SigmaCap
ActiveSummary
SigmaCap has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €128,952 and a net result of €48,495. Equity is growing by ~75.5% per year across the filed fiscal years. Its solvency ranks better than 72% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 4.1 against 3.78 in 2024; short-term debt: 23.8% and cash: 24.3% of total assets), and 24.1% of the assets are financed with debt.
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Signals
Five 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
75.9%
Return on assets
28.5%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 4 filingsDeviation from the deadline
2025
31 d late
2024
22 d early
2023
35 d early
2022
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 16 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.
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, abbreviated schema
Equity
€128,952▲ 60.3%
2024 · €80,458
Total assets
€169,861▲ 57.9%
2024 · €107,594
Net result
€48,495▲ 12.7%
2024 · €43,022
Working capital
€125,781▲ 66.9%
2024 · €75,341
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
Line2022202320242025
Operating result€29,067-€22,449▼ 22.8%€59,203▲ 164%€65,311▲ 10.3%
Net result€22,677within the sector's middle half-€12,258within the sector's middle half▼ 45.9%€43,022within the sector's middle half▲ 251%€48,495within the sector's middle half▲ 12.7%
Equity€25,177below the sector's middle half-€37,435within the sector's middle half▲ 48.7%€80,458within the sector's middle half▲ 115%€128,952within the sector's middle half▲ 60.3%
Total assets€37,353below the sector's middle half-€61,853below the sector's middle half▲ 65.6%€107,594within the sector's middle half▲ 74.0%€169,861below the sector's middle half▲ 57.9%
Debt€12,176-€24,418▲ 101%€27,136▲ 11.1%€40,909▲ 50.8%
Working capital€24,841-€28,174▲ 13.4%€75,341▲ 167%€125,781▲ 66.9%
Solvency67.4%within the sector's middle half-60.5%within the sector's middle half▼ 6.9pp74.8%within the sector's middle half▲ 14.3pp75.9%within the sector's middle half▲ 1.1pp
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 10% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €169,861
Fixed assets
€3,571 ▼ 30.2%
Current assets
€166,290 ▲ 62.3%
Equity and liabilities €169,861
Equity
€128,952 ▲ 60.3%
Debt
€40,909 ▲ 50.8%
Debt's share of the balance-sheet total falls from 25.2% to 24.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€66,857▲
2024 · €60,749
Cash flow
€50,040▲
2024 · €44,568
Current ratio
4.10▲
2024 · 3.78
Debt to equity
0.32▼
2024 · 0.34
ROE
37.6%▼
2024 · 53.5%
ROA
28.5%▼
2024 · 40.0%
Interest coverage
25.26▲
2024 · 20.02
Debt ≤ 1 year
€40,509▲
2024 · €27,136
Income taxes
€14,879▲
2024 · €13,701
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 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 39,276 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €704 | €1,402 | €1,545 | €1,545 | = |
| Other operating charges640/8 | €54 | €1,108 | €1,048 | €1,635 | ▲ 56.0% |
| Gross operating margin9900 | €29,825 | €24,959 | €61,797 | €68,492 | ▲ 10.8% |
| Operating profit (loss)9901 | €29,067 | €22,449 | €59,203 | €65,311 | ▲ 10.3% |
| Financial income75/76B | €24 | €152 | €555 | €709 | ▲ 27.6% |
| Recurring financial income75 | €24 | €152 | €555 | €709 | ▲ 27.6% |
| Financial charges65/66B | €20 | €4,062 | €3,035 | €2,647 | ▼ 12.8% |
| Recurring financial charges65 | €20 | €4,062 | €3,035 | €2,647 | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | €29,071 | €18,540 | €56,724 | €63,373 | ▲ 11.7% |
| Income taxes67/77 | €6,393 | €6,282 | €13,701 | €14,879 | ▲ 8.6% |
| Profit (loss) for the period9904 | €22,677 | €12,258 | €43,022 | €48,495 | ▲ 12.7% |
| Profit (loss) for the period to be appropriated9905 | €22,677 | €12,258 | €43,022 | €48,495 | ▲ 12.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €37,353 | €61,853 | €107,594 | €169,861 | ▲ 57.9% |
| Formation expenses20 | €337 | €0 | - | - | - |
| Fixed assets21/28 | - | €9,262 | €5,116 | €3,571 | ▼ 30.2% |
| Tangible fixed assets22/27 | - | €6,662 | €5,116 | €3,571 | ▼ 30.2% |
| Furniture and vehicles24 | - | €6,662 | €5,116 | €3,571 | ▼ 30.2% |
| Financial fixed assets28 | - | €2,600 | €0 | - | - |
| Current assets29/58 | €37,016 | €52,591 | €102,478 | €166,290 | ▲ 62.3% |
| Amounts receivable within one year40/41 | €11,020 | €43,426 | €52,953 | €77,718 | ▲ 46.8% |
| Trade receivables40 | €11,020 | €12,361 | €1,287 | €13,046 | ▲ 914% |
| Other amounts receivable41 | - | €31,065 | €51,666 | €64,672 | ▲ 25.2% |
| Current investments50/53 | €4,550 | €4,550 | €4,550 | €45,907 | ▲ 909% |
| Cash at bank and in hand54/58 | €20,696 | €1,687 | €44,276 | €41,238 | ▼ 6.9% |
| Deferred charges and accrued income490/1 | €750 | €2,928 | €699 | €1,428 | ▲ 104% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €37,353 | €61,853 | €107,594 | €169,861 | ▲ 57.9% |
| Equity10/15 | €25,177 | €37,435 | €80,458 | €128,952 | ▲ 60.3% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | €22,677 | €34,935 | €77,958 | €126,452 | ▲ 62.2% |
| Amounts payable17/49 | €12,176 | €24,418 | €27,136 | €40,909 | ▲ 50.8% |
| Amounts payable within one year42/48 | €12,176 | €24,418 | €27,136 | €40,509 | ▲ 49.3% |
| Trade debts44 | €629 | €4,380 | €797 | €16,261 | ▲ 1,940% |
| Suppliers440/4 | €629 | €4,380 | €797 | €16,261 | ▲ 1,940% |
| Taxes, remuneration and social security45 | €11,547 | €20,038 | €26,339 | €23,320 | ▼ 11.5% |
| Taxes450/3 | €11,547 | €17,538 | €26,339 | €23,320 | ▼ 11.5% |
| Remuneration and social security454/9 | - | €2,500 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €929 | - |
| Accrued charges and deferred income492/3 | - | - | - | €400 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,677 | €12,258 | €43,022 | €48,495 | ▲ 12.7% |
| + Depreciation and write-downs630 | €704 | €1,402 | €1,545 | €1,545 | = |
| Operating cash flow (approximation) | €23,381 | €13,660 | €44,568 | €50,040 | ▲ 12.3% |
| Investment in fixed assets (approximation) | - | - | €2,600 | €0 | ▼ 100% |
| Change in cash | - | -€19,009 | €42,589 | -€3,038 | ▼ 107% |
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
25-09
State Gazette act
Incorporation · Founding capital
Capital · Legal form clause
16-09
State Gazette act
Incorporation · Founding capital
Capital · Declaration
16-09
State Gazette act
Founder · Incorporation
Founding capital · Name clause
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
30-03
State Gazette act
Incorporation · Founder
Founding capital · Share issue · Tim CARNEWAL
30-03
State Gazette act
Incorporation · Founder
Founding capital · Share issue · Tim CARNEWAL
2025
31-12
Financial
Highest result since 2022net €48,495 ▲12.7%
Operating result €65,311, net result €48,495, both a record.
31-12
Financial
Equity above €100,000Eq €128,952 ▲60.3%
4 profitable years in a row build equity to €128,952.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €12,258 ▼45.9%
Net result drops to €12,258, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Hasselt · 2 establishment units since 2022
Ground area
1,918 m²
Building footprint
508 m²
Volume, LiDAR
8,419 m³
2 parcels, Brussels, Flanders · tallest building 28.1 m, ±8 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
Eckelsvennestraat 19, 3511 Hasselt
since 20222.330.627.413
Koningsstraat 33, 1000 Brussel
since 20222.335.722.683
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71032B0518/00C005 | Flanders | 1,460 m² | 1 · 153 m² | 9.7 m · 2 fl. |
| 21803C1118/00V002 | Brussels | 458 m² | 1 · 355 m² | 28.1 m · 8 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.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Ownership & control
5 board mandatesBoard mandates of this companythis company sits on their board5
Recognitions · licences · registrations
Legal Entity Identifier
894500XCTVXBSXFEYY16
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 40,885 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
Founded29-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0785559844
Also
9925:BE0785559844
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.