ZEIPA
ActiveSummary
ZEIPA has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64,054 and a net result of -€6,707. Equity is growing by ~4.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability6▼-60
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 13.68 against 4.37 in 2024; short-term debt: 1.8% and cash: 16.2% of total assets), and 1.8% 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+raises risk○neutral
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
120 d late
2023
65 d late
2022
52 d late
2021
31 d late
2020
17 d late
2019
55 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 53 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 21 September (4 of the last 5 filed years within 30 days of that day).
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, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€6,707▼ 353%
2024 · -€1,481
Working capital
€14,819▼ 0.7%
2024 · €14,917
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-€857▲ 33.4%€10,849€17,651▲ 62.7%-€2,035-€7,589▼ 273%
Net result-€936▲ 31.8%€9,802€11,700▲ 19.4%-€1,481-€6,707▼ 353%
Equity€50,739▼ 1.8%€60,541▲ 19.3%€72,242▲ 19.3%€70,760▼ 2.1%€64,054▼ 9.5%
Total assets€53,148▲ 1.0%€67,381▲ 26.8%€85,528▲ 26.9%€75,191▼ 12.1%€65,222▼ 13.3%
Debt€2,409▲ 157%€6,840▲ 184%€13,287▲ 94.2%€4,431▼ 66.7%€1,168▼ 73.6%
Working capital€50,739▼ 1.8%€20,541▼ 59.5%€9,789▼ 52.3%€14,917▲ 52.4%€14,819▼ 0.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,589 in 2025 against €2,035 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65,222
Fixed assets
€49,234 ▼ 11.8%
Current assets
€15,988 ▼ 17.4%
Equity and liabilities €65,222
Equity
€64,054 ▼ 9.5%
Debt
€1,168 ▼ 73.6%
Debt's share of the balance-sheet total falls from 5.9% to 1.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€980▼
2024 · €4,574
Cash flow
-€97▼
2024 · €5,128
Current ratio
13.68▲
2024 · 4.37
Debt to equity
0.02▼
2024 · 0.06
ROE
-10.5%▼
2024 · -2.1%
ROA
-10.3%▼
2024 · -2.0%
Interest coverage
-10.59▼
2024 · 46.43
Debt ≤ 1 year
€1,168▼
2024 · €4,431
Income taxes
€65▼
2024 · €387
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €3,984 | €6,609 | €6,609 | = |
| Other operating charges640/8 | €348 | €347 | €579 | €543 | €517 | ▼ 4.6% |
| Gross operating margin9900 | -€509 | €11,196 | €22,213 | €5,116 | -€462 | ▼ 109% |
| Operating profit (loss)9901 | -€857 | €10,849 | €17,651 | -€2,035 | -€7,589 | ▼ 273% |
| Financial income75/76B | - | €48 | €1,160 | €1,040 | €1,040 | = |
| Recurring financial income75 | - | €48 | €1,160 | €1,040 | €1,040 | = |
| Financial charges65/66B | €79 | €99 | €99 | €99 | €93 | ▼ 6.1% |
| Recurring financial charges65 | €79 | €99 | €99 | €99 | €93 | ▼ 6.1% |
| Profit (loss) for the period before taxes9903 | -€936 | €10,798 | €18,712 | -€1,094 | -€6,641 | ▼ 507% |
| Income taxes67/77 | - | €996 | €7,012 | €387 | €65 | ▼ 83.1% |
| Profit (loss) for the period9904 | -€936 | €9,802 | €11,700 | -€1,481 | -€6,707 | ▼ 353% |
| Profit (loss) for the period to be appropriated9905 | -€936 | €9,802 | €11,700 | -€1,481 | -€6,707 | ▼ 353% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €53,148 | €67,381 | €85,528 | €75,191 | €65,222 | ▼ 13.3% |
| Fixed assets21/28 | - | €40,000 | €62,453 | €55,844 | €49,234 | ▼ 11.8% |
| Tangible fixed assets22/27 | - | - | €22,453 | €15,844 | €9,234 | ▼ 41.7% |
| Furniture and vehicles24 | - | - | €22,453 | €15,844 | €9,234 | ▼ 41.7% |
| Financial fixed assets28 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Current assets29/58 | €53,148 | €27,381 | €23,076 | €19,348 | €15,988 | ▼ 17.4% |
| Amounts receivable within one year40/41 | €5,118 | - | - | - | €4,664 | - |
| Other amounts receivable41 | €5,118 | - | - | - | €4,664 | - |
| Cash at bank and in hand54/58 | €48,030 | €27,381 | €22,388 | €18,349 | €10,591 | ▼ 42.3% |
| Deferred charges and accrued income490/1 | - | - | €687 | €998 | €733 | ▼ 26.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €53,148 | €67,381 | €85,528 | €75,191 | €65,222 | ▼ 13.3% |
| Equity10/15 | €50,739 | €60,541 | €72,242 | €70,760 | €64,054 | ▼ 9.5% |
| Contributions10/11 | €6,200 | €8,060 | €8,060 | €8,060 | €8,060 | = |
| Capital10 | €6,200 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €12,400 | - | - | - | - | - |
| Reserves13 | €23,382 | €31,022 | €42,022 | €42,022 | €42,022 | = |
| Non-distributable reserves130/1 | €1,860 | - | - | - | - | - |
| Legal reserve130 | €1,860 | - | - | - | - | - |
| Distributable reserves133 | €21,522 | €31,022 | €42,022 | €42,022 | €42,022 | = |
| Profit (loss) carried forward14 | €21,157 | €21,459 | €22,160 | €20,679 | €13,972 | ▼ 32.4% |
| Amounts payable17/49 | €2,409 | €6,840 | €13,287 | €4,431 | €1,168 | ▼ 73.6% |
| Amounts payable within one year42/48 | €2,409 | €6,840 | €13,287 | €4,431 | €1,168 | ▼ 73.6% |
| Trade debts44 | €2,409 | €1,200 | €1,581 | €1,121 | €1,103 | ▼ 1.6% |
| Suppliers440/4 | €2,409 | €1,200 | €1,581 | €1,121 | €1,103 | ▼ 1.6% |
| Taxes, remuneration and social security45 | - | €996 | €4,512 | €2,400 | €65 | ▼ 97.3% |
| Taxes450/3 | - | €996 | €4,512 | €2,400 | €65 | ▼ 97.3% |
| Other amounts payable47/48 | - | €4,644 | €7,193 | €910 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€936 | €9,802 | €11,700 | -€1,481 | -€6,707 | ▼ 353% |
| + Depreciation and write-downs630 | - | - | €3,984 | €6,609 | €6,609 | = |
| Operating cash flow (approximation) | -€936 | €9,802 | €15,683 | €5,128 | -€97 | ▼ 102% |
| Investment in fixed assets (approximation) | - | - | -€26,436 | €0 | €0 | - |
| Change in cash | - | -€20,649 | -€4,993 | -€4,039 | -€7,758 | ▼ 92.1% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€6,707
Net result drops to -€6,707, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 13.68
Current ratio from 4.37 to 13.68; short-term debt falls from €4,431 to €1,168.
28-11
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema · 120 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 4.37
Current ratio from 1.74 to 4.37; short-term debt falls from €13,287 to €4,431.
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema · 65 days late
2023
31-12
Financial
Highest result since 2018net €11,700 ▲19.4%
Operating result €17,651, net result €11,700, both a record.
21-09
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema · 52 days late
2022
31-12
Financial
Back to profitnet €9,802
Net result €9,802 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 17 days late
2020
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 55 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €93
Net result €93 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
11-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 72 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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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Identification & contact
Identification
Legal formPrivate limited company
Founded19-04-2011
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.