B & S CONSTRUCT
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 29-10-2026 at the NBB all 20 filings
Turnover
≈ €350,000
Estimated: probably between €220,000 and €800,000
EBIT margin
Not included in this filing
Net result
€18,227
2025 · -€61,172
Working capital
€314,267▲ 2.0%
2025 · €308,161
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€47,971
2026
20192026
Net result
€18,227
2026
20192026
Equity
€521,910
▲ 3.6%
2026
20192026
Total assets
€621,985
▲ 0.8%
2026
20192026
Debt
€100,075
▼ 11.6%
2026
20192026
Working capital
€314,267
▲ 2.0%
2026
20192026
Solvency
83.9%
▲ 2.3pp
2026
20192026
Current ratio
4.14
▲ 0.09
2026
20192026
Return on assets (ROA)
2.9%
▲ 12.8pp
2026
20192026
Staff (FTE)
0
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.1m-€0.06m▼ 45.9%€0.1m▲ 136%€0.09m▼ 36.2%€0.1m▲ 19.3%€0.09m▼ 16.6%-€0.06m€0.05m
Net result€0.06m-€0.03m▼ 51.7%€0.08mwithin the sector's middle half▲ 175%€0.05mwithin the sector's middle half▼ 37.1%€0.07mabove the sector's middle half▲ 34.3%€0.05mabove the sector's middle half▼ 20.7%-€0.06mbelow the sector's middle half€0.02m
Equity€0.6m-€0.5mwithin the sector's middle half€0.4mwithin the sector's middle half▼ 15.6%€0.5mabove the sector's middle half▲ 15.5%€0.6mabove the sector's middle half▲ 10.6%€0.5mwithin the sector's middle half▼ 10.8%€0.5m▲ 3.6%
Total assets€2.2m-€0.9m▼ 60.3%€0.8mwithin the sector's middle half▼ 7.7%€0.7mbelow the sector's middle half▼ 15.0%€0.7mwithin the sector's middle half▼ 2.8%€1.4mabove the sector's middle half▲ 100%€0.6mbelow the sector's middle half▼ 54.6%€0.6m▲ 0.8%
Debt€1.6m-€0.3m▼ 82.8%€0.3m▲ 5.1%€0.3m▼ 13.8%€0.2m▼ 34.3%€0.8m▲ 373%€0.1m▼ 85.8%€0.1m▼ 11.6%
Working capital€0.6m-€0.6m▼ 0.8%€0.5mwithin the sector's middle half▼ 13.7%€0.4mwithin the sector's middle half▼ 15.6%€0.5mabove the sector's middle half▲ 16.1%€0.6mabove the sector's middle half▲ 10.9%€0.3mwithin the sector's middle half▼ 46.0%€0.3m▲ 2.0%
Solvency26.7%-63.8%above the sector's middle half63.3%above the sector's middle half▼ 0.5pp75.2%above the sector's middle half▲ 11.9pp41.5%within the sector's middle half▼ 33.7pp81.7%above the sector's middle half▲ 40.1pp83.9%▲ 2.3pp
Current ratio1.38-3.22▲ 1.842.81within the sector's middle half▼ 0.412.78within the sector's middle half▼ 0.034.25above the sector's middle half▲ 1.471.73within the sector's middle half▼ 2.524.05above the sector's middle half▲ 2.324.14▲ 0.09
Return on assets (ROA)2.7%-3.3%▲ 0.6pp9.9%above the sector's middle half▲ 6.6pp7.3%above the sector's middle half▼ 2.6pp10.1%above the sector's middle half▲ 2.8pp4.0%within the sector's middle half▼ 6.1pp-9.9%below the sector's middle half▼ 13.9pp2.9%▲ 12.8pp
Staff (FTE)0within the sector's middle half0
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 2026 is a profit of €47,971, after a loss of €58,265 in 2025.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €621,985
Fixed assets
€207,662 =
Current assets
€414,323 ▲ 1.3%
Equity and liabilities €621,985
Equity
€521,910 ▲ 3.6%
Debt
€100,075 ▼ 11.6%
Debt's share of the balance-sheet total falls from 18.3% to 16.1%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
1.30▼
2025 · 3.38
Debt to equity
0.19▼
2025 · 0.22
ROE
3.5%▲
2025 · -12.1%
Debt ≤ 1 year
€100,055▼
2025 · €101,045
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €25,000 | €25,000 | - | - |
| Mortgage mandates | - | €730,000 | €730,000 | - | - |
| Carrying value of the mortgaged assets | - | €342,098 | €1.1m | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | €202,662 | €0 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | €923 | - | €868 | €868 | €496 | €596 | €609 | ▲ 2.1% |
| Non-recurring operating charges66A | - | - | - | - | - | €2,000 | €9,190 | €114,922 | ▲ 13× |
| Gross operating margin9900 | €116,388 | €62,643 | €148,047 | €93,731 | €111,685 | €94,868 | -€48,479 | €163,501 | - |
| Operating profit (loss)9901 | €113,995 | €61,720 | €145,534 | €92,863 | €110,817 | €92,372 | -€58,265 | €47,971 | - |
| Financial income75/76B | - | €14,822 | - | €6 | €0 | €7,021 | €7 | €13,501 | ▲ 1,827× |
| Recurring financial income75 | €21,435 | €14,822 | €221 | €6 | €0 | €7,021 | €7 | €13,501 | ▲ 1,827× |
| Financial charges65/66B | - | €19,835 | - | €18,067 | €10,413 | €17,991 | €2,915 | €43,244 | ▲ 15× |
| Recurring financial charges65 | €39,374 | €19,835 | €18,475 | €18,067 | €10,413 | €17,991 | €2,915 | €43,244 | ▲ 15× |
| Profit (loss) for the period before taxes9903 | €96,056 | €56,707 | €127,280 | €74,802 | €100,405 | €81,401 | -€61,172 | €18,227 | - |
| Income taxes67/77 | €35,104 | €27,264 | €46,216 | €23,853 | €31,972 | €27,149 | €0 | - | - |
| Profit (loss) for the period9904 | €60,952 | €29,443 | €81,064 | €50,949 | €68,432 | €54,252 | -€61,172 | €18,227 | - |
| Transfer from tax-exempt reserves789 | - | €77,500 | - | - | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €60,952 | €106,943 | €143,064 | €50,949 | €68,432 | €54,252 | -€61,172 | €18,227 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.2m | €0.9m | €0.8m | €0.7m | €0.7m | €1.4m | €0.6m | €0.6m | ▲ 0.8% |
| Fixed assets21/28 | €0.006m | €0.006m | €0.006m | €0.006m | €0.005m | €0.005m | €0.2m | €0.2m | = |
| Financial fixed assets28 | €0.006m | €0.006m | €0.006m | €0.006m | €0.005m | €0.005m | €0.2m | €0.2m | = |
| Current assets29/58 | €2.2m | €0.9m | €0.8m | €0.7m | €0.7m | €1.4m | €0.4m | €0.4m | ▲ 1.3% |
| Stocks and contracts in progress3 | €0.7m | €0.5m | €0.2m | €0.08m | €0.2m | €1.1m | €0.07m | €0.3m | ▲ 319% |
| Stocks30/36 | - | €0.5m | - | €0.08m | €0 | - | - | - | - |
| Contracts in progress37 | - | - | - | - | €0.2m | €1.1m | €0.07m | €0.3m | ▲ 319% |
| Amounts receivable within one year40/41 | €0.05m | €0.02m | €0.07m | €0.07m | €0.03m | €0.03m | €0.02m | €0.003m | ▼ 82.8% |
| Trade receivables40 | - | €0.001m | - | €0.07m | €0.01m | €0.006m | €0.002m | €0.002m | ▼ 8.6% |
| Other amounts receivable41 | - | €0.02m | - | €0.002m | €0.02m | €0.03m | €0.02m | €0.002m | ▼ 91.0% |
| Cash at bank and in hand54/58 | €0.6m | €0.3m | €0.5m | €0.5m | €0.4m | €0.2m | €0.3m | €0.1m | ▼ 55.0% |
| Deferred charges and accrued income490/1 | - | €0.05m | - | €0.02m | €0.02m | €0.03m | €0.04m | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.2m | €0.9m | €0.8m | €0.7m | €0.7m | €1.4m | €0.6m | €0.6m | ▲ 0.8% |
| Equity10/15 | €0.6m | - | €0.5m | €0.4m | €0.5m | €0.6m | €0.5m | €0.5m | ▲ 3.6% |
| Contributions10/11 | €0.03m | €0.03m | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves13 | €0.6m | €0.6m | €0.5m | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Non-distributable reserves130/1 | - | €0.003m | - | €0.003m | €0.003m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €0.003m | - | - | - | - | - | - | - |
| Own shares acquired1312 | - | - | - | €0.003m | €0.003m | €0 | - | - | - |
| Tax-exempt reserves132 | - | €0.06m | - | - | - | - | - | - | - |
| Distributable reserves133 | - | €0.5m | - | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Profit (loss) carried forward14 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | -€0.02m | €0.002m | - |
| Amounts payable17/49 | €1.6m | €0.3m | €0.3m | €0.3m | €0.2m | €0.8m | €0.1m | €0.1m | ▼ 11.6% |
| Amounts payable within one year42/48 | €1.6m | €0.3m | €0.3m | €0.2m | €0.2m | €0.8m | €0.1m | €0.1m | ▼ 1.0% |
| Financial debts43 | - | €0.1m | - | - | €0.2m | €0.8m | €0 | - | - |
| Credit institutions430/8 | - | €0.1m | - | - | €0.2m | €0.8m | €0 | - | - |
| Trade debts44 | €0.1m | €0.001m | - | - | €0.002m | €474 | €0.001m | €55 | ▼ 94.7% |
| Suppliers440/4 | - | €0.001m | - | - | €0.002m | €474 | €0.001m | €55 | ▼ 94.7% |
| Advances received on contracts in progress46 | - | €0.1m | - | €0.1m | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €0.01m | - | €0.005m | €0.007m | €0.03m | €0 | - | - |
| Taxes450/3 | - | €0.01m | - | €0.005m | €0.007m | €0.03m | €0 | - | - |
| Other amounts payable47/48 | - | €0.02m | - | €0.1m | €0 | - | €0.1m | €0.1m | = |
| Accrued charges and deferred income492/3 | - | €0.008m | - | €0.007m | €0.01m | €0.01m | €0.01m | €19 | ▼ 99.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €60,952 | €29,443 | €81,064 | €50,949 | €68,432 | €54,252 | -€61,172 | €18,227 | - |
| Operating cash flow (approximation) | €60,952 | €29,443 | €81,064 | €50,949 | €68,432 | €54,252 | -€61,172 | €18,227 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €500 | €0 | -€202,662 | €0 | - |
| Change in cash | - | -€280,287 | €215,247 | €40,917 | -€123,757 | -€229,118 | €108,680 | -€155,327 | - |
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, 14,766 companies had the same profile as B & S CONSTRUCT has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of B & S CONSTRUCT itself: < 0.1% 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 14,766 companies, not a prediction for B & S 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 29-10-2026 | 2026-00597457 | |
| 31-03-2025 | full format | 30-09-2025 | 2025-00523489 | |
| 31-03-2024 | micro format | 24-10-2024 | 2024-00513542 | |
| 31-03-2023 | micro format | 26-10-2023 | 2023-00494943 | |
| 31-03-2022 | full format | 28-10-2022 | 2022-20476564 | |
| 31-03-2021 | full format | 28-10-2021 | 2021-74000063 | |
| 31-03-2020 | full format | 18-11-2020 | 2020-71200284 | |
| 31-03-2019 | full format | 21-10-2019 | 2019-71000216 | |
| 31-03-2018 | full format | 12-10-2018 | 2018-69200413 | |
| 31-03-2017 | full format | 18-09-2017 | 2017-61200453 |