NETCEL

Active

Private limited companyfounded 20215 yrs activeMuidepoort 112, 9000 Gent, BelgiumKBO/BCE: BE 0763.927.062

The computed 12-month bankruptcy probability of NETCEL is 3.2% (moderate). The 2024 annual accounts show equity of €71k and a net result of €-3k. Equity is growing by ~44% per year across the filed fiscal years. Its solvency ranks better than 28% of 36378 sector peers (fiscal year 2024). 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 2024

37 / 100

Weak▼ -52 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0▼-100

Solvency48▼-19

Growth52▼-26

Stability94

Bankruptcy probability, 12 months

3.2% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €3k at 30 days only on tighter terms

Liquidity tight (current ratio 1.33 against 1.42 in 2023), and 73.3% 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

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

+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 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

26.7%

Return on assets

-0.9%

Age of the figures

24 mo

Annual accounts not filed

The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record, 139 days later.

NBB · 3 filings

Position against the passed deadline

30-09-2025 close30-04-2026 deadline16-09-2026 today

Filed more than 90 days late

The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 26-09-2025, 149 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 3 filings

Deviation from the deadline

2025

not filed

2024

149 d late

2023

34 d late

2022

5 d early

← before the deadline after the 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 2024, micro schema

Equity

€71k▼ 3.4%

2023 · €74k

2022: €9k 2023: €74k

2022 → 2024

Total assets

€266k▲ 33.1%

2023 · €200k

2022: €110k 2023: €200k

2022 → 2024

Net result

€-3k

2023 · €65k

2022: €9k 2023: €65k

2022 → 2024

Working capital

€62k▲ 29.8%

2023 · €48k

2022: €-11k 2023: €48k

2022 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202220232024Trend

Equity€9k-€74k▲ 758%€71k▼ 3.4%

Operating result€11k-€80k▲ 663%€-2k

Net result€9k-€65k▲ 658%€-3k

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

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2024: a loss of €2k after €80k in 2023, the lowest year so far.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €266k

94.4%

Fixed assets €15k▼ 59.9%

Current assets €252k▲ 54.2%

Equity and liabilities €266k

26.7%

73.3%

Equity €71k▼ 3.4%

Debt €195k▲ 54.3%

The debt ratio rises from 63.2% to 73.3%: debt grows while equity shrinks.

Key figures and ratios

2024 value · change against 2023

EBITDA

€2k▼

2023 · €93k

Cash flow

€2k▼

2023 · €78k

Solvency

26.7%▼

2023 · 36.8%

Current ratio

1.33▼

2023 · 1.42

Quick ratio

1.33▼

2023 · 1.42

Debt / equity

2.75▲

2023 · 1.72

ROE

-3.5%▼

2023 · 88.3%

ROA

-0.9%▼

2023 · 32.5%

Interest coverage

0.54▼

2023 · 47.56

Debt

€195k▲

2023 · €127k

Debt ≤ 1 year

€189k▲

2023 · €115k

Debt > 1 year

€6k▼

2023 · €12k

Income taxes

€-7▼

2023 · €16k

Staff costs

€-954▼

2023 · €10k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€200k€266k▲

Fixed assets21/28€37k€15k▼

Tangible fixed assets22/27€37k€15k▼

Plant, machinery and equipment23€2k-

Furniture and vehicles24€4k-

Leasing and similar rights25€30k€15k▼

Current assets29/58€163k€252k▲

Amounts receivable within one year40/41€138k€234k▲

Trade receivables40€80k€176k▲

Other amounts receivable41€58k€58k▲

Cash at bank and in hand54/58€23k€13k▼

Deferred charges and accrued income490/1€2k€4k▲

Equity and liabilities

Total equity and liabilities10/49€200k€266k▲

Equity10/15€74k€71k▼

Reserves13€74k€74k=

Distributable reserves133€74k€74k=

Profit (loss) carried forward14-€-3k

Amounts payable17/49€127k€195k▲

Amounts payable after more than one year17€12k€6k▼

Financial debts170/4€12k€6k▼

Amounts payable within one year42/48€115k€189k▲

Current portion of amounts payable after more than one year42€14k€8k▼

Trade debts44€82k€166k▲

Suppliers440/4€82k€166k▲

Taxes, remuneration and social security45€20k€16k▼

Taxes450/3€16k€16k=

Remuneration and social security454/9€4k-

Income statement Code20232024

Non-recurring operating income76A-€22k

Remuneration, social security and pensions62€10k€-954▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€4k▼

Other operating charges640/8€829€627▼

Non-recurring operating charges66A€1k-

Gross operating margin9900€105k€2k▼

Operating profit (loss)9901€80k€-2k▼

Financial income75/76B€2k€4k▲

Recurring financial income75€2k€4k▲

Financial charges65/66B€2k€4k▲

Recurring financial charges65€2k€4k▲

Profit (loss) for the period before taxes9903€81k€-3k▼

Income taxes67/77€16k€-7▼

Profit (loss) for the period9904€65k€-3k▼

Profit (loss) for the period to be appropriated9905€65k€-3k▼

Appropriation of the result

Profit (loss) to be appropriated9906€65k€-3k▼

Transfer to equity691/2€65k-

To other reserves6921€65k-

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 5Financial 2Filings 3

2025

26-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 149 days late

2024

30-09

Financial Weakest financial yearnet €-3k ▼104%

Net result drops to €-3k, the lowest in the series.

03-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 34 days late

2023

30-09

Financial Highest result since 2022net €65k ▲658%

Operating result €80k, net result €65k, both a record.

25-04

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

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.

Muidepoort 1129000 Gent

Ground area

234 m²

Building footprint

95 m²

Parcel 44021A3104/00M000, Flanders. Linked by address, not a title deed.

1 establishment unit

NETCEL

Muidepoort 112, 9000 GentCivil engineering

since 20212.315.104.740

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44021A3104/00M000	Flanders	234 m²	1 · 95 m²	-

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.

Similar companies · same sector, comparable size

Of 22,740 companies in sector 43211 we hold annual accounts for 10,275. 8,721 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded23-02-2021

Fiscal year end30-09

Activities, NACEBEL

43211General electrical installation work

42220Construction of utility projects for electricity and telecommunications

Sources

Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers

Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.