Losses
-€34,543 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
ALTER
Lifetime
11 annual accounts with figures on one time axispeak €139,551 (2024)
-€5,731▼ €145,281
lowest -€22,876 (2023)
-€9,429▼ €7,191
peak €38,340 (2022)
€3,797▼ 71.3%
€26,780▲ 265%
peak 1 FTE (2016)
-not published
Board4 names since 2020
1 directorChabaan Redouan
Owners2 names in the annual accounts
Documentsfilings and deeds
06-10-202667 days late
2025micro format
Gross margin from €139,551 to -€5,731Loss of €9,429Equity from €13,226 to €3,797Debts from €7,329 to €26,780
Key points
from the 2025 annual accountsDebts
€26,780 88% of the balance sheet
Filings
11 annual accounts 67 days
Latest accounts filed late: after the legal deadline.
Turnover not published (abbreviated or micro format)
Checked score
52
Fair
Financially stronger than 12% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.9% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,701 companies (NACE 43, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 6.3%
01-2025: 6.2%▼ -0.1 percentage points vs 12-2024
02-2025: 6.2%● unchanged vs 01-2025
03-2025: 6.2%● unchanged vs 02-2025
04-2025: 6.6%▲ +0.4 percentage points vs 03-2025
05-2025: 6.6%● unchanged vs 04-2025
06-2025: 6.4%▼ -0.2 percentage points vs 05-2025
07-2025: 6.1%▼ -0.3 percentage points vs 06-2025
08-2025: 7.0%▲ +0.9 percentage points vs 07-2025
09-2025: 8.1%▲ +1.1 percentage points vs 08-2025
10-2025: 11.6%▲ +3.5 percentage points vs 09-2025
11-2025: 11.8%▲ +0.2 percentage points vs 10-2025
12-2025: 12.9%▲ +1.1 percentage points vs 11-2025
01-2026: 16.0%▲ +3.1 percentage points vs 12-2025
02-2026: 16.0%● unchanged vs 01-2026
03-2026: 16.2%▲ +0.2 percentage points vs 02-2026highest value
04-2026: 15.2%▼ -1.0 percentage point vs 03-2026
05-2026: 15.2%● unchanged vs 04-2026
06-2026: 14.6%▼ -0.6 percentage points vs 05-2026
07-2026: 3.2%▼ -11.4 percentage points vs 06-2026
08-2026: 4.0%▲ +0.8 percentage points vs 07-2026
09-2026: 4.1%▲ +0.1 percentage points vs 08-2026
10-2026: 1.9%▼ -2.2 percentage points vs 09-2026lowest value
11-2026: 1.9%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Last filed accounts filed 67 days late; 3 of the last 3 accounts late
Loss of €9,429, the second in a row (financial year 2025)
Sector: Specialised construction activities (NACE 43)
lowers risk
Size: total assets €30,576
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 43, micro). It does better than 15% of them on solvency, 24% on liquidity, 4% on profitability and 6% on growth.
The bankruptcy probability was computed on 07-11-2026 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 moderate class on 30-06-2025, 2.4% 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).
Comparable companies, two years later
In July 2024, 1,294 companies had the same profile as ALTER has now. Each dot stands for 4 companies, two years later.
89.6%
were still trading
5.9%
stopped another way
4.1%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALTER itself: 1.9% within 12 months.
Test of the method
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 1,294 companies, not a prediction for ALTER. 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.
Credit verdict
No publishable credit limit, so credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is tight, with a current ratio of 1.09 (2.39 in 2024), below the usual 1.5. Short-term debt is 87.6% and cash 27.2% of total assets. 87.6% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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.
Signals
Seven signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€9,429
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 35119 sector peers (2025).
NBB · sector comparisonPosition among 35119 sector peers
Solvency
better than 16%
← weakest
strongest →
raises risk · 2025 accounts filed 67 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-10-2026, 67 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
67 days late
2024
311 days late
2023
96 days late
2022
16 days late
2021
135 days late
2020
139 days late
2019
155 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 87 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 5 November (4 of the last 5 accounts filed within 81 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
CR
Chabaan Redouan
Director
- Pieter Goegebuer 95%annual accounts 2016
- Thomas Goegebuer 5%annual accounts 2016
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0507979397
Registered office moved within Willebroek
New registered office: August Van Landeghemstraat 69, 2830 Willebroek · Previous registered office: Dendermondsesteenweg 11/01, 2830 Willebroek, België · Gazette deed
Environmental permit granted
Nieuwbouw of aanleggen, Slopen van niet vrijstaande gebouwen of constructies, Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden and 1 more · Willebroek
Registered office moved to Willebroek
New registered office: Dendermondsesteenweg 11/01 te 2830 Willebroek · Resignation: Peeters Jan (director) · Appointment: Chaâban Mohamed Redouan (director) · General meeting of 03-03-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ALTER Willebroek | €30,576 | -€5,731 | 12.4% | - |
| VNM CONSTRUCT Forest | €31,347 | -€14,710 | 89.6% | - |
| IONUT VASILESCU Chièvres | €31,422 | -€1,348 | 100.0% | - |
| E&L&N Evergem | €26,751 | -€105 | 42.1% | - |
| VAN HOUDT Willebroek | €23,604 | -€11,933 | 88.7% | - |
| A.J.-RENCO Antwerp | €25,591 | -€4,261 | 61.7% | - |
| VAN BESAUW - DOCKX Beerse | €23,514 | €425 | 57.8% | - |
These companies have the same main activity as ALTER: other building finishing work (NACE 43350). They are comparable in size and age: total assets between €23,500 and €31,400, founded between 2011 and 2016.
Official details
Source: KBO- Status
- Active since 07-01-2015Normal situation
- Activity
- Other building finishing workNACE 43350
- Establishment unit
- 2.238.340.920since 07-01-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 10-01-2026
Insights on ALTER
ALTER files the micro format. That format states no turnover. The gross margin fell from €11,500 in 2015 to -€5,731 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ALTER
- What is the company number of ALTER?
- The company number of ALTER is 0507.979.397. The VAT number is the same number with BE in front: BE 0507.979.397.
- Where is ALTER based?
- The registered office is at August Van Landeghemstraat 69, 2830 Willebroek.Company details
- What does ALTER do?
- According to the KBO register, the main activity is other building finishing work (NACE 43350).
- What is the legal form of ALTER?
- ALTER is a private limited company (BV).
- When was ALTER founded?
- ALTER was founded on 07-01-2015.
- Is ALTER still active?
- Yes, ALTER is an active enterprise in the KBO register.
- How many employees does ALTER have?
- ALTER had an average of 0.1 full-time equivalents in financial year 2020, according to the filed annual accounts.Financials
- What is the turnover of ALTER?
- The annual accounts for financial year 2025 state no turnover. The abbreviated or micro format does not require it.
- Is ALTER profitable?
- In financial year 2025, ALTER made a loss of €9,429.
- Where can I find the annual accounts of ALTER?
- ALTER filed 11 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ALTER due?
- ALTER must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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