Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Green is investment, beige is depreciation. Machinery stands 249.1% higher than in 2024.
Latest accounts filed late: after the legal deadline.
Lower net result than 83% of companies in food and beverage service. Sector median €10,278 · 4,838 companies.
The dashed line is the sector median: 1.8% across 23,788 companies (NACE 56, micro).
About 8 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 56, micro). It does better than 24% of them on solvency, 8% on liquidity, 8% on profitability and 6% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
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).
In July 2024, 6,008 companies had the same profile as ALRO CONSTRUCT has now. Each dot stands for 16 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALRO CONSTRUCT itself: 8.3% within 12 months.
The method was tested on the 497,447 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 6,008 companies, not a prediction for ALRO 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.
Liquidity is insufficient, with a current ratio of 0.92 (1.55 in 2024), below 1. Short-term debt is 104.1% and cash 5.7% of total assets. Equity is negative.
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.
The company filed its last 5 accounts on average 116 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| ALRO CONSTRUCT Zaventem | €112,227 | €129,638 | -4.1% | - |
| PALM Sint-Genesius-Rode | €116,268 | €110,981 | -51.0% | - |
| GURKA Aarschot | €116,301 | €147,759 | 36.5% | - |
| RAMA Geraardsbergen | €114,630 | €127,606 | 67.8% | - |
| Dos Amigos Roeselare | €116,454 | €121,102 | 16.1% | - |
| RZ INVEST Wavre | €116,722 | €116,257 | 73.0% | - |
| LIEON Hasselt | €118,548 | €142,637 | 48.5% | - |
These companies have the same main activity as ALRO CONSTRUCT: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €115,000 and €119,000, founded between 2020 and 2021.
ALRO CONSTRUCT files the abbreviated format. That format states no turnover. The gross margin rose from €8,112 in 2021 to €129,638 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 20% of 4,845 companies in 2025.
Higher than 42% of 4,743 companies in 2025.
Higher than 13% of 4,767 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
112,227 | 54,480 | 18,116 | 23,477 | 26,997 | |
21/28 |
4,575 | 2,406 | 2,846 | 2,679 | 3,918 | |
21 |
- | 239 | 239 | 479 | 718 | |
22/27 |
3,375 | 967 | 1,406 | 1,000 | 2,000 | |
23 |
3,375 | 967 | 1,406 | - | - | |
24 |
- | - | - | 1,000 | 2,000 | |
28 |
1,200 | 1,200 | 1,200 | 1,200 | 1,200 | |
29/58 |
107,652 | 52,074 | 15,271 | 20,798 | 23,079 | |
3 |
10,361 | 8,126 | 8,126 | - | - | |
30/36 |
10,361 | 8,126 | 8,126 | - | - | |
40/41 |
89,897 | 21,868 | 522 | 8,346 | 5,369 | |
40 |
89,897 | 15,133 | - | 501 | - | |
41 |
- | 6,736 | 522 | 7,845 | 5,369 | |
54/58 |
6,372 | 22,080 | 6,623 | 12,452 | 17,710 | |
490/1 |
1,023 | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
112,227 | 54,480 | 18,116 | 23,477 | 26,997 | |
10/15 |
-4,587 | 15,517 | -6,116 | 12,135 | 15,688 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
14 |
-14,587 | 5,517 | -16,116 | 2,135 | 5,688 | |
17/49 |
116,814 | 38,963 | 24,233 | 11,342 | 11,309 | |
42/48 |
116,814 | 33,624 | 24,233 | 11,342 | 11,309 | |
43 |
- | - | - | - | 308 | |
430/8 |
- | - | - | - | 308 | |
44 |
33,049 | - | 18,389 | 362 | 20 | |
440/4 |
33,049 | 0 | 18,389 | 362 | 20 | |
45 |
75,417 | 23,177 | 5,843 | - | - | |
450/3 |
13,520 | 8,207 | 624 | - | - | |
454/9 |
61,896 | 14,970 | 5,219 | - | - | |
47/48 |
8,349 | 10,448 | - | 10,980 | 10,980 | |
492/3 |
- | 5,339 | - | - | - | |
| Income statement | ||||||
70 |
- | - | 195,482 | 62,593 | 112,636 | |
9900 |
129,638 | 115,432 | 37,413 | -423 | 8,112 | |
60/61 |
- | - | 150,079 | 63,016 | 104,524 | |
62 |
138,881 | 68,888 | 52,734 | - | - | |
630 |
592 | 679 | 1,591 | 1,239 | 1,239 | |
640/8 |
2,077 | 17,835 | 1,247 | 405 | 1,168 | |
9901 |
-11,912 | 28,030 | -18,159 | -2,067 | 5,705 | |
75/76B |
9 | 6 | - | - | - | |
75 |
9 | 6 | - | - | - | |
65/66B |
1,647 | 200 | 92 | 138 | 17 | |
65 |
1,647 | 200 | 92 | 138 | 17 | |
9903 |
-13,551 | 27,836 | -18,251 | -2,205 | 5,688 | |
67/77 |
6,553 | 6,203 | - | 1,348 | - | |
9904 |
-20,104 | 21,633 | -18,251 | -3,553 | 5,688 | |
9905 |
-20,104 | 21,633 | -18,251 | -3,553 | 5,688 | |
| Appropriation of the result | ||||||
9906 |
-14,587 | 5,517 | -16,116 | 2,135 | 5,688 | |
14P |
5,517 | -16,116 | 2,135 | 5,688 | - | |
| Document | ||||||
The notes to these accounts have 8 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 02-11-2026.
2025 annual accounts filed 94 days after the deadline. Filed on 2 November 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00600933.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-11-2026 | 2026-00600933 | |
| 31-12-2024 | full format | 27-03-2026 | 2026-00069849 | |
| 31-12-2023 | full format | 30-09-2024 | 2024-00489319 | |
| 31-12-2022 | micro format | 20-10-2023 | 2023-00490526 | |
| 31-12-2021 | micro format | 15-11-2022 | 2022-20521680 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| -11,320 | 28,708 | -16,568 | -828 | 6,945 | ||
| -19,512 | 22,312 | -16,660 | -2,314 | 6,928 | ||
| 3,000 | 239 | 1,758 | 0 | 5,158 | ||
| -15,708 | 15,457 | -5,829 | -5,258 | - | ||
| -9,162 | 18,449 | -8,962 | 9,456 | 11,770 | ||
| - | - | -9.3% | -3.3% | 5.1% | ||
| -4.1% | 28.5% | -33.8% | 51.7% | 58.1% | ||
| 0.92 | 1.55 | 0.63 | 1.83 | 2.04 | ||
| 0.83 | 1.31 | 0.29 | 1.83 | 2.04 | ||
| - | 2.51 | - | 0.93 | 0.72 | ||
| - | 139.4% | - | -29.3% | 36.3% | ||
| -17.9% | 39.7% | -100.7% | -15.1% | 21.1% | ||
| -6.87 | over 100 | -179.37 | -6.01 | over 100 | ||
| - | - | 1 day | 3 days | 17 days | ||
| - | - | 45 days | 2 days | 0 days |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | €3,000 | - | €1,758 | - | €3,000 |
| Intangible fixed assets | - | - | - | - | €958 |
| Financial fixed assets | - | - | - | - | €1,200 |
| €592 | €679 | €1,591 | €1,239 | €1,239 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €11,912, after a profit of €28,030 in 2024.
Equity is negative. Debt (€116,814) exceeds the balance-sheet total (€112,227).
ALRO CONSTRUCT has no parent and no holdings in its annual accounts. Gerkens EMMA is the only director.
| Au Sommet
registered office since 15-11-2024 · founded in 2024 |
turnover €1.7m (2025) 1016.254.647 |
| INOCLEAN
establishment since 01-09-2022 · founded in 2011 |
total assets €1.6m (2025) 0836.852.256 |
| BD MONTAGES
registered office since 25-09-2008 · founded in 2008 |
6.1 FTE (2025) 0806.596.669 |
| RND CONCEPT
registered office since 20-01-2022 · founded in 2022 · accounts filed late |
turnover €1.2m (2024) 0780.714.693 |
| QUALITY CARS ZAVENTEM
registered office since 27-11-2019 · founded in 2019 · accounts filed late |
turnover €1.2m (2024) 0738.467.136 |
| Elk Trade
registered office since 26-06-2024 · founded in 2024 |
total assets €1.1m (2025) 1010.812.749 |
| SKALL GROUP
registered office since 29-03-2021 · founded in 2021 |
total assets €1.0m (2025) 0765.805.991 |
| VDB GLOBAL CONSTRUCTION
registered office since 08-03-2024 · founded in 2024 |
total assets €974,746 (2025) 1006.935.917 |
| E&D PARTNERS
registered office since 01-07-2021 · founded in 2021 |
total assets €974,138 (2025) 0770.614.520 |
| CK BUILD
registered office since 10-11-2021 · founded in 2021 · accounts filed late |
turnover €935,419 (2024) 0772.365.369 |
| MARDER via Roman Ardian, at ALRO CONSTRUCT until 2024 · Manager · deed of 06-08-2018 Bankrupt |
total assets €299,216 (2023) |
| YOLO via Roman Ardian, at ALRO CONSTRUCT until 2024 · Director · deed of 04-09-2024 founded in 2019 |
turnover €183,329 (2025) |
| ROAL CONSTRUCT via MANEA Stefan Daniel, at ALRO CONSTRUCT until 2022 · Director · deed of 21-05-2021 No longer active · founded in 2021 |
turnover €240,619 (2024) |
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
ALRO CONSTRUCT was incorporated on 11 December 2020 as a private limited company by three natural persons, with a starting capital of €100.12 The registered office moved to ZAVENTEM Imperiastraat in 2021 and to Zaventem Leuvensesteenweg in 2024.34 Since 2020, Gerkens EMMA has served as manager.5 Turnover grew from €112,636 in 2021 to €195,482 in 2023.6
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Leuvensesteenweg 246 registered office 1932 Zaventem | |||
| L'Ecuyer Place du Général-Leman 2, 4000 Liège | 11-12-2020 | 2.322.924.920 | Restaurant |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23078A0472/00L000 | Flanders | 461 m² | 1 · 192 m² | 10.8 m · 3 |
| 62814C0212/00Z003 | Wallonia | 162 m² | 1 · 88 m² | 13.7 m · 4 |
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