CONAC
ActiveSummary
CONAC has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.44M and a net result of €271k. Equity remains stable across the filed fiscal years (±2% per year). Its solvency ranks better than 43% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+1
Solvency69▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity ample (current ratio 1.67 against 1.72 in 2024; short-term debt: 53.9% and cash: 7.3% of total assets), but 55.5% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.5%
Return on assets
8.4%
Age of the figures
9 mo
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 22-05-2026, 70 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
70 d early
2024
66 d early
2023
76 d early
2022
76 d early
2021
76 d early
2020
75 d early
2019
86 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, abbreviated schema
Equity
€1.44M▲ 0.9%
2024 · €1.43M
2018: €1.56M
2020: €1.89Mhighest value
2021: €1.72M▼ -8.7% vs 2020
2022: €1.42M▼ -17.8% vs 2021lowest value
2023: €1.42M● +0.0% vs 2022
2024: €1.43M▲ +0.8% vs 2023
2025: €1.44M▲ +0.9% vs 2024
2018 → 2025
Total assets
€3.24M▼ 2.4%
2024 · €3.32M
2018: €2.24Mlowest value
2020: €2.59M
2021: €2.42M▼ -6.4% vs 2020
2022: €2.60M▲ +7.4% vs 2021
2023: €3.15M▲ +20.9% vs 2022
2024: €3.32M▲ +5.6% vs 2023highest value
2025: €3.24M▼ -2.4% vs 2024
2018 → 2025
Net result
€271k▲ 13.3%
2024 · €239k
2018: €122k
2020: €30k
2021: €-164k▼ -647% vs 2020
2022: €-306k▼ -86.6% vs 2021lowest value
2023: €236k▲ +177% vs 2022
2024: €239k▲ +1.1% vs 2023
2025: €271k▲ +13.3% vs 2024highest value
2018 → 2025
Working capital
€1.17M▼ 3.5%
2024 · €1.21M
2018: €1.14M
2020: €1.55Mhighest value
2021: €1.48M▼ -4.1% vs 2020
2022: €914k▼ -38.5% vs 2021lowest value
2023: €1.08M▲ +18.1% vs 2022
2024: €1.21M▲ +12.1% vs 2023
2025: €1.17M▼ -3.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.72M-€1.42M▼ 17.8%€1.42M=€1.43M▲ 0.8%€1.44M▲ 0.9%
2021: €1.72Mhighest in 5 years
2022: €1.42M▼ -17.8% vs 2021lowest in 5 years
2023: €1.42M● +0.0% vs 2022
2024: €1.43M▲ +0.8% vs 2023
2025: €1.44M▲ +0.9% vs 2024
Operating result€-160k-€-300k▼ 87.1%€259k€334k▲ 28.7%€380k▲ 13.8%
2021: €-160k
2022: €-300k▼ -87.1% vs 2021lowest in 5 years
2023: €259k▲ +186% vs 2022
2024: €334k▲ +28.7% vs 2023
2025: €380k▲ +13.8% vs 2024highest in 5 years
Net result€-164k-€-306k▼ 86.6%€236k€239k▲ 1.1%€271k▲ 13.3%
2021: €-164k
2022: €-306k▼ -86.6% vs 2021lowest in 5 years
2023: €236k▲ +177% vs 2022
2024: €239k▲ +1.1% vs 2023
2025: €271k▲ +13.3% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 14% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.24M
Fixed assets
€328k ▼ 26.1%
Current assets
€2.91M ▲ 1.2%
Equity and liabilities €3.24M
Equity
€1.44M ▲ 0.9%
Provisions
€53k ▼ 76.3%
Debt
€1.75M ▲ 4.6%
Debt's share of the balance-sheet total rises from 50.3% to 53.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€496k▲
2024 · €461k
Cash flow
€387k▲
2024 · €366k
Current ratio
1.67▼
2024 · 1.72
Debt to equity
1.21▲
2024 · 1.17
ROE
18.8%▲
2024 · 16.7%
ROA
8.4%▲
2024 · 7.2%
Interest coverage
45.68▲
2024 · 35.03
Debt ≤ 1 year
€1.75M▲
2024 · €1.67M
Income taxes
€103k▲
2024 · €98k
Staff costs
€3.69M▲
2024 · €3.43M
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 · 57 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.32M€3.24M▼
Fixed assets21/28€444k€328k▼
Intangible fixed assets21€141k€94k▼
Tangible fixed assets22/27€293k€224k▼
Plant, machinery and equipment23€32k€1k▼
Other tangible fixed assets26€261k€223k▼
Financial fixed assets28€10k€10k=
Current assets29/58€2.88M€2.91M▲
Amounts receivable within one year40/41€2.36M€1.89M▼
Trade receivables40€2.36M€1.89M▼
Current investments50/53€360k€666k▲
Cash at bank and in hand54/58€47k€236k▲
Deferred charges and accrued income490/1€113k€125k▲
Equity and liabilities
Total equity and liabilities10/49€3.32M€3.24M▼
Equity10/15€1.43M€1.44M▲
Contributions10/11€716k€716k=
Capital10€716k€716k=
Issued capital100€739k€739k=
Uncalled capital101€23k€23k=
Reserves13€61k€74k▲
Non-distributable reserves130/1€61k€74k▲
Legal reserve130€61k€74k▲
Profit (loss) carried forward14€651k€651k=
Provisions and deferred taxes16€224k€53k▼
Provisions for liabilities and charges160/5€224k€53k▼
Taxes161€224k€53k▼
Amounts payable17/49€1.67M€1.75M▲
Amounts payable within one year42/48€1.67M€1.75M▲
Trade debts44€839k€834k▼
Suppliers440/4€839k€834k▼
Taxes, remuneration and social security45€604k€655k▲
Taxes450/3€55k€79k▲
Remuneration and social security454/9€548k€577k▲
Other amounts payable47/48€227k€258k▲
Income statement
Code20242025
Remuneration, social security and pensions62€3.43M€3.69M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€127k€116k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€9k
Provisions for liabilities and charges: additions (uses and reversals)635/8€-5k€-171k▼
Other operating charges640/8€91k€154k▲
Gross operating margin9900€3.98M€4.17M▲
Operating profit (loss)9901€334k€380k▲
Financial income75/76B€16k€6k▼
Recurring financial income75€16k€6k▼
Financial charges65/66B€13k€13k▼
Recurring financial charges65€13k€11k▼
Non-recurring financial charges66B-€2k
Profit (loss) for the period before taxes9903€337k€374k▲
Income taxes67/77€98k€103k▲
Profit (loss) for the period9904€239k€271k▲
Profit (loss) for the period to be appropriated9905€239k€271k▲
Appropriation of the result
Profit (loss) to be appropriated9906€890k€922k▲
Profit (loss) brought forward from the previous period14P€651k€651k=
Transfer to equity691/2€12k€13k▲
To the legal reserve6920€12k€13k▲
Profit to be distributed694/7€227k€258k▲
Return on contributions (dividend)694€227k€258k▲
Social balance
Average headcount (FTE)908733.434.6▲
The notes to these accounts (10 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €2.60M | €2.89M | €3.20M | €3.43M | €3.69M | ▲ 7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €136k | €140k | €125k | €127k | €116k | ▼ 8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €9k | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €172k | €55k | €-5k | €-171k | ▼ 3,212% |
| Other operating charges640/8 | €103k | €117k | €100k | €91k | €154k | ▲ 68.5% |
| Gross operating margin9900 | €2.68M | €3.02M | €3.74M | €3.98M | €4.17M | ▲ 4.9% |
| Operating profit (loss)9901 | €-160k | €-300k | €259k | €334k | €380k | ▲ 13.8% |
| Financial income75/76B | €32 | €24 | €3k | €16k | €6k | ▼ 61.0% |
| Recurring financial income75 | €32 | €24 | €3k | €16k | €6k | ▼ 61.0% |
| Financial charges65/66B | €3k | €5k | €10k | €13k | €13k | ▼ 4.2% |
| Recurring financial charges65 | €3k | €5k | €10k | €13k | €11k | ▼ 17.5% |
| Non-recurring financial charges66B | - | - | - | - | €2k | - |
| Profit (loss) for the period before taxes9903 | €-164k | €-305k | €253k | €337k | €374k | ▲ 10.8% |
| Income taxes67/77 | €214 | €1k | €17k | €98k | €103k | ▲ 4.7% |
| Profit (loss) for the period9904 | €-164k | €-306k | €236k | €239k | €271k | ▲ 13.3% |
| Profit (loss) for the period to be appropriated9905 | €-164k | €-306k | €236k | €239k | €271k | ▲ 13.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.42M | €2.60M | €3.15M | €3.32M | €3.24M | ▼ 2.4% |
| Fixed assets21/28 | €239k | €675k | €567k | €444k | €328k | ▼ 26.1% |
| Intangible fixed assets21 | €31 | - | €187k | €141k | €94k | ▼ 33.1% |
| Tangible fixed assets22/27 | €238k | €665k | €370k | €293k | €224k | ▼ 23.6% |
| Plant, machinery and equipment23 | €138k | €93k | €62k | €32k | €1k | ▼ 96.1% |
| Furniture and vehicles24 | €60k | €21k | €11k | - | - | - |
| Other tangible fixed assets26 | €40k | €332k | €297k | €261k | €223k | ▼ 14.8% |
| Assets under construction and advance payments27 | - | €219k | - | - | - | - |
| Financial fixed assets28 | €1k | €10k | €10k | €10k | €10k | = |
| Current assets29/58 | €2.19M | €1.93M | €2.58M | €2.88M | €2.91M | ▲ 1.2% |
| Amounts receivable within one year40/41 | €1.55M | €1.74M | €1.62M | €2.36M | €1.89M | ▼ 20.0% |
| Trade receivables40 | €1.53M | €1.71M | €1.57M | €2.36M | €1.89M | ▼ 20.0% |
| Other amounts receivable41 | €24k | €23k | €56k | - | - | - |
| Current investments50/53 | - | - | €250k | €360k | €666k | ▲ 85.0% |
| Cash at bank and in hand54/58 | €586k | €142k | €596k | €47k | €236k | ▲ 401% |
| Deferred charges and accrued income490/1 | €48k | €51k | €109k | €113k | €125k | ▲ 11.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.42M | €2.60M | €3.15M | €3.32M | €3.24M | ▼ 2.4% |
| Equity10/15 | €1.72M | €1.42M | €1.42M | €1.43M | €1.44M | ▲ 0.9% |
| Contributions10/11 | €716k | €716k | €716k | €716k | €716k | = |
| Capital10 | €716k | €716k | €716k | €716k | €716k | = |
| Issued capital100 | €739k | €739k | €739k | €739k | €739k | = |
| Uncalled capital101 | €23k | €23k | €23k | €23k | €23k | = |
| Reserves13 | €37k | €37k | €49k | €61k | €74k | ▲ 20.7% |
| Non-distributable reserves130/1 | €37k | €37k | €49k | €61k | €74k | ▲ 20.7% |
| Legal reserve130 | €37k | €37k | €49k | €61k | €74k | ▲ 20.7% |
| Profit (loss) carried forward14 | €969k | €663k | €651k | €651k | €651k | = |
| Provisions and deferred taxes16 | - | €172k | €229k | €224k | €53k | ▼ 76.3% |
| Provisions for liabilities and charges160/5 | - | €172k | €229k | €224k | €53k | ▼ 76.3% |
| Taxes161 | - | €172k | €229k | €224k | €53k | ▼ 76.3% |
| Amounts payable17/49 | €702k | €1.02M | €1.50M | €1.67M | €1.75M | ▲ 4.6% |
| Amounts payable within one year42/48 | €701k | €1.02M | €1.50M | €1.67M | €1.75M | ▲ 4.6% |
| Financial debts43 | €56 | - | - | - | - | - |
| Credit institutions430/8 | €56 | - | - | - | - | - |
| Trade debts44 | €332k | €619k | €828k | €839k | €834k | ▼ 0.7% |
| Suppliers440/4 | €332k | €619k | €828k | €839k | €834k | ▼ 0.7% |
| Taxes, remuneration and social security45 | €359k | €395k | €436k | €604k | €655k | ▲ 8.6% |
| Taxes450/3 | €23k | €33k | €48k | €55k | €79k | ▲ 42.4% |
| Remuneration and social security454/9 | €336k | €362k | €388k | €548k | €577k | ▲ 5.2% |
| Other amounts payable47/48 | €10k | €1k | €236k | €227k | €258k | ▲ 13.7% |
| Accrued charges and deferred income492/3 | €700 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-164k | €-306k | €236k | €239k | €271k | ▲ 13.3% |
| + Depreciation and write-downs630 | €136k | €140k | €125k | €127k | €116k | ▼ 8.7% |
| Operating cash flow (approximation) | €-28k | €-166k | €362k | €366k | €387k | ▲ 5.7% |
| Investment in fixed assets (approximation) | - | €-575k | €-17k | €-4k | €0 | ▲ 100% |
| Change in cash | - | €-444k | €454k | €-549k | €189k | ▲ 134% |
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
22-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €271k ▲13.3%
Operating result €380k, net result €271k, both a record.
26-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
06-09
State Gazette act
General meeting · Permanent representative
Statutes amendment · Corporate purpose · Tim Carnewal
06-09
State Gazette act
General meeting · Permanent representative
Statutes amendment · Corporate purpose
16-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €236k
Net result €236k after 2 loss-making years.
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-306k
Net result drops to €-306k, the lowest in the series; recovery starts the following year.
16-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
17-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
20-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 22 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 26 acts read
About the unread acts
We know of 26 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
26 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, Brussel · 1 establishment unit since 1988
Ground area
1,147 m²
Building footprint
719 m²
Volume, LiDAR
13,068 m³
Parcel 21803C1358/00G000, Brussels · tallest building 26.1 m, ±6 floors. Linked by address, not a title deed.
16
companies at this address
See who is registered here
1 establishment unit
CONAC
since 19882.040.968.783
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21803C1358/00G000 | Brussels | 1,147 m² | 1 · 719 m² | 26.1 m · 6 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
699400ZJJPZM3ZZDN058
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 23,811 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded27-10-1988
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82100Office administrative and support services
Contact
Website
www.conac.be
E-mail
info@conac.be
Scores and ratios are computed by Checked and are not a credit decision.