XTBS
ActiveSummary
XTBS has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €45,383 and a net result of €5,659. Its solvency ranks better than 62% of 1,256 sector peers (NACE 42, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 04-04-2023 Normal situation
- Activity
- Civil engineering NACE 42130and 3 others
- Establishment unit
- 2.344.478.716 8501 Kortrijk, since 04-04-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 13-12-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €20,076
- ▼ 64.9%
- Turnover
- ≈ €150,000
- estimated
- Profit
- €5,659
- ▼ 83.7%
- Equity
- €45,383
- ▲ 14.2%
- Total assets
- €81,873
- ▲ 14.9%
Score breakdownraises riskFounded in 2023Size: total assets €81,873lowers riskLiquidity: current ratio 1.63, cash €41,984Equity €45,383 (55.4% of total assets)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 42, micro). It does better than 62% of them on solvency, 79% on liquidity, 53% on profitability and 59% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 27 days before the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 2 filings
2024 to 2025, 2 financial years
The operating result for 2025 is 76% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Civil engineering (NACE 42). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €36,117 | €1,409 |
| Intangible fixed assets | €901 | - |
| Financial fixed assets | - | €0 |
| Depreciation and write-downs of the year | €8,011 | €8,176 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as XTBS: civil engineering (NACE 42130). They are comparable in size and age: total assets between €45,000 and €723,000, founded between 1996 and 2023.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| XTBS Kortrijk | 2023 | €81,873 | €45,383 | €20,076 | €5,659 | 2025 |
| Klinkerwerken Nysen Bocholt | 2023 | €102,404 | €36,111 | €3,591 | €1,533 | 2025 |
| VOG Herentals | 2019 | €95,776 | €58,060 | €48,045 | €29,659 | 2025 |
| ALBE renobouw Vilvoorde | 2018 | €45,042 | €9,083 | €10,784 | €3,526 | 2025 |
| AFBRAAKWERKEN EN CONTAINERDIENST 'S JONGERS Heusden-Zolder | 1998 | €138,854 | -€21,030 | -€7,820 | -€26,025 | 2025 |
| SOLHEID CONSTRUCTION Malmedy | 1996 | €217,796 | €148,802 | -€477 | -€4,262 | 2025 |
| DE PAEPE BART Lierde | 1996 | €722,802 | €247,584 | €171,988 | €29,792 | 2025 |
They were chosen from the 27 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 39,278 companies had the same profile as XTBS has now. Two years later, 1.8% had gone bankrupt and 95.9% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of XTBS itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 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 39,278 companies, not a prediction for XTBS. 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Non-recurring operating income76A | €500 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,011 | €8,176 | ▲ 2.0% |
| Other operating charges640/8 | €377 | €365 | ▼ 3.0% |
| Gross operating margin9900 | €57,269 | €20,076 | ▼ 64.9% |
| Operating profit (loss)9901 | €48,881 | €11,535 | ▼ 76.4% |
| Financial income75/76B | €7 | €0 | ▼ 100% |
| Recurring financial income75 | €7 | €0 | ▼ 100% |
| Financial charges65/66B | €408 | €2,442 | ▲ 498% |
| Recurring financial charges65 | €408 | €2,442 | ▲ 498% |
| Profit (loss) for the period before taxes9903 | €48,480 | €9,093 | ▼ 81.2% |
| Income taxes67/77 | €13,756 | €3,434 | ▼ 75.0% |
| Profit (loss) for the period9904 | €34,724 | €5,659 | ▼ 83.7% |
| Profit (loss) for the period to be appropriated9905 | €34,724 | €5,659 | ▼ 83.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €71,260 | €81,873 | ▲ 14.9% |
| Fixed assets21/28 | €29,007 | €22,240 | ▼ 23.3% |
| Tangible fixed assets22/27 | €29,007 | €22,240 | ▼ 23.3% |
| Plant, machinery and equipment23 | €622 | €1,274 | ▲ 105% |
| Furniture and vehicles24 | €28,384 | €20,965 | ▼ 26.1% |
| Current assets29/58 | €42,253 | €59,633 | ▲ 41.1% |
| Amounts receivable within one year40/41 | €12,557 | €11,211 | ▼ 10.7% |
| Trade receivables40 | €24 | €0 | ▼ 100% |
| Other amounts receivable41 | €12,533 | €11,211 | ▼ 10.5% |
| Cash at bank and in hand54/58 | €25,180 | €41,984 | ▲ 66.7% |
| Deferred charges and accrued income490/1 | €4,516 | €6,438 | ▲ 42.6% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €71,260 | €81,873 | ▲ 14.9% |
| Equity10/15 | €39,724 | €45,383 | ▲ 14.2% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Reserves13 | €34,724 | €40,383 | ▲ 16.3% |
| Distributable reserves133 | €34,724 | €40,383 | ▲ 16.3% |
| Amounts payable17/49 | €31,535 | €36,490 | ▲ 15.7% |
| Amounts payable within one year42/48 | €31,535 | €36,490 | ▲ 15.7% |
| Trade debts44 | - | €1,089 | - |
| Suppliers440/4 | - | €1,089 | - |
| Taxes, remuneration and social security45 | - | €234 | - |
| Taxes450/3 | - | €234 | - |
| Other amounts payable47/48 | €31,535 | €35,166 | ▲ 11.5% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €34,724 | €5,659 | ▼ 83.7% |
| + Depreciation and write-downs630 | €8,011 | €8,176 | ▲ 2.0% |
| Operating cash flow (approximation) | €42,736 | €13,835 | ▼ 67.6% |
| Investment in fixed assets (approximation) | - | -€1,409 | - |
| Change in cash | - | €16,804 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Shareholders
- SMEKENS Xavier Julien Luc sole founder · 100% at incorporation
Capital transactions
- 06-04-2023 Incorporation · €5,000 · 100 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1”
Articles of association, deed of 06-04-2023 (in Dutch)
Network & group
XTBS shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of XTBS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
06-04
Gazette deed
IncorporationStarting capital €5,000 · Appointment: SMEKENS Xavier Julien Luc (director) · Founder · Registered office clause8 points ▸
- Incorporation, 28-03-2023
- Founder, SMEKENS Xavier Julien Luc
- Registered office clause, “8501 Kortrijk (Heule), Gemeenhof 49” (deed in Dutch)
- Founding capital, €5,000
- Director appointment, SMEKENS Xavier Julien Luc (director)
- Other provision, “beroepsverbod,onverenigbaarheid of onbekwaamheid” (deed in Dutch)
- Pre-incorporation commitments, “takeover, alle verbintenissen in naam van vennootschap in oprichting inclusief in akte opgenomen” (deed in Dutch)
- Other provision, “persoonlijke hoofdelijke aansprakelijkheid bestuursorgaan voor verbintenissen in oprichtingsperiode, tenzij overname in toepassing en binnen termijnen artikel 2…” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
XTBS was incorporated on 4 April 2023 as a private limited company by one natural person, with a starting capital of €5,000.12 SMEKENS Xavier Julien Luc is director of the company, appointed in the act of 06-04-2023.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
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 0800.400.151
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34016A0374/00H000 | Flanders | 1,256 m² | 1 · 273 m² | 9.0 m · 2 |