START SERVICES
ActiveSummary
The computed 12-month bankruptcy probability of START SERVICES is 3.6% (moderate). The 2025 annual accounts show equity of €15,608 and a net result of €5,077. Equity is growing by ~17.2% per year across the filed fiscal years. Its solvency ranks better than 46% of 28051 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability59▲+23
Solvency68▲+9
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 1.74 against 1.46 in 2024; short-term debt: 56.6% and cash: 16.6% of total assets), but 56.6% of the assets are financed with debt.
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Signals
Five 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
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 →
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
43.4%
Return on assets
14.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 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 · 6 filingsDeviation from the deadline
2025
18 d late
2024
20 d late
2023
26 d late
2022
21 d late
2021
23 d late
2020
11 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 16 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)
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€15,608▲ 48.2%
2024 · €10,531
Total assets
€35,968▲ 14.9%
2024 · €31,315
Net result
€5,077▲ 736%
2024 · €607
Working capital
€15,007▲ 55.6%
2024 · €9,645
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€11,145▼ 8.2%€12,416▲ 11.4%€12,615▲ 1.6%€8,906▼ 29.4%€13,930▲ 56.4%
Net result€2,859▼ 5.2%€1,236▼ 56.8%€813▼ 34.3%€607▼ 25.3%€5,077▲ 736%
Equity€7,875▲ 57.0%€9,111▲ 15.7%€9,924▲ 8.9%€10,531▲ 6.1%€15,608▲ 48.2%
Total assets€51,339▲ 89.7%€30,897▼ 39.8%€36,888▲ 19.4%€31,315▼ 15.1%€35,968▲ 14.9%
Debt€43,463▲ 97.1%€21,785▼ 49.9%€26,964▲ 23.8%€20,783▼ 22.9%€20,360▼ 2.0%
Working capital€2,759▲ 63.7%€5,465▲ 98.1%€8,764▲ 60.4%€9,645▲ 10.1%€15,007▲ 55.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 56% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35,968
Fixed assets
€601 ▼ 32.2%
Current assets
€35,367 ▲ 16.2%
Equity and liabilities €35,968
Equity
€15,608 ▲ 48.2%
Debt
€20,360 ▼ 2.0%
Debt's share of the balance-sheet total falls from 66.4% to 56.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€14,630▲
2024 · €10,042
Cash flow
€5,777▲
2024 · €1,742
Current ratio
1.74▲
2024 · 1.46
Debt to equity
1.30▼
2024 · 1.97
ROE
32.5%▲
2024 · 5.8%
ROA
14.1%▲
2024 · 1.9%
Interest coverage
2.67▲
2024 · 1.77
Debt ≤ 1 year
€20,360▼
2024 · €20,783
Income taxes
€3,383▲
2024 · €2,636
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 | €4,194 | €2,979 | €2,537 | €1,135 | €700 | ▼ 38.3% |
| Other operating charges640/8 | €1,177 | €1,400 | €1,450 | €1,043 | €1,447 | ▲ 38.7% |
| Gross operating margin9900 | €16,516 | €16,795 | €16,602 | €11,085 | €16,077 | ▲ 45.0% |
| Operating profit (loss)9901 | €11,145 | €12,416 | €12,615 | €8,906 | €13,930 | ▲ 56.4% |
| Financial income75/76B | - | €1 | - | - | - | - |
| Recurring financial income75 | - | €1 | - | - | - | - |
| Financial charges65/66B | €5,054 | €7,781 | €7,924 | €5,663 | €5,470 | ▼ 3.4% |
| Recurring financial charges65 | €5,054 | €7,781 | €7,924 | €5,663 | €5,470 | ▼ 3.4% |
| Profit (loss) for the period before taxes9903 | €6,091 | €4,636 | €4,691 | €3,243 | €8,460 | ▲ 161% |
| Income taxes67/77 | €3,232 | €3,400 | €3,879 | €2,636 | €3,383 | ▲ 28.3% |
| Profit (loss) for the period9904 | €2,859 | €1,236 | €813 | €607 | €5,077 | ▲ 736% |
| Profit (loss) for the period to be appropriated9905 | €2,859 | €1,236 | €813 | €607 | €5,077 | ▲ 736% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €51,339 | €30,897 | €36,888 | €31,315 | €35,968 | ▲ 14.9% |
| Fixed assets21/28 | €5,116 | €3,646 | €1,642 | €886 | €601 | ▼ 32.2% |
| Tangible fixed assets22/27 | €5,116 | €3,646 | €1,642 | €886 | €601 | ▼ 32.2% |
| Plant, machinery and equipment23 | €933 | €1,801 | €1,297 | €886 | €601 | ▼ 32.2% |
| Furniture and vehicles24 | €4,183 | €1,845 | €345 | - | - | - |
| Current assets29/58 | €46,223 | €27,251 | €35,246 | €30,429 | €35,367 | ▲ 16.2% |
| Amounts receivable within one year40/41 | €40,107 | €1,164 | €29,942 | €8,856 | €29,041 | ▲ 228% |
| Trade receivables40 | €39,496 | - | €24,133 | €2,449 | €22,937 | ▲ 837% |
| Other amounts receivable41 | €610 | €1,164 | €5,808 | €6,407 | €6,104 | ▼ 4.7% |
| Cash at bank and in hand54/58 | €5,792 | €25,738 | €5,142 | €21,217 | €5,964 | ▼ 71.9% |
| Deferred charges and accrued income490/1 | €324 | €349 | €162 | €355 | €362 | ▲ 1.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €51,339 | €30,897 | €36,888 | €31,315 | €35,968 | ▲ 14.9% |
| Equity10/15 | €7,875 | €9,111 | €9,924 | €10,531 | €15,608 | ▲ 48.2% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €5,875 | €7,111 | €7,924 | €8,531 | €13,608 | ▲ 59.5% |
| Amounts payable17/49 | €43,463 | €21,785 | €26,964 | €20,783 | €20,360 | ▼ 2.0% |
| Amounts payable within one year42/48 | €43,463 | €21,785 | €26,482 | €20,783 | €20,360 | ▼ 2.0% |
| Trade debts44 | €29,113 | €15,034 | €14,053 | €12,947 | €10,891 | ▼ 15.9% |
| Suppliers440/4 | €29,113 | €15,034 | €14,053 | €12,947 | €10,891 | ▼ 15.9% |
| Taxes, remuneration and social security45 | €12,834 | €6,586 | €12,429 | €7,836 | €9,469 | ▲ 20.8% |
| Taxes450/3 | €5,534 | €6,586 | €7,279 | €2,636 | €6,019 | ▲ 128% |
| Remuneration and social security454/9 | €7,300 | - | €5,150 | €5,200 | €3,450 | ▼ 33.7% |
| Other amounts payable47/48 | €1,516 | €166 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | €482 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,859 | €1,236 | €813 | €607 | €5,077 | ▲ 736% |
| + Depreciation and write-downs630 | €4,194 | €2,979 | €2,537 | €1,135 | €700 | ▼ 38.3% |
| Operating cash flow (approximation) | €7,053 | €4,215 | €3,349 | €1,742 | €5,777 | ▲ 232% |
| Investment in fixed assets (approximation) | - | -€1,509 | -€533 | -€379 | -€415 | ▼ 9.5% |
| Change in cash | - | €19,946 | -€20,596 | €16,076 | -€15,254 | ▼ 195% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
31-12
Financial
Highest result since 2020net €5,077 ▲736%
Operating result €13,930, net result €5,077, both a record.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet €607 ▼25.3%
Net result drops to €607, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Jette · 1 establishment unit since 2024
Ground area
243 m²
Building footprint
96 m²
Volume, LiDAR
1,142 m³
Parcel 21464D0094/00K002, Brussels · tallest building 16.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
START SERVICES
since 20242.354.812.085
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21464D0094/00K002 | Brussels | 243 m² | 1 · 96 m² | 16.0 m · 4 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 15,521 companies in sector 43990 we hold annual accounts for 7,416. 4,841 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
Founded17-07-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.