CONSTRUCT ME
ActiveSummary
CONSTRUCT ME has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€7.3m) and a net result of -€398,948. Equity is shrinking by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 842 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▲+6
Solvency0=
Growth22=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 4.39 against 6.26 in 2024; short-term debt: 22.8% and cash: 15% of total assets), but equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-185.5%
Return on assets
-10.2%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€7.3m
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
27 d early
2023
21 d late
2022
28 d early
2021
12 d early
2020
17 d early
2019
53 d late
← 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 5 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?JEC INVEST · 31 companies
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Financials · fiscal year 2025, full schema
In the rankings
#4 company by total assets in Waterloo, Construction sector
Turnover
€34,400▼ 72.3%
2024 · €124,400
EBIT margin
-330.9%▼ 304.3pp
2024 · -26.6%
Net result
-€398,948▼ 4.7%
2024 · -€381,210
Working capital
€3.0m▲ 17.2%
2024 · €2.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€425,000€39.4m▲ 9,182%€124,400€34,400▼ 72.3%
Operating result€1.7m▼ 47.9%-€6.3m-€508,267▲ 91.9%-€33,031▲ 93.5%-€113,818▼ 245%
Net result€1.5mabove the sector's middle half▼ 43.3%-€6.4mbelow the sector's middle half-€673,642below the sector's middle half▲ 89.5%-€381,210below the sector's middle half▲ 43.4%-€398,948below the sector's middle half▼ 4.7%
EBIT margin394.6%-15.9%▼ 410.5pp-26.6%-330.9%▼ 304.3pp
Equity€624,274within the sector's middle half-€5.8mbelow the sector's middle half-€6.5mbelow the sector's middle half▼ 11.6%-€6.9mbelow the sector's middle half▼ 5.9%-€7.3mbelow the sector's middle half▼ 5.8%
Total assets€17.3mabove the sector's middle half▲ 8.3%€4.8mwithin the sector's middle half▼ 72.0%€3.0mwithin the sector's middle half▼ 37.0%€3.1mwithin the sector's middle half▲ 0.6%€3.9mwithin the sector's middle half▲ 27.6%
Debt€15.8m▼ 6.0%€10.0m▼ 36.5%€9.0m▼ 10.6%€9.3m▲ 3.9%€10.6m▲ 13.3%
Working capital€11.3m▲ 81.7%€3.6m▼ 68.4%€2.5m▼ 31.0%€2.6m▲ 4.2%€3.0m▲ 17.2%
Solvency3.6%below the sector's middle half▲ 8.8pp-119.8%below the sector's middle half▼ 123.5pp-212.4%below the sector's middle half▼ 92.5pp-223.7%below the sector's middle half▼ 11.3pp-185.5%below the sector's middle half▲ 38.1pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €113,818 in 2025 against €33,031 in 2024; the loss grows.
Key figures and ratios
Current ratio
4.39▼
2024 · 6.26
Quick ratio
1.03▼
2024 · 2.29
Debt to equity
-1.46▼
2024 · -1.36
ROA
-10.2%▲
2024 · -12.4%
Debt ≤ 1 year
€891,066▲
2024 · €489,126
Debt > 1 year
€9.7m▲
2024 · €8.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 598 companies that looked in July 2024 the way this one looks now, 8.5% went bankrupt within 24 months and 83% are still going.
- Small
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
8.5%
went bankrupt
5.9%
stopped otherwise
83%
still going
A further 2.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 598 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €18.0m | -€1.8m | -€148,501 | €502,221 | €1.0m | ▲ 100% |
| Turnover70 | €425,000 | €39.4m | - | €124,400 | €34,400 | ▼ 72.3% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €16.9m | -€41.6m | -€797,292 | €1,217 | €958,913 | ▲ 78,672% |
| Other operating income74 | €658,129 | €321,412 | €645,191 | €376,604 | €11,350 | ▼ 97.0% |
| Non-recurring operating income76A | - | - | €3,600 | - | - | - |
| Operating charges60/66A | €16.3m | €4.4m | €359,766 | €535,252 | €1.1m | ▲ 109% |
| Goods for resale, raw materials and consumables60 | - | - | - | €79,089 | €22,597 | ▼ 71.4% |
| Purchases600/8 | - | - | - | €79,089 | €22,597 | ▼ 71.4% |
| Services and other goods61 | €15.4m | €4.7m | €361,313 | €339,128 | €1.1m | ▲ 222% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €878,237 | -€272,737 | -€58,000 | €46,500 | - | - |
| Other operating charges640/8 | €8,117 | €14,578 | €13,305 | €25,158 | €2,065 | ▼ 91.8% |
| Non-recurring operating charges66A | - | - | €43,149 | €45,377 | €413 | ▼ 99.1% |
| Operating profit (loss)9901 | €1.7m | -€6.3m | -€508,267 | -€33,031 | -€113,818 | ▼ 245% |
| Financial income75/76B | €26,209 | €75,697 | - | €10 | €38,843 | ▲ 384,101% |
| Recurring financial income75 | €26,209 | €75,697 | - | €10 | €38,843 | ▲ 384,101% |
| Income from financial fixed assets750 | €25,615 | €74,611 | - | €0 | - | - |
| Other financial income752/9 | €594 | €1,087 | - | €10 | €38,843 | ▲ 384,101% |
| Financial charges65/66B | €217,031 | €233,809 | €165,375 | €348,189 | €323,973 | ▼ 7.0% |
| Recurring financial charges65 | €217,031 | €233,809 | €165,375 | €348,189 | €323,973 | ▼ 7.0% |
| Debt charges650 | €25,615 | €118,543 | €156,582 | €340,087 | €279,928 | ▼ 17.7% |
| Other financial charges652/9 | €191,416 | €115,267 | €8,793 | €8,102 | €44,046 | ▲ 444% |
| Profit (loss) for the period before taxes9903 | €1.5m | -€6.4m | -€673,642 | -€381,210 | -€398,948 | ▼ 4.7% |
| Income taxes67/77 | €35,544 | €2,394 | - | - | - | - |
| Taxes670/3 | €36,541 | €2,394 | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | €997 | - | - | - | - | - |
| Profit (loss) for the period9904 | €1.5m | -€6.4m | -€673,642 | -€381,210 | -€398,948 | ▼ 4.7% |
| Profit (loss) for the period to be appropriated9905 | €1.5m | -€6.4m | -€673,642 | -€381,210 | -€398,948 | ▼ 4.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17.3m | €4.8m | €3.0m | €3.1m | €3.9m | ▲ 27.6% |
| Fixed assets21/28 | €1.2m | €700 | €0 | - | - | - |
| Tangible fixed assets22/27 | - | - | €0 | - | - | - |
| Furniture and vehicles24 | - | - | €0 | - | - | - |
| Other tangible fixed assets26 | - | - | €0 | - | - | - |
| Financial fixed assets28 | €1.2m | €700 | - | - | - | - |
| Affiliated companies280/1 | €1.2m | - | - | - | - | - |
| Amounts receivable281 | €1.2m | - | - | - | - | - |
| Other financial fixed assets284/8 | €700 | €700 | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | €700 | €700 | - | - | - | - |
| Current assets29/58 | €16.1m | €4.8m | €3.0m | €3.1m | €3.9m | ▲ 27.6% |
| Stocks and contracts in progress3 | €6.8m | €2.7m | €1.9m | €1.9m | €3.0m | ▲ 53.9% |
| Stocks30/36 | €233,330 | €293,760 | €293,760 | €214,671 | €192,074 | ▼ 10.5% |
| Property held for sale35 | €233,330 | €293,760 | €293,760 | €214,671 | €192,074 | ▼ 10.5% |
| Contracts in progress37 | €6.6m | €2.4m | €1.6m | €1.7m | €2.8m | ▲ 61.9% |
| Amounts receivable within one year40/41 | €7.8m | €258,736 | €244,728 | €214,562 | €320,205 | ▲ 49.2% |
| Trade receivables40 | €7.8m | €258,736 | €221,469 | €184,471 | €182,716 | ▼ 1.0% |
| Other amounts receivable41 | €10,000 | - | €23,259 | €30,091 | €137,489 | ▲ 357% |
| Cash at bank and in hand54/58 | €1.5m | €1.9m | €874,183 | €904,653 | €584,349 | ▼ 35.4% |
| Deferred charges and accrued income490/1 | €34,340 | €14,786 | - | - | €11,264 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17.3m | €4.8m | €3.0m | €3.1m | €3.9m | ▲ 27.6% |
| Equity10/15 | €624,274 | -€5.8m | -€6.5m | -€6.9m | -€7.3m | ▼ 5.8% |
| Contributions10/11 | €5.0m | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Capital10 | €5.0m | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Issued capital100 | €5.0m | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Profit (loss) carried forward14 | -€4.4m | -€10.8m | -€11.5m | -€11.9m | -€12.3m | ▼ 3.4% |
| Provisions and deferred taxes16 | €878,237 | €605,500 | €547,500 | €594,000 | €594,000 | = |
| Provisions for liabilities and charges160/5 | €878,237 | €605,500 | €547,500 | €594,000 | €594,000 | = |
| Major repairs and maintenance162 | €878,237 | €605,500 | €547,500 | €594,000 | €594,000 | = |
| Amounts payable17/49 | €15.8m | €10.0m | €9.0m | €9.3m | €10.6m | ▲ 13.3% |
| Amounts payable after more than one year17 | €11.0m | €8.8m | €8.4m | €8.8m | €9.7m | ▲ 9.5% |
| Other amounts payable178/9 | €11.0m | €8.8m | €8.4m | €8.8m | €9.7m | ▲ 9.5% |
| Amounts payable within one year42/48 | €4.7m | €1.3m | €575,738 | €489,126 | €891,066 | ▲ 82.2% |
| Financial debts43 | €1.3m | - | - | - | - | - |
| Credit institutions430/8 | €1.3m | - | - | - | - | - |
| Trade debts44 | €3.0m | €1.1m | €575,738 | €489,126 | €891,066 | ▲ 82.2% |
| Suppliers440/4 | €3.0m | €1.1m | €575,738 | €489,126 | €891,066 | ▲ 82.2% |
| Advances received on contracts in progress46 | - | - | €0 | - | - | - |
| Taxes, remuneration and social security45 | €454,634 | €157,065 | - | - | - | - |
| Taxes450/3 | €454,634 | €157,065 | - | - | - | - |
| Other amounts payable47/48 | €3,470 | €44,863 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.5m | -€6.4m | -€673,642 | -€381,210 | -€398,948 | ▼ 4.7% |
| Operating cash flow (approximation) | €1.5m | -€6.4m | -€673,642 | -€381,210 | -€398,948 | ▼ 4.7% |
| Investment in fixed assets (approximation) | - | €1.2m | €700 | - | - | - |
| Change in cash | - | €431,167 | -€1.0m | €30,470 | -€320,304 | ▼ 1,151% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 21 days late
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet -€6.4m
Net result drops to -€6.4m, the lowest in the series; recovery starts the following year.
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Liquidity doublescurrent ratio 3.39
Current ratio from 1.69 to 3.39; short-term debt falls from €9.0m to €4.7m.
31-12
Financial
Equity above €500,000Eq €624,274
2 profitable years in a row build equity to €624,274.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €2.6m
Net result €2.6m after one loss-making year.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 53 days late
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 24 days late
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 20 acts read
About the unread acts
We know of 20 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
20 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2012
Ground area
1.8 ha
Building footprint
3,621 m²
Volume, LiDAR
51,145 m³
2 parcels, Wallonia · tallest building 22.9 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Les Papeteries de Genval
since 20122.213.158.730
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0621/00F000indicative | Wallonia | 1.0 ha | 1 · 1,772 m² | 22.9 m · 6 fl. |
| 52028B0299/04G000 | Wallonia | 7,777 m² | 1 · 1,849 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
JEC INVEST
31 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- DUODEV
- CONSTRUCT ME
Highest known parent: DUODEV. The sources do not say who stands above it.
Owners 1
- DUODEVparentSourceaccounts DUODEV 2024100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 8,342 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded10-09-2012
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0848550951
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.