KOZIEL
ActiveThe file of KOZIEL contains 4 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 9.0% (elevated). The 2025 annual accounts show equity of €457k and a net result of €-228k. Equity is growing by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 20% of 7838 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▼-42
Solvency44▼-7
Growth78=
Track record60
Bankruptcy probability, 12 months
9.0%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days only on tighter terms
Liquidity tight (current ratio 1.12 against 1.17 in 2024; short-term debt: 78.3% and cash: 0.2% of total assets), and 81% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 7838 sector peers (2025).
NBB · sector comparisonPosition among 7838 sector peers
Solvency
better than 20%
← 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 05-08-2026, 5 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
5 d late
2024
38 d early
2023
29 d late
2022
31 d late
2021
11 d late
2020
31 d late
2019
83 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-228k
2024 · €286k
2018: €-1.77Mlowest in 8 years
2019: €1.82M▲ +202% vs 2018highest in 8 years
2020: €-140k▼ -108% vs 2019
2021: €-82k▲ +41.8% vs 2020
2022: €106k▲ +229% vs 2021
2023: €27k▼ -74.7% vs 2022
2024: €286k▲ +971% vs 2023
2025: €-228k▼ -180% vs 2024
2018 → 2025
Working capital
€231k▼ 31.9%
2024 · €340k
2018: €-989klowest in 8 years
2019: €-65k▲ +93.5% vs 2018
2020: €-27k▲ +58.4% vs 2019
2021: €-77k▼ -188% vs 2020
2022: €82k▲ +206% vs 2021
2023: €87k▲ +6.2% vs 2022
2024: €340k▲ +291% vs 2023highest in 8 years
2025: €231k▼ -31.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€304k-€399k▲ 31.2%€415k▲ 4.0%€690k▲ 66.3%€457k▼ 33.8%
2021: €304klowest in 5 years
2022: €399k▲ +31.2% vs 2021
2023: €415k▲ +4.0% vs 2022
2024: €690k▲ +66.3% vs 2023highest in 5 years
2025: €457k▼ -33.8% vs 2024
Operating result€-10k-€129k€58k▼ 55.3%€354k▲ 512%€112k▼ 68.4%
2021: €-10klowest in 5 years
2022: €129k▲ +1337% vs 2021
2023: €58k▼ -55.3% vs 2022
2024: €354k▲ +512% vs 2023highest in 5 years
2025: €112k▼ -68.4% vs 2024
Net result€-82k-€106k€27k▼ 74.7%€286k▲ 971%€-228k
2021: €-82k
2022: €106k▲ +229% vs 2021
2023: €27k▼ -74.7% vs 2022
2024: €286k▲ +971% vs 2023highest in 5 years
2025: €-228k▼ -180% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 68% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.40M
Fixed assets
€291k ▼ 30.3%
Current assets
€2.11M ▼ 7.7%
Equity and liabilities €2.40M
Equity
€457k ▼ 33.8%
Debt
€1.95M ▼ 3.4%
Debt's share of the balance-sheet total rises from 74.5% to 81.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€211k▼
2024 · €454k
Cash flow
€-129k▼
2024 · €386k
Current ratio
1.12▼
2024 · 1.17
Quick ratio
1.02▼
2024 · 1.07
Debt to equity
4.26▲
2024 · 2.92
ROE
-50.0%▼
2024 · 41.4%
ROA
-9.5%▼
2024 · 10.6%
Interest coverage
3.70▼
2024 · 5.76
Debt ≤ 1 year
€1.88M▼
2024 · €1.95M
Debt > 1 year
€65k=
2024 · €65k
Income taxes
€-114▼
2024 · €134
Staff costs
€1.08M▲
2024 · €1.04M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 65 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.71M€2.40M▼
Fixed assets21/28€418k€291k▼
Intangible fixed assets21€133-
Tangible fixed assets22/27€236k€139k▼
Land and buildings22€108k€101k▼
Plant, machinery and equipment23€24k€12k▼
Furniture and vehicles24€18k€8k▼
Leasing and similar rights25€85k€18k▼
Financial fixed assets28€182k€152k▼
Current assets29/58€2.29M€2.11M▼
Amounts receivable after more than one year29€295k-
Trade receivables290€295k-
Stocks and contracts in progress3€202k€202k=
Stocks30/36€112k€112k=
Contracts in progress37€90k€90k=
Amounts receivable within one year40/41€1.75M€1.91M▲
Trade receivables40€477k€462k▼
Other amounts receivable41€1.27M€1.44M▲
Cash at bank and in hand54/58€32k€5k▼
Deferred charges and accrued income490/1€6k-
Equity and liabilities
Total equity and liabilities10/49€2.71M€2.40M▼
Equity10/15€690k€457k▼
Contributions10/11€19k€19k=
Outside capital11€19k€19k=
Other1109/19€19k€19k=
Reserves13€2.24M€2.24M=
Non-distributable reserves130/1€202k€202k=
Reserves not available under the articles1311€202k€202k=
Tax-exempt reserves132€1.81M€1.81M=
Distributable reserves133€226k€226k=
Profit (loss) carried forward14€-1.58M€-1.80M▼
Investment grants15€11k-
Amounts payable17/49€2.02M€1.95M▼
Amounts payable after more than one year17€65k€65k=
Financial debts170/4€65k€65k=
Amounts payable within one year42/48€1.95M€1.88M▼
Current portion of amounts payable after more than one year42€39k€9k▼
Financial debts43€200k€196k▼
Credit institutions430/8€200k€196k▼
Trade debts44€1.51M€1.35M▼
Suppliers440/4€1.51M€1.35M▼
Taxes, remuneration and social security45€152k€278k▲
Taxes450/3€15k€10k▼
Remuneration and social security454/9€137k€268k▲
Other amounts payable47/48€51k€50k▼
Accrued charges and deferred income492/3€2k-
Income statement
Code20242025
Non-recurring operating income76A€12k€1k▼
Remuneration, social security and pensions62€1.04M€1.08M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€100k€99k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€12k-
Other operating charges640/8€86k€74k▼
Non-recurring operating charges66A€18k€8k▼
Gross operating margin9900€1.61M€1.38M▼
Operating profit (loss)9901€354k€112k▼
Financial income75/76B€11k€12k▲
Recurring financial income75€11k€12k▲
Financial charges65/66B€79k€352k▲
Recurring financial charges65€79k€57k▼
Non-recurring financial charges66B-€295k
Profit (loss) for the period before taxes9903€286k€-228k▼
Income taxes67/77€134€-114▼
Profit (loss) for the period9904€286k€-228k▼
Profit (loss) for the period to be appropriated9905€286k€-228k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.58M€-1.80M▼
Profit (loss) brought forward from the previous period14P€-1.86M€-1.57M▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4k | €148 | €16k | €12k | €1k | ▼ 88.7% |
| Remuneration, social security and pensions62 | €992k | €1.05M | €1.05M | €1.04M | €1.08M | ▲ 4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €233k | €155k | €114k | €100k | €99k | ▼ 0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-819 | €140k | - | €12k | - | - |
| Other operating charges640/8 | €74k | €32k | €37k | €86k | €74k | ▼ 13.9% |
| Non-recurring operating charges66A | €0 | €974 | €104k | €18k | €8k | ▼ 55.8% |
| Gross operating margin9900 | €1.29M | €1.51M | €1.36M | €1.61M | €1.38M | ▼ 14.3% |
| Operating profit (loss)9901 | €-10k | €129k | €58k | €354k | €112k | ▼ 68.4% |
| Financial income75/76B | €14k | €27k | €11k | €11k | €12k | ▲ 3.0% |
| Recurring financial income75 | €14k | €27k | €11k | €11k | €12k | ▲ 3.0% |
| Financial charges65/66B | €85k | €50k | €42k | €79k | €352k | ▲ 347% |
| Recurring financial charges65 | €85k | €50k | €42k | €79k | €57k | ▼ 27.5% |
| Non-recurring financial charges66B | - | - | - | - | €295k | - |
| Profit (loss) for the period before taxes9903 | €-82k | €106k | €27k | €286k | €-228k | ▼ 180% |
| Income taxes67/77 | €120 | €33 | €116 | €134 | €-114 | ▼ 185% |
| Profit (loss) for the period9904 | €-82k | €106k | €27k | €286k | €-228k | ▼ 180% |
| Transfer to tax-exempt reserves689 | - | €550 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-82k | €105k | €27k | €286k | €-228k | ▼ 180% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.55M | €2.59M | €2.48M | €2.71M | €2.40M | ▼ 11.2% |
| Fixed assets21/28 | €669k | €572k | €431k | €418k | €291k | ▼ 30.3% |
| Intangible fixed assets21 | €2k | €1k | €666 | €133 | - | - |
| Tangible fixed assets22/27 | €509k | €404k | €325k | €236k | €139k | ▼ 40.8% |
| Land and buildings22 | €130k | €123k | €115k | €108k | €101k | ▼ 6.6% |
| Plant, machinery and equipment23 | €24k | €18k | €33k | €24k | €12k | ▼ 49.5% |
| Furniture and vehicles24 | €23k | €46k | €25k | €18k | €8k | ▼ 56.7% |
| Leasing and similar rights25 | €332k | €218k | €151k | €85k | €18k | ▼ 78.7% |
| Financial fixed assets28 | €159k | €167k | €105k | €182k | €152k | ▼ 16.6% |
| Current assets29/58 | €1.88M | €2.02M | €2.05M | €2.29M | €2.11M | ▼ 7.7% |
| Amounts receivable after more than one year29 | €295k | €295k | €295k | €295k | - | - |
| Trade receivables290 | €295k | €295k | €295k | €295k | - | - |
| Stocks and contracts in progress3 | €489k | €305k | €305k | €202k | €202k | = |
| Stocks30/36 | €489k | €305k | €305k | €112k | €112k | = |
| Contracts in progress37 | - | - | - | €90k | €90k | = |
| Amounts receivable within one year40/41 | €1.02M | €1.36M | €1.40M | €1.75M | €1.91M | ▲ 8.8% |
| Trade receivables40 | €492k | €446k | €339k | €477k | €462k | ▼ 3.3% |
| Other amounts receivable41 | €529k | €913k | €1.06M | €1.27M | €1.44M | ▲ 13.3% |
| Cash at bank and in hand54/58 | €48k | €56k | €44k | €32k | €5k | ▼ 85.7% |
| Deferred charges and accrued income490/1 | €23k | €2k | €1k | €6k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.55M | €2.59M | €2.48M | €2.71M | €2.40M | ▼ 11.2% |
| Equity10/15 | €304k | €399k | €415k | €690k | €457k | ▼ 33.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Outside capital11 | - | €19k | €19k | €19k | €19k | = |
| Other1109/19 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2.24M | €2.24M | €2.24M | €2.24M | €2.24M | = |
| Non-distributable reserves130/1 | €202k | €202k | €202k | €202k | €202k | = |
| Reserves not available under the articles1311 | €202k | €202k | €202k | €202k | €202k | = |
| Tax-exempt reserves132 | €1.81M | €1.81M | €1.81M | €1.81M | €1.81M | = |
| Distributable reserves133 | €226k | €226k | €226k | €226k | €226k | = |
| Profit (loss) carried forward14 | €-1.99M | €-1.89M | €-1.86M | €-1.58M | €-1.80M | ▼ 14.1% |
| Investment grants15 | €43k | €32k | €22k | €11k | - | - |
| Amounts payable17/49 | €2.24M | €2.19M | €2.06M | €2.02M | €1.95M | ▼ 3.4% |
| Amounts payable after more than one year17 | €286k | €189k | €103k | €65k | €65k | = |
| Financial debts170/4 | €286k | €189k | €103k | €65k | €65k | = |
| Amounts payable within one year42/48 | €1.95M | €1.93M | €1.96M | €1.95M | €1.88M | ▼ 3.4% |
| Current portion of amounts payable after more than one year42 | €180k | €102k | €87k | €39k | €9k | ▼ 77.4% |
| Financial debts43 | €200k | €200k | €200k | €200k | €196k | ▼ 2.1% |
| Credit institutions430/8 | €200k | €200k | €200k | €200k | €196k | ▼ 2.1% |
| Trade debts44 | €1.25M | €1.33M | €1.42M | €1.51M | €1.35M | ▼ 10.5% |
| Suppliers440/4 | €1.25M | €1.33M | €1.42M | €1.51M | €1.35M | ▼ 10.5% |
| Taxes, remuneration and social security45 | €326k | €304k | €222k | €152k | €278k | ▲ 83.2% |
| Taxes450/3 | €11k | €561 | €14k | €15k | €10k | ▼ 32.9% |
| Remuneration and social security454/9 | €315k | €304k | €209k | €137k | €268k | ▲ 96.3% |
| Other amounts payable47/48 | €244 | €78 | €31k | €51k | €50k | ▼ 1.8% |
| Accrued charges and deferred income492/3 | €2k | €66k | - | €2k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-82k | €106k | €27k | €286k | €-228k | ▼ 180% |
| + Depreciation and write-downs630 | €233k | €155k | €114k | €100k | €99k | ▼ 0.7% |
| Operating cash flow (approximation) | €151k | €261k | €140k | €386k | €-129k | ▼ 133% |
| Investment in fixed assets (approximation) | - | €-58k | €28k | €-87k | €27k | ▲ 131% |
| Change in cash | - | €8k | €-12k | €-11k | €-28k | ▼ 151% |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 5 days late
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €500kEq €690k ▲66.3%
3 profitable years in a row build equity to €690k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Back to profitnet €106k
Net result €106k after 2 loss-making years.
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 11 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 83 days late
2019
31-12
Financial
Back to profitnet €1.82M
Net result €1.82M after one loss-making year.
31-12
Financial
Equity above €500kEq €527k
Equity rises from €-1.28M to €527k.
23-12
Judicial reorganisation
Plan homologation
Tribunal de l’entreprise de Liège · event 17-12-2019
Show earlier events
20-09
Judicial reorganisation
Extension
Tribunal de l’entreprise de Liège · collective agreement · event 17-09-2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
25-06
Judicial reorganisation
Extension
Tribunal de l’entreprise de Liège · collective agreement · event 18-06-2019
2018
24-12
Judicial reorganisation
Opening
Tribunal de l’entreprise de Liège · collective agreement · event 18-12-2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Visé · 1 establishment unit since 2000
Ground area
87 m²
Building footprint
49 m²
Volume, LiDAR
479 m³
Parcel 62108C0774/00Z000, Wallonia · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Rue de Jupille 47, 4600 Visé
since 20002.098.560.653
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62108C0774/00Z000 | Wallonia | 87 m² | 1 · 49 m² | 10.7 m · 3 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 8,454 companies in sector 43120 we hold annual accounts for 3,231. 2,236 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
Founded12-04-2000
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
Scores and ratios are computed by Checked and are not a credit decision.