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CM-CONSTRUCT

Active Private limited companyfounded 2017active for 9 yearsMoershoofde 31, 9980 Sint-LaureinsKBO/BCE: BE 0668.906.159

Overview

Lifetime

9 annual accounts with figures on one time axis
peak €56,067 (2024)
€51,744▼ 7.7%
peak €27,944 (2024)
€25,407▼ 9.1%
peak €119,777 (2025)
€119,777▲ 16.7%
€35,721▼ 52.2%
Board1 name since 2021
1 directorMinnaert Carlo
Documentsfilings and deeds
04-07-202627 days before the deadline
2025abbreviated format
Dividend €8,223Equity from €102,594 to €119,777Debts from €74,707 to €35,721

Key points

from the 2025 annual accounts

Equity

€119,777 ▲ 16.7%

CM-CONSTRUCT has made a profit in every financial year since 2017.

Liquidity

3.75 was 1.92 in 2024

Short-term debts fell from €74,707 to €35,721.

Filings

9 annual accounts 5 late
AprilJune31 JulyOctober20202025

The 2019 accounts came latest: 34 days after the end of the period.

Checked score

98
Excellent
Financially stronger than 81% of micro companies in fabricated metal products (NACE 25)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.5% across 3,710 companies (NACE 25, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.2%▲ +0.1 percentage points vs 06-2025highest value 08-2025: 0.1%▼ -0.1 percentage points vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.1%● unchanged vs 07-2026lowest value 09-2026: 0.1%● unchanged vs 08-2026lowest value 10-2026: 0.1%● unchanged vs 09-2026lowest value 11-2026: 0.1%● unchanged vs 10-2026lowest value

Financial strength
Strong

100+17equity 77.0% of total assets
92+12short-term debt 23.0% · cash 56.5%
89+1return on assets 16.3%

Score breakdown

raises risk
Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
lowers risk
Liquidity: current ratio 3.75, cash €87,847
Equity €119,777 (77.0% of total assets)
Figures for financial year 2025 (filed on 04-07-2026)
Calculation

The band follows from the bankruptcy probability. 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 25, micro). It does better than 90% of them on solvency, 89% on liquidity, 79% on profitability and 68% on growth.

The bankruptcy probability was computed on 09-11-2026 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.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 26,972 companies had the same profile as CM-CONSTRUCT has now. Each dot stands for 68 companies, two years later.

94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of CM-CONSTRUCT itself is lower: 0.1% within 12 months. It rests on far more data about CM-CONSTRUCT than the profile alone.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 26,972 companies, not a prediction for CM-CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €11,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 3.75 (1.92 in 2024), above the usual 1.5. Short-term debt is 23% and cash 56.5% of total assets. 23% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Liquidity: current ratio 3.75, cash €87,847
NBB · annual accounts
lowers risk · Equity €119,777 (77.0% of total assets)
NBB · annual accounts
raises risk · Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
KBO
lowers risk · Figures for financial year 2025 (filed on 04-07-2026)
NBB · annual accounts
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 04-07-2026, 27 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
27 days early
2024
25 days early
2023
25 days early
2022
14 days late
2021
25 days late
2020
29 days early
2019
34 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 5 days before the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 July (4 of the last 5 accounts filed within 38 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

MC
Director
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0668906159
Resignation: Minnaert Carlo (manager) Reappointment: Minnaert Carlo (director) · General meeting of 11-12-2023 · Gazette deed
Incorporation published on 12-01-2017 · Gazette deed
First establishment Moershoofde 31, Sint-Laureins
All 15 events

Comparable companies

same main activity, similar in size and age
Company
CM-CONSTRUCT Sint-Laureins €155,498 €51,744 77.0% -
XAVIER COPPENS Gavere €179,145 €44,069 33.8% -
VECOTEC Staden €146,930 €46,592 75.5% -
ACEDOR Seraing €138,685 €42,590 61.7% -
KVZ Services Londerzeel €135,401 €45,531 17.2% -
CNC SOLUTIONS Stabroek €196,495 €51,383 76.2% -
VCDM Brakel €223,904 €53,973 -29.2% -

These companies have the same main activity as CM-CONSTRUCT: manufacture of metal structures and parts of structures (NACE 25110). They are comparable in size and age: total assets between €135,000 and €224,000, founded between 2015 and 2017.

Official details

Source: KBO
Status
Active since 10-01-2017Normal situation
Activity
Manufacture of metal structures and parts of structuresNACE 25110
Establishment unit
2.260.374.2719980 Sint-Laureins, since 10-01-2017
Financial year end
31 December
Peppol
Reachable since 27-09-2025
Company details

Annual accounts 2025

€51,744▼ 7.7%
≈ €140,000estimated
€25,407▼ 9.1%
€119,777▲ 16.7%
€155,498▼ 12.3%
Filing
Filed on 04-07-2026, 27 days before the end of the filing period
Financials

Insights on CM-CONSTRUCT

CM-CONSTRUCT files the abbreviated format. That format states no turnover. The gross margin rose from €28,560 in 2017 to €51,744 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 04-07-2026, 27 days before the deadline
€51,744
▼ 7.7%
€37,093
▼ 10.0%
€25,407
▼ 9.1%
€98,364
▲ 42.6%
77.0%
▲ 19.2 percentage points
3.75
▲ 1.83

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €140,000. Estimated: probably between €89,000 and €280,000.

Balance sheet

balance sheet total €155,498 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

77.0%

Higher than 83% of 1,245 companies in 2025.

3.75

Higher than 79% of 1,226 companies in 2025.

16.3%

Higher than 85% of 1,244 companies in 2025.

CM-CONSTRUCT Middle half of the sector 80% of the sector Abbreviated accounts in fabricated metal products (NACE 25)

Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023202220212020201920182017
Balance sheet: assets
20/58 155,498177,301149,302128,622128,564105,722111,702140,365104,198
21/28 21,41333,61446,32358,4017,42421,07636,94259,94969,075
22/27 21,41333,61446,32358,4017,42421,07636,94259,94969,075
23 3,2105,2937,8859,8473,1715,4308,20314,06721,958
24 18,20328,32038,43748,5544,25315,64528,73945,88247,117
29/58 134,085143,687102,98070,220121,14084,64674,76180,41635,123
3 8,6514,3505,97517,2659,93210,2391,79828,2222,832
30/36 8,6514,3505,9755,2659,93210,2391,7981,9052,832
37 ---12,000---26,317-
40/41 37,58644,97421,76743,11561,01663,76339,00824,87826,495
40 30,87537,38016,22721,64353,70254,07034,33815,11524,889
41 6,7117,5945,54121,4717,3149,6944,6719,7631,605
54/58 87,84794,36375,2379,84150,19210,64433,95427,3165,796
Balance sheet: equity and liabilities
10/49 155,498177,301149,302128,622128,564105,722111,702140,365104,198
10/15 119,777102,594102,39982,22359,56153,06746,54437,15020,185
10/11 18,60018,60018,60018,60018,60018,60018,60018,60018,600
10 18,60018,60018,60018,60018,600----
100 18,60018,60018,60018,60018,60018,60018,60018,60018,600
13 101,17783,99483,79963,62340,96134,46727,94418,5501,585
130/1 1,8601,8601,8601,8601,8601,860---
130 1,8601,8601,8601,8601,8601,8601,8601,8601,585
133 99,31782,13481,93961,76339,10132,60726,08416,690-
17/49 35,72174,70746,90346,39969,00352,65565,159103,21484,012
17 -------4,22912,612
170/4 -------4,22912,612
42/48 35,72174,70746,90346,39969,00352,65565,15998,98571,400
42 ------4,2298,3838,283
44 3,7048,3735,3186,95928,5629,5449,65327,9582,809
440/4 3,7048,3735,3186,95928,5629,5449,65327,9582,809
46 -2,0002,000------
45 11,87021,39617,58312,6949,9815,1626,1649,8752,102
450/3 11,87021,39617,58312,6949,9815,1626,1649,8752,102
47/48 20,14742,93822,00226,74630,45937,94945,11252,76858,206
Income statement
76A 5,000-1,653------
9900 51,74456,06747,06939,71930,97435,67345,39053,66428,560
630 12,20012,70912,0795,27215,05320,09426,04925,03521,696
640/8 2,4512,1432,1641,9351,8191,8251,4721,6782,406
9901 37,09341,21632,82632,51214,10213,75517,86926,9514,459
75/76B 223306-2692222417174
75 223306-2692222417174
65/66B 1,1201,5711,3251,2601,3781,6471,6551,0851,225
65 1,1201,5711,3251,2601,3781,6471,6551,0851,225
9903 36,19539,67531,50631,25212,99312,33016,23825,8833,408
67/77 10,78911,7319,7306,9914,8994,2075,2217,3181,823
9904 25,40727,94421,77624,2628,0948,12311,01718,5651,585
9905 25,40727,94421,77624,2628,0948,12311,01718,5651,585
Appropriation of the result
9906 25,40727,94421,77624,2628,0948,12311,01718,5651,585
791/2 6,52326,084-------
691/2 23,70726,27820,17622,6626,4946,5239,39316,9651,585
6920 -------2751,585
6921 23,70726,27820,17622,6626,4946,5239,39316,690-
694/7 8,22327,7501,6001,6001,6001,6001,6241,600-
694 8,22327,7501,6001,6001,6001,6001,6241,600-
Document PDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 04-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 04-07-2026 2026-00251980 PDF
31-12-2024 micro format 06-07-2025 2025-00234665 PDF
31-12-2023 micro format 06-07-2024 2024-00216658 PDF
31-12-2022 micro format 14-08-2023 2023-00327190 PDF
31-12-2021 micro format 25-08-2022 2022-20328137 PDF
31-12-2020 micro format 02-07-2021 2021-31000546 PDF
31-12-2019 micro format 03-09-2020 2020-50500184 PDF
31-12-2018 micro format 30-08-2019 2019-61000427 PDF
31-12-2017 micro format 28-08-2018 2018-52600415 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023202220212020201920182017
49,29353,92544,90537,78429,15433,84943,91851,98626,155
37,60740,65333,85529,53423,14728,21737,06643,60023,281
00056,2501,4014,2283,04215,90990,771
-6,51619,12665,397-40,35139,548-23,3106,63821,520-
98,36468,98056,07623,82152,13731,9929,602-18,569-36,277
77.0%57.9%68.6%63.9%46.3%50.2%41.7%26.5%19.4%
3.751.922.201.511.761.611.150.810.49
3.511.872.071.141.611.411.120.530.45
0.300.730.460.561.160.991.402.784.16
21.2%27.2%21.3%29.5%13.6%15.3%23.7%50.0%7.9%
16.3%15.8%14.6%18.9%6.3%7.7%9.9%13.2%1.5%
44.0034.3333.8830.0021.16----

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets---€56,250€1,401
€12,200€12,709€12,079€5,272€15,053

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on CM-CONSTRUCT

The operating result for 2025 is 10% lower than in 2024.

Debt's share of the balance-sheet total falls from 42.1% to 23.0%. Equity is higher and debt is lower.

Board & ownership

Board

1 director, last change in 2024
Director (not named in the articles)
in office according to the deed of 15-01-2024 term without a fixed end
earlier manager, until 15-01-2024
listed in the 2025 annual accounts, filed on 04-07-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Minnaert Carlo
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
  • Minnaert Carlo
    • Director (not named in the articles), since before 31-12-2021
    • Manager, until 15-01-2024

See the board, name and registered office on a given date →

Control

Capital

Contribution
€18,600
Source
2025 annual accounts

Articles of association

deed of 15-01-2024 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 1 director
“6.Bestuursorgaan, natuurlijke personen of rechtspersonen,al dan niet aandeelhouder”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Monday of June at 20:00

Network & group

No group

CM-CONSTRUCT has no parent and no holdings in its annual accounts. Minnaert Carlo is the only director. CM-CONSTRUCT shares no director with another company.

Timeline

Timeline

15 events since 2017

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBabbreviated format · 27 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0668906159
Annual accounts 2024 filed PDFmicro format · 25 days before the deadline
2024
Highest result from 2017 to 2025 net €27,944 ▲28.3% The operating result of €41,216 and the net result of €27,944 are both a record.
Annual accounts 2023 filed PDFmicro format · 25 days before the deadline
Resignation: Minnaert Carlo (manager)Reappointment: Minnaert Carlo (director) · General meeting of 11-12-20235 points ▸
  • General meeting, 11-12-2023
  • 100 shares
  • Registered office clause, Moershoofde 31, 9980Sint-Laureins
  • Director resignation, Minnaert Carlo (manager)
  • Director reappointment, Minnaert Carlo (director (not named in the articles))
  • The deed holds 4 more points.

Open the deed in the Belgian Official Gazette

2023
Equity above €100,000 equity €102,399 ▲24.5% With a profit in every financial year since 2017, equity grows to €102,399.
Annual accounts 2022 filed PDFmicro format · 14 days late
2022
Annual accounts 2021 filed PDFmicro format · 25 days late
2021
Annual accounts 2020 filed PDFmicro format · 29 days before the deadline
2020
Annual accounts 2019 filed PDFmicro format · 34 days late
2019
Annual accounts 2018 filed PDFmicro format · 30 days late
2018
Annual accounts 2017 filed PDFmicro format · 28 days late
2017
Incorporation PDFpublished on 12-01-2017
First establishment Moershoofde 31, Sint-Laureins

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 10 January 2017, CM-CONSTRUCT was incorporated.1 Total assets went from €140,365 in 2018 to €155,498 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0668.906.159
VAT number
BE 0668.906.159
Peppol ID
0208:0668906159
Other Peppol ID
9925:BE0668906159
Legal form
Private limited company
Status
Active, normal situation
Founded
10-01-2017
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Monday of June at 20:00
deed of 15-01-2024 (in Dutch)
Peppol
Reachable since 27-09-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
CM-CONSTRUCT in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 15-01-2024 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 15-01-2024 (in Dutch)

Activities

NACEBEL 2025
Codes under NACEBEL 2008
25110 Manufacture of metal structures and parts of structures main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“Vervaardiging van metalen constructiewerken en delen daarvan; Boren,draaien,frezen,vonkerosief…”
10 activities
  1. Vervaardiging van metalen constructiewerken en delen daarvan
  2. Boren,draaien,frezen,vonkerosief bewerken,schaven,lappen,tekfrezen,vlaggen,zagen,slijpen,lassen,enz.van metalen stukken
  3. Vervaardiging van overige artikelen van metaal,n.e.g.
  4. Inox leuningen,vervaardigingen van inox constructiewerken en delen daarvan
  5. Hekwerk en automatisatie
  6. Opbouwen van installaties
  7. Montagewerken
  8. Dak-en gevelwerken
  9. Maken en plaatsen van staalconstructies
  10. Bouwen van loodsen
deed of 15-01-2024 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Moershoofde 31 registered office 9980 Sint-Laureins 10-01-2017 2.260.374.271

Buildings and parcels at the address

Ground area
758 m²
Buildings
154 m²
Volume, LiDAR
866 m³
Tallest building
8.6 m
Buildings to scale, each on its own parcel
154 m², 8.6 m 154 m², 8.6 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
43014A0544/00D000758 m² 1 · 154 m² 8.6 m · 2