QS LOGISTICS
ActiveSummary
QS LOGISTICS has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.10M and a net result of €199k. Equity is growing by ~55.5% per year across the filed fiscal years. Its solvency ranks better than 29% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▼-19
Solvency42▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity short (current ratio 0.91 against 0.95 in 2024; short-term debt: 63.2% and cash: 0.1% of total assets), and 83.5% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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 2025Solvency, return and age of the figures
Solvency
16.5%
Return on assets
3%
Age of the figures
13 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-08-2025 was due by 31-03-2026 and was filed on 26-03-2026, 5 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
5 d early
2024
17 d early
2023
34 d early
2022
28 d early
2021
20 d early
2020
22 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-08-2026 and is due by 31-03-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-08-2026 close25-09-2026 today31-03-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€199k▼ 32.9%
2024 · €296k
Working capital
€-357k▼ 41.2%
2024 · €-253k
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
Line20212022202320242025
Operating result€28k▼ 84.7%€322k▲ 1,051%€477k▲ 47.9%€577k▲ 20.9%€511k▼ 11.4%
Net result€-56k€208k€310k▲ 49.5%€296k▼ 4.6%€199k▼ 32.9%
Equity€83k▼ 40.0%€291k▲ 249%€602k▲ 107%€898k▲ 49.2%€1.10M▲ 22.1%
Total assets€4.65M▼ 10.1%€4.26M▼ 8.3%€4.03M▼ 5.6%€7.72M▲ 91.7%€6.63M▼ 14.1%
Debt€4.57M▼ 9.3%€3.97M▼ 13.0%€3.43M▼ 13.8%€6.82M▲ 99.2%€5.54M▼ 18.9%
Working capital€-438k▲ 43.9%€-447k▼ 1.9%€-353k▲ 21.0%€-253k▲ 28.4%€-357k▼ 41.2%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 11% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.63M
Fixed assets
€2.80M ▼ 10.4%
Current assets
€3.83M ▼ 16.6%
Equity and liabilities €6.63M
Equity
€1.10M ▲ 22.1%
Debt
€5.54M ▼ 18.9%
Debt's share of the balance-sheet total falls from 88.4% to 83.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€895k▼
2024 · €957k
Cash flow
€583k▼
2024 · €677k
Current ratio
0.91▼
2024 · 0.95
Debt to equity
5.05▼
2024 · 7.60
ROE
18.1%▼
2024 · 33.0%
ROA
3.0%▼
2024 · 3.8%
Interest coverage
3.61▼
2024 · 5.82
Debt ≤ 1 year
€4.19M▼
2024 · €4.85M
Debt > 1 year
€1.35M▼
2024 · €1.95M
Income taxes
€66k▼
2024 · €116k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €813 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €541k | €379k | €380k | €381k | €384k | ▲ 1.0% |
| Other operating charges640/8 | - | €43k | €69k | €73k | €76k | ▲ 3.4% |
| Gross operating margin9900 | €543k | €744k | €926k | €1.03M | €971k | ▼ 5.8% |
| Operating profit (loss)9901 | €28k | €322k | €477k | €577k | €511k | ▼ 11.4% |
| Financial income75/76B | - | - | - | €0 | €3k | ▲ 25,059,900% |
| Recurring financial income75 | - | - | - | €0 | €3k | ▲ 25,059,900% |
| Financial charges65/66B | - | €61k | €79k | €165k | €248k | ▲ 50.9% |
| Recurring financial charges65 | €82k | €61k | €79k | €165k | €248k | ▲ 50.9% |
| Profit (loss) for the period before taxes9903 | €-54k | €261k | €398k | €412k | €265k | ▼ 35.7% |
| Income taxes67/77 | €1k | €53k | €87k | €116k | €66k | ▼ 42.8% |
| Profit (loss) for the period9904 | €-56k | €208k | €310k | €296k | €199k | ▼ 32.9% |
| Profit (loss) for the period to be appropriated9905 | €-56k | €208k | €310k | €296k | €199k | ▼ 32.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.65M | €4.26M | €4.03M | €7.72M | €6.63M | ▼ 14.1% |
| Fixed assets21/28 | €4.23M | €3.87M | €3.50M | €3.12M | €2.80M | ▼ 10.4% |
| Tangible fixed assets22/27 | €4.23M | €3.87M | €3.50M | €3.12M | €2.80M | ▼ 10.4% |
| Land and buildings22 | - | €3.84M | €3.47M | €3.09M | €2.76M | ▼ 10.7% |
| Other tangible fixed assets26 | - | €27k | €33k | €34k | €37k | ▲ 9.2% |
| Current assets29/58 | €427k | €398k | €528k | €4.60M | €3.83M | ▼ 16.6% |
| Amounts receivable within one year40/41 | €386k | €327k | €451k | €4.56M | €3.80M | ▼ 16.6% |
| Trade receivables40 | - | €125k | €161k | €104k | €149k | ▲ 44.1% |
| Other amounts receivable41 | - | €202k | €290k | €4.46M | €3.65M | ▼ 18.1% |
| Cash at bank and in hand54/58 | €39k | €48k | €52k | €10k | €5k | ▼ 47.4% |
| Deferred charges and accrued income490/1 | - | €23k | €25k | €26k | €27k | ▲ 4.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.65M | €4.26M | €4.03M | €7.72M | €6.63M | ▼ 14.1% |
| Equity10/15 | €83k | €291k | €602k | €898k | €1.10M | ▲ 22.1% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €8k | €8k | €8k | €8k | €8k | = |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €14k | €221k | €532k | €828k | €1.03M | ▲ 24.0% |
| Amounts payable17/49 | €4.57M | €3.97M | €3.43M | €6.82M | €5.54M | ▼ 18.9% |
| Amounts payable after more than one year17 | €3.70M | €3.13M | €2.54M | €1.95M | €1.35M | ▼ 31.0% |
| Financial debts170/4 | - | €3.13M | €2.54M | €1.95M | €1.35M | ▼ 31.0% |
| Amounts payable within one year42/48 | €865k | €844k | €881k | €4.85M | €4.19M | ▼ 13.6% |
| Current portion of amounts payable after more than one year42 | - | €575k | €585k | €595k | €605k | ▲ 1.7% |
| Financial debts43 | - | - | - | €4.00M | €3.40M | ▼ 15.1% |
| Credit institutions430/8 | - | - | - | €4.00M | €3.40M | ▼ 15.1% |
| Trade debts44 | €137k | €103k | €135k | €154k | €152k | ▼ 1.3% |
| Suppliers440/4 | - | €103k | €135k | €154k | €152k | ▼ 1.3% |
| Taxes, remuneration and social security45 | - | €45k | €40k | €35k | €39k | ▲ 10.1% |
| Taxes450/3 | - | €45k | €40k | €35k | €39k | ▲ 10.1% |
| Other amounts payable47/48 | - | €121k | €121k | €65k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €24k | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-56k | €208k | €310k | €296k | €199k | ▼ 32.9% |
| + Depreciation and write-downs630 | €541k | €379k | €380k | €381k | €384k | ▲ 1.0% |
| Operating cash flow (approximation) | €485k | €586k | €690k | €677k | €583k | ▼ 13.8% |
| Investment in fixed assets (approximation) | - | €-20k | €-12k | €-7k | €-58k | ▼ 764% |
| Change in cash | - | €9k | €4k | €-42k | €-5k | ▲ 89.3% |
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
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-08
Financial
Equity above €1MEq €1.10M ▲22.1%
4 profitable years in a row build equity to €1.10M.
14-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-08
Financial
Highest result since 2020net €310k ▲49.5%
Net result €310k, the highest in the series.
31-08
Financial
Equity above €500kEq €602k ▲107%
2 profitable years in a row build equity to €602k.
03-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-08
Financial
Back to profitnet €208k
Net result €208k after one loss-making year.
31-08
Financial
Equity above €200kEq €291k ▲249%
Equity rises from €83k to €291k.
11-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-08
Financial
Weakest financial yearnet €-56k
Net result drops to €-56k, the lowest in the series; recovery starts the following year.
09-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Brussel
Ground area
1,231 m²
Building footprint
723 m²
Volume, LiDAR
12,218 m³
Parcel 21812N0562/00K000, Brussels · tallest building 21.1 m, ±6 floors. Linked by address, not a title deed.
17
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N0562/00K000 | Brussels | 1,230 m² | 1 · 723 m² | 21.1 m · 6 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.
Recognitions · licences · registrations
Legal Entity Identifier
984500FBF08QA6693M35
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,384. 3,803 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-01-2020
Fiscal year end31-08
Activities, NACEBEL 2025
68121Development of residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.