Summary
UST is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €206,425 and a net result of €98,775. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 53% of 8091 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
31 d late
2023
31 d late
2022
32 d late
2021
95 d late
2020
31 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 44 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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. Usually files around 1 September (4 of the last 5 filed years within 33 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€206,425▼ 29.5%
2024 · €292,651
Net result
€98,775▲ 35.4%
2024 · €72,957
Total assets
€379,235▲ 3.3%
2024 · €367,156
Solvency
54.4%▼ 25.3pp
2024 · 79.7%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€12,593▼ 69.0%€56,692▲ 350%€52,524▼ 7.4%€93,005▲ 77.1%€112,378▲ 20.8%
Net result€374,593above the sector's middle half▲ 7.5%€34,272within the sector's middle half▼ 90.9%€32,076within the sector's middle half▼ 6.4%€72,957within the sector's middle half▲ 127%€98,775above the sector's middle half▲ 35.4%
Equity€414,953above the sector's middle half▲ 5.9%€449,226above the sector's middle half▲ 8.3%€284,693within the sector's middle half▼ 36.6%€292,651within the sector's middle half▲ 2.8%€206,425within the sector's middle half▼ 29.5%
Total assets€869,798within the sector's middle half▲ 30.8%€792,465within the sector's middle half▼ 8.9%€782,578within the sector's middle half▼ 1.2%€367,156within the sector's middle half▼ 53.1%€379,235within the sector's middle half▲ 3.3%
Debt€454,844▲ 66.4%€343,239▼ 24.5%€497,885▲ 45.1%€74,505▼ 85.0%€172,810▲ 132%
Working capital€266,219above the sector's middle half▲ 0.3%€298,249above the sector's middle half▲ 12.0%€127,836within the sector's middle half▼ 57.1%€216,046above the sector's middle half▲ 69.0%€130,724within the sector's middle half▼ 39.5%
Solvency47.7%within the sector's middle half▼ 11.2pp56.7%within the sector's middle half▲ 9.0pp36.4%within the sector's middle half▼ 20.3pp79.7%above the sector's middle half▲ 43.3pp54.4%within the sector's middle half▼ 25.3pp
Current ratio2.00within the sector's middle half▼ 3.292.75within the sector's middle half▲ 0.751.38within the sector's middle half▼ 1.383.90within the sector's middle half▲ 2.521.76within the sector's middle half▼ 2.14
Return on assets (ROA)43.1%above the sector's middle half▼ 9.3pp4.3%within the sector's middle half▼ 38.7pp4.1%within the sector's middle half▼ 0.2pp19.9%within the sector's middle half▲ 15.8pp26.0%within the sector's middle half▲ 6.2pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 21% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €379,235
Fixed assets
€75,701 ▼ 1.2%
Current assets
€303,534 ▲ 4.5%
Equity and liabilities €379,235
Equity
€206,425 ▼ 29.5%
Debt
€172,810 ▲ 132%
Debt's share of the balance-sheet total rises from 20.3% to 45.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
47.9%▲
2024 · 24.9%
Debt ≤ 1 year
€172,810▲
2024 · €74,505
Income taxes
€27,551▲
2024 · €19,128
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €31,648 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,459 | €12,957 | €12,440 | €903 | €903 | = |
| Other operating charges640/8 | €556 | €687 | €1,380 | €1,231 | €649 | ▼ 47.3% |
| Gross operating margin9900 | €25,609 | €70,336 | €66,344 | €95,140 | €113,930 | ▲ 19.8% |
| Operating profit (loss)9901 | €12,593 | €56,692 | €52,524 | €93,005 | €112,378 | ▲ 20.8% |
| Financial income75/76B | €371,064 | - | - | €11,298 | €17,990 | ▲ 59.2% |
| Recurring financial income75 | €371,064 | - | - | €11,298 | €17,990 | ▲ 59.2% |
| Financial charges65/66B | €6,869 | €13,392 | €10,430 | €12,218 | €4,042 | ▼ 66.9% |
| Recurring financial charges65 | €6,869 | €13,392 | €10,430 | €12,218 | €4,042 | ▼ 66.9% |
| Profit (loss) for the period before taxes9903 | €376,788 | €43,300 | €42,094 | €92,085 | €126,325 | ▲ 37.2% |
| Income taxes67/77 | €2,195 | €9,028 | €10,018 | €19,128 | €27,551 | ▲ 44.0% |
| Profit (loss) for the period9904 | €374,593 | €34,272 | €32,076 | €72,957 | €98,775 | ▲ 35.4% |
| Transfer from tax-exempt reserves789 | €2,173 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €376,766 | €34,272 | €32,076 | €72,957 | €98,775 | ▲ 35.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €869,798 | €792,465 | €782,578 | €367,156 | €379,235 | ▲ 3.3% |
| Fixed assets21/28 | €337,047 | €324,090 | €314,360 | €76,605 | €75,701 | ▼ 1.2% |
| Tangible fixed assets22/27 | €262,068 | €249,111 | €239,382 | €1,626 | €723 | ▼ 55.6% |
| Land and buildings22 | €259,700 | €248,229 | €236,758 | - | - | - |
| Furniture and vehicles24 | €2,124 | €713 | €2,530 | €1,626 | €723 | ▼ 55.6% |
| Other tangible fixed assets26 | €245 | €170 | €94 | - | - | - |
| Financial fixed assets28 | €74,979 | €74,979 | €74,979 | €74,979 | €74,979 | = |
| Current assets29/58 | €532,751 | €468,375 | €468,218 | €290,551 | €303,534 | ▲ 4.5% |
| Amounts receivable after more than one year29 | €45,000 | €145,000 | €224,239 | €235,078 | €251,802 | ▲ 7.1% |
| Trade receivables290 | €45,000 | €145,000 | €224,239 | €235,078 | €251,802 | ▲ 7.1% |
| Amounts receivable within one year40/41 | €62,281 | €59,696 | €39,666 | €34,591 | €23,602 | ▼ 31.8% |
| Trade receivables40 | €53,192 | €48,375 | €34,560 | €19,439 | €23,582 | ▲ 21.3% |
| Other amounts receivable41 | €9,089 | €11,321 | €5,106 | €15,152 | €19 | ▼ 99.9% |
| Cash at bank and in hand54/58 | €425,015 | €254,546 | €192,400 | €9,113 | €16,351 | ▲ 79.4% |
| Deferred charges and accrued income490/1 | €455 | €9,134 | €11,913 | €11,770 | €11,780 | ▲ 0.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €869,798 | €792,465 | €782,578 | €367,156 | €379,235 | ▲ 3.3% |
| Equity10/15 | €414,953 | €449,226 | €284,693 | €292,651 | €206,425 | ▼ 29.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €396,353 | €430,626 | €266,093 | €274,051 | €187,825 | ▼ 31.5% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | €17,728 | €17,728 | €17,728 | €17,728 | €17,728 | = |
| Distributable reserves133 | €376,766 | €411,038 | €248,366 | €256,323 | €170,098 | ▼ 33.6% |
| Amounts payable17/49 | €454,844 | €343,239 | €497,885 | €74,505 | €172,810 | ▲ 132% |
| Amounts payable after more than one year17 | €188,312 | €172,988 | €157,378 | - | - | - |
| Financial debts170/4 | €188,312 | €172,988 | €157,378 | - | - | - |
| Amounts payable within one year42/48 | €266,532 | €170,126 | €340,382 | €74,505 | €172,810 | ▲ 132% |
| Current portion of amounts payable after more than one year42 | €24,277 | €16,589 | €266,898 | €50,000 | €20,884 | ▼ 58.2% |
| Trade debts44 | €8,134 | €2,008 | €4,088 | - | €6,994 | - |
| Suppliers440/4 | €8,134 | €2,008 | €4,088 | - | €6,994 | - |
| Taxes, remuneration and social security45 | €7,651 | €9,927 | €58,342 | €24,505 | €42,053 | ▲ 71.6% |
| Taxes450/3 | €7,651 | €9,927 | €58,342 | €24,505 | €42,053 | ▲ 71.6% |
| Other amounts payable47/48 | €226,470 | €141,603 | €11,054 | - | €102,878 | - |
| Accrued charges and deferred income492/3 | - | €125 | €125 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €374,593 | €34,272 | €32,076 | €72,957 | €98,775 | ▲ 35.4% |
| + Depreciation and write-downs630 | €12,459 | €12,957 | €12,440 | €903 | €903 | = |
| Operating cash flow (approximation) | €387,052 | €47,229 | €44,517 | €73,861 | €99,678 | ▲ 35.0% |
| Investment in fixed assets (approximation) | - | €0 | -€2,710 | €236,852 | €0 | ▼ 100% |
| Change in cash | - | -€170,469 | -€62,146 | -€183,287 | €7,238 | ▲ 104% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 3.90
Current ratio from 1.38 to 3.90; short-term debt falls from €340,382 to €74,505.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 95 days late
2021
31-12
Financial
Highest result since 2018net €374,593 ▲7.5%
Net result €374,593, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €348,446
Net result €348,446 after one loss-making year.
31-12
Financial
Liquidity times 7current ratio 5.29
Current ratio from 0.72 to 5.29; short-term debt falls from €202,806 to €61,935.
31-12
Financial
Equity above €200,000Eq €391,942 ▲801%
Equity rises from €43,497 to €391,942.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€18,192
Net result drops to -€18,192, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Bornem · 1 establishment unit since 2015
Ground area
1,178 m²
Building footprint
152 m²
Volume, LiDAR
797 m³
Parcel 12024A0063/00A000, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
UST
since 20152.241.992.078
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12024A0063/00A000 | Flanders | 1,178 m² | 1 · 152 m² | 7.7 m · 2 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
25%
According to the 2025 annual accounts of UST and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 13,530 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
Founded21-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0628767955
Also
9925:BE0628767955
Registered
28-08-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.