Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of OSA CONSTRUCT is 7.0% (elevated). The 2023 annual accounts show negative equity (€-13k) and a net result of €-36k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 3161 sector peers (fiscal year 2023). The company has been active since 2018 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Based on the State Gazette, CBE and 6 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone7.0%
Elevated
0%0,5%1,5%4%10%≥25%
Annual accounts: weaker financial profile
+Recent warning signals
+Higher-failure-rate sector
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Insolvency timeline
1 event03-11-2025
KBO administration
Address struck
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2023: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideAnnual accounts not filed
The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 394 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.
Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 27-09-2024, 58 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.
How we compute the deadline
The year end is derived from 6 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | nothing on record | not filed | - |
| 31-12-2023 | 31-07-2024 | 27-09-2024 | 58 d late | 2024-00476485 |
| 31-12-2022 | 31-07-2023 | 21-08-2023 | 21 d late | 2023-00338094 |
| 31-12-2021 | 31-07-2022 | 14-09-2022 | 45 d late | 2022-20431543 |
| 31-12-2020 | 31-07-2021 | 30-09-2021 | 61 d late | 2021-70300272 |
| 31-12-2019 | 31-07-2020 | 30-09-2020 | 61 d late | 2020-57200426 |
| 31-12-2018 | 31-07-2019 | 21-11-2019 | 113 d late | 2019-74300141 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
1 signalNo legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
1 eventAddress struck
Financials
Turnover€610k-13.7%
EBIT margin-1.1%-12.2pp
Net result€-36k
Working capital€-45k-9249.7%
Annual accounts & ratios
Source: NBB · 2023Annual accounts filed on 27-09-2024 with the NBB · fiscal year 2023 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~97% of the level (threshold 35%). We therefore deliberately show no projection line.
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 2023 · NACE 41, Construction of buildings · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -14.6% | 37.5% | |
| Net result | €-36k | €9k | |
| Equity | €-13k | €25k | |
| Gross operating margin | €163k | €27k | |
| Staff costs | €113k | €20k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P8
Weakening position over 2020-2023
· n=497-3161
P5
Weakening position over 2020-2023
· n=495-3153
P6
Weakening position over 2020-2023
· n=500-3166
P93
Stable position over 2020-2023
· n=496-3147
Describes the position versus peers, not a forecast.
€610k
-13.7%
18-23
€12k
-87.6%
18-23
€-36k
-
18-23
€-17k
-
18-23
€89k
-71.1%
18-23
€-13k
-
18-23
€-45k
-9249.7%
18-23
2
+84.6%
18-23
Show 15 other metrics
€113k
+26.4%
18-23
€27k
+25.0%
18-23
€204k
-
18-23
€102k
-64.3%
18-23
€91k
-65.8%
18-23
€11k
-44.6%
18-23
0.50
-49.6%
18-23
0.50
-49.6%
18-23
-14.6%
-
18-23
-7.87
-
18-23
274.1%
-5.9%
18-23
-39.9%
-
18-23
-5.8%
-
18-23
2.0%
-85.6%
18-23
5.63
-88.4%
18-23
Figures by fiscal year
| Fiscal year | 2023 |
|---|---|
| Deposit | micro |
| Revenue | €610k |
| EBITDA | €12k |
| Net profit | €-36k |
| Cash flow | €-17k |
| Staff costs | €113k |
| Income taxes | €27k |
| Dividends | - |
| Total assets | €89k |
| Equity | €-13k |
| Debt | €102k |
| of which ≤ 1y | €91k |
| of which > 1y | €11k |
| Working capital | €-45k |
| Employees (FTE) | - |
Ratios (computed)
| 2023 | |
|---|---|
| Current ratio | 0.50 |
| Quick ratio | 0.50 |
| Working capital ratio | -50.8% |
| Solvency | -14.6% |
| Debt / equity | -7.87 |
| Long-term debt ratio | -0.85 |
| Interest coverage | 5.63 |
| Gross margin | 26.0% |
| Net margin | -5.8% |
| ROA | -39.9% |
| ROE | 274.1% |
| EBITDA margin | 2.0% |
| Days sales outstanding | 11d |
| Days payable outstanding | 11d |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2023
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €89k |
| Fixed assets | 21/28 | €43k |
| Tangible fixed assets | 22/27 | €43k |
| Financial fixed assets | 28 | €100 |
| Current assets | 29/58 | €46k |
| Amounts receivable within one year | 40/41 | €34k |
| Cash & bank | 54/58 | €10k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €89k |
| Equity | 10/15 | €-13k |
| Contributions / capital | 10/11 | €1 |
| Reserves | 13 | €19k |
| Accumulated profits (losses) | 14 | €-32k |
| Amounts payable | 17/49 | €102k |
| Amounts payable after one year | 17 | €11k |
| Amounts payable within one year | 42/48 | €91k |
| Trade debts payable within one year | 44 | €14k |
| Income statement | ||
| Turnover | 70 | €610k |
| Gross operating margin | 9900 | €163k |
| Operating result | 9901 | €-6k |
| Financial income | 75 | €436 |
| Financial charges | 65 | €2k |
| Result before taxes | 9903 | €-8k |
| Income taxes | 67/77 | €27k |
| Net result for the period | 9904 | €-36k |
| Result to be appropriated | 9905 | €-36k |
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2023 · computed27
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.
Directors
Directors & mandates
2 directors8 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.
Current directors & mandates
-
LULZIM GashiDirectorState Gazette act 24165282 (22-11-2024)Current22-11-2024 → present
Former directors (1)
-
MULAKA PetritDirectorState Gazette act 24165282 (22-11-2024)Former- → 22-11-2024
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Algemene bouw van residentiële gebouwen(41001) |
| Legal form | Private limited company(610) |
| Incorporation | 27-04-2018 |
| Status | Active |
| Postal code | - |
Structure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationOSA CONSTRUCT
since 20182.278.571.471
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area96 m²
Buildings1
Building footprint67 m²
Volume (LiDAR)692 m³
Tallest building12.6 m · ±4 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21006A0227/00D002 | Brussels | 96 m² | 1 · 67 m² | 12.6 m · 4 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
1 event from the State Gazette03-11-2025
KBO administration
Address struck
Time machine: BS events + macro context
2021-2026Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad · acts
2 acts Capital history · 2
22-11-2024
Capital change
11-09-2024
Capital change
All acts · 2
updated 1 year ago
2024
22-11-2024 Transaction in capital or shares
11-09-2024 Transaction in capital or shares
Analysis
Financial profile
5 of 5 axes measured49
/ 100
Mixed profile: strong on stability, weaker on health.
All 5 axes are computed from data Checked has read.
Health
27
Profitability
37
Solvency
33
Growth
55
Stability
92
Credit advice
verdict per customer and amountSimilar
Similar companies
Comparable size, same sectorBE 0777.394.721 · Wommelgem
BE 0772.458.807 · Verviers
BE 0788.535.170 · Heist-op-den-Berg
BE 0730.990.317 · Herne
BE 0763.818.382 · Ciney
We hold annual accounts for 5,401 of the 29,624 companies in this sector. 4,774 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Algemene bouw van residentiële gebouwen41001
Primary activity highlighted.
Names & trade names
| Legal nameFR | OSA CONSTRUCT |
Registration history
- 03-11-2025 Address struck
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.