Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The micro format states no turnover.
Of this, €215,688 falls due within a year.
Green is investment, beige is depreciation.
Six of the last ten came late. The 2019 accounts came latest: 677 days after the end of the period.
Less equity than 95% of companies in construction of buildings. Sector median €45,781 · 10,155 companies.
In July 2024, 519 companies had the same profile as CORE CONSTRUCT has now. Each dot stands for 2 companies, two years later.
Another 1.5% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 519 companies, not a prediction for CORE CONSTRUCT. 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.
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.
| Company | ||||
|---|---|---|---|---|
| CORE CONSTRUCT Zaventem | €596,586 | €49,769 | -6.7% | - |
| BOAP Meise | €640,734 | €49,329 | 71.1% | - |
| BAWANET Entreprises Générales Schaerbeek | €615,292 | €51,572 | 60.0% | - |
| BEERNAERT FRANS Staden | €639,720 | €51,159 | 99.9% | - |
| PINTO & PINTO Beauvechain | €510,572 | €49,444 | 34.3% | - |
| RAWEBO Malle | €637,955 | €41,477 | 4.8% | - |
| INTER CITY BUILDING Aalst | €621,945 | €59,103 | 38.6% | - |
These companies have the same main activity as CORE CONSTRUCT: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €511,000 and €641,000, founded between 1999 and 2005.
CORE CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €8,622 in 2006 to €49,769 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
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 ≈ €350,000. Estimated: probably between €190,000 and €620,000.
Higher than 10% of 10,152 companies in 2025.
Lower than 95% of 9,863 companies in 2025.
Higher than 32% of 9,951 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2008 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
596,586 | 571,743 | 419,899 | 78,581 | 220,105 | 342,933 | 345,088 | 465,867 | 404,941 | 404,941 | 421,556 | 471,215 | 483,127 | 492,542 | 516,515 | 204,543 | 183,547 | 190,056 | |
21/28 |
590,354 | 544,315 | 402,557 | 78,277 | 75,084 | 342,839 | 342,839 | 465,541 | 404,941 | 404,941 | 421,490 | 445,174 | 468,858 | 492,542 | 516,226 | 164,234 | 179,819 | 188,907 | |
22/27 |
590,354 | 544,315 | 402,557 | 78,277 | 75,084 | 342,839 | 342,839 | 465,541 | 404,941 | 404,941 | 421,490 | 445,174 | 468,858 | 492,542 | 516,226 | 164,234 | 179,819 | 188,907 | |
22 |
590,234 | 544,075 | 402,197 | 77,797 | 54,779 | 342,239 | 342,239 | 461,036 | 401,036 | 401,036 | 413,680 | 433,460 | 453,239 | 473,019 | 492,798 | 136,902 | 144,677 | 149,860 | |
23 |
- | - | - | - | 600 | 600 | 600 | 600 | - | - | - | - | - | - | - | - | - | - | |
24 |
120 | 240 | 360 | 480 | 19,705 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
26 |
- | - | - | - | - | - | - | 3,905 | 3,905 | 3,905 | 7,809 | 11,714 | 15,619 | 19,523 | 23,428 | 27,333 | 35,142 | 39,046 | |
29/58 |
6,232 | 27,428 | 17,342 | 304 | 145,021 | 94 | 2,249 | 327 | - | - | 66 | 26,041 | 14,269 | - | 288 | 40,308 | 3,728 | 1,149 | |
40/41 |
2,216 | 3,926 | - | - | - | - | - | - | - | - | - | 24,239 | 14,267 | - | - | 32,000 | 3,185 | 903 | |
40 |
- | 1,200 | - | - | - | - | - | - | - | - | - | - | - | - | - | 25,000 | 3,185 | 903 | |
41 |
2,216 | 2,726 | - | - | - | - | - | - | - | - | - | 24,239 | 14,267 | - | - | 7,000 | - | - | |
50/53 |
- | - | - | - | - | - | - | 327 | - | - | - | - | - | - | - | - | - | - | |
54/58 |
2,571 | 23,502 | 17,342 | 304 | 145,021 | 94 | 2,249 | - | - | - | 66 | 3 | 2 | - | - | 8,308 | 249 | 246 | |
490/1 |
1,445 | - | - | - | - | - | - | - | - | - | - | 1,800 | - | - | 288 | - | 293 | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
596,586 | 571,743 | 419,899 | 78,581 | 220,105 | 342,933 | 345,088 | 465,867 | 404,941 | 404,941 | 421,556 | 471,215 | 483,127 | 492,542 | 516,515 | 204,543 | 183,547 | 190,056 | |
10/15 |
-39,811 | -48,182 | -9,352 | 15,653 | 64,066 | 99,800 | 102,382 | 1,517 | 16,076 | 16,076 | 11,718 | -22,905 | -31,283 | -32,136 | -43,154 | -23,790 | -19,639 | -11,386 | |
10/11 |
66,200 | 66,200 | 66,200 | 66,200 | 66,200 | 66,200 | 66,200 | 66,200 | 66,200 | 66,200 | 66,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | - | - | - | 66,200 | 66,200 | 66,200 | - | - | - | - | - | - | - | - | - | - | - | |
100 |
- | - | - | - | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | |
101 |
- | - | - | - | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | 12,800 | |
13 |
115,240 | 160,666 | 164,702 | 168,739 | 168,739 | 127,349 | 127,349 | - | - | - | - | - | - | - | - | - | - | - | |
132 |
115,240 | 160,666 | 164,702 | 168,739 | 168,739 | 127,349 | 127,349 | - | - | - | - | - | - | - | - | - | - | - | |
14 |
-221,251 | -275,048 | -240,254 | -219,286 | -170,873 | -93,749 | -91,167 | -64,683 | -50,124 | -50,124 | -54,482 | -29,105 | -37,483 | -38,336 | -49,354 | -29,990 | -25,839 | -17,586 | |
16 |
38,413 | 53,555 | 54,901 | 56,246 | 56,246 | 42,449 | 42,449 | - | - | - | - | - | - | - | - | - | - | - | |
168 |
38,413 | 53,555 | 54,901 | 56,246 | 56,246 | 42,449 | 42,449 | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
597,984 | 566,370 | 374,350 | 6,682 | 99,793 | 200,684 | 200,257 | 464,351 | 388,865 | 388,865 | 409,838 | 494,120 | 514,410 | 524,678 | 559,668 | 228,332 | 203,186 | 201,442 | |
17 |
380,221 | 377,033 | - | - | - | 109,811 | 111,846 | 295,636 | 195,310 | 195,310 | 200,215 | 167,216 | 194,066 | 227,816 | 261,566 | - | - | - | |
170/4 |
370,021 | 377,033 | - | - | - | 109,811 | 111,846 | 288,736 | 188,410 | 188,410 | 193,315 | 160,316 | 194,066 | 227,816 | 261,566 | - | - | - | |
178/9 |
10,200 | - | - | - | - | - | - | 6,900 | 6,900 | 6,900 | 6,900 | 6,900 | - | - | - | - | - | - | |
42/48 |
215,688 | 189,337 | 374,350 | 6,682 | 99,793 | 90,873 | 88,411 | 168,715 | 192,304 | 192,304 | 209,623 | 326,904 | 320,344 | 296,862 | 298,102 | 228,332 | 203,186 | 201,442 | |
42 |
- | - | - | - | - | 2,983 | 3,777 | 21,264 | 4,905 | 4,905 | 4,542 | 46,805 | 42,192 | 33,750 | 33,750 | - | - | - | |
43 |
16,991 | 13,677 | - | - | - | - | - | - | 105 | 105 | - | - | - | 3,697 | 3,746 | - | - | - | |
430/8 |
16,991 | 13,677 | - | - | - | - | - | - | 105 | 105 | - | - | - | 3,697 | 3,746 | - | - | - | |
44 |
34,786 | 14,455 | 335,445 | 6,682 | 2,333 | 16,987 | 25,161 | 18,010 | 2,333 | 2,333 | 4,984 | 6,418 | 526 | 424 | 89 | 23 | - | 49,879 | |
440/4 |
34,786 | 14,455 | 335,445 | 6,682 | 2,333 | 16,987 | 25,161 | 18,010 | 2,333 | 2,333 | 4,984 | 6,418 | 526 | 424 | 89 | 23 | - | 49,879 | |
46 |
- | - | - | - | - | - | - | - | 57,500 | 57,500 | 57,500 | 57,500 | 57,500 | 40,000 | 40,000 | 40,000 | - | - | |
45 |
- | - | - | - | - | - | - | - | 4,200 | 4,200 | 2,500 | 2,500 | - | - | - | - | 15,512 | - | |
450/3 |
- | - | - | - | - | - | - | - | 4,200 | 4,200 | 2,500 | 2,500 | - | - | - | - | 15,512 | - | |
47/48 |
163,911 | 161,205 | 38,905 | - | 97,460 | 70,903 | 59,473 | 129,441 | 123,261 | 123,261 | 140,097 | 213,681 | 220,126 | 218,991 | 220,517 | 188,309 | 187,674 | 151,562 | |
492/3 |
2,075 | - | - | - | - | - | - | - | 1,251 | 1,251 | - | - | - | - | - | - | - | - | |
| Income statement | |||||||||||||||||||
9900 |
49,769 | -4,056 | -12,750 | -24,983 | 17,848 | 13,796 | 24,197 | 33,700 | 44,556 | 44,556 | 47,905 | 47,651 | 32,162 | 40,924 | 23,068 | 11,494 | 23,603 | 8,622 | |
630 |
30,106 | 14,792 | 5,345 | 5,697 | 2,296 | - | - | - | 16,549 | 16,549 | 23,684 | 23,684 | 23,684 | 23,684 | 29,980 | 7,792 | 9,088 | - | |
631/4 |
- | - | - | - | - | - | - | - | - | - | 24,289 | - | - | - | - | - | - | - | |
640/8 |
7,706 | 7,688 | 7,369 | 5,324 | 35,988 | 5,570 | 14,243 | 10,792 | 6,984 | 6,984 | 13,188 | 12,617 | 7,557 | 5,312 | 847 | 7,002 | 437 | 1,565 | |
66A |
- | - | - | 9,705 | - | - | 4,000 | - | - | - | - | - | - | - | - | 4,413 | 152 | - | |
9901 |
11,957 | -26,536 | -25,464 | -45,709 | -20,436 | 8,226 | 5,954 | 22,909 | 21,023 | 21,023 | -13,255 | 11,350 | 920 | 11,929 | -7,758 | -3,300 | 14,079 | 7,057 | |
75/76B |
- | - | - | - | - | - | 169,799 | - | - | - | - | - | 297 | - | 3 | - | - | - | |
75 |
- | - | - | - | - | - | - | - | - | - | - | - | 297 | - | 3 | - | - | - | |
76B |
- | - | - | - | - | - | 169,799 | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
18,728 | 13,640 | 886 | 2,704 | 324 | 10,808 | 32,438 | 37,468 | 14,964 | 14,964 | 12,122 | 473 | 314 | 911 | 301 | 86 | 225 | 50 | |
65 |
18,728 | 13,640 | 886 | 2,704 | 324 | 10,808 | 32,438 | 37,468 | 14,964 | 14,964 | 12,122 | 473 | 314 | 911 | 301 | 86 | 225 | 50 | |
9903 |
-6,771 | -40,176 | -26,350 | -48,413 | -20,760 | -2,582 | 143,315 | -14,559 | 6,058 | 6,058 | -25,377 | 10,877 | 903 | 11,018 | -8,056 | -7,799 | 13,702 | 7,007 | |
780 |
15,142 | 1,346 | 1,345 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
680 |
- | - | - | - | 13,797 | - | 42,450 | - | - | - | - | - | - | - | - | - | - | - | |
67/77 |
- | - | - | - | 1,177 | - | - | - | 1,700 | 1,700 | - | 2,500 | 50 | - | 11,308 | - | 16,222 | 6,445 | |
9904 |
8,371 | -38,830 | -25,005 | -48,413 | -35,734 | -2,582 | 100,865 | -14,559 | 4,358 | 4,358 | -25,377 | 8,377 | 853 | 11,018 | -19,364 | -7,799 | -2,520 | 562 | |
789 |
45,426 | 4,036 | 4,037 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
689 |
- | - | - | - | 41,390 | - | 127,349 | - | - | - | - | - | - | - | - | - | - | - | |
9905 |
53,797 | -34,794 | -20,968 | -48,413 | -77,124 | -2,582 | -26,484 | -14,559 | 4,358 | 4,358 | -25,377 | 8,377 | 853 | 11,018 | -19,364 | -7,799 | -2,520 | 562 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
-221,251 | -275,048 | -240,254 | -219,286 | -170,873 | -93,749 | -91,167 | -64,683 | -50,124 | -50,124 | -54,482 | -29,105 | -37,483 | -38,336 | -49,354 | -29,990 | -25,839 | -17,586 | |
14P |
-275,048 | -240,254 | -219,286 | -170,873 | -93,749 | -91,167 | -64,683 | - | - | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 23-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-04-2026 | 2026-00086141 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00201641 | |
| 31-12-2023 | micro format | 21-05-2024 | 2024-00096940 | |
| 31-12-2022 | micro format | 04-03-2023 | 2023-00036663 | |
| 31-12-2021 | micro format | 03-03-2023 | 2023-00036060 | |
| 31-12-2020 | micro format | 08-06-2022 | 2022-20055929 | |
| 31-12-2019 | micro format | 08-06-2022 | 2022-20056539 | |
| 31-12-2018 | micro format | 22-07-2020 | 2020-32700515 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61800302 | |
| 31-12-2016 | micro format | 01-09-2017 | 2017-54900414 | |
| 31-12-2015 | full format | 27-11-2016 | 2016-68500212 | |
| 31-12-2014 | full format | 30-09-2015 | 2015-61200176 | |
| 31-12-2013 | full format | 29-08-2014 | 2014-57100048 | |
| 31-12-2012 | full format | 30-11-2013 | 2013-67300499 | |
| 31-12-2011 | full format | 20-01-2013 | 2013-01400492 | |
| 31-12-2010 | full format | 30-08-2011 | 2011-52600133 | |
| 31-12-2008 | full format | 23-04-2010 | 2010-10400346 | |
| 31-12-2006 | full format | 07-07-2010 | 2010-28500583 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2008 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 42,063 | -11,744 | -20,119 | -40,012 | -18,140 | - | - | - | 37,572 | 37,572 | 10,429 | 35,034 | 24,604 | 35,613 | 22,221 | 4,492 | 23,167 | - | ||
| 38,477 | -24,038 | -19,660 | -42,716 | -33,438 | - | - | - | 20,907 | 20,907 | -1,693 | 32,061 | 24,537 | 34,702 | 10,616 | -6 | 6,568 | - | ||
| 76,145 | 156,550 | 329,625 | 28,595 | 22,000 | - | - | - | 16,549 | 0 | 0 | 0 | 0 | 0 | 381,972 | - | - | - | ||
| -20,931 | 6,160 | 17,038 | -144,717 | 144,927 | -2,155 | - | - | - | - | 64 | 1 | - | - | - | - | - | - | ||
| -209,456 | -161,909 | -357,008 | -6,378 | 45,228 | -90,779 | -86,162 | -168,389 | - | - | -209,557 | -300,863 | -306,075 | - | -297,814 | -188,024 | -199,458 | -200,293 | ||
| -6.7% | -8.4% | -2.2% | 19.9% | 29.1% | 29.1% | 29.7% | 0.3% | 4.0% | 4.0% | 2.8% | -4.9% | -6.5% | -6.5% | -8.4% | -11.6% | -10.7% | -6.0% | ||
| 0.03 | 0.14 | 0.05 | 0.05 | 1.45 | 0.00 | 0.03 | 0.00 | - | - | 0.00 | 0.08 | 0.04 | - | 0.00 | 0.18 | 0.02 | 0.01 | ||
| - | - | - | 0.43 | 1.56 | 2.01 | 1.96 | - | 24.19 | 24.19 | 34.98 | - | - | - | - | - | - | - | ||
| - | - | - | -309.3% | -55.8% | -2.6% | 98.5% | -960.0% | 27.1% | 27.1% | -216.6% | - | - | - | - | - | - | - | ||
| 1.4% | -6.8% | -6.0% | -61.6% | -16.2% | -0.8% | 29.2% | -3.1% | 1.1% | 1.1% | -6.0% | 1.8% | 0.2% | 2.2% | -3.7% | -3.8% | -1.4% | 0.3% | ||
| 2.25 | -0.86 | -22.71 | -14.80 | -55.99 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | €76,145 | €156,550 | €329,625 | €28,595 | €22,000 |
| €30,106 | €14,792 | €5,345 | €5,697 | €2,296 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €11,957, after a loss of €26,536 in 2024. It is the highest result since 2018.
Equity is negative. Debt (€597,984) exceeds the balance-sheet total (€596,586).
CORE CONSTRUCT has no parent and no holdings in its annual accounts. CORE CONSTRUCT shares no director with another company.
| Association des Coproprietaires Leuvensesteenweg 236 te Zaventem, Leuvensesteenweg 236
registered office since 20-01-2006 |
founded in 2006 0879.597.879 |
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
CORE CONSTRUCT was incorporated on 5 November 2001.1 The registered office moved to Brussels in 2023 and to Zaventem in 2024.23 In 2024 the company took the name Core Construct.3 The board currently has 2 members. has served longest, since 2023.4 Total assets rose from €465,867 in 2018 to €596,586 in 2025.5
| Establishment | Since | Unit number |
|---|---|---|
| Leuvensesteenweg 236 registered office 1932 Zaventem | 05-01-2024 | 2.354.431.015 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23078A0475/00C002 | 481 m² | 1 · 202 m² | 10.2 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 0476.006.813
If something looks wrong or is missing, please tell us.