NR KEYSTONE
ActiveSummary
The computed 12-month bankruptcy probability of NR KEYSTONE is 3.0% (moderate). For NR KEYSTONE, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €65,883 and a net result of €50,780. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 54% of 8993 sector peers (fiscal year 2023). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability100▲+29
Solvency69▲+38
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
3.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · 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
Construction of residential and non-residential buildings (NACE 41)
about 67% 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 2023Solvency, return and age of the figures
Solvency
44.2%
Return on assets
34%
Age of the figures
33 mo
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 4 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline01-10-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-08-2024, 30 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 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
30 d late
2022
34 d early
2021
88 d late
2020
78 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 41 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Equity
€65,883▲ 336%
2022 · €15,103
Total assets
€149,176▼ 36.8%
2022 · €236,030
Net result
€50,780▲ 955%
2022 · €4,813
Working capital
€48,310▲ 317%
2022 · €11,589
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2020202120222023
Operating result€42,114--€30,411€5,020€59,411▲ 1,084%
Net result€30,825above the sector's middle half--€30,534below the sector's middle half€4,813within the sector's middle half€50,780above the sector's middle half▲ 955%
Equity€40,825within the sector's middle half-€10,290below the sector's middle half▼ 74.8%€15,103within the sector's middle half▲ 46.8%€65,883within the sector's middle half▲ 336%
Total assets€58,498below the sector's middle half-€26,649below the sector's middle half▼ 54.4%€236,030within the sector's middle half▲ 786%€149,176within the sector's middle half▼ 36.8%
Debt€17,673-€16,359▼ 7.4%€220,926▲ 1,251%€83,293▼ 62.3%
Working capital€29,026within the sector's middle half-€6,690within the sector's middle half▼ 77.0%€11,589within the sector's middle half▲ 73.2%€48,310within the sector's middle half▲ 317%
Solvency69.8%above the sector's middle half-38.6%within the sector's middle half▼ 31.2pp6.4%below the sector's middle half▼ 32.2pp44.2%within the sector's middle half▲ 37.8pp
Current ratio2.64within the sector's middle half-1.41within the sector's middle half▼ 1.231.05within the sector's middle half▼ 0.361.58within the sector's middle half▲ 0.53
Return on assets (ROA)52.7%above the sector's middle half--114.6%below the sector's middle half▼ 167.3pp2.0%within the sector's middle half▲ 116.6pp34.0%above the sector's middle half▲ 32.0pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
After the dip in 2021 the operating result has climbed two years in a row; 2023 is 1,084% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €149,176
Fixed assets
€17,574 ▲ 400%
Current assets
€131,603 ▼ 43.4%
Equity and liabilities €149,176
Equity
€65,883 ▲ 336%
Debt
€83,293 ▼ 62.3%
Debt's share of the balance-sheet total falls from 93.6% to 55.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€63,607▲
2022 · €8,241
Cash flow
€54,976▲
2022 · €8,034
Debt to equity
1.26▼
2022 · 14.63
ROE
77.1%▲
2022 · 31.9%
Interest coverage
59.00▲
2022 · 42.81
Debt ≤ 1 year
€83,293▼
2022 · €220,926
Income taxes
€7,578▲
2022 · €14
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,048 | €3,199 | €3,221 | €4,196 | ▲ 30.3% |
| Other operating charges640/8 | - | €2,030 | €348 | €661 | ▲ 90.1% |
| Non-recurring operating charges66A | - | €86 | €438 | - | - |
| Gross operating margin9900 | €53,031 | -€25,097 | €9,027 | €64,268 | ▲ 612% |
| Operating profit (loss)9901 | €42,114 | -€30,411 | €5,020 | €59,411 | ▲ 1,084% |
| Financial income75/76B | - | €0 | €0 | €25 | ▲ 84,267% |
| Recurring financial income75 | €15 | €0 | €0 | €25 | ▲ 84,267% |
| Financial charges65/66B | - | €123 | €193 | €1,078 | ▲ 460% |
| Recurring financial charges65 | €1,021 | €123 | €193 | €1,078 | ▲ 460% |
| Profit (loss) for the period before taxes9903 | €41,107 | -€30,534 | €4,827 | €58,358 | ▲ 1,109% |
| Income taxes67/77 | €10,283 | - | €14 | €7,578 | ▲ 54,340% |
| Profit (loss) for the period9904 | €30,825 | -€30,534 | €4,813 | €50,780 | ▲ 955% |
| Profit (loss) for the period to be appropriated9905 | €30,825 | -€30,534 | €4,813 | €50,780 | ▲ 955% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €58,498 | €26,649 | €236,030 | €149,176 | ▼ 36.8% |
| Formation expenses20 | - | €0 | - | - | - |
| Fixed assets21/28 | €11,799 | €3,600 | €3,514 | €17,574 | ▲ 400% |
| Intangible fixed assets21 | - | €0 | - | - | - |
| Tangible fixed assets22/27 | €11,705 | €3,506 | €1,441 | €15,501 | ▲ 975% |
| Plant, machinery and equipment23 | - | - | - | €2,138 | - |
| Furniture and vehicles24 | - | €3,506 | €1,441 | €13,363 | ▲ 827% |
| Financial fixed assets28 | €94 | €94 | €2,072 | €2,072 | = |
| Current assets29/58 | €46,699 | €23,049 | €232,516 | €131,603 | ▼ 43.4% |
| Amounts receivable within one year40/41 | €32,284 | €20,754 | €110,625 | €80,684 | ▼ 27.1% |
| Trade receivables40 | - | €4,235 | €82,963 | €71,655 | ▼ 13.6% |
| Other amounts receivable41 | - | €16,519 | €27,662 | €9,029 | ▼ 67.4% |
| Current investments50/53 | - | €2,294 | - | - | - |
| Cash at bank and in hand54/58 | €14,416 | - | €121,891 | €50,919 | ▼ 58.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €58,498 | €26,649 | €236,030 | €149,176 | ▼ 36.8% |
| Equity10/15 | €40,825 | €10,290 | €15,103 | €65,883 | ▲ 336% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €30,825 | €290 | €5,103 | €55,883 | ▲ 995% |
| Amounts payable17/49 | €17,673 | €16,359 | €220,926 | €83,293 | ▼ 62.3% |
| Amounts payable within one year42/48 | €17,673 | €16,359 | €220,926 | €83,293 | ▼ 62.3% |
| Trade debts44 | €5,838 | €6,076 | €73,607 | €72,518 | ▼ 1.5% |
| Suppliers440/4 | - | €6,076 | €73,607 | €72,518 | ▼ 1.5% |
| Advances received on contracts in progress46 | - | - | €116,068 | - | - |
| Taxes, remuneration and social security45 | - | €10,283 | €22,143 | €7,578 | ▼ 65.8% |
| Taxes450/3 | - | €10,283 | €20,943 | €7,578 | ▼ 63.8% |
| Remuneration and social security454/9 | - | - | €1,200 | - | - |
| Other amounts payable47/48 | - | - | €9,109 | €3,197 | ▼ 64.9% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,825 | -€30,534 | €4,813 | €50,780 | ▲ 955% |
| + Depreciation and write-downs630 | €9,048 | €3,199 | €3,221 | €4,196 | ▲ 30.3% |
| Operating cash flow (approximation) | €39,872 | -€27,335 | €8,034 | €54,976 | ▲ 584% |
| Investment in fixed assets (approximation) | - | €4,999 | -€3,135 | -€18,256 | ▼ 482% |
| Change in cash | - | - | - | -€70,972 | - |
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
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2020net €50,780 ▲955%
Operating result €59,411, net result €50,780, both a record.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €4,813
Net result €4,813 after one loss-making year.
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 88 days late
2021
31-12
Financial
Weakest financial yearnet -€30,534
Net result drops to -€30,534, the lowest in the series; recovery starts the following year.
17-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 78 days late
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Wavre · 1 establishment unit since 2019
Ground area
1.2 ha
Building footprint
1,358 m²
Volume, LiDAR
416 m³
2 parcels, Wallonia · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
NR KEYSTONE
since 20192.296.146.881
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006A0145/00M003 | Wallonia | 1.1 ha | 1 · 1,294 m² | - |
| 52069B0135/00F000 | Wallonia | 422 m² | 1 · 63 m² | 8.0 m · 2 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.
Similar companies · same sector, comparable size
CONSTRUCTION DELFORGE F
BE 0547.810.567
Sint-Pieters-Leeuw · Eq €65,876
ADRIAN CONSTRUCT
BE 0792.752.690
Dilbeek · Eq €65,851
Under The Roof
BE 0766.689.285
Herent · Eq €65,844
Inceptum M&M
BE 0792.492.176
Zedelgem · Eq €65,938
PISVIN FREDERIC CONSTRUCTION
BE 1016.879.902
Gedinne · Eq €65,960
Of 29,766 companies in this sector we hold annual accounts for 16,066. 13,230 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded19-11-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43240Other construction installation
43910Bricklaying and masonry work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0737838220
Also
9925:BE0737838220
Registered
02-06-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.