PHILSA
ActiveSummary
PHILSA has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62,217 and a net result of €28,068. Equity is growing by ~65.9% per year across the filed fiscal years. Its solvency ranks better than 29% of 3507 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▼-10
Solvency48▼-21
Growth78=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.79 in 2024; short-term debt: 20.2% and cash: 8.8% of total assets), and 77% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% 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
23%
Return on assets
10.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 3 filingsDeviation from the deadline
2025
28 d late
2024
14 d late
2023
58 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 33 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€62,217▲ 82.2%
2024 · €34,149
Total assets
€270,432▲ 249%
2024 · €77,499
Net result
€28,068▲ 65.8%
2024 · €16,927
Working capital
€18,627▼ 45.5%
2024 · €34,149
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result-€322-€23,619€41,401▲ 75.3%
Net result-€778within the sector's middle half-€16,927within the sector's middle half€28,068within the sector's middle half▲ 65.8%
Equity€17,222within the sector's middle half-€34,149within the sector's middle half▲ 98.3%€62,217within the sector's middle half▲ 82.2%
Total assets€28,047below the sector's middle half-€77,499within the sector's middle half▲ 176%€270,432above the sector's middle half▲ 249%
Debt€10,825-€43,350▲ 300%€208,215▲ 380%
Working capital€17,222within the sector's middle half-€34,149within the sector's middle half▲ 98.3%€18,627within the sector's middle half▼ 45.5%
Solvency61.4%within the sector's middle half-44.1%within the sector's middle half▼ 17.3pp23.0%within the sector's middle half▼ 21.1pp
Current ratio2.59within the sector's middle half-1.79within the sector's middle half▼ 0.801.34within the sector's middle half▼ 0.45
Return on assets (ROA)-2.8%below the sector's middle half-21.8%within the sector's middle half▲ 24.6pp10.4%within the sector's middle half▼ 11.5pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical 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 risen two years in a row; 2025 is 75% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €270,432
Fixed assets
€197,096
Current assets
€73,337
Equity and liabilities €270,432
Equity
€62,217 ▲ 82.2%
Debt
€208,215 ▲ 380%
Debt's share of the balance-sheet total rises from 55.9% to 77.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€43,902
Cash flow
€30,569
Debt to equity
3.35▲
2024 · 1.27
ROE
45.1%▼
2024 · 49.6%
Interest coverage
16.72
Debt ≤ 1 year
€54,709▲
2024 · €43,350
Debt > 1 year
€151,946
Income taxes
€10,708▲
2024 · €6,436
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 7,976 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €2,501 | - |
| Other operating charges640/8 | - | €858 | €197 | ▼ 77.0% |
| Gross operating margin9900 | -€322 | €24,477 | €44,100 | ▲ 80.2% |
| Operating profit (loss)9901 | -€322 | €23,619 | €41,401 | ▲ 75.3% |
| Financial charges65/66B | €106 | €255 | €2,625 | ▲ 928% |
| Recurring financial charges65 | €106 | €255 | €2,625 | ▲ 928% |
| Profit (loss) for the period before taxes9903 | -€429 | €23,363 | €38,776 | ▲ 66.0% |
| Income taxes67/77 | €349 | €6,436 | €10,708 | ▲ 66.4% |
| Profit (loss) for the period9904 | -€778 | €16,927 | €28,068 | ▲ 65.8% |
| Profit (loss) for the period to be appropriated9905 | -€778 | €16,927 | €28,068 | ▲ 65.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €28,047 | €77,499 | €270,432 | ▲ 249% |
| Fixed assets21/28 | - | - | €197,096 | - |
| Tangible fixed assets22/27 | - | - | €197,096 | - |
| Land and buildings22 | - | - | €189,005 | - |
| Furniture and vehicles24 | - | - | €8,091 | - |
| Current assets29/58 | €28,047 | €77,499 | €73,337 | ▼ 5.4% |
| Amounts receivable within one year40/41 | €9,777 | €28,013 | €43,562 | ▲ 55.5% |
| Trade receivables40 | €9,777 | €28,013 | €43,562 | ▲ 55.5% |
| Cash at bank and in hand54/58 | €18,270 | €49,486 | €23,802 | ▼ 51.9% |
| Deferred charges and accrued income490/1 | - | - | €5,972 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €28,047 | €77,499 | €270,432 | ▲ 249% |
| Equity10/15 | €17,222 | €34,149 | €62,217 | ▲ 82.2% |
| Contributions10/11 | €18,000 | €18,000 | €18,000 | = |
| Reserves13 | - | €16,927 | €44,217 | ▲ 161% |
| Distributable reserves133 | - | €16,927 | €44,217 | ▲ 161% |
| Profit (loss) carried forward14 | -€778 | -€778 | €0 | ▲ 100% |
| Amounts payable17/49 | €10,825 | €43,350 | €208,215 | ▲ 380% |
| Amounts payable after more than one year17 | - | - | €151,946 | - |
| Financial debts170/4 | - | - | €151,946 | - |
| Amounts payable within one year42/48 | €10,825 | €43,350 | €54,709 | ▲ 26.2% |
| Current portion of amounts payable after more than one year42 | - | - | €14,508 | - |
| Trade debts44 | €3,404 | €25,552 | €13,548 | ▼ 47.0% |
| Suppliers440/4 | €3,404 | €25,552 | €13,548 | ▼ 47.0% |
| Taxes, remuneration and social security45 | €7,421 | €17,798 | €22,947 | ▲ 28.9% |
| Taxes450/3 | €7,421 | €17,798 | €20,868 | ▲ 17.3% |
| Remuneration and social security454/9 | - | - | €2,079 | - |
| Other amounts payable47/48 | - | - | €3,706 | - |
| Accrued charges and deferred income492/3 | - | - | €1,560 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€778 | €16,927 | €28,068 | ▲ 65.8% |
| + Depreciation and write-downs630 | - | - | €2,501 | - |
| Operating cash flow (approximation) | -€778 | €16,927 | €30,569 | ▲ 80.6% |
| Change in cash | - | €31,216 | -€25,683 | ▼ 182% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2023net €28,068 ▲65.8%
Operating result €41,401, net result €28,068, both a record.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
31-12
Financial
Back to profitnet €16,927
Net result €16,927 after one loss-making year.
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
Financial milestoneNBB 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, Brasschaat · 1 establishment unit since 2022
Ground area
1,214 m²
Building footprint
215 m²
Volume, LiDAR
847 m³
Parcel 11323F0086/00P007, Flanders · tallest building 9.0 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PHILSA
since 20222.338.700.781
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11323F0086/00P007 | Flanders | 1,214 m² | 1 · 215 m² | 9.0 m · 1 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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BELIS CONSULTING
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FLG GROUP
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Of 4,561 companies in sector 74999 we hold annual accounts for 1,936. 1,558 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
Founded24-11-2022
Fiscal year end31-12
Activities, NACEBEL 2025
74999Other professional, scientific and technical activities
68201Renting and operating of own or leased residential real estate, excluding social housing
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0793932132
Also
9925:BE0793932132
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.