ZENAIDA

Active

Private limited companyfounded 199332 yrs activeKunstlaan 56, 1000 Brussel, BelgiumKBO/BCE: BE 0451.120.670

The computed 12-month bankruptcy probability of ZENAIDA is 1.7% (moderate). The 2024 annual accounts show equity of €320k and a net result of €-74k. Equity is growing by ~51.9% per year across the filed fiscal years. Its solvency ranks better than 51% of 122 sector peers (fiscal year 2024). The company has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

49 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability7▲+5

Solvency67▼-3

Growth52=

Track record100

Bankruptcy probability, 12 months

1.7% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €15k at 30 days acceptable

Liquidity ample (current ratio 2.2 against 1.9 in 2023; short-term debt: 45.2% of total assets), but 58.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 24

Relative position

BE, all sectors

reference

Sector 24

higher

← fewer bankruptcies more bankruptcies →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

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 2024

Solvency, return and age of the figures

Solvency

41.6%

Return on assets

-9.7%

Age of the figures

21 mo

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year €-74k

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 filings

Deviation from the deadline

2025

not confirmed

2024

61 d late

2023

30 d late

2022

31 d late

2021

60 d late

2020

61 d late

2019

67 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€320k▼ 18.9%

2023 · €394k

2018: €49k 2019: €35k 2020: €179k 2021: €405k 2022: €509k 2023: €394k

2018 → 2024

Total assets

€768k▼ 12.9%

2023 · €882k

2018: €428k 2019: €482k 2020: €704k 2021: €848k 2022: €1.23M 2023: €882k

2018 → 2024

Net result

€-74k▲ 35.4%

2023 · €-115k

2018: €-35k 2019: €-14k 2020: €145k 2021: €227k 2022: €105k 2023: €-115k

2018 → 2024

Working capital

€418k▲ 0.6%

2023 · €416k

2018: €355k 2019: €356k 2020: €521k 2021: €422k 2022: €604k 2023: €416k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€179k-€405k▲ 127%€509k▲ 25.7%€394k▼ 22.6%€320k▼ 18.9%

Operating result€200k-€347k▲ 73.2%€156k▼ 55.0%€-109k€-73k▲ 32.9%

Net result€145k-€227k▲ 57.1%€105k▼ 53.9%€-115k€-74k▲ 35.4%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €73k in 2024 against €109k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €768k

99.6%

Fixed assets €3k▼ 53.3%

Current assets €766k▼ 12.6%

Equity and liabilities €768k

41.6%

58.4%

Equity €320k▼ 18.9%

Debt €448k▼ 8.0%

The debt ratio rises from 55.3% to 58.4%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-70k▲

2023 · €-105k

Cash flow

€-71k▲

2023 · €-111k

Solvency

41.6%▼

2023 · 44.7%

Current ratio

2.20▲

2023 · 1.90

Quick ratio

2.20▲

2023 · 1.90

Debt / equity

1.40▲

2023 · 1.24

ROE

-23.2%▲

2023 · -29.2%

ROA

-9.7%▲

2023 · -13.0%

Interest coverage

-148.02▼

2023 · -17.31

Debt

€448k▼

2023 · €488k

Debt ≤ 1 year

€347k▼

2023 · €460k

Debt > 1 year

€65k

Income taxes

€626▲

2023 · €1

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€882k€768k▼

Fixed assets21/28€6k€3k▼

Tangible fixed assets22/27€6k€2k▼

Plant, machinery and equipment23€2k€614▼

Furniture and vehicles24€980€513▼

Other tangible fixed assets26€2k€1k▼

Financial fixed assets28€285€285=

Current assets29/58€876k€766k▼

Amounts receivable within one year40/41€860k€745k▼

Trade receivables40€381k€283k▼

Other amounts receivable41€478k€462k▼

Cash at bank and in hand54/58€619-

Deferred charges and accrued income490/1€16k€21k▲

Equity and liabilities

Total equity and liabilities10/49€882k€768k▼

Equity10/15€394k€320k▼

Contributions10/11€6k€6k=

Outside capital11€6k€6k=

Share premium1100/10€6k€6k=

Reserves13€302k€302k=

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Distributable reserves133€300k€300k=

Profit (loss) carried forward14€86k€12k▼

Amounts payable17/49€488k€448k▼

Amounts payable after more than one year17-€65k

Financial debts170/4-€65k

Amounts payable within one year42/48€460k€347k▼

Financial debts43-€5k

Credit institutions430/8-€5k

Trade debts44€187k€206k▲

Suppliers440/4€187k€206k▲

Advances received on contracts in progress46€218k€121k▼

Taxes, remuneration and social security45€55k€15k▼

Taxes450/3€55k€15k▼

Accrued charges and deferred income492/3€28k€36k▲

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€3k▼

Other operating charges640/8€9k€3k▼

Gross operating margin9900€-96k€-67k▲

Operating profit (loss)9901€-109k€-73k▲

Financial income75/76B€123-

Recurring financial income75€123-

Financial charges65/66B€6k€474▼

Recurring financial charges65€6k€474▼

Profit (loss) for the period before taxes9903€-115k€-74k▲

Income taxes67/77€1€626▲

Profit (loss) for the period9904€-115k€-74k▲

Profit (loss) for the period to be appropriated9905€-115k€-74k▲

Appropriation of the result

Profit (loss) to be appropriated9906€86k€12k▼

Profit (loss) brought forward from the previous period14P€201k€86k▼

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Financial 6Filings 10

2025

30-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 61 days late

2024

30-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 30 days late

2023

31-12

Financial Weakest financial yearnet €-115k ▼210%

Net result drops to €-115k, the lowest in the series; recovery starts the following year.

31-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 31 days late

2022

31-12

Financial Equity above €500kEq €509k ▲25.7%

3 profitable years in a row build equity to €509k.

29-09

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 60 days late

2021

31-12

Financial Highest result since 2018net €227k ▲57.1%

Operating result €347k, net result €227k, both a record.

31-12

Financial Equity above €200kEq €405k ▲127%

2 profitable years in a row build equity to €405k.

30-09

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 61 days late

2020

31-12

Financial Back to profitnet €145k

Net result €145k after 2 loss-making years.

31-12

Financial Equity above €150kEq €179k ▲414%

Equity rises from €35k to €179k.

06-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 67 days late

2019

30-09

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 61 days late

2018

28-09

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 59 days late

2017

29-09

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 60 days late

2016

26-10

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema · 87 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 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, Brussel · 2 establishment units since 1993

establishment All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Kunstlaan 561000 Brussel

Ground area

5,249 m²

Building footprint

3,368 m²

Volume, LiDAR

85,043 m³

3 parcels, Brussels, Flanders · tallest building 34.5 m, ±9 floors. Linked by address, not a title deed.

2 establishment units

Bilzersteenweg 441, 3700 Tongeren-Borgloon

Air transport

since 19932.064.410.319

Zenaida bvba

Sint-Annadreef 68, 1020 BrusselManufacture of metal structures and parts of structures

since 20082.170.329.864

3 parcels

Flanders 1 (33.3%) Brussels 2 (66.7%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21805E0475/00F000	Brussels	4,653 m²	1 · 2,861 m²	34.5 m · 9 fl.
73069B0607/00V000	Flanders	430 m²	1 · 430 m²	13.6 m · 3 fl.
21816C0194/00M000	Brussels	166 m²	1 · 78 m²	14.7 m · 4 fl.