A D CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of A D CONSTRUCT is 2.1% (moderate). The 2025 annual accounts show equity of €23k and a net result of €9k. Equity is shrinking by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 57% of 27965 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability94▲+92
Solvency78▲+19
Growth32=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 1.76 against 1.36 in 2024; short-term debt: 47% and cash: 55.3% of total assets), and 47% 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €23k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 11-12-2025, 51 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
51 d early
2024
15 d early
2023
41 d early
2022
54 d early
2021
4 d early
2020
40 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€23k▲ 61.7%
2024 · €14k
2020: €24k
2021: €26k▲ +9.6% vs 2020highest in 6 years
2022: €25k▼ -5.7% vs 2021
2023: €20k▼ -19.1% vs 2022
2024: €14k▼ -28.3% vs 2023lowest in 6 years
2025: €23k▲ +61.7% vs 2024
2020 → 2025
Total assets
€44k▲ 4.4%
2024 · €42k
2020: €34klowest in 6 years
2021: €41k▲ +21.1% vs 2020
2022: €40k▼ -2.3% vs 2021
2023: €36k▼ -12.1% vs 2022
2024: €42k▲ +18.8% vs 2023
2025: €44k▲ +4.4% vs 2024highest in 6 years
2020 → 2025
Net result
€9k
2024 · €-6k
2020: €19khighest in 6 years
2021: €2k▼ -87.9% vs 2020
2022: €-2k▼ -165% vs 2021
2023: €-5k▼ -218% vs 2022
2024: €-6k▼ -19.6% vs 2023lowest in 6 years
2025: €9k▲ +256% vs 2024
2020 → 2025
Working capital
€16k▲ 56.4%
2024 · €10k
2020: €20khighest in 6 years
2021: €14k▼ -32.4% vs 2020
2022: €14k▲ +3.0% vs 2021
2023: €13k▼ -9.1% vs 2022
2024: €10k▼ -22.0% vs 2023lowest in 6 years
2025: €16k▲ +56.4% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€26k-€25k▼ 5.7%€20k▼ 19.1%€14k▼ 28.3%€23k▲ 61.7%
2021: €26khighest in 5 years
2022: €25k▼ -5.7% vs 2021
2023: €20k▼ -19.1% vs 2022
2024: €14k▼ -28.3% vs 2023lowest in 5 years
2025: €23k▲ +61.7% vs 2024
Operating result€3k-€-975€-4k▼ 274%€-5k▼ 49.1%€10k
2021: €3k
2022: €-975▼ -130% vs 2021
2023: €-4k▼ -274% vs 2022
2024: €-5k▼ -49.1% vs 2023lowest in 5 years
2025: €10k▲ +281% vs 2024highest in 5 years
Net result€2k-€-2k€-5k▼ 218%€-6k▼ 19.6%€9k
2021: €2k
2022: €-2k▼ -165% vs 2021
2023: €-5k▼ -218% vs 2022
2024: €-6k▼ -19.6% vs 2023lowest in 5 years
2025: €9k▲ +256% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €10k after a loss of €5k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €44k
Fixed assets
€8k ▲ 73.7%
Current assets
€36k ▼ 3.7%
Equity and liabilities €44k
Equity
€23k ▲ 61.7%
Debt
€21k ▼ 25.4%
Debt's share of the balance-sheet total falls from 65.8% to 47.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€15k▲
2024 · €-2k
Cash flow
€14k▲
2024 · €-2k
Current ratio
1.76▲
2024 · 1.36
Quick ratio
1.74▲
2024 · 1.34
Debt to equity
0.89▼
2024 · 1.92
ROE
38.1%▲
2024 · -39.5%
ROA
20.2%▲
2024 · -13.5%
Interest coverage
107.05▲
2024 · -6.30
Debt ≤ 1 year
€21k▼
2024 · €28k
Income taxes
€907
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 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€42k€44k▲
Fixed assets21/28€4k€8k▲
Tangible fixed assets22/27€4k€8k▲
Plant, machinery and equipment23€2k€2k▲
Furniture and vehicles24€3k€6k▲
Current assets29/58€38k€36k▼
Stocks and contracts in progress3€635€252▼
Stocks30/36€635€252▼
Amounts receivable within one year40/41€20k€12k▼
Trade receivables40€20k€11k▼
Other amounts receivable41-€578
Cash at bank and in hand54/58€17k€24k▲
Deferred charges and accrued income490/1€151€95▼
Equity and liabilities
Total equity and liabilities10/49€42k€44k▲
Equity10/15€14k€23k▲
Contributions10/11€5k€5k=
Reserves13€9k€18k▲
Distributable reserves133€9k€18k▲
Amounts payable17/49€28k€21k▼
Amounts payable within one year42/48€28k€21k▼
Trade debts44€16k€7k▼
Suppliers440/4€16k€7k▼
Taxes, remuneration and social security45€5k€3k▼
Taxes450/3€2k€907▼
Remuneration and social security454/9€2k€2k▼
Other amounts payable47/48€7k€11k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€5k▲
Other operating charges640/8€199€162▼
Gross operating margin9900€-2k€15k▲
Operating profit (loss)9901€-5k€10k▲
Financial income75/76B€54€100▲
Recurring financial income75€54€100▲
Financial charges65/66B€312€137▼
Recurring financial charges65€312€137▼
Profit (loss) for the period before taxes9903€-6k€10k▲
Income taxes67/77-€907
Profit (loss) for the period9904€-6k€9k▲
Profit (loss) for the period to be appropriated9905€-6k€9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-6k€9k▲
Transfer from equity791/2€6k-
Transfer to equity691/2-€9k
To other reserves6921-€9k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €3k | €3k | €3k | €5k | ▲ 39.0% |
| Other operating charges640/8 | - | €401 | €410 | €199 | €162 | ▼ 18.5% |
| Gross operating margin9900 | €6k | €3k | €244 | €-2k | €15k | ▲ 940% |
| Operating profit (loss)9901 | €3k | €-975 | €-4k | €-5k | €10k | ▲ 281% |
| Financial income75/76B | - | €32 | €12 | €54 | €100 | ▲ 85.4% |
| Recurring financial income75 | €58 | €32 | €12 | €54 | €100 | ▲ 85.4% |
| Financial charges65/66B | - | €558 | €1k | €312 | €137 | ▼ 56.1% |
| Recurring financial charges65 | €812 | €558 | €1k | €312 | €137 | ▼ 56.1% |
| Profit (loss) for the period before taxes9903 | €3k | €-2k | €-5k | €-6k | €10k | ▲ 272% |
| Income taxes67/77 | €199 | - | - | - | €907 | - |
| Profit (loss) for the period9904 | €2k | €-2k | €-5k | €-6k | €9k | ▲ 256% |
| Profit (loss) for the period to be appropriated9905 | €2k | €-2k | €-5k | €-6k | €9k | ▲ 256% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €41k | €40k | €36k | €42k | €44k | ▲ 4.4% |
| Fixed assets21/28 | €13k | €11k | €7k | €4k | €8k | ▲ 73.7% |
| Tangible fixed assets22/27 | €13k | €11k | €7k | €4k | €8k | ▲ 73.7% |
| Plant, machinery and equipment23 | - | €4k | €2k | €2k | €2k | ▲ 20.5% |
| Furniture and vehicles24 | - | €7k | €5k | €3k | €6k | ▲ 107% |
| Current assets29/58 | €29k | €30k | €28k | €38k | €36k | ▼ 3.7% |
| Stocks and contracts in progress3 | €4k | €9k | €962 | €635 | €252 | ▼ 60.4% |
| Stocks30/36 | - | €6k | €962 | €635 | €252 | ▼ 60.4% |
| Contracts in progress37 | - | €3k | - | - | - | - |
| Amounts receivable within one year40/41 | €11k | €9k | €25k | €20k | €12k | ▼ 41.0% |
| Trade receivables40 | - | €9k | €24k | €20k | €11k | ▼ 43.9% |
| Other amounts receivable41 | - | - | €890 | - | €578 | - |
| Cash at bank and in hand54/58 | €14k | €11k | €3k | €17k | €24k | ▲ 41.4% |
| Deferred charges and accrued income490/1 | - | €133 | €15 | €151 | €95 | ▼ 37.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €41k | €40k | €36k | €42k | €44k | ▲ 4.4% |
| Equity10/15 | €26k | €25k | €20k | €14k | €23k | ▲ 61.7% |
| Contributions10/11 | - | €5k | €5k | €5k | €5k | = |
| Reserves13 | €21k | €20k | €15k | €9k | €18k | ▲ 94.3% |
| Distributable reserves133 | - | €20k | €15k | €9k | €18k | ▲ 94.3% |
| Amounts payable17/49 | €15k | €16k | €15k | €28k | €21k | ▼ 25.4% |
| Amounts payable within one year42/48 | €15k | €16k | €15k | €28k | €21k | ▼ 25.4% |
| Trade debts44 | €6k | €5k | €4k | €16k | €7k | ▼ 58.2% |
| Suppliers440/4 | - | €5k | €4k | €16k | €7k | ▼ 58.2% |
| Taxes, remuneration and social security45 | - | €6k | - | €5k | €3k | ▼ 36.7% |
| Taxes450/3 | - | €4k | - | €2k | €907 | ▼ 62.3% |
| Remuneration and social security454/9 | - | €2k | - | €2k | €2k | ▼ 7.5% |
| Other amounts payable47/48 | - | €4k | €11k | €7k | €11k | ▲ 55.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €-2k | €-5k | €-6k | €9k | ▲ 256% |
| + Depreciation and write-downs630 | €3k | €3k | €3k | €3k | €5k | ▲ 39.0% |
| Operating cash flow (approximation) | €5k | €2k | €-1k | €-2k | €14k | ▲ 718% |
| Investment in fixed assets (approximation) | - | €-1k | €0 | €-598 | €-8k | ▼ 1,250% |
| Change in cash | - | €-2k | €-9k | €15k | €7k | ▼ 51.4% |
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
2025
11-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Back to profitnet €9k
Net result €9k after 3 loss-making years.
16-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
08-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Wortegem-Petegem · 1 establishment unit since 2019
Ground area
294 m²
Building footprint
131 m²
Volume, LiDAR
743 m³
Parcel 45008A0252/00A003, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
A D Construct
since 20192.294.045.644
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45008A0252/00A003 | Flanders | 294 m² | 1 · 131 m² | 9.7 m · 2 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.
Similar companies · same sector, comparable size
WPM Wood Project Management
BE 0735.595.540
Chaudfontaine · Eq €23,328
BQ CONSTRUCT
BE 1006.486.945
Charleroi · Eq €23,385
P. Patrick
BE 0455.491.709
Ninove · Eq €23,312
LVL Totaalprojecten
BE 1008.625.004
Kortrijk · Eq €23,398
TOITURES DE KEYSER-S
BE 0773.998.632
Aywaille · Eq €23,303
Of 11,137 companies in sector 43910 we hold annual accounts for 5,490. 4,079 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
Founded30-09-2019
Fiscal year end30-06
Activities, NACEBEL 2025
43910Bricklaying and masonry work
43110Demolition
43120Site preparation
Scores and ratios are computed by Checked and are not a credit decision.