NATURAL EVOLUTION 21
ActiveSummary
NATURAL EVOLUTION 21 has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15,218 and a net result of -€8,213. Equity is shrinking by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 15% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▲+37
Solvency37▼-5
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity short (current ratio 0.64 against 0.87 in 2024; short-term debt: 64% and cash: 1.6% of total assets), and 88.3% of the assets are financed with debt.
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Signals
Seven 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 →
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
11.7%
Return on assets
-6.3%
Age of the figures
9 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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€8,213
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 28374 sector peers (2025).
NBB · sector comparisonPosition among 28374 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 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
29 d late
2024
30 d early
2023
27 d early
2022
24 d early
2021
34 d early
2020
24 d late
2019
25 d late
← 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 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 5 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€15,218▼ 35.1%
2024 · €23,431
Total assets
€130,070▼ 7.4%
2024 · €140,524
Net result
-€8,213▲ 79.3%
2024 · -€39,745
Working capital
-€29,570▼ 215%
2024 · -€9,386
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€22,051▲ 37.9%€893▼ 96.0%€9,607▲ 976%-€37,622-€1,512▲ 96.0%
Net result€16,594within the sector's middle half▲ 7.2%€466below the sector's middle half▼ 97.2%€6,481within the sector's middle half▲ 1,291%-€39,745below the sector's middle half-€8,213below the sector's middle half▲ 79.3%
Equity€56,229within the sector's middle half▲ 41.9%€56,695within the sector's middle half▲ 0.8%€63,176within the sector's middle half▲ 11.4%€23,431within the sector's middle half▼ 62.9%€15,218below the sector's middle half▼ 35.1%
Total assets€116,536within the sector's middle half▲ 41.1%€155,762within the sector's middle half▲ 33.7%€92,807within the sector's middle half▼ 40.4%€140,524within the sector's middle half▲ 51.4%€130,070within the sector's middle half▼ 7.4%
Debt€60,307▲ 40.3%€99,067▲ 64.3%€29,631▼ 70.1%€117,093▲ 295%€114,853▼ 1.9%
Working capital€41,608within the sector's middle half▲ 48.6%€37,352within the sector's middle half▼ 10.2%€55,343within the sector's middle half▲ 48.2%-€9,386below the sector's middle half-€29,570below the sector's middle half▼ 215%
Solvency48.3%within the sector's middle half▲ 0.3pp36.4%within the sector's middle half▼ 11.9pp68.1%above the sector's middle half▲ 31.7pp16.7%below the sector's middle half▼ 51.4pp11.7%below the sector's middle half▼ 5.0pp
Current ratio1.69within the sector's middle half▲ 0.041.38within the sector's middle half▼ 0.312.87within the sector's middle half▲ 1.490.87below the sector's middle half▼ 1.990.64below the sector's middle half▼ 0.23
Return on assets (ROA)14.2%within the sector's middle half▼ 4.5pp0.3%below the sector's middle half▼ 13.9pp7.0%within the sector's middle half▲ 6.7pp-28.3%below the sector's middle half▼ 35.3pp-6.3%below the sector's middle half▲ 22.0pp
Staff (FTE)2.6▲ 18.2%3▲ 15.4%2.6▼ 13.3%4▲ 53.8%3.5▼ 12.5%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,512 in 2025 against €37,622 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €130,070
Fixed assets
€76,354 ▲ 0.3%
Current assets
€53,716 ▼ 16.6%
Equity and liabilities €130,070
Equity
€15,218 ▼ 35.1%
Debt
€114,853 ▼ 1.9%
Debt's share of the balance-sheet total rises from 83.3% to 88.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€20,249▲
2024 · -€23,302
Cash flow
€13,548▲
2024 · -€25,424
Quick ratio
0.34▼
2024 · 0.67
Debt to equity
7.55▲
2024 · 5.00
ROE
-54.0%▲
2024 · -169.6%
Interest coverage
3.13▲
2024 · -12.29
Debt ≤ 1 year
€83,286▲
2024 · €73,796
Debt > 1 year
€31,566▼
2024 · €43,297
Income taxes
€233▲
2024 · €227
Staff costs
€129,214▲
2024 · €123,652
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,165 companies that looked in July 2024 the way this one looks now, 2.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
2.6%
went bankrupt
3.0%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 2,165 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,980 | €14,176 | ▲ 185% |
| Remuneration, social security and pensions62 | €103,413 | €120,873 | €121,850 | €123,652 | €129,214 | ▲ 4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,726 | €10,203 | €11,511 | €14,320 | €21,761 | ▲ 52.0% |
| Other operating charges640/8 | €1,042 | €1,042 | €1,988 | €4,463 | €6,506 | ▲ 45.8% |
| Gross operating margin9900 | €132,231 | €133,011 | €144,956 | €104,813 | €155,969 | ▲ 48.8% |
| Operating profit (loss)9901 | €22,051 | €893 | €9,607 | -€37,622 | -€1,512 | ▲ 96.0% |
| Financial income75/76B | €834 | €645 | - | - | - | - |
| Recurring financial income75 | €834 | €645 | - | - | - | - |
| Financial charges65/66B | €1,697 | €637 | €701 | €1,896 | €6,468 | ▲ 241% |
| Recurring financial charges65 | €1,697 | €487 | €701 | €1,896 | €6,468 | ▲ 241% |
| Non-recurring financial charges66B | - | €150 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €21,187 | €900 | €8,906 | -€39,518 | -€7,980 | ▲ 79.8% |
| Income taxes67/77 | €4,592 | €434 | €2,425 | €227 | €233 | ▲ 3.0% |
| Profit (loss) for the period9904 | €16,594 | €466 | €6,481 | -€39,745 | -€8,213 | ▲ 79.3% |
| Profit (loss) for the period to be appropriated9905 | €16,594 | €466 | €6,481 | -€39,745 | -€8,213 | ▲ 79.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €116,536 | €155,762 | €92,807 | €140,524 | €130,070 | ▼ 7.4% |
| Fixed assets21/28 | €14,621 | €19,343 | €7,832 | €76,115 | €76,354 | ▲ 0.3% |
| Tangible fixed assets22/27 | €13,721 | €18,443 | €6,932 | €75,215 | €75,454 | ▲ 0.3% |
| Plant, machinery and equipment23 | €4,239 | €3,003 | €1,766 | €636 | €0 | ▼ 100% |
| Furniture and vehicles24 | €9,332 | €15,441 | €5,166 | €74,579 | €75,454 | ▲ 1.2% |
| Other tangible fixed assets26 | €150 | - | - | - | - | - |
| Financial fixed assets28 | €900 | €900 | €900 | €900 | €900 | = |
| Current assets29/58 | €101,915 | €136,418 | €84,974 | €64,409 | €53,716 | ▼ 16.6% |
| Stocks and contracts in progress3 | €10,000 | €18,000 | - | €15,000 | €25,000 | ▲ 66.7% |
| Stocks30/36 | €10,000 | €18,000 | - | €15,000 | €25,000 | ▲ 66.7% |
| Amounts receivable within one year40/41 | €29,714 | €93,559 | €56,025 | €41,717 | €26,599 | ▼ 36.2% |
| Trade receivables40 | €13,156 | €71,206 | €56,025 | €21,476 | €26,116 | ▲ 21.6% |
| Other amounts receivable41 | €16,557 | €22,353 | - | €20,242 | €483 | ▼ 97.6% |
| Cash at bank and in hand54/58 | €49,791 | €24,860 | €24,616 | €7,692 | €2,117 | ▼ 72.5% |
| Deferred charges and accrued income490/1 | €12,410 | - | €4,333 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €116,536 | €155,762 | €92,807 | €140,524 | €130,070 | ▼ 7.4% |
| Equity10/15 | €56,229 | €56,695 | €63,176 | €23,431 | €15,218 | ▼ 35.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €35,769 | €36,235 | €42,716 | €2,971 | -€5,242 | ▼ 276% |
| Amounts payable17/49 | €60,307 | €99,067 | €29,631 | €117,093 | €114,853 | ▼ 1.9% |
| Amounts payable after more than one year17 | - | - | - | €43,297 | €31,566 | ▼ 27.1% |
| Financial debts170/4 | - | - | - | €43,297 | €31,566 | ▼ 27.1% |
| Amounts payable within one year42/48 | €60,307 | €99,067 | €29,631 | €73,796 | €83,286 | ▲ 12.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,251 | €11,731 | ▲ 4.3% |
| Trade debts44 | €42,351 | €86,829 | €8,361 | €4,744 | €17,271 | ▲ 264% |
| Suppliers440/4 | €42,351 | €86,829 | €8,361 | €4,744 | €17,271 | ▲ 264% |
| Taxes, remuneration and social security45 | €17,956 | €7,238 | €17,372 | €43,490 | €23,564 | ▼ 45.8% |
| Taxes450/3 | €6,586 | €6,316 | €10,843 | €13,872 | €1,607 | ▼ 88.4% |
| Remuneration and social security454/9 | €11,370 | €922 | €6,529 | €29,618 | €21,956 | ▼ 25.9% |
| Other amounts payable47/48 | - | €5,000 | €3,899 | €14,310 | €30,720 | ▲ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,594 | €466 | €6,481 | -€39,745 | -€8,213 | ▲ 79.3% |
| + Depreciation and write-downs630 | €5,726 | €10,203 | €11,511 | €14,320 | €21,761 | ▲ 52.0% |
| Operating cash flow (approximation) | €22,320 | €10,669 | €17,991 | -€25,424 | €13,548 | ▲ 153% |
| Investment in fixed assets (approximation) | - | -€14,926 | €0 | -€82,603 | -€22,000 | ▲ 73.4% |
| Change in cash | - | -€24,932 | -€244 | -€16,924 | -€5,575 | ▲ 67.1% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€39,745
Net result drops to -€39,745, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 2.87
Current ratio from 1.38 to 2.87; short-term debt falls from €99,067 to €29,631.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
31-12
Financial
Back to profitnet €15,483
Net result €15,483 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 25 days late
2019
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 1 day late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 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, Thimister-Clermont · 1 establishment unit since 2012
Ground area
1,852 m²
Building footprint
338 m²
Volume, LiDAR
2,619 m³
Parcel 63017B0468/00B000, Wallonia · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
NATURAL EVOLUTION 21
since 20122.208.828.570
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63017B0468/00B000 | Wallonia | 1,852 m² | 1 · 338 m² | 10.8 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 11,140 companies in sector 43910 we hold annual accounts for 5,495. 3,576 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
Founded05-04-2012
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43910Bricklaying and masonry work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0845045192
Registered
27-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.