BUCOVINA CONSTRUCT
ActiveSummary
BUCOVINA CONSTRUCT has been active since 2011 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2024 annual accounts show equity of €439,422 and a net result of -€1,950. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 69% of 993 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability54▼-17
Solvency84▲+9
Growth66▼-2
Track record92
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 4.17 against 2.54 in 2023; short-term debt: 9.2% and cash: 0.6% of total assets), and 40.9% of the assets are financed with debt.
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Signals
Nine 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 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
59.1%
Return on assets
-0.3%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-07-2025, 6 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
6 d early
2023
70 d early
2022
40 d early
2021
88 d late
2020
12 d late
2019
8 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 4 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
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Financials · fiscal year 2024, abbreviated schema
Turnover
€350,643▲ 13.5%
2023 · €309,014
EBIT margin
5.5%▼ 11.8pp
2023 · 17.3%
Net result
-€1,950
2023 · €23,815
Working capital
€216,764▲ 4.2%
2023 · €207,973
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€253,414€309,014▲ 21.9%€350,643▲ 13.5%
Operating result€103,867▲ 40.5%€77,856▼ 25.0%€35,228▼ 54.8%€53,346▲ 51.4%€19,223▼ 64.0%
Net result€68,123above the sector's middle half▲ 24.4%€39,122above the sector's middle half▼ 42.6%€19,888within the sector's middle half▼ 49.2%€23,815within the sector's middle half▲ 19.7%-€1,950within the sector's middle half
EBIT margin13.9%17.3%▲ 3.4pp5.5%▼ 11.8pp
Equity€349,797above the sector's middle half▲ 24.2%€388,920above the sector's middle half▲ 11.2%€408,807within the sector's middle half▲ 5.1%€432,622within the sector's middle half▲ 5.8%€439,422within the sector's middle half▲ 1.6%
Total assets€785,597above the sector's middle half▲ 15.6%€974,832above the sector's middle half▲ 24.1%€828,396within the sector's middle half▼ 15.0%€858,480within the sector's middle half▲ 3.6%€743,255within the sector's middle half▼ 13.4%
Debt€435,800▲ 9.6%€585,912▲ 34.4%€419,589▼ 28.4%€425,858▲ 1.5%€303,833▼ 28.7%
Working capital€135,480above the sector's middle half▲ 25.2%€74,747above the sector's middle half▼ 44.8%€109,038within the sector's middle half▲ 45.9%€207,973within the sector's middle half▲ 90.7%€216,764within the sector's middle half▲ 4.2%
Solvency44.5%within the sector's middle half▲ 3.1pp39.9%within the sector's middle half▼ 4.6pp49.3%within the sector's middle half▲ 9.5pp50.4%within the sector's middle half▲ 1.0pp59.1%within the sector's middle half▲ 8.7pp
Current ratio2.10above the sector's middle half▲ 0.011.29within the sector's middle half▼ 0.811.85within the sector's middle half▲ 0.562.54within the sector's middle half▲ 0.694.17above the sector's middle half▲ 1.63
Return on assets (ROA)8.7%above the sector's middle half▲ 0.6pp4.0%within the sector's middle half▼ 4.7pp2.4%within the sector's middle half▼ 1.6pp2.8%within the sector's middle half▲ 0.4pp-0.3%within the sector's middle half▼ 3.0pp
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 64% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €743,255
Fixed assets
€458,076 ▼ 11.1%
Current assets
€285,179 ▼ 16.9%
Equity and liabilities €743,255
Equity
€439,422 ▲ 1.6%
Debt
€303,833 ▼ 28.7%
Debt's share of the balance-sheet total falls from 49.6% to 40.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€54,238▼
2023 · €86,962
Cash flow
€33,065▼
2023 · €57,430
Debt to equity
0.69▼
2023 · 0.98
ROE
-0.4%▼
2023 · 5.5%
Interest coverage
2.55▼
2023 · 4.18
Debt ≤ 1 year
€68,415▼
2023 · €135,238
Debt > 1 year
€235,418▼
2023 · €290,620
Staff costs
€2,250
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,688 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.5%
went bankrupt
5.4%
stopped otherwise
94%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,688 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €277,592 | - | - | - |
| Turnover70 | - | - | €253,414 | €309,014 | €350,643 | ▲ 13.5% |
| Other operating income74 | - | - | €24,178 | - | - | - |
| Operating charges60/66A | - | - | €242,364 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €188,137 | €253,306 | ▲ 34.6% |
| Goods for resale, raw materials and consumables60 | - | - | €170,881 | - | - | - |
| Purchases600/8 | - | - | €170,881 | - | - | - |
| Services and other goods61 | - | - | €15,334 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €2,250 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,231 | €36,811 | €49,628 | €33,616 | €35,015 | ▲ 4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €30,831 | - |
| Other operating charges640/8 | - | €4,274 | €6,520 | €5,067 | €10,017 | ▲ 97.7% |
| Non-recurring operating charges66A | - | - | - | €66,552 | - | - |
| Gross operating margin9900 | €140,052 | €118,941 | - | €158,581 | €97,336 | ▼ 38.6% |
| Operating profit (loss)9901 | €103,867 | €77,856 | €35,228 | €53,346 | €19,223 | ▼ 64.0% |
| Financial income75/76B | - | €516 | €20 | - | €84 | - |
| Recurring financial income75 | €5,453 | €516 | €20 | - | €84 | - |
| Other financial income752/9 | - | - | €20 | - | - | - |
| Financial charges65/66B | - | €9,987 | €9,160 | €20,781 | €21,257 | ▲ 2.3% |
| Recurring financial charges65 | €8,122 | €9,987 | €9,160 | €20,781 | €21,257 | ▲ 2.3% |
| Debt charges650 | - | - | €7,945 | - | - | - |
| Other financial charges652/9 | - | - | €1,215 | - | - | - |
| Profit (loss) for the period before taxes9903 | €101,199 | €68,386 | €26,088 | €32,565 | -€1,950 | ▼ 106% |
| Income taxes67/77 | €33,075 | €29,263 | €6,200 | €8,750 | - | - |
| Taxes670/3 | - | - | €6,200 | - | - | - |
| Profit (loss) for the period9904 | €68,123 | €39,122 | €19,888 | €23,815 | -€1,950 | ▼ 108% |
| Profit (loss) for the period to be appropriated9905 | €68,123 | €39,122 | €19,888 | €23,815 | -€1,950 | ▼ 108% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €785,597 | €974,832 | €828,396 | €858,480 | €743,255 | ▼ 13.4% |
| Fixed assets21/28 | €526,407 | €640,005 | €590,378 | €515,270 | €458,076 | ▼ 11.1% |
| Tangible fixed assets22/27 | €526,117 | €639,715 | €590,088 | €514,980 | €457,786 | ▼ 11.1% |
| Land and buildings22 | - | €515,573 | €496,310 | €477,048 | €457,786 | ▼ 4.0% |
| Plant, machinery and equipment23 | - | €43,956 | €34,323 | €24,689 | - | - |
| Furniture and vehicles24 | - | €80,187 | €59,454 | €13,242 | - | - |
| Financial fixed assets28 | €290 | €290 | €290 | €290 | €290 | = |
| Other financial fixed assets284/8 | - | - | €290 | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | €290 | - | - | - |
| Current assets29/58 | €259,190 | €334,827 | €238,019 | €343,210 | €285,179 | ▼ 16.9% |
| Amounts receivable after more than one year29 | - | - | - | - | €253,083 | - |
| Trade receivables290 | - | - | - | - | €213,789 | - |
| Other amounts receivable291 | - | - | - | - | €39,294 | - |
| Amounts receivable within one year40/41 | €220,445 | €333,650 | €220,723 | €194,194 | - | - |
| Trade receivables40 | - | €202,713 | €115,861 | €110,756 | - | - |
| Other amounts receivable41 | - | €130,937 | €104,862 | €83,438 | - | - |
| Cash at bank and in hand54/58 | €38,358 | - | €45 | - | €4,547 | - |
| Deferred charges and accrued income490/1 | - | €1,177 | €17,250 | €149,016 | €27,549 | ▼ 81.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €785,597 | €974,832 | €828,396 | €858,480 | €743,255 | ▼ 13.4% |
| Equity10/15 | €349,797 | €388,920 | €408,807 | €432,622 | €439,422 | ▲ 1.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €331,197 | €370,320 | €370,320 | €370,320 | €370,320 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €370,320 | ▲ 19,810% |
| Legal reserve130 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €370,320 | ▲ 19,810% |
| Distributable reserves133 | - | €368,460 | €368,460 | €368,460 | - | - |
| Profit (loss) carried forward14 | - | - | €19,888 | €43,703 | €50,503 | ▲ 15.6% |
| Amounts payable17/49 | €435,800 | €585,912 | €419,589 | €425,858 | €303,833 | ▼ 28.7% |
| Amounts payable after more than one year17 | €312,089 | €325,832 | €290,608 | €290,620 | €235,418 | ▼ 19.0% |
| Financial debts170/4 | - | €325,468 | €290,608 | €290,620 | €235,418 | ▼ 19.0% |
| Credit institutions173 | - | - | €290,608 | - | - | - |
| Other amounts payable178/9 | - | €364 | - | - | - | - |
| Amounts payable within one year42/48 | €123,711 | €260,080 | €128,981 | €135,238 | €68,415 | ▼ 49.4% |
| Current portion of amounts payable after more than one year42 | - | €34,694 | €26,987 | - | €24,096 | - |
| Financial debts43 | - | €49,491 | €84,573 | €39,822 | €24,500 | ▼ 38.5% |
| Credit institutions430/8 | - | €49,491 | €52,973 | €39,822 | €24,500 | ▼ 38.5% |
| Other loans439 | - | - | €31,600 | - | - | - |
| Trade debts44 | €17,015 | €149,895 | €9,633 | €83,133 | €17,869 | ▼ 78.5% |
| Suppliers440/4 | - | €149,895 | €9,633 | €83,133 | €17,869 | ▼ 78.5% |
| Taxes, remuneration and social security45 | - | €7,133 | €6,200 | €12,282 | €1,950 | ▼ 84.1% |
| Taxes450/3 | - | €7,133 | €6,200 | €12,282 | €1,950 | ▼ 84.1% |
| Other amounts payable47/48 | - | €18,866 | €1,588 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €68,123 | €39,122 | €19,888 | €23,815 | -€1,950 | ▼ 108% |
| + Depreciation and write-downs630 | €32,231 | €36,811 | €49,628 | €33,616 | €35,015 | ▲ 4.2% |
| Operating cash flow (approximation) | €100,355 | €75,933 | €69,516 | €57,430 | €33,065 | ▼ 42.4% |
| Investment in fixed assets (approximation) | - | -€150,410 | €0 | €41,492 | €22,178 | ▼ 46.5% |
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
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
04-04
KBO administration
Address struck
Drukpersstraat 4 Die Sitzadresse Rue de la Presse / Drukpers-
Bruxelles · event 11-02-2025
2024
31-12
Financial
Weakest financial yearnet -€1,950
Net result drops to -€1,950, the lowest in the series.
22-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 88 days late
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
2020
31-12
Financial
Highest result since 2018net €68,123 ▲24.4%
Operating result €103,867, net result €68,123, both a record.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
07-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 7 days late
2018
01-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
26-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 57 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 17 acts read
About the unread acts
We know of 17 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
17 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 2011
Ground area
100 m²
Building footprint
99 m²
Volume, LiDAR
2,129 m³
Parcel 21803C0244/00A002, Brussels · tallest building 23.6 m, ±8 floors. Linked by address, not a title deed.
262
companies at this address
See who is registered here
1 establishment unit
Establishment
since 20112.196.745.142
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21803C0244/00A002 | Brussels | 100 m² | 1 · 99 m² | 23.6 m · 8 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 361 companies in sector 77120 we hold annual accounts for 234. 162 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded26-01-2011
Fiscal year end31-12
Activities, NACEBEL 2025
43910Bricklaying and masonry work
77120Rental and leasing activities
43350Other building finishing work
77320Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0833165464
Also
9925:BE0833165464
Registered
13-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.