LIBRAFAR
ActiveSummary
LIBRAFAR has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6,392 and a net result of -€2,755. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 10% of 39,272 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 06-07-2001 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 7 others
- Establishment units
- 2.100.451.163 8460 Oudenburg, since 13-09-2001
- 2.310.271.863 8480 Ichtegem, since 30-09-2020
- Financial year end
- 31 March
- Peppol
- Reachable since 31-10-2023
Board and ownership
- Couckhuyt CedricDirector
- Couckhuyt DiederikDirector
- Couckhuyt KyanaDirector
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.8%
- Gross margin
- €108,439
- ▼ 9.6%
- Turnover
- ≈ €180,000
- estimated
- Loss
- €2,755
- Equity
- €6,392
- ▼ 30.1%
- Total assets
- €701,132
- ▼ 5.0%
- Staff
- 0.8 FTE
- ▼ 20.0%
- 2026 accounts not filed, 2 days past the deadline
Score breakdownraises riskLiquidity: current ratio 0.35, cash €1,006, halvedFigures for financial year 2025 (filed on 28-10-2025)lowers riskSize: total assets €701,132Sector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 10% of them on solvency, 13% on liquidity, 25% on profitability and 18% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 96 days 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.
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 28-10-2025 PDF all 22 filings
Amounts without an identifiable currency are taken as euros.
2021 to 2025, 5 financial years 2019 to 2025, 6 financial years
The operating result for 2025 is 67% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Staff
| Item | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - |
| full-time | 1 | 1 | - |
| in full-time equivalents | 1 | 1 | - |
| Average over the year, in full-time equivalents | 1 | 1 | 0.8 |
| On a permanent contract | 1 | 1 | - |
| Joined | - | - | 0 |
| Left | - | - | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €9,913 | €35,000 | €3,174 | €917 |
| Depreciation and write-downs of the year | €34,254 | €42,978 | €43,802 | €44,048 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €28,747 | €48,516 | €45,779 | €47,191 | ▲ 3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,530 | €49,587 | €34,254 | €42,978 | €43,802 | €44,048 | ▲ 0.6% |
| Other operating charges640/8 | - | - | €12,275 | €2,721 | €956 | €7,545 | ▲ 690% |
| Gross operating margin9900 | €45,333 | €49,139 | €53,942 | €97,660 | €119,905 | €108,439 | ▼ 9.6% |
| Operating profit (loss)9901 | €412 | -€3,605 | -€21,335 | €3,445 | €29,369 | €9,656 | ▼ 67.1% |
| Financial income75/76B | - | - | €35 | €50 | €23 | €1 | ▼ 96.4% |
| Recurring financial income75 | - | - | €35 | €50 | €23 | €1 | ▼ 96.4% |
| Financial charges65/66B | - | - | €20,378 | €13,803 | €12,712 | €12,412 | ▼ 2.4% |
| Recurring financial charges65 | €17,278 | €28,361 | €20,378 | €13,803 | €12,712 | €12,412 | ▼ 2.4% |
| Profit (loss) for the period before taxes9903 | -€7,143 | -€31,967 | -€41,677 | -€10,308 | €16,680 | -€2,755 | - |
| Profit (loss) for the period9904 | -€7,143 | -€31,967 | -€41,677 | -€10,308 | €16,680 | -€2,755 | - |
| Profit (loss) for the period to be appropriated9905 | -€7,143 | -€31,967 | -€41,677 | -€10,308 | €16,680 | -€2,755 | - |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €803,970 | €825,913 | €835,273 | €797,773 | €738,244 | €701,132 | ▼ 5.0% |
| Fixed assets21/28 | €759,980 | €711,285 | €686,944 | €678,966 | €638,338 | €595,207 | ▼ 6.8% |
| Tangible fixed assets22/27 | €759,980 | €711,285 | €686,944 | €678,966 | €638,338 | €595,207 | ▼ 6.8% |
| Land and buildings22 | - | - | €678,028 | €645,608 | €614,307 | €581,810 | ▼ 5.3% |
| Plant, machinery and equipment23 | - | - | €7,609 | €5,853 | €5,592 | €4,024 | ▼ 28.0% |
| Furniture and vehicles24 | - | - | €1,308 | €27,505 | €18,439 | €9,373 | ▼ 49.2% |
| Current assets29/58 | €43,990 | €114,628 | €148,329 | €118,806 | €99,906 | €105,925 | ▲ 6.0% |
| Amounts receivable within one year40/41 | €43,582 | €109,696 | €138,355 | €107,061 | €88,237 | €103,908 | ▲ 17.8% |
| Trade receivables40 | - | - | €91,762 | €106,423 | €88,007 | €100,371 | ▲ 14.0% |
| Other amounts receivable41 | - | - | €46,593 | €639 | €230 | €3,537 | ▲ 15× |
| Cash at bank and in hand54/58 | €408 | €4,932 | €9,178 | €11,745 | €11,669 | €1,006 | ▼ 91.4% |
| Deferred charges and accrued income490/1 | - | - | €795 | - | - | €1,010 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €803,970 | €825,913 | €835,273 | €797,773 | €738,244 | €701,132 | ▼ 5.0% |
| Equity10/15 | €76,418 | €44,452 | €2,775 | -€7,533 | €9,147 | €6,392 | ▼ 30.1% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €64,537 | €64,537 | €64,537 | €64,537 | €64,537 | €64,537 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | - | - | - | - |
| Other1319 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | €62,677 | €62,677 | €62,677 | €62,677 | = |
| Profit (loss) carried forward14 | -€6,719 | -€38,686 | -€80,363 | -€90,671 | -€73,990 | -€76,745 | ▼ 3.7% |
| Amounts payable17/49 | €727,551 | €781,462 | €832,498 | €805,306 | €729,097 | €694,740 | ▼ 4.7% |
| Amounts payable after more than one year17 | €539,483 | €501,795 | €463,230 | €492,354 | €443,154 | €392,834 | ▼ 11.4% |
| Financial debts170/4 | - | - | €463,230 | €492,354 | €443,154 | €392,834 | ▼ 11.4% |
| Amounts payable within one year42/48 | €187,676 | €279,604 | €369,204 | €312,952 | €285,943 | €301,905 | ▲ 5.6% |
| Current portion of amounts payable after more than one year42 | - | - | €38,564 | €48,104 | €49,200 | €50,319 | ▲ 2.3% |
| Trade debts44 | €8,632 | - | €8,796 | €16,446 | €21,656 | €20,663 | ▼ 4.6% |
| Suppliers440/4 | - | - | €8,796 | €16,446 | €21,656 | €20,663 | ▼ 4.6% |
| Advances received on contracts in progress46 | - | - | €23,345 | €32,188 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €9,543 | €9,428 | €8,759 | €21,386 | ▲ 144% |
| Taxes450/3 | - | - | €1,146 | €5,002 | €7,396 | €17,320 | ▲ 134% |
| Remuneration and social security454/9 | - | - | €8,397 | €4,426 | €1,364 | €4,066 | ▲ 198% |
| Other amounts payable47/48 | - | - | €288,957 | €206,785 | €206,328 | €209,537 | ▲ 1.6% |
| Accrued charges and deferred income492/3 | - | - | €64 | - | - | - | - |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,143 | -€31,967 | -€41,677 | -€10,308 | €16,680 | -€2,755 | - |
| + Depreciation and write-downs630 | €33,530 | €49,587 | €34,254 | €42,978 | €43,802 | €44,048 | ▲ 0.6% |
| Operating cash flow (approximation) | €26,387 | €17,621 | -€7,423 | €32,670 | €60,482 | €41,293 | ▼ 31.7% |
| Investment in fixed assets (approximation) | - | - | -€9,913 | -€35,000 | -€3,174 | -€917 | ▲ 71.1% |
| Change in cash | - | - | €4,246 | €2,567 | -€77 | -€10,662 | ▼ 13,808% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 974 companies had the same profile as LIBRAFAR has now. Two years later, 2.3% had gone bankrupt and 92.8% were still going.
- Micro
- 20 years or older
- solvency under 10%
- a small loss
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LIBRAFAR itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,446 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 974 companies, not a prediction for LIBRAFAR. 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.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 28-10-2025 | 2025-00550790 | |
| 31-03-2024 | micro format | 25-10-2024 | 2024-00514226 | |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00498714 | |
| 31-03-2022 | micro format | 03-11-2022 | 2022-20482590 | |
| 31-03-2021 | micro format | 16-11-2021 | 2021-77300071 | |
| 30-09-2019 | micro format | 16-11-2021 | 2021-77300070 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11800315 | |
| 30-09-2017 | micro format | 09-04-2018 | 2018-09900036 | |
| 30-09-2016 | abbreviated format | 28-04-2017 | 2017-11000474 | |
| 30-09-2015 | abbreviated format | 31-03-2016 | 2016-09200001 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Couckhuyt Cedric |
|
| Couckhuyt Diederik |
|
| Couckhuyt Kyana |
|
Network & group
LIBRAFAR shares no director with another company.
Connections & network
3 current directorsThe network starts from the directors of LIBRAFAR. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 35003B0063/00T002 | Flanders | 7,024 m² | 1 · 565 m² | 12.4 m · 1 |
| 35004C0462/00G000 | Flanders | 915 m² | 1 · 287 m² | 6.8 m · 1 |