URBAN NATION ASSOCIATES
ActiveSummary
URBAN NATION ASSOCIATES has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.09M and a net result of €66k. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 35% of 1114 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. The figures in the accounts for fiscal year 2024 give a score of 59 on their own. A confirmed filing finding caps the score. Each of these causes sets the same score on its own. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability43▼-27
Solvency54▼-11
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €180k at 30 days only on tighter terms
Liquidity tight (current ratio 1.14 against 2.2 in 2023; short-term debt: 15.3% and cash: 1.3% of total assets), and 71.5% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Sector 71
lower
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
28.5%
Return on assets
0.6%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-10-2025, 91 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
91 d late
2023
68 d late
2022
70 d late
2021
64 d late
2020
65 d early
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€66k▼ 23.1%
2023 · €86k
2018: €209k
2019: €26k
2020: €6k
2021: €233k
2022: €417k
2023: €86k
2018 → 2024
Working capital
€239k▼ 84.9%
2023 · €1.58M
2018: €1.35M
2019: €1.32M
2020: €1.26M
2021: €819k
2022: €1.37M
2023: €1.58M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.87M-€2.10M▲ 12.5%€2.55M▲ 21.3%€2.71M▲ 6.5%€3.09M▲ 13.9%
Operating result€63k-€235k▲ 275%€576k▲ 146%€175k▼ 69.6%€55k▼ 68.5%
Net result€6k-€233k▲ 4,117%€417k▲ 78.8%€86k▼ 79.4%€66k▼ 23.1%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 68% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.82M
Fixed assets
€8.92M ▲ 129%
Current assets
€1.90M ▼ 34.7%
Equity and liabilities €10.82M
Equity
€3.09M ▲ 13.9%
Provisions
€212k ▲ 115%
Debt
€7.52M ▲ 88.3%
Debt's share of the balance-sheet total rises from 58.7% to 69.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€661k▲
2023 · €399k
Cash flow
€672k▲
2023 · €310k
Current ratio
1.14▼
2023 · 2.20
Debt to equity
2.43▲
2023 · 1.47
ROE
2.1%▼
2023 · 3.2%
ROA
0.6%▼
2023 · 1.3%
Interest coverage
2.86▼
2023 · 10.62
Debt ≤ 1 year
€1.66M▲
2023 · €1.32M
Debt > 1 year
€5.83M▲
2023 · €2.65M
Income taxes
€45k▼
2023 · €59k
Staff costs
€73k▲
2023 · €72k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 66 lines
Balance sheet
Code20232024
Assets
Total assets20/58€6.80M€10.82M▲
Formation expenses20-€188
Fixed assets21/28€3.90M€8.92M▲
Intangible fixed assets21€1k€1.08M▲
Tangible fixed assets22/27€2.35M€6.84M▲
Land and buildings22€2.04M€6.41M▲
Plant, machinery and equipment23€32k€256k▲
Furniture and vehicles24€121k€76k▼
Other tangible fixed assets26€159k€102k▼
Financial fixed assets28€1.54M€1.00M▼
Current assets29/58€2.90M€1.90M▼
Amounts receivable after more than one year29€650k-
Other amounts receivable291€650k-
Amounts receivable within one year40/41€645k€683k▲
Trade receivables40€338k€530k▲
Other amounts receivable41€307k€153k▼
Current investments50/53€1.03M€1.03M=
Cash at bank and in hand54/58€563k€145k▼
Deferred charges and accrued income490/1€15k€39k▲
Equity and liabilities
Total equity and liabilities10/49€6.80M€10.82M▲
Equity10/15€2.71M€3.09M▲
Contributions10/11€163k€163k=
Capital10€163k€163k=
Issued capital100€163k€163k=
Revaluation surpluses12-€1k
Reserves13€1.18M€1.63M▲
Non-distributable reserves130/1€1.05M€1.05M▲
Legal reserve130€17k€23k▲
Own shares acquired1312€1.03M€1.03M=
Tax-exempt reserves132€133k€353k▲
Distributable reserves133-€221k
Profit (loss) carried forward14€1.37M€1.30M▼
Provisions and deferred taxes16€98k€212k▲
Deferred taxes168€98k€212k▲
Amounts payable17/49€3.99M€7.52M▲
Amounts payable after more than one year17€2.65M€5.83M▲
Financial debts170/4€2.64M€5.79M▲
Other amounts payable178/9€10k€42k▲
Amounts payable within one year42/48€1.32M€1.66M▲
Current portion of amounts payable after more than one year42€264k€457k▲
Trade debts44€228k€740k▲
Suppliers440/4€228k€740k▲
Taxes, remuneration and social security45€230k€146k▼
Taxes450/3€218k€133k▼
Remuneration and social security454/9€12k€14k▲
Other amounts payable47/48€600k€315k▼
Accrued charges and deferred income492/3€23k€28k▲
Income statement
Code20232024
Remuneration, social security and pensions62€72k€73k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€224k€606k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€62k
Other operating charges640/8€116k€118k▲
Gross operating margin9900€587k€913k▲
Operating profit (loss)9901€175k€55k▼
Financial income75/76B€6k€287k▲
Recurring financial income75€6k€287k▲
Financial charges65/66B€38k€231k▲
Recurring financial charges65€38k€231k▲
Profit (loss) for the period before taxes9903€143k€110k▼
Transfer from deferred taxes780€848€848=
Income taxes67/77€59k€45k▼
Profit (loss) for the period9904€86k€66k▼
Transfer from tax-exempt reserves789€2k€2k=
Profit (loss) for the period to be appropriated9905€87k€68k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.37M€1.30M▼
Profit (loss) brought forward from the previous period14P€1.28M€1.23M▼
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 91 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 68 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 70 days late
2022
31-12
Financial
Highest result since 2018net €417k ▲78.8%
Operating result €576k, net result €417k, both a record.
03-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 64 days late
2021
31-12
Financial
Equity above €2MEq €2.10M ▲12.5%
4 profitable years in a row build equity to €2.10M.
27-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €6k ▼78.7%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
2016
28-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
15 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, Vorst · 2 establishment units since 1983
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.
Pierre Decosterstraat 1101190 VorstGround area
3,964 m²
Building footprint
1,390 m²
Volume, LiDAR
14,581 m³
2 parcels, Brussels · tallest building 19.0 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
Pierre Decosterstraat 110, 1190 Vorst
since 19832.022.974.887
Urban Nation Associates
since 20152.239.483.837
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445C0259/00S003 | Brussels | 2,085 m² | 1 · 114 m² | 19.0 m · 5 fl. |
| 21007A0055/00W008 | Brussels | 1,879 m² | 1 · 1,276 m² | 13.9 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 18,255 companies in sector 71111 we hold annual accounts for 6,321. 1,148 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded25-08-1983
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
71113Urban planning and landscape architecture
82990Other business support services
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
70100Activities of head offices
70200Business and other management consultancy
71119Architectural and engineering activities; technical testing and analysis
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
82100Office administrative and support services
90111Literary creation
90120Visual arts creation
90130Arts creation and performing arts activities
90312Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.