Equity
Equity fell by 57% in 1 year.
Equity fell by 57% in 1 year.
From profit to loss in 2025, after a profit of €59,102 in 2024.
Of this, €101,277 falls due within a year.
The last five annual accounts were filed 0 to 41 days before the end of the period.
Lower net result than 95% of companies in construction of buildings. Sector median €8,556 · 9,461 companies.
In July 2024, 1,133 companies had the same profile as ACS Construct has now. Each dot stands for 3 companies, two years later.
Another 0.6% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 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 1,133 companies, not a prediction for ACS 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| ACS Construct Brussels | €299,089 | -€34,232 | 15.3% | - |
| IMMO NAROM Koekelberg | €305,639 | -€6,359 | -25.7% | - |
| LORIMMO Ham-sur-Heure-Nalinnes | €282,599 | -€1,927 | 23.8% | - |
| SAM@HOME&RENOVATION Antwerp | €323,583 | -€73,927 | 9.5% | - |
| A.J CONSTRUCT INTERNATIONAL Halle | €312,235 | -€20,836 | 18.3% | - |
| Aldo Construct Geel | €273,197 | -€20,459 | 6.6% | - |
| EWOOD Nazareth-De Pinte | €276,093 | -€398 | 27.5% | 0 |
These companies have the same main activity as ACS Construct: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €273,000 and €324,000, founded between 2020 and 2021.
ACS Construct files the micro format. That format states no turnover. The gross margin fell from €11,877 in 2021 to -€34,232 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Higher than 23% of 9,471 companies in 2025.
Higher than 67% of 9,219 companies in 2025.
Higher than 9% of 9,291 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
299,089 | 309,189 | 131,069 | 95,715 | 47,789 | |
21/28 |
52,473 | 55,342 | 52,886 | 15,487 | 14,850 | |
22/27 |
51,473 | 54,342 | 51,886 | 14,487 | 13,850 | |
23 |
445 | 782 | 1,119 | 1,456 | - | |
24 |
51,029 | 53,560 | 50,768 | 13,031 | 13,850 | |
28 |
1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |
29/58 |
246,616 | 253,847 | 78,183 | 80,228 | 32,939 | |
29 |
161,236 | - | - | - | - | |
291 |
161,236 | - | - | - | - | |
3 |
12,659 | - | 0 | 7,500 | - | |
30/36 |
12,659 | - | 0 | 7,500 | - | |
40/41 |
68,997 | 235,665 | 56,118 | 70,273 | 29,977 | |
40 |
60,983 | 90,312 | 48,499 | 67,314 | 18,723 | |
41 |
8,014 | 145,352 | 7,619 | 2,959 | 11,254 | |
54/58 |
885 | 14,585 | 17,823 | 1,874 | 1,245 | |
490/1 |
2,839 | 3,597 | 4,242 | 581 | 1,717 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
299,089 | 309,189 | 131,069 | 95,715 | 47,789 | |
10/15 |
45,803 | 105,369 | 46,267 | 30,460 | 17,121 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
14 |
35,803 | 95,369 | 36,267 | 20,460 | 7,121 | |
17/49 |
253,286 | 203,820 | 84,802 | 65,255 | 30,668 | |
17 |
152,009 | 113,277 | 30,380 | - | - | |
170/4 |
22,809 | 23,177 | 30,380 | - | - | |
178/9 |
129,200 | 90,100 | - | - | - | |
42/48 |
101,277 | 90,543 | 54,422 | 65,255 | 30,668 | |
42 |
14,896 | 7,203 | 6,745 | - | - | |
44 |
44,322 | 16,720 | 21,796 | 35,801 | 13,423 | |
440/4 |
44,322 | 16,720 | 21,796 | 35,801 | 13,423 | |
45 |
25,991 | 59,053 | 14,920 | 12,919 | 13,091 | |
450/3 |
2,743 | 38,640 | 4,897 | 5,719 | 1,891 | |
454/9 |
23,248 | 20,414 | 10,023 | 7,200 | 11,200 | |
47/48 |
16,067 | 7,567 | 10,960 | 16,534 | 4,153 | |
| Income statement | ||||||
9900 |
-34,232 | 98,447 | 29,160 | 21,846 | 11,877 | |
630 |
19,491 | 15,288 | 6,605 | 3,857 | 3,027 | |
640/8 |
1,463 | 1,566 | 549 | 656 | 817 | |
9901 |
-55,186 | 81,593 | 22,006 | 17,333 | 8,033 | |
75/76B |
60 | 1 | 135 | 0 | 966 | |
75 |
60 | 1 | 135 | 0 | 966 | |
65/66B |
3,218 | 3,193 | 1,844 | 491 | 71 | |
65 |
3,218 | 3,193 | 1,844 | 491 | 71 | |
9903 |
-58,344 | 78,401 | 20,297 | 16,843 | 8,929 | |
67/77 |
1,222 | 19,299 | 4,489 | 3,504 | 1,807 | |
9904 |
-59,566 | 59,102 | 15,808 | 13,338 | 7,121 | |
9905 |
-59,566 | 59,102 | 15,808 | 13,338 | 7,121 | |
| Appropriation of the result | ||||||
9906 |
35,803 | 95,369 | 36,267 | 20,460 | 7,121 | |
14P |
95,369 | 36,267 | 20,460 | 7,121 | - | |
| Document | ||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00366450 | |
| 31-12-2024 | micro format | 20-06-2025 | 2025-00165655 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00208968 | |
| 31-12-2022 | micro format | 20-07-2023 | 2023-00264049 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20278723 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| -35,695 | 96,881 | 28,611 | 21,190 | 11,060 | ||
| -40,075 | 74,390 | 22,413 | 17,195 | 10,148 | ||
| 17,775 | 17,744 | 44,005 | 4,493 | 17,877 | ||
| -13,700 | -3,237 | 15,948 | 629 | - | ||
| 145,338 | 163,304 | 23,761 | 14,973 | 2,271 | ||
| 15.3% | 34.1% | 35.3% | 31.8% | 35.8% | ||
| 2.44 | 2.80 | 1.44 | 1.23 | 1.07 | ||
| 2.31 | 2.80 | 1.44 | 1.11 | 1.07 | ||
| 5.53 | 1.93 | 1.83 | 2.14 | 1.79 | ||
| -130.0% | 56.1% | 34.2% | 43.8% | 41.6% | ||
| -19.9% | 19.1% | 12.1% | 13.9% | 14.9% | ||
| -11.09 | 30.34 | 15.51 | 43.18 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €17,775 | €17,744 | €44,005 | €4,493 | €16,877 |
| Financial fixed assets | €0 | - | - | - | €1,000 |
| €19,491 | €15,288 | €6,605 | €3,857 | €3,027 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €55,186, after a profit of €81,593 in 2024. It is the lowest result since 2021.
Debt's share of the balance-sheet total rises from 65.9% to 84.7%. Equity is lower and debt is higher.
ACS Construct has no parent and no holdings in its annual accounts. is the only director.
| ILONATO
registered office since 06-05-2016 · founded in 2016 |
46 FTE (2025) 0653.826.421 |
| SOBIDAL
registered office since 14-11-2018 · founded in 2018 |
total assets €15.2m (2025) 0713.522.496 |
| WAYNE ENTREPRISE
registered office since 05-07-2022 · founded in 2022 |
total assets €3.1m (2025) 0788.260.206 |
| OLIVIA INVEST
registered office since 03-02-2021 · founded in 2021 |
total assets €2.7m (2025) 0762.865.804 |
| LEA HOLDING
registered office since 19-11-2019 · founded in 2019 |
total assets €1.3m (2025) 0737.814.167 |
| NVR
registered office since 26-09-2022 · founded in 2011 |
12 FTE (2025) 0840.797.978 |
| MSK GROUP
registered office since 15-01-2024 · founded in 2023 |
turnover €1.1m (2025) 0802.076.568 |
| KARSEN
registered office since 03-07-2019 · founded in 2019 · negative equity (2025) |
total assets €942,695 (2025) 0729.719.320 |
| EU DEPOT
registered office since 17-06-2013 · founded in 2013 · accounts filed late |
total assets €869,696 (2024) 0536.810.272 |
| REAL DEAL INVEST
registered office since 18-04-2023 · founded in 2023 |
total assets €645,328 (2024) 0800.868.127 |
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
ACS Construct was incorporated on 28 December 2020 as a private limited company by one natural person, with a starting capital of €10,000.12 The registered office was moved to Brussels in 2026.3 is director of the company, appointed by deed of 30-12-2020.2 Total assets rose from €47,789 in 2021 to €299,089 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Arthur Maesstraat 100 registered office 1130 Brussels | 28-12-2020 | 2.311.611.552 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21821C0148/00P000 | 3,627 m² | 1 · 2,163 m² | 16.8 m · 2 |
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. Use the enterprise number 0760.604.516
If something looks wrong or is missing, please tell us.