RULE 11
ActiveSummary
RULE 11 has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€14,532) and a net result of -€4,605. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 5% of 32629 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
What they do
Business and other management consultancy
NACE 70200Business consulting NACE 70220
1 site
How big
€10,934turnover 2025
- Equity
- -€14,532
- Loss
- -€4,605
Who decides
Accounts 7 d early0 of 2 deeds read
Why 40- Annual accounts: weaker financial profile- Negative equity+ Lower-failure-rate sectorLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency0=
Growth85=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.41 against 0.61 in 2024; short-term debt: 244.5% and cash: 67.9% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
-144.5%
Return on assets
-45.8%
Age of the figures
18 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€14,532
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 24-10-2025, 7 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
7 d early
2024
48 d early
2023
on the day
2022
617 d late
2021
24 d late
2020
389 d late
2019
on the day
← 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 139 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 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 31 October (4 of the last 5 filed years within 48 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close01-10-2026 today31-10-2026 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2022 · micro…
Financials
Fiscal year 2025Turnover €10,934Loss -€4,605Solvency -144.5%Liquidity 0.41
Turnover
€10,934▼ 80.9%
2023 - 2025
Net result
-€4,605
2019 - 2025
Equity
-€14,532▼ 46.4%
2019 - 2025
Solvency
-144.5%▼ 80.9pp
2019 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1,050€57,317▲ 5,359%€10,934▼ 80.9%
Operating result-€3,288-€603▲ 81.7%-€1,681▼ 179%€26,612-€3,826
Net result-€5,055below the sector's middle half-€3,528below the sector's middle half▲ 30.2%-€2,970below the sector's middle half▲ 15.8%€25,334within the sector's middle half-€4,605below the sector's middle half
EBIT margin-160.1%46.4%▲ 206.5pp-35.0%▼ 81.4pp
Equity-€28,763below the sector's middle half▼ 21.3%-€32,292below the sector's middle half▼ 12.3%-€35,261below the sector's middle half▼ 9.2%-€9,927below the sector's middle half▲ 71.8%-€14,532below the sector's middle half▼ 46.4%
Total assets€11,093below the sector's middle half▼ 27.4%€11,041below the sector's middle half▼ 0.5%€9,394below the sector's middle half▼ 14.9%€15,614below the sector's middle half▲ 66.2%€10,059below the sector's middle half▼ 35.6%
Debt€39,856▲ 2.2%€43,332▲ 8.7%€44,655▲ 3.1%€25,542▼ 42.8%€24,591▼ 3.7%
Working capital-€28,763below the sector's middle half▼ 21.3%-€31,537below the sector's middle half▼ 9.6%-€34,761below the sector's middle half▼ 10.2%-€9,927below the sector's middle half▲ 71.4%-€14,532below the sector's middle half▼ 46.4%
Solvency-259.3%below the sector's middle half▼ 104.2pp-292.5%below the sector's middle half▼ 33.2pp-375.4%below the sector's middle half▼ 82.9pp-63.6%below the sector's middle half▲ 311.8pp-144.5%below the sector's middle half▼ 80.9pp
Current ratio0.28below the sector's middle half▼ 0.110.26below the sector's middle half▼ 0.020.21below the sector's middle half▼ 0.050.61below the sector's middle half▲ 0.400.41below the sector's middle half▼ 0.20
Return on assets (ROA)-45.6%below the sector's middle half▼ 61.8pp-32.0%below the sector's middle half▲ 13.6pp-31.6%below the sector's middle half▲ 0.3pp162.3%above the sector's middle half▲ 193.9pp-45.8%below the sector's middle half▼ 208.0pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3,826 after €26,612 in 2024, the lowest result in the available series.
Key figures and ratios
Key figures and ratios
Debt ≤ 1 year
€24,591▼
2024 · €25,542
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,010 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.9%
went bankrupt
8.4%
stopped otherwise
83%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 6,010 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €1,050 | €57,317 | €10,934 | ▼ 80.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €2,261 | €30,189 | €14,232 | ▼ 52.9% |
| Other operating charges640/8 | - | €468 | €469 | €516 | €528 | ▲ 2.3% |
| Gross operating margin9900 | -€3,118 | -€135 | -€1,211 | €27,128 | -€3,298 | ▼ 112% |
| Operating profit (loss)9901 | -€3,288 | -€603 | -€1,681 | €26,612 | -€3,826 | ▼ 114% |
| Financial income75/76B | - | €22 | - | - | €4 | - |
| Recurring financial income75 | €1 | €22 | - | - | €4 | - |
| Financial charges65/66B | - | €2,948 | €1,289 | €1,278 | €783 | ▼ 38.7% |
| Recurring financial charges65 | €1,768 | €2,948 | €1,289 | €1,278 | €783 | ▼ 38.7% |
| Profit (loss) for the period before taxes9903 | -€5,055 | -€3,528 | -€2,970 | €25,334 | -€4,605 | ▼ 118% |
| Profit (loss) for the period9904 | -€5,055 | -€3,528 | -€2,970 | €25,334 | -€4,605 | ▼ 118% |
| Profit (loss) for the period to be appropriated9905 | -€5,055 | -€3,528 | -€2,970 | €25,334 | -€4,605 | ▼ 118% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11,093 | €11,041 | €9,394 | €15,614 | €10,059 | ▼ 35.6% |
| Current assets29/58 | €11,093 | €11,041 | €9,394 | €15,614 | €10,059 | ▼ 35.6% |
| Amounts receivable within one year40/41 | €1,834 | €1,001 | €2,290 | €6,633 | €3,229 | ▼ 51.3% |
| Trade receivables40 | - | €980 | €847 | €2,120 | €700 | ▼ 67.0% |
| Other amounts receivable41 | - | €21 | €1,443 | €4,513 | €2,529 | ▼ 44.0% |
| Cash at bank and in hand54/58 | €8,677 | €9,456 | €6,750 | €8,981 | €6,830 | ▼ 24.0% |
| Deferred charges and accrued income490/1 | - | €584 | €354 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11,093 | €11,041 | €9,394 | €15,614 | €10,059 | ▼ 35.6% |
| Equity10/15 | -€28,763 | -€32,292 | -€35,261 | -€9,927 | -€14,532 | ▼ 46.4% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€34,963 | -€38,492 | -€41,461 | -€16,127 | -€20,732 | ▼ 28.6% |
| Amounts payable17/49 | €39,856 | €43,332 | €44,655 | €25,542 | €24,591 | ▼ 3.7% |
| Amounts payable within one year42/48 | €39,856 | €42,577 | €44,155 | €25,542 | €24,591 | ▼ 3.7% |
| Trade debts44 | €2,187 | €2,059 | €2,226 | €1,744 | €474 | ▼ 72.8% |
| Suppliers440/4 | - | €2,059 | €2,226 | €1,744 | €474 | ▼ 72.8% |
| Taxes, remuneration and social security45 | - | - | €195 | - | - | - |
| Taxes450/3 | - | - | €195 | - | - | - |
| Other amounts payable47/48 | - | €40,518 | €41,734 | €23,798 | €24,117 | ▲ 1.3% |
| Accrued charges and deferred income492/3 | - | €755 | €500 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,055 | -€3,528 | -€2,970 | €25,334 | -€4,605 | ▼ 118% |
| Operating cash flow (approximation) | -€5,055 | -€3,528 | -€2,970 | €25,334 | -€4,605 | ▼ 118% |
| Change in cash | - | €779 | -€2,706 | €2,232 | -€2,151 | ▼ 196% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector and region
2S
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AIESEC Gent
BE 0443.225.266
Gent
Amsab-Instituut voor Sociale Geschiedenis
BE 0421.285.549
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ANSA
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,601 companies in this sector we hold annual accounts for 52,629. See the whole sector
Timeline
10 eventsLatest 24-10-2025Next filing 31-10-2026
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
24-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
13-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
09-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 617 days late
31-03
Financial
Back to profitnet €25,334
Net result €25,334 after 3 loss-making years.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2021
24-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
24-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 389 days late
2020
31-03
Financial
Back to profitnet €2,478
Net result €2,478 after one loss-making year.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
27-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
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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Company details
Private limited company · founded 27-03-2017Year ends 31-03Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded27-03-2017
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
62100Computer programming
62200Computer consultancy and computer facilities management
63910Web portal activities
73200Market research and public opinion polling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0673549885
Also
9925:BE0673549885
Registered
11-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2017
Ground area
1,013 m²
Building footprint
445 m²
Volume, LiDAR
5,813 m³
2 parcels, Flanders · tallest building 20.3 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Secure 11
since 2017unit no. 2.263.137.187
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44803C0499/00C000 | Flanders | 764 m² | 1 · 344 m² | 20.3 m · 5 fl. |
| 44811L0015/00R012 | Flanders | 250 m² | 1 · 101 m² | 15.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Go further with this company
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