NCSE
ActiveNCSE has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57k and a net result of €-2k. Equity is growing by ~18.7% per year across the filed fiscal years. Its solvency ranks better than 38% of 7673 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
63
/ 100
Healthy▲ +14 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-31
Solvency66▲+17
Growth52=
Stability100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 1.52 against 0.42 in 2024), but 65.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+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
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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 · 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 2025Solvency, return and age of the figures
Solvency
34.6%
Return on assets
-1.4%
Age of the figures
8 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 26-08-2026, 26 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 · 10 filingsDeviation from the deadline
2025
26 d late
2024
1 d early
2023
14 d early
2022
29 d late
2021
31 d late
2020
109 d late
2019
122 d late
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€57k▼ 3.9%
2024 · €59k
2018: €22k
2019: €6k
2020: €-15k
2021: €-21k
2022: €47k
2023: €55k
2024: €59k
2018 → 2025
Total assets
€164k▲ 6.9%
2024 · €153k
2018: €272k
2019: €324k
2020: €333k
2021: €298k
2022: €144k
2023: €143k
2024: €153k
2018 → 2025
Net result
€-2k
2024 · €4k
2018: €9k
2019: €-16k
2020: €-21k
2021: €-5k
2022: €67k
2023: €9k
2024: €4k
2018 → 2025
Working capital
€13k
2024 · €-25k
2018: €-16k
2019: €-31k
2020: €-37k
2021: €-33k
2022: €-907
2023: €-6k
2024: €-25k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-21k-€47k€55k▲ 18.3%€59k▲ 6.5%€57k▼ 3.9%
Operating result€7k-€83k▲ 1,175%€14k▼ 82.8%€10k▼ 33.0%€182▼ 98.1%
Net result€-5k-€67k€9k▼ 87.2%€4k▼ 57.8%€-2k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 98% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €164k
Fixed assets
€125k▼ 8.0%
Current assets
€39k▲ 122%
Equity and liabilities €164k
Equity
€57k▼ 3.9%
Debt
€107k▲ 13.8%
The debt ratio rises from 61.4% to 65.4%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€17k▼
2024 · €26k
Cash flow
€14k▼
2024 · €20k
Solvency
34.6%▼
2024 · 38.6%
Current ratio
1.52▲
2024 · 0.42
Quick ratio
1.16▲
2024 · 0.27
Debt / equity
1.89▲
2024 · 1.59
ROE
-4.1%▼
2024 · 6.1%
ROA
-1.4%▼
2024 · 2.4%
Interest coverage
6.64▲
2024 · 5.75
Debt
€107k▲
2024 · €94k
Debt ≤ 1 year
€26k▼
2024 · €42k
Debt > 1 year
€40k▼
2024 · €49k
Staff costs
€1k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€153k€164k▲
Fixed assets21/28€136k€125k▼
Tangible fixed assets22/27€136k€125k▼
Land and buildings22€73k€68k▼
Plant, machinery and equipment23€5k€4k▼
Furniture and vehicles24€56k€52k▼
Other tangible fixed assets26€1k€803▼
Current assets29/58€18k€39k▲
Stocks and contracts in progress3€6k€9k▲
Stocks30/36€6k€9k▲
Amounts receivable within one year40/41€8k€9k▲
Trade receivables40€8k€2k▼
Other amounts receivable41-€7k
Cash at bank and in hand54/58€1k€18k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€153k€164k▲
Equity10/15€59k€57k▼
Contributions10/11€6k€6k=
Outside capital11€6k€6k=
Other1109/19€6k€6k=
Reserves13€10k€10k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€8k€8k=
Profit (loss) carried forward14€43k€41k▼
Amounts payable17/49€94k€107k▲
Amounts payable after more than one year17€49k€40k▼
Financial debts170/4€49k€40k▼
Amounts payable within one year42/48€42k€26k▼
Current portion of amounts payable after more than one year42€9k€9k▲
Financial debts43€25k-
Credit institutions430/8€25k-
Trade debts44€1k€5k▲
Suppliers440/4€1k€5k▲
Taxes, remuneration and social security45€6k€12k▲
Taxes450/3€4k€10k▲
Remuneration and social security454/9€2k€2k▲
Other amounts payable47/48€1k-
Accrued charges and deferred income492/3€2k€41k▲
Income statement
Code20242025
Non-recurring operating income76A€3k€11k▲
Remuneration, social security and pensions62-€1k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€16k▲
Other operating charges640/8-€62
Gross operating margin9900€26k€18k▼
Operating profit (loss)9901€10k€182▼
Financial income75/76B€5€0▼
Recurring financial income75€5€0▼
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€5k€-2k▼
Income taxes67/77€1k-
Profit (loss) for the period9904€4k€-2k▼
Profit (loss) for the period to be appropriated9905€4k€-2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€43k€41k▼
Profit (loss) brought forward from the previous period14P€39k€43k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
31-12
Financial
Liquidity quadruplescurrent ratio 1.52
Current ratio from 0.42 to 1.52; short-term debt falls from €42k to €26k.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Back to profitnet €67k
Net result €67k after 3 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
17-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 109 days late
2020
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
11-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 72 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · 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
7 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, Eghezée · 1 establishment unit since 2011
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.
Rue du Monceau,Mehaigne 235310 EghezéeGround area
1,066 m²
Building footprint
140 m²
Parcel 92086A0044/00Y000, Wallonia. Linked by address, not a title deed.
1 establishment unit
NCSE
since 20112.196.648.142
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92086A0044/00Y000 | Wallonia | 1,066 m² | 1 · 140 m² | - |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
DE BOEVER TECHNISCHE INSTALLATIES
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FRIGITHERM
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ETS OLIVIER URBAIN ET FRERE
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SMZ ENERGIE
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Of 9,478 companies in sector 43222 we hold annual accounts for 5,626. 4,620 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded24-02-2011
Fiscal year end31-12
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
62020IT consultancy
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.