CGS Construct
ActiveSummary
The computed 12-month bankruptcy probability of CGS Construct is 1.6% (moderate). The 2025 annual accounts show equity of €57k and a net result of €9k. Equity is growing by ~19% per year across the filed fiscal years. Its solvency ranks better than 21% of 27965 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+9
Solvency44▲+13
Growth78=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days only on tighter terms
Liquidity tight (current ratio 1.23 against 1.05 in 2024; short-term debt: 78.7% and cash: 4.5% of total assets), and 81% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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
19%
Return on assets
3%
Age of the figures
9 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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
8 d late
2023
28 d late
2022
98 d late
2021
78 d late
2020
149 d late
2019
96 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, micro schema
Equity
€57k▲ 18.7%
2024 · €48k
2018: €17klowest in 8 years
2019: €18k▲ +10.8% vs 2018
2020: €29k▲ +57.5% vs 2019
2021: €24k▼ -18.2% vs 2020
2022: €26k▲ +9.9% vs 2021
2023: €41k▲ +56.5% vs 2022
2024: €48k▲ +17.0% vs 2023
2025: €57k▲ +18.7% vs 2024highest in 8 years
2018 → 2025
Total assets
€299k▼ 64.5%
2024 · €843k
2018: €261k
2019: €230k▼ -11.6% vs 2018lowest in 8 years
2020: €450k▲ +95.3% vs 2019
2021: €316k▼ -29.7% vs 2020
2022: €311k▼ -1.6% vs 2021
2023: €425k▲ +36.7% vs 2022
2024: €843k▲ +98.2% vs 2023highest in 8 years
2025: €299k▼ -64.5% vs 2024
2018 → 2025
Net result
€9k▲ 28.8%
2024 · €7k
2018: €3k
2019: €2k▼ -32.9% vs 2018
2020: €11k▲ +491% vs 2019highest in 8 years
2021: €-5k▼ -150% vs 2020lowest in 8 years
2022: €2k▲ +145% vs 2021
2023: €9k▲ +288% vs 2022
2024: €7k▼ -23.5% vs 2023
2025: €9k▲ +28.8% vs 2024
2018 → 2025
Working capital
€55k▲ 41.0%
2024 · €39k
2018: €5klowest in 8 years
2019: €8k▲ +54.0% vs 2018
2020: €16k▲ +107% vs 2019
2021: €18k▲ +9.5% vs 2020
2022: €23k▲ +28.6% vs 2021
2023: €34k▲ +46.1% vs 2022
2024: €39k▲ +15.3% vs 2023
2025: €55k▲ +41.0% 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€24k-€26k▲ 9.9%€41k▲ 56.5%€48k▲ 17.0%€57k▲ 18.7%
2021: €24klowest in 5 years
2022: €26k▲ +9.9% vs 2021
2023: €41k▲ +56.5% vs 2022
2024: €48k▲ +17.0% vs 2023
2025: €57k▲ +18.7% vs 2024highest in 5 years
Operating result€-5k-€9k€17k▲ 87.8%€34k▲ 103%€40k▲ 17.2%
2021: €-5klowest in 5 years
2022: €9k▲ +270% vs 2021
2023: €17k▲ +87.8% vs 2022
2024: €34k▲ +103% vs 2023
2025: €40k▲ +17.2% vs 2024highest in 5 years
Net result€-5k-€2k€9k▲ 288%€7k▼ 23.5%€9k▲ 28.8%
2021: €-5klowest in 5 years
2022: €2k▲ +145% vs 2021
2023: €9k▲ +288% vs 2022highest in 5 years
2024: €7k▼ -23.5% vs 2023
2025: €9k▲ +28.8% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 17% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €299k
Fixed assets
€9k =
Current assets
€290k ▼ 65.2%
Equity and liabilities €299k
Equity
€57k ▲ 18.7%
Debt
€243k ▼ 69.5%
Debt's share of the balance-sheet total falls from 94.3% to 81.0%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
1.23▲
2024 · 1.05
Quick ratio
1.11▲
2024 · 1.02
Debt to equity
4.26▼
2024 · 16.59
ROE
15.8%▲
2024 · 14.6%
ROA
3.0%▲
2024 · 0.8%
Debt ≤ 1 year
€236k▼
2024 · €795k
Debt > 1 year
€7k
Income taxes
€9k▲
2024 · €9k
Staff costs
€65
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 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€843k€299k▼
Fixed assets21/28€9k€9k=
Tangible fixed assets22/27€4k€4k=
Plant, machinery and equipment23€762€762=
Furniture and vehicles24€1k€1k=
Leasing and similar rights25€2k€2k=
Financial fixed assets28€5k€5k=
Current assets29/58€834k€290k▼
Stocks and contracts in progress3€21k€29k▲
Stocks30/36€21k€29k▲
Amounts receivable within one year40/41€813k€248k▼
Trade receivables40€813k€231k▼
Other amounts receivable41-€18k
Cash at bank and in hand54/58€65€13k▲
Equity and liabilities
Total equity and liabilities10/49€843k€299k▼
Equity10/15€48k€57k▲
Contributions10/11€6k€6k=
Capital10€6k-
Issued capital100€19k-
Uncalled capital101€12k-
Reserves13€2k€2k=
Non-distributable reserves130/1€2k-
Legal reserve130€2k-
Distributable reserves133-€2k
Profit (loss) carried forward14€40k€49k▲
Amounts payable17/49€795k€243k▼
Amounts payable after more than one year17-€7k
Financial debts170/4-€7k
Amounts payable within one year42/48€795k€236k▼
Current portion of amounts payable after more than one year42-€20k
Financial debts43€47k-
Credit institutions430/8€47k-
Trade debts44€716k€200k▼
Suppliers440/4€716k€200k▼
Taxes, remuneration and social security45€31k€9k▼
Taxes450/3€18k€9k▼
Remuneration and social security454/9€12k-
Other amounts payable47/48€1k€7k▲
Income statement
Code20242025
Remuneration, social security and pensions62-€65
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€285-
Other operating charges640/8€2k€2k▲
Gross operating margin9900€36k€42k▲
Operating profit (loss)9901€34k€40k▲
Financial charges65/66B€18k€22k▲
Recurring financial charges65€18k€22k▲
Profit (loss) for the period before taxes9903€16k€18k▲
Income taxes67/77€9k€9k▲
Profit (loss) for the period9904€7k€9k▲
Profit (loss) for the period to be appropriated9905€7k€9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€40k€49k▲
Profit (loss) brought forward from the previous period14P€33k€40k▲
The notes to these accounts (5 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €3k | - | - | €65 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €7k | €3k | €285 | - | - |
| Other operating charges640/8 | - | €4k | €2k | €2k | €2k | ▲ 13.9% |
| Gross operating margin9900 | €2k | €22k | €22k | €36k | €42k | ▲ 16.3% |
| Operating profit (loss)9901 | €-5k | €9k | €17k | €34k | €40k | ▲ 17.2% |
| Financial income75/76B | - | €197 | €642 | - | - | - |
| Recurring financial income75 | - | €197 | €642 | - | - | - |
| Financial charges65/66B | - | €1k | €2k | €18k | €22k | ▲ 19.2% |
| Recurring financial charges65 | - | €1k | €2k | €18k | €22k | ▲ 19.2% |
| Profit (loss) for the period before taxes9903 | €-5k | €8k | €15k | €16k | €18k | ▲ 14.9% |
| Income taxes67/77 | - | €6k | €6k | €9k | €9k | ▲ 4.1% |
| Profit (loss) for the period9904 | €-5k | €2k | €9k | €7k | €9k | ▲ 28.8% |
| Profit (loss) for the period to be appropriated9905 | €-5k | €2k | €9k | €7k | €9k | ▲ 28.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €316k | €311k | €425k | €843k | €299k | ▼ 64.5% |
| Fixed assets21/28 | €13k | €10k | €7k | €9k | €9k | = |
| Tangible fixed assets22/27 | €12k | €6k | €3k | €4k | €4k | = |
| Plant, machinery and equipment23 | €2k | €1k | €762 | €762 | €762 | = |
| Furniture and vehicles24 | €214 | €108 | - | €1k | €1k | = |
| Leasing and similar rights25 | €9k | €4k | €2k | €2k | €2k | = |
| Other tangible fixed assets26 | €262 | €131 | - | - | - | - |
| Financial fixed assets28 | €1k | €4k | €4k | €5k | €5k | = |
| Current assets29/58 | €303k | €301k | €418k | €834k | €290k | ▼ 65.2% |
| Stocks and contracts in progress3 | €26k | €9k | €9k | €21k | €29k | ▲ 37.7% |
| Stocks30/36 | €26k | €9k | €9k | €21k | €29k | ▲ 37.7% |
| Amounts receivable within one year40/41 | €250k | €289k | €401k | €813k | €248k | ▼ 69.4% |
| Trade receivables40 | €250k | €289k | €401k | €813k | €231k | ▼ 71.6% |
| Other amounts receivable41 | - | - | - | - | €18k | - |
| Cash at bank and in hand54/58 | €28k | €2k | €7k | €65 | €13k | ▲ 20,452% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €316k | €311k | €425k | €843k | €299k | ▼ 64.5% |
| Equity10/15 | €24k | €26k | €41k | €48k | €57k | ▲ 18.7% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Capital10 | €6k | €6k | €6k | €6k | - | - |
| Issued capital100 | €19k | €19k | €19k | €19k | - | - |
| Uncalled capital101 | €12k | €12k | €12k | €12k | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | - | - |
| Legal reserve130 | €2k | €2k | €2k | €2k | - | - |
| Distributable reserves133 | - | - | - | - | €2k | - |
| Profit (loss) carried forward14 | €16k | €18k | €33k | €40k | €49k | ▲ 22.5% |
| Amounts payable17/49 | €292k | €285k | €384k | €795k | €243k | ▼ 69.5% |
| Amounts payable after more than one year17 | €7k | €7k | - | - | €7k | - |
| Financial debts170/4 | €7k | €7k | - | - | €7k | - |
| Amounts payable within one year42/48 | €285k | €278k | €384k | €795k | €236k | ▼ 70.4% |
| Current portion of amounts payable after more than one year42 | €5k | €3k | - | - | €20k | - |
| Financial debts43 | - | - | - | €47k | - | - |
| Credit institutions430/8 | - | - | - | €47k | - | - |
| Trade debts44 | €218k | €239k | €351k | €716k | €200k | ▼ 72.1% |
| Suppliers440/4 | €218k | €239k | €351k | €716k | €200k | ▼ 72.1% |
| Taxes, remuneration and social security45 | €61k | €22k | €22k | €31k | €9k | ▼ 69.5% |
| Taxes450/3 | €61k | €22k | €22k | €18k | €9k | ▼ 49.0% |
| Remuneration and social security454/9 | - | - | - | €12k | - | - |
| Other amounts payable47/48 | €1k | €14k | €12k | €1k | €7k | ▲ 511% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €2k | €9k | €7k | €9k | ▲ 28.8% |
| + Depreciation and write-downs630 | €7k | €7k | €3k | €285 | - | - |
| Operating cash flow (approximation) | €2k | €9k | €12k | €7k | €9k | ▲ 23.7% |
| Investment in fixed assets (approximation) | - | €-4k | €0 | €-2k | €0 | ▲ 100% |
| Change in cash | - | €-26k | €5k | €-7k | €13k | ▲ 283% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
06-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 98 days late
2022
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
31-12
Financial
Weakest financial yearnet €-5k
Net result drops to €-5k, the lowest in the series; recovery starts the following year.
27-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 149 days late
2020
31-12
Financial
Highest result since 2018net €11k ▲491%
Operating result €58k, net result €11k, both a record.
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 96 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Vorst · 1 establishment unit since 2015
Ground area
5,321 m²
Building footprint
1,542 m²
Volume, LiDAR
22,393 m³
2 parcels, Brussels · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Fazantenparklaan 90, 1150 Sint-Pieters-Woluwe
since 20152.237.995.678
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0182/00X036 | Brussels | 5,172 m² | 1 · 1,460 m² | 19.5 m · 5 fl. |
| 21382C0253/00W000 | Brussels | 149 m² | 1 · 82 m² | 14.6 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,014 companies in sector 43310 we hold annual accounts for 1,746. 1,531 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
Founded24-12-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43310Plastering work
43211General electrical installation work
43320Joinery installation
43333Wallpapering and laying of floor and wall coverings in other materials
43343Specialised construction activities
43350Other building finishing work
43422Screed work
Scores and ratios are computed by Checked and are not a credit decision.