ASR
ActiveSummary
ASR has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €205,588 and a net result of €51,573. Equity is growing by ~22.7% per year across the filed fiscal years. Its solvency ranks better than 56% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-2
Solvency78▼-22
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 10.52 in 2024; short-term debt: 47.3% and cash: 1.3% of total assets), and 47.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
52.7%
Return on assets
13.2%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-01-2026, 26 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
26 d early
2024
53 d early
2023
16 d early
2022
1 d early
2021
on the day
2020
2 d early
2019
4 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 15 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€205,588▼ 36.3%
2024 · €322,589
Total assets
€390,330▲ 6.2%
2024 · €367,506
Net result
€51,573▼ 4.1%
2024 · €53,754
Working capital
€173,635▼ 38.5%
2024 · €282,186
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
Operating result€93,721▲ 39.7%€87,319▼ 6.8%€55,725▼ 36.2%€71,023▲ 27.5%€61,359▼ 13.6%
Net result€78,268above the sector's middle half▲ 82.1%€58,929above the sector's middle half▼ 24.7%€38,520above the sector's middle half▼ 34.6%€53,754above the sector's middle half▲ 39.5%€51,573above the sector's middle half▼ 4.1%
Equity€182,885above the sector's middle half▲ 66.8%€241,814above the sector's middle half▲ 32.2%€280,335above the sector's middle half▲ 15.9%€322,589above the sector's middle half▲ 15.1%€205,588above the sector's middle half▼ 36.3%
Total assets€299,425above the sector's middle half▲ 80.3%€308,748above the sector's middle half▲ 3.1%€340,174above the sector's middle half▲ 10.2%€367,506above the sector's middle half▲ 8.0%€390,330above the sector's middle half▲ 6.2%
Debt€116,540▲ 106%€66,934▼ 42.6%€59,840▼ 10.6%€44,918▼ 24.9%€184,742▲ 311%
Working capital€124,754▲ 34.5%€191,535▲ 53.5%€214,532▲ 12.0%€282,186▲ 31.5%€173,635▼ 38.5%
Solvency61.1%within the sector's middle half▼ 4.9pp78.3%above the sector's middle half▲ 17.2pp82.4%above the sector's middle half▲ 4.1pp87.8%above the sector's middle half▲ 5.4pp52.7%within the sector's middle half▼ 35.1pp
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 falls in 2025; 2025 is 14% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €390,330
Fixed assets
€31,952 ▼ 42.6%
Current assets
€358,378 ▲ 14.9%
Equity and liabilities €390,330
Equity
€205,588 ▼ 36.3%
Debt
€184,742 ▲ 311%
Debt's share of the balance-sheet total rises from 12.2% to 47.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€90,655▼
2024 · €100,871
Cash flow
€80,869▼
2024 · €83,602
Current ratio
1.94▼
2024 · 10.52
Debt to equity
0.90▲
2024 · 0.14
ROE
25.1%▲
2024 · 16.7%
ROA
13.2%▼
2024 · 14.6%
Interest coverage
473.07▲
2024 · 419.98
Debt ≤ 1 year
€184,742▲
2024 · €29,628
Debt > 1 year
€0▼
2024 · €15,290
Income taxes
€15,653▼
2024 · €17,292
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 31,324 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €134 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,856 | €23,804 | €26,978 | €29,848 | €29,296 | ▼ 1.8% |
| Other operating charges640/8 | - | €574 | €3,435 | €3,595 | €1,666 | ▼ 53.7% |
| Gross operating margin9900 | €109,535 | €111,696 | €86,272 | €104,466 | €92,322 | ▼ 11.6% |
| Operating profit (loss)9901 | €93,721 | €87,319 | €55,725 | €71,023 | €61,359 | ▼ 13.6% |
| Financial income75/76B | - | €727 | €511 | €264 | €6,058 | ▲ 2,199% |
| Recurring financial income75 | €839 | €727 | €511 | €264 | €6,058 | ▲ 2,199% |
| Financial charges65/66B | - | €683 | €791 | €240 | €192 | ▼ 20.2% |
| Recurring financial charges65 | €784 | €683 | €791 | €240 | €192 | ▼ 20.2% |
| Profit (loss) for the period before taxes9903 | €104,322 | €87,363 | €55,446 | €71,046 | €67,226 | ▼ 5.4% |
| Income taxes67/77 | €26,053 | €28,434 | €16,925 | €17,292 | €15,653 | ▼ 9.5% |
| Profit (loss) for the period9904 | €78,268 | €58,929 | €38,520 | €53,754 | €51,573 | ▼ 4.1% |
| Profit (loss) for the period to be appropriated9905 | €78,268 | €58,929 | €38,520 | €53,754 | €51,573 | ▼ 4.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €299,425 | €308,748 | €340,174 | €367,506 | €390,330 | ▲ 6.2% |
| Fixed assets21/28 | €99,426 | €75,623 | €81,092 | €55,692 | €31,952 | ▼ 42.6% |
| Tangible fixed assets22/27 | €99,226 | €75,423 | €80,892 | €55,492 | €31,752 | ▼ 42.8% |
| Plant, machinery and equipment23 | - | €3,347 | €3,705 | €5,635 | €5,419 | ▼ 3.8% |
| Furniture and vehicles24 | - | €72,076 | €77,187 | €49,858 | €26,334 | ▼ 47.2% |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €200 | = |
| Current assets29/58 | €199,998 | €233,125 | €259,082 | €311,814 | €358,378 | ▲ 14.9% |
| Amounts receivable after more than one year29 | - | €15,000 | €15,399 | €215,601 | €283,431 | ▲ 31.5% |
| Other amounts receivable291 | - | €15,000 | €15,399 | €215,601 | €283,431 | ▲ 31.5% |
| Stocks and contracts in progress3 | €7,310 | €5,988 | €5,988 | €0 | - | - |
| Stocks30/36 | - | €5,988 | €5,988 | €0 | - | - |
| Amounts receivable within one year40/41 | €87,285 | €14,268 | €70,294 | €73,566 | €68,979 | ▼ 6.2% |
| Trade receivables40 | - | €14,268 | €59,576 | €63,145 | €59,588 | ▼ 5.6% |
| Other amounts receivable41 | - | - | €10,718 | €10,421 | €9,391 | ▼ 9.9% |
| Cash at bank and in hand54/58 | €89,305 | €195,310 | €166,940 | €21,539 | €5,068 | ▼ 76.5% |
| Deferred charges and accrued income490/1 | - | €2,559 | €461 | €1,108 | €900 | ▼ 18.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €299,425 | €308,748 | €340,174 | €367,506 | €390,330 | ▲ 6.2% |
| Equity10/15 | €182,885 | €241,814 | €280,335 | €322,589 | €205,588 | ▼ 36.3% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €159,433 | €218,363 | €256,883 | €299,137 | €182,136 | ▼ 39.1% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | €216,503 | €255,023 | €299,137 | €182,136 | ▼ 39.1% |
| Profit (loss) carried forward14 | €4,851 | €4,851 | €4,851 | €4,851 | €4,851 | = |
| Amounts payable17/49 | €116,540 | €66,934 | €59,840 | €44,918 | €184,742 | ▲ 311% |
| Amounts payable after more than one year17 | €41,296 | €25,344 | €15,290 | €15,290 | €0 | ▼ 100% |
| Financial debts170/4 | - | €25,344 | €15,290 | €15,290 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €75,244 | €41,590 | €44,550 | €29,628 | €184,742 | ▲ 524% |
| Current portion of amounts payable after more than one year42 | - | €15,953 | €10,054 | €0 | €5,125 | - |
| Trade debts44 | €16,356 | €3,853 | €10,047 | €4,750 | €4,404 | ▼ 7.3% |
| Suppliers440/4 | - | €3,853 | €10,047 | €4,750 | €4,404 | ▼ 7.3% |
| Taxes, remuneration and social security45 | - | €18,871 | €24,449 | €13,379 | €6,640 | ▼ 50.4% |
| Taxes450/3 | - | €18,871 | €11,449 | €10,379 | €6,640 | ▼ 36.0% |
| Remuneration and social security454/9 | - | - | €13,000 | €3,000 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €2,914 | €0 | €11,500 | €168,573 | ▲ 1,366% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78,268 | €58,929 | €38,520 | €53,754 | €51,573 | ▼ 4.1% |
| + Depreciation and write-downs630 | €14,856 | €23,804 | €26,978 | €29,848 | €29,296 | ▼ 1.8% |
| Operating cash flow (approximation) | €93,124 | €82,733 | €65,499 | €83,602 | €80,869 | ▼ 3.3% |
| Investment in fixed assets (approximation) | - | €0 | -€32,448 | -€4,448 | -€5,556 | ▼ 24.9% |
| Change in cash | - | €106,005 | -€28,370 | -€145,401 | -€16,471 | ▲ 88.7% |
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
31-03
State Gazette act
General meeting · Statutes amendment
Capital · Director resignation · Eric De Bie
05-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
09-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
15-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Liquidity doublescurrent ratio 5.61
Current ratio from 2.66 to 5.61; short-term debt falls from €75,244 to €41,590.
30-06
Financial
Equity above €200,000Eq €241,814 ▲32.2%
4 profitable years in a row build equity to €241,814.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Highest result since 2019net €78,268 ▲82.1%
Operating result €93,721, net result €78,268, both a record.
30-06
Financial
Equity above €150,000Eq €182,885 ▲66.8%
3 profitable years in a row build equity to €182,885.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Equity above €100,000Eq €109,616 ▲48.9%
2 profitable years in a row build equity to €109,616.
Show earlier events
27-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Zandhoven · 1 establishment unit since 2004
Ground area
527 m²
Building footprint
130 m²
Volume, LiDAR
793 m³
Parcel 11034B0481/00K002, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
ASR
since 20042.135.644.941
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11034B0481/00K002 | Flanders | 527 m² | 1 · 130 m² | 10.0 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.
Similar companies · same sector, comparable size
FDK Schrijnwerk
BE 0684.951.840
Brugge · Eq €205,579
VROLIX METAALBEWERKING
BE 0738.616.594
Peer · Eq €205,500
VC-afsluitingen
BE 0637.904.365
Kortemark · Eq €205,422
LUC VAN OOTEGEM
BE 0876.579.102
Maldegem · Eq €205,330
Schrijnwerkerij Verplancke
BE 0633.496.013
Jabbeke · Eq €205,915
Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,385 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
Founded16-02-2004
Fiscal year end30-06
Activities, NACEBEL 2025
43320Joinery installation
43350Other building finishing work
68110Buying and selling of own real estate
68121Development of residential building projects
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0863443322
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.