AR CONSTRUCT
ActiveSummary
AR CONSTRUCT has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €78,043 and a net result of €26,936. Equity is growing by about 77% per year across the filed financial years. Its solvency ranks better than 70% of 34,590 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Equity
- €78,043
- Profit
- €26,936
Why 87raises risk1 change of registered office in 24 monthsSize: total assets €120,977lowers riskLiquidity: current ratio 2.67, cash €33,144Equity €78,043 (64.5% of total assets)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 70% on solvency, 67% on liquidity, 82% on profitability and 84% on growth.
The bankruptcy probability was computed on 22-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 2 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Registered officeRegistered-office move
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2019 to 2025net €26,936 ▲36.3%
Financials · financial year 2025, micro format
2025 annual accounts filed late (2 days) Filed on 2 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00029701.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result recovers in 2025; 2025 is 33% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 34,695 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 34,695 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €31,855 | - | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,640 | €1,655 | €1,953 | €3,598 | €2,107 | €1,185 | €2,299 | ▲ 94.1% |
| Other operating charges640/8 | - | - | - | €298 | €149 | €446 | €149 | ▼ 66.7% |
| Gross operating margin9900 | €6,174 | €7,371 | €16,323 | €11,394 | €29,810 | €27,172 | €36,523 | ▲ 34.4% |
| Operating profit (loss)9901 | €4,087 | -€4,013 | €1,994 | €7,498 | €27,554 | €25,541 | €34,075 | ▲ 33.4% |
| Financial income75/76B | - | - | - | €1,670 | €111 | - | €493 | - |
| Recurring financial income75 | - | - | - | €1,670 | €111 | - | €493 | - |
| Non-recurring financial income76B | - | - | - | €1,670 | - | - | €493 | - |
| Financial charges65/66B | - | - | - | €151 | €418 | €399 | €106 | ▼ 73.3% |
| Recurring financial charges65 | €990 | €636 | €192 | €151 | €418 | €399 | €106 | ▼ 73.3% |
| Profit (loss) for the period before taxes9903 | €3,097 | -€4,649 | €1,803 | €9,017 | €27,246 | €25,142 | €34,462 | ▲ 37.1% |
| Income taxes67/77 | €374 | €317 | €1,096 | €1,976 | €7,295 | €5,373 | €7,525 | ▲ 40.1% |
| Profit (loss) for the period9904 | €2,723 | -€4,966 | €707 | €7,042 | €19,951 | €19,769 | €26,936 | ▲ 36.3% |
| Profit (loss) for the period to be appropriated9905 | €2,723 | -€4,966 | €707 | €7,042 | €19,951 | €19,769 | €26,936 | ▲ 36.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €16,030 | €6,921 | €28,619 | €28,121 | €72,630 | €80,491 | €120,977 | ▲ 50.3% |
| Fixed assets21/28 | €4,962 | €4,829 | €2,876 | €3,213 | €1,855 | €980 | €6,308 | ▲ 543% |
| Tangible fixed assets22/27 | €4,920 | €4,829 | €2,876 | €3,213 | €1,855 | €980 | €6,308 | ▲ 543% |
| Plant, machinery and equipment23 | - | - | - | €923 | €1,210 | €980 | €913 | ▼ 6.9% |
| Furniture and vehicles24 | - | - | - | €2,289 | €645 | - | €5,395 | - |
| Financial fixed assets28 | €42 | - | - | - | - | - | - | - |
| Current assets29/58 | €11,068 | €2,092 | €25,743 | €24,908 | €70,775 | €79,511 | €114,669 | ▲ 44.2% |
| Amounts receivable within one year40/41 | €9,486 | €1 | €22,748 | €19,016 | €69,220 | €71,965 | €81,525 | ▲ 13.3% |
| Trade receivables40 | - | - | - | €17,527 | €67,113 | €70,466 | €52,791 | ▼ 25.1% |
| Other amounts receivable41 | - | - | - | €1,489 | €2,107 | €1,499 | €28,734 | ▲ 1,817% |
| Cash at bank and in hand54/58 | €1,550 | €2,091 | €2,995 | €5,892 | €1,555 | €7,546 | €33,144 | ▲ 339% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €16,030 | €6,921 | €28,619 | €28,121 | €72,630 | €80,491 | €120,977 | ▲ 50.3% |
| Equity10/15 | €8,603 | €3,637 | €4,344 | €11,386 | €31,337 | €51,107 | €78,043 | ▲ 52.7% |
| Contributions10/11 | €12,350 | - | - | €12,350 | €12,350 | €12,350 | €12,350 | = |
| Profit (loss) carried forward14 | -€3,747 | -€8,713 | -€8,006 | -€964 | €18,987 | €38,757 | €65,693 | ▲ 69.5% |
| Amounts payable17/49 | €7,427 | €3,283 | €24,274 | €16,735 | €41,293 | €29,384 | €42,934 | ▲ 46.1% |
| Amounts payable within one year42/48 | €7,427 | €3,283 | €13,253 | €5,171 | €16,271 | €8,887 | €42,934 | ▲ 383% |
| Trade debts44 | €975 | €2,412 | €5,894 | €1,840 | €6,065 | €2,015 | €34,816 | ▲ 1,628% |
| Suppliers440/4 | - | - | - | €1,840 | €6,065 | €2,015 | €34,816 | ▲ 1,628% |
| Taxes, remuneration and social security45 | - | - | - | €1,976 | €9,271 | €6,872 | €8,095 | ▲ 17.8% |
| Taxes450/3 | - | - | - | €1,976 | €9,271 | €6,872 | €8,095 | ▲ 17.8% |
| Other amounts payable47/48 | - | - | - | €1,355 | €936 | - | €23 | - |
| Accrued charges and deferred income492/3 | - | - | - | €11,564 | €25,022 | €20,498 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,723 | -€4,966 | €707 | €7,042 | €19,951 | €19,769 | €26,936 | ▲ 36.3% |
| + Depreciation and write-downs630 | €1,640 | €1,655 | €1,953 | €3,598 | €2,107 | €1,185 | €2,299 | ▲ 94.1% |
| Operating cash flow (approximation) | €4,363 | -€3,311 | €2,660 | €10,639 | €22,059 | €20,954 | €29,236 | ▲ 39.5% |
| Investment in fixed assets (approximation) | - | -€1,521 | €0 | -€3,934 | -€749 | -€310 | -€7,627 | ▼ 2,358% |
| Change in cash | - | €541 | €904 | €2,897 | -€4,337 | €5,991 | €25,598 | ▲ 327% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 02-02-2026 | 2026-00029701 |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00022835 |
| 30-06-2023 | micro format | 25-01-2024 | 2024-00015069 |
| 30-06-2022 | micro format | 02-02-2023 | 2023-00025542 |
| 30-06-2021 | micro format | 25-01-2022 | 2022-01600135 |
| 30-06-2020 | micro format | 26-01-2021 | 2021-01800110 |
| 30-06-2019 | micro format | 31-01-2020 | 2020-03900409 |
| 30-06-2018 | micro format | 31-01-2019 | 2019-04500270 |
| 30-06-2017 | micro format | 31-01-2019 | 2019-04500164 |
| 30-06-2016 | full format | 17-03-2018 | 2018-07200177 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| da CONCEICAO AMARAL Ricardo |
|
Owners and capital
Capital and shareholders
- 12-01-2024 Capital stated in the deed · 100 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
07-05
Gazette deed
Registered officeRegistered-office move3 facts ▸
- General meeting, 17-11-2025
- Registered-office move, Avenue des Erables 52 à 1410 Waterloo
- Other provision, “référence de dépôt, L*26057921” (deed in French)
12-01
Gazette deed
Resignation: da CONCEICAO AMARAL Ricardo (manager)Appointment: da CONCEICAO AMARAL Ricardo (director) · Amendment of the articles · Capital conversion9 facts ▸
- General meeting, 27-12-2023
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible”, EUR (deed in French)
- Other provision, “renonciation à part non libérée et suppression compte apports non appelés, part non encore libérée du capital souscrit dans le passé” (deed in French)
- Capital
- Director resignation, da CONCEICAO AMARAL Ricardo (manager)
- Director appointment, da CONCEICAO AMARAL Ricardo (director (not named in the articles))
- Other provision, “exécution mandat, décharge gérant démissionnaire” (deed in French)
- Registered office clause, “Grand’Route 27,1428 Braine-l'Alleud” (deed in French)
Show earlier events
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 22 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0632.914.706
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25763I0592/00_000 | Wallonia | 368 m² | 1 · 89 m² | 10.0 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- AR CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, organe d’administration” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 13. Pouvoirs de l’organe d’administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation durée, un ou plusieurs administrateurs” (deed in French)“Indépendamment frais représentation,voyages,déplacements, rémunération des administrateurs” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, registre actions nominatives avec mentions CSA” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs au prorata si plusieurs, cessions entre vifs…” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 28 December at 17:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Comme en matière de modification des statuts, assemblée générale” (deed in French)“Assemblée générale, formes prévues modifications statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et moment si aucun autre désigné, désigner liquidateurs et déterminer pouvoirs et émoluments” (deed in French)