QES
ActiveSummary
QES has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €66k and a net result of €37k. Equity is growing by ~34.6% per year across the filed fiscal years. Its solvency ranks better than 51% of 994 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+2
Solvency72▼-3
Growth78=
Track record94
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity ample (current ratio 1.78 against 1.98 in 2024; short-term debt: 51.9% and cash: 64.2% of total assets), but 53% of the assets are financed with debt.
Credit check for your own amount and term
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 dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more 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 2025Solvency, return and age of the figures
Solvency
47%
Return on assets
26.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-06-2026, 50 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
50 d early
2024
20 d early
2023
65 d late
2022
31 d late
← before the deadline
after the deadline →
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 monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€66k▲ 35.0%
2024 · €49k
2022: €27k
2023: €26k▼ -3.2% vs 2022lowest in 4 years
2024: €49k▲ +85.4% vs 2023
2025: €66k▲ +35.0% vs 2024highest in 4 years
2022 → 2025
Total assets
€140k▲ 44.6%
2024 · €97k
2022: €78klowest in 4 years
2023: €109k▲ +39.2% vs 2022
2024: €97k▼ -11.2% vs 2023
2025: €140k▲ +44.6% vs 2024highest in 4 years
2022 → 2025
Net result
€37k▲ 65.2%
2024 · €22k
2022: €22k
2023: €-860▼ -104% vs 2022lowest in 4 years
2024: €22k▲ +2703% vs 2023
2025: €37k▲ +65.2% vs 2024highest in 4 years
2022 → 2025
Working capital
€56k▲ 47.2%
2024 · €38k
2022: €15k
2023: €14k▼ -4.3% vs 2022lowest in 4 years
2024: €38k▲ +169% vs 2023
2025: €56k▲ +47.2% vs 2024highest in 4 years
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€27k-€26k▼ 3.2%€49k▲ 85.4%€66k▲ 35.0%
2022: €27k
2023: €26k▼ -3.2% vs 2022lowest in 4 years
2024: €49k▲ +85.4% vs 2023
2025: €66k▲ +35.0% vs 2024highest in 4 years
Operating result€27k-€3k▼ 88.8%€31k▲ 898%€50k▲ 62.4%
2022: €27k
2023: €3k▼ -88.8% vs 2022lowest in 4 years
2024: €31k▲ +898% vs 2023
2025: €50k▲ +62.4% vs 2024highest in 4 years
Net result€22k-€-860€22k€37k▲ 65.2%
2022: €22k
2023: €-860▼ -104% vs 2022lowest in 4 years
2024: €22k▲ +2703% vs 2023
2025: €37k▲ +65.2% vs 2024highest in 4 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 62% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140k
Fixed assets
€11k ▼ 43.7%
Current assets
€129k ▲ 66.7%
Equity and liabilities €140k
Equity
€66k ▲ 35.0%
Debt
€74k ▲ 54.3%
Debt's share of the balance-sheet total rises from 49.7% to 53.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€58k▲
2024 · €39k
Cash flow
€45k▲
2024 · €31k
Current ratio
1.78▼
2024 · 1.98
Quick ratio
1.72▼
2024 · 1.88
Debt to equity
1.13▲
2024 · 0.99
ROE
56.4%▲
2024 · 46.1%
ROA
26.5%▲
2024 · 23.2%
Interest coverage
20.32▲
2024 · 12.62
Debt ≤ 1 year
€73k▲
2024 · €39k
Debt > 1 year
€2k▼
2024 · €9k
Income taxes
€11k▲
2024 · €6k
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 · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€97k€140k▲
Fixed assets21/28€19k€11k▼
Tangible fixed assets22/27€19k€11k▼
Plant, machinery and equipment23€1k€397▼
Furniture and vehicles24€3k€2k▼
Leasing and similar rights25€15k€9k▼
Financial fixed assets28€0-
Current assets29/58€77k€129k▲
Stocks and contracts in progress3€4k€4k=
Stocks30/36€4k€4k=
Amounts receivable within one year40/41€28k€33k▲
Trade receivables40€6k€6k▼
Other amounts receivable41€22k€28k▲
Cash at bank and in hand54/58€45k€90k▲
Deferred charges and accrued income490/1€157€2k▲
Equity and liabilities
Total equity and liabilities10/49€97k€140k▲
Equity10/15€49k€66k▲
Contributions10/11€5k€5k=
Reserves13€44k€61k▲
Distributable reserves133€44k€61k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€48k€74k▲
Amounts payable after more than one year17€9k€2k▼
Financial debts170/4€9k€2k▼
Other amounts payable178/9€0-
Amounts payable within one year42/48€39k€73k▲
Current portion of amounts payable after more than one year42€4k€6k▲
Trade debts44€20k€32k▲
Suppliers440/4€20k€32k▲
Taxes, remuneration and social security45€14k€25k▲
Taxes450/3€12k€22k▲
Remuneration and social security454/9€2k€3k▲
Other amounts payable47/48-€10k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€8k▼
Other operating charges640/8€3k€1k▼
Gross operating margin9900€43k€59k▲
Operating profit (loss)9901€31k€50k▲
Financial income75/76B€1k€1k▼
Recurring financial income75€1k€1k▼
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€29k€48k▲
Income taxes67/77€6k€11k▲
Profit (loss) for the period9904€22k€37k▲
Profit (loss) for the period to be appropriated9905€22k€37k▲
Appropriation of the result
Profit (loss) to be appropriated9906€22k€37k▲
Profit (loss) brought forward from the previous period14P€-860€0▲
Transfer to equity691/2€22k€17k▼
To other reserves6921€22k€17k▼
Profit to be distributed694/7-€20k
Return on contributions (dividend)694-€20k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €8k | €9k | €8k | ▼ 5.4% |
| Other operating charges640/8 | €3k | €3k | €3k | €1k | ▼ 61.0% |
| Gross operating margin9900 | €36k | €14k | €43k | €59k | ▲ 38.4% |
| Operating profit (loss)9901 | €27k | €3k | €31k | €50k | ▲ 62.4% |
| Financial income75/76B | €414 | €138 | €1k | €1k | ▼ 4.5% |
| Recurring financial income75 | €414 | €138 | €1k | €1k | ▼ 4.5% |
| Financial charges65/66B | €1k | €2k | €3k | €3k | ▼ 8.7% |
| Recurring financial charges65 | €1k | €2k | €3k | €3k | ▼ 8.7% |
| Profit (loss) for the period before taxes9903 | €26k | €1k | €29k | €48k | ▲ 66.7% |
| Income taxes67/77 | €4k | €2k | €6k | €11k | ▲ 71.9% |
| Profit (loss) for the period9904 | €22k | €-860 | €22k | €37k | ▲ 65.2% |
| Profit (loss) for the period to be appropriated9905 | €22k | €-860 | €22k | €37k | ▲ 65.2% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €78k | €109k | €97k | €140k | ▲ 44.6% |
| Fixed assets21/28 | €32k | €26k | €19k | €11k | ▼ 43.7% |
| Tangible fixed assets22/27 | €32k | €25k | €19k | €11k | ▼ 43.7% |
| Plant, machinery and equipment23 | - | - | €1k | €397 | ▼ 71.5% |
| Furniture and vehicles24 | €3k | €3k | €3k | €2k | ▼ 30.4% |
| Leasing and similar rights25 | €29k | €22k | €15k | €9k | ▼ 43.5% |
| Financial fixed assets28 | €21 | €38 | €0 | - | - |
| Current assets29/58 | €46k | €83k | €77k | €129k | ▲ 66.7% |
| Stocks and contracts in progress3 | - | €11k | €4k | €4k | = |
| Stocks30/36 | - | €11k | €4k | €4k | = |
| Amounts receivable within one year40/41 | €30k | €39k | €28k | €33k | ▲ 18.5% |
| Trade receivables40 | €19k | €20k | €6k | €6k | ▼ 6.0% |
| Other amounts receivable41 | €11k | €19k | €22k | €28k | ▲ 25.2% |
| Cash at bank and in hand54/58 | €16k | €33k | €45k | €90k | ▲ 100% |
| Deferred charges and accrued income490/1 | €60 | €47 | €157 | €2k | ▲ 895% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €78k | €109k | €97k | €140k | ▲ 44.6% |
| Equity10/15 | €27k | €26k | €49k | €66k | ▲ 35.0% |
| Contributions10/11 | €5k | €5k | €5k | €5k | = |
| Reserves13 | €22k | €22k | €44k | €61k | ▲ 39.0% |
| Distributable reserves133 | €22k | €22k | €44k | €61k | ▲ 39.0% |
| Profit (loss) carried forward14 | - | €-860 | €0 | €0 | - |
| Amounts payable17/49 | €51k | €83k | €48k | €74k | ▲ 54.3% |
| Amounts payable after more than one year17 | €20k | €13k | €9k | €2k | ▼ 82.9% |
| Financial debts170/4 | €20k | €13k | €9k | €2k | ▼ 82.9% |
| Other amounts payable178/9 | €15 | €66 | €0 | - | - |
| Amounts payable within one year42/48 | €31k | €69k | €39k | €73k | ▲ 85.7% |
| Current portion of amounts payable after more than one year42 | €5k | €6k | €4k | €6k | ▲ 34.9% |
| Trade debts44 | €22k | €52k | €20k | €32k | ▲ 57.9% |
| Suppliers440/4 | €22k | €52k | €20k | €32k | ▲ 57.9% |
| Taxes, remuneration and social security45 | €4k | €11k | €14k | €25k | ▲ 71.1% |
| Taxes450/3 | €4k | €11k | €12k | €22k | ▲ 74.5% |
| Remuneration and social security454/9 | - | - | €2k | €3k | ▲ 50.0% |
| Other amounts payable47/48 | - | - | - | €10k | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22k | €-860 | €22k | €37k | ▲ 65.2% |
| + Depreciation and write-downs630 | €6k | €8k | €9k | €8k | ▼ 5.4% |
| Operating cash flow (approximation) | €28k | €7k | €31k | €45k | ▲ 45.1% |
| Investment in fixed assets (approximation) | - | €-2k | €-3k | €0 | ▲ 100% |
| Change in cash | - | €17k | €11k | €45k | ▲ 292% |
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
Next filing, fiscal year 2026, expected by
2026
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €37k ▲65.2%
Operating result €50k, net result €37k, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
31-12
Financial
Weakest financial yearnet €-860
Net result drops to €-860, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Antwerpen · 1 establishment unit since 2021
Ground area
169 m²
Building footprint
44 m²
Volume, LiDAR
340 m³
Parcel 11014H0632/00C008, Flanders · tallest building 11.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
QES
since 20212.324.797.812
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11014H0632/00C008 | Flanders | 169 m² | 1 · 44 m² | 11.6 m · 3 fl. |
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 392 companies in sector 42990 we hold annual accounts for 182. 138 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
Founded26-10-2021
Fiscal year end31-12
Activities, NACEBEL 2025
42990Civil engineering
43211General electrical installation work
43500Specialised construction activities
47529Retail trade
47789Other retail sale of new goods
96210Hairdressing and barber services
Scores and ratios are computed by Checked and are not a credit decision.