Checked.be
Active
BE 0872.739.880Private limited company
ZM
Rue de la Croix du Maïeur(S-B) 21 ·7110 La Louvière, Belgium· 21 yrs active
Sector: General construction of residential buildings
(41001)
Conclusion
ZM has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-70k) and a net result of €-164k. Equity is shrinking by ~83.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 1994 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €-70k |
| Net result | €-164k |
| Staff (FTE) | 5.9 |
| Better than sector | 5% |
Financial profile
57
/ 100
Mixed profile: strong on profitability, weaker on health.
All 5 axes are computed from data Checked has read.
Health
12
Profitability
100
Solvency
40
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2005, 21 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
12
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
61
2022
48
2023
48
2024
12
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.82 (< 1.0)
-10
Equity
Negative equity
-25
Profitability
ROE 235% (≥ 10%)
+10
Interest coverage
Interest coverage -2.7× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 12-01-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~83.3%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -16.9% | 42.7% | |
| Net result | €-164k | €40k | |
| Equity | €-70k | €444k | |
| Gross operating margin | €175k | €382k | |
| Staff costs | €274k | €587k |
€-112k
-
22-25
€-164k
-987.5%
22-25
€-153k
-
22-25
€413k
-24.6%
22-25
€-70k
-
22-25
€-84k
-
22-25
6
0.0%
22-25
€274k
-4.0%
22-25
€0
-100.0%
22-25
€0
-100.0%
22-25
€483k
+6.6%
22-25
€473k
+11.2%
22-25
€10k
-63.6%
22-25
0.82
-30.1%
22-25
0.82
-30.1%
22-25
-16.9%
-
22-25
-6.92
-
22-25
235.4%
-
22-25
-39.8%
-1341.5%
22-25
-2.73
-
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | €-112k | €31k | €35k | €11k |
| Net profit | €-164k | €-15k | €-21k | €-47k |
| Cash flow | €-153k | €9k | €16k | €6k |
| Staff costs | €274k | €285k | €62k | €216k |
| Income taxes | €0 | €10k | €7k | €1k |
| Dividends | - | €0 | €62k | €0 |
| Total assets | €413k | €548k | €463k | €565k |
| Equity | €-70k | €95k | €110k | €193k |
| Debt | €483k | €453k | €354k | €373k |
| of which ≤ 1y | €473k | €425k | €301k | €343k |
| of which > 1y | €10k | €28k | €53k | €30k |
| Working capital | €-84k | €74k | €12k | €23k |
| Employees (FTE) | 5.9 | 5.9 | 2.6 | 20.8 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 0.82 | 1.18 | 1.04 | 1.07 |
| Quick ratio | 0.82 | 1.18 | 1.04 | 1.07 |
| Working capital ratio | -20.4% | 13.6% | 2.5% | 4.1% |
| Solvency | -16.9% | 17.3% | 23.7% | 34.1% |
| Debt / equity | -6.92 | 4.79 | 3.22 | 1.94 |
| Long-term debt ratio | -0.15 | 0.30 | 0.48 | 0.15 |
| Interest coverage | -2.73 | 2.58 | 2.79 | 3.23 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -39.8% | -2.8% | -4.5% | -8.4% |
| ROE | 235.4% | -16.0% | -19.0% | -24.6% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €413k | €548k | €463k | €565k |
| Fixed assets | 21/28 | €25k | €48k | €151k | €199k |
| Tangible fixed assets | 22/27 | €15k | €38k | €141k | €189k |
| Financial fixed assets | 28 | €10k | €10k | €10k | €10k |
| Current assets | 29/58 | €389k | €500k | €312k | €366k |
| Amounts receivable within one year | 40/41 | €382k | €494k | €287k | €323k |
| Cash & bank | 54/58 | €2k | €4k | €16k | €34k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €413k | €548k | €463k | €565k |
| Equity | 10/15 | €-70k | €95k | €110k | €193k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €2k | €76k | €91k | €174k |
| Accumulated profits (losses) | 14 | €-90k | €0 | €0 | €0 |
| Amounts payable | 17/49 | €483k | €453k | €354k | €373k |
| Amounts payable after one year | 17 | €10k | €28k | €53k | €30k |
| Amounts payable within one year | 42/48 | €473k | €425k | €301k | €343k |
| Trade debts payable within one year | 44 | €171k | €169k | €197k | €220k |
| Income statement | |||||
| Gross operating margin | 9900 | €175k | €375k | €133k | €254k |
| Operating result | 9901 | €-123k | €7k | €-2k | €-42k |
| Financial income | 75 | - | - | - | €0 |
| Financial charges | 65 | €41k | €12k | €13k | €3k |
| Result before taxes | 9903 | €-164k | €-5k | €-14k | €-46k |
| Income taxes | 67/77 | €0 | €10k | €7k | €1k |
| Net result for the period | 9904 | €-164k | €-15k | €-21k | €-47k |
| Result to be appropriated | 9905 | €-164k | €-15k | €-21k | €-47k |
Legal Structure
| NACE primary | General construction of residential buildings(41001) |
| Legal form | Private limited company(610) |
| Incorporation | 24-03-2005 |
| Status | Active |
| Postal code | 7110 |
Establishment units
ZM
since 20052.146.174.686
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55042A0609/00A002 | Wallonia | 2,172 m² | - | - |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
12-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Weakest financial yearnet €-164k
Net result drops to €-164k, the lowest in the series.
2024
19-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
26-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
07-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
28-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
25-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-01
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.
Belgian State Gazette reading coverage
We know of 17 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General construction of residential buildings41001Site preparation4312045112Construction of roads and motorways42110Demolition4311045111General maintenance and repair of cars and light vans (up to 3.5 tonnes)95311452305020071340Renting and leasing of other machinery, equipment and tangible goods77399Other cleaning activities8123090031
Names & trade names
| Legal nameFR | ZM |
Similar companies
BONNAMI-VANCRAENENBROECK
BE 0538.832.624 · Ath
SOCOL
BE 0771.643.809 · Lubbeek
DE VOGHT
BE 0476.435.492 · Zandhoven
Cedric Willen
BE 1006.535.148 · Herzele
Wood advice & service
BE 0825.762.186 · Sint-Pieters-Leeuw