Philing
ActiveSummary
Philing has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.8m and a net result of €667,962. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 10% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▲+6
Solvency29=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity ample (current ratio 32.59 against 7.56 in 2024; short-term debt: 0.3% and cash: 4.4% of total assets), but 95.8% of the assets are financed with debt.
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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
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
4.2%
Return on assets
1.6%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 3221 sector peers (2025).
NBB · sector comparisonPosition among 3221 sector peers
Solvency
better than 10%
← weakest
strongest →
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
34 d early
2023
20 d early
2022
6 d early
2021
18 d late
2020
16 d early
2019
28 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 6 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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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
€667,962
2024 · -€939,327
Working capital
€4.4m▼ 69.2%
2024 · €14.4m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€99,768▲ 215%-€33,174-€408,520▼ 1,131%-€2.1m▼ 421%-€1.5m▲ 29.4%
Net result€320,791▲ 82.3%€206,279▼ 35.7%-€162,306-€939,327▼ 479%€667,962
Equity€2.1m▲ 64.5%€2.3m▲ 9.9%€2.1m▼ 7.1%€1.1m▼ 48.2%€1.8m▲ 60.4%
Total assets€15.6m▲ 5.2%€16.7m▲ 6.9%€18.5m▲ 10.9%€30.4m▲ 63.8%€42.4m▲ 39.5%
Debt€13.5m▼ 0.4%€14.4m▲ 6.5%€16.4m▲ 13.8%€29.3m▲ 78.4%€40.6m▲ 38.8%
Working capital€444,955▼ 61.3%€884,372▲ 98.8%€1.4m▲ 55.5%€14.4m▲ 944%€4.4m▼ 69.2%
Staff (FTE)1.8=1.8=1.8=1.9▲ 5.6%1.9=
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.5m in 2025 against €2.1m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €42.4m
Fixed assets
€37.8m ▲ 174%
Current assets
€4.6m ▼ 72.5%
Equity and liabilities €42.4m
Equity
€1.8m ▲ 60.4%
Debt
€40.6m ▲ 38.8%
Debt's share of the balance-sheet total falls from 96.4% to 95.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€1.4m▲
2024 · -€2.0m
Cash flow
€748,156▲
2024 · -€848,909
Current ratio
32.59▲
2024 · 7.56
Debt to equity
22.87▼
2024 · 26.43
ROE
37.6%▲
2024 · -84.9%
ROA
1.6%▲
2024 · -3.1%
Interest coverage
-16.05▲
2024 · -18.20
Debt ≤ 1 year
€139,831▼
2024 · €2.2m
Debt > 1 year
€40.4m▲
2024 · €27.1m
Income taxes
€793
Staff costs
€188,335▼
2024 · €193,311
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €69 | - | - | €393 | - |
| Remuneration, social security and pensions62 | €121,927 | €145,677 | €169,594 | €193,311 | €188,335 | ▼ 2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €90,495 | €94,006 | €86,190 | €90,418 | €80,194 | ▼ 11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €12,428 | - | - |
| Other operating charges640/8 | €13,649 | €13,177 | €17,057 | €327,405 | €69,365 | ▼ 78.8% |
| Non-recurring operating charges66A | - | - | - | €442,991 | - | - |
| Gross operating margin9900 | €325,839 | €219,687 | -€135,678 | -€1.1m | -€1.2m | ▼ 9.7% |
| Operating profit (loss)9901 | €99,768 | -€33,174 | -€408,520 | -€2.1m | -€1.5m | ▲ 29.4% |
| Financial income75/76B | €52,893 | €277,604 | €349,941 | €1.3m | €2.3m | ▲ 73.7% |
| Recurring financial income75 | €52,893 | €138,327 | €348,954 | €505,119 | €404,012 | ▼ 20.0% |
| Non-recurring financial income76B | - | €139,277 | €987 | €795,464 | €1.9m | ▲ 133% |
| Financial charges65/66B | -€168,940 | €38,151 | €103,722 | €111,963 | €88,613 | ▼ 20.9% |
| Recurring financial charges65 | -€456,240 | €38,127 | €52,640 | €111,963 | €88,613 | ▼ 20.9% |
| Non-recurring financial charges66B | €287,300 | €24 | €51,082 | - | - | - |
| Profit (loss) for the period before taxes9903 | €321,601 | €206,279 | -€162,301 | -€939,327 | €668,755 | ▲ 171% |
| Income taxes67/77 | €809 | €0 | €5 | - | €793 | - |
| Profit (loss) for the period9904 | €320,791 | €206,279 | -€162,306 | -€939,327 | €667,962 | ▲ 171% |
| Profit (loss) for the period to be appropriated9905 | €320,791 | €206,279 | -€162,306 | -€939,327 | €667,962 | ▲ 171% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.6m | €16.7m | €18.5m | €30.4m | €42.4m | ▲ 39.5% |
| Formation expenses20 | - | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €14.9m | €15.6m | €16.9m | €13.8m | €37.8m | ▲ 174% |
| Intangible fixed assets21 | €1,776 | €833 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €1.2m | €1.1m | €1.1m | €1.1m | €989,983 | ▼ 8.3% |
| Land and buildings22 | €1.0m | €984,602 | €944,548 | €904,493 | €864,439 | ▼ 4.4% |
| Furniture and vehicles24 | €28,145 | €19,646 | €18,143 | €117,582 | €85,592 | ▼ 27.2% |
| Other tangible fixed assets26 | €153,630 | €116,144 | €91,040 | €57,416 | €39,953 | ▼ 30.4% |
| Financial fixed assets28 | €13.7m | €14.4m | €15.9m | €12.7m | €36.8m | ▲ 189% |
| Current assets29/58 | €749,873 | €1.1m | €1.6m | €16.5m | €4.6m | ▼ 72.5% |
| Amounts receivable after more than one year29 | €161,452 | €203,216 | €272,486 | €13.4m | €622,889 | ▼ 95.4% |
| Trade receivables290 | €27,373 | €27,373 | €27,373 | €14,946 | €14,946 | = |
| Other amounts receivable291 | €134,078 | €175,843 | €245,113 | €13.4m | €607,943 | ▼ 95.5% |
| Amounts receivable within one year40/41 | €309,399 | €158,215 | €155,136 | €656,943 | €108,733 | ▼ 83.4% |
| Trade receivables40 | €306,288 | €142,051 | €56,956 | €548,190 | €29,672 | ▼ 94.6% |
| Other amounts receivable41 | €3,111 | €16,164 | €98,180 | €108,753 | €79,061 | ▼ 27.3% |
| Current investments50/53 | - | €393,217 | €893,025 | €1.4m | €2.0m | ▲ 37.8% |
| Cash at bank and in hand54/58 | €275,218 | €383,161 | €224,221 | €1.1m | €1.9m | ▲ 75.2% |
| Deferred charges and accrued income490/1 | €3,804 | €4,109 | €49,635 | €12,012 | €13,060 | ▲ 8.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.6m | €16.7m | €18.5m | €30.4m | €42.4m | ▲ 39.5% |
| Equity10/15 | €2.1m | €2.3m | €2.1m | €1.1m | €1.8m | ▲ 60.4% |
| Contributions10/11 | €1.5m | €1.5m | €1.5m | €1.4m | €1.4m | = |
| Capital10 | €1.5m | €1.5m | €1.5m | €1.4m | €1.4m | = |
| Issued capital100 | €1.5m | €1.5m | €1.5m | €1.4m | €1.4m | = |
| Revaluation surpluses12 | - | - | - | €0 | - | - |
| Reserves13 | €125,098 | €135,412 | €135,412 | €129,849 | €129,849 | = |
| Non-distributable reserves130/1 | €125,098 | €135,412 | €135,412 | €129,849 | €129,849 | = |
| Legal reserve130 | €125,098 | €135,412 | €135,412 | €129,849 | €129,849 | = |
| Profit (loss) carried forward14 | €471,866 | €667,832 | €505,526 | -€458,657 | €209,306 | ▲ 146% |
| Amounts payable17/49 | €13.5m | €14.4m | €16.4m | €29.3m | €40.6m | ▲ 38.8% |
| Amounts payable after more than one year17 | €13.2m | €14.1m | €16.2m | €27.1m | €40.4m | ▲ 49.2% |
| Financial debts170/4 | €13.2m | €14.1m | €16.2m | €27.1m | €40.4m | ▲ 49.2% |
| Amounts payable within one year42/48 | €304,917 | €257,546 | €219,314 | €2.2m | €139,831 | ▼ 93.6% |
| Current portion of amounts payable after more than one year42 | €61,933 | €55,723 | €58,956 | €62,377 | €65,996 | ▲ 5.8% |
| Trade debts44 | €30,640 | €52,412 | €20,182 | €672,707 | €48,908 | ▼ 92.7% |
| Suppliers440/4 | €30,640 | €52,412 | €20,182 | €672,707 | €48,908 | ▼ 92.7% |
| Taxes, remuneration and social security45 | €14,542 | €17,543 | €20,062 | €20,109 | €20,864 | ▲ 3.8% |
| Taxes450/3 | - | €0 | €79 | €0 | €0 | - |
| Remuneration and social security454/9 | €14,542 | €17,543 | €19,983 | €20,109 | €20,864 | ▲ 3.8% |
| Other amounts payable47/48 | €197,802 | €131,868 | €120,114 | €1.4m | €4,063 | ▼ 99.7% |
| Accrued charges and deferred income492/3 | €1,916 | €3,731 | €25,970 | €11,213 | €86,804 | ▲ 674% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €320,791 | €206,279 | -€162,306 | -€939,327 | €667,962 | ▲ 171% |
| + Depreciation and write-downs630 | €90,495 | €94,006 | €86,190 | €90,418 | €80,194 | ▼ 11.3% |
| Operating cash flow (approximation) | €411,287 | €300,286 | -€76,116 | -€848,909 | €748,156 | ▲ 188% |
| Investment in fixed assets (approximation) | - | -€783,479 | -€1.5m | €3.0m | -€24.1m | ▼ 892% |
| Change in cash | - | €107,943 | -€158,940 | €833,321 | €795,614 | ▼ 4.5% |
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
15-09
State Gazette act
General meeting · Director appointment
Permanent representative
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €667,962
Net result €667,962 after 2 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 32.59
Current ratio from 7.56 to 32.59; short-term debt falls from €2.2m to €139,831.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
19-05
State Gazette act
General meeting · Director resignation
Permanent representative · Director appointment
2024
31-12
Financial
Weakest financial yearnet -€939,327
Net result drops to -€939,327, the lowest in the series; recovery starts the following year.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
07-12
State Gazette act
General meeting · Director resignation
Director discharge · Director reappointment
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 18 days late
2021
31-12
Financial
Equity above €2mEq €2.1m ▲64.5%
3 profitable years in a row build equity to €2.1m.
Show earlier events
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
31-12
Financial
Back to profitnet €1,020
Net result €1,020 after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
2016
14-11
State Gazette act
General meeting · Director resignation
Director reappointment · Permanent representative
14-11
State Gazette act
General meeting · Legal-form conversion
Capital · Corporate purpose
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 19 acts read
About the unread acts
We know of 19 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
19 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, Lasne · 1 establishment unit since 2012
Ground area
5,379 m²
Building footprint
503 m²
Volume, LiDAR
767 m³
2 parcels, Wallonia · tallest building 12.8 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
PHILING
since 20122.207.707.429
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25076F0006/00S005 | Wallonia | 3,200 m² | 1 · 156 m² | 12.8 m · 2 fl. |
| 25076F0005/00N002 | Wallonia | 2,179 m² | 1 · 347 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
23 holdings · 17 subsidiaries in the treeOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 23
-
100%
-
100%
-
99.7%
-
99.7%
-
99.7%
-
99.7%
-
99.7%
-
99.7%
-
99.7%
-
99.7%
Show 13 more holdings
-
99.7%
-
99.7%
-
99.6%
-
99%
- CORNALINE HOUSE HOLDINGsubsidiarySourceown accounts 202586.67%
- Altoria FundLUsubsidiarySourceown accounts 202571.51%
-
33.17%
-
30.02%
-
29.69%
-
25%
-
17.5%
-
11.43%
-
10%
All subsidiaries, including indirect ones 17
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- Phifin 100%
- SAS AD HOC85FR 100%
- SCI Au Coeur du PortFR 99.7%
- SCI Baie de la PipeFR 99.7%
- SCI Colbert De BlainvilleFR 99.7%
- SCI De La RépubliqueFR 99.7%
- SCI De La TouretteFR 99.7%
- SCI Des Gâts PromptsFR 99.7%
- SCI Du Marais de la GuercheFR 99.7%
- SCI du Quai VernierFR 99.7%
- SCI L'Ouche de l'EgliseFR 99.7%
- SCI La MissionnaireFR 99.7%
- Domaine des Fouquettes SCEAFR 99.6%
- Oceani Villages sasFR 99%
CORNALINE HOUSE HOLDING 86.67%1 subsidiary
- CORNALINE HOUSE 100%
- Altoria FundLU 71.51%
According to the 2025 annual accounts of Philing and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Linked via shared directors
VOCATIO
Shared director
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Ownership & control
2 board mandatesRecognitions · licences · registrations
Legal Entity Identifier
967600X21Z8GGJETWH85
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Identification & contact
Identification
Legal formPublic limited company
Founded08-02-2012
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0843588214
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.