Summary
QUEN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €699 and a net result of €1,158. Equity is growing by ~32.9% per year across the filed fiscal years. Its solvency ranks better than 7% of 5565 sector peers (fiscal year 2025). The company has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 5565 sector peers (2025).
NBB · sector comparisonPosition among 5565 sector peers
Solvency
better than 7%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
29 d late
2023
29 d late
2022
60 d late
2021
30 d late
2020
30 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 43 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€699
2024 · -€458
Net result
€1,158▼ 89.8%
2024 · €11,366
Total assets
€33,493▲ 1.7%
2024 · €32,934
Solvency
2.1%▲ 3.5pp
2024 · -1.4%
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-€595▲ 87.5%€190,380-€4,482€14,287€2,539▼ 82.2%
Net result-€866▲ 69.1%€187,350-€4,720€11,366€1,158▼ 89.8%
Equity-€194,455▼ 0.4%-€7,105▲ 96.3%-€11,825▼ 66.4%-€458▲ 96.1%€699
Total assets€5,427▼ 31.6%€65,132▲ 1,100%€30,250▼ 53.6%€32,934▲ 8.9%€33,493▲ 1.7%
Debt€199,882▼ 0.8%€72,237▼ 63.9%€42,075▼ 41.8%€33,392▼ 20.6%€32,794▼ 1.8%
Working capital-€172,534▲ 0.4%€14,010€9,458▼ 32.5%€20,993▲ 122%€22,319▲ 6.3%
Solvency-3583.0%▼ 1142.0pp-10.9%▲ 3572.1pp-39.1%▼ 28.2pp-1.4%▲ 37.7pp2.1%▲ 3.5pp
Staff (FTE)
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Equity +96% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 82% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33,493
Fixed assets
€302 ▼ 35.8%
Current assets
€33,191 ▲ 2.2%
Equity and liabilities €33,493
Equity
€699
Debt
€32,794
Debt finances 97.9% of the balance-sheet total.
Key figures and ratios
ROA
3.5%▼
2024 · 34.5%
Debt ≤ 1 year
€10,872▼
2024 · €11,471
Debt > 1 year
€21,921=
2024 · €21,921
Income taxes
€444▼
2024 · €3,028
Equity ratios withheld: equity of €699 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €35 | €168 | €168 | €168 | = |
| Other operating charges640/8 | €1,135 | €1,164 | €1,299 | €607 | €400 | ▼ 34.2% |
| Non-recurring operating charges66A | - | - | - | €147 | - | - |
| Gross operating margin9900 | €540 | €191,580 | -€3,014 | €15,210 | €3,107 | ▼ 79.6% |
| Operating profit (loss)9901 | -€595 | €190,380 | -€4,482 | €14,287 | €2,539 | ▼ 82.2% |
| Financial income75/76B | - | - | €33 | €249 | - | - |
| Recurring financial income75 | - | - | €33 | €1 | - | - |
| Non-recurring financial income76B | - | - | - | €248 | - | - |
| Financial charges65/66B | €271 | €701 | €272 | €141 | €937 | ▲ 564% |
| Recurring financial charges65 | €271 | €701 | €272 | €141 | €937 | ▲ 564% |
| Profit (loss) for the period before taxes9903 | -€866 | €189,679 | -€4,720 | €14,395 | €1,602 | ▼ 88.9% |
| Income taxes67/77 | - | €2,328 | - | €3,028 | €444 | ▼ 85.3% |
| Profit (loss) for the period9904 | -€866 | €187,350 | -€4,720 | €11,366 | €1,158 | ▼ 89.8% |
| Profit (loss) for the period to be appropriated9905 | -€866 | €187,350 | -€4,720 | €11,366 | €1,158 | ▼ 89.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5,427 | €65,132 | €30,250 | €32,934 | €33,493 | ▲ 1.7% |
| Fixed assets21/28 | - | €806 | €638 | €470 | €302 | ▼ 35.8% |
| Tangible fixed assets22/27 | - | €806 | €638 | €470 | €302 | ▼ 35.8% |
| Plant, machinery and equipment23 | - | €415 | €329 | €243 | €157 | ▼ 35.3% |
| Furniture and vehicles24 | - | €392 | €309 | €227 | €144 | ▼ 36.4% |
| Current assets29/58 | €5,427 | €64,326 | €29,612 | €32,464 | €33,191 | ▲ 2.2% |
| Amounts receivable within one year40/41 | €4,653 | €61,266 | €27,011 | €31,460 | €32,728 | ▲ 4.0% |
| Trade receivables40 | €3,724 | €59,147 | €17,915 | €18,599 | €19,122 | ▲ 2.8% |
| Other amounts receivable41 | €928 | €2,119 | €9,096 | €12,860 | €13,606 | ▲ 5.8% |
| Cash at bank and in hand54/58 | €774 | €2,091 | €2,601 | €1,004 | €463 | ▼ 53.9% |
| Deferred charges and accrued income490/1 | - | €969 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5,427 | €65,132 | €30,250 | €32,934 | €33,493 | ▲ 1.7% |
| Equity10/15 | -€194,455 | -€7,105 | -€11,825 | -€458 | €699 | ▲ 253% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €7,563 | €7,563 | €7,563 | €7,563 | €7,563 | = |
| Non-distributable reserves130/1 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Tax-exempt reserves132 | €1,366 | €1,366 | €1,366 | €1,366 | €1,366 | = |
| Profit (loss) carried forward14 | -€263,992 | -€76,641 | -€81,361 | -€69,995 | -€68,837 | ▲ 1.7% |
| Amounts payable17/49 | €199,882 | €72,237 | €42,075 | €33,392 | €32,794 | ▼ 1.8% |
| Amounts payable after more than one year17 | €21,921 | €21,921 | €21,921 | €21,921 | €21,921 | = |
| Other amounts payable178/9 | €21,921 | €21,921 | €21,921 | €21,921 | €21,921 | = |
| Amounts payable within one year42/48 | €177,961 | €50,316 | €20,154 | €11,471 | €10,872 | ▼ 5.2% |
| Financial debts43 | €144,208 | - | - | - | - | - |
| Credit institutions430/8 | €144,208 | - | - | - | - | - |
| Trade debts44 | €7,889 | €47,930 | €17,768 | €8,443 | €7,400 | ▼ 12.4% |
| Suppliers440/4 | €7,889 | €47,930 | €17,768 | €8,443 | €7,400 | ▼ 12.4% |
| Taxes, remuneration and social security45 | €770 | €2,386 | €2,386 | €3,028 | €3,473 | ▲ 14.7% |
| Taxes450/3 | €770 | €2,386 | €2,386 | €3,028 | €3,473 | ▲ 14.7% |
| Other amounts payable47/48 | €25,095 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€866 | €187,350 | -€4,720 | €11,366 | €1,158 | ▼ 89.8% |
| + Depreciation and write-downs630 | - | €35 | €168 | €168 | €168 | = |
| Operating cash flow (approximation) | -€866 | €187,385 | -€4,552 | €11,535 | €1,326 | ▼ 88.5% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | €1,317 | €510 | -€1,597 | -€541 | ▲ 66.1% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €11,366
Net result €11,366 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Back to profitnet €187,350
Net result €187,350 after 4 loss-making years.
31-12
Financial
Liquidity times 42current ratio 1.28
Current ratio from 0.03 to 1.28; short-term debt falls from €177,961 to €50,316.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Weakest financial yearnet -€18,956
Net result drops to -€18,956, the lowest in the series; recovery starts the following year.
27-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 149 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 14 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 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, Liège · 1 establishment unit since 1990
Ground area
3,506 m²
Parcel 62059B0429/00A004, Wallonia. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
Quen
since 19902.050.791.816
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62059B0429/00A004 | Wallonia | 3,506 m² | - | - |
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 24,729 companies in sector 64210 we hold annual accounts for 19,773. 771 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
Founded28-08-1990
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
25110Manufacture of metal structures and parts of structures
25120Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
68310Real estate agency activities
80010Investigation and private security services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442679591
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.