Expert Solution
ActiveSummary
The computed 12-month bankruptcy probability of Expert Solution is 1.7% (moderate). The 2024 annual accounts show equity of €1,765 and a net result of €94,883. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 1329 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+16
Solvency26▼-1
Growth58▲+26
Track record94
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.84 against 0.71 in 2023; short-term debt: 99.1% of total assets), and 99.1% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
0.9%
Return on assets
48.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 1329 sector peers (2024).
NBB · sector comparisonPosition among 1329 sector peers
Solvency
better than 10%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-10-2025, 92 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
92 d late
2023
138 d late
2022
128 d late
2021
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 84 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (1)
History
Expert Solution was incorporated on 18 November 2020 as a Private limited company.1 The registered office was moved to Antwerpen in 2026.2 Since 2026, BELHADI Achraf has served as director of the company.2 Total assets rose from EUR 46,018 in 2021 to EUR 197,155 in 2024 and headcount from 0.4 to 7.9 full-time equivalents.3
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
€113,739
EBIT margin
26.5%
Net result
€94,883▲ 432%
2023 · €17,851
Working capital
-€30,307▲ 27.3%
2023 · -€41,704
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
Line2021202220232024
Turnover€113,739-
Operating result€30,094-€56,804▲ 88.8%€24,201▼ 57.4%€134,994▲ 458%
Net result€24,569-€44,862▲ 82.6%€17,851▼ 60.2%€94,883▲ 432%
EBIT margin26.5%-
Equity€26,169-€2,031▼ 92.2%€2,882▲ 41.9%€1,765▼ 38.8%
Total assets€46,018-€167,803▲ 265%€145,310▼ 13.4%€197,155▲ 35.7%
Debt€19,849-€165,772▲ 735%€142,428▼ 14.1%€195,390▲ 37.2%
Working capital€20,669--€15,673-€41,704▼ 166%-€30,307▲ 27.3%
Staff (FTE)0.4-2.6▲ 550%7.7▲ 196%7.9▲ 2.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 458% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €197,155
Fixed assets
€32,072 ▼ 28.1%
Current assets
€165,083 ▲ 63.9%
Equity and liabilities €197,155
Equity
€1,765 ▼ 38.8%
Debt
€195,390 ▲ 37.2%
Debt's share of the balance-sheet total rises from 98.0% to 99.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€143,492▲
2023 · €30,086
Cash flow
€103,380▲
2023 · €23,737
Current ratio
0.84▲
2023 · 0.71
ROA
48.1%▲
2023 · 12.3%
Interest coverage
39.54▲
2023 · 9.19
Debt ≤ 1 year
€195,390▲
2023 · €142,428
Income taxes
€42,350▲
2023 · €7,572
Staff costs
€168,092▲
2023 · €146,284
A ratio outside any meaningful range has been withheld (balance sheet total €197,155, equity €1,765).
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 | Change |
|---|---|---|---|---|---|
| Turnover70 | €113,739 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €70,948 | - | - | - | - |
| Remuneration, social security and pensions62 | €11,691 | €80,290 | €146,284 | €168,092 | ▲ 14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,233 | €5,885 | €8,497 | ▲ 44.4% |
| Other operating charges640/8 | €1,017 | €5,008 | €10,359 | €10,786 | ▲ 4.1% |
| Gross operating margin9900 | €42,803 | €143,335 | €186,729 | €322,369 | ▲ 72.6% |
| Operating profit (loss)9901 | €30,094 | €56,804 | €24,201 | €134,994 | ▲ 458% |
| Financial income75/76B | €1,222 | €3,667 | €4,496 | €5,868 | ▲ 30.5% |
| Recurring financial income75 | €1,222 | €3,667 | €4,496 | €5,868 | ▲ 30.5% |
| Financial charges65/66B | €248 | €2,219 | €3,274 | €3,629 | ▲ 10.9% |
| Recurring financial charges65 | €248 | €2,219 | €3,274 | €3,629 | ▲ 10.9% |
| Profit (loss) for the period before taxes9903 | €31,069 | €58,252 | €25,423 | €137,233 | ▲ 440% |
| Income taxes67/77 | €6,500 | €13,390 | €7,572 | €42,350 | ▲ 459% |
| Profit (loss) for the period9904 | €24,569 | €44,862 | €17,851 | €94,883 | ▲ 432% |
| Profit (loss) for the period to be appropriated9905 | €24,569 | €44,862 | €17,851 | €94,883 | ▲ 432% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €46,018 | €167,803 | €145,310 | €197,155 | ▲ 35.7% |
| Fixed assets21/28 | €5,500 | €17,703 | €44,586 | €32,072 | ▼ 28.1% |
| Tangible fixed assets22/27 | - | €11,703 | €37,586 | €25,072 | ▼ 33.3% |
| Plant, machinery and equipment23 | - | €1,704 | €17,983 | €13,668 | ▼ 24.0% |
| Furniture and vehicles24 | - | €9,999 | €19,603 | €11,404 | ▼ 41.8% |
| Financial fixed assets28 | €5,500 | €6,000 | €7,000 | €7,000 | = |
| Current assets29/58 | €40,518 | €150,099 | €100,724 | €165,083 | ▲ 63.9% |
| Amounts receivable within one year40/41 | €40,133 | €118,675 | €100,713 | €165,083 | ▲ 63.9% |
| Trade receivables40 | €2,412 | €1,767 | €28,047 | €22,615 | ▼ 19.4% |
| Other amounts receivable41 | €37,722 | €116,909 | €72,665 | €142,468 | ▲ 96.1% |
| Cash at bank and in hand54/58 | €385 | €31,424 | €11 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €46,018 | €167,803 | €145,310 | €197,155 | ▲ 35.7% |
| Equity10/15 | €26,169 | €2,031 | €2,882 | €1,765 | ▼ 38.8% |
| Contributions10/11 | €1,600 | €1,600 | €1,600 | €1,600 | = |
| Profit (loss) carried forward14 | €24,569 | €431 | €1,282 | €165 | ▼ 87.1% |
| Amounts payable17/49 | €19,849 | €165,772 | €142,428 | €195,390 | ▲ 37.2% |
| Amounts payable within one year42/48 | €19,849 | €165,772 | €142,428 | €195,390 | ▲ 37.2% |
| Trade debts44 | - | €50,374 | €88,273 | €126 | ▼ 99.9% |
| Suppliers440/4 | - | €50,374 | €88,273 | €126 | ▼ 99.9% |
| Taxes, remuneration and social security45 | €19,849 | €46,398 | €37,155 | €99,264 | ▲ 167% |
| Taxes450/3 | €19,849 | €46,398 | €23,797 | €84,189 | ▲ 254% |
| Remuneration and social security454/9 | - | - | €13,358 | €15,075 | ▲ 12.9% |
| Other amounts payable47/48 | - | €69,000 | €17,000 | €96,000 | ▲ 465% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,569 | €44,862 | €17,851 | €94,883 | ▲ 432% |
| + Depreciation and write-downs630 | - | €1,233 | €5,885 | €8,497 | ▲ 44.4% |
| Operating cash flow (approximation) | €24,569 | €46,095 | €23,737 | €103,380 | ▲ 336% |
| Investment in fixed assets (approximation) | - | -€13,437 | -€32,768 | €4,017 | ▲ 112% |
| Change in cash | - | €31,039 | -€31,413 | - | - |
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
2026
30-03
State Gazette act
Appointment: Belhadi Achraf (director)Registered-office move3 facts ▸
State Gazette act
Appointment: Belhadi Achraf (director)
Registered-office move3 facts ▸
- General meeting, 17 februari 2026
- Registered-office move, Uitbreidingstraat 84/3, 2600 Antwerpen
- Director appointment, Belhadi Achraf (director)
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 92 days late
2024
31-12
Financial
Highest result since 2021net €94,883 ▲432%
Operating result €134,994, net result €94,883, both a record.
16-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 138 days late
2023
31-12
Financial
Weakest financial yearnet €17,851 ▼60.2%
Net result drops to €17,851, the lowest in the series; recovery starts the following year.
06-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 128 days late
2022
09-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 director, last change in 2026
BELHADI Achraf
CurrentDirector · since 30-03-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2020
Ground area
9,631 m²
Building footprint
998 m²
Volume, LiDAR
20,276 m³
Parcel 11303B0445/00N008, Flanders · tallest building 25.2 m, ±6 floors. Linked by address, not a title deed.
153
companies at this address
See who is registered here
1 establishment unit
Expert Solution
since 20202.310.085.583
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11303B0445/00N008 | Flanders | 9,631 m² | 1 · 998 m² | 25.2 m · 6 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| BELHADI Achraf |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Similar companies · same sector, comparable size
CEVO-TECH
BE 0793.922.036
Zele · Eq €1,719
SK TECHNICS
BE 1021.472.554
Rotselaar · Eq €1,706
WALTEL
BE 1009.971.621
Vorst · Eq €1,873
Netcom Technics
BE 0745.521.907
Gent · Eq €1,886
BAT HOUSE
BE 1007.000.946
Ittre · Eq €1,919
Of 1,824 companies in sector 42220 we hold annual accounts for 956. 177 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
Founded18-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
74999Other professional, scientific and technical activities
Scores and ratios are computed by Checked and are not a credit decision.