BAI CONSTRUCTION
Open bankruptcyA bankruptcy procedure is open for BAI CONSTRUCTION according to publications in the Belgian State Gazette; curator: MAXINE BAIVIER.
Summary
The file additionally contains 1 administrative flag. The 2024 annual accounts show negative equity (€-133k) and a net result of €-155k.
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year €-133k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
30 d late
2022
61 d late
2021
on the day
2020
on the day
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Financials · fiscal year 2024, micro schema
Equity
€-133k
2023 · €22k
2020: €25k
2021: €32k▲ +28.2% vs 2020
2022: €38k▲ +16.7% vs 2021highest in 5 years
2023: €22k▼ -41.9% vs 2022
2024: €-133k▼ -710% vs 2023lowest in 5 years
2020 → 2024
Total assets
€162k▼ 3.5%
2023 · €168k
2020: €107klowest in 5 years
2021: €107k▲ +0.3% vs 2020
2022: €157k▲ +46.6% vs 2021
2023: €168k▲ +7.0% vs 2022highest in 5 years
2024: €162k▼ -3.5% vs 2023
2020 → 2024
Net result
€-155k▼ 884%
2023 · €-16k
2020: €15khighest in 5 years
2021: €7k▼ -53.3% vs 2020
2022: €5k▼ -24.2% vs 2021
2023: €-16k▼ -393% vs 2022
2024: €-155k▼ -884% vs 2023lowest in 5 years
2020 → 2024
Working capital
€-4k
2023 · €22k
2020: €17k
2021: €10k▼ -42.3% vs 2020
2022: €34k▲ +259% vs 2021highest in 5 years
2023: €22k▼ -36.0% vs 2022
2024: €-4k▼ -120% vs 2023lowest in 5 years
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€25k-€32k▲ 28.2%€38k▲ 16.7%€22k▼ 41.9%€-133k
2020: €25k
2021: €32k▲ +28.2% vs 2020
2022: €38k▲ +16.7% vs 2021highest in 5 years
2023: €22k▼ -41.9% vs 2022
2024: €-133k▼ -710% vs 2023lowest in 5 years
Operating result€20k-€10k▼ 48.2%€12k▲ 19.7%€-12k€-148k▼ 1,107%
2020: €20khighest in 5 years
2021: €10k▼ -48.2% vs 2020
2022: €12k▲ +19.7% vs 2021
2023: €-12k▼ -198% vs 2022
2024: €-148k▼ -1107% vs 2023lowest in 5 years
Net result€15k-€7k▼ 53.3%€5k▼ 24.2%€-16k€-155k▼ 884%
2020: €15khighest in 5 years
2021: €7k▼ -53.3% vs 2020
2022: €5k▼ -24.2% vs 2021
2023: €-16k▼ -393% vs 2022
2024: €-155k▼ -884% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €148k in 2024 against €12k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €162k
Fixed assets
€10k ▼ 38.9%
Current assets
€152k ▲ 0.2%
Key figures and ratios
EBITDA
€-142k▼
2023 · €-6k
Cash flow
€-149k▼
2023 · €-9k
Solvency
-82.2%▼
2023 · 13.0%
Current ratio
0.97▼
2023 · 1.17
Quick ratio
0.44▲
2023 · 0.21
Debt to equity
-1.69▼
2023 · 6.68
ROA
-95.7%▼
2023 · -9.4%
Interest coverage
-19.93▼
2023 · -1.84
Debt
€226k▲
2023 · €146k
Debt ≤ 1 year
€157k▲
2023 · €130k
Debt > 1 year
€69k▲
2023 · €16k
Income taxes
€235▼
2023 · €284
Staff costs
€45k▼
2023 · €123k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€168k€162k▼
Fixed assets21/28€16k€10k▼
Intangible fixed assets21€9k€6k▼
Tangible fixed assets22/27€7k€4k▼
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€2k€713▼
Current assets29/58€152k€152k▲
Stocks and contracts in progress3€125k€83k▼
Stocks30/36€125k€83k▼
Amounts receivable within one year40/41€26k€68k▲
Trade receivables40€23k€66k▲
Other amounts receivable41€2k€2k=
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€168k€162k▼
Equity10/15€22k€-133k▼
Contributions10/11€10k€10k=
Profit (loss) carried forward14€12k€-143k▼
Provisions and deferred taxes16-€70k
Provisions for liabilities and charges160/5-€70k
Environmental obligations163-€70k
Amounts payable17/49€146k€226k▲
Amounts payable after more than one year17€16k€69k▲
Financial debts170/4€16k€69k▲
Amounts payable within one year42/48€130k€157k▲
Current portion of amounts payable after more than one year42€6k€13k▲
Financial debts43€18k€25k▲
Credit institutions430/8€18k€25k▲
Trade debts44€25k€54k▲
Suppliers440/4€25k€54k▲
Taxes, remuneration and social security45€23k€53k▲
Taxes450/3€10k€20k▲
Remuneration and social security454/9€13k€33k▲
Other amounts payable47/48€58k€11k▼
Income statement
Code20232024
Remuneration, social security and pensions62€123k€45k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€6k▼
Other operating charges640/8€615€1k▲
Non-recurring operating charges66A-€70k
Gross operating margin9900€118k€-26k▼
Operating profit (loss)9901€-12k€-148k▼
Financial income75/76B€0€495▲
Recurring financial income75€0€495▲
Financial charges65/66B€3k€7k▲
Recurring financial charges65€3k€7k▲
Non-recurring financial charges66B€165-
Profit (loss) for the period before taxes9903€-15k€-155k▼
Income taxes67/77€284€235▼
Profit (loss) for the period9904€-16k€-155k▼
Profit (loss) for the period to be appropriated9905€-16k€-155k▼
Appropriation of the result
Profit (loss) to be appropriated9906€12k€-143k▼
Profit (loss) brought forward from the previous period14P€28k€12k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €51k | €123k | €45k | ▼ 63.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €3k | €7k | €7k | €6k | ▼ 7.5% |
| Other operating charges640/8 | - | €1k | €3k | €615 | €1k | ▲ 129% |
| Non-recurring operating charges66A | - | - | - | - | €70k | - |
| Gross operating margin9900 | €23k | €15k | €73k | €118k | €-26k | ▼ 122% |
| Operating profit (loss)9901 | €20k | €10k | €12k | €-12k | €-148k | ▼ 1,107% |
| Financial income75/76B | - | €97 | - | €0 | €495 | ▲ 247,500% |
| Recurring financial income75 | €24 | €97 | - | €0 | €495 | ▲ 247,500% |
| Financial charges65/66B | - | €-236 | €861 | €3k | €7k | ▲ 123% |
| Recurring financial charges65 | €405 | €-236 | €696 | €3k | €7k | ▲ 135% |
| Non-recurring financial charges66B | - | - | €165 | €165 | - | - |
| Profit (loss) for the period before taxes9903 | €20k | €11k | €12k | €-15k | €-155k | ▼ 901% |
| Income taxes67/77 | €5k | €4k | €6k | €284 | €235 | ▼ 17.2% |
| Profit (loss) for the period9904 | €15k | €7k | €5k | €-16k | €-155k | ▼ 884% |
| Profit (loss) for the period to be appropriated9905 | €15k | €7k | €5k | €-16k | €-155k | ▼ 884% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €107k | €107k | €157k | €168k | €162k | ▼ 3.5% |
| Fixed assets21/28 | €9k | €23k | €23k | €16k | €10k | ▼ 38.9% |
| Intangible fixed assets21 | - | €15k | €12k | €9k | €6k | ▼ 33.5% |
| Tangible fixed assets22/27 | €9k | €8k | €11k | €7k | €4k | ▼ 45.8% |
| Plant, machinery and equipment23 | - | €3k | €7k | €5k | €3k | ▼ 35.0% |
| Furniture and vehicles24 | - | €5k | €4k | €2k | €713 | ▼ 68.4% |
| Current assets29/58 | €98k | €84k | €134k | €152k | €152k | ▲ 0.2% |
| Stocks and contracts in progress3 | €1k | €33k | €90k | €125k | €83k | ▼ 33.6% |
| Stocks30/36 | - | €33k | €90k | €125k | €83k | ▼ 33.6% |
| Amounts receivable within one year40/41 | €58k | €30k | €40k | €26k | €68k | ▲ 167% |
| Trade receivables40 | - | €30k | €39k | €23k | €66k | ▲ 184% |
| Other amounts receivable41 | - | €481 | €962 | €2k | €2k | = |
| Cash at bank and in hand54/58 | €37k | €20k | €1k | - | - | - |
| Deferred charges and accrued income490/1 | - | €2k | €4k | €2k | €1k | ▼ 21.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €107k | €107k | €157k | €168k | €162k | ▼ 3.5% |
| Equity10/15 | €25k | €32k | €38k | €22k | €-133k | ▼ 710% |
| Contributions10/11 | - | €10k | €10k | €10k | €10k | = |
| Profit (loss) carried forward14 | €15k | €22k | €28k | €12k | €-143k | ▼ 1,307% |
| Provisions and deferred taxes16 | - | - | - | - | €70k | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €70k | - |
| Environmental obligations163 | - | - | - | - | €70k | - |
| Amounts payable17/49 | €82k | €75k | €119k | €146k | €226k | ▲ 54.4% |
| Amounts payable after more than one year17 | - | - | €19k | €16k | €69k | ▲ 327% |
| Financial debts170/4 | - | - | €19k | €16k | €69k | ▲ 327% |
| Amounts payable within one year42/48 | €82k | €75k | €100k | €130k | €157k | ▲ 20.5% |
| Current portion of amounts payable after more than one year42 | - | - | €6k | €6k | €13k | ▲ 108% |
| Financial debts43 | - | - | - | €18k | €25k | ▲ 37.7% |
| Credit institutions430/8 | - | - | - | €18k | €25k | ▲ 37.7% |
| Trade debts44 | €39k | €17k | €19k | €25k | €54k | ▲ 122% |
| Suppliers440/4 | - | €17k | €19k | €25k | €54k | ▲ 122% |
| Taxes, remuneration and social security45 | - | €18k | €12k | €23k | €53k | ▲ 132% |
| Taxes450/3 | - | €18k | €8k | €10k | €20k | ▲ 108% |
| Remuneration and social security454/9 | - | - | €4k | €13k | €33k | ▲ 151% |
| Other amounts payable47/48 | - | €40k | €63k | €58k | €11k | ▼ 81.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €7k | €5k | €-16k | €-155k | ▼ 884% |
| + Depreciation and write-downs630 | €3k | €3k | €7k | €7k | €6k | ▼ 7.5% |
| Operating cash flow (approximation) | €18k | €10k | €12k | €-9k | €-149k | ▼ 1,543% |
| Investment in fixed assets (approximation) | - | €-17k | €-7k | €0 | €0 | - |
| Change in cash | - | €-18k | €-19k | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
28-11
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 24-11-2025
24-11
KBO administration
Address struck
Hippokrateslaan 10 Die Sitzadresse Hippokrateslaan 10 1932
Zaventem · event 19-09-2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-155k
Net result drops to €-155k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Zaventem · 2 establishment units since 2020
Ground area
7,838 m²
Building footprint
609 m²
Volume, LiDAR
18,333 m³
2 parcels, Flanders, Wallonia · tallest building 41.9 m, ±13 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
2 establishment units
BAI CONSTRUCTION
since 20202.321.140.714
Establishment
since 20222.338.110.863
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23078C0183/00L000 | Flanders | 7,171 m² | 1 · 470 m² | 41.9 m · 13 fl. |
| 62100D1235/00F000 | Wallonia | 666 m² | 1 · 139 m² | 8.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MAXINE BAIVIER BOULEVARD DE LA SAUVE-
NIERE 117, 4000 LIEGE 1 |
24-11-2025 → present |
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 5,318 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.