NSL Projects

Active

Private limited companyfounded 20233 yrs activeStwg. op Merchtem 104, 1745 Opwijk, BelgiumKBO/BCE: BE 0801.526.143

Summary

The computed 12-month bankruptcy probability of NSL Projects is 1.9% (moderate). The 2025 annual accounts show equity of €16,275 and a net result of €1. Its solvency ranks better than 18% of 32341 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch Report Compare

NSL ProjectsActiveChecked score 53/100

Risk analysis Report Compare

Activity

Insulation installation

NACE 43230NACE 43291

1 site

Size

€107,526total assets 2025

Staff: 1 FTE
Equity: €16,275
Profit: €1

Turnover not published (abridged schema)

Financial health

53 Fair Checked score 2025

Bankruptcy chance 12 m: 1.9%

Structure

Board: 1 member

Accounts filed 31 d late1 of 3 deeds read

Why 53- Founded in 2023- Latest accounts 31 days late; 1 of the last 3 late- 1 change of registered office in 24 months+ Liquidity: current ratio 1.17, cash €90,680Show the evidence

Checked score

Score 2025

53 / 100

Fair

Probability in this band: 1.5% to 4.2%

Better than 29% of its sector peers (NACE 43, micro)

Performance against the sector, not lower risk

Every signal that weighs is under Signals.

Financial strength · tick = 2024

Weak

Solvency 40-16

equity 15.1% of total assets

Liquidity 53-10

short-term debt 84.9% · cash 84.3%

Profitability 27-69

return on assets 0.0%

Bankruptcy probability, 12 months

1.9% Moderate

0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,046 companies)

Last 24 months 11-2024: 2.7% 12-2024: 3.0%▲ +10.3% vs 11-2024 01-2025: 3.0%▲ +1.8% vs 12-2024 02-2025: 2.9%▼ -3.1% vs 01-2025 03-2025: 3.0%▲ +0.2% vs 02-2025 04-2025: 3.2%▲ +7.2% vs 03-2025 05-2025: 3.3%▲ +4.2% vs 04-2025 06-2025: 3.3%▲ +1.1% vs 05-2025highest value 07-2025: 3.3%● 0.0% vs 06-2025highest value 08-2025: 3.3%● 0.0% vs 07-2025highest value 09-2025: 0.6%▼ -81.8% vs 08-2025 10-2025: 0.6%● 0.0% vs 09-2025 11-2025: 0.6%● 0.0% vs 10-2025 12-2025: 0.6%● 0.0% vs 11-2025 01-2026: 0.5%▼ -14.5% vs 12-2025 02-2026: 0.5%▼ -1.7% vs 01-2026lowest value 03-2026: 0.5%▲ +2.2% vs 02-2026 04-2026: 0.5%▲ +1.5% vs 03-2026 05-2026: 0.5%▲ +1.9% vs 04-2026 06-2026: 1.3%▲ +140% vs 05-2026 07-2026: 1.3%▲ +3.8% vs 06-2026 08-2026: 2.3%▲ +68.7% vs 07-2026 09-2026: 1.9%▼ -14.6% vs 08-2026 10-2026: 1.9%● 0.0% vs 09-2026

Founded in 2023 raises the probability for this profile
Liquidity: current ratio 1.17, cash €90,680 lowers the probability
Latest accounts 31 days late; 1 of the last 3 late raises the probability
1 change of registered office in 24 months raises the probability

Credit up to €500 at 30 days acceptable

Liquidity tight (current ratio 1.17 against 1.42 in 2024; short-term debt: 84.9% and cash: 84.3% of total assets), and 84.9% of the assets are financed with debt.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 43, micro). Better than this share of them on solvency 17%, liquidity 49%, profitability 16%, growth against the median 34%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

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Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Founded in 2023

In the bankruptcy model this factor raises the probability for this profile.

KBO

Liquidity: current ratio 1.17, cash €90,680

In the bankruptcy model this factor lowers the probability.

NBB · annual accounts

Latest accounts 31 days late; 1 of the last 3 late

In the bankruptcy model this factor raises the probability.

NBB · filings

1 change of registered office in 24 months

In the bankruptcy model this factor raises the probability.

Belgian State Gazette

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 32341 sector peers (2025).

NBB · sector comparison

Position among 32341 sector peers

Solvency

better than 18%

← weakest strongest →

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 · 2 filings

Deviation from the deadline

2025

31 d late

2024

7 d late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 19 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 (2)

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 months

Position in the running window

03-10-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

31-08-26 Annual accounts filedfiscal year 2025 · micro…
27-05-26 Resignations: VISTA GROUP (director) and HELLEBAUT…Permanent representative: VAN den BOSSCHE…
07-08-25 Annual accounts filedfiscal year 2024 · micro…

Key points

Caution: Board changedlatest change 27-05-2026 · 1 in office 1 joined · 2 left View
Caution: Among the weakest 18% on solvencysector median 47.2% · 32,341 companies 15.1% View
Total assets 20252 fiscal years filed €107,526 View