Financials
- Fiscal year
- 2025
- Total assets
- €457,530
- Profit
- €188,156
- Solvency
- 22.1%
QRF MANAGEMENT
ActiveSummary
QRF MANAGEMENT has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €101,062 and a net result of €188,156. Equity is shrinking by ~11.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Activity
Activity not known1 site
Size
€457,530total assets 2025
- Equity
- €101,062
- Profit
- €188,156
Structure
- Parent
- 2IM · 100%
Accounts 3 d early0 of 15 deeds read
Why 92- 1 of the last 3 late+ Size: total assets €457,530+ No main activity registered+ Founded in 2013Show the evidence
Checked score
Score 2025
92
/ 100
Excellent
Probability in this band: under 0.55%
Better than 37% of its sector peers (no NACE code, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Strong
Solvency
47-13
equity 22.1% of total assets
Liquidity
32-5
short-term debt 77.9% · cash 19.8%
Profitability
100=
return on assets 41.1%
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.1%
12-2024: 0.1%▼ -7.6% vs 11-2024
01-2025: 0.1%▲ +1.6% vs 12-2024
02-2025: 0.1%▲ +4.8% vs 01-2025
03-2025: 0.1%▼ -1.5% vs 02-2025
04-2025: 0.1%▼ -6.3% vs 03-2025lowest value
05-2025: 0.1%▲ +10.0% vs 04-2025
06-2025: 0.1%▲ +3.0% vs 05-2025
07-2025: 0.1%▲ +57.4% vs 06-2025
08-2025: 0.2%▲ +89.7% vs 07-2025
09-2025: 0.3%▲ +32.0% vs 08-2025
10-2025: 0.6%▲ +129% vs 09-2025
11-2025: 0.7%▲ +9.6% vs 10-2025
12-2025: 0.9%▲ +40.3% vs 11-2025
01-2026: 1.7%▲ +75.6% vs 12-2025
02-2026: 1.7%● 0.0% vs 01-2026
03-2026: 1.8%▲ +6.9% vs 02-2026highest value
04-2026: 1.7%▼ -5.6% vs 03-2026
05-2026: 0.8%▼ -49.3% vs 04-2026
06-2026: 0.9%▲ +9.7% vs 05-2026
07-2026: 0.9%▲ +1.4% vs 06-2026
08-2026: 0.1%▼ -90.1% vs 07-2026
09-2026: 0.1%● 0.0% vs 08-2026
10-2026: 0.1%● 0.0% vs 09-2026
- Size: total assets €457,530 lowers the probability for this profile
- 1 of the last 3 late raises the probability
- No main activity registered lowers the probability
- Founded in 2013 lowers the probability for this profile
Credit up to €9,000 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 1.34 in 2024; short-term debt: 77.9% and cash: 19.8% of total assets), and 77.9% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (no NACE code, micro). Better than this share of them on solvency 29%, liquidity 18%, profitability 90%, growth against the median 11%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
237 d late
2023
12 d early
2022
18 d late
2022
2 d late
2021
6 d early
2020
36 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 29 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 8 August (3 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
- Board meeting · MergerAccounting effect · Declaration
- General meeting · MergerShareholding · Accounting effect
- Annual accounts filedfiscal year 2025 · abbreviated…
Key points
By topic
Board & ownership
- Parent
- 2IM · 100%
Timeline
- Events
- 14
- Since
- 2017
- Next accounts
- by 31-07-2027
- 07-08-2026Board meeting · Merger
- 07-08-2026General meeting · Merger
- 28-07-2026Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Public limited company
- Founded
- 03-09-2013
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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