SURGO
ActiveSURGO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €404k and a net result of €-131k. Equity is growing by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 26% of 27619 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
46
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability9▼-41
Solvency50▼-10
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity ample (current ratio 3.22 against 5.39 in 2024; short-term debt: 8% and cash: 3.4% of total assets), but 75.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-131k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 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
30 d late
2024
31 d late
2023
31 d late
2022
31 d late
2021
31 d late
2020
15 d late
2019
30 d late
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-131k▼ 360%
2024 · €-28k
2019: €8k
2020: €38k
2021: €430k
2022: €-13k
2023: €-18k
2024: €-28k
2019 → 2025
Working capital
€290k▼ 35.7%
2024 · €451k
2019: €-40k
2020: €-20k
2021: €746k
2022: €727k
2023: €471k
2024: €451k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€558k-€545k▼ 2.3%€563k▲ 3.3%€535k▼ 5.1%€404k▼ 24.5%
Operating result€598k-€-12k€-23k▼ 92.9%€-28k▼ 20.9%€-126k▼ 343%
Net result€430k-€-13k€-18k▼ 38.8%€-28k▼ 59.5%€-131k▼ 360%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €126k in 2025 against €28k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.63M
Fixed assets
€1.21M▲ 24.2%
Current assets
€421k▼ 24.0%
Equity and liabilities €1.63M
Equity
€404k▼ 24.5%
Provisions
€118k▼ 9.7%
Debt
€1.11M▲ 28.5%
The debt ratio rises from 56.5% to 68.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-23k▼
2024 · €66k
Cash flow
€-28k▼
2024 · €65k
Solvency
24.7%▼
2024 · 34.9%
Current ratio
3.22▼
2024 · 5.39
Quick ratio
3.22▼
2024 · 5.39
Debt / equity
2.75▲
2024 · 1.62
ROE
-32.4%▼
2024 · -5.3%
ROA
-8.0%▼
2024 · -1.9%
Interest coverage
-1.05▼
2024 · 4.04
Debt
€1.11M▲
2024 · €865k
Debt ≤ 1 year
€131k▲
2024 · €103k
Debt > 1 year
€979k▲
2024 · €759k
Income taxes
€-280▼
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.53M€1.63M▲
Fixed assets21/28€977k€1.21M▲
Tangible fixed assets22/27€972k€1.21M▲
Land and buildings22€109k€91k▼
Plant, machinery and equipment23€9k€3k▼
Furniture and vehicles24€29k€21k▼
Other tangible fixed assets26€825k€1.10M▲
Financial fixed assets28€5k€56▼
Current assets29/58€554k€421k▼
Amounts receivable within one year40/41€216k€50k▼
Trade receivables40€10k€5k▼
Other amounts receivable41€206k€45k▼
Current investments50/53€312k€309k▼
Cash at bank and in hand54/58€15k€55k▲
Deferred charges and accrued income490/1€11k€7k▼
Equity and liabilities
Total equity and liabilities10/49€1.53M€1.63M▲
Equity10/15€535k€404k▼
Contributions10/11€93k€93k=
Reserves13€391k€353k▼
Tax-exempt reserves132€391k€353k▼
Profit (loss) carried forward14€51k€-43k▼
Provisions and deferred taxes16€130k€118k▼
Deferred taxes168€130k€118k▼
Amounts payable17/49€865k€1.11M▲
Amounts payable after more than one year17€759k€979k▲
Financial debts170/4€758k€979k▲
Other amounts payable178/9€1k-
Amounts payable within one year42/48€103k€131k▲
Current portion of amounts payable after more than one year42€72k€83k▲
Trade debts44€23k€22k▼
Suppliers440/4€23k€22k▼
Taxes, remuneration and social security45€2k€1k▼
Taxes450/3€839€1k▲
Remuneration and social security454/9€1k-
Other amounts payable47/48€6k€24k▲
Accrued charges and deferred income492/3€4k€2k▼
Income statement
Code20242025
Non-recurring operating income76A€9k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€94k€103k▲
Other operating charges640/8€38k€7k▼
Non-recurring operating charges66A€53k€25k▼
Gross operating margin9900€157k€9k▼
Operating profit (loss)9901€-28k€-126k▼
Financial income75/76B€9k€4k▼
Recurring financial income75€9k€4k▼
Financial charges65/66B€16k€22k▲
Recurring financial charges65€16k€22k▲
Profit (loss) for the period before taxes9903€-35k€-144k▼
Transfer from deferred taxes780€8k€13k▲
Income taxes67/77€1k€-280▼
Profit (loss) for the period9904€-28k€-131k▼
Transfer from tax-exempt reserves789€24k€38k▲
Profit (loss) for the period to be appropriated9905€-4k€-93k▼
Appropriation of the result
Profit (loss) to be appropriated9906€51k€-43k▼
Profit (loss) brought forward from the previous period14P€55k€51k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
31-12
Financial
Weakest financial yearnet €-131k
Net result drops to €-131k, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Liquidity times 8current ratio 42.59
Current ratio from 5.42 to 42.59; short-term debt falls from €169k to €17k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Highest result since 2019net €430k ▲1043%
Operating result €598k, net result €430k, both a record.
31-12
Financial
Liquidity times 6current ratio 5.42
Current ratio from 0.97 to 5.42; short-term debt falls from €627k to €169k.
31-12
Financial
Equity above €500kEq €558k ▲336%
3 profitable years in a row build equity to €558k.
2020
15-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 15 days late
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 30 days late
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
31-01
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 62 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Sprimont · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Voué(GOM) 994140 SprimontGround area
787 m²
Building footprint
131 m²
Parcel 63006D0587/00F004, Wallonia. Linked by address, not a title deed.
1 establishment unit
SURGO
since 20212.323.343.505
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63006D0587/00F004 | Wallonia | 787 m² | 1 · 131 m² | - |
Linked by address, not proof of ownership
Methodology
via establishment units: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
EURO ISOLATION EXPORT
BE 0848.211.352
Fleurus · Eq €404k
SARISOL
BE 0846.634.905
Namur · Eq €400k
ISOTECH
BE 0470.543.436
Heist-op-den-Berg · Eq €398k
ISOLATION-MEDA-BEL
BE 0472.091.674
Schaarbeek · Eq €396k
S.I.R.
BE 0447.975.890
Wijnegem · Eq €396k
Of 4,267 companies in sector 43230 we hold annual accounts for 1,240. 804 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-04-2008
Fiscal year end31-12
Activities, NACEBEL
43230Insulation installation
43291Specialised construction activities
41001General construction of residential buildings
42110Construction of roads and motorways
43110Demolition
43120Site preparation
70200Business and other management consultancy
70220Business consulting
81220Other building cleaning and industrial cleaning
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.