Equity
€60,791 ▲ 4.0%
ZAG has made a profit in every financial year since 2021.
ZAG
Overview
Lifetime
5 annual accounts with figures on one time axispeak €129,527 (2025)
€129,527▲ 23.0%
peak €31,056 (2022)
€2,323▼ 63.3%
peak €60,791 (2025)
€60,791▲ 4.0%
€51,840▲ 112%
Board1 name since 2021
1 director
Documentsfilings and deeds
30-09-202661 days late
2025micro format
Gross margin from €105,285 to €129,527Result from €6,329 to €2,323Debts from €24,495 to €51,840
Key points
from the 2025 annual accountsChecked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 5,053 companies had the same profile as ZAG has now. Each dot stands for 13 companies, two years later.
93.9%
were still trading
3.9%
stopped another way
2.2%
went bankrupt
Test of the method
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 5,053 companies, not a prediction for ZAG. 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.
Credit verdict
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0770989751
Incorporation
Founding capital of €5,000, 100 shares · Founder: · Appointment: (director) · published on 14-07-2021 · Gazette deed
First establishment
Rue du Cimetière 7, Aiseau-Presles
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ZAG Aiseau-Presles | €112,631 | €129,527 | 54.0% | - |
| MADOE Braine-le-Comte | €122,930 | €111,355 | -4.0% | - |
| Vulcain Seneffe | €129,976 | €135,751 | 64.5% | - |
| REFTECH Sambreville | €103,460 | €125,400 | 50.7% | - |
| TMR MONTAGE Genk | €93,411 | €122,334 | 28.6% | - |
| CROGGE Herve | €137,041 | €117,854 | 59.0% | - |
| ASP CONSTRUCT Charleroi | €141,195 | €104,354 | 33.9% | - |
These companies have the same main activity as ZAG: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €93,400 and €141,000, founded in 2021.
Official details
Source: KBO- Status
- Active since 10-07-2021Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 3 others
- Establishment unit
- 2.326.084.4476250 Aiseau-Presles, since 10-07-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 05-01-2026
Annual accounts 2025
- €129,527▲ 23.0%
- €2,323▼ 63.3%
- €60,791▲ 4.0%
- €112,631▲ 35.8%
- Employeeson 31-12-2025
- 3
- Filing
- Filed on 30-09-2026
Insights on ZAG
ZAG files the micro format. That format states no turnover. The gross margin rose from €18,121 in 2021 to €129,527 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 30-09-2026, 61 days late€129,527
▲ 23.0%
€2,773
▼ 57.1%
€2,323
▼ 63.3%
€54,806
▲ 12.3%
54.0%
▼ 16.5 percentage points
2.06
▼ 0.94
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 ≈ €400,000. Estimated: probably between €320,000 and €490,000.
Balance sheet
balance sheet total €112,631 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
54.0%
Higher than 58% of 37,271 companies in 2025.
2.06
Higher than 56% of 36,564 companies in 2025.
2.1%
Higher than 33% of 36,799 companies in 2025.
ZAG
Middle half of the sector
80% of the sector
Micro accounts in specialised construction (NACE 43)
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff
€41,160
Staff costs divided by the average number of full-time equivalents.
level
people who joined
people who left
In 2025, 2 people joined and 2 left. Training hours in 2025: 614.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
112,631 | 82,963 | 79,459 | 56,844 | 39,737 | |
21/28 |
5,986 | 9,662 | 16,379 | 14,537 | 15,383 | |
21 |
- | - | - | 0 | 0 | |
22/27 |
5,296 | 8,972 | 16,189 | 14,347 | 15,383 | |
23 |
1,862 | 3,501 | 5,168 | 5,037 | 2,430 | |
24 |
3,433 | 5,471 | 11,021 | 9,309 | 12,953 | |
28 |
690 | 690 | 190 | 190 | - | |
29/58 |
106,645 | 73,301 | 63,080 | 42,308 | 24,355 | |
3 |
18,811 | 12,757 | 17,595 | 364 | 1,224 | |
30/36 |
18,811 | 12,757 | 17,595 | 364 | 1,224 | |
40/41 |
58,505 | 41,515 | 31,353 | 27,234 | 19,696 | |
40 |
12,868 | 8,106 | 8,144 | 18,073 | 5,173 | |
41 |
45,637 | 33,409 | 23,208 | 9,161 | 14,523 | |
54/58 |
13,040 | 14,468 | 3,338 | 13,247 | 2,742 | |
490/1 |
16,289 | 4,561 | 10,794 | 1,463 | 692 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
112,631 | 82,963 | 79,459 | 56,844 | 39,737 | |
10/15 |
60,791 | 58,468 | 52,140 | 47,992 | 16,936 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
14 |
55,791 | 53,468 | 47,140 | 42,992 | 11,936 | |
17/49 |
51,840 | 24,495 | 27,319 | 8,853 | 22,802 | |
42/48 |
51,840 | 24,495 | 27,319 | 8,853 | 22,802 | |
44 |
17,815 | 5,509 | 16,089 | 1,695 | 8,127 | |
440/4 |
17,815 | 5,509 | 16,089 | 1,695 | 8,127 | |
46 |
23,007 | 6,890 | - | 0 | 11,365 | |
45 |
1,620 | 11,520 | 11,230 | 7,158 | 560 | |
450/3 |
682 | 4,267 | 3,298 | 1,953 | 560 | |
454/9 |
938 | 7,253 | 7,932 | 5,205 | - | |
47/48 |
9,398 | 575 | - | 0 | 2,749 | |
| Income statement | ||||||
9900 |
129,527 | 105,285 | 94,465 | 80,629 | 18,121 | |
62 |
119,365 | 88,650 | 79,577 | 34,437 | - | |
630 |
3,676 | 6,646 | 7,690 | 5,796 | 3,593 | |
640/8 |
3,714 | 3,526 | 2,891 | 834 | 53 | |
9901 |
2,773 | 6,463 | 4,307 | 39,562 | 14,474 | |
75/76B |
1,504 | 723 | 179 | 8 | 174 | |
75 |
1,504 | 723 | 179 | 8 | 174 | |
65/66B |
1,420 | 709 | 181 | 137 | 25 | |
65 |
1,420 | 709 | 181 | 137 | 25 | |
9903 |
2,857 | 6,477 | 4,305 | 39,433 | 14,624 | |
67/77 |
534 | 149 | 157 | 8,377 | 2,689 | |
9904 |
2,323 | 6,329 | 4,148 | 31,056 | 11,936 | |
9905 |
2,323 | 6,329 | 4,148 | 31,056 | 11,936 | |
| Appropriation of the result | ||||||
9906 |
55,791 | 53,468 | 47,140 | 42,992 | 11,936 | |
14P |
53,468 | 47,140 | 42,992 | 11,936 | - | |
| Social balance sheet | ||||||
9087 |
2.9 | - | - | - | - | |
Hours worked1013 |
4,234 | - | - | - | - | |
| Document | ||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-09-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 61 days after the deadline. Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00549793.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-09-2026 | 2026-00549793 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00419764 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00491146 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00438715 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20161145 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 6,449 | 13,109 | 11,997 | 45,358 | 18,068 | ||
| 5,999 | 12,974 | 11,838 | 36,852 | 15,529 | ||
| 0 | 766 | 9,532 | 4,950 | 18,976 | ||
| -1,428 | 11,130 | -9,909 | 10,504 | - | ||
| 54,806 | 48,806 | 35,761 | 33,455 | 1,553 | ||
| 54.0% | 70.5% | 65.6% | 84.4% | 42.6% | ||
| 2.06 | 2.99 | 2.31 | 4.78 | 1.07 | ||
| 1.69 | 2.47 | 1.66 | 4.74 | 1.01 | ||
| 0.85 | 0.42 | 0.52 | 0.18 | 1.35 | ||
| 3.8% | 10.8% | 8.0% | 64.7% | 70.5% | ||
| 2.1% | 7.6% | 5.2% | 54.6% | 30.0% | ||
| 4.54 | 18.50 | 66.20 | over 100 | over 100 |
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.
Social balance sheet
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 3 |
| full-time | 2 |
| part-time | 1 |
| in full-time equivalents | 2.5 |
| 2.9 | |
| On a permanent contract | 1 |
| Joined | 2 |
| Left | 2 |
| Training hours | 614 |
Source: social balance sheet in the 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €266 | €9,532 | €4,760 | €16,719 |
| Intangible fixed assets | - | - | - | - | €2,258 |
| Financial fixed assets | - | €500 | - | €190 | - |
| €3,676 | €6,646 | €7,690 | €5,796 | €3,593 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on ZAG
The operating result for 2025 is 57% lower than in 2024 and the lowest since 2021.
Debt's share of the balance-sheet total rises from 29.5% to 46.0%. Equity and debt are higher.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 14-07-2021
term without a fixed end
also on the board of 1 other company
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 14-07-2021
Mandates through the years
1 name, the dashed line is todayDirector (not named in the articles)
Board
Mandates as a list
-
- Director (not named in the articles), appointed by deed of 14-07-2021, still in office
Control
Founder
This company
ZAG
Equity €60,791
Profit €2,323 in 2025
Capital
- Contribution
- €5,000
- Shares
- 100
- Contribution per share
- €50
- Equity per share
- €608 in 2025
- Source
- deed of 14-07-2021
Articles of association
deed of 14-07-2021 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 18:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Shareholders
At incorporation
deed of 14-07-2021 ↗
- 100 shares (100%) · €5,000
Network & group
No group
ZAG has no parent and no holdings in its annual accounts. is the only director.
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, zoom with the mouse wheel.
Linked via shared directors
via · Director (not named in the articles) · deed of 05-02-2024
Founded in 2024 · total assets €89,445 (2024)
Timeline
Timeline
11 events since 2021Filings
Financial
Establishments
202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 61 days late
Registered in the Peppol Directory Reachable for e-invoices through 0208:0770989751
2025
Weakest financial year net €2,323 ▼63.3% The net result drops to €2,323, the lowest from 2021 to 2025.
Annual accounts 2024 filed PDFmicro format · 26 days late
2024
Annual accounts 2023 filed PDFmicro format · 61 days late
2023
Annual accounts 2022 filed PDFmicro format · 31 days late
2022
Highest result from 2021 to 2025 net €31,056 ▲160% The operating result of €39,562 and the net result of €31,056 are both a record.
Liquidity more than quadruples current ratio 4.78 The current ratio rises from 1.07 to 4.78. Short-term debt falls from €22,802 to €8,853.
Annual accounts 2021 filed PDFmicro format · 30 days before the deadline
2021
IncorporationFounding capital of €5,000, 100 shares · Founder: · Appointment: (director) · published on 14-07-20214 points ▸
- Founder,
- Founding capital, €5,000, 100 shares
- 100 shares
- Director appointment, (director (not named in the articles))
- The deed holds 1 more point.
First establishment Rue du Cimetière 7, Aiseau-Presles
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0770.989.751
- VAT number
- BE 0770.989.751
- Peppol ID
- 0208:0770989751
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 10-07-2021
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 18:00deed of 14-07-2021 (in French)
- Peppol
- Reachable since 05-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- ZAG in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 14-07-2021 (in French)
Activities
NACEBEL 2025VAT activities
43222
Installation of electric heating, air conditioning, cooling and ventilation main activity
Social security (RSZ) activities
43222
Installation of electric heating, air conditioning, cooling and ventilation main activity
Codes under NACEBEL 2008
VAT activities
43222
Specialised construction activities main activity
Social security (RSZ) activities
43222
Specialised construction activities main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “L’installation,laréparationetl’entretiendepoêlesàpelletet àbois; Toutesactivitéscombinéesdesoutienliéauxbâtiments…”deed of 14-07-2021 (in French)
8 activities
- L’installation,laréparationetl’entretiendepoêlesàpelletet àbois;
- Toutesactivitéscombinéesdesoutienliéauxbâtiments;
- Toutesactivitésdesoutienauxentreprises;
- Réparationd'ouvrageenmétaux;
- Travauxdeplomberie;
- Intermédiairesducommerceenboisetmatériauxdeconstruction;
- Intermédiairesducommerceenmachine,équipementsindustriels,naviresetavions;
- Intermédiairesducommerceenmeubles,articlesdeménageetquincaillerie.
Registered office and establishments
1 establishment| Establishment | Start date | Unit number |
|---|---|---|
| Rue du Cimetière 7 registered office 6250 Aiseau-Presles | 10-07-2021 | 2.326.084.447 |
Buildings and parcels at the address
- Ground area
- 57 m²
- Buildings
- 48 m²
- Volume, LiDAR
- 355 m³
- Tallest building
- 8.6 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 52002B0243/00S000 | 57 m² | 1 · 48 m² | 8.6 m · 2 |
Contact
E-mail
zag.pellet@gmail.com
Phone
+32 484 07 66 83
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 0770.989.751