EXCEPTION - EXCEPTION
ActiveSummary
EXCEPTION - EXCEPTION has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €657k and a net result of €171k. Equity is growing by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 76% of 2284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability93▲+1
Solvency98▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 3.48 against 2.94 in 2024; short-term debt: 25.9% and cash: 8.1% of total assets), and 26.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
73.4%
Return on assets
19.1%
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
28 d early
2023
33 d early
2022
8 d late
2021
19 d late
2020
25 d late
2019
21 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€171k▲ 6.5%
2024 · €160k
2018: €15k
2019: €50k▲ +230% vs 2018
2020: €-94k▼ -289% vs 2019lowest in 8 years
2021: €132k▲ +241% vs 2020
2022: €156k▲ +17.9% vs 2021
2023: €180k▲ +15.2% vs 2022highest in 8 years
2024: €160k▼ -10.8% vs 2023
2025: €171k▲ +6.5% vs 2024
2018 → 2025
Working capital
€573k▲ 14.2%
2024 · €501k
2018: €236k
2019: €302k▲ +27.7% vs 2018
2020: €202k▼ -33.1% vs 2019lowest in 8 years
2021: €394k▲ +95.0% vs 2020
2022: €432k▲ +9.8% vs 2021
2023: €490k▲ +13.4% vs 2022
2024: €501k▲ +2.2% vs 2023
2025: €573k▲ +14.2% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€416k-€450k▲ 8.2%€529k▲ 17.3%€587k▲ 11.1%€657k▲ 11.8%
2021: €416klowest in 5 years
2022: €450k▲ +8.2% vs 2021
2023: €529k▲ +17.3% vs 2022
2024: €587k▲ +11.1% vs 2023
2025: €657k▲ +11.8% vs 2024highest in 5 years
Operating result€135k-€213k▲ 57.1%€241k▲ 13.1%€207k▼ 13.9%€226k▲ 9.3%
2021: €135klowest in 5 years
2022: €213k▲ +57.1% vs 2021
2023: €241k▲ +13.1% vs 2022highest in 5 years
2024: €207k▼ -13.9% vs 2023
2025: €226k▲ +9.3% vs 2024
Net result€132k-€156k▲ 17.9%€180k▲ 15.2%€160k▼ 10.8%€171k▲ 6.5%
2021: €132klowest in 5 years
2022: €156k▲ +17.9% vs 2021
2023: €180k▲ +15.2% vs 2022highest in 5 years
2024: €160k▼ -10.8% vs 2023
2025: €171k▲ +6.5% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 9% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €894k
Fixed assets
€90k ▼ 2.2%
Current assets
€804k ▲ 5.9%
Equity and liabilities €894k
Equity
€657k ▲ 11.8%
Debt
€237k ▼ 10.1%
Debt's share of the balance-sheet total falls from 31.0% to 26.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€248k▲
2024 · €223k
Cash flow
€192k▲
2024 · €176k
Current ratio
3.48▲
2024 · 2.94
Debt to equity
0.36▼
2024 · 0.45
ROE
26.0%▼
2024 · 27.3%
ROA
19.1%▲
2024 · 18.8%
Interest coverage
198.55▲
2024 · 191.28
Debt ≤ 1 year
€231k▼
2024 · €258k
Income taxes
€60k▲
2024 · €56k
Staff costs
€900k▼
2024 · €977k
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 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€852k€894k▲
Fixed assets21/28€92k€90k▼
Intangible fixed assets21€27k€31k▲
Tangible fixed assets22/27€50k€40k▼
Furniture and vehicles24€43k€35k▼
Other tangible fixed assets26€7k€5k▼
Financial fixed assets28€15k€20k▲
Current assets29/58€759k€804k▲
Amounts receivable within one year40/41€370k€316k▼
Trade receivables40€362k€314k▼
Other amounts receivable41€7k€2k▼
Current investments50/53€315k€404k▲
Cash at bank and in hand54/58€66k€73k▲
Deferred charges and accrued income490/1€8k€11k▲
Equity and liabilities
Total equity and liabilities10/49€852k€894k▲
Equity10/15€587k€657k▲
Contributions10/11€19k€19k=
Reserves13€569k€638k▲
Tax-exempt reserves132€211€211=
Distributable reserves133€569k€638k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€264k€237k▼
Amounts payable within one year42/48€258k€231k▼
Trade debts44€7k€15k▲
Suppliers440/4€7k€15k▲
Taxes, remuneration and social security45€150k€116k▼
Taxes450/3€30k€26k▼
Remuneration and social security454/9€119k€90k▼
Other amounts payable47/48€101k€101k=
Accrued charges and deferred income492/3€6k€6k▲
Income statement
Code20242025
Remuneration, social security and pensions62€977k€900k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€22k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€4k€3k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€1.21M€1.15M▼
Operating profit (loss)9901€207k€226k▲
Financial income75/76B€11k€6k▼
Recurring financial income75€11k€6k▼
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€1k▲
Non-recurring financial charges66B-€533
Profit (loss) for the period before taxes9903€217k€230k▲
Income taxes67/77€56k€60k▲
Profit (loss) for the period9904€160k€171k▲
Profit (loss) for the period to be appropriated9905€160k€171k▲
Appropriation of the result
Profit (loss) to be appropriated9906€160k€171k▲
Transfer to equity691/2€59k€69k▲
To other reserves6921€59k€69k▲
Profit to be distributed694/7€101k€101k=
Return on contributions (dividend)694€101k€101k=
Social balance
Average headcount (FTE)908714.813.2▼
The notes to these accounts (12 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €134k | - | €8k | - | - | - |
| Remuneration, social security and pensions62 | €422k | €681k | €1.05M | €977k | €900k | ▼ 7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €13k | €5k | €16k | €22k | ▲ 36.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €4k | €3k | ▼ 26.5% |
| Other operating charges640/8 | €1k | €1k | €2k | €2k | €2k | ▲ 22.0% |
| Gross operating margin9900 | €574k | €908k | €1.30M | €1.21M | €1.15M | ▼ 4.4% |
| Operating profit (loss)9901 | €135k | €213k | €241k | €207k | €226k | ▲ 9.3% |
| Financial income75/76B | €130 | €146 | €676 | €11k | €6k | ▼ 46.9% |
| Recurring financial income75 | €130 | €146 | €676 | €11k | €6k | ▼ 46.9% |
| Financial charges65/66B | €2k | €2k | €1k | €1k | €2k | ▲ 53.0% |
| Recurring financial charges65 | €2k | €2k | €1k | €1k | €1k | ▲ 7.2% |
| Non-recurring financial charges66B | - | - | - | - | €533 | - |
| Profit (loss) for the period before taxes9903 | €133k | €210k | €240k | €217k | €230k | ▲ 6.3% |
| Income taxes67/77 | €817 | €55k | €61k | €56k | €60k | ▲ 5.9% |
| Profit (loss) for the period9904 | €132k | €156k | €180k | €160k | €171k | ▲ 6.5% |
| Profit (loss) for the period to be appropriated9905 | €132k | €156k | €180k | €160k | €171k | ▲ 6.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €597k | €819k | €781k | €852k | €894k | ▲ 5.0% |
| Fixed assets21/28 | €29k | €18k | €38k | €92k | €90k | ▼ 2.2% |
| Intangible fixed assets21 | €3k | €0 | €19k | €27k | €31k | ▲ 13.9% |
| Tangible fixed assets22/27 | €21k | €11k | €13k | €50k | €40k | ▼ 21.1% |
| Furniture and vehicles24 | €12k | €3k | €7k | €43k | €35k | ▼ 19.0% |
| Other tangible fixed assets26 | €9k | €8k | €6k | €7k | €5k | ▼ 33.5% |
| Financial fixed assets28 | €5k | €7k | €6k | €15k | €20k | ▲ 32.2% |
| Current assets29/58 | €568k | €801k | €743k | €759k | €804k | ▲ 5.9% |
| Amounts receivable within one year40/41 | €163k | €406k | €250k | €370k | €316k | ▼ 14.4% |
| Trade receivables40 | €163k | €406k | €230k | €362k | €314k | ▼ 13.3% |
| Other amounts receivable41 | €38 | - | €20k | €7k | €2k | ▼ 71.3% |
| Current investments50/53 | €253k | €153k | €279k | €315k | €404k | ▲ 28.2% |
| Cash at bank and in hand54/58 | €147k | €207k | €192k | €66k | €73k | ▲ 9.3% |
| Deferred charges and accrued income490/1 | €6k | €36k | €22k | €8k | €11k | ▲ 33.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €597k | €819k | €781k | €852k | €894k | ▲ 5.0% |
| Equity10/15 | €416k | €450k | €529k | €587k | €657k | ▲ 11.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €397k | €431k | €510k | €569k | €638k | ▲ 12.2% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €211 | €211 | €211 | €211 | €211 | = |
| Distributable reserves133 | €395k | €429k | €510k | €569k | €638k | ▲ 12.2% |
| Profit (loss) carried forward14 | €701 | €803 | €0 | €0 | - | - |
| Amounts payable17/49 | €181k | €368k | €253k | €264k | €237k | ▼ 10.1% |
| Amounts payable within one year42/48 | €175k | €368k | €253k | €258k | €231k | ▼ 10.4% |
| Trade debts44 | €45k | €16k | €21k | €7k | €15k | ▲ 100% |
| Suppliers440/4 | €45k | €16k | €21k | €7k | €15k | ▲ 100% |
| Taxes, remuneration and social security45 | €78k | €181k | €131k | €150k | €116k | ▼ 22.8% |
| Taxes450/3 | €31k | €81k | €27k | €30k | €26k | ▼ 14.9% |
| Remuneration and social security454/9 | €47k | €100k | €103k | €119k | €90k | ▼ 24.9% |
| Other amounts payable47/48 | €52k | €172k | €101k | €101k | €101k | = |
| Accrued charges and deferred income492/3 | €6k | - | - | €6k | €6k | ▲ 2.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €132k | €156k | €180k | €160k | €171k | ▲ 6.5% |
| + Depreciation and write-downs630 | €15k | €13k | €5k | €16k | €22k | ▲ 36.9% |
| Operating cash flow (approximation) | €148k | €169k | €184k | €176k | €192k | ▲ 9.2% |
| Investment in fixed assets (approximation) | - | €-2k | €-25k | €-70k | €-19k | ▲ 72.0% |
| Change in cash | - | €60k | €-14k | €-126k | €6k | ▲ 105% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €180k ▲15.2%
Operating result €241k, net result €180k, both a record.
31-12
Financial
Equity above €500kEq €529k ▲17.3%
3 profitable years in a row build equity to €529k.
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 8 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 19 days late
2021
31-12
Financial
Back to profitnet €132k
Net result €132k after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
31-12
Financial
Weakest financial yearnet €-94k
Net result drops to €-94k, the lowest in the series; recovery starts the following year.
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 21 days late
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2018
11-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 11 days late
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Etterbeek · 1 establishment unit since 1987
Ground area
236 m²
Building footprint
103 m²
Volume, LiDAR
1,354 m³
Parcel 21364B0196/00N004, Brussels · tallest building 18.0 m, ±5 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
EXCEPTION - EXCEPTION
since 19872.033.092.383
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21364B0196/00N004 | Brussels | 236 m² | 1 · 103 m² | 18.0 m · 5 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
87550033QL0WQ8T6CC54
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Of 4,571 companies in sector 82300 we hold annual accounts for 1,672. 875 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
Founded15-02-1987
Fiscal year end31-12
Activities, NACEBEL 2025
78100Employment placement agencies
82300Organisation of conventions and trade shows
73120Media representation
93110Operation of sports facilities
93199Other sports activities
93299Other amusement and recreation activities
Contact
Scores and ratios are computed by Checked and are not a credit decision.