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Condeco

Active
Public limited companyfounded 1972active for 54 yearsHeernisse(D) 11, 8600 Diksmuide, BelgiumKBO/BCE: BE 0412.140.033
Summary

Condeco has been active since 1972 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.2m and a net result of €1.1m. Equity is growing by about 10% per year across the filed financial years. Its solvency ranks better than 80% of 360 sector peers (NACE 23, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).

Overview

Activity
Manufacture of other non-metallic mineral products
NACE 23610Other specialised construction activities NACE 43990
Oldest company in Diksmuide, Manufacturing sector1 site
Size
€11.7mturnover 2025
Staff
38.5 FTE
Equity
€4.2m
Profit
€1.1m
Financial health
98 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
< 0.1%
Structure
Parent
CONCRETE HOLDING · 100%
Accounts 58 days early1 of 15 deeds read
Why 98lowers riskLiquidity: current ratio 4.05, cash €1.1mEquity €4.2m (73.8% of total assets)Size: turnover €11.7m, 38.5 FTE, total assets €5.7mFounded in 1972Show the evidence

Checked score

Score 2025
98 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 81% of its sector peers (NACE 23, small)
Financial strength · tick = 2024
Strong
Solvency 99+21
equity 73.8% of total assets
Liquidity 66+18
short-term debt 21.9% · cash 19.2%
Profitability 89-11
return on assets 19.7%
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

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

Sector median 0.1% (234 companies, NACE 23, small)
Last 24 months 11-2024: < 0.1% 12-2024: < 0.1%● unchanged vs 11-2024 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 05-2025highest value 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged 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 06-2026lowest value 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
Credit of up to €400,000 on 30-day terms is acceptable
Liquidity ample (current ratio 4.05, compared with 2.16 in 2024, above the usual 1.5; short-term debt: 21.9% and cash: 19.2% of total assets), and 26.2% of the assets are financed with debt and provisions.
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 23, small): better than 82% on solvency, 88% on liquidity, 91% on profitability and 63% on growth.

The bankruptcy probability was computed on 18-10-2026 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

Five signals.
lowers riskneutral
lowers risk · Liquidity: current ratio 4.05, cash €1.1m
NBB · annual accounts
lowers risk · Equity €4.2m (73.8% of total assets)
NBB · annual accounts
lowers risk · Size: turnover €11.7m, 38.5 FTE, total assets €5.7m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
lowers risk · Founded in 1972
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
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 03-06-2026, 58 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
58 days early
2024
38 days early
2023
51 days early
2022
53 days early
2021
26 days early
2020
53 days early
2019
53 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 47 days before the deadline; the sector median (NACE 23) for financial year 2024 is 10 days before the deadline, and 34% 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 11 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
19-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Reappointment: AUDITAS BEDRIJFSREVISOREN (statutory auditor)Gazette deed
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Positive: Oldest company in Diksmuide, Manufacturing sectorin the Checked rankings No. 1 View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Positive: 8 profitable years in a rowprofit 2025: €1.1m 8 years View
  • Controlled by CONCRETE HOLDINGultimately: VT-INVEST 100% View
  • Caution: Result fell in 2025from €1.7m to €1.1m ▼ 33.4% View
  • Active since 1972founded 12-04-1972 54 years View

By topic

Financials

Financial year
2025
Turnover
€11.7m
Profit
€1.1m
Solvency
73.8%
Turnover▼ 5.1%
Net result
20242025
Go to Financials

Timeline

Events
51
Since
1979
Next accounts
by 31-07-2027
  1. 10-06-2024Annual accounts filed
  2. 31-12-2023Highest result from 2018 to 2025
  3. 08-06-2023Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of other non-metallic mineral productsNACE 23610
Founded
12-04-1972
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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