BSL CONSTRUCT
ActiveFrom the official registers: KBO 34 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
BSL CONSTRUCT has been active since 1988 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€930,650) and a net result of -€30,659. Equity has been shrinking by about 6.6% per year since 2018. Its solvency ranks better than 5% of 11,235 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Overview
Official details
KBO- Status
- Active since 20-02-1988 Normal situation
- Registered office
- 29 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 1 November 2026.
- Activity
- Development of residential building projects NACE 68121
- Establishment unit
- 2.035.413.158 3530 Houthalen-Helchteren, since 03-03-2000
- Financial year end
- 31 December
- Peppol
- Reachable since 16-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.6%
- Gross margin
- -€2,302
- ▼ 0.7%
- Loss
- €30,659
- ▼ 28.1%
- Equity
- -€930,650
- ▼ 3.4%
- Total assets
- €48,843
- ▼ 1.7%
Score breakdownraises riskCapped at 59: negative equityNegative equity -€930,650Loss of €30,659, the second in a row (financial year 2025)lowers riskSize: total assets €48,843Founded in 1988Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, micro). It does better than 5% of them on solvency, 20% on liquidity, 4% on profitability and 37% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 22 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 05-06-2026 PDF all 34 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €2,464, larger than the loss of €2,449 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Comparable companies
These companies have the same main activity as BSL CONSTRUCT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €39,600 and €55,700, founded between 1986 and 1993.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| BSL CONSTRUCT Houthalen-Helchteren | 1988 | €48,843 | -€930,650 | -€2,302 | -€30,659 | 2025 |
| SAMACO Berlare | 1986 | €55,655 | €21,902 | €697 | -€8,477 | 2025 |
| REDIMA Aalst | 1990 | €42,813 | €41,171 | -€2,089 | -€3,143 | 2025 |
| GHENT INDUSTRIAL INVESTMENT Gent | 1991 | €50,126 | €44,469 | -€25,974 | -€27,961 | 2025 |
| Orkabouw Oostende | 1993 | €48,371 | €47,871 | -€3,111 | -€3,568 | 2025 |
| EURO - VS Beyne-Heusay | 1993 | €47,252 | €43,381 | -€1,416 | -€7,731 | 2025 |
| VAN LOOY CONTRACTING Bonheiden | 1992 | €39,597 | €39,597 | -€5,470 | -€6,315 | 2025 |
They were chosen from the 7,757 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 6,619 companies had the same profile as BSL CONSTRUCT has now. Two years later, 4.5% had gone bankrupt and 84.5% were still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BSL CONSTRUCT itself is lower: 0.6% within 12 months. It rests on far more data about BSL CONSTRUCT than the profile alone.
Test of the method
The method was tested on the 497,445 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 6,619 companies, not a prediction for BSL 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €180 | €180 | €240 | €162 | €162 | = |
| Gross operating margin9900 | €0.2m | €0.02m | -€1.2m | -€0.003m | -€0.003m | -€0.03m | -€0.002m | -€0.002m | ▼ 0.7% |
| Operating profit (loss)9901 | -€0.002m | -€0.002m | -€1.2m | -€0.003m | -€0.003m | -€0.03m | -€0.002m | -€0.002m | ▼ 0.6% |
| Financial charges65/66B | - | - | - | €0.003m | €0.008m | €0.04m | €0.04m | €0.03m | ▼ 29.8% |
| Recurring financial charges65 | €0.002m | €0.002m | €0.002m | €0.003m | €0.008m | €0.04m | €0.04m | €0.03m | ▼ 29.8% |
| Profit (loss) for the period before taxes9903 | -€0.004m | -€0.005m | -€0.6m | -€0.005m | -€0.01m | -€0.07m | -€0.04m | -€0.03m | ▲ 28.1% |
| Profit (loss) for the period9904 | -€0.004m | -€0.005m | -€0.6m | -€0.005m | -€0.01m | -€0.07m | -€0.04m | -€0.03m | ▲ 28.1% |
| Profit (loss) for the period to be appropriated9905 | -€0.004m | -€0.005m | -€0.6m | -€0.005m | -€0.01m | -€0.07m | -€0.04m | -€0.03m | ▲ 28.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.4m | €2.6m | €0.2m | €0.2m | €0.2m | €0.05m | €0.05m | €0.05m | ▼ 1.7% |
| Current assets29/58 | €2.4m | €2.6m | €0.2m | €0.2m | €0.2m | €0.05m | €0.05m | €0.05m | ▼ 1.7% |
| Stocks and contracts in progress3 | €2.4m | €2.6m | €0.2m | €0.2m | €0.2m | €0.04m | €0.04m | €0.04m | = |
| Stocks30/36 | - | - | - | €0.2m | €0.2m | €0.04m | €0.04m | €0.04m | = |
| Cash at bank and in hand54/58 | €389 | €0.001m | €186 | €212 | €0.001m | €0.01m | €0.01m | €0.01m | ▼ 7.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.4m | €2.6m | €0.2m | €0.2m | €0.2m | €0.05m | €0.05m | €0.05m | ▼ 1.7% |
| Equity10/15 | -€0.1m | -€0.1m | -€0.8m | -€0.8m | -€0.8m | -€0.9m | -€0.9m | -€0.9m | ▼ 3.4% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.8m | -€0.9m | -€0.9m | -€0.9m | -€1.0m | -€1.0m | ▼ 3.2% |
| Amounts payable17/49 | €2.5m | €2.7m | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | €1.0m | ▲ 3.1% |
| Amounts payable within one year42/48 | €2.5m | €2.7m | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | €1.0m | ▲ 3.1% |
| Trade debts44 | €1.8m | €1.8m | €0.001m | €0.002m | - | - | - | €0.002m | - |
| Suppliers440/4 | - | - | - | €0.002m | - | - | - | €0.002m | - |
| Other amounts payable47/48 | - | - | - | €1.0m | €1.0m | €0.9m | €0.9m | €1.0m | ▲ 2.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,940 | -€4,584 | -€629,098 | -€5,464 | -€11,184 | -€69,454 | -€42,624 | -€30,659 | ▲ 28.1% |
| Operating cash flow (approximation) | -€3,940 | -€4,584 | -€629,098 | -€5,464 | -€11,184 | -€69,454 | -€42,624 | -€30,659 | ▲ 28.1% |
| Change in cash | - | €320 | -€523 | €26 | €1,167 | €12,326 | -€2,599 | -€829 | ▲ 68.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 05-06-2026 | 2026-00145187 | |
| 31-12-2024 | abbreviated format | 09-07-2025 | 2025-00255039 | |
| 31-12-2023 | abbreviated format | 06-06-2024 | 2024-00115829 | |
| 31-12-2022 | abbreviated format | 08-08-2023 | 2023-00321621 | |
| 31-12-2021 | abbreviated format | 12-07-2022 | 2022-20182704 | |
| 31-12-2020 | abbreviated format | 25-08-2021 | 2021-53300029 | |
| 31-12-2019 | abbreviated format | 26-06-2020 | 2020-21200101 | |
| 31-12-2018 | abbreviated format | 20-08-2019 | 2019-47800099 | |
| 31-12-2017 | abbreviated format | 22-06-2018 | 2018-21500017 | |
| 31-12-2016 | abbreviated format | 03-07-2017 | 2017-26300533 |
Board & ownership
Directors
Board 2
Day-to-day management 2
Owners and capital
Shareholders
2 ownersChain of control
- Group GL
- BSL CONSTRUCT
Owners 2
- Group GLparentSourceaccounts Group GL 202599.97%
-
0.03%
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Ghislain Lenaers |
|
| John Lenaers |
|
Network & group
Connections & network
2 current directorsThe network starts from the directors of BSL CONSTRUCT. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
17-08
Gazette deed
Reappointments: Ghislain Lenaers (director) and John Lenaers (director)6 points ▸
- General meeting, 29-07-2026
- Director reappointment, Ghislain Lenaers (director)
- Director reappointment, John Lenaers (director)
- Board meeting, 29-07-2026
- Director reappointment, Ghislain Lenaers (managing director)
- Director reappointment, John Lenaers (managing director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0433.401.740
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 72015C0713/00R000 | Flanders | 8,651 m² | 1 · 4,261 m² | 6.9 m · 2 |