Debts
€89,141 ▲ 524%
Debts rose by €74,859 in 2025.
ISA-23
Lifetime
3 annual accounts with figures on one time axispeak €28,562 (2025)
€28,562▲ €30,671
lowest -€4,680 (2024)
€16,957▲ €21,638
peak €30,064 (2025)
€30,064▲ 129%
€89,141▲ 524%
Board1 name since 2023
1 directorMEHMED Mehmed Nezhdet
Documentsfilings and deeds
30-09-202661 days late
2025micro format
Gross margin from -€2,110 to €28,562Back to profit: €16,957Equity from €13,107 to €30,064Debts from €14,282 to €89,141Investments €4,783Cash from €3,185 to €15,054
Key points
from the 2025 annual accountsInvestments
€4,783 4.0 × depreciation
Green is investment, beige is depreciation. Machinery stands 199.4% higher than in 2024.
Filings
3 annual accounts 61 days
Latest accounts filed late: after the legal deadline.
Checked score
49
Fair
Financially stronger than 53% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
4.2% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.9%
01-2025: 1.9%● unchanged vs 12-2024
02-2025: 1.9%● unchanged vs 01-2025lowest value
03-2025: 2.0%▲ +0.1 percentage points vs 02-2025
04-2025: 2.0%● unchanged vs 03-2025
05-2025: 2.0%● unchanged vs 04-2025
06-2025: 2.0%● unchanged vs 05-2025
07-2025: 2.0%● unchanged vs 06-2025
08-2025: 2.6%▲ +0.6 percentage points vs 07-2025
09-2025: 3.5%▲ +0.9 percentage points vs 08-2025
10-2025: 3.5%● unchanged vs 09-2025
11-2025: 3.5%● unchanged vs 10-2025
12-2025: 3.5%● unchanged vs 11-2025
01-2026: 3.4%▼ -0.1 percentage points vs 12-2025
02-2026: 3.3%▼ -0.1 percentage points vs 01-2026
03-2026: 3.4%▲ +0.1 percentage points vs 02-2026
04-2026: 3.5%▲ +0.1 percentage points vs 03-2026
05-2026: 3.6%▲ +0.1 percentage points vs 04-2026
06-2026: 3.6%● unchanged vs 05-2026
07-2026: 3.6%● unchanged vs 06-2026
08-2026: 4.1%▲ +0.5 percentage points vs 07-2026
09-2026: 3.8%▼ -0.3 percentage points vs 08-2026
10-2026: 4.2%▲ +0.4 percentage points vs 09-2026highest value
11-2026: 4.2%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Last filed accounts filed 61 days late; 2 of the last 3 accounts late
Founded in 2023
Size: total assets €119,205
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 32% of them on solvency, 21% on liquidity, 70% on profitability and 91% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 7,976 companies had the same profile as ISA-23 has now. Each dot stands for 20 companies, two years later.
94.3%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ISA-23 itself: 4.2% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,976 companies, not a prediction for ISA-23. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is tight, with a current ratio of 1.28 (1.78 in 2024), below the usual 1.5. Short-term debt is 74.8% and cash 12.6% of total assets. 74.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
raises risk
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filingsDeviation from the deadline
2025
61 days late
2024
28 days late
2023
89 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 59 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 September (3 of the last 3 accounts filed within 33 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- MEHMED Mehmed Nezhdet founderdeed of 06-01-2023
- Mehmed Mehmed 100 sharesdeed of 06-01-2023
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0795714061
Incorporation
Founding capital of €1,000, 100 shares · Founder: MEHMED Mehmed Nezhdet · Appointment: MEHMED Mehmed Nezhdet (director) · published on 06-01-2023 · Gazette deed
First establishment
Desiderius Erasmusstraat 23, Ghent
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ISA-23 Ghent | - | - | 25.2% | - |
| One Roofing Projet Ghent | - | - | 50.9% | - |
| DLM-Tech Deinze | €0.4m | 2.4% | 28.1% | - |
| HAY GROUP Sint-Martens-Latem | - | - | 7.5% | - |
| DHERTOGE PROJECTS Deinze | - | - | 67.8% | - |
| LMC Total Project Destelbergen | €1.0m | 2.2% | 59.8% | - |
| Algemene Bouwwerken Calmeyn Ghent | - | - | -6.9% | - |
These companies have the same main activity as ISA-23: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €119,000 and €129,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 04-01-2023Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 5 others
- Establishment unit
- 2.340.040.5699000 Ghent, since 04-01-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 18-12-2025
Annual accounts 2025
- ≈ €200,000estimated
- €119,205▲ 335%
- Employeeson 31-12-2025
- 1
- Filing
- Filed on 30-09-2026
Insights on ISA-23
ISA-23 files the micro format. That format states no turnover. The gross margin rose from €25,056 in 2023 to €28,562 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ISA-23
- What is the company number of ISA-23?
- The company number of ISA-23 is 0795.714.061. The VAT number is the same number with BE in front: BE 0795.714.061.
- Where is ISA-23 based?
- The registered office is at Desiderius Erasmusstraat 23, 9000 Ghent.Company details
- What does ISA-23 do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of ISA-23?
- ISA-23 is a private limited company (BV).
- When was ISA-23 founded?
- ISA-23 was founded on 04-01-2023.
- Is ISA-23 still active?
- Yes, ISA-23 is an active enterprise in the KBO register.
- How many employees does ISA-23 have?
- ISA-23 had an average of 0.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of ISA-23?
- The turnover in financial year 2025 is ≈ €200,000. This figure is estimated from the gross margin of €28,562 and 164 comparable companies (NACE 41001). It probably lies between €110,000 and €360,000.
- Is ISA-23 profitable?
- In financial year 2025, ISA-23 made a profit of €16,957.
- Where can I find the annual accounts of ISA-23?
- ISA-23 filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ISA-23 due?
- ISA-23 must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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