3 KEYS CONSTRUCT
ActiveSummary
3 KEYS CONSTRUCT has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€375,640) and a net result of -€301,386. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 11,166 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
- Equity
- -€375,640
- Loss
- -€301,386
Why 52raises riskCapped at 59: negative equityNegative equity -€375,640Loss of €301,386, the second in a row (financial year 2025)lowers riskSize: total assets €4.0mSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, small): better than 6% on solvency, 7% on liquidity, 12% on profitability and 1% on growth.
The bankruptcy probability was computed on 23-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 2 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Resignations: BEMISAL (managing director) and TPJE…Appointment: IMRODER (sole director) ·…
- Resignation: Vossekot NV (director)Permanent representatives: Philippe Dubaere, Isabelle…
- Annual accounts filedfinancial year 2025 · abbreviated…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result stays negative: a loss of €277,510 in 2025 against €62,789 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,167 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94.9% are still going.
- Small
- 5 to 10 years old
- negative equity
- a small loss
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,167 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | €654 | €729 | €794 | €923 | ▲ 16.3% |
| Gross operating margin9900 | -€11,309 | -€12,333 | -€5,716 | -€10,194 | -€61,995 | -€276,587 | ▼ 346% |
| Operating profit (loss)9901 | -€11,857 | -€12,863 | -€6,370 | -€10,923 | -€62,789 | -€277,510 | ▼ 342% |
| Financial income75/76B | - | - | - | - | €8,948 | €82,723 | ▲ 825% |
| Recurring financial income75 | - | - | - | - | €8,948 | €82,723 | ▲ 825% |
| Financial charges65/66B | - | - | €6,908 | €11,434 | €18,961 | €106,598 | ▲ 462% |
| Recurring financial charges65 | €1,059 | €3,038 | €6,908 | €11,434 | €18,961 | €106,598 | ▲ 462% |
| Profit (loss) for the period before taxes9903 | -€12,916 | -€15,901 | -€13,278 | -€22,357 | -€72,803 | -€301,386 | ▼ 314% |
| Profit (loss) for the period9904 | -€12,916 | -€15,901 | -€13,278 | -€22,357 | -€72,803 | -€301,386 | ▼ 314% |
| Profit (loss) for the period to be appropriated9905 | -€12,916 | -€15,901 | -€13,278 | -€22,357 | -€72,803 | -€301,386 | ▼ 314% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.2m | €0.3m | €0.5m | €0.5m | €1.5m | €4.0m | ▲ 159% |
| Current assets29/58 | €0.2m | €0.3m | €0.5m | €0.5m | €1.5m | €4.0m | ▲ 159% |
| Stocks and contracts in progress3 | €0.1m | €0.2m | €0.3m | €0.4m | €1.4m | €3.7m | ▲ 159% |
| Contracts in progress37 | - | - | €0.3m | €0.4m | €1.4m | €3.7m | ▲ 159% |
| Amounts receivable within one year40/41 | €0.04m | €0.005m | €0.01m | €0.009m | €0.007m | €0.05m | ▲ 629% |
| Trade receivables40 | - | - | €0.001m | €0.001m | €0 | €0.05m | - |
| Other amounts receivable41 | - | - | €0.01m | €0.007m | €0.007m | €0.001m | ▼ 92.4% |
| Cash at bank and in hand54/58 | €0.02m | €0.05m | €0.1m | €0.07m | €0.06m | €0.1m | ▲ 117% |
| Deferred charges and accrued income490/1 | - | - | €124 | €217 | €0.04m | €0.08m | ▲ 124% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.2m | €0.3m | €0.5m | €0.5m | €1.5m | €4.0m | ▲ 159% |
| Equity10/15 | €0.05m | €0.03m | €0.02m | -€0.001m | -€0.07m | -€0.4m | ▼ 406% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | -€0.01m | -€0.03m | -€0.04m | -€0.06m | -€0.1m | -€0.4m | ▼ 220% |
| Amounts payable17/49 | €0.1m | €0.2m | €0.4m | €0.5m | €1.6m | €4.4m | ▲ 170% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.4m | €0.5m | €1.6m | €4.3m | ▲ 167% |
| Financial debts43 | - | - | - | - | - | €3.2m | - |
| Credit institutions430/8 | - | - | - | - | - | €3.2m | - |
| Trade debts44 | €0.02m | €0.02m | €0.003m | €0.05m | €0.4m | €0.5m | ▲ 34.3% |
| Suppliers440/4 | - | - | €0.003m | €0.05m | €0.4m | €0.5m | ▲ 34.3% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €0.03m | - |
| Taxes450/3 | - | - | - | - | - | €0.03m | - |
| Other amounts payable47/48 | - | - | €0.4m | €0.4m | €1.2m | €0.6m | ▼ 54.4% |
| Accrued charges and deferred income492/3 | - | - | €0.001m | €0.001m | €43 | €0.06m | ▲ 130,154% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,916 | -€15,901 | -€13,278 | -€22,357 | -€72,803 | -€301,386 | ▼ 314% |
| Operating cash flow (approximation) | -€12,916 | -€15,901 | -€13,278 | -€22,357 | -€72,803 | -€301,386 | ▼ 314% |
| Change in cash | - | €29,274 | €78,151 | -€61,575 | -€9,417 | €67,975 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 28-01-2026 | 2026-00019953 |
| 30-06-2024 | abbreviated format | 29-01-2025 | 2025-00017983 |
| 30-06-2023 | abbreviated format | 25-01-2024 | 2024-00011972 |
| 30-06-2022 | abbreviated format | 30-01-2023 | 2023-00012667 |
| 30-06-2021 | abbreviated format | 31-01-2022 | 2022-04200449 |
| 30-06-2020 | abbreviated format | 29-01-2021 | 2021-03900306 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Permanent representatives 2
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| BEMISAL |
|
| TPJE |
|
| IMRODER |
|
| VOSSEKOT |
|
Owners and capital
Owners
3 ownersChain of control
- Bemisal
- 3 KEYS CONSTRUCT
Highest known parent: Bemisal. The sources do not say who stands above it.
Owners 3
- Bemisalparent100%
-
33.33%
- Sourceaccounts TPJE 202533.33%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- BEMISAL (BE 0421.294.754) all shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 01-10-2026 Capital stated in 2 acts · €63,000 · 90,000 shares
Group and network
Connections & network
2 connected companiesThe connected companies are in the list below.
History
Acts, filings and financial milestones
01-10
Gazette deed
Resignations: BEMISAL (managing director) and TPJE (managing director)Appointment: IMRODER (sole director) · Permanent representative: LEMAHIEU Isabelle · Kind of shares14 facts ▸
- General meeting, 01-09-2026 (2 times)
- Kind of shares, “afschaffen, alle aandelen zijn gelijk” (deed in Dutch)
- Capital, €63,000
- Amendment of the articles (2 times)
- Director resignation, BEMISAL (managing director)
- Director resignation, TPJE (managing director)
- Director appointment, IMRODER (sole director)
- Permanent representative, LEMAHIEU Isabelle
- Declaration, “acceptatie en niet-verbod, niet getroffen te zijn door een wettelijke of reglementaire maatregel die zich hiertegen verzet” (deed in Dutch)
- Shareholding, 19-06-2026
- Power of attorney (2 times)
- Power of attorney, Timon Sohier
- +2 further facts in this act
28-01
Gazette deed
Resignation: Vossekot NV (director)Permanent representatives: Philippe Dubaere, Isabelle Lemahieu and Michel Lemahieu · Power of attorney8 facts ▸
- General meeting, 13-01-2026
- Director resignation, Vossekot NV (director)
- Permanent representative, Philippe Dubaere
- Board composition, Bemisal BV (director)
- Permanent representative, Isabelle Lemahieu
- Board composition, TPJE NV (director)
- Permanent representative, Michel Lemahieu
- Power of attorney, Vossekot NV
16-01
Gazette deed
Reappointments: BEMISAL, TPJE and VOSSEKOTPermanent representatives: LEMAHIEU Isabelle, LEMAHIEU Michel and DUBAERE Philippe · Amendment of the articles · Capital14 facts ▸
- General meeting, 13-12-2023
- Other provision, “vaststelling dwingende bepalingen WVV van toepassing, NV” (deed in Dutch)
- Amendment of the articles
- Capital, €63,000
- Registered office clause, “Kortrijksesteenweg 154,9830 Sint-Martens-Latem, DERDE BESLUIT” (deed in Dutch)
- Director reappointment, BEMISAL (director)
- Director reappointment, TPJE (director)
- Director reappointment, VOSSEKOT (director)
- Permanent representative, LEMAHIEU Isabelle
- Permanent representative, LEMAHIEU Michel
- Permanent representative, DUBAERE Philippe
- Power of attorney
- +2 further facts in this act
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 3 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 23 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0725.453.397
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44064B0044/00C000 | Flanders | 1,314 m² | 1 · 282 m² | 12.4 m · 3 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- 3 KEYS CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- The sole director
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursvorm, Artikel 13” (deed in Dutch)“Enige bestuurder, bestuursorgaan” (deed in Dutch)“Geheel van de bestuursbevoegdheden, bevoegdheden” (deed in Dutch)“Alleen of gezamenlijk, dagelijks bestuur” (deed in Dutch)“Vergoeding, Artikel 18” (deed in Dutch)“Hoogstens zes jaar, samenstelling raad van bestuur” (deed in Dutch)“Voorzitterschap van de raad van bestuur, De raad kan ook een ondervoorzitter benoemen” (deed in Dutch)“Bijeenroeping van de raad van bestuur, De raad van bestuur wordt bijeengeroepen door de voorzitter of door twee bestuurders” (deed in Dutch)“Elke bestuurder kan aan één van zijn collega’s volmacht verlenen om hem te vertegenwoordigen op een bepaalde raad van bestuur en om er in…” (deed in Dutch)“Notulen van de raad van bestuur, Alle afschriften en uittreksels van de notulen worden ondertekend door de voorzitter of door ten minste…” (deed in Dutch)“De raad van bestuur bepaalt of zij alleen, dan wel gezamenlijk optreden, Dagelijks bestuur” (deed in Dutch)“Vergoeding van de bestuurders, Het mandaat van bestuurder wordt niet bezoldigd behoudens andersluidende beslissing van de algemene…” (deed in Dutch)3 more provisions on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “A-aandeelhouder, B-aandeelhouder” (deed in Dutch)deed of 16-01-2024
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deeddeed of 01-10-2026