MODISOL
ActiveSummary
MODISOL has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23k and a net result of €105. Equity is shrinking by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 15% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability43▼-2
Solvency37▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.17 against 1.21 in 2024; short-term debt: 22.7% and cash: 0.4% of total assets), and 88.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 15% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-01-2026, 26 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
26 d early
2024
42 d early
2023
26 d early
2022
39 d early
2021
41 d early
2020
39 d early
2019
32 d early
← 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
Financials · fiscal year 2025, micro schema
Equity
€23k▲ 0.5%
2024 · €23k
2019: €49k
2020: €45k▼ -9.1% vs 2019
2021: €50k▲ +11.3% vs 2020highest in 7 years
2022: €22k▼ -56.1% vs 2021lowest in 7 years
2023: €22k▲ +1.9% vs 2022
2024: €23k▲ +3.3% vs 2023
2025: €23k▲ +0.5% vs 2024
2019 → 2025
Total assets
€201k▼ 1.2%
2024 · €203k
2019: €262khighest in 7 years
2020: €255k▼ -2.7% vs 2019
2021: €254k▼ -0.6% vs 2020
2022: €222k▼ -12.6% vs 2021
2023: €215k▼ -3.0% vs 2022
2024: €203k▼ -5.5% vs 2023
2025: €201k▼ -1.2% vs 2024lowest in 7 years
2019 → 2025
Net result
€105▼ 85.9%
2024 · €747
2019: €-2k
2020: €-5k▼ -183% vs 2019
2021: €5k▲ +212% vs 2020highest in 7 years
2022: €-28k▼ -654% vs 2021lowest in 7 years
2023: €425▲ +102% vs 2022
2024: €747▲ +75.9% vs 2023
2025: €105▼ -85.9% vs 2024
2019 → 2025
Working capital
€8k▼ 6.0%
2024 · €8k
2019: €35khighest in 7 years
2020: €24k▼ -32.7% vs 2019
2021: €31k▲ +31.7% vs 2020
2022: €8k▼ -73.4% vs 2021
2023: €8k▼ -0.1% vs 2022
2024: €8k▼ -0.4% vs 2023
2025: €8k▼ -6.0% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€50k-€22k▼ 56.1%€22k▲ 1.9%€23k▲ 3.3%€23k▲ 0.5%
2021: €50khighest in 5 years
2022: €22k▼ -56.1% vs 2021lowest in 5 years
2023: €22k▲ +1.9% vs 2022
2024: €23k▲ +3.3% vs 2023
2025: €23k▲ +0.5% vs 2024
Operating result€9k-€-25k€5k€5k▲ 13.3%€5k▼ 8.4%
2021: €9khighest in 5 years
2022: €-25k▼ -379% vs 2021lowest in 5 years
2023: €5k▲ +119% vs 2022
2024: €5k▲ +13.3% vs 2023
2025: €5k▼ -8.4% vs 2024
Net result€5k-€-28k€425€747▲ 75.9%€105▼ 85.9%
2021: €5khighest in 5 years
2022: €-28k▼ -654% vs 2021lowest in 5 years
2023: €425▲ +102% vs 2022
2024: €747▲ +75.9% vs 2023
2025: €105▼ -85.9% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €201k
Fixed assets
€147k ▼ 5.4%
Current assets
€54k ▲ 12.6%
Equity and liabilities €201k
Equity
€23k ▲ 0.5%
Debt
€178k ▼ 1.4%
Debt's share of the balance-sheet total falls from 88.7% to 88.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€13k▼
2024 · €14k
Cash flow
€9k▼
2024 · €9k
Current ratio
1.17▼
2024 · 1.21
Debt to equity
7.67▼
2024 · 7.81
ROE
0.5%▼
2024 · 3.2%
ROA
0.1%▼
2024 · 0.4%
Interest coverage
2.86▼
2024 · 3.13
Debt ≤ 1 year
€46k▲
2024 · €39k
Debt > 1 year
€132k▼
2024 · €141k
Income taxes
€170▼
2024 · €243
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 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€203k€201k▼
Fixed assets21/28€156k€147k▼
Tangible fixed assets22/27€156k€147k▼
Land and buildings22€156k€147k▼
Current assets29/58€48k€54k▲
Amounts receivable within one year40/41€43k€50k▲
Trade receivables40€43k€50k▲
Other amounts receivable41€0-
Cash at bank and in hand54/58€772€850▲
Deferred charges and accrued income490/1€4k€2k▼
Equity and liabilities
Total equity and liabilities10/49€203k€201k▼
Equity10/15€23k€23k▲
Contributions10/11€19k€19k=
Reserves13€4k€5k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€4k€5k▲
Amounts payable17/49€180k€178k▼
Amounts payable after more than one year17€141k€132k▼
Financial debts170/4€141k€132k▼
Amounts payable within one year42/48€39k€46k▲
Current portion of amounts payable after more than one year42€9k€10k▲
Financial debts43€3k€4k▲
Credit institutions430/8€3k€4k▲
Trade debts44€10k€8k▼
Suppliers440/4€10k€8k▼
Taxes, remuneration and social security45€4k€5k▲
Taxes450/3€4k€5k▲
Other amounts payable47/48€14k€19k▲
Accrued charges and deferred income492/3€193€414▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k=
Other operating charges640/8€3k€2k▼
Gross operating margin9900€16k€16k▼
Operating profit (loss)9901€5k€5k▼
Financial income75/76B€2€0▼
Recurring financial income75€2€0▼
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€990€275▼
Income taxes67/77€243€170▼
Profit (loss) for the period9904€747€105▼
Profit (loss) for the period to be appropriated9905€747€105▼
Appropriation of the result
Profit (loss) to be appropriated9906€747€105▼
Profit (loss) brought forward from the previous period14P€0-
Transfer from equity791/2€0-
Transfer to equity691/2€747€105▼
To other reserves6921€747€105▼
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 | - | €3k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €8k | €8k | €8k | €8k | = |
| Other operating charges640/8 | - | €3k | €2k | €3k | €2k | ▼ 13.4% |
| Gross operating margin9900 | €22k | €-13k | €16k | €16k | €16k | ▼ 4.9% |
| Operating profit (loss)9901 | €9k | €-25k | €5k | €5k | €5k | ▼ 8.4% |
| Financial income75/76B | - | €1k | €515 | €2 | €0 | ▼ 100% |
| Recurring financial income75 | €2k | €1k | €515 | €2 | €0 | ▼ 100% |
| Financial charges65/66B | - | €4k | €5k | €4k | €5k | ▲ 5.8% |
| Recurring financial charges65 | €4k | €4k | €5k | €4k | €5k | ▲ 5.8% |
| Profit (loss) for the period before taxes9903 | €6k | €-28k | €647 | €990 | €275 | ▼ 72.2% |
| Income taxes67/77 | €1k | €130 | €223 | €243 | €170 | ▼ 30.2% |
| Profit (loss) for the period9904 | €5k | €-28k | €425 | €747 | €105 | ▼ 85.9% |
| Profit (loss) for the period to be appropriated9905 | €5k | €-28k | €425 | €747 | €105 | ▼ 85.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €254k | €222k | €215k | €203k | €201k | ▼ 1.2% |
| Fixed assets21/28 | €186k | €173k | €164k | €156k | €147k | ▼ 5.4% |
| Tangible fixed assets22/27 | €186k | €173k | €164k | €156k | €147k | ▼ 5.4% |
| Land and buildings22 | - | €173k | €164k | €156k | €147k | ▼ 5.4% |
| Furniture and vehicles24 | - | €0 | - | - | - | - |
| Current assets29/58 | €67k | €49k | €51k | €48k | €54k | ▲ 12.6% |
| Amounts receivable within one year40/41 | €66k | €46k | €50k | €43k | €50k | ▲ 16.6% |
| Trade receivables40 | - | €34k | €38k | €43k | €50k | ▲ 16.6% |
| Other amounts receivable41 | - | €12k | €11k | €0 | - | - |
| Cash at bank and in hand54/58 | €215 | €590 | €682 | €772 | €850 | ▲ 10.1% |
| Deferred charges and accrued income490/1 | - | €2k | €473 | €4k | €2k | ▼ 35.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €254k | €222k | €215k | €203k | €201k | ▼ 1.2% |
| Equity10/15 | €50k | €22k | €22k | €23k | €23k | ▲ 0.5% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €26k | €4k | €4k | €5k | ▲ 2.3% |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Distributable reserves133 | - | €24k | €2k | €4k | €5k | ▲ 2.3% |
| Profit (loss) carried forward14 | €5k | €-23k | €0 | - | - | - |
| Amounts payable17/49 | €204k | €200k | €193k | €180k | €178k | ▼ 1.4% |
| Amounts payable after more than one year17 | €167k | €159k | €150k | €141k | €132k | ▼ 6.5% |
| Financial debts170/4 | - | €159k | €150k | €141k | €132k | ▼ 6.5% |
| Amounts payable within one year42/48 | €36k | €41k | €43k | €39k | €46k | ▲ 16.5% |
| Current portion of amounts payable after more than one year42 | - | €9k | €9k | €9k | €10k | ▲ 10.6% |
| Financial debts43 | - | €786 | €850 | €3k | €4k | ▲ 38.7% |
| Credit institutions430/8 | - | €786 | €850 | €3k | €4k | ▲ 38.7% |
| Trade debts44 | €1k | €6k | €5k | €10k | €8k | ▼ 22.6% |
| Suppliers440/4 | - | €6k | €5k | €10k | €8k | ▼ 22.6% |
| Taxes, remuneration and social security45 | - | €2k | €3k | €4k | €5k | ▲ 41.3% |
| Taxes450/3 | - | €2k | €3k | €4k | €5k | ▲ 41.3% |
| Other amounts payable47/48 | - | €24k | €25k | €14k | €19k | ▲ 36.8% |
| Accrued charges and deferred income492/3 | - | €348 | €348 | €193 | €414 | ▲ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €-28k | €425 | €747 | €105 | ▼ 85.9% |
| + Depreciation and write-downs630 | €11k | €8k | €8k | €8k | €8k | = |
| Operating cash flow (approximation) | €16k | €-20k | €9k | €9k | €9k | ▼ 7.0% |
| Investment in fixed assets (approximation) | - | €5k | €0 | €0 | €0 | - |
| Change in cash | - | €375 | €92 | €91 | €78 | ▼ 14.3% |
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
05-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
20-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
05-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Back to profitnet €425
Net result €425 after one loss-making year.
2022
23-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Back to profitnet €5k
Net result €5k after 2 loss-making years.
2020
23-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
22-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
22-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
19-12
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 2 acts read
About the unread acts
We know of 2 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
2 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, Houthalen-Helchteren · 1 establishment unit since 2008
Ground area
1,552 m²
Building footprint
348 m²
Volume, LiDAR
630 m³
2 parcels, Flanders · tallest building 8.1 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Nvi isolatiewerken
since 20082.172.821.279
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72453F1147/00M037 | Flanders | 860 m² | 1 · 203 m² | - |
| 72453F1148/00B017 | Flanders | 691 m² | 1 · 146 m² | 8.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,271 companies in sector 43230 we hold annual accounts for 1,240. 897 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
Founded15-07-2008
Fiscal year end30-06
Activities, NACEBEL 2025
43230Insulation installation
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
Scores and ratios are computed by Checked and are not a credit decision.