Equity
CONSTRUCT'A has made a profit in every financial year since 2020.
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 41, micro). It does better than 92% of them on solvency, 93% on liquidity, 60% on profitability and 56% on growth.
The bankruptcy probability was computed on 08-11-2026 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).
In July 2024, 26,972 companies had the same profile as CONSTRUCT'A has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CONSTRUCT'A itself is lower: 0.2% within 12 months. It rests on far more data about CONSTRUCT'A than the profile alone.
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 26,972 companies, not a prediction for CONSTRUCT'A. 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.
Liquidity is ample, with a current ratio of 4.57 (2.04 in 2024), above the usual 1.5. Short-term debt is 19.9% and cash 42.9% of total assets. 19.9% of the assets are financed with debt and provisions.
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.
The company filed its last 6 accounts on average 21 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CONSTRUCT'A Lierde | €194,760 | €32,803 | 80.1% | - |
| ELBA BOUW Oosterzele | €216,871 | €27,346 | 44.7% | - |
| Coppens Jurgen Haaltert | €236,312 | €37,842 | 68.8% | - |
| MRM Ascenseurs Zaventem | €191,369 | €32,980 | 57.5% | - |
| Kurt Philtjens Lummen | €189,763 | €33,836 | 68.8% | - |
| NOMATO Lessines | €192,236 | €34,109 | 10.3% | - |
| CJ DEPAN Walhain | €176,692 | €36,096 | 11.0% | - |
These companies have the same main activity as CONSTRUCT'A: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €177,000 and €236,000, founded between 2018 and 2020.
CONSTRUCT'A files the micro format. That format states no turnover. The gross margin fell from €115,349 in 2020 to €32,803 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €230,000. Estimated: probably between €130,000 and €410,000.
Higher than 88% of 9,452 companies in 2025.
Higher than 86% of 9,200 companies in 2025.
Higher than 55% of 9,272 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
194,760 | 248,469 | 237,443 | 163,732 | 151,468 | 119,840 | |
21/28 |
17,931 | 25,440 | 33,576 | 3,674 | 10,831 | 15,726 | |
22/27 |
15,931 | 23,440 | 31,576 | 1,674 | 8,831 | 15,726 | |
23 |
6,444 | 10,161 | 14,218 | 954 | - | - | |
24 |
9,487 | 13,280 | 17,358 | 720 | 8,831 | 15,726 | |
28 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | |
29/58 |
176,829 | 223,029 | 203,868 | 160,058 | 140,637 | 104,114 | |
29 |
85,000 | - | - | 15,000 | 15,000 | - | |
290 |
85,000 | - | - | 15,000 | 15,000 | - | |
40/41 |
7,578 | 107,828 | 6,524 | 16,290 | 10,890 | 14,437 | |
40 |
- | 25,040 | 3,217 | 15,890 | 10,890 | 12,100 | |
41 |
7,578 | 82,788 | 3,307 | 400 | - | 2,337 | |
54/58 |
83,575 | 114,422 | 197,343 | 128,465 | 114,269 | 89,677 | |
490/1 |
676 | 778 | - | 303 | 479 | - | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
194,760 | 248,469 | 237,443 | 163,732 | 151,468 | 119,840 | |
10/15 |
156,036 | 139,302 | 99,965 | 141,797 | 114,787 | 92,364 | |
10/11 |
6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |
13 |
150,036 | 133,302 | 93,965 | - | - | - | |
133 |
150,036 | 133,302 | 93,965 | - | - | - | |
14 |
- | - | - | 135,797 | 108,787 | 86,364 | |
17/49 |
38,724 | 109,168 | 137,478 | 21,935 | 36,681 | 27,476 | |
42/48 |
38,724 | 109,168 | 137,478 | 21,935 | 36,681 | 27,476 | |
42 |
2,691 | 8,825 | - | - | - | - | |
44 |
4,669 | 4,694 | 7,789 | 7,970 | 872 | 190 | |
440/4 |
4,669 | 4,694 | 7,789 | 7,970 | 872 | 190 | |
45 |
3,530 | 4,858 | 10,923 | 13,966 | 35,810 | 27,285 | |
450/3 |
927 | 865 | 8,320 | 11,107 | 33,206 | 24,985 | |
454/9 |
2,603 | 3,993 | 2,603 | 2,859 | 2,603 | 2,300 | |
47/48 |
27,835 | 90,791 | 118,767 | - | - | - | |
| Income statement | |||||||
9900 |
32,803 | 61,699 | 102,596 | 46,988 | 41,308 | 115,349 | |
62 |
2,093 | 2,107 | 1,672 | 1,982 | 1,901 | 2,736 | |
630 |
7,510 | 8,135 | 3,086 | 8,451 | 8,224 | 1,213 | |
640/8 |
1,338 | 1,343 | 1,373 | 1,041 | 1,582 | 695 | |
9901 |
21,863 | 50,115 | 96,465 | 35,512 | 29,602 | 110,704 | |
75/76B |
- | 0 | - | - | - | - | |
75 |
- | 0 | - | - | - | - | |
65/66B |
225 | 260 | 956 | 39 | 25 | 54 | |
65 |
225 | 260 | 956 | 39 | 25 | 54 | |
9903 |
21,638 | 49,855 | 95,509 | 35,473 | 29,577 | 110,650 | |
67/77 |
4,904 | 10,519 | 19,693 | 8,463 | 7,154 | 24,285 | |
9904 |
16,734 | 39,337 | 75,815 | 27,010 | 22,422 | 86,364 | |
9905 |
16,734 | 39,337 | 75,815 | 27,010 | 22,422 | 86,364 | |
| Appropriation of the result | |||||||
9906 |
16,734 | 39,337 | 211,612 | 135,797 | 108,787 | 86,364 | |
14P |
- | - | 135,797 | 108,787 | 86,364 | - | |
691/2 |
16,734 | 39,337 | 93,965 | - | - | - | |
6921 |
16,734 | 39,337 | 93,965 | - | - | - | |
694/7 |
- | - | 117,648 | - | - | - | |
694 |
- | - | 117,648 | - | - | - | |
| Document | |||||||
The notes to these accounts have 7 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 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00382687 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00442933 | |
| 31-12-2023 | micro format | 22-08-2024 | 2024-00359152 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00390303 | |
| 31-12-2021 | micro format | 16-08-2022 | 2022-20291162 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-62400461 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 29,372 | 58,250 | 99,551 | 43,964 | 37,825 | 111,918 | ||
| 24,244 | 47,472 | 78,901 | 35,462 | 30,646 | 87,578 | ||
| 0 | 0 | 32,987 | 1,295 | 3,328 | 16,940 | ||
| -30,847 | -82,921 | 68,878 | 14,197 | 24,591 | - | ||
| 138,105 | 113,861 | 66,389 | 138,123 | 103,956 | 76,638 | ||
| 80.1% | 56.1% | 42.1% | 86.6% | 75.8% | 77.1% | ||
| 4.57 | 2.04 | 1.48 | 7.30 | 3.83 | 3.79 | ||
| 0.25 | 0.78 | 1.38 | 0.15 | 0.32 | 0.30 | ||
| 10.7% | 28.2% | 75.8% | 19.0% | 19.5% | 93.5% | ||
| 8.6% | 15.8% | 31.9% | 16.5% | 14.8% | 72.1% | ||
| over 100 | over 100 | over 100 | over 100 | over 100 | - |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €32,987 | €1,295 | €1,328 |
| Financial fixed assets | - | - | - | - | €2,000 |
| €7,510 | €8,135 | €3,086 | €8,451 | €8,224 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 56% lower than in 2024 and the lowest since 2020. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 43.9% to 19.9%. Equity is higher and debt is lower.
CONSTRUCT'A has no parent and no holdings in its annual accounts. WATTHE ANDY is the only director.
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Kwaadstraat 37 registered office 9572 Lierde | 14-06-2019 | 2.290.253.439 |
| 13-09-2021 | Granted | Bouwen of herbouwen submitted 18-05-2021 · project 2021083376 | Geraardsbergen |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 45051A0429/00H000 | 958 m² | 1 · 196 m² | 9.0 m · 2 |
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. Use the enterprise number 0728.491.774
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