B-visible
ActiveSummary
B-visible has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €17,358 and a net result of €30,046. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 24% of 28806 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency47▲+47
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.95 against 0.47 in 2024; short-term debt: 77.5% and cash: 9.1% of total assets), and 77.5% of the assets are financed with debt.
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Signals
Five 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
22.5%
Return on assets
38.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 28806 sector peers (2025).
NBB · sector comparisonPosition among 28806 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 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
5 d late
2024
1 d early
2023
29 d late
2022
59 d late
2021
31 d late
2020
62 d late
2019
40 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 32 days after 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 30 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€17,358
2024 · -€12,689
Total assets
€77,294▲ 225%
2024 · €23,764
Net result
€30,046
2024 · -€15,898
Working capital
-€3,260▲ 83.2%
2024 · -€19,403
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€7,148€66,778▲ 834%-€4,274-€14,238▼ 233%€30,473
Net result-€3,455below the sector's middle half▲ 95.3%€47,843within the sector's middle half-€8,237below the sector's middle half-€15,898below the sector's middle half▼ 93.0%€30,046above the sector's middle half
Equity-€36,397below the sector's middle half▼ 10.5%€11,446below the sector's middle half€3,210below the sector's middle half▼ 72.0%-€12,689below the sector's middle half€17,358below the sector's middle half
Total assets€418,289within the sector's middle half▲ 367%€112,210below the sector's middle half▼ 73.2%€81,557below the sector's middle half▼ 27.3%€23,764below the sector's middle half▼ 70.9%€77,294within the sector's middle half▲ 225%
Debt€454,686▲ 271%€100,763▼ 77.8%€78,348▼ 22.2%€36,453▼ 53.5%€59,937▲ 64.4%
Working capital-€29,434below the sector's middle half▼ 11.9%€11,338below the sector's middle half-€1,380below the sector's middle half-€19,403below the sector's middle half▼ 1,306%-€3,260below the sector's middle half▲ 83.2%
Solvency-8.7%below the sector's middle half▲ 28.0pp10.2%below the sector's middle half▲ 18.9pp3.9%below the sector's middle half▼ 6.3pp-53.4%below the sector's middle half▼ 57.3pp22.5%below the sector's middle half▲ 75.9pp
Current ratio0.93below the sector's middle half▲ 0.211.12below the sector's middle half▲ 0.180.98below the sector's middle half▼ 0.140.47below the sector's middle half▼ 0.510.95below the sector's middle half▲ 0.48
Return on assets (ROA)-0.8%below the sector's middle half▲ 81.3pp42.6%above the sector's middle half▲ 43.5pp-10.1%below the sector's middle half▼ 52.7pp-66.9%below the sector's middle half▼ 56.8pp38.9%above the sector's middle half▲ 105.8pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €30,473 after a loss of €14,238 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €77,294
Fixed assets
€20,618 ▲ 207%
Current assets
€56,677 ▲ 232%
Equity and liabilities €77,294
Equity
€17,358
Debt
€59,937
Debt finances 77.5% of the balance-sheet total.
Key figures and ratios
EBITDA
€34,092▲
2024 · -€12,652
Cash flow
€33,665▲
2024 · -€14,312
Debt to equity
3.45
ROE
173.1%
Interest coverage
115.09▲
2024 · -7.84
Debt ≤ 1 year
€59,937▲
2024 · €36,453
Income taxes
€132▼
2024 · €140
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,053 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.4%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,341 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% | 1.8% |
| 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 5,053 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1,500 | €0 | - | - | €1,240 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,353 | €444 | €951 | €1,586 | €3,618 | ▲ 128% |
| Other operating charges640/8 | €846 | €13,808 | €761 | €1,275 | €1,067 | ▼ 16.3% |
| Non-recurring operating charges66A | €3,336 | €92 | €169 | - | €2,910 | - |
| Gross operating margin9900 | €20,682 | €81,122 | -€2,393 | -€11,377 | €38,069 | ▲ 435% |
| Operating profit (loss)9901 | €7,148 | €66,778 | -€4,274 | -€14,238 | €30,473 | ▲ 314% |
| Financial income75/76B | €93 | €836 | €1,764 | €93 | €1 | ▼ 98.9% |
| Recurring financial income75 | €93 | €836 | €1,764 | €93 | €1 | ▼ 98.9% |
| Financial charges65/66B | €10,579 | €18,931 | €5,604 | €1,614 | €296 | ▼ 81.7% |
| Recurring financial charges65 | €10,579 | €18,931 | €5,604 | €1,614 | €296 | ▼ 81.7% |
| Profit (loss) for the period before taxes9903 | -€3,338 | €48,683 | -€8,114 | -€15,759 | €30,178 | ▲ 292% |
| Income taxes67/77 | €117 | €840 | €123 | €140 | €132 | ▼ 5.4% |
| Profit (loss) for the period9904 | -€3,455 | €47,843 | -€8,237 | -€15,898 | €30,046 | ▲ 289% |
| Profit (loss) for the period to be appropriated9905 | -€3,455 | €47,843 | -€8,237 | -€15,898 | €30,046 | ▲ 289% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €418,289 | €112,210 | €81,557 | €23,764 | €77,294 | ▲ 225% |
| Fixed assets21/28 | €2,271 | €4,656 | €5,928 | €6,714 | €20,618 | ▲ 207% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €2,211 | €4,596 | €5,868 | €6,554 | €20,518 | ▲ 213% |
| Plant, machinery and equipment23 | €2,211 | €4,596 | €5,868 | €6,554 | €6,589 | ▲ 0.5% |
| Furniture and vehicles24 | €0 | - | - | - | €13,929 | - |
| Financial fixed assets28 | €60 | €60 | €60 | €160 | €100 | ▼ 37.5% |
| Current assets29/58 | €416,018 | €107,553 | €75,630 | €17,050 | €56,677 | ▲ 232% |
| Stocks and contracts in progress3 | €12,009 | €9,000 | €2,618 | €2,618 | - | - |
| Stocks30/36 | €12,009 | €9,000 | €2,618 | €2,618 | - | - |
| Amounts receivable within one year40/41 | €280,944 | €82,674 | €66,530 | €8,652 | €49,012 | ▲ 467% |
| Trade receivables40 | €278,500 | €50,278 | €16,780 | €7,806 | €37,188 | ▲ 376% |
| Other amounts receivable41 | €2,443 | €32,396 | €49,750 | €846 | €11,824 | ▲ 1,298% |
| Cash at bank and in hand54/58 | €121,688 | €14,760 | €6,236 | €5,780 | €7,001 | ▲ 21.1% |
| Deferred charges and accrued income490/1 | €1,377 | €1,119 | €246 | - | €664 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €418,289 | €112,210 | €81,557 | €23,764 | €77,294 | ▲ 225% |
| Equity10/15 | -€36,397 | €11,446 | €3,210 | -€12,689 | €17,358 | ▲ 237% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€54,997 | -€7,154 | -€15,390 | -€31,289 | -€1,242 | ▲ 96.0% |
| Amounts payable17/49 | €454,686 | €100,763 | €78,348 | €36,453 | €59,937 | ▲ 64.4% |
| Amounts payable after more than one year17 | €8,419 | €3,989 | €1,338 | - | - | - |
| Financial debts170/4 | €8,419 | €3,989 | €1,338 | - | - | - |
| Amounts payable within one year42/48 | €445,452 | €96,215 | €77,009 | €36,453 | €59,937 | ▲ 64.4% |
| Current portion of amounts payable after more than one year42 | €17,960 | €4,430 | €2,651 | €1,338 | €5,028 | ▲ 276% |
| Financial debts43 | €25,000 | €0 | - | - | - | - |
| Credit institutions430/8 | €25,000 | €0 | - | - | - | - |
| Trade debts44 | €327,374 | €44,378 | €13,875 | €3,212 | €33,926 | ▲ 956% |
| Suppliers440/4 | €327,374 | €44,378 | €13,875 | €3,212 | €33,926 | ▲ 956% |
| Advances received on contracts in progress46 | €0 | €2,355 | €0 | - | - | - |
| Taxes, remuneration and social security45 | €7,350 | €5,149 | €9 | €801 | €3,350 | ▲ 318% |
| Taxes450/3 | €7,350 | €5,149 | €9 | €801 | €3,350 | ▲ 318% |
| Other amounts payable47/48 | €67,769 | €39,904 | €60,475 | €31,102 | €17,633 | ▼ 43.3% |
| Accrued charges and deferred income492/3 | €814 | €559 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,455 | €47,843 | -€8,237 | -€15,898 | €30,046 | ▲ 289% |
| + Depreciation and write-downs630 | €9,353 | €444 | €951 | €1,586 | €3,618 | ▲ 128% |
| Operating cash flow (approximation) | €5,897 | €48,287 | -€7,285 | -€14,312 | €33,665 | ▲ 335% |
| Investment in fixed assets (approximation) | - | -€2,829 | -€2,223 | -€2,372 | -€17,522 | ▼ 639% |
| Change in cash | - | -€106,928 | -€8,524 | -€456 | €1,221 | ▲ 368% |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
31-12
Financial
Back to profitnet €30,046
Net result €30,046 after 2 loss-making years.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 59 days late
2022
31-12
Financial
Back to profitnet €47,843
Net result €47,843 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
01-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 62 days late
2020
31-12
Financial
Weakest financial yearnet -€73,613
Net result drops to -€73,613, the lowest in the series; recovery starts the following year.
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 40 days late
2019
24-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Aalter · 1 establishment unit since 2012
Ground area
1,022 m²
Building footprint
275 m²
Volume, LiDAR
1,222 m³
Parcel 44009D0062/00C000, Flanders · tallest building 8.6 m, ±1 floor. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
B-visible
since 20122.206.572.925
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44009D0062/00C000 | Flanders | 1,022 m² | 1 · 275 m² | 8.6 m · 1 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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APEXIS
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Of 22,818 companies in this sector we hold annual accounts for 10,343. 6,910 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded28-12-2011
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
70200Business and other management consultancy
71111Activities of building architects
77110Renting and leasing of cars and light motor vehicles
77222Rental and leasing activities
90393Specialised image, lighting and sound technical services
93299Other amusement and recreation activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0842187949
Also
9925:BE0842187949
Registered
31-08-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.