ISSA
ActiveSummary
ISSA has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€264,390) and a net result of €30,500. Equity is shrinking by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+74
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.49 against 0.56 in 2024; short-term debt: 193.7% and cash: 2.8% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
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 2025Solvency, return and age of the figures
Solvency
-93.7%
Return on assets
10.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 14220 sector peers (2025).
NBB · sector comparisonPosition among 14220 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
21 d early
2023
90 d late
2022
143 d late
2021
64 d late
2020
30 d late
2019
61 d late
← 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 56 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€264,390▲ 10.3%
2024 · -€294,890
Total assets
€282,119▼ 29.6%
2024 · €400,702
Net result
€30,500
2024 · -€148,359
Working capital
-€279,324▲ 9.3%
2024 · -€307,962
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20212022202320242025
Operating result€66,427▲ 67.6%€33,153▼ 50.1%-€33,035-€134,790▼ 308%€38,076
Net result€47,304above the sector's middle half▲ 495%€17,293within the sector's middle half▼ 63.4%-€43,552below the sector's middle half-€148,359below the sector's middle half▼ 241%€30,500within the sector's middle half
Equity-€120,272below the sector's middle half▲ 28.2%-€102,979below the sector's middle half▲ 14.4%-€146,531below the sector's middle half▼ 42.3%-€294,890below the sector's middle half▼ 101%-€264,390below the sector's middle half▲ 10.3%
Total assets€479,365within the sector's middle half▲ 4.2%€510,301within the sector's middle half▲ 6.5%€518,456within the sector's middle half▲ 1.6%€400,702within the sector's middle half▼ 22.7%€282,119within the sector's middle half▼ 29.6%
Debt€599,637▼ 4.5%€613,280▲ 2.3%€664,987▲ 8.4%€695,592▲ 4.6%€546,508▼ 21.4%
Working capital-€141,594▲ 34.8%-€122,548▲ 13.5%-€165,459▼ 35.0%-€307,962▼ 86.1%-€279,324▲ 9.3%
Solvency-25.1%below the sector's middle half▲ 11.3pp-20.2%below the sector's middle half▲ 4.9pp-28.3%below the sector's middle half▼ 8.1pp-73.6%below the sector's middle half▼ 45.3pp-93.7%below the sector's middle half▼ 20.1pp
Staff (FTE)1▼ 50.0%2▲ 100%2.2▲ 10.0%2.4▲ 9.1%3.3▲ 37.5%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €38,076 after a loss of €134,790 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €282,119
Fixed assets
€14,934 ▲ 14.2%
Current assets
€267,185 ▼ 31.1%
Key figures and ratios
EBITDA
€45,594▲
2024 · -€126,965
Cash flow
€38,018▲
2024 · -€140,534
Current ratio
0.49▼
2024 · 0.56
Debt to equity
-2.07▲
2024 · -2.36
ROA
10.8%▲
2024 · -37.0%
Interest coverage
5.01▲
2024 · -29.48
Debt ≤ 1 year
€546,508▼
2024 · €695,592
Income taxes
€279▼
2024 · €323
Staff costs
€163,771▲
2024 · €107,574
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,639 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% 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 3,639 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €7,955 | - |
| Remuneration, social security and pensions62 | €92,997 | €101,787 | €86,750 | €107,574 | €163,771 | ▲ 52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,892 | €9,244 | €7,162 | €7,825 | €7,518 | ▼ 3.9% |
| Other operating charges640/8 | €19,083 | €5,646 | €9,980 | €6,559 | €1,594 | ▼ 75.7% |
| Gross operating margin9900 | €214,399 | €149,830 | €70,857 | -€12,832 | €210,958 | ▲ 1,744% |
| Operating profit (loss)9901 | €66,427 | €33,153 | -€33,035 | -€134,790 | €38,076 | ▲ 128% |
| Financial income75/76B | €4,411 | €6,528 | €2,230 | €44 | €1,799 | ▲ 3,988% |
| Recurring financial income75 | €9 | €6,528 | €2,230 | €44 | €1,799 | ▲ 3,988% |
| Non-recurring financial income76B | €4,402 | €6,528 | €2,230 | €44 | €0 | ▼ 100% |
| Financial charges65/66B | €15,669 | €14,458 | €12,433 | €13,290 | €9,095 | ▼ 31.6% |
| Recurring financial charges65 | €4,540 | €3,196 | €2,871 | €4,307 | €9,095 | ▲ 111% |
| Non-recurring financial charges66B | €11,129 | €11,262 | €9,562 | €8,983 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €55,169 | €25,223 | -€43,238 | -€148,036 | €30,780 | ▲ 121% |
| Income taxes67/77 | €7,865 | €7,930 | €314 | €323 | €279 | ▼ 13.5% |
| Profit (loss) for the period9904 | €47,304 | €17,293 | -€43,552 | -€148,359 | €30,500 | ▲ 121% |
| Profit (loss) for the period to be appropriated9905 | €47,304 | €17,293 | -€43,552 | -€148,359 | €30,500 | ▲ 121% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €479,365 | €510,301 | €518,456 | €400,702 | €282,119 | ▼ 29.6% |
| Fixed assets21/28 | €21,322 | €19,569 | €19,449 | €13,072 | €14,934 | ▲ 14.2% |
| Tangible fixed assets22/27 | €21,322 | €19,569 | €19,449 | €13,072 | €14,934 | ▲ 14.2% |
| Plant, machinery and equipment23 | €10,946 | €6,114 | €7,616 | €6,334 | €4,043 | ▼ 36.2% |
| Furniture and vehicles24 | €10,376 | €13,455 | €11,833 | €6,738 | €10,891 | ▲ 61.6% |
| Current assets29/58 | €458,043 | €490,732 | €499,007 | €387,630 | €267,185 | ▼ 31.1% |
| Stocks and contracts in progress3 | - | €5,000 | - | - | - | - |
| Stocks30/36 | - | €5,000 | - | - | - | - |
| Amounts receivable within one year40/41 | €451,593 | €455,752 | €492,321 | €376,236 | €258,786 | ▼ 31.2% |
| Trade receivables40 | €268,950 | €271,510 | €284,482 | €270,851 | €177,272 | ▼ 34.6% |
| Other amounts receivable41 | €182,643 | €184,242 | €207,839 | €105,385 | €81,514 | ▼ 22.7% |
| Cash at bank and in hand54/58 | €2,866 | €26,157 | €5,328 | €11,148 | €7,781 | ▼ 30.2% |
| Deferred charges and accrued income490/1 | €3,584 | €3,823 | €1,358 | €246 | €619 | ▲ 151% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €479,365 | €510,301 | €518,456 | €400,702 | €282,119 | ▼ 29.6% |
| Equity10/15 | -€120,272 | -€102,979 | -€146,531 | -€294,890 | -€264,390 | ▲ 10.3% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€140,272 | -€122,979 | -€166,531 | -€314,890 | -€284,390 | ▲ 9.7% |
| Amounts payable17/49 | €599,637 | €613,280 | €664,987 | €695,592 | €546,508 | ▼ 21.4% |
| Amounts payable within one year42/48 | €599,637 | €613,280 | €664,466 | €695,592 | €546,508 | ▼ 21.4% |
| Current portion of amounts payable after more than one year42 | €2,685 | - | - | - | - | - |
| Trade debts44 | €24,197 | €26,203 | €52,954 | €30,878 | €27,135 | ▼ 12.1% |
| Suppliers440/4 | €24,197 | €26,203 | €52,954 | €30,878 | €27,135 | ▼ 12.1% |
| Taxes, remuneration and social security45 | €14,802 | €15,794 | €2,069 | €9,339 | €8,777 | ▼ 6.0% |
| Taxes450/3 | €8,297 | €15,794 | €344 | €326 | €321 | ▼ 1.7% |
| Remuneration and social security454/9 | €6,505 | - | €1,725 | €9,013 | €8,456 | ▼ 6.2% |
| Other amounts payable47/48 | €557,953 | €571,283 | €609,443 | €655,375 | €510,597 | ▼ 22.1% |
| Accrued charges and deferred income492/3 | - | - | €521 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,304 | €17,293 | -€43,552 | -€148,359 | €30,500 | ▲ 121% |
| + Depreciation and write-downs630 | €35,892 | €9,244 | €7,162 | €7,825 | €7,518 | ▼ 3.9% |
| Operating cash flow (approximation) | €83,196 | €26,537 | -€36,390 | -€140,534 | €38,018 | ▲ 127% |
| Investment in fixed assets (approximation) | - | -€7,491 | -€7,042 | -€1,448 | -€9,380 | ▼ 548% |
| Change in cash | - | €23,291 | -€20,829 | €5,820 | -€3,367 | ▼ 158% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Back to profitnet €30,500
Net result €30,500 after 2 loss-making years.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€148,359
Net result drops to -€148,359, the lowest in the series; recovery starts the following year.
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 90 days late
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 143 days late
2022
03-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 64 days late
2021
31-12
Financial
Highest result since 2018net €47,304 ▲495%
Operating result €66,427, net result €47,304, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Back to profitnet €7,948
Net result €7,948 after 2 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 54 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
07-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 99 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Antwerpen · 2 establishment units since 2007
Ground area
790 m²
Building footprint
427 m²
Volume, LiDAR
5,046 m³
2 parcels, Flanders · tallest building 18.3 m, ±5 floors. Linked by address, not a title deed.
21
companies at this address
See who is registered here
2 establishment units
ISSA
since 20072.163.751.383
EIGENWIJS
since 20192.285.808.265
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11303C0286/00F007 | Flanders | 605 m² | 1 · 243 m² | 18.3 m · 5 fl. |
| 11303B0441/00B006 | Flanders | 185 m² | 1 · 185 m² | 15.4 m · 4 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 3,975 EUR awarded · 3,975 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 1,920 EUR | 1,920 EUR |
| 2022 | 1 | 2,055 EUR | 2,055 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.285.808.265
Care and welfare
2 services · 1 liveEigenwijs
Eigenwijs
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-04-2007
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
88911Day nurseries and crèches
Contact
Phone
0475/24.56.95Antwerpen
E-invoicing
Reachable via Peppol
Peppol ID
0208:0888843959
Also
9925:BE0888843959
Registered
15-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.