BUILDING CIRCULAR
ActiveSummary
BUILDING CIRCULAR has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €257,163 and a net result of €86,020. Equity is growing by ~17.9% per year across the filed fiscal years. Its solvency ranks better than 93% of 1119 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency100▲+2
Growth65▼-2
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 6.1 against 2.63 in 2023; short-term debt: 11.9% and cash: 12.7% of total assets), and 11.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer 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 2024Solvency, return and age of the figures
Solvency
88.1%
Return on assets
29.5%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-09-2025, 55 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 · 8 filingsDeviation from the deadline
2025
not confirmed
2024
55 d late
2023
420 d late
2022
219 d late
2021
40 d late
2020
405 d late
2019
770 d late
← 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 318 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€102,174▼ 8.6%
2023 · €111,825
EBIT margin
69.4%▲ 5.7pp
2023 · 63.7%
Net result
€86,020▲ 19.1%
2023 · €72,196
Working capital
€176,490▲ 47.1%
2023 · €120,005
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€93,411▲ 5.3%€96,065▲ 2.8%€94,786▼ 1.3%€111,825▲ 18.0%€102,174▼ 8.6%
Operating result€58,598▼ 3.8%€56,853▼ 3.0%€55,676▼ 2.1%€71,194▲ 27.9%€70,889▼ 0.4%
Net result€46,848within the sector's middle half▼ 9.2%€36,545within the sector's middle half▼ 22.0%€37,389within the sector's middle half▲ 2.3%€72,196within the sector's middle half▲ 93.1%€86,020within the sector's middle half▲ 19.1%
EBIT margin62.7%▼ 5.9pp59.2%▼ 3.5pp58.7%▼ 0.4pp63.7%▲ 4.9pp69.4%▲ 5.7pp
Equity€127,012within the sector's middle half▲ 21.9%€139,558within the sector's middle half▲ 9.9%€152,947within the sector's middle half▲ 9.6%€201,143within the sector's middle half▲ 31.5%€257,163within the sector's middle half▲ 27.9%
Total assets€179,438within the sector's middle half▲ 3.3%€221,808within the sector's middle half▲ 23.6%€228,884below the sector's middle half▲ 3.2%€274,599below the sector's middle half▲ 20.0%€291,769below the sector's middle half▲ 6.3%
Debt€52,426▼ 24.6%€82,250▲ 56.9%€75,938▼ 7.7%€73,456▼ 3.3%€34,606▼ 52.9%
Working capital€123,061within the sector's middle half▲ 22.8%€136,782within the sector's middle half▲ 11.1%€153,159within the sector's middle half▲ 12.0%€120,005within the sector's middle half▼ 21.6%€176,490within the sector's middle half▲ 47.1%
Solvency70.8%above the sector's middle half▲ 10.8pp62.9%within the sector's middle half▼ 7.9pp66.8%above the sector's middle half▲ 3.9pp73.2%above the sector's middle half▲ 6.4pp88.1%above the sector's middle half▲ 14.9pp
Current ratio3.35above the sector's middle half▲ 0.912.66within the sector's middle half▼ 0.693.06above the sector's middle half▲ 0.392.63within the sector's middle half▼ 0.426.10above the sector's middle half▲ 3.47
Return on assets (ROA)26.1%above the sector's middle half▼ 3.6pp16.5%above the sector's middle half▼ 9.6pp16.3%above the sector's middle half▼ 0.1pp26.3%above the sector's middle half▲ 10.0pp29.5%above the sector's middle half▲ 3.2pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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 0% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €291,769
Fixed assets
€80,692 ▼ 0.6%
Current assets
€211,077 ▲ 9.1%
Equity and liabilities €291,769
Equity
€257,163 ▲ 27.9%
Debt
€34,606 ▼ 52.9%
Debt's share of the balance-sheet total falls from 26.8% to 11.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€71,354▼
2023 · €72,026
Cash flow
€86,485▲
2023 · €73,028
Debt to equity
0.13▼
2023 · 0.37
ROE
33.4%▼
2023 · 35.9%
Interest coverage
914.80
Debt ≤ 1 year
€34,587▼
2023 · €73,437
Income taxes
-€9,110▼
2023 · -€992
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 34,696 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €93,411 | €96,065 | €94,786 | €111,825 | €102,174 | ▼ 8.6% |
| Goods, raw materials, services and sundry goods60/61 | €33,456 | €38,048 | €36,945 | €39,574 | €30,419 | ▼ 23.1% |
| Remuneration, social security and pensions62 | - | - | - | €1,472 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,357 | €1,164 | €1,864 | €832 | €465 | ▼ 44.1% |
| Other operating charges640/8 | - | - | €300 | €225 | €400 | ▲ 77.8% |
| Gross operating margin9900 | €59,955 | €58,017 | €57,840 | €73,722 | €71,754 | ▼ 2.7% |
| Operating profit (loss)9901 | €58,598 | €56,853 | €55,676 | €71,194 | €70,889 | ▼ 0.4% |
| Financial income75/76B | - | €759 | - | €11 | €6,098 | ▲ 55,240% |
| Recurring financial income75 | - | €759 | - | €11 | €4,298 | ▲ 38,906% |
| Non-recurring financial income76B | - | - | - | €11 | €1,800 | ▲ 16,234% |
| Financial charges65/66B | €88 | €314 | €84 | - | €78 | - |
| Recurring financial charges65 | €88 | €314 | €84 | - | €78 | - |
| Non-recurring financial charges66B | - | - | - | - | €78 | - |
| Profit (loss) for the period before taxes9903 | €58,511 | €57,298 | €55,592 | €71,205 | €76,910 | ▲ 8.0% |
| Income taxes67/77 | €11,662 | €20,753 | €18,203 | -€992 | -€9,110 | ▼ 819% |
| Profit (loss) for the period9904 | €46,848 | €36,545 | €37,389 | €72,196 | €86,020 | ▲ 19.1% |
| Profit (loss) for the period to be appropriated9905 | €46,848 | €36,545 | €37,389 | €72,196 | €86,020 | ▲ 19.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €179,438 | €221,808 | €228,884 | €274,599 | €291,769 | ▲ 6.3% |
| Formation expenses20 | €104 | €0 | - | - | - | - |
| Fixed assets21/28 | €3,907 | €2,848 | €1,306 | €81,157 | €80,692 | ▼ 0.6% |
| Intangible fixed assets21 | €4 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €3,903 | €2,848 | €1,306 | €1,157 | €692 | ▼ 40.2% |
| Plant, machinery and equipment23 | €28 | €17 | €5 | €5 | €5 | = |
| Furniture and vehicles24 | €3,875 | €2,831 | €1,301 | €1,152 | €687 | ▼ 40.4% |
| Financial fixed assets28 | - | - | - | €80,000 | €80,000 | = |
| Current assets29/58 | €175,427 | €218,960 | €227,579 | €193,442 | €211,077 | ▲ 9.1% |
| Amounts receivable within one year40/41 | €34,103 | €48,676 | €11,753 | €27,720 | €24,055 | ▼ 13.2% |
| Trade receivables40 | €18,033 | €12,008 | €9,174 | €8,393 | €2,738 | ▼ 67.4% |
| Other amounts receivable41 | €16,070 | €36,668 | €2,579 | €19,326 | €21,317 | ▲ 10.3% |
| Current investments50/53 | - | - | - | €120,000 | €150,000 | ▲ 25.0% |
| Cash at bank and in hand54/58 | €141,324 | €170,284 | €215,826 | €45,722 | €37,022 | ▼ 19.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €179,438 | €221,808 | €228,884 | €274,599 | €291,769 | ▲ 6.3% |
| Equity10/15 | €127,012 | €139,558 | €152,947 | €201,143 | €257,163 | ▲ 27.9% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Issued capital100 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €3,650 | €3,650 | €3,650 | €3,650 | €3,650 | = |
| Non-distributable reserves130/1 | €3,650 | €3,650 | €3,650 | €3,650 | €3,650 | = |
| Legal reserve130 | €3,650 | €3,650 | €3,650 | €3,650 | €3,650 | = |
| Profit (loss) carried forward14 | €103,363 | €115,908 | €129,297 | €177,494 | €233,513 | ▲ 31.6% |
| Amounts payable17/49 | €52,426 | €82,250 | €75,938 | €73,456 | €34,606 | ▼ 52.9% |
| Amounts payable within one year42/48 | €52,366 | €82,178 | €74,420 | €73,437 | €34,587 | ▼ 52.9% |
| Financial debts43 | €417 | - | - | - | - | - |
| Credit institutions430/8 | €417 | - | - | - | - | - |
| Trade debts44 | - | €1,312 | €226 | - | €4,150 | - |
| Suppliers440/4 | - | €1,312 | €226 | - | €4,150 | - |
| Taxes, remuneration and social security45 | €30,871 | €42,707 | €9,521 | €8,297 | €14,157 | ▲ 70.6% |
| Taxes450/3 | €30,871 | €42,707 | €9,521 | €8,297 | €14,157 | ▲ 70.6% |
| Other amounts payable47/48 | €21,078 | €38,159 | €64,673 | €65,140 | €16,281 | ▼ 75.0% |
| Accrued charges and deferred income492/3 | €60 | €72 | €1,518 | €19 | €19 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €46,848 | €36,545 | €37,389 | €72,196 | €86,020 | ▲ 19.1% |
| + Depreciation and write-downs630 | €1,357 | €1,164 | €1,864 | €832 | €465 | ▼ 44.1% |
| Operating cash flow (approximation) | €48,205 | €37,709 | €39,253 | €73,028 | €86,485 | ▲ 18.4% |
| Investment in fixed assets (approximation) | - | -€104 | -€322 | -€80,683 | €0 | ▲ 100% |
| Change in cash | - | €28,960 | €45,542 | -€170,103 | -€8,700 | ▲ 94.9% |
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
24-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 55 days late
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 420 days late
2024
31-12
Financial
Highest result since 2018net €86,020 ▲19.1%
Net result €86,020, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 6.10
Current ratio from 2.63 to 6.10; short-term debt falls from €73,437 to €34,587.
06-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 219 days late
2023
31-12
Financial
Equity above €200,000Eq €201,143 ▲31.5%
6 profitable years in a row build equity to €201,143.
2022
31-12
Financial
Equity above €150,000Eq €152,947 ▲9.6%
5 profitable years in a row build equity to €152,947.
09-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 40 days late
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 405 days late
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 770 days late
04-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 1131 days late
2021
31-12
Financial
Weakest financial yearnet €36,545 ▼22%
Net result drops to €36,545, the lowest in the series; recovery starts the following year.
2019
31-12
Financial
Equity above €100,000Eq €104,164 ▲36%
2 profitable years in a row build equity to €104,164.
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Etterbeek · 1 establishment unit since 2016
Ground area
257 m²
Building footprint
88 m²
Volume, LiDAR
791 m³
Parcel 21362B0040/00B003, Brussels · tallest building 12.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Building Circular
since 20162.263.156.191
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21362B0040/00B003 | Brussels | 257 m² | 1 · 87 m² | 12.7 m · 3 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 11,567 companies in sector 71121 we hold annual accounts for 6,567. 4,991 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 (pre-2019)
Founded08-07-2016
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
73200Market research and public opinion polling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0658829245
Also
9925:BE0658829245
Registered
15-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.