PSD GROUP
ActiveSummary
The computed 12-month bankruptcy probability of PSD GROUP is 2.4% (moderate). The 2024 annual accounts show equity of €1.5m and a net result of €880,669. Equity is growing by ~48.4% per year across the filed fiscal years. Its solvency ranks better than 94% of 3557 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 6.0 against 4.72 in 2023; short-term debt: 15.4% and cash: 42.7% of total assets), and 15.4% 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 · 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 →
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
84.6%
Return on assets
48.4%
Age of the figures
21 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
1 d early
2022
144 d late
2021
75 d late
2020
90 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 67 days after 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 (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
€880,669▲ 50.1%
2023 · €586,901
Working capital
€1.4m▲ 10.8%
2023 · €1.3m
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
Line20202021202220232024
Operating result€63,584▲ 440%€511,821▲ 705%€329,390▼ 35.6%€958,739▲ 191%€1.2m▲ 28.3%
Net result€62,680above the sector's middle half▲ 435%€496,223above the sector's middle half▲ 692%€328,868above the sector's middle half▼ 33.7%€586,901above the sector's middle half▲ 78.5%€880,669above the sector's middle half▲ 50.1%
Equity€93,006within the sector's middle half▲ 207%€589,229above the sector's middle half▲ 534%€718,097above the sector's middle half▲ 21.9%€1.3mabove the sector's middle half▲ 81.7%€1.5mabove the sector's middle half▲ 17.9%
Total assets€562,664above the sector's middle half▲ 127%€715,787above the sector's middle half▲ 27.2%€1.3mwithin the sector's middle half▲ 82.7%€1.6mwithin the sector's middle half▲ 25.8%€1.8mwithin the sector's middle half▲ 10.6%
Debt€469,658▲ 115%€126,558▼ 73.1%€589,646▲ 366%€340,406▼ 42.3%€280,421▼ 17.6%
Working capital€84,506within the sector's middle half▲ 179%€583,729above the sector's middle half▲ 591%€644,941above the sector's middle half▲ 10.5%€1.3mabove the sector's middle half▲ 96.3%€1.4mabove the sector's middle half▲ 10.8%
Solvency16.5%below the sector's middle half▲ 4.3pp82.3%above the sector's middle half▲ 65.8pp54.9%within the sector's middle half▼ 27.4pp79.3%above the sector's middle half▲ 24.4pp84.6%above the sector's middle half▲ 5.3pp
Current ratio1.18within the sector's middle half▲ 0.045.61above the sector's middle half▲ 4.432.09within the sector's middle half▼ 3.524.72above the sector's middle half▲ 2.626.00above the sector's middle half▲ 1.28
Return on assets (ROA)11.1%within the sector's middle half▲ 6.4pp69.3%above the sector's middle half▲ 58.2pp25.1%above the sector's middle half▼ 44.2pp35.7%above the sector's middle half▲ 10.5pp48.4%above the sector's middle half▲ 12.7pp
Staff (FTE)1within the sector's middle half3.7▲ 270%6.5within the sector's middle half7.8within the sector's middle half▲ 20.0%
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.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 28% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.8m
Fixed assets
€135,618 ▲ 246%
Current assets
€1.7m ▲ 4.8%
Equity and liabilities €1.8m
Equity
€1.5m ▲ 17.9%
Debt
€280,421 ▼ 17.6%
Debt's share of the balance-sheet total falls from 20.7% to 15.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.3m▲
2023 · €994,421
Cash flow
€923,921▲
2023 · €622,584
Debt to equity
0.18▼
2023 · 0.26
ROE
57.2%▲
2023 · 45.0%
Interest coverage
1629.63▲
2023 · 1329.46
Debt ≤ 1 year
€280,421▼
2023 · €340,406
Income taxes
€349,288▼
2023 · €372,814
Staff costs
€211,290▼
2023 · €235,023
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 26,975 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €121,141 | €177,046 | €235,023 | €211,290 | ▼ 10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €500 | €3,000 | €44,848 | €35,683 | €43,252 | ▲ 21.2% |
| Other operating charges640/8 | - | €3,270 | €31,700 | €6,709 | €2,643 | ▼ 60.6% |
| Gross operating margin9900 | €149,620 | €639,232 | €582,984 | €1.2m | €1.5m | ▲ 20.3% |
| Operating profit (loss)9901 | €63,584 | €511,821 | €329,390 | €958,739 | €1.2m | ▲ 28.3% |
| Financial income75/76B | - | €10 | - | €1,724 | €872 | ▼ 49.4% |
| Recurring financial income75 | €0 | €10 | - | €1,724 | €872 | ▼ 49.4% |
| Financial charges65/66B | - | €556 | €522 | €748 | €781 | ▲ 4.4% |
| Recurring financial charges65 | €904 | €556 | €522 | €748 | €781 | ▲ 4.4% |
| Profit (loss) for the period before taxes9903 | €62,680 | €511,276 | €328,868 | €959,715 | €1.2m | ▲ 28.2% |
| Income taxes67/77 | - | €15,053 | - | €372,814 | €349,288 | ▼ 6.3% |
| Profit (loss) for the period9904 | €62,680 | €496,223 | €328,868 | €586,901 | €880,669 | ▲ 50.1% |
| Profit (loss) for the period to be appropriated9905 | €62,680 | €496,223 | €328,868 | €586,901 | €880,669 | ▲ 50.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €562,664 | €715,787 | €1.3m | €1.6m | €1.8m | ▲ 10.6% |
| Fixed assets21/28 | €8,500 | €5,500 | €73,156 | €39,194 | €135,618 | ▲ 246% |
| Tangible fixed assets22/27 | €8,500 | €5,500 | €73,156 | €39,194 | €135,618 | ▲ 246% |
| Plant, machinery and equipment23 | - | - | - | - | €1,282 | - |
| Furniture and vehicles24 | - | €5,500 | €73,156 | €39,194 | €134,336 | ▲ 243% |
| Current assets29/58 | €554,164 | €710,287 | €1.2m | €1.6m | €1.7m | ▲ 4.8% |
| Amounts receivable within one year40/41 | €439,467 | €449,654 | €650,371 | €846,748 | €906,520 | ▲ 7.1% |
| Trade receivables40 | - | €436,492 | €645,879 | €836,579 | €889,103 | ▲ 6.3% |
| Other amounts receivable41 | - | €13,162 | €4,492 | €10,169 | €17,417 | ▲ 71.3% |
| Cash at bank and in hand54/58 | €114,697 | €260,633 | €584,216 | €758,539 | €776,891 | ▲ 2.4% |
| Deferred charges and accrued income490/1 | - | - | - | €922 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €562,664 | €715,787 | €1.3m | €1.6m | €1.8m | ▲ 10.6% |
| Equity10/15 | €93,006 | €589,229 | €718,097 | €1.3m | €1.5m | ▲ 17.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | - | - | - | - |
| Issued capital100 | - | €18,600 | - | - | - | - |
| Outside capital11 | - | - | €18,600 | - | - | - |
| Other1109/19 | - | - | €18,600 | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €72,546 | €568,769 | €697,637 | €1.3m | €1.5m | ▲ 18.2% |
| Amounts payable17/49 | €469,658 | €126,558 | €589,646 | €340,406 | €280,421 | ▼ 17.6% |
| Amounts payable within one year42/48 | €469,658 | €126,558 | €589,646 | €340,406 | €280,421 | ▼ 17.6% |
| Financial debts43 | - | - | €3,603 | - | - | - |
| Credit institutions430/8 | - | - | €3,603 | - | - | - |
| Trade debts44 | €431,578 | €78,526 | €210,557 | - | €64,269 | - |
| Suppliers440/4 | - | €78,526 | €210,557 | - | €64,269 | - |
| Advances received on contracts in progress46 | - | €28,443 | €38,789 | - | - | - |
| Taxes, remuneration and social security45 | - | €19,588 | €136,697 | €340,406 | €216,151 | ▼ 36.5% |
| Taxes450/3 | - | €7,055 | €72,638 | €235,853 | €203,498 | ▼ 13.7% |
| Remuneration and social security454/9 | - | €12,533 | €64,059 | €104,553 | €12,654 | ▼ 87.9% |
| Other amounts payable47/48 | - | - | €200,000 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €62,680 | €496,223 | €328,868 | €586,901 | €880,669 | ▲ 50.1% |
| + Depreciation and write-downs630 | €500 | €3,000 | €44,848 | €35,683 | €43,252 | ▲ 21.2% |
| Operating cash flow (approximation) | €63,180 | €499,223 | €373,716 | €622,584 | €923,921 | ▲ 48.4% |
| Investment in fixed assets (approximation) | - | €0 | -€112,504 | -€1,721 | -€139,675 | ▼ 8,014% |
| Change in cash | - | €145,936 | €323,583 | €174,323 | €18,352 | ▼ 89.5% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2019net €880,669 ▲50.1%
Operating result €1.2m, net result €880,669, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity doublescurrent ratio 4.72
Current ratio from 2.09 to 4.72; short-term debt falls from €589,646 to €340,406.
31-12
Financial
Equity above €1mEq €1.3m ▲81.7%
5 profitable years in a row build equity to €1.3m.
22-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 144 days late
2022
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 75 days late
2021
31-12
Financial
Liquidity times 5current ratio 5.61
Current ratio from 1.18 to 5.61; short-term debt falls from €469,658 to €126,558.
31-12
Financial
Equity above €500,000Eq €589,229 ▲534%
3 profitable years in a row build equity to €589,229.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 90 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 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, Anderlecht · 2 establishment units since 2018
Ground area
3,523 m²
Building footprint
520 m²
Volume, LiDAR
17,002 m³
2 parcels, Brussels, Flanders · tallest building 52.2 m, ±16 floors. Linked by address, not a title deed.
143
companies at this address
See who is registered here
2 establishment units
PSD GROUP
since 20182.279.960.848
Ninoofsesteenweg 535, 1701 Dilbeek
since 20242.364.400.833
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23037B0045/00F000 | Flanders | 2,726 m² | 1 · 187 m² | 12.1 m · 1 fl. |
| 21308H0298/00G000 | Brussels | 797 m² | 1 · 333 m² | 52.2 m · 16 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 9,537 companies in sector 43222 we hold annual accounts for 5,668. 2,442 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 (pre-2019)
Founded14-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0704610869
Registered
28-05-2026
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.