CONSTRUCTION LINK
ActiveSummary
CONSTRUCTION LINK has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.0m and a net result of €137,398. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 9722 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €290,000 at 30 days acceptable
Liquidity ample (current ratio 2.18 against 2.34 in 2024; short-term debt: 2.3% and cash: 0% of total assets), and 2.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
97.7%
Return on assets
3.4%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
55 d late
2024
24 d early
2023
23 d early
2022
26 d early
2021
25 d early
2020
18 d early
2019
22 d 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 12 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 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?GHELAMCO GROUP · 66 companies How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€137,398▼ 7.1%
2024 · €147,824
Working capital
€109,093▼ 7.1%
2024 · €117,400
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Operating result-€142,582▼ 69.3%-€39,916▲ 72.0%-€21,708▲ 45.6%-€13,944▲ 35.8%-€9,966▲ 28.5%
Net result€2,902within the sector's middle half▼ 97.5%€19,331within the sector's middle half▲ 566%€135,735above the sector's middle half▲ 602%€147,824above the sector's middle half▲ 8.9%€137,398▼ 7.1%
Equity€3.6mabove the sector's middle half▲ 0.1%€3.6mabove the sector's middle half▲ 0.5%€3.7mabove the sector's middle half▲ 3.8%€3.9mabove the sector's middle half▲ 4.0%€4.0m▲ 3.6%
Total assets€3.6mwithin the sector's middle half▼ 59.0%€3.6mwithin the sector's middle half▲ 0.4%€3.8mwithin the sector's middle half▲ 5.4%€3.9mwithin the sector's middle half▲ 2.7%€4.1m▲ 3.6%
Debt€77,758▼ 98.5%€71,493▼ 8.1%€132,866▲ 85.8%€87,417▼ 34.2%€92,110▲ 5.4%
Working capital€3.6m▲ 0.1%€3.6m▲ 0.5%€153,301▼ 95.7%€117,400▼ 23.4%€109,093▼ 7.1%
Solvency97.9%above the sector's middle half▲ 57.8pp98.0%above the sector's middle half▲ 0.2pp96.5%above the sector's middle half▼ 1.5pp97.8%above the sector's middle half▲ 1.2pp97.7%=
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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 €9,966 in 2025 against €13,944 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€3.9m ▲ 3.9%
Current assets
€201,203 ▼ 1.8%
Equity and liabilities €4.1m
Equity
€4.0m ▲ 3.6%
Debt
€92,110 ▲ 5.4%
Debt's share of the balance-sheet total stays at 2.3%.
Key figures and ratios
Current ratio
2.18▼
2024 · 2.34
Debt to equity
0.02▲
2024 · 0.02
ROE
3.4%▼
2024 · 3.8%
ROA
3.4%▼
2024 · 3.7%
Debt ≤ 1 year
€92,110▲
2024 · €87,417
Income taxes
€50,016▼
2024 · €55,371
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €3,226 | €980 | €1,375 | €1,094 | €1,157 | ▲ 5.8% |
| Gross operating margin9900 | -€139,356 | -€38,936 | -€20,332 | -€12,851 | -€8,809 | ▲ 31.4% |
| Operating profit (loss)9901 | -€142,582 | -€39,916 | -€21,708 | -€13,944 | -€9,966 | ▲ 28.5% |
| Financial income75/76B | €158,296 | €74,174 | €211,553 | €232,329 | €202,705 | ▼ 12.8% |
| Recurring financial income75 | €158,296 | €74,174 | €211,553 | €232,329 | €202,705 | ▼ 12.8% |
| Financial charges65/66B | €9,572 | €7,889 | €4,589 | €15,190 | €5,325 | ▼ 64.9% |
| Recurring financial charges65 | €9,572 | €7,889 | €4,589 | €15,190 | €5,325 | ▼ 64.9% |
| Profit (loss) for the period before taxes9903 | €6,142 | €26,368 | €185,256 | €203,195 | €187,414 | ▼ 7.8% |
| Income taxes67/77 | €3,241 | €7,037 | €49,521 | €55,371 | €50,016 | ▼ 9.7% |
| Profit (loss) for the period9904 | €2,902 | €19,331 | €135,735 | €147,824 | €137,398 | ▼ 7.1% |
| Profit (loss) for the period to be appropriated9905 | €2,902 | €19,331 | €135,735 | €147,824 | €137,398 | ▼ 7.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.6m | €3.6m | €3.8m | €3.9m | €4.1m | ▲ 3.6% |
| Fixed assets21/28 | - | - | €3.6m | €3.7m | €3.9m | ▲ 3.9% |
| Financial fixed assets28 | - | - | €3.6m | €3.7m | €3.9m | ▲ 3.9% |
| Current assets29/58 | €3.6m | €3.6m | €286,167 | €204,817 | €201,203 | ▼ 1.8% |
| Amounts receivable within one year40/41 | €2.9m | €2.9m | €285,651 | €204,011 | €201,146 | ▼ 1.4% |
| Trade receivables40 | €617,072 | €285,569 | €283,711 | €200,000 | €200,000 | = |
| Other amounts receivable41 | €2.3m | €2.6m | €1,940 | €4,011 | €1,146 | ▼ 71.4% |
| Cash at bank and in hand54/58 | €36,326 | €664 | €515 | €806 | €56 | ▼ 93.0% |
| Deferred charges and accrued income490/1 | €686,313 | €760,487 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.6m | €3.6m | €3.8m | €3.9m | €4.1m | ▲ 3.6% |
| Equity10/15 | €3.6m | €3.6m | €3.7m | €3.9m | €4.0m | ▲ 3.6% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Capital10 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Issued capital100 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Reserves13 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Non-distributable reserves130/1 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Legal reserve130 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | €3.3m | €3.3m | €3.4m | €3.6m | €3.7m | ▲ 3.8% |
| Amounts payable17/49 | €77,758 | €71,493 | €132,866 | €87,417 | €92,110 | ▲ 5.4% |
| Amounts payable within one year42/48 | €77,758 | €71,493 | €132,866 | €87,417 | €92,110 | ▲ 5.4% |
| Trade debts44 | €68,492 | €62,817 | €82,632 | €32,047 | €42,094 | ▲ 31.4% |
| Suppliers440/4 | €68,492 | €62,817 | €82,632 | €32,047 | €42,094 | ▲ 31.4% |
| Taxes, remuneration and social security45 | €9,266 | €8,677 | €50,234 | €55,371 | €50,016 | ▼ 9.7% |
| Taxes450/3 | €9,266 | €8,677 | €50,234 | €55,371 | €50,016 | ▼ 9.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,902 | €19,331 | €135,735 | €147,824 | €137,398 | ▼ 7.1% |
| Operating cash flow (approximation) | €2,902 | €19,331 | €135,735 | €147,824 | €137,398 | ▼ 7.1% |
| Investment in fixed assets (approximation) | - | - | - | -€183,725 | -€145,705 | ▲ 20.7% |
| Change in cash | - | -€35,663 | -€148 | €290 | -€750 | ▼ 358% |
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
24-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 55 days late
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 28current ratio 46.68
Current ratio from 1.67 to 46.68; short-term debt falls from €5.3m to €77,758.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €12.3m
Net result €12.3m after one loss-making year.
31-12
Financial
Liquidity times 40current ratio 1.64
Current ratio from 0.04 to 1.64; short-term debt falls from €52.9m to €5.4m.
31-12
Financial
Equity above €2mEq €3.4m
Equity rises from -€1.4m to €3.4m.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
19-10
State Gazette act
Merger · Permanent representative
Capital · Capital increase
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Ieper · 1 establishment unit since 2016
Ground area
5,629 m²
Building footprint
1,997 m²
Volume, LiDAR
14,036 m³
Parcel 33305B1021/00D002, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
88
companies at this address
See who is registered here
1 establishment unit
Construction Link
since 20162.252.050.087
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33305B1021/00D002 | Flanders | 5,629 m² | 1 · 1,997 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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
GHELAMCO GROUP
66 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- GHELAMCO GROUP
- GHELAMCO INVEST
- CONSTRUCTION LINK
Highest known parent: GHELAMCO GROUP. The sources do not say who stands above it.
Owners 1
-
99.6%
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.
Acquisitions and mergers
1 transactionTook over:KUBEL
Recognitions · licences · registrations
Legal Entity Identifier
549300ZT47H2V6MPP282
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Of 1,294 companies in sector 68122 we hold annual accounts for 903. 414 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
Founded22-02-2016
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
68110Buying and selling of own real estate
68121Development of residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
71113Urban planning and landscape architecture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0648878728
Also
9925:BE0648878728
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.