USTAM
ActiveSummary
USTAM has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €39,951 and a net result of €2,242. Equity is growing by ~15.7% per year across the filed fiscal years. Its solvency ranks better than 70% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▼-6
Solvency89▲+16
Growth78=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity tight (current ratio 1.27 against 0.76 in 2023; short-term debt: 35.8% and cash: 30.5% of total assets), and 35.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
64.2%
Return on assets
3.6%
Age of the figures
21 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
30 d early
2022
31 d early
2021
33 d early
2020
33 d early
2019
87 d late
← 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 13 days before 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€39,951▲ 5.9%
2023 · €37,709
Total assets
€62,192▼ 20.7%
2023 · €78,413
Net result
€2,242▼ 65.2%
2023 · €6,438
Working capital
€6,004
2023 · -€8,900
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line20202021202220232024
Operating result€6,039€19,754▲ 227%-€9,710€8,867€2,497▼ 71.8%
Net result€4,652within the sector's middle half€18,791within the sector's middle half▲ 304%-€10,985below the sector's middle half€6,438within the sector's middle half€2,242within the sector's middle half▼ 65.2%
Equity€18,465below the sector's middle half▲ 33.7%€37,256within the sector's middle half▲ 102%€31,272within the sector's middle half▼ 16.1%€37,709within the sector's middle half▲ 20.6%€39,951within the sector's middle half▲ 5.9%
Total assets€75,418within the sector's middle half▼ 14.6%€90,138within the sector's middle half▲ 19.5%€96,047within the sector's middle half▲ 6.6%€78,413within the sector's middle half▼ 18.4%€62,192below the sector's middle half▼ 20.7%
Debt€56,952▼ 23.6%€52,882▼ 7.1%€64,776▲ 22.5%€40,704▼ 37.2%€22,242▼ 45.4%
Working capital-€2,907▲ 91.0%€5,638-€22,267-€8,900▲ 60.0%€6,004
Solvency24.5%within the sector's middle half▲ 8.8pp41.3%within the sector's middle half▲ 16.8pp32.6%within the sector's middle half▼ 8.8pp48.1%within the sector's middle half▲ 15.5pp64.2%within the sector's middle half▲ 16.1pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
The operating result falls in 2024; 2024 is 72% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €62,192
Fixed assets
€33,947 ▼ 32.2%
Current assets
€28,245 ▼ 0.4%
Equity and liabilities €62,192
Equity
€39,951 ▲ 5.9%
Debt
€22,242 ▼ 45.4%
Debt's share of the balance-sheet total falls from 51.9% to 35.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€18,617▼
2023 · €27,913
Cash flow
€18,362▼
2023 · €25,483
Current ratio
1.27▲
2023 · 0.76
Debt to equity
0.56▼
2023 · 1.08
ROE
5.6%▼
2023 · 17.1%
ROA
3.6%▼
2023 · 8.2%
Interest coverage
16.53▲
2023 · 15.50
Debt ≤ 1 year
€22,242▼
2023 · €37,246
Income taxes
€983▲
2023 · €647
Staff costs
€639▲
2023 · €176
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,047 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,047 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €5,285 | €1,573 | €176 | €639 | ▲ 263% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,174 | €9,762 | €18,364 | €19,046 | €16,120 | ▼ 15.4% |
| Other operating charges640/8 | - | €771 | €549 | €358 | €1,061 | ▲ 196% |
| Gross operating margin9900 | €36,135 | €35,573 | €10,776 | €28,447 | €20,317 | ▼ 28.6% |
| Operating profit (loss)9901 | €6,039 | €19,754 | -€9,710 | €8,867 | €2,497 | ▼ 71.8% |
| Financial income75/76B | - | - | €920 | €18 | €1,854 | ▲ 10,128% |
| Recurring financial income75 | - | - | €920 | €18 | €1,854 | ▲ 10,128% |
| Financial charges65/66B | - | €157 | €2,195 | €1,801 | €1,126 | ▼ 37.4% |
| Recurring financial charges65 | €1,387 | €157 | €2,195 | €1,801 | €1,126 | ▼ 37.4% |
| Profit (loss) for the period before taxes9903 | €4,652 | €19,597 | -€10,985 | €7,085 | €3,225 | ▼ 54.5% |
| Income taxes67/77 | - | €806 | - | €647 | €983 | ▲ 52.0% |
| Profit (loss) for the period9904 | €4,652 | €18,791 | -€10,985 | €6,438 | €2,242 | ▼ 65.2% |
| Profit (loss) for the period to be appropriated9905 | €4,652 | €18,791 | -€10,985 | €6,438 | €2,242 | ▼ 65.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75,418 | €90,138 | €96,047 | €78,413 | €62,192 | ▼ 20.7% |
| Formation expenses20 | €1,410 | €826 | €243 | - | - | - |
| Fixed assets21/28 | €46,289 | €42,811 | €68,870 | €50,067 | €33,947 | ▼ 32.2% |
| Intangible fixed assets21 | €483 | €283 | €83 | - | - | - |
| Tangible fixed assets22/27 | €45,706 | €42,427 | €68,687 | €49,967 | €33,847 | ▼ 32.3% |
| Plant, machinery and equipment23 | - | €26,738 | €22,586 | €18,435 | €14,284 | ▼ 22.5% |
| Furniture and vehicles24 | - | €15,689 | €46,100 | €31,532 | €19,563 | ▼ 38.0% |
| Financial fixed assets28 | €100 | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €27,719 | €46,501 | €26,934 | €28,346 | €28,245 | ▼ 0.4% |
| Stocks and contracts in progress3 | €10,507 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €380 | €16,250 | €18,625 | €11,646 | €9,306 | ▼ 20.1% |
| Trade receivables40 | - | €15,268 | €6,279 | €10,358 | €9,306 | ▼ 10.2% |
| Other amounts receivable41 | - | €982 | €12,346 | €1,288 | - | - |
| Cash at bank and in hand54/58 | €16,832 | €30,251 | €8,309 | €16,700 | €18,939 | ▲ 13.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75,418 | €90,138 | €96,047 | €78,413 | €62,192 | ▼ 20.7% |
| Equity10/15 | €18,465 | €37,256 | €31,272 | €37,709 | €39,951 | ▲ 5.9% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€1,535 | €17,256 | €11,272 | €17,709 | €19,951 | ▲ 12.7% |
| Amounts payable17/49 | €56,952 | €52,882 | €64,776 | €40,704 | €22,242 | ▼ 45.4% |
| Amounts payable after more than one year17 | €26,327 | €12,019 | €15,575 | €3,458 | - | - |
| Financial debts170/4 | - | €12,019 | €15,575 | €3,458 | - | - |
| Amounts payable within one year42/48 | €30,625 | €40,863 | €49,201 | €37,246 | €22,242 | ▼ 40.3% |
| Current portion of amounts payable after more than one year42 | - | €8,986 | €17,981 | €8,509 | €3,458 | ▼ 59.4% |
| Trade debts44 | €541 | €1,089 | - | €6,599 | €3,089 | ▼ 53.2% |
| Suppliers440/4 | - | €1,089 | - | €6,599 | €3,089 | ▼ 53.2% |
| Taxes, remuneration and social security45 | - | €7,327 | €12,005 | €4,486 | €3,167 | ▼ 29.4% |
| Taxes450/3 | - | €719 | €11,597 | €1,078 | €2,485 | ▲ 130% |
| Remuneration and social security454/9 | - | €6,608 | €408 | €3,408 | €682 | ▼ 80.0% |
| Other amounts payable47/48 | - | €23,460 | €19,216 | €17,652 | €12,528 | ▼ 29.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,652 | €18,791 | -€10,985 | €6,438 | €2,242 | ▼ 65.2% |
| + Depreciation and write-downs630 | €10,174 | €9,762 | €18,364 | €19,046 | €16,120 | ▼ 15.4% |
| Operating cash flow (approximation) | €14,826 | €28,553 | €7,379 | €25,483 | €18,362 | ▼ 27.9% |
| Investment in fixed assets (approximation) | - | -€6,283 | -€44,423 | -€243 | €0 | ▲ 100% |
| Change in cash | - | €13,419 | -€21,942 | €8,391 | €2,239 | ▼ 73.3% |
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
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €6,438
Net result €6,438 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2019net €18,791 ▲304%
Operating result €19,754, net result €18,791, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €4,652
Net result €4,652 after one loss-making year.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
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, Genk · 1 establishment unit since 2018
Ground area
743 m²
Building footprint
131 m²
Volume, LiDAR
417 m³
Parcel 71302A0280/00R000, Flanders · tallest building 8.8 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Steenakker 36, 3600 Genk
since 20182.276.741.042
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71302A0280/00R000 | Flanders | 743 m² | 1 · 131 m² | 8.8 m · 1 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 20,025 companies in sector 43320 we hold annual accounts for 9,134. 7,199 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
Founded12-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0697830866
Registered
26-07-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.