NL Advisory
ActiveSummary
NL Advisory has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €493,407 and a net result of €299,975. Equity is growing by ~16.5% per year across the filed fiscal years. Its solvency ranks better than 73% of 3243 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 4.65 against 5.94 in 2024; short-term debt: 21.2% and cash: 56.1% of total assets), and 21.3% of the assets are financed with debt.
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Signals
Five 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
78.7%
Return on assets
47.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-05-2026, 86 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
86 d early
2024
64 d early
2023
23 d early
2022
32 d late
2021
24 d late
2020
47 d early
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 10 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 9 July (4 of the last 5 filed years within 54 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€299,975▲ 82.5%
2024 · €164,352
Working capital
€484,661▲ 40.8%
2024 · €344,127
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€151,118▲ 52.6%€265,257▲ 75.5%€291,037▲ 9.7%€228,979▼ 21.3%€383,781▲ 67.6%
Net result€119,178within the sector's middle half▲ 55.6%€210,147within the sector's middle half▲ 76.3%€232,016within the sector's middle half▲ 10.4%€164,352within the sector's middle half▼ 29.2%€299,975within the sector's middle half▲ 82.5%
Equity€241,623within the sector's middle half▲ 97.3%€451,770within the sector's middle half▲ 87.0%€519,080within the sector's middle half▲ 14.9%€363,432within the sector's middle half▼ 30.0%€493,407within the sector's middle half▲ 35.8%
Total assets€361,055below the sector's middle half▲ 93.9%€540,002within the sector's middle half▲ 49.6%€575,915within the sector's middle half▲ 6.7%€433,641within the sector's middle half▼ 24.7%€626,589below the sector's middle half▲ 44.5%
Debt€119,432▲ 87.4%€88,232▼ 26.1%€56,836▼ 35.6%€70,209▲ 23.5%€133,182▲ 89.7%
Working capital€199,515within the sector's middle half▲ 65.1%€412,682within the sector's middle half▲ 107%€489,417within the sector's middle half▲ 18.6%€344,127within the sector's middle half▼ 29.7%€484,661within the sector's middle half▲ 40.8%
Solvency66.9%within the sector's middle half▲ 1.1pp83.7%above the sector's middle half▲ 16.7pp90.1%above the sector's middle half▲ 6.5pp83.8%above the sector's middle half▼ 6.3pp78.7%within the sector's middle half▼ 5.1pp
Current ratio2.67within the sector's middle half▼ 0.235.71above the sector's middle half▲ 3.049.61above the sector's middle half▲ 3.905.94above the sector's middle half▼ 3.674.65above the sector's middle half▼ 1.29
Return on assets (ROA)33.0%above the sector's middle half▼ 8.1pp38.9%above the sector's middle half▲ 5.9pp40.3%above the sector's middle half▲ 1.4pp37.9%above the sector's middle half▼ 2.4pp47.9%above the sector's middle half▲ 10.0pp
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.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 68% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €626,589
Fixed assets
€9,322 ▼ 53.1%
Current assets
€617,267 ▲ 49.2%
Equity and liabilities €626,589
Equity
€493,407 ▲ 35.8%
Debt
€133,182 ▲ 89.7%
Debt's share of the balance-sheet total rises from 16.2% to 21.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€392,613▲
2024 · €238,761
Cash flow
€308,806▲
2024 · €174,134
Debt to equity
0.27▲
2024 · 0.19
ROE
60.8%▲
2024 · 45.2%
Interest coverage
2386.27▼
2024 · 5140.18
Debt ≤ 1 year
€132,606▲
2024 · €69,633
Income taxes
€95,350▲
2024 · €72,354
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,781 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.7%
stopped otherwise
97%
still going
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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 6,781 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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,314 | €9,848 | €10,001 | €9,782 | €8,831 | ▼ 9.7% |
| Other operating charges640/8 | €699 | €248 | €268 | €283 | €293 | ▲ 3.7% |
| Gross operating margin9900 | €158,131 | €275,354 | €301,305 | €239,044 | €392,906 | ▲ 64.4% |
| Operating profit (loss)9901 | €151,118 | €265,257 | €291,037 | €228,979 | €383,781 | ▲ 67.6% |
| Financial income75/76B | €2,824 | €9,235 | €12,999 | €7,773 | €11,708 | ▲ 50.6% |
| Recurring financial income75 | €2,824 | €9,235 | €12,999 | €7,773 | €11,708 | ▲ 50.6% |
| Financial charges65/66B | €401 | €52 | €44 | €46 | €165 | ▲ 254% |
| Recurring financial charges65 | €401 | €52 | €44 | €46 | €165 | ▲ 254% |
| Profit (loss) for the period before taxes9903 | €153,541 | €274,441 | €303,992 | €236,706 | €395,325 | ▲ 67.0% |
| Income taxes67/77 | €34,362 | €64,294 | €71,976 | €72,354 | €95,350 | ▲ 31.8% |
| Profit (loss) for the period9904 | €119,178 | €210,147 | €232,016 | €164,352 | €299,975 | ▲ 82.5% |
| Profit (loss) for the period to be appropriated9905 | €119,178 | €210,147 | €232,016 | €164,352 | €299,975 | ▲ 82.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €361,055 | €540,002 | €575,915 | €433,641 | €626,589 | ▲ 44.5% |
| Fixed assets21/28 | €42,107 | €39,663 | €29,663 | €19,881 | €9,322 | ▼ 53.1% |
| Tangible fixed assets22/27 | €42,107 | €37,163 | €27,163 | €17,381 | €9,322 | ▼ 46.4% |
| Furniture and vehicles24 | €30,971 | €26,517 | €17,857 | €9,350 | €2,502 | ▼ 73.2% |
| Other tangible fixed assets26 | €10,708 | €10,646 | €9,306 | €8,031 | €6,820 | ▼ 15.1% |
| Assets under construction and advance payments27 | €428 | - | - | - | - | - |
| Financial fixed assets28 | - | €2,500 | €2,500 | €2,500 | - | - |
| Current assets29/58 | €318,947 | €500,338 | €546,253 | €413,760 | €617,267 | ▲ 49.2% |
| Amounts receivable after more than one year29 | €146,500 | €276,500 | €412,825 | €307,353 | - | - |
| Other amounts receivable291 | €146,500 | €276,500 | €412,825 | €307,353 | - | - |
| Amounts receivable within one year40/41 | €18,953 | €3,650 | €31,529 | €60,215 | €19,810 | ▼ 67.1% |
| Trade receivables40 | €18,953 | - | - | €93 | €17,310 | ▲ 18,477% |
| Other amounts receivable41 | - | €3,650 | €31,529 | €60,122 | €2,500 | ▼ 95.8% |
| Current investments50/53 | - | - | - | - | €245,593 | - |
| Cash at bank and in hand54/58 | €153,454 | €220,147 | €101,854 | €46,144 | €351,815 | ▲ 662% |
| Deferred charges and accrued income490/1 | €41 | €41 | €45 | €48 | €49 | ▲ 3.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €361,055 | €540,002 | €575,915 | €433,641 | €626,589 | ▲ 44.5% |
| Equity10/15 | €241,623 | €451,770 | €519,080 | €363,432 | €493,407 | ▲ 35.8% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | - | - | €164,352 | €164,352 | = |
| Distributable reserves133 | - | - | - | €164,352 | €164,352 | = |
| Profit (loss) carried forward14 | €236,623 | €446,770 | €514,080 | €194,080 | €324,054 | ▲ 67.0% |
| Amounts payable17/49 | €119,432 | €88,232 | €56,836 | €70,209 | €133,182 | ▲ 89.7% |
| Amounts payable within one year42/48 | €119,432 | €87,656 | €56,836 | €69,633 | €132,606 | ▲ 90.4% |
| Trade debts44 | €23,583 | €1,064 | €7,798 | €14,511 | €1,060 | ▼ 92.7% |
| Suppliers440/4 | €23,583 | €1,064 | €7,798 | €14,511 | €1,060 | ▼ 92.7% |
| Taxes, remuneration and social security45 | €81,422 | €86,592 | €49,038 | €55,122 | €66,443 | ▲ 20.5% |
| Taxes450/3 | €81,422 | €86,592 | €49,038 | €55,122 | €66,443 | ▲ 20.5% |
| Other amounts payable47/48 | €14,427 | - | - | - | €65,103 | - |
| Accrued charges and deferred income492/3 | - | €576 | - | €576 | €576 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €119,178 | €210,147 | €232,016 | €164,352 | €299,975 | ▲ 82.5% |
| + Depreciation and write-downs630 | €6,314 | €9,848 | €10,001 | €9,782 | €8,831 | ▼ 9.7% |
| Operating cash flow (approximation) | €125,492 | €219,995 | €242,017 | €174,134 | €308,806 | ▲ 77.3% |
| Investment in fixed assets (approximation) | - | -€7,404 | €0 | €0 | €1,728 | - |
| Change in cash | - | €66,693 | -€118,293 | -€55,710 | €305,671 | ▲ 649% |
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
Next filing, fiscal year 2026, expected by
2026
06-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2019net €299,975 ▲82.5%
Operating result €383,781, net result €299,975, both a record.
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €500,000Eq €519,080 ▲14.9%
5 profitable years in a row build equity to €519,080.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 32 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 5.71
Current ratio from 2.67 to 5.71; short-term debt falls from €119,432 to €87,656.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 24 days late
2021
31-12
Financial
Equity above €200,000Eq €241,623 ▲97.3%
3 profitable years in a row build equity to €241,623.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Sint-Pieters-Woluwe · 1 establishment unit since 2019
Ground area
547 m²
Building footprint
113 m²
Volume, LiDAR
622 m³
Parcel 21682C0175/00P004, Brussels · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
NL Advisory
since 20192.291.299.554
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0175/00P004 | Brussels | 546 m² | 1 · 113 m² | 8.2 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.
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 34,784 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
Founded25-06-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0728865126
Also
9925:BE0728865126
Registered
03-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.