Summary
Construct - Ives is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €116,866 and a net result of €4,506. Equity is growing by about 8.7% per year across the filed financial years. Its solvency ranks better than 18% of 9,728 sector peers (NACE 64, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Activities of holding companies
NACE 64210
2 sites
Size
€976,054total assets 2025
- Equity
- €116,866
- Profit
- €4,506
Turnover not published (micro format)
Financial health
Financial institution: outside the modelBankruptcy probability: sector outside the model
Signalsraises riskWeak solvency vs sectorneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Bankruptcy probability, 12 months
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Two signals.
raises riskneutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 9728 sector peers (2025).
NBB · sector comparisonPosition among 9728 sector peers
Solvency
better than 18%
← weakest
strongest →
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 02-07-2026, 29 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
29 days early
2024
27 days early
2023
on the day
2022
21 days early
2021
131 days early
2020
1 day early
2019
35 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 35 days before the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% 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 4 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · micro…
- Appointment: llse De Paepe (director)Gazette deed
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
Equity
€116,866▲ 4.0%
2024 · €112,360
Net result
€4,506▼ 76.8%
2024 · €19,396
Total assets
€976,054▲ 1.3%
2024 · €963,137
Solvency
12.0%▲ 0.3pp
2024 · 11.7%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 24% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.04m
2025
Net result€0.005m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.0m
2025
Equity€0.1m
2025
Debt€0.9m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.1m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency12.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.42
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.04m-€0.06m▲ 44.3%€0.07m▲ 29.0%€0.1m▲ 97.0%-€0.002m€0.06m€0.04m▼ 24.0%
Net result€0.03m-€0.04mwithin the sector's middle half▲ 43.2%€0.06mwithin the sector's middle half▲ 29.6%€0.1mabove the sector's middle half▲ 99.1%-€0.03mbelow the sector's middle half€0.02mwithin the sector's middle half€0.005mwithin the sector's middle half▼ 76.8%
Equity€0.04m-€0.08mwithin the sector's middle half▲ 123%€0.1mwithin the sector's middle half▲ 71.6%€0.1mwithin the sector's middle half▼ 13.3%€0.09mwithin the sector's middle half▼ 22.2%€0.1mwithin the sector's middle half▲ 20.9%€0.1mwithin the sector's middle half▲ 4.0%
Total assets€0.1m-€0.1mwithin the sector's middle half▲ 47.8%€0.2mwithin the sector's middle half▲ 39.3%€0.2mwithin the sector's middle half▼ 14.1%€1.0mabove the sector's middle half▲ 478%€1.0mabove the sector's middle half▼ 3.8%€1.0mabove the sector's middle half▲ 1.3%
Debt€0.06m-€0.06m▲ 4.0%€0.06m▼ 0.9%€0.05m▼ 15.9%€0.9m▲ 17×€0.9m▼ 6.3%€0.9m▲ 1.0%
Working capital€0.03m-€0.08mwithin the sector's middle half▲ 180%€0.1mwithin the sector's middle half▲ 78.4%€0.1mwithin the sector's middle half▼ 12.7%-€0.05mbelow the sector's middle half-€0.05mbelow the sector's middle half▲ 8.7%-€0.1mbelow the sector's middle half▼ 108%
Solvency36.7%-55.5%within the sector's middle half▲ 18.8pp68.3%within the sector's middle half▲ 12.9pp69.0%within the sector's middle half▲ 0.7pp9.3%below the sector's middle half▼ 59.7pp11.7%below the sector's middle half▲ 2.4pp12.0%below the sector's middle half▲ 0.3pp
Current ratio1.82-2.64within the sector's middle half▲ 0.823.35within the sector's middle half▲ 0.713.22within the sector's middle half▼ 0.120.59below the sector's middle half▼ 2.630.58below the sector's middle half▼ 0.010.42below the sector's middle half▼ 0.16
Return on assets (ROA)31.6%-30.6%above the sector's middle half▼ 1.0pp28.5%above the sector's middle half▼ 2.1pp66.1%above the sector's middle half▲ 37.6pp-2.7%below the sector's middle half▼ 68.7pp2.0%within the sector's middle half▲ 4.7pp0.5%below the sector's middle half▼ 1.6pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €976,054
Fixed assets
€906,703 ▲ 0.9%
Current assets
€69,351 ▲ 7.6%
Equity and liabilities €976,054
Equity
€116,866 ▲ 4.0%
Debt
€859,189 ▲ 1.0%
Debt's share of the balance-sheet total falls from 88.3% to 88.0%. Equity and debt are higher.
Key figures and ratios
ROE
3.9%▼
2024 · 17.3%
Debt ≤ 1 year
€166,090▲
2024 · €110,905
Debt > 1 year
€687,734▼
2024 · €735,212
Income taxes
€2,811▲
2024 · €364
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,644 | €15,992 | €14,764 | €6,628 | €52,814 | €35,006 | €71,685 | ▲ 105% |
| Other operating charges640/8 | - | - | - | €1,606 | €2,861 | €3,801 | €3,822 | ▲ 0.6% |
| Gross operating margin9900 | €50,240 | €74,775 | €89,836 | €155,292 | €53,827 | €95,712 | €118,775 | ▲ 24.1% |
| Operating profit (loss)9901 | €40,107 | €57,862 | €74,642 | €147,058 | -€1,848 | €56,905 | €43,268 | ▼ 24.0% |
| Financial income75/76B | - | - | - | €1,436 | €0 | €3 | €0 | ▼ 96.3% |
| Recurring financial income75 | - | - | €0 | €1,436 | €0 | €3 | €0 | ▼ 96.3% |
| Financial charges65/66B | - | - | - | €285 | €24,319 | €37,148 | €35,952 | ▼ 3.2% |
| Recurring financial charges65 | €320 | €359 | €313 | €285 | €24,319 | €37,148 | €35,952 | ▼ 3.2% |
| Profit (loss) for the period before taxes9903 | €39,786 | €57,503 | €74,329 | €148,209 | -€26,167 | €19,760 | €7,316 | ▼ 63.0% |
| Income taxes67/77 | €8,800 | €13,122 | €16,821 | €33,704 | €375 | €364 | €2,811 | ▲ 673% |
| Profit (loss) for the period9904 | €30,986 | €44,381 | €57,508 | €114,505 | -€26,541 | €19,396 | €4,506 | ▼ 76.8% |
| Profit (loss) for the period to be appropriated9905 | €30,986 | €44,381 | €57,508 | €114,505 | -€26,541 | €19,396 | €4,506 | ▼ 76.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.1m | €0.1m | €0.2m | €0.2m | €1.0m | €1.0m | €1.0m | ▲ 1.3% |
| Formation expenses20 | €0.001m | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €0.04m | €0.02m | €0.007m | €0 | €0.9m | €0.9m | €0.9m | ▲ 0.9% |
| Tangible fixed assets22/27 | €0.04m | €0.02m | €0.007m | €0 | €0.9m | €0.9m | €0.9m | ▲ 0.9% |
| Land and buildings22 | - | - | - | - | €0.9m | €0.9m | €0.9m | ▲ 0.7% |
| Plant, machinery and equipment23 | - | - | - | - | €0.001m | €0.001m | €0.002m | ▲ 141% |
| Furniture and vehicles24 | - | - | - | €0 | €0.002m | €0.007m | €0.008m | ▲ 14.7% |
| Current assets29/58 | €0.06m | €0.1m | €0.2m | €0.2m | €0.07m | €0.06m | €0.07m | ▲ 7.6% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | €0.02m | €0.07m | €0.04m | €0.05m | €0.05m | ▲ 11.1% |
| Trade receivables40 | - | - | - | €0.07m | €0.02m | €0.03m | €0.04m | ▲ 36.7% |
| Other amounts receivable41 | - | - | - | €0.001m | €0.02m | €0.02m | €0.01m | ▼ 23.7% |
| Current investments50/53 | - | €0.02m | €0.05m | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €0.04m | €0.09m | €0.1m | €0.1m | €0.03m | €0.02m | €0.02m | ▼ 1.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 16.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.1m | €0.1m | €0.2m | €0.2m | €1.0m | €1.0m | €1.0m | ▲ 1.3% |
| Equity10/15 | €0.04m | €0.08m | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | ▲ 4.0% |
| Contributions10/11 | - | - | - | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Reserves13 | €0.03m | €0.08m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | - | - | - | €0 | -€0.03m | -€0.007m | -€0.003m | ▲ 63.1% |
| Amounts payable17/49 | €0.06m | €0.06m | €0.06m | €0.05m | €0.9m | €0.9m | €0.9m | ▲ 1.0% |
| Amounts payable after more than one year17 | €0.03m | €0.02m | €0.006m | €0 | €0.8m | €0.7m | €0.7m | ▼ 6.5% |
| Financial debts170/4 | - | - | - | €0 | €0.8m | €0.7m | €0.7m | ▼ 6.5% |
| Amounts payable within one year42/48 | €0.03m | €0.05m | €0.06m | €0.05m | €0.1m | €0.1m | €0.2m | ▲ 49.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.007m | €0.04m | €0.05m | €0.05m | ▲ 3.8% |
| Trade debts44 | €0.001m | €0.002m | €0.01m | €0.02m | €0.04m | €0.004m | €0.005m | ▲ 16.4% |
| Suppliers440/4 | - | - | - | €0.02m | €0.04m | €0.004m | €0.005m | ▲ 16.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.004m | €0.01m | €0.02m | ▲ 35.3% |
| Taxes450/3 | - | - | - | €0.02m | €0.004m | €0.01m | €0.01m | ▲ 43.0% |
| Remuneration and social security454/9 | - | - | - | €0.002m | €0 | €0.002m | €0.002m | = |
| Other amounts payable47/48 | - | - | - | €0.005m | €0.04m | €0.05m | €0.1m | ▲ 99.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.003m | €0.005m | €0.005m | ▲ 15.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,986 | €44,381 | €57,508 | €114,505 | -€26,541 | €19,396 | €4,506 | ▼ 76.8% |
| + Depreciation and write-downs630 | €9,644 | €15,992 | €14,764 | €6,628 | €52,814 | €35,006 | €71,685 | ▲ 105% |
| Operating cash flow (approximation) | €40,630 | €60,372 | €72,271 | €121,133 | €26,273 | €54,402 | €76,191 | ▲ 40.1% |
| Investment in fixed assets (approximation) | - | -€1,228 | €0 | €0 | -€980,362 | -€6,142 | -€79,705 | ▼ 1,198% |
| Change in cash | - | €45,176 | €35,349 | -€18,062 | -€74,692 | -€11,822 | -€331 | ▲ 97.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 02-07-2026 | 2026-00242741 |
| 31-12-2024 | micro format | 04-07-2025 | 2025-00240241 |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00315423 |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00220221 |
| 31-12-2021 | micro format | 22-03-2022 | 2022-08100541 |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43200566 |
| 31-12-2019 | micro format | 26-06-2020 | 2020-22600384 |
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Of the 24,459 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,049. 12,905 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 director, last change in 2024
llse De Paepe
CurrentDirector · since 01-06-2024
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
1 of this company's 2 Belgian Official Gazette deeds has not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
1 person since 2024, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| llse De Paepe |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
financial year 2025 · micro format
2025
25-09
Gazette deed
Appointment: llse De Paepe (director)2 facts ▸
Gazette deed
Appointment: llse De Paepe (director)
2 facts ▸
- General meeting, 30-05-2024
- Director appointment, llse De Paepe (director)
04-07
NBB filing
Annual accounts filed
financial year 2024 · micro format
2024
31-12
Financial
Back to profitnet €19,396
Net result €19,396 after one loss-making year.
31-12
Financial
Equity above €100,000equity €112,360 ▲20.9%
Equity rises from €92,964 to €112,360.
31-07
NBB filing
Annual accounts filed
financial year 2023 · micro format
2023
31-12
Financial
Weakest financial yearnet -€26,541
Net result drops to -€26,541, the lowest in the series; recovery starts the following year.
10-07
NBB filing
Annual accounts filed
financial year 2022 · micro format
2022
31-12
Financial
Highest result from 2019 to 2025net €114,505 ▲99.1%
Operating result €147,058, net result €114,505, both a record.
22-03
NBB filing
Annual accounts filed
financial year 2021 · micro format
2021
31-12
Financial
Equity above €100,000equity €137,875 ▲71.6%
A profit in every financial year since 2019 builds equity to €137,875.
30-07
NBB filing
Annual accounts filed
financial year 2020 · micro format
2020
26-06
NBB filing
Annual accounts filed
financial year 2019 · micro format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
1 of 2 deeds read
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company
Founded13-06-2019
Financial year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0728475641
Also
9925:BE0728475641
Registered
27-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits
1 application in Flanders since 2025 · 1 granted
Hoogstammige bomen vellen die geen deel uitmaken van een bos; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Verbouwen en/of uitbreiden met functiewijziging, maar zonder wijziging van het aantal woongelegenheden; Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Deinze · 2 establishment units since 2019
Ground area
2,271 m²
Building footprint
372 m²
Building volume
2,292 m³
2 parcels, Flanders · tallest building 13.5 m. Linked by address, not a title deed.
2 establishment units
Construct - Ives
since 2019unit no. 2.290.133.772
Onder de toren
since 2024unit no. 2.359.315.459
2 parcels
Flanders
2
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44027B0693/00C000 | Flanders | 1,551 m² | 1 · 214 m² | 13.5 m · 3 |
| 44027A0844/00B000 | Flanders | 721 m² | 1 · 157 m² | 9.3 m · 1 |
How the parcels are linked
Good to know
Both parcels match the address exactly.
1 of these parcels carries protected heritage: expect extra rules on renovation or sale.
Articles of association
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
Read from the deeds: 1 provision, deed of 25-09-2025