Altman Z-Score for Belgian SMEs: a practical guide with worked examples
Altman's Z-Score is the academic benchmark for predicting business failure. Discover the Z'' version adapted for unlisted Belgian SMEs — its formula, thresholds and a fully worked example based on annual accounts filed with the NBB.
The Conan-Holder model: predicting SME failure within 3 years
The Conan-Holder score is the French-speaking equivalent of Altman's Z-Score, specifically calibrated on French and Belgian SMEs. Discover its formula, its five ratios, its interpretation bands and a worked example to assess the probability of failure of a Belgian company over three years.
Reading a balance sheet filed at the NBB: full schema vs abridged schema
Every Belgian company files its accounts with the NBB Central Balance Sheet Office, but not in the same format. Understanding the difference between full schema, abridged schema and micro schema is essential to analyse a balance sheet, compute ratios and read the figures of a Belgian SME correctly.
EBITDA, EBIT, operating result: the differences in Belgian accounting
EBITDA, EBIT and operating result are often conflated. In Belgian accounting, only 'operating result' (rubric 9901) is an official line item — EBIT and EBITDA must be rebuilt. Here is how to compute them correctly from annual accounts filed at the NBB.
12 financial ratios to watch when assessing a Belgian SME in 2026
Solvency, liquidity, profitability, productivity, financing structure: here are the 12 essential financial ratios to assess a Belgian SME, with formulas, sectoral thresholds and the NBB rubric to use. The complete dashboard for the credit manager, accountant and director.
Beyond the list: leveraging the market statistics that /recherche computes for you
Every Company Belgium search returns, on top of the paginated list, an aggregates panel: legal forms, top municipalities, NACE distribution, company age. Enough to frame a prospecting plan, size a market or compare two regions in under a minute.
Financial analysis PDF report and micro/SME classification
NBB financial analysis is now exportable as a full PDF with ratios, SVG charts and company-size badge (article 1:24 CSA).
New: financial analysis of Belgian companies via NBB annual accounts
The Company Belgium API now offers multi-year financial analysis of Belgian companies, extracted directly from annual accounts filed with the National Bank of Belgium's Central Balance Sheet Office.
Brussels, Flanders, Wallonia: Comparing Enterprise Data Across Belgium's 3 Regions
Belgium has over one million active enterprises spread across Flanders, Wallonia, and Brussels. Discover the regional differences in enterprise counts, dominant sectors, and legal forms, and how the Company Belgium API enables efficient cross-regional search.
Over 700,000 Enterprises in Flanders: Explore the Flemish Business Landscape via the BCE
Flanders hosts over 700,000 active enterprises spanning key sectors such as chemicals, automotive, logistics, and tech. Discover how to use the Company Belgium API to prospect, analyse, and leverage BCE data across the entire Flemish region.
Company search in Charleroi: analyze the economic renaissance through the BCE database
Charleroi is experiencing an economic renaissance driven by aerospace, biotech and industrial reconversion. Discover how to use the Company Belgium API to explore companies in emerging sectors, verify aerospace supply chain partners, and analyze the Charleroi market through the BCE database.
Companies in Liège: Aerospace, Logistics, and BCE Market Analysis
Liège is a major aerospace and logistics hub in Europe. With Liège Airport as a cargo hub and a rich industrial fabric, discover how the Company Belgium API lets you search and analyze Liège-based companies through BCE data.
Company Belgium statistics in 2026
Analysis of key figures from the BCE/KBO register: active companies, regional distribution, dominant sectors and creation trends.