CSA CONSTRUCT
Open bankruptcyAre you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
The judgment is more than a year old: a claim can no longer be filed, not even late. The trustee knows whether anything will still be paid out.
The procedure
- Court
- Enterprise Court of Brussels
- Declared bankrupt
- 30 September 2025
- Supervising judge
- Dirk De Corte
- Official Gazette
- 06-10-2025 (pdf) ↗search the document for 2025/140061
Deadlines
- Provisional date payments stopped
- 30 September 2025A later judgment can change the date.art. XX.105, Code of Economic Law
- Appeal or third-party opposition until
- passed on 21 October 2025Fifteen days after the publication in the Official Gazette.art. XX.108, Code of Economic Law
- File the claim in RegSol, the Belgian insolvency register, until
- passed on 30 October 2025art. XX.104 and XX.155, Code of Economic Law
- First verification report
- passed on 5 November 2025Reclaim goods that are still yours, such as goods delivered under retention of title, before this day.art. XX.104 and XX.194, Code of Economic Law
- Late claim until
- passed on 30 September 2026A late claim shares only in what has not yet been paid out, and you bear its costs.art. XX.165, Code of Economic Law
Trustee
- Wim HeethemLouizalaan 523 (7De Verd), 1050 Brussel 5wheethem@intakt.law
What to do now
- The deadlines to file your claim have passed, including for a late claim: that was possible until a year after the judgment.
- Ask the trustee whether anything will still be paid out and whether your claim was admitted.
- Follow the file in RegSol: the trustee's reports appear there.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered, subject to conditions.
The judgment is more than a year old: the deadline for a late claim (art. XX.165, Code of Economic Law) has passed too.
View the file in RegSol ↗
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Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the trustee, your lawyer or your accountant can help.Creditor guide for this company
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Overview
Activity
Plastering work
NACE 43310
1 site
Size
€116,927total assets 2023
- Equity
- €29,043
- Loss
- -€38,796
Turnover not published (micro format)
Financial health
Open bankruptcy: no score
Structure
1 of 3 deeds read
Signalsraises riskOpen bankruptcyAdministrative warnings in the KBO publicationsShow the evidence
Signals
Two signals.
raises risk
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
- OpeningEnterprise Court of Brussels ·…
- Address struckKBO administration
- MiscellaneousDirector in office
Financials · financial year 2023, micro format
2023 annual accounts filed late (92 days) Filed on 31 October 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00528074.
Equity
€29,043▼ 57.2%
2022 · €67,839
Total assets
€116,927▲ 15.4%
2022 · €101,325
Net result
-€38,796
2022 · €22,656
Working capital
€28,183▼ 60.1%
2022 · €70,580
Trend over the years
2020 to 2023, 4 financial years
The operating result turns negative in 2023: a loss of €38,204 after €31,710 in 2022, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€38,204
2023
Net result-€38,796
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€116,927
2023
Equity€29,043
2023
Debt€87,883
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€28,183
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-33.2%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency24.8%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.35
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2020202120222023
Operating result€27,959-€84,653▲ 203%€31,710▼ 62.5%-€38,204
Net result€15,520within the sector's middle half-€58,542above the sector's middle half▲ 277%€22,656within the sector's middle half▼ 61.3%-€38,796below the sector's middle half
Equity€23,520within the sector's middle half-€82,062within the sector's middle half▲ 249%€67,839within the sector's middle half▼ 17.3%€29,043within the sector's middle half▼ 57.2%
Total assets€81,849within the sector's middle half-€207,420within the sector's middle half▲ 153%€101,325within the sector's middle half▼ 51.1%€116,927within the sector's middle half▲ 15.4%
Debt€58,329-€125,357▲ 115%€33,485▼ 73.3%€87,883▲ 162%
Working capital€14,728within the sector's middle half-€88,255above the sector's middle half▲ 499%€70,580within the sector's middle half▼ 20.0%€28,183within the sector's middle half▼ 60.1%
Solvency28.7%within the sector's middle half-39.6%within the sector's middle half▲ 10.8pp67.0%above the sector's middle half▲ 27.4pp24.8%within the sector's middle half▼ 42.1pp
Current ratio1.40within the sector's middle half-1.90within the sector's middle half▲ 0.505.03above the sector's middle half▲ 3.131.35within the sector's middle half▼ 3.69
Return on assets (ROA)19.0%above the sector's middle half-28.2%above the sector's middle half▲ 9.3pp22.4%above the sector's middle half▼ 5.9pp-33.2%below the sector's middle half▼ 55.5pp
above
within
below
the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €116,927
Fixed assets
€7,239 ▼ 45.4%
Current assets
€109,688 ▲ 24.5%
Equity and liabilities €116,927
Equity
€29,043 ▼ 57.2%
Debt
€87,883 ▲ 162%
Debt's share of the balance-sheet total rises from 33.0% to 75.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€32,196▼
2022 · €40,056
Cash flow
-€32,788▼
2022 · €31,002
Debt to equity
3.03▲
2022 · 0.49
ROE
-133.6%▼
2022 · 33.4%
Interest coverage
-54.38▼
2022 · 13.12
Debt ≤ 1 year
€81,504▲
2022 · €17,498
Debt > 1 year
€6,379▼
2022 · €15,987
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,941 | €8,758 | €8,346 | €6,008 | ▼ 28.0% |
| Other operating charges640/8 | - | €2,840 | €1,436 | €133 | ▼ 90.7% |
| Gross operating margin9900 | €36,675 | €96,251 | €41,492 | -€32,063 | - |
| Operating profit (loss)9901 | €27,959 | €84,653 | €31,710 | -€38,204 | - |
| Financial income75/76B | - | €2 | - | - | - |
| Recurring financial income75 | - | €2 | - | - | - |
| Financial charges65/66B | - | €9,710 | €3,054 | €592 | ▼ 80.6% |
| Recurring financial charges65 | €5,992 | €9,710 | €3,054 | €592 | ▼ 80.6% |
| Profit (loss) for the period before taxes9903 | €21,967 | €74,945 | €28,656 | -€38,796 | - |
| Income taxes67/77 | €6,447 | €16,403 | €6,000 | - | - |
| Profit (loss) for the period9904 | €15,520 | €58,542 | €22,656 | -€38,796 | - |
| Profit (loss) for the period to be appropriated9905 | €15,520 | €58,542 | €22,656 | -€38,796 | - |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €81,849 | €207,420 | €101,325 | €116,927 | ▲ 15.4% |
| Fixed assets21/28 | €30,351 | €21,593 | €13,247 | €7,239 | ▼ 45.4% |
| Tangible fixed assets22/27 | €30,351 | €21,593 | €13,247 | €7,239 | ▼ 45.4% |
| Furniture and vehicles24 | - | €2,338 | €0 | €0 | - |
| Leasing and similar rights25 | - | €19,255 | €13,247 | €7,239 | ▼ 45.4% |
| Current assets29/58 | €51,498 | €185,827 | €88,078 | €109,688 | ▲ 24.5% |
| Amounts receivable within one year40/41 | €47,798 | €179,231 | €88,078 | €109,513 | ▲ 24.3% |
| Trade receivables40 | - | €109,777 | €87,903 | €109,513 | ▲ 24.6% |
| Other amounts receivable41 | - | €69,455 | €175 | - | - |
| Cash at bank and in hand54/58 | - | - | - | €175 | - |
| Deferred charges and accrued income490/1 | - | €6,595 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €81,849 | €207,420 | €101,325 | €116,927 | ▲ 15.4% |
| Equity10/15 | €23,520 | €82,062 | €67,839 | €29,043 | ▼ 57.2% |
| Contributions10/11 | - | €8,000 | €8,000 | €8,000 | = |
| Capital10 | - | - | - | €8,000 | - |
| Issued capital100 | - | - | - | €8,000 | - |
| Reserves13 | €15,500 | €15,500 | €15,500 | €15,500 | = |
| Non-distributable reserves130/1 | - | - | - | €15,500 | - |
| Legal reserve130 | - | - | - | €15,500 | - |
| Distributable reserves133 | - | €15,500 | €15,500 | - | - |
| Profit (loss) carried forward14 | €20 | €58,562 | €44,339 | €5,543 | ▼ 87.5% |
| Amounts payable17/49 | €58,329 | €125,357 | €33,485 | €87,883 | ▲ 162% |
| Amounts payable after more than one year17 | €21,559 | €27,485 | €15,987 | €6,379 | ▼ 60.1% |
| Financial debts170/4 | - | €27,485 | €15,987 | €6,379 | ▼ 60.1% |
| Amounts payable within one year42/48 | €36,770 | €97,572 | €17,498 | €81,504 | ▲ 366% |
| Current portion of amounts payable after more than one year42 | - | €11,498 | €11,498 | €9,608 | ▼ 16.4% |
| Financial debts43 | - | €54 | - | - | - |
| Credit institutions430/8 | - | €54 | - | - | - |
| Trade debts44 | €16,626 | €62,734 | - | - | - |
| Suppliers440/4 | - | €62,734 | - | - | - |
| Taxes, remuneration and social security45 | - | €23,285 | €6,000 | - | - |
| Taxes450/3 | - | €23,285 | €6,000 | - | - |
| Other amounts payable47/48 | - | - | - | €71,896 | - |
| Accrued charges and deferred income492/3 | - | €300 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,520 | €58,542 | €22,656 | -€38,796 | - |
| + Depreciation and write-downs630 | €7,941 | €8,758 | €8,346 | €6,008 | ▼ 28.0% |
| Operating cash flow (approximation) | €23,461 | €67,301 | €31,002 | -€32,788 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | micro format | 31-10-2024 | 2024-00528074 |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00311427 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20406941 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-63300416 |
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Of the 3,966 active companies whose main activity is plastering work (NACE 43310), figures are known for 1,745. 1,445 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
No directors read yet: 1 of 3 Gazette acts processed. See the directors and other office holders in the KBO →
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Wim Heethem Louizalaan 523 (7De Verd), 1050 Brussel 5 |
30-09-2025 → present |
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
2025
06-10
Bankruptcy
Opening
Enterprise Court of Brussels · judgment of 30-09-2025
11-07
KBO administration
Address struck
17-06
Gazette deed
MiscellaneousDirector in office3 facts ▸
Gazette deed
Miscellaneous
Director in office3 facts ▸
- General meeting, 02-05-2025
- Other provision, 1, “bestuurder” (deed in Dutch)
- Director in office, Antonio Teofilo Celso (director)
2024
31-10
NBB filing
Annual accounts filed
financial year 2023 · micro format · 92 days late
2023
31-12
Financial
Weakest financial yearnet -€38,796
Net result drops to -€38,796, the lowest in the series.
31-07
NBB filing
Annual accounts filed
financial year 2022 · micro format
2022
31-12
Financial
Liquidity more than doubledcurrent ratio 5.03
Current ratio from 1.90 to 5.03; short-term debt falls from €97,572 to €17,498.
31-08
NBB filing
Annual accounts filed
financial year 2021 · micro format · 31 days late
2021
31-12
Financial
Highest result from 2020 to 2023net €58,542 ▲277%
Operating result €84,653, net result €58,542, both a record.
31-08
NBB filing
Annual accounts filed
financial year 2020 · micro format · 31 days late
SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
1 of 3 deeds read
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company
Founded24-07-2019
Financial year end31-12
Activities, NACEBEL 2025
43310Plastering work
43221Plumbing work
43320Joinery installation
43331Floor and wall tiling
43341Painting of buildings
43422Screed work
E-invoicing
Not found in the Peppol Directory
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
Register as of 14 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Opwijk · 1 establishment unit since 2019
Ground area
137 m²
Building footprint
96 m²
Building volume
734 m³
Parcel 23060B0677/03R000, Flanders · tallest building 10.3 m. Linked by address, not a title deed.
1 establishment unit
CSA CONSTRUCT
since 2019unit no. 2.292.222.737
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23060B0677/03R000 | Flanders | 136 m² | 1 · 96 m² | 10.3 m · 3 |
How the parcels are linked
Good to know
The parcel matches the address exactly.