SOURCE BLEUE
ActiveSummary
SOURCE BLEUE has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15,371 and a net result of €32,370. Equity is shrinking by ~37.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 31% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency56▲+56
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity ample (current ratio 3.3 against 1.7 in 2024; short-term debt: 30.3% and cash: 82.8% of total assets), but 68.8% of the assets are financed with debt.
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Signals
Three 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 →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
2 d early
2024
on the day
2023
243 d late
2022
on the day
2021
99 d late
2020
114 d late
2019
on the day
← 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 65 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 (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€32,370▲ 533%
2024 · €5,117
Working capital
€34,400▲ 324%
2024 · €8,113
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€4,032-€13,319-€8,073▲ 39.4%€7,210€43,983▲ 510%
Net result-€893▲ 91.0%-€16,011▼ 1,693%-€11,044▲ 31.0%€5,117€32,370▲ 533%
Equity€4,939▼ 15.3%-€11,072-€22,116▼ 99.8%-€16,999▲ 23.1%€15,371
Total assets€65,233▼ 8.1%€40,958▼ 37.2%€25,584▼ 37.5%€19,973▼ 21.9%€49,325▲ 147%
Debt€60,294▼ 7.5%€52,030▼ 13.7%€47,700▼ 8.3%€36,972▼ 22.5%€33,954▼ 8.2%
Working capital€21,934▲ 10.4%€9,792▼ 55.4%€800▼ 91.8%€8,113▲ 914%€34,400▲ 324%
Staff (FTE)0.5=1
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 510% above 2024 and is the highest result in the available series.
Balance-sheet composition
Equity and liabilities €49,325
Equity
€15,371
Debt
€33,954
Debt finances 68.8% of the balance-sheet total.
Key figures and ratios
Current ratio
3.30▲
2024 · 1.70
Debt to equity
2.21▲
2024 · -2.17
ROE
210.6%
ROA
65.6%▲
2024 · 25.6%
Debt ≤ 1 year
€14,925▲
2024 · €11,600
Debt > 1 year
€19,029▼
2024 · €25,372
Income taxes
€10,378▲
2024 · €300
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,058 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% | 1.6% |
| 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 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 26,964 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €15,782 | €21,521 | €23,470 | €14,213 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,304 | €9,304 | €9,304 | €8,539 | - | - |
| Other operating charges640/8 | €241 | €199 | €989 | €542 | €428 | ▼ 21.0% |
| Gross operating margin9900 | €29,359 | €17,705 | €25,690 | €30,503 | €44,412 | ▲ 45.6% |
| Operating profit (loss)9901 | €4,032 | -€13,319 | -€8,073 | €7,210 | €43,983 | ▲ 510% |
| Financial income75/76B | €0 | - | €1 | €1 | €32 | ▲ 3,901% |
| Recurring financial income75 | €0 | - | €1 | €1 | €32 | ▲ 3,901% |
| Financial charges65/66B | €3,071 | €2,694 | €2,285 | €1,794 | €1,267 | ▼ 29.4% |
| Recurring financial charges65 | €3,071 | €2,694 | €2,285 | €1,794 | €1,267 | ▼ 29.4% |
| Profit (loss) for the period before taxes9903 | €962 | -€16,012 | -€10,356 | €5,417 | €42,749 | ▲ 689% |
| Income taxes67/77 | €1,855 | -€1 | €688 | €300 | €10,378 | ▲ 3,357% |
| Profit (loss) for the period9904 | -€893 | -€16,011 | -€11,044 | €5,117 | €32,370 | ▲ 533% |
| Profit (loss) for the period to be appropriated9905 | -€893 | -€16,011 | -€11,044 | €5,117 | €32,370 | ▲ 533% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €65,233 | €40,958 | €25,584 | €19,973 | €49,325 | ▲ 147% |
| Fixed assets21/28 | €27,407 | €18,103 | €8,799 | €260 | - | - |
| Tangible fixed assets22/27 | €27,147 | €17,843 | €8,539 | - | - | - |
| Furniture and vehicles24 | €27,147 | €17,843 | €8,539 | - | - | - |
| Financial fixed assets28 | €260 | €260 | €260 | €260 | - | - |
| Current assets29/58 | €37,826 | €22,855 | €16,785 | €19,713 | €49,325 | ▲ 150% |
| Amounts receivable within one year40/41 | €21,038 | €8,393 | €12,409 | €9,315 | €7,275 | ▼ 21.9% |
| Trade receivables40 | €19,113 | €3,694 | €12,409 | €8,840 | €6,553 | ▼ 25.9% |
| Other amounts receivable41 | €1,925 | €4,699 | - | €476 | €721 | ▲ 51.6% |
| Cash at bank and in hand54/58 | €12,136 | €10,868 | €1,708 | €8,525 | €40,838 | ▲ 379% |
| Deferred charges and accrued income490/1 | €4,652 | €3,595 | €2,667 | €1,872 | €1,213 | ▼ 35.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €65,233 | €40,958 | €25,584 | €19,973 | €49,325 | ▲ 147% |
| Equity10/15 | €4,939 | -€11,072 | -€22,116 | -€16,999 | €15,371 | ▲ 190% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| 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 | = |
| Profit (loss) carried forward14 | -€3,121 | -€19,132 | -€30,176 | -€25,059 | €7,311 | ▲ 129% |
| Amounts payable17/49 | €60,294 | €52,030 | €47,700 | €36,972 | €33,954 | ▼ 8.2% |
| Amounts payable after more than one year17 | €44,402 | €38,059 | €31,715 | €25,372 | €19,029 | ▼ 25.0% |
| Financial debts170/4 | €44,402 | €38,059 | €31,715 | €25,372 | €19,029 | ▼ 25.0% |
| Amounts payable within one year42/48 | €15,892 | €13,063 | €15,985 | €11,600 | €14,925 | ▲ 28.7% |
| Current portion of amounts payable after more than one year42 | €6,343 | €6,343 | €6,343 | €6,343 | €6,343 | = |
| Trade debts44 | - | €1,897 | €1,446 | €362 | €1,449 | ▲ 301% |
| Suppliers440/4 | - | €1,897 | €1,446 | €362 | €1,449 | ▲ 301% |
| Taxes, remuneration and social security45 | €9,549 | €4,823 | €6,762 | €4,895 | €7,133 | ▲ 45.7% |
| Taxes450/3 | €7,291 | €3,091 | €4,251 | €4,895 | €7,133 | ▲ 45.7% |
| Remuneration and social security454/9 | €2,258 | €1,733 | €2,510 | - | - | - |
| Other amounts payable47/48 | - | - | €1,434 | - | - | - |
| Accrued charges and deferred income492/3 | - | €909 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€893 | -€16,011 | -€11,044 | €5,117 | €32,370 | ▲ 533% |
| + Depreciation and write-downs630 | €9,304 | €9,304 | €9,304 | €8,539 | - | - |
| Operating cash flow (approximation) | €8,411 | -€6,707 | -€1,740 | €13,656 | €32,370 | ▲ 137% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | -€1,268 | -€9,159 | €6,817 | €32,313 | ▲ 374% |
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
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2019net €32,370 ▲533%
Operating result €43,983, net result €32,370, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 243 days late
30-06
Financial
Back to profitnet €5,117
Net result €5,117 after 5 loss-making years.
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet -€16,011
Net result drops to -€16,011, the lowest in the series; recovery starts the following year.
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 99 days late
2021
25-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 114 days late
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB 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, Huy · 1 establishment unit since 2017
Ground area
3,039 m²
Building footprint
217 m²
Volume, LiDAR
838 m³
2 parcels, Wallonia · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SOURCE BLEUE
since 20172.266.853.772
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61007D0018/00D000 | Wallonia | 2,623 m² | 1 · 116 m² | - |
| 61007D0014/00V000 | Wallonia | 416 m² | 1 · 101 m² | 10.0 m · 3 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.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 27,724 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 (pre-2019)
Founded09-08-2017
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
62900Other information technology and computer services
62200Computer consultancy and computer facilities management
63910Web portal activities
93130Fitness centres
96230Day spas, saunas and steam baths
E-invoicing
Reachable via Peppol
Peppol ID
0208:0679702556
Registered
20-11-2020
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.