QCONCEPT
ActiveSummary
QCONCEPT has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €45,140 and a net result of €26,492. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 16% of 8085 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+62
Solvency33▼-4
Growth78▲+46
Track record94
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.35 against 0.94 in 2024; short-term debt: 27.9% and cash: 1.7% of total assets), and 92.2% of the assets are financed with debt.
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Signals
Seven 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more 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
7.8%
Return on assets
4.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 8085 sector peers (2025).
NBB · sector comparisonPosition among 8085 sector peers
Solvency
better than 16%
← weakest
strongest →
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 2025Equity per financial year
2122232425
2021 to 2025 · latest year €45,140
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 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 · 5 filingsDeviation from the deadline
2025
11 d late
2024
28 d late
2023
119 d late
2022
4 d late
2021
78 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 48 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€45,140▲ 142%
2024 · €18,648
Total assets
€576,283▲ 281%
2024 · €151,117
Net result
€26,492
2024 · -€8,172
Working capital
-€104,692▼ 2,006%
2024 · -€4,971
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€34,140-€2,746▼ 92.0%€31,203▲ 1,036%-€7,532€40,259
Net result€22,721--€901€22,078-€8,172€26,492
Equity€27,721-€26,820▼ 3.2%€26,820=€18,648▼ 30.5%€45,140▲ 142%
Total assets€117,554-€112,740▼ 4.1%€147,500▲ 30.8%€151,117▲ 2.5%€576,283▲ 281%
Debt€89,833-€85,920▼ 4.4%€120,680▲ 40.5%€132,469▲ 9.8%€531,143▲ 301%
Working capital€17,026-€5,853▼ 65.6%-€34,561-€4,971▲ 85.6%-€104,692▼ 2,006%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €40,259 after a loss of €7,532 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €576,283
Fixed assets
€520,136 ▲ 620%
Current assets
€56,147 ▼ 28.8%
Equity and liabilities €576,283
Equity
€45,140 ▲ 142%
Debt
€531,143 ▲ 301%
Debt's share of the balance-sheet total rises from 87.7% to 92.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€51,931▲
2024 · -€694
Cash flow
€38,165▲
2024 · -€1,334
Current ratio
0.35▼
2024 · 0.94
Debt to equity
11.77▲
2024 · 7.10
ROE
58.7%▲
2024 · -43.8%
ROA
4.6%▲
2024 · -5.4%
Interest coverage
22.89▲
2024 · -0.39
Debt ≤ 1 year
€160,839▲
2024 · €83,878
Debt > 1 year
€370,304▲
2024 · €48,592
Income taxes
€10,836▲
2024 · -€1,125
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €905 | €3,236 | €6,050 | €6,839 | €11,673 | ▲ 70.7% |
| Other operating charges640/8 | €9,600 | €268 | €1,149 | €1,701 | €32,916 | ▲ 1,835% |
| Gross operating margin9900 | €44,645 | €6,250 | €38,402 | €1,008 | €84,848 | ▲ 8,318% |
| Operating profit (loss)9901 | €34,140 | €2,746 | €31,203 | -€7,532 | €40,259 | ▲ 634% |
| Financial income75/76B | - | €0 | €1 | €34 | €2 | ▼ 93.2% |
| Recurring financial income75 | - | €0 | €1 | €34 | €2 | ▼ 93.2% |
| Financial charges65/66B | €2,140 | €2,348 | €1,458 | €1,799 | €2,933 | ▲ 63.1% |
| Recurring financial charges65 | €2,140 | €2,348 | €1,458 | €1,799 | €2,268 | ▲ 26.1% |
| Non-recurring financial charges66B | - | - | - | - | €665 | - |
| Profit (loss) for the period before taxes9903 | €32,001 | €399 | €29,746 | -€9,297 | €37,328 | ▲ 502% |
| Income taxes67/77 | €9,279 | €1,299 | €7,668 | -€1,125 | €10,836 | ▲ 1,064% |
| Profit (loss) for the period9904 | €22,721 | -€901 | €22,078 | -€8,172 | €26,492 | ▲ 424% |
| Profit (loss) for the period to be appropriated9905 | €22,721 | -€901 | €22,078 | -€8,172 | €26,492 | ▲ 424% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €117,554 | €112,740 | €147,500 | €151,117 | €576,283 | ▲ 281% |
| Fixed assets21/28 | €68,250 | €75,523 | €112,977 | €72,211 | €520,136 | ▲ 620% |
| Tangible fixed assets22/27 | €68,250 | €75,523 | €112,977 | €72,211 | €520,136 | ▲ 620% |
| Land and buildings22 | €68,250 | €69,269 | €102,883 | €65,045 | €514,895 | ▲ 692% |
| Furniture and vehicles24 | - | €6,254 | €9,090 | €5,518 | €4,022 | ▼ 27.1% |
| Other tangible fixed assets26 | - | - | €1,004 | €1,648 | €1,219 | ▼ 26.0% |
| Current assets29/58 | €49,304 | €37,217 | €34,523 | €78,906 | €56,147 | ▼ 28.8% |
| Amounts receivable within one year40/41 | €19,208 | €10,884 | €4,836 | €61,684 | €45,435 | ▼ 26.3% |
| Trade receivables40 | €17,269 | €1,085 | €4,836 | €55,170 | €40,174 | ▼ 27.2% |
| Other amounts receivable41 | €1,939 | €9,799 | - | €6,514 | €5,261 | ▼ 19.2% |
| Cash at bank and in hand54/58 | €30,096 | €24,868 | €29,295 | €15,094 | €10,072 | ▼ 33.3% |
| Deferred charges and accrued income490/1 | - | €1,465 | €393 | €2,129 | €640 | ▼ 70.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €117,554 | €112,740 | €147,500 | €151,117 | €576,283 | ▲ 281% |
| Equity10/15 | €27,721 | €26,820 | €26,820 | €18,648 | €45,140 | ▲ 142% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Outside capital11 | - | - | - | €5,000 | €5,000 | = |
| Other1109/19 | - | - | - | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €22,721 | €21,820 | €21,820 | €13,648 | €40,140 | ▲ 194% |
| Amounts payable17/49 | €89,833 | €85,920 | €120,680 | €132,469 | €531,143 | ▲ 301% |
| Amounts payable after more than one year17 | €57,554 | €54,556 | €51,596 | €48,592 | €370,304 | ▲ 662% |
| Financial debts170/4 | €57,554 | €54,556 | €51,596 | €48,592 | €370,304 | ▲ 662% |
| Amounts payable within one year42/48 | €32,278 | €31,364 | €69,084 | €83,878 | €160,839 | ▲ 91.8% |
| Current portion of amounts payable after more than one year42 | €3,256 | €2,917 | €2,960 | €3,004 | €15,543 | ▲ 417% |
| Trade debts44 | €6,104 | €7,437 | €46,588 | €60,751 | €55,103 | ▼ 9.3% |
| Suppliers440/4 | €6,104 | €7,437 | €46,588 | €60,751 | €55,103 | ▼ 9.3% |
| Taxes, remuneration and social security45 | €19,638 | €16,436 | €16,674 | €20,123 | €16,124 | ▼ 19.9% |
| Taxes450/3 | €19,638 | €16,436 | €16,674 | €17,534 | €16,124 | ▼ 8.0% |
| Remuneration and social security454/9 | - | - | - | €2,589 | - | - |
| Other amounts payable47/48 | €3,280 | €4,575 | €2,861 | - | €74,069 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,721 | -€901 | €22,078 | -€8,172 | €26,492 | ▲ 424% |
| + Depreciation and write-downs630 | €905 | €3,236 | €6,050 | €6,839 | €11,673 | ▲ 70.7% |
| Operating cash flow (approximation) | €23,626 | €2,335 | €28,128 | -€1,334 | €38,165 | ▲ 2,961% |
| Investment in fixed assets (approximation) | - | -€10,510 | -€43,503 | €33,927 | -€459,598 | ▼ 1,455% |
| Change in cash | - | -€5,228 | €4,427 | -€14,201 | -€5,022 | ▲ 64.6% |
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
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 11 days late
2025
31-12
Financial
Back to profitnet €26,492
Net result €26,492 after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet -€8,172
Net result drops to -€8,172, the lowest in the series; recovery starts the following year.
27-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 119 days late
2023
31-12
Financial
Back to profitnet €22,078
Net result €22,078 after one loss-making year.
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 4 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Wavre · 1 establishment unit since 2020
Ground area
1,689 m²
Building footprint
909 m²
Volume, LiDAR
1,182 m³
Parcel 25772K0018/00L000, Wallonia · tallest building 8.7 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
QCONCEPT
since 20202.312.699.140
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25772K0018/00L000 | Wallonia | 1,689 m² | 1 · 909 m² | 8.7 m · 3 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 6,149 companies in sector 46190 we hold annual accounts for 2,571. 1,900 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
Founded17-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
47551Retail sale of household furniture
70200Business and other management consultancy
71112Activities of interior architects
Scores and ratios are computed by Checked and are not a credit decision.