OLSEN ENGINEERING
ActiveSummary
The computed 12-month bankruptcy probability of OLSEN ENGINEERING is 2.0% (moderate). The 2024 annual accounts show equity of €725,215 and a net result of €393,411. Equity is growing by ~35.9% per year across the filed fiscal years. Its solvency ranks better than 12% of 316 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability77▼-2
Solvency37▲+3
Growth78=
Track record94
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.05 against 1.07 in 2023; short-term debt: 70.6% and cash: 5% of total assets), and 88% of the assets are financed with debt.
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Signals
Six 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
12%
Return on assets
6.5%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 316 sector peers (2024).
NBB · sector comparisonPosition among 316 sector peers
Solvency
better than 12%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-10-2025, 62 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
62 d late
2023
56 d late
2022
102 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 73 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€393,411▼ 23.3%
2023 · €513,137
Working capital
€224,615▼ 32.3%
2023 · €331,865
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202220232024
Operating result€415,096-€660,482▲ 59.1%€506,533▼ 23.3%
Net result€277,668-€513,137▲ 84.8%€393,411▼ 23.3%
Equity€326,668-€555,804▲ 70.1%€725,215▲ 30.5%
Total assets€6.0m-€6.4m▲ 6.7%€6.1m▼ 4.9%
Debt€5.6m-€5.8m▲ 3.0%€5.3m▼ 8.2%
Working capital€588,535-€331,865▼ 43.6%€224,615▼ 32.3%
Staff (FTE)22.1-31▲ 40.3%34.4▲ 11.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 23% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.1m
Fixed assets
€1.6m ▲ 4.3%
Current assets
€4.5m ▼ 7.7%
Equity and liabilities €6.1m
Equity
€725,215 ▲ 30.5%
Debt
€5.3m ▼ 8.2%
Debt's share of the balance-sheet total falls from 91.3% to 88.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€810,269▼
2023 · €917,714
Cash flow
€697,147▼
2023 · €770,368
Current ratio
1.05▼
2023 · 1.07
Quick ratio
0.43▼
2023 · 0.54
Debt to equity
7.35▼
2023 · 10.45
ROE
54.2%▼
2023 · 92.3%
ROA
6.5%▼
2023 · 8.1%
Interest coverage
33.30▼
2023 · 49.61
Debt ≤ 1 year
€4.3m▼
2023 · €4.5m
Debt > 1 year
€1.0m▼
2023 · €1.2m
Income taxes
€91,069▼
2023 · €131,404
Staff costs
€2.4m▲
2023 · €2.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €5,853 | - |
| Remuneration, social security and pensions62 | €1.5m | €2.1m | €2.4m | ▲ 16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €222,893 | €257,231 | €303,737 | ▲ 18.1% |
| Other operating charges640/8 | €10,486 | €25,721 | €16,385 | ▼ 36.3% |
| Gross operating margin9900 | €2.2m | €3.0m | €3.3m | ▲ 7.3% |
| Operating profit (loss)9901 | €415,096 | €660,482 | €506,533 | ▼ 23.3% |
| Financial income75/76B | - | €2,555 | €2,785 | ▲ 9.0% |
| Recurring financial income75 | - | €2,555 | €2,785 | ▲ 9.0% |
| Financial charges65/66B | €29,340 | €18,497 | €24,839 | ▲ 34.3% |
| Recurring financial charges65 | €28,799 | €18,497 | €24,336 | ▲ 31.6% |
| Non-recurring financial charges66B | €542 | - | €503 | - |
| Profit (loss) for the period before taxes9903 | €385,755 | €644,540 | €484,479 | ▼ 24.8% |
| Income taxes67/77 | €108,088 | €131,404 | €91,069 | ▼ 30.7% |
| Profit (loss) for the period9904 | €277,668 | €513,137 | €393,411 | ▼ 23.3% |
| Transfer to tax-exempt reserves689 | - | €105,250 | €84,200 | ▼ 20.0% |
| Profit (loss) for the period to be appropriated9905 | €277,668 | €407,887 | €309,211 | ▼ 24.2% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €6.0m | €6.4m | €6.1m | ▼ 4.9% |
| Fixed assets21/28 | €1.3m | €1.5m | €1.6m | ▲ 4.3% |
| Intangible fixed assets21 | €848,306 | €754,050 | €662,478 | ▼ 12.1% |
| Tangible fixed assets22/27 | €460,801 | €416,028 | €571,839 | ▲ 37.5% |
| Land and buildings22 | €86,400 | €102,461 | €112,241 | ▲ 9.5% |
| Plant, machinery and equipment23 | €69,260 | €65,987 | €114,897 | ▲ 74.1% |
| Furniture and vehicles24 | €305,141 | €247,579 | €344,702 | ▲ 39.2% |
| Financial fixed assets28 | - | €320,000 | €320,000 | = |
| Current assets29/58 | €4.7m | €4.9m | €4.5m | ▼ 7.7% |
| Stocks and contracts in progress3 | €1.6m | €2.4m | €2.6m | ▲ 8.5% |
| Stocks30/36 | €182,493 | €517,157 | €689,099 | ▲ 33.2% |
| Contracts in progress37 | €1.4m | €1.9m | €2.0m | ▲ 1.8% |
| Amounts receivable within one year40/41 | €2.6m | €1.5m | €1.5m | ▼ 4.1% |
| Trade receivables40 | €2.6m | €1.5m | €1.5m | ▼ 3.1% |
| Other amounts receivable41 | €22,581 | €31,710 | €16,565 | ▼ 47.8% |
| Cash at bank and in hand54/58 | €403,598 | €826,139 | €303,343 | ▼ 63.3% |
| Deferred charges and accrued income490/1 | €36,002 | €77,519 | €81,712 | ▲ 5.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €6.0m | €6.4m | €6.1m | ▼ 4.9% |
| Equity10/15 | €326,668 | €555,804 | €725,215 | ▲ 30.5% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | - | €105,250 | €189,450 | ▲ 80.0% |
| Tax-exempt reserves132 | - | €105,250 | €189,450 | ▲ 80.0% |
| Profit (loss) carried forward14 | €226,668 | €350,554 | €435,765 | ▲ 24.3% |
| Amounts payable17/49 | €5.6m | €5.8m | €5.3m | ▼ 8.2% |
| Amounts payable after more than one year17 | €1.5m | €1.2m | €1.0m | ▼ 16.8% |
| Financial debts170/4 | €1.5m | €1.2m | €1.0m | ▼ 16.8% |
| Amounts payable within one year42/48 | €4.1m | €4.5m | €4.3m | ▼ 5.9% |
| Current portion of amounts payable after more than one year42 | €335,024 | €314,905 | €344,348 | ▲ 9.3% |
| Trade debts44 | €867,021 | €1.5m | €958,090 | ▼ 36.2% |
| Suppliers440/4 | €867,021 | €1.5m | €958,090 | ▼ 36.2% |
| Advances received on contracts in progress46 | €1.8m | €1.4m | €1.6m | ▲ 10.9% |
| Taxes, remuneration and social security45 | €307,458 | €327,311 | €262,015 | ▼ 19.9% |
| Taxes450/3 | €135,423 | €70,457 | €1,918 | ▼ 97.3% |
| Remuneration and social security454/9 | €172,035 | €256,854 | €260,097 | ▲ 1.3% |
| Other amounts payable47/48 | €767,999 | €980,189 | €1.1m | ▲ 16.1% |
| Accrued charges and deferred income492/3 | €21,822 | €31,890 | €26,938 | ▼ 15.5% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €277,668 | €513,137 | €393,411 | ▼ 23.3% |
| + Depreciation and write-downs630 | €222,893 | €257,231 | €303,737 | ▲ 18.1% |
| Operating cash flow (approximation) | €500,561 | €770,368 | €697,147 | ▼ 9.5% |
| Investment in fixed assets (approximation) | - | -€438,202 | -€367,976 | ▲ 16.0% |
| Change in cash | - | €422,541 | -€522,796 | ▼ 224% |
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
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 62 days late
2024
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 56 days late
2023
31-12
Financial
Highest result since 2022net €513,137 ▲84.8%
Operating result €660,482, net result €513,137, both a record.
31-12
Financial
Equity above €500,000Eq €555,804 ▲70.1%
2 profitable years in a row build equity to €555,804.
10-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 102 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Dison · 2 establishment units since 2022
Ground area
2.5 ha
Building footprint
1,601 m²
Volume, LiDAR
12,784 m³
2 parcels, Wallonia · tallest building 9.2 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Olsen Engineering (Liège)
since 20222.325.495.222
Olsen Engineering (Charleroi)
since 20222.325.495.816
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63002A0099/00H000 | Wallonia | 2.1 ha | 1 · 176 m² | 7.9 m · 2 fl. |
| 52049C0878/00R003 | Wallonia | 4,365 m² | 1 · 1,425 m² | 9.2 m · 3 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 268 companies in sector 28220 we hold annual accounts for 231. 180 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
Founded15-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
28220Manufacture of machinery and equipment not elsewhere classified
33200Installation of industrial machinery and equipment
46644Wholesale trade
74999Other professional, scientific and technical activities
Contact
Scores and ratios are computed by Checked and are not a credit decision.