Equity
-€75,873
Debts exceed assets in financial year 2025.
CONSTRUCT 23
Lifetime
3 annual accounts with figures on one time axispeak €115,157 (2024)
-€53,327▼ €168,485
lowest -€69,004 (2025)
-€69,004▼ €86,741
peak €25,393 (2023)
-€75,873▼ €69,004
€477,676▲ 454%
Board2 names since 2023
2 directorsVAN CEULEBROECK Luc René Maurice and 1 other
Documentsfilings and deeds
29-08-202629 days late
2025micro format
Gross margin from €115,157 to -€53,327Loss of €69,004Equity from -€6,870 to -€75,873Debts from €86,176 to €477,676Cash from €78,519 to €14,474
Key points
from the 2025 annual accountsDebts
€477,676 119% of the balance sheet
Financial debts 63%Suppliers 0%Taxes and wages 0%Other 36%
Investments
€1,703 5.0 × depreciation
Green is investment, beige is depreciation.
Filings
3 annual accounts 3 late
The 2024 accounts came latest: 29 days after the end of the period.
Starting capital
€10,000
Position in the sector
-€69,004
Lower net result than 94% of companies in real estate. Sector median €5,994 · 17,181 companies.
Turnover not published (micro format)
Checked score
52
Fair
Financially stronger than 6% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.5%▲ +0.1 percentage points vs 05-2025
07-2025: 0.5%● unchanged vs 06-2025
08-2025: 0.8%▲ +0.3 percentage points vs 07-2025
09-2025: 1.0%▲ +0.2 percentage points vs 08-2025highest value
10-2025: 0.4%▼ -0.6 percentage points vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.3%▼ -0.1 percentage points vs 12-2025lowest value
02-2026: 0.3%● unchanged vs 01-2026lowest value
03-2026: 0.3%● unchanged vs 02-2026lowest value
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026
08-2026: 0.5%▲ +0.1 percentage points vs 07-2026
09-2026: 0.8%▲ +0.3 percentage points vs 08-2026
10-2026: 0.8%● unchanged vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Loss of €69,004 (financial year 2025)
Negative equity -€75,873
lowers risk
Size: total assets €401,802
Sector: Real estate activities (NACE 68)
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 68, micro). It does better than 10% of them on solvency, 7% on liquidity, 4% on profitability and 1% 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 low class on 30-06-2025, 0.8% 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, 7,639 companies had the same profile as CONSTRUCT 23 has now. Each dot stands for 20 companies, two years later.
84.8%
were still trading
5.6%
stopped another way
8.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CONSTRUCT 23 itself is lower: 0.8% within 12 months. It rests on far more data about CONSTRUCT 23 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.
| 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 7,639 companies, not a prediction for CONSTRUCT 23. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.84 (0.92 in 2024), below 1. Short-term debt is 118.9% and cash 3.6% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year -€75,873
raises risk · 2025 accounts filed 29 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filingsDeviation from the deadline
2025
29 days late
2024
29 days late
2023
20 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 26 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 29 August (3 of the last 3 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Van ceulebroeck Lucdeed of 27-06-2023
- Van Dousselaere Vickydeed of 27-06-2023
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0801246229
Capital increase of €50,000 to €60,000
Capital from €10,000 to €60,000 · Contributions: Van ceulebroeck Luc (€25,000); Van Dousselaere Vicky (€25,000) · Gazette deed
Incorporation
Founding capital of €10,000 · Founders: VAN CEULEBROECK Luc René Maurice and VAN DOUSSELAERE Vicky Robert Denise · Appointments: VAN CEULEBROECK Luc René Maurice (director) and VAN DOUSSELAERE Vicky Robert Denise (director) · published on 02-05-2023 · Gazette deed
First establishment
Hoorndriesstraat 12, Merelbeke-Melle
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CONSTRUCT 23 Merelbeke-Melle | €401,802 | -€53,327 | -18.9% | - |
| V.O.D.B projects Dendermonde | €381,666 | -€1,688 | 1.6% | - |
| CAN-Property Deinze | €326,004 | -€4,047 | -21.1% | - |
| Thar Oosterzele | €415,534 | -€3,946 | 80.3% | - |
| MC2D Liège | €423,778 | -€4,410 | -17.0% | - |
| DOGETHER Kortrijk | €405,296 | -€1,720 | -2.2% | - |
| BATI-HOME INVEST Dalhem | €373,561 | -€6,527 | 0.6% | - |
These companies have the same main activity as CONSTRUCT 23: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €326,000 and €424,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 27-04-2023Normal situation
- Activity
- Buying and selling of own real estateNACE 68110and 5 others
- Establishment unit
- 2.346.089.1149820 Merelbeke-Melle, since 27-04-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 27-05-2025
Insights on CONSTRUCT 23
CONSTRUCT 23 files the micro format. That format states no turnover. The gross margin fell from -€22,184 in 2023 to -€53,327 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CONSTRUCT 23
- What is the company number of CONSTRUCT 23?
- The company number of CONSTRUCT 23 is 0801.246.229. The VAT number is the same number with BE in front: BE 0801.246.229.
- Where is CONSTRUCT 23 based?
- The registered office is at Hoorndriesstraat 12, 9820 Merelbeke-Melle.Company details
- What does CONSTRUCT 23 do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of CONSTRUCT 23?
- CONSTRUCT 23 is a private limited company (BV).
- When was CONSTRUCT 23 founded?
- CONSTRUCT 23 was founded on 27-04-2023.
- Is CONSTRUCT 23 still active?
- Yes, CONSTRUCT 23 is an active enterprise in the KBO register.
- What is the turnover of CONSTRUCT 23?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is CONSTRUCT 23 profitable?
- In financial year 2025, CONSTRUCT 23 made a loss of €69,004.
- Where can I find the annual accounts of CONSTRUCT 23?
- CONSTRUCT 23 filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CONSTRUCT 23 due?
- CONSTRUCT 23 must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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