A KEYSTONE
ActiveSummary
A KEYSTONE has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€13,306) and a net result of -€721. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 5% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▼-77
Solvency0=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.41; short-term debt: 220.5% and cash: 89.9% of total assets), and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
-120.5%
Return on assets
-6.5%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€13,306
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 filingsDeviation from the deadline
2025
24 d late
2024
130 d late
2023
495 d late
2022
11 d late
2021
26 d late
2020
30 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 115 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€1,500▼ 92.0%
2023 · €18,863
EBIT margin
16.8%▼ 21.3pp
2023 · 38.2%
Net result
-€721
2024 · €325
Working capital
-€14,416▲ 1.1%
2023 · -€14,574
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€32,168▼ 61.7%€48,629▲ 51.2%€18,863▼ 61.2%€1,500▼ 92.0%
Operating result-€18,599€3,519€7,196▲ 105%€253▼ 96.5%-€1,384
Net result-€19,676below the sector's middle half€661within the sector's middle half€7,118within the sector's middle half▲ 977%€325within the sector's middle half▼ 95.4%-€721within the sector's middle half
EBIT margin-57.8%▼ 65.3pp7.2%▲ 65.1pp38.2%▲ 30.9pp16.8%▼ 21.3pp
Equity-€20,688below the sector's middle half▼ 1,944%-€20,027below the sector's middle half▲ 3.2%-€12,909below the sector's middle half▲ 35.5%-€12,584below the sector's middle half▲ 2.5%-€13,306below the sector's middle half▼ 5.7%
Total assets€12,066below the sector's middle half▼ 54.7%€5,203below the sector's middle half▼ 56.9%€6,254below the sector's middle half▲ 20.2%€1,388below the sector's middle half▼ 77.8%€11,039below the sector's middle half▲ 696%
Debt€32,754▲ 18.4%€25,230▼ 23.0%€19,163▼ 24.0%€13,972▼ 27.1%€24,344▲ 74.2%
Working capital-€28,331▼ 120%-€23,288▲ 17.8%-€14,574▲ 37.4%-€14,416
Solvency-171.5%below the sector's middle half▼ 167.7pp-384.9%below the sector's middle half▼ 213.4pp-206.4%below the sector's middle half▲ 178.5pp-120.5%below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €1,384 after €253 in 2024.
Balance-sheet composition
Assets €11,039
Fixed assets
€1,110
Current assets
€9,929
Key figures and ratios
EBITDA
-€1,106▼
2024 · €530
Cash flow
-€444▼
2024 · €603
Current ratio
0.41
Debt to equity
-1.83
ROA
-6.5%
Interest coverage
1.67
Debt ≤ 1 year
€24,344▲
2024 · €13,972
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,798 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
1.9%
went bankrupt
6.0%
stopped otherwise
90%
still going
A further 2.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,798 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €32,168 | €48,629 | €18,863 | €1,500 | - | - |
| Non-recurring operating income76A | - | €63 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €47,178 | €39,711 | €11,096 | €895 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,212 | €4,382 | €570 | €278 | €278 | = |
| Other operating charges640/8 | €787 | €1,018 | - | €75 | €487 | ▲ 549% |
| Gross operating margin9900 | -€13,599 | €8,918 | €7,766 | €605 | -€619 | ▼ 202% |
| Operating profit (loss)9901 | -€18,599 | €3,519 | €7,196 | €253 | -€1,384 | ▼ 648% |
| Financial income75/76B | €4 | €0 | - | €73 | - | - |
| Recurring financial income75 | €4 | €0 | - | €73 | - | - |
| Financial charges65/66B | €79 | €129 | €79 | - | -€663 | - |
| Recurring financial charges65 | €79 | €129 | €79 | - | -€663 | - |
| Profit (loss) for the period before taxes9903 | -€18,673 | €3,390 | €7,118 | €325 | -€721 | ▼ 322% |
| Income taxes67/77 | €1,003 | €2,729 | - | - | - | - |
| Profit (loss) for the period9904 | -€19,676 | €661 | €7,118 | €325 | -€721 | ▼ 322% |
| Profit (loss) for the period to be appropriated9905 | -€19,676 | €661 | €7,118 | €325 | -€721 | ▼ 322% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12,066 | €5,203 | €6,254 | €1,388 | €11,039 | ▲ 696% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €7,643 | €3,261 | €1,665 | €1,388 | €1,110 | ▼ 20.0% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €7,643 | €3,261 | €1,665 | €1,388 | €1,110 | ▼ 20.0% |
| Plant, machinery and equipment23 | €2,220 | €1,943 | €1,665 | €1,388 | €1,110 | ▼ 20.0% |
| Furniture and vehicles24 | €5,423 | €1,318 | - | - | - | - |
| Current assets29/58 | €4,423 | €1,943 | €4,589 | - | €9,929 | - |
| Amounts receivable within one year40/41 | €293 | €1,900 | €4,587 | - | - | - |
| Trade receivables40 | €293 | €1,676 | €4,587 | - | - | - |
| Other amounts receivable41 | - | €225 | - | - | - | - |
| Cash at bank and in hand54/58 | €33 | €42 | €2 | - | €9,929 | - |
| Deferred charges and accrued income490/1 | €4,096 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12,066 | €5,203 | €6,254 | €1,388 | €11,039 | ▲ 696% |
| Equity10/15 | -€20,688 | -€20,027 | -€12,909 | -€12,584 | -€13,306 | ▼ 5.7% |
| Contributions10/11 | €37,200 | €37,200 | €37,200 | €37,200 | €37,200 | = |
| Capital10 | €37,200 | - | €37,200 | €37,200 | - | - |
| Issued capital100 | €37,200 | - | €37,200 | €37,200 | - | - |
| Reserves13 | €4,663 | €4,663 | €4,663 | €4,663 | €4,663 | = |
| Tax-exempt reserves132 | €4,663 | €4,663 | €4,663 | €4,663 | €4,663 | = |
| Profit (loss) carried forward14 | -€62,551 | -€61,890 | -€54,772 | -€54,447 | -€55,168 | ▼ 1.3% |
| Amounts payable17/49 | €32,754 | €25,230 | €19,163 | €13,972 | €24,344 | ▲ 74.2% |
| Amounts payable within one year42/48 | €32,754 | €25,230 | €19,163 | €13,972 | €24,344 | ▲ 74.2% |
| Trade debts44 | €6,378 | €1,240 | €142 | €70 | - | - |
| Suppliers440/4 | €6,378 | €1,240 | €142 | €70 | - | - |
| Advances received on contracts in progress46 | - | - | €5,550 | - | - | - |
| Taxes, remuneration and social security45 | €3,136 | €3,174 | €609 | €2,432 | €120 | ▼ 95.1% |
| Taxes450/3 | €3,136 | €3,174 | €609 | €2,432 | €120 | ▼ 95.1% |
| Other amounts payable47/48 | €23,240 | €20,816 | €12,862 | €11,470 | €24,225 | ▲ 111% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,676 | €661 | €7,118 | €325 | -€721 | ▼ 322% |
| + Depreciation and write-downs630 | €4,212 | €4,382 | €570 | €278 | €278 | = |
| Operating cash flow (approximation) | -€15,464 | €5,043 | €7,688 | €603 | -€444 | ▼ 174% |
| Investment in fixed assets (approximation) | - | €0 | €1,026 | €0 | €0 | - |
| Change in cash | - | €9 | -€40 | - | - | - |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
08-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 130 days late
08-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 495 days late
2023
31-12
Financial
Highest result since 2018net €7,118 ▲977%
Net result €7,118, the highest in the series.
11-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 11 days late
2022
31-12
Financial
Back to profitnet €661
Net result €661 after one loss-making year.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Weakest financial yearnet -€19,676
Net result drops to -€19,676, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Back to profitnet €6,634
Net result €6,634 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Ottignies-Louvain-la-Neuve · 1 establishment unit since 2003
Ground area
933 m²
Building footprint
102 m²
Volume, LiDAR
712 m³
Parcel 25016D0142/00F006, Wallonia · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
A KEYSTONE SRL
since 20032.131.474.436
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25016D0142/00F006 | Wallonia | 933 m² | 1 · 102 m² | 9.0 m · 2 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-05-2003
Fiscal year end31-12
Trade name FR
BRABIMO
Activities, NACEBEL 2025
68310Real estate agency activities
Contact
E-mail
info@akeystone.netOttignies-Louvain-la-Neuve
E-mail
info@brabimo.beOttignies-Louvain-la-Neuve
E-invoicing
Reachable via Peppol
Peppol ID
0208:0480196223
Also
9925:BE0480196223
Registered
10-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.