NSA Projects
ActiveSummary
NSA Projects has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €114k and a net result of €33k. Equity is growing by ~28.4% per year across the filed fiscal years. Its solvency ranks better than 50% of 1901 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
85
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability89▲+4
Solvency81▲+1
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 2.08 against 2.19 in 2024; short-term debt: 44.4% and cash: 40.6% of total assets), and 44.4% of the assets are financed with debt.
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
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 63
Relative position
BE, all sectors
reference
Sector 63
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
55.6%
Return on assets
15.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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
27 d late
2024
28 d late
2023
30 d late
2022
28 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€114k▼ 2.1%
2024 · €117k
2022: €35k
2023: €86k
2024: €117k
2022 → 2025
Total assets
€206k▼ 3.0%
2024 · €212k
2022: €100k
2023: €236k
2024: €212k
2022 → 2025
Net result
€33k▲ 17.6%
2024 · €28k
2022: €30k
2023: €51k
2024: €28k
2022 → 2025
Working capital
€99k▼ 7.1%
2024 · €106k
2022: €14k
2023: €66k
2024: €106k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€35k-€86k▲ 145%€117k▲ 35.6%€114k▼ 2.1%
Operating result€41k-€70k▲ 73.2%€36k▼ 48.9%€42k▲ 17.2%
Net result€30k-€51k▲ 68.6%€28k▼ 45.8%€33k▲ 17.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 17% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €206k
Fixed assets
€16k ▼ 7.4%
Current assets
€190k ▼ 2.7%
Equity and liabilities €206k
Equity
€114k ▼ 2.1%
Debt
€91k ▼ 4.1%
Debt's share of the balance-sheet total falls from 44.9% to 44.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€46k▲
2024 · €40k
Cash flow
€36k▲
2024 · €32k
Current ratio
2.08▼
2024 · 2.19
Debt to equity
0.80▼
2024 · 0.81
ROE
28.4%▲
2024 · 23.7%
ROA
15.8%▲
2024 · 13.0%
Interest coverage
83.79▼
2024 · 96.81
Debt ≤ 1 year
€91k▲
2024 · €89k
Income taxes
€9k▼
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€212k€206k▼
Fixed assets21/28€17k€16k▼
Tangible fixed assets22/27€17k€16k▼
Land and buildings22€1k€1k▼
Plant, machinery and equipment23€15k€14k▼
Furniture and vehicles24€641€433▼
Current assets29/58€195k€190k▼
Stocks and contracts in progress3€8k-
Stocks30/36€8k-
Amounts receivable within one year40/41€152k€106k▼
Trade receivables40€148k€97k▼
Other amounts receivable41€4k€10k▲
Cash at bank and in hand54/58€35k€83k▲
Equity and liabilities
Total equity and liabilities10/49€212k€206k▼
Equity10/15€117k€114k▼
Contributions10/11€5k€5k=
Reserves13€108k€108k=
Distributable reserves133€108k€108k=
Profit (loss) carried forward14€4k€1k▼
Amounts payable17/49€95k€91k▼
Amounts payable after more than one year17€6k-
Financial debts170/4€6k-
Amounts payable within one year42/48€89k€91k▲
Current portion of amounts payable after more than one year42-€8k
Trade debts44€29k€8k▼
Suppliers440/4€29k€8k▼
Taxes, remuneration and social security45€34k€16k▼
Taxes450/3€31k€13k▼
Remuneration and social security454/9€3k€3k=
Other amounts payable47/48€26k€60k▲
Income statement
Code20242025
Remuneration, social security and pensions62€2k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼
Other operating charges640/8€1k€943▼
Gross operating margin9900€43k€47k▲
Operating profit (loss)9901€36k€42k▲
Financial income75/76B€4k-
Recurring financial income75€4k-
Financial charges65/66B€411€548▲
Recurring financial charges65€411€548▲
Profit (loss) for the period before taxes9903€39k€41k▲
Income taxes67/77€11k€9k▼
Profit (loss) for the period9904€28k€33k▲
Profit (loss) for the period to be appropriated9905€28k€33k▲
Appropriation of the result
Profit (loss) to be appropriated9906€29k€36k▲
Profit (loss) brought forward from the previous period14P€1k€4k▲
Transfer to equity691/2€25k-
To other reserves6921€25k-
Profit to be distributed694/7-€35k
Return on contributions (dividend)694-€35k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €28k ▼45.8%
Net result drops to €28k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100kEq €117k ▲35.6%
3 profitable years in a row build equity to €117k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2022net €51k ▲68.6%
Operating result €70k, net result €51k, both a record.
28-08
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, Hasselt · 1 establishment unit since 2021
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.
Crutzenstraat 983511 HasseltGround area
502 m²
Building footprint
87 m²
Volume, LiDAR
664 m³
Parcel 71032B0069/00Z000, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
NSA Projects
since 20212.325.699.417
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71032B0069/00Z000 | Flanders | 502 m² | 1 · 87 m² | 10.6 m · 3 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.
Similar companies · same sector, comparable size
W.D.HS
BE 0791.927.695
Deerlijk · Eq €114,428
K&S INVEST
BE 0835.211.174
Tongeren-Borgloon · Eq €114,205
VDK C&E B.V.
BE 0747.507.932
Kalmthout · Eq €114,738
RikOdl-Advies
BE 0776.336.035
Dendermonde · Eq €114,019
Tresius
BE 0849.273.206
Waasmunster · Eq €114,807
Of 3,152 companies in sector 63920 we hold annual accounts for 1,523. 1,252 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
Founded06-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
63920Other information service activities
66110Activities auxiliary to financial services and insurance activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.