QUERCUS
ActiveSummary
QUERCUS has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €947,475 and a net result of -€146,784. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 59% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability6▼-59
Solvency89▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity short (current ratio 0.75 against 1.4 in 2024; short-term debt: 11.4% and cash: 3.3% of total assets), and 36.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
63.7%
Return on assets
-9.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€146,784
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
29 d late
2023
29 d late
2022
25 d late
2021
20 d late
2020
24 d late
2019
66 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 32 days after the deadline; the sector median for financial year 2024 is 9 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, full schema
In the rankings
#5 oldest company in Hannut, Professional and technical services sector#7 company by equity in Hannut, Professional and technical services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€146,784▼ 225%
2024 · -€45,129
Working capital
-€42,851
2024 · €36,339
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line20212022202320242025
Operating result€153,407▲ 2,374%€560,988▲ 266%-€79,971-€61,711▲ 22.8%-€159,677▼ 159%
Net result€119,029within the sector's middle half▲ 20,671%€400,486above the sector's middle half▲ 236%-€68,027below the sector's middle half-€45,129below the sector's middle half▲ 33.7%-€146,784below the sector's middle half▼ 225%
Equity€806,928within the sector's middle half▲ 17.3%€1.2mwithin the sector's middle half▲ 49.6%€1.1mwithin the sector's middle half▼ 5.6%€1.1mwithin the sector's middle half▼ 4.0%€947,475within the sector's middle half▼ 13.4%
Total assets€1.6mwithin the sector's middle half▲ 10.5%€1.8mwithin the sector's middle half▲ 14.4%€1.7mwithin the sector's middle half▼ 7.1%€1.6mwithin the sector's middle half▼ 5.1%€1.5mwithin the sector's middle half▼ 7.4%
Debt€693,859▲ 2.5%€371,369▼ 46.5%€331,527▼ 10.7%€314,543▼ 5.1%€366,039▲ 16.4%
Working capital-€158,978▲ 56.8%€164,357€81,565▼ 50.4%€36,339▼ 55.4%-€42,851
Solvency50.7%within the sector's middle half▲ 3.0pp66.3%within the sector's middle half▲ 15.6pp67.3%within the sector's middle half▲ 1.0pp68.1%within the sector's middle half▲ 0.8pp63.7%within the sector's middle half▼ 4.4pp
Staff (FTE)0.8within the sector's middle half0.8within the sector's middle half=1within the sector's middle half▲ 25.0%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result -225% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
- 2021 Net result +20,671% on 2020. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €159,677 in 2025 against €61,711 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.4m ▼ 8.1%
Current assets
€127,213 ▲ 0.7%
Equity and liabilities €1.5m
Equity
€947,475 ▼ 13.4%
Provisions
€173,458 ▼ 12.2%
Debt
€366,039 ▲ 16.4%
Debt's share of the balance-sheet total rises from 19.6% to 24.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€39,353▼
2024 · €68,178
Cash flow
-€26,461▼
2024 · €84,760
Current ratio
0.75▼
2024 · 1.40
Debt to equity
0.39▲
2024 · 0.29
ROE
-15.5%▼
2024 · -4.1%
ROA
-9.9%▼
2024 · -2.8%
Interest coverage
-3.55▼
2024 · 9.35
Debt ≤ 1 year
€170,064▲
2024 · €90,030
Debt > 1 year
€195,975▼
2024 · €224,513
Income taxes
€207
Staff costs
€28,733▼
2024 · €31,762
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% 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 12,304 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €108,012 | €690,401 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €209 | €40,421 | €31,762 | €28,733 | ▼ 9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €97,196 | €115,765 | €140,420 | €129,888 | €120,324 | ▼ 7.4% |
| Other operating charges640/8 | €5,247 | €8,370 | €8,867 | €9,539 | €24,196 | ▲ 154% |
| Non-recurring operating charges66A | €23,026 | €71,348 | - | - | - | - |
| Gross operating margin9900 | €278,877 | €756,680 | €109,737 | €109,478 | €13,576 | ▼ 87.6% |
| Operating profit (loss)9901 | €153,407 | €560,988 | -€79,971 | -€61,711 | -€159,677 | ▼ 159% |
| Financial income75/76B | €1 | €86 | - | €0 | €1 | ▲ 6,900% |
| Recurring financial income75 | €1 | €86 | - | €0 | €1 | ▲ 6,900% |
| Financial charges65/66B | €10,669 | €9,049 | €8,658 | €7,295 | €11,094 | ▲ 52.1% |
| Recurring financial charges65 | €10,669 | €9,049 | €8,658 | €7,295 | €11,094 | ▲ 52.1% |
| Profit (loss) for the period before taxes9903 | €142,739 | €552,025 | -€88,630 | -€69,005 | -€170,769 | ▼ 147% |
| Transfer from deferred taxes780 | €9,636 | €13,496 | €21,020 | €23,877 | €24,192 | ▲ 1.3% |
| Transfer to deferred taxes680 | €24,543 | €164,591 | - | - | - | - |
| Income taxes67/77 | €8,803 | €444 | €417 | - | €207 | - |
| Profit (loss) for the period9904 | €119,029 | €400,486 | -€68,027 | -€45,129 | -€146,784 | ▼ 225% |
| Transfer from tax-exempt reserves789 | €28,909 | €40,487 | €63,059 | €71,630 | €72,576 | ▲ 1.3% |
| Transfer to tax-exempt reserves689 | €73,630 | €493,772 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €74,309 | -€52,799 | -€4,968 | €26,501 | -€74,209 | ▼ 380% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 7.4% |
| Fixed assets21/28 | €1.4m | €1.5m | €1.5m | €1.5m | €1.4m | ▼ 8.1% |
| Tangible fixed assets22/27 | €1.4m | €1.5m | €1.5m | €1.5m | €1.4m | ▼ 8.1% |
| Land and buildings22 | €1.2m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 5.5% |
| Plant, machinery and equipment23 | €78,983 | €111,935 | €167,078 | €120,711 | €80,112 | ▼ 33.6% |
| Furniture and vehicles24 | €60,632 | €60,536 | €47,767 | €38,715 | €31,899 | ▼ 17.6% |
| Other tangible fixed assets26 | €69,173 | €61,338 | €53,504 | €45,669 | €43,371 | ▼ 5.0% |
| Financial fixed assets28 | €2,573 | €2,573 | €2,038 | €2,038 | €2,038 | = |
| Current assets29/58 | €195,319 | €326,026 | €149,739 | €126,370 | €127,213 | ▲ 0.7% |
| Amounts receivable within one year40/41 | €164,288 | €157,035 | €94,461 | €60,008 | €77,612 | ▲ 29.3% |
| Trade receivables40 | €164,288 | €90,885 | €35,936 | €950 | €16,504 | ▲ 1,637% |
| Other amounts receivable41 | - | €66,150 | €58,525 | €59,058 | €61,107 | ▲ 3.5% |
| Cash at bank and in hand54/58 | €30,260 | €168,991 | €55,279 | €66,361 | €49,601 | ▼ 25.3% |
| Deferred charges and accrued income490/1 | €771 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 7.4% |
| Equity10/15 | €806,928 | €1.2m | €1.1m | €1.1m | €947,475 | ▼ 13.4% |
| Contributions10/11 | €104,106 | €104,106 | €104,106 | €104,106 | €104,106 | = |
| Capital10 | €104,106 | €104,106 | €104,106 | €104,106 | €104,106 | = |
| Issued capital100 | €104,106 | €104,106 | €104,106 | €104,106 | €104,106 | = |
| Revaluation surpluses12 | €223,700 | €223,700 | €223,700 | €223,700 | €223,700 | = |
| Reserves13 | €284,766 | €738,050 | €674,991 | €603,361 | €530,786 | ▼ 12.0% |
| Non-distributable reserves130/1 | €10,411 | €10,411 | €10,411 | €10,411 | €10,411 | = |
| Legal reserve130 | €10,411 | €10,411 | €10,411 | €10,411 | €10,411 | = |
| Tax-exempt reserves132 | €274,355 | €727,640 | €664,580 | €592,951 | €520,375 | ▼ 12.2% |
| Profit (loss) carried forward14 | €194,357 | €141,558 | €136,591 | €163,092 | €88,883 | ▼ 45.5% |
| Provisions and deferred taxes16 | €91,452 | €242,547 | €221,527 | €197,650 | €173,458 | ▼ 12.2% |
| Deferred taxes168 | €91,452 | €242,547 | €221,527 | €197,650 | €173,458 | ▼ 12.2% |
| Amounts payable17/49 | €693,859 | €371,369 | €331,527 | €314,543 | €366,039 | ▲ 16.4% |
| Amounts payable after more than one year17 | €339,562 | €209,700 | €263,353 | €224,513 | €195,975 | ▼ 12.7% |
| Financial debts170/4 | €339,562 | €209,700 | €263,353 | €224,513 | €195,975 | ▼ 12.7% |
| Amounts payable within one year42/48 | €354,297 | €161,669 | €68,174 | €90,030 | €170,064 | ▲ 88.9% |
| Current portion of amounts payable after more than one year42 | €44,634 | €22,658 | €23,139 | €23,792 | €37,486 | ▲ 57.6% |
| Financial debts43 | €40,000 | - | - | €35,000 | €35,000 | = |
| Credit institutions430/8 | €40,000 | - | - | €35,000 | €35,000 | = |
| Trade debts44 | €246,365 | €129,998 | €44,618 | €30,529 | €90,344 | ▲ 196% |
| Suppliers440/4 | €246,365 | €129,998 | €44,618 | €30,529 | €90,344 | ▲ 196% |
| Taxes, remuneration and social security45 | €18,557 | €9,013 | €417 | €709 | - | - |
| Taxes450/3 | €18,557 | €9,013 | €417 | €709 | - | - |
| Other amounts payable47/48 | €4,740 | - | - | - | €7,233 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €119,029 | €400,486 | -€68,027 | -€45,129 | -€146,784 | ▼ 225% |
| + Depreciation and write-downs630 | €97,196 | €115,765 | €140,420 | €129,888 | €120,324 | ▼ 7.4% |
| Operating cash flow (approximation) | €216,226 | €516,251 | €72,393 | €84,760 | -€26,461 | ▼ 131% |
| Investment in fixed assets (approximation) | - | -€214,149 | -€187,818 | -€67,269 | €0 | ▲ 100% |
| Change in cash | - | €138,731 | -€113,712 | €11,083 | -€16,760 | ▼ 251% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€146,784
Net result drops to -€146,784, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 25 days late
2022
31-12
Financial
Highest result since 2018net €400,486 ▲236%
Operating result €560,988, net result €400,486, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 2.02
Current ratio from 0.55 to 2.02; short-term debt falls from €354,297 to €161,669.
31-12
Financial
Equity above €1mEq €1.2m ▲49.6%
5 profitable years in a row build equity to €1.2m.
20-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 20 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 66 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Hannut · 1 establishment unit since 1992
Ground area
3,686 m²
Building footprint
86 m²
Parcel 64009A0577/00_000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Wilhelmus Stassen
since 19922.058.074.041
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64009A0577/00_000 | Wallonia | 3,686 m² | 1 · 86 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHannut2.058.074.041
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PDN
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 28,438 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
Founded21-02-1992
Fiscal year end31-12
Activities, NACEBEL 2025
47210Retail sale of fruit and vegetables
70200Business and other management consultancy
Contact
Phone
0495620978
E-mail
quercuscv@outlook.comHannut
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446746861
Also
9925:BE0446746861
Registered
06-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.