123 Construct
ActiveThe computed 12-month bankruptcy probability of 123 Construct is 2.1% (moderate). The 2024 annual accounts show equity of €203k and a net result of €78k. Equity is growing by ~52.7% per year across the filed fiscal years. Its solvency ranks better than 19% of 2096 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability75▼-7
Solvency37▼-12
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.56 in 2023; short-term debt: 59.3% and cash: 2.9% of total assets), and 87.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 2096 sector peers (2024).
NBB · sector comparisonPosition among 2096 sector peers
Solvency
better than 19%
← weakest
strongest →
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 25-07-2025, 6 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
6 d early
2023
6 d early
2022
4 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€203k▲ 61.7%
2023 · €126k
2022: €71k
2023: €126k
2022 → 2024
Total assets
€1.67M▲ 213%
2023 · €533k
2022: €98k
2023: €533k
2022 → 2024
Net result
€78k▲ 41.5%
2023 · €55k
2022: €59k
2023: €55k
2022 → 2024
Working capital
€224k▲ 39.4%
2023 · €161k
2022: €10k
2023: €161k
2022 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€71k-€126k▲ 77.4%€203k▲ 61.7%
Operating result€65k-€104k▲ 60.9%€138k▲ 32.0%
Net result€59k-€55k▼ 6.9%€78k▲ 41.5%
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 risen two years in a row; 2024 is 32% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.67M
Fixed assets
€454k▲ 431%
Current assets
€1.21M▲ 171%
Equity and liabilities €1.67M
Equity
€203k▲ 61.7%
Debt
€1.46M▲ 259%
The debt ratio rises from 76.4% to 87.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€207k▲
2023 · €119k
Cash flow
€147k▲
2023 · €70k
Solvency
12.2%▼
2023 · 23.6%
Current ratio
1.23▼
2023 · 1.56
Quick ratio
0.85▼
2023 · 1.56
Debt / equity
7.20▲
2023 · 3.24
ROE
38.2%▼
2023 · 43.6%
ROA
4.7%▼
2023 · 10.3%
Interest coverage
184.38▲
2023 · 66.00
Debt
€1.46M▲
2023 · €407k
Debt ≤ 1 year
€989k▲
2023 · €287k
Income taxes
€59k▲
2023 · €49k
Staff costs
€402k▲
2023 · €49k
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€533k€1.67M▲
Fixed assets21/28€86k€454k▲
Tangible fixed assets22/27€72k€419k▲
Plant, machinery and equipment23€12k€280k▲
Furniture and vehicles24€57k€136k▲
Other tangible fixed assets26€3k€2k▼
Financial fixed assets28€14k€35k▲
Current assets29/58€448k€1.21M▲
Stocks and contracts in progress3-€373k
Stocks30/36-€221k
Contracts in progress37-€152k
Amounts receivable within one year40/41€299k€782k▲
Trade receivables40€261k€742k▲
Other amounts receivable41€37k€39k▲
Cash at bank and in hand54/58€149k€48k▼
Deferred charges and accrued income490/1-€10k
Equity and liabilities
Total equity and liabilities10/49€533k€1.67M▲
Equity10/15€126k€203k▲
Contributions10/11€12k€12k=
Reserves13€114k€191k▲
Non-distributable reserves130/1€114k-
Other1319€114k-
Distributable reserves133-€191k
Amounts payable17/49€407k€1.46M▲
Amounts payable within one year42/48€287k€989k▲
Trade debts44€285k€950k▲
Suppliers440/4€285k€950k▲
Taxes, remuneration and social security45€261€33k▲
Taxes450/3-€18k
Remuneration and social security454/9€261€15k▲
Other amounts payable47/48€1k€5k▲
Accrued charges and deferred income492/3€120k€474k▲
Income statement
Code20232024
Remuneration, social security and pensions62€49k€402k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€70k▲
Other operating charges640/8€5k€12k▲
Gross operating margin9900€173k€621k▲
Operating profit (loss)9901€104k€138k▲
Financial income75/76B€1k€28▼
Recurring financial income75€1k€28▼
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€103k€137k▲
Income taxes67/77€49k€59k▲
Profit (loss) for the period9904€55k€78k▲
Profit (loss) for the period to be appropriated9905€55k€78k▲
Appropriation of the result
Profit (loss) to be appropriated9906€55k€78k▲
Transfer to equity691/2€55k€78k▲
To other reserves6921€55k€78k▲
Social balance
Average headcount (FTE)9087-6.7
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
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2022net €78k ▲41.5%
Operating result €138k, net result €78k, both a record.
31-12
Financial
Equity above €200kEq €203k ▲61.7%
3 profitable years in a row build equity to €203k.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €55k ▼6.9%
Net result drops to €55k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100kEq €126k ▲77.4%
2 profitable years in a row build equity to €126k.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Gent · 1 establishment unit since 2021
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.
Vliegtuiglaan 5A9000 GentGround area
3.2 ha
Building footprint
1.5 ha
Volume, LiDAR
126,051 m³
Parcel 44812P0639/00P018, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
123 CONSTRUCT
since 20212.314.990.221
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44812P0639/00P018 | Flanders | 3.2 ha | 1 · 1.5 ha | 10.6 m · 3 fl. |
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
DIRO - BOUW
BE 0461.916.572
Ardooie · Eq €203k
SPD CONSTRUCT
BE 0476.005.724
Berlaar · Eq €203k
MINIM CONSTRUCTION
BE 0800.830.119
Chaumont-Gistoux · Eq €203k
STK X PRO
BE 0757.703.028
Dilbeek · Eq €203k
Imadu
BE 0783.932.521
Deinze · Eq €203k
Of 29,801 companies in sector 41001 we hold annual accounts for 16,045. 12,042 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-02-2021
Fiscal year end31-12
Abbreviation NL
123
Activities, NACEBEL
41001General construction of residential buildings
43221Plumbing work
41003General construction of other non-residential buildings
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.