Keysers Constructions
ActiveSummary
Keysers Constructions has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€98,746) and a net result of €5,719. Equity is shrinking by ~15.2% per year across the filed fiscal years. Its solvency ranks better than 5% of 1913 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.11 in 2024; short-term debt: 144.9% and cash: 16.8% of total assets), and equity is negative.
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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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% 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
-76.2%
Return on assets
4.4%
Age of the figures
12 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 1913 sector peers (2025).
NBB · sector comparisonPosition among 1913 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 07-04-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
8 d early
2023
5 d early
2022
27 d early
2021
30 d early
2020
28 d early
2019
31 d early
← 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 22 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€98,746▲ 5.5%
2024 · -€104,466
Total assets
€129,522▼ 16.3%
2024 · €154,707
Net result
€5,719▼ 17.0%
2024 · €6,891
Working capital
-€162,881▲ 7.3%
2024 · -€175,694
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
Line20212022202320242025
Operating result-€155,498€37,647€17,268▼ 54.1%€8,592▼ 50.2%€7,928▼ 7.7%
Net result-€165,370€34,498€15,144▼ 56.1%€6,891▼ 54.5%€5,719▼ 17.0%
Equity-€160,999-€126,501▲ 21.4%-€111,357▲ 12.0%-€104,466▲ 6.2%-€98,746▲ 5.5%
Total assets€219,487▼ 66.7%€223,088▲ 1.6%€190,229▼ 14.7%€154,707▼ 18.7%€129,522▼ 16.3%
Debt€380,485▼ 41.8%€349,589▼ 8.1%€301,586▼ 13.7%€259,173▼ 14.1%€228,268▼ 11.9%
Working capital-€186,190▲ 13.9%-€210,037▼ 12.8%-€187,412▲ 10.8%-€175,694▲ 6.3%-€162,881▲ 7.3%
Staff (FTE)
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2021 Total assets -67% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €129,522
Fixed assets
€104,768 ▼ 21.4%
Current assets
€24,754 ▲ 15.5%
Key figures and ratios
EBITDA
€37,762▼
2024 · €37,866
Cash flow
€35,553▼
2024 · €36,166
Solvency
-76.2%▼
2024 · -67.5%
Current ratio
0.13▲
2024 · 0.11
Debt to equity
-2.31▲
2024 · -2.48
ROA
4.4%▼
2024 · 4.5%
Interest coverage
16.95▼
2024 · 20.20
Debt ≤ 1 year
€187,635▼
2024 · €197,121
Debt > 1 year
€39,633▼
2024 · €62,052
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,381 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.1%
stopped otherwise
94%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 1,381 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,950 | €28,781 | €29,802 | €29,274 | €29,834 | ▲ 1.9% |
| Other operating charges640/8 | - | €2,707 | €3,311 | €3,659 | €3,763 | ▲ 2.8% |
| Gross operating margin9900 | €67,806 | €69,134 | €50,382 | €41,525 | €41,525 | = |
| Operating profit (loss)9901 | -€155,498 | €37,647 | €17,268 | €8,592 | €7,928 | ▼ 7.7% |
| Financial income75/76B | - | €0 | €0 | €174 | €19 | ▼ 89.4% |
| Recurring financial income75 | €50 | €0 | €0 | €174 | €19 | ▼ 89.4% |
| Financial charges65/66B | - | €3,149 | €2,124 | €1,874 | €2,228 | ▲ 18.9% |
| Recurring financial charges65 | €9,922 | €3,149 | €2,124 | €1,874 | €2,228 | ▲ 18.9% |
| Profit (loss) for the period before taxes9903 | -€165,370 | €34,498 | €15,144 | €6,891 | €5,719 | ▼ 17.0% |
| Profit (loss) for the period9904 | -€165,370 | €34,498 | €15,144 | €6,891 | €5,719 | ▼ 17.0% |
| Profit (loss) for the period to be appropriated9905 | -€165,370 | €34,498 | €15,144 | €6,891 | €5,719 | ▼ 17.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €219,487 | €223,088 | €190,229 | €154,707 | €129,522 | ▼ 16.3% |
| Fixed assets21/28 | €172,679 | €190,887 | €161,014 | €133,280 | €104,768 | ▼ 21.4% |
| Tangible fixed assets22/27 | €172,597 | €190,816 | €161,014 | €133,280 | €104,768 | ▼ 21.4% |
| Land and buildings22 | - | €148,400 | €128,600 | €108,800 | €89,000 | ▼ 18.2% |
| Plant, machinery and equipment23 | - | €42,416 | €32,414 | €24,480 | €15,768 | ▼ 35.6% |
| Financial fixed assets28 | €82 | €71 | €0 | - | - | - |
| Current assets29/58 | €46,808 | €32,201 | €29,216 | €21,428 | €24,754 | ▲ 15.5% |
| Stocks and contracts in progress3 | - | - | €2,415 | €0 | - | - |
| Contracts in progress37 | - | - | €2,415 | €0 | - | - |
| Amounts receivable within one year40/41 | €46,808 | €13,207 | €10,190 | €6,055 | €2,246 | ▼ 62.9% |
| Trade receivables40 | - | €13,207 | €10,190 | €6,055 | €2,246 | ▼ 62.9% |
| Cash at bank and in hand54/58 | - | €18,994 | €16,611 | €15,373 | €21,713 | ▲ 41.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €795 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €219,487 | €223,088 | €190,229 | €154,707 | €129,522 | ▼ 16.3% |
| Equity10/15 | -€160,999 | -€126,501 | -€111,357 | -€104,466 | -€98,746 | ▲ 5.5% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €8,425 | €8,425 | €8,425 | €8,425 | €8,425 | = |
| Non-distributable reserves130/1 | - | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €2,000 | €0 | - | - | - |
| Distributable reserves133 | - | €6,425 | €8,425 | €8,425 | €8,425 | = |
| Profit (loss) carried forward14 | -€189,424 | -€154,926 | -€139,782 | -€132,891 | -€127,172 | ▲ 4.3% |
| Amounts payable17/49 | €380,485 | €349,589 | €301,586 | €259,173 | €228,268 | ▼ 11.9% |
| Amounts payable after more than one year17 | €147,488 | €107,351 | €84,833 | €62,052 | €39,633 | ▼ 36.1% |
| Financial debts170/4 | - | €107,351 | €84,833 | €62,052 | €39,633 | ▼ 36.1% |
| Amounts payable within one year42/48 | €232,997 | €242,238 | €216,628 | €197,121 | €187,635 | ▼ 4.8% |
| Current portion of amounts payable after more than one year42 | - | €22,262 | €22,518 | €22,782 | €22,670 | ▼ 0.5% |
| Trade debts44 | €3,947 | €2,182 | €550 | €1,188 | €490 | ▼ 58.7% |
| Suppliers440/4 | - | €2,182 | €550 | €1,188 | €490 | ▼ 58.7% |
| Taxes, remuneration and social security45 | - | €2,604 | €2,010 | €1,501 | €1,483 | ▼ 1.2% |
| Taxes450/3 | - | €2,604 | €2,010 | €1,501 | €1,483 | ▼ 1.2% |
| Other amounts payable47/48 | - | €215,190 | €191,551 | €171,651 | €162,992 | ▼ 5.0% |
| Accrued charges and deferred income492/3 | - | - | €125 | €0 | €1,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€165,370 | €34,498 | €15,144 | €6,891 | €5,719 | ▼ 17.0% |
| + Depreciation and write-downs630 | €23,950 | €28,781 | €29,802 | €29,274 | €29,834 | ▲ 1.9% |
| Operating cash flow (approximation) | -€141,420 | €63,278 | €44,946 | €36,166 | €35,553 | ▼ 1.7% |
| Investment in fixed assets (approximation) | - | -€46,989 | €71 | -€1,540 | -€1,322 | ▲ 14.1% |
| Change in cash | - | - | -€2,382 | -€1,239 | €6,340 | ▲ 612% |
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
07-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
22-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Back to profitnet €34,498
Net result €34,498 after one loss-making year.
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Weakest financial yearnet -€165,370
Net result drops to -€165,370, the lowest in the series; recovery starts the following year.
02-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
03-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Brecht · 1 establishment unit since 2010
Ground area
904 m²
Building footprint
579 m²
Volume, LiDAR
1,030 m³
Parcel 11333C0607/00N002, Flanders · tallest building 17.1 m. Linked by address, not a title deed.
1 establishment unit
Molenstraat 109Z, 2960 Brecht
since 20102.185.362.884
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11333C0607/00N002 | Flanders | 904 m² | 1 · 579 m² | 17.1 m |
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.
Recognitions · licences · registrations
Dual-learning approval
1 endedHoeknaadlasser (so)
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Of 980 companies in sector 25401 we hold annual accounts for 407. 100 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
Founded04-02-2010
Fiscal year end30-09
Activities, NACEBEL 2025
25401Forging of metal
25110Manufacture of metal structures and parts of structures
25510Coating of metals
25530Machining of metals
E-invoicing
Reachable via Peppol
Peppol ID
0208:0822889602
Also
9925:BE0822889602
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.