ON TRACK
ActiveSummary
ON TRACK has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144,359 and a net result of -€4,913. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 42% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▼-2
Solvency71▼-29
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 1.5 against 5.33 in 2024; short-term debt: 53.7% and cash: 41.7% of total assets), but 53.7% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers 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 →
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
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 26-07-2026, 5 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
5 d early
2024
20 d early
2023
14 d early
2022
21 d late
2021
12 d late
2020
18 d late
2019
43 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 8 days after 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 26 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€144,359▼ 3.3%
2024 · €149,272
Total assets
€311,630▲ 82.9%
2024 · €170,353
Net result
-€4,913
2024 · €53
Working capital
€84,026▼ 7.9%
2024 · €91,241
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-€19,898-€31,090▼ 56.2%€65,237€9,623▼ 85.2%€2,853▼ 70.4%
Net result-€23,743below the sector's middle half-€36,550below the sector's middle half▼ 53.9%€44,686within the sector's middle half€53below the sector's middle half▼ 99.9%-€4,913below the sector's middle half
Equity€141,083within the sector's middle half▼ 14.4%€104,533within the sector's middle half▼ 25.9%€149,219within the sector's middle half▲ 42.7%€149,272within the sector's middle half=€144,359within the sector's middle half▼ 3.3%
Total assets€191,791within the sector's middle half▼ 12.4%€143,192within the sector's middle half▼ 25.3%€166,119within the sector's middle half▲ 16.0%€170,353within the sector's middle half▲ 2.5%€311,630within the sector's middle half▲ 82.9%
Debt€50,708▼ 6.3%€38,659▼ 23.8%€16,900▼ 56.3%€21,081▲ 24.7%€167,271▲ 693%
Working capital€132,429within the sector's middle half▼ 17.6%€94,497within the sector's middle half▼ 28.6%€115,674within the sector's middle half▲ 22.4%€91,241within the sector's middle half▼ 21.1%€84,026within the sector's middle half▼ 7.9%
Solvency73.6%within the sector's middle half▼ 1.7pp73.0%within the sector's middle half▼ 0.6pp89.8%above the sector's middle half▲ 16.8pp87.6%above the sector's middle half▼ 2.2pp46.3%within the sector's middle half▼ 41.3pp
Current ratio7.21above the sector's middle half▼ 18.884.40within the sector's middle half▼ 2.817.84above the sector's middle half▲ 3.445.33above the sector's middle half▼ 2.521.50within the sector's middle half▼ 3.83
Return on assets (ROA)-12.4%below the sector's middle half▼ 37.9pp-25.5%below the sector's middle half▼ 13.1pp26.9%within the sector's middle half▲ 52.4pp0.0%below the sector's middle half▼ 26.9pp-1.6%below the sector's middle half▼ 1.6pp
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 has fallen two years in a row; 2025 is 70% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €311,630
Fixed assets
€60,333 ▲ 4.0%
Current assets
€251,297 ▲ 124%
Equity and liabilities €311,630
Equity
€144,359 ▼ 3.3%
Debt
€167,271 ▲ 693%
Debt's share of the balance-sheet total rises from 12.4% to 53.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€31,060▲
2024 · €24,835
Cash flow
€23,294▲
2024 · €15,265
Debt to equity
1.16▲
2024 · 0.14
ROE
-3.4%▼
2024 · 0.0%
Interest coverage
22.17▲
2024 · 12.06
Debt ≤ 1 year
€167,271▲
2024 · €21,081
Income taxes
€6,365▼
2024 · €7,511
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 12,321 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 | €19,997 | €21,445 | €8,859 | €15,212 | €28,207 | ▲ 85.4% |
| Other operating charges640/8 | €2,843 | €5,241 | €2,632 | €1,428 | €2,621 | ▲ 83.5% |
| Gross operating margin9900 | €2,942 | -€4,404 | €76,728 | €26,263 | €33,681 | ▲ 28.2% |
| Operating profit (loss)9901 | -€19,898 | -€31,090 | €65,237 | €9,623 | €2,853 | ▼ 70.4% |
| Financial charges65/66B | €690 | €1,666 | €1,819 | €2,059 | €1,401 | ▼ 32.0% |
| Recurring financial charges65 | €690 | €1,666 | €1,819 | €2,059 | €1,401 | ▼ 32.0% |
| Profit (loss) for the period before taxes9903 | -€20,588 | -€32,756 | €63,418 | €7,564 | €1,452 | ▼ 80.8% |
| Income taxes67/77 | €3,155 | €3,794 | €18,732 | €7,511 | €6,365 | ▼ 15.3% |
| Profit (loss) for the period9904 | -€23,743 | -€36,550 | €44,686 | €53 | -€4,913 | ▼ 9,370% |
| Profit (loss) for the period to be appropriated9905 | -€23,743 | -€36,550 | €44,686 | €53 | -€4,913 | ▼ 9,370% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €191,791 | €143,192 | €166,119 | €170,353 | €311,630 | ▲ 82.9% |
| Fixed assets21/28 | €38,038 | €20,916 | €33,545 | €58,031 | €60,333 | ▲ 4.0% |
| Tangible fixed assets22/27 | €24,788 | €7,666 | €20,295 | €44,781 | €47,083 | ▲ 5.1% |
| Plant, machinery and equipment23 | €6,451 | €7,666 | €20,295 | €44,781 | €47,083 | ▲ 5.1% |
| Furniture and vehicles24 | €18,337 | - | - | - | - | - |
| Financial fixed assets28 | €13,250 | €13,250 | €13,250 | €13,250 | €13,250 | = |
| Current assets29/58 | €153,753 | €122,276 | €132,574 | €112,322 | €251,297 | ▲ 124% |
| Amounts receivable after more than one year29 | €92,884 | €92,884 | €92,884 | €92,884 | €77,884 | ▼ 16.1% |
| Other amounts receivable291 | €92,884 | €92,884 | €92,884 | €92,884 | €77,884 | ▼ 16.1% |
| Amounts receivable within one year40/41 | €30,642 | €4,089 | €1,579 | - | €43,424 | - |
| Trade receivables40 | €30,492 | - | - | - | €39,311 | - |
| Other amounts receivable41 | €150 | €4,089 | €1,579 | - | €4,113 | - |
| Cash at bank and in hand54/58 | €17,341 | €25,303 | €38,111 | €19,438 | €129,989 | ▲ 569% |
| Deferred charges and accrued income490/1 | €12,885 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €191,791 | €143,192 | €166,119 | €170,353 | €311,630 | ▲ 82.9% |
| Equity10/15 | €141,083 | €104,533 | €149,219 | €149,272 | €144,359 | ▼ 3.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | €12,400 | €12,400 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €133,023 | €96,473 | €141,159 | €141,212 | €136,299 | ▼ 3.5% |
| Amounts payable17/49 | €50,708 | €38,659 | €16,900 | €21,081 | €167,271 | ▲ 693% |
| Amounts payable after more than one year17 | €29,385 | €10,880 | €0 | - | - | - |
| Financial debts170/4 | €29,385 | €10,880 | €0 | - | - | - |
| Amounts payable within one year42/48 | €21,323 | €27,779 | €16,900 | €21,081 | €167,271 | ▲ 693% |
| Trade debts44 | €12,243 | €24,103 | €9,215 | €621 | €8,217 | ▲ 1,223% |
| Suppliers440/4 | €12,243 | €24,103 | €9,215 | €621 | €8,217 | ▲ 1,223% |
| Advances received on contracts in progress46 | - | - | - | - | €155,569 | - |
| Taxes, remuneration and social security45 | €9,080 | €3,677 | €4,706 | €6,243 | €3,485 | ▼ 44.2% |
| Taxes450/3 | €9,080 | €3,677 | €2,706 | €6,243 | €3,485 | ▼ 44.2% |
| Remuneration and social security454/9 | - | - | €2,000 | - | - | - |
| Other amounts payable47/48 | - | - | €2,979 | €14,217 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€23,743 | -€36,550 | €44,686 | €53 | -€4,913 | ▼ 9,370% |
| + Depreciation and write-downs630 | €19,997 | €21,445 | €8,859 | €15,212 | €28,207 | ▲ 85.4% |
| Operating cash flow (approximation) | -€3,746 | -€15,105 | €53,545 | €15,265 | €23,294 | ▲ 52.6% |
| Investment in fixed assets (approximation) | - | -€4,323 | -€21,488 | -€39,698 | -€30,509 | ▲ 23.1% |
| Change in cash | - | €7,961 | €12,808 | -€18,673 | €110,551 | ▲ 692% |
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
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
20-07
State Gazette act
General meeting · Director reappointment
Permanent representative · Auditor reappointment
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €44,686
Net result €44,686 after 2 loss-making years.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
25-01
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment · Frank Liesse
2022
31-12
Financial
Weakest financial yearnet -€36,550
Net result drops to -€36,550, the lowest in the series; recovery starts the following year.
14-09
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
12-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 12 days late
02-06
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
31-03
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
Show earlier events
14-02
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
14-02
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
14-02
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
14-02
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
2021
18-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
2020
31-12
Financial
Back to profitnet €55,983
Net result €55,983 after one loss-making year.
31-12
Financial
Liquidity times 7current ratio 26.09
Current ratio from 3.50 to 26.09; short-term debt falls from €41,432 to €6,405.
31-12
Financial
Equity above €150,000Eq €164,826 ▲51.4%
Equity rises from €108,843 to €164,826.
12-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 43 days late
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2018
30-08
State Gazette act
General meeting · Director resignation
Permanent representative · Director appointment
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
21-12
State Gazette act
General meeting · Legal-form conversion
Statutes amendment · Capital
2011
17-06
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Gent · 1 establishment unit since 2008
Ground area
1,030 m²
Building footprint
162 m²
Volume, LiDAR
935 m³
Parcel 44017A1201/00G000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ON TRACK
since 20082.182.115.463
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017A1201/00G000 | Flanders | 1,030 m² | 1 · 162 m² | 8.0 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
1 connected companyThe connected companies are in the list below.
This company
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Shareholding
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Ownership & control
5 board mandatesBoard mandates of this companythis company sits on their board5
1 location
1 location
1 location
1 location
1 location
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 40,888 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
Founded28-08-2003
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
46190Agents in non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0860267165
Registered
29-01-2026
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.