Contrast
ActiveSummary
The annual accounts of Contrast for fiscal year 2025 show a net loss of 96% of the equity at the start of that year. The 2025 annual accounts show equity of €2,827 and a net result of -€70,191. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 8% of 7868 sector peers (fiscal year 2025). The company has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▲+12
Solvency27▼-28
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.38 against 0.45 in 2024; short-term debt: 44.8% and cash: 7.5% of total assets), and 98.3% of the assets are financed with debt.
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Signals
Six 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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 · 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 2025Solvency, return and age of the figures
Solvency
1.7%
Return on assets
-42.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€70,191
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 7868 sector peers (2025).
NBB · sector comparisonPosition among 7868 sector peers
Solvency
better than 8%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
7 d early
2023
12 d early
2022
70 d late
2021
16 d early
2020
33 d early
2019
7 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 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€2,827▼ 96.1%
2024 · €73,017
Total assets
€166,697▼ 30.9%
2024 · €241,136
Net result
-€70,191▼ 22.5%
2024 · -€57,319
Working capital
-€46,102▼ 44.3%
2024 · -€31,943
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€33,982▼ 12.9%€32,648▼ 3.9%€23,641▼ 27.6%-€50,598-€3,474▲ 93.1%
Net result€18,959▼ 3.5%€17,153▼ 9.5%€12,916▼ 24.7%-€57,319-€70,191▼ 22.5%
Equity€116,323▲ 3.5%€117,420▲ 0.9%€130,336▲ 11.0%€73,017▼ 44.0%€2,827▼ 96.1%
Total assets€325,996▼ 13.2%€309,382▼ 5.1%€306,881▼ 0.8%€241,136▼ 21.4%€166,697▼ 30.9%
Debt€209,674▼ 20.8%€191,963▼ 8.4%€176,545▼ 8.0%€168,119▼ 4.8%€163,871▼ 2.5%
Working capital€29,330▲ 5.0%€15,565▼ 46.9%€27,162▲ 74.5%-€31,943-€46,102▼ 44.3%
Staff (FTE)000
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 stays negative: a loss of €3,474 in 2025 against €50,598 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €166,697
Fixed assets
€138,068 ▼ 35.9%
Current assets
€28,629 ▲ 10.7%
Equity and liabilities €166,697
Equity
€2,827 ▼ 96.1%
Debt
€163,871 ▼ 2.5%
Debt's share of the balance-sheet total rises from 69.7% to 98.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€14,167▲
2024 · -€33,116
Cash flow
-€52,550▼
2024 · -€39,837
Current ratio
0.38▼
2024 · 0.45
Debt to equity
57.98▲
2024 · 2.30
ROA
-42.1%▼
2024 · -23.8%
Interest coverage
1.49▲
2024 · -4.66
Debt ≤ 1 year
€74,731▲
2024 · €57,808
Debt > 1 year
€89,139▼
2024 · €108,801
Income taxes
€0▲
2024 · -€371
A ratio outside any meaningful range has been withheld (balance sheet total €166,697, equity €2,827).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,017 | €17,108 | €17,261 | €17,482 | €17,641 | ▲ 0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €4,433 | €63,747 | -€63,747 | ▼ 200% |
| Other operating charges640/8 | €1,217 | €1,673 | €2,119 | €1,726 | €66,720 | ▲ 3,766% |
| Non-recurring operating charges66A | - | - | €2,818 | €0 | - | - |
| Gross operating margin9900 | €52,216 | €51,429 | €50,272 | €32,357 | €17,140 | ▼ 47.0% |
| Operating profit (loss)9901 | €33,982 | €32,648 | €23,641 | -€50,598 | -€3,474 | ▲ 93.1% |
| Financial income75/76B | €16 | €453 | €0 | €10 | €4 | ▼ 56.1% |
| Recurring financial income75 | €16 | €453 | €0 | €10 | €4 | ▼ 56.1% |
| Financial charges65/66B | €7,561 | €6,418 | €4,954 | €7,102 | €66,721 | ▲ 839% |
| Recurring financial charges65 | €7,561 | €6,418 | €4,954 | €7,102 | €9,507 | ▲ 33.9% |
| Non-recurring financial charges66B | - | - | - | - | €57,214 | - |
| Profit (loss) for the period before taxes9903 | €26,437 | €26,683 | €18,687 | -€57,690 | -€70,191 | ▼ 21.7% |
| Income taxes67/77 | €7,478 | €9,530 | €5,771 | -€371 | €0 | ▲ 100% |
| Profit (loss) for the period9904 | €18,959 | €17,153 | €12,916 | -€57,319 | -€70,191 | ▼ 22.5% |
| Profit (loss) for the period to be appropriated9905 | €18,959 | €17,153 | €12,916 | -€57,319 | -€70,191 | ▼ 22.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €325,996 | €309,382 | €306,881 | €241,136 | €166,697 | ▼ 30.9% |
| Fixed assets21/28 | €252,382 | €248,756 | €231,495 | €215,272 | €138,068 | ▼ 35.9% |
| Tangible fixed assets22/27 | €202,117 | €185,741 | €168,480 | €152,257 | €137,653 | ▼ 9.6% |
| Land and buildings22 | €198,619 | €181,602 | €164,585 | €147,568 | €133,537 | ▼ 9.5% |
| Furniture and vehicles24 | €3,498 | €4,139 | €3,895 | €4,689 | €4,116 | ▼ 12.2% |
| Financial fixed assets28 | €50,265 | €63,015 | €63,015 | €63,015 | €415 | ▼ 99.3% |
| Current assets29/58 | €73,615 | €60,626 | €75,386 | €25,864 | €28,629 | ▲ 10.7% |
| Amounts receivable within one year40/41 | €29,117 | €48,733 | €71,791 | €5,153 | €65 | ▼ 98.7% |
| Trade receivables40 | €1,643 | €3,301 | €12,133 | €4,131 | €0 | ▼ 100% |
| Other amounts receivable41 | €27,474 | €45,432 | €59,658 | €1,022 | €65 | ▼ 93.6% |
| Cash at bank and in hand54/58 | €42,617 | €11,635 | €3,555 | €2 | €12,533 | ▲ 636,082% |
| Deferred charges and accrued income490/1 | €1,880 | €259 | €41 | €20,709 | €16,031 | ▼ 22.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €325,996 | €309,382 | €306,881 | €241,136 | €166,697 | ▼ 30.9% |
| Equity10/15 | €116,323 | €117,420 | €130,336 | €73,017 | €2,827 | ▼ 96.1% |
| Contributions10/11 | €48,355 | €48,750 | €48,750 | €48,750 | €48,750 | = |
| Reserves13 | €67,967 | €68,670 | €81,586 | €66,795 | €66,795 | = |
| Non-distributable reserves130/1 | €3,533 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €3,533 | €0 | - | - | - | - |
| Distributable reserves133 | €64,434 | €68,670 | €81,586 | €66,795 | €66,795 | = |
| Profit (loss) carried forward14 | €0 | €0 | €0 | -€42,528 | -€112,718 | ▼ 165% |
| Amounts payable17/49 | €209,674 | €191,963 | €176,545 | €168,119 | €163,871 | ▼ 2.5% |
| Amounts payable after more than one year17 | €165,286 | €146,865 | €128,040 | €108,801 | €89,139 | ▼ 18.1% |
| Financial debts170/4 | €165,286 | €146,865 | €128,040 | €108,801 | €89,139 | ▼ 18.1% |
| Amounts payable within one year42/48 | €44,285 | €45,062 | €48,224 | €57,808 | €74,731 | ▲ 29.3% |
| Current portion of amounts payable after more than one year42 | €19,427 | €19,854 | €20,290 | €20,735 | €21,191 | ▲ 2.2% |
| Financial debts43 | - | - | - | €204 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €204 | €0 | ▼ 100% |
| Trade debts44 | €5,746 | €4,925 | €1,948 | €281 | €1,089 | ▲ 288% |
| Suppliers440/4 | €5,746 | €4,925 | €1,948 | €281 | €1,089 | ▲ 288% |
| Taxes, remuneration and social security45 | €8,612 | €13,369 | €17,791 | €12,693 | €986 | ▼ 92.2% |
| Taxes450/3 | €8,612 | €13,369 | €16,791 | €7,875 | €986 | ▼ 87.5% |
| Remuneration and social security454/9 | - | - | €1,000 | €4,818 | €0 | ▼ 100% |
| Other amounts payable47/48 | €10,500 | €6,914 | €8,196 | €23,895 | €51,466 | ▲ 115% |
| Accrued charges and deferred income492/3 | €103 | €36 | €281 | €1,511 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,959 | €17,153 | €12,916 | -€57,319 | -€70,191 | ▼ 22.5% |
| + Depreciation and write-downs630 | €17,017 | €17,108 | €17,261 | €17,482 | €17,641 | ▲ 0.9% |
| Operating cash flow (approximation) | €35,977 | €34,261 | €30,178 | -€39,837 | -€52,550 | ▼ 31.9% |
| Investment in fixed assets (approximation) | - | -€13,482 | €0 | -€1,259 | €59,563 | ▲ 4,830% |
| Change in cash | - | -€30,983 | -€8,080 | -€3,553 | €12,531 | ▲ 453% |
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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€70,191
Net result drops to -€70,191, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 70 days late
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €100,000Eq €110,937 ▲21.5%
2 profitable years in a row build equity to €110,937.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Aalst · 1 establishment unit since 1997
Ground area
101 m²
Building footprint
101 m²
Volume, LiDAR
1,091 m³
Parcel 41002A1927/00C000, Flanders · tallest building 16.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Contrast
since 19972.079.813.622
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002A1927/00C000 | Flanders | 101 m² | 1 · 101 m² | 16.0 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Recognitions · licences · registrations
Recognised contractor
1 categoryContrast BV44268
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Of 7,867 companies in sector 43341 we hold annual accounts for 2,664. 773 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
Founded28-11-1996
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
Contact
Phone
053/700702Aalst
Fax
053/807636Aalst
Scores and ratios are computed by Checked and are not a credit decision.