COSTIMULUS
ActiveSummary
COSTIMULUS has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €17k and a net result of €4k. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 68% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability93▼-7
Solvency99▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 3.76 against 3.61 in 2023; short-term debt: 25.9% and cash: 76.3% of total assets), and 25.9% of the assets are financed with debt.
Credit check for your own amount and term
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 →
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 2024Solvency, return and age of the figures
Solvency
74.1%
Return on assets
19.1%
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 29-07-2025, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
2 d early
2023
31 d late
2022
6 d late
2021
12 d early
2020
18 d late
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€17k▲ 7.0%
2023 · €16k
2018: €21k
2019: €22k▲ +4.5% vs 2018highest in 7 years
2020: €19k▼ -12.2% vs 2019
2021: €16k▼ -16.5% vs 2020
2022: €19k▲ +18.1% vs 2021
2023: €16k▼ -18.1% vs 2022lowest in 7 years
2024: €17k▲ +7.0% vs 2023
2018 → 2024
Total assets
€23k▲ 6.0%
2023 · €21k
2018: €37khighest in 7 years
2019: €30k▼ -18.5% vs 2018
2020: €28k▼ -5.9% vs 2019
2021: €19k▼ -31.4% vs 2020lowest in 7 years
2022: €22k▲ +11.4% vs 2021
2023: €21k▼ -0.9% vs 2022
2024: €23k▲ +6.0% vs 2023
2018 → 2024
Net result
€4k▼ 32.5%
2023 · €6k
2018: €3k
2019: €942▼ -70.6% vs 2018
2020: €-3k▼ -385% vs 2019
2021: €-3k▼ -18.6% vs 2020lowest in 7 years
2022: €3k▲ +192% vs 2021
2023: €6k▲ +118% vs 2022highest in 7 years
2024: €4k▼ -32.5% vs 2023
2018 → 2024
Working capital
€16k▲ 8.8%
2023 · €15k
2018: €15k
2019: €17k▲ +14.0% vs 2018
2020: €16k▼ -8.4% vs 2019
2021: €16k▼ -0.3% vs 2020
2022: €18k▲ +13.9% vs 2021highest in 7 years
2023: €15k▼ -17.4% vs 2022lowest in 7 years
2024: €16k▲ +8.8% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€19k-€16k▼ 16.5%€19k▲ 18.1%€16k▼ 18.1%€17k▲ 7.0%
2020: €19khighest in 5 years
2021: €16k▼ -16.5% vs 2020
2022: €19k▲ +18.1% vs 2021
2023: €16k▼ -18.1% vs 2022lowest in 5 years
2024: €17k▲ +7.0% vs 2023
Operating result€-2k-€-4k▼ 115%€4k€9k▲ 123%€7k▼ 27.5%
2020: €-2k
2021: €-4k▼ -115% vs 2020lowest in 5 years
2022: €4k▲ +203% vs 2021
2023: €9k▲ +123% vs 2022highest in 5 years
2024: €7k▼ -27.5% vs 2023
Net result€-3k-€-3k▼ 18.6%€3k€6k▲ 118%€4k▼ 32.5%
2020: €-3k
2021: €-3k▼ -18.6% vs 2020lowest in 5 years
2022: €3k▲ +192% vs 2021
2023: €6k▲ +118% vs 2022highest in 5 years
2024: €4k▼ -32.5% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 27% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €23k
Fixed assets
€592 ▼ 25.2%
Current assets
€22k ▲ 7.2%
Equity and liabilities €23k
Equity
€17k ▲ 7.0%
Debt
€6k ▲ 3.2%
Debt's share of the balance-sheet total falls from 26.6% to 25.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€7k▼
2023 · €10k
Cash flow
€5k▼
2023 · €7k
Current ratio
3.76▲
2023 · 3.61
Debt to equity
0.35▼
2023 · 0.36
ROE
25.7%▼
2023 · 40.8%
ROA
19.1%▼
2023 · 29.9%
Interest coverage
39.12▼
2023 · 85.86
Debt ≤ 1 year
€6k▲
2023 · €6k
Income taxes
€2k▼
2023 · €3k
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 · 2024 against 2023 · 53 lines
Balance sheet
Code20232024
Assets
Total assets20/58€21k€23k▲
Fixed assets21/28€792€592▼
Tangible fixed assets22/27€792€592▼
Furniture and vehicles24€792€592▼
Current assets29/58€21k€22k▲
Amounts receivable after more than one year29€1k€1k▲
Other amounts receivable291€1k€1k▲
Amounts receivable within one year40/41€779€2k▲
Trade receivables40€779€2k▲
Other amounts receivable41-€1
Cash at bank and in hand54/58€17k€17k▲
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€21k€23k▲
Equity10/15€16k€17k▲
Contributions10/11€6k€6k=
Capital10€6k-
Issued capital100€19k-
Uncalled capital101€12k-
Reserves13€9k€11k▲
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k-
Reserves not available under the articles1311-€0
Other1319-€2k
Distributable reserves133€8k€9k▲
Profit (loss) carried forward14-€0
Amounts payable17/49€6k€6k▲
Amounts payable within one year42/48€6k€6k▲
Financial debts43€19€19▲
Credit institutions430/8€19€19▲
Trade debts44€461€711▲
Suppliers440/4€461€711▲
Taxes, remuneration and social security45€5k€2k▼
Taxes450/3€5k€2k▼
Other amounts payable47/48€453€3k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€316€200▼
Other operating charges640/8€785€812▲
Gross operating margin9900€11k€8k▼
Operating profit (loss)9901€9k€7k▼
Financial income75/76B€229€49▼
Recurring financial income75€229€49▼
Financial charges65/66B€114€180▲
Recurring financial charges65€114€180▲
Profit (loss) for the period before taxes9903€10k€7k▼
Income taxes67/77€3k€2k▼
Profit (loss) for the period9904€6k€4k▼
Profit (loss) for the period to be appropriated9905€6k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€4k€4k▼
Profit (loss) brought forward from the previous period14P€-2k€0▲
Transfer from equity791/2€10k€3k▼
Transfer to equity691/2€4k€4k▼
To other reserves6921€4k€4k▼
Profit to be distributed694/7€10k€3k▼
Return on contributions (dividend)694€10k€3k▼
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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €4k | €274 | €316 | €200 | ▼ 36.8% |
| Other operating charges640/8 | - | €399 | €717 | €785 | €812 | ▲ 3.4% |
| Gross operating margin9900 | €3k | €78 | €5k | €11k | €8k | ▼ 25.5% |
| Operating profit (loss)9901 | €-2k | €-4k | €4k | €9k | €7k | ▼ 27.5% |
| Financial income75/76B | - | €811 | €389 | €229 | €49 | ▼ 78.4% |
| Recurring financial income75 | €0 | €811 | €389 | €229 | €49 | ▼ 78.4% |
| Financial charges65/66B | - | €-218 | €237 | €114 | €180 | ▲ 58.5% |
| Recurring financial charges65 | €637 | €-218 | €237 | €114 | €180 | ▲ 58.5% |
| Profit (loss) for the period before taxes9903 | €-3k | €-3k | €4k | €10k | €7k | ▼ 29.7% |
| Income taxes67/77 | €138 | €117 | €1k | €3k | €2k | ▼ 24.2% |
| Profit (loss) for the period9904 | €-3k | €-3k | €3k | €6k | €4k | ▼ 32.5% |
| Profit (loss) for the period to be appropriated9905 | €-3k | €-3k | €3k | €6k | €4k | ▼ 32.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28k | €19k | €22k | €21k | €23k | ▲ 6.0% |
| Fixed assets21/28 | €4k | €383 | €1k | €792 | €592 | ▼ 25.2% |
| Intangible fixed assets21 | €917 | €383 | €117 | - | - | - |
| Tangible fixed assets22/27 | €3k | - | €992 | €792 | €592 | ▼ 25.2% |
| Furniture and vehicles24 | - | - | €992 | €792 | €592 | ▼ 25.2% |
| Current assets29/58 | €24k | €19k | €20k | €21k | €22k | ▲ 7.2% |
| Amounts receivable after more than one year29 | - | €10k | €10k | €1k | €1k | ▲ 4.0% |
| Other amounts receivable291 | - | €10k | €10k | €1k | €1k | ▲ 4.0% |
| Amounts receivable within one year40/41 | €5k | €2k | €477 | €779 | €2k | ▲ 133% |
| Trade receivables40 | - | €2k | €376 | €779 | €2k | ▲ 133% |
| Other amounts receivable41 | - | €245 | €100 | - | €1 | - |
| Cash at bank and in hand54/58 | €7k | €5k | €8k | €17k | €17k | ▲ 4.1% |
| Deferred charges and accrued income490/1 | - | €2k | €2k | €2k | €2k | ▼ 14.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28k | €19k | €22k | €21k | €23k | ▲ 6.0% |
| Equity10/15 | €19k | €16k | €19k | €16k | €17k | ▲ 7.0% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Capital10 | - | €6k | €6k | €6k | - | - |
| Issued capital100 | - | €19k | €19k | €19k | - | - |
| Uncalled capital101 | - | €12k | €12k | €12k | - | - |
| Reserves13 | €15k | €15k | €15k | €9k | €11k | ▲ 11.7% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | - | €2k | €2k | €2k | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €0 | - |
| Other1319 | - | - | - | - | €2k | - |
| Distributable reserves133 | - | €13k | €13k | €8k | €9k | ▲ 14.5% |
| Profit (loss) carried forward14 | €-2k | €-5k | €-2k | - | €0 | - |
| Amounts payable17/49 | €9k | €3k | €2k | €6k | €6k | ▲ 3.2% |
| Amounts payable after more than one year17 | €253 | - | - | - | - | - |
| Amounts payable within one year42/48 | €8k | €3k | €2k | €6k | €6k | ▲ 3.2% |
| Current portion of amounts payable after more than one year42 | - | €253 | - | - | - | - |
| Financial debts43 | - | - | - | €19 | €19 | ▲ 1.8% |
| Credit institutions430/8 | - | - | - | €19 | €19 | ▲ 1.8% |
| Trade debts44 | €530 | €2k | €361 | €461 | €711 | ▲ 54.2% |
| Suppliers440/4 | - | €2k | €361 | €461 | €711 | ▲ 54.2% |
| Taxes, remuneration and social security45 | - | €257 | €2k | €5k | €2k | ▼ 61.2% |
| Taxes450/3 | - | €257 | €2k | €5k | €2k | ▼ 61.2% |
| Other amounts payable47/48 | - | €325 | - | €453 | €3k | ▲ 626% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3k | €-3k | €3k | €6k | €4k | ▼ 32.5% |
| + Depreciation and write-downs630 | €5k | €4k | €274 | €316 | €200 | ▼ 36.8% |
| Operating cash flow (approximation) | €2k | €590 | €3k | €7k | €5k | ▼ 32.7% |
| Investment in fixed assets (approximation) | - | €0 | €-999 | €0 | €0 | - |
| Change in cash | - | €-2k | €4k | €8k | €682 | ▼ 91.8% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Highest result since 2018net €6k ▲118%
Operating result €9k, net result €6k, both a record.
06-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 6 days late
2022
31-12
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 6.01
Current ratio from 2.94 to 6.01; short-term debt falls from €8k to €3k.
18-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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, Antwerpen · 1 establishment unit since 2009
Ground area
374 m²
Building footprint
204 m²
Volume, LiDAR
2,199 m³
Parcel 11342A0334/00W002, Flanders · tallest building 14.3 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
COSTIMULUS
since 20092.179.077.383
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11342A0334/00W002 | Flanders | 374 m² | 1 · 204 m² | 14.3 m · 4 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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 113 EUR awarded · 113 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 113 EUR | 113 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 28,650 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
Founded07-04-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
Website
www.costimulus.be
Phone
0470/870 444
E-mail
karine.vanderlooven@telenet.beAntwerpen
Phone
032481457Antwerpen
Scores and ratios are computed by Checked and are not a credit decision.