K.V.E. systems
ActiveSummary
K.V.E. systems has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €59,425 and a net result of €26,361. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+25
Solvency42▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity short (current ratio 0.76 against 0.71 in 2024; short-term debt: 78.2% and cash: 9.1% of total assets), and 82.7% of the assets are financed with debt.
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Signals
Five 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 2025Solvency, return and age of the figures
Solvency
17.3%
Return on assets
7.7%
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 20% of 28184 sector peers (2025).
NBB · sector comparisonPosition among 28184 sector peers
Solvency
better than 20%
← weakest
strongest →
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
13 d early
2023
5 d early
2022
33 d early
2021
26 d late
2020
31 d late
2019
52 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 5 days after 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.
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
In the rankings
#10 oldest company in Bertem, Construction sector
Equity
€59,425▲ 79.7%
2024 · €33,064
Total assets
€342,847▲ 58.6%
2024 · €216,186
Net result
€26,361
2024 · -€27,495
Working capital
-€63,042▼ 22.0%
2024 · -€51,677
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
Line20212022202320242025
Operating result€23,244▼ 23.1%€38,397▲ 65.2%€20,050▼ 47.8%-€27,189€29,939
Net result€14,125within the sector's middle half▼ 33.0%€22,535within the sector's middle half▲ 59.5%€15,204within the sector's middle half▼ 32.5%-€27,495below the sector's middle half€26,361within the sector's middle half
Equity€22,820within the sector's middle half▲ 162%€45,355within the sector's middle half▲ 98.8%€60,559within the sector's middle half▲ 33.5%€33,064within the sector's middle half▼ 45.4%€59,425within the sector's middle half▲ 79.7%
Total assets€220,409within the sector's middle half▲ 43.9%€228,573within the sector's middle half▲ 3.7%€178,831within the sector's middle half▼ 21.8%€216,186within the sector's middle half▲ 20.9%€342,847above the sector's middle half▲ 58.6%
Debt€192,796▲ 38.0%€178,425▼ 7.5%€113,479▼ 36.4%€178,329▲ 57.1%€278,628▲ 56.2%
Working capital-€84,172▼ 515%-€43,979▲ 47.8%-€19,412▲ 55.9%-€51,677▼ 166%-€63,042▼ 22.0%
Solvency10.4%below the sector's middle half▲ 4.7pp19.8%below the sector's middle half▲ 9.5pp33.9%within the sector's middle half▲ 14.0pp15.3%below the sector's middle half▼ 18.6pp17.3%below the sector's middle half▲ 2.0pp
Staff (FTE)3=2.8▼ 6.7%3.2▲ 14.3%3.1▼ 3.1%
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €29,939 after a loss of €27,189 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €342,847
Fixed assets
€137,906 ▲ 54.0%
Current assets
€204,940 ▲ 61.8%
Equity and liabilities €342,847
Equity
€59,425 ▲ 79.7%
Provisions
€4,793 =
Debt
€278,628 ▲ 56.2%
Debt's share of the balance-sheet total falls from 82.5% to 81.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€85,146▲
2024 · €11,314
Cash flow
€81,569▲
2024 · €11,009
Current ratio
0.76▲
2024 · 0.71
Quick ratio
0.71▲
2024 · 0.63
Debt to equity
4.69▼
2024 · 5.39
ROE
44.4%▲
2024 · -83.2%
ROA
7.7%▲
2024 · -12.7%
Interest coverage
167.73▲
2024 · 49.45
Debt ≤ 1 year
€267,982▲
2024 · €178,329
Income taxes
€3,137▲
2024 · €160
Staff costs
€238,826▲
2024 · €206,312
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,811 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
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 3,811 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 | €1,327 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €106,330 | €155,926 | €190,291 | €206,312 | €238,826 | ▲ 15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57,816 | €31,429 | €32,870 | €38,503 | €55,207 | ▲ 43.4% |
| Other operating charges640/8 | €6,518 | €6,282 | €7,279 | €672 | €13,615 | ▲ 1,927% |
| Non-recurring operating charges66A | - | €5,972 | €0 | - | - | - |
| Gross operating margin9900 | €193,908 | €238,005 | €250,490 | €218,298 | €337,586 | ▲ 54.6% |
| Operating profit (loss)9901 | €23,244 | €38,397 | €20,050 | -€27,189 | €29,939 | ▲ 210% |
| Financial income75/76B | €78 | €3,051 | €4,725 | €84 | €68 | ▼ 18.9% |
| Recurring financial income75 | €78 | €3,051 | €4,725 | €84 | €68 | ▼ 18.9% |
| Financial charges65/66B | €7,048 | €6,500 | €411 | €229 | €508 | ▲ 122% |
| Recurring financial charges65 | €7,048 | €6,500 | €411 | €229 | €508 | ▲ 122% |
| Profit (loss) for the period before taxes9903 | €16,275 | €34,948 | €24,364 | -€27,335 | €29,499 | ▲ 208% |
| Income taxes67/77 | €2,149 | €12,413 | €9,161 | €160 | €3,137 | ▲ 1,861% |
| Profit (loss) for the period9904 | €14,125 | €22,535 | €15,204 | -€27,495 | €26,361 | ▲ 196% |
| Profit (loss) for the period to be appropriated9905 | €14,125 | €22,535 | €15,204 | -€27,495 | €26,361 | ▲ 196% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €220,409 | €228,573 | €178,831 | €216,186 | €342,847 | ▲ 58.6% |
| Fixed assets21/28 | €133,256 | €100,363 | €84,771 | €89,534 | €137,906 | ▲ 54.0% |
| Tangible fixed assets22/27 | €133,256 | €100,363 | €84,771 | €89,534 | €137,906 | ▲ 54.0% |
| Land and buildings22 | €5,972 | - | - | - | - | - |
| Plant, machinery and equipment23 | €15,301 | €11,898 | €23,533 | €55,523 | €54,675 | ▼ 1.5% |
| Furniture and vehicles24 | €111,984 | €88,466 | €61,238 | €34,010 | €83,231 | ▲ 145% |
| Current assets29/58 | €87,152 | €128,209 | €94,060 | €126,653 | €204,940 | ▲ 61.8% |
| Stocks and contracts in progress3 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Stocks30/36 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Amounts receivable within one year40/41 | €60,797 | €91,484 | €51,497 | €102,389 | €156,990 | ▲ 53.3% |
| Trade receivables40 | €48,218 | €84,835 | €31,665 | €69,807 | €138,963 | ▲ 99.1% |
| Other amounts receivable41 | €12,579 | €6,649 | €19,832 | €32,582 | €18,027 | ▼ 44.7% |
| Cash at bank and in hand54/58 | €1,295 | €13,220 | €17,798 | €6,689 | €31,368 | ▲ 369% |
| Deferred charges and accrued income490/1 | €10,060 | €8,506 | €9,764 | €2,575 | €1,582 | ▼ 38.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €220,409 | €228,573 | €178,831 | €216,186 | €342,847 | ▲ 58.6% |
| Equity10/15 | €22,820 | €45,355 | €60,559 | €33,064 | €59,425 | ▲ 79.7% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €8,776 | €25,355 | €40,559 | €31,782 | €39,425 | ▲ 24.0% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €0 | - | - | - |
| Distributable reserves133 | €6,776 | €23,355 | €40,559 | €31,782 | €39,425 | ▲ 24.0% |
| Profit (loss) carried forward14 | -€5,957 | - | - | -€18,718 | €0 | ▲ 100% |
| Provisions and deferred taxes16 | €4,793 | €4,793 | €4,793 | €4,793 | €4,793 | = |
| Provisions for liabilities and charges160/5 | €4,793 | €4,793 | €4,793 | €4,793 | €4,793 | = |
| Environmental obligations163 | €4,793 | €4,793 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | €4,793 | €4,793 | €4,793 | = |
| Amounts payable17/49 | €192,796 | €178,425 | €113,479 | €178,329 | €278,628 | ▲ 56.2% |
| Amounts payable after more than one year17 | €18,184 | - | - | - | - | - |
| Financial debts170/4 | €18,184 | - | - | - | - | - |
| Amounts payable within one year42/48 | €171,324 | €172,188 | €113,472 | €178,329 | €267,982 | ▲ 50.3% |
| Current portion of amounts payable after more than one year42 | €26,215 | €17,365 | €0 | - | - | - |
| Financial debts43 | €84,609 | - | - | - | - | - |
| Credit institutions430/8 | €84,609 | - | - | - | - | - |
| Trade debts44 | €21,887 | €6,509 | €579 | €45,285 | €4,274 | ▼ 90.6% |
| Suppliers440/4 | €21,887 | €6,509 | €579 | €45,285 | €4,274 | ▼ 90.6% |
| Taxes, remuneration and social security45 | €7,446 | €34,019 | €6,536 | €6,594 | €33,259 | ▲ 404% |
| Taxes450/3 | €2,359 | €15,887 | €579 | €686 | €6,873 | ▲ 901% |
| Remuneration and social security454/9 | €5,087 | €18,132 | €5,958 | €5,907 | €26,385 | ▲ 347% |
| Other amounts payable47/48 | €31,167 | €114,295 | €106,356 | €126,451 | €230,450 | ▲ 82.2% |
| Accrued charges and deferred income492/3 | €3,288 | €6,237 | €8 | €0 | €10,646 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,125 | €22,535 | €15,204 | -€27,495 | €26,361 | ▲ 196% |
| + Depreciation and write-downs630 | €57,816 | €31,429 | €32,870 | €38,503 | €55,207 | ▲ 43.4% |
| Operating cash flow (approximation) | €71,941 | €53,965 | €48,074 | €11,009 | €81,569 | ▲ 641% |
| Investment in fixed assets (approximation) | - | €1,463 | -€17,277 | -€43,267 | -€103,580 | ▼ 139% |
| Change in cash | - | €11,924 | €4,579 | -€11,110 | €24,679 | ▲ 322% |
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
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €26,361
Net result €26,361 after one loss-making year.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €21,090
Net result €21,090 after 2 loss-making years.
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 52 days late
2019
31-12
Financial
Weakest financial yearnet -€27,690
Net result drops to -€27,690, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 53 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Bertem · 1 establishment unit since 2004
Ground area
1,131 m²
Building footprint
195 m²
Volume, LiDAR
1,110 m³
Parcel 24061B0295/00B000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
K.V.E.systems
since 20042.135.121.834
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24061B0295/00B000 | Flanders | 1,131 m² | 1 · 195 m² | 9.0 m · 2 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.
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. 4,682 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
Founded02-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
25110Manufacture of metal structures and parts of structures
25210Manufacture of fabricated metal products, except machinery and equipment
27402Manufacture of electrical equipment
43211General electrical installation work
43240Other construction installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0863137375
Also
9925:BE0863137375
Registered
19-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.