Ketchum

Active

Public limited companyfounded 199035 yrs activeScheldestraat 122, 1080 Sint-Jans-Molenbeek, BelgiumKBO/BCE: BE 0441.615.660

Summary

Ketchum has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.99M and a net result of €10k. Equity is growing by ~6.4% per year across the filed fiscal years. Its solvency ranks better than 76% of 8093 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).

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Checked score

Score 2024

80 / 100

Excellent

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability19▲+2

Solvency100▲+34

Growth52=

Track record100

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €230k at 30 days acceptable

Liquidity ample (current ratio 6.8 against 8.42 in 2023; short-term debt: 14.4% and cash: 62.1% of total assets), and 19.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 70

lower

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

80.6%

Return on assets

0.3%

Age of the figures

21 mo

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-09-2025, 55 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 · 10 filings

Deviation from the deadline

2025

not confirmed

2024

55 d late

2023

29 d late

2022

179 d late

2021

163 d late

2020

124 d late

2019

62 d late

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Turnover

€5.11M

EBIT margin

10.7%

Net result

€10k

2023 · €-88k

2018: €415k 2019: €2.50M 2020: €-102k 2021: €548k 2022: €122k 2023: €-88k

2018 → 2024

Working capital

€3.10M▼ 51.4%

2023 · €6.38M

2018: €3.09M 2019: €3.48M 2020: €3.89M 2021: €6.42M 2022: €7.03M 2023: €6.38M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€2.39M-€2.94M▲ 22.9%€3.06M▲ 4.1%€2.98M▼ 2.9%€2.99M▲ 0.3%

Operating result€-37k-€477k€111k▼ 76.7%€-45k€-30k▲ 32.7%

Net result€-102k-€548k€122k▼ 77.8%€-88k€10k

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €30k in 2024 against €45k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €3.71M

98.1%

Fixed assets €69k ▼ 9.4%

Current assets €3.64M ▼ 49.7%

Equity and liabilities €3.71M

80.6%

19.4%

Equity €2.99M ▲ 0.3%

Debt €718k ▼ 83.4%

Debt's share of the balance-sheet total falls from 59.3% to 19.4%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-10k▲

2023 · €-12k

Cash flow

€31k▲

2023 · €-54k

Current ratio

6.80▼

2023 · 8.42

Quick ratio

6.77▼

2023 · 8.41

Debt to equity

0.24▼

2023 · 1.46

ROE

0.3%▲

2023 · -2.9%

ROA

0.3%▲

2023 · -1.2%

Interest coverage

-0.20▼

2023 · -0.09

Debt ≤ 1 year

€535k▼

2023 · €859k

Debt > 1 year

€18k▼

2023 · €3.13M

Income taxes

€3k▲

2023 · €1k

Staff costs

€1.22M▼

2023 · €1.39M

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€7.31M€3.71M▼

Fixed assets21/28€76k€69k▼

Tangible fixed assets22/27€41k€33k▼

Furniture and vehicles24€6k€3k▼

Leasing and similar rights25€34k€30k▼

Financial fixed assets28€35k€35k▲

Current assets29/58€7.23M€3.64M▼

Stocks and contracts in progress3€13k€12k▼

Contracts in progress37€13k€12k▼

Amounts receivable within one year40/41€1.35M€1.25M▼

Trade receivables40€1.10M€935k▼

Other amounts receivable41€250k€318k▲

Cash at bank and in hand54/58€5.83M€2.30M▼

Deferred charges and accrued income490/1€43k€71k▲

Equity and liabilities

Total equity and liabilities10/49€7.31M€3.71M▼

Equity10/15€2.98M€2.99M▲

Contributions10/11€2.50M€2.50M=

Capital10€2.50M€2.50M=

Issued capital100€2.50M€2.50M=

Reserves13€12k€13k▲

Non-distributable reserves130/1€12k€13k▲

Legal reserve130€12k€13k▲

Profit (loss) carried forward14€465k€474k▲

Amounts payable17/49€4.33M€718k▼

Amounts payable after more than one year17€3.13M€18k▼

Financial debts170/4€3.13M€18k▼

Amounts payable within one year42/48€859k€535k▼

Current portion of amounts payable after more than one year42€13k€15k▲

Trade debts44€685k€413k▼

Suppliers440/4€685k€413k▼

Taxes, remuneration and social security45€160k€108k▼

Taxes450/3€1k€1k=

Remuneration and social security454/9€159k€107k▼

Accrued charges and deferred income492/3€347k€165k▼

Income statement Code20232024

Remuneration, social security and pensions62€1.39M€1.22M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€21k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€48k

Other operating charges640/8€17k€7k▼

Gross operating margin9900€1.39M€1.27M▼

Operating profit (loss)9901€-45k€-30k▲

Financial income75/76B€93k€92k▼

Recurring financial income75€93k€92k▼

Financial charges65/66B€135k€48k▼

Recurring financial charges65€135k€48k▼

Profit (loss) for the period before taxes9903€-86k€13k▲

Income taxes67/77€1k€3k▲

Profit (loss) for the period9904€-88k€10k▲

Profit (loss) for the period to be appropriated9905€-88k€10k▲

Appropriation of the result

Profit (loss) to be appropriated9906€465k€475k▲

Profit (loss) brought forward from the previous period14P€552k€465k▼

Transfer to equity691/2-€512

To the legal reserve6920-€512

Social balance

Average headcount (FTE)908717.613.3▼

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 38Financial 6Gazette 22Filings 10

2026

27-01

State Gazette act Appointments: KPMG Bedrijfsrevisoren BV/SRL, Kris Govaerts and Omnicom Advertising Group Belgium (OAG Belgium NV)

Permanent representatives: Steven Veyt and Marcus van Diepen · Resignations: Oliver Welz, John M.W. Betts and Geert Van Coppenholle · Mandate compensation10 facts ▸

General meeting, 22-12-2025
Auditor appointment, KPMG Bedrijfsrevisoren BV/SRL (statutory auditor)
Permanent representative, Steven Veyt (permanent representative)
Mandate compensation, KPMG Bedrijfsrevisoren BV/SRL
Director resignation, Oliver Welz (director)
Director resignation, John M.W. Betts (director)
Director resignation, Geert Van Coppenholle (wettelijk vertegenwoordiger)
Director appointment, Kris Govaerts (director)
Director appointment, Omnicom Advertising Group Belgium (OAG Belgium NV) (director)
Permanent representative, Marcus van Diepen (representative)

2025

25-11

State Gazette act Appointment: Geert Van Coppenholle (wettelijk vertegenwoordiger)

2 facts ▸

General meeting, 06-08-2025
Director appointment, Geert Van Coppenholle (wettelijk vertegenwoordiger)

12-11

State Gazette act Resignation: Praize bv (director)

2 facts ▸

General meeting, 28-03-2025
Director resignation, Praize bv (director)

24-09

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 55 days late

07-02

State Gazette act Resignations: Scott David James (director) and Mark Hume (director)

3 facts ▸

General meeting, 31-12-2023
Director resignation, Scott David James (director)
Director resignation, Mark Hume (director)

2024

31-12

Financial Back to profitnet €10k

Net result €10k after one loss-making year.

29-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 29 days late

24-07

State Gazette act Resignation: Prometheus Public Affairs BV (director)

2 facts ▸

General meeting, 23-11-2023
Director resignation, Prometheus Public Affairs BV (director)

26-01

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 179 days late

2023

14-02

State Gazette act Resignations: Luc Michiels (director and managing director) and Deloitte Bedrijfsrevisore (statutory auditor)

Appointments: Praize bv, Prometheus Public Affairs bv and 4 others · Permanent representatives: Jeroen Fermie and Jessica Brobald · Approval15 facts ▸

General meeting, 04-04-2023
Approval
Approval, resultaatsverdeling, 548000
Director resignation, Luc Michiels (director and managing director)
Director discharge, Luc Michiels
Director appointment, Praize bv (director)
Permanent representative, Jeroen Fermie
Director appointment, Prometheus Public Affairs bv (director)
Permanent representative, Jessica Brobald
Director appointment, Jo-ann Robertson (director)
Director appointment, David Scott (director)
Director appointment, Oliver Welz (director)
+3 further facts in this act

10-01

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 163 days late

03-01

State Gazette act Resignations & appointments

Appointment: Mark Hume (director) · Approval · Director discharge6 facts ▸

General meeting, 26/11/2021
Approval, 26/11/2021
Approval, 26/11/2021
Director appointment, Mark Hume (director)
Director discharge, KETCHUM
Merger, 01/09/2021

Show earlier events

2022

20-12

State Gazette act Resignations: Eugenius bv (bestuurder en afgevaardigd bestuurder) and Patrick Resk (director)

Director discharge5 facts ▸

General meeting, 18/10/2021
Director resignation, Eugenius bv (bestuurder en afgevaardigd bestuurder)
Director discharge, Eugenius bv
Director resignation, Patrick Resk (director)
Director discharge, Patrick Resk

2021

31-12

Financial Back to profitnet €548k

Net result €548k after one loss-making year.

02-12

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 124 days late

27-09

State Gazette act Capital & shares · Restructuring

Merger · Accounting effect · Capital decrease7 facts ▸

General meeting, 01-09-2021
Merger, verrichting gelijkgesteld met fusie door overneming, 01-09-2021
Accounting effect, 01-01-2021
Capital decrease, €13.062.000
Name change, Ketchum
Statutes amendment
Capital, €2.500.000

22-01

State Gazette act Restructuring

Merger · Accounting effect · Shareholding4 facts ▸

Board meeting, 10-11-2020
Merger, absorption
Accounting effect, 01-01-2021
Shareholding, 100%

2020

31-12

Financial Weakest financial yearnet €-102k ▼104%

Net result drops to €-102k, the lowest in the series; recovery starts the following year.

01-10

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 62 days late

22-07

State Gazette act Resignations: HELIADE COMM. V. (member of the executive committee) and INGE BOETS (gedelegeerd bestuurder en voorzitter van het directiecomité)

Reappointments: JOHN WILLIAM BETTS (director) and PATRICK RESK (director) · Appointment: LUC MICHIELS (managing director) · Director discharge9 facts ▸

Director resignation, HELIADE COMM. V. (member of the executive committee)
General meeting, 10-01-2020
Director reappointment, JOHN WILLIAM BETTS (director)
Director reappointment, PATRICK RESK (director)
Board meeting, 22-04-2020
Director resignation, INGE BOETS (gedelegeerd bestuurder en voorzitter van het directiecomité)
Director appointment, LUC MICHIELS (managing director)
General meeting, 22-04-2020
Director discharge, INGE BOETS (director)

12-02

State Gazette act Appointment: Deloitte Bedrijfsrevisoren (B025) (statutory auditor)

Permanent representative: Luc Van Coppenolle3 facts ▸

General meeting, 15-11-2019
Auditor appointment, Deloitte Bedrijfsrevisoren (B025) (statutory auditor)
Permanent representative, Luc Van Coppenolle

21-01

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 174 days late

21-01

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 539 days late

2019

31-12

Financial Highest result since 2018net €2.50M ▲503%

Operating result €544k, net result €2.50M, both a record.

31-12

Financial Liquidity quadruplescurrent ratio 6.27

Current ratio from 1.55 to 6.27; short-term debt falls from €5.60M to €660k.

31-12

Financial Equity above €2MEq €2.50M

2 profitable years in a row build equity to €2.50M.

24-06

State Gazette act Resignation: Peter Trueman (director)

Reappointment: Luc Michiels (director) · Director discharge4 facts ▸

General meeting, 03-01-2019
Director resignation, Peter Trueman (director)
Director discharge, Peter Trueman
Director reappointment, Luc Michiels (director)

2018

19-03

State Gazette act Registered office

Registered-office move2 facts ▸

Board meeting, 17-12-2017
Registered-office move, Scheldestraat 122-1080 Brussel

2017

17-11

State Gazette act Reappointment: KPMG Bedrijfsrevisoren CVBA (statutory auditor)

Appointment: Luc Michiels (director) · Permanent representative: Patrick De Schutter7 facts ▸

General meeting, 20-08-2013
Auditor reappointment, KPMG Bedrijfsrevisoren CVBA
Director appointment, Luc Michiels (director)
General meeting, 28-08-2016
Auditor reappointment, KPMG Bedrijfsrevisoren CVBA
Board meeting, 30-11-2016
Permanent representative, Patrick De Schutter

31-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 31 days late

2016

28-09

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 59 days late

18-01

State Gazette act Resignations: Michael Ramah (director) and Sally Ward (director)

Capital increase · Bank account · Capital7 facts ▸

General meeting, 23-12-2015
Capital increase, €15.500.000
Bank account, BE12 0017 7561 3692
Capital, €15.562.000
Statutes amendment
Director resignation, Michael Ramah (director)
Director resignation, Sally Ward (director)

2014

28-10

State Gazette act Resignation: Cursor NV (bestuurder en managing director)

Appointment: Inge Boets (bestuurder en managing director) · Permanent representative: Luc Missinne7 facts ▸

General meeting, 14-08-2014
Director resignation, Cursor NV (bestuurder en managing director)
Director appointment, Inge Boets (bestuurder en managing director)
Board meeting, 14-08-2014
Director resignation, Cursor NV (managing director)
Director appointment, Inge Boets (managing director)
Permanent representative, Luc Missinne

07-02

State Gazette act Appointments: Patrick Resk, Sally Naomi Fiona Ward and 2 others

Mandate compensation9 facts ▸

General meeting, 10-01-2014
Director appointment, Patrick Resk (director)
Director appointment, Sally Naomi Fiona Ward (director)
Director appointment, Peter Douglas Trueman (director)
Director appointment, John Martin William Betts (director)
Mandate compensation, Patrick Resk
Mandate compensation, Sally Naomi Fiona Ward
Mandate compensation, Peter Douglas Trueman
Mandate compensation, John Martin William Betts

2012

11-12

State Gazette act Resignations: Gary Stockman (director) and Castelli BVBA (director)

Appointment: Michael Ramah (director)4 facts ▸

General meeting, 14-08-2012
Director resignation, Gary Stockman (director)
Director appointment, Michael Ramah (director)
Director resignation, Castelli BVBA (director)

2011

22-04

State Gazette act Reappointment: KPMG Bedrijfsrevisoren (statutory auditor)

3 facts ▸

General meeting, 17-02-2011
Auditor reappointment, KPMG Bedrijfsrevisoren
Auditor reappointment, KPMG Bedrijfsrevisoren

2010

04-05

State Gazette act Resignation: Casteleyn Dimitri (director)

Appointment: Stockman Gary (director)3 facts ▸

General meeting, 29-12-2009
Director resignation, Casteleyn Dimitri (director)
Director appointment, Stockman Gary (director)

2005

30-03

State Gazette act Appointment: CVBA Klynveld Peat Marwick Goerdeler Bedrijfsrevisioren (statutory auditor)

Mandate compensation3 facts ▸

General meeting, 21-09-2004
Auditor appointment, CVBA Klynveld Peat Marwick Goerdeler Bedrijfsrevisioren
Mandate compensation, CVBA Klynveld Peat Marwick Goerdeler Bedrijfsrevisioren

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

8 directors, no change since 2025

Kris Govaerts

Director · since 23-12-2025

Current

Omnicom Advertising Group Belgium (OAG Belgium NV)

Director · since 23-12-2025 · Legal entity · perm. rep.: Marcus van Diepen

Current

David Scott

Director · since 24-12-2022

Current

Jo-ann Robertson

Director · since 24-12-2022

Current

JOHN WILLIAM BETTS

Director · since 10-01-2020

Not recently confirmed

John Martin William Betts

Director · since 10-01-2014

Not recently confirmed

2 other directors

Peter Douglas Trueman

Director · since 10-01-2014

Not recently confirmed

Sally Naomi Fiona Ward

Director · since 10-01-2014

Not recently confirmed

23-12-2025 Kris Govaerts: Appointed as Director

23-12-2025 Omnicom Advertising Group Belgium (OAG Belgium NV): Appointed as Director

23-12-2025 John M.W. Betts: Resigned as Director

23-12-2025 Oliver Welz: Resigned as Director

23-12-2025 VAN COPPENHOLLE Geert Albert Leona: Resigned as Wettelijk vertegenwoordiger

Full history in the Timeline (42 changes) →

Location & real-estate footprint

Registered office, Sint-Jans-Molenbeek · 1 establishment unit since 1990

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Scheldestraat 1221080 Sint-Jans-Molenbeek

Ground area

2,644 m²

Building footprint

808 m²

Volume, LiDAR

8,780 m³

Parcel 21012F0341/00A003, Brussels · tallest building 14.7 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

Porter Novelli Brussels

Scheldestraat 122, 1080 Sint-Jans-MolenbeekNACE 65231

since 19902.050.063.326

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21012F0341/00A003 ProtectedMonumentVoormalige opslagplaats en winkel BesseSource ↗	Brussels	2,643 m²	1 · 808 m²	14.7 m · 4 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Statutory auditor

1 auditor

KPMG Bedrijfsrevisoren BV/SRLCurrent

Statutory auditor · represented by Steven Veyt

22-12-2025 → present

Show 5 earlier auditors

CVBA Klynveld Peat Marwick Goerdeler Bedrijfsrevisioren Auditor succeeded by KPMG Bedrijfsrevisoren in 2011	21-09-2004 → 17-02-2011
Deloitte Bedrijfsrevisoren (B025) Statutory auditor · represented by Luc Van Coppenolle succeeded by Mazars Bedrijfsrevisoeren in 2023	15-11-2019 → 04-04-2023
KPMG Bedrijfsrevisoren Auditor succeeded by KPMG Bedrijfsrevisoren CVBA in 2013	17-02-2011 → 20-08-2013
KPMG Bedrijfsrevisoren CVBA Auditor · represented by Patrick De Schutter succeeded by Deloitte Bedrijfsrevisoren (B025) in 2019	20-08-2013 → 15-11-2019
Mazars Bedrijfsrevisoeren Statutory auditor succeeded by KPMG Bedrijfsrevisoren BV/SRL in 2025	04-04-2023 → 22-12-2025

Articles of association

Purpose

Alle advies- en managementactiviteiten inzake Corporate Communicatie...; alle uitvoeringsactiviteiten inzake Corporate Communicatie; alle opleidingsactiviteiten inzake Corporate…

Full purpose

Alle advies- en managementactiviteiten inzake Corporate Communicatie...; alle uitvoeringsactiviteiten inzake Corporate Communicatie; alle opleidingsactiviteiten inzake Corporate Communicatie...; de aankoop en de verkoop van alle roerende waardepapieren...; de steun, de promotie en verwerving van deelnemingen...; het beheer, het toezicht en de controle van alle verbonden vennootschappen...; alle roerende, onroerende of exploitatie goederen en benodigdheden, verwerven, verhuren of huren...; alle commerciële, industriële of financiële operaties...

according to the deed of 27-09-2021

Structure & network

Connections & network

1 connected company

Linked via shared directors

TMVC

Shared director

→

Acquisitions and mergers

3 transactions

Took over:Ketchum nv

BE 0451.670.206State Gazette act of 03-01-2023 · effective 01-09-2021

Took over:KETCHUM

operation treated as a merger by absorption · State Gazette act of 27-09-2021 · effective 01-09-2021

Took over:Ketchum

BE 0451.670.206merger by absorption · proposal · State Gazette act of 22-01-2021

Capital and shareholders

Capital over the years

27-09-2021 Capital reduction of 13,062,000 EUR · to 2,500,000 EUR · “aanzuivering van geleden verliezen”
18-01-2016 Capital increase of 15,500,000 EUR · to 15,562,000 EUR · 312,500 new shares

Similar companies · same sector, comparable size

S.P.S.

BE 0450.061.192

Gingelom · Eq €2,987,035

Brussel · Eq €2,986,657

BJ INVEST BEHEER

BE 0548.945.566

Lommel · Eq €2,989,075

HOESCH

BE 0458.881.363

Kraainem · Eq €2,989,145

Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 15,896 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPublic limited company

Founded11-10-1990

Fiscal year end31-12

Activities, NACEBEL 2025

70200Business and other management consultancy

73300Public relations and communication consultancy

Sources

Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.