B4E
ActiveSummary
B4E has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €252k and a net result of €-113k. Equity is growing by ~27.8% per year across the filed fiscal years. Its solvency ranks better than 31% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability5▼-80
Solvency55▼-10
Growth61▼-17
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity short (current ratio 0.94 against 1.85 in 2024; short-term debt: 19.4% and cash: 6.2% of total assets), and 69.5% of the assets are financed with debt.
Credit check for your own amount and term
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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 · 9 filingsDeviation from the deadline
2025
21 d late
2024
30 d late
2023
27 d late
2022
37 d late
2021
2 d late
2020
26 d late
2019
39 d early
← 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
Turnover
€422k▲ 19.0%
2020 · €355k
2019: €328klowest in 3 years
2020: €355k▲ +8.0% vs 2019
2021: €422k▲ +19.0% vs 2020highest in 3 years
2019 → 2021
EBIT margin
28.6%▲ 8.8pp
2020 · 19.7%
2019: 31.4%highest in 3 years
2020: 19.7%▼ -37.0% vs 2019lowest in 3 years
2021: 28.6%▲ +44.7% vs 2020
2019 → 2021
Net result
€-113k
2024 · €120k
2019: €70k
2020: €45k▼ -35.4% vs 2019
2021: €61k▲ +35.9% vs 2020
2022: €62k▲ +0.7% vs 2021
2023: €48k▼ -21.8% vs 2022
2024: €120k▲ +149% vs 2023highest in 7 years
2025: €-113k▼ -194% vs 2024lowest in 7 years
2019 → 2025
Working capital
€-9k
2024 · €81k
2019: €-128klowest in 7 years
2020: €-6k▲ +95.5% vs 2019
2021: €68k▲ +1281% vs 2020
2022: €132k▲ +95.3% vs 2021
2023: €197k▲ +48.4% vs 2022highest in 7 years
2024: €81k▼ -59.0% vs 2023
2025: €-9k▼ -111% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€422k-
Equity€136k-€197k▲ 45.4%€245k▲ 24.4%€365k▲ 48.8%€252k▼ 30.9%
2021: €136klowest in 5 years
2022: €197k▲ +45.4% vs 2021
2023: €245k▲ +24.4% vs 2022
2024: €365k▲ +48.8% vs 2023highest in 5 years
2025: €252k▼ -30.9% vs 2024
Operating result€121k-€96k▼ 20.7%€77k▼ 19.5%€180k▲ 134%€-31k
2021: €121k
2022: €96k▼ -20.7% vs 2021
2023: €77k▼ -19.5% vs 2022
2024: €180k▲ +134% vs 2023highest in 5 years
2025: €-31k▼ -117% vs 2024lowest in 5 years
Net result€61k-€62k▲ 0.7%€48k▼ 21.8%€120k▲ 149%€-113k
2021: €61k
2022: €62k▲ +0.7% vs 2021
2023: €48k▼ -21.8% vs 2022
2024: €120k▲ +149% vs 2023highest in 5 years
2025: €-113k▼ -194% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €31k after €180k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €828k
Fixed assets
€676k ▼ 7.6%
Current assets
€152k ▼ 13.3%
Equity and liabilities €828k
Equity
€252k ▼ 30.9%
Debt
€576k ▲ 6.3%
Debt's share of the balance-sheet total rises from 59.7% to 69.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€28k▼
2024 · €241k
Cash flow
€-54k▼
2024 · €181k
Current ratio
0.94▼
2024 · 1.85
Debt to equity
2.28▲
2024 · 1.48
ROE
-44.8%▼
2024 · 32.8%
ROA
-13.7%▼
2024 · 13.2%
Interest coverage
0.34▼
2024 · 82.77
Debt ≤ 1 year
€161k▲
2024 · €94k
Debt > 1 year
€415k▼
2024 · €447k
Income taxes
€489▼
2024 · €58k
Staff costs
€612
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 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€907k€828k▼
Fixed assets21/28€732k€676k▼
Tangible fixed assets22/27€450k€394k▼
Land and buildings22€422k€379k▼
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€24k€11k▼
Financial fixed assets28€282k€282k=
Current assets29/58€175k€152k▼
Amounts receivable within one year40/41€77k€100k▲
Trade receivables40€63k€75k▲
Other amounts receivable41€14k€25k▲
Cash at bank and in hand54/58€82k€51k▼
Deferred charges and accrued income490/1€15k€1k▼
Equity and liabilities
Total equity and liabilities10/49€907k€828k▼
Equity10/15€365k€252k▼
Contributions10/11€6k€6k=
Reserves13€288k€288k=
Non-distributable reserves130/1€3€3=
Reserves not available under the articles1311€3€3=
Distributable reserves133€288k€288k=
Profit (loss) carried forward14€71k€-42k▼
Amounts payable17/49€542k€576k▲
Amounts payable after more than one year17€447k€415k▼
Financial debts170/4€447k€415k▼
Amounts payable within one year42/48€94k€161k▲
Current portion of amounts payable after more than one year42€33k€35k▲
Trade debts44€4k€26k▲
Suppliers440/4€4k€26k▲
Taxes, remuneration and social security45€48k€33k▼
Taxes450/3€48k€33k▼
Other amounts payable47/48€10k€67k▲
Income statement
Code20242025
Remuneration, social security and pensions62-€612
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€61k€59k▼
Other operating charges640/8€10k€8k▼
Gross operating margin9900€251k€37k▼
Operating profit (loss)9901€180k€-31k▼
Financial income75/76B€2€6▲
Recurring financial income75€2€6▲
Financial charges65/66B€3k€81k▲
Recurring financial charges65€3k€81k▲
Profit (loss) for the period before taxes9903€177k€-113k▼
Income taxes67/77€58k€489▼
Profit (loss) for the period9904€120k€-113k▼
Profit (loss) for the period to be appropriated9905€120k€-113k▼
Appropriation of the result
Profit (loss) to be appropriated9906€191k€-42k▼
Profit (loss) brought forward from the previous period14P€71k€71k=
Transfer to equity691/2€120k-
To other reserves6921€120k-
The notes to these accounts (7 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €422k | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €269k | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €612 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52k | €58k | €60k | €61k | €59k | ▼ 3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €52k | - | - | - |
| Other operating charges640/8 | €7k | €21k | €8k | €10k | €8k | ▼ 14.2% |
| Gross operating margin9900 | €179k | €174k | €198k | €251k | €37k | ▼ 85.4% |
| Operating profit (loss)9901 | €121k | €96k | €77k | €180k | €-31k | ▼ 117% |
| Financial income75/76B | €2 | €16 | €1k | €2 | €6 | ▲ 305% |
| Recurring financial income75 | €2 | €16 | €21 | €2 | €6 | ▲ 305% |
| Non-recurring financial income76B | - | - | €989 | - | - | - |
| Financial charges65/66B | €17k | €9k | €10k | €3k | €81k | ▲ 2,680% |
| Recurring financial charges65 | €17k | €9k | €10k | €3k | €81k | ▲ 2,680% |
| Profit (loss) for the period before taxes9903 | €104k | €86k | €68k | €177k | €-113k | ▼ 163% |
| Income taxes67/77 | €43k | €25k | €20k | €58k | €489 | ▼ 99.1% |
| Profit (loss) for the period9904 | €61k | €62k | €48k | €120k | €-113k | ▼ 194% |
| Profit (loss) for the period to be appropriated9905 | €61k | €62k | €48k | €120k | €-113k | ▼ 194% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €867k | €920k | €880k | €907k | €828k | ▼ 8.7% |
| Fixed assets21/28 | €610k | €576k | €528k | €732k | €676k | ▼ 7.6% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €553k | €547k | €500k | €450k | €394k | ▼ 12.4% |
| Land and buildings22 | €536k | €507k | €464k | €422k | €379k | ▼ 10.1% |
| Plant, machinery and equipment23 | €9k | €8k | €6k | €5k | €3k | ▼ 24.9% |
| Furniture and vehicles24 | €8k | €33k | €30k | €24k | €11k | ▼ 51.7% |
| Financial fixed assets28 | €56k | €28k | €28k | €282k | €282k | = |
| Current assets29/58 | €258k | €344k | €352k | €175k | €152k | ▼ 13.3% |
| Amounts receivable within one year40/41 | €192k | €199k | €154k | €77k | €100k | ▲ 28.9% |
| Trade receivables40 | €192k | €192k | €143k | €63k | €75k | ▲ 19.1% |
| Other amounts receivable41 | €91 | €6k | €10k | €14k | €25k | ▲ 72.4% |
| Cash at bank and in hand54/58 | €57k | €136k | €188k | €82k | €51k | ▼ 38.0% |
| Deferred charges and accrued income490/1 | €9k | €10k | €11k | €15k | €1k | ▼ 92.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €867k | €920k | €880k | €907k | €828k | ▼ 8.7% |
| Equity10/15 | €136k | €197k | €245k | €365k | €252k | ▼ 30.9% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €60k | €120k | €168k | €288k | €288k | = |
| Non-distributable reserves130/1 | €3 | €3 | €3 | €3 | €3 | = |
| Reserves not available under the articles1311 | €3 | €3 | €3 | €3 | €3 | = |
| Tax-exempt reserves132 | €60k | - | - | - | - | - |
| Distributable reserves133 | - | €120k | €168k | €288k | €288k | = |
| Profit (loss) carried forward14 | €69k | €71k | €71k | €71k | €-42k | ▼ 159% |
| Amounts payable17/49 | €732k | €722k | €635k | €542k | €576k | ▲ 6.3% |
| Amounts payable after more than one year17 | €542k | €511k | €479k | €447k | €415k | ▼ 7.3% |
| Financial debts170/4 | €542k | €511k | €479k | €447k | €415k | ▼ 7.3% |
| Amounts payable within one year42/48 | €190k | €212k | €156k | €94k | €161k | ▲ 70.3% |
| Current portion of amounts payable after more than one year42 | €51k | €47k | €40k | €33k | €35k | ▲ 6.0% |
| Trade debts44 | €7k | €26k | €26k | €4k | €26k | ▲ 633% |
| Suppliers440/4 | €7k | €26k | €26k | €4k | €26k | ▲ 633% |
| Taxes, remuneration and social security45 | €57k | €63k | €37k | €48k | €33k | ▼ 30.9% |
| Taxes450/3 | €57k | €63k | €37k | €48k | €33k | ▼ 30.9% |
| Other amounts payable47/48 | €75k | €75k | €53k | €10k | €67k | ▲ 541% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61k | €62k | €48k | €120k | €-113k | ▼ 194% |
| + Depreciation and write-downs630 | €52k | €58k | €60k | €61k | €59k | ▼ 3.4% |
| Operating cash flow (approximation) | €113k | €119k | €109k | €181k | €-54k | ▼ 130% |
| Investment in fixed assets (approximation) | - | €-23k | €-13k | €-265k | €-3k | ▲ 98.7% |
| Change in cash | - | €79k | €52k | €-105k | €-31k | ▲ 70.2% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
31-12
Financial
Weakest financial yearnet €-113k
Net result drops to €-113k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2019net €120k ▲149%
Operating result €180k, net result €120k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Equity above €200kEq €245k ▲24.4%
5 profitable years in a row build equity to €245k.
06-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 37 days late
2022
31-12
Financial
Equity above €150kEq €197k ▲45.4%
4 profitable years in a row build equity to €197k.
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 2 days late
2021
31-12
Financial
Equity above €100kEq €136k ▲82.2%
3 profitable years in a row build equity to €136k.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · full 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, Waterloo · 1 establishment unit since 2015
Ground area
1,150 m²
Building footprint
171 m²
Volume, LiDAR
1,057 m³
Parcel 25110S0187/00C000, Wallonia · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
B4E
since 20152.245.383.219
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110S0187/00C000 | Wallonia | 1,150 m² | 1 · 171 m² | 8.3 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.
Recognitions · licences · registrations
Legal Entity Identifier
254900QCACSP4FTD0Y31
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 38,887 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)
Founded19-08-2015
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
71112Activities of interior architects
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.