A&W CONSTRUCT
ActiveFrom the official registers: KBO 3 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of A&W CONSTRUCT is 2.9% (moderate). The 2024 annual accounts show negative equity (-€303,957) and a net result of -€114,505. Equity has been shrinking by about 53% per year since 2022. Its solvency ranks better than 10% of 19,155 sector peers (NACE 68, financial year 2024). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
KBO- Status
- Active since 10-05-2021 Normal situation
- Activity
- Real estate agency activities NACE 68310and 4 others
- Establishment unit
- 2.317.396.118 2820 Bonheiden, since 10-05-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 30-10-2025
Board and ownership
- Horckmans AnickDirector · since 03-05-2021
- Volckaert WimDirector · since 03-05-2021
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.9%
- Gross margin
- -€45,191
- ▲ 17.9%
- Loss
- €114,505
- ▲ 31.2%
- Equity
- -€303,957
- ▼ 60.4%
- Total assets
- €1.6m
- ▲ 127%
Score breakdownraises riskFigures for financial year 2024 (filed on 06-11-2025)1 financial year not filed after the legal deadline; last filed accounts filed 92 days late; 2 of the last 3 accounts latelowers riskSize: total assets €1.6mSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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, micro). It does better than 10% of them on solvency, 5% on liquidity, 13% on profitability and 10% on growth.
The bankruptcy probability was computed on 31-10-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 62 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 1 November 2026.
Annual accounts 2024 filed on 31-10-2025 PDF all 3 filings
2022 to 2024, 3 financial years
The operating result for 2024 is a loss of €51,998, smaller than the loss of €55,954 in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Comparable companies
These companies have the same main activity as A&W CONSTRUCT: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €1.1m and €2.3m, founded between 2019 and 2023.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| A&W CONSTRUCT Bonheiden | 2021 | €1.6m | -€0.3m | -€0.05m | -€0.1m | - | 2024 |
| Pavicle-Invest Brugge | 2020 | €1.6m | €0.4m | -€0.007m | -€0.01m | - | 2025 |
| VAN DER STAPPEN VASTGOED & ONTWIKKELING Ravels | 2020 | €1.1m | -€0.3m | -€0.009m | -€0.05m | - | 2025 |
| ALVERENIGD Koksijde | 2021 | €2.3m | -€0.4m | -€0.3m | -€0.4m | 0 | 2025 |
| Waterfront Development Company Watermaal-Bosvoorde | 2020 | €1.2m | €0.8m | -€0.04m | -€0.04m | - | 2025 |
| Sannen Investment Company De Haan | 2019 | €1.4m | -€0.08m | -€0.01m | -€0.07m | - | 2025 |
| Yucca Real Estate Zedelgem | 2023 | €2.2m | -€0.2m | -€0.006m | -€0.09m | - | 2025 |
They were chosen from the 7,156 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 1,167 companies had the same profile as A&W CONSTRUCT has now. Two years later, 2.0% had gone bankrupt and 94.9% were still going.
- Small
- 5 to 10 years old
- negative equity
- a small loss
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of A&W CONSTRUCT itself is higher: 2.9% within 12 months. It rests on far more data about A&W CONSTRUCT than the profile alone.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,167 companies, not a prediction for A&W CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €209 | €5,254 | ▲ 25× |
| Other operating charges640/8 | €627 | €696 | €1,554 | ▲ 123% |
| Gross operating margin9900 | -€102,047 | -€55,050 | -€45,191 | ▲ 17.9% |
| Operating profit (loss)9901 | -€102,674 | -€55,954 | -€51,998 | ▲ 7.1% |
| Financial income75/76B | €3,040 | €3,211 | €1,501 | ▼ 53.2% |
| Recurring financial income75 | €3,040 | €3,211 | €1,501 | ▼ 53.2% |
| Financial charges65/66B | €5,542 | €34,532 | €64,008 | ▲ 85.4% |
| Recurring financial charges65 | €5,542 | €34,532 | €64,008 | ▲ 85.4% |
| Profit (loss) for the period before taxes9903 | -€105,176 | -€87,276 | -€114,505 | ▼ 31.2% |
| Profit (loss) for the period9904 | -€105,176 | -€87,276 | -€114,505 | ▼ 31.2% |
| Profit (loss) for the period to be appropriated9905 | -€105,176 | -€87,276 | -€114,505 | ▼ 31.2% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €0.4m | €0.7m | €1.6m | ▲ 127% |
| Fixed assets21/28 | €0.001m | €0.002m | €0.05m | ▲ 24× |
| Tangible fixed assets22/27 | - | €0.001m | €0.05m | ▲ 50× |
| Plant, machinery and equipment23 | - | - | €0.02m | - |
| Furniture and vehicles24 | - | €0.001m | €0.03m | ▲ 34× |
| Financial fixed assets28 | €0.001m | €0.001m | €0.002m | ▲ 109% |
| Current assets29/58 | €0.4m | €0.7m | €1.6m | ▲ 120% |
| Stocks and contracts in progress3 | €0.4m | €0.6m | €0.6m | ▲ 8.9% |
| Stocks30/36 | €0.4m | €0.6m | €0.6m | ▲ 5.0% |
| Contracts in progress37 | - | - | €0.02m | - |
| Amounts receivable within one year40/41 | €0.06m | €0.1m | €0.9m | ▲ 578% |
| Trade receivables40 | €0.06m | €0.1m | €0.4m | ▲ 209% |
| Other amounts receivable41 | €0.005m | €0.02m | €0.6m | ▲ 28× |
| Cash at bank and in hand54/58 | €0.006m | €0.007m | €0.02m | ▲ 221% |
| Deferred charges and accrued income490/1 | €0.001m | €416 | €0.001m | ▲ 83.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €0.4m | €0.7m | €1.6m | ▲ 127% |
| Equity10/15 | -€0.1m | -€0.2m | -€0.3m | ▼ 60.4% |
| Contributions10/11 | €0.003m | €0.003m | €0.003m | = |
| Profit (loss) carried forward14 | -€0.1m | -€0.2m | -€0.3m | ▼ 59.5% |
| Amounts payable17/49 | €0.5m | €0.9m | €2.0m | ▲ 113% |
| Amounts payable after more than one year17 | €0.3m | €0.4m | €0.4m | = |
| Financial debts170/4 | €0.3m | €0.4m | €0.4m | = |
| Amounts payable within one year42/48 | €0.2m | €0.5m | €1.6m | ▲ 188% |
| Financial debts43 | - | - | €1.3m | - |
| Credit institutions430/8 | - | - | €1.3m | - |
| Trade debts44 | €0.06m | €0.06m | €0.06m | ▼ 0.9% |
| Suppliers440/4 | €0.06m | €0.06m | €0.06m | ▼ 0.9% |
| Taxes, remuneration and social security45 | €0.001m | €0.04m | €0.01m | ▼ 59.6% |
| Taxes450/3 | €0.001m | €0.04m | €0.005m | ▼ 86.1% |
| Remuneration and social security454/9 | - | - | €0.01m | - |
| Other amounts payable47/48 | €0.2m | €0.5m | €0.3m | ▼ 43.2% |
| Accrued charges and deferred income492/3 | €0.001m | €0.002m | €0.005m | ▲ 126% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€105,176 | -€87,276 | -€114,505 | ▼ 31.2% |
| + Depreciation and write-downs630 | - | €209 | €5,254 | ▲ 25× |
| Operating cash flow (approximation) | -€105,176 | -€87,067 | -€109,251 | ▼ 25.5% |
| Investment in fixed assets (approximation) | - | -€1,854 | -€54,019 | ▼ 2,814% |
| Change in cash | - | €899 | €16,293 | ▲ 18× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Horckmans Anick |
|
| Volckaert Wim |
|
| VOLCKAERT WIM |
|
Network & group
Connections & network
1 connected companyThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
06-05
Gazette deed
Resignation: Volckaert Wim BV (director)Permanent representative: Volckaert Wim · Appointment: Volckaert Wim (director)4 points ▸
- General meeting, 01-01-2026
- Director resignation, Volckaert Wim BV (director)
- Permanent representative, Volckaert Wim
- Director appointment, Volckaert Wim (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12031B0691/00C000 | Flanders | 2,754 m² | 1 · 274 m² | 11.0 m · 2 |