TREFI
ActiveSummary
TREFI has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €38,810 and a net result of €12,784. Equity is shrinking by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 29% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability82▲+82
Solvency57▲+13
Growth32=
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 2.84 against 1.93 in 2023; short-term debt: 26.1% and cash: 62% of total assets), but 67.5% 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+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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
32.5%
Return on assets
10.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-06-2025, 58 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
58 d early
2023
22 d early
2022
32 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€38,810▲ 49.1%
2023 · €26,026
Total assets
€119,455▼ 12.4%
2023 · €136,334
Net result
€12,784
2023 · -€20,970
Working capital
€57,381▲ 31.3%
2023 · €43,693
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
Line202220232024
Operating result€56,209--€20,109€14,583
Net result€42,996--€20,970€12,784
Equity€46,996-€26,026▼ 44.6%€38,810▲ 49.1%
Total assets€168,337-€136,334▼ 19.0%€119,455▼ 12.4%
Debt€79,841-€68,808▼ 13.8%€39,145▼ 43.1%
Working capital€68,923-€43,693▼ 36.6%€57,381▲ 31.3%
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 2024: €14,583 after a loss of €20,109 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €119,455
Fixed assets
€30,899 ▼ 32.0%
Current assets
€88,555 ▼ 2.6%
Equity and liabilities €119,455
Equity
€38,810 ▲ 49.1%
Provisions
€41,500 =
Debt
€39,145 ▼ 43.1%
Debt's share of the balance-sheet total falls from 50.5% to 32.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31,458▲
2023 · -€3,801
Cash flow
€29,659▲
2023 · -€4,662
Current ratio
2.84▲
2023 · 1.93
Quick ratio
2.44▲
2023 · 1.66
Debt to equity
1.01▼
2023 · 2.64
ROE
32.9%▲
2023 · -80.6%
ROA
10.7%▲
2023 · -15.4%
Interest coverage
61.71▲
2023 · -5.33
Debt ≤ 1 year
€31,174▼
2023 · €47,216
Debt > 1 year
€7,971▼
2023 · €21,592
Income taxes
€1,543▲
2023 · €172
Staff costs
€1,879▼
2023 · €2,016
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,275 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 0.4% 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 497,058 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 39,275 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 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €1,176 | €2,016 | €1,879 | ▼ 6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,481 | €16,308 | €16,875 | ▲ 3.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €41,500 | €0 | - | - |
| Other operating charges640/8 | €1,502 | €2,795 | €1,895 | ▼ 32.2% |
| Gross operating margin9900 | €111,868 | €1,010 | €35,232 | ▲ 3,389% |
| Operating profit (loss)9901 | €56,209 | -€20,109 | €14,583 | ▲ 173% |
| Financial income75/76B | €15 | €25 | €253 | ▲ 929% |
| Recurring financial income75 | €15 | €25 | €253 | ▲ 929% |
| Financial charges65/66B | €875 | €713 | €510 | ▼ 28.5% |
| Recurring financial charges65 | €875 | €713 | €510 | ▼ 28.5% |
| Profit (loss) for the period before taxes9903 | €55,348 | -€20,798 | €14,326 | ▲ 169% |
| Income taxes67/77 | €12,352 | €172 | €1,543 | ▲ 795% |
| Profit (loss) for the period9904 | €42,996 | -€20,970 | €12,784 | ▲ 161% |
| Profit (loss) for the period to be appropriated9905 | €42,996 | -€20,970 | €12,784 | ▲ 161% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €168,337 | €136,334 | €119,455 | ▼ 12.4% |
| Fixed assets21/28 | €54,575 | €45,425 | €30,899 | ▼ 32.0% |
| Tangible fixed assets22/27 | €54,575 | €45,425 | €28,549 | ▼ 37.1% |
| Plant, machinery and equipment23 | €1,538 | €1,177 | €817 | ▼ 30.6% |
| Furniture and vehicles24 | - | €4,929 | €3,794 | ▼ 23.0% |
| Leasing and similar rights25 | €45,388 | €31,994 | €18,599 | ▼ 41.9% |
| Other tangible fixed assets26 | €7,650 | €7,325 | €5,339 | ▼ 27.1% |
| Financial fixed assets28 | - | - | €2,350 | - |
| Current assets29/58 | €113,762 | €90,910 | €88,555 | ▼ 2.6% |
| Stocks and contracts in progress3 | - | €12,500 | €12,500 | = |
| Stocks30/36 | - | €12,500 | €12,500 | = |
| Amounts receivable within one year40/41 | €232 | €5,586 | €418 | ▼ 92.5% |
| Trade receivables40 | - | €4,538 | €0 | ▼ 100% |
| Other amounts receivable41 | €232 | €1,048 | €418 | ▼ 60.1% |
| Cash at bank and in hand54/58 | €112,545 | €70,842 | €74,107 | ▲ 4.6% |
| Deferred charges and accrued income490/1 | €985 | €1,982 | €1,531 | ▼ 22.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €168,337 | €136,334 | €119,455 | ▼ 12.4% |
| Equity10/15 | €46,996 | €26,026 | €38,810 | ▲ 49.1% |
| Contributions10/11 | €4,000 | €4,000 | €4,000 | = |
| Profit (loss) carried forward14 | €42,996 | €22,026 | €34,810 | ▲ 58.0% |
| Provisions and deferred taxes16 | €41,500 | €41,500 | €41,500 | = |
| Provisions for liabilities and charges160/5 | €41,500 | €41,500 | €41,500 | = |
| Other liabilities and charges164/5 | €41,500 | €41,500 | €41,500 | = |
| Amounts payable17/49 | €79,841 | €68,808 | €39,145 | ▼ 43.1% |
| Amounts payable after more than one year17 | €35,002 | €21,592 | €7,971 | ▼ 63.1% |
| Financial debts170/4 | €35,002 | €21,592 | €7,971 | ▼ 63.1% |
| Amounts payable within one year42/48 | €44,840 | €47,216 | €31,174 | ▼ 34.0% |
| Current portion of amounts payable after more than one year42 | €13,202 | €13,410 | €13,621 | ▲ 1.6% |
| Trade debts44 | €3,275 | €6,143 | €4,093 | ▼ 33.4% |
| Suppliers440/4 | €3,275 | €6,143 | €4,093 | ▼ 33.4% |
| Taxes, remuneration and social security45 | €28,363 | €27,664 | €13,460 | ▼ 51.3% |
| Taxes450/3 | €25,863 | €25,164 | €10,960 | ▼ 56.4% |
| Remuneration and social security454/9 | €2,500 | €2,500 | €2,500 | = |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,996 | -€20,970 | €12,784 | ▲ 161% |
| + Depreciation and write-downs630 | €11,481 | €16,308 | €16,875 | ▲ 3.5% |
| Operating cash flow (approximation) | €54,477 | -€4,662 | €29,659 | ▲ 736% |
| Investment in fixed assets (approximation) | - | -€7,157 | -€2,350 | ▲ 67.2% |
| Change in cash | - | -€41,702 | €3,265 | ▲ 108% |
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
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €12,784
Net result €12,784 after one loss-making year.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€20,970
Net result drops to -€20,970, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
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, Brugge · 1 establishment unit since 2022
Ground area
1,274 m²
Building footprint
208 m²
Volume, LiDAR
1,080 m³
Parcel 31027D0067/00D000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Jacob de Meyerestraat 10, 8200 Brugge
since 20222.330.156.863
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31027D0067/00D000 | Flanders | 1,274 m² | 1 · 208 m² | 9.5 m · 2 fl. |
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 82,642 companies in sector 70200 we hold annual accounts for 52,590. 36,493 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
Founded23-02-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
73300Public relations and communication consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0782525625
Also
9925:BE0782525625
Registered
27-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.