ZeBorne
ActiveSummary
ZeBorne has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of -€55,853. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 60% of 2083 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▲+37
Solvency75▼-13
Growth68▲+16
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55,000 at 30 days acceptable
Liquidity ample (current ratio 1.81 against 2.47 in 2024; short-term debt: 48.8% and cash: 8.8% of total assets), and 49.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 2025Solvency, return and age of the figures
Solvency
50.1%
Return on assets
-2.7%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
37 d early
2023
19 d early
2022
18 d early
2021
46 d early
2020
64 d early
2019
19 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 20 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 13 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#5 company by equity in Nivelles, Construction sector
Turnover
€3.2m▲ 29.0%
2024 · €2.5m
EBIT margin
-0.9%▲ 7.9pp
2024 · -8.8%
Net result
-€55,853▲ 77.5%
2024 · -€248,185
Working capital
€820,679▼ 8.6%
2024 · €898,263
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€2.5m€3.2m▲ 29.0%
Operating result-€355,691▼ 1.3%-€140,182▲ 60.6%-€485,863▼ 247%-€221,426▲ 54.4%-€30,381▲ 86.3%
Net result-€364,498below the sector's middle half▼ 2.5%-€115,463below the sector's middle half▲ 68.3%-€506,278below the sector's middle half▼ 338%-€248,185▲ 51.0%-€55,853below the sector's middle half▲ 77.5%
EBIT margin-8.8%-0.9%▲ 7.9pp
Equity€136,969above the sector's middle half▲ 166%€21,505within the sector's middle half▼ 84.3%€1.3mabove the sector's middle half▲ 6,135%€1.1m▼ 18.5%€1.0mwithin the sector's middle half▼ 5.1%
Total assets€770,854above the sector's middle half▲ 83.3%€1.3mabove the sector's middle half▲ 72.5%€1.6mwithin the sector's middle half▲ 18.6%€1.7m▲ 9.7%€2.1mwithin the sector's middle half▲ 19.8%
Debt€600,836▲ 62.8%€1.3m▲ 118%€235,314▼ 82.0%€635,929▲ 170%€1.0m▲ 62.5%
Working capital€103,427above the sector's middle half▲ 546%-€62,704below the sector's middle half€1.2mabove the sector's middle half€898,263▼ 24.3%€820,679within the sector's middle half▼ 8.6%
Solvency17.8%below the sector's middle half▲ 5.5pp1.6%below the sector's middle half▼ 16.2pp85.1%above the sector's middle half▲ 83.5pp63.2%▼ 21.9pp50.1%within the sector's middle half▼ 13.1pp
Current ratio1.17within the sector's middle half▲ 0.130.95below the sector's middle half▼ 0.226.80above the sector's middle half▲ 5.852.47▼ 4.331.81within the sector's middle half▼ 0.65
Return on assets (ROA)-47.3%below the sector's middle half▲ 37.3pp-8.7%below the sector's middle half▲ 38.6pp-32.1%below the sector's middle half▼ 23.4pp-14.4%▲ 17.8pp-2.7%below the sector's middle half▲ 11.7pp
Staff (FTE)7.7▲ 235%7.3▼ 5.2%11within the sector's middle half▲ 50.7%15.2▲ 38.2%15.7within the sector's middle half▲ 3.3%
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.
Why a figure moved sharply
- 2023 Net result -338% on 2022. The accounts now follow the full schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €30,381 in 2025 against €221,426 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.1m
Fixed assets
€238,348 ▲ 10.7%
Current assets
€1.8m ▲ 21.2%
Equity and liabilities €2.1m
Equity
€1.0m ▼ 5.1%
Debt
€1.0m ▲ 62.5%
Debt's share of the balance-sheet total rises from 36.8% to 49.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€75,929▲
2024 · -€124,080
Cash flow
€50,457▲
2024 · -€150,838
Quick ratio
0.95▼
2024 · 1.42
Debt to equity
1.00▲
2024 · 0.58
ROE
-5.4%▲
2024 · -22.7%
Interest coverage
3.19▲
2024 · -5.23
Debt ≤ 1 year
€1.0m▲
2024 · €612,468
Debt > 1 year
€12,060=
2024 · €12,060
Income taxes
€274▼
2024 · €3,108
Staff costs
€919,275▲
2024 · €842,028
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,687 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.6%
went bankrupt
5.4%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 2,687 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €2.9m | €3.3m | ▲ 14.0% |
| Turnover70 | - | - | - | €2.5m | €3.2m | ▲ 29.0% |
| Own construction capitalised72 | - | - | - | €84,007 | €84,446 | ▲ 0.5% |
| Other operating income74 | - | - | - | €8,422 | €9,300 | ▲ 10.4% |
| Non-recurring operating income76A | €360 | €65,615 | €111 | €319,826 | - | - |
| Operating charges60/66A | - | - | - | €3.1m | €3.4m | ▲ 6.9% |
| Goods for resale, raw materials and consumables60 | - | - | - | €1.7m | €1.9m | ▲ 9.1% |
| Purchases600/8 | - | - | - | €1.7m | €2.1m | ▲ 22.9% |
| Change in stocks: decrease (increase)609 | - | - | - | €3,207 | -€230,450 | ▼ 7,286% |
| Services and other goods61 | - | - | - | €496,765 | €472,767 | ▼ 4.8% |
| Remuneration, social security and pensions62 | €375,399 | €378,382 | €598,912 | €842,028 | €919,275 | ▲ 9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,641 | €40,063 | €64,608 | €97,346 | €106,310 | ▲ 9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €363 | - | - | - |
| Other operating charges640/8 | €595 | €788 | €1,835 | €1,141 | €1,674 | ▲ 46.8% |
| Non-recurring operating charges66A | €33,049 | - | - | - | - | - |
| Gross operating margin9900 | €75,994 | €279,051 | €179,855 | - | - | - |
| Operating profit (loss)9901 | -€355,691 | -€140,182 | -€485,863 | -€221,426 | -€30,381 | ▲ 86.3% |
| Financial income75/76B | €269 | €0 | €851 | €84 | €477 | ▲ 465% |
| Recurring financial income75 | €269 | €0 | €851 | €84 | €477 | ▲ 465% |
| Income from financial fixed assets750 | - | - | - | - | €45 | - |
| Income from current assets751 | - | - | - | - | €37 | - |
| Other financial income752/9 | - | - | - | €84 | €395 | ▲ 368% |
| Financial charges65/66B | €8,192 | -€25,816 | €20,067 | €23,735 | €25,675 | ▲ 8.2% |
| Recurring financial charges65 | €8,192 | €7,233 | €20,067 | €23,735 | €25,675 | ▲ 8.2% |
| Debt charges650 | - | - | - | - | €23,779 | - |
| Other financial charges652/9 | - | - | - | €23,735 | €1,896 | ▼ 92.0% |
| Non-recurring financial charges66B | - | -€33,049 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€363,613 | -€114,366 | -€505,078 | -€245,077 | -€55,578 | ▲ 77.3% |
| Income taxes67/77 | €885 | €1,097 | €1,200 | €3,108 | €274 | ▼ 91.2% |
| Taxes670/3 | - | - | - | €3,108 | €274 | ▼ 91.2% |
| Profit (loss) for the period9904 | -€364,498 | -€115,463 | -€506,278 | -€248,185 | -€55,853 | ▲ 77.5% |
| Profit (loss) for the period to be appropriated9905 | -€364,498 | -€115,463 | -€506,278 | -€248,185 | -€55,853 | ▲ 77.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €770,854 | €1.3m | €1.6m | €1.7m | €2.1m | ▲ 19.8% |
| Formation expenses20 | €4,139 | €3,103 | €4,362 | €2,575 | €792 | ▼ 69.3% |
| Fixed assets21/28 | €64,552 | €109,344 | €181,537 | €215,405 | €238,348 | ▲ 10.7% |
| Intangible fixed assets21 | €19,044 | €44,545 | €72,100 | €116,400 | €157,171 | ▲ 35.0% |
| Tangible fixed assets22/27 | €45,508 | €56,999 | €102,230 | €91,198 | €77,285 | ▼ 15.3% |
| Plant, machinery and equipment23 | €25,098 | €28,407 | €30,443 | €28,321 | €20,590 | ▼ 27.3% |
| Furniture and vehicles24 | €20,147 | €26,769 | €45,720 | €42,598 | €42,136 | ▼ 1.1% |
| Leasing and similar rights25 | - | - | €23,037 | €18,137 | €13,237 | ▼ 27.0% |
| Other tangible fixed assets26 | €263 | €1,824 | €3,029 | €2,142 | €1,322 | ▼ 38.3% |
| Financial fixed assets28 | - | €7,800 | €7,207 | €7,807 | €3,892 | ▼ 50.1% |
| Affiliated companies280/1 | - | - | - | €7,807 | - | - |
| Participating interests280 | - | - | - | €7,807 | - | - |
| Other financial fixed assets284/8 | - | - | - | - | €3,892 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €3,892 | - |
| Current assets29/58 | €702,164 | €1.2m | €1.4m | €1.5m | €1.8m | ▲ 21.2% |
| Stocks and contracts in progress3 | €311,762 | €554,749 | €645,733 | €642,526 | €872,976 | ▲ 35.9% |
| Stocks30/36 | €311,762 | €554,749 | €645,733 | €642,526 | €872,976 | ▲ 35.9% |
| Goods purchased for resale34 | - | - | - | €642,526 | €872,976 | ▲ 35.9% |
| Amounts receivable within one year40/41 | €387,060 | €624,324 | €670,162 | €673,822 | €621,061 | ▼ 7.8% |
| Trade receivables40 | €328,093 | €588,463 | €613,778 | €537,748 | €483,512 | ▼ 10.1% |
| Other amounts receivable41 | €58,967 | €35,861 | €56,384 | €136,074 | €137,549 | ▲ 1.1% |
| Cash at bank and in hand54/58 | €991 | €655 | €48,944 | €164,144 | €181,319 | ▲ 10.5% |
| Deferred charges and accrued income490/1 | €2,351 | €37,291 | €25,543 | €30,239 | €155,937 | ▲ 416% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €770,854 | €1.3m | €1.6m | €1.7m | €2.1m | ▲ 19.8% |
| Equity10/15 | €136,969 | €21,505 | €1.3m | €1.1m | €1.0m | ▼ 5.1% |
| Contributions10/11 | €1.1m | €1.1m | €2.9m | €2.9m | €2.9m | = |
| Reserves13 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves not available under the articles1311 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€981,231 | -€1.1m | -€1.6m | -€1.9m | -€1.9m | ▼ 3.0% |
| Provisions and deferred taxes16 | €33,049 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €33,049 | - | - | - | - | - |
| Other liabilities and charges164/5 | €33,049 | - | - | - | - | - |
| Amounts payable17/49 | €600,836 | €1.3m | €235,314 | €635,929 | €1.0m | ▲ 62.5% |
| Amounts payable after more than one year17 | - | - | €16,381 | €12,060 | €12,060 | = |
| Financial debts170/4 | - | - | €16,381 | €12,060 | €12,060 | = |
| Leasing and similar obligations172 | - | - | - | - | €12,060 | - |
| Credit institutions173 | - | - | - | €12,060 | - | - |
| Amounts payable within one year42/48 | €598,736 | €1.3m | €204,553 | €612,468 | €1.0m | ▲ 65.0% |
| Current portion of amounts payable after more than one year42 | - | - | €4,262 | €4,321 | - | - |
| Trade debts44 | €141,321 | €350,701 | €114,343 | €164,498 | €539,782 | ▲ 228% |
| Suppliers440/4 | €141,321 | €350,701 | €114,343 | €164,498 | €539,782 | ▲ 228% |
| Advances received on contracts in progress46 | €8,654 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €71,552 | €52,213 | €85,731 | €143,649 | €170,833 | ▲ 18.9% |
| Taxes450/3 | €12,436 | €8,006 | €2,202 | €8,647 | €7,083 | ▼ 18.1% |
| Remuneration and social security454/9 | €59,116 | €44,207 | €83,529 | €135,002 | €163,750 | ▲ 21.3% |
| Other amounts payable47/48 | €377,208 | €876,809 | €218 | €300,000 | €300,000 | = |
| Accrued charges and deferred income492/3 | €2,100 | €28,238 | €14,380 | €11,402 | €10,830 | ▼ 5.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€364,498 | -€115,463 | -€506,278 | -€248,185 | -€55,853 | ▲ 77.5% |
| + Depreciation and write-downs630 | €22,641 | €40,063 | €64,608 | €97,346 | €106,310 | ▲ 9.2% |
| Operating cash flow (approximation) | -€341,858 | -€75,400 | -€441,670 | -€150,838 | €50,457 | ▲ 133% |
| Investment in fixed assets (approximation) | - | -€84,855 | -€136,801 | -€131,214 | -€129,254 | ▲ 1.5% |
| Change in cash | - | -€336 | €48,289 | €115,200 | €17,175 | ▼ 85.1% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 24 days late
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€506,278
Net result drops to -€506,278, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 7current ratio 6.80
Current ratio from 0.95 to 6.80; short-term debt falls from €1.3m to €204,553.
31-12
Financial
Equity above €1mEq €1.3m ▲6,135%
Equity rises from €21,505 to €1.3m.
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100,000Eq €136,969 ▲166%
Equity rises from €51,467 to €136,969.
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity doublescurrent ratio 1.05
Current ratio from 0.51 to 1.05; short-term debt falls from €399,373 to €355,233.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
Show earlier events
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
03-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
13 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, Nivelles · 1 establishment unit since 2010
Ground area
8,033 m²
Building footprint
2,245 m²
Volume, LiDAR
18,619 m³
Parcel 25782C0634/00K002, Wallonia · tallest building 9.7 m, ±3 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
ZEborne
since 20102.193.107.048
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0634/00K002 | Wallonia | 8,033 m² | 1 · 2,245 m² | 9.7 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.
Similar companies · same sector, comparable size
ELEKTRO - WEST
BE 0419.328.723
Middelkerke · Eq €1,037,261
VEREECKE GINO
BE 0449.649.141
Ardooie · Eq €1,036,579
ELECTRO DEBREE
BE 0429.248.358
De Haan · Eq €1,038,197
Goeminne Pieter-Jan Electro Service
BE 0825.744.865
Ronse · Eq €1,034,946
SOLAR INVEST
BE 0884.686.718
Roeselare · Eq €1,039,082
Of 22,827 companies in sector 43211 we hold annual accounts for 10,338. 4,550 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
Founded28-10-2010
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43212Electrical installation work in industrial facilities
43240Other construction installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0830720272
Registered
01-05-2025
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.