Equity
Debts exceed assets in financial year 2024.
Debts exceed assets in financial year 2024.
The micro format states no turnover.
Of this, €116,875 falls due within a year.
In 2024, 3 people joined and nobody left.
Short-term debts rose from €71,715 to €116,875.
Lower net result than 95% of companies in specialised construction. Sector median €9,467 · 35,925 companies.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 8% of them on solvency, 4% on liquidity, 4% on profitability and 3% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 7,639 companies had the same profile as Xeiling has now. Each dot stands for 20 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Xeiling itself: 6.9% within 12 months.
The method was tested on the 497,447 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.
| 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 7,639 companies, not a prediction for Xeiling. 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.
Liquidity is insufficient, with a current ratio of 0.79 (1.28 in 2023), below 1. Short-term debt is 92.6% and cash 4.3% of total assets. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 2 accounts on average 53 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Xeiling Izegem | €126,187 | €62,034 | -1.0% | - |
| RITEL Courcelles | €134,301 | €58,469 | 42.8% | - |
| NEOL MY THUIS Braine-l'Alleud | €152,601 | €56,706 | 26.4% | - |
| C.C.T. Sint-Pieters-Leeuw | €102,705 | €64,204 | 51.0% | - |
| TLS-ANTWERP Antwerp | €122,229 | €49,799 | 77.4% | - |
| TABECON Izegem | €118,604 | €74,509 | 19.4% | - |
| MDE Concept De Haan | €107,976 | €56,224 | 36.4% | - |
These companies have the same main activity as Xeiling: other building finishing work (NACE 43350). They are comparable in size and age: total assets between €103,000 and €153,000, founded between 2021 and 2023.
The computed 12-month bankruptcy probability of Xeiling is 6.9% (elevated). The 2024 annual accounts show negative equity (-€1,236) and a net result of -€37,589.
Its solvency ranks better than 9% of 35,956 sector peers (NACE 43, financial year 2024). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 10 November 2026.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €230,000. Estimated: probably between €160,000 and €390,000.
Higher than 9% of 35,956 companies in 2024.
Higher than 14% of 35,354 companies in 2024.
Higher than 6% of 35,538 companies in 2024.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
In 2024, 3 people joined and nobody left.
| Line | Trend | 2024 | 2023 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
126,187 | 134,621 | |
21/28 |
34,005 | 42,912 | |
22/27 |
34,005 | 42,912 | |
23 |
248 | 328 | |
24 |
33,757 | 42,584 | |
29/58 |
92,182 | 91,709 | |
40/41 |
84,970 | 65,470 | |
40 |
26,685 | 48,149 | |
41 |
58,285 | 17,322 | |
54/58 |
5,483 | 26,238 | |
490/1 |
1,728 | - | |
| Balance sheet: equity and liabilities | |||
10/49 |
126,187 | 134,621 | |
10/15 |
-1,236 | 36,352 | |
10/11 |
30,000 | 30,000 | |
13 |
6,352 | 6,352 | |
133 |
6,352 | 6,352 | |
14 |
-37,589 | - | |
17/49 |
127,423 | 98,269 | |
17 |
9,739 | 25,744 | |
170/4 |
9,739 | 25,744 | |
42/48 |
116,875 | 71,715 | |
42 |
17,176 | 15,154 | |
44 |
69,698 | 31,406 | |
440/4 |
69,698 | 31,406 | |
45 |
29,986 | 25,156 | |
450/3 |
8,177 | 25,156 | |
454/9 |
21,809 | - | |
47/48 |
15 | - | |
492/3 |
809 | 809 | |
| Income statement | |||
9900 |
62,034 | 25,099 | |
62 |
72,409 | 7,564 | |
630 |
9,707 | 5,488 | |
640/8 |
9,387 | 1,283 | |
66A |
622 | 324 | |
9901 |
-30,090 | 10,440 | |
75/76B |
428 | 976 | |
75 |
428 | 976 | |
65/66B |
7,821 | 1,237 | |
65 |
7,821 | 1,237 | |
9903 |
-37,483 | 10,179 | |
67/77 |
106 | 3,827 | |
9904 |
-37,589 | 6,352 | |
9905 |
-37,589 | 6,352 | |
| Appropriation of the result | |||
9906 |
-37,589 | 6,352 | |
691/2 |
- | 6,352 | |
6921 |
- | 6,352 | |
| Social balance sheet | |||
9087 |
1.2 | 0.3 | |
Hours worked1013 |
1,705 | 208 | |
| Document | |||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 03-10-2025.
| Line | Trend | 2024 | 2023 |
|---|---|---|---|
| -20,383 | 15,928 | ||
| -27,882 | 11,840 | ||
| 800 | 48,400 | ||
| -20,755 | - | ||
| -24,693 | 19,994 | ||
| -1.0% | 27.0% | ||
| 0.79 | 1.28 | ||
| - | 2.70 | ||
| - | 17.5% | ||
| -29.8% | 4.7% | ||
| -2.61 | 12.87 |
A ratio outside any meaningful range has been withheld (balance sheet total €126,187, equity -€1,236).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2024 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 3 | 0 |
| full-time | 2 | 0 |
| part-time | 1 | 0 |
| in full-time equivalents | 2.8 | 0 |
| 1.2 | 0.3 | |
| On a permanent contract | 3 | 0 |
| Joined | 3 | 1 |
| Left | 0 | 1 |
| Training hours | 0 | 0 |
Source: social balance sheet in the 2023 to 2024 annual accounts
| Item | 2024 | 2023 |
|---|---|---|
| Tangible fixed assets | €800 | €48,400 |
| €9,707 | €5,488 |
Source: notes to the 2023 to 2024 annual accounts (statement of fixed assets)
The operating result for 2024 is a loss of €30,090, after a profit of €10,440 in 2023.
Equity is negative. Debt (€127,423) exceeds the balance-sheet total (€126,187).
Xeiling has no parent and no holdings in its annual accounts. DelTho is the only director.
| DelTho
registered office since 24-10-2022 |
founded in 2022 0792.777.535 |
| FABALICIOUS FOODS via FONOX, at Xeiling until 2025 · Director (not named in the articles) · deed of 28-12-2023 founded in 2023 |
total assets €26,178 (2025) |
The network starts from the earlier ties.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Ardooisestraat 47 registered office 8870 Izegem | 28-10-2022 | 2.337.619.133 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 36492A0333/00Z007 | 259 m² | 1 · 82 m² | 10.1 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0792.996.774
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