KASO CONCEPT
ActiveSummary
The computed 12-month bankruptcy probability of KASO CONCEPT is 2.1% (moderate). The 2025 annual accounts show equity of €173k and a net result of €-161k. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 26% of 27965 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-37
Solvency50▼-10
Growth52=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days only on tighter terms
Liquidity ample (current ratio 1.72 against 1.93 in 2024; short-term debt: 57.4% and cash: 0% of total assets), but 75.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk
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 →
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
24.7%
Return on assets
-23%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
192021222425
2019 to 2025 · latest year €-161k
raises risk · Filed more than 90 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 03-06-2026, 123 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 9 filingsDeviation from the deadline
2025
123 d late
2024
3 d late
2022
373 d late
2021
16 d late
2020
44 d late
2019
12 d late
2018
39 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
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 Hiring this company for building work? Recognition, activities and what to check first.Contractor check Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2025, micro schema
Equity
€173k▼ 48.2%
2024 · €335k
Total assets
€703k▼ 26.0%
2024 · €949k
Net result
€-161k▼ 1,433%
2024 · €-11k
Working capital
€290k▼ 35.9%
2024 · €453k
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
Line20202021202220242025
Operating result€12k▼ 80.8%€236k▲ 1,872%€81k▼ 65.6%€-5k-€-161k▼ 3,446%
Net result€4k▼ 90.8%€169k▲ 3,895%€64k▼ 62.2%€-11k-€-161k▼ 1,433%
Equity€106k▲ 4.2%€275k▲ 159%€339k▲ 23.2%€335k-€173k▼ 48.2%
Total assets€556k▲ 58.5%€851k▲ 52.9%€848k▼ 0.3%€949k-€703k▼ 26.0%
Debt€450k▲ 80.7%€575k▲ 27.8%€509k▼ 11.5%€615k-€530k▼ 13.8%
Working capital€213k▲ 202%€390k▲ 83.6%€456k▲ 16.8%€453k-€290k▼ 35.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €161k in 2025 against €5k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €703k
Fixed assets
€9k ▲ 9.7%
Current assets
€694k ▼ 26.3%
Equity and liabilities €703k
Equity
€173k ▼ 48.2%
Debt
€530k ▼ 13.8%
Debt's share of the balance-sheet total rises from 64.7% to 75.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-153k▼
2024 · €1k
Cash flow
€-153k▼
2024 · €-5k
Current ratio
1.72▼
2024 · 1.93
Debt to equity
3.05▲
2024 · 1.83
ROE
-93.1%▼
2024 · -3.1%
ROA
-23.0%▼
2024 · -1.1%
Interest coverage
-364.30▼
2024 · 2.36
Debt ≤ 1 year
€403k▼
2024 · €488k
Debt > 1 year
€100k=
2024 · €100k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €2k | €4k | €6k | €8k | ▲ 37.0% |
| Other operating charges640/8 | - | - | €2k | €424 | €1k | ▲ 233% |
| Non-recurring operating charges66A | - | - | €238 | - | - | - |
| Gross operating margin9900 | €53k | €248k | €88k | €2k | €-152k | ▼ 8,742% |
| Operating profit (loss)9901 | €12k | €236k | €81k | €-5k | €-161k | ▼ 3,446% |
| Financial income75/76B | - | - | €13k | - | - | - |
| Recurring financial income75 | €15k | €19k | €13k | - | - | - |
| Financial charges65/66B | - | - | €3k | €563 | €420 | ▼ 25.4% |
| Recurring financial charges65 | €10k | €20k | €3k | €563 | €420 | ▼ 25.4% |
| Profit (loss) for the period before taxes9903 | €17k | €235k | €92k | €-5k | €-161k | ▼ 3,064% |
| Income taxes67/77 | €13k | €66k | €28k | €5k | - | - |
| Profit (loss) for the period9904 | €4k | €169k | €64k | €-11k | €-161k | ▼ 1,433% |
| Profit (loss) for the period to be appropriated9905 | €4k | €169k | €64k | €-11k | €-161k | ▼ 1,433% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €556k | €851k | €848k | €949k | €703k | ▼ 26.0% |
| Fixed assets21/28 | €5k | €11k | €10k | €9k | €9k | ▲ 9.7% |
| Tangible fixed assets22/27 | €5k | €11k | €10k | €8k | €9k | ▲ 10.0% |
| Plant, machinery and equipment23 | - | - | €3k | €5k | €2k | ▼ 50.5% |
| Furniture and vehicles24 | - | - | €7k | €4k | €7k | ▲ 87.2% |
| Financial fixed assets28 | €300 | €300 | €300 | €300 | €300 | = |
| Current assets29/58 | €551k | €839k | €838k | €941k | €694k | ▼ 26.3% |
| Amounts receivable after more than one year29 | - | - | €490k | €490k | €490k | = |
| Other amounts receivable291 | - | - | €490k | €490k | €490k | = |
| Stocks and contracts in progress3 | €189k | €189k | €189k | - | - | - |
| Stocks30/36 | - | - | €189k | - | - | - |
| Amounts receivable within one year40/41 | €313k | €371k | €138k | €430k | €183k | ▼ 57.5% |
| Trade receivables40 | - | - | €73k | €209k | €137k | ▼ 34.6% |
| Other amounts receivable41 | - | - | €65k | €221k | €46k | ▼ 79.2% |
| Cash at bank and in hand54/58 | €45k | €908 | €313 | €41 | €30 | ▼ 28.7% |
| Deferred charges and accrued income490/1 | - | - | €21k | €21k | €21k | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €556k | €851k | €848k | €949k | €703k | ▼ 26.0% |
| Equity10/15 | €106k | €275k | €339k | €335k | €173k | ▼ 48.2% |
| Contributions10/11 | €0 | - | €19k | €19k | €19k | = |
| Reserves13 | €87k | €256k | €256k | €256k | €256k | = |
| Non-distributable reserves130/1 | - | - | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | - | €2k | €2k | €2k | = |
| Distributable reserves133 | - | - | €254k | €254k | €254k | = |
| Profit (loss) carried forward14 | €670 | €788 | €65k | €60k | €-101k | ▼ 267% |
| Amounts payable17/49 | €450k | €575k | €509k | €615k | €530k | ▼ 13.8% |
| Amounts payable after more than one year17 | €103k | €100k | €100k | €100k | €100k | = |
| Financial debts170/4 | - | - | €100k | €100k | €100k | = |
| Amounts payable within one year42/48 | €339k | €449k | €383k | €488k | €403k | ▼ 17.4% |
| Current portion of amounts payable after more than one year42 | - | - | €40k | - | - | - |
| Financial debts43 | - | - | €4k | - | - | - |
| Credit institutions430/8 | - | - | €4k | - | - | - |
| Trade debts44 | €23k | €91k | €42k | €199k | €148k | ▼ 25.8% |
| Suppliers440/4 | - | - | €42k | €199k | €148k | ▼ 25.8% |
| Advances received on contracts in progress46 | - | - | €212k | €243k | €243k | = |
| Taxes, remuneration and social security45 | - | - | €84k | €46k | €12k | ▼ 73.6% |
| Taxes450/3 | - | - | €84k | €46k | €12k | ▼ 73.6% |
| Accrued charges and deferred income492/3 | - | - | €26k | €26k | €26k | = |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €169k | €64k | €-11k | €-161k | ▼ 1,433% |
| + Depreciation and write-downs630 | €7k | €2k | €4k | €6k | €8k | ▲ 37.0% |
| Operating cash flow (approximation) | €11k | €171k | €68k | €-5k | €-153k | ▼ 3,190% |
| Investment in fixed assets (approximation) | - | €-9k | €-2k | - | €-9k | - |
| Change in cash | - | €-44k | €-595 | - | €-12 | - |
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
19-08
State Gazette act
Capital & sharesShare transfer · Approval · Power of attorney5 facts ▸
State Gazette act
Capital & shares
Share transfer · Approval · Power of attorney5 facts ▸
- General meeting, 30-04-2025
- Share transfer, Gerin Julien → Freddy Foess
- Approval, 30-04-2025
- Power of attorney, Freddy Foess
- Share distribution, 100
03-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 123 days late
2025
30-06
Financial
Weakest financial yearnet €-161k
Net result drops to €-161k, the lowest in the series.
03-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 3 days late
2024
08-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 373 days late
2022
16-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
2021
30-06
Financial
Highest result since 2019net €169k ▲3,895%
Operating result €236k, net result €169k, both a record.
30-06
Financial
Equity above €200kEq €275k ▲159%
3 profitable years in a row build equity to €275k.
16-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 44 days late
2020
12-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 12 days late
2019
11-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 39 days late
2018
20-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
25-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts 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.
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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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Anderlecht · 1 establishment unit since 2015
Ground area
797 m²
Building footprint
333 m²
Volume, LiDAR
15,939 m³
Parcel 21308H0298/00G000, Brussels · tallest building 52.2 m, ±16 floors. Linked by address, not a title deed.
143
companies at this address
See who is registered here
1 establishment unit
KASO CONCEPT
since 20152.246.010.749
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21308H0298/00G000 | Brussels | 797 m² | 1 · 333 m² | 52.2 m · 16 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.
Structure & network
Connections & network
No current directors or connected companies found in the register.
Capital and shareholders
Shareholders according to the acts
Share transfer
act of 19-08-2026 ↗
- Gerin Julien to Freddy Foess 10 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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Of 4,094 companies in sector 43240 we hold annual accounts for 1,634. 1,321 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
Founded04-08-2015
Fiscal year end30-06
Activities, NACEBEL 2025
43240Other construction installation
43230Insulation installation
43350Other building finishing work
68110Buying and selling of own real estate
81220Other building cleaning and industrial cleaning
Contact
E-mail
freddy.foess@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.