SHIA
ActiveSummary
SHIA has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €868,293 and a net result of €238,636. Equity is growing by ~26.3% per year across the filed fiscal years. Its solvency ranks better than 94% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+1
Solvency100▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85,000 at 30 days acceptable
Liquidity ample (current ratio 18.95 against 5.53 in 2024; short-term debt: 5% and cash: 81.5% of total assets), and 5.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 · 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
94.9%
Return on assets
26.1%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-04-2026, 92 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
92 d early
2024
16 d early
2023
9 d early
2022
13 d early
2021
76 d early
2020
82 d early
2019
84 d early
← 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 53 days before 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. Usually files around 15 July (4 of the last 5 filed years within 60 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€868,293▲ 37.2%
2024 · €632,657
Total assets
€915,133▲ 7.3%
2024 · €852,641
Net result
€238,636▲ 16.8%
2024 · €204,344
Working capital
€826,573▲ 23.1%
2024 · €671,475
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€185,618▲ 15.9%€126,882▼ 31.6%€265,216▲ 109%€272,389▲ 2.7%€320,610▲ 17.7%
Net result€147,602above the sector's middle half▲ 20.9%€98,921above the sector's middle half▼ 33.0%€190,476above the sector's middle half▲ 92.6%€204,344above the sector's middle half▲ 7.3%€238,636above the sector's middle half▲ 16.8%
Equity€145,416within the sector's middle half▼ 28.8%€244,337within the sector's middle half▲ 68.0%€433,313above the sector's middle half▲ 77.3%€632,657above the sector's middle half▲ 46.0%€868,293above the sector's middle half▲ 37.2%
Total assets€528,648above the sector's middle half▲ 16.5%€491,747within the sector's middle half▼ 7.0%€759,739above the sector's middle half▲ 54.5%€852,641above the sector's middle half▲ 12.2%€915,133above the sector's middle half▲ 7.3%
Debt€383,232▲ 53.6%€247,410▼ 35.4%€326,426▲ 31.9%€219,984▼ 32.6%€46,840▼ 78.7%
Working capital€139,973above the sector's middle half▼ 31.8%€406,499above the sector's middle half▲ 190%€598,633above the sector's middle half▲ 47.3%€671,475above the sector's middle half▲ 12.2%€826,573above the sector's middle half▲ 23.1%
Solvency27.5%within the sector's middle half▼ 17.5pp49.7%within the sector's middle half▲ 22.2pp57.0%within the sector's middle half▲ 7.3pp74.2%within the sector's middle half▲ 17.2pp94.9%above the sector's middle half▲ 20.7pp
Current ratio1.37within the sector's middle half▼ 0.477.01above the sector's middle half▲ 5.645.25above the sector's middle half▼ 1.755.53above the sector's middle half▲ 0.2818.95above the sector's middle half▲ 13.42
Return on assets (ROA)27.9%above the sector's middle half▲ 1.0pp20.1%within the sector's middle half▼ 7.8pp25.1%within the sector's middle half▲ 5.0pp24.0%within the sector's middle half▼ 1.1pp26.1%within the sector's middle half▲ 2.1pp
Staff (FTE)1▲ 100%1=1=1=1=
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
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 18% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €915,133
Fixed assets
€42,513 ▲ 29.1%
Current assets
€872,620 ▲ 6.5%
Equity and liabilities €915,133
Equity
€868,293 ▲ 37.2%
Debt
€46,840 ▼ 78.7%
Debt's share of the balance-sheet total falls from 25.8% to 5.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€333,389▲
2024 · €279,811
Cash flow
€251,415▲
2024 · €211,767
Debt to equity
0.05▼
2024 · 0.35
ROE
27.5%▼
2024 · 32.3%
Interest coverage
34.82▲
2024 · 16.36
Debt ≤ 1 year
€46,048▼
2024 · €148,230
Debt > 1 year
€0▼
2024 · €65,000
Income taxes
€86,219▲
2024 · €66,379
Staff costs
€23,298▲
2024 · €21,936
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
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 497,340 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 34,696 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 | - | €413 | €1,050 | €0 | - | - |
| Remuneration, social security and pensions62 | €17,599 | €18,906 | €21,147 | €21,936 | €23,298 | ▲ 6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,750 | €7,016 | €4,043 | €7,423 | €12,779 | ▲ 72.2% |
| Other operating charges640/8 | €2,641 | €3,972 | €7,589 | €4,341 | €5,038 | ▲ 16.1% |
| Non-recurring operating charges66A | - | - | €3,126 | €0 | - | - |
| Gross operating margin9900 | €212,607 | €156,776 | €301,121 | €306,088 | €361,725 | ▲ 18.2% |
| Operating profit (loss)9901 | €185,618 | €126,882 | €265,216 | €272,389 | €320,610 | ▲ 17.7% |
| Financial income75/76B | €15,032 | €18,820 | €18,535 | €15,437 | €13,820 | ▼ 10.5% |
| Recurring financial income75 | €15,032 | €18,820 | €18,535 | €15,437 | €13,820 | ▼ 10.5% |
| Financial charges65/66B | €4,014 | €7,487 | €22,149 | €17,103 | €9,574 | ▼ 44.0% |
| Recurring financial charges65 | €4,014 | €7,487 | €22,149 | €17,103 | €9,574 | ▼ 44.0% |
| Profit (loss) for the period before taxes9903 | €196,635 | €138,215 | €261,602 | €270,723 | €324,856 | ▲ 20.0% |
| Income taxes67/77 | €49,033 | €39,293 | €71,126 | €66,379 | €86,219 | ▲ 29.9% |
| Profit (loss) for the period9904 | €147,602 | €98,921 | €190,476 | €204,344 | €238,636 | ▲ 16.8% |
| Transfer from tax-exempt reserves789 | €58,900 | €60,520 | €64,436 | €0 | €109,460 | - |
| Transfer to tax-exempt reserves689 | - | - | €109,460 | €0 | €141,035 | - |
| Profit (loss) for the period to be appropriated9905 | €206,502 | €159,441 | €145,452 | €204,344 | €207,061 | ▲ 1.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €528,648 | €491,747 | €759,739 | €852,641 | €915,133 | ▲ 7.3% |
| Fixed assets21/28 | €9,036 | €17,565 | €20,314 | €32,936 | €42,513 | ▲ 29.1% |
| Tangible fixed assets22/27 | €9,036 | €17,565 | €20,314 | €32,936 | €42,513 | ▲ 29.1% |
| Furniture and vehicles24 | €9,036 | €17,565 | €20,314 | €32,936 | €42,513 | ▲ 29.1% |
| Current assets29/58 | €519,612 | €474,183 | €739,426 | €819,705 | €872,620 | ▲ 6.5% |
| Amounts receivable after more than one year29 | €346,896 | €351,073 | €303,630 | €0 | - | - |
| Other amounts receivable291 | €346,896 | €351,073 | €303,630 | €0 | - | - |
| Amounts receivable within one year40/41 | €66,201 | €37,662 | €120,533 | €154,810 | €87,037 | ▼ 43.8% |
| Trade receivables40 | €39,799 | €11,523 | €8,325 | €27,786 | €21,352 | ▼ 23.2% |
| Other amounts receivable41 | €26,402 | €26,138 | €112,208 | €127,024 | €65,685 | ▼ 48.3% |
| Cash at bank and in hand54/58 | €47,933 | €55,510 | €264,848 | €628,014 | €746,181 | ▲ 18.8% |
| Deferred charges and accrued income490/1 | €58,582 | €29,938 | €50,415 | €36,880 | €39,403 | ▲ 6.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €528,648 | €491,747 | €759,739 | €852,641 | €915,133 | ▲ 7.3% |
| Equity10/15 | €145,416 | €244,337 | €433,313 | €632,657 | €868,293 | ▲ 37.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €126,816 | €66,296 | €111,320 | €111,320 | €142,895 | ▲ 28.4% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | €124,956 | €64,436 | €109,460 | €109,460 | €141,035 | ▲ 28.8% |
| Profit (loss) carried forward14 | €0 | €159,441 | €303,393 | €502,737 | €706,798 | ▲ 40.6% |
| Amounts payable17/49 | €383,232 | €247,410 | €326,426 | €219,984 | €46,840 | ▼ 78.7% |
| Amounts payable after more than one year17 | - | €175,000 | €175,000 | €65,000 | €0 | ▼ 100% |
| Financial debts170/4 | - | €175,000 | €175,000 | €65,000 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €379,639 | €67,684 | €140,793 | €148,230 | €46,048 | ▼ 68.9% |
| Current portion of amounts payable after more than one year42 | €0 | - | - | - | - | - |
| Financial debts43 | €58,370 | €23,388 | €0 | €73,588 | €0 | ▼ 100% |
| Credit institutions430/8 | €58,370 | €23,388 | €0 | €73,588 | €0 | ▼ 100% |
| Other loans439 | €0 | - | - | - | - | - |
| Trade debts44 | €8,944 | €11,509 | €34,276 | €10,437 | €4,232 | ▼ 59.5% |
| Suppliers440/4 | €8,944 | €11,509 | €34,276 | €10,437 | €4,232 | ▼ 59.5% |
| Taxes, remuneration and social security45 | €38,223 | €23,122 | €88,427 | €55,972 | €34,766 | ▼ 37.9% |
| Taxes450/3 | €32,264 | €20,603 | €85,629 | €53,133 | €31,825 | ▼ 40.1% |
| Remuneration and social security454/9 | €5,959 | €2,519 | €2,798 | €2,839 | €2,941 | ▲ 3.6% |
| Other amounts payable47/48 | €274,102 | €9,665 | €18,090 | €8,233 | €7,050 | ▼ 14.4% |
| Accrued charges and deferred income492/3 | €3,593 | €4,726 | €10,633 | €6,754 | €792 | ▼ 88.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €147,602 | €98,921 | €190,476 | €204,344 | €238,636 | ▲ 16.8% |
| + Depreciation and write-downs630 | €6,750 | €7,016 | €4,043 | €7,423 | €12,779 | ▲ 72.2% |
| Operating cash flow (approximation) | €154,352 | €105,937 | €194,519 | €211,767 | €251,415 | ▲ 18.7% |
| Investment in fixed assets (approximation) | - | -€15,545 | -€6,792 | -€20,045 | -€22,356 | ▼ 11.5% |
| Change in cash | - | €7,577 | €209,338 | €363,167 | €118,167 | ▼ 67.5% |
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
26-06
State Gazette act
Merger · Incorporation
Other statement · Board composition
26-06
State Gazette act
Corporate purpose · Capital
Other statement · Shareholding
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €238,636 ▲16.8%
Operating result €320,610, net result €238,636, both a record.
31-12
Financial
Liquidity triplescurrent ratio 18.95
Current ratio from 5.53 to 18.95; short-term debt falls from €148,230 to €46,048.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €500,000Eq €632,657 ▲46%
7 profitable years in a row build equity to €632,657.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €98,921 ▼33%
Net result drops to €98,921, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 5current ratio 7.01
Current ratio from 1.37 to 7.01; short-term debt falls from €379,639 to €67,684.
31-12
Financial
Equity above €200,000Eq €244,337 ▲68%
5 profitable years in a row build equity to €244,337.
Show earlier events
16-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Heusden-Zolder · 1 establishment unit since 2014
Ground area
5,544 m²
Building footprint
227 m²
Volume, LiDAR
392 m³
Parcel 71462D0544/00E000, Flanders · tallest building 6.0 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Shia
since 20142.237.705.074
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71462D0544/00E000 | Flanders | 5,544 m² | 1 · 227 m² | 6.0 m |
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 82,641 companies in sector 70200 we hold annual accounts for 52,636. 29,391 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
Founded04-12-2014
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0505952988
Also
9925:BE0505952988
Registered
04-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.