Equity
Equity fell by 50% in 4 years.
The dashed line is the sector median: 0.1% across 14,828 companies (NACE 71, micro).
Fewer than 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 71, micro). It does better than 64% of them on solvency, 75% on liquidity, 88% on profitability and 91% on growth.
The bankruptcy probability was computed on 09-11-2026 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 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, 34,693 companies had the same profile as K2Engineering has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of K2Engineering 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 34,693 companies, not a prediction for K2Engineering. 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 2.82 (1.68 in 2024), above the usual 1.5. Short-term debt is 33.6% and cash 48% of total assets. 33.6% 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 28 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| K2Engineering Genk | €88,071 | €34,262 | 66.4% | - |
| aMAESing.be Dilbeek | €95,172 | €35,354 | 33.1% | - |
| MARCOM CONSULTING Tervuren | €97,525 | €34,997 | 21.0% | - |
| ATP ENGINEERING Villers-la-Ville | €82,561 | €35,963 | 84.5% | - |
| PE&C Kortrijk | €95,954 | €31,249 | 96.3% | - |
| IMPACT ESTATE DESIGN Uccle | €84,480 | €37,855 | 36.0% | - |
| TERNOVA Sprimont | €77,176 | €35,924 | 54.2% | - |
These companies have the same main activity as K2Engineering: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €77,200 and €97,500, founded between 2013 and 2015.
K2Engineering files the micro format. That format states no turnover. The gross margin rose from €34,174 in 2015 to €34,262 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 ≈ €100,000. Estimated: probably between €68,000 and €140,000.
Higher than 63% of 11,794 companies in 2025.
Higher than 62% of 11,521 companies in 2025.
Higher than 81% of 11,605 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
88,071 | 64,063 | 55,759 | 114,651 | 122,085 | 111,589 | 97,326 | 87,087 | 75,997 | 64,490 | 49,519 | |
21/28 |
4,649 | 4,526 | 9,835 | 14,428 | 12,216 | 7,741 | 1,174 | 2,347 | 663 | 2,284 | 1,255 | |
22/27 |
4,649 | 4,526 | 9,835 | 14,428 | 12,216 | 7,741 | 1,174 | 2,347 | 663 | 2,284 | 1,255 | |
23 |
456 | 1,114 | 2,034 | 2,131 | 2,889 | 2,667 | 396 | 793 | - | 338 | 788 | |
24 |
4,193 | 3,412 | 7,801 | 12,297 | 9,327 | 5,075 | 777 | 1,554 | 663 | 1,947 | 467 | |
29/58 |
83,423 | 59,537 | 45,924 | 100,223 | 109,868 | 103,848 | 96,153 | 84,740 | 75,335 | 62,205 | 48,264 | |
40/41 |
38,391 | 52,100 | 25,330 | 30,613 | 40,723 | 40,050 | 29,531 | 46,530 | 37,545 | 31,055 | 31,915 | |
40 |
38,391 | 49,563 | 18,378 | 10,024 | 36,887 | 35,731 | 24,869 | 39,646 | 36,959 | 31,047 | 31,678 | |
41 |
0 | 2,537 | 6,952 | 20,589 | 3,836 | 4,319 | 4,662 | 6,884 | 586 | 7 | 237 | |
54/58 |
42,257 | 4,815 | 15,651 | 62,089 | 65,370 | 60,618 | 64,321 | 35,266 | 36,946 | 30,659 | 15,584 | |
490/1 |
2,775 | 2,622 | 4,943 | 7,521 | 3,775 | 3,180 | 2,300 | 2,944 | 844 | 492 | 765 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
88,071 | 64,063 | 55,759 | 114,651 | 122,085 | 111,589 | 97,326 | 87,087 | 75,997 | 64,490 | 49,519 | |
10/15 |
58,453 | 28,602 | 20,168 | 61,641 | 115,960 | 105,221 | 95,667 | 77,844 | 65,243 | 49,050 | 30,164 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | 6,200 | 6,200 | 6,200 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,240 | 1,240 | |
130/1 |
- | - | - | 0 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,240 | 1,240 | |
1311 |
- | - | - | 0 | 1,860 | 1,860 | - | - | - | - | - | |
133 |
1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
14 |
37,993 | 8,142 | -292 | 41,181 | 95,500 | 84,761 | 75,207 | 57,384 | 50,983 | 35,410 | 16,524 | |
17/49 |
29,618 | 35,461 | 35,591 | 53,010 | 6,125 | 6,368 | 1,659 | 9,243 | 10,754 | 15,439 | 19,354 | |
42/48 |
29,618 | 35,461 | 35,591 | 53,010 | 6,125 | 6,168 | 1,659 | 9,243 | 10,754 | 14,939 | 19,354 | |
43 |
2,365 | 249 | - | - | - | - | - | - | - | - | - | |
430/8 |
2,365 | 249 | - | - | - | - | - | - | - | - | - | |
44 |
334 | 1,809 | 904 | 0 | 214 | 70 | 402 | 889 | 478 | 2,882 | 67 | |
440/4 |
334 | 1,809 | 904 | 0 | 214 | 70 | 402 | 889 | 478 | 2,882 | 67 | |
45 |
11,553 | 5,007 | 9,004 | 3,000 | 5,891 | 6,098 | 1,257 | 8,354 | 10,277 | 12,058 | 11,287 | |
450/3 |
11,553 | 5,007 | 9,004 | 3,000 | 5,891 | 4,098 | 1,257 | 8,354 | 10,277 | 10,058 | 10,787 | |
454/9 |
- | - | - | - | - | 2,000 | - | - | - | 2,000 | 500 | |
47/48 |
15,367 | 28,396 | 25,684 | 50,010 | 20 | - | - | - | - | - | 8,000 | |
492/3 |
- | - | - | - | - | 200 | - | - | - | 500 | - | |
| Income statement | ||||||||||||
9900 |
34,262 | 15,988 | -32,651 | 2,357 | 17,332 | 14,756 | 25,162 | 11,231 | 25,287 | 28,607 | 34,174 | |
630 |
2,806 | 6,636 | 7,954 | 5,498 | 3,185 | 2,308 | 1,174 | 1,942 | 1,622 | 1,801 | 896 | |
640/8 |
882 | 760 | 879 | 695 | 565 | 564 | 561 | 447 | 410 | 124 | - | |
9901 |
30,574 | 8,592 | -41,484 | -3,836 | 13,582 | 11,884 | 23,427 | 8,841 | 23,256 | 26,682 | 33,278 | |
75/76B |
12 | 11 | 125 | 382 | 141 | 129 | 39 | 241 | 37 | 28 | 6 | |
75 |
12 | 11 | 125 | 382 | 141 | 129 | 39 | 241 | 37 | 28 | 6 | |
65/66B |
113 | 167 | 114 | 280 | 391 | 478 | 624 | 202 | 53 | 78 | 53 | |
65 |
113 | 167 | 114 | 280 | 391 | 478 | 624 | 202 | 53 | 78 | 53 | |
9903 |
30,473 | 8,436 | -41,474 | -3,733 | 13,333 | 11,535 | 22,841 | 8,881 | 23,239 | 26,632 | 33,231 | |
67/77 |
622 | 2 | 0 | 585 | 2,594 | 1,981 | 5,019 | 2,479 | 7,046 | 7,747 | 7,466 | |
9904 |
29,851 | 8,434 | -41,474 | -4,319 | 10,739 | 9,554 | 17,823 | 6,401 | 16,193 | 18,886 | 25,764 | |
9905 |
29,851 | 8,434 | -41,474 | -4,319 | 10,739 | 9,554 | 17,823 | 6,401 | 16,193 | 18,886 | 25,764 | |
| Appropriation of the result | ||||||||||||
9906 |
37,993 | 8,142 | -292 | 91,181 | 95,500 | 84,761 | 75,207 | 57,384 | 51,603 | 35,410 | 25,764 | |
14P |
8,142 | -292 | 41,181 | 95,500 | 84,761 | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | 620 | - | 1,240 | |
6920 |
- | - | - | - | - | - | - | - | 620 | - | 1,240 | |
694/7 |
- | - | 0 | 50,000 | - | - | - | - | - | - | 8,000 | |
694 |
- | - | 0 | 50,000 | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | - | - | - | 8,000 | |
| 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 09-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-06-2026 | 2026-00147274 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00224191 | |
| 31-12-2023 | micro format | 18-07-2024 | 2024-00265578 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00224462 | |
| 31-12-2021 | micro format | 23-07-2022 | 2022-20225342 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-24800111 | |
| 31-12-2019 | micro format | 26-06-2020 | 2020-21300381 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-41300552 | |
| 31-12-2017 | micro format | 18-07-2018 | 2018-34600396 | |
| 31-12-2016 | micro format | 28-07-2017 | 2017-39000112 | |
| 31-12-2015 | abbreviated format | 30-06-2016 | 2016-26200179 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €53 | €0 |
| 2024 | 1 | €195 | €195 |
| 2023 | 1 | €128 | €128 |
| 2022 | 1 | €452 | €452 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 33,380 | 15,228 | -33,530 | 1,662 | 16,767 | 14,192 | 24,601 | 10,783 | 24,877 | 28,483 | 34,174 | ||
| 32,657 | 15,070 | -33,520 | 1,180 | 13,924 | 11,863 | 18,996 | 8,344 | 17,814 | 20,687 | 26,661 | ||
| 2,929 | 1,327 | 3,360 | 7,710 | 7,660 | 8,876 | 0 | 3,627 | 0 | 2,831 | 2,151 | ||
| 37,442 | -10,836 | -46,438 | -3,282 | 4,752 | -3,703 | 29,055 | -1,679 | 6,286 | 15,075 | - | ||
| 53,804 | 24,076 | 10,333 | 47,213 | 103,744 | 97,680 | 94,493 | 75,497 | 64,580 | 47,266 | 28,910 | ||
| 66.4% | 44.6% | 36.2% | 53.8% | 95.0% | 94.3% | 98.3% | 89.4% | 85.8% | 76.1% | 60.9% | ||
| 2.82 | 1.68 | 1.29 | 1.89 | 17.94 | 16.84 | 57.95 | 9.17 | 7.00 | 4.16 | 2.49 | ||
| 0.51 | 1.24 | 1.76 | 0.86 | 0.05 | 0.06 | 0.02 | 0.12 | 0.16 | 0.31 | 0.64 | ||
| 51.1% | 29.5% | -205.6% | -7.0% | 9.3% | 9.1% | 18.6% | 8.2% | 24.8% | 38.5% | 85.4% | ||
| 33.9% | 13.2% | -74.4% | -3.8% | 8.8% | 8.6% | 18.3% | 7.4% | 21.3% | 29.3% | 52.0% | ||
| over 100 | 91.26 | -293.33 | 5.94 | 42.88 | - | - | - | - | - | - |
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 | €2,929 | €1,327 | €3,360 | €7,710 | €7,660 |
| €2,806 | €6,636 | €7,954 | €5,498 | €3,185 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is nearly 3.6 times that of 2024 and the highest since 2015. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 55.4% to 33.6%. Equity is higher and debt is lower.
K2Engineering has no parent and no holdings in its annual accounts. KELLENS Karl is the only director.
| Kelmo Consulting
registered office since 12-05-2022 · founded in 2022 |
total assets €349,414 (2025) 0785.963.482 |
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
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 |
|---|---|---|
| Armand Maclotlaan 33 registered office 3600 Genk | 30-10-2014 | 2.236.744.279 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71016I1243/00B000 | 1,608 m² | 1 · 229 m² | 12.1 m · 2 |
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