BR-94
ActiveSummary
The computed 12-month bankruptcy probability of BR-94 is 3.6% (moderate). The 2024 annual accounts show equity of €74,058 and a net result of €6,688. Equity is growing by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 95% of 9974 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability70▼-3
Solvency100▲+6
Growth42▼-6
Track record100
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 7.88 against 2.4 in 2023; short-term debt: 9.6% and cash: 6.2% of total assets), and 9.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-09-2025, 58 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
58 d late
2023
58 d late
2022
4 d late
2021
73 d late
2020
475 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 134 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
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
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
€181,645▼ 17.0%
2023 · €218,975
EBIT margin
5.7%▼ 0.5pp
2023 · 6.2%
Net result
€6,688▼ 36.9%
2023 · €10,600
Working capital
€54,342▲ 26.1%
2023 · €43,104
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line20202021202220232024
Turnover€208,578-€129,314▼ 38.0%€139,841▲ 8.1%€218,975▲ 56.6%€181,645▼ 17.0%
Operating result€55,307--€1,876€743€13,617▲ 1,732%€10,374▼ 23.8%
Net result€55,216above the sector's middle half--€2,027below the sector's middle half€581within the sector's middle half€10,600within the sector's middle half▲ 1,725%€6,688within the sector's middle half▼ 36.9%
EBIT margin26.5%--1.5%▼ 28.0pp0.5%▲ 2.0pp6.2%▲ 5.7pp5.7%▼ 0.5pp
Equity€58,216within the sector's middle half-€56,189within the sector's middle half▼ 3.5%€56,770within the sector's middle half▲ 1.0%€67,370within the sector's middle half▲ 18.7%€74,058within the sector's middle half▲ 9.9%
Total assets€66,515within the sector's middle half-€72,914within the sector's middle half▲ 9.6%€68,936within the sector's middle half▼ 5.5%€98,170within the sector's middle half▲ 42.4%€81,958within the sector's middle half▼ 16.5%
Debt€8,299-€16,725▲ 102%€12,166▼ 27.3%€30,800▲ 153%€7,900▼ 74.4%
Working capital€11,554-€22,537▲ 95.1%€31,658▲ 40.5%€43,104▲ 36.2%€54,342▲ 26.1%
Solvency87.5%above the sector's middle half-77.1%above the sector's middle half▼ 10.5pp82.4%above the sector's middle half▲ 5.3pp68.6%above the sector's middle half▼ 13.7pp90.4%above the sector's middle half▲ 21.7pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 2024; 2024 is 24% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €81,958
Fixed assets
€19,716 ▼ 18.8%
Current assets
€62,242 ▼ 15.8%
Equity and liabilities €81,958
Equity
€74,058 ▲ 9.9%
Debt
€7,900 ▼ 74.4%
Debt's share of the balance-sheet total falls from 31.4% to 9.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€14,924▼
2023 · €18,585
Cash flow
€11,238▼
2023 · €15,568
Current ratio
7.88▲
2023 · 2.40
Debt to equity
0.11▼
2023 · 0.46
ROE
9.0%▼
2023 · 15.7%
ROA
8.2%▼
2023 · 10.8%
Interest coverage
68.71▼
2023 · 83.17
Debt ≤ 1 year
€7,900▼
2023 · €30,800
Income taxes
€3,469▲
2023 · €2,793
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 3.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 26,964 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €208,578 | €129,314 | €139,841 | €218,975 | €181,645 | ▼ 17.0% |
| Goods, raw materials, services and sundry goods60/61 | €133,521 | €124,449 | €124,485 | €199,217 | €165,131 | ▼ 17.1% |
| Remuneration, social security and pensions62 | - | €78 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,748 | €4,164 | €13,264 | €4,968 | €4,550 | ▼ 8.4% |
| Other operating charges640/8 | €8,003 | €2,499 | €1,348 | €1,172 | €1,589 | ▲ 35.6% |
| Gross operating margin9900 | €75,057 | €4,865 | €15,356 | €19,757 | €16,513 | ▼ 16.4% |
| Operating profit (loss)9901 | €55,307 | -€1,876 | €743 | €13,617 | €10,374 | ▼ 23.8% |
| Financial charges65/66B | €91 | €151 | €162 | €223 | €217 | ▼ 2.8% |
| Recurring financial charges65 | €91 | €151 | €162 | €223 | €217 | ▼ 2.8% |
| Profit (loss) for the period before taxes9903 | €55,216 | -€2,027 | €581 | €13,394 | €10,157 | ▼ 24.2% |
| Income taxes67/77 | - | - | - | €2,793 | €3,469 | ▲ 24.2% |
| Profit (loss) for the period9904 | €55,216 | -€2,027 | €581 | €10,600 | €6,688 | ▼ 36.9% |
| Profit (loss) for the period to be appropriated9905 | €55,216 | -€2,027 | €581 | €10,600 | €6,688 | ▼ 36.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €66,515 | €72,914 | €68,936 | €98,170 | €81,958 | ▼ 16.5% |
| Fixed assets21/28 | €46,662 | €42,498 | €29,234 | €24,266 | €19,716 | ▼ 18.8% |
| Tangible fixed assets22/27 | €46,662 | €42,498 | €29,234 | €24,266 | €19,716 | ▼ 18.8% |
| Furniture and vehicles24 | €46,662 | €42,498 | €29,234 | €24,266 | €19,716 | ▼ 18.8% |
| Current assets29/58 | €19,853 | €30,416 | €39,702 | €73,904 | €62,242 | ▼ 15.8% |
| Amounts receivable within one year40/41 | €10,350 | €28,368 | €39,144 | €63,067 | €57,145 | ▼ 9.4% |
| Trade receivables40 | €5,820 | €22,936 | €17,116 | €17,116 | €33,610 | ▲ 96.4% |
| Other amounts receivable41 | €4,530 | €5,432 | €22,028 | €45,951 | €23,534 | ▼ 48.8% |
| Cash at bank and in hand54/58 | €9,503 | €2,047 | €558 | €10,837 | €5,097 | ▼ 53.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €66,515 | €72,914 | €68,936 | €98,170 | €81,958 | ▼ 16.5% |
| Equity10/15 | €58,216 | €56,189 | €56,770 | €67,370 | €74,058 | ▲ 9.9% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €55,216 | €53,189 | €53,770 | €64,370 | €71,058 | ▲ 10.4% |
| Amounts payable17/49 | €8,299 | €16,725 | €12,166 | €30,800 | €7,900 | ▼ 74.4% |
| Amounts payable after more than one year17 | - | - | €4,122 | - | - | - |
| Financial debts170/4 | - | - | €4,122 | - | - | - |
| Amounts payable within one year42/48 | €8,299 | €7,879 | €8,044 | €30,800 | €7,900 | ▼ 74.4% |
| Trade debts44 | €379 | €7,879 | €8,044 | - | - | - |
| Suppliers440/4 | €379 | €7,879 | €8,044 | - | - | - |
| Advances received on contracts in progress46 | €7,920 | - | - | €30,800 | €7,900 | ▼ 74.4% |
| Accrued charges and deferred income492/3 | - | €8,846 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55,216 | -€2,027 | €581 | €10,600 | €6,688 | ▼ 36.9% |
| + Depreciation and write-downs630 | €11,748 | €4,164 | €13,264 | €4,968 | €4,550 | ▼ 8.4% |
| Operating cash flow (approximation) | €66,964 | €2,137 | €13,845 | €15,568 | €11,238 | ▼ 27.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€7,456 | -€1,490 | €10,279 | -€5,740 | ▼ 156% |
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
2025
27-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 58 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 7.88
Current ratio from 2.40 to 7.88; short-term debt falls from €30,800 to €7,900.
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2023
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 4 days late
2022
31-12
Financial
Back to profitnet €581
Net result €581 after one loss-making year.
18-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 475 days late
12-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 73 days late
2021
31-12
Financial
Weakest financial yearnet -€2,027
Net result drops to -€2,027, the lowest in the series; recovery starts the following year.
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, Etterbeek
Ground area
124 m²
Building footprint
125 m²
Volume, LiDAR
1,476 m³
Parcel 21362B0112/02P004, Brussels · tallest building 13.6 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21362B0112/02P004 | Brussels | 123 m² | 1 · 125 m² | 13.6 m · 4 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 29,787 companies in sector 41001 we hold annual accounts for 16,042. 13,223 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
Founded09-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0735907425
Also
9925:BE0735907425
Registered
27-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.