COURCELLES MONTAGE
ActiveCOURCELLES MONTAGE has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8k and a net result of €9k. Equity is shrinking by ~21.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 32% of 27619 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability82▲+82
Solvency56▲+40
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
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
Sector 43
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
30.9%
Return on assets
35.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
11 d early
2023
104 d early
2022
262 d late
2021
6 d early
2020
12 d early
2019
32 d early
← before the deadline
after the deadline →
Financials · fiscal year 2025, micro schema
Equity
€8k
2024 · €-1k
2019: €19k
2020: €15k
2021: €15k
2022: €5k
2023: €10k
2024: €-1k
2019 → 2025
Total assets
€26k▲ 90.8%
2024 · €14k
2019: €33k
2020: €27k
2021: €27k
2022: €7k
2023: €21k
2024: €14k
2019 → 2025
Net result
€9k
2024 · €-11k
2019: €2k
2020: €-4k
2021: €814
2022: €-10k
2023: €5k
2024: €-11k
2019 → 2025
Working capital
€2k
2024 · €-14k
2019: €10k
2020: €7k
2021: €12k
2022: €5k
2023: €-3k
2024: €-14k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€15k-€5k▼ 67.4%€10k▲ 99.1%€-1k€8k
Operating result€2k-€-9k€5k€-8k€14k
Net result€814-€-10k€5k€-11k€9k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €14k after a loss of €8k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26k
Fixed assets
€12k▼ 4.1%
Current assets
€14k▲ 1,505%
Equity and liabilities €26k
Equity
€8k
Debt
€18k
Debt finances 69.1% of the balance-sheet total.
Key figures and ratios
EBITDA
€20k▲
2024 · €-5k
Cash flow
€16k▲
2024 · €-8k
Solvency
30.9%▲
2024 · -8.6%
Current ratio
1.14▲
2024 · 0.06
Quick ratio
0.81▲
2024 · 0.06
Debt / equity
2.23▲
2024 · -12.64
ROE
114.5%
ROA
35.4%▲
2024 · -81.4%
Interest coverage
3.84▲
2024 · -1.30
Debt
€18k▲
2024 · €15k
Debt ≤ 1 year
€12k▼
2024 · €15k
Debt > 1 year
€6k
Income taxes
€-987▼
2024 · €221
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€14k€26k▲
Fixed assets21/28€13k€12k▼
Tangible fixed assets22/27€11k€11k▼
Plant, machinery and equipment23€11k€8k▼
Furniture and vehicles24-€3k
Financial fixed assets28€1k€2k▲
Current assets29/58€869€14k▲
Stocks and contracts in progress3-€4k
Stocks30/36-€4k
Amounts receivable within one year40/41€345€9k▲
Trade receivables40€345€9k▲
Other amounts receivable41-€226
Cash at bank and in hand54/58€283€21▼
Deferred charges and accrued income490/1€241€599▲
Equity and liabilities
Total equity and liabilities10/49€14k€26k▲
Equity10/15€-1k€8k▲
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133-€2k
Profit (loss) carried forward14€-9k€98▲
Amounts payable17/49€15k€18k▲
Amounts payable after more than one year17-€6k
Financial debts170/4-€6k
Amounts payable within one year42/48€15k€12k▼
Current portion of amounts payable after more than one year42-€2k
Trade debts44€12k€9k▼
Suppliers440/4€12k€9k▼
Taxes, remuneration and social security45€2k€539▼
Taxes450/3€2k€539▼
Other amounts payable47/48€2k€616▼
Accrued charges and deferred income492/3€128-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€6k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€-1k€22k▲
Operating profit (loss)9901€-8k€14k▲
Financial income75/76B€1-
Recurring financial income75€1-
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€-11k€8k▲
Income taxes67/77€221€-987▼
Profit (loss) for the period9904€-11k€9k▲
Profit (loss) for the period to be appropriated9905€-11k€9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-9k€98▲
Profit (loss) brought forward from the previous period14P€2k€-9k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
31-12
Financial
Liquidity times 20current ratio 1.14
Current ratio from 0.06 to 1.14; short-term debt falls from €15k to €12k.
20-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-08
Financial
Weakest financial yearnet €-11k ▼325%
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
2023
18-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
18-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 262 days late
31-08
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
2022
25-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
Financial
Back to profitnet €814
Net result €814 after one loss-making year.
19-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
19-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
14-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
29-02
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-11-2025
AUGELLO Salvatore: Resigned as Director
31-12-2021
Ansey AYDIN: Resigned as Managing director
31-12-2021
Bülent AYDIN: Resigned as Managing director
30-09-2016
TEKIR Ali: Resigned as Managing director
Location & real-estate footprint
Registered office, Fontaine-l'Evêque · 1 establishment unit since 2003
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 Mons(F-E) 2476140 Fontaine-l'EvêqueGround area
1.5 ha
Building footprint
1,080 m²
Volume, LiDAR
5,203 m³
2 parcels, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
COURCELLES MONTAGE SPRL
since 20032.133.313.971
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56043A0250/00D003 | Wallonia | 1.4 ha | 1 · 987 m² | 9.5 m · 1 fl. |
| 52022C0216/00V002 | Wallonia | 481 m² | 1 · 93 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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La Sarissa
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RENOVAND
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IBAT
BE 0898.270.973
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M&S IDEAL CONSTRUCT
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Of 7,289 companies in sector 43350 we hold annual accounts for 2,361. 1,306 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-08-2003
Fiscal year end31-12
Activities, NACEBEL
43350Other building finishing work
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.