BUL - CONSTRUCT
ActiveSummary
BUL - CONSTRUCT has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €276,109 and a net result of €39,189. Equity is growing by about 14% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €276,109
- Profit
- €39,189
Why 96raises riskSector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 4.01, cash €74,512Equity €276,109 (75.5% of total assets)Founded in 2007Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 43, micro): better than 90% on solvency, 65% on liquidity, 64% on profitability and 49% on growth.
The bankruptcy probability was computed on 29-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 28 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Highest result from 2019 to 2025net €56,440 ▲35.2%
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 32% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 34,693 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 34,693 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,000 | €7,450 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,940 | €1,426 | €709 | €767 | €454 | €454 | €882 | ▲ 94.3% |
| Other operating charges640/8 | - | - | - | €4,482 | €4,451 | €5,945 | €4,964 | ▼ 16.5% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €328 | - |
| Gross operating margin9900 | €67,507 | €53,158 | €49,303 | €71,283 | €60,959 | €88,896 | €61,992 | ▼ 30.3% |
| Operating profit (loss)9901 | €16,155 | €33,916 | €44,064 | €66,035 | €56,054 | €82,497 | €55,817 | ▼ 32.3% |
| Financial income75/76B | - | - | - | €3,663 | €3,921 | €3,079 | €3,072 | ▼ 0.2% |
| Recurring financial income75 | €4,898 | €3,513 | €3,185 | €3,663 | €3,921 | €3,079 | €3,072 | ▼ 0.2% |
| Financial charges65/66B | - | - | - | €1,474 | €1,346 | €2,520 | €1,180 | ▼ 53.2% |
| Recurring financial charges65 | €2,460 | €514 | €437 | €1,474 | €1,346 | €2,520 | €1,180 | ▼ 53.2% |
| Profit (loss) for the period before taxes9903 | €18,593 | €36,914 | €46,812 | €68,224 | €58,629 | €83,056 | €57,709 | ▼ 30.5% |
| Income taxes67/77 | €14,126 | €13,861 | €12,833 | €17,871 | €16,882 | €26,616 | €18,520 | ▼ 30.4% |
| Profit (loss) for the period9904 | €4,468 | €23,053 | €33,978 | €50,353 | €41,747 | €56,440 | €39,189 | ▼ 30.6% |
| Profit (loss) for the period to be appropriated9905 | €4,468 | €41,653 | €33,978 | €50,353 | €41,747 | €56,440 | €39,189 | ▼ 30.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €152,641 | €160,126 | €181,602 | €239,404 | €234,039 | €350,417 | €365,739 | ▲ 4.4% |
| Fixed assets21/28 | €2,477 | €1,572 | €863 | €2,367 | €1,913 | €1,578 | €5,880 | ▲ 273% |
| Tangible fixed assets22/27 | €2,323 | €1,418 | €709 | €2,213 | €1,759 | €1,305 | €5,606 | ▲ 330% |
| Plant, machinery and equipment23 | - | - | - | €2,213 | €1,759 | €1,305 | €851 | ▼ 34.8% |
| Furniture and vehicles24 | - | - | - | €0 | - | - | €4,756 | - |
| Financial fixed assets28 | €154 | €154 | €154 | €154 | €154 | €274 | €274 | = |
| Current assets29/58 | €150,164 | €158,554 | €180,740 | €237,037 | €232,126 | €348,838 | €359,859 | ▲ 3.2% |
| Stocks and contracts in progress3 | - | - | - | - | - | €180,291 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | - | - | €180,291 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €34,379 | €22,555 | €24,957 | €30,460 | €141,862 | €126,864 | €274,850 | ▲ 117% |
| Trade receivables40 | - | - | - | €27,088 | €33,806 | €11,576 | €58,439 | ▲ 405% |
| Other amounts receivable41 | - | - | - | €3,372 | €108,056 | €115,287 | €216,411 | ▲ 87.7% |
| Current investments50/53 | €97,721 | €95,158 | €117,620 | €155,467 | €62,662 | €17,666 | €6,667 | ▼ 62.3% |
| Cash at bank and in hand54/58 | €15,604 | €38,340 | €35,597 | €42,685 | €24,702 | €22,097 | €74,512 | ▲ 237% |
| Deferred charges and accrued income490/1 | - | - | - | €8,425 | €2,899 | €1,920 | €3,830 | ▲ 99.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €152,641 | €160,126 | €181,602 | €239,404 | €234,039 | €350,417 | €365,739 | ▲ 4.4% |
| Equity10/15 | €107,401 | €130,454 | €164,433 | €211,786 | €203,532 | €259,973 | €276,109 | ▲ 6.2% |
| Contributions10/11 | €19,000 | - | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €88,401 | €111,454 | €145,433 | €192,786 | €184,532 | €240,973 | €257,109 | ▲ 6.7% |
| Non-distributable reserves130/1 | - | - | - | €1,900 | €1,900 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,900 | €1,900 | €0 | - | - |
| Distributable reserves133 | - | - | - | €190,886 | €182,632 | €240,973 | €257,109 | ▲ 6.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €45,240 | €29,671 | €17,170 | €27,618 | €30,506 | €90,444 | €89,630 | ▼ 0.9% |
| Amounts payable within one year42/48 | €45,240 | €29,671 | €17,170 | €27,618 | €30,506 | €90,444 | €89,630 | ▼ 0.9% |
| Financial debts43 | - | - | - | €745 | €120 | €120 | €120 | = |
| Credit institutions430/8 | - | - | - | €745 | €120 | €120 | €120 | = |
| Trade debts44 | €18,004 | €12,305 | €10,229 | €23,383 | €22,617 | €83,690 | €37,941 | ▼ 54.7% |
| Suppliers440/4 | - | - | - | €23,383 | €22,617 | €83,690 | €37,941 | ▼ 54.7% |
| Taxes, remuneration and social security45 | - | - | - | €489 | €7,756 | €6,616 | €3,520 | ▼ 46.8% |
| Taxes450/3 | - | - | - | €371 | €7,253 | €6,616 | €3,520 | ▼ 46.8% |
| Remuneration and social security454/9 | - | - | - | €119 | €504 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €3,000 | €13 | €18 | €48,049 | ▲ 2,607× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,468 | €23,053 | €33,978 | €50,353 | €41,747 | €56,440 | €39,189 | ▼ 30.6% |
| + Depreciation and write-downs630 | €1,940 | €1,426 | €709 | €767 | €454 | €454 | €882 | ▲ 94.3% |
| Operating cash flow (approximation) | €6,408 | €24,479 | €34,687 | €51,120 | €42,201 | €56,894 | €40,072 | ▼ 29.6% |
| Investment in fixed assets (approximation) | - | -€521 | €0 | -€2,271 | €0 | -€120 | -€5,184 | ▼ 4,220% |
| Change in cash | - | €22,736 | -€2,744 | €7,088 | -€17,982 | -€2,605 | €52,415 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 12-01-2026 | 2026-00007080 |
| 30-06-2024 | micro format | 15-01-2025 | 2025-00008256 |
| 30-06-2023 | micro format | 23-01-2024 | 2024-00006562 |
| 30-06-2022 | micro format | 12-01-2023 | 2023-00000255 |
| 30-06-2021 | micro format | 13-12-2021 | 2021-80300592 |
| 30-06-2020 | micro format | 23-12-2020 | 2020-77400400 |
| 30-06-2019 | micro format | 18-12-2019 | 2019-76400591 |
| 30-06-2018 | micro format | 30-01-2019 | 2019-03400252 |
| 30-06-2017 | micro format | 15-12-2017 | 2017-72000043 |
| 30-06-2016 | abbreviated format | 14-12-2016 | 2016-70000457 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Fahri Ahmed |
|
| AHMED, Fahri Bayram |
|
| AHMED, Mohamed Emin |
|
| DEHAEMERS Kurt |
|
| HASAN, Sami Mustafa |
|
| TOPAL, Hasan Myumyun |
|
Owners and capital
Capital and shareholders
- 12-10-2023 Converted to unavailable equity · €20,900
Group and network
Connections & network
No directors read yet: 2 of 10 Gazette acts processed.
History
Acts, filings and financial milestones
05-04
Gazette deed
Resignation: Fahri Ahmed (director)Director discharge3 facts ▸
- General meeting, 31-12-2023
- Director resignation, Fahri Ahmed (director (not named in the articles))
- Director discharge, Fahri Ahmed
12-10
Gazette deed
Resignations: DEHAEMERS Kurt, TOPAL, Hasan Myumyun and 3 othersReappointments: DEHAEMERS Kurt, TOPAL, Hasan Myumyun and 3 others · Amendment of the articles · Capital conversion14 facts ▸
- Amendment of the articles (2 times)
- Other provision, “aanwezigheid buitengewone algemene vergadering” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opgeheven”, 20900 (deed in Dutch)
- Director resignation, DEHAEMERS Kurt
- Director reappointment, DEHAEMERS Kurt (statutory director)
- Director resignation, TOPAL, Hasan Myumyun
- Director reappointment, TOPAL, Hasan Myumyun (director (not named in the articles))
- Director resignation, AHMED, Mohamed Emin
- Director reappointment, AHMED, Mohamed Emin (director (not named in the articles))
- Director resignation, AHMED, Fahri Bayram
- Director reappointment, AHMED, Fahri Bayram (director (not named in the articles))
- +2 further facts in this act
Show earlier events
About the unread acts
Of the 10 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0892.617.358
Recognitions · licences · registrations
Recognised contractor
15 categories- D1 All shell construction and roofing-in of buildingsclass 1, up to €162,000
- D4 Sound and heat insulation, light partitions, false ceilings and floorsclass 1, up to €162,000
- D5 General joinery, timber roof trusses and stairsclass 1, up to €162,000
- D8 Asphalt and similar roof coverings, waterproofingclass 1, up to €162,000
- D10 Tilingclass 1, up to €162,000
- D11 Plastering and renderingclass 1, up to €162,000
- D13 Paintingclass 1, up to €162,000
- D14 Glazingclass 1, up to €162,000
Show all 15 categories
- D17 Central heating, thermal installationsclass 1, up to €162,000
- D18 Ventilation, warm-air heating and air conditioningclass 1, up to €162,000
- D20 Metal joineryclass 1, up to €162,000
- D21 Cleaning and restoring facadesclass 1, up to €162,000
- D25 Wall and floor coverings other than marble, parquet and tilesclass 1, up to €162,000
- G5 Demolitionclass 1, up to €162,000
- P1 Electrical installations in buildings, with fire and burglar alarms and telecomsclass 1, up to €162,000
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11323F0311/02S000 | Flanders | 2,918 m² | 1 · 1,477 m² | 11.5 m · 1 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het uitvoeren van algemene bouwwerken, bouwprojecten en renovaties; Onderneming voor het plaatsen van ramen, deuren en algemene…” (deed in Dutch)
2 activities (deed in Dutch)
- Het uitvoeren van algemene bouwwerken, bouwprojecten en renovaties.
- Onderneming voor het plaatsen van ramen, deuren en algemene schrijnwerkerij; het bouwen, herstellen en onderhouden van wegen; voor grondwerken; voor het optrekken van gebouwen, fabrieksschouwen, nijverheidsovens en andere soortgelijke werken; voor het bouwen van stellingen, alsmede voor het invoegen en reinigen van gevels; voor het uitvoeren van diverse land en tuinbouwwerken en van werken in verband met de veeteelt voor rekening van derden; voor het optrekken van niet-metalen uiteenneembare paviljoenen en barakken; voor het leggen van tegelvloeren en mozaïek en voor het plaatsen van alle andere wand- en vloerbekledingen; voor plafonneer-, cementeer-, en alle andere pleisterwerken; voor het steenhouwen; voor het bewerken, polijsten en plaatsen van marmer voor gebouwen; voor het vervaardigen en plaatsen van sierschouwen of andere versieringen van marmer of steen; voor het reinigen en ontsmetten van woongelegenheden, lokalen, meubels, stoffering en allerhande voorwerpen; voor het schoorsteenvegen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- One provision in the deed
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, Lage Kaart 156b,2930 Brasschaat” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “De vennootschap wordt in en buiten rechte vertegenwoordigd door de enige statutaire bestuurder alleen optredend, hetzij door een gewone…”“Overeenkomstig artikel 17 van de statuten van de vennootschap wordt aan de voornoemde bestuurders vertegenwoordigingsmacht verleend als…”
Full text
Overeenkomstig artikel 17 van de statuten van de vennootschap wordt aan de voornoemde bestuurders vertegenwoordigingsmacht verleend als volgt: de vennootschap wordt in en buiten rechte vertegenwoordigd door de enige statutaire bestuurder alleen optredend, hetzij door de gewone bestuurder én de statutaire bestuurder, gezamenlijk optredend. 14. - als bijzondere gevolmachtigden, met recht van substitutie, en elk met macht afzonderlijk te handelen, aangesteld werd: de coöperatieve vennootschap met beperkte aansprakelijkheid "KMO CONSULT", met zetel te 2900 Schoten, Brechtsebaan 30, BTW-nummer BE0436.957.779, ondernemingsnummer (RPR Antwerpen afdeling Antwerpen) 0436.957.779, en al haar aangestelden, en al haar aangestelden, aan wie de macht verleend wordt om alle verrichtingen te
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, één of meer bestuurders” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- “9. het boekjaar gaat in op één juli en eindigt op dertig juni van het jaar daaropvolgend. 10. - ieder jaar wordt een gewone algemene…” (deed in Dutch)