COLSAN
ActiveCOLSAN has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.21M and a net result of €293k. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 24% of 4827 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
76
/ 100
Excellent▼ -11 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+74
Solvency41▼-54
Growth78=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity tight (current ratio 1.46 against 1.98 in 2024), and 77.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 25
Relative position
BE, all sectors
reference
Sector 25
higher
← 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
22.2%
Return on assets
5.4%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 4827 sector peers (2025).
NBB · sector comparisonPosition among 4827 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 10-08-2026, 10 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
10 d late
2024
4 d late
2023
40 d early
2022
40 d early
2021
72 d early
2020
44 d early
2019
4 d early
← before the deadline
after the deadline →
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€293k▲ 523%
2024 · €47k
2018: €-6k
2019: €31k
2020: €-28k
2021: €-23k
2022: €352k
2023: €36k
2024: €47k
2018 → 2025
Working capital
€1.68M▲ 97.5%
2024 · €848k
2018: €847k
2019: €843k
2020: €776k
2021: €685k
2022: €941k
2023: €847k
2024: €848k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€481k-€834k▲ 73.2%€870k▲ 4.3%€917k▲ 5.4%€1.21M▲ 32.0%
Operating result€-18k-€479k€55k▼ 88.5%€77k▲ 39.2%€407k▲ 429%
Net result€-23k-€352k€36k▼ 89.8%€47k▲ 31.0%€293k▲ 523%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 429% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.44M
Fixed assets
€89k▼ 27.5%
Current assets
€5.35M▲ 212%
Equity and liabilities €5.44M
Equity
€1.21M▲ 32.0%
Debt
€4.23M▲ 359%
The debt ratio rises from 50.2% to 77.8%: debt grows faster than equity.
Key figures and ratios
EBITDA
€440k▲
2024 · €102k
Cash flow
€327k▲
2024 · €72k
Solvency
22.2%▼
2024 · 49.8%
Current ratio
1.46▼
2024 · 1.98
Quick ratio
1.37▼
2024 · 1.39
Debt / equity
3.50▲
2024 · 1.01
ROE
24.2%▲
2024 · 5.1%
ROA
5.4%▲
2024 · 2.6%
Interest coverage
111.92▲
2024 · 10.75
Debt
€4.23M▲
2024 · €923k
Debt ≤ 1 year
€3.68M▲
2024 · €868k
Debt > 1 year
€33k▼
2024 · €53k
Income taxes
€111k▲
2024 · €23k
Staff costs
€495k▲
2024 · €453k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.84M€5.44M▲
Fixed assets21/28€123k€89k▼
Tangible fixed assets22/27€123k€89k▼
Plant, machinery and equipment23€35k€24k▼
Furniture and vehicles24€68k€51k▼
Leasing and similar rights25€20k€14k▼
Current assets29/58€1.72M€5.35M▲
Stocks and contracts in progress3€507k€330k▼
Stocks30/36€507k€330k▼
Amounts receivable within one year40/41€1.18M€5.00M▲
Trade receivables40€1.14M€4.97M▲
Other amounts receivable41€43k€29k▼
Cash at bank and in hand54/58€24k€16k▼
Deferred charges and accrued income490/1€736€5k▲
Equity and liabilities
Total equity and liabilities10/49€1.84M€5.44M▲
Equity10/15€917k€1.21M▲
Contributions10/11€225k€225k=
Capital10€225k€225k=
Issued capital100€225k€225k=
Reserves13€223k€223k=
Non-distributable reserves130/1€23k€23k=
Legal reserve130€23k€23k=
Distributable reserves133€200k€200k=
Profit (loss) carried forward14€469k€763k▲
Amounts payable17/49€923k€4.23M▲
Amounts payable after more than one year17€53k€33k▼
Financial debts170/4€53k€33k▼
Amounts payable within one year42/48€868k€3.68M▲
Current portion of amounts payable after more than one year42€91k€20k▼
Financial debts43-€17k
Credit institutions430/8-€17k
Trade debts44€619k€460k▼
Suppliers440/4€619k€460k▼
Advances received on contracts in progress46-€3k
Taxes, remuneration and social security45€70k€173k▲
Taxes450/3€34k€134k▲
Remuneration and social security454/9€36k€39k▲
Other amounts payable47/48€88k€3.00M▲
Accrued charges and deferred income492/3€2k€521k▲
Income statement
Code20242025
Non-recurring operating income76A-€209
Remuneration, social security and pensions62€453k€495k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€34k▲
Other operating charges640/8€16k€17k▲
Non-recurring operating charges66A-€4k
Gross operating margin9900€571k€957k▲
Operating profit (loss)9901€77k€407k▲
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€10k€4k▼
Recurring financial charges65€10k€4k▼
Profit (loss) for the period before taxes9903€70k€404k▲
Income taxes67/77€23k€111k▲
Profit (loss) for the period9904€47k€293k▲
Profit (loss) for the period to be appropriated9905€47k€293k▲
Appropriation of the result
Profit (loss) to be appropriated9906€469k€763k▲
Profit (loss) brought forward from the previous period14P€422k€469k▲
Social balance
Average headcount (FTE)90878.39.6▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 10 days late
2025
31-12
Financial
Equity above €1MEq €1.21M ▲32%
4 profitable years in a row build equity to €1.21M.
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €352k
Net result €352k after 2 loss-making years.
31-12
Financial
Equity above €500kEq €834k ▲73.2%
Equity rises from €481k to €834k.
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €-28k ▼193%
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €31k
Net result €31k after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Courcelles · 1 establishment unit since 2004
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de Liège(CO) 16180 CourcellesGround area
1.0 ha
Building footprint
5,380 m²
Parcel 52322A0144/00E004, Wallonia. Linked by address, not a title deed.
1 establishment unit
COLSAN
since 20042.136.619.889
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52322A0144/00E004 | Wallonia | 1.0 ha | 1 · 5,380 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
MAES METAL
BE 0405.443.766
Ardooie · Eq €1.22M
ANDRE-ZINC
BE 0401.371.053
Namur · Eq €1.23M
LAROB
BE 0428.126.326
Brecht · Eq €1.24M
Verco-Versichele
BE 0401.058.871
Deinze · Eq €1.17M
MULTI SERVICE DECOUPE
BE 0447.345.885
Charleroi · Eq €1.27M
Of 555 companies in sector 25999 we hold annual accounts for 348. 231 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-04-2004
Fiscal year end31-12
Activities, NACEBEL
25999Manufacture of fabricated metal products, except machinery and equipment
46851Wholesale of industrial chemicals
51550
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.