Equity
LEVEL NEXT has made a profit without a break since 2016.
LEVEL NEXT has made a profit without a break since 2016.
Of this, €3.3m falls due within a year.
In 2025, 2 people joined and 3 left.
Board changed. Latest change 09-02-2026 · 0 in office.
Lower solvency than 83% of companies in head offices and management consultancy. Sector median 52.4% · 10,858 companies.
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 3 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 17% of them on solvency, 2% on liquidity, 27% on profitability and 56% 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, 4,508 companies had the same profile as LEVEL NEXT has now. Each dot stands for 12 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LEVEL NEXT itself: 0.3% 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 4,508 companies, not a prediction for LEVEL NEXT. 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 tight, with a current ratio of 1.12 (1.45 in 2024), below the usual 1.5. Short-term debt is 89% and cash 0.9% of total assets. 89% 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 8 days before 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 | ||||
|---|---|---|---|---|
| LEVEL NEXT Kraainem | €3.7m | €199,252 | 11.0% | 1.5 |
| GROUP LN Ghent | €3.2m | €218,319 | 43.5% | 1.8 |
| Humon Ingelmunster | €3.9m | €248,176 | 70.3% | 1.8 |
| COGEBI MANAGEMENT Beersel | €5.1m | €172,986 | 3.1% | 1 |
| EMSOFI Halle | €2.7m | €210,219 | 84.6% | 1 |
| VEEP HOLDING Mont-Saint-Guibert | €3.4m | €255,296 | 55.4% | 1.5 |
| MANAGEMENT SABRINE ELSEN Chaudfontaine | €2.8m | €202,979 | 38.6% | 1 |
These companies have the same main activity as LEVEL NEXT: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €2.7m and €5.1m, founded between 2006 and 2012.
LEVEL NEXT files the abbreviated format. That format states no turnover. The gross margin rose from €28,094 in 2013 to €199,252 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €320,000. Estimated: probably between €260,000 and €420,000.
Higher than 16% of 10,858 companies in 2025.
Higher than 41% of 10,480 companies in 2025.
Higher than 29% of 10,727 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 2 people joined and 3 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
3.7m | 1.1m | 2.2m | 2.6m | 2.0m | 637,494 | 1.0m | 277,368 | 271,921 | 241,043 | 169,517 | 109,937 | 65,102 | |
21/28 |
16,997 | 22,949 | 73,257 | 38,013 | 695,969 | 40,064 | 3,707 | 2,113 | 3,720 | 6,031 | 15,779 | 24,284 | 37,111 | |
21 |
- | - | - | - | - | - | - | - | 1,320 | 2,640 | - | - | - | |
22/27 |
16,997 | 22,949 | 73,257 | 23,388 | 681,344 | 25,439 | 3,707 | 2,113 | 2,401 | 3,391 | 15,779 | 24,284 | 37,111 | |
22 |
- | - | - | 0 | 653,936 | - | - | - | - | - | - | - | - | |
23 |
1,108 | 3,005 | 4,891 | 6,790 | 6,521 | 1,229 | 1,228 | 1,861 | 1,321 | 1,398 | 2,097 | - | - | |
24 |
15,889 | 19,944 | 68,366 | 16,598 | 20,887 | 24,210 | 2,479 | 251 | 1,080 | 1,993 | 13,682 | 24,284 | 37,111 | |
28 |
- | - | 0 | 14,625 | 14,625 | 14,625 | - | - | - | - | - | - | - | |
29/58 |
3.6m | 1.1m | 2.1m | 2.6m | 1.3m | 597,430 | 1.0m | 275,256 | 268,201 | 235,012 | 153,738 | 85,653 | 27,992 | |
40/41 |
325,862 | 384,866 | 235,822 | 130,450 | 55,720 | 27,823 | 82,646 | 59,407 | 51,001 | 10,890 | 35,209 | 71,356 | 13,608 | |
40 |
125,710 | 199,907 | 121,197 | 130,450 | 51,360 | 27,823 | 58,228 | 59,407 | 49,030 | 5,200 | 35,209 | 70,726 | 12,524 | |
41 |
200,152 | 184,959 | 114,625 | 0 | 4,360 | - | 24,418 | - | 1,971 | 5,690 | - | 630 | 1,084 | |
50/53 |
252,500 | 220,711 | 474,888 | 175,332 | 175,332 | 175,332 | 175,332 | 175,332 | 175,332 | 100,000 | 100,000 | - | - | |
54/58 |
33,888 | 143,837 | 68,229 | 1.3m | 187,618 | 265,899 | 136,304 | 40,517 | 41,868 | 117,622 | 16,829 | 12,597 | 12,684 | |
490/1 |
3.0m | 372,548 | 1.3m | 1.0m | 930,289 | 128,376 | 624,014 | - | - | 6,500 | 1,700 | 1,700 | 1,700 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
3.7m | 1.1m | 2.2m | 2.6m | 2.0m | 637,494 | 1.0m | 277,368 | 271,921 | 241,043 | 169,517 | 109,937 | 65,102 | |
10/15 |
402,629 | 368,361 | 399,264 | 395,023 | 288,105 | 209,773 | 141,883 | 101,539 | 55,510 | 43,330 | 11,944 | 14,767 | 2,175 | |
10/11 |
18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 6,200 | |
100 |
- | - | - | - | - | - | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | 12,350 | |
13 |
384,079 | 349,811 | 380,714 | 376,473 | 269,555 | 191,223 | 123,333 | 82,989 | 36,960 | 24,780 | - | - | - | |
130/1 |
- | 0 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,855 | 1,855 | 1,855 | 1,240 | - | - | - | |
1311 |
- | 0 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | - | - | - | |
133 |
384,079 | 349,811 | 378,859 | 374,618 | 267,700 | 189,368 | 121,478 | 81,134 | 35,105 | 23,540 | - | - | - | |
14 |
0 | 0 | 0 | - | - | - | - | - | - | - | -6,606 | -3,783 | -4,025 | |
17/49 |
3.3m | 776,549 | 1.8m | 2.2m | 1.8m | 427,721 | 880,120 | 175,829 | 216,411 | 197,713 | 157,573 | 95,170 | 62,927 | |
17 |
- | - | - | 0 | 529,867 | - | - | - | - | - | - | - | - | |
170/4 |
- | - | - | 0 | 529,867 | - | - | - | - | - | - | - | - | |
42/48 |
3.3m | 775,938 | 1.8m | 2.2m | 1.2m | 424,550 | 873,468 | 175,829 | 193,011 | 175,313 | 157,573 | 95,170 | 47,927 | |
42 |
- | - | - | 0 | 57,785 | - | - | - | - | - | - | - | - | |
43 |
994 | 20 | 282 | - | - | - | - | - | - | - | - | - | - | |
430/8 |
994 | 20 | 282 | - | - | - | - | - | - | - | - | - | - | |
44 |
3.2m | 713,084 | 1.7m | 2.1m | 1.0m | 281,192 | 769,194 | 32,648 | 66,163 | 32,989 | 45,425 | 72,622 | 31,341 | |
440/4 |
3.2m | 713,084 | 1.7m | 2.1m | 1.0m | 281,192 | 769,194 | 32,648 | 66,163 | 32,989 | 45,425 | 72,622 | 31,341 | |
45 |
11,275 | 62,170 | 61,871 | 83,879 | 44,703 | 68,046 | 14,781 | 26,199 | 11,167 | 30,369 | 3,405 | 10,012 | 3,202 | |
450/3 |
3,373 | 40,190 | 40,119 | 58,900 | 30,301 | 56,818 | 14,781 | 26,199 | 11,167 | 30,369 | 3,405 | 10,012 | 3,202 | |
454/9 |
7,902 | 21,980 | 21,753 | 24,980 | 14,402 | 11,228 | - | - | - | - | - | - | - | |
47/48 |
1,684 | 664 | 3,489 | 87,080 | 79,568 | 75,312 | 89,493 | 116,983 | 115,681 | 111,955 | 108,743 | 12,536 | 13,385 | |
492/3 |
19 | 611 | 0 | 3,400 | 3,099 | 3,170 | 6,652 | - | 23,400 | 22,400 | - | - | 15,000 | |
| Income statement | ||||||||||||||
76A |
- | 0 | 58,770 | 0 | 4,052 | - | - | - | - | - | - | 10 | - | |
9900 |
199,252 | 282,935 | 351,046 | 296,463 | 279,679 | 163,401 | 76,836 | 87,595 | 34,911 | 78,942 | 15,610 | 21,987 | 28,094 | |
62 |
107,439 | 175,608 | 137,984 | 115,304 | 73,672 | 50,260 | - | - | - | - | - | - | - | |
630 |
11,764 | 13,108 | 17,894 | 6,266 | 10,842 | 2,722 | 2,218 | 3,263 | 3,536 | 15,349 | 13,462 | 12,826 | 25,653 | |
640/8 |
2,213 | 2,310 | 3,743 | 2,808 | 67,881 | 2,251 | 1,513 | 1,014 | 1,261 | 1,759 | 1,336 | 982 | 2,238 | |
66A |
0 | 3,396 | - | - | - | - | - | - | - | - | - | - | 990 | |
9901 |
77,835 | 88,512 | 191,423 | 172,084 | 127,285 | 108,168 | 73,106 | 83,318 | 30,114 | 61,834 | 811 | 8,178 | 204 | |
75/76B |
1,964 | 12,862 | 5,479 | 603 | 20 | 0 | 1 | 1 | 100 | 35 | 7 | 5 | 653 | |
75 |
1,964 | 12,862 | 5,479 | 603 | 20 | 0 | 1 | 1 | 100 | 35 | 7 | 5 | 653 | |
65/66B |
19,061 | 55,280 | 136,216 | 9,900 | 5,697 | 3,252 | 6,746 | 7,514 | 6,977 | 6,583 | 612 | 1,053 | 892 | |
65 |
19,061 | 55,280 | 136,216 | 9,900 | 5,697 | 3,252 | 6,746 | 7,514 | 6,977 | 6,583 | 612 | 1,053 | 892 | |
9903 |
60,738 | 46,094 | 60,687 | 162,787 | 121,607 | 104,916 | 66,360 | 75,805 | 23,238 | 55,287 | 207 | 7,139 | -1,025 | |
67/77 |
26,471 | 30,968 | 54,144 | 55,869 | 43,275 | 37,026 | 26,017 | 29,777 | 11,058 | 23,900 | 3,030 | 6,897 | 3,000 | |
9904 |
34,268 | 15,126 | 6,543 | 106,918 | 78,332 | 67,890 | 40,344 | 46,029 | 12,180 | 31,386 | -2,823 | 242 | -4,025 | |
9905 |
34,268 | 15,126 | 6,543 | 106,918 | 78,332 | 67,890 | 40,344 | 46,029 | 12,180 | 31,386 | -2,823 | 242 | -4,025 | |
| Appropriation of the result | ||||||||||||||
9906 |
34,268 | 15,126 | 6,543 | 106,918 | 78,332 | 67,890 | 40,344 | 46,029 | 12,180 | 24,780 | -6,606 | -3,783 | -4,025 | |
791/2 |
0 | 46,029 | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
34,268 | 15,126 | 4,241 | 106,918 | 78,332 | 67,890 | 40,344 | 46,029 | 12,180 | 24,780 | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | 615 | 1,240 | - | - | - | |
6921 |
34,268 | 15,126 | 4,241 | 106,918 | 78,332 | 67,890 | 40,344 | 46,029 | 11,565 | 23,540 | - | - | - | |
694/7 |
0 | 46,029 | 2,302 | - | - | - | - | - | - | - | - | - | - | |
694 |
0 | 46,029 | - | - | - | - | - | - | - | - | - | - | - | |
696 |
- | 0 | 2,302 | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||
9087 |
1.5 | 2.8 | 2.1 | 2.3 | 1.5 | 1.2 | - | - | - | - | - | - | - | |
Hours worked1013 |
2,858 | 4,853 | 3,719 | 4,020 | 2,862 | 2,007 | - | - | - | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00223442 | |
| 31-12-2024 | abbreviated format | 28-07-2025 | 2025-00317037 | |
| 31-12-2023 | abbreviated format | 26-06-2024 | 2024-00171048 | |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00298801 | |
| 31-12-2021 | abbreviated format | 30-07-2022 | 2022-20267460 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-45100252 | |
| 31-12-2019 | micro format | 18-08-2020 | 2020-42000345 | |
| 31-12-2018 | micro format | 07-06-2019 | 2019-17100518 | |
| 31-12-2017 | micro format | 27-08-2018 | 2018-51200050 | |
| 31-12-2016 | micro format | 03-07-2017 | 2017-26800222 | |
| 31-12-2015 | abbreviated format | 22-08-2016 | 2016-45600377 | |
| 31-12-2014 | abbreviated format | 09-07-2015 | 2015-29000158 | |
| 31-12-2013 | abbreviated format | 27-08-2014 | 2014-54700180 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 89,599 | 101,621 | 209,318 | 178,350 | 138,126 | 110,889 | 75,323 | 86,581 | 33,650 | 77,184 | 14,273 | 21,004 | 25,857 | ||
| 46,032 | 28,234 | 24,438 | 113,184 | 89,174 | 70,612 | 42,561 | 49,292 | 15,716 | 46,736 | 10,640 | 13,068 | 21,628 | ||
| 5,812 | 1,490 | 67,764 | 13,225 | 666,747 | 39,079 | 3,812 | 1,655 | 1,226 | 5,601 | 4,957 | 0 | 62,763 | ||
| -109,948 | 75,608 | -1.2m | 1.1m | -78,280 | 129,595 | 95,787 | -1,352 | -75,754 | 100,793 | 4,233 | -87 | - | ||
| 385,651 | 346,023 | 326,007 | 360,410 | 125,102 | 172,880 | 144,828 | 99,426 | 75,190 | 59,700 | -3,835 | -9,518 | -19,936 | ||
| 11.0% | 32.2% | 18.5% | 15.0% | 14.1% | 32.9% | 13.9% | 36.6% | 20.4% | 18.0% | 7.0% | 13.4% | 3.3% | ||
| 1.12 | 1.45 | 1.18 | 1.16 | 1.10 | 1.41 | 1.17 | 1.57 | 1.39 | 1.34 | 0.98 | 0.90 | 0.58 | ||
| 8.07 | 2.11 | 4.42 | 5.67 | 6.10 | 2.04 | 6.20 | 1.73 | 3.90 | 4.56 | 13.19 | 6.44 | 28.93 | ||
| 8.5% | 4.1% | 1.6% | 27.1% | 27.2% | 32.4% | 28.4% | 45.3% | 21.9% | 72.4% | -23.6% | 1.6% | -185.1% | ||
| 0.9% | 1.3% | 0.3% | 4.1% | 3.8% | 10.6% | 3.9% | 16.6% | 4.5% | 13.0% | -1.7% | 0.2% | -6.2% | ||
| 4.70 | 1.84 | 1.54 | 18.01 | 24.24 | - | - | - | - | - | - | - | - |
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 | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 3 | 3 | 2 |
| full-time | 1 | 2 | 3 | 2 | 1 |
| part-time | 0 | 0 | 0 | 1 | 1 |
| in full-time equivalents | 1 | 2 | 3 | 2.5 | 1.5 |
| 1.5 | 2.8 | 2.1 | 2.3 | 1.5 | |
| On a permanent contract | 1 | 2 | 2 | 3 | 2 |
| Joined | 2 | 1 | 4 | 2 | 1 |
| Left | 3 | 2 | 4 | 1 | 1 |
| Training hours | - | - | 570 | 24 | 24 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,812 | €1,490 | €67,764 | €13,225 | €666,747 |
| Financial fixed assets | €0 | - | - | - | - |
| €11,764 | €13,108 | €17,894 | €6,266 | €10,842 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 12% lower than in 2024 and the lowest since 2019. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 67.8% to 89.0%. Equity and debt are higher.
Source: lists of holdings in the owners' accounts
LEVEL NEXT has no parent and no holdings in its annual accounts.
| EFFICY
registered office since 13-03-2006 · founded in 2005 |
74 FTE (2025) 0875.895.449 |
| VERISURE
establishment since 15-11-2021 · founded in 1997 · group Verisure Midholding AB |
201 FTE (2025) 0459.866.904 |
| Efficy HoldCo
registered office since 16-10-2025 · founded in 2025 · group EFFICY |
total assets €124.5m (2025) 1029.273.829 |
| INFORMEX
registered office since 31-01-1983 · founded in 1983 |
12 FTE (2025) 0423.709.559 |
| NOVASOL
registered office since 13-06-1997 · founded in 1997 · group EGREGORA · accounts filed late |
13 FTE (2024) 0460.802.557 |
| Verzekeringskantoor Van Dessel
establishment since 01-04-2018 · founded in 1991 |
164 FTE (2025) 0446.433.491 |
| VERISURE SECURITY
establishment since 15-11-2021 · founded in 2005 · group Verisure Midholding AB |
390 FTE (2025) 0877.035.396 |
| Efficy Finco
registered office since 23-07-2025 · founded in 2025 · negative equity (2025) · group EFFICY |
total assets €30.0m (2025) 1025.813.503 |
| CENTER FOR CREATIVE LEADERSHIP
establishment since 27-07-1990 · founded in 1990 |
80 FTE (2019) 0544.219.785 |
| PerkinElmer (Belgium)
registered office since 18-10-2022 · founded in 2022 · accounts filed late |
32 FTE (2024) 0792.588.483 |
| LOTUS BAKERIES via CONCELLENT, at LEVEL NEXT until 2024 · Non-executive director · deed of 11-07-2024 founded in 1934 |
total assets €793.7m (2025) |
| SOPHARMA via CONCELLENT, at LEVEL NEXT until 2024 · Director · deed of 10-08-2020 founded in 2001 |
total assets €172.1m (2025) |
| BEKINA via CONCELLENT, at LEVEL NEXT until 2024 · Director · deed of 19-07-2022 founded in 1968 |
26 FTE (2025) |
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 |
|---|---|---|
| Concellent registered office Steenweg op Mechelen 455, 1950 Kraainem | 30-01-2012 | 2.206.932.716 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 22002C0073/00N009 | 1.1 ha | 1 · 865 m² | 42.8 m · 14 |
If something looks wrong or is missing, please tell us.