Equity
-€3.5m
Debts exceed assets in financial year 2025.
Phished
Lifetime
6 annual accounts with figures on one time axispeak €2.8m (2025)
€2.8m▲ 259%
lowest -€3.2m (2025)
-€3.2m▼ €70,985
peak €500,732 (2020)
-€3.5m▼ €3.2m
€11.7m▲ 17.6%
peak 44.6 FTE (2025)
44.6 FTE▲ 28.5%
Board7 names since 2019
3 directorsJohan Vandebergh and 2 others
Owners
Documentsfilings and deeds
08-07-202623 days before the deadline
2025abbreviated format
Gross margin from €791,828 to €2.8mLoss of €3.2mStaff from 34.7 FTE to 44.6 FTECapital contribution of €5,250,000 10-01Equity from -€331,436 to -€3.5mDebts from €10.0m to €11.7m
Key points
from the 2025 annual accountsLosses
-€12.4m in five years
Every financial year from 2021 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€11.7m 142% of the balance sheet
Financial debts 73%Suppliers 15%Taxes and wages 5%Other 7%
Of this, €2.4m falls due within a year.
Investments
€1.9m 2.2 × depreciation
Green is investment, beige is depreciation.
Staff
46 employees on 31-12-2025
In 2025, 232 people joined and 227 left.
Position in the sector
-€3.2m
Lower net result than 95% of companies in computer programming and consultancy. Sector median €22,956 · 3,406 companies.
Checked score
53
Fair
Financially stronger than 14% of small companies in computer programming and consultancy (NACE 62)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 1,167 companies (NACE 62, small).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.4%
01-2025: 1.4%● unchanged vs 12-2024
02-2025: 1.4%● unchanged vs 01-2025
03-2025: 1.6%▲ +0.2 percentage points vs 02-2025
04-2025: 1.6%● unchanged vs 03-2025
05-2025: 1.6%● unchanged vs 04-2025highest value
06-2025: 0.4%▼ -1.2 percentage points vs 05-2025lowest value
07-2025: 0.4%● unchanged vs 06-2025lowest value
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.5%▲ +0.1 percentage points vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.6%▲ +0.1 percentage points vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.7%▲ +0.1 percentage points vs 06-2026
08-2026: 1.2%▲ +0.5 percentage points vs 07-2026
09-2026: 1.3%▲ +0.1 percentage points vs 08-2026
10-2026: 1.3%● unchanged vs 09-2026
11-2026: 1.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€3.5m
Loss of €3.2m, the second in a row (financial year 2025)
lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Founded in 2019
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, small). It does better than 2% of them on solvency, 50% on liquidity, 4% on profitability and 0% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 562 companies had the same profile as Phished has now. Each dot stands for 2 companies, two years later.
86.7%
were still trading
4.8%
stopped another way
7.1%
went bankrupt
Another 1.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Phished itself is lower: 1.3% within 12 months. It rests on far more data about Phished than the profile alone.
Test of the method
The method was tested on the 497,447 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 562 companies, not a prediction for Phished. 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.
Credit verdict
No credit on open account
Liquidity is ample, with a current ratio of 1.82 (3.46 in 2024), above the usual 1.5. Short-term debt is 28.7% and cash 7.5% of total assets. However, equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year -€3.5m
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 08-07-2026, 23 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
23 days early
2024
71 days early
2023
34 days early
2022
28 days early
2021
131 days late
2020
109 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 14 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)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 3 July (4 of the last 5 accounts filed within 43 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Johan Vandebergh all the sharesdeed of 04-11-2026
Shares in 2 companies, Phished FR and Phished UK
Board & ownershipRecent changes
Johan Vandebergh holds all the shares
Board meeting of 27-10-2026 · Gazette deed
Permanent representative: Mathias Roef
Appointment: NV Callens Vandelanotte (statutory auditor) · General meeting of 13-05-2025 · Gazette deed
Capital contribution of €5,250,000
Contribution: Johan Vandebergh · Capital contribution: bijkomende inbreng in natura · Gazette deed
Capital contribution of €2,250,000
Contribution: Johan Vandebergh · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Phished Leuven | €8.2m | €2.8m | -42.4% | 44.6 |
| AKXIO IT Namur | €6.8m | €3.4m | 6.4% | 36.2 |
| TEAMWILL CONSULTING BENELUX Lochristi | €8.2m | €3.3m | 28.6% | 25.8 |
| GM ASSOCIATION Genappe | €13.5m | €2.9m | 19.0% | 27.6 |
| Connectis CMC Belgium Saint-Josse-ten-Noode | €6.0m | €3.8m | 62.5% | 43.3 |
| GROUP K Houthalen-Helchteren | €6.7m | €3.3m | 36.4% | 19.5 |
| XEBIA BELGIUM Antwerp | €8.7m | €2.3m | 12.8% | 17.5 |
These companies have the same main activity as Phished: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €6m and €14m, founded between 2015 and 2021.
Official details
Source: KBO- Status
- Active since 09-10-2019Normal situation
- Activity
- Computer consultancy and computer facilities managementNACE 62200
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2023
- Establishment unit
- 2.295.225.7773000 Leuven, since 09-10-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Annual accounts 2025
- ≈ €6.7mestimated
- €8.2m▼ 14.6%
- Employeeson 31-12-2025
- 46▲ 12.2%
- Filing
- Filed on 08-07-2026, 23 days before the end of the filing period
Insights on Phished
Phished files the abbreviated format. That format states no turnover. The gross margin rose from €366,725 in 2020 to €2.8m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Phished
- What is the company number of Phished?
- The company number of Phished is 0735.908.019. The VAT number is the same number with BE in front: BE 0735.908.019.
- Where is Phished based?
- The registered office is at Bondgenotenlaan 138, 3000 Leuven.Company details
- What does Phished do?
- According to the KBO register, the main activity is computer consultancy and computer facilities management (NACE 62200).
- What is the legal form of Phished?
- Phished is a private limited company (BV).
- When was Phished founded?
- Phished was founded on 09-10-2019.
- Is Phished still active?
- Yes, Phished is an active enterprise in the KBO register.
- How many employees does Phished have?
- Phished had an average of 44.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Phished fall under?
- In its 2023 annual accounts, Phished states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Phished?
- The turnover in financial year 2025 is ≈ €6.7m. This figure is estimated from the gross margin of €2.8m and 117 comparable companies (NACE 62200). It probably lies between €5.2m and €9.8m.
- Is Phished profitable?
- In financial year 2025, Phished made a loss of €3.2m.
- Where can I find the annual accounts of Phished?
- Phished filed 6 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Phished due?
- Phished must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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