Equity
PHOENIX has made a profit without a break since 2022.
PHOENIX has made a profit without a break since 2022.
The result rose in 2025 from €543,031 to €1.8m.
Green is investment, beige is depreciation.
The 2017 accounts came latest: 49 days after the end of the period.
Heads a group.
Higher net result than 95% of companies in head offices and management consultancy. Sector median €37,527 · 10,855 companies.
The dashed line is the sector median: 0.1% across 204 companies (NACE 70, large).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, large). It does better than 75% of them on solvency, 27% on liquidity, 15% on profitability and 44% on growth.
The bankruptcy probability was computed on 08-11-2026 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 very low class on 30-06-2025, 0.1% 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).
Liquidity is insufficient, with a current ratio of 0.44 (0.51 in 2024), below 1. Short-term debt is 18.6% and cash 0.4% of total assets. 20.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 11 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| PHOENIX Beernem | €134.4m | -€0.3m | 79.2% | 0 |
| Lebaras Capital Brasschaat | €142.7m | -€0.2m | 99.8% | 0.4 |
| MWM Invest Malle | €101.9m | -€0.06m | 99.8% | 0.3 |
| Perpetum Energy Holding Knokke-Heist | €79.2m | -€0.2m | 92.6% | 0.7 |
| MARLIS Uccle | €183.9m | -€2.8m | 95.0% | 1 |
| VITIS Tournai | €144.4m | -€0.5m | 87.2% | 0 |
| PLGA Enghien | €80.4m | -€0.05m | 53.8% | 1 |
These companies have the same main activity as PHOENIX: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €79m and €184m, founded between 2006 and 2019.
PHOENIX files the abbreviated format. That format states no turnover. The gross margin fell from -€14,965 in 2017 to -€332,707 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Higher than 75% of 10,855 companies in 2025.
Higher than 20% of 10,477 companies in 2025.
Higher than 32% of 10,724 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
134.4m | 129.2m | 124.1m | 121.9m | 116.7m | 120.2m | 121.7m | 114.7m | 101.0m | |
21/28 |
123.6m | 118.2m | 112.4m | 112.7m | 108.1m | 114.3m | 110.6m | 106.4m | 100.6m | |
22/27 |
7.1m | 6.6m | 5.8m | 5.3m | 4.8m | 4.3m | 4.0m | - | - | |
22 |
7.1m | 6.5m | 5.7m | 5.2m | 4.6m | 4.3m | 4.0m | - | - | |
23 |
4,141 | 3,840 | 5,244 | 1,019 | 1,345 | - | - | - | - | |
24 |
21,452 | 56,736 | 92,020 | 127,305 | 162,589 | - | - | - | - | |
26 |
19,451 | 26,970 | 34,489 | - | - | - | - | - | - | |
28 |
116.5m | 111.6m | 106.6m | 107.4m | 103.4m | 109.9m | 106.6m | 106.4m | 100.6m | |
29/58 |
10.9m | 11.0m | 11.8m | 9.2m | 8.6m | 5.9m | 11.1m | 8.3m | 404,468 | |
29 |
1.6m | 1.7m | 3.5m | 1.1m | 750,000 | 450,000 | - | - | - | |
291 |
1.6m | 1.7m | 3.5m | 1.1m | 750,000 | 450,000 | - | - | - | |
40/41 |
369,910 | 290,447 | 272,262 | 105,379 | 185,666 | 706,348 | 8,324 | 201,569 | 129 | |
40 |
329,889 | 287,461 | 264,538 | 77,055 | 157,250 | 112,036 | 796 | 796 | - | |
41 |
40,021 | 2,986 | 7,725 | 28,324 | 28,416 | 594,312 | 7,528 | 200,773 | 129 | |
50/53 |
8.3m | 8.5m | 7.8m | 7.5m | 5.9m | 2.4m | 4.3m | 1.8m | - | |
54/58 |
600,463 | 242,215 | 120,208 | 424,439 | 1.7m | 2.3m | 6.8m | 6.3m | 403,808 | |
490/1 |
6,558 | 168,137 | 12,063 | 95,432 | 28,574 | 17,217 | 68,959 | 9,162 | 531 | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
134.4m | 129.2m | 124.1m | 121.9m | 116.7m | 120.2m | 121.7m | 114.7m | 101.0m | |
10/15 |
106.4m | 104.7m | 118.9m | 116.0m | 110.7m | 115.1m | 114.5m | 110.8m | 96.1m | |
10/11 |
96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | - | 96.2m | |
10 |
- | - | - | - | - | - | - | 96.2m | - | |
100 |
- | - | - | - | - | 96.2m | 96.2m | 96.2m | 96.2m | |
13 |
14.8m | 13.0m | 27.2m | 24.3m | 19.0m | 19.0m | 18.3m | 14.7m | - | |
130/1 |
- | - | 0 | 30,565 | 30,565 | 942,971 | - | - | - | |
130 |
- | - | - | - | - | 942,971 | 912,406 | 733,837 | - | |
1311 |
- | - | 0 | 30,565 | 30,565 | - | - | - | - | |
133 |
14.8m | 13.0m | 27.2m | 24.3m | 19.0m | 18.1m | 17.4m | 14.0m | - | |
14 |
-4.5m | -4.5m | -4.5m | -4.5m | -4.5m | -54,777 | - | -54,777 | -54,777 | |
17/49 |
28.0m | 24.5m | 5.2m | 5.9m | 6.0m | 5.0m | 7.2m | 3.9m | 4.9m | |
17 |
2.3m | 2.7m | - | - | - | 1.6m | 1.8m | 2.1m | 2.4m | |
170/4 |
2.3m | 2.7m | - | - | - | 1.6m | 1.8m | 2.1m | 2.4m | |
42/48 |
25.0m | 21.5m | 5.2m | 5.9m | 6.0m | 3.5m | 5.5m | 1.8m | 2.5m | |
42 |
333,333 | 333,333 | - | - | - | - | - | - | - | |
43 |
16.5m | 10.0m | 4.3m | 5.3m | 3.1m | 212,000 | 300,529 | 328,967 | 2.5m | |
430/8 |
16.5m | 10.0m | 4.3m | 5.3m | 1.6m | 212,000 | 300,529 | 328,967 | 327,753 | |
439 |
- | - | - | - | 1.5m | - | - | - | 2.2m | |
44 |
163,555 | 260,027 | 112,132 | 71,567 | 127,821 | 90,137 | 24,339 | 6,050 | - | |
440/4 |
163,555 | 260,027 | 112,132 | 71,567 | 127,821 | 90,137 | 24,339 | 6,050 | - | |
45 |
139,667 | 339,633 | 823,972 | 534,290 | 33,613 | 429,224 | 1.8m | 1.5m | - | |
450/3 |
139,667 | 339,633 | 823,972 | 534,290 | 33,613 | 429,224 | 1.8m | 1.5m | - | |
47/48 |
7.8m | 10.5m | - | - | 2.8m | 2.8m | 3.3m | - | - | |
492/3 |
710,435 | 352,583 | 49,323 | 4,324 | 18,713 | 3,318 | 34 | 4,475 | 22,204 | |
| Income statement | ||||||||||
76A |
- | - | 0 | - | - | 195,614 | 767,231 | - | - | |
9900 |
-332,707 | -213,471 | -221,145 | -287,910 | -226,212 | 52,803 | 610,947 | -4,485 | -14,965 | |
630 |
137,197 | 110,741 | 82,738 | 64,144 | 33,885 | 3,464 | - | - | - | |
640/8 |
6,717 | 8,698 | 10,965 | 3,136 | 10,241 | 264 | 12,760 | 1,015 | 571 | |
66A |
- | - | - | - | - | - | - | 616,952 | - | |
9901 |
-476,621 | -332,910 | -314,848 | -355,190 | -270,338 | 49,075 | 598,187 | -622,452 | -15,536 | |
75/76B |
3.7m | 2.0m | 3.7m | 6.3m | 1.5m | 341,038 | 3.1m | 17.1m | 531 | |
75 |
3.7m | 2.0m | 3.7m | 6.3m | 269,069 | 341,038 | 3.1m | 17.1m | 531 | |
76B |
- | - | - | 7,473 | 1.2m | - | - | - | - | |
65/66B |
1.2m | 1.0m | 225,299 | 89,668 | 5.6m | 39,429 | -258,548 | 306,870 | 39,772 | |
65 |
1.2m | 1.0m | 225,299 | 89,668 | 52,863 | 39,429 | -258,548 | 306,870 | 39,772 | |
66B |
- | - | - | - | 5.6m | - | - | - | - | |
9903 |
2.0m | 599,450 | 3.2m | 5.8m | -4.4m | 350,684 | 4.0m | 16.2m | -54,777 | |
67/77 |
175,703 | 56,420 | 310,187 | 532,558 | 1,732 | 31,880 | 373,191 | 1.5m | - | |
9904 |
1.8m | 543,031 | 2.9m | 5.3m | -4.4m | 318,804 | 3.6m | 14.7m | -54,777 | |
9905 |
1.8m | 543,031 | 2.9m | 5.3m | -4.4m | 318,804 | 3.6m | 14.7m | -54,777 | |
| Appropriation of the result | ||||||||||
9906 |
-2.7m | -3.9m | -1.6m | 825,210 | -4.5m | 264,027 | 3.6m | 14.7m | -54,777 | |
14P |
-4.5m | -4.5m | -4.5m | -4.5m | -54,777 | - | - | -54,777 | - | |
791/2 |
0 | 14.7m | - | - | - | - | - | - | - | |
691/2 |
1.7m | 543,031 | 2.9m | 5.3m | - | 318,804 | 3.6m | 14.7m | - | |
6920 |
- | - | - | - | - | 13,201 | 178,569 | 733,837 | - | |
6921 |
1.7m | 543,031 | 2.9m | 5.3m | - | 305,603 | 3.4m | 14.0m | - | |
694/7 |
45,000 | 14.7m | - | - | - | - | - | - | - | |
694 |
0 | 14.7m | - | - | - | - | - | - | - | |
695 |
45,000 | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||
9087 |
0 | 0 | 0 | - | - | - | - | - | - | |
| Document | ||||||||||
The notes to these accounts have 19 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-08-2026.
2025 annual accounts filed 27 days after the deadline. Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00434233.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-08-2026 | 2026-00434233 | |
| 31-12-2024 | abbreviated format | 14-07-2025 | 2025-00264202 | |
| 31-12-2023 | abbreviated format | 16-07-2024 | 2024-00248215 | |
| 31-12-2022 | abbreviated format | 11-09-2023 | 2023-00444716 | |
| 31-12-2021 | abbreviated format | 01-09-2022 | 2022-20412207 | |
| 31-12-2020 | abbreviated format | 02-09-2021 | 2021-64800258 | |
| 31-12-2019 | abbreviated format | 07-07-2020 | 2020-27000324 | |
| 31-12-2018 | abbreviated format | 11-07-2019 | 2019-31500429 | |
| 31-12-2017 | abbreviated format | 18-09-2018 | 2018-63300300 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| -339,424 | -222,169 | -232,110 | -291,046 | -236,453 | 52,539 | - | - | - | ||
| 1.9m | 653,772 | 3.0m | 5.4m | -4.4m | 322,268 | - | - | - | ||
| 5.5m | 6.0m | 1.1m | 6.1m | 6.5m | 3.7m | 8.7m | 6.3m | 100.6m | ||
| 358,247 | 122,007 | -304,231 | -1.3m | -609,566 | -4.5m | 443,595 | 5.9m | - | ||
| -14.1m | -10.5m | 6.6m | 3.3m | 2.6m | 2.4m | 5.7m | 6.5m | -2.1m | ||
| 79.2% | 81.1% | 95.8% | 95.2% | 94.8% | 95.8% | 94.1% | 96.6% | 95.1% | ||
| 0.44 | 0.51 | 2.27 | 1.57 | 1.43 | 1.70 | 2.03 | 4.61 | 0.16 | ||
| 0.26 | 0.23 | 0.04 | 0.05 | 0.05 | 0.04 | 0.06 | 0.03 | 0.05 | ||
| 1.7% | 0.5% | 2.4% | 4.6% | -4.0% | 0.3% | 3.2% | 13.3% | -0.1% | ||
| 1.3% | 0.4% | 2.3% | 4.3% | -3.8% | 0.3% | 3.0% | 12.8% | -0.1% | ||
| -0.28 | -0.21 | -1.03 | -3.25 | -4.47 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €635,497 | €933,357 | €570,208 | €600,835 | €479,907 |
| Financial fixed assets | €4.8m | €5.0m | €500,000 | €5.5m | €6.0m |
| €137,197 | €110,741 | €82,738 | €64,144 | €33,885 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €476,621, larger than the loss of €332,910 in 2024. It is the lowest result since 2018.
Debt's share of the balance-sheet total rises from 18.9% to 20.8%. Equity and debt are higher.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
Heads the group PHOENIX Group, risk and exposure| BMT INTERNATIONAL
registered office since 02-12-2019 · founded in 2019 · group SIGMA INVEST |
turnover €15.7m (2025) 0738.651.931 |
| SIGMA INVEST
registered office since 23-12-2021 · founded in 2012 |
total assets €209.0m (2025) 0508.503.296 |
| J.PEAS
registered office since 28-09-1989 · founded in 1976 |
0.7 FTE (2025) 0415.860.180 |
| BMT Boechout
registered office since 16-09-2004 · founded in 2004 · group SIGMA INVEST |
total assets €3.7m (2025) 0867.271.852 |
| HONTZOCHT
registered office since 01-05-1978 · founded in 1977 |
1.3 FTE (2025) 0418.169.869 |
| BMT E.
registered office since 05-06-2007 · founded in 2007 · group SIGMA INVEST S.À R.L. |
11 FTE (2025) 0889.986.183 |
| PADDEPOELE
registered office since 03-05-2002 · founded in 1987 |
total assets €850,313 (2025) 0431.868.447 |
| Lupimmo
registered office since 01-08-2019 · founded in 2019 · negative equity (2025) |
total assets €756,353 (2025) 0731.795.021 |
| DAMME - INVEST
registered office since 27-02-1995 · founded in 1990 |
total assets €600,653 (2025) 0442.623.074 |
| Techma
registered office since 15-07-1980 · founded in 1964 |
total assets €104,144 (2025) 0402.980.263 |
Source for every holding own accounts 2025
PHOENIX or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.
| Name | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Brookville | 50% | 100% | ||||||
| ZiggZagg | 34.03% | 100% | ||||||
| HONTZOCHT | 49.49% | 0.17% | 50% | |||||
| Seyntex | 50% | |||||||
| P1 COATINGS | 45% | |||||||
| PEELTEX | 40% | |||||||
| SIGMA INVEST | 36.7% | |||||||
| SEYNAEVE TEXTILES LUX S.à.r.lLU | 50% | |||||||
| Ouverture Invest | 49.99% | |||||||
| SIGMA INVEST S.à.r.lLU | 36.7% | |||||||
| Lupimmo | 35.82% | |||||||
| 3DEE | 100% | |||||||
| SEYNAEVE TEXILES LUX S.à.r.lLU | 50% | |||||||
| GLOBAL IMPACT | 35.82% | |||||||
Source: list of holdings in its own accounts
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Reigerlostraat 6 registered office 8730 Beernem | 14-10-2016 | 2.260.617.365 |
| 19-01-2026 | Granted | Bomen vellen die geen deel uitmaken van een bos en/of bodemreliëf wijzigen; Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Verbouwen en/of uitbreiden met functiewijziging en met wijziging van aantal woongelegenheden; Verbouwen en/of uitbreiden van bijgebouwen en niet overdekte lage constructies; Verbouwen / Wijzigen Infrastructuur; Verwijderen van vrijstaande gebouwen submitted 01-07-2025 · project 2025059382 | Brugge |
| 14-05-2025 | Discontinued | Bomen vellen die geen deel uitmaken van een bos en/of bodemreliëf wijzigen; Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Verbouwen en/of uitbreiden met functiewijziging en met wijziging van aantal woongelegenheden; Verbouwen en/of uitbreiden van bijgebouwen en niet overdekte lage constructies; Verbouwen / Wijzigen Infrastructuur; Verwijderen van vrijstaande gebouwen submitted 19-02-2025 · project 2024144156 | Brugge |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31003G0340/00B000 | 1,025 m² | 1 · 391 m² | 14.3 m · 3 |
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