XTOCON
ActiveSummary
XTOCON has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.9m and a net result of €461,197. Equity has been growing by about 19% per year since 2019. Its solvency ranks better than 95% of 2,559 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 27-02-2013 Normal situation
- Activity
- Engineering and related technical consultancy, excluding land surveyors NACE 71121and 1 other
- Establishment unit
- 2.217.408.023 3001 Leuven, since 01-03-2013
- Financial year end
- 30 September
- Peppol
- Reachable since 10-11-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €594,885
- ▼ 34.3%
- Turnover
- ≈ €1.5m
- estimated
- Profit
- €461,197
- ▼ 30.6%
- Equity
- €3.9m
- ▲ 4.4%
- Total assets
- €4.0m
- ▲ 4.3%
Score breakdownraises riskLiquidity: current ratio 96.27, cash €256,083, halvedlowers riskSize: total assets €4.0mFigures for financial year 2025 (filed on 12-12-2025)Sector: Architectural and engineering activities; technical testing and analysis (NACE 71)Show the evidence
Checked score
Fewer than 1 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 71, small). It does better than 92% of them on solvency, 68% on liquidity, 78% on profitability and 51% on growth.
The bankruptcy probability was computed on 02-11-2026 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 7 accounts on average 50 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 12-12-2025 PDF all 12 filings
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 34% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
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 Architectural and engineering activities; technical testing and analysis (NACE 71). 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 | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €17,415 | €0 | - | - | €1,583 |
| Depreciation and write-downs of the year | €6,865 | €7,738 | €7,830 | €917 | €844 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.008m | €0.007m | €0.008m | €0.008m | €0.001m | €0.001m | ▼ 8.0% |
| Other operating charges640/8 | - | - | €0.001m | €0.002m | €455 | €0.002m | €0.002m | ▼ 1.2% |
| Gross operating margin9900 | €0.5m | €0.7m | €0.7m | €1.1m | €1.0m | €0.9m | €0.6m | ▼ 34.3% |
| Operating profit (loss)9901 | €0.4m | €0.7m | €0.7m | €1.1m | €1.0m | €0.9m | €0.6m | ▼ 34.4% |
| Financial income75/76B | - | - | €0.006m | €0.004m | €0.02m | €0.07m | €0.1m | ▲ 92.7% |
| Recurring financial income75 | €0.005m | €0.005m | €0.006m | €0.004m | €0.02m | €0.07m | €0.1m | ▲ 92.7% |
| Financial charges65/66B | - | - | €0.001m | €0.03m | -€0.02m | €0.01m | €0.02m | ▲ 83.0% |
| Recurring financial charges65 | €0.008m | €0.001m | €0.001m | €0.03m | -€0.02m | €0.01m | €0.02m | ▲ 83.0% |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.7m | €0.7m | €1.1m | €1.1m | €1.0m | €0.7m | ▼ 27.1% |
| Income taxes67/77 | €0.2m | €0.2m | €0.2m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 19.1% |
| Profit (loss) for the period9904 | €0.3m | €0.5m | €0.5m | €0.7m | €0.8m | €0.7m | €0.5m | ▼ 30.6% |
| Transfer from tax-exempt reserves789 | - | - | €0.1m | €0.2m | €0.1m | €0.2m | €0.02m | ▼ 88.5% |
| Transfer to tax-exempt reserves689 | - | - | €0.2m | €0.3m | €0.1m | €0.3m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.4m | €0.4m | €0.6m | €0.8m | €0.6m | €0.5m | ▼ 21.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.7m | €1.9m | €2.2m | €2.6m | €3.3m | €3.8m | €4.0m | ▲ 4.3% |
| Fixed assets21/28 | €0.01m | €0.007m | €0.02m | €0.01m | €0.002m | €0.001m | €0.002m | ▲ 59.0% |
| Tangible fixed assets22/27 | €0.01m | €0.007m | €0.02m | €0.01m | €0.002m | €0.001m | €0.002m | ▲ 59.0% |
| Plant, machinery and equipment23 | - | - | €0.01m | €0.008m | €441 | €44 | €0.001m | ▲ 33× |
| Furniture and vehicles24 | - | - | €0.003m | €0.002m | €0.002m | €0.001m | €0.001m | ▼ 57.3% |
| Current assets29/58 | €1.7m | €1.9m | €2.2m | €2.6m | €3.3m | €3.8m | €4.0m | ▲ 4.3% |
| Amounts receivable after more than one year29 | - | - | €0.3m | - | - | - | - | - |
| Other amounts receivable291 | - | - | €0.3m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.09m | €0.2m | €0.2m | €0.4m | €0.3m | €0.2m | €0.2m | ▲ 33.0% |
| Trade receivables40 | - | - | €0.2m | €0.3m | €0.3m | €0.2m | €0.2m | ▲ 26.8% |
| Other amounts receivable41 | - | - | €0.05m | €0.07m | - | - | €0.01m | - |
| Current investments50/53 | €0.2m | €0.2m | €0.3m | €0.7m | €2.4m | €3.0m | €3.4m | ▲ 16.8% |
| Cash at bank and in hand54/58 | €1.3m | €1.3m | €1.3m | €1.6m | €0.6m | €0.7m | €0.3m | ▼ 60.7% |
| Deferred charges and accrued income490/1 | - | - | €0.002m | €0.001m | €0.002m | €0.002m | €0.002m | ▼ 5.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.7m | €1.9m | €2.2m | €2.6m | €3.3m | €3.8m | €4.0m | ▲ 4.3% |
| Equity10/15 | €1.4m | €1.9m | €2.2m | €2.6m | €3.2m | €3.7m | €3.9m | ▲ 4.4% |
| Contributions10/11 | €0.02m | - | €0.02m | €100 | €100 | €100 | €100 | = |
| Contributions outside capital11 | - | - | €0.02m | - | - | - | - | - |
| Other1109/19 | - | - | €0.02m | - | - | - | - | - |
| Reserves13 | €1.4m | €1.9m | €2.2m | €2.6m | €3.2m | €3.7m | €3.9m | ▲ 4.4% |
| Non-distributable reserves130/1 | - | - | €0.002m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.002m | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | €0.5m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 3.4% |
| Distributable reserves133 | - | - | €1.7m | €1.9m | €2.5m | €3.0m | €3.2m | ▲ 6.3% |
| Amounts payable17/49 | €0.3m | €0.04m | €0.03m | €0.06m | €0.08m | €0.05m | €0.04m | ▼ 7.8% |
| Amounts payable within one year42/48 | €0.3m | €0.04m | €0.02m | €0.06m | €0.08m | €0.04m | €0.04m | ▼ 7.9% |
| Trade debts44 | €0.08m | €0.02m | €0.001m | €0.004m | €0.006m | €0.002m | €419 | ▼ 82.1% |
| Suppliers440/4 | - | - | €0.001m | €0.004m | €0.006m | €0.002m | €419 | ▼ 82.1% |
| Taxes, remuneration and social security45 | - | - | €0.02m | €0.06m | €0.07m | €0.04m | €0.03m | ▼ 16.3% |
| Taxes450/3 | - | - | €0.02m | €0.05m | €0.07m | €0.04m | €0.03m | ▼ 16.3% |
| Remuneration and social security454/9 | - | - | €0.003m | €0.003m | €0.002m | - | - | - |
| Other amounts payable47/48 | - | - | €0.002m | €0.003m | €0.008m | €0.001m | €0.006m | ▲ 710% |
| Accrued charges and deferred income492/3 | - | - | €0.001m | €0.002m | €0.001m | €0.001m | €0.001m | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €284,034 | €484,107 | €494,487 | €739,249 | €767,652 | €664,721 | €461,197 | ▼ 30.6% |
| + Depreciation and write-downs630 | €11,654 | €7,645 | €6,865 | €7,738 | €7,830 | €917 | €844 | ▼ 8.0% |
| Operating cash flow (approximation) | €295,688 | €491,751 | €501,352 | €746,987 | €775,482 | €665,638 | €462,041 | ▼ 30.6% |
| Investment in fixed assets (approximation) | - | €0 | -€17,415 | -€92 | €92 | €0 | -€1,583 | - |
| Change in cash | - | -€72,316 | €22,899 | €288,075 | -€981,755 | €47,693 | -€395,486 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,811 companies had the same profile as XTOCON has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of XTOCON itself: < 0.1% 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 17,811 companies, not a prediction for XTOCON. 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.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 12-12-2025 | 2025-00580479 | |
| 30-09-2024 | abbreviated format | 24-02-2025 | 2025-00038210 | |
| 30-09-2023 | abbreviated format | 12-04-2024 | 2024-00061784 | |
| 30-09-2022 | micro format | 12-04-2023 | 2023-00057490 | |
| 30-09-2021 | micro format | 09-04-2022 | 2022-20001907 | |
| 30-09-2020 | micro format | 22-02-2021 | 2021-06400161 | |
| 30-09-2019 | micro format | 06-04-2020 | 2020-08700299 | |
| 30-09-2018 | micro format | 21-03-2019 | 2019-08200012 | |
| 30-09-2017 | micro format | 23-03-2018 | 2018-07700309 | |
| 30-09-2016 | abbreviated format | 28-04-2017 | 2017-11000539 |
Board & ownership
Directors
Owners and capital
Owners
Network & group
XTOCON shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of XTOCON. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24432D0022/00S000 | Flanders | 4,897 m² | 1 · 201 m² | 0.0 m |