Shield
ActiveSummary
Shield has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €126,031 and a net result of €147,098. Its solvency ranks better than 10% of 17213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+58
Solvency27▲+6
Growth78
Track record82
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.57 against 8.63 in 2024; short-term debt: 63.3% and cash: 37.6% of total assets), but 97.6% of the assets are financed with debt.
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Signals
Six 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 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation dateAge against the risk zone
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
2.4%
Return on assets
2.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 17213 sector peers (2025).
NBB · sector comparisonPosition among 17213 sector peers
Solvency
better than 10%
← weakest
strongest →
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 24-07-2026, 7 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
7 d early
2024
6 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€126,031
2024 · -€21,066
Total assets
€5.2m▲ 817%
2024 · €568,665
Net result
€147,098
2024 · -€21,066
Working capital
€1.9m▲ 286%
2024 · €490,569
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related 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
Line20242025
Operating result-€17,778-€143,202
Net result-€21,066below the sector's middle half-€147,098above the sector's middle half
Equity-€21,066below the sector's middle half-€126,031within the sector's middle half
Total assets€568,665above the sector's middle half-€5.2mabove the sector's middle half▲ 817%
Debt€589,731-€5.1m▲ 763%
Working capital€490,569above the sector's middle half-€1.9mabove the sector's middle half▲ 286%
Solvency-3.7%below the sector's middle half-2.4%below the sector's middle half▲ 6.1pp
Current ratio8.63above the sector's middle half-1.57within the sector's middle half▼ 7.06
Return on assets (ROA)-3.7%below the sector's middle half-2.8%below the sector's middle half▲ 6.5pp
Staff (FTE)9.3
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related 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
The operating result returns to profit in 2025: €143,202 after a loss of €17,778 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.2m
Fixed assets
€19,734 ▲ 42.7%
Current assets
€5.2m ▲ 837%
Equity and liabilities €5.2m
Equity
€126,031
Debt
€5.1m
Debt finances 97.6% of the balance-sheet total.
Key figures and ratios
EBITDA
€154,886▲
2024 · -€16,162
Cash flow
€158,782▲
2024 · -€19,450
Debt to equity
40.39▲
2024 · -27.99
ROE
116.7%
Interest coverage
385.26▲
2024 · -3.30
Debt ≤ 1 year
€3.3m▲
2024 · €64,262
Income taxes
€3,329
Staff costs
€798,126▲
2024 · €185,182
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,136 companies that looked in July 2024 the way this one looks now, 4.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
4.9%
went bankrupt
2.0%
stopped otherwise
92%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 2,136 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 | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €185,182 | €798,126 | ▲ 331% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,616 | €11,685 | ▲ 623% |
| Other operating charges640/8 | €21,557 | €149,822 | ▲ 595% |
| Gross operating margin9900 | €190,577 | €1.1m | ▲ 479% |
| Operating profit (loss)9901 | -€17,778 | €143,202 | ▲ 905% |
| Financial income75/76B | €1,611 | €7,627 | ▲ 374% |
| Recurring financial income75 | €1,611 | €7,627 | ▲ 374% |
| Financial charges65/66B | €4,899 | €402 | ▼ 91.8% |
| Recurring financial charges65 | €4,899 | €402 | ▼ 91.8% |
| Profit (loss) for the period before taxes9903 | -€21,066 | €150,426 | ▲ 814% |
| Income taxes67/77 | - | €3,329 | - |
| Profit (loss) for the period9904 | -€21,066 | €147,098 | ▲ 798% |
| Profit (loss) for the period to be appropriated9905 | -€21,066 | €147,098 | ▲ 798% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €568,665 | €5.2m | ▲ 817% |
| Fixed assets21/28 | €13,834 | €19,734 | ▲ 42.7% |
| Tangible fixed assets22/27 | €12,834 | €18,734 | ▲ 46.0% |
| Furniture and vehicles24 | €12,834 | €18,734 | ▲ 46.0% |
| Financial fixed assets28 | €1,000 | €1,000 | = |
| Current assets29/58 | €554,831 | €5.2m | ▲ 837% |
| Amounts receivable within one year40/41 | €83,831 | €3.2m | ▲ 3,741% |
| Trade receivables40 | €80,889 | €3.2m | ▲ 3,810% |
| Other amounts receivable41 | €2,942 | €57,323 | ▲ 1,848% |
| Cash at bank and in hand54/58 | €468,027 | €2.0m | ▲ 319% |
| Deferred charges and accrued income490/1 | €2,973 | €13,633 | ▲ 359% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €568,665 | €5.2m | ▲ 817% |
| Equity10/15 | -€21,066 | €126,031 | ▲ 698% |
| Profit (loss) carried forward14 | -€21,066 | €126,031 | ▲ 698% |
| Amounts payable17/49 | €589,731 | €5.1m | ▲ 763% |
| Amounts payable within one year42/48 | €64,262 | €3.3m | ▲ 5,036% |
| Trade debts44 | €64,262 | €3.2m | ▲ 4,931% |
| Suppliers440/4 | €64,262 | €3.2m | ▲ 4,931% |
| Taxes, remuneration and social security45 | - | €67,419 | - |
| Taxes450/3 | - | €1,616 | - |
| Remuneration and social security454/9 | - | €65,804 | - |
| Accrued charges and deferred income492/3 | €525,469 | €1.8m | ▲ 241% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€21,066 | €147,098 | ▲ 798% |
| + Depreciation and write-downs630 | €1,616 | €11,685 | ▲ 623% |
| Operating cash flow (approximation) | -€19,450 | €158,782 | ▲ 916% |
| Investment in fixed assets (approximation) | - | -€17,585 | - |
| Change in cash | - | €1.5m | - |
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
17-08
State Gazette act
Resignation: Augustinus Janssen (director)Appointment: Eline Leirman (director) · Permanent representative: Jurgen Elsen5 facts ▸
State Gazette act
Resignation: Augustinus Janssen (director)
Appointment: Eline Leirman (director) · Permanent representative: Jurgen Elsen5 facts ▸
- General meeting, 23-06-2026
- Director resignation, Augustinus Janssen (director)
- Director appointment, Eline Leirman (director)
- Permanent representative, Jurgen Elsen (permanent representative)
- Other statement, bestuurder, bestuurder vermelding
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €147,098
Net result €147,098 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €126,031
Equity rises from -€21,066 to €126,031.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Eline Leirman
CurrentDirector · since 17-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 2024
Ground area
2.9 ha
2 parcels, Flanders. Linked by address, not a title deed.
1 establishment unit
Shield
since 20242.360.058.005
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71011A0272/00F000 | Flanders | 2.5 ha | - | - |
| 71322A0540/00B002 | Flanders | 3,380 m² | - | - |
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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Eline Leirman |
|
| Augustinus Janssen |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Recognitions · licences · registrations
Legal Entity Identifier
89450018Y5HEM6BSZB28
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Of 30,007 companies in sector 62200 we hold annual accounts for 18,400. 15,458 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded14-11-2023
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:1002259428
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.