ANDRE SZEP
ActiveSummary
The computed 12-month bankruptcy probability of ANDRE SZEP is 1.9% (moderate). The 2025 annual accounts show negative equity (-€7,443) and a net result of -€21,836. Equity is shrinking by ~22% per year across the filed fiscal years. Its solvency ranks better than 5% of 28281 sector peers (fiscal year 2025). The company has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-30
Solvency0▼-77
Growth22=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.58 against 2.52 in 2024; short-term debt: 165.9% of total assets), and equity is negative.
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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
-65.9%
Return on assets
-193.3%
Age of the figures
18 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
19202122232425
2019 to 2025 · latest year -€7,443
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 22-10-2025, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
3 d early
2023
1 d early
2022
14 d late
2021
22 d late
2020
5 d early
2019
52 d early
← 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 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 30 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close29-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€2,224▼ 78.2%
2024 · €10,212
EBIT margin
-920.9%▼ 895.9pp
2024 · -24.9%
Net result
-€21,836▼ 610%
2024 · -€3,075
Working capital
-€7,881
2024 · €16,110
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€32,610▼ 15.8%€14,303▼ 56.1%€8,905▼ 37.7%€10,212▲ 14.7%€2,224▼ 78.2%
Operating result€7,172▲ 450%-€13,787-€3,984▲ 71.1%-€2,547▲ 36.1%-€20,480▼ 704%
Net result€5,779within the sector's middle half-€15,429below the sector's middle half-€5,585below the sector's middle half▲ 63.8%-€3,075below the sector's middle half▲ 44.9%-€21,836below the sector's middle half▼ 610%
EBIT margin22.0%▲ 18.6pp-96.4%▼ 118.4pp-44.7%▲ 51.7pp-24.9%▲ 19.8pp-920.9%▼ 895.9pp
Equity€38,482within the sector's middle half▲ 17.7%€23,053within the sector's middle half▼ 40.1%€17,468below the sector's middle half▼ 24.2%€14,393below the sector's middle half▼ 17.6%-€7,443below the sector's middle half
Total assets€64,754below the sector's middle half▲ 5.2%€53,053below the sector's middle half▼ 18.1%€28,987below the sector's middle half▼ 45.4%€27,449below the sector's middle half▼ 5.3%€11,296below the sector's middle half▼ 58.8%
Debt€26,272▼ 9.0%€30,000▲ 14.2%€11,519▼ 61.6%€13,056▲ 13.3%€18,739▲ 43.5%
Working capital€37,971within the sector's middle half▲ 14.1%€23,168within the sector's middle half▼ 39.0%€18,300within the sector's middle half▼ 21.0%€16,110within the sector's middle half▼ 12.0%-€7,881below the sector's middle half
Solvency59.4%within the sector's middle half▲ 6.3pp43.5%within the sector's middle half▼ 16.0pp60.3%within the sector's middle half▲ 16.8pp52.4%within the sector's middle half▼ 7.8pp-65.9%below the sector's middle half▼ 118.3pp
Current ratio3.38above the sector's middle half▲ 0.252.04within the sector's middle half▼ 1.343.81above the sector's middle half▲ 1.772.52within the sector's middle half▼ 1.280.58below the sector's middle half▼ 1.95
Return on assets (ROA)8.9%within the sector's middle half▲ 10.6pp-29.1%below the sector's middle half▼ 38.0pp-19.3%below the sector's middle half▲ 9.8pp-11.2%below the sector's middle half▲ 8.1pp-193.3%below the sector's middle half▼ 182.1pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 stays negative: a loss of €20,480 in 2025 against €2,547 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11,296
Fixed assets
€438 ▼ 43.3%
Current assets
€10,858 ▼ 59.3%
Key figures and ratios
EBITDA
-€20,195▼
2024 · €851
Cash flow
-€21,551▼
2024 · €323
Debt to equity
-2.52▼
2024 · 0.91
Interest coverage
-15.45▼
2024 · 1.61
Debt ≤ 1 year
€18,739▲
2024 · €10,566
Income taxes
€49
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,622 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.6%
went bankrupt
10.0%
stopped otherwise
84%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 6,622 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 | €32,610 | €14,303 | €8,905 | €10,212 | €2,224 | ▼ 78.2% |
| Goods, raw materials, services and sundry goods60/61 | - | €23,931 | €8,473 | €8,581 | €8,084 | ▼ 5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,245 | €3,245 | €3,398 | €3,398 | €285 | ▼ 91.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €13,584 | - |
| Other operating charges640/8 | - | €914 | €1,018 | €780 | €751 | ▼ 3.7% |
| Gross operating margin9900 | €10,879 | -€9,628 | €432 | €1,631 | -€5,860 | ▼ 459% |
| Operating profit (loss)9901 | €7,172 | -€13,787 | -€3,984 | -€2,547 | -€20,480 | ▼ 704% |
| Financial charges65/66B | - | €1,642 | €1,601 | €528 | €1,307 | ▲ 148% |
| Recurring financial charges65 | €1,393 | €1,642 | €1,601 | €528 | €1,307 | ▲ 148% |
| Profit (loss) for the period before taxes9903 | €5,779 | -€15,429 | -€5,585 | -€3,075 | -€21,787 | ▼ 609% |
| Income taxes67/77 | - | - | - | - | €49 | - |
| Profit (loss) for the period9904 | €5,779 | -€15,429 | -€5,585 | -€3,075 | -€21,836 | ▼ 610% |
| Profit (loss) for the period to be appropriated9905 | €5,779 | -€15,429 | -€5,585 | -€3,075 | -€21,836 | ▼ 610% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €64,754 | €53,053 | €28,987 | €27,449 | €11,296 | ▼ 58.8% |
| Fixed assets21/28 | €10,814 | €7,569 | €4,171 | €773 | €438 | ▼ 43.3% |
| Tangible fixed assets22/27 | €10,632 | €7,387 | €3,989 | €591 | €306 | ▼ 48.2% |
| Leasing and similar rights25 | - | €6,226 | €3,113 | - | - | - |
| Other tangible fixed assets26 | - | €1,161 | €876 | €591 | €306 | ▼ 48.2% |
| Financial fixed assets28 | €182 | €182 | €182 | €182 | €132 | ▼ 27.5% |
| Current assets29/58 | €53,940 | €45,484 | €24,816 | €26,676 | €10,858 | ▼ 59.3% |
| Amounts receivable within one year40/41 | €53,940 | €45,484 | €24,816 | €26,676 | €10,858 | ▼ 59.3% |
| Trade receivables40 | - | €17,121 | €14,717 | €14,045 | €172 | ▼ 98.8% |
| Other amounts receivable41 | - | €28,363 | €10,099 | €12,631 | €10,686 | ▼ 15.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €64,754 | €53,053 | €28,987 | €27,449 | €11,296 | ▼ 58.8% |
| Equity10/15 | €38,482 | €23,053 | €17,468 | €14,393 | -€7,443 | ▼ 152% |
| Contributions10/11 | €6,222 | €6,222 | €6,222 | €6,222 | €6,222 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €30,400 | €14,971 | €9,386 | €6,311 | -€15,525 | ▼ 346% |
| Amounts payable17/49 | €26,272 | €30,000 | €11,519 | €13,056 | €18,739 | ▲ 43.5% |
| Amounts payable after more than one year17 | €10,303 | €7,684 | €5,003 | €2,490 | - | - |
| Financial debts170/4 | - | €7,684 | €5,003 | €2,490 | - | - |
| Amounts payable within one year42/48 | €15,969 | €22,316 | €6,516 | €10,566 | €18,739 | ▲ 77.4% |
| Current portion of amounts payable after more than one year42 | - | €2,618 | €2,681 | €2,513 | €2,490 | ▼ 0.9% |
| Financial debts43 | - | €14,227 | €1,512 | €6,576 | €14,646 | ▲ 123% |
| Credit institutions430/8 | - | €14,227 | €1,512 | €6,576 | €14,646 | ▲ 123% |
| Trade debts44 | €2,128 | €4,821 | €1,350 | €1,477 | €1,603 | ▲ 8.5% |
| Suppliers440/4 | - | €4,821 | €1,350 | €1,477 | €1,603 | ▲ 8.5% |
| Advances received on contracts in progress46 | - | €650 | €973 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,779 | -€15,429 | -€5,585 | -€3,075 | -€21,836 | ▼ 610% |
| + Depreciation and write-downs630 | €3,245 | €3,245 | €3,398 | €3,398 | €285 | ▼ 91.6% |
| Operating cash flow (approximation) | €9,024 | -€12,184 | -€2,187 | €323 | -€21,551 | ▼ 6,772% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €50 | - |
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
2025
22-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet -€21,836
Net result drops to -€21,836, the lowest in the series.
2024
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
14-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 14 days late
2021
22-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
31-03
Financial
Back to profitnet €5,779
Net result €5,779 after 2 loss-making years.
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
21-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
16-09
NBB filing
Annual accounts filed
fiscal year 2016 · full 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, Braine-le-Comte · 1 establishment unit since 2000
Ground area
1,268 m²
Building footprint
107 m²
Volume, LiDAR
627 m³
2 parcels, Wallonia · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Avenue Croix de Lorraine 27, 1310 La Hulpe
since 20002.093.784.590
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25050A0075/00Z003 | Wallonia | 950 m² | 1 · 107 m² | 7.3 m · 2 fl. |
| 55302C1192/00R005 | Wallonia | 318 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,537 companies in sector 43222 we hold annual accounts for 5,668. 3,068 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
Founded03-04-2000
Fiscal year end31-03
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471584306
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.