Z-TECH
ActiveSummary
Z-TECH has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1.9m) and a net result of -€164,994. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▲+10
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.27 against 0.22 in 2024; short-term debt: 252.5% and cash: 28.5% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
-155.5%
Return on assets
-13.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1920212122232425
2019 to 2025 · latest year -€1.9m
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
27 d early
2023
34 d early
2022
13 d early
2021
1 d early
2021
4 d early
2020
3 d early
← 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 13 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€1.9m▼ 9.6%
2024 · -€1.7m
Total assets
€1.2m▲ 13.6%
2024 · €1.1m
Net result
-€164,994▲ 77.6%
2024 · -€735,682
Working capital
-€2.2m▼ 5.3%
2024 · -€2.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€127,585--€425,258-€1.1m▼ 149%-€647,393▲ 38.8%-€59,436▲ 90.8%
Net result€103,654--€408,104-€1.1m▼ 166%-€735,682▲ 32.3%-€164,994▲ 77.6%
Equity€515,435-€107,332▼ 79.2%-€979,092-€1.7m▼ 75.1%-€1.9m▼ 9.6%
Total assets€1.5m-€1.9m▲ 28.1%€1.2m▼ 36.0%€1.1m▼ 11.8%€1.2m▲ 13.6%
Debt€953,917-€1.8m▲ 86.1%€2.2m▲ 23.1%€2.8m▲ 27.2%€3.1m▲ 11.1%
Working capital€282,943--€413,210-€1.5m▼ 268%-€2.1m▼ 38.4%-€2.2m▼ 5.3%
Staff (FTE)10.6-10.1▼ 4.7%9.3▼ 7.9%7.1▼ 23.7%5.1▼ 28.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2025 Net result +78% on 2024. Cause not known from the registers.
- 2024 Equity -75% on 2023. Cause not known from the registers.
- 2023 Net result -166% on 2022. Cause not known from the registers.
- 2022 Equity -79% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €59,436 in 2025 against €647,393 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€371,552 ▼ 19.4%
Current assets
€837,004 ▲ 38.8%
Key figures and ratios
EBITDA
€105,021▲
2024 · -€480,068
Cash flow
-€537▲
2024 · -€568,357
Solvency
-155.5%▲
2024 · -161.2%
Current ratio
0.27▲
2024 · 0.22
Debt to equity
-1.64▼
2024 · -1.62
ROA
-13.7%▲
2024 · -69.2%
Interest coverage
1.00▲
2024 · -5.48
Debt ≤ 1 year
€3.1m▲
2024 · €2.7m
Income taxes
€837▲
2024 · €791
Staff costs
€1.1m▼
2024 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,943 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 6,943 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €252,977 | €769,992 | €1.2m | €1.2m | €1.1m | ▼ 6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,254 | €109,259 | €144,154 | €167,325 | €164,457 | ▼ 1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €75,906 | -€75,906 | - | €10,916 | - |
| Other operating charges640/8 | €842 | €7,291 | €75,516 | €23,508 | €2,789 | ▼ 88.1% |
| Non-recurring operating charges66A | - | - | - | - | €1,159 | - |
| Gross operating margin9900 | €418,658 | €537,190 | €254,706 | €769,257 | €1.3m | ▲ 65.1% |
| Operating profit (loss)9901 | €127,585 | -€425,258 | -€1.1m | -€647,393 | -€59,436 | ▲ 90.8% |
| Financial income75/76B | €30,142 | €47,854 | €14,542 | €160 | €62 | ▼ 61.4% |
| Recurring financial income75 | €30,142 | €47,854 | €14,542 | €160 | €62 | ▼ 61.4% |
| Non-recurring financial income76B | - | €0 | - | - | - | - |
| Financial charges65/66B | €18,571 | €30,700 | €41,395 | €87,659 | €104,784 | ▲ 19.5% |
| Recurring financial charges65 | €18,571 | €30,700 | €41,395 | €87,659 | €104,784 | ▲ 19.5% |
| Profit (loss) for the period before taxes9903 | €139,156 | -€408,104 | -€1.1m | -€734,892 | -€164,157 | ▲ 77.7% |
| Income taxes67/77 | €35,502 | - | €1,936 | €791 | €837 | ▲ 5.8% |
| Profit (loss) for the period9904 | €103,654 | -€408,104 | -€1.1m | -€735,682 | -€164,994 | ▲ 77.6% |
| Profit (loss) for the period to be appropriated9905 | €103,654 | -€408,104 | -€1.1m | -€735,682 | -€164,994 | ▲ 77.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.9m | €1.2m | €1.1m | €1.2m | ▲ 13.6% |
| Fixed assets21/28 | €293,990 | €525,947 | €545,588 | €460,951 | €371,552 | ▼ 19.4% |
| Intangible fixed assets21 | €35,782 | €273,676 | €429,464 | €388,618 | €316,904 | ▼ 18.5% |
| Tangible fixed assets22/27 | €227,353 | €221,416 | €116,123 | €72,334 | €54,649 | ▼ 24.4% |
| Plant, machinery and equipment23 | €40,443 | €139,785 | €87,253 | €48,989 | €28,095 | ▼ 42.7% |
| Furniture and vehicles24 | €29,594 | €24,725 | €28,870 | €23,345 | €17,356 | ▼ 25.7% |
| Other tangible fixed assets26 | €157,316 | - | - | - | €5,447 | - |
| Assets under construction and advance payments27 | - | €56,906 | €0 | - | €3,750 | - |
| Financial fixed assets28 | €30,855 | €30,855 | €0 | - | - | - |
| Current assets29/58 | €1.2m | €1.4m | €660,052 | €602,871 | €837,004 | ▲ 38.8% |
| Stocks and contracts in progress3 | €704,127 | €913,120 | €62,241 | - | - | - |
| Stocks30/36 | €704,127 | €913,120 | €62,241 | - | - | - |
| Amounts receivable within one year40/41 | €49,965 | €208,330 | €429,931 | €456,298 | €446,210 | ▼ 2.2% |
| Trade receivables40 | €40,400 | €187,202 | €403,202 | €430,520 | €446,191 | ▲ 3.6% |
| Other amounts receivable41 | €9,565 | €21,128 | €26,729 | €25,778 | €19 | ▼ 99.9% |
| Cash at bank and in hand54/58 | €407,842 | €200,494 | €118,394 | €86,383 | €344,388 | ▲ 299% |
| Deferred charges and accrued income490/1 | €13,428 | €34,521 | €49,485 | €60,190 | €46,406 | ▼ 22.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.9m | €1.2m | €1.1m | €1.2m | ▲ 13.6% |
| Equity10/15 | €515,435 | €107,332 | -€979,092 | -€1.7m | -€1.9m | ▼ 9.6% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €495,435 | €87,332 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | €493,435 | €85,332 | €0 | - | - | - |
| Profit (loss) carried forward14 | - | - | -€1.0m | -€1.7m | -€1.9m | ▼ 9.5% |
| Amounts payable17/49 | €953,917 | €1.8m | €2.2m | €2.8m | €3.1m | ▲ 11.1% |
| Amounts payable after more than one year17 | €37,486 | €5,406 | €0 | - | - | - |
| Financial debts170/4 | €37,486 | €5,406 | €0 | - | - | - |
| Amounts payable within one year42/48 | €892,418 | €1.8m | €2.2m | €2.7m | €3.1m | ▲ 12.7% |
| Current portion of amounts payable after more than one year42 | €46,287 | €34,727 | €8,102 | - | - | - |
| Financial debts43 | €350,000 | €400,000 | €400,000 | €150,000 | €398,028 | ▲ 165% |
| Credit institutions430/8 | €350,000 | €400,000 | €400,000 | €150,000 | €398,028 | ▲ 165% |
| Trade debts44 | €377,740 | €1.2m | €1.6m | €1.3m | €1.3m | ▲ 1.9% |
| Suppliers440/4 | €377,740 | €1.2m | €1.6m | €1.3m | €1.3m | ▲ 1.9% |
| Advances received on contracts in progress46 | - | €6,402 | €85,000 | - | - | - |
| Taxes, remuneration and social security45 | €118,391 | €109,703 | €79,634 | €39,301 | €58,584 | ▲ 49.1% |
| Taxes450/3 | €73,044 | €22,378 | €4,034 | €2,248 | €10,119 | ▲ 350% |
| Remuneration and social security454/9 | €45,347 | €87,325 | €75,600 | €37,053 | €48,465 | ▲ 30.8% |
| Other amounts payable47/48 | - | - | - | €1.2m | €1.3m | ▲ 4.3% |
| Accrued charges and deferred income492/3 | €24,012 | - | €5,000 | €71,835 | €36,667 | ▼ 49.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €103,654 | -€408,104 | -€1.1m | -€735,682 | -€164,994 | ▲ 77.6% |
| + Depreciation and write-downs630 | €37,254 | €109,259 | €144,154 | €167,325 | €164,457 | ▼ 1.7% |
| Operating cash flow (approximation) | €140,908 | -€298,844 | -€942,269 | -€568,357 | -€537 | ▲ 99.9% |
| Investment in fixed assets (approximation) | - | -€341,216 | -€163,794 | -€82,689 | -€75,058 | ▲ 9.2% |
| Change in cash | - | -€207,347 | -€82,100 | -€32,011 | €258,004 | ▲ 906% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€1.1m
Net result drops to -€1.1m, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €500,000Eq €515,435 ▲25.2%
3 profitable years in a row build equity to €515,435.
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Back to profitnet €168,204
Net result €168,204 after one loss-making year.
30-06
Financial
Equity above €200,000Eq €259,955 ▲183%
Equity rises from €91,751 to €259,955.
08-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
08-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 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
16 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, Zaventem · 1 establishment unit since 2014
Ground area
3.7 ha
Building footprint
9,010 m²
Volume, LiDAR
84,422 m³
2 parcels, Flanders · tallest building 12.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Zelektro.be
since 20142.234.492.097
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23094D0098/00M000 | Flanders | 2.1 ha | - | - |
| 46025B0138/00G000 | Flanders | 1.6 ha | 1 · 9,010 m² | 12.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
GRUPPO XXI
75 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- GRUPPO XXI
- HASTINGS & CORNWALL
- PLUG 21
- Z-TECH
Highest known parent: GRUPPO XXI. The sources do not say who stands above it.
Owners 2
- PLUG 21parentSourceaccounts PLUG 21 2024100%
-
49%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 12,591 EUR awarded · 12,591 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 2,680 EUR | 2,680 EUR |
| 2022 | 1 | 9,911 EUR | 9,911 EUR |
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Of 12,956 companies in sector 47120 we hold annual accounts for 2,192. 1,499 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
Founded22-05-2013
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
47552Retail sale of lighting equipment
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0534782873
Also
9925:BE0534782873
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.