ZANETTI
ActiveSummary
ZANETTI has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.1m and a net result of €438,326. Equity is growing by ~9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+19
Solvency100▲+16
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity ample (current ratio 6.57 against 2.03 in 2023; short-term debt: 12.3% and cash: 49.5% of total assets), and 15.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
84.9%
Return on assets
35.3%
Age of the figures
21 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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
65 d early
2023
30 d early
2022
on the day
2021
23 d early
2020
31 d late
2019
17 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 19 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 2 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€438,326▲ 321%
2023 · €104,151
Working capital
€849,888▲ 125%
2023 · €378,343
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€176,874▲ 140%€272,409▲ 54.0%€315,956▲ 16.0%€138,495▼ 56.2%€597,233▲ 331%
Net result€134,921above the sector's middle half▲ 282%€190,767above the sector's middle half▲ 41.4%€224,628above the sector's middle half▲ 17.7%€104,151within the sector's middle half▼ 53.6%€438,326above the sector's middle half▲ 321%
Equity€448,247within the sector's middle half▼ 5.5%€639,013above the sector's middle half▲ 42.6%€613,641within the sector's middle half▼ 4.0%€617,792within the sector's middle half▲ 0.7%€1.1mabove the sector's middle half▲ 71.0%
Total assets€865,000within the sector's middle half▲ 21.2%€897,772within the sector's middle half▲ 3.8%€1.1mwithin the sector's middle half▲ 25.8%€1.0mwithin the sector's middle half▼ 8.0%€1.2mwithin the sector's middle half▲ 19.7%
Debt€401,721▲ 85.0%€247,816▼ 38.3%€507,056▲ 105%€414,795▼ 18.2%€183,037▼ 55.9%
Working capital€117,753within the sector's middle half▲ 32.1%€277,524within the sector's middle half▲ 136%€384,524within the sector's middle half▲ 38.6%€378,343within the sector's middle half▼ 1.6%€849,888above the sector's middle half▲ 125%
Solvency51.8%within the sector's middle half▼ 14.7pp71.2%above the sector's middle half▲ 19.4pp54.3%within the sector's middle half▼ 16.8pp59.5%within the sector's middle half▲ 5.1pp84.9%above the sector's middle half▲ 25.5pp
Current ratio1.29within the sector's middle half▼ 0.122.12within the sector's middle half▲ 0.831.76within the sector's middle half▼ 0.362.03within the sector's middle half▲ 0.276.57above the sector's middle half▲ 4.54
Return on assets (ROA)15.6%above the sector's middle half▲ 10.6pp21.2%above the sector's middle half▲ 5.7pp19.9%above the sector's middle half▼ 1.4pp10.0%within the sector's middle half▼ 9.9pp35.3%above the sector's middle half▲ 25.2pp
Staff (FTE)7within the sector's middle half▼ 22.2%6.4within the sector's middle half▼ 8.6%3.3below the sector's middle half▼ 48.4%5.2within the sector's middle half▲ 57.6%5.2within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 331% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.2m
Fixed assets
€240,781 ▼ 18.2%
Current assets
€1.0m ▲ 34.6%
Equity and liabilities €1.2m
Equity
€1.1m ▲ 71.0%
Provisions
€4,122 ▼ 34.2%
Debt
€183,037 ▼ 55.9%
Debt's share of the balance-sheet total falls from 39.9% to 14.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€650,690▲
2023 · €179,377
Cash flow
€491,783▲
2023 · €145,034
Quick ratio
6.43▲
2023 · 1.96
Debt to equity
0.17▼
2023 · 0.67
ROE
41.5%▲
2023 · 16.9%
Interest coverage
160.20▲
2023 · 76.75
Debt ≤ 1 year
€152,608▼
2023 · €366,274
Debt > 1 year
€30,428▼
2023 · €46,428
Income taxes
€162,131▲
2023 · €35,191
Staff costs
€291,918▲
2023 · €256,959
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 31,371 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €348,576 | €173,410 | €256,959 | €291,918 | ▲ 13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €62,965 | €53,431 | €35,019 | €40,883 | €53,457 | ▲ 30.8% |
| Other operating charges640/8 | - | €21,137 | €54,851 | €8,951 | €8,744 | ▼ 2.3% |
| Gross operating margin9900 | €587,149 | €695,554 | €579,236 | €445,287 | €951,352 | ▲ 114% |
| Operating profit (loss)9901 | €176,874 | €272,409 | €315,956 | €138,495 | €597,233 | ▲ 331% |
| Financial income75/76B | - | €3,723 | €280 | €1,040 | €5,141 | ▲ 394% |
| Recurring financial income75 | €2,434 | €3,723 | €280 | €1,040 | €5,141 | ▲ 394% |
| Financial charges65/66B | - | €1,440 | €1,414 | €2,337 | €4,062 | ▲ 73.8% |
| Recurring financial charges65 | €993 | €1,440 | €1,414 | €2,337 | €4,062 | ▲ 73.8% |
| Profit (loss) for the period before taxes9903 | €178,315 | €274,692 | €314,822 | €137,197 | €598,312 | ▲ 336% |
| Transfer from deferred taxes780 | - | €4,090 | €2,529 | €2,145 | €2,145 | = |
| Income taxes67/77 | €50,397 | €88,016 | €92,724 | €35,191 | €162,131 | ▲ 361% |
| Profit (loss) for the period9904 | €134,921 | €190,767 | €224,628 | €104,151 | €438,326 | ▲ 321% |
| Transfer from tax-exempt reserves789 | - | €8,304 | €5,135 | €4,355 | €4,355 | = |
| Profit (loss) for the period to be appropriated9905 | €149,140 | €199,071 | €229,763 | €108,507 | €442,681 | ▲ 308% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €865,000 | €897,772 | €1.1m | €1.0m | €1.2m | ▲ 19.7% |
| Fixed assets21/28 | €345,526 | €372,432 | €237,529 | €294,238 | €240,781 | ▼ 18.2% |
| Tangible fixed assets22/27 | €332,920 | €359,826 | €224,924 | €281,632 | €228,175 | ▼ 19.0% |
| Land and buildings22 | - | €230,840 | €205,940 | €180,801 | €155,662 | ▼ 13.9% |
| Plant, machinery and equipment23 | - | €11,811 | €9,097 | €6,158 | €3,253 | ▼ 47.2% |
| Furniture and vehicles24 | - | €117,175 | €9,886 | €94,673 | €69,261 | ▼ 26.8% |
| Financial fixed assets28 | €12,605 | €12,605 | €12,605 | €12,605 | €12,605 | = |
| Current assets29/58 | €519,474 | €525,340 | €891,580 | €744,617 | €1.0m | ▲ 34.6% |
| Stocks and contracts in progress3 | €3,067 | €4,316 | €21,724 | €25,287 | €20,665 | ▼ 18.3% |
| Stocks30/36 | - | €4,316 | €21,724 | €25,287 | €20,665 | ▼ 18.3% |
| Amounts receivable within one year40/41 | €129,494 | €177,900 | €714,620 | €421,682 | €355,187 | ▼ 15.8% |
| Trade receivables40 | - | €160,614 | €195,504 | €161,212 | €54,759 | ▼ 66.0% |
| Other amounts receivable41 | - | €17,286 | €519,117 | €260,470 | €300,428 | ▲ 15.3% |
| Cash at bank and in hand54/58 | €374,645 | €339,092 | €152,666 | €282,992 | €615,178 | ▲ 117% |
| Deferred charges and accrued income490/1 | - | €4,032 | €2,569 | €14,655 | €11,466 | ▼ 21.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €865,000 | €897,772 | €1.1m | €1.0m | €1.2m | ▲ 19.7% |
| Equity10/15 | €448,247 | €639,013 | €613,641 | €617,792 | €1.1m | ▲ 71.0% |
| Contributions10/11 | €223,104 | €223,104 | €223,104 | €223,104 | €223,104 | = |
| Capital10 | - | €223,104 | €223,104 | €223,104 | €223,104 | = |
| Issued capital100 | - | €223,104 | €223,104 | €223,104 | €223,104 | = |
| Reserves13 | €217,033 | €208,729 | €203,593 | €199,238 | €194,882 | ▼ 2.2% |
| Non-distributable reserves130/1 | - | €38,856 | €38,856 | €38,856 | €38,856 | = |
| Legal reserve130 | - | €38,856 | €38,856 | €38,856 | €38,856 | = |
| Tax-exempt reserves132 | - | €60,873 | €55,737 | €51,382 | €47,027 | ▼ 8.5% |
| Distributable reserves133 | - | €109,000 | €109,000 | €109,000 | €109,000 | = |
| Profit (loss) carried forward14 | €8,110 | €207,180 | €186,944 | €195,450 | €638,132 | ▲ 226% |
| Provisions and deferred taxes16 | €15,032 | €10,942 | €8,412 | €6,267 | €4,122 | ▼ 34.2% |
| Deferred taxes168 | - | €10,942 | €8,412 | €6,267 | €4,122 | ▼ 34.2% |
| Amounts payable17/49 | €401,721 | €247,816 | €507,056 | €414,795 | €183,037 | ▼ 55.9% |
| Amounts payable after more than one year17 | - | - | - | €46,428 | €30,428 | ▼ 34.5% |
| Financial debts170/4 | - | - | - | €46,428 | €30,428 | ▼ 34.5% |
| Amounts payable within one year42/48 | €401,721 | €247,816 | €507,056 | €366,274 | €152,608 | ▼ 58.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,322 | €16,000 | ▲ 4.4% |
| Trade debts44 | €70,036 | €87,777 | €43,114 | €43,421 | €7,491 | ▼ 82.7% |
| Suppliers440/4 | - | - | €43,114 | €43,421 | €7,491 | ▼ 82.7% |
| Bills of exchange payable441 | - | €87,777 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €36,724 | €90,551 | €4,945 | €126,928 | ▲ 2,467% |
| Taxes450/3 | - | €14,976 | €84,580 | €0 | €117,131 | - |
| Remuneration and social security454/9 | - | €21,748 | €5,971 | €4,945 | €9,797 | ▲ 98.1% |
| Other amounts payable47/48 | - | €123,315 | €373,391 | €302,586 | €2,190 | ▼ 99.3% |
| Accrued charges and deferred income492/3 | - | - | - | €2,093 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €134,921 | €190,767 | €224,628 | €104,151 | €438,326 | ▲ 321% |
| + Depreciation and write-downs630 | €62,965 | €53,431 | €35,019 | €40,883 | €53,457 | ▲ 30.8% |
| Operating cash flow (approximation) | €197,886 | €244,198 | €259,647 | €145,034 | €491,783 | ▲ 239% |
| Investment in fixed assets (approximation) | - | -€80,337 | €99,883 | -€97,591 | €0 | ▲ 100% |
| Change in cash | - | -€35,553 | -€186,426 | €130,326 | €332,186 | ▲ 155% |
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
29-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €438,326 ▲321%
Operating result €597,233, net result €438,326, both a record.
31-12
Financial
Liquidity triplescurrent ratio 6.57
Current ratio from 2.03 to 6.57; short-term debt falls from €366,274 to €152,608.
31-12
Financial
Equity above €1mEq €1.1m ▲71%
7 profitable years in a row build equity to €1.1m.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €500,000Eq €639,013 ▲42.6%
4 profitable years in a row build equity to €639,013.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €35,357 ▼77.4%
Net result drops to €35,357, the lowest in the series; recovery starts the following year.
Show earlier events
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
23-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Liège · 1 establishment unit since 1979
Ground area
2,140 m²
Building footprint
2,111 m²
Volume, LiDAR
14,412 m³
Parcel 62810B0222/00P000, Wallonia · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Rue des Bayards 24, 4000 Liège
since 19792.016.099.666
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62810B0222/00P000 | Wallonia | 2,140 m² | 1 · 2,111 m² | 11.8 m · 3 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
Owners and holdings
1 ownerChain of control
- Klinkenberg Group
- WEL CONSULT ENERGY
- ZANETTI
Highest known parent: Klinkenberg Group. The sources do not say who stands above it.
Owners 1
- WEL CONSULT ENERGYparent100%
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.
Recognitions · licences · registrations
Recognised contractor
3 categoriesZANETTI SA43530
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Of 7,043 companies in sector 43221 we hold annual accounts for 3,480. 1,599 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-03-1979
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
Contact
E-mail
info@zanetti-sa.be
Phone
043835111
E-invoicing
Reachable via Peppol
Peppol ID
0208:0419265474
Also
9925:BE0419265474
Registered
13-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.