Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
In July 2024, 6,920 companies had the same profile as BDW CONSTRUCT has now. Each dot stands for 18 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 6,920 companies, not a prediction for BDW 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| BDW CONSTRUCT Kortrijk | €11,830 | -€1,315 | -1760.0% | - |
| LG IMMOBILIER Jemeppe-sur-Sambre | €14,669 | €1,171 | -83.6% | - |
| Smart Car Mobility Kontich | €15,442 | -€13,969 | -228.5% | - |
| LACHAMBRE & ASSOCIES Lasne | €9,589 | -€15,630 | -2626.9% | - |
| CARROSSERIE DE LIERS Herstal | €10,615 | €1,256 | -202.1% | - |
| Celis Cars Transport & Care Waterloo | €3,775 | -€17,760 | -874.4% | - |
| Content Cars Dessel | €5,354 | €3,160 | -306.3% | - |
These companies have the same main activity as BDW CONSTRUCT: bodywork repair (including spraying and painting) (NACE 95314). They are comparable in size and age: total assets between €3,780 and €15,400, founded between 1990 and 2015.
BDW CONSTRUCT files the micro format. That format states no turnover. The gross margin fell from €47,841 in 2009 to -€1,315 in 2025.
The balance sheet grew most in 2018 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Lower than 95% of 3,033 companies in 2022.
Lower than 95% of 3,508 companies in 2025.
Lower than 95% of 3,535 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
11,830 | 17,954 | 19,580 | 29,761 | 55,328 | 89,099 | 215,763 | 223,632 | 78,371 | 103,583 | 112,503 | 117,674 | 125,460 | 124,664 | 152,264 | 200,116 | 217,176 | |
21/28 |
10,091 | 14,464 | 18,838 | 23,211 | 36,912 | 76,053 | 102,414 | 115,337 | 1,474 | 32,923 | 48,748 | 63,186 | 78,024 | 93,047 | 109,115 | 126,474 | 142,959 | |
21 |
- | - | - | 0 | 713 | 1,426 | 2,139 | 2,852 | - | - | - | - | - | - | - | - | - | |
22/27 |
10,091 | 14,464 | 18,838 | 23,211 | 36,199 | 74,507 | 100,155 | 112,365 | 1,474 | 32,923 | 48,748 | 63,186 | 78,024 | 93,047 | 109,115 | 126,474 | 142,959 | |
23 |
- | - | - | 0 | 8,615 | 42,549 | 63,824 | 85,099 | - | 24,512 | 39,421 | 52,114 | 64,140 | 78,609 | 92,091 | 106,395 | 119,270 | |
24 |
- | - | - | - | - | - | - | - | 1,474 | 2,962 | 1,066 | - | - | - | - | 470 | 1,494 | |
26 |
10,091 | 14,464 | 18,838 | 23,211 | 27,584 | 31,958 | 36,331 | 27,266 | - | 5,449 | 8,261 | 11,072 | 13,884 | 14,437 | 17,023 | 19,609 | 22,195 | |
28 |
- | - | - | - | 0 | 120 | 120 | 120 | - | - | - | - | - | - | - | - | - | |
29/58 |
1,739 | 3,490 | 742 | 6,550 | 18,416 | 13,046 | 113,348 | 108,295 | 76,897 | 70,661 | 63,755 | 54,488 | 47,436 | 31,617 | 43,149 | 73,642 | 74,217 | |
3 |
- | - | - | - | - | - | - | - | - | 853 | 676 | - | - | 548 | - | - | - | |
30/36 |
- | - | - | - | - | - | - | - | - | 853 | 676 | - | - | 548 | - | - | - | |
40/41 |
566 | 74 | 200 | 6,525 | 0 | 7,058 | 100,800 | 106,416 | 64,681 | 50,141 | 36,907 | 38,247 | 37,239 | 22,553 | 26,380 | 45,427 | 44,833 | |
40 |
350 | - | 0 | 6,525 | 0 | 4,967 | 99,936 | 82,860 | 42,831 | 43,276 | 36,857 | 33,095 | 32,457 | 22,502 | 26,328 | 45,372 | 29,325 | |
41 |
216 | 74 | 200 | - | 0 | 2,092 | 864 | 23,556 | 21,850 | 6,865 | 50 | 5,151 | 4,782 | 51 | 52 | 56 | 15,508 | |
54/58 |
1,172 | 3,416 | 542 | 25 | 18,416 | 5,988 | 11,515 | 888 | 12,216 | 13,305 | 19,112 | 14,204 | 9,632 | 8,517 | 16,770 | 28,214 | 28,816 | |
490/1 |
- | - | - | - | - | - | 1,032 | 992 | - | 6,362 | 7,060 | 2,038 | 565 | - | - | - | 567 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
11,830 | 17,954 | 19,580 | 29,761 | 55,328 | 89,099 | 215,763 | 223,632 | 78,371 | 103,583 | 112,503 | 117,674 | 125,460 | 124,664 | 152,264 | 200,116 | 217,176 | |
10/15 |
-208,202 | -201,824 | -198,303 | -206,373 | -204,509 | -199,041 | -136,949 | -167,901 | -18,617 | 9,590 | 1,174 | -22,114 | -9,192 | -16,101 | 508 | 11,485 | 10,434 | |
10/11 |
39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | |
100 |
- | - | - | - | - | - | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 | |
14 |
-247,202 | -240,824 | -237,303 | -245,373 | -243,509 | -238,041 | -175,949 | -206,901 | -57,617 | -29,410 | -37,826 | -61,114 | -48,192 | -55,101 | -38,492 | -27,515 | -28,566 | |
17/49 |
220,032 | 219,778 | 217,883 | 236,134 | 259,837 | 288,140 | 352,712 | 391,533 | 96,988 | 93,994 | 111,329 | 139,789 | 134,652 | 140,765 | 151,756 | 188,631 | 206,742 | |
17 |
- | - | 0 | 5,165 | 25,650 | 45,853 | 55,854 | 75,642 | - | - | - | - | - | - | 26,716 | 52,000 | 75,927 | |
170/4 |
- | - | 0 | 5,165 | 25,650 | 45,853 | 55,854 | 75,642 | - | - | - | - | - | - | 26,716 | 52,000 | 75,927 | |
42/48 |
220,032 | 219,778 | 216,879 | 230,123 | 234,187 | 242,287 | 296,858 | 315,891 | 96,988 | 83,608 | 106,197 | 139,789 | 134,652 | 140,765 | 125,039 | 136,631 | 130,815 | |
42 |
- | 0 | 5,165 | 20,484 | 20,204 | 19,927 | 19,788 | 19,519 | - | - | - | - | - | 26,716 | 25,283 | 23,927 | 22,644 | |
43 |
- | 0 | 1 | 69 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
430/8 |
- | 0 | 1 | 69 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
44 |
2,524 | 2,113 | 705 | 4,572 | 754 | 2,384 | 18,216 | 140,552 | 43,692 | 10,195 | 7,929 | 22,583 | 10,250 | 7,715 | 9,505 | 16,528 | 27,171 | |
440/4 |
2,524 | 2,113 | 705 | 4,572 | 754 | 2,384 | 18,216 | 140,552 | 43,692 | 10,195 | 7,929 | 22,583 | 10,250 | 7,715 | 9,505 | 16,528 | 27,171 | |
45 |
0 | 157 | 0 | 1,489 | 4,322 | 2,625 | 43,567 | 16,490 | 2,440 | 10,537 | 15,051 | 7,736 | 14,882 | 11,724 | 8,651 | 14,576 | - | |
450/3 |
0 | 157 | 0 | 1,489 | 4,322 | - | 21,099 | 1,913 | 1,023 | 7,757 | 7,049 | 2,321 | 5,083 | 5,647 | 5,030 | 7,396 | - | |
454/9 |
- | - | - | - | 0 | 2,625 | 22,468 | 14,577 | 1,418 | 2,780 | 8,002 | 5,415 | 9,800 | 6,076 | 3,622 | 7,180 | - | |
47/48 |
217,508 | 217,508 | 211,008 | 203,508 | 208,908 | 217,351 | 215,287 | 139,330 | 50,855 | 62,876 | 83,217 | 109,469 | 109,520 | 94,610 | 81,600 | 81,600 | 81,000 | |
492/3 |
- | 0 | 1,004 | 845 | - | - | - | - | - | 10,386 | 5,131 | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||
76A |
350 | 0 | 7,500 | 0 | 6,445 | 1,442 | - | - | 9,155 | - | - | - | - | - | - | - | - | |
9900 |
-1,315 | 1,738 | 13,895 | 13,192 | 25,522 | -9,477 | 165,042 | -48,281 | 58,980 | 143,277 | 134,767 | 92,956 | 96,836 | 70,500 | 59,807 | 73,452 | 47,841 | |
62 |
- | - | - | - | 0 | 25,275 | 103,434 | 67,459 | 78,557 | 105,299 | 82,631 | 82,940 | 62,444 | 63,441 | 40,570 | 40,138 | 39,829 | |
630 |
4,373 | 4,373 | 4,373 | 12,938 | 22,966 | 26,361 | 26,361 | 26,232 | 1,877 | 19,468 | 18,455 | 17,489 | 17,281 | 17,324 | 17,359 | 18,185 | 24,926 | |
640/8 |
528 | 513 | 603 | 460 | 459 | 457 | 780 | 9,004 | 6,316 | 12,042 | 10,103 | 4,840 | 8,753 | 5,696 | 8,482 | 8,253 | 4,193 | |
66A |
- | - | 0 | 764 | - | - | - | 259 | - | - | - | - | - | - | - | 269 | - | |
9901 |
-6,216 | -3,149 | 8,918 | -969 | 2,098 | -61,570 | 34,467 | -151,236 | -27,771 | 6,468 | 23,579 | -12,313 | 8,358 | -15,961 | -6,604 | 6,875 | -21,107 | |
75/76B |
- | 0 | 120 | - | 0 | 2,089 | - | 3,155 | 31 | 3,532 | 78 | 575 | 36 | 2,400 | 78 | 268 | 393 | |
75 |
- | 0 | 120 | - | 0 | 2,089 | - | 3,155 | 31 | 3,532 | 78 | 575 | 36 | 2,400 | 78 | 268 | 393 | |
65/66B |
162 | 372 | 969 | 896 | 7,565 | 2,611 | 3,516 | 1,203 | 466 | 1,584 | 369 | 1,185 | 1,484 | 3,048 | 4,450 | 5,824 | 7,852 | |
65 |
162 | 372 | 969 | 896 | 7,565 | 2,611 | 3,516 | 1,203 | 466 | 1,584 | 369 | 1,185 | 1,484 | 3,048 | 4,450 | 5,824 | 7,852 | |
9903 |
-6,378 | -3,521 | 8,070 | -1,864 | -5,468 | -62,092 | 30,952 | -149,284 | -28,207 | 8,416 | 23,288 | -12,923 | 6,909 | -16,609 | -10,976 | 1,051 | -28,566 | |
9904 |
-6,378 | -3,521 | 8,070 | -1,864 | -5,468 | -62,092 | 30,952 | -149,284 | -28,207 | 8,416 | 23,288 | -12,923 | 6,909 | -16,609 | -10,976 | 1,051 | -28,566 | |
9905 |
-6,378 | -3,521 | 8,070 | -1,864 | -5,468 | -62,092 | 30,952 | -149,284 | -28,207 | 8,416 | 23,288 | -12,923 | 6,909 | -16,609 | -10,976 | 1,051 | -28,566 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
-247,202 | -240,824 | -237,303 | -245,373 | -243,509 | -238,041 | -175,949 | -206,901 | -57,617 | -29,410 | -37,826 | -61,114 | -48,192 | -55,101 | -38,492 | -27,515 | -28,566 | |
14P |
-240,824 | -237,303 | -245,373 | -243,509 | -238,041 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||||||
9087 |
- | 0 | 0 | - | - | 0.7 | 2.4 | 1.8 | 2 | 3.3 | 2.5 | 2.5 | 2 | 1.8 | 1.2 | 1.2 | 1 | |
Hours worked1013 |
- | - | - | - | - | 1,281 | 4,232 | 2,846 | 3,490 | 5,606 | 3,931 | 4,101 | 2,747 | 2,950 | 2,030 | 2,128 | 2,438 | |
| Document | ||||||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 23-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-07-2026 | 2026-00345117 | |
| 31-12-2024 | abbreviated format | 18-08-2025 | 2025-00383178 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00329341 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00193080 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20376314 | |
| 31-12-2020 | micro format | 07-06-2021 | 2021-18800557 | |
| 31-12-2019 | micro format | 10-06-2020 | 2020-15800194 | |
| 31-12-2018 | micro format | 23-07-2019 | 2019-36900573 | |
| 31-12-2017 | micro format | 26-09-2018 | 2018-64500094 | |
| 31-12-2016 | micro format | 21-08-2017 | 2017-44500270 | |
| 31-12-2015 | abbreviated format | 12-08-2016 | 2016-41800490 | |
| 31-12-2014 | abbreviated format | 28-08-2015 | 2015-48600036 | |
| 31-12-2013 | abbreviated format | 27-08-2014 | 2014-47100187 | |
| 31-12-2012 | abbreviated format | 25-07-2013 | 2013-34600521 | |
| 31-12-2011 | abbreviated format | 28-09-2012 | 2012-57800125 | |
| 31-12-2010 | abbreviated format | 29-08-2011 | 2011-44800182 | |
| 31-12-2009 | abbreviated format | 31-08-2010 | 2010-47900116 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -1,843 | 1,224 | 13,292 | 11,969 | 25,064 | -35,209 | 60,828 | -125,004 | -25,894 | 25,936 | 42,033 | 5,175 | 25,638 | 1,363 | 10,755 | 25,060 | 3,819 | ||
| -2,005 | 852 | 12,443 | 11,074 | 17,499 | -35,731 | 57,313 | -123,052 | -26,329 | 27,884 | 41,743 | 4,566 | 24,190 | 715 | 6,383 | 19,236 | -3,640 | ||
| 0 | 0 | 0 | -764 | -16,175 | 0 | 13,439 | 140,354 | 389 | 3,644 | 4,017 | 2,650 | 2,258 | 1,256 | 0 | 1,700 | 167,885 | ||
| -2,243 | 2,874 | 517 | -18,391 | 12,428 | -5,528 | 10,628 | -11,328 | -1,089 | -5,807 | 4,908 | 4,572 | 1,115 | -8,253 | -11,445 | -602 | - | ||
| -218,293 | -216,288 | -216,137 | -223,573 | -215,771 | -229,241 | -183,509 | -207,596 | -20,091 | -12,948 | -42,442 | -85,300 | -87,216 | -109,148 | -81,890 | -62,990 | -56,598 | ||
| - | - | - | -693.4% | -369.6% | -223.4% | -63.5% | -75.1% | -23.8% | 9.3% | 1.0% | -18.8% | -7.3% | -12.9% | 0.3% | 5.7% | 4.8% | ||
| 0.01 | 0.02 | 0.00 | 0.03 | 0.08 | 0.05 | 0.38 | 0.34 | 0.79 | 0.85 | 0.60 | 0.39 | 0.35 | 0.22 | 0.35 | 0.54 | 0.57 | ||
| 0.01 | 0.02 | 0.00 | 0.03 | 0.08 | 0.05 | 0.38 | 0.34 | 0.79 | 0.83 | 0.59 | 0.39 | 0.35 | 0.22 | 0.35 | 0.54 | 0.57 | ||
| - | - | - | - | - | - | - | - | - | 9.80 | 94.83 | - | - | - | - | 16.42 | 19.81 | ||
| - | - | - | - | - | - | - | - | - | 87.8% | - | - | - | - | - | 9.1% | -273.8% | ||
| -53.9% | -19.6% | 41.2% | -6.3% | -9.9% | -69.7% | 14.3% | -66.8% | -36.0% | 8.1% | 20.7% | -11.0% | 5.5% | -13.3% | -7.2% | 0.5% | -13.2% | ||
| -11.37 | 3.29 | 13.72 | 13.37 | 3.31 | - | - | - | - | - | - | - | - | - | - | - | - |
A ratio outside any meaningful range has been withheld (balance sheet total €11,830, equity -€208,202).
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Carrying value of the other pledged assets | - | - | - | - | €100,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
The operating result for 2025 is a loss of €6,216, larger than the loss of €3,149 in 2024. It is the lowest result since 2020.
Equity is negative. Debt (€220,032) exceeds the balance-sheet total (€11,830).
BDW CONSTRUCT has no parent and no holdings in its annual accounts. is the only director.
via , at BDW CONSTRUCT, last mentioned in 2019 · Manager · deed of 20-02-2019 founded in 2017 |
total assets €1.2m (2025) |
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| AQUA VITE TRUCK CLEANING registered office Kalvariestraat 4, 8510 Kortrijk 47300 Retail sale of automotive fuel | 27-08-2008 | 2.172.619.460 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34026B0046/00L002 | 1.3 ha | 1 · 694 m² | 10.8 m |
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