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QAELUM

Active
Public limited companyfounded 2011active for 14 yearsKolonel Begaultlaan 1B, 3012 Leuven, BelgiumKBO/BCE: BE 0840.884.387
Summary

The annual accounts of QAELUM for financial year 2025 show a net loss of 98% of the equity at the start of that year. The 2025 annual accounts show equity of €1.9m and a net result of -€1.7m. Equity remains stable across the filed financial years (±0.4% per year). Its solvency ranks better than 44% of 1,674 sector peers (NACE 62, financial year 2025). The company has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).

Overview

Activity
Computer programming
NACE 62100
9th fastest staff growth in Leuven, Telecoms and IT sector1 site
Size
€5.9mtotal assets 2025
Staff
27.4 FTE
Equity
€1.9m
Loss
-€1.7m
Financial health
55 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Structure
Largest shareholder
GEMMA FRISIUS-FONDS KU LEUVEN · 20.92%
Holdings
1
Accounts 23 days early4 of 18 deeds read
Why 55raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €1.7m (financial year 2025)lowers riskLiquidity: current ratio 2.41, cash €1.2mSector: Computer programming, consultancy and related activities (NACE 62)Figures for financial year 2025 (filed 08-07-2026)Show the evidence

Checked score

Score 2025
55 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 43% of its sector peers (NACE 62, small)
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency 57+3
equity 32.2% of total assets
Liquidity 67+17
short-term debt 25.6% · cash 21.1%
Profitability 0-76
return on assets -29.5%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (1,163 companies, NACE 62, small)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025lowest value 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.2%▲ +0.1 percentage points vs 07-2026highest value 09-2026: 0.2%● unchanged vs 08-2026highest value 10-2026: 0.2%● unchanged vs 09-2026highest value
Credit of up to €100,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.41, compared with 2.99 in 2024, above the usual 1.5; short-term debt: 25.6% and cash: 21.1% of total assets), but 67.8% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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): better than 40% on solvency, 80% on liquidity, 4% on profitability and 48% on growth.

The bankruptcy probability was computed on 20-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
lowers riskraises riskneutral
raises risk · Loss of €1.7m (financial year 2025)
NBB · annual accounts
lowers risk · Liquidity: current ratio 2.41, cash €1.2m
NBB · annual accounts
lowers risk · Sector: Computer programming, consultancy and related activities (NACE 62)
KBO
lowers risk · Figures for financial year 2025 (filed 08-07-2026)
NBB · annual accounts
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.9m
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 · 10 filings
Deviation from the deadline
2025
23 days early
2024
31 days early
2023
22 days early
2022
38 days early
2021
37 days early
2020
25 days early
2019
18 days early
← 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 28 days before the deadline; the sector median (NACE 62) for financial year 2024 is 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 30 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
21-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Capital & shares · Amendment of…Declaration · Capital increase ·…
  3. Appointment: LK INVESTMENT BV (director)Permanent representatives: Luc Kindt and…

Key points

  • Caution: From profit to loss in 2025after €356,849 in 2024 -€1.7m View
  • Caution: Among the weakest 5% on net resultsector median €36,848 · 1,676 companies -€1.7m View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • New directorlatest change 16-01-2026 · 1 in office 1 joined View

By topic

Financials

Financial year
2025
Total assets
€5.9m
Loss
-€1.7m
Solvency
32.2%
Total assets▼ 3.6%
Net result
20182025
Go to Financials

Board & ownership

Board
1 member
Largest shareholder
GEMMA FRISIUS-FONDS KU LEUVEN · 20.92%
  • LK INVESTMENTDirector
Go to Board & ownership

Timeline

Events
23
Since
2013
Next accounts
by 31-07-2027
  1. 16-01-2026Appointment: Susanne Heinen (day-to-day manager)
  2. 31-12-2025Weakest financial year
  3. 31-07-2025Capital & shares · Amendment of the…
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Computer programmingNACE 62100
Founded
27-10-2011
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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