CSA
ActiveSummary
CSA has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-1.93M) and a net result of €-758k. Equity is shrinking by ~67.9% per year across the filed fiscal years. Its solvency ranks better than 8% of 9715 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability24▼-1
Solvency11▼-5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.88 against 0.92 in 2023; short-term debt: 114.2% and cash: 0.1% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
raises risk · 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 2024Solvency, return and age of the figures
Solvency
-14.2%
Return on assets
-5.6%
Age of the figures
21 mo
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
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-1.93M
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-06-2025, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
41 d early
2023
36 d early
2022
41 d early
2021
39 d early
2020
32 d early
2019
32 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€-1.93M▼ 64.5%
2023 · €-1.17M
2018: €566khighest in 7 years
2019: €254k▼ -55.2% vs 2018
2020: €-35k▼ -114% vs 2019
2021: €-546k▼ -1469% vs 2020
2022: €-500k▲ +8.5% vs 2021
2023: €-1.17M▼ -135% vs 2022
2024: €-1.93M▼ -64.5% vs 2023lowest in 7 years
2018 → 2024
Total assets
€13.63M▼ 0.9%
2023 · €13.75M
2018: €17.75M
2019: €17.64M▼ -0.6% vs 2018
2020: €18.32M▲ +3.8% vs 2019highest in 7 years
2021: €15.97M▼ -12.8% vs 2020
2022: €13.74M▼ -13.9% vs 2021
2023: €13.75M▲ +0.1% vs 2022
2024: €13.63M▼ -0.9% vs 2023lowest in 7 years
2018 → 2024
Net result
€-758k▼ 12.3%
2023 · €-675k
2018: €151khighest in 7 years
2019: €-313k▼ -307% vs 2018
2020: €-288k▲ +7.7% vs 2019
2021: €-511k▼ -77.3% vs 2020
2022: €46k▲ +109% vs 2021
2023: €-675k▼ -1553% vs 2022
2024: €-758k▼ -12.3% vs 2023lowest in 7 years
2018 → 2024
Working capital
€-1.93M▼ 65.1%
2023 · €-1.17M
2018: €1.31M
2019: €1.52M▲ +16.7% vs 2018highest in 7 years
2020: €1.44M▼ -5.3% vs 2019
2021: €1.01M▼ -29.9% vs 2020
2022: €-498k▼ -149% vs 2021
2023: €-1.17M▼ -135% vs 2022
2024: €-1.93M▼ -65.1% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-35k-€-546k▼ 1,469%€-500k▲ 8.5%€-1.17M▼ 135%€-1.93M▼ 64.5%
2020: €-35khighest in 5 years
2021: €-546k▼ -1469% vs 2020
2022: €-500k▲ +8.5% vs 2021
2023: €-1.17M▼ -135% vs 2022
2024: €-1.93M▼ -64.5% vs 2023lowest in 5 years
Operating result€-292k-€-447k▼ 52.8%€316k€-28k€-16k▲ 42.8%
2020: €-292k
2021: €-447k▼ -52.8% vs 2020lowest in 5 years
2022: €316k▲ +171% vs 2021highest in 5 years
2023: €-28k▼ -109% vs 2022
2024: €-16k▲ +42.8% vs 2023
Net result€-288k-€-511k▼ 77.3%€46k€-675k€-758k▼ 12.3%
2020: €-288k
2021: €-511k▼ -77.3% vs 2020
2022: €46k▲ +109% vs 2021highest in 5 years
2023: €-675k▼ -1553% vs 2022
2024: €-758k▼ -12.3% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €16k in 2024 against €28k in 2023; the loss shrinks.
Key figures and ratios
Solvency
-14.2%▼
2023 · -8.5%
Current ratio
0.88▼
2023 · 0.92
Quick ratio
0.00▼
2023 · 0.00
Debt to equity
-8.05▲
2023 · -12.71
ROA
-5.6%▼
2023 · -4.9%
Debt
€15.56M▲
2023 · €14.93M
Debt ≤ 1 year
€15.56M▲
2023 · €14.93M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 35 lines
Balance sheet
Code20232024
Assets
Total assets20/58€13.75M€13.63M▼
Current assets29/58€13.75M€13.63M▼
Stocks and contracts in progress3€13.69M€13.61M▼
Stocks30/36€13.30M€13.18M▼
Contracts in progress37€391k€434k▲
Amounts receivable within one year40/41€43k€0▼
Other amounts receivable41€43k€0▼
Cash at bank and in hand54/58€16k€18k▲
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€13.75M€13.63M▼
Equity10/15€-1.17M€-1.93M▼
Contributions10/11€7k€7k=
Reserves13€184k€184k=
Distributable reserves133€184k€184k=
Profit (loss) carried forward14€-1.37M€-2.12M▼
Amounts payable17/49€14.93M€15.56M▲
Amounts payable within one year42/48€14.93M€15.56M▲
Financial debts43€9.50M€9.50M=
Credit institutions430/8€9.50M€9.50M=
Trade debts44€1.16M€1.25M▲
Suppliers440/4€1.16M€1.25M▲
Advances received on contracts in progress46-€50k
Other amounts payable47/48€4.27M€4.76M▲
Accrued charges and deferred income492/3€4k€0▼
Income statement
Code20232024
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€42k€44k▲
Gross operating margin9900€14k€28k▲
Operating profit (loss)9901€-28k€-16k▲
Financial charges65/66B€647k€742k▲
Recurring financial charges65€647k€742k▲
Profit (loss) for the period before taxes9903€-675k€-758k▼
Profit (loss) for the period9904€-675k€-758k▼
Profit (loss) for the period to be appropriated9905€-675k€-758k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.37M€-2.12M▼
Profit (loss) brought forward from the previous period14P€-690k€-1.37M▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €300k | €-50k | €0 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €80k | €0 | - | - | - |
| Other operating charges640/8 | - | €41k | €44k | €42k | €44k | ▲ 5.5% |
| Gross operating margin9900 | €-38k | €-25k | €310k | €14k | €28k | ▲ 106% |
| Operating profit (loss)9901 | €-292k | €-447k | €316k | €-28k | €-16k | ▲ 42.8% |
| Financial income75/76B | - | €116k | €0 | - | - | - |
| Recurring financial income75 | €232k | €116k | €0 | - | - | - |
| Financial charges65/66B | - | €181k | €270k | €647k | €742k | ▲ 14.7% |
| Recurring financial charges65 | €228k | €181k | €270k | €647k | €742k | ▲ 14.7% |
| Profit (loss) for the period before taxes9903 | €-288k | €-511k | €46k | €-675k | €-758k | ▼ 12.3% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €-288k | €-511k | €46k | €-675k | €-758k | ▼ 12.3% |
| Profit (loss) for the period to be appropriated9905 | €-288k | €-511k | €46k | €-675k | €-758k | ▼ 12.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18.32M | €15.97M | €13.74M | €13.75M | €13.63M | ▼ 0.9% |
| Current assets29/58 | €18.32M | €15.97M | €13.74M | €13.75M | €13.63M | ▼ 0.9% |
| Stocks and contracts in progress3 | €15.82M | €14.30M | €13.65M | €13.69M | €13.61M | ▼ 0.6% |
| Stocks30/36 | - | €13.97M | €13.30M | €13.30M | €13.18M | ▼ 0.9% |
| Contracts in progress37 | - | €325k | €351k | €391k | €434k | ▲ 10.8% |
| Amounts receivable within one year40/41 | €318k | €43k | €43k | €43k | €0 | ▼ 100% |
| Trade receivables40 | - | €0 | - | - | - | - |
| Other amounts receivable41 | - | €43k | €43k | €43k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €10k | €12k | €42k | €16k | €18k | ▲ 11.9% |
| Deferred charges and accrued income490/1 | - | €1.62M | €3k | €3k | €3k | ▲ 15.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18.32M | €15.97M | €13.74M | €13.75M | €13.63M | ▼ 0.9% |
| Equity10/15 | €-35k | €-546k | €-500k | €-1.17M | €-1.93M | ▼ 64.5% |
| Contributions10/11 | - | €7k | €7k | €7k | €7k | = |
| Reserves13 | €184k | €184k | €184k | €184k | €184k | = |
| Distributable reserves133 | - | €184k | €184k | €184k | €184k | = |
| Profit (loss) carried forward14 | €-226k | €-737k | €-690k | €-1.37M | €-2.12M | ▼ 55.5% |
| Provisions and deferred taxes16 | €1.48M | €1.56M | €0 | - | - | - |
| Provisions for liabilities and charges160/5 | - | €1.56M | €0 | - | - | - |
| Environmental obligations163 | - | €1.56M | - | - | - | - |
| Other liabilities and charges164/5 | - | - | €0 | - | - | - |
| Amounts payable17/49 | €16.88M | €14.96M | €14.24M | €14.93M | €15.56M | ▲ 4.3% |
| Amounts payable within one year42/48 | €16.88M | €14.96M | €14.24M | €14.93M | €15.56M | ▲ 4.3% |
| Financial debts43 | - | €10.47M | €10.00M | €9.50M | €9.50M | = |
| Credit institutions430/8 | - | €10.47M | €10.00M | €9.50M | €9.50M | = |
| Trade debts44 | €1.01M | €1.13M | €1.15M | €1.16M | €1.25M | ▲ 7.9% |
| Suppliers440/4 | - | €1.13M | €1.15M | €1.16M | €1.25M | ▲ 7.9% |
| Advances received on contracts in progress46 | - | - | - | - | €50k | - |
| Other amounts payable47/48 | - | €3.36M | €3.09M | €4.27M | €4.76M | ▲ 11.7% |
| Accrued charges and deferred income492/3 | - | €979 | €2k | €4k | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-288k | €-511k | €46k | €-675k | €-758k | ▼ 12.3% |
| Operating cash flow (approximation) | €-288k | €-511k | €46k | €-675k | €-758k | ▼ 12.3% |
| Change in cash | - | €2k | €31k | €-26k | €2k | ▲ 107% |
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
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-758k
Net result drops to €-758k, the lowest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €46k
Net result €46k after 3 loss-making years.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
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, Arendonk · 1 establishment unit since 2004
Ground area
4,994 m²
Building footprint
391 m²
Parcel 13322C1203/00E000, Flanders. Linked by address, not a title deed.
33
companies at this address
See who is registered here
1 establishment unit
CSA
since 20042.144.249.930
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13322C1203/00E000 | Flanders | 4,994 m² | 1 · 391 m² | 0.0 m |
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.
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 5,237 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
Founded07-12-2004
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.