B.I.F. CONSTRUCT
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 5 days after the deadline Filed on 5 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00382514.
Annual accounts 2025 filed on 05-08-2026 at the NBB all 12 filings
Turnover
≈ €61,000
Estimated: probably between €28,000 and €120,000
Total assets
€18,403▼ 50.2%
2024 · €36,975
Net result
-€11,833▼ 25.9%
2024 · -€9,400
Working capital
€18,051▼ 39.6%
2024 · €29,884
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€11,523
▼ 87.9%
2025
20182025
Net result
-€11,833
▼ 25.9%
2025
lowest quarter of the sector
20182025
Equity
€18,051
▼ 39.6%
2025
lowest quarter of the sector
20182025
Total assets
€18,403
▼ 50.2%
2025
lowest quarter of the sector
20182025
Debt
€351
▼ 95.0%
2025
20182025
Working capital
€18,051
▼ 39.6%
2025
middle half of the sector
20182025
Solvency
98.1%
▲ 17.3pp
2025
highest quarter of the sector
20182025
Current ratio
52.39
▲ 47.17
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-64.3%
▼ 38.9pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€3,254-€7,287€22,873€12,077▼ 47.2%€6,517▼ 46.0%-€6,133-€11,523▼ 87.9%
Net result€2,900-€8,722below the sector's middle half€20,365within the sector's middle half€8,015within the sector's middle half▼ 60.6%€4,312within the sector's middle half▼ 46.2%-€9,400below the sector's middle half-€11,833below the sector's middle half▼ 25.9%
Equity€12,413-€15,313▲ 23.4%€6,592below the sector's middle half▼ 57.0%€26,956within the sector's middle half▲ 309%€34,971within the sector's middle half▲ 29.7%€39,283within the sector's middle half▲ 12.3%€29,884within the sector's middle half▼ 23.9%€18,051below the sector's middle half▼ 39.6%
Total assets€12,413-€15,313▲ 23.4%€22,821below the sector's middle half▲ 49.0%€34,959below the sector's middle half▲ 53.2%€48,314below the sector's middle half▲ 38.2%€41,515below the sector's middle half▼ 14.1%€36,975below the sector's middle half▼ 10.9%€18,403below the sector's middle half▼ 50.2%
Debt€16,229€8,003▼ 50.7%€13,343▲ 66.7%€2,232▼ 83.3%€7,091▲ 218%€351▼ 95.0%
Working capital€6,592within the sector's middle half€26,956within the sector's middle half▲ 309%€34,971within the sector's middle half▲ 29.7%€39,283within the sector's middle half▲ 12.3%€29,884within the sector's middle half▼ 23.9%€18,051within the sector's middle half▼ 39.6%
Solvency100.0%-100.0%=28.9%within the sector's middle half▼ 71.1pp77.1%above the sector's middle half▲ 48.2pp72.4%above the sector's middle half▼ 4.7pp94.6%above the sector's middle half▲ 22.2pp80.8%above the sector's middle half▼ 13.8pp98.1%above the sector's middle half▲ 17.3pp
Current ratio1.41within the sector's middle half4.37above the sector's middle half▲ 2.963.62above the sector's middle half▼ 0.7518.60above the sector's middle half▲ 14.985.21above the sector's middle half▼ 13.3952.39above the sector's middle half▲ 47.17
Return on assets (ROA)18.9%-38.2%below the sector's middle half▼ 57.2pp58.3%above the sector's middle half▲ 96.5pp16.6%within the sector's middle half▼ 41.7pp10.4%within the sector's middle half▼ 6.2pp-25.4%below the sector's middle half▼ 35.8pp-64.3%below the sector's middle half▼ 38.9pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €11,523, larger than the loss of €6,133 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €18,403
Equity
€18,051 ▼ 39.6%
Debt
€351 ▼ 95.0%
Debt's share of the balance-sheet total falls from 19.2% to 1.9%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.02▼
2024 · 0.24
ROE
-65.6%▼
2024 · -31.5%
Debt ≤ 1 year
€351▼
2024 · €7,091
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | €3,613 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €16,305 | - |
| Other operating charges640/8 | - | - | - | €3,748 | €1,248 | €149 | €2,178 | €128 | ▼ 94.1% |
| Gross operating margin9900 | - | €3,602 | €14,028 | €26,621 | €13,325 | €6,666 | -€3,955 | €4,910 | - |
| Operating profit (loss)9901 | - | €3,254 | -€7,287 | €22,873 | €12,077 | €6,517 | -€6,133 | -€11,523 | ▼ 87.9% |
| Financial income75/76B | - | - | - | €823 | - | - | - | €0 | - |
| Recurring financial income75 | - | - | €1,382 | €823 | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €3,330 | €449 | €928 | €2,954 | €310 | ▼ 89.5% |
| Recurring financial charges65 | - | €354 | €2,817 | €3,330 | €449 | €928 | €2,954 | €310 | ▼ 89.5% |
| Profit (loss) for the period before taxes9903 | - | €2,900 | -€8,722 | €20,365 | €11,628 | €5,589 | -€9,087 | -€11,833 | ▼ 30.2% |
| Income taxes67/77 | - | - | - | €0 | €3,613 | €1,277 | €313 | - | - |
| Profit (loss) for the period9904 | - | €2,900 | -€8,722 | €20,365 | €8,015 | €4,312 | -€9,400 | -€11,833 | ▼ 25.9% |
| Profit (loss) for the period to be appropriated9905 | - | €2,900 | -€8,722 | €20,365 | €8,015 | €4,312 | -€9,400 | -€11,833 | ▼ 25.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12,413 | €15,313 | €22,821 | €34,959 | €48,314 | €41,515 | €36,975 | €18,403 | ▼ 50.2% |
| Current assets29/58 | €12,413 | €15,313 | €22,821 | €34,959 | €48,314 | €41,515 | €36,975 | €18,403 | ▼ 50.2% |
| Amounts receivable within one year40/41 | €12,102 | €15,296 | €21,006 | €34,223 | €47,924 | €40,159 | €36,555 | €16,984 | ▼ 53.5% |
| Trade receivables40 | - | - | - | €18,466 | €35,689 | €23,610 | €22,467 | €5,008 | ▼ 77.7% |
| Other amounts receivable41 | - | - | - | €15,757 | €12,235 | €16,549 | €14,088 | €11,977 | ▼ 15.0% |
| Cash at bank and in hand54/58 | €312 | €17 | €1,267 | €736 | €390 | €1,356 | €420 | €1,419 | ▲ 238% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12,413 | €15,313 | €22,821 | €34,959 | €48,314 | €41,515 | €36,975 | €18,403 | ▼ 50.2% |
| Equity10/15 | €12,413 | €15,313 | €6,592 | €26,956 | €34,971 | €39,283 | €29,884 | €18,051 | ▼ 39.6% |
| Contributions10/11 | €7,000 | €7,000 | - | €7,000 | €7,000 | €7,000 | €7,000 | €7,000 | = |
| Capital10 | - | - | - | - | - | - | - | €7,000 | - |
| Issued capital100 | - | - | - | - | - | - | - | €7,000 | - |
| Contributions outside capital11 | - | - | - | - | €7,000 | €7,000 | €7,000 | - | - |
| Other1109/19 | - | - | - | - | €7,000 | €7,000 | €7,000 | - | - |
| Reserves13 | €828 | €828 | €828 | €828 | €828 | €828 | €828 | €828 | = |
| Non-distributable reserves130/1 | - | - | - | €828 | €828 | €828 | €828 | €828 | = |
| Reserves not available under the articles1311 | - | - | - | €828 | €828 | €828 | €828 | €828 | = |
| Distributable reserves133 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) carried forward14 | €4,585 | €7,485 | -€1,237 | €19,128 | €27,143 | €31,455 | €22,056 | €10,223 | ▼ 53.6% |
| Amounts payable17/49 | - | - | €16,229 | €8,003 | €13,343 | €2,232 | €7,091 | €351 | ▼ 95.0% |
| Amounts payable within one year42/48 | - | - | €16,229 | €8,003 | €13,343 | €2,232 | €7,091 | €351 | ▼ 95.0% |
| Trade debts44 | - | - | €16,229 | €8,003 | €9,730 | €377 | €149 | €224 | ▲ 50.1% |
| Suppliers440/4 | - | - | - | €8,003 | €9,730 | €377 | €149 | €224 | ▲ 50.1% |
| Taxes, remuneration and social security45 | - | - | - | - | €3,613 | €1,855 | €680 | €128 | ▼ 81.2% |
| Taxes450/3 | - | - | - | - | €3,613 | €1,855 | €680 | €128 | ▼ 81.2% |
| Other amounts payable47/48 | - | - | - | - | - | - | €6,262 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | - | €2,900 | -€8,722 | €20,365 | €8,015 | €4,312 | -€9,400 | -€11,833 | ▼ 25.9% |
| Operating cash flow (approximation) | - | €2,900 | -€8,722 | €20,365 | €8,015 | €4,312 | -€9,400 | -€11,833 | ▼ 25.9% |
| Change in cash | - | -€294 | €1,250 | -€531 | -€346 | €966 | -€936 | €999 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,805 companies had the same profile as B.I.F. CONSTRUCT has now. Two years later, 88.1% were still going and 2.0% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
88.1%
was still going
9.8%
stopped otherwise
2.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of B.I.F. CONSTRUCT itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,446 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 4,805 companies, not a prediction for B.I.F. 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.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 05-08-2026 | 2026-00382514 | |
| 31-12-2024 | micro format | 23-08-2025 | 2025-00395118 | |
| 31-12-2023 | micro format | 29-10-2024 | 2024-00517067 | |
| 31-12-2022 | micro format | 08-04-2024 | 2024-00060079 | |
| 31-12-2021 | micro format | 01-09-2022 | 2022-20428115 | |
| 31-12-2020 | micro format | 12-10-2021 | 2021-71800018 | |
| 31-12-2019 | micro format | 20-05-2021 | 2021-14700510 | |
| 31-12-2018 | micro format | 23-10-2019 | 2019-71300195 | |
| 31-12-2016 | full format | 18-08-2017 | 2017-45100025 | |
| 31-12-2015 | full format | 18-08-2016 | 2016-43300004 |