Result
Back in profit in 2025, after a loss of €49,080 in 2024.
Back in profit in 2025, after a loss of €49,080 in 2024.
Of this, €93,546 falls due within a year.
Lower solvency than 90% of companies in specialised construction. Sector median 46.7% · 35,136 companies.
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 9% of them on solvency, 46% on liquidity, 26% on profitability and 97% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 2,135 companies had the same profile as CARDISOL has now. Each dot stands for 6 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CARDISOL itself: 1.5% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,135 companies, not a prediction for CARDISOL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 2 accounts on average 15 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CARDISOL Kluisbergen | €177,461 | €53,042 | 2.2% | - |
| LEVEL ART Uccle | €168,863 | €56,777 | 27.0% | - |
| Instafacade Meise | €207,656 | €44,985 | 13.6% | - |
| BELGYN Anderlecht | €200,711 | €64,973 | 27.0% | - |
| KDC DAKWERKEN Ghent | €250,658 | €51,169 | 59.0% | - |
| ALGEMENE BOUW- EN VLOERWERKEN WESLEY GABRIEL Waasmunster | €147,171 | €56,981 | 41.6% | - |
| Mitrovic Isolatie Antwerp | €161,067 | €70,637 | 31.8% | - |
These companies have the same main activity as CARDISOL: insulation installation (NACE 43230). They are comparable in size and age: total assets between €147,000 and €251,000, founded between 2022 and 2023.
CARDISOL has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,848 and a net result of €2,928.
Its solvency ranks better than 10% of 35,136 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €210,000. Estimated: probably between €150,000 and €300,000.
Higher than 10% of 35,136 companies in 2025.
Higher than 13% of 34,510 companies in 2025.
Higher than 31% of 34,711 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
177,461 | 229,014 | |
21/28 |
107,705 | 138,286 | |
21 |
26,600 | 30,100 | |
22/27 |
79,905 | 106,986 | |
23 |
40,713 | 56,280 | |
24 |
36,354 | 50,706 | |
26 |
2,838 | - | |
28 |
1,200 | 1,200 | |
29/58 |
69,756 | 90,728 | |
3 |
6,951 | 11,561 | |
30/36 |
6,951 | 11,561 | |
40/41 |
22,244 | 27,451 | |
40 |
15,970 | 21,184 | |
41 |
6,274 | 6,267 | |
54/58 |
39,873 | 50,640 | |
490/1 |
689 | 1,075 | |
| Balance sheet: equity and liabilities | |||
10/49 |
177,461 | 229,014 | |
10/15 |
3,848 | 920 | |
10/11 |
50,000 | 50,000 | |
14 |
-46,152 | -49,080 | |
17/49 |
173,613 | 228,093 | |
17 |
75,109 | 101,327 | |
170/4 |
75,109 | 101,327 | |
42/48 |
93,546 | 124,834 | |
42 |
27,621 | 24,930 | |
43 |
50,000 | 50,000 | |
430/8 |
50,000 | 50,000 | |
44 |
15,516 | 46,757 | |
440/4 |
15,516 | 46,757 | |
45 |
- | 2,448 | |
450/3 |
- | 2,448 | |
47/48 |
409 | 699 | |
492/3 |
4,958 | 1,932 | |
| Income statement | |||
9900 |
53,042 | 33,564 | |
630 |
33,470 | 47,509 | |
640/8 |
4,275 | 872 | |
9901 |
15,298 | -14,818 | |
75/76B |
6 | 0 | |
75 |
6 | 0 | |
65/66B |
12,376 | 34,262 | |
65 |
12,376 | 15,742 | |
66B |
- | 18,520 | |
9903 |
2,928 | -49,080 | |
9904 |
2,928 | -49,080 | |
9905 |
2,928 | -49,080 | |
| Appropriation of the result | |||
9906 |
-46,152 | -49,080 | |
14P |
-49,080 | - | |
| Document | |||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 48,767 | 32,692 | ||
| 36,397 | -1,570 | ||
| 2,888 | 219,316 | ||
| -10,767 | - | ||
| -23,790 | -34,106 | ||
| 2.2% | 0.4% | ||
| 0.75 | 0.73 | ||
| 0.67 | 0.63 | ||
| 45.12 | - | ||
| 76.1% | - | ||
| 1.6% | -21.4% | ||
| 3.94 | 2.08 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 |
|---|---|---|
| €250,000 | €250,000 |
Source: notes to the 2024 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €2,888 | €183,116 |
| Intangible fixed assets | - | €35,000 |
| Financial fixed assets | - | €1,200 |
| €33,470 | €47,509 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €15,298, after a loss of €14,818 in 2024.
Debt's share of the balance-sheet total falls from 99.6% to 97.8%. Equity is higher and debt is lower.
Source: lists of holdings in the owners' accounts
CARDISOL has no parent and no holdings in its annual accounts.
| SCIO
establishment since 02-02-2026 |
founded in 2026 1033.871.827 |
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Zulzekestraat 6 registered office 9690 Kluisbergen | 25-05-2023 | 2.345.466.928 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 45058A0003/00T000 | 1,450 m² | 1 · 103 m² | 9.6 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0802.129.028
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