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ULTISYN

Active
Private limited companyfounded 20196 yrs activeKoninklijke Baan(Kok) 122, 8670 Koksijde, BelgiumKBO/BCE: BE 0739.863.837
Summary

ULTISYN has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €16,945 and a net result of €43,197. Its solvency ranks better than 25% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability80▲+75
Solvency28▲+19
Growth78
Track record100
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity ample (current ratio 1.9 against 1.91 in 2024; short-term debt: 14.4% and cash: 3.8% of total assets), but 96.6% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 6 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
3.4%
Return on assets
8.8%
Age of the figures
9 mo
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 · 2 filings
Deviation from the deadline
2025
31 d late
2024
60 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 46 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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

History

On 20 December 2019, ULTISYN was incorporated as a Private limited company.1 DB BEHEER was merged into the company in 2024.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€16,945
2024 · -€25,253
Total assets
€491,919▲ 210%
2024 · €158,905
Net result
€43,197
2024 · -€136,708
Working capital
€63,654▲ 43.1%
2024 · €44,496
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20242025
Operating result€108,326-€73,625▼ 32.0%
Net result-€136,708below the sector's middle half-€43,197above the sector's middle half
Equity-€25,253below the sector's middle half-€16,945within the sector's middle half
Total assets€158,905within the sector's middle half-€491,919within the sector's middle half▲ 210%
Debt€184,158-€474,974▲ 158%
Working capital€44,496within the sector's middle half-€63,654within the sector's middle half▲ 43.1%
Solvency-15.9%below the sector's middle half-3.4%within the sector's middle half▲ 19.3pp
Current ratio1.91within the sector's middle half-1.90within the sector's middle half▼ 0.01
Return on assets (ROA)-86.0%below the sector's middle half-8.8%within the sector's middle half▲ 94.8pp
Staff (FTE)1.6-1.9▲ 18.8%
above within below the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€200,000-€100,000€0€100,000Operating result 2024: €108,326€108,326Net result 2024: -€136,708-€136,708Operating result 2025: €73,625€73,625Net result 2025: €43,197€43,19720242025-€200,000-€100,000€0€100,000Operating result 2024: €108,326€108,000Net result 2024: -€136,708-€137,000Operating result 2025: €73,625€73,600Net result 2025: €43,197€43,20020242025
The operating result falls in 2025; 2025 is 32% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €491,919
Fixed assets €357,183 ▲ 445%
Current assets €134,736 ▲ 44.2%
Equity and liabilities €491,919
Equity €16,945
Debt €474,974
Debt finances 96.6% of the balance-sheet total.
Key figures and ratios
2025 value · change against 2024
EBITDA
€141,788▲
2024 · €134,824
Cash flow
€111,361▲
2024 · -€110,209
Debt to equity
28.03▲
2024 · -7.29
ROE
254.9%
Interest coverage
7.46▲
2024 · 0.60
Debt ≤ 1 year
€71,082▲
2024 · €48,930
Debt > 1 year
€403,893▲
2024 · €135,228
Income taxes
€14,413▼
2024 · €21,649
Staff costs
€93,994▲
2024 · €73,480
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,153 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.

  • Micro
  • 5 to 10 years old
  • solvency under 10%
  • a profit of 5% of the balance sheet or more
1.7% went bankrupt
2.2% stopped otherwise
96% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.9%
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 2,153 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet Code20242025
Assets
Total assets20/58€158,905€491,919▲
Fixed assets21/28€65,480€357,183▲
Intangible fixed assets21€19,597€8,597▼
Tangible fixed assets22/27€45,882€348,586▲
Land and buildings22-€315,126
Plant, machinery and equipment23€10,996€7,067▼
Furniture and vehicles24€8,761€6,074▼
Other tangible fixed assets26€26,125€20,319▼
Current assets29/58€93,426€134,736▲
Amounts receivable within one year40/41€75,313€113,000▲
Trade receivables40€46,050€43,827▼
Other amounts receivable41€29,263€69,173▲
Cash at bank and in hand54/58€16,399€18,905▲
Deferred charges and accrued income490/1€1,714€2,830▲
Equity and liabilities
Total equity and liabilities10/49€158,905€491,919▲
Equity10/15-€25,253€16,945▲
Contributions10/11€90,000€90,000=
Profit (loss) carried forward14-€115,253-€73,055▲
Amounts payable17/49€184,158€474,974▲
Amounts payable after more than one year17€135,228€403,893▲
Financial debts170/4€135,228€403,893▲
Amounts payable within one year42/48€48,930€71,082▲
Current portion of amounts payable after more than one year42€35,350€49,957▲
Trade debts44€3,062€6,196▲
Suppliers440/4€3,062€6,196▲
Taxes, remuneration and social security45€10,518€14,929▲
Taxes450/3€1,775€4,396▲
Remuneration and social security454/9€8,743€10,533▲
Income statement Code20242025
Non-recurring operating income76A€3,043-
Remuneration, social security and pensions62€73,480€93,994▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26,499€68,164▲
Other operating charges640/8€1,415€2,174▲
Gross operating margin9900€209,719€237,957▲
Operating profit (loss)9901€108,326€73,625▼
Financial income75/76B€661€2,985▲
Recurring financial income75€661€2,985▲
Financial charges65/66B€224,046€19,000▼
Recurring financial charges65€224,046€19,000▼
Profit (loss) for the period before taxes9903-€115,059€57,610▲
Income taxes67/77€21,649€14,413▼
Profit (loss) for the period9904-€136,708€43,197▲
Profit (loss) for the period to be appropriated9905-€136,708€43,197▲
Appropriation of the result
Profit (loss) to be appropriated9906-€136,708-€72,055▲
Profit (loss) brought forward from the previous period14P--€115,253
Transfer from equity791/2€22,755-
Profit to be distributed694/7€1,300€1,000▼
Directors or managers695€1,300€1,000▼

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Non-recurring operating income76A€3,043--
Remuneration, social security and pensions62€73,480€93,994▲ 27.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26,499€68,164▲ 157%
Other operating charges640/8€1,415€2,174▲ 53.6%
Gross operating margin9900€209,719€237,957▲ 13.5%
Operating profit (loss)9901€108,326€73,625▼ 32.0%
Financial income75/76B€661€2,985▲ 352%
Recurring financial income75€661€2,985▲ 352%
Financial charges65/66B€224,046€19,000▼ 91.5%
Recurring financial charges65€224,046€19,000▼ 91.5%
Profit (loss) for the period before taxes9903-€115,059€57,610▲ 150%
Income taxes67/77€21,649€14,413▼ 33.4%
Profit (loss) for the period9904-€136,708€43,197▲ 132%
Profit (loss) for the period to be appropriated9905-€136,708€43,197▲ 132%
Line20242025Change
Assets
Total assets20/58€158,905€491,919▲ 210%
Fixed assets21/28€65,480€357,183▲ 445%
Intangible fixed assets21€19,597€8,597▼ 56.1%
Tangible fixed assets22/27€45,882€348,586▲ 660%
Land and buildings22-€315,126-
Plant, machinery and equipment23€10,996€7,067▼ 35.7%
Furniture and vehicles24€8,761€6,074▼ 30.7%
Other tangible fixed assets26€26,125€20,319▼ 22.2%
Current assets29/58€93,426€134,736▲ 44.2%
Amounts receivable within one year40/41€75,313€113,000▲ 50.0%
Trade receivables40€46,050€43,827▼ 4.8%
Other amounts receivable41€29,263€69,173▲ 136%
Cash at bank and in hand54/58€16,399€18,905▲ 15.3%
Deferred charges and accrued income490/1€1,714€2,830▲ 65.2%
Equity and liabilities
Total equity and liabilities10/49€158,905€491,919▲ 210%
Equity10/15-€25,253€16,945▲ 167%
Contributions10/11€90,000€90,000=
Profit (loss) carried forward14-€115,253-€73,055▲ 36.6%
Amounts payable17/49€184,158€474,974▲ 158%
Amounts payable after more than one year17€135,228€403,893▲ 199%
Financial debts170/4€135,228€403,893▲ 199%
Amounts payable within one year42/48€48,930€71,082▲ 45.3%
Current portion of amounts payable after more than one year42€35,350€49,957▲ 41.3%
Trade debts44€3,062€6,196▲ 102%
Suppliers440/4€3,062€6,196▲ 102%
Taxes, remuneration and social security45€10,518€14,929▲ 41.9%
Taxes450/3€1,775€4,396▲ 148%
Remuneration and social security454/9€8,743€10,533▲ 20.5%
Line20242025Change
Profit (loss) for the period9904-€136,708€43,197▲ 132%
+ Depreciation and write-downs630€26,499€68,164▲ 157%
Operating cash flow (approximation)-€110,209€111,361▲ 201%
Investment in fixed assets (approximation)--€359,867-
Change in cash-€2,507-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
31-08
NBB filing Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial Back to profitnet €43,197
Net result €43,197 after one loss-making year.
29-09
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts

We know of 8 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
8 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, Koksijde · 1 establishment unit since 2019
seat establishment The establishment unit on the map
Ground area
938 m²
Building footprint
643 m²
Parcel 38342G1134/00A000, Flanders. Linked by address, not a title deed.
1 establishment unit
ULTISYN
Koninklijke Baan(Kok) 122, 8670 KoksijdeAgents specialised in the wholesale of other particular products
since 20192.297.559.024
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
38342G1134/00A000 Flanders 938 m² 1 · 643 m² -
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.

Structure & network

Connections & network

No current directors or connected companies found in the register.

Acquisitions and mergers

1 transaction
Took over:DB BEHEER
BE 0840.137.883according to the KBO register since 21-10-2024

Similar companies · same sector, comparable size

Of 3,762 companies in sector 68321 we hold annual accounts for 1,394. 658 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
Founded20-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68321Property management for co-owned buildings (syndics)
E-invoicing
Reachable via Peppol
Peppol ID 0208:0739863837
Also 9925:BE0739863837
Registered 22-10-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.