Equity
€42,185 from €86,203 in 2024
Equity fell by 51% in 1 year.
BSEG CONSTRUCT
Lifetime
9 annual accounts with figures on one time axispeak €331,087 (2023)
€219,854▲ 53.1%
lowest -€44,018 (2025)
-€44,018▼ €49,189
peak €86,203 (2024)
€42,185▼ 51.1%
€228,211▲ 18.8%
peak 5 FTE (2025)
5 FTE
Board3 names since 2019
1 directorNEZIRAJ Blerton
Documentsfilings and deeds
25-08-202625 days late
2025financial year
Gross margin from €143,592 to €219,854Loss of €44,018Equity from €86,203 to €42,185Debts from €192,062 to €228,211Cash from €41,570 to €23,544
Key points
from the 2025 annual accountsTurnover
≈ €560,000 estimated
The accounts state no turnover.
Debts
€228,211 84% of the balance sheet
Financial debts 64%Suppliers 6%Taxes and wages 5%Other 25%
Of this, €82,076 falls due within a year.
Investments
€113,303 1.7 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 9798.9% higher than in 2024.
Filings
9 annual accounts 5 late
The 2019 accounts came latest: 39 days after the end of the period.
Position in the sector
€42,185
Less equity than 93% of companies in fabricated metal products. Sector median €1.3m · 834 companies.
Checked score
49
Fair
Financially stronger than 21% of micro companies in fabricated metal products (NACE 25)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.9% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 3,709 companies (NACE 25, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.8%
01-2025: 0.8%● unchanged vs 12-2024
02-2025: 0.8%● unchanged vs 01-2025
03-2025: 0.8%● unchanged vs 02-2025
04-2025: 0.9%▲ +0.1 percentage points vs 03-2025
05-2025: 0.8%▼ -0.1 percentage points vs 04-2025
06-2025: 0.7%▼ -0.1 percentage points vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025
08-2025: 1.3%▲ +0.5 percentage points vs 07-2025
09-2025: 0.5%▼ -0.8 percentage points vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025lowest value
02-2026: 0.5%● unchanged vs 01-2026lowest value
03-2026: 0.5%● unchanged vs 02-2026lowest value
04-2026: 0.6%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%▼ -0.1 percentage points vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.6%▲ +0.1 percentage points vs 06-2026
08-2026: 1.0%▲ +0.4 percentage points vs 07-2026
09-2026: 2.7%▲ +1.7 percentage points vs 08-2026
10-2026: 2.9%▲ +0.2 percentage points vs 09-2026highest value
11-2026: 2.9%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Loss of €44,018 (financial year 2025)
Size: 5 FTE, total assets €270,396
Equity €42,185 (15.6% of total assets)
Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
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 25, micro). It does better than 18% of them on solvency, 40% on liquidity, 17% on profitability and 8% 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 moderate class on 30-06-2025, 2.4% 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, 1,133 companies had the same profile as BSEG CONSTRUCT has now. Each dot stands for 3 companies, two years later.
86.3%
were still trading
6.6%
stopped another way
6.4%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BSEG CONSTRUCT itself: 2.9% 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 1,133 companies, not a prediction for BSEG 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.
Credit verdict
Credit of up to €2,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.98 (1.19 in 2024), below 1. Short-term debt is 30.4% and cash 8.7% of total assets. 84.4% 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.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 834 sector peers (2025).
NBB · sector comparisonPosition among 834 sector peers
Solvency
better than 13%
← weakest
strongest →
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 9 filingsDeviation from the deadline
2025
25 days late
2024
29 days late
2023
47 days early
2022
24 days late
2021
5 days early
2020
26 days late
2019
39 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 13 days after the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% 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 24 August (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
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0674743282
Change of role: NEZIRAJ Blerton, from manager to director
“La construction générale de bâtiments résidentiels,non résidentiels ou immeubles de bureaux; La coordination…” (deed in French) · Legal-form conversion: from private limited company (pre-2019) to private limited company · General meeting of 11-12-2023 · Gazette deed
Resignation: Hava ALJIJA (director)
Director discharge: Hava ALJIJA · General meeting of 31-08-2022 · Gazette deed
Resignation: Besnik NEZIRAJ (director)
Director discharge: Besnik NEZIRAJ · General meeting of 04-12-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BSEG CONSTRUCT Andenne | €270,396 | €219,854 | 15.6% | 5 |
| Talenco Technical Services Antwerp | €259,462 | €426,609 | -15.0% | 4.8 |
| CREA'INOX Visé | €540,611 | €312,873 | -12.4% | 6.3 |
| Vekemans Metaalconstructie Genk | €255,487 | €177,050 | 12.2% | 2.5 |
| RCM INDUSTRIEBOUW Ichtegem | €201,874 | €218,913 | 2.1% | 3.2 |
| DJS INDUSTRIE Beloeil | €485,457 | €457,135 | 67.4% | 5.2 |
| MY MAINTENANCE ENGINEER Waregem | €141,603 | €307,538 | 56.8% | 4.3 |
These companies have the same main activity as BSEG CONSTRUCT: manufacture of metal structures and parts of structures (NACE 25110). They are comparable in size and age: total assets between €142,000 and €541,000, founded between 2010 and 2019.
Official details
Source: KBO- Status
- Active since 21-04-2017Normal situation
- Activity
- Manufacture of metal structures and parts of structuresNACE 25110and 6 others
- Establishment unit
- 2.263.758.7795300 Andenne, since 21-04-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 30-06-2025
Insights on BSEG CONSTRUCT
BSEG CONSTRUCT has existed since 2017. In 2023 the gross margin rose from €17,079 to €331,087.
Solvency fell in 2025 from 31.0% to 15.6% because of the loss and higher long-term debts.
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 BSEG CONSTRUCT
- What is the company number of BSEG CONSTRUCT?
- The company number of BSEG CONSTRUCT is 0674.743.282. The VAT number is the same number with BE in front: BE 0674.743.282.
- Where is BSEG CONSTRUCT based?
- The registered office is at Rue du Bois Portal 4, 5300 Andenne.Company details
- What does BSEG CONSTRUCT do?
- According to the KBO register, the main activity is manufacture of metal structures and parts of structures (NACE 25110).
- What is the legal form of BSEG CONSTRUCT?
- BSEG CONSTRUCT is a private limited company (BV).
- When was BSEG CONSTRUCT founded?
- BSEG CONSTRUCT was founded on 21-04-2017.
- Is BSEG CONSTRUCT still active?
- Yes, BSEG CONSTRUCT is an active enterprise in the KBO register.
- How many employees does BSEG CONSTRUCT have?
- BSEG CONSTRUCT had an average of 5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of BSEG CONSTRUCT?
- The turnover in financial year 2025 is ≈ €560,000. This figure is estimated from the gross margin of €219,854 and 1,649 comparable companies of the same size. It probably lies between €340,000 and €1.0m. It is a rough estimate. In financial year 2021 turnover was €189,939.
- Is BSEG CONSTRUCT profitable?
- In financial year 2025, BSEG CONSTRUCT made a loss of €44,018.
- Where can I find the annual accounts of BSEG CONSTRUCT?
- BSEG CONSTRUCT filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BSEG CONSTRUCT due?
- BSEG CONSTRUCT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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