Qelvin
ActiveSummary
Qelvin has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2k and a net result of €-248. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 71% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▲+39
Solvency92▲+34
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check 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 · 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 →
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 2025Age of the figures
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 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 · 10 filingsDeviation from the deadline
2025
3 d late
2024
25 d late
2023
34 d early
2022
38 d early
2021
4 d early
2020
2 d early
2019
7 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€2k▼ 9.1%
2024 · €3k
2018: €1k
2019: €2k▲ +74.1% vs 2018
2020: €902▼ -56.1% vs 2019lowest in 8 years
2021: €7k▲ +625% vs 2020highest in 8 years
2022: €3k▼ -52.8% vs 2021
2023: €5k▲ +64.3% vs 2022
2024: €3k▼ -46.4% vs 2023
2025: €2k▼ -9.1% vs 2024
2018 → 2025
Total assets
€4k▼ 55.4%
2024 · €8k
2018: €9k
2019: €10k▲ +0.6% vs 2018
2020: €5k▼ -43.4% vs 2019
2021: €7k▲ +34.4% vs 2020
2022: €6k▼ -18.3% vs 2021
2023: €10k▲ +61.8% vs 2022highest in 8 years
2024: €8k▼ -13.0% vs 2023
2025: €4k▼ -55.4% vs 2024lowest in 8 years
2018 → 2025
Net result
€-248▲ 89.5%
2024 · €-2k
2018: €-2k
2019: €875▲ +138% vs 2018
2020: €-1k▼ -232% vs 2019
2021: €6k▲ +589% vs 2020highest in 8 years
2022: €-3k▼ -161% vs 2021lowest in 8 years
2023: €2k▲ +158% vs 2022
2024: €-2k▼ -219% vs 2023
2025: €-248▲ +89.5% vs 2024
2018 → 2025
Working capital
€2k▲ 28.3%
2024 · €1k
2018: €1k
2019: €579▼ -44.2% vs 2018
2020: €2▼ -99.6% vs 2019lowest in 8 years
2021: €6k▲ +244844% vs 2020highest in 8 years
2022: €3k▼ -54.3% vs 2021
2023: €4k▲ +37.7% vs 2022
2024: €1k▼ -60.9% vs 2023
2025: €2k▲ +28.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€7k-€3k▼ 52.8%€5k▲ 64.3%€3k▼ 46.4%€2k▼ 9.1%
2021: €7khighest in 5 years
2022: €3k▼ -52.8% vs 2021
2023: €5k▲ +64.3% vs 2022
2024: €3k▼ -46.4% vs 2023
2025: €2k▼ -9.1% vs 2024lowest in 5 years
Operating result€6k-€-3k€2k€-2k€-81▲ 96.2%
2021: €6khighest in 5 years
2022: €-3k▼ -159% vs 2021lowest in 5 years
2023: €2k▲ +167% vs 2022
2024: €-2k▼ -195% vs 2023
2025: €-81▲ +96.2% vs 2024
Net result€6k-€-3k€2k€-2k€-248▲ 89.5%
2021: €6khighest in 5 years
2022: €-3k▼ -161% vs 2021lowest in 5 years
2023: €2k▲ +158% vs 2022
2024: €-2k▼ -219% vs 2023
2025: €-248▲ +89.5% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €81 in 2025 against €2k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4k
Fixed assets
€571 ▼ 53.8%
Current assets
€3k ▼ 55.6%
Equity and liabilities €4k
Equity
€2k ▼ 9.1%
Debt
€1k ▼ 77.8%
Debt's share of the balance-sheet total falls from 67.3% to 33.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€585▲
2024 · €-1k
Cash flow
€419▲
2024 · €-2k
Interest coverage
3.48▲
2024 · -6.19
Debt ≤ 1 year
€1k▼
2024 · €6k
Ratios withheld: a balance sheet total of €4k is too small for a meaningful ratio.
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 · 34 lines
Balance sheet
Code20242025
Assets
Total assets20/58€8k€4k▼
Fixed assets21/28€1k€571▼
Tangible fixed assets22/27€1k€571▼
Plant, machinery and equipment23€1k€571▼
Current assets29/58€7k€3k▼
Amounts receivable within one year40/41€935€766▼
Trade receivables40€281€112▼
Other amounts receivable41€653€654▲
Cash at bank and in hand54/58€6k€2k▼
Deferred charges and accrued income490/1€210€686▲
Equity and liabilities
Total equity and liabilities10/49€8k€4k▼
Equity10/15€3k€2k▼
Contributions10/11€12k€12k=
Profit (loss) carried forward14€-10k€-10k▼
Amounts payable17/49€6k€1k▼
Amounts payable within one year42/48€6k€1k▼
Current portion of amounts payable after more than one year42€777-
Trade debts44€4k€1k▼
Suppliers440/4€4k€1k▼
Other amounts payable47/48€746-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€824€666▼
Other operating charges640/8€439€557▲
Non-recurring operating charges66A€3k-
Gross operating margin9900€2k€1k▼
Operating profit (loss)9901€-2k€-81▲
Financial income75/76B-€2
Recurring financial income75-€2
Financial charges65/66B€213€168▼
Recurring financial charges65€213€168▼
Profit (loss) for the period before taxes9903€-2k€-248▲
Profit (loss) for the period9904€-2k€-248▲
Profit (loss) for the period to be appropriated9905€-2k€-248▲
Appropriation of the result
Profit (loss) to be appropriated9906€-10k€-10k▼
Profit (loss) brought forward from the previous period14P€-7k€-10k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €921 | €179 | €274 | €824 | €666 | ▼ 19.1% |
| Other operating charges640/8 | €480 | €491 | €536 | €439 | €557 | ▲ 26.8% |
| Non-recurring operating charges66A | - | - | - | €3k | - | - |
| Gross operating margin9900 | €7k | €-3k | €3k | €2k | €1k | ▼ 33.8% |
| Operating profit (loss)9901 | €6k | €-3k | €2k | €-2k | €-81 | ▲ 96.2% |
| Financial income75/76B | €87 | €58 | €0 | - | €2 | - |
| Recurring financial income75 | €87 | €58 | €0 | - | €2 | - |
| Financial charges65/66B | €164 | €149 | €257 | €213 | €168 | ▼ 20.9% |
| Recurring financial charges65 | €164 | €149 | €257 | €213 | €168 | ▼ 20.9% |
| Profit (loss) for the period before taxes9903 | €6k | €-3k | €2k | €-2k | €-248 | ▲ 89.5% |
| Profit (loss) for the period9904 | €6k | €-3k | €2k | €-2k | €-248 | ▲ 89.5% |
| Profit (loss) for the period to be appropriated9905 | €6k | €-3k | €2k | €-2k | €-248 | ▲ 89.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7k | €6k | €10k | €8k | €4k | ▼ 55.4% |
| Fixed assets21/28 | €515 | €336 | €2k | €1k | €571 | ▼ 53.8% |
| Tangible fixed assets22/27 | €515 | €336 | €2k | €1k | €571 | ▼ 53.8% |
| Plant, machinery and equipment23 | €515 | €336 | €2k | €1k | €571 | ▼ 53.8% |
| Current assets29/58 | €7k | €6k | €8k | €7k | €3k | ▼ 55.6% |
| Amounts receivable within one year40/41 | €3k | €4k | €4k | €935 | €766 | ▼ 18.0% |
| Trade receivables40 | €3k | €3k | €4k | €281 | €112 | ▼ 60.2% |
| Other amounts receivable41 | €355 | €693 | €192 | €653 | €654 | ▲ 0.1% |
| Cash at bank and in hand54/58 | €4k | €2k | €3k | €6k | €2k | ▼ 71.5% |
| Deferred charges and accrued income490/1 | - | - | €886 | €210 | €686 | ▲ 226% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7k | €6k | €10k | €8k | €4k | ▼ 55.4% |
| Equity10/15 | €7k | €3k | €5k | €3k | €2k | ▼ 9.1% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Profit (loss) carried forward14 | €-6k | €-9k | €-7k | €-10k | €-10k | ▼ 2.6% |
| Amounts payable17/49 | €692 | €3k | €4k | €6k | €1k | ▼ 77.8% |
| Amounts payable after more than one year17 | - | - | €777 | - | - | - |
| Financial debts170/4 | - | - | €777 | - | - | - |
| Amounts payable within one year42/48 | €692 | €3k | €4k | €6k | €1k | ▼ 77.8% |
| Current portion of amounts payable after more than one year42 | - | - | €986 | €777 | - | - |
| Trade debts44 | €572 | €3k | €2k | €4k | €1k | ▼ 69.5% |
| Suppliers440/4 | €572 | €3k | €2k | €4k | €1k | ▼ 69.5% |
| Other amounts payable47/48 | €120 | - | €746 | €746 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €-3k | €2k | €-2k | €-248 | ▲ 89.5% |
| + Depreciation and write-downs630 | €921 | €179 | €274 | €824 | €666 | ▼ 19.1% |
| Operating cash flow (approximation) | €7k | €-3k | €2k | €-2k | €419 | ▲ 127% |
| Investment in fixed assets (approximation) | - | €0 | €-2k | €0 | €0 | - |
| Change in cash | - | €-2k | €703 | €3k | €-4k | ▼ 231% |
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
Next filing, fiscal year 2026, expected by
2026
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 3 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 2.53
Current ratio from 1.26 to 2.53; short-term debt falls from €6k to €1k.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
31-12
Financial
Liquidity times 10current ratio 9.71
Current ratio from 1.00 to 9.71; short-term debt falls from €4k to €692.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €875
Net result €875 after one loss-making year.
16-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 16 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-07
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.
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, Asse · 1 establishment unit since 2012
Ground area
416 m²
Building footprint
80 m²
Volume, LiDAR
458 m³
Parcel 23053A0404/00T000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Qelvin
since 20122.209.610.510
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23053A0404/00T000 | Flanders | 416 m² | 1 · 80 m² | 11.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,528 companies in sector 43222 we hold annual accounts for 5,663. 873 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)
Founded15-05-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
85592Vocational training
Scores and ratios are computed by Checked and are not a credit decision.