SECOND
ActiveSummary
SECOND has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €127,466 and a net result of €44,735. Equity has been growing by about 72% per year since 2022. Its solvency ranks better than 69% of 39,293 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-02-2022 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.327.795.904 3470 Kortenaken, since 09-02-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 18-03-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €59,777
- ▲ 22.7%
- Turnover
- ≈ €120,000
- estimated
- Profit
- €44,735
- ▲ 46.9%
- Equity
- €127,466
- ▲ 54.1%
- Total assets
- €173,904
- ▲ 36.3%
Score breakdownlowers riskLiquidity: current ratio 3.73, cash €158,247Sector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €173,904Equity €127,466 (73.3% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 70% of them on solvency, 83% on liquidity, 84% on profitability and 81% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 82 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 11-05-2026 PDF all 4 filings
Every figure per financial year
The operating result for 2025 is 45% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €23,000 | €4,061 | - | - |
| Depreciation and write-downs of the year | €6,847 | €8,208 | €9,020 | €2,173 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,847 | €8,208 | €9,020 | €2,173 | ▼ 75.9% |
| Other operating charges640/8 | €1,600 | €584 | €502 | €567 | ▲ 13.1% |
| Gross operating margin9900 | €38,024 | €43,574 | €48,726 | €59,777 | ▲ 22.7% |
| Operating profit (loss)9901 | €29,577 | €34,782 | €39,205 | €57,037 | ▲ 45.5% |
| Financial income75/76B | €0 | - | - | - | - |
| Recurring financial income75 | €0 | - | - | - | - |
| Financial charges65/66B | €80 | €14 | €65 | €79 | ▲ 21.1% |
| Recurring financial charges65 | €80 | €14 | €65 | €79 | ▲ 21.1% |
| Profit (loss) for the period before taxes9903 | €29,496 | €34,767 | €39,140 | €56,958 | ▲ 45.5% |
| Income taxes67/77 | €6,747 | €7,740 | €8,685 | €12,223 | ▲ 40.7% |
| Profit (loss) for the period9904 | €22,750 | €27,027 | €30,454 | €44,735 | ▲ 46.9% |
| Profit (loss) for the period to be appropriated9905 | €22,750 | €27,027 | €30,454 | €44,735 | ▲ 46.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €68,963 | €92,283 | €127,557 | €173,904 | ▲ 36.3% |
| Fixed assets21/28 | €16,153 | €12,006 | €2,985 | €812 | ▼ 72.8% |
| Tangible fixed assets22/27 | €16,153 | €12,006 | €2,985 | €812 | ▼ 72.8% |
| Furniture and vehicles24 | €16,153 | €12,006 | €2,985 | €812 | ▼ 72.8% |
| Current assets29/58 | €52,810 | €80,278 | €124,572 | €173,092 | ▲ 38.9% |
| Amounts receivable within one year40/41 | €12,856 | - | €14,671 | €14,671 | = |
| Trade receivables40 | €12,856 | - | €14,671 | €14,671 | = |
| Cash at bank and in hand54/58 | €39,692 | €80,124 | €109,739 | €158,247 | ▲ 44.2% |
| Deferred charges and accrued income490/1 | €262 | €154 | €162 | €173 | ▲ 7.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €68,963 | €92,283 | €127,557 | €173,904 | ▲ 36.3% |
| Equity10/15 | €25,250 | €52,277 | €82,731 | €127,466 | ▲ 54.1% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €22,750 | €49,777 | €80,231 | €124,966 | ▲ 55.8% |
| Distributable reserves133 | €22,750 | €49,777 | €80,231 | €124,966 | ▲ 55.8% |
| Amounts payable17/49 | €43,713 | €40,006 | €44,826 | €46,437 | ▲ 3.6% |
| Amounts payable within one year42/48 | €34,991 | €40,006 | €44,826 | €46,437 | ▲ 3.6% |
| Trade debts44 | €3,388 | - | €1,836 | €203 | ▼ 88.9% |
| Suppliers440/4 | €3,388 | - | €1,836 | €203 | ▼ 88.9% |
| Taxes, remuneration and social security45 | €8,603 | €17,006 | €19,990 | €23,234 | ▲ 16.2% |
| Taxes450/3 | €4,835 | €17,006 | €19,990 | €23,234 | ▲ 16.2% |
| Remuneration and social security454/9 | €3,768 | - | - | - | - |
| Other amounts payable47/48 | €23,000 | €23,000 | €23,000 | €23,000 | = |
| Accrued charges and deferred income492/3 | €8,722 | - | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,750 | €27,027 | €30,454 | €44,735 | ▲ 46.9% |
| + Depreciation and write-downs630 | €6,847 | €8,208 | €9,020 | €2,173 | ▼ 75.9% |
| Operating cash flow (approximation) | €29,597 | €35,235 | €39,475 | €46,908 | ▲ 18.8% |
| Investment in fixed assets (approximation) | - | -€4,061 | €0 | €0 | - |
| Change in cash | - | €40,432 | €29,615 | €48,508 | ▲ 63.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as SECOND has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SECOND itself is lower: < 0.1% within 12 months. It rests on far more data about SECOND than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for SECOND. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
- ALEN Eddy Frans 10 shares (100%) · €2,500 in cash
Capital transactions
- 11-02-2022 Incorporation · €2,500 · 10 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- 10 shares
Articles of association, deed of 11-02-2022 (in Dutch)
Network & group
Companies at the same address
1 other companyConnections & network
See the function holders in the KBO register.
Timeline
Deeds, filings and financial milestones
11-02
Gazette deed
IncorporationFounding capital of €2,500, 10 shares · Founder: ALEN Eddy Frans3 points ▸
- Incorporation, 08-02-2022
- Founder, ALEN Eddy Frans
- Founding capital, €2,500, 10 shares
- The deed holds 1 more point.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
8 activities
- Managementvennootschap,dit alles in de meest ruime zin
- Algemeen management en crisismanagement van bedrijven
- Administratieve ondersteuning van bedrijven
- Het voor eigen rekening aanleggen,het oordeelkundig uitbouwen en beheren van een roerend vermogen
- Het beheer van en de handel in onroerende goederen voor eigen rekening.Zo kan de vennootschap onroerende goederen bouwen,renoveren,kopen en verkopen,huren en verhuren en alle mogelijke onroerende handelingen verrichten die daarmee verband houden.De vennootschap kan als waarborg voor eigen verbintenissen en voor verbintenissen van derden borg staan,onder meer door haar goederen in hypotheek of in pand te geven,inclusief de eigen handelszaak
- De vennootschap kan ook de functie van bestuurder of vereffenaar van een andere vennootschap uitoefenen
- De vennootschap mag,zowel in België als in het buitenland,op welke wijze ook betrokken zijn in zaken,ondernemingen of vennootschappen,die hetzelfde,een soortgelijk of een samenhangend voorwerp hebben,of die de ontwikkeling van haar onderneming kunnen bevorderen
- De vennootschap mag zich borgstellen of zakelijke zekerheden verlenen ten voordele van vennootschappen of particulieren,in de meest ruime zin
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24054C0002/00E000 | Flanders | 1,914 m² | 1 · 396 m² | 8.3 m · 2 |