POSITIVE DEVELOPMENT
ActiveSummary
POSITIVE DEVELOPMENT has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111,378 and a net result of €11,353. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 92% of 2067 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+32
Solvency100▲+8
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 11.34 against 2.89 in 2024; short-term debt: 8.3% and cash: 41.7% of total assets), and 8.3% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Education (NACE 85)
about 77% 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
91.7%
Return on assets
9.3%
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-09-2026, 45 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 · 10 filingsDeviation from the deadline
2025
45 d late
2024
58 d late
2023
153 d late
2022
150 d late
2021
31 d late
2020
31 d late
2019
101 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 81 days after the deadline; the sector median for financial year 2024 is 16 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, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€11,353▲ 470%
2024 · €1,991
Working capital
€104,611▲ 14.2%
2024 · €91,609
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€12,187€3,924▼ 67.8%€11,920▲ 204%-€844€12,923
Net result€10,599€6,112▼ 42.3%€9,691▲ 58.6%€1,991▼ 79.5%€11,353▲ 470%
Equity€98,948▲ 12.0%€88,342▼ 10.7%€98,034▲ 11.0%€100,025▲ 2.0%€111,378▲ 11.4%
Total assets€105,012▲ 14.7%€109,066▲ 3.9%€156,535▲ 43.5%€148,480▼ 5.1%€121,493▼ 18.2%
Debt€6,065▲ 91.0%€20,724▲ 242%€58,501▲ 182%€48,455▼ 17.2%€10,115▼ 79.1%
Working capital€97,344▲ 11.1%€77,868▼ 20.0%€89,159▲ 14.5%€91,609▲ 2.7%€104,611▲ 14.2%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €12,923 after a loss of €844 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €121,493
Fixed assets
€6,767 ▼ 19.6%
Current assets
€114,726 ▼ 18.1%
Equity and liabilities €121,493
Equity
€111,378 ▲ 11.4%
Debt
€10,115 ▼ 79.1%
Debt's share of the balance-sheet total falls from 32.6% to 8.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€14,571▲
2024 · €753
Cash flow
€13,002▲
2024 · €3,588
Current ratio
11.34▲
2024 · 2.89
Debt to equity
0.09▼
2024 · 0.48
ROE
10.2%▲
2024 · 2.0%
ROA
9.3%▲
2024 · 1.3%
Interest coverage
93.80▲
2024 · 3.31
Debt ≤ 1 year
€10,115▼
2024 · €48,455
Income taxes
€5,182▲
2024 · €760
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 34,672 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €507 | €819 | €1,494 | €1,597 | €1,648 | ▲ 3.2% |
| Other operating charges640/8 | €348 | €348 | - | €411 | - | - |
| Gross operating margin9900 | €13,041 | €5,091 | €13,414 | €1,164 | €14,571 | ▲ 1,152% |
| Operating profit (loss)9901 | €12,187 | €3,924 | €11,920 | -€844 | €12,923 | ▲ 1,631% |
| Financial income75/76B | €2,572 | €5,005 | €2,008 | €3,823 | €3,768 | ▼ 1.4% |
| Recurring financial income75 | €2,572 | €5,005 | €2,008 | €3,823 | €3,768 | ▼ 1.4% |
| Financial charges65/66B | €168 | €142 | €184 | €227 | €155 | ▼ 31.6% |
| Recurring financial charges65 | €168 | €142 | €184 | €227 | €155 | ▼ 31.6% |
| Profit (loss) for the period before taxes9903 | €14,591 | €8,787 | €13,744 | €2,751 | €16,535 | ▲ 501% |
| Income taxes67/77 | €3,992 | €2,675 | €4,053 | €760 | €5,182 | ▲ 582% |
| Profit (loss) for the period9904 | €10,599 | €6,112 | €9,691 | €1,991 | €11,353 | ▲ 470% |
| Profit (loss) for the period to be appropriated9905 | €10,599 | €6,112 | €9,691 | €1,991 | €11,353 | ▲ 470% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €105,012 | €109,066 | €156,535 | €148,480 | €121,493 | ▼ 18.2% |
| Fixed assets21/28 | €1,679 | €10,560 | €9,066 | €8,416 | €6,767 | ▼ 19.6% |
| Tangible fixed assets22/27 | €1,679 | €10,560 | €9,066 | €8,416 | €6,767 | ▼ 19.6% |
| Plant, machinery and equipment23 | - | - | - | €843 | €527 | ▼ 37.4% |
| Furniture and vehicles24 | €1,196 | €808 | €553 | €298 | €42 | ▼ 85.7% |
| Other tangible fixed assets26 | €482 | €9,752 | €8,514 | €7,275 | €6,197 | ▼ 14.8% |
| Current assets29/58 | €103,334 | €98,507 | €147,469 | €140,064 | €114,726 | ▼ 18.1% |
| Amounts receivable within one year40/41 | €75,704 | €53,964 | €117,193 | €107,124 | €63,850 | ▼ 40.4% |
| Trade receivables40 | €12,361 | €13,000 | €54,248 | €31,256 | €17,282 | ▼ 44.7% |
| Other amounts receivable41 | €63,343 | €40,964 | €62,945 | €75,868 | €46,568 | ▼ 38.6% |
| Cash at bank and in hand54/58 | €27,629 | €44,543 | €30,204 | €32,788 | €50,722 | ▲ 54.7% |
| Deferred charges and accrued income490/1 | - | - | €72 | €153 | €153 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €105,012 | €109,066 | €156,535 | €148,480 | €121,493 | ▼ 18.2% |
| Equity10/15 | €98,948 | €88,342 | €98,034 | €100,025 | €111,378 | ▲ 11.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €92,748 | €82,142 | €91,834 | €91,834 | €103,187 | ▲ 12.4% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €90,888 | €80,282 | €89,974 | €89,974 | €101,327 | ▲ 12.6% |
| Profit (loss) carried forward14 | - | - | - | €1,991 | €1,991 | = |
| Amounts payable17/49 | €6,065 | €20,724 | €58,501 | €48,455 | €10,115 | ▼ 79.1% |
| Amounts payable within one year42/48 | €5,990 | €20,639 | €58,310 | €48,455 | €10,115 | ▼ 79.1% |
| Financial debts43 | €587 | - | €1,477 | - | - | - |
| Credit institutions430/8 | €587 | - | €1,477 | - | - | - |
| Trade debts44 | €1,411 | €13,972 | €50,161 | €43,767 | €4,283 | ▼ 90.2% |
| Suppliers440/4 | €1,411 | €13,972 | €50,161 | €43,767 | €4,283 | ▼ 90.2% |
| Taxes, remuneration and social security45 | €3,992 | €6,667 | €6,672 | €4,688 | €5,832 | ▲ 24.4% |
| Taxes450/3 | €3,992 | €6,667 | €6,672 | €4,688 | €5,832 | ▲ 24.4% |
| Accrued charges and deferred income492/3 | €75 | €85 | €192 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,599 | €6,112 | €9,691 | €1,991 | €11,353 | ▲ 470% |
| + Depreciation and write-downs630 | €507 | €819 | €1,494 | €1,597 | €1,648 | ▲ 3.2% |
| Operating cash flow (approximation) | €11,106 | €6,931 | €11,185 | €3,588 | €13,002 | ▲ 262% |
| Investment in fixed assets (approximation) | - | -€9,700 | €0 | -€946 | €0 | ▲ 100% |
| Change in cash | - | €16,913 | -€14,339 | €2,584 | €17,935 | ▲ 594% |
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
14-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 45 days late
2025
31-12
Financial
Highest result since 2018net €11,353 ▲470%
Operating result €12,923, net result €11,353, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 11.34
Current ratio from 2.89 to 11.34; short-term debt falls from €48,455 to €10,115.
27-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 58 days late
2024
31-12
Financial
Equity above €100,000Eq €100,025 ▲2%
4 profitable years in a row build equity to €100,025.
31-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 153 days late
2023
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 150 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Back to profitnet €10,599
Net result €10,599 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet -€5,550
Net result drops to -€5,550, the lowest in the series; recovery starts the following year.
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 101 days late
Show earlier events
2019
31-12
Financial
Liquidity doublescurrent ratio 17.32
Current ratio from 8.61 to 17.32; short-term debt falls from €11,484 to €5,685.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Tervuren · 1 establishment unit since 2013
Ground area
147 m²
Building footprint
67 m²
Volume, LiDAR
356 m³
Parcel 24302D0321/00C003, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
positive development
since 20132.221.043.246
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24302D0321/00C003 | Flanders | 147 m² | 1 · 67 m² | 9.9 m · 2 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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Of 3,020 companies in sector 85592 we hold annual accounts for 989. 759 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 (pre-2019)
Founded07-08-2013
Fiscal year end31-12
Activities, NACEBEL 2025
85592Vocational training
73300Public relations and communication consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0537335953
Also
9925:BE0537335953
Registered
06-01-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.