Investments
Green is investment, beige is depreciation.
Green is investment, beige is depreciation.
The last five annual accounts were filed 0 to 76 days before the end of the period.
The dashed line is the sector median: 0.1% across 25,933 companies (NACE 62, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 50% of them on solvency, 12% on liquidity, 63% on profitability and 85% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 31,368 companies had the same profile as ILLUMINATIO has now. Each dot stands for 79 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ILLUMINATIO itself: 0.1% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for ILLUMINATIO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 1.96 (1.39 in 2024), above the usual 1.5. Short-term debt is 42.7% and cash 1.9% of total assets. 42.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 15 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| ILLUMINATIO Ixelles | €39,924 | €20,740 | 57.3% | - |
| DIRECT SOLUTION Pont-à-Celles | €37,896 | €22,953 | 66.3% | - |
| LIENKA Hastière | €34,203 | €21,584 | 92.6% | - |
| T-SOLUTION Forest | €32,455 | €16,950 | -25.8% | - |
| JOHNRIZZO Watermael-Boitsfort | €43,084 | €24,073 | 90.7% | - |
| COMPASS CONSULTING Deinze | €46,038 | €16,936 | 82.6% | - |
| ACTIVITY.BE Zaventem | €36,552 | €16,394 | -136.0% | - |
These companies have the same main activity as ILLUMINATIO: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €32,500 and €46,000, founded between 2001 and 2008.
ILLUMINATIO files the micro format. That format states no turnover. The gross margin fell from €53,033 in 2007 to €20,740 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €53,000 and €220,000.
Higher than 48% of 21,208 companies in 2025.
Higher than 42% of 20,571 companies in 2025.
Higher than 59% of 20,746 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
39,924 | 47,710 | 55,416 | 25,900 | 2,401 | 3,003 | 5,703 | 1,499 | 17,519 | 39,630 | 14,155 | 10,573 | 15,931 | 15,610 | 13,636 | 47,897 | 50,739 | 52,761 | |
21/28 |
6,615 | - | - | 124 | 358 | 648 | 390 | - | - | - | 143 | 285 | - | - | - | - | - | 320 | |
22/27 |
6,615 | - | - | 124 | 358 | 648 | 390 | - | - | - | 143 | 285 | - | - | - | - | - | - | |
24 |
6,615 | - | - | 124 | 358 | 648 | 390 | - | - | - | 143 | 285 | - | - | - | - | - | - | |
28 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 320 | |
29/58 |
33,309 | 47,710 | 55,416 | 25,777 | 2,043 | 2,355 | 5,313 | 1,499 | 17,519 | 39,630 | 14,012 | 10,287 | 15,931 | 15,610 | 13,636 | 47,897 | 50,739 | 52,441 | |
40/41 |
31,966 | 45,737 | 54,660 | 17,523 | 1,462 | 2,349 | 4,312 | 824 | 1,664 | 39,162 | 13,665 | 10,287 | 15,482 | 14,953 | 13,611 | 8,997 | 22,458 | 31,591 | |
40 |
16,375 | 44,045 | 54,524 | 16,693 | 750 | - | 2,876 | 418 | 1,664 | 32,865 | 2,297 | 520 | 554 | 511 | - | 1,115 | 14,723 | 21,378 | |
41 |
15,591 | 1,692 | 136 | 830 | 712 | 2,349 | 1,436 | 406 | - | 6,297 | 11,368 | 9,767 | 14,928 | 14,442 | 13,611 | 7,881 | 7,736 | 10,213 | |
54/58 |
745 | 698 | 756 | 7,704 | 31 | 6 | 864 | 94 | 15,407 | - | - | - | 2 | 1 | 25 | 38,901 | 28,281 | 20,850 | |
490/1 |
598 | 1,276 | - | 550 | 550 | - | 137 | 581 | 448 | 469 | 348 | - | 448 | 656 | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
39,924 | 47,710 | 55,416 | 25,900 | 2,401 | 3,003 | 5,703 | 1,499 | 17,519 | 39,630 | 14,155 | 10,573 | 15,931 | 15,610 | 13,636 | 47,897 | 50,739 | 52,761 | |
10/15 |
22,891 | 13,319 | 33,549 | 8,265 | -12,868 | -17,850 | -6,120 | -11,457 | 552 | 2,956 | 11,809 | 8,656 | 14,263 | 14,727 | 13,288 | 19,531 | 22,186 | -21,221 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
11 |
- | - | - | - | - | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | |
13 |
4,291 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
4,291 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
- | -5,281 | 14,949 | -10,335 | -31,468 | -36,450 | -24,720 | -30,057 | -18,048 | -15,644 | -6,791 | -9,944 | -4,337 | -3,873 | -5,312 | 931 | 3,586 | -39,821 | |
17/49 |
17,033 | 34,391 | 21,868 | 17,635 | 15,269 | 20,853 | 11,823 | 12,956 | 16,968 | 36,674 | 2,346 | 1,917 | 1,668 | 882 | 348 | 28,367 | 28,554 | 73,982 | |
42/48 |
17,033 | 34,391 | 16,859 | 17,635 | 15,269 | 20,853 | 11,823 | 12,956 | 16,968 | 36,674 | 2,346 | 1,917 | 1,668 | 882 | 348 | 28,367 | 28,554 | 73,982 | |
43 |
- | - | - | - | - | - | - | - | - | 1,273 | 1,400 | 1,402 | - | - | - | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | - | 1,273 | 1,400 | 1,402 | - | - | - | - | - | - | |
44 |
16,374 | 29,360 | 2,514 | 7,340 | 1,210 | 3,290 | 3,063 | 1,292 | 3,836 | 3,712 | 947 | 515 | 1,327 | 882 | 348 | 260 | 347 | 28,337 | |
440/4 |
16,374 | 29,360 | 2,514 | 7,340 | 1,210 | 3,290 | 3,063 | 1,292 | 3,836 | 3,712 | 947 | 515 | 1,327 | 882 | 348 | 260 | 347 | 28,337 | |
46 |
- | - | - | - | - | - | - | 166 | - | - | - | - | - | - | - | - | - | - | |
45 |
429 | 1,574 | 3,074 | - | 548 | 4,377 | 427 | 955 | 1,457 | 1,146 | - | - | 341 | - | - | 4,589 | 4,589 | 10,663 | |
450/3 |
429 | 1,574 | 3,074 | - | 548 | 849 | 427 | 332 | 1,457 | 1,146 | - | - | 341 | - | - | 4,589 | 4,589 | 1,398 | |
454/9 |
- | - | - | - | - | 3,528 | - | 622 | - | - | - | - | - | - | - | - | - | 9,265 | |
47/48 |
230 | 3,458 | 11,271 | 10,296 | 13,511 | 13,186 | 8,333 | 10,543 | 11,675 | 30,543 | - | - | - | - | - | 23,518 | 23,618 | 34,983 | |
492/3 |
- | - | 5,009 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | |||||||||||||||||||
76A |
- | - | - | - | 3,528 | - | 166 | - | 862 | - | 0 | - | 473 | 0 | - | - | 23,069 | 315 | |
9900 |
20,740 | 6,807 | 32,888 | 20,189 | 5,877 | -2,001 | 12,487 | 21,596 | -2,184 | -8,541 | 3,150 | -5,836 | -1,537 | 953 | -1,989 | -1,924 | -1,391 | 53,033 | |
62 |
- | - | - | - | - | - | 6,034 | 32,914 | - | - | - | - | - | - | - | - | - | 47,864 | |
630 |
1,030 | - | 124 | 235 | 290 | 166 | 55 | - | - | 143 | 143 | 143 | - | - | - | - | - | 232 | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,812 | |
640/8 |
387 | 384 | 348 | 348 | 348 | - | 695 | 348 | 348 | 750 | 439 | 437 | 437 | 437 | 2,273 | 438 | 89 | 437 | |
66A |
10,000 | 25,839 | - | - | - | 8,347 | - | - | - | - | - | - | - | - | - | - | 3,075 | - | |
9901 |
9,323 | -19,416 | 32,417 | 19,607 | 5,240 | -10,514 | 5,703 | -11,666 | -2,531 | -9,433 | 2,568 | -6,415 | -1,973 | 517 | -4,262 | -2,362 | -1,480 | -312 | |
75/76B |
979 | 2 | 192 | 1,817 | 43 | - | - | - | 292 | 700 | 809 | 1,004 | 1,329 | 968 | 37 | 26 | 1,166 | 63 | |
75 |
979 | 2 | 192 | 1,817 | 43 | - | - | - | 292 | 700 | 809 | 1,004 | 1,329 | 968 | 37 | 26 | 1,166 | 63 | |
65/66B |
301 | 815 | 1,252 | 291 | 301 | 1,215 | 366 | 343 | 165 | 120 | 224 | 196 | 293 | 49 | 1,552 | 316 | 111 | 369 | |
65 |
301 | 815 | 1,252 | 291 | 301 | 1,215 | 366 | 343 | 165 | 120 | 224 | 196 | 293 | 49 | 1,552 | 316 | 111 | 369 | |
9903 |
10,001 | -20,229 | 31,357 | 21,133 | 4,982 | -11,729 | 5,336 | -12,009 | -2,404 | -8,853 | 3,153 | -5,608 | -464 | 1,436 | -5,778 | -2,651 | 19,569 | -303 | |
67/77 |
429 | - | 3,074 | - | - | - | - | - | - | - | - | - | - | -3 | 464 | 4 | 4,592 | 9 | |
9904 |
9,572 | -20,229 | 28,284 | 21,133 | 4,982 | -11,729 | 5,336 | -12,009 | -2,404 | -8,853 | 3,153 | -5,608 | -464 | 1,439 | -6,242 | -2,655 | 14,977 | -312 | |
9905 |
9,572 | -20,229 | 28,284 | 21,133 | 4,982 | -11,729 | 5,336 | -12,009 | -2,404 | -8,853 | 3,153 | -5,608 | -464 | 1,439 | -6,242 | -2,655 | 14,977 | -312 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
4,291 | -5,281 | 17,949 | -10,335 | -31,468 | -36,450 | -24,720 | -30,057 | -18,048 | -15,644 | -6,791 | -9,944 | -4,337 | -3,873 | -5,312 | 931 | 3,586 | -39,821 | |
14P |
-5,281 | 14,949 | -10,335 | -31,468 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
4,291 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
4,291 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | 3,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
695 |
- | - | 3,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||
9087 |
- | - | - | - | - | - | 0.3 | 0.8 | - | - | - | - | - | - | - | - | - | 1 | |
Hours worked1013 |
- | - | - | - | - | - | 61 | 1,429 | - | - | - | - | - | - | - | - | - | 1,717 | |
| Document | |||||||||||||||||||
The accounts for 5 older financial years (2002-2006) were filed as documents without figures as data, scans for example.
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 27-01-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 27-01-2026 | 2026-00016843 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00025198 | |
| 30-06-2023 | micro format | 16-11-2023 | 2023-00513008 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00018785 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03700580 | |
| 30-06-2020 | micro format | 28-01-2021 | 2021-03900510 | |
| 30-06-2019 | micro format | 09-01-2020 | 2020-00700140 | |
| 30-06-2018 | micro format | 18-01-2019 | 2019-01800127 | |
| 30-06-2017 | micro format | 30-11-2017 | 2017-71000299 | |
| 30-06-2016 | full format | 09-11-2016 | 2016-67700341 | |
| 30-06-2015 | full format | 30-11-2015 | 2015-68000003 | |
| 30-06-2014 | full format | 04-12-2014 | 2014-68300588 | |
| 30-06-2013 | full format | 16-01-2014 | 2014-01000537 | |
| 30-06-2012 | full format | 31-01-2013 | 2013-02300130 | |
| 30-06-2011 | full format | 17-10-2011 | 2011-58200006 | |
| 30-06-2010 | full format | 31-01-2011 | 2011-02200398 | |
| 30-06-2009 | full format | 21-04-2010 | 2010-09500563 | |
| 30-06-2007 | full format | 02-01-2008 | 2008-00300196 | |
| 30-06-2006 | full format | 29-01-2007 | 2007-03201402 | |
| 30-06-2005 | full format | 22-05-2006 | 2006-15703738 | |
| 30-06-2004 | full format | 01-02-2006 | 2006-04105026 | |
| 30-06-2003 | full format | 23-01-2004 | 2004-02400817 | |
| 30-06-2002 | full format | 04-07-2003 | 2003-41404202 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10,353 | - | 32,541 | 19,842 | 5,530 | -10,348 | 5,758 | - | - | -9,290 | 2,711 | -6,272 | - | - | - | - | - | -81 | ||
| 10,602 | - | 28,407 | 21,367 | 5,272 | -11,563 | 5,392 | - | - | -8,710 | 3,296 | -5,465 | - | - | - | - | - | -80 | ||
| 7,645 | - | 0 | 0 | 0 | 424 | 446 | - | - | 0 | 0 | 428 | - | - | - | - | - | - | ||
| 47 | -58 | -6,948 | 7,673 | 25 | -858 | 770 | -15,313 | - | - | - | - | 1 | -24 | -38,876 | 10,620 | - | - | ||
| 16,276 | 13,319 | 38,557 | 8,141 | -13,226 | -18,498 | -6,511 | -11,457 | 552 | 2,956 | 11,666 | 8,370 | 14,263 | 14,727 | 13,288 | 19,531 | 22,186 | -21,541 | ||
| 57.3% | 27.9% | 60.5% | 31.9% | - | - | -107.3% | - | 3.1% | 7.5% | 83.4% | 81.9% | 89.5% | 94.3% | 97.5% | 40.8% | 43.7% | -40.2% | ||
| 1.96 | 1.39 | 3.29 | 1.46 | - | - | 0.45 | - | 1.03 | 1.08 | 5.97 | 5.37 | 9.55 | 17.69 | 39.24 | 1.69 | 1.78 | 0.71 | ||
| 0.74 | 2.58 | 0.65 | 2.13 | - | - | - | - | - | 12.41 | 0.20 | 0.22 | 0.12 | 0.06 | 0.03 | 1.45 | 1.29 | - | ||
| 41.8% | -151.9% | 84.3% | 255.7% | - | - | - | - | - | -299.5% | 26.7% | -64.8% | -3.3% | 9.8% | -47.0% | -13.6% | 67.5% | - | ||
| 24.0% | -42.4% | 51.0% | 81.6% | - | - | 93.6% | - | -13.7% | -22.3% | 22.3% | -53.0% | -2.9% | 9.2% | -45.8% | -5.5% | 29.5% | -0.6% | ||
| 34.41 | - | 26.00 | 68.10 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €7,645 | - | - | - |
| €1,030 | - | €124 | €235 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €9,323, after a loss of €19,416 in 2024.
Debt's share of the balance-sheet total falls from 72.1% to 42.7%. Equity is higher and debt is lower.
ILLUMINATIO has no parent and no holdings in its annual accounts. GAO Shuli is the only director. ILLUMINATIO shares no director with another company.
| LuckyWay
registered office since 15-04-2011 · founded in 2011 |
total assets €119.2m (2025) 0835.562.552 |
| MOZZENO
registered office since 07-12-2015 · founded in 2015 |
24 FTE (2025) 0643.893.720 |
| ALIZEE INTERNATIONAL
registered office since 25-02-2008 · founded in 2008 |
total assets €83.7m (2025) 0895.960.789 |
| Equals Money Europe
registered office since 02-10-2012 · founded in 2012 |
24 FTE (2025) 0849.185.510 |
| European Medical Solutions
registered office since 05-06-1997 · founded in 1997 |
turnover €606,595 (2025) 0460.798.795 |
| FINANCIERE GABRIEL
registered office since 06-09-2010 · founded in 2010 |
total assets €45.9m (2025) 0829.017.923 |
| Europcar
registered office since 10-11-2016 · founded in 1973 · negative equity (2024) · accounts filed late |
81 FTE (2024) 0413.087.168 |
| THE SMILEY COMPANY
registered office since 25-02-2008 · founded in 2008 |
total assets €44.6m (2025) 0895.961.482 |
| SILVERSQUARE BELGIUM
establishment since 01-01-2020 · founded in 2008 · negative equity (2025) · group BROOKFIELD CORPORATION |
44 FTE (2025) 0806.423.356 |
| OGIMA INVEST
registered office since 08-09-1998 · founded in 1998 |
total assets €22.0m (2025) 0464.086.305 |
Deadline for the 2026 accounts: 31-01-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Shine registered office Louizalaan 231, 1050 Ixelles 2823001 Manufacture of machinery and equipment not elsewhere classified | 04-12-2001 | 2.094.532.876 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21807G0131/00T000 | 5,672 m² | 1 · 3,878 m² | 45.8 m · 8 |
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