Checked.be
Active
BE 0473.522.425Private limited company
BARCO CONSTRUCT
Vossenstraat 136 ·9090 Merelbeke-Melle, Belgium· 25 yrs active
Sector: Joinery installation
(43320)
Conclusion
BARCO CONSTRUCT has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200k and a net result of €20k. Equity is growing by ~13.8% per year across the filed fiscal years. Its solvency ranks better than 24% of 26784 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €200k |
| Net result | €20k |
| Better than sector | 24% |
| Active | 25 yrs |
Financial profile
57
/ 100
Mixed profile: strong on stability, weaker on solvency.
All 5 axes are computed from data Checked has read.
Health
56
Profitability
50
Solvency
27
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2000, 25 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
56
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€11k
estimate, not credit advice
Score history
60
2021
56
2022
48
2023
41
2024
56
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.73 (< 1.0)
-10
Leverage
Debt/equity 3.31 (> 3.0)
-10
Profitability
ROE 10% (≥ 10%)
+10
Interest coverage
Interest coverage 7.8× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 31-10-2025 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~13.8%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 23.2% | 47.4% | |
| Net result | €20k | €10k | |
| Equity | €200k | €60k | |
| Gross operating margin | €135k | €39k | |
| Total assets | €864k | €141k |
€128k
+14.6%
21-25
€20k
+65.5%
21-25
€105k
+16.5%
21-25
€864k
-10.7%
21-25
€200k
+11.2%
21-25
€-37k
-176.3%
21-25
€7k
+97.1%
21-25
€663k
-15.7%
21-25
€135k
-24.0%
21-25
€526k
-13.4%
21-25
0.73
-21.3%
21-25
0.64
-17.6%
21-25
23.2%
+24.5%
21-25
3.31
-24.2%
21-25
10.1%
+48.8%
21-25
2.3%
+85.3%
21-25
7.80
+28.3%
21-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | +14.6% | -9.4% | +1.8% | -7.7% | - |
| Net profit | +65.5% | -47.5% | -41.5% | +36.3% | - |
| Cash flow | +16.5% | -9.9% | +1.3% | +1.2% | - |
| Staff costs | - | - | - | - | - |
| Income taxes | +97.1% | +50.1% | -51.1% | -66.8% | - |
| Dividends | - | - | - | - | - |
| Total assets | -10.7% | -7.7% | -16.7% | +45.9% | - |
| Equity | +11.2% | +7.3% | +16.1% | +37.9% | - |
| Debt | -15.7% | -10.6% | -21.0% | +47.1% | - |
| of which ≤ 1y | -24.0% | -4.1% | -42.8% | +162.2% | - |
| of which > 1y | -13.4% | -12.5% | -11.9% | +24.4% | - |
| Working capital | -176.3% | -49.5% | -133.0% | - | - |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.73 | 0.93 | 0.95 | 0.99 | 1.33 |
| Quick ratio | 0.64 | 0.78 | 0.79 | 0.94 | 1.20 |
| Working capital ratio | -4.3% | -1.4% | -0.8% | -0.3% | 4.7% |
| Solvency | 23.2% | 18.6% | 16.0% | 11.5% | 12.2% |
| Debt / equity | 3.31 | 4.36 | 5.23 | 7.68 | 6.03 |
| Long-term debt ratio | 2.62 | 3.37 | 4.13 | 5.44 | 6.03 |
| Interest coverage | 7.80 | 6.08 | 5.87 | 6.90 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 2.3% | 1.3% | 2.2% | 3.2% | 3.4% |
| ROE | 10.1% | 6.8% | 13.8% | 27.5% | 27.8% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €864k | €967k | €1.05M | €1.26M | €861k |
| Fixed assets | 21/28 | €765k | €802k | €871k | €938k | €697k |
| Tangible fixed assets | 22/27 | €765k | €802k | €871k | €938k | €697k |
| Current assets | 29/58 | €98k | €164k | €176k | €319k | €164k |
| Stocks & contracts in progress | 3 | €11k | €25k | €30k | €16k | €16k |
| Amounts receivable within one year | 40/41 | €20k | €3k | €53k | €65k | €17k |
| Cash & bank | 54/58 | €64k | €135k | €93k | €233k | €129k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €864k | €967k | €1.05M | €1.26M | €861k |
| Equity | 10/15 | €200k | €180k | €168k | €145k | €105k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | - |
| Reserves | 13 | €182k | €162k | €149k | €126k | €86k |
| Amounts payable | 17/49 | €663k | €786k | €879k | €1.11M | €756k |
| Amounts payable after one year | 17 | €526k | €608k | €694k | €788k | €633k |
| Amounts payable within one year | 42/48 | €135k | €178k | €185k | €323k | €123k |
| Trade debts payable within one year | 44 | €16k | €59k | €60k | €221k | €28k |
| Income statement | ||||||
| Gross operating margin | 9900 | €135k | €117k | €129k | €126k | €136k |
| Operating result | 9901 | €43k | €34k | €47k | €62k | €63k |
| Financial income | 75 | €498 | €423 | €140 | €82 | €81 |
| Financial charges | 65 | €16k | €18k | €21k | €18k | €19k |
| Result before taxes | 9903 | €27k | €16k | €26k | €45k | €44k |
| Income taxes | 67/77 | €7k | €4k | €2k | €5k | €15k |
| Net result for the period | 9904 | €20k | €12k | €23k | €40k | €29k |
| Result to be appropriated | 9905 | €20k | €12k | €23k | €44k | €29k |
Directors & mandates
Current directors & mandates
-
CONVENT BartDirectorState Gazette act 23460292 (18-12-2023)Current18-12-2023 → present
Legal Structure
| NACE primary | Joinery installation(43320) |
| Legal form | Private limited company(610) |
| Incorporation | 13-12-2000 |
| Status | Active |
| Postal code | 9090 |
Establishment units
BARCO CONSTRUCT
since 20002.101.129.272
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44040C0289/00D000 | Flanders | 1,996 m² | 1 · 123 m² | 9.7 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Equity above €200kEq €200k ▲11.2%
5 profitable years in a row build equity to €200k.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Weakest financial yearnet €12k ▼47.5%
Net result drops to €12k, the lowest in the series; recovery starts the following year.
2023
18-12
State Gazette act
Statutes amendment
v3.2
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Equity above €150kEq €168k ▲16.1%
3 profitable years in a row build equity to €168k.
2022
08-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 8 days late
31-03
Financial
Highest result since 2021net €40k ▲36.3%
Net result €40k, the highest in the series.
2021
13-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
16-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 2 years ago
2023
18-12-2023 Articles of association amended
Summary:
v3.2
Technical details
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"extractor": "qwen3-30b-a3b"
},
"name_change": {
"new": "",
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"changed": false
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"seat_change": {
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},
"object_change": {
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},
"subject_company": {
"kbo": "0473.522.425",
"name_full": "BARCO CONSTRUCT"
},
"legal_form_change": {
"new": "Besloten vennootschap",
"old": "Besloten vennootschap met beperkte aansprakelijkheid",
"changed": false
}
}Credit advice
Company registry (CBE)
Activities
Joinery installation4332045422Manufacture of metal structures and parts of structures2511028110
Names & trade names
| Legal nameNL | BARCO CONSTRUCT |
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