VALUEACT
ActiveSummary
VALUEACT has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60k and a net result of €-4k. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 33% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▲+56
Solvency59▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity tight (current ratio 1.25 against 1.22 in 2024; short-term debt: 66.2% and cash: 63% of total assets), and 66.2% of the assets are financed with debt.
Credit check for your own amount and term
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 2025Solvency, return and age of the figures
Solvency
33.8%
Return on assets
-2.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-4k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
27 d late
2023
30 d late
2022
24 d late
2021
30 d late
2020
31 d late
2019
41 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€60k▼ 5.9%
2024 · €64k
2018: €55k
2019: €47k▼ -13.5% vs 2018
2020: €44k▼ -7.6% vs 2019lowest in 8 years
2021: €63k▲ +45.4% vs 2020
2022: €64k▲ +0.3% vs 2021
2023: €76k▲ +19.7% vs 2022highest in 8 years
2024: €64k▼ -16.3% vs 2023
2025: €60k▼ -5.9% vs 2024
2018 → 2025
Total assets
€178k▲ 5.9%
2024 · €168k
2018: €109k
2019: €62k▼ -43.2% vs 2018lowest in 8 years
2020: €93k▲ +50.0% vs 2019
2021: €108k▲ +16.3% vs 2020
2022: €152k▲ +41.0% vs 2021
2023: €223k▲ +46.9% vs 2022highest in 8 years
2024: €168k▼ -24.8% vs 2023
2025: €178k▲ +5.9% vs 2024
2018 → 2025
Net result
€-4k▲ 69.7%
2024 · €-12k
2018: €8k
2019: €-7k▼ -190% vs 2018
2020: €-4k▲ +51.7% vs 2019
2021: €20k▲ +655% vs 2020highest in 8 years
2022: €159▼ -99.2% vs 2021
2023: €13k▲ +7784% vs 2022
2024: €-12k▼ -199% vs 2023lowest in 8 years
2025: €-4k▲ +69.7% vs 2024
2018 → 2025
Working capital
€29k▲ 27.2%
2024 · €23k
2018: €32k
2019: €31k▼ -2.8% vs 2018
2020: €34k▲ +7.4% vs 2019
2021: €31k▼ -6.8% vs 2020
2022: €38k▲ +21.7% vs 2021highest in 8 years
2023: €26k▼ -32.5% vs 2022
2024: €23k▼ -11.3% vs 2023lowest in 8 years
2025: €29k▲ +27.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€63k-€64k▲ 0.3%€76k▲ 19.7%€64k▼ 16.3%€60k▼ 5.9%
2021: €63k
2022: €64k▲ +0.3% vs 2021
2023: €76k▲ +19.7% vs 2022highest in 5 years
2024: €64k▼ -16.3% vs 2023
2025: €60k▼ -5.9% vs 2024lowest in 5 years
Operating result€27k-€765▼ 97.1%€18k▲ 2,223%€-12k€-4k▲ 70.7%
2021: €27khighest in 5 years
2022: €765▼ -97.1% vs 2021
2023: €18k▲ +2223% vs 2022
2024: €-12k▼ -167% vs 2023lowest in 5 years
2025: €-4k▲ +70.7% vs 2024
Net result€20k-€159▼ 99.2%€13k▲ 7,784%€-12k€-4k▲ 69.7%
2021: €20khighest in 5 years
2022: €159▼ -99.2% vs 2021
2023: €13k▲ +7784% vs 2022
2024: €-12k▼ -199% vs 2023lowest in 5 years
2025: €-4k▲ +69.7% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4k in 2025 against €12k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €178k
Fixed assets
€31k ▼ 24.0%
Current assets
€147k ▲ 15.7%
Equity and liabilities €178k
Equity
€60k ▼ 5.9%
Debt
€118k ▲ 13.1%
Debt's share of the balance-sheet total rises from 62.0% to 66.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€6k▲
2024 · €-1k
Cash flow
€6k▲
2024 · €-2k
Current ratio
1.25▲
2024 · 1.22
Debt to equity
1.96▲
2024 · 1.63
ROE
-6.3%▲
2024 · -19.4%
ROA
-2.1%▲
2024 · -7.4%
Interest coverage
63.45▲
2024 · -10.63
Debt ≤ 1 year
€118k▲
2024 · €104k
Income taxes
€141▼
2024 · €279
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€168k€178k▲
Formation expenses20€265-
Fixed assets21/28€41k€31k▼
Tangible fixed assets22/27€41k€31k▼
Furniture and vehicles24€11k€5k▼
Other tangible fixed assets26€30k€26k▼
Current assets29/58€127k€147k▲
Amounts receivable within one year40/41€64k€32k▼
Trade receivables40€59k€28k▼
Other amounts receivable41€5k€4k▼
Cash at bank and in hand54/58€60k€112k▲
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€168k€178k▲
Equity10/15€64k€60k▼
Contributions10/11€14k€14k=
Reserves13€45k€45k=
Tax-exempt reserves132€12k€12k=
Distributable reserves133€32k€32k=
Profit (loss) carried forward14€5k€959▼
Amounts payable17/49€104k€118k▲
Amounts payable within one year42/48€104k€118k▲
Trade debts44€3k€5k▲
Suppliers440/4€3k€5k▲
Taxes, remuneration and social security45€12k€25k▲
Taxes450/3€5k€1k▼
Remuneration and social security454/9€7k€24k▲
Other amounts payable47/48€89k€88k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€10k▼
Other operating charges640/8€841€700▼
Gross operating margin9900€-445€7k▲
Operating profit (loss)9901€-12k€-4k▲
Financial charges65/66B€121€102▼
Recurring financial charges65€121€102▼
Profit (loss) for the period before taxes9903€-12k€-4k▲
Income taxes67/77€279€141▼
Profit (loss) for the period9904€-12k€-4k▲
Profit (loss) for the period to be appropriated9905€-12k€-4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€5k€959▼
Profit (loss) brought forward from the previous period14P€17k€5k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €8k | €11k | €11k | €10k | ▼ 6.7% |
| Other operating charges640/8 | €896 | €795 | €819 | €841 | €700 | ▼ 16.8% |
| Gross operating margin9900 | €34k | €9k | €30k | €-445 | €7k | ▲ 1,712% |
| Operating profit (loss)9901 | €27k | €765 | €18k | €-12k | €-4k | ▲ 70.7% |
| Financial income75/76B | - | - | €10 | - | - | - |
| Recurring financial income75 | - | - | €10 | - | - | - |
| Financial charges65/66B | €80 | €1 | €338 | €121 | €102 | ▼ 15.7% |
| Recurring financial charges65 | €80 | €1 | €338 | €121 | €102 | ▼ 15.7% |
| Profit (loss) for the period before taxes9903 | €26k | €764 | €17k | €-12k | €-4k | ▲ 70.1% |
| Income taxes67/77 | €7k | €605 | €5k | €279 | €141 | ▼ 49.5% |
| Profit (loss) for the period9904 | €20k | €159 | €13k | €-12k | €-4k | ▲ 69.7% |
| Profit (loss) for the period to be appropriated9905 | €20k | €159 | €13k | €-12k | €-4k | ▲ 69.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €108k | €152k | €223k | €168k | €178k | ▲ 5.9% |
| Formation expenses20 | - | - | - | €265 | - | - |
| Fixed assets21/28 | €32k | €25k | €50k | €41k | €31k | ▼ 24.0% |
| Tangible fixed assets22/27 | €32k | €25k | €50k | €41k | €31k | ▼ 24.0% |
| Furniture and vehicles24 | €28k | €22k | €16k | €11k | €5k | ▼ 54.4% |
| Other tangible fixed assets26 | €4k | €3k | €34k | €30k | €26k | ▼ 13.2% |
| Current assets29/58 | €76k | €127k | €173k | €127k | €147k | ▲ 15.7% |
| Amounts receivable within one year40/41 | €53k | €87k | €86k | €64k | €32k | ▼ 50.4% |
| Trade receivables40 | €53k | €87k | €86k | €59k | €28k | ▼ 53.6% |
| Other amounts receivable41 | - | - | - | €5k | €4k | ▼ 12.4% |
| Cash at bank and in hand54/58 | €22k | €36k | €84k | €60k | €112k | ▲ 87.5% |
| Deferred charges and accrued income490/1 | - | €3k | €3k | €3k | €3k | ▲ 4.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €108k | €152k | €223k | €168k | €178k | ▲ 5.9% |
| Equity10/15 | €63k | €64k | €76k | €64k | €60k | ▼ 5.9% |
| Contributions10/11 | €12k | €12k | €12k | €14k | €14k | = |
| Reserves13 | €34k | €34k | €47k | €45k | €45k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | €12k | €12k | €12k | €12k | €12k | = |
| Distributable reserves133 | €20k | €20k | €32k | €32k | €32k | = |
| Profit (loss) carried forward14 | €17k | €17k | €17k | €5k | €959 | ▼ 79.7% |
| Amounts payable17/49 | €44k | €88k | €147k | €104k | €118k | ▲ 13.1% |
| Amounts payable within one year42/48 | €44k | €88k | €147k | €104k | €118k | ▲ 13.1% |
| Trade debts44 | €15k | €37k | €76k | €3k | €5k | ▲ 84.5% |
| Suppliers440/4 | €15k | €37k | €76k | €3k | €5k | ▲ 84.5% |
| Taxes, remuneration and social security45 | €10k | €10k | €15k | €12k | €25k | ▲ 103% |
| Taxes450/3 | €10k | €10k | €7k | €5k | €1k | ▼ 77.7% |
| Remuneration and social security454/9 | - | - | €7k | €7k | €24k | ▲ 233% |
| Other amounts payable47/48 | €19k | €42k | €56k | €89k | €88k | ▼ 1.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20k | €159 | €13k | €-12k | €-4k | ▲ 69.7% |
| + Depreciation and write-downs630 | €7k | €8k | €11k | €11k | €10k | ▼ 6.7% |
| Operating cash flow (approximation) | €26k | €8k | €24k | €-2k | €6k | ▲ 469% |
| Investment in fixed assets (approximation) | - | €-1k | €-36k | €-977 | €-264 | ▲ 73.0% |
| Change in cash | - | €14k | €48k | €-24k | €52k | ▲ 314% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €-12k
Net result drops to €-12k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €20k
Net result €20k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 41 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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, Oudergem · 1 establishment unit since 2009
Ground area
445 m²
Building footprint
64 m²
Volume, LiDAR
581 m³
Parcel 21332E0033/00V070, Brussels · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Eugène Denisstraat 12, 1160 Oudergem
since 20092.182.031.133
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332E0033/00V070 | Brussels | 445 m² | 1 · 64 m² | 10.7 m · 3 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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,026 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
Founded13-10-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
46190Agents in non-specialised wholesale trade
62900Other information technology and computer services
Scores and ratios are computed by Checked and are not a credit decision.