ZEPRO
ActiveSummary
The computed 12-month bankruptcy probability of ZEPRO is 2.2% (moderate). The 2025 annual accounts show equity of €134,382 and a net result of -€31,635. Equity is growing by ~15.3% per year across the filed fiscal years. Its solvency ranks better than 63% of 28184 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability1▼-77
Solvency84▲+8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 2.54 against 2.12 in 2024; short-term debt: 38.9% and cash: 36.6% of total assets), and 41.3% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+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 →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-09-2026, 42 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 · 8 filingsDeviation from the deadline
2025
42 d late
2024
16 d early
2023
47 d late
2022
65 d late
2021
105 d late
2020
112 d late
2019
80 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 62 days after 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 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
-€31,635
2024 · €52,672
Working capital
€137,153▼ 19.2%
2024 · €169,757
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€64,359▼ 14.5%€2,817▼ 95.6%€37,821▲ 1,243%€87,924▲ 132%-€30,280
Net result€54,255▼ 7.3%€4,438▼ 91.8%€33,655▲ 658%€52,672▲ 56.5%-€31,635
Equity€115,253▲ 29.5%€119,691▲ 3.9%€133,346▲ 11.4%€166,017▲ 24.5%€134,382▼ 19.1%
Total assets€351,653▼ 44.4%€294,594▼ 16.2%€188,383▼ 36.1%€322,672▲ 71.3%€229,071▼ 29.0%
Debt€236,400▼ 56.5%€174,904▼ 26.0%€55,038▼ 68.5%€156,654▲ 185%€94,689▼ 39.6%
Working capital€101,505▲ 46.8%€177,697▲ 75.1%€137,085▼ 22.9%€169,757▲ 23.8%€137,153▼ 19.2%
Staff (FTE)2
Why a figure moved sharply
- 2024 Total assets +71% on 2023. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €30,280 after €87,924 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €229,071
Fixed assets
€2,869 ▲ 51.0%
Current assets
€226,202 ▼ 29.5%
Equity and liabilities €229,071
Equity
€134,382 ▼ 19.1%
Debt
€94,689 ▼ 39.6%
Debt's share of the balance-sheet total falls from 48.5% to 41.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€30,179
Cash flow
-€31,534
Current ratio
2.54▲
2024 · 2.12
Debt to equity
0.70▼
2024 · 0.94
ROE
-23.5%▼
2024 · 31.7%
ROA
-13.8%▼
2024 · 16.3%
Interest coverage
-22.15
Debt ≤ 1 year
€89,049▼
2024 · €151,014
Staff costs
€61,179▼
2024 · €80,596
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,595 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.3%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 3,595 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €47,011 | €80,596 | €61,179 | ▼ 24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,094 | €5,924 | €5,924 | - | €101 | - |
| Other operating charges640/8 | €4,928 | €419 | €523 | €497 | €1,835 | ▲ 269% |
| Gross operating margin9900 | €75,381 | €9,160 | €91,279 | €169,017 | €32,835 | ▼ 80.6% |
| Operating profit (loss)9901 | €64,359 | €2,817 | €37,821 | €87,924 | -€30,280 | ▼ 134% |
| Financial income75/76B | - | €1,845 | €279 | €0 | €7 | ▲ 23,933% |
| Recurring financial income75 | - | €1,845 | €279 | €0 | €7 | ▲ 23,933% |
| Financial charges65/66B | €134 | €224 | €224 | €414 | €1,362 | ▲ 229% |
| Recurring financial charges65 | €134 | €224 | €224 | €414 | €1,362 | ▲ 229% |
| Profit (loss) for the period before taxes9903 | €64,226 | €4,438 | €37,875 | €87,510 | -€31,635 | ▼ 136% |
| Income taxes67/77 | €9,971 | - | €4,221 | €34,838 | - | - |
| Profit (loss) for the period9904 | €54,255 | €4,438 | €33,655 | €52,672 | -€31,635 | ▼ 160% |
| Profit (loss) for the period to be appropriated9905 | €54,255 | €4,438 | €33,655 | €52,672 | -€31,635 | ▼ 160% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €351,653 | €294,594 | €188,383 | €322,672 | €229,071 | ▼ 29.0% |
| Fixed assets21/28 | €13,748 | €7,824 | €1,900 | €1,900 | €2,869 | ▲ 51.0% |
| Tangible fixed assets22/27 | €11,848 | €5,924 | - | - | €969 | - |
| Furniture and vehicles24 | €11,848 | €5,924 | - | - | €969 | - |
| Financial fixed assets28 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Current assets29/58 | €337,905 | €286,771 | €186,483 | €320,772 | €226,202 | ▼ 29.5% |
| Amounts receivable after more than one year29 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Other amounts receivable291 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Amounts receivable within one year40/41 | €27,903 | €102,473 | €61,081 | €162,651 | €38,370 | ▼ 76.4% |
| Trade receivables40 | €20,519 | €77,643 | €17,343 | €148,995 | €37,684 | ▼ 74.7% |
| Other amounts receivable41 | €7,383 | €24,830 | €43,738 | €13,657 | €686 | ▼ 95.0% |
| Cash at bank and in hand54/58 | €310,003 | €84,297 | €25,403 | €55,699 | €83,799 | ▲ 50.5% |
| Deferred charges and accrued income490/1 | - | - | - | €2,422 | €4,032 | ▲ 66.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €351,653 | €294,594 | €188,383 | €322,672 | €229,071 | ▼ 29.0% |
| Equity10/15 | €115,253 | €119,691 | €133,346 | €166,017 | €134,382 | ▼ 19.1% |
| Contributions10/11 | €12,700 | €12,700 | €12,700 | €12,700 | €12,700 | = |
| Capital10 | €12,700 | €12,700 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | €5,900 | €5,900 | - | - | - | - |
| Reserves13 | €102,553 | €102,553 | €102,553 | €102,553 | €102,553 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €100,693 | €100,693 | €100,693 | €100,693 | €100,693 | = |
| Profit (loss) carried forward14 | - | €4,438 | €18,092 | €50,764 | €19,129 | ▼ 62.3% |
| Amounts payable17/49 | €236,400 | €174,904 | €55,038 | €156,654 | €94,689 | ▼ 39.6% |
| Amounts payable within one year42/48 | €236,400 | €109,074 | €49,398 | €151,014 | €89,049 | ▼ 41.0% |
| Trade debts44 | €158,621 | €91,178 | €1,301 | €58,196 | €38,497 | ▼ 33.8% |
| Suppliers440/4 | €158,621 | €91,178 | €1,301 | €58,196 | €38,497 | ▼ 33.8% |
| Taxes, remuneration and social security45 | €31,603 | €3,096 | €4,295 | €23,261 | €3,180 | ▼ 86.3% |
| Taxes450/3 | €28,865 | €3,096 | €4,295 | €17,294 | €404 | ▼ 97.7% |
| Remuneration and social security454/9 | €2,738 | - | - | €5,967 | €2,776 | ▼ 53.5% |
| Other amounts payable47/48 | €46,176 | €14,800 | €43,802 | €69,557 | €47,372 | ▼ 31.9% |
| Accrued charges and deferred income492/3 | - | €65,830 | €5,640 | €5,640 | €5,640 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,255 | €4,438 | €33,655 | €52,672 | -€31,635 | ▼ 160% |
| + Depreciation and write-downs630 | €6,094 | €5,924 | €5,924 | - | €101 | - |
| Operating cash flow (approximation) | €60,349 | €10,362 | €39,579 | €52,672 | -€31,534 | ▼ 160% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€1,070 | - |
| Change in cash | - | -€225,705 | -€58,894 | €30,296 | €28,101 | ▼ 7.2% |
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
11-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 42 days late
2025
31-12
Financial
Weakest financial yearnet -€31,635
Net result drops to -€31,635, the lowest in the series.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €150,000Eq €166,017 ▲24.5%
7 profitable years in a row build equity to €166,017.
16-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 47 days late
2023
04-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 65 days late
2022
13-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 105 days late
2021
31-12
Financial
Equity above €100,000Eq €115,253 ▲29.5%
4 profitable years in a row build equity to €115,253.
20-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 112 days late
2020
31-12
Financial
Highest result since 2018net €58,549 ▲40%
Net result €58,549, the highest in the series.
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 80 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Elsene · 1 establishment unit since 2018
Ground area
1,313 m²
Building footprint
905 m²
Volume, LiDAR
17,493 m³
2 parcels, Brussels · tallest building 29.8 m, ±8 floors. Linked by address, not a title deed.
276
companies at this address
See who is registered here
1 establishment unit
Oorlogskruisenlaan 311, 1120 Brussel
since 20182.272.134.235
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21819D0202/00B003 | Brussels | 833 m² | 1 · 487 m² | 22.8 m · 5 fl. |
| 21807G0120/00H005 | Brussels | 480 m² | 1 · 417 m² | 29.8 m · 8 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 607 companies in sector 43130 we hold annual accounts for 302. 237 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 (pre-2019)
Founded10-01-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43130Specialised construction activities
81220Other building cleaning and industrial cleaning
43211General electrical installation work
43230Insulation installation
43350Other building finishing work
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0687744549
Registered
28-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.