Group De Keyzer
ActiveSummary
Group De Keyzer has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.8m and a net result of €4,054. Equity remains stable across the filed fiscal years (±1.9% per year). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability44▲+5
Solvency87▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170,000 at 30 days acceptable
Liquidity ample (current ratio 2.56 against 2.82 in 2023; short-term debt: 36.7% and cash: 1.8% of total assets), and 37.7% of the assets are financed with debt.
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Signals
Four 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
62.3%
Return on assets
0.1%
Age of the figures
21 mo
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 17-06-2026, 44 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
44 d early
2024
14 d early
2023
12 d early
2022
4 d early
2021
16 d early
2020
15 d early
2019
14 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 17 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. Usually files around 17 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#4 employer in Menen, Construction sector#6 company by equity in Menen, Construction sector#8 company by total assets in Menen, Construction sector
Equity
€2.8m▲ 0.1%
2023 · €2.8m
Total assets
€4.4m▲ 5.7%
2023 · €4.2m
Net result
€4,054▼ 62.9%
2023 · €10,921
Working capital
€2.5m=
2023 · €2.5m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€211,112▲ 188%€157,221▼ 25.5%€25,271▼ 83.9%€40,436▲ 60.0%€26,062▼ 35.5%
Net result€144,407above the sector's middle half▲ 560%€103,804within the sector's middle half▼ 28.1%€5,514below the sector's middle half▼ 94.7%€10,921within the sector's middle half▲ 98.1%€4,054below the sector's middle half▼ 62.9%
Equity€2.6mabove the sector's middle half▲ 5.6%€2.7mabove the sector's middle half▲ 3.8%€2.8mabove the sector's middle half▲ 0.2%€2.8mabove the sector's middle half▲ 0.4%€2.8mabove the sector's middle half▲ 0.1%
Total assets€4.3mabove the sector's middle half▲ 1.0%€4.7mabove the sector's middle half▲ 10.3%€4.5mabove the sector's middle half▼ 6.0%€4.2mabove the sector's middle half▼ 5.7%€4.4mabove the sector's middle half▲ 5.7%
Debt€1.6m▼ 5.3%€2.0m▲ 20.8%€1.7m▼ 14.6%€1.4m▼ 15.4%€1.7m▲ 16.5%
Working capital€2.5mabove the sector's middle half▲ 9.9%€2.7mabove the sector's middle half▲ 6.1%€2.7mabove the sector's middle half▼ 1.2%€2.5mabove the sector's middle half▼ 4.3%€2.5mabove the sector's middle half=
Solvency61.7%above the sector's middle half▲ 2.6pp58.0%within the sector's middle half▼ 3.6pp61.9%above the sector's middle half▲ 3.8pp65.8%above the sector's middle half▲ 3.9pp62.3%within the sector's middle half▼ 3.5pp
Current ratio2.56within the sector's middle half▲ 0.212.37within the sector's middle half▼ 0.192.62within the sector's middle half▲ 0.252.82within the sector's middle half▲ 0.202.56within the sector's middle half▼ 0.26
Return on assets (ROA)3.4%within the sector's middle half▲ 2.8pp2.2%within the sector's middle half▼ 1.2pp0.1%below the sector's middle half▼ 2.1pp0.3%below the sector's middle half▲ 0.1pp0.1%below the sector's middle half▼ 0.2pp
Staff (FTE)48.6above the sector's middle half▲ 1.0%48.2above the sector's middle half▼ 0.8%43.2above the sector's middle half▼ 10.4%37.6above the sector's middle half▼ 13.0%34.6above the sector's middle half▼ 8.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 36% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.4m
Fixed assets
€261,830 ▲ 3.0%
Current assets
€4.2m ▲ 5.9%
Equity and liabilities €4.4m
Equity
€2.8m ▲ 0.1%
Provisions
€0 ▼ 100%
Debt
€1.7m ▲ 16.5%
Debt's share of the balance-sheet total rises from 34.2% to 37.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€97,946▼
2023 · €105,477
Cash flow
€75,938=
2023 · €75,962
Quick ratio
1.58▼
2023 · 1.73
Debt to equity
0.60▲
2023 · 0.52
ROE
0.1%▼
2023 · 0.4%
Interest coverage
2.99▲
2023 · 2.34
Debt ≤ 1 year
€1.6m▲
2023 · €1.4m
Debt > 1 year
€41,010▲
2023 · €36,665
Income taxes
€11,778▼
2023 · €15,948
Staff costs
€1.7m▼
2023 · €1.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,732 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €2.2m | €2.0m | €1.9m | €1.7m | ▼ 10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €112,352 | €79,051 | €43,479 | €65,041 | €71,884 | ▲ 10.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | €11,609 | €0 | ▼ 100% |
| Other operating charges640/8 | - | €19,722 | €8,261 | €6,978 | €6,525 | ▼ 6.5% |
| Non-recurring operating charges66A | - | €0 | €900 | €0 | - | - |
| Gross operating margin9900 | €2.3m | €2.5m | €2.1m | €2.0m | €1.8m | ▼ 10.4% |
| Operating profit (loss)9901 | €211,112 | €157,221 | €25,271 | €40,436 | €26,062 | ▼ 35.5% |
| Financial income75/76B | - | €60,791 | €45,879 | €31,236 | €22,542 | ▼ 27.8% |
| Recurring financial income75 | €57,534 | €60,791 | €45,879 | €31,236 | €22,542 | ▼ 27.8% |
| Financial charges65/66B | - | €68,053 | €50,777 | €45,068 | €32,774 | ▼ 27.3% |
| Recurring financial charges65 | €67,321 | €68,053 | €50,777 | €45,068 | €32,774 | ▼ 27.3% |
| Profit (loss) for the period before taxes9903 | €201,325 | €149,958 | €20,373 | €26,603 | €15,829 | ▼ 40.5% |
| Transfer from deferred taxes780 | - | €1,156 | €409 | €266 | €3 | ▼ 99.1% |
| Income taxes67/77 | €58,676 | €47,311 | €15,268 | €15,948 | €11,778 | ▼ 26.1% |
| Profit (loss) for the period9904 | €144,407 | €103,804 | €5,514 | €10,921 | €4,054 | ▼ 62.9% |
| Profit (loss) for the period to be appropriated9905 | €144,407 | €103,804 | €5,514 | €10,921 | €4,054 | ▼ 62.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.3m | €4.7m | €4.5m | €4.2m | €4.4m | ▲ 5.7% |
| Fixed assets21/28 | €127,875 | €76,515 | €152,447 | €254,182 | €261,830 | ▲ 3.0% |
| Tangible fixed assets22/27 | €127,875 | €76,515 | €152,447 | €254,182 | €261,830 | ▲ 3.0% |
| Plant, machinery and equipment23 | - | €38,190 | €98,349 | €150,963 | €151,567 | ▲ 0.4% |
| Furniture and vehicles24 | - | €28,436 | €47,450 | €82,395 | €97,107 | ▲ 17.9% |
| Leasing and similar rights25 | - | €9,889 | €6,649 | €3,409 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €17,416 | €13,156 | ▼ 24.5% |
| Current assets29/58 | €4.2m | €4.7m | €4.3m | €3.9m | €4.2m | ▲ 5.9% |
| Stocks and contracts in progress3 | €1.5m | €1.6m | €1.7m | €1.5m | €1.6m | ▲ 4.9% |
| Stocks30/36 | - | €1.6m | €1.7m | €1.5m | €1.6m | ▲ 4.9% |
| Amounts receivable within one year40/41 | €2.4m | €2.2m | €2.1m | €2.2m | €2.5m | ▲ 12.5% |
| Trade receivables40 | - | €1.1m | €1.1m | €1.1m | €720,759 | ▼ 36.0% |
| Other amounts receivable41 | - | €1.1m | €977,505 | €1.1m | €1.7m | ▲ 64.4% |
| Cash at bank and in hand54/58 | €286,440 | €848,708 | €386,435 | €183,444 | €81,153 | ▼ 55.8% |
| Deferred charges and accrued income490/1 | - | €14,659 | €128,122 | €52,370 | €39,641 | ▼ 24.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.3m | €4.7m | €4.5m | €4.2m | €4.4m | ▲ 5.7% |
| Equity10/15 | €2.6m | €2.7m | €2.8m | €2.8m | €2.8m | ▲ 0.1% |
| Contributions10/11 | - | €50,421 | €50,421 | €50,421 | €50,421 | = |
| Reserves13 | €2.6m | €2.7m | €2.7m | €2.7m | €2.7m | ▲ 0.1% |
| Non-distributable reserves130/1 | - | €10,000 | €10,000 | €0 | - | - |
| Reserves not available under the articles1311 | - | €10,000 | €10,000 | €0 | - | - |
| Tax-exempt reserves132 | - | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Distributable reserves133 | - | €2.7m | €2.7m | €2.7m | €2.7m | ▲ 0.1% |
| Investment grants15 | - | €2,031 | €805 | €8 | €0 | ▼ 100% |
| Provisions and deferred taxes16 | €1,833 | €677 | €268 | €3 | €0 | ▼ 100% |
| Deferred taxes168 | - | €677 | €268 | €3 | €0 | ▼ 100% |
| Amounts payable17/49 | €1.6m | €2.0m | €1.7m | €1.4m | €1.7m | ▲ 16.5% |
| Amounts payable after more than one year17 | €17,139 | €20,428 | €59,103 | €36,665 | €41,010 | ▲ 11.9% |
| Financial debts170/4 | - | €20,428 | €59,103 | €36,665 | €41,010 | ▲ 11.9% |
| Amounts payable within one year42/48 | €1.6m | €2.0m | €1.6m | €1.4m | €1.6m | ▲ 16.6% |
| Current portion of amounts payable after more than one year42 | - | €16,599 | €27,088 | €22,438 | €30,180 | ▲ 34.5% |
| Financial debts43 | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | €0 | - | - | - | - |
| Trade debts44 | €1.1m | €1.4m | €931,250 | €1.0m | €268,216 | ▼ 74.4% |
| Suppliers440/4 | - | €1.4m | €931,250 | €1.0m | €268,216 | ▼ 74.4% |
| Taxes, remuneration and social security45 | - | €286,116 | €288,059 | €275,420 | €310,717 | ▲ 12.8% |
| Taxes450/3 | - | €63,917 | €40,443 | €38,962 | €60,974 | ▲ 56.5% |
| Remuneration and social security454/9 | - | €222,198 | €247,616 | €236,458 | €249,743 | ▲ 5.6% |
| Other amounts payable47/48 | - | €254,065 | €391,281 | €52,042 | €1.0m | ▲ 1,863% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €144,407 | €103,804 | €5,514 | €10,921 | €4,054 | ▼ 62.9% |
| + Depreciation and write-downs630 | €112,352 | €79,051 | €43,479 | €65,041 | €71,884 | ▲ 10.5% |
| Operating cash flow (approximation) | €256,759 | €182,854 | €48,993 | €75,962 | €75,938 | = |
| Investment in fixed assets (approximation) | - | -€27,690 | -€119,412 | -€166,776 | -€79,532 | ▲ 52.3% |
| Change in cash | - | €562,268 | -€462,272 | -€202,992 | -€102,290 | ▲ 49.6% |
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
09-07
State Gazette act
Board meeting · Director resignation
General meeting · Director appointment
17-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €4,054 ▼62.9%
Net result drops to €4,054, the lowest in the series.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €144,407 ▲560%
Operating result €211,112, net result €144,407, both a record.
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Menen · 1 establishment unit since 1992
Ground area
2.8 ha
Building footprint
1.4 ha
Volume, LiDAR
68,133 m³
Parcel 34027F0491/00E000, Flanders · tallest building 10.5 m, ±1 floor. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
GROUP DE KEYZER
since 19922.057.432.158
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34027F0491/00E000 | Flanders | 2.8 ha | 1 · 1.4 ha | 10.5 m · 1 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.
Structure & network
Owners and holdings
1 ownerChain of control
- De Keyzer Beheer
- Group De Keyzer
Highest known parent: De Keyzer Beheer. The sources do not say who stands above it.
Owners 1
- De Keyzer Beheerparent98.13%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 112,653 EUR awarded · 112,653 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,841 EUR | 1,841 EUR |
| 2024 | 1 | 4,281 EUR | 4,281 EUR |
| 2023 | 2 | 88,213 EUR | 88,213 EUR |
| 2022 | 1 | 18,318 EUR | 18,318 EUR |
Recognitions · licences · registrations
Dual-learning approval
1 live approval · 2 endedInterieurbouwer duaal (so)
Show 2 ended approvals
Interieurbouwer duaal (so)
Operator CNC-gestuurde houtbewerkingsmachines duaal (so)
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Of 7,302 companies in sector 43350 we hold annual accounts for 2,364. 395 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
Founded26-12-1991
Fiscal year end31-12
Activities, NACEBEL 2025
31002Manufacture of furniture
43350Other building finishing work
47551Retail sale of household furniture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446214351
Registered
18-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.