YSER
ActiveSummary
YSER has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.0m and a net result of €843,599. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 30% of 2309 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-1
Solvency45▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210,000 at 30 days acceptable
Liquidity short (current ratio 0.89 against 0.54 in 2024; short-term debt: 12.6% and cash: 1.3% of total assets), and 79.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
20.1%
Return on assets
5.7%
Age of the figures
9 mo
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
14 d early
2023
14 d early
2022
13 d early
2021
16 d early
2020
17 d late
2019
21 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 6 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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.
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, abbreviated schema
In the rankings
#4 company by total assets in Bruges, Administrative and support services sector#6 company by equity in Bruges, Administrative and support services sector
Equity
€3.0m▲ 11.2%
2024 · €2.7m
Total assets
€14.8m▼ 10.8%
2024 · €16.6m
Net result
€843,599▲ 29.4%
2024 · €652,115
Working capital
-€210,325▲ 87.7%
2024 · -€1.7m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support 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
Line20212022202320242025
Operating result€176,080-€247,100-€213,954▲ 13.4%€738,776€1.1m▲ 51.9%
Net result€51,161within the sector's middle half-€329,708below the sector's middle half-€279,202below the sector's middle half▲ 15.3%€652,115above the sector's middle half€843,599above the sector's middle half▲ 29.4%
Equity€3.1mabove the sector's middle half▲ 1.7%€2.7mabove the sector's middle half▼ 10.8%€2.5mabove the sector's middle half▼ 10.2%€2.7mabove the sector's middle half▲ 8.7%€3.0mabove the sector's middle half▲ 11.2%
Total assets€13.7mabove the sector's middle half▼ 2.6%€12.0mabove the sector's middle half▼ 12.6%€12.6mabove the sector's middle half▲ 4.8%€16.6mabove the sector's middle half▲ 31.9%€14.8mabove the sector's middle half▼ 10.8%
Debt€10.6m▼ 3.8%€9.3m▼ 13.1%€10.1m▲ 9.2%€13.9m▲ 37.5%€11.8m▼ 15.1%
Working capital-€549,240below the sector's middle half▲ 75.5%-€809,947below the sector's middle half▼ 47.5%€34,332within the sector's middle half-€1.7mbelow the sector's middle half-€210,325below the sector's middle half▲ 87.7%
Solvency22.3%within the sector's middle half▲ 0.9pp22.8%within the sector's middle half▲ 0.5pp19.5%within the sector's middle half▼ 3.3pp16.1%below the sector's middle half▼ 3.4pp20.1%within the sector's middle half▲ 4.0pp
Current ratio0.79within the sector's middle half▲ 0.600.50below the sector's middle half▼ 0.291.02within the sector's middle half▲ 0.520.54below the sector's middle half▼ 0.480.89within the sector's middle half▲ 0.35
Return on assets (ROA)0.4%within the sector's middle half▲ 3.1pp-2.8%below the sector's middle half▼ 3.1pp-2.2%below the sector's middle half▲ 0.5pp3.9%within the sector's middle half▲ 6.2pp5.7%within the sector's middle half▲ 1.8pp
Staff (FTE)0.2below the sector's middle half▼ 66.7%0.3below the sector's middle half▲ 50.0%0.3within the sector's middle half=0.2within the sector's middle half▼ 33.3%0.8within the sector's middle half▲ 300%
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 52% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.8m
Fixed assets
€13.1m ▼ 10.1%
Current assets
€1.7m ▼ 16.5%
Equity and liabilities €14.8m
Equity
€3.0m ▲ 11.2%
Debt
€11.8m ▼ 15.1%
Debt's share of the balance-sheet total falls from 83.9% to 79.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.6m▼
2024 · €1.9m
Cash flow
€1.3m▼
2024 · €1.8m
Debt to equity
3.98▼
2024 · 5.21
ROE
28.5%▲
2024 · 24.5%
Interest coverage
5.70▼
2024 · 13.90
Debt ≤ 1 year
€1.9m▼
2024 · €3.7m
Debt > 1 year
€9.9m▼
2024 · €10.2m
Income taxes
€1,575▲
2024 · €996
Staff costs
€45,365▲
2024 · €8,640
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,815 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 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% | 1.7% |
| 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 75% 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 3,815 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €642,161 | €0 | €3,300 | €1.7m | €1.5m | ▼ 13.8% |
| Remuneration, social security and pensions62 | €3,688 | €10,989 | €2,572 | €8,640 | €45,365 | ▲ 425% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €579,558 | €500,513 | €494,549 | €1.2m | €461,417 | ▼ 61.1% |
| Other operating charges640/8 | €44,223 | €43,094 | €57,160 | €36,732 | €35,075 | ▼ 4.5% |
| Non-recurring operating charges66A | - | - | €1,455 | €0 | - | - |
| Gross operating margin9900 | €803,549 | €307,496 | €341,782 | €2.0m | €1.7m | ▼ 15.6% |
| Operating profit (loss)9901 | €176,080 | -€247,100 | -€213,954 | €738,776 | €1.1m | ▲ 51.9% |
| Financial income75/76B | €5,754 | €5,311 | €51,809 | €52,908 | €568 | ▼ 98.9% |
| Recurring financial income75 | €5,754 | €5,311 | €21,809 | €52,908 | €568 | ▼ 98.9% |
| Non-recurring financial income76B | - | - | €30,000 | €0 | - | - |
| Financial charges65/66B | €110,936 | €71,793 | €113,230 | €138,573 | €277,721 | ▲ 100% |
| Recurring financial charges65 | €110,936 | €71,690 | €113,230 | €138,573 | €277,721 | ▲ 100% |
| Non-recurring financial charges66B | - | €103 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €70,899 | -€313,581 | -€275,374 | €653,111 | €845,174 | ▲ 29.4% |
| Transfer from deferred taxes780 | €0 | - | - | - | - | - |
| Income taxes67/77 | €19,738 | €16,127 | €3,827 | €996 | €1,575 | ▲ 58.2% |
| Profit (loss) for the period9904 | €51,161 | -€329,708 | -€279,202 | €652,115 | €843,599 | ▲ 29.4% |
| Transfer from tax-exempt reserves789 | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €51,161 | -€329,708 | -€279,202 | €652,115 | €843,599 | ▲ 29.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.7m | €12.0m | €12.6m | €16.6m | €14.8m | ▼ 10.8% |
| Fixed assets21/28 | €11.6m | €11.2m | €10.7m | €14.6m | €13.1m | ▼ 10.1% |
| Tangible fixed assets22/27 | €11.6m | €11.2m | €10.7m | €14.6m | €13.1m | ▼ 10.1% |
| Land and buildings22 | €11.6m | €11.1m | €10.6m | €14.5m | €13.0m | ▼ 10.6% |
| Plant, machinery and equipment23 | - | - | - | - | €15,129 | - |
| Furniture and vehicles24 | €39,357 | €34,763 | €32,968 | €33,772 | €92,901 | ▲ 175% |
| Financial fixed assets28 | €14,050 | €14,050 | €14,050 | €14,650 | €14,650 | = |
| Current assets29/58 | €2.1m | €815,410 | €1.9m | €2.0m | €1.7m | ▼ 16.5% |
| Amounts receivable within one year40/41 | €585,368 | €452,033 | €1.7m | €1.6m | €1.4m | ▼ 11.0% |
| Trade receivables40 | €225,328 | €181,148 | €295,245 | €179,898 | €150,403 | ▼ 16.4% |
| Other amounts receivable41 | €360,040 | €270,885 | €1.4m | €1.4m | €1.3m | ▼ 10.3% |
| Cash at bank and in hand54/58 | €1.5m | €354,567 | €175,633 | €349,967 | €196,002 | ▼ 44.0% |
| Deferred charges and accrued income490/1 | €0 | €8,810 | €13,488 | €2,464 | €8,333 | ▲ 238% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.7m | €12.0m | €12.6m | €16.6m | €14.8m | ▼ 10.8% |
| Equity10/15 | €3.1m | €2.7m | €2.5m | €2.7m | €3.0m | ▲ 11.2% |
| Contributions10/11 | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | = |
| Revaluation surpluses12 | €3.0m | €3.0m | €3.0m | €2.6m | €2.0m | ▼ 21.2% |
| Reserves13 | €17,045 | €17,045 | €17,045 | €17,045 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | €17,045 | €17,045 | €0 | - | - | - |
| Reserves not available under the articles1311 | €17,045 | €17,045 | €0 | - | - | - |
| Distributable reserves133 | - | - | €17,045 | €17,045 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€2.0m | -€2.3m | -€2.6m | -€1.9m | -€1.1m | ▲ 44.6% |
| Amounts payable17/49 | €10.6m | €9.3m | €10.1m | €13.9m | €11.8m | ▼ 15.1% |
| Amounts payable after more than one year17 | €8.0m | €7.6m | €8.3m | €10.2m | €9.9m | ▼ 3.0% |
| Financial debts170/4 | €3.0m | €2.8m | €3.4m | €5.3m | €5.0m | ▼ 6.5% |
| Other amounts payable178/9 | €5.0m | €4.8m | €4.8m | €4.9m | €4.9m | ▲ 0.7% |
| Amounts payable within one year42/48 | €2.7m | €1.6m | €1.8m | €3.7m | €1.9m | ▼ 49.5% |
| Current portion of amounts payable after more than one year42 | €265,153 | €243,828 | €312,428 | €955,688 | €532,063 | ▼ 44.3% |
| Financial debts43 | €907,000 | €0 | - | €1.3m | €0 | ▼ 100% |
| Credit institutions430/8 | €907,000 | €0 | - | €1.3m | €0 | ▼ 100% |
| Trade debts44 | €40,624 | €12,869 | €23,262 | €67,808 | €14,868 | ▼ 78.1% |
| Suppliers440/4 | €40,624 | €12,869 | €23,262 | €67,808 | €14,868 | ▼ 78.1% |
| Taxes, remuneration and social security45 | €12,386 | €35,327 | €44,657 | €39,585 | €39,825 | ▲ 0.6% |
| Taxes450/3 | €11,517 | €34,485 | €44,155 | €35,208 | €37,775 | ▲ 7.3% |
| Remuneration and social security454/9 | €869 | €843 | €502 | €4,377 | €2,050 | ▼ 53.2% |
| Other amounts payable47/48 | €1.4m | €1.3m | €1.4m | €1.3m | €1.3m | ▼ 4.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | €45,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51,161 | -€329,708 | -€279,202 | €652,115 | €843,599 | ▲ 29.4% |
| + Depreciation and write-downs630 | €579,558 | €500,513 | €494,549 | €1.2m | €461,417 | ▼ 61.1% |
| Operating cash flow (approximation) | €630,719 | €170,805 | €215,348 | €1.8m | €1.3m | ▼ 29.0% |
| Investment in fixed assets (approximation) | - | -€63,345 | -€19,527 | -€5.1m | €1.0m | ▲ 120% |
| Change in cash | - | -€1.2m | -€178,934 | €174,334 | -€153,965 | ▼ 188% |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €843,599 ▲29.4%
Operating result €1.1m, net result €843,599, both a record.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €652,115
Net result €652,115 after 2 loss-making years.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity doublescurrent ratio 1.02
Current ratio from 0.50 to 1.02.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €51,161
Net result €51,161 after 3 loss-making years.
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 17 days late
2020
31-12
Financial
Equity above €2mEq €3.0m ▲706%
Equity rises from €373,527 to €3.0m.
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 21 days late
Show earlier events
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 23 days late
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2014
31-07
State Gazette act
General meeting · Director reappointment
Permanent representative · Auditor reappointment
2013
17-09
State Gazette act
General meeting · Director reappointment
Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Brugge · 1 establishment unit since 1999
Ground area
788 m²
Building footprint
387 m²
Volume, LiDAR
3,795 m³
Parcel 31027D0225/00A000, Flanders · tallest building 17.5 m, ±4 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
Gistelse Steenweg 423, 8200 Brugge
since 19992.091.676.128
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31027D0225/00A000 | Flanders | 788 m² | 1 · 387 m² | 17.5 m · 4 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
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
HUBISCO
Shared director
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
2 locations
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Of 24,517 companies in sector 82990 we hold annual accounts for 9,421. 2,600 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
Founded28-10-1998
Fiscal year end31-12
Activities, NACEBEL 2025
68321Property management for co-owned buildings (syndics)
82990Other business support services
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0464464605
Also
9925:BE0464464605
Registered
09-07-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.