NVHR
ActiveNVHR has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €387k and a net result of €-23k. Equity is growing by ~22.7% per year across the filed fiscal years. Its solvency ranks better than 35% of 3134 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-37
Solvency44▼-13
Growth78=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days only on tighter terms
Liquidity short (current ratio 0.12 against 0.78 in 2024), and 65.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 2025Solvency, return and age of the figures
Solvency
34.8%
Return on assets
-2.1%
Age of the figures
17 mo
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 20-11-2025, 20 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
20 d late
2024
53 d late
2023
1 d early
2022
133 d early
2021
3 d early
2020
24 d early
2019
365 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close08-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-23k
2024 · €31k
2019: €-39k
2020: €20k
2021: €30k
2022: €125k
2023: €84k
2024: €31k
2019 → 2025
Working capital
€-260k▼ 344%
2024 · €-59k
2019: €-92k
2020: €-71k
2021: €-57k
2022: €51k
2023: €7k
2024: €-59k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€171k-€296k▲ 73.3%€380k▲ 28.2%€411k▲ 8.0%€387k▼ 5.7%
Operating result€38k-€170k▲ 345%€124k▼ 27.2%€56k▼ 54.5%€-8k
Net result€30k-€125k▲ 314%€84k▼ 33.2%€31k▼ 63.5%€-23k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €8k after €56k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.11M
Fixed assets
€1.08M▲ 33.6%
Current assets
€34k▼ 83.0%
Equity and liabilities €1.11M
Equity
€387k▼ 5.7%
Debt
€724k▲ 21.0%
The debt ratio rises from 59.3% to 65.2%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€24k▼
2024 · €88k
Cash flow
€9k▼
2024 · €62k
Solvency
34.8%▼
2024 · 40.7%
Current ratio
0.12▼
2024 · 0.78
Quick ratio
0.12▼
2024 · 0.78
Debt / equity
1.87▲
2024 · 1.46
ROE
-6.0%▼
2024 · 7.4%
ROA
-2.1%▼
2024 · 3.0%
Interest coverage
1.60▼
2024 · 4.37
Debt
€724k▲
2024 · €599k
Debt ≤ 1 year
€295k▲
2024 · €261k
Debt > 1 year
€430k▲
2024 · €337k
Income taxes
€0▼
2024 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.01M€1.11M▲
Fixed assets21/28€807k€1.08M▲
Tangible fixed assets22/27€353k€627k▲
Land and buildings22€314k€592k▲
Furniture and vehicles24€15k€15k▲
Other tangible fixed assets26€24k€20k▼
Financial fixed assets28€454k€450k▼
Current assets29/58€203k€34k▼
Amounts receivable within one year40/41€160k€32k▼
Trade receivables40€13k€32k▲
Other amounts receivable41€148k€0▼
Cash at bank and in hand54/58€42k€3k▼
Equity and liabilities
Total equity and liabilities10/49€1.01M€1.11M▲
Equity10/15€411k€387k▼
Contributions10/11€19k€19k=
Reserves13€127€127=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€127€127=
Profit (loss) carried forward14€392k€369k▼
Amounts payable17/49€599k€724k▲
Amounts payable after more than one year17€337k€430k▲
Financial debts170/4€337k€430k▲
Amounts payable within one year42/48€261k€295k▲
Current portion of amounts payable after more than one year42€119k€153k▲
Financial debts43€245€0▼
Credit institutions430/8€245€0▼
Trade debts44€46k€106k▲
Suppliers440/4€46k€106k▲
Taxes, remuneration and social security45€45k€34k▼
Taxes450/3€45k€34k▼
Other amounts payable47/48€51k€2k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€33k▲
Other operating charges640/8€2k€42k▲
Gross operating margin9900€90k€67k▼
Operating profit (loss)9901€56k€-8k▼
Financial income75/76B€6k€149▼
Recurring financial income75€6k€149▼
Financial charges65/66B€20k€15k▼
Recurring financial charges65€20k€15k▼
Profit (loss) for the period before taxes9903€42k€-23k▼
Income taxes67/77€11k€0▼
Profit (loss) for the period9904€31k€-23k▼
Profit (loss) for the period to be appropriated9905€31k€-23k▼
Appropriation of the result
Profit (loss) to be appropriated9906€392k€369k▼
Profit (loss) brought forward from the previous period14P€361k€392k▲
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
20-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 20 days late
2024
23-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 53 days late
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Highest result since 2019net €125k ▲314%
Operating result €170k, net result €125k, both a record.
31-03
Financial
Liquidity triplescurrent ratio 1.61
Current ratio from 0.54 to 1.61; short-term debt falls from €122k to €83k.
31-03
Financial
Equity above €200kEq €296k ▲73.3%
3 profitable years in a row build equity to €296k.
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Equity above €150kEq €171k ▲21.5%
2 profitable years in a row build equity to €171k.
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 365 days late
07-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Back to profitnet €20k
Net result €20k after one loss-making year.
2018
22-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 22 days late
2017
15-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
13-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
6 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, Etterbeek · 1 establishment unit since 2002
Ground area
325 m²
Building footprint
129 m²
Volume, LiDAR
1,912 m³
Parcel 21005A0542/00B006, Brussels · tallest building 17.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Competition Economists Group Europe
since 20022.094.640.665
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21005A0542/00B006 | Brussels | 325 m² | 1 · 129 m² | 17.0 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
AM MANAGEMENT CONSULTING
BE 0715.690.843
Ternat · Eq €387k
MDV Horizons
BE 0687.714.063
Boechout · Eq €387k
IMPLEMENTIS
BE 0899.247.507
Antwerpen · Eq €387k
INTELLIGENSIS
BE 0476.405.996
Mechelen · Eq €388k
HUYZEN SERVICES
BE 0649.900.295
Sint-Niklaas · Eq €387k
Of 82,127 companies in sector 70200 we hold annual accounts for 52,337. 36,472 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded21-06-2001
Fiscal year end31-03
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 06-09-2026. Scores and ratios are computed by Checked and are not a credit decision.