CONDES
ActiveFrom the official registers: KBO 32 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
CONDES has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €201,894. Equity has been growing by about 13% per year since 2019. Its solvency ranks better than 93% of 9,883 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 15-04-1994 Normal situation
- Activity
- Joinery installation NACE 43320
- Establishment unit
- 2.066.633.302 3300 Tienen, since 03-05-1994
- Financial year end
- 31 December
- Peppol
- Reachable since 21-01-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €635,120
- ▼ 14.3%
- Turnover
- ≈ €1.9m
- estimated
- Profit
- €201,894
- ▼ 27.9%
- Equity
- €1.1m
- ▲ 16.7%
- Total assets
- €1.3m
- ▲ 6.7%
- Staff
- 5 FTE
- =
Score breakdownraises riskSector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 7.02, cash €374,207Equity €1.1m (87.3% of total assets)Founded in 1994Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 90% of them on solvency, 83% on liquidity, 74% on profitability and 64% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 62 days before 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.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-05-2026 PDF all 32 filings
2022 to 2025, 5 financial years 2019 to 2025, 8 financial years
Several financial years end in the same calendar year, so there is no annual trend.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Comparable companies
These companies have the same main activity as CONDES: joinery installation (NACE 43320). They are comparable in size and age: total assets between €988,000 and €1.6m, founded between 1984 and 1996.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| CONDES Tienen | 1994 | €1.3m | €1.1m | €0.6m | - | €0.2m | 5 | 2025 |
| CLEYS INTERIEUR Stekene | 1994 | €1.3m | €0.6m | €0.7m | - | €0.06m | 5.9 | 2025 |
| M.B. Beveren-Kruibeke-Zwijndrecht | 1995 | €1.3m | €0.8m | €0.8m | €2.2m | €0.2m | 4.6 | 2026 |
| VANDENBERGHE P&S Beernem | 1996 | €1.0m | €0.7m | €0.6m | - | €0.1m | 5.1 | 2025 |
| B.BRUSSELS Vilvoorde | 1990 | €1.4m | €0.1m | €0.5m | - | -€0.03m | 5.2 | 2025 |
| VIPER ENGINEERING Sint-Pieters-Leeuw | 1992 | €1.6m | €1.4m | €0.5m | - | €0.1m | 5 | 2025 |
| EUROPLAFOND Sint-Pieters-Leeuw | 1984 | €1.6m | €0.2m | €0.6m | - | -€0.04m | 5.5 | 2025 |
They were chosen from the 9,055 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 31,368 companies had the same profile as CONDES has now. Two years later, 0.5% had gone bankrupt and 93.5% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CONDES itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 31,368 companies, not a prediction for CONDES. 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €307,345 | €332,502 | €247,118 | €351,012 | €345,309 | ▼ 1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,359 | €38,782 | €25,445 | €24,184 | €29,881 | €17,025 | €24,007 | €28,126 | ▲ 17.2% |
| Other operating charges640/8 | - | - | - | €4,885 | €4,950 | €5,038 | €5,535 | €5,749 | ▲ 3.9% |
| Gross operating margin9900 | €490,633 | €415,176 | €491,099 | €432,810 | €559,712 | €532,611 | €741,059 | €635,120 | ▼ 14.3% |
| Operating profit (loss)9901 | €165,115 | €74,029 | €154,653 | €96,397 | €192,378 | €263,430 | €360,505 | €255,935 | ▼ 29.0% |
| Financial income75/76B | - | - | - | €115 | €342 | €6,589 | €16,335 | €14,129 | ▼ 13.5% |
| Recurring financial income75 | €36 | €187 | €3,120 | €115 | €342 | €6,589 | €16,335 | €14,129 | ▼ 13.5% |
| Financial charges65/66B | - | - | - | €1,331 | €656 | €509 | €600 | €645 | ▲ 7.5% |
| Recurring financial charges65 | €2,850 | €2,111 | €2,001 | €1,331 | €656 | €509 | €600 | €645 | ▲ 7.5% |
| Profit (loss) for the period before taxes9903 | €164,275 | €72,105 | €155,772 | €95,181 | €192,065 | €269,510 | €376,240 | €269,419 | ▼ 28.4% |
| Income taxes67/77 | €56,673 | €26,431 | €49,661 | €24,304 | €46,600 | €68,173 | €96,404 | €67,525 | ▼ 30.0% |
| Profit (loss) for the period9904 | €107,602 | €45,674 | €106,111 | €70,877 | €145,465 | €201,337 | €279,836 | €201,894 | ▼ 27.9% |
| Profit (loss) for the period to be appropriated9905 | €107,602 | €45,674 | €106,111 | €70,877 | €145,465 | €201,337 | €279,836 | €201,894 | ▼ 27.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.7m | €0.7m | €0.8m | €0.8m | €1.0m | €1.2m | €1.2m | €1.3m | ▲ 6.7% |
| Fixed assets21/28 | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 16.4% |
| Intangible fixed assets21 | €483 | €322 | €161 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 16.4% |
| Land and buildings22 | - | - | - | €0.08m | €0.07m | €0.08m | €0.09m | €0.08m | ▼ 14.3% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.004m | €0.003m | €0.001m | €29 | ▼ 97.8% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.04m | €0.03m | €0.02m | €0.05m | ▲ 171% |
| Financial fixed assets28 | €25 | €0 | - | - | - | - | - | - | - |
| Current assets29/58 | €0.5m | €0.6m | €0.6m | €0.7m | €0.9m | €1.0m | €1.1m | €1.1m | ▲ 5.7% |
| Stocks and contracts in progress3 | €0.06m | €0.08m | €0.06m | €0.04m | €0.07m | €0.04m | €0.005m | €0.2m | ▲ 41× |
| Stocks30/36 | - | - | - | - | - | - | €0.005m | - | - |
| Contracts in progress37 | - | - | - | €0.04m | €0.07m | €0.04m | - | €0.2m | - |
| Amounts receivable within one year40/41 | €0.1m | €0.2m | €0.05m | €0.1m | €0.2m | €0.4m | €0.6m | €0.5m | ▼ 12.6% |
| Trade receivables40 | - | - | - | €0.05m | €0.1m | €0.04m | €0.2m | €0.2m | ▼ 31.6% |
| Other amounts receivable41 | - | - | - | €0.07m | €0.06m | €0.4m | €0.4m | €0.4m | ▼ 0.3% |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.5m | €0.5m | €0.6m | €0.6m | €0.4m | €0.4m | ▼ 16.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.008m | €0.005m | €384 | €0.001m | ▲ 105% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.7m | €0.7m | €0.8m | €0.8m | €1.0m | €1.2m | €1.2m | €1.3m | ▲ 6.7% |
| Equity10/15 | €0.5m | €0.6m | €0.7m | €0.8m | €0.9m | €0.8m | €0.9m | €1.1m | ▲ 16.7% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.5m | €0.5m | €0.6m | €0.7m | €0.8m | €0.7m | €0.9m | €1.0m | ▲ 17.9% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.7m | €0.8m | €0.7m | €0.9m | €1.0m | ▲ 18.4% |
| Amounts payable17/49 | €0.2m | €0.1m | €0.07m | €0.05m | €0.1m | €0.4m | €0.2m | €0.2m | ▼ 32.7% |
| Amounts payable after more than one year17 | €0.03m | €0.02m | €0.001m | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.09m | €0.07m | €0.05m | €0.1m | €0.4m | €0.2m | €0.2m | ▼ 32.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.001m | - | - | - | - | - |
| Trade debts44 | €0.09m | €0.07m | €0.04m | €0.04m | €0.08m | €0.02m | €0.04m | €0.05m | ▲ 33.8% |
| Suppliers440/4 | - | - | - | €0.04m | €0.08m | €0.02m | €0.04m | €0.05m | ▲ 33.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.02m | €0.03m | €0.09m | €0.06m | ▼ 31.5% |
| Taxes450/3 | - | - | - | €19 | €0.007m | €0.03m | €0.09m | €0.06m | ▼ 37.8% |
| Remuneration and social security454/9 | - | - | - | €0.007m | €0.01m | €0.006m | - | €0.006m | - |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.001m | €0.3m | €0.1m | €0.05m | ▼ 57.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €107,602 | €45,674 | €106,111 | €70,877 | €145,465 | €201,337 | €279,836 | €201,894 | ▼ 27.9% |
| + Depreciation and write-downs630 | €54,359 | €38,782 | €25,445 | €24,184 | €29,881 | €17,025 | €24,007 | €28,126 | ▲ 17.2% |
| Operating cash flow (approximation) | €161,961 | €84,455 | €131,555 | €95,061 | €175,346 | €218,362 | €303,843 | €230,019 | ▼ 24.3% |
| Investment in fixed assets (approximation) | - | -€2,671 | -€15,763 | -€13,593 | -€31,050 | - | -€28,614 | -€47,116 | ▼ 64.7% |
| Change in cash | - | -€49,540 | €227,747 | -€7,855 | €116,570 | - | -€116,690 | -€74,110 | ▲ 36.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-05-2026 | 2026-00120985 | |
| 31-12-2024 | abbreviated format | 27-05-2025 | 2025-00110260 | |
| 31-12-2023 | abbreviated format | 12-06-2024 | 2024-00125462 | |
| 31-03-2023 | abbreviated format | 30-08-2023 | 2023-00381695 | |
| 31-03-2022 | abbreviated format | 02-09-2022 | 2022-20403113 | |
| 31-03-2021 | abbreviated format | 23-08-2021 | 2021-51600343 | |
| 31-03-2020 | abbreviated format | 28-08-2020 | 2020-46600038 | |
| 31-03-2019 | abbreviated format | 06-09-2019 | 2019-63500265 | |
| 31-03-2018 | abbreviated format | 12-09-2018 | 2018-62900150 | |
| 31-03-2017 | abbreviated format | 11-09-2017 | 2017-60700176 |
Board & ownership
Directors
Day-to-day management 1
Owners and capital
Shareholders
1 ownerOwners 1
-
50%
Capital transactions
- 23-10-2023 Capital stated in the deed · €62,000 · 350 shares
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Holemans Kurt |
|
| Alen Eddy |
|
| Henskens Yves |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Raad van bestuur, minimum door wet voorgeschreven”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Op naam, aandelen”“Op naam, andere effecten dan aandelen”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Onder levenden of bij overlijden, vrij”
Audit, dissolution and liquidation
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Benoeming vereffenaars, één of meer door algemene vergadering”“Bevoegdheden vereffenaars, alle verrichtingen vermeld in de wet”“Wijze van vereffening, netto-actief in geld of effecten naar verhouding aantal aandelen”
Articles of association, deed of 23-10-2023 (in Dutch)
Network & group
Connections & network
1 office holderThe network starts from the directors of CONDES. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
23-10
Gazette deed
Amendment of the articlesCapital · Registered office clause8 points ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Other provision, 31-12-2023, “eenparigheid van stemmen” (deed in Dutch)
- Amendment of the articles
- Capital, €62,000
- General meeting, “coördinatie statuten opmaken en ondertekenen en neerlegging verzorgen” (deed in Dutch)
- Registered office clause, “3300 Tienen,Wulmersumsesteenweg 151 bus 2” (deed in Dutch)
- General meeting, “kantoor van ondergetekende notaris, bestuursorgaan” (deed in Dutch)
- Other provision, “sluiting vergadering”, 11u30 (deed in Dutch)
03-05
Gazette deed
Resignation: Henskens Yves (director)Appointment: Holemans Kurt (managing director) · Reappointment: Alen Eddy (director) · Director discharge5 points ▸
- General meeting, 28-03-2023
- Director resignation, Henskens Yves (director)
- Director discharge, Henskens Yves (director)
- Director appointment, Holemans Kurt (managing director)
- Director reappointment, Alen Eddy (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 20253 activities
- Aanneming van algemene schrijnwerkerij, toelevering van halffabricaten, plaatsen van ramen, veranda’s, plaatsen van houten schotten en plafonds, meubelmakerij en binnenhuisinrichting.
- Aan- en verkoop van alle materiaal en meubels die met voorgaande rechtstreeks of onrechtstreeks betrekking kunnen hebben.
- En al wat daarmee rechtstreeks of onrechtstreeks verband houdt.
Invoicing and payment
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 0452.475.801
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24592D0116/00C002 | Flanders | 1,586 m² | 1 · 1,126 m² | 5.3 m · 2 |