BEL
ActiveSummary
The computed 12-month bankruptcy probability of BEL is 1.7% (moderate). The 2025 annual accounts show negative equity (-€6,457) and a net result of -€1,647. Equity is shrinking by ~32.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 403 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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Signals
Five 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 2025Age of the figures
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% 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
1819202122232425
2018 to 2025 · latest year -€6,457
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
92 d late
2023
202 d late
2022
on the day
2021
31 d late
2020
30 d early
2019
62 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 38 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% 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, abbreviated schema
Equity
-€6,457▼ 34.2%
2024 · -€4,810
Total assets
€421▼ 91.3%
2024 · €4,842
Net result
-€1,647
2024 · €5,752
Working capital
-€6,457▼ 34.2%
2024 · -€4,810
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€4,612▼ 802%€10,557-€21,062€5,811-€1,556
Net result-€4,705▼ 710%€10,515-€21,138€5,752-€1,647
Equity€61▼ 98.7%€10,576▲ 17,239%-€10,562-€4,810▲ 54.5%-€6,457▼ 34.2%
Total assets€6,280▲ 16.0%€18,049▲ 187%€39,551▲ 119%€4,842▼ 87.8%€421▼ 91.3%
Debt€6,219▲ 857%€7,473▲ 20.2%€50,113▲ 571%€9,652▼ 80.7%€6,877▼ 28.7%
Working capital€61▼ 98.7%€10,576▲ 17,239%-€10,562-€4,810▲ 54.5%-€6,457▼ 34.2%
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 turns negative in 2025: a loss of €1,556 after €5,811 in 2024.
Key figures and ratios
Debt ≤ 1 year
€6,877▼
2024 · €9,652
Ratios withheld: a balance sheet total of €421 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,943 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% 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 6,943 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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €695 | €2,148 | €384 | - | - | - |
| Gross operating margin9900 | -€3,917 | €12,704 | -€20,677 | €5,811 | -€1,556 | ▼ 127% |
| Operating profit (loss)9901 | -€4,612 | €10,557 | -€21,062 | €5,811 | -€1,556 | ▼ 127% |
| Financial income75/76B | - | €0 | - | - | - | - |
| Recurring financial income75 | - | €0 | - | - | - | - |
| Financial charges65/66B | €93 | €42 | €77 | €59 | €91 | ▲ 53.3% |
| Recurring financial charges65 | €93 | €42 | €77 | €59 | €91 | ▲ 53.3% |
| Profit (loss) for the period before taxes9903 | -€4,705 | €10,515 | -€21,138 | €5,752 | -€1,647 | ▼ 129% |
| Profit (loss) for the period9904 | -€4,705 | €10,515 | -€21,138 | €5,752 | -€1,647 | ▼ 129% |
| Profit (loss) for the period to be appropriated9905 | -€4,705 | €10,515 | -€21,138 | €5,752 | -€1,647 | ▼ 129% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6,280 | €18,049 | €39,551 | €4,842 | €421 | ▼ 91.3% |
| Current assets29/58 | €6,280 | €18,049 | €39,551 | €4,842 | €421 | ▼ 91.3% |
| Amounts receivable within one year40/41 | €6,034 | €3,681 | €15,645 | €4,535 | €226 | ▼ 95.0% |
| Trade receivables40 | €1,800 | - | €12,143 | €1,029 | - | - |
| Other amounts receivable41 | €4,234 | €3,681 | €3,502 | €3,507 | €226 | ▼ 93.6% |
| Cash at bank and in hand54/58 | €247 | €14,368 | €23,906 | €307 | €194 | ▼ 36.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6,280 | €18,049 | €39,551 | €4,842 | €421 | ▼ 91.3% |
| Equity10/15 | €61 | €10,576 | -€10,562 | -€4,810 | -€6,457 | ▼ 34.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | - | - | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€18,539 | -€8,024 | -€29,162 | -€23,410 | -€25,057 | ▼ 7.0% |
| Amounts payable17/49 | €6,219 | €7,473 | €50,113 | €9,652 | €6,877 | ▼ 28.7% |
| Amounts payable within one year42/48 | €6,219 | €7,473 | €50,113 | €9,652 | €6,877 | ▼ 28.7% |
| Trade debts44 | - | €5,542 | €38,184 | €1,059 | €48 | ▼ 95.5% |
| Suppliers440/4 | - | €5,542 | €38,184 | €1,059 | €48 | ▼ 95.5% |
| Taxes, remuneration and social security45 | - | - | €10,405 | - | - | - |
| Taxes450/3 | - | - | €10,405 | - | - | - |
| Other amounts payable47/48 | €6,219 | €1,931 | €1,524 | €8,594 | €6,829 | ▼ 20.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,705 | €10,515 | -€21,138 | €5,752 | -€1,647 | ▼ 129% |
| Operating cash flow (approximation) | -€4,705 | €10,515 | -€21,138 | €5,752 | -€1,647 | ▼ 129% |
| Change in cash | - | €14,121 | €9,538 | -€23,599 | -€113 | ▲ 99.5% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 92 days late
18-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 202 days late
2024
31-12
Financial
Back to profitnet €5,752
Net result €5,752 after one loss-making year.
2023
31-12
Financial
Weakest financial yearnet -€21,138
Net result drops to -€21,138, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €10,515
Net result €10,515 after 4 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 2.42
Current ratio from 1.01 to 2.42.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
07-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 7 days late
2018
24-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 153 days late
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
4 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, Lubbeek · 1 establishment unit since 2015
Ground area
4,976 m²
Building footprint
2,817 m²
Volume, LiDAR
11,677 m³
Parcel 24063B0182/00F005, Flanders · tallest building 16.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Endepoelstraat(LIN) 3A, 3210 Lubbeek
since 20152.245.150.320
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24063B0182/00F005 | Flanders | 4,976 m² | 1 · 2,817 m² | 16.0 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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Of 393 companies in sector 42990 we hold annual accounts for 182. 89 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
Founded30-05-2013
Fiscal year end31-12
Activities, NACEBEL 2025
42990Civil engineering
37000Sewerage
38320Waste collection, recovery and disposal activities
39000Remediation activities and other waste management service activities
43230Insulation installation
81230Other cleaning activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0534823257
Registered
11-06-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.