R&D CONSULTANCY
ActiveSummary
R&D CONSULTANCY has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €52k and a net result of €-5k. Equity is growing by ~11.5% per year across the filed fiscal years. Its solvency ranks better than 58% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11▼-46
Solvency90▼-10
Growth65=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 2.05 against 4.33 in 2024; short-term debt: 35.5% and cash: 17.5% of total assets), and 35.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
64.5%
Return on assets
-6.7%
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
18192021232425
2018 to 2025 · latest year €-5k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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 · 8 filingsDeviation from the deadline
2025
26 d late
2024
25 d late
2023
43 d late
2021
78 d late
2020
20 d late
2019
35 d late
2018
22 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€205k▼ 3.1%
2019 · €212k
2018: €197klowest in 3 years
2019: €212k▲ +7.8% vs 2018highest in 3 years
2020: €205k▼ -3.1% vs 2019
2018 → 2020
EBIT margin
14.4%▼ 3.9pp
2019 · 18.2%
2018: -4.9%lowest in 3 years
2019: 18.2%▲ +474% vs 2018highest in 3 years
2020: 14.4%▼ -21.2% vs 2019
2018 → 2020
Net result
€-5k▼ 213%
2024 · €-2k
2018: €-10klowest value
2019: €27k▲ +363% vs 2018highest value
2020: €19k▼ -28.8% vs 2019
2021: €16k▼ -17.8% vs 2020
2023: €-759
2024: €-2k▼ -128% vs 2023
2025: €-5k▼ -213% vs 2024
2018 → 2025
Working capital
€30k▼ 28.7%
2024 · €42k
2018: €-5klowest value
2019: €23k▲ +542% vs 2018
2020: €41k▲ +75.1% vs 2019
2021: €56k▲ +38.4% vs 2020highest value
2023: €56k
2024: €42k▼ -24.4% vs 2023
2025: €30k▼ -28.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€205k-
Equity€49k-€65k▲ 32.4%€61k▼ 5.2%€59k▼ 2.8%€52k▼ 12.6%
2020: €49klowest value
2021: €65k▲ +32.4% vs 2020highest value
2023: €61k
2024: €59k▼ -2.8% vs 2023
2025: €52k▼ -12.6% vs 2024
Operating result€29k-€25k▼ 16.6%€3k▼ 88.9%€1k▼ 56.7%€-5k
2020: €29khighest value
2021: €25k▼ -16.6% vs 2020
2023: €3k
2024: €1k▼ -56.7% vs 2023
2025: €-5k▼ -507% vs 2024lowest value
Net result€19k-€16k▼ 17.8%€-759€-2k▼ 128%€-5k▼ 213%
2020: €19khighest value
2021: €16k▼ -17.8% vs 2020
2023: €-759
2024: €-2k▼ -128% vs 2023
2025: €-5k▼ -213% vs 2024lowest value
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €5k after €1k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €80k
Fixed assets
€22k ▼ 5.5%
Current assets
€58k ▲ 7.2%
Equity and liabilities €80k
Equity
€52k ▼ 12.6%
Debt
€29k ▲ 55.4%
Debt's share of the balance-sheet total rises from 23.6% to 35.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€42▼
2024 · €5k
Cash flow
€-572▼
2024 · €3k
Current ratio
2.05▼
2024 · 4.33
Debt to equity
0.55▲
2024 · 0.31
ROE
-10.4%▼
2024 · -2.9%
ROA
-6.7%▼
2024 · -2.2%
Interest coverage
0.04▼
2024 · 4.90
Debt ≤ 1 year
€29k▲
2024 · €13k
Income taxes
€736▼
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€78k€80k▲
Fixed assets21/28€23k€22k▼
Tangible fixed assets22/27€14k€13k▼
Plant, machinery and equipment23€309€53▼
Furniture and vehicles24€3k€5k▲
Other tangible fixed assets26€11k€8k▼
Financial fixed assets28€9k€9k=
Current assets29/58€55k€58k▲
Amounts receivable within one year40/41€34k€39k▲
Trade receivables40€20k€22k▲
Other amounts receivable41€15k€17k▲
Cash at bank and in hand54/58€17k€14k▼
Deferred charges and accrued income490/1€3k€6k▲
Equity and liabilities
Total equity and liabilities10/49€78k€80k▲
Equity10/15€59k€52k▼
Contributions10/11€6k€6k=
Reserves13€23k€21k▼
Distributable reserves133€23k€21k▼
Profit (loss) carried forward14€30k€25k▼
Amounts payable17/49€18k€29k▲
Amounts payable within one year42/48€13k€29k▲
Financial debts43€2k€6k▲
Credit institutions430/8€2k€6k▲
Trade debts44€4k€6k▲
Suppliers440/4€4k€6k▲
Taxes, remuneration and social security45€7k€17k▲
Taxes450/3€7k€17k▲
Other amounts payable47/48-€105
Accrued charges and deferred income492/3€6k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8€1k€1k▼
Gross operating margin9900€7k€1k▼
Operating profit (loss)9901€1k€-5k▼
Financial income75/76B€1k€1k▼
Recurring financial income75€1k€1k▼
Financial charges65/66B€1k€963▼
Recurring financial charges65€1k€963▼
Profit (loss) for the period before taxes9903€1k€-5k▼
Income taxes67/77€3k€736▼
Profit (loss) for the period9904€-2k€-5k▼
Profit (loss) for the period to be appropriated9905€-2k€-5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€30k€25k▼
Profit (loss) brought forward from the previous period14P€32k€30k▼
Transfer from equity791/2-€2k
Profit to be distributed694/7-€2k
Return on contributions (dividend)694-€2k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €205k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €2k | €4k | €4k | €5k | ▲ 12.3% |
| Other operating charges640/8 | - | €1k | €1k | €1k | €1k | ▼ 1.2% |
| Gross operating margin9900 | €32k | €28k | €8k | €7k | €1k | ▼ 81.6% |
| Operating profit (loss)9901 | €29k | €25k | €3k | €1k | €-5k | ▼ 507% |
| Financial income75/76B | - | €213 | €464 | €1k | €1k | ▼ 8.0% |
| Recurring financial income75 | €37 | €213 | €464 | €1k | €1k | ▼ 8.0% |
| Financial charges65/66B | - | €2k | €1k | €1k | €963 | ▼ 13.9% |
| Recurring financial charges65 | €1k | €2k | €1k | €1k | €963 | ▼ 13.9% |
| Profit (loss) for the period before taxes9903 | €28k | €23k | €2k | €1k | €-5k | ▼ 478% |
| Income taxes67/77 | €9k | €7k | €3k | €3k | €736 | ▼ 75.2% |
| Profit (loss) for the period9904 | €19k | €16k | €-759 | €-2k | €-5k | ▼ 213% |
| Profit (loss) for the period to be appropriated9905 | €19k | €16k | €-759 | €-2k | €-5k | ▼ 213% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €80k | €109k | €84k | €78k | €80k | ▲ 3.4% |
| Formation expenses20 | €52 | - | - | - | - | - |
| Fixed assets21/28 | €8k | €8k | €15k | €23k | €22k | ▼ 5.5% |
| Tangible fixed assets22/27 | €8k | €8k | €15k | €14k | €13k | ▼ 8.8% |
| Plant, machinery and equipment23 | - | €1k | €565 | €309 | €53 | ▼ 83.0% |
| Furniture and vehicles24 | - | €1k | €490 | €3k | €5k | ▲ 64.8% |
| Other tangible fixed assets26 | - | €6k | €14k | €11k | €8k | ▼ 26.9% |
| Financial fixed assets28 | €40 | €40 | €40 | €9k | €9k | = |
| Current assets29/58 | €72k | €101k | €69k | €55k | €58k | ▲ 7.2% |
| Amounts receivable within one year40/41 | €43k | €50k | €44k | €34k | €39k | ▲ 12.4% |
| Trade receivables40 | - | €43k | €32k | €20k | €22k | ▲ 9.2% |
| Other amounts receivable41 | - | €7k | €12k | €15k | €17k | ▲ 16.7% |
| Cash at bank and in hand54/58 | €28k | €50k | €23k | €17k | €14k | ▼ 19.1% |
| Deferred charges and accrued income490/1 | - | €1k | €2k | €3k | €6k | ▲ 110% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €80k | €109k | €84k | €78k | €80k | ▲ 3.4% |
| Equity10/15 | €49k | €65k | €61k | €59k | €52k | ▼ 12.6% |
| Contributions10/11 | €0 | €6k | €6k | €6k | €6k | = |
| Outside capital11 | - | €6k | €6k | - | - | - |
| Other1109/19 | - | €6k | €6k | - | - | - |
| Reserves13 | €23k | €23k | €23k | €23k | €21k | ▼ 9.1% |
| Non-distributable reserves130/1 | - | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | €2k | - | - | - | - |
| Distributable reserves133 | - | €21k | €23k | €23k | €21k | ▼ 9.1% |
| Profit (loss) carried forward14 | €19k | €35k | €32k | €30k | €25k | ▼ 18.1% |
| Amounts payable17/49 | €31k | €44k | €23k | €18k | €29k | ▲ 55.4% |
| Amounts payable within one year42/48 | €31k | €44k | €13k | €13k | €29k | ▲ 127% |
| Financial debts43 | - | €1k | €2k | €2k | €6k | ▲ 170% |
| Credit institutions430/8 | - | €1k | €2k | €2k | €6k | ▲ 170% |
| Trade debts44 | €5k | €1k | €2k | €4k | €6k | ▲ 50.5% |
| Suppliers440/4 | - | €1k | €2k | €4k | €6k | ▲ 50.5% |
| Taxes, remuneration and social security45 | - | €42k | €9k | €7k | €17k | ▲ 155% |
| Taxes450/3 | - | €42k | €9k | €7k | €17k | ▲ 155% |
| Other amounts payable47/48 | - | - | - | - | €105 | - |
| Accrued charges and deferred income492/3 | - | - | €10k | €6k | - | - |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19k | €16k | €-759 | €-2k | €-5k | ▼ 213% |
| + Depreciation and write-downs630 | €2k | €2k | €4k | €4k | €5k | ▲ 12.3% |
| Operating cash flow (approximation) | €21k | €18k | €3k | €3k | €-572 | ▼ 122% |
| Investment in fixed assets (approximation) | - | €-2k | - | €-12k | €-4k | ▲ 71.1% |
| Change in cash | - | €22k | - | €-6k | €-3k | ▲ 45.4% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 43 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 5.14
Current ratio from 2.28 to 5.14; short-term debt falls from €44k to €13k.
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
04-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 35 days late
2019
31-12
Financial
Back to profitnet €27k
Net result €27k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.71
Current ratio from 0.73 to 1.71.
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 22 days late
2017
05-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 66 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Sint-Niklaas · 1 establishment unit since 2016
Ground area
794 m²
Building footprint
122 m²
Volume, LiDAR
778 m³
Parcel 46446B1124/00B000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
R&D CONSULTANCY
since 20162.252.157.777
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46446B1124/00B000 | Flanders | 794 m² | 1 · 122 m² | 8.4 m · 2 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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 38,274 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
Founded07-04-2016
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.