Equity
€8.2m from €15.3m in 2017
Equity fell by 46% in 8 years.
GROUP A
Lifetime
20 annual accounts with figures on one time axis, 49 filings since 1977peak €87.6m (2016)
€79.7m▼ 5.4%
lowest -€4.0m (2020)
€4.0m▲ 133%
peak €15.3m (2017)
€8.2m▲ 23.8%
€19.7m▼ 17.1%
peak 34 FTE (2025)
34 FTE▲ 0.9%
Board17 names since 2018all names
6 directorsLumia and 5 others
Owners8 names in the annual accountsall names
75%Ravot and 1 other
Documentsfilings and deeds
17-07-202614 days before the deadline
2025financial year
Result from €1.7m to €4.0mReappointment: BDO Bedrijfsrevisoren Burg.Ven.CVBA (statutory… 23-04Dividend €2.4mEquity from €6.6m to €8.2mDebts from €23.8m to €19.7mCash from €728,956 to €952,429
Key points
from the 2025 annual accountsResult
€4.0m ▲ 133%
The result rose in 2025 from €1.7m to €4.0m.
Staff
35 employees on 31-12-2025
In 2025, 4 people joined and 5 left.
Payment terms
32 days to suppliers
GROUP A pays its suppliers 13 days earlier than in 2024. Customers pay 5 days earlier.
Subsidiaries
-€1.6m
Subsidiary with negative equity. BELIRHEA in vereffening · loss of €4,241 in 2025 · 4 other subsidiaries too.
Position in the sector
€4.0m
Higher net result than 95% of companies in construction of buildings. Sector median €32,165 · 1,040 companies.
Standalone figures, without subsidiaries
Group, consolidated 2025: turnover €115.3m, result €1.8m
Checked score
86
Excellent
Financially stronger than 48% of small companies in construction of buildings (NACE 41)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 911 companies (NACE 41, small).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.5%▲ +0.1 percentage points vs 06-2025
08-2025: 0.6%▲ +0.1 percentage points vs 07-2025
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.6%● unchanged vs 09-2025
11-2025: 0.6%● unchanged vs 10-2025
12-2025: 0.6%● unchanged vs 11-2025
01-2026: 0.6%● unchanged vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026highest value
08-2026: 0.3%▼ -0.3 percentage points vs 07-2026lowest value
09-2026: 0.3%● unchanged vs 08-2026lowest value
10-2026: 0.3%● unchanged vs 09-2026lowest value
11-2026: 0.3%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 1.13, cash €952,429
Sector: Construction of residential and non-residential buildings (NACE 41)
lowers risk
Founded in 1977
Size: turnover €79.7m, 34 FTE, total assets €28.3m, files consolidated accounts
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, small). It does better than 46% of them on solvency, 30% on liquidity, 57% on profitability and 61% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,613 companies had the same profile as GROUP A has now. Each dot stands for 7 companies, two years later.
97.3%
were still trading
2.0%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of GROUP A itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,448 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 2,613 companies, not a prediction for GROUP A. 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.
Credit verdict
Credit of up to €700,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.13 (1.05 in 2024), below the usual 1.5. Short-term debt is 52.2% and cash 3.4% of total assets. 71% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €8.2m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
14 days early
2024
28 days early
2023
27 days early
2022
28 days early
2021
29 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 14 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 5 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
and 1 other
- Ravot 75%equity €8.3m (2025) · 2025 annual accounts of Ravot
- Tovar 25%score 93equity €3.5m (2025) · 2025 annual accounts of Tovar
Shares in 10 companies, including GROUP A BV and RAMATE INVEST
Board & ownershipRecent changes
Appointments: Carecom BV (director) and MDC BV (director)
General meeting of 25-09-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0417514724
Reappointment: BDO Bedrijfsrevisoren Burg.Ven.CVBA (statutory auditor)
Permanent representative: Michaël Delbeke · General meeting of 29-01-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GROUP A Hasselt | €79.7m | 1.8% | 29.0% | 34 |
| UNICAS Pajottegem | €36.3m | 0.0% | 28.9% | 31.2 |
| VAN LOO PROJECTS Hulshout | €44.7m | 3.6% | 33.1% | 39.3 |
| SOTRABA Seneffe | €32.9m | 0.8% | 13.4% | 48.7 |
| GILLEMAN Oudenaarde | €35.4m | 1.3% | 16.6% | 30.2 |
| Algemene Ondernemingen Van Tornhaut Aalter | €55.8m | 10.9% | 52.8% | 68 |
| Schoofs Tongeren-Borgloon | €33.5m | 11.4% | 28.9% | 45.1 |
Grey: the largest companies of the sector (construction of buildings (NACE 41)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as GROUP A: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €16m and €30m, founded between 1971 and 1991.
Official details
Source: KBO- Status
- Active since 12-08-1977Normal situation
- Registered office
- 11 active companies are registered at this addressSource: KBO register, as of 11 November 2026.
- Activity
- General construction of residential buildingsNACE 41001and 5 others
- Joint committee
- 126Furnishing and woodworking · annual accounts 2025
- Establishment unit
- 2.013.971.9033500 Hasselt, since 01-05-1979
- Financial year end
- 31 December
- Peppol
- Reachable since 11-12-2025
Annual accounts 2025
- €28.3m▼ 8.2%
- Employeeson 31-12-2025
- 35▼ 2.8%
- Filing
- Filed on 17-07-2026, 14 days before the end of the filing period
Companies linked to GROUP A
Subsidiaries and holdings
- BELICHA99.9%
- BELISOL HASSELT99.9%
- BELIDEA99.33%
- BELILIEGE99.33%
- BELIRHEA in vereffening99.33%
- Windocare99%
- Vitrea50%
- Belicraft49%
Insights on GROUP A
GROUP A has existed since 1977. In 2016 turnover rose from €8.5m to €87.6m.
Solvency rose in 2025 from 21.5% to 29.0% because of lower debts.
Ravot holds 75% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about GROUP A
- What is the company number of GROUP A?
- The company number of GROUP A is 0417.514.724. The VAT number is the same number with BE in front: BE 0417.514.724.
- Where is GROUP A based?
- The registered office is at Luikersteenweg 254, 3500 Hasselt.Company details
- What does GROUP A do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of GROUP A?
- GROUP A is a public limited company (NV).
- When was GROUP A founded?
- GROUP A was founded on 12-08-1977.
- Is GROUP A still active?
- Yes, GROUP A is an active enterprise in the KBO register.
- How many employees does GROUP A have?
- GROUP A had an average of 34 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does GROUP A fall under?
- In its 2025 annual accounts, GROUP A states joint committee 126 (Furnishing and woodworking).
- What is the turnover of GROUP A?
- The turnover of GROUP A was €79.7m in financial year 2025, according to the filed annual accounts.
- Is GROUP A profitable?
- In financial year 2025, GROUP A made a profit of €4.0m.
- Where can I find the annual accounts of GROUP A?
- GROUP A filed 57 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of GROUP A due?
- GROUP A must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check
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