ISV Construct
ActiveSummary
ISV Construct has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28,977 and a net result of -€16,035. Equity remains stable across the filed financial years (±2% per year). Its solvency ranks better than 84% of 2,050 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Equity
- €28,977
- Loss
- -€16,035
Why 84raises riskLoss of €16,035 (financial year 2025)1 change of registered office in 24 monthslowers riskLiquidity: current ratio 2.85, cash €15,043Sector: Advertising, market research and public relations activities (NACE 73)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 73, micro): better than 87% on solvency, 89% on liquidity, 6% on profitability and 11% on growth.
The bankruptcy probability was computed on 18-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 19 days after the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Weakest financial yearnet -€16,035
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result turns negative in 2025: a loss of €15,981 after €23,211 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 3,592 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 87.4% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 497,472 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 74.5% 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 3,592 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | €59,340 | €17,066 | €52,517 | €110,014 | €21,399 | ▼ 80.5% |
| Non-recurring operating income76A | - | - | €0 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €12,100 | €53,702 | €82,046 | €31,111 | ▼ 62.1% |
| Remuneration, social security and pensions62 | - | - | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,420 | €5,827 | €4,992 | €3,388 | €3,294 | €3,975 | €5,380 | ▲ 35.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €0 | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | €1,211 | €82 | €1,168 | €781 | €889 | ▲ 13.8% |
| Operating charges capitalised as restructuring costs649 | - | - | €0 | - | - | - | - | - |
| Non-recurring operating charges66A | - | - | €0 | - | - | - | - | - |
| Gross operating margin9900 | €44,693 | €18,063 | €1,701 | €4,966 | -€1,185 | €27,967 | -€9,712 | - |
| Operating profit (loss)9901 | €24,761 | €9,583 | -€4,502 | €1,496 | -€5,647 | €23,211 | -€15,981 | - |
| Financial income75/76B | - | - | €0 | - | €1 | - | - | - |
| Recurring financial income75 | €391 | €4 | €0 | - | €1 | - | - | - |
| Non-recurring financial income76B | - | - | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | €145 | €291 | €118 | €146 | €54 | ▼ 63.0% |
| Recurring financial charges65 | €167 | €135 | €145 | €291 | €118 | €146 | €54 | ▼ 63.0% |
| Non-recurring financial charges66B | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €24,985 | €9,452 | -€4,647 | €1,205 | -€5,764 | €23,065 | -€16,035 | - |
| Transfer from deferred taxes780 | - | - | €0 | - | - | - | - | - |
| Transfer to deferred taxes680 | - | - | €0 | - | - | - | - | - |
| Income taxes67/77 | €5,810 | €158 | -€158 | €321 | - | €3,350 | - | - |
| Profit (loss) for the period9904 | €19,175 | €9,294 | -€4,489 | €883 | -€5,764 | €19,715 | -€16,035 | - |
| Transfer from tax-exempt reserves789 | - | - | €0 | - | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €19,175 | €9,294 | -€4,489 | €883 | -€5,764 | €19,715 | -€16,035 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €35,988 | €44,973 | €34,115 | €35,870 | €29,835 | €51,472 | €35,045 | ▼ 31.9% |
| Formation expenses20 | - | - | €0 | - | - | - | - | - |
| Fixed assets21/28 | €9,157 | €15,801 | €10,808 | €7,420 | €4,126 | €23,129 | €17,749 | ▼ 23.3% |
| Intangible fixed assets21 | - | - | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €9,157 | €15,597 | €10,604 | €7,216 | €3,922 | €22,925 | €17,545 | ▼ 23.5% |
| Land and buildings22 | - | - | €0 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | €0 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | €10,604 | €7,216 | €3,922 | €22,925 | €17,545 | ▼ 23.5% |
| Leasing and similar rights25 | - | - | €0 | - | - | - | - | - |
| Other tangible fixed assets26 | - | - | €0 | - | - | - | - | - |
| Assets under construction and advance payments27 | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | - | €204 | €204 | €204 | €204 | €204 | €204 | = |
| Current assets29/58 | €26,831 | €29,172 | €23,306 | €28,450 | €25,709 | €28,343 | €17,296 | ▼ 39.0% |
| Amounts receivable after more than one year29 | - | - | €0 | - | - | - | - | - |
| Trade receivables290 | - | - | €0 | - | - | - | - | - |
| Other amounts receivable291 | - | - | €0 | - | - | - | - | - |
| Stocks and contracts in progress3 | - | - | €0 | - | - | - | - | - |
| Stocks30/36 | - | - | €0 | - | - | - | - | - |
| Contracts in progress37 | - | - | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1,119 | €1,246 | €6,471 | €1,997 | €8,486 | €1,397 | €2,253 | ▲ 61.3% |
| Trade receivables40 | - | - | €5,473 | €1,179 | €7,679 | €0 | - | - |
| Other amounts receivable41 | - | - | €998 | €818 | €807 | €1,397 | €2,253 | ▲ 61.3% |
| Current investments50/53 | - | - | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €24,383 | €27,737 | €16,545 | €26,453 | €17,223 | €26,693 | €15,043 | ▼ 43.6% |
| Deferred charges and accrued income490/1 | - | - | €290 | - | - | €253 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €35,988 | €44,973 | €34,115 | €35,870 | €29,835 | €51,472 | €35,045 | ▼ 31.9% |
| Equity10/15 | €25,375 | €34,669 | €30,180 | €31,063 | €25,299 | €45,013 | €28,977 | ▼ 35.6% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | €6,200 | - | - | - | - | - |
| Issued capital100 | - | - | €18,600 | - | - | - | - | - |
| Uncalled capital101 | - | - | €12,400 | - | - | - | - | - |
| Contributions outside capital11 | - | - | €0 | - | - | - | - | - |
| Share premium1100/10 | - | - | €0 | - | - | - | - | - |
| Other1109/19 | - | - | €0 | - | - | - | - | - |
| Revaluation surpluses12 | - | - | €0 | - | - | - | - | - |
| Reserves13 | €19,175 | €28,469 | €28,469 | €28,469 | €28,469 | €28,469 | €22,777 | ▼ 20.0% |
| Non-distributable reserves130/1 | - | - | €0 | - | - | - | - | - |
| Legal reserve130 | - | - | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €0 | - | - | - | - | - |
| Own shares acquired1312 | - | - | €0 | - | - | - | - | - |
| Financial assistance1313 | - | - | €0 | - | - | - | - | - |
| Other1319 | - | - | €0 | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | €0 | - | - | - | - | - |
| Distributable reserves133 | - | - | €28,469 | €28,469 | €28,469 | €28,469 | €22,777 | ▼ 20.0% |
| Profit (loss) carried forward14 | - | - | -€4,489 | -€3,606 | -€9,370 | €10,344 | €0 | ▼ 100% |
| Investment grants15 | - | - | €0 | - | - | - | - | - |
| Advance to shareholders on the distribution of net assets19 | - | - | €0 | - | - | - | - | - |
| Provisions and deferred taxes16 | - | - | €0 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | €0 | - | - | - | - | - |
| Pensions and similar obligations160 | - | - | €0 | - | - | - | - | - |
| Taxes161 | - | - | €0 | - | - | - | - | - |
| Major repairs and maintenance162 | - | - | €0 | - | - | - | - | - |
| Environmental obligations163 | - | - | €0 | - | - | - | - | - |
| Other liabilities and charges164/5 | - | - | €0 | - | - | - | - | - |
| Deferred taxes168 | - | - | €0 | - | - | - | - | - |
| Amounts payable17/49 | €10,612 | €10,304 | €3,935 | €4,807 | €4,536 | €6,459 | €6,068 | ▼ 6.1% |
| Amounts payable after more than one year17 | - | - | €0 | - | - | - | - | - |
| Financial debts170/4 | - | - | €0 | - | - | - | - | - |
| Trade debts175 | - | - | €0 | - | - | - | - | - |
| Advances received on contracts in progress176 | - | - | €0 | - | - | - | - | - |
| Other amounts payable178/9 | - | - | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €10,586 | €10,304 | €3,935 | €4,807 | €4,536 | €6,459 | €6,068 | ▼ 6.1% |
| Current portion of amounts payable after more than one year42 | - | - | €0 | - | - | - | - | - |
| Financial debts43 | - | - | €0 | - | - | - | - | - |
| Credit institutions430/8 | - | - | €0 | - | - | - | - | - |
| Other loans439 | - | - | €0 | - | - | - | - | - |
| Trade debts44 | €1,122 | €1,254 | €1,145 | €1,854 | €1,490 | €391 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | €1,145 | €1,854 | €1,490 | €391 | €0 | ▼ 100% |
| Bills of exchange payable441 | - | - | €0 | - | - | - | - | - |
| Advances received on contracts in progress46 | - | - | €0 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | €0 | €163 | €163 | €3,185 | €3,185 | = |
| Taxes450/3 | - | - | €0 | €163 | €163 | €3,185 | €3,185 | = |
| Remuneration and social security454/9 | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | €2,789 | €2,789 | €2,883 | €2,883 | €2,883 | = |
| Accrued charges and deferred income492/3 | - | - | €0 | - | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,175 | €9,294 | -€4,489 | €883 | -€5,764 | €19,715 | -€16,035 | - |
| + Depreciation and write-downs630 | €7,420 | €5,827 | €4,992 | €3,388 | €3,294 | €3,975 | €5,380 | ▲ 35.3% |
| Operating cash flow (approximation) | €26,595 | €15,120 | €504 | €4,271 | -€2,470 | €23,690 | -€10,655 | - |
| Investment in fixed assets (approximation) | - | -€12,470 | €0 | €0 | €0 | -€22,978 | €0 | - |
| Change in cash | - | €3,354 | -€11,192 | €9,907 | -€9,230 | €9,470 | -€11,650 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-06-2026 | 2026-00234733 |
| 31-12-2024 | abbreviated format | 14-07-2025 | 2025-00266861 |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00328579 |
| 31-12-2022 | abbreviated format | 31-07-2023 | 2023-00312886 |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20373138 |
| 31-12-2020 | micro format | 26-10-2021 | 2021-73300488 |
| 31-12-2019 | micro format | 06-10-2020 | 2020-60600277 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
29-01
Gazette deed
Resignation: Martine Jeannine LIETAR (director)Appointment: Steven VOETS (director) · Registered-office move4 facts ▸
- General meeting, 06-01-2025
- Director resignation, Martine Jeannine LIETAR (director)
- Director appointment, Steven VOETS (director)
- Registered-office move, Bosstraat 13, 1930 Zaventem
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Register details
New in the register since 30 September 2026.
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 18 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0699.710.587
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23065B0202/00D000 | Flanders | 1,236 m² | 1 · 1,138 m² | 12.1 m · 3 |
| 23094D0314/00X004 | Flanders | 91 m² | 1 · 91 m² | 9.7 m · 3 |