Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of Construct CSE 2 Equilis is 0.9% (low). The 2024 annual accounts show negative equity (€-5k) and a net result of €-33k. Equity is shrinking by ~76.1% per year across the filed fiscal years. Its solvency ranks better than 25% of 776 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.9%
Low
0%0,5%1,5%4%10%≥25%
Young company
+Lower-failure-rate sector
−Annual accounts: weaker financial profile
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Trust signals
2 signalsMore than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-33k-241.6%
Working capital€5.52M+343.4%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 04-07-2025 with the NBB · fiscal year 2024 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~76.1%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 68, Real estate activities · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -0.1% | 16.5% | |
| Net result | €-33k | €-2k | |
| Equity | €-5k | €136k | |
| Total assets | €5.67M | €1.72M |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P25
Stable position over 2022-2024
· n=547-776
P30
Stable position over 2022-2024
· n=545-774
P24
Stable position over 2022-2024
· n=547-776
P74
Improving position over 2022-2024
· n=547-776
Describes the position versus peers, not a forecast.
€-33k
-241.6%
22-24
€5.67M
+351.9%
22-24
€-5k
-
22-24
€5.52M
+343.4%
22-24
€5.68M
+362.7%
22-24
€153k
+1358.0%
22-24
€5.53M
+354.2%
22-24
37.20
-69.0%
22-24
1.05
-91.9%
22-24
-0.1%
-
22-24
-1134.66
-
22-24
664.6%
-
22-24
-0.6%
+24.4%
22-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Revenue | - |
| EBITDA | - |
| Net profit | €-33k |
| Cash flow | - |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €5.67M |
| Equity | €-5k |
| Debt | €5.68M |
| of which ≤ 1y | €153k |
| of which > 1y | €5.53M |
| Working capital | €5.52M |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 37.20 |
| Quick ratio | 1.05 |
| Working capital ratio | 97.3% |
| Solvency | -0.1% |
| Debt / equity | -1134.66 |
| Long-term debt ratio | -1104.18 |
| Interest coverage | - |
| Gross margin | - |
| Net margin | - |
| ROA | -0.6% |
| ROE | 664.6% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €5.67M |
| Current assets | 29/58 | €5.67M |
| Stocks & contracts in progress | 3 | €5.51M |
| Amounts receivable within one year | 40/41 | €128k |
| Cash & bank | 54/58 | €33k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €5.67M |
| Equity | 10/15 | €-5k |
| Contributions / capital | 10/11 | €62k |
| Accumulated profits (losses) | 14 | €-67k |
| Amounts payable | 17/49 | €5.68M |
| Amounts payable after one year | 17 | €5.53M |
| Amounts payable within one year | 42/48 | €153k |
| Trade debts payable within one year | 44 | €153k |
| Income statement | ||
| Operating result | 9901 | €-33k |
| Financial charges | 65 | €616 |
| Result before taxes | 9903 | €-33k |
| Net result for the period | 9904 | €-33k |
| Result to be appropriated | 9905 | €-33k |
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed47
/ 100
Fair
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
4 directorsCurrent directors & mandates
-
Current22-01-2025 → present
2 events
- 22-01-2025 Appointed· Director
- 22-01-2025 Appointed· Managing director
Former directors (3)
-
Meeùs & Parmentier PropertiesLegal entityDirector· perm. rep.: Luc ParmentierState Gazette act 23014089 (27-01-2023)Former27-01-2023 → 11-12-2024
2 events
- 11-12-2024 Resigned· Managing director
- 27-01-2023 Appointed· Director
-
F.O.A Management sriLegal entityDirector· perm. rep.: Nadia VranckenState Gazette act 22114241 (26-09-2022)Former- → 26-09-2022
-
F.O.A. Management srlLegal entityManaging director· perm. rep.: Nadia VranckenState Gazette act 22114241 (26-09-2022)Former- → 26-09-2022
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Statutory auditor
1 auditor| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| RSM InterAudit SACurrent Statutory auditor · represented by Vincent Thyrion |
- | 03-04-2025 → present |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Ontwikkeling van residentiële bouwprojecten(68121) |
| Legal form | Public limited company(014) |
| Incorporation | 01-09-2021 |
| Status | Active |
| Postal code | 1410 |
Structure & network
Connections & network
29 connected companiesGroup structure
Parent · 15 subsidiaries · 1 location
Control→
Parent · 26 subsidiaries · 1 location
Control→
Network connections
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Parcels1
Ground area1.0 ha
Buildings1
Building footprint1,772 m²
Volume (LiDAR)33,713 m³
Tallest building22.9 m · ±6 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0621/00F000indicative | Wallonia | 1.0 ha | 1 · 1,772 m² | 22.9 m · 6 fl. |
Methodology
via registered seat: 1
0 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
7 acts All acts · 7
updated 4 months ago
2026
02-04-2026 Act object · General meeting · Officer resignation · Officer discharge
- Filing: 2026-03-23 · CONSTRUCT CSE 2 EQUILIS
- Publication: 2026-04-02 · CONSTRUCT CSE 2 EQUILIS
- Act object: DEMISSION ET NOMINATION D'UN ADMINISTRATEUR · CONSTRUCT CSE 2 EQUILIS
- General meeting: 2026-02-25 · CONSTRUCT CSE 2 EQUILIS
- Officer resignation: 2025-12-22 · ABSolute Consulting SRL
- Officer discharge: 2025-12-22 · ABSolute Consulting SRL
- Officer appointment: 2025-12-22 · KEYSTONE SRL
- Mandate term: 2031 · KEYSTONE SRL
- Mandate compensation: gratuit · KEYSTONE SRL
- Power of attorney: individuellement avec pouvoir de subdélégation · Guillaume Hellebaut
- Power of attorney: individuellement avec pouvoir de subdélégation · Jean-Matthieu Jonet
Summary:
Act object · General meeting · Officer resignation · Officer discharge
2025
29-08-2025 Vincent Thyrion reappointed as statutory auditor
03-04-2025 1 director appointed, 1 reappointed
01-04-2025 2 directors appointed, 1 resigning
- Guillaume Beuscart, Bestuurder
- Guillaume Beuscart, Gedelegeerd bestuurder
- Luc Parmentier, Gedelegeerd bestuurder
Summary:
v3.2
2023
27-01-2023 Luc Parmentier appointed as director
2022
26-09-2022 2 resigning
- Nadia Vrancken, Bestuurder
- Nadia Vrancken, Gedelegeerd bestuurder
Summary:
v3.2
2021
03-09-2021 Incorporation of a new SNC
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes68
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
47
Profitability
100
Solvency
67
Growth
32
Stability
94
Ask AI about this company
Checked AISoon: ask questions about this dossier, risks, curator, sector comparison, answered from the official data on this page.
TryWhat are the main risks?Any recent red flags?Compare to sector peers
Coming soonAI due-diligence brief
Checked AIGenerate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
Coming soon
The brief is drafted by our AI model at Anthropic in the US, from this dossier's public data. Nothing that identifies you is sent along and we do not keep the brief. Indicative, not legal or investment advice. How it works
Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, nearest firstCompany registry
Company registry (CBE)
Crossroads BankActivities
Ontwikkeling van residentiële bouwprojecten41101Ontwikkeling van residentiële bouwprojecten68121Ontwikkeling van niet-residentiële bouwprojecten41102Ontwikkeling van niet-residentiële bouwprojecten68122
Primary activity highlighted.
Names & trade names
| Legal nameFR | Construct CSE 2 Equilis |
| AbbreviationFR | CCSE2 |
Registered office
Drève Richelle 161 Bat D bus 19
1410 Waterloo, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.