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Private limited companyfounded 1987active for 39 yearsHille-Zuid 2, 8750 Wingene, BelgiumKBO/BCE: BE 0431.290.506

Financials · financial year 2025, full format

2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00488718.

Annual accounts 2025 filed on 31-08-2026 at the NBB all 39 filings

Turnover
€51.8m▼ 5.8%
2024 · €55.0m
EBIT margin
3.1%▲ 0.7pp
2024 · 2.5%
Net result
€969,910▲ 28.5%
2024 · €754,952
Working capital
€18.6m▼ 4.0%
2024 · €19.4m
Multi-year overview
2018 to 2025, 8 financial years
Turnover
€51.8m
▼ 5.8% 2025
20182025
Operating result
€1.6m
▲ 18.9% 2025
20182025
Net result
€969,910
▲ 28.5% 2025
highest quarter of the sector
20182025
EBIT margin
3.1%
▲ 0.7pp 2025
20182025
Equity
€4.4m
▲ 24.5% 2025
middle half of the sector
20182025
Total assets
€39.5m
▲ 7.1% 2025
highest quarter of the sector
20182025
Debt
€35.1m
▲ 5.2% 2025
20182025
Working capital
€18.6m
▼ 4.0% 2025
highest quarter of the sector
20182025
Solvency
11.2%
▲ 1.6pp 2025
lowest quarter of the sector
20182025
Current ratio
2.17
▼ 0.16 2025
middle half of the sector
20182025
Return on assets (ROA)
2.5%
▲ 0.4pp 2025
middle half of the sector
20182025
Staff (FTE)
10.4
▲ 2.0% 2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€16.6m-€22.1m▲ 32.9%€24.9m▲ 12.5%€35.4m▲ 42.5%€39.8m▲ 12.5%€54.2m▲ 36.0%€55.0m▲ 1.5%€51.8m▼ 5.8%
Operating result€0.3m-€0.06m▼ 77.7%€0.1m▲ 82.7%€0.5m▲ 361%€1.5m▲ 227%€1.8m▲ 13.9%€1.4m▼ 22.5%€1.6m▲ 18.9%
Net result€0.1m-€0.01m▼ 92.2%€0.03mwithin the sector's middle half▲ 148%€0.3mwithin the sector's middle half▲ 948%€1.1mabove the sector's middle half▲ 271%€1.2mabove the sector's middle half▲ 10.1%€0.8mabove the sector's middle half▼ 38.5%€1.0mabove the sector's middle half▲ 28.5%
EBIT margin1.5%-0.3%▼ 1.3pp0.4%▲ 0.2pp1.3%▲ 0.9pp3.9%▲ 2.5pp3.2%▼ 0.6pp2.5%▼ 0.8pp3.1%▲ 0.7pp
Equity€0.6m-€0.6m▲ 2.1%€0.6mwithin the sector's middle half▲ 5.1%€0.8mwithin the sector's middle half▲ 33.8%€1.8mwithin the sector's middle half▲ 128%€2.9mwithin the sector's middle half▲ 59.5%€3.5mwithin the sector's middle half▲ 22.7%€4.4mwithin the sector's middle half▲ 24.5%
Total assets€11.2m-€11.6m▲ 2.9%€12.0mabove the sector's middle half▲ 4.0%€15.0mabove the sector's middle half▲ 24.2%€17.2mabove the sector's middle half▲ 14.8%€29.7mabove the sector's middle half▲ 73.1%€36.9mabove the sector's middle half▲ 24.1%€39.5mabove the sector's middle half▲ 7.1%
Debt€10.7m-€11.0m▲ 2.9%€11.4m▲ 4.0%€14.2m▲ 23.7%€15.4m▲ 8.5%€26.8m▲ 74.6%€33.3m▲ 24.3%€35.1m▲ 5.2%
Working capital-€0.9m-€4.1m€5.5mabove the sector's middle half▲ 35.2%€6.4mabove the sector's middle half▲ 15.6%€7.7mabove the sector's middle half▲ 21.7%€17.5mabove the sector's middle half▲ 126%€19.4mabove the sector's middle half▲ 10.5%€18.6mabove the sector's middle half▼ 4.0%
Solvency4.9%-4.9%=4.9%below the sector's middle half=5.3%below the sector's middle half▲ 0.4pp10.5%below the sector's middle half▲ 5.2pp9.7%below the sector's middle half▼ 0.8pp9.6%below the sector's middle half▼ 0.1pp11.2%below the sector's middle half▲ 1.6pp
Current ratio0.91-1.75▲ 0.842.14within the sector's middle half▲ 0.391.85within the sector's middle half▼ 0.282.02within the sector's middle half▲ 0.162.75within the sector's middle half▲ 0.732.33within the sector's middle half▼ 0.422.17within the sector's middle half▼ 0.16
Return on assets (ROA)1.3%-0.1%▼ 1.2pp0.2%below the sector's middle half▲ 0.1pp2.0%within the sector's middle half▲ 1.8pp6.5%within the sector's middle half▲ 4.5pp4.1%within the sector's middle half▼ 2.4pp2.0%within the sector's middle half▼ 2.1pp2.5%within the sector's middle half▲ 0.4pp
Staff (FTE)5.2-7.5▲ 44.2%9.1within the sector's middle half▲ 21.3%9.3within the sector's middle half▲ 2.2%7.4within the sector's middle half▼ 20.4%7.7within the sector's middle half▲ 4.1%10.2within the sector's middle half▲ 32.5%10.4within the sector's middle half▲ 2.0%
above within below The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2025 is 19% higher than in 2024. It is a recovery after the fall in 2024.

Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €39.5m
Fixed assets €5.0m ▲ 66.5%
Current assets €34.5m ▲ 1.8%
Equity and liabilities €39.5m
Equity €4.4m ▲ 24.5%
Provisions €24,591 ▲ 39.5%
Debt €35.1m ▲ 5.2%
Debt's share of the balance-sheet total falls from 90.3% to 88.8%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€2.7m▲
2024 · €2.1m
Cash flow
€2.0m▲
2024 · €1.5m
Quick ratio
1.35▼
2024 · 1.42
Debt to equity
7.95▼
2024 · 9.41
ROE
22.0%▲
2024 · 21.3%
Interest coverage
6.71▲
2024 · 5.03
Debt ≤ 1 year
€15.9m▲
2024 · €14.5m
Debt > 1 year
€18.5m▼
2024 · €18.5m
Income taxes
€279,771▲
2024 · €223,762
Customer credit
42 days▼
2024 · 48 days
Supplier credit
19 days▼
2024 · 28 days
Staff costs
€595,324▲
2024 · €522,924
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date878128
full-time768128
part-time11000
in full-time equivalents7.66.68128
Average over the year, in full-time equivalents7.67.47.710.210.4
On a permanent contract878128
Joined21351
Left42215
Agency workers, average number--0.60.5-
Training hours1112162416

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20212022202320242025
Debts secured on the company's own assets€524,650€230,375€157,733€139,534€121,334
Pledge on the business€2.6m€2.8m€2.8m€2.8m€10.1m
Mandates to pledge the business€2.6m---€0

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€614,286€1.4m€1.6m€2.0m€3.8m
Intangible fixed assets€21,362--€12,590-
Depreciation and write-downs of the year€421,356€480,847€538,668€734,055€1.1m

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2025 · 1 entry · €3,292 awarded · €3,292 paid
Schemes
1 entry · €3,292 · €3,292 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 85 lines
Balance sheet Code20242025
Assets
Total assets20/58€36.9m€39.5m▲
Fixed assets21/28€3.0m€5.0m▲
Intangible fixed assets21€0.01m€0.008m▼
Tangible fixed assets22/27€3.0m€5.0m▲
Plant, machinery and equipment23€0.2m€0.2m▲
Furniture and vehicles24€2.6m€4.6m▲
Other tangible fixed assets26€0.2m€0.2m▼
Financial fixed assets28€0.004m€0.01m▲
Other financial fixed assets284/8€0.004m€0.01m▲
Amounts receivable and cash guarantees285/8€0.004m€0.01m▲
Current assets29/58€33.9m€34.5m▲
Stocks and contracts in progress3€13.3m€13.0m▼
Stocks30/36€13.3m€13.0m▼
Raw materials and consumables30/31€0.2m€0.2m▼
Work in progress32-€0.03m
Goods purchased for resale34€13.1m€12.8m▼
Amounts receivable within one year40/41€19.0m€19.8m▲
Trade receivables40€7.3m€5.9m▼
Other amounts receivable41€11.7m€13.9m▲
Cash at bank and in hand54/58€1.0m€1.3m▲
Deferred charges and accrued income490/1€0.6m€0.3m▼
Equity and liabilities
Total equity and liabilities10/49€36.9m€39.5m▲
Equity10/15€3.5m€4.4m▲
Contributions10/11€0.1m€0.1m=
Reserves13€3.4m€4.3m▲
Tax-exempt reserves132€1.2m€1.4m▲
Distributable reserves133€2.2m€2.9m▲
Profit (loss) carried forward14€0.004m€0.005m▲
Provisions and deferred taxes16€0.02m€0.02m▲
Deferred taxes168€0.02m€0.02m▲
Amounts payable17/49€33.3m€35.1m▲
Amounts payable after more than one year17€18.5m€18.5m▼
Financial debts170/4€18.5m€18.5m▼
Credit institutions173€0.1m€0.1m▼
Other loans174€18.4m€18.4m=
Amounts payable within one year42/48€14.5m€15.9m▲
Current portion of amounts payable after more than one year42€0.02m€0.02m=
Financial debts43€7.1m€5.6m▼
Credit institutions430/8€7.1m€5.6m▼
Trade debts44€3.9m€2.4m▼
Suppliers440/4€3.9m€2.4m▼
Advances received on contracts in progress46€1.5m€3.7m▲
Taxes, remuneration and social security45€0.05m€0.4m▲
Taxes450/3€0.01m€0.3m▲
Remuneration and social security454/9€0.04m€0.07m▲
Other amounts payable47/48€2.0m€3.8m▲
Accrued charges and deferred income492/3€0.3m€0.7m▲
Income statement Code20242025
Operating income70/76A€55.5m€52.4m▼
Turnover70€55.0m€51.8m▼
Other operating income74€0.5m€0.5m▲
Non-recurring operating income76A€0-
Operating charges60/66A€54.2m€50.7m▼
Goods for resale, raw materials and consumables60€50.4m€46.5m▼
Purchases600/8€51.9m€46.2m▼
Change in stocks: decrease (increase)609-€1.5m€0.3m▲
Services and other goods61€2.3m€2.5m▲
Remuneration, social security and pensions62€0.5m€0.6m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.7m€1.1m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.06m-€0.006m▼
Other operating charges640/8€0.2m€0.1m▼
Operating profit (loss)9901€1.4m€1.6m▲
Financial income75/76B€0.05m€0.06m▲
Recurring financial income75€0.05m€0.06m▲
Income from current assets751€0.04m€0.05m▲
Other financial income752/9€0.01m€0.01m▲
Financial charges65/66B€0.4m€0.4m▼
Recurring financial charges65€0.4m€0.4m▼
Debt charges650€0.4m€0.4m▼
Other financial charges652/9€0.02m€0.02m▲
Profit (loss) for the period before taxes9903€1.0m€1.3m▲
Transfer from deferred taxes780€0.001m€0.002m▲
Transfer to deferred taxes680€0.004m€0.009m▲
Income taxes67/77€0.2m€0.3m▲
Taxes670/3€0.2m€0.3m▲
Profit (loss) for the period9904€0.8m€1.0m▲
Transfer from tax-exempt reserves789€0.2m€0.2m▲
Transfer to tax-exempt reserves689€0.3m€0.3m▲
Profit (loss) for the period to be appropriated9905€0.6m€0.8m▲
Appropriation of the result
Profit (loss) to be appropriated9906€0.6m€0.8m▲
Profit (loss) brought forward from the previous period14P€0.01m€0.004m▼
Transfer to equity691/2€0.5m€0.7m▲
To other reserves6921€0.5m€0.7m▲
Profit to be distributed694/7€0.1m€0.1m=
Directors or managers695€0.1m€0.1m=
Social balance sheet
Average headcount (FTE)908710.210.4▲

The notes to these accounts have 69 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.

Line20182019202020212022202320242025Change
Operating income70/76A---€35.7m€40.3m€55.0m€55.5m€52.4m▼ 5.7%
Turnover70€16.6m€22.1m€24.9m€35.4m€39.8m€54.2m€55.0m€51.8m▼ 5.8%
Other operating income74---€0.2m€0.4m€0.5m€0.5m€0.5m▲ 13.3%
Non-recurring operating income76A-----€0.3m€0--
Operating charges60/66A---€35.2m€38.7m€53.3m€54.2m€50.7m▼ 6.3%
Goods for resale, raw materials and consumables60---€32.6m€35.9m€49.7m€50.4m€46.5m▼ 7.7%
Purchases600/8---€32.9m€37.5m€56.7m€51.9m€46.2m▼ 11.0%
Change in stocks: decrease (increase)609----€0.2m-€1.6m-€7.0m-€1.5m€0.3m-
Services and other goods61---€1.5m€1.8m€2.5m€2.3m€2.5m▲ 8.5%
Remuneration, social security and pensions62---€0.5m€0.3m€0.4m€0.5m€0.6m▲ 13.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.0m€0.7m€0.7m€0.4m€0.5m€0.5m€0.7m€1.1m▲ 46.0%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€0.03m€0.005m€0.07m€0.06m-€0.006m-
Other operating charges640/8---€0.1m€0.2m€0.1m€0.2m€0.1m▼ 40.4%
Operating profit (loss)9901€0.3m€0.06m€0.1m€0.5m€1.5m€1.8m€1.4m€1.6m▲ 18.9%
Financial income75/76B---€0.01m€0.004m€0.01m€0.05m€0.06m▲ 21.0%
Recurring financial income75€0.001m€0.003m€0.005m€0.01m€0.004m€0.01m€0.05m€0.06m▲ 21.0%
Income from current assets751---€0.006m€287€0.006m€0.04m€0.05m▲ 24.3%
Other financial income752/9---€0.004m€0.004m€0.004m€0.01m€0.01m▲ 10.0%
Financial charges65/66B---€0.1m€0.1m€0.2m€0.4m€0.4m▼ 1.6%
Recurring financial charges65€0.04m€0.04m€0.06m€0.1m€0.1m€0.2m€0.4m€0.4m▼ 1.6%
Debt charges650€0.03m€0.03m€0.06m€0.1m€0.09m€0.2m€0.4m€0.4m▼ 3.7%
Other financial charges652/9---€0.004m€0.003m€0.01m€0.02m€0.02m▲ 56.4%
Profit (loss) for the period before taxes9903€0.2m€0.02m€0.04m€0.4m€1.4m€1.6m€1.0m€1.3m▲ 28.0%
Transfer from deferred taxes780------€0.001m€0.002m▲ 84.5%
Transfer to deferred taxes680-----€0.01m€0.004m€0.009m▲ 136%
Income taxes67/77€0.06m€0.01m€0.02m€0.07m€0.3m€0.3m€0.2m€0.3m▲ 25.0%
Taxes670/3---€0.07m€0.3m€0.3m€0.2m€0.3m▲ 25.0%
Profit (loss) for the period9904€0.1m€0.01m€0.03m€0.3m€1.1m€1.2m€0.8m€1.0m▲ 28.5%
Transfer from tax-exempt reserves789------€0.2m€0.2m▲ 6.5%
Transfer to tax-exempt reserves689---€0.2m€0.4m€0.5m€0.3m€0.3m▲ 4.5%
Profit (loss) for the period to be appropriated9905€0.006m€0.01m€0.02m€0.1m€0.7m€0.8m€0.6m€0.8m▲ 35.7%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€11.2m€11.6m€12.0m€15.0m€17.2m€29.7m€36.9m€39.5m▲ 7.1%
Fixed assets21/28€2.3m€2.1m€1.7m€1.2m€1.8m€2.2m€3.0m€5.0m▲ 66.5%
Intangible fixed assets21€0.04m€0.03m€0.02m€0.03m€0.01m€0.002m€0.01m€0.008m▼ 34.8%
Tangible fixed assets22/27€2.2m€2.0m€1.7m€1.1m€1.8m€2.2m€3.0m€5.0m▲ 66.6%
Plant, machinery and equipment23---€0.02m€0.05m€0.2m€0.2m€0.2m▲ 17.9%
Furniture and vehicles24---€1.1m€1.5m€1.8m€2.6m€4.6m▲ 76.0%
Other tangible fixed assets26----€0.3m€0.2m€0.2m€0.2m▼ 2.2%
Financial fixed assets28€0.001m€0.001m€0.001m-€135€135€0.004m€0.01m▲ 276%
Other financial fixed assets284/8----€135€135€0.004m€0.01m▲ 276%
Amounts receivable and cash guarantees285/8----€135€135€0.004m€0.01m▲ 276%
Current assets29/58€9.0m€9.5m€10.3m€13.8m€15.3m€27.5m€33.9m€34.5m▲ 1.8%
Stocks and contracts in progress3€3.7m€1.8m€3.6m€3.8m€4.8m€11.8m€13.3m€13.0m▼ 2.2%
Stocks30/36---€3.8m€4.8m€11.8m€13.3m€13.0m▼ 2.2%
Raw materials and consumables30/31---€0.2m€0.2m€0.2m€0.2m€0.2m▼ 8.4%
Work in progress32-------€0.03m-
Goods purchased for resale34---€3.6m€4.6m€11.6m€13.1m€12.8m▼ 2.3%
Amounts receivable within one year40/41€4.7m€7.3m€6.2m€8.7m€8.4m€15.0m€19.0m€19.8m▲ 4.3%
Trade receivables40---€4.4m€5.5m€5.5m€7.3m€5.9m▼ 18.7%
Other amounts receivable41---€4.3m€2.9m€9.5m€11.7m€13.9m▲ 18.5%
Cash at bank and in hand54/58€0.2m€0.1m€0.4m€0.8m€1.7m€0.2m€1.0m€1.3m▲ 36.7%
Deferred charges and accrued income490/1---€0.4m€0.4m€0.6m€0.6m€0.3m▼ 42.3%
Equity and liabilities
Total equity and liabilities10/49€11.2m€11.6m€12.0m€15.0m€17.2m€29.7m€36.9m€39.5m▲ 7.1%
Equity10/15€0.6m€0.6m€0.6m€0.8m€1.8m€2.9m€3.5m€4.4m▲ 24.5%
Contributions10/11€0.1m€0.1m-€0.1m€0.1m€0.1m€0.1m€0.1m=
Reserves13€0.4m€0.4m€0.5m€0.6m€1.6m€2.8m€3.4m€4.3m▲ 25.4%
Non-distributable reserves130/1---€0.01m€0.01m€0---
Reserves not available under the articles1311---€0.01m€0.01m€0---
Tax-exempt reserves132---€0.3m€0.6m€1.1m€1.2m€1.4m▲ 13.8%
Distributable reserves133---€0.3m€1.0m€1.7m€2.2m€2.9m▲ 31.8%
Profit (loss) carried forward14€432€409€0.001m€0.03m€0.09m€0.01m€0.004m€0.005m▲ 46.0%
Provisions and deferred taxes16-----€0.01m€0.02m€0.02m▲ 39.5%
Deferred taxes168-----€0.01m€0.02m€0.02m▲ 39.5%
Amounts payable17/49€10.7m€11.0m€11.4m€14.2m€15.4m€26.8m€33.3m€35.1m▲ 5.2%
Amounts payable after more than one year17€0.2m€5.1m€6.6m€6.5m€7.5m€16.5m€18.5m€18.5m▼ 0.1%
Financial debts170/4---€6.5m€7.5m€16.5m€18.5m€18.5m▼ 0.1%
Credit institutions173---€0.004m€0.2m€0.1m€0.1m€0.1m▼ 15.0%
Other loans174---€6.5m€7.4m€16.4m€18.4m€18.4m=
Amounts payable within one year42/48€9.8m€5.4m€4.8m€7.4m€7.6m€10.0m€14.5m€15.9m▲ 9.6%
Current portion of amounts payable after more than one year42---€0.05m€0.02m€0.02m€0.02m€0.02m=
Financial debts43---€0.5m€0.05m€3.7m€7.1m€5.6m▼ 20.3%
Credit institutions430/8---€0.5m€0.05m€3.7m€7.1m€5.6m▼ 20.3%
Trade debts44€2.9m€2.0m€1.4m€1.5m€2.1m€2.9m€3.9m€2.4m▼ 37.7%
Suppliers440/4---€1.5m€2.1m€2.9m€3.9m€2.4m▼ 37.7%
Advances received on contracts in progress46---€1.9m€3.3m€2.1m€1.5m€3.7m▲ 144%
Taxes, remuneration and social security45---€0.1m€0.1m€0.1m€0.05m€0.4m▲ 667%
Taxes450/3---€0.03m€0.1m€0.07m€0.01m€0.3m▲ 24×
Remuneration and social security454/9---€0.07m€0.03m€0.04m€0.04m€0.07m▲ 88.1%
Other amounts payable47/48---€3.4m€2.1m€1.2m€2.0m€3.8m▲ 90.0%
Accrued charges and deferred income492/3---€0.2m€0.3m€0.3m€0.3m€0.7m▲ 111%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.1m€0.01m€0.03m€0.3m€1.1m€1.2m€0.8m€1.0m▲ 28.5%
+ Depreciation and write-downs630€1.0m€0.7m€0.7m€0.4m€0.5m€0.5m€0.7m€1.1m▲ 46.0%
Operating cash flow (approximation)€1.1m€0.7m€0.7m€0.7m€1.6m€1.8m€1.5m€2.0m▲ 37.1%
Investment in fixed assets (approximation)--€0.5m-€0.3m€0.1m-€1.2m-€0.9m-€1.5m-€3.1m▼ 98.4%
Change in cash--€0.04m€0.3m€0.4m€0.9m-€1.6m€0.8m€0.4m▼ 56.0%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 4,685 companies had the same profile as STEELS CONSTRUCTIONS has now. Two years later, 96.9% were still going and 1.1% had gone bankrupt.

  • Small
  • 20 years or older
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
96.9% was still going
1.9% stopped otherwise
1.1% went bankrupt

That fits the bankruptcy probability of STEELS CONSTRUCTIONS itself: 0.6% within 12 months.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 4,685 companies, not a prediction for STEELS CONSTRUCTIONS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Latest 10 of 39 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 31-08-2026 2026-00488718 PDF
31-12-2024 full format 30-08-2025 2025-00479729 PDF
31-12-2023 full format 27-09-2024 2024-00477891 PDF
31-12-2022 full format 20-07-2023 2023-00255056 PDF
31-12-2021 full format 20-07-2022 2022-20213822 PDF
31-12-2020 full format 27-07-2021 2021-44200504 PDF
31-12-2019 full format 18-08-2020 2020-42000112 PDF
31-12-2018 full format 24-07-2019 2019-37700049 PDF
31-12-2017 full format 27-09-2018 2018-66500490 PDF
31-12-2016 full format 27-07-2017 2017-39700543 PDF

Show all 39 filings

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