KURSUN

Active

Private limited companyfounded 20215 yrs activeBredestraat 86, 9041 Gent, BelgiumKBO/BCE: BE 0766.279.115

Summary

The computed 12-month bankruptcy probability of KURSUN is 1.9% (moderate). The 2025 annual accounts show equity of €56k and a net result of €20k. Equity is growing by ~64.8% per year across the filed fiscal years. Its solvency ranks better than 74% of 7453 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

73 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability98▼-2

Solvency91▲+2

Growth78=

Track record94

Bankruptcy probability, 12 months

1.9% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €4k at 30 days acceptable

Liquidity ample (current ratio 2.89 against 2.79 in 2024; short-term debt: 33.9% and cash: 14.7% of total assets), and 33.9% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

66.1%

Return on assets

23.5%

Age of the figures

15 mo

Filed after the deadline

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-04-2026, 89 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 · 4 filings

Deviation from the deadline

2025

89 d late

2024

81 d late

2023

6 d late

2022

28 d late

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

30-06-2026 close24-09-2026 today31-01-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Turnover

€83k

EBIT margin

10.6%

Net result

€20k▲ 10.4%

2024 · €18k

2022: €5k 2023: €13k 2024: €18k

2022 → 2025

Working capital

€55k▲ 52.1%

2024 · €36k

2022: €5k 2023: €15k 2024: €36k

2022 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2022202320242025Trend

Turnover€83k-

Equity€5k-€18k▲ 254%€36k▲ 100%€56k▲ 55.3%

Operating result€9k-€23k▲ 163%€31k▲ 35.4%€33k▲ 4.5%

Net result€5k-€13k▲ 154%€18k▲ 39.8%€20k▲ 10.4%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen three years in a row; 2025 is 5% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €85k

98.2%

Fixed assets €2k ▲ 556%

Current assets €84k ▲ 49.0%

Equity and liabilities €85k

66.1%

33.9%

Equity €56k ▲ 55.3%

Debt €29k ▲ 43.6%

Debt's share of the balance-sheet total falls from 35.7% to 33.9%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€39k▲

2024 · €32k

Cash flow

€27k▲

2024 · €19k

Current ratio

2.89▲

2024 · 2.79

Debt to equity

0.51▼

2024 · 0.56

ROE

35.6%▼

2024 · 50.1%

ROA

23.5%▼

2024 · 32.2%

Interest coverage

8.85▲

2024 · 7.42

Debt ≤ 1 year

€29k▲

2024 · €20k

Income taxes

€11k▲

2024 · €11k

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 · 39 lines

Balance sheet Code20242025

Assets

Total assets20/58€56k€85k▲

Fixed assets21/28€230€2k▲

Tangible fixed assets22/27€230€2k▲

Plant, machinery and equipment23€230€2k▲

Current assets29/58€56k€84k▲

Amounts receivable within one year40/41€44k€71k▲

Trade receivables40-€11k

Other amounts receivable41€44k€60k▲

Cash at bank and in hand54/58€13k€13k=

Equity and liabilities

Total equity and liabilities10/49€56k€85k▲

Equity10/15€36k€56k▲

Reserves13€18k€38k▲

Distributable reserves133€18k€38k▲

Profit (loss) carried forward14€18k€18k=

Amounts payable17/49€20k€29k▲

Amounts payable within one year42/48€20k€29k▲

Current portion of amounts payable after more than one year42€747-

Trade debts44€1k€12k▲

Suppliers440/4€1k€12k▲

Taxes, remuneration and social security45€18k€17k▼

Taxes450/3€18k€17k▼

Income statement Code20242025

Goods, raw materials, services and sundry goods60/61€102k-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€460€7k▲

Other operating charges640/8€3k€3k▲

Non-recurring operating charges66A€383-

Gross operating margin9900€35k€42k▲

Operating profit (loss)9901€31k€33k▲

Financial income75/76B€2k€3k▲

Recurring financial income75€2k€3k▲

Financial charges65/66B€4k€4k▲

Recurring financial charges65€4k€4k▲

Profit (loss) for the period before taxes9903€29k€31k▲

Income taxes67/77€11k€11k▲

Profit (loss) for the period9904€18k€20k▲

Profit (loss) for the period to be appropriated9905€18k€20k▲

Appropriation of the result

Profit (loss) to be appropriated9906€36k€38k▲

Profit (loss) brought forward from the previous period14P€18k€18k=

Transfer to equity691/2€18k€20k▲

To other reserves6921€18k€20k▲

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 5Financial 1Filings 4

Next filing, fiscal year 2026, expected by 31-01-2027

2026

30-04

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 89 days late

2025

30-06

Financial Highest result since 2022net €20k ▲10.4%

Operating result €33k, net result €20k, both a record.

22-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 81 days late

2024

06-02

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 6 days late

2023

28-02

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 28 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is 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, Gent · 1 establishment unit since 2021

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Bredestraat 869041 Gent

Ground area

233 m²

Building footprint

95 m²

Volume, LiDAR

557 m³

Parcel 44051B0202/00L000, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

KURSUN

Bredestraat 86, 9041 GentConstruction of utility projects for electricity and telecommunications

since 20212.316.489.167

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44051B0202/00L000	Flanders	233 m²	1 · 95 m²	10.2 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

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

Recognised contractor

2 categories

KURSUN BV42080

category C2, class 1 · category P1, class 1

decision 13-06-2022

Similar companies · same sector, comparable size

Kraainem · Eq €56,166

Sint-Lievens-Houtem · Eq €56,237

MD DOOR

BE 0720.861.636

Overijse · Eq €56,130

Of 29,797 companies in sector 41001 we hold annual accounts for 16,049. 13,157 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded01-04-2021

Fiscal year end30-06

Activities, NACEBEL 2025

41001General construction of residential buildings

41003General construction of other non-residential buildings

43211General electrical installation work

43222Installation of electric heating, air conditioning, cooling and ventilation

Sources

Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.