NAEDOL
ActiveSummary
NAEDOL has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €102,999 and a net result of €45,097. Equity is growing by ~49% per year across the filed fiscal years. Its solvency ranks better than 22% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability81▼-19
Solvency48▼-52
Growth78=
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.24 against 4.74 in 2023; short-term debt: 25.9% and cash: 4.9% of total assets), and 77% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
23%
Return on assets
10.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 37948 sector peers (2024).
NBB · sector comparisonPosition among 37948 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-08-2025, 12 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
12 d late
2023
27 d early
2022
73 d early
2021
86 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 44 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€102,999▼ 27.2%
2023 · €141,402
Total assets
€447,516▲ 158%
2023 · €173,447
Net result
€45,097▼ 44.1%
2023 · €80,635
Working capital
€27,762▼ 76.9%
2023 · €119,974
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line2021202220232024
Operating result€15,501-€67,899▲ 338%€104,749▲ 54.3%€61,430▼ 41.4%
Net result€11,512within the sector's middle half-€52,788within the sector's middle half▲ 359%€80,635above the sector's middle half▲ 52.8%€45,097within the sector's middle half▼ 44.1%
Equity€11,500below the sector's middle half-€61,600within the sector's middle half▲ 436%€141,402within the sector's middle half▲ 130%€102,999within the sector's middle half▼ 27.2%
Total assets€30,881below the sector's middle half-€93,786within the sector's middle half▲ 204%€173,447within the sector's middle half▲ 84.9%€447,516within the sector's middle half▲ 158%
Debt€19,381-€32,186▲ 66.1%€32,045▼ 0.4%€344,517▲ 975%
Working capital€11,848-€37,482▲ 216%€119,974▲ 220%€27,762▼ 76.9%
Solvency37.2%within the sector's middle half-65.7%within the sector's middle half▲ 28.4pp81.5%above the sector's middle half▲ 15.8pp23.0%below the sector's middle half▼ 58.5pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 41% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €447,516
Fixed assets
€303,695 ▲ 1,317%
Current assets
€143,821 ▼ 5.4%
Equity and liabilities €447,516
Equity
€102,999 ▼ 27.2%
Debt
€344,517 ▲ 975%
Debt's share of the balance-sheet total rises from 18.5% to 77.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€67,797▼
2023 · €107,440
Cash flow
€51,464▼
2023 · €83,326
Current ratio
1.24▼
2023 · 4.74
Debt to equity
3.34▲
2023 · 0.23
ROE
43.8%▼
2023 · 57.0%
ROA
10.1%▼
2023 · 46.5%
Interest coverage
10.70▼
2023 · 60.18
Debt ≤ 1 year
€116,059▲
2023 · €32,045
Debt > 1 year
€226,572
Income taxes
€15,727▼
2023 · €24,504
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,703 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
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 0.5% 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 497,058 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% | 1.6% |
| 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 74% 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 6,703 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 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,335 | €2,691 | €6,367 | ▲ 137% |
| Other operating charges640/8 | €714 | €1,871 | €2,162 | €34,646 | ▲ 1,503% |
| Gross operating margin9900 | €16,214 | €71,104 | €109,602 | €102,444 | ▼ 6.5% |
| Operating profit (loss)9901 | €15,501 | €67,899 | €104,749 | €61,430 | ▼ 41.4% |
| Financial income75/76B | - | €320 | €2,175 | €5,731 | ▲ 164% |
| Recurring financial income75 | - | €320 | €2,175 | €5,731 | ▲ 164% |
| Financial charges65/66B | €49 | €914 | €1,785 | €6,337 | ▲ 255% |
| Recurring financial charges65 | €49 | €914 | €1,785 | €6,337 | ▲ 255% |
| Profit (loss) for the period before taxes9903 | €15,452 | €67,305 | €105,139 | €60,825 | ▼ 42.1% |
| Income taxes67/77 | €3,940 | €14,517 | €24,504 | €15,727 | ▼ 35.8% |
| Profit (loss) for the period9904 | €11,512 | €52,788 | €80,635 | €45,097 | ▼ 44.1% |
| Profit (loss) for the period to be appropriated9905 | €11,512 | €52,788 | €80,635 | €45,097 | ▼ 44.1% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €30,881 | €93,786 | €173,447 | €447,516 | ▲ 158% |
| Fixed assets21/28 | - | €24,118 | €21,428 | €303,695 | ▲ 1,317% |
| Tangible fixed assets22/27 | - | €24,118 | €21,428 | €303,695 | ▲ 1,317% |
| Land and buildings22 | - | - | - | €284,958 | - |
| Furniture and vehicles24 | - | €1,299 | €1,008 | €717 | ▼ 28.9% |
| Other tangible fixed assets26 | - | €22,819 | €20,419 | €18,020 | ▼ 11.8% |
| Current assets29/58 | €30,881 | €69,667 | €152,020 | €143,821 | ▼ 5.4% |
| Amounts receivable after more than one year29 | - | €27,500 | €17,500 | - | - |
| Other amounts receivable291 | - | €27,500 | €17,500 | - | - |
| Amounts receivable within one year40/41 | - | €16 | €36,644 | €114,777 | ▲ 213% |
| Trade receivables40 | - | - | - | €10,344 | - |
| Other amounts receivable41 | - | €16 | €36,644 | €104,433 | ▲ 185% |
| Current investments50/53 | - | - | €50,000 | - | - |
| Cash at bank and in hand54/58 | €30,881 | €41,762 | €36,559 | €21,998 | ▼ 39.8% |
| Deferred charges and accrued income490/1 | - | €389 | €11,317 | €7,046 | ▼ 37.7% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €30,881 | €93,786 | €173,447 | €447,516 | ▲ 158% |
| Equity10/15 | €11,500 | €61,600 | €141,402 | €102,999 | ▼ 27.2% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | €9,000 | €59,100 | €138,902 | €100,499 | ▼ 27.6% |
| Amounts payable17/49 | €19,381 | €32,186 | €32,045 | €344,517 | ▲ 975% |
| Amounts payable after more than one year17 | - | - | - | €226,572 | - |
| Financial debts170/4 | - | - | - | €226,572 | - |
| Amounts payable within one year42/48 | €19,033 | €32,186 | €32,045 | €116,059 | ▲ 262% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,685 | - |
| Financial debts43 | - | - | €797 | €36 | ▼ 95.5% |
| Credit institutions430/8 | - | - | €797 | €36 | ▼ 95.5% |
| Trade debts44 | €215 | €284 | €1,685 | €11,073 | ▲ 557% |
| Suppliers440/4 | €215 | €284 | €1,685 | €11,073 | ▲ 557% |
| Taxes, remuneration and social security45 | €16,026 | €28,871 | €28,730 | €23,265 | ▼ 19.0% |
| Taxes450/3 | €16,026 | €28,871 | €28,730 | €23,265 | ▼ 19.0% |
| Other amounts payable47/48 | €2,793 | €3,031 | €833 | €65,000 | ▲ 7,703% |
| Accrued charges and deferred income492/3 | €348 | - | - | €1,886 | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,512 | €52,788 | €80,635 | €45,097 | ▼ 44.1% |
| + Depreciation and write-downs630 | - | €1,335 | €2,691 | €6,367 | ▲ 137% |
| Operating cash flow (approximation) | €11,512 | €54,122 | €83,326 | €51,464 | ▼ 38.2% |
| Investment in fixed assets (approximation) | - | - | €0 | -€288,634 | - |
| Change in cash | - | €10,881 | -€5,203 | -€14,560 | ▼ 180% |
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
2026
11-09
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
01-07
State Gazette act
Incorporation · Founder
Member admission · Corporate purpose
2025
14-08
State Gazette act
Board meeting · Power of attorney
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 12 days late
28-07
State Gazette act
Board meeting · Power of attorney
Stijn JOYE
03-03
State Gazette act
General meeting · Statutes amendment
Corporate purpose · Capital · Frank Muller
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
19-03
State Gazette act
General meeting · Director reappointment
Director resignation · Director appointment
2023
31-12
Financial
Highest result since 2021net €80,635 ▲52.8%
Operating result €104,749, net result €80,635, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.74
Current ratio from 2.16 to 4.74; short-term debt falls from €32,186 to €32,045.
31-12
Financial
Equity above €100,000Eq €141,402 ▲130%
3 profitable years in a row build equity to €141,402.
19-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-09
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
06-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Ramillies · 1 establishment unit since 2021
Ground area
2,185 m²
Building footprint
134 m²
Volume, LiDAR
828 m³
Parcel 25030B0565/00A000, Wallonia · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
NAEDOL
since 20212.318.657.910
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25030B0565/00A000 | Wallonia | 2,185 m² | 1 · 134 m² | 7.9 m · 2 fl. |
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.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
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Shareholding
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Ownership & control
3 board mandatesBoard mandates of this companythis company sits on their board3
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 40,623 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
Founded08-06-2021
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0769445669
Also
9925:BE0769445669
Registered
14-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.