Insaver
ActiveSummary
Insaver has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €8.8m and a net result of €3.6m. Equity is growing by ~90.3% per year across the filed fiscal years. Its solvency ranks better than 52% of 3551 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability81▼-19
Solvency67▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600,000 at 30 days acceptable
Liquidity ample (current ratio 2.56 against 2.11 in 2023; short-term debt: 29.4% and cash: 16.9% of total assets), but 58.3% 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 · 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
41.7%
Return on assets
17.2%
Age of the figures
21 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
36 d early
2022
38 d early
2021
53 d early
2020
47 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 6 accounts on average 37 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 (1)
History
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 Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?ELECTRICITE DE FRANCE · 66 companies
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Financials · fiscal year 2024, full schema
In the rankings
#1 company by total assets in Houthalen-Helchteren, Construction sector#2 company by equity in Houthalen-Helchteren, Construction sector#5 employer in Houthalen-Helchteren, Construction sector
Turnover
€44.4m
EBIT margin
10.7%
Net result
€3.6m▼ 26.5%
2023 · €4.9m
Working capital
€9.7m▼ 6.2%
2023 · €10.3m
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
Line20202021202220232024
Turnover€44.4m
Operating result€902,035▲ 103%€2.8m▲ 214%€4.0m▲ 41.4%€6.5m▲ 62.3%€4.8m▼ 27.0%
Net result€648,844▲ 124%€2.1m▲ 221%€3.0m▲ 42.6%€4.9m▲ 66.2%€3.6m▼ 26.5%
EBIT margin10.7%
Equity€964,126▲ 81.8%€3.0m▲ 216%€4.5m▲ 48.3%€7.0m▲ 54.0%€8.8m▲ 26.3%
Total assets€4.7m▲ 16.8%€6.4m▲ 35.0%€14.9m▲ 135%€19.8m▲ 32.4%€21.1m▲ 6.6%
Debt€3.7m▲ 7.0%€3.3m▼ 11.6%€10.4m▲ 214%€12.8m▲ 23.1%€11.9m▼ 7.4%
Working capital€1.1m▲ 58.4%€3.4m▲ 206%€8.4m▲ 150%€10.3m▲ 23.4%€9.7m▼ 6.2%
Staff (FTE)29.1▲ 9.4%23.8▼ 18.2%25.7▲ 8.0%32.8▲ 27.6%34.8▲ 6.1%
Why a figure moved sharply
- 2023 Net result +66%, Equity +54% on 2022. Cause not known from the registers.
- 2022 Total assets +135% on 2021. Cause not known from the registers.
- 2021 Net result +221%, Equity +216% on 2020. Cause not known from the registers.
- 2020 Net result +124%, Equity +82% on 2019. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 27% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €21.1m
Fixed assets
€5.2m ▲ 4,365%
Current assets
€15.9m ▼ 19.2%
Equity and liabilities €21.1m
Equity
€8.8m ▲ 26.3%
Provisions
€431,004
Debt
€11.9m ▼ 7.4%
Debt's share of the balance-sheet total falls from 64.8% to 56.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€4.8m▼
2023 · €6.5m
Cash flow
€3.7m▼
2023 · €5.0m
Current ratio
2.56▲
2023 · 2.11
Quick ratio
2.13▲
2023 · 1.63
Debt to equity
1.35▼
2023 · 1.84
ROE
41.3%▼
2023 · 71.0%
ROA
17.2%▼
2023 · 25.0%
Interest coverage
166.48▼
2023 · 364.60
Debt ≤ 1 year
€6.2m▼
2023 · €9.3m
Debt > 1 year
€2.1m
Income taxes
€1.3m▼
2023 · €1.8m
Staff costs
€2.9m▲
2023 · €2.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 17,792 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €44.0m | - |
| Turnover70 | - | - | - | - | €44.4m | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | - | -€591,039 | - |
| Own construction capitalised72 | - | - | - | - | €73,466 | - |
| Other operating income74 | - | - | - | - | €161,351 | - |
| Non-recurring operating income76A | - | €0 | - | - | - | - |
| Operating charges60/66A | - | - | - | - | €39.3m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €30.0m | - |
| Purchases600/8 | - | - | - | - | €28.8m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | €1.2m | - |
| Services and other goods61 | - | - | - | - | €5.9m | - |
| Remuneration, social security and pensions62 | - | €1.4m | €1.8m | €2.8m | €2.9m | ▲ 5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,371 | €18,799 | €5,544 | €18,393 | €69,226 | ▲ 276% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €3,858 | €30,585 | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €431,004 | - |
| Other operating charges640/8 | - | €20,246 | €26,457 | €20,462 | €25,644 | ▲ 25.3% |
| Gross operating margin9900 | €2.6m | €4.3m | €5.9m | €9.3m | - | - |
| Operating profit (loss)9901 | €902,035 | €2.8m | €4.0m | €6.5m | €4.8m | ▼ 27.0% |
| Financial income75/76B | - | €1,226 | €1,417 | €218,561 | €227,483 | ▲ 4.1% |
| Recurring financial income75 | €2,748 | €1,226 | €1,417 | €218,561 | €227,483 | ▲ 4.1% |
| Income from current assets751 | - | - | - | - | €191,986 | - |
| Other financial income752/9 | - | - | - | - | €35,497 | - |
| Financial charges65/66B | - | €19,471 | €11,476 | €17,915 | €67,217 | ▲ 275% |
| Recurring financial charges65 | €21,361 | €19,471 | €11,476 | €17,915 | €67,217 | ▲ 275% |
| Debt charges650 | - | - | - | - | €28,964 | - |
| Other financial charges652/9 | - | - | - | - | €38,253 | - |
| Profit (loss) for the period before taxes9903 | €883,421 | €2.8m | €4.0m | €6.7m | €4.9m | ▼ 26.8% |
| Income taxes67/77 | €234,577 | €734,657 | €1.0m | €1.8m | €1.3m | ▼ 27.8% |
| Taxes670/3 | - | - | - | - | €1.3m | - |
| Profit (loss) for the period9904 | €648,844 | €2.1m | €3.0m | €4.9m | €3.6m | ▼ 26.5% |
| Profit (loss) for the period to be appropriated9905 | €648,844 | €2.1m | €3.0m | €4.9m | €3.6m | ▼ 26.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.7m | €6.4m | €14.9m | €19.8m | €21.1m | ▲ 6.6% |
| Fixed assets21/28 | €30,686 | €11,144 | €18,532 | €116,384 | €5.2m | ▲ 4,365% |
| Intangible fixed assets21 | €0 | - | - | €3,651 | €62,784 | ▲ 1,620% |
| Tangible fixed assets22/27 | €29,886 | €10,344 | €17,732 | €111,933 | €624,433 | ▲ 458% |
| Plant, machinery and equipment23 | - | €2,807 | €14,856 | €106,366 | €168,351 | ▲ 58.3% |
| Furniture and vehicles24 | - | €5,989 | €1,850 | €4,913 | €241,433 | ▲ 4,814% |
| Leasing and similar rights25 | - | - | - | €0 | €0 | - |
| Other tangible fixed assets26 | - | €1,548 | €1,026 | €653 | €214,649 | ▲ 32,759% |
| Financial fixed assets28 | €800 | €800 | €800 | €800 | €4.5m | ▲ 563,529% |
| Affiliated companies280/1 | - | - | - | - | €4.5m | - |
| Participating interests280 | - | - | - | - | €4.5m | - |
| Other financial fixed assets284/8 | - | - | - | - | €9,035 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €9,035 | - |
| Current assets29/58 | €4.7m | €6.3m | €14.9m | €19.6m | €15.9m | ▼ 19.2% |
| Stocks and contracts in progress3 | €267,500 | €2.3m | €4.6m | €4.5m | €2.7m | ▼ 39.9% |
| Stocks30/36 | - | €2.0m | €4.2m | €3.9m | €2.7m | ▼ 30.8% |
| Raw materials and consumables30/31 | - | - | - | - | €2.7m | - |
| Contracts in progress37 | - | €363,744 | €332,645 | €605,642 | €14,603 | ▼ 97.6% |
| Amounts receivable within one year40/41 | €2.3m | €1.7m | €5.2m | €7.5m | €8.6m | ▲ 14.5% |
| Trade receivables40 | - | €1.6m | €4.9m | €7.0m | €8.0m | ▲ 13.3% |
| Other amounts receivable41 | - | €95,861 | €286,954 | €529,065 | €689,509 | ▲ 30.3% |
| Current investments50/53 | €20,065 | €20,065 | - | - | - | - |
| Cash at bank and in hand54/58 | €2.0m | €2.3m | €5.2m | €7.0m | €3.6m | ▼ 48.8% |
| Deferred charges and accrued income490/1 | - | €85,382 | €3,947 | €678,351 | €992,130 | ▲ 46.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.7m | €6.4m | €14.9m | €19.8m | €21.1m | ▲ 6.6% |
| Equity10/15 | €964,126 | €3.0m | €4.5m | €7.0m | €8.8m | ▲ 26.3% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €75,141 | €75,141 | €75,141 | €75,141 | €75,141 | = |
| Non-distributable reserves130/1 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | - | €68,991 | €68,991 | €68,991 | €68,991 | = |
| Profit (loss) carried forward14 | €827,485 | €2.9m | €4.4m | €6.8m | €8.7m | ▲ 26.9% |
| Provisions and deferred taxes16 | - | - | - | - | €431,004 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €431,004 | - |
| Environmental obligations163 | - | - | - | - | €431,004 | - |
| Amounts payable17/49 | €3.7m | €3.3m | €10.4m | €12.8m | €11.9m | ▼ 7.4% |
| Amounts payable after more than one year17 | - | - | - | - | €2.1m | - |
| Financial debts170/4 | - | - | - | - | €2.1m | - |
| Other loans174 | - | - | - | - | €2.1m | - |
| Amounts payable within one year42/48 | €3.6m | €3.0m | €6.5m | €9.3m | €6.2m | ▼ 33.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €945,319 | - |
| Financial debts43 | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | €0 | - | - | - | - |
| Trade debts44 | €1.8m | €1.7m | €3.7m | €5.5m | €2.9m | ▼ 48.1% |
| Suppliers440/4 | - | €1.7m | €3.7m | €5.5m | €2.9m | ▼ 48.1% |
| Advances received on contracts in progress46 | - | €578,207 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €751,016 | €1.4m | €1.3m | €582,597 | ▼ 55.0% |
| Taxes450/3 | - | €632,129 | €1.1m | €841,159 | €292,692 | ▼ 65.2% |
| Remuneration and social security454/9 | - | €118,887 | €227,298 | €452,338 | €289,905 | ▼ 35.9% |
| Other amounts payable47/48 | - | €1,236 | €1.5m | €2.5m | €1.8m | ▼ 28.0% |
| Accrued charges and deferred income492/3 | - | €314,096 | €3.9m | €3.5m | €3.6m | ▲ 3.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €648,844 | €2.1m | €3.0m | €4.9m | €3.6m | ▼ 26.5% |
| + Depreciation and write-downs630 | €27,371 | €18,799 | €5,544 | €18,393 | €69,226 | ▲ 276% |
| Operating cash flow (approximation) | €676,215 | €2.1m | €3.0m | €5.0m | €3.7m | ▼ 25.3% |
| Investment in fixed assets (approximation) | - | €743 | -€12,932 | -€116,245 | -€5.1m | ▼ 4,330% |
| Change in cash | - | €215,616 | €2.9m | €1.8m | -€3.4m | ▼ 289% |
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
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €4.9m ▲66.2%
Operating result €6.5m, net result €4.9m, both a record.
31-12
Financial
Equity above €5mEq €7.0m ▲54%
5 profitable years in a row build equity to €7.0m.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €2mEq €3.0m ▲216%
3 profitable years in a row build equity to €3.0m.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €290,140
Net result €290,140 after one loss-making year.
31-12
Financial
Equity above €500,000Eq €530,282 ▲121%
Equity rises from €240,142 to €530,282.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
15-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
24-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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, Houthalen-Helchteren · 2 establishment units since 2012
Ground area
9,195 m²
Building footprint
4,677 m²
Volume, LiDAR
8,827 m³
2 parcels, Flanders · tallest building 9.7 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Insaver
since 20122.213.621.459
Insaver - BU Atom
since 20262.382.264.075
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72015C0166/00Y012 | Flanders | 7,090 m² | 1 · 3,581 m² | 0.6 m |
| 44040B0319/00H006 | Flanders | 2,105 m² | 1 · 1,097 m² | 9.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
ELECTRICITE DE FRANCE
66 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
Highest known parent: EDF BELGIUM. The sources do not say who stands above it.
Owners 1
-
88.51%
Holdings 1
-
100%
According to the 2024 annual accounts of Insaver and those 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
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Recognised contractor
5 categoriesInsaver NV39964
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 622 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded27-08-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43213Specialised construction activities
43230Insulation installation
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43240Other construction installation
43410Roofing work
Contact
Phone
0491256448Houthalen-Helchteren
E-invoicing
Reachable via Peppol
Peppol ID
0208:0848444746
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.