Equity
Equity fell by 100% in 7 years.
Equity fell by 100% in 7 years.
The result fell in 2025 from €351,965 to €249,371.
The micro format states no turnover.
Of this, €283,815 falls due within a year.
The 2024 accounts came latest: 35 days after the end of the period.
Less equity than 90% of companies in head offices and management consultancy. Sector median €78,216 · 39,400 companies.
The dashed line is the sector median: 0.1% across 48,572 companies (NACE 70, micro).
About 7 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 70, micro). It does better than 9% of them on solvency, 1% on liquidity, 84% on profitability and 40% 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 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 1,325 companies had the same profile as INVOCATION has now. Each dot stands for 4 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of INVOCATION itself: 0.7% 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 1,325 companies, not a prediction for INVOCATION. 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.
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 1 day after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| INVOCATION Bonheiden | €285,415 | €347,184 | 0.0% | - |
| Management and Consulting VAN MEENSEL Geel | €303,245 | €369,392 | 78.5% | - |
| AsAService Kasterlee | €278,028 | €307,974 | 23.4% | - |
| FORTITUDE Antwerp | €317,092 | €397,101 | 39.6% | 4.4 |
| SYMPHYTUM Antwerp | €310,841 | €302,750 | 65.9% | - |
| Julien en Jacqueline Oosterzele | €287,527 | €324,029 | 17.1% | - |
| SASCO Consulting Forest | €301,176 | €307,778 | 6.8% | - |
These companies have the same main activity as INVOCATION: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €278,000 and €317,000, founded between 2014 and 2017.
INVOCATION files the micro format. That format states no turnover. The gross margin rose from €144,564 in 2016 to €347,184 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 ≈ €500,000. Estimated: probably between €410,000 and €870,000.
Higher than 10% of 39,368 companies in 2025.
Higher than 21% of 38,051 companies in 2025.
Higher than 95% of 38,523 companies in 2025.
Net result: top quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
285,415 | 292,639 | 279,859 | 257,258 | 375,446 | 169,622 | 493,243 | 373,164 | 247,236 | 159,062 | |
21/28 |
31,402 | 42,637 | 44,939 | 41,338 | 35,301 | 28,258 | 33,163 | 35,723 | 6,102 | 949 | |
22/27 |
31,402 | 42,637 | 44,939 | 41,338 | 35,301 | 28,258 | 33,163 | 35,723 | 6,102 | 949 | |
23 |
14,383 | 19,762 | 11,617 | 4,308 | 752 | 1,692 | 2,820 | - | - | - | |
24 |
8,141 | 9,790 | 16,031 | 15,532 | 8,844 | 1,522 | 1,257 | 2,593 | 3,930 | 949 | |
26 |
8,878 | 13,085 | 17,292 | 21,499 | 25,705 | 25,043 | 29,086 | 33,130 | 2,173 | - | |
29/58 |
254,013 | 250,002 | 234,919 | 215,920 | 340,145 | 141,365 | 460,080 | 337,441 | 241,133 | 158,113 | |
40/41 |
228,388 | 163,791 | 147,995 | 85,195 | 192,575 | 67,967 | 76,352 | 49,382 | 35,049 | 11,273 | |
40 |
210,247 | 155,791 | 117,629 | 73,195 | 71,773 | 59,297 | 68,987 | 49,382 | 35,049 | 11,273 | |
41 |
18,140 | 8,000 | 30,366 | 12,000 | 120,802 | 8,669 | 7,365 | - | - | - | |
50/53 |
23,600 | 23,500 | 23,500 | 91,000 | 31,000 | 8,500 | - | - | - | - | |
54/58 |
726 | 61,410 | 62,223 | 39,725 | 112,104 | 58,898 | 373,521 | 285,059 | 206,084 | 146,840 | |
490/1 |
1,300 | 1,300 | 1,201 | - | 4,466 | 6,000 | 10,207 | 3,000 | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
285,415 | 292,639 | 279,859 | 257,258 | 375,446 | 169,622 | 493,243 | 373,164 | 247,236 | 159,062 | |
10/15 |
100 | 100 | 100 | 100 | 18,600 | 20,460 | 8,060 | 320,930 | 189,845 | 98,921 | |
10/11 |
100 | 100 | 100 | 100 | 18,600 | 18,600 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
- | - | - | - | - | 1,860 | 1,860 | 314,730 | 183,645 | 92,721 | |
130/1 |
- | - | - | - | - | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | - | - | 1,860 | - | - | - | - | |
133 |
- | - | - | - | - | - | - | 312,870 | 181,785 | 90,861 | |
17/49 |
285,315 | 292,539 | 279,759 | 257,158 | 356,846 | 149,162 | 485,183 | 52,234 | 57,391 | 60,141 | |
42/48 |
283,815 | 290,539 | 277,759 | 255,158 | 354,846 | 147,662 | 483,783 | 51,034 | 56,191 | 58,941 | |
44 |
6,078 | 8,651 | 9,806 | 8,641 | - | 2,886 | 6,473 | 1,924 | 2,421 | 4,905 | |
440/4 |
6,078 | 8,651 | 9,806 | 8,641 | - | 2,886 | 6,473 | 1,924 | 2,421 | 4,905 | |
45 |
63,413 | 66,451 | 71,934 | 62,657 | 94,793 | 35,759 | 109,081 | 48,494 | 52,849 | 53,169 | |
450/3 |
63,413 | 66,451 | 71,934 | 62,657 | 94,793 | 32,601 | 109,081 | 48,494 | 49,383 | 49,703 | |
454/9 |
- | - | - | - | - | 3,159 | - | - | 3,467 | 3,467 | |
47/48 |
214,324 | 215,437 | 196,019 | 183,859 | 260,053 | 109,017 | 368,228 | 616 | 921 | 867 | |
492/3 |
1,500 | 2,000 | 2,000 | 2,000 | 2,000 | 1,500 | 1,400 | 1,200 | 1,200 | 1,200 | |
| Income statement | |||||||||||
9900 |
347,184 | 275,870 | 318,251 | 182,803 | 194,495 | 171,079 | 166,816 | 182,362 | 139,051 | 144,564 | |
630 |
15,155 | 15,200 | 11,013 | 9,977 | 7,343 | 6,201 | 7,260 | 5,380 | 1,880 | 1,884 | |
640/8 |
567 | 505 | 704 | 527 | 449 | 448 | 446 | 350 | 447 | 816 | |
9901 |
331,462 | 260,165 | 306,534 | 172,300 | 186,703 | 164,431 | 159,111 | 176,633 | 136,724 | 141,864 | |
75/76B |
163 | 206,749 | 205 | - | 176,221 | 0 | - | 102 | 435 | - | |
75 |
163 | 206,749 | 205 | - | 163 | 0 | - | 102 | 435 | - | |
76B |
- | - | - | - | 176,058 | - | - | - | - | - | |
65/66B |
2,394 | 1,895 | 1,164 | 966 | 1,344 | 1,612 | 1,137 | 1,228 | 1,011 | 1,293 | |
65 |
2,394 | 1,895 | 1,164 | 966 | 1,344 | 1,612 | 1,137 | 1,228 | 1,011 | 1,293 | |
9903 |
329,231 | 465,019 | 305,574 | 171,334 | 361,580 | 162,818 | 157,974 | 175,507 | 136,148 | 140,571 | |
67/77 |
79,860 | 113,054 | 74,964 | 39,462 | 89,877 | 36,931 | 39,359 | 44,422 | 45,225 | 47,850 | |
9904 |
249,371 | 351,965 | 230,611 | 131,872 | 271,703 | 125,888 | 118,615 | 131,085 | 90,923 | 92,721 | |
9905 |
249,371 | 351,965 | 230,611 | 131,872 | 271,703 | 125,888 | 118,615 | 131,085 | 90,923 | 92,721 | |
| Appropriation of the result | |||||||||||
9906 |
249,371 | 351,965 | 230,611 | 131,872 | 271,703 | 125,888 | 118,615 | 131,085 | 90,923 | 92,721 | |
791/2 |
- | - | - | - | 1,860 | - | 431,485 | - | - | - | |
691/2 |
- | - | - | - | - | - | 118,615 | 131,085 | 90,923 | 92,721 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | - | - | - | - | 118,615 | 131,085 | 90,923 | 90,861 | |
694/7 |
249,371 | 351,965 | 230,611 | 131,872 | 273,563 | 125,888 | 431,485 | - | - | - | |
694 |
249,371 | 351,965 | 230,611 | 131,872 | 273,563 | 125,888 | 431,485 | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 5 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 28-05-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-05-2026 | 2026-00123293 | |
| 31-12-2024 | micro format | 04-09-2025 | 2025-00479238 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00457025 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00414144 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20142088 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60500345 | |
| 31-12-2019 | micro format | 08-07-2020 | 2020-27500058 | |
| 31-12-2018 | micro format | 17-07-2019 | 2019-33700234 | |
| 31-12-2017 | micro format | 30-06-2018 | 2018-26300521 | |
| 31-12-2016 | abbreviated format | 03-07-2017 | 2017-25600301 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 346,617 | 275,365 | 317,547 | 182,277 | 194,047 | 170,631 | 166,370 | 182,012 | 138,604 | 143,748 | ||
| 264,526 | 367,164 | 241,623 | 141,848 | 279,046 | 132,088 | 125,875 | 136,465 | 92,803 | 94,605 | ||
| 3,920 | 12,897 | 14,614 | 16,014 | 14,387 | 1,295 | 4,700 | 35,000 | 7,033 | 1,325 | ||
| -60,685 | -813 | 22,498 | -72,379 | 53,206 | -314,623 | 88,462 | 78,974 | 59,244 | - | ||
| -29,802 | -40,537 | -42,839 | -39,238 | -14,701 | -6,298 | -23,703 | 286,407 | 184,942 | 99,172 | ||
| 0.0% | 0.0% | 0.0% | 0.0% | 5.0% | 12.1% | 1.6% | 86.0% | 76.8% | 62.2% | ||
| 0.89 | 0.86 | 0.85 | 0.85 | 0.96 | 0.96 | 0.95 | 6.61 | 4.29 | 2.68 | ||
| - | - | - | - | 19.19 | 7.29 | 60.20 | 0.16 | 0.30 | 0.61 | ||
| - | - | - | - | - | 615.3% | - | 40.8% | 47.9% | 93.7% | ||
| 87.4% | 120.3% | 82.4% | 51.3% | 72.4% | 74.2% | 24.0% | 35.1% | 36.8% | 58.3% | ||
| over 100 | over 100 | over 100 | over 100 | over 100 | - | - | - | - | - |
The equity ratios are withheld because equity of €100 is too small for a meaningful ratio.
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 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,920 | €12,897 | €14,614 | €16,014 | €14,387 |
| €15,155 | €15,200 | €11,013 | €9,977 | €7,343 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 27% higher than in 2024 and the highest since 2016. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total stays at 100.0%.
INVOCATION has no parent and no holdings in its annual accounts. SOETENS Peter Marita Walter is the only director.
The network starts from the directors of INVOCATION. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
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 |
|---|---|---|
| Brakelberglei 23 registered office 2820 Bonheiden | 19-08-2015 | 2.244.838.138 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 12031C0046/00F000 | 3,066 m² | 1 · 253 m² | 7.6 m · 2 |
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