SHADES

Active

Private limited companyfounded 20232 yrs activeRue de la Bruyère 37, 1332 Rixensart, BelgiumKBO/BCE: BE 1002.367.118

Summary

SHADES has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6,652 and a net result of €1,652. Its solvency ranks better than 28% of 4626 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.5% (low).

Risk analysisWatch Report Compare

SHADESActiveChecked score 54/100

Risk analysis Report Compare

Activity

Business and other management consultancy

NACE 70200Business consulting NACE 70220

1 site

Size

€28,034total assets 2024

Equity: €6,652
Profit: €1,652

Financial health

54 Fair Checked score 2024

Bankruptcy chance 12 m: 1.5%

Structure

Accounts filed 148 d late0 of 1 deed read

Why 54Capped at 59: a confirmed filing finding- 1 financial year not filed after the legal deadline; latest accounts 148 days late; 1 of the last 3 late- Figures for FY 2024 (filed 26-12-2025)- Founded in 2023+ Sector Activities of head offices; management consultancy activities (NACE 70)Show the evidence

Checked score

Score 2024

54 / 100

Fair

Probability in this band: 1.5% to 4.2%

Better than 29% of its sector peers (NACE 70, micro)

Performance against the sector, not lower risk

A confirmed filing finding caps the score at 59. Every signal that weighs is under Signals.

Financial strength

Average

Solvency 49

equity 23.7% of total assets

Liquidity 39

short-term debt 76.3% · cash 24.0%

Profitability 76

return on assets 5.9%

Bankruptcy probability, 12 months

1.5% Low

0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (47,599 companies)

Last 24 months 12-2024: 0.4% 01-2025: 0.4%▲ +2.2% vs 12-2024 02-2025: 0.4%● 0.0% vs 01-2025 03-2025: 0.4%▲ +1.6% vs 02-2025 04-2025: 0.4%▲ +2.2% vs 03-2025 05-2025: 0.4%▲ +11.6% vs 04-2025 06-2025: 0.5%▲ +14.4% vs 05-2025 07-2025: 0.5%▲ +0.8% vs 06-2025 08-2025: 0.5%▲ +3.1% vs 07-2025 09-2025: 0.5%▼ -1.4% vs 08-2025 10-2025: 0.6%▲ +11.3% vs 09-2025 11-2025: 0.6%▲ +5.6% vs 10-2025 12-2025: 0.6%▲ +1.4% vs 11-2025 01-2026: 0.3%▼ -45.9% vs 12-2025lowest value 02-2026: 0.3%● 0.0% vs 01-2026lowest value 03-2026: 0.4%▲ +9.7% vs 02-2026 04-2026: 0.4%▲ +9.7% vs 03-2026 05-2026: 0.4%▲ +0.3% vs 04-2026 06-2026: 0.4%▼ -3.6% vs 05-2026 07-2026: 0.4%▲ +4.0% vs 06-2026 08-2026: 0.6%▲ +57.9% vs 07-2026 09-2026: 0.8%▲ +29.1% vs 08-2026 10-2026: 1.5%▲ +84.5% vs 09-2026highest value

1 financial year not filed after the legal deadline; latest accounts 148 days late; 1 of the last 3 late raises the probability
Sector Activities of head offices; management consultancy activities (NACE 70) lowers the probability
Figures for FY 2024 (filed 26-12-2025) raises the probability
Founded in 2023 raises the probability for this profile

No publishable credit limit; credit only on tighter terms

Liquidity tight (current ratio 1.16; short-term debt: 76.3% and cash: 24% of total assets), and 76.3% 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 (NACE 70, micro). Better than this share of them on solvency 26%, liquidity 19%, profitability 42%. 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.

Credit check for your own amount and term

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Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk

1 financial year not filed after the legal deadline; latest accounts 148 days late; 1 of the last 3 late

In the bankruptcy model this factor raises the probability.

NBB · filings

Sector Activities of head offices; management consultancy activities (NACE 70)

In the bankruptcy model this factor lowers the probability.

KBO

Figures for FY 2024 (filed 26-12-2025)

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Founded in 2023

In the bankruptcy model this factor raises the probability for this profile.

KBO

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-12-2025, 148 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 1 filing

Deviation from the deadline

2024

148 d late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its 2024 accounts 148 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 (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

26-12-25 Annual accounts filedfiscal year 2024 · full…

Key points

Caution: Among the weakest 10% on equitysector median €535,928 · 4,632 companies €6,652 View
Caution: Latest accounts filed lateafter the legal deadline 148 d View
Total assets 2024first fiscal year filed €28,034 View