BSV CONSTRUCT
ActiveSummary
BSV CONSTRUCT has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €567k and a net result of €262k. Equity is growing by ~35.3% per year across the filed fiscal years. Its solvency ranks better than 81% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+1
Solvency97▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 1.63 against 1.83 in 2024; short-term debt: 27.7% and cash: 1.9% of total assets), and 28.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
71.8%
Return on assets
33.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
40 d late
2022
45 d late
2021
92 d late
2020
31 d late
2019
80 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€262k▲ 133%
2024 · €112k
2018: €-2klowest in 8 years
2019: €15k▲ +910% vs 2018
2020: €23k▲ +51.0% vs 2019
2021: €51k▲ +121% vs 2020
2022: €40k▼ -21.4% vs 2021
2023: €49k▲ +20.7% vs 2022
2024: €112k▲ +130% vs 2023
2025: €262k▲ +133% vs 2024highest in 8 years
2018 → 2025
Working capital
€139k▲ 4.8%
2024 · €132k
2018: €35k
2019: €53k▲ +52.2% vs 2018
2020: €56k▲ +5.6% vs 2019
2021: €76k▲ +35.8% vs 2020
2022: €63k▼ -16.3% vs 2021
2023: €-13k▼ -121% vs 2022lowest in 8 years
2024: €132k▲ +1116% vs 2023
2025: €139k▲ +4.8% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€133k-€174k▲ 30.3%€192k▲ 10.8%€305k▲ 58.4%€567k▲ 86.0%
2021: €133klowest in 5 years
2022: €174k▲ +30.3% vs 2021
2023: €192k▲ +10.8% vs 2022
2024: €305k▲ +58.4% vs 2023
2025: €567k▲ +86.0% vs 2024highest in 5 years
Operating result€64k-€96k▲ 48.7%€80k▼ 16.4%€176k▲ 119%€371k▲ 111%
2021: €64klowest in 5 years
2022: €96k▲ +48.7% vs 2021
2023: €80k▼ -16.4% vs 2022
2024: €176k▲ +119% vs 2023
2025: €371k▲ +111% vs 2024highest in 5 years
Net result€51k-€40k▼ 21.4%€49k▲ 20.7%€112k▲ 130%€262k▲ 133%
2021: €51k
2022: €40k▼ -21.4% vs 2021lowest in 5 years
2023: €49k▲ +20.7% vs 2022
2024: €112k▲ +130% vs 2023
2025: €262k▲ +133% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 111% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €789k
Fixed assets
€432k ▲ 145%
Current assets
€357k ▲ 22.6%
Equity and liabilities €789k
Equity
€567k ▲ 86.0%
Debt
€222k ▲ 36.6%
Debt's share of the balance-sheet total falls from 34.8% to 28.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€376k▲
2024 · €177k
Cash flow
€267k▲
2024 · €114k
Current ratio
1.63▼
2024 · 1.83
Debt to equity
0.39▼
2024 · 0.53
ROE
46.2%▲
2024 · 36.9%
ROA
33.2%▲
2024 · 24.0%
Interest coverage
14.12▲
2024 · 8.73
Debt ≤ 1 year
€218k▲
2024 · €159k
Income taxes
€89k▲
2024 · €45k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€467k€789k▲
Fixed assets21/28€176k€432k▲
Tangible fixed assets22/27€6k€24k▲
Plant, machinery and equipment23€22-
Furniture and vehicles24€6k€24k▲
Financial fixed assets28€170k€408k▲
Current assets29/58€291k€357k▲
Amounts receivable within one year40/41€229k€335k▲
Trade receivables40€37k€46k▲
Other amounts receivable41€193k€289k▲
Cash at bank and in hand54/58€56k€15k▼
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€467k€789k▲
Equity10/15€305k€567k▲
Contributions10/11€6k€6k=
Reserves13€16k€16k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€15k€15k=
Profit (loss) carried forward14€282k€544k▲
Amounts payable17/49€163k€222k▲
Amounts payable within one year42/48€159k€218k▲
Current portion of amounts payable after more than one year42€2k-
Financial debts43€6k-
Credit institutions430/8€6k-
Trade debts44€10k€4k▼
Suppliers440/4€10k€4k▼
Taxes, remuneration and social security45€65k€142k▲
Taxes450/3€65k€142k▲
Remuneration and social security454/9€35-
Other amounts payable47/48€76k€72k▼
Accrued charges and deferred income492/3€4k€4k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€5k▲
Other operating charges640/8€8k€1k▼
Gross operating margin9900€185k€377k▲
Operating profit (loss)9901€176k€371k▲
Financial income75/76B€3k€7k▲
Recurring financial income75€3k€7k▲
Financial charges65/66B€20k€27k▲
Recurring financial charges65€20k€27k▲
Profit (loss) for the period before taxes9903€158k€351k▲
Income taxes67/77€45k€89k▲
Profit (loss) for the period9904€112k€262k▲
Profit (loss) for the period to be appropriated9905€112k€262k▲
Appropriation of the result
Profit (loss) to be appropriated9906€282k€544k▲
Profit (loss) brought forward from the previous period14P€170k€282k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €6k | €2k | €2k | €5k | ▲ 201% |
| Other operating charges640/8 | €546 | €3k | €918 | €8k | €1k | ▼ 85.0% |
| Gross operating margin9900 | €77k | €105k | €83k | €185k | €377k | ▲ 104% |
| Operating profit (loss)9901 | €64k | €96k | €80k | €176k | €371k | ▲ 111% |
| Financial income75/76B | - | €1k | €1k | €3k | €7k | ▲ 167% |
| Recurring financial income75 | - | €1k | €1k | €3k | €7k | ▲ 167% |
| Financial charges65/66B | €3k | €5k | €13k | €20k | €27k | ▲ 31.1% |
| Recurring financial charges65 | €3k | €5k | €13k | €20k | €27k | ▲ 31.1% |
| Profit (loss) for the period before taxes9903 | €61k | €91k | €68k | €158k | €351k | ▲ 122% |
| Income taxes67/77 | €10k | €51k | €19k | €45k | €89k | ▲ 95.9% |
| Profit (loss) for the period9904 | €51k | €40k | €49k | €112k | €262k | ▲ 133% |
| Profit (loss) for the period to be appropriated9905 | €51k | €40k | €49k | €112k | €262k | ▲ 133% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €233k | €327k | €432k | €467k | €789k | ▲ 68.8% |
| Fixed assets21/28 | €81k | €121k | €208k | €176k | €432k | ▲ 145% |
| Tangible fixed assets22/27 | €7k | €622 | €60k | €6k | €24k | ▲ 278% |
| Plant, machinery and equipment23 | €5k | €622 | €322 | €22 | - | - |
| Furniture and vehicles24 | €2k | - | €60k | €6k | €24k | ▲ 280% |
| Financial fixed assets28 | €74k | €121k | €148k | €170k | €408k | ▲ 140% |
| Current assets29/58 | €152k | €206k | €224k | €291k | €357k | ▲ 22.6% |
| Amounts receivable within one year40/41 | €128k | €196k | €214k | €229k | €335k | ▲ 46.2% |
| Trade receivables40 | €1k | €48k | €55k | €37k | €46k | ▲ 26.1% |
| Other amounts receivable41 | €127k | €148k | €159k | €193k | €289k | ▲ 50.0% |
| Cash at bank and in hand54/58 | €23k | €10k | €6k | €56k | €15k | ▼ 73.3% |
| Deferred charges and accrued income490/1 | €720 | €710 | €3k | €6k | €7k | ▲ 24.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €233k | €327k | €432k | €467k | €789k | ▲ 68.8% |
| Equity10/15 | €133k | €174k | €192k | €305k | €567k | ▲ 86.0% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €16k | €16k | €16k | €16k | €16k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €15k | €15k | €15k | €15k | €15k | = |
| Profit (loss) carried forward14 | €111k | €151k | €170k | €282k | €544k | ▲ 92.9% |
| Amounts payable17/49 | €100k | €154k | €239k | €163k | €222k | ▲ 36.6% |
| Amounts payable after more than one year17 | €23k | €11k | - | - | - | - |
| Financial debts170/4 | €23k | €11k | - | - | - | - |
| Amounts payable within one year42/48 | €76k | €143k | €237k | €159k | €218k | ▲ 37.5% |
| Current portion of amounts payable after more than one year42 | €15k | €12k | €12k | €2k | - | - |
| Financial debts43 | - | - | €26 | €6k | - | - |
| Credit institutions430/8 | - | - | €26 | €6k | - | - |
| Trade debts44 | €6k | €20k | €104k | €10k | €4k | ▼ 57.6% |
| Suppliers440/4 | €6k | €20k | €104k | €10k | €4k | ▼ 57.6% |
| Taxes, remuneration and social security45 | €9k | €69k | €48k | €65k | €142k | ▲ 120% |
| Taxes450/3 | €9k | €68k | €48k | €65k | €142k | ▲ 120% |
| Remuneration and social security454/9 | - | €1k | €35 | €35 | - | - |
| Other amounts payable47/48 | €47k | €42k | €73k | €76k | €72k | ▼ 5.3% |
| Accrued charges and deferred income492/3 | - | - | €2k | €4k | €4k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51k | €40k | €49k | €112k | €262k | ▲ 133% |
| + Depreciation and write-downs630 | €12k | €6k | €2k | €2k | €5k | ▲ 201% |
| Operating cash flow (approximation) | €63k | €47k | €51k | €114k | €267k | ▲ 134% |
| Investment in fixed assets (approximation) | - | €-47k | €-89k | €30k | €-261k | ▼ 974% |
| Change in cash | - | €-13k | €-4k | €50k | €-41k | ▼ 182% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €262k ▲133%
Operating result €371k, net result €262k, both a record.
31-12
Financial
Equity above €500kEq €567k ▲86%
7 profitable years in a row build equity to €567k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Equity above €200kEq €305k ▲58.4%
6 profitable years in a row build equity to €305k.
09-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 40 days late
2023
14-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 45 days late
2022
31-12
Financial
Equity above €150kEq €174k ▲30.3%
4 profitable years in a row build equity to €174k.
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-12
Financial
Equity above €100kEq €133k ▲62.8%
3 profitable years in a row build equity to €133k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 80 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
21-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 113 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 59 days late
2017
06-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 37 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2015
Ground area
116 m²
Building footprint
75 m²
Volume, LiDAR
762 m³
Parcel 21818A0003/00Z070, Brussels · tallest building 13.3 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
BSV CONSTRUCT
since 20152.252.706.719
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21818A0003/00Z070 | Brussels | 116 m² | 1 · 75 m² | 13.3 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 8,454 companies in sector 43120 we hold annual accounts for 3,231. 2,087 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-10-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.