PHEROUSA
ActiveSummary
The annual accounts of PHEROUSA for financial year 2025 show a net loss of 232% of total assets and of 94% of the equity at the start of that year. The 2025 annual accounts show equity of €587 and a net result of -€9,332. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 17% of 21,149 sector peers (NACE 62, financial year 2025). The company has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 01-03-2020 Normal situation
- Activity
- Computer consultancy and computer facilities management NACE 62200and 2 others
- Establishment units
- 2.300.531.578 1030 Schaarbeek, since 04-03-2020
- 2.349.671.184 1030 Schaarbeek, since 01-10-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 16-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- -€7,302
- Loss
- €9,332
- ▲ 12×
- Equity
- €587
- ▼ 94.1%
- Total assets
- €4,017
- ▼ 70.1%
- 2025 accounts filed 11 days after the deadline
Score breakdownraises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €9,332, the second in a row (financial year 2025)lowers riskSector: Computer programming, consultancy and related activities (NACE 62)Size: total assets €4,017Liquidity: current ratio 0.85, cash €778, halvedShow the evidence
Checked score
About 2 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 62, micro). It does better than 19% of them on solvency, 10% on liquidity, 5% on profitability and 5% on growth.
The bankruptcy probability was computed on 02-11-2026 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 103 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 11 days after the deadline Filed on 11 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00392477.
Annual accounts 2025 filed on 11-08-2026 at the NBB all 6 filings
Every figure per financial year
The operating result for 2025 is a loss of €9,125, after a profit of €2,181 in 2024. It is the lowest result since 2021.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,688 | €3,021 | €30,072 | €3,885 | - |
| Depreciation and write-downs of the year | €738 | €721 | €4,501 | €6,712 | €1,824 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €3,861 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €738 | €721 | €4,501 | €6,712 | €1,824 | ▼ 72.8% |
| Other operating charges640/8 | - | - | €50 | €1,018 | €3,971 | - | - |
| Gross operating margin9900 | -€7,083 | €4,382 | €21,254 | €6,036 | €12,863 | -€7,302 | - |
| Operating profit (loss)9901 | -€7,083 | €3,644 | €16,622 | €517 | €2,181 | -€9,125 | - |
| Recurring financial income75 | €0 | - | - | - | - | - | - |
| Financial charges65/66B | - | €286 | €481 | €1,156 | €2,337 | €207 | ▼ 91.1% |
| Recurring financial charges65 | €86 | €286 | €481 | €1,156 | €2,337 | €207 | ▼ 91.1% |
| Profit (loss) for the period before taxes9903 | -€7,168 | €3,358 | €16,141 | -€640 | -€156 | -€9,332 | ▼ 5,880% |
| Income taxes67/77 | - | - | €3,000 | - | €616 | - | - |
| Profit (loss) for the period9904 | -€7,168 | €3,358 | €13,141 | -€640 | -€772 | -€9,332 | ▼ 1,109% |
| Profit (loss) for the period to be appropriated9905 | -€7,168 | €3,358 | €13,141 | -€640 | -€772 | -€9,332 | ▼ 1,109% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €3,889 | €7,508 | €22,485 | €44,646 | €13,433 | €4,017 | ▼ 70.1% |
| Fixed assets21/28 | - | €2,950 | €5,250 | €30,821 | €2,934 | €1,110 | ▼ 62.2% |
| Tangible fixed assets22/27 | - | €2,950 | €5,250 | €30,821 | €2,934 | €1,110 | ▼ 62.2% |
| Furniture and vehicles24 | - | - | €2,668 | €28,977 | €1,828 | €742 | ▼ 59.4% |
| Other tangible fixed assets26 | - | €2,950 | €2,582 | €1,844 | €1,107 | €369 | ▼ 66.7% |
| Current assets29/58 | €3,889 | €4,558 | €17,235 | €13,825 | €10,499 | €2,906 | ▼ 72.3% |
| Amounts receivable within one year40/41 | - | €117 | €5,447 | €10,315 | €4,772 | €2,128 | ▼ 55.4% |
| Trade receivables40 | - | - | €5,447 | €10,315 | €2,462 | €1,804 | ▼ 26.7% |
| Other amounts receivable41 | - | €117 | - | - | €2,310 | €324 | ▼ 86.0% |
| Cash at bank and in hand54/58 | €3,889 | €4,384 | €11,731 | €3,453 | €4,451 | €778 | ▼ 82.5% |
| Deferred charges and accrued income490/1 | - | €57 | €57 | €57 | €1,276 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €3,889 | €7,508 | €22,485 | €44,646 | €13,433 | €4,017 | ▼ 70.1% |
| Equity10/15 | -€5,168 | -€1,810 | €11,331 | €10,691 | €9,919 | €587 | ▼ 94.1% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | -€7,168 | -€3,810 | €9,331 | €8,691 | €7,919 | -€1,413 | - |
| Amounts payable17/49 | €9,057 | €9,318 | €11,154 | €33,955 | €3,514 | €3,430 | ▼ 2.4% |
| Amounts payable after more than one year17 | €1,100 | €1,933 | €1,933 | €20,361 | - | - | - |
| Financial debts170/4 | - | €1,933 | €1,933 | €20,361 | - | - | - |
| Amounts payable within one year42/48 | €7,957 | €7,385 | €9,221 | €13,122 | €3,514 | €3,430 | ▼ 2.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,292 | - | - | - |
| Trade debts44 | €3,734 | €4,785 | €4,336 | €224 | €31 | €374 | ▲ 12× |
| Suppliers440/4 | - | €4,785 | €4,336 | €224 | €31 | €374 | ▲ 12× |
| Taxes, remuneration and social security45 | - | €2,600 | €4,885 | €2,615 | €357 | - | - |
| Taxes450/3 | - | - | €4,847 | €2,615 | €357 | - | - |
| Remuneration and social security454/9 | - | €2,600 | €38 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €3,992 | €3,127 | €3,056 | ▼ 2.3% |
| Accrued charges and deferred income492/3 | - | - | - | €472 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,168 | €3,358 | €13,141 | -€640 | -€772 | -€9,332 | ▼ 1,109% |
| + Depreciation and write-downs630 | - | €738 | €721 | €4,501 | €6,712 | €1,824 | ▼ 72.8% |
| Operating cash flow (approximation) | -€7,168 | €4,096 | €13,862 | €3,861 | €5,940 | -€7,509 | - |
| Investment in fixed assets (approximation) | - | - | -€3,021 | -€30,072 | €21,175 | €0 | ▼ 100% |
| Change in cash | - | €495 | €7,347 | -€8,278 | €998 | -€3,673 | - |
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, 1,133 companies had the same profile as PHEROUSA has now. Two years later, 86.4% were still going and 6.4% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
Another 0.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PHEROUSA itself is lower: 0.2% within 12 months. It rests on far more data about PHEROUSA than the profile alone.
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 1,133 companies, not a prediction for PHEROUSA. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-08-2026 | 2026-00392477 | |
| 31-12-2024 | full format | 03-07-2025 | 2025-00223553 | |
| 31-12-2023 | full format | 27-08-2024 | 2024-00374379 | |
| 31-12-2022 | micro format | 31-10-2023 | 2023-00499566 | |
| 31-12-2021 | micro format | 29-11-2023 | 2023-00519307 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-65100587 |
Board & ownership
Directors
Owners and capital
Shareholders
- INCIK Meltem 100 shares
- KURSUN Hamza to INCIK Meltem 50 shares
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| KURSUN Hamza |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “50% - 50%”
Articles of association, deed of 02-03-2026 (in French)
Network & group
PHEROUSA shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of PHEROUSA. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
02-03
Gazette deed
Appointment: Hamza KURSUN (director)Power of attorney13 points ▸
- General meeting, 28-11-2025
- Director appointment, Hamza KURSUN (director)
- Board composition, Meltem INCIK KURSUN (director)
- Board composition, Hamza KURSUN (director)
- Power of attorney
- Power of attorney, Kelly Verpoorten
- Power of attorney, Sara Heemskerk
- Power of attorney, Sandy Van de Leur
- Power of attorney, Kristel Van Gysel
- Power of attorney, Héloïse Debrandt
- Power of attorney, Viktorija Coric
- Power of attorney, Sara Szurgot
- The act holds 1 more point.
30-01
Gazette deed
Transfer of 50 sharesResignation: KURSUN Hamza (director) · Director discharge · Shareholding5 points ▸
- General meeting, 31-12-2022
- Director resignation, KURSUN Hamza (director)
- Director discharge, KURSUN Hamza
- Share transfer, KURSUN Hamza → INCIK Meltem
- INCIK Meltem holds 100 shares
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
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21910E0099/02H005 | Brussels | 126 m² | 1 · 107 m² | 15.1 m · 4 |