INSTAR
ActiveSummary
INSTAR has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €199,968 and a net result of €76,286. Equity is growing by ~17.1% per year across the filed fiscal years. Its solvency ranks better than 43% of 7097 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability90▼-7
Solvency70▼-30
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 1.77 against 4.71 in 2024; short-term debt: 55.2% and cash: 71.6% of total assets), but 55.2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.8%
Return on assets
17.1%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
1 d early
2024
69 d early
2023
30 d early
2022
32 d early
2021
48 d early
2020
22 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€199,968▼ 41.8%
2024 · €343,682
Total assets
€446,425▲ 2.7%
2024 · €434,610
Net result
€76,286▼ 22.8%
2024 · €98,782
Working capital
€189,038▼ 44.0%
2024 · €337,554
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€131,845▲ 8.0%€161,057▲ 22.2%€142,217▼ 11.7%€131,622▼ 7.5%€101,667▼ 22.8%
Net result€98,182above the sector's middle half▲ 6.0%€123,853above the sector's middle half▲ 26.1%€106,318above the sector's middle half▼ 14.2%€98,782above the sector's middle half▼ 7.1%€76,286above the sector's middle half▼ 22.8%
Equity€262,599above the sector's middle half▲ 59.7%€386,453within the sector's middle half▲ 47.2%€430,783above the sector's middle half▲ 11.5%€343,682above the sector's middle half▼ 20.2%€199,968above the sector's middle half▼ 41.8%
Total assets€337,306within the sector's middle half▲ 33.2%€439,348within the sector's middle half▲ 30.3%€478,023above the sector's middle half▲ 8.8%€434,610above the sector's middle half▼ 9.1%€446,425above the sector's middle half▲ 2.7%
Debt€74,707▼ 15.8%€52,895▼ 29.2%€47,241▼ 10.7%€90,928▲ 92.5%€246,457▲ 171%
Working capital€261,099above the sector's middle half▲ 63.5%€386,453above the sector's middle half▲ 48.0%€430,783above the sector's middle half▲ 11.5%€337,554above the sector's middle half▼ 21.6%€189,038above the sector's middle half▼ 44.0%
Solvency77.9%above the sector's middle half▲ 12.9pp88.0%above the sector's middle half▲ 10.1pp90.1%above the sector's middle half▲ 2.2pp79.1%above the sector's middle half▼ 11.0pp44.8%within the sector's middle half▼ 34.3pp
Current ratio4.49above the sector's middle half▲ 1.708.31above the sector's middle half▲ 3.8110.12above the sector's middle half▲ 1.814.71above the sector's middle half▼ 5.411.77within the sector's middle half▼ 2.95
Return on assets (ROA)29.1%above the sector's middle half▼ 7.5pp28.2%above the sector's middle half▼ 0.9pp22.2%within the sector's middle half▼ 5.9pp22.7%within the sector's middle half▲ 0.5pp17.1%within the sector's middle half▼ 5.6pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 23% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €446,425
Fixed assets
€10,929 ▲ 78.4%
Current assets
€435,495 ▲ 1.6%
Equity and liabilities €446,425
Equity
€199,968 ▼ 41.8%
Debt
€246,457 ▲ 171%
Debt's share of the balance-sheet total rises from 20.9% to 55.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€102,475▼
2024 · €131,681
Cash flow
€77,094▼
2024 · €98,841
Quick ratio
1.72▼
2024 · 4.56
Debt to equity
1.23▲
2024 · 0.26
ROE
38.1%▲
2024 · 28.7%
Interest coverage
1078.23▼
2024 · 1476.08
Debt ≤ 1 year
€246,457▲
2024 · €90,928
Income taxes
€25,959▼
2024 · €33,215
Staff costs
€3,373
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €340 | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €3,373 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,204 | €1,500 | €0 | €59 | €808 | ▲ 1,269% |
| Other operating charges640/8 | €156 | €159 | €449 | €148 | €732 | ▲ 395% |
| Gross operating margin9900 | €135,205 | €162,716 | €142,667 | €131,829 | €106,580 | ▼ 19.2% |
| Operating profit (loss)9901 | €131,845 | €161,057 | €142,217 | €131,622 | €101,667 | ▼ 22.8% |
| Financial income75/76B | €49 | €427 | €48 | €464 | €673 | ▲ 45.1% |
| Recurring financial income75 | €49 | €427 | €48 | €464 | €673 | ▲ 45.1% |
| Financial charges65/66B | €198 | €656 | €1,058 | €89 | €95 | ▲ 6.5% |
| Recurring financial charges65 | €198 | €656 | €1,058 | €89 | €95 | ▲ 6.5% |
| Profit (loss) for the period before taxes9903 | €131,696 | €160,828 | €141,207 | €131,996 | €102,244 | ▼ 22.5% |
| Income taxes67/77 | €33,514 | €36,974 | €34,889 | €33,215 | €25,959 | ▼ 21.8% |
| Profit (loss) for the period9904 | €98,182 | €123,853 | €106,318 | €98,782 | €76,286 | ▼ 22.8% |
| Profit (loss) for the period to be appropriated9905 | €98,182 | €123,853 | €106,318 | €98,782 | €76,286 | ▼ 22.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €337,306 | €439,348 | €478,023 | €434,610 | €446,425 | ▲ 2.7% |
| Fixed assets21/28 | €1,500 | €0 | - | €6,128 | €10,929 | ▲ 78.4% |
| Tangible fixed assets22/27 | €1,500 | €0 | - | €6,128 | €10,929 | ▲ 78.4% |
| Plant, machinery and equipment23 | €1,500 | €0 | - | €6,128 | €5,509 | ▼ 10.1% |
| Furniture and vehicles24 | €0 | - | - | - | €5,420 | - |
| Current assets29/58 | €335,806 | €439,348 | €478,023 | €428,482 | €435,495 | ▲ 1.6% |
| Stocks and contracts in progress3 | €19,288 | €18,351 | €16,162 | €14,222 | €12,315 | ▼ 13.4% |
| Stocks30/36 | €19,288 | €18,351 | €16,162 | €14,222 | €12,315 | ▼ 13.4% |
| Amounts receivable within one year40/41 | €64,052 | €58,565 | €59,371 | €28,944 | €101,995 | ▲ 252% |
| Trade receivables40 | €64,052 | €58,565 | €59,150 | €19,486 | €82,126 | ▲ 321% |
| Other amounts receivable41 | - | - | €222 | €9,458 | €19,869 | ▲ 110% |
| Cash at bank and in hand54/58 | €252,466 | €361,091 | €400,720 | €383,673 | €319,758 | ▼ 16.7% |
| Deferred charges and accrued income490/1 | €0 | €1,341 | €1,770 | €1,643 | €1,427 | ▼ 13.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €337,306 | €439,348 | €478,023 | €434,610 | €446,425 | ▲ 2.7% |
| Equity10/15 | €262,599 | €386,453 | €430,783 | €343,682 | €199,968 | ▼ 41.8% |
| Contributions10/11 | €10,000 | €10,000 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €90,000 | €90,000 | €120,000 | €150,000 | €180,000 | ▲ 20.0% |
| Distributable reserves133 | €90,000 | €90,000 | €120,000 | €150,000 | €180,000 | ▲ 20.0% |
| Profit (loss) carried forward14 | €162,599 | €286,453 | €292,183 | €175,082 | €1,368 | ▼ 99.2% |
| Amounts payable17/49 | €74,707 | €52,895 | €47,241 | €90,928 | €246,457 | ▲ 171% |
| Amounts payable within one year42/48 | €74,707 | €52,895 | €47,241 | €90,928 | €246,457 | ▲ 171% |
| Trade debts44 | €1,589 | €2,133 | €7,047 | €1,705 | €7,072 | ▲ 315% |
| Suppliers440/4 | €1,589 | €2,133 | €7,047 | €1,705 | €7,072 | ▲ 315% |
| Taxes, remuneration and social security45 | €72,829 | €50,398 | €16,870 | €10,181 | €19,385 | ▲ 90.4% |
| Taxes450/3 | €70,090 | €50,398 | €16,870 | €10,181 | €19,385 | ▲ 90.4% |
| Remuneration and social security454/9 | €2,739 | €0 | - | - | - | - |
| Other amounts payable47/48 | €289 | €364 | €23,323 | €79,042 | €220,000 | ▲ 178% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €98,182 | €123,853 | €106,318 | €98,782 | €76,286 | ▼ 22.8% |
| + Depreciation and write-downs630 | €3,204 | €1,500 | €0 | €59 | €808 | ▲ 1,269% |
| Operating cash flow (approximation) | €101,386 | €125,353 | €106,318 | €98,841 | €77,094 | ▼ 22.0% |
| Investment in fixed assets (approximation) | - | €0 | - | - | -€5,610 | - |
| Change in cash | - | €108,626 | €39,629 | -€17,047 | -€63,915 | ▼ 275% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2019net €123,853 ▲26.1%
Operating result €161,057, net result €123,853, both a record.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €262,599 ▲59.7%
3 profitable years in a row build equity to €262,599.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150,000Eq €164,418 ▲129%
2 profitable years in a row build equity to €164,418.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 2019
Ground area
1,744 m²
Building footprint
199 m²
Parcel 12025E0403/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
Herbosch Consulting
since 20192.284.285.464
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12025E0403/00M000 | Flanders | 1,744 m² | 1 · 199 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteMechelen2.284.285.464
Similar companies · same sector, comparable size
ARUALEX INTERNATIONAL
BE 0777.281.685
Schaarbeek · Eq €199,981
COM.UNE
BE 0877.205.939
Blégny · Eq €199,881
Salesaid
BE 0792.275.313
Rotselaar · Eq €200,118
CF ADVISORY
BE 0769.838.025
Nivelles · Eq €200,179
Hélène V Invest
BE 0795.491.357
Elsene · Eq €199,721
Of 13,417 companies in sector 73300 we hold annual accounts for 6,906. 5,265 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0718689133
Also
9925:BE0718689133
Registered
18-08-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.