Correct Construct
ActiveSummary
Correct Construct is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (-€41,513) and a net result of -€7,562. Equity has been shrinking by about 45% per year since 2020. Its solvency ranks better than 5% of 9,757 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
Overview
Official details
Source: KBO- Status
- Active since 19-11-2019 Normal situation
- Activity
- Activities of holding companies NACE 64210and 4 others
- Joint committee
- 200 Auxiliary committee for white-collar workers · annual accounts 2022
- Establishment unit
- 2.296.522.015 8480 Ichtegem, since 19-11-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 17-12-2025
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Loss
- €7,562
- ▲ 83.3%
- Equity
- -€41,513
- ▼ 22.3%
- Total assets
- €106,039
- ▲ 11.4%
- Negative equity on 31-12-2025
- 2025 accounts filed 31 days after the deadline
Signalsraises riskWeak solvency compared with the sector2025 accounts filed 31 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 9757 sector peers (2025).
NBB · sector comparisonPosition among 9757 sector peers
Solvency
better than 5%
← weakest
strongest →
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 6 filingsDeviation from the deadline
2025
31 days late
2024
27 days late
2023
29 days late
2022
4 days early
2021
47 days late
2020
26 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 26 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 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 30 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00461632.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 6 filings
Equity
-€41,513▼ 22.3%
2024 · -€33,950
Net result
-€7,562▼ 83.3%
2024 · -€4,126
Total assets
€106,039▲ 11.4%
2024 · €95,170
Solvency
-39.1%▼ 3.5pp
2024 · -35.7%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€7,374
▼ 82.0%
2025
20202025
Net result
-€7,562
▼ 83.3%
2025
lowest quarter of the sector
20202025
Equity
-€41,513
▼ 22.3%
2025
lowest quarter of the sector
20202025
Total assets
€106,039
▲ 11.4%
2025
lowest quarter of the sector
20202025
Debt
€147,551
▲ 14.3%
2025
20202025
Working capital
-€41,513
▼ 22.3%
2025
lowest quarter of the sector
20202025
Solvency
-39.1%
▼ 3.5pp
2025
lowest quarter of the sector
20202025
Current ratio
0.72
▼ 0.02
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-7.1%
▼ 2.8pp
2025
lowest quarter of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€23,421-€7,667▼ 67.3%€13,007▲ 69.6%-€64,171-€4,052▲ 93.7%-€7,374▼ 82.0%
Net result€13,108within the sector's middle half-€1,669below the sector's middle half▼ 87.3%€8,476within the sector's middle half▲ 408%-€63,077below the sector's middle half-€4,126below the sector's middle half▲ 93.5%-€7,562below the sector's middle half▼ 83.3%
Equity€23,108below the sector's middle half-€24,777below the sector's middle half▲ 7.2%€33,253below the sector's middle half▲ 34.2%-€29,824below the sector's middle half-€33,950below the sector's middle half▼ 13.8%-€41,513below the sector's middle half▼ 22.3%
Total assets€384,125within the sector's middle half-€293,567within the sector's middle half▼ 23.6%€161,930within the sector's middle half▼ 44.8%€130,208within the sector's middle half▼ 19.6%€95,170below the sector's middle half▼ 26.9%€106,039below the sector's middle half▲ 11.4%
Debt€361,017-€268,790▼ 25.5%€128,677▼ 52.1%€160,032▲ 24.4%€129,120▼ 19.3%€147,551▲ 14.3%
Working capital€23,108within the sector's middle half-€24,777within the sector's middle half▲ 7.2%€33,253within the sector's middle half▲ 34.2%-€29,824below the sector's middle half-€33,950below the sector's middle half▼ 13.8%-€41,513below the sector's middle half▼ 22.3%
Solvency6.0%below the sector's middle half-8.4%below the sector's middle half▲ 2.4pp20.5%below the sector's middle half▲ 12.1pp-22.9%below the sector's middle half▼ 43.4pp-35.7%below the sector's middle half▼ 12.8pp-39.1%below the sector's middle half▼ 3.5pp
Current ratio1.06within the sector's middle half-1.09within the sector's middle half▲ 0.031.26within the sector's middle half▲ 0.170.81within the sector's middle half▼ 0.440.74within the sector's middle half▼ 0.080.72below the sector's middle half▼ 0.02
Return on assets (ROA)3.4%within the sector's middle half-0.6%below the sector's middle half▼ 2.8pp5.2%within the sector's middle half▲ 4.7pp-48.4%below the sector's middle half▼ 53.7pp-4.3%below the sector's middle half▲ 44.1pp-7.1%below the sector's middle half▼ 2.8pp
Staff (FTE)11=0.7▼ 30.0%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €7,374, larger than the loss of €4,052 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
Debt ≤ 1 year
€147,551▲
2024 · €129,120
Income taxes
€61
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - |
| full-time | 1 | 1 | - |
| in full-time equivalents | 1 | 1 | - |
| Average over the year, in full-time equivalents | 1 | 1 | 0.7 |
| On a permanent contract | 1 | 1 | - |
| Joined | - | - | 0 |
| Left | - | - | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €40,332 | €48,163 | €40,039 | - | - | - |
| Other operating charges640/8 | - | €2,081 | €460 | €80 | €2,803 | €1,282 | ▼ 54.3% |
| Gross operating margin9900 | €24,412 | €50,080 | €61,630 | -€24,051 | -€1,249 | -€6,092 | ▼ 388% |
| Operating profit (loss)9901 | €23,421 | €7,667 | €13,007 | -€64,171 | -€4,052 | -€7,374 | ▼ 82.0% |
| Financial income75/76B | - | €2 | €147 | €2,639 | - | €27 | - |
| Recurring financial income75 | - | €2 | €147 | €2,639 | - | €27 | - |
| Financial charges65/66B | - | €5,292 | €2,196 | €1,545 | €74 | €155 | ▲ 108% |
| Recurring financial charges65 | €6,943 | €5,292 | €2,196 | €1,545 | €74 | €155 | ▲ 108% |
| Profit (loss) for the period before taxes9903 | €16,479 | €2,377 | €10,958 | -€63,077 | -€4,126 | -€7,501 | ▼ 81.8% |
| Income taxes67/77 | €3,371 | €708 | €2,482 | - | - | €61 | - |
| Profit (loss) for the period9904 | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Profit (loss) for the period to be appropriated9905 | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €384,125 | €293,567 | €161,930 | €130,208 | €95,170 | €106,039 | ▲ 11.4% |
| Current assets29/58 | €384,125 | €293,567 | €161,930 | €130,208 | €95,170 | €106,039 | ▲ 11.4% |
| Stocks and contracts in progress3 | €96,937 | €148,937 | - | - | - | - | - |
| Stocks30/36 | - | €148,937 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €101,217 | €111,956 | €157,031 | €128,400 | €94,919 | €99,297 | ▲ 4.6% |
| Trade receivables40 | - | €110,621 | €67,031 | €111,894 | €94,919 | €96,506 | ▲ 1.7% |
| Other amounts receivable41 | - | €1,334 | €90,000 | €16,506 | - | €2,791 | - |
| Cash at bank and in hand54/58 | €179,189 | €32,674 | €4,718 | €1,807 | €251 | €6,734 | ▲ 27× |
| Deferred charges and accrued income490/1 | - | - | €182 | - | - | €7 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €384,125 | €293,567 | €161,930 | €130,208 | €95,170 | €106,039 | ▲ 11.4% |
| Equity10/15 | €23,108 | €24,777 | €33,253 | -€29,824 | -€33,950 | -€41,513 | ▼ 22.3% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €10,000 | €10,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Distributable reserves133 | - | €10,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | €3,108 | €4,777 | €3,253 | -€59,824 | -€63,950 | -€71,513 | ▼ 11.8% |
| Amounts payable17/49 | €361,017 | €268,790 | €128,677 | €160,032 | €129,120 | €147,551 | ▲ 14.3% |
| Amounts payable within one year42/48 | €361,017 | €268,790 | €128,677 | €160,032 | €129,120 | €147,551 | ▲ 14.3% |
| Trade debts44 | €89,012 | €5,625 | €7,975 | €53,695 | €11,983 | €11,862 | ▼ 1.0% |
| Suppliers440/4 | - | €5,625 | €7,975 | €53,695 | €11,983 | €11,862 | ▼ 1.0% |
| Taxes, remuneration and social security45 | - | €8,768 | €7,126 | €13 | - | - | - |
| Taxes450/3 | - | €4,956 | €4,017 | €13 | - | - | - |
| Remuneration and social security454/9 | - | €3,812 | €3,109 | - | - | - | - |
| Other amounts payable47/48 | - | €254,398 | €113,577 | €106,324 | €117,137 | €135,689 | ▲ 15.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Operating cash flow (approximation) | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Change in cash | - | -€146,514 | -€27,957 | -€2,910 | -€1,557 | €6,484 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00461632 | |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00410079 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00391916 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00275559 | |
| 31-12-2021 | micro format | 16-09-2022 | 2022-20430107 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-54100562 |
Board & ownership
Directors
Directors
2 directors
Fonteyne Johan
Current
Director · listed in the 2025 annual accounts, filed on 31-08-2026
Roose Regine
Current
Director · listed in the 2025 annual accounts, filed on 31-08-2026
Owners and capital
Owners
Mandate history
2 people, 2 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Fonteyne Johan |
|
| Roose Regine |
|
Network & group
Board mandates elsewhere
1 board mandateBoard mandates of Correct ConstructCorrect Construct sits on their board1
Connections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
This company
Company
Director
Shareholding
+N: links not shown yet
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Timeline
Deeds, filings and financial milestones
Deadline for the 2026 accounts:
2026
31-08
micro format · 31 days late
2025
27-08
micro format · 27 days late
2024
29-08
micro format · 29 days late
2023
31-12
Financial
Weakest financial yearnet -€63,077
The net result drops to -€63,077, the lowest from 2020 to 2025. It recovers the following year.
27-07
micro format · 4 days before the deadline
2022
2021
26-08
micro format · 26 days late
2019
21-11
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Correct Construct in Dutch
Enterprise number
0737.836.240
Legal form
Private limited company
Status
Active, normal situation
Founded
19-11-2019
Entity type
Legal entity
Registered office and establishments
Registered office
Oostendesteenweg 216, 8480 Ichtegem, Belgium
Establishment unit
Correct Construct, Oostendesteenweg 216, 8480 Ichtegem since 19-11-2019 · unit number 2.296.522.015 41001 General construction of residential buildings
Activities
NACEBEL 202564210
Activities of holding companies main activity
68121
Development of residential building projects
68122
Development of non-residential building projects
70200
Business and other management consultancy
82990
Other business support services
Codes under NACEBEL 2008
64200
Holdings main activity
41101
Real estate development
41102
Construction of residential and non-residential buildings
70220
Business consulting
82990
Other business support services
Joint committee
200 Auxiliary committee for white-collar workers annual accounts 2022
Invoicing and payment
VAT number
BE 0737.836.240
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 0737.836.240
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Environmental permits
1 application in Flanders since 2021 · 1 granted
Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Slopen van niet vrijstaande gebouwen of constructies
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the address
Ground area
1,331 m²
Building footprint
342 m²
Building volume
1,999 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 35003B0918/00W000 | Flanders | 1,331 m² | 1 · 341 m² | 9.6 m · 2 |