Checked.be
Active
BE 0843.860.705Private limited company
Q-SECURITY
Kapelsestraat 32 ·2950 Kapellen, Belgium· 14 yrs active
Sector: General electrical installation work
(43211)
Conclusion
Q-SECURITY has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21k and a net result of €-18k. Equity is shrinking by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 15% of 26547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €21k |
| Net result | €-18k |
| Staff (FTE) | 0.8 |
| Better than sector | 15% |
Financial profile
32
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
7
Profitability
0
Solvency
19
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2012, 14 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
7
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
36
2021
76
2022
45
2023
30
2024
7
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.98 (< 1.0)
-10
Leverage
Debt/equity 7.16 (> 3.0)
-10
Profitability
Negatieve ROE -84%
-10
Interest coverage
Interest coverage 0.6× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 09-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~48% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 12.3% | 47.4% | |
| Net result | €-18k | €10k | |
| Equity | €21k | €60k | |
| Gross operating margin | €14k | €39k | |
| Staff costs | €9k | €40k |
€3k
-79.4%
21-25
€-18k
-183.0%
21-25
€-2k
-
21-25
€171k
+3.5%
21-25
€21k
-45.6%
21-25
€-2k
-
21-25
1
-20.0%
21-25
€9k
-76.4%
21-25
€0
-100.0%
21-25
€0
-100.0%
21-25
€150k
+18.5%
21-25
€134k
+24.5%
21-25
€16k
-16.0%
21-25
0.98
-5.2%
21-25
0.66
+13.5%
21-25
12.3%
-47.4%
21-25
7.16
+117.6%
21-25
-83.7%
-419.8%
21-25
-10.3%
-173.3%
21-25
0.56
-80.6%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €3k | €15k | €15k | €44k | €9k |
| Net profit | €-18k | €-6k | €-3k | €26k | €540 |
| Cash flow | €-2k | €9k | €12k | €34k | €7k |
| Staff costs | €9k | - | - | €40k | €44k |
| Income taxes | €0 | €3 | €218 | €7k | €243 |
| Dividends | - | €0 | €800 | €2k | €2k |
| Total assets | €171k | €165k | €144k | €189k | €116k |
| Equity | €21k | €38k | €45k | €48k | €23k |
| Debt | €150k | €126k | €99k | €141k | €92k |
| of which ≤ 1y | €134k | €108k | €87k | €118k | €90k |
| of which > 1y | €16k | €19k | €12k | €16k | €3k |
| Working capital | €-2k | €4k | €8k | €14k | €-3k |
| Employees (FTE) | 0.8 | - | - | 1.0 | 1.0 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.98 | 1.04 | 1.09 | 1.12 | 0.96 |
| Quick ratio | 0.66 | 0.58 | 0.50 | 0.57 | 0.45 |
| Working capital ratio | -1.2% | 2.6% | 5.4% | 7.3% | -2.9% |
| Solvency | 12.3% | 23.3% | 31.0% | 25.3% | 20.2% |
| Debt / equity | 7.16 | 3.29 | 2.23 | 2.95 | 3.96 |
| Long-term debt ratio | 0.75 | 0.49 | 0.27 | 0.33 | 0.12 |
| Interest coverage | 0.56 | 2.88 | 4.63 | 14.62 | 5.65 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -10.3% | -3.8% | -1.8% | 13.9% | 0.5% |
| ROE | -83.7% | -16.1% | -5.7% | 54.7% | 2.3% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €171k | €165k | €144k | €189k | €116k |
| Fixed assets | 21/28 | €39k | €53k | €49k | €58k | €29k |
| Intangible fixed assets | 21 | €12k | €15k | €20k | €26k | €25k |
| Tangible fixed assets | 22/27 | €27k | €38k | €28k | €32k | €4k |
| Current assets | 29/58 | €132k | €112k | €95k | €131k | €86k |
| Stocks & contracts in progress | 3 | €44k | €49k | €51k | €64k | €46k |
| Amounts receivable within one year | 40/41 | €42k | €41k | €23k | €34k | €33k |
| Investments | 50/53 | - | €0 | €13k | €4k | €2 |
| Cash & bank | 54/58 | €38k | €15k | - | €21k | €906 |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €171k | €165k | €144k | €189k | €116k |
| Equity | 10/15 | €21k | €38k | €45k | €48k | €23k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k | €12k |
| Reserves | 13 | €14k | €26k | €32k | €36k | €11k |
| Accumulated profits (losses) | 14 | €-6k | €0 | - | - | - |
| Amounts payable | 17/49 | €150k | €126k | €99k | €141k | €92k |
| Amounts payable after one year | 17 | €16k | €19k | €12k | €16k | €3k |
| Amounts payable within one year | 42/48 | €134k | €108k | €87k | €118k | €90k |
| Trade debts payable within one year | 44 | €52k | €35k | €33k | €68k | €43k |
| Income statement | ||||||
| Gross operating margin | 9900 | €14k | €16k | €16k | €85k | €54k |
| Operating result | 9901 | €-12k | €-1k | €922 | €36k | €2k |
| Financial income | 75 | €31 | €11 | €7 | €283 | €1 |
| Financial charges | 65 | €5k | €5k | €3k | €3k | €2k |
| Result before taxes | 9903 | €-18k | €-6k | €-2k | €33k | €783 |
| Income taxes | 67/77 | €0 | €3 | €218 | €7k | €243 |
| Net result for the period | 9904 | €-18k | €-6k | €-3k | €26k | €540 |
| Result to be appropriated | 9905 | €-18k | €-6k | €-3k | €26k | €540 |
Legal Structure
| NACE primary | General electrical installation work(43211) |
| Legal form | Private limited company(610) |
| Incorporation | 21-02-2012 |
| Status | Active |
| Postal code | 2950 |
Ownership & control
Q-SECURITYBE 0843.860.705
controls
Where this company holds controlthis company sits on their board1
1 location
Establishment units
Q-SECURITY
since 20122.207.351.893
Christiaan Pallemansstraat 35, 2950 Kapellen
since 20202.310.514.363
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902E0218/00K000 | Flanders | 410 m² | 1 · 160 m² | 13.7 m · 1 fl. |
| 11902E0308/00W005 | Flanders | 318 m² | 1 · 112 m² | 11.2 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2021net €26k ▲4757%
Operating result €36k, net result €26k, both a record.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General electrical installation work43211
Names & trade names
| Legal nameNL | Q-SECURITY |
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