Power2Citizens
ActiveSummary
Power2Citizens has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.6m and a net result of €61,146. Equity is growing by ~3299.2% per year across the filed fiscal years. Its solvency ranks better than 65% of 270 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability47▲+47
Solvency72▼-28
Growth78▲+46
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €240,000 at 30 days acceptable
Liquidity ample (current ratio 28.77 against 6.98 in 2024; short-term debt: 0.9% and cash: 21.8% of total assets), but 53.3% of the assets are financed with debt.
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Signals
Six 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 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% 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
46.7%
Return on assets
0.8%
Age of the figures
9 mo
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 01-06-2026, 60 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
60 d early
2024
71 d early
2023
44 d early
← 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 58 days before the deadline; the sector median for financial year 2024 is 23 days before the deadline, and 27% 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. Usually files around 1 June (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 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
€61,146
2024 · -€9,065
Working capital
€1.8m▲ 4,057%
2024 · €43,732
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, 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-€7,742--€8,419▼ 8.8%€115,250
Net result-€7,872below the sector's middle half--€9,065within the sector's middle half▼ 15.2%€61,146within the sector's middle half
Equity€53,628below the sector's middle half-€44,564below the sector's middle half▼ 16.9%€3.6mwithin the sector's middle half▲ 7,961%
Total assets€60,708below the sector's middle half-€51,876below the sector's middle half▼ 14.5%€7.7mwithin the sector's middle half▲ 14,724%
Debt€7,080-€7,312▲ 3.3%€4.1m▲ 55,913%
Working capital€52,520within the sector's middle half-€43,732within the sector's middle half▼ 16.7%€1.8mwithin the sector's middle half▲ 4,057%
Solvency88.3%above the sector's middle half-85.9%above the sector's middle half▼ 2.4pp46.7%within the sector's middle half▼ 39.2pp
Current ratio8.42above the sector's middle half-6.98above the sector's middle half▼ 1.4428.77above the sector's middle half▲ 21.78
Return on assets (ROA)-13.0%below the sector's middle half--17.5%below the sector's middle half▼ 4.5pp0.8%within the sector's middle half▲ 18.3pp
above
within
below
the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €115,250 after a loss of €8,419 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.7m
Fixed assets
€5.8m
Current assets
€1.9m
Equity and liabilities €7.7m
Equity
€3.6m ▲ 7,961%
Provisions
€2,343
Debt
€4.1m ▲ 55,913%
Debt's share of the balance-sheet total rises from 14.1% to 53.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€176,643▲
2024 · -€8,142
Cash flow
€122,538▲
2024 · -€8,787
Debt to equity
1.14▲
2024 · 0.16
ROE
1.7%▲
2024 · -20.3%
Interest coverage
3.26▲
2024 · -12.62
Debt ≤ 1 year
€65,481▲
2024 · €7,312
Debt > 1 year
€3.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,656 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- solvency 30% or more
- a profit under 5% of the balance sheet
- without age
0.1%
went bankrupt
2.9%
stopped otherwise
97%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 2,656 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 |
|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €7,396 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €277 | €277 | €61,393 | ▲ 22,048% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €2,343 | - |
| Other operating charges640/8 | €384 | €746 | €400 | ▼ 46.4% |
| Gross operating margin9900 | -€7,080 | -€7,396 | €179,385 | ▲ 2,525% |
| Operating profit (loss)9901 | -€7,742 | -€8,419 | €115,250 | ▲ 1,469% |
| Financial income75/76B | - | - | €0 | - |
| Recurring financial income75 | - | - | €0 | - |
| Financial charges65/66B | €130 | €645 | €54,104 | ▲ 8,287% |
| Recurring financial charges65 | €130 | €645 | €54,104 | ▲ 8,287% |
| Profit (loss) for the period before taxes9903 | -€7,872 | -€9,065 | €61,146 | ▲ 775% |
| Profit (loss) for the period9904 | -€7,872 | -€9,065 | €61,146 | ▲ 775% |
| Profit (loss) for the period to be appropriated9905 | -€7,872 | -€9,065 | €61,146 | ▲ 775% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €60,708 | €51,876 | €7.7m | ▲ 14,724% |
| Formation expenses20 | €1,109 | €832 | €554 | ▼ 33.3% |
| Fixed assets21/28 | - | - | €5.8m | - |
| Tangible fixed assets22/27 | - | - | €5.8m | - |
| Plant, machinery and equipment23 | - | - | €5.8m | - |
| Current assets29/58 | €59,600 | €51,044 | €1.9m | ▲ 3,590% |
| Amounts receivable within one year40/41 | €6 | €9 | €198,828 | ▲ 2,201,764% |
| Trade receivables40 | - | - | €198,828 | - |
| Other amounts receivable41 | €6 | €9 | - | - |
| Cash at bank and in hand54/58 | €59,594 | €51,035 | €1.7m | ▲ 3,177% |
| Deferred charges and accrued income490/1 | - | - | €12,114 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €60,708 | €51,876 | €7.7m | ▲ 14,724% |
| Equity10/15 | €53,628 | €44,564 | €3.6m | ▲ 7,961% |
| Contributions10/11 | €61,500 | €61,500 | €3.5m | ▲ 5,669% |
| Capital10 | €61,500 | €61,500 | €3.5m | ▲ 5,669% |
| Issued capital100 | €61,500 | €61,500 | €3.5m | ▲ 5,669% |
| Reserves13 | - | - | €2,210 | - |
| Non-distributable reserves130/1 | - | - | €2,210 | - |
| Legal reserve130 | - | - | €2,210 | - |
| Profit (loss) carried forward14 | -€7,872 | -€16,936 | €41,999 | ▲ 348% |
| Provisions and deferred taxes16 | - | - | €2,343 | - |
| Provisions for liabilities and charges160/5 | - | - | €2,343 | - |
| Other liabilities and charges164/5 | - | - | €2,343 | - |
| Amounts payable17/49 | €7,080 | €7,312 | €4.1m | ▲ 55,913% |
| Amounts payable after more than one year17 | - | - | €3.9m | - |
| Financial debts170/4 | - | - | €3.9m | - |
| Amounts payable within one year42/48 | €7,080 | €7,312 | €65,481 | ▲ 796% |
| Trade debts44 | €7,080 | €7,312 | €57,697 | ▲ 689% |
| Suppliers440/4 | €7,080 | €7,312 | €57,697 | ▲ 689% |
| Taxes, remuneration and social security45 | - | - | €7,785 | - |
| Taxes450/3 | - | - | €7,785 | - |
| Accrued charges and deferred income492/3 | - | - | €90,840 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,872 | -€9,065 | €61,146 | ▲ 775% |
| + Depreciation and write-downs630 | €277 | €277 | €61,393 | ▲ 22,048% |
| Operating cash flow (approximation) | -€7,594 | -€8,787 | €122,538 | ▲ 1,494% |
| Change in cash | - | -€8,559 | €1.6m | ▲ 19,048% |
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
02-09
State Gazette act
Appointment: PwC Reviseurs d'Entreprises (statutory auditor)Permanent representative: Mélanie Adorante · Power of attorney9 facts ▸
State Gazette act
Appointment: PwC Reviseurs d'Entreprises (statutory auditor)
Permanent representative: Mélanie Adorante · Power of attorney9 facts ▸
- General meeting, 18-05-2026
- Auditor appointment, PwC Reviseurs d'Entreprises (statutory auditor)
- Permanent representative, Mélanie Adorante (permanent representative)
- Power of attorney, Rebecca De Meulder
- Power of attorney, Heidi Heleven
- Power of attorney, Christian Robin
- Power of attorney, Paul Soens
- Power of attorney, Alexandre Saussez
- Other statement, Nom et signature (pas applicable aux actes de type << Mention »)
01-07
State Gazette act
Resignation: Julien Doyard (director)Appointments: HENDRICKX Thomas, HOLBRECHT Wouter and TEUWEN Filip Hendrik August · Share class · Statutes amendment13 facts ▸
State Gazette act
Resignation: Julien Doyard (director)
Appointments: HENDRICKX Thomas, HOLBRECHT Wouter and TEUWEN Filip Hendrik August · Share class · Statutes amendment13 facts ▸
- General meeting, 22-06-2026
- Share class, création, tels que définis dans le nouveau texte des statuts adopté ci-après
- Statutes amendment
- Capital, €3.548.025
- Other statement, TITRE IV. ASSEMBLEES GENERALES., titre
- Other statement, TITRE V. EXERCICE SOCIAL - COMPTES ANNUELS - DIVIDENDES - REPARTITION DES BENEFICES., titre
- Other statement, TITRE VI. DISSOLUTION ET LIQUIDATION., titre
- Director resignation, Julien Doyard (director)
- Director appointment, HENDRICKX Thomas (administrateur de classe b)
- Director appointment, HOLBRECHT Wouter (administrateur de classe a)
- Director appointment, TEUWEN Filip Hendrik August (administrateur de classe a)
- Other statement, coordination, QUATRIÈME RESOLUTION: Procuration pour la coordination
- +1 further facts in this act
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €61,146
Net result €61,146 after 2 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 28.77
Current ratio from 6.98 to 28.77.
31-12
Financial
Equity above €2mEq €3.6m ▲7,961%
Equity rises from €44,564 to €3.6m.
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€9,065
Net result drops to -€9,065, the lowest in the series; recovery starts the following year.
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 2 have been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26341014). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 3
HENDRICKX Thomas
CurrentAdministrateur de classe b · since 01-07-2026
HOLBRECHT Wouter
CurrentAdministrateur de classe a · since 01-07-2026
TEUWEN Filip Hendrik August
CurrentAdministrateur de classe a · since 01-07-2026
Statutory auditor 1
PwC Reviseurs d'Entreprises
CurrentStatutory auditor · since 02-09-2026 · perm. rep.: Mélanie Adorante
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Joost-ten-Node · 1 establishment unit since 2022
Ground area
2,230 m²
Building footprint
2,026 m²
Volume, LiDAR
54,470 m³
Parcel 21014A0004/00Y018, Brussels · tallest building 36.2 m, ±10 floors. Linked by address, not a title deed.
37
companies at this address
See who is registered here
1 establishment unit
Power2Citizens
since 20222.390.281.819
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21014A0004/00Y018 | Brussels | 2,230 m² | 1 · 2,026 m² | 36.2 m · 10 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.
Mandate history
5 people since 2026, 4 in office
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| HENDRICKX Thomas |
|
| HOLBRECHT Wouter |
|
| TEUWEN Filip Hendrik August |
|
| PwC Reviseurs d'Entreprises |
|
| Julien Doyard |
|
Articles of association
Annual meeting
Third Monday of May at 15:00
Duration
Unlimited
Name clause
Power2Citizens
Registered office clause
Région bruxelloise, transfert en tout autre lieu en Belgique par décision de l'organe de direction,sous réserve de l'application de la législation linguistique
Board rule
Conseil d'administration, si un mandat devient vacant,les autres administrateurs cooptent sans délai un nouvel administrateur parmi la liste des candidats propo…
Power of attorney
Article 10. POUVOIR DE GESTION – GESTION JOURNALIERE
Other statement
Pouvoir de gestion-gestion journalière, Article 10
Admission à l'assemblée générale, Article 16
Tout actionnaire peut se faire représenter par mandataire, actionnaire ou non, représentation à l'assemblée générale
Droit de vote, Article 21
Répartition des bénéfices, Article 25
Acompte sur dividende, Article 26
Dissolution rule
Article 27, un ou plusieurs liquidateurs nommés le cas échéant par l'assemblée générale
Structure & network
Part of the group
ELECTRICITE DE FRANCE
66 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- EDF BELGIUM
- Luminus
- Power2Citizens
Highest known parent: EDF BELGIUM. The sources do not say who stands above it.
Owners 1
- LuminusparentSourceaccounts Luminus 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Capital and shareholders
Capital over the years
- 01-07-2026 Capital stated in the act · 3,548,025 EUR · 1,000 shares
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Of 814 companies in sector 35110 we hold annual accounts for 632. 363 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded08-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
35120Electricity, gas, steam and air conditioning supply
E-invoicing
Reachable via Peppol
Peppol ID
0208:0794548081
Also
9925:BE0794548081
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.