Equity
€20,749 from €76,971 in 2022
Equity fell by 73% in 3 years.
TRANSFORMATIVE
Overview
Lifetime
5 annual accounts with figures on one time axispeak €118,825 (2021)
€97,721▲ 9.4%
lowest -€35,332 (2023)
€66,290▼ 9.0%
peak €76,971 (2022)
€20,749▼ 61.9%
€142,766▲ 458%
Board1 name since 2020
1 directorVASSART Gary Kevin Hong
Documentsfilings and deeds
30-07-20261 day before the deadline
2025micro format
Dividend €100,000Equity from €54,459 to €20,749Debts from €25,588 to €142,766Investments €36,529
Key points
from the 2025 annual accountsTurnover
≈ €230,000 estimated
The micro format states no turnover.
Debts
€142,766 87% of the balance sheet
Financial debts 14%Suppliers 0%Taxes and wages 20%Other 65%
Of this, €121,988 falls due within a year.
Investments
€73,058 14.2 × depreciation
Green is investment, beige is depreciation.
Liquidity
1.08 was 3.11 in 2024
Short-term debts rose from €25,588 to €121,988.
Position in the sector
12.7%
Lower solvency than 83% of companies in computer programming and consultancy. Sector median 60.0% · 21,208 companies.
Checked score
92
Excellent
Financially stronger than 39% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026lowest value
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026highest value
11-2026: 0.1%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
Equity €20,749 (12.7% of total assets)
lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Liquidity: current ratio 1.08, cash €86,404
Size: total assets €163,516
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 18% of them on solvency, 43% on liquidity, 82% on profitability and 12% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,713 companies had the same profile as TRANSFORMATIVE has now. Each dot stands for 17 companies, two years later.
95.8%
were still trading
2.2%
stopped another way
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of TRANSFORMATIVE itself is lower: 0.1% within 12 months. It rests on far more data about TRANSFORMATIVE than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,713 companies, not a prediction for TRANSFORMATIVE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.08 (3.11 in 2024), below the usual 1.5. Short-term debt is 74.6% and cash 52.8% of total assets. 87.3% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 21208 sector peers (2025).
NBB · sector comparisonPosition among 21208 sector peers
Solvency
better than 16%
← 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 30-07-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 day early
2024
112 days early
2023
21 days early
2022
7 days early
2021
20 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 32 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0756639689
Incorporation
Founding capital of €20,000, 100 shares · Founder: VASSART Gary Kevin Hong · Appointment: VASSART Gary Kevin Hong (director) · published on 19-10-2020 · Gazette deed
First establishment
Albert I-laan 101, Vilvoorde
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| TRANSFORMATIVE Vilvoorde | €163,516 | €97,721 | 12.7% | - |
| WILLIAM NICORA CONSULTING Vilvoorde | €155,669 | €107,646 | 88.7% | - |
| BitBiz Boutersem | €162,539 | €90,241 | 1.5% | - |
| BEWNET CONSULTING Wezembeek-Oppem | €160,077 | €109,064 | 1.2% | - |
| B.C.C. Beersel | €165,313 | €89,785 | 46.6% | - |
| STRUKTURED-INSTRUKTED Boutersem | €197,631 | €93,742 | 71.2% | - |
| NORDIT Kortenberg | €193,057 | €87,764 | 93.9% | - |
These companies have the same main activity as TRANSFORMATIVE: computer programming (NACE 62100). They are comparable in size and age: total assets between €156,000 and €198,000, founded between 2019 and 2021.
Official details
Source: KBO- Status
- Active since 15-10-2020Normal situation
- Activity
- Computer programmingNACE 62100
- Joint committees
- 100Auxiliary committee for blue-collar workers
- 200Auxiliary committee for white-collar workers · annual accounts 2022
- Establishment unit
- 2.308.555.9531800 Vilvoorde, since 15-10-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 17-10-2024
Annual accounts 2025
- €97,721▲ 9.4%
- €66,290▼ 9.0%
- €20,749▼ 61.9%
- €163,516▲ 104%
- Filing
- Filed on 30-07-2026, 1 day before the end of the filing period
Insights on TRANSFORMATIVE
TRANSFORMATIVE files the micro format. That format states no turnover. The gross margin fell from €118,825 in 2021 to €97,721 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 30-07-2026, 1 day before the deadline€97,721
▲ 9.4%
€91,988
▲ 4.8%
€66,290
▼ 9.0%
€9,571
▼ 82.2%
12.7%
▼ 55.3 percentage points
1.08
▼ 2.03
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €230,000. Estimated: probably between €190,000 and €290,000.
Balance sheet
balance sheet total €163,516 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
12.7%
Higher than 16% of 21,208 companies in 2025.
1.08
Higher than 21% of 20,571 companies in 2025.
40.5%
Higher than 78% of 20,746 companies in 2025.
TRANSFORMATIVE
Middle half of the sector
80% of the sector
Micro accounts in computer programming and consultancy (NACE 62)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff
Staff costs divided by the average number of full-time equivalents.
people who joined
people who left
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
163,516 | 80,048 | 58,125 | 127,270 | 158,047 | |
21/28 |
31,957 | 572 | 1,601 | 6,061 | 7,263 | |
22/27 |
31,957 | 572 | 1,601 | 1,805 | 3,035 | |
23 |
179 | 572 | 1,601 | 1,805 | 3,035 | |
24 |
31,778 | - | - | - | - | |
28 |
- | - | 0 | 4,256 | 4,228 | |
29/58 |
131,558 | 79,476 | 56,524 | 121,209 | 150,785 | |
40/41 |
32,700 | 4,235 | 1,165 | 9,000 | 16,093 | |
40 |
32,700 | 4,235 | 0 | 9,000 | 16,093 | |
41 |
- | 0 | 1,165 | - | - | |
54/58 |
86,404 | 74,019 | 53,830 | 110,873 | 131,940 | |
490/1 |
12,454 | 1,222 | 1,529 | 1,335 | 2,751 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
163,516 | 80,048 | 58,125 | 127,270 | 158,047 | |
10/15 |
20,749 | 54,459 | 41,638 | 76,971 | 46,187 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
14 |
15,749 | 49,459 | 36,638 | 71,971 | 41,187 | |
17/49 |
142,766 | 25,588 | 16,487 | 50,299 | 111,860 | |
17 |
20,429 | - | - | - | - | |
170/4 |
20,429 | - | - | - | - | |
42/48 |
121,988 | 25,588 | 16,487 | 50,299 | 111,860 | |
42 |
7,963 | - | - | - | - | |
44 |
16 | 1,860 | 1,851 | 8,209 | 2,402 | |
440/4 |
16 | 1,860 | 1,851 | 8,209 | 2,402 | |
45 |
29,005 | 23,524 | 14,558 | 42,089 | 34,458 | |
450/3 |
29,005 | 23,524 | 14,458 | 36,373 | 34,458 | |
454/9 |
- | 0 | 99 | 5,716 | 0 | |
47/48 |
85,004 | 204 | 79 | - | 75,000 | |
492/3 |
350 | - | - | - | - | |
| Income statement | ||||||
9900 |
97,721 | 89,353 | -9,259 | 91,915 | 118,825 | |
62 |
0 | 15 | 22,387 | 47,311 | - | |
630 |
5,143 | 1,029 | 1,383 | 1,230 | 654 | |
640/8 |
590 | 576 | 573 | 1,232 | 215 | |
9901 |
91,988 | 87,733 | -33,601 | 42,142 | 117,956 | |
75/76B |
0 | 0 | 0 | 3 | 3 | |
75 |
0 | 0 | 0 | 3 | 3 | |
65/66B |
1,370 | 969 | 1,404 | 1,473 | 739 | |
65 |
1,370 | 969 | 1,404 | 1,473 | 739 | |
9903 |
90,618 | 86,764 | -35,005 | 40,672 | 117,220 | |
67/77 |
24,328 | 13,944 | 328 | 9,888 | 26,033 | |
9904 |
66,290 | 72,821 | -35,332 | 30,784 | 91,187 | |
9905 |
66,290 | 72,821 | -35,332 | 30,784 | 91,187 | |
| Appropriation of the result | ||||||
9906 |
115,749 | 109,459 | 36,638 | 71,971 | 91,187 | |
14P |
49,459 | 36,638 | 71,971 | 41,187 | - | |
694/7 |
100,000 | 60,000 | - | - | 50,000 | |
694 |
100,000 | 60,000 | - | - | - | |
695 |
- | - | - | - | 50,000 | |
| Social balance sheet | ||||||
9087 |
- | - | - | 1 | - | |
Hours worked1013 |
- | - | - | 1,896 | - | |
| Document | ||||||
The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00373640 | |
| 31-12-2024 | micro format | 10-04-2025 | 2025-00067055 | |
| 31-12-2023 | micro format | 10-07-2024 | 2024-00234403 | |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00282493 | |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20167749 |
Subsidies and aid
Flemish government 2022, 1 entry, €419 awarded, €419 paid
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 97,131 | 88,762 | -32,219 | 43,371 | 118,610 | ||
| 71,433 | 73,850 | -33,950 | 32,013 | 91,841 | ||
| 73,058 | 0 | 1,179 | 28 | 7,917 | ||
| 12,385 | 20,188 | -57,043 | -21,067 | - | ||
| 9,571 | 53,887 | 40,037 | 70,910 | 38,924 | ||
| 12.7% | 68.0% | 71.6% | 60.5% | 29.2% | ||
| 1.08 | 3.11 | 3.43 | 2.41 | 1.35 | ||
| 6.88 | 0.47 | 0.40 | 0.65 | 2.42 | ||
| 319.5% | 133.7% | -84.9% | 40.0% | 197.4% | ||
| 40.5% | 91.0% | -60.8% | 24.2% | 57.7% | ||
| 70.92 | 91.62 | -22.96 | 29.44 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2022 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| in full-time equivalents | 1 |
| 1 | |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2022 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €73,058 | - | €1,179 | - | €3,689 |
| Financial fixed assets | €0 | - | - | €28 | €4,228 |
| €5,143 | €1,029 | €1,383 | €1,230 | €654 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on TRANSFORMATIVE
The operating result for 2025 is 5% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total rises from 32.0% to 87.3%. Equity is lower and debt is higher.
Board & ownership
Board
1 director, since incorporationDirector
appointed by deed of 19-10-2020
term without a fixed end
listed in the 2025 annual accounts, filed on 30-07-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “b) Bestuur Het bestuursorgaan zal overeenkomstig artikel 5:73 van het wetboek van vennootschappen en verenigingen, alle handelingen…”deed of 19-10-2020
Mandates through the years
1 name, the dashed line is todayVASSART Gary Kevin Hong
Director
Director
Board
Mandates as a list
- VASSART Gary Kevin Hong
- Director, appointed by deed of 19-10-2020, still in office
Control
Capital
- Contribution
- €5,000
- Shares
- 100
- Contribution per share
- €50
- Equity per share
- €207 in 2025
- Source
- 2025 annual accounts
Articles of association
deed of 19-10-2020 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Thursday of June at 16:00
Shareholders
At incorporation
deed of 19-10-2020 ↗
- VASSART Gary Kevin Hong 100 shares (100%) · €20,000
Network & group
No group
TRANSFORMATIVE has no parent and no holdings in its annual accounts. VASSART Gary Kevin Hong is the only director. TRANSFORMATIVE shares no director with another company.
Timeline
Timeline
10 events since 2020Filings
Financial
Establishments
2020202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 1 day before the deadline
2025
Annual accounts 2024 filed PDFmicro format · 112 days before the deadline
2024
Back to profit net €72,821 The net result is €72,821, after one loss-making year.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0756639689
Annual accounts 2023 filed PDFmicro format · 21 days before the deadline
2023
Weakest financial year net -€35,332 The net result drops to -€35,332, the lowest from 2021 to 2025. It recovers the following year.
Annual accounts 2022 filed PDFmicro format · 7 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 20 days before the deadline
2020
IncorporationFounding capital of €20,000, 100 shares · Founder: VASSART Gary Kevin Hong · Appointment: VASSART Gary Kevin Hong (director) · published on 19-10-20206 points ▸
- Founding capital, €20,000, 100 shares
- VASSART Gary Kevin Hong holds 100 shares
- 100 shares
- Founder, VASSART Gary Kevin Hong
- Board rule, 1
- Director appointment, VASSART Gary Kevin Hong
- The deed holds 2 more points.
First establishment Albert I-laan 101, Vilvoorde
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
TRANSFORMATIVE was incorporated on 15 October 2020 as a private limited company by one natural person, with a starting capital of €20,000.12 VASSART Gary Kevin Hong is director of the company, appointed by deed of 19-10-2020.2 Total assets went from €158,047 in 2021 to €163,516 in 2025.3
Company details
Identity
- Enterprise number
- 0756.639.689
- VAT number
- BE 0756.639.689
- Peppol ID
- 0208:0756639689
- Other Peppol ID
- 9925:BE0756639689
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 15-10-2020
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Thursday of June at 16:00deed of 19-10-2020 (in Dutch)
- Peppol
- Reachable since 17-10-2024Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- TRANSFORMATIVE in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 19-10-2020 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 19-10-2020 (in Dutch)
Activities
NACEBEL 202562100
Computer programming main activity
Joint committees annual accounts 2022
JC 100
Auxiliary committee for blue-collar workers
JC 200
Auxiliary committee for white-collar workers
Codes under NACEBEL 2008
62010
Computer programming, consultancy and related activities main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Alle mogelijke advies- en/of dienstenfuncties op het vlak van IT consultancy; Consultancy,opleiding,technische expertise en bijstand op…”deed of 19-10-2020 (in Dutch)
3 activities
- Alle mogelijke advies- en/of dienstenfuncties op het vlak van IT consultancy
- Consultancy,opleiding,technische expertise en bijstand op voornoemd gebied
- Het geven van advies en verstrekken van diensten met betrekking tot de organisatie en het beheer van bedrijven die op die domeinen actief zijn,de vertegenwoordiging en het optreden als commercieel tussenpersoon
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Albert I-laan 101 registered office 1800 Vilvoorde | 15-10-2020 | 2.308.555.953 |
Buildings and parcels at the address
- Ground area
- 857 m²
- Buildings
- 117 m²
- Volume, LiDAR
- 610 m³
- Tallest building
- 8.3 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23645C0117/00T000 | 857 m² | 1 · 117 m² | 8.3 m · 2 |