AH CONSTRUCT
ActiveSummary
AH CONSTRUCT has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €69,441 and a net result of €137,845. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 24% of 7586 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency43▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity tight (current ratio 1.2 against 1.12 in 2024; short-term debt: 81.8% and cash: 39.1% of total assets), and 81.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
18.2%
Return on assets
36.1%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 7586 sector peers (2025).
NBB · sector comparisonPosition among 7586 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
40 d early
2023
43 d early
2022
39 d early
2021
40 d early
2020
36 d early
2019
19 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 31 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 21 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€137,845▼ 14.8%
2024 · €161,768
Working capital
€61,943▲ 10.0%
2024 · €56,332
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€249,484▲ 2,005%€252,680▲ 1.3%€121,588▼ 51.9%€214,050▲ 76.0%€199,798▼ 6.7%
Net result€191,523above the sector's middle half▲ 1,909%€187,120above the sector's middle half▼ 2.3%€94,853above the sector's middle half▼ 49.3%€161,768above the sector's middle half▲ 70.5%€137,845above the sector's middle half▼ 14.8%
Equity€60,855within the sector's middle half▲ 0.9%€63,975within the sector's middle half▲ 5.1%€64,828within the sector's middle half▲ 1.3%€66,596within the sector's middle half▲ 2.7%€69,441within the sector's middle half▲ 4.3%
Total assets€374,858within the sector's middle half▲ 324%€335,894above the sector's middle half▼ 10.4%€204,934within the sector's middle half▼ 39.0%€528,303above the sector's middle half▲ 158%€382,284above the sector's middle half▼ 27.6%
Debt€314,003▲ 1,022%€271,919▼ 13.4%€140,106▼ 48.5%€461,707▲ 230%€312,843▼ 32.2%
Working capital€52,296within the sector's middle half▲ 8.4%€54,259within the sector's middle half▲ 3.8%€60,656within the sector's middle half▲ 11.8%€56,332within the sector's middle half▼ 7.1%€61,943within the sector's middle half▲ 10.0%
Solvency16.2%within the sector's middle half▼ 52.1pp19.0%within the sector's middle half▲ 2.8pp31.6%within the sector's middle half▲ 12.6pp12.6%below the sector's middle half▼ 19.0pp18.2%below the sector's middle half▲ 5.6pp
Current ratio1.17within the sector's middle half▼ 1.561.20within the sector's middle half▲ 0.031.43within the sector's middle half▲ 0.231.12within the sector's middle half▼ 0.311.20within the sector's middle half▲ 0.08
Return on assets (ROA)51.1%above the sector's middle half▲ 40.3pp55.7%above the sector's middle half▲ 4.6pp46.3%above the sector's middle half▼ 9.4pp30.6%above the sector's middle half▼ 15.7pp36.1%above the sector's middle half▲ 5.4pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 7% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €382,284
Fixed assets
€7,498 ▼ 26.9%
Current assets
€374,786 ▼ 27.7%
Equity and liabilities €382,284
Equity
€69,441 ▲ 4.3%
Debt
€312,843 ▼ 32.2%
Debt's share of the balance-sheet total falls from 87.4% to 81.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€205,041▼
2024 · €217,296
Cash flow
€143,088▼
2024 · €165,014
Debt to equity
4.51▼
2024 · 6.93
ROE
198.5%▼
2024 · 242.9%
Interest coverage
38.02▼
2024 · 225.11
Debt ≤ 1 year
€312,843▼
2024 · €461,707
Income taxes
€56,560▲
2024 · €51,321
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,053 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 5,053 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,612 | €3,555 | €3,761 | €3,246 | €5,243 | ▲ 61.5% |
| Other operating charges640/8 | - | €5,058 | €212 | €5,890 | €743 | ▼ 87.4% |
| Gross operating margin9900 | €252,940 | €261,292 | €125,562 | €223,186 | €205,784 | ▼ 7.8% |
| Operating profit (loss)9901 | €249,484 | €252,680 | €121,588 | €214,050 | €199,798 | ▼ 6.7% |
| Financial income75/76B | - | €1 | €253 | €4 | €1 | ▼ 86.8% |
| Recurring financial income75 | - | €1 | €253 | €4 | €1 | ▼ 86.8% |
| Financial charges65/66B | - | €525 | €568 | €965 | €5,393 | ▲ 459% |
| Recurring financial charges65 | €299 | €525 | €568 | €965 | €5,393 | ▲ 459% |
| Profit (loss) for the period before taxes9903 | €249,184 | €252,156 | €121,274 | €213,089 | €194,405 | ▼ 8.8% |
| Income taxes67/77 | €57,662 | €65,036 | €26,421 | €51,321 | €56,560 | ▲ 10.2% |
| Profit (loss) for the period9904 | €191,523 | €187,120 | €94,853 | €161,768 | €137,845 | ▼ 14.8% |
| Profit (loss) for the period to be appropriated9905 | €191,523 | €187,120 | €94,853 | €161,768 | €137,845 | ▼ 14.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €374,858 | €335,894 | €204,934 | €528,303 | €382,284 | ▼ 27.6% |
| Fixed assets21/28 | €8,560 | €9,716 | €4,172 | €10,264 | €7,498 | ▼ 26.9% |
| Tangible fixed assets22/27 | €5,745 | €6,901 | €4,172 | €10,264 | €7,498 | ▼ 26.9% |
| Plant, machinery and equipment23 | - | €779 | €520 | €7,761 | €6,143 | ▼ 20.8% |
| Furniture and vehicles24 | - | €6,121 | €3,652 | €2,504 | €1,355 | ▼ 45.9% |
| Financial fixed assets28 | €2,815 | €2,815 | - | - | - | - |
| Current assets29/58 | €366,298 | €326,179 | €200,762 | €518,039 | €374,786 | ▼ 27.7% |
| Amounts receivable within one year40/41 | €324,299 | €281,271 | €191,705 | €395,707 | €225,245 | ▼ 43.1% |
| Trade receivables40 | - | €278,184 | €180,876 | €361,346 | €217,846 | ▼ 39.7% |
| Other amounts receivable41 | - | €3,087 | €10,829 | €34,361 | €7,399 | ▼ 78.5% |
| Cash at bank and in hand54/58 | €41,999 | €44,908 | €9,056 | €121,527 | €149,541 | ▲ 23.1% |
| Deferred charges and accrued income490/1 | - | - | - | €805 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €374,858 | €335,894 | €204,934 | €528,303 | €382,284 | ▼ 27.6% |
| Equity10/15 | €60,855 | €63,975 | €64,828 | €66,596 | €69,441 | ▲ 4.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €40,395 | €43,515 | €44,368 | €46,136 | €48,981 | ▲ 6.2% |
| Amounts payable17/49 | €314,003 | €271,919 | €140,106 | €461,707 | €312,843 | ▼ 32.2% |
| Amounts payable within one year42/48 | €314,003 | €271,919 | €140,106 | €461,707 | €312,843 | ▼ 32.2% |
| Current portion of amounts payable after more than one year42 | - | €41,710 | - | €46,898 | €41,748 | ▼ 11.0% |
| Trade debts44 | €59,210 | €36,627 | €18,860 | €204,599 | €115,074 | ▼ 43.8% |
| Suppliers440/4 | - | €36,627 | €18,860 | €204,599 | €115,074 | ▼ 43.8% |
| Taxes, remuneration and social security45 | - | €9,200 | €1,076 | €27,600 | - | - |
| Taxes450/3 | - | €9,200 | €1,076 | €27,600 | - | - |
| Other amounts payable47/48 | - | €184,383 | €120,169 | €182,610 | €156,021 | ▼ 14.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €191,523 | €187,120 | €94,853 | €161,768 | €137,845 | ▼ 14.8% |
| + Depreciation and write-downs630 | €2,612 | €3,555 | €3,761 | €3,246 | €5,243 | ▲ 61.5% |
| Operating cash flow (approximation) | €194,135 | €190,674 | €98,614 | €165,014 | €143,088 | ▼ 13.3% |
| Investment in fixed assets (approximation) | - | -€4,711 | €1,783 | -€9,338 | -€2,477 | ▲ 73.5% |
| Change in cash | - | €2,909 | -€35,852 | €112,471 | €28,014 | ▼ 75.1% |
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
2026
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
21-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-09
Financial
Highest result since 2018net €191,523 ▲1,909%
Net result €191,523, the highest in the series.
25-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 19 days late
2019
11-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 11 days late
2018
15-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 15 days late
2017
24-04
NBB filing
Annual accounts filed
fiscal year 2016 · full 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.
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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, Mouscron · 1 establishment unit since 2008
Ground area
223 m²
Building footprint
93 m²
Parcel 54003R0332/00D000, Wallonia. Linked by address, not a title deed.
1 establishment unit
AH CONSTRUCT
since 20082.173.645.284
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54003R0332/00D000 | Wallonia | 223 m² | 1 · 93 m² | - |
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.
Recognitions · licences · registrations
Recognised contractor
7 categoriesAH CONSTRUCT SRL32728
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 13,222 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
Founded30-09-2008
Fiscal year end30-09
Activities, NACEBEL 2025
41001General construction of residential buildings
71121Engineering and related technical consultancy, excluding land surveyors
Contact
E-mail
a.hospied@ahconstruct.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0806703072
Also
9925:BE0806703072
Registered
09-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.