X-PECT
ActiveSummary
X-PECT has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €77,600 and a net result of €35,269. Equity has been growing by about 77% per year since 2023. Its solvency ranks better than 62% of 1,683 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 11-08-2023 Normal situation
- Activity
- Computer consultancy and computer facilities management NACE 62200
- Establishment unit
- 2.348.331.101 1421 Braine-l'Alleud, since 11-08-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 04-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts 2025
- Gross margin
- €62,256
- ▼ 21.5%
- Turnover
- ≈ €160,000
- estimated
- Profit
- €35,269
- ▼ 33.5%
- Equity
- €77,600
- ▲ 73.1%
- Total assets
- €152,438
- ▲ 11.0%
Score breakdownraises riskFounded in 2023lowers riskSector: Computer programming, consultancy and related activities (NACE 62)Liquidity: current ratio 2.14, cash €81,649Size: total assets €152,438Show the evidence
Checked score
Score 2025
96
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 66% of micro companies in computer programming and consultancy (NACE 62)
Financial strength · tick: 2024
Strong
Solvency
76+18
equity 50.9% of total assets
Liquidity
87+6
short-term debt 31.1% · cash 53.6%
Profitability
98-2
return on assets 23.1%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
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%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025highest value
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 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: < 0.1%▼ -0.1 percentage points vs 04-2026lowest value
06-2026: < 0.1%● unchanged vs 05-2026lowest value
07-2026: < 0.1%● unchanged vs 06-2026lowest value
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Credit of up to €7,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.14 (1.33 in 2024), above the usual 1.5. Short-term debt is 31.1% and cash 53.6% of total assets. 49.1% of the assets are financed with debt and provisions.
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 44% of them on solvency, 72% on liquidity, 62% on profitability and 85% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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
Five signals.
lowers riskraises riskneutral
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 10-04-2026, 112 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
112 days early
2024
21 days late
2023
13 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 26 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 14 August (3 of the last 3 accounts filed within 126 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 10-04-2026 PDF all 3 filings
Turnover
≈ €160,000
Estimated: probably between €120,000 and €280,000
EBIT margin
Not included in this filing
Net result
€35,269▼ 33.5%
2024 · €53,038
Working capital
€53,885▲ 191%
2024 · €18,514
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€46,145
▼ 37.5%
2025
20232025
Net result
€35,269
▼ 33.5%
2025
middle half of the sector
20232025
Equity
€77,600
▲ 73.1%
2025
middle half of the sector
20232025
Total assets
€152,438
▲ 11.0%
2025
lowest quarter of the sector
20232025
Debt
€74,838
▼ 19.1%
2025
20232025
Working capital
€53,885
▲ 191%
2025
middle half of the sector
20232025
Solvency
50.9%
▲ 18.3pp
2025
middle half of the sector
20232025
Current ratio
2.14
▲ 0.80
2025
middle half of the sector
20232025
Return on assets (ROA)
23.1%
▼ 15.5pp
2025
highest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€9,286-€73,841▲ 695%€46,145▼ 37.5%
Net result€7,269within the sector's middle half-€53,038within the sector's middle half▲ 630%€35,269within the sector's middle half▼ 33.5%
Equity€8,936below the sector's middle half-€44,831below the sector's middle half▲ 402%€77,600within the sector's middle half▲ 73.1%
Total assets€14,823below the sector's middle half-€137,289below the sector's middle half▲ 826%€152,438below the sector's middle half▲ 11.0%
Debt€5,887-€92,458▲ 16×€74,838▼ 19.1%
Working capital€8,452within the sector's middle half-€18,514within the sector's middle half▲ 119%€53,885within the sector's middle half▲ 191%
Solvency60.3%within the sector's middle half-32.7%within the sector's middle half▼ 27.6pp50.9%within the sector's middle half▲ 18.3pp
Current ratio2.44within the sector's middle half-1.33within the sector's middle half▼ 1.102.14within the sector's middle half▲ 0.80
Return on assets (ROA)49.0%above the sector's middle half-38.6%above the sector's middle half▼ 10.4pp23.1%above the sector's middle half▼ 15.5pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 38% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €152,438
Fixed assets
€51,219 ▼ 19.0%
Current assets
€101,219 ▲ 36.7%
Equity and liabilities €152,438
Equity
€77,600 ▲ 73.1%
Debt
€74,838 ▼ 19.1%
Debt's share of the balance-sheet total falls from 67.3% to 49.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€60,064▼
2024 · €76,712
Cash flow
€49,188▼
2024 · €55,909
Debt to equity
0.96▼
2024 · 2.06
ROE
45.4%▼
2024 · 118.3%
Interest coverage
37.04▼
2024 · over 100
Debt ≤ 1 year
€47,334▼
2024 · €55,522
Debt > 1 year
€27,504▼
2024 · €36,936
Income taxes
€9,420▼
2024 · €20,217
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €575 | €65,640 | €2,328 |
| Depreciation and write-downs of the year | €90 | €2,871 | €13,919 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €90 | €2,871 | €13,919 | ▲ 385% |
| Other operating charges640/8 | €384 | €2,550 | €1,749 | ▼ 31.4% |
| Non-recurring operating charges66A | - | - | €443 | - |
| Gross operating margin9900 | €9,761 | €79,262 | €62,256 | ▼ 21.5% |
| Operating profit (loss)9901 | €9,286 | €73,841 | €46,145 | ▼ 37.5% |
| Financial income75/76B | €1 | €60 | €165 | ▲ 173% |
| Recurring financial income75 | €1 | €60 | €165 | ▲ 173% |
| Financial charges65/66B | €22 | €647 | €1,622 | ▲ 151% |
| Recurring financial charges65 | €22 | €647 | €1,622 | ▲ 151% |
| Profit (loss) for the period before taxes9903 | €9,265 | €73,255 | €44,689 | ▼ 39.0% |
| Income taxes67/77 | €1,996 | €20,217 | €9,420 | ▼ 53.4% |
| Profit (loss) for the period9904 | €7,269 | €53,038 | €35,269 | ▼ 33.5% |
| Profit (loss) for the period to be appropriated9905 | €7,269 | €53,038 | €35,269 | ▼ 33.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €14,823 | €137,289 | €152,438 | ▲ 11.0% |
| Fixed assets21/28 | €485 | €63,254 | €51,219 | ▼ 19.0% |
| Tangible fixed assets22/27 | €485 | €63,254 | €51,219 | ▼ 19.0% |
| Plant, machinery and equipment23 | - | €1,859 | €1,481 | ▼ 20.3% |
| Furniture and vehicles24 | €485 | €2,186 | €2,786 | ▲ 27.5% |
| Leasing and similar rights25 | - | €59,209 | €46,952 | ▼ 20.7% |
| Current assets29/58 | €14,338 | €74,035 | €101,219 | ▲ 36.7% |
| Amounts receivable within one year40/41 | €9,754 | €15,949 | €19,323 | ▲ 21.2% |
| Trade receivables40 | €9,754 | €15,040 | €14,239 | ▼ 5.3% |
| Other amounts receivable41 | - | €909 | €5,084 | ▲ 459% |
| Cash at bank and in hand54/58 | €4,584 | €57,848 | €81,649 | ▲ 41.1% |
| Deferred charges and accrued income490/1 | - | €239 | €247 | ▲ 3.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €14,823 | €137,289 | €152,438 | ▲ 11.0% |
| Equity10/15 | €8,936 | €44,831 | €77,600 | ▲ 73.1% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €6,436 | €42,331 | €75,100 | ▲ 77.4% |
| Distributable reserves133 | €6,436 | €42,331 | €75,100 | ▲ 77.4% |
| Amounts payable17/49 | €5,887 | €92,458 | €74,838 | ▼ 19.1% |
| Amounts payable after more than one year17 | - | €36,936 | €27,504 | ▼ 25.5% |
| Financial debts170/4 | - | €36,936 | €27,504 | ▼ 25.5% |
| Amounts payable within one year42/48 | €5,887 | €55,522 | €47,334 | ▼ 14.7% |
| Current portion of amounts payable after more than one year42 | - | €9,143 | €9,432 | ▲ 3.2% |
| Financial debts43 | €0 | €0 | €0 | = |
| Credit institutions430/8 | €0 | €0 | €0 | = |
| Trade debts44 | €85 | €1,082 | €96 | ▼ 91.1% |
| Suppliers440/4 | €85 | €1,082 | €96 | ▼ 91.1% |
| Taxes, remuneration and social security45 | €4,969 | €28,153 | €35,306 | ▲ 25.4% |
| Taxes450/3 | €4,969 | €28,153 | €35,306 | ▲ 25.4% |
| Other amounts payable47/48 | €833 | €17,143 | €2,500 | ▼ 85.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,269 | €53,038 | €35,269 | ▼ 33.5% |
| + Depreciation and write-downs630 | €90 | €2,871 | €13,919 | ▲ 385% |
| Operating cash flow (approximation) | €7,360 | €55,909 | €49,188 | ▼ 12.0% |
| Investment in fixed assets (approximation) | - | -€65,640 | -€1,885 | ▲ 97.1% |
| Change in cash | - | €53,264 | €23,802 | ▼ 55.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as X-PECT has now. Two years later, 95.9% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.9%
was still going
2.3%
stopped otherwise
1.8%
went bankrupt
The bankruptcy probability of X-PECT itself is lower: < 0.1% within 12 months. It rests on far more data about X-PECT than the profile alone.
Test of the method
The method was tested on the 497,446 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 39,278 companies, not a prediction for X-PECT. 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.
Board & ownership
Directors
Directors
1 director, no change since 2023
SAUNIER Frédéric
Current
Director (not named in the articles) · since 13-08-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 10-04-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 16-08-2023Owners and capital
Shareholders
At incorporation
act of 16-08-2023 ↗
- SAUNIER Frédéric 501 shares (50.1%) · €1,252.50
- AGUEP A ANONG Abibettou 499 shares (49.9%) · €1,247.50
Capital transactions
Capital over time
- 16-08-2023 Incorporation · €2,500 · 1,000 shares
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant,moitié acquéreurs proportionnellement si plusieurs, toutes cessions entre vifs à titre onéreux ou gratuit,volontaires ou…”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 16-08-2023 (in French)
Network & group
X-PECT shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of X-PECT. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
10-04
full format · 112 days before the deadline
2025
21-08
full format · 21 days late
2024
31-12
Financial
Highest result from 2023 to 2025net €53,038 ▲630%
The operating result of €73,841 and the net result of €53,038 are both a record.
13-08
full format · 13 days late
2023
16-08
Gazette deed
IncorporationStarting capital €2,500 · Appointment: SAUNIER Frédéric (director) · Founder10 points ▸
Gazette deed
Incorporation
Starting capital €2,500 · Appointment: SAUNIER Frédéric (director) · Founder10 points ▸
- Incorporation, 10-08-2023
- Founding capital, €2,500
- Founder, SAUNIER Frédéric
- Founder, AGUEP A ANONG Abibettou
- Capital
- Registered office clause, “1421 Braine-l'Alleud (Ophain-Bois-Seigneur-Isaac),Campagne des Rites 32” (deed in French)
- Other provision, “admin@x-pect.be, site internet et adresse électronique” (deed in French)
- Board rule, 1
- Director appointment, SAUNIER Frédéric (director (not named in the articles))
- Pre-incorporation commitments, “takeover, tous engagements,obligations,activités au nom et pour compte société en formation” (deed in French)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
X-PECT in French
Enterprise number
0804.779.603
Legal form
Private limited company
Status
Active, normale toestand
Founded
11-08-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 16-08-2023 (in French)Registered office and establishments
Registered office
Campagne des Rites 32, 1421 Braine-l'Alleud, Belgium
Establishment unit
X-PECT, Campagne des Rites 32, 1421 Braine-l'Alleud since 11-08-2023 · unit number 2.348.331.101
Activities
NACEBEL 202562200
Computer consultancy and computer facilities management main activity
Codes under NACEBEL 2008
62020
IT consultancy main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 16-08-2023 (in French)
“La fourniture de toutes prestations,de conseils,de services et produits dans le domaine de l'informatique; La création et la gestion de…”
7 activities
- La fourniture de toutes prestations,de conseils,de services et produits dans le domaine de l'informatique
- La création et la gestion de centre de travaux à façon sur ordinateur et la fourniture de services correspondants,sur place ou à distance,l'élaboration et la fourniture de logiciels informatiques
- Conclure tout contrat d'études,de développement et de tous conseils dans le domaine de l'informatique
- L'étude,le traitement et l'enseignement dans le domaine informatique y compris la commercialisation et l'entretien de matériel et/ou produits informatiques et électroniques
- La réalisation et édition d'ouvrages et documentations sur l'informatique et toutes ses applications avec leur diffusion
- L'achat-vente,l'importation-exportation,la représentation,la distribution,la conception,la fabrication,la location,le leasing,l'entretien et la maintenance de tout matériel de bureautique,d'informatique et d'électronique ainsi que tous accessoires et fournitures qui s'y rapportent
- Le traitement de données,hébergement et activités connexes,conception,réalisation et exploitation de portails internet
Invoicing and payment
VAT number
BE 0804.779.603
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
1,757 m²
Building footprint
121 m²
Building volume
689 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25078A0706/00D004 | Wallonia | 1,757 m² | 1 · 121 m² | 8.2 m · 2 |