KUB
ActiveSummary
The annual accounts of KUB for fiscal year 2025 show a net loss of 97% of the equity at the start of that year. The 2025 annual accounts show equity of €20,286 and a net result of -€677,267. Equity is shrinking by ~31% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 17% of 9294 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability7▼-24
Solvency25▼-9
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 21.96 against 5.37 in 2024; short-term debt: 4.4% and cash: 0.4% of total assets), but 99.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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 17% of 9294 sector peers (2025).
NBB · sector comparisonPosition among 9294 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
9 d early
2023
92 d early
2022
11 d early
2021
9 d early
2020
5 d early
2019
8 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 16 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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, abbreviated schema
Equity
€20,286▼ 97.1%
2024 · €697,553
Total assets
€7.1m▼ 10.1%
2024 · €7.9m
Net result
-€677,267
2024 · €128,934
Working capital
€6.5m▲ 4.7%
2024 · €6.2m
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-€726,811▼ 256%-€478,152▲ 34.2%€492,945€260,640▼ 47.1%-€556,306
Net result-€797,333▼ 203%-€103,063▲ 87.1%€498,453€128,934▼ 74.1%-€677,267
Equity€173,229▼ 82.2%€70,166▼ 59.5%€568,619▲ 710%€697,553▲ 22.7%€20,286▼ 97.1%
Total assets€6.5m▲ 73.2%€11.1m▲ 69.3%€8.8m▼ 20.6%€7.9m▼ 10.0%€7.1m▼ 10.1%
Debt€6.4m▲ 127%€11.0m▲ 72.8%€8.2m▼ 25.2%€7.2m▼ 12.3%€7.1m▼ 1.7%
Working capital€5.9m▲ 111%€9.8m▲ 65.2%€7.5m▼ 23.4%€6.2m▼ 17.4%€6.5m▲ 4.7%
Staff (FTE)2.1▼ 12.5%2.1=2.8▲ 33.3%2▼ 28.6%1.8▼ 10.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €556,306 after €260,640 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.1m
Fixed assets
€281,390 ▲ 7.0%
Current assets
€6.8m ▼ 10.7%
Equity and liabilities €7.1m
Equity
€20,286 ▼ 97.1%
Debt
€7.1m ▼ 1.7%
Debt's share of the balance-sheet total rises from 91.2% to 99.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€506,510▼
2024 · €312,270
Cash flow
-€627,471▼
2024 · €180,564
Current ratio
21.96▲
2024 · 5.37
Quick ratio
5.19▲
2024 · 1.55
ROA
-9.5%▼
2024 · 1.6%
Interest coverage
-3.21▼
2024 · 1.25
Debt ≤ 1 year
€310,642▼
2024 · €1.4m
Debt > 1 year
€5.7m▲
2024 · €3.3m
Income taxes
€374▼
2024 · €15,374
Staff costs
€99,232▲
2024 · €85,977
A ratio outside any meaningful range has been withheld (balance sheet total €7.1m, equity €20,286).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,038 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a small loss
2.9%
went bankrupt
2.7%
stopped otherwise
94%
still going
A further 0.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% 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 497,058 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 1,038 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €99,550 | €139,730 | €120,692 | €85,977 | €99,232 | ▲ 15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,912 | €28,995 | €37,067 | €51,630 | €49,796 | ▼ 3.6% |
| Other operating charges640/8 | €10,809 | €54,062 | €42,892 | €71,828 | €16,836 | ▼ 76.6% |
| Non-recurring operating charges66A | - | - | - | - | €29,678 | - |
| Gross operating margin9900 | -€590,540 | -€255,364 | €693,595 | €470,075 | -€360,763 | ▼ 177% |
| Operating profit (loss)9901 | -€726,811 | -€478,152 | €492,945 | €260,640 | -€556,306 | ▼ 313% |
| Financial income75/76B | €54,719 | €569,869 | €329,048 | €132,611 | €37,080 | ▼ 72.0% |
| Recurring financial income75 | €54,719 | €569,869 | €329,048 | €132,611 | €36,460 | ▼ 72.5% |
| Non-recurring financial income76B | - | - | - | - | €620 | - |
| Financial charges65/66B | €125,242 | €194,780 | €264,341 | €248,944 | €157,668 | ▼ 36.7% |
| Recurring financial charges65 | €125,242 | €194,780 | €264,341 | €248,944 | €157,668 | ▼ 36.7% |
| Profit (loss) for the period before taxes9903 | -€797,333 | -€103,063 | €557,652 | €144,308 | -€676,893 | ▼ 569% |
| Income taxes67/77 | - | - | €59,199 | €15,374 | €374 | ▼ 97.6% |
| Profit (loss) for the period9904 | -€797,333 | -€103,063 | €498,453 | €128,934 | -€677,267 | ▼ 625% |
| Transfer from tax-exempt reserves789 | €376,199 | €2,884 | €249,227 | €64,467 | - | - |
| Transfer to tax-exempt reserves689 | - | - | €249,227 | €64,467 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€421,134 | -€100,179 | €498,453 | €128,934 | -€677,267 | ▼ 625% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.5m | €11.1m | €8.8m | €7.9m | €7.1m | ▼ 10.1% |
| Fixed assets21/28 | €258,312 | €431,597 | €438,543 | €262,989 | €281,390 | ▲ 7.0% |
| Tangible fixed assets22/27 | €223,112 | €210,107 | €231,743 | €200,239 | €218,640 | ▲ 9.2% |
| Land and buildings22 | €181,926 | €168,872 | €155,818 | €142,764 | €129,710 | ▼ 9.1% |
| Plant, machinery and equipment23 | €39,213 | €28,708 | €28,286 | €14,224 | €13,785 | ▼ 3.1% |
| Furniture and vehicles24 | €1,973 | €12,527 | €47,639 | €43,251 | €19,197 | ▼ 55.6% |
| Leasing and similar rights25 | - | - | - | - | €55,948 | - |
| Financial fixed assets28 | €35,200 | €221,490 | €206,800 | €62,750 | €62,750 | = |
| Current assets29/58 | €6.3m | €10.6m | €8.3m | €7.6m | €6.8m | ▼ 10.7% |
| Stocks and contracts in progress3 | €3.6m | €7.6m | €6.4m | €5.4m | €5.2m | ▼ 4.2% |
| Stocks30/36 | €3.6m | €7.6m | €6.4m | €5.4m | €5.2m | ▼ 4.2% |
| Amounts receivable within one year40/41 | €1.9m | €2.2m | €1.8m | €2.1m | €1.6m | ▼ 24.6% |
| Trade receivables40 | €179,111 | €413,616 | €153,153 | €384,251 | €93,263 | ▼ 75.7% |
| Other amounts receivable41 | €1.7m | €1.8m | €1.6m | €1.7m | €1.5m | ▼ 13.0% |
| Cash at bank and in hand54/58 | €797,497 | €832,426 | €107,659 | €96,350 | €26,832 | ▼ 72.2% |
| Deferred charges and accrued income490/1 | €18,268 | €16,488 | €17,403 | €23,712 | €14,427 | ▼ 39.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.5m | €11.1m | €8.8m | €7.9m | €7.1m | ▼ 10.1% |
| Equity10/15 | €173,229 | €70,166 | €568,619 | €697,553 | €20,286 | ▼ 97.1% |
| Contributions10/11 | €180,000 | €180,000 | €180,000 | €180,000 | €180,000 | = |
| Reserves13 | €645,084 | €645,084 | €894,310 | €958,777 | €958,777 | = |
| Non-distributable reserves130/1 | €18,000 | €18,000 | €18,000 | €18,000 | - | - |
| Reserves not available under the articles1311 | €18,000 | €18,000 | €18,000 | €18,000 | - | - |
| Tax-exempt reserves132 | €2,884 | - | - | - | - | - |
| Distributable reserves133 | €624,199 | €627,084 | €876,310 | €940,777 | €958,777 | ▲ 1.9% |
| Profit (loss) carried forward14 | -€651,855 | -€754,917 | -€505,691 | -€441,224 | -€1.1m | ▼ 153% |
| Amounts payable17/49 | €6.4m | €11.0m | €8.2m | €7.2m | €7.1m | ▼ 1.7% |
| Amounts payable after more than one year17 | €2.3m | €3.0m | €3.2m | €3.3m | €5.7m | ▲ 72.2% |
| Financial debts170/4 | €1.9m | €2.8m | €3.0m | €3.2m | €4.8m | ▲ 48.9% |
| Other amounts payable178/9 | €450,000 | €240,000 | €200,000 | €95,000 | €913,291 | ▲ 861% |
| Amounts payable within one year42/48 | €327,510 | €807,978 | €822,443 | €1.4m | €310,642 | ▼ 78.2% |
| Current portion of amounts payable after more than one year42 | €18,648 | €18,353 | €18,641 | €18,934 | €34,719 | ▲ 83.4% |
| Financial debts43 | - | - | - | €81,848 | - | - |
| Credit institutions430/8 | - | - | - | €81,848 | - | - |
| Trade debts44 | €199,632 | €536,388 | €550,446 | €1.1m | €108,318 | ▼ 89.7% |
| Suppliers440/4 | €199,632 | €536,388 | €550,446 | €1.1m | €108,318 | ▼ 89.7% |
| Taxes, remuneration and social security45 | €95,817 | €201,082 | €148,657 | €138,113 | €49,022 | ▼ 64.5% |
| Taxes450/3 | €75,728 | €183,056 | €124,349 | €125,875 | €28,489 | ▼ 77.4% |
| Remuneration and social security454/9 | €20,088 | €18,026 | €24,308 | €12,238 | €20,533 | ▲ 67.8% |
| Other amounts payable47/48 | €13,413 | €52,155 | €104,699 | €128,195 | €118,582 | ▼ 7.5% |
| Accrued charges and deferred income492/3 | €3.7m | €7.1m | €4.2m | €2.5m | €1.1m | ▼ 56.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€797,333 | -€103,063 | €498,453 | €128,934 | -€677,267 | ▼ 625% |
| + Depreciation and write-downs630 | €25,912 | €28,995 | €37,067 | €51,630 | €49,796 | ▼ 3.6% |
| Operating cash flow (approximation) | -€771,421 | -€74,068 | €535,520 | €180,564 | -€627,471 | ▼ 448% |
| Investment in fixed assets (approximation) | - | -€202,280 | -€44,012 | €123,923 | -€68,197 | ▼ 155% |
| Change in cash | - | €34,929 | -€724,766 | -€11,309 | -€69,519 | ▼ 515% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 25 days late
2025
31-12
Financial
Liquidity quadruplescurrent ratio 21.96
Current ratio from 5.37 to 21.96; short-term debt falls from €1.4m to €310,642.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €498,453
Net result €498,453 after 3 loss-making years.
31-12
Financial
Equity above €500,000Eq €568,619 ▲710%
Equity rises from €70,166 to €568,619.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€797,333
Net result drops to -€797,333, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 19.16
Current ratio from 5.15 to 19.16; short-term debt falls from €678,178 to €327,510.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Waregem · 1 establishment unit since 2012
Ground area
796 m²
Building footprint
781 m²
Volume, LiDAR
4,939 m³
Parcel 34040C1431/00A000, Flanders · tallest building 13.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
KUB
since 20122.209.933.677
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34040C1431/00A000 | Flanders | 796 m² | 1 · 781 m² | 13.5 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.
Structure & network
Owners and holdings
3 owners · 2 holdingsOwners 3
- Sourceaccounts BAUWIES 202433.33%
-
25%
-
25%
Holdings 2
-
50%
-
50%
According to the 2025 annual accounts of KUB and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 677 EUR awarded · 677 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 479 EUR | 479 EUR |
| 2023 | 1 | 66 EUR | 66 EUR |
| 2022 | 1 | 132 EUR | 132 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
9845001CC036CDSC0F57
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. 4,061 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
Founded24-04-2012
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68121Development of residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0845473576
Also
9925:BE0845473576
Registered
22-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.