KOSAR

Active

Private limited companyfounded 20196 yrs activeSint-Amandsesteenweg(BOR) 261, 2880 Bornem, BelgiumKBO/BCE: BE 0736.913.453

The computed 12-month bankruptcy probability of KOSAR is 3.9% (moderate). The 2024 annual accounts show equity of €8k and a net result of €3k. Equity is shrinking by ~32.8% per year across the filed fiscal years. Its solvency ranks better than 29% of 18942 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

33 / 100

Weak

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

Axes · tick = 2023

Profitability40▲+27

Solvency28▲+1

Growth32=

Track record100

Bankruptcy probability, 12 months

3.9% Moderate

0%0.5%1.5%4%10%≥ 25%

No publishable credit limit; credit only on tighter terms

Liquidity short (current ratio 0.54 against 0.5 in 2023; short-term debt: 93.8% and cash: 14.1% of total assets), and 97.2% 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

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

+raises risk○neutral

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

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

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

2.8%

Return on assets

0.9%

Age of the figures

21 mo

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-10-2025, 90 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 · 5 filings

Deviation from the deadline

2025

not confirmed

2024

90 d late

2023

49 d early

2022

32 d late

2021

6 d early

2020

31 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

€8k▲ 49.1%

2023 · €5k

2020: €27k 2021: €26k 2022: €17k 2023: €5k

2020 → 2024

Total assets

€276k▼ 4.1%

2023 · €288k

2020: €44k 2021: €99k 2022: €93k 2023: €288k

2020 → 2024

Net result

€3k

2023 · €-12k

2020: €21k 2021: €-1k 2022: €-8k 2023: €-12k

2020 → 2024

Working capital

€-120k▲ 10.5%

2023 · €-134k

2020: €25k 2021: €28k 2022: €13k 2023: €-134k

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€27k-€26k▼ 4.9%€17k▼ 32.5%€5k▼ 70.4%€8k▲ 49.1%

Operating result€24k-€-748€-4k▼ 500%€-10k▼ 128%€6k

Net result€21k-€-1k€-8k▼ 536%€-12k▼ 46.5%€3k

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

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2024: €6k after a loss of €10k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €276k

49.6%

50.4%

Fixed assets €137k▼ 12.5%

Current assets €139k▲ 5.8%

Equity and liabilities €276k

97.2%

Equity €8k▲ 49.1%

Debt €268k▼ 5.1%

The debt ratio falls from 98.2% to 97.2%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

Solvency

2.8%▲

2023 · 1.8%

Current ratio

0.54▲

2023 · 0.50

Quick ratio

0.53▲

2023 · 0.47

Debt / equity

34.90▼

2023 · 54.85

ROE

32.9%▲

2023 · -238.2%

ROA

0.9%▲

2023 · -4.3%

Debt

€268k▼

2023 · €282k

Debt ≤ 1 year

€259k▼

2023 · €265k

Debt > 1 year

€7k▼

2023 · €15k

Income taxes

€2k▲

2023 · €527

Staff costs

€72k▲

2023 · €48k

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€288k€276k▼

Fixed assets21/28€156k€137k▼

Tangible fixed assets22/27€19k-

Furniture and vehicles24€19k-

Financial fixed assets28€137k€137k=

Current assets29/58€131k€139k▲

Stocks and contracts in progress3€6k€2k▼

Stocks30/36€6k€2k▼

Amounts receivable within one year40/41€121k€98k▼

Trade receivables40€84k€54k▼

Other amounts receivable41€37k€43k▲

Cash at bank and in hand54/58€4k€39k▲

Deferred charges and accrued income490/1€2k€282▼

Equity and liabilities

Total equity and liabilities10/49€288k€276k▼

Equity10/15€5k€8k▲

Contributions10/11€6k€6k=

Reserves13€11k€2k▼

Distributable reserves133€11k€2k▼

Profit (loss) carried forward14€-12k-

Amounts payable17/49€282k€268k▼

Amounts payable after more than one year17€15k€7k▼

Financial debts170/4€15k€7k▼

Amounts payable within one year42/48€265k€259k▼

Current portion of amounts payable after more than one year42€7k€8k▲

Financial debts43-€9

Credit institutions430/8-€9

Trade debts44€116k€56k▼

Suppliers440/4€116k€56k▼

Advances received on contracts in progress46-€25k

Taxes, remuneration and social security45€25k€33k▲

Taxes450/3€3k€2k▼

Remuneration and social security454/9€22k€31k▲

Other amounts payable47/48€117k€137k▲

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

Income statement Code20232024

Remuneration, social security and pensions62€48k€72k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k-

Other operating charges640/8€3k€2k▼

Gross operating margin9900€48k€80k▲

Operating profit (loss)9901€-10k€6k▲

Financial income75/76B€3k€3k▲

Recurring financial income75€3k€3k▲

Financial charges65/66B€4k€5k▲

Recurring financial charges65€4k€5k▲

Profit (loss) for the period before taxes9903€-12k€4k▲

Income taxes67/77€527€2k▲

Profit (loss) for the period9904€-12k€3k▲

Profit (loss) for the period to be appropriated9905€-12k€3k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-12k€-10k▲

Profit (loss) brought forward from the previous period14P-€-12k

Transfer from equity791/2-€10k

The notes to these accounts (9 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 7Financial 2Filings 5

2025

29-10

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 90 days late

2024

31-12

Financial Back to profitnet €3k

Net result €3k after 3 loss-making years.

12-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Weakest financial yearnet €-12k

Net result drops to €-12k, the lowest in the series; recovery starts the following year.

01-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 32 days late

2022

25-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 31 days late

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

Directors · office · real estate

Directors

no sitting director, no change since 2025

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

24-07-2025 Muhammed Fatih Kosar: Resigned as Director

05-09-2022 Nikolov Myumyun Davidov: Resigned as Director

Location & real-estate footprint

Registered office, Bornem · 1 establishment unit since 2019

establishment The establishment unit 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.

Sint-Amandsesteenweg(BOR) 2612880 Bornem

Ground area

307 m²

Building footprint

131 m²