CVR CONSTRUCTIE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 5 filings
Turnover
≈ €89,000
Estimated: probably between €38,000 and €170,000
Total assets
€165,623▲ 15.0%
2024 · €144,074
Net result
€1,816
2024 · -€1,134
Working capital
€2,846
2024 · -€1,523
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€1,440
2025
20212025
Net result
€1,816
2025
middle half of the sector
20212025
Equity
€12,330
▲ 17.3%
2025
lowest quarter of the sector
20212025
Total assets
€165,623
▲ 15.0%
2025
middle half of the sector
20212025
Debt
€153,292
▲ 14.8%
2025
20212025
Working capital
€2,846
2025
middle half of the sector
20212025
Solvency
7.4%
▲ 0.1pp
2025
lowest quarter of the sector
20212025
Current ratio
1.02
▲ 0.03
2025
middle half of the sector
20212025
Return on assets (ROA)
1.1%
▲ 1.9pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€20,281-€12,412▼ 38.8%-€23,643-€697▲ 97.1%€1,440
Net result€15,575within the sector's middle half-€9,485within the sector's middle half▼ 39.1%-€23,412below the sector's middle half-€1,134below the sector's middle half▲ 95.2%€1,816within the sector's middle half
Equity€25,575within the sector's middle half-€35,060within the sector's middle half▲ 37.1%€11,648below the sector's middle half▼ 66.8%€10,514below the sector's middle half▼ 9.7%€12,330below the sector's middle half▲ 17.3%
Total assets€98,452within the sector's middle half-€122,067within the sector's middle half▲ 24.0%€124,488within the sector's middle half▲ 2.0%€144,074within the sector's middle half▲ 15.7%€165,623within the sector's middle half▲ 15.0%
Debt€72,877-€87,007▲ 19.4%€112,839▲ 29.7%€133,560▲ 18.4%€153,292▲ 14.8%
Working capital€198within the sector's middle half-€8,747within the sector's middle half▲ 44×-€8,844below the sector's middle half-€1,523below the sector's middle half▲ 82.8%€2,846within the sector's middle half
Solvency26.0%within the sector's middle half-28.7%within the sector's middle half▲ 2.7pp9.4%below the sector's middle half▼ 19.4pp7.3%below the sector's middle half▼ 2.1pp7.4%below the sector's middle half▲ 0.1pp
Current ratio1.00below the sector's middle half-1.10within the sector's middle half▲ 0.100.92below the sector's middle half▼ 0.180.99below the sector's middle half▲ 0.071.02within the sector's middle half▲ 0.03
Return on assets (ROA)15.8%above the sector's middle half-7.8%within the sector's middle half▼ 8.0pp-18.8%below the sector's middle half▼ 26.6pp-0.8%below the sector's middle half▲ 18.0pp1.1%within the sector's middle half▲ 1.9pp
above
within
below
The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). 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 profit of €1,440, after a loss of €697 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €165,623
Fixed assets
€11,602 ▼ 45.3%
Current assets
€154,020 ▲ 25.4%
Equity and liabilities €165,623
Equity
€12,330 ▲ 17.3%
Debt
€153,292 ▲ 14.8%
Debt's share of the balance-sheet total falls from 92.7% to 92.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€11,043▲
2024 · €7,763
Cash flow
€11,419▲
2024 · €7,326
Quick ratio
0.91▲
2024 · 0.86
Debt to equity
12.43▼
2024 · 12.70
ROE
14.7%▲
2024 · -10.8%
Interest coverage
25.56▲
2024 · 15.79
Debt ≤ 1 year
€151,174▲
2024 · €124,392
Income taxes
€0▼
2024 · €728
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €32,370 | €7,513 | €2,493 | €9,173 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €6,927 | €6,643 | €8,313 | €8,461 | €9,603 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €105 awarded · €105 paidAnnual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €7,499 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,927 | €6,643 | €8,313 | €8,461 | €9,603 | ▲ 13.5% |
| Other operating charges640/8 | €869 | €748 | €1,319 | €2,187 | €2,116 | ▼ 3.2% |
| Gross operating margin9900 | €28,078 | €19,803 | -€14,012 | €9,950 | €13,159 | ▲ 32.2% |
| Operating profit (loss)9901 | €20,281 | €12,412 | -€23,643 | -€697 | €1,440 | - |
| Financial income75/76B | €95 | €820 | €800 | €783 | €808 | ▲ 3.2% |
| Recurring financial income75 | €95 | €820 | €800 | €783 | €808 | ▲ 3.2% |
| Financial charges65/66B | €145 | €522 | €569 | €492 | €432 | ▼ 12.1% |
| Recurring financial charges65 | €145 | €522 | €569 | €492 | €432 | ▼ 12.1% |
| Profit (loss) for the period before taxes9903 | €20,232 | €12,710 | -€23,412 | -€406 | €1,816 | - |
| Income taxes67/77 | €4,657 | €3,225 | €0 | €728 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €15,575 | €9,485 | -€23,412 | -€1,134 | €1,816 | - |
| Profit (loss) for the period to be appropriated9905 | €15,575 | €9,485 | -€23,412 | -€1,134 | €1,816 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €98,452 | €122,067 | €124,488 | €144,074 | €165,623 | ▲ 15.0% |
| Fixed assets21/28 | €25,443 | €26,313 | €20,492 | €21,205 | €11,602 | ▼ 45.3% |
| Tangible fixed assets22/27 | €25,443 | €26,313 | €20,492 | €21,205 | €11,602 | ▼ 45.3% |
| Plant, machinery and equipment23 | €23,190 | €24,785 | €19,691 | €20,172 | €11,017 | ▼ 45.4% |
| Furniture and vehicles24 | €2,253 | €1,527 | €801 | €1,033 | €585 | ▼ 43.4% |
| Current assets29/58 | €73,009 | €95,755 | €103,995 | €122,869 | €154,020 | ▲ 25.4% |
| Stocks and contracts in progress3 | €5,983 | €3,539 | €32,952 | €15,897 | €16,802 | ▲ 5.7% |
| Stocks30/36 | €983 | €3,539 | €8,302 | €3,631 | €3,425 | ▼ 5.7% |
| Contracts in progress37 | €5,000 | €0 | €24,649 | €12,266 | €13,378 | ▲ 9.1% |
| Amounts receivable within one year40/41 | €66,418 | €68,064 | €59,707 | €94,437 | €81,001 | ▼ 14.2% |
| Trade receivables40 | €46,416 | €44,141 | €32,976 | €69,451 | €54,684 | ▼ 21.3% |
| Other amounts receivable41 | €20,002 | €23,923 | €26,731 | €24,986 | €26,317 | ▲ 5.3% |
| Cash at bank and in hand54/58 | €157 | €24,152 | €11,232 | €11,756 | €55,219 | ▲ 370% |
| Deferred charges and accrued income490/1 | €450 | €0 | €105 | €779 | €998 | ▲ 28.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €98,452 | €122,067 | €124,488 | €144,074 | €165,623 | ▲ 15.0% |
| Equity10/15 | €25,575 | €35,060 | €11,648 | €10,514 | €12,330 | ▲ 17.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €15,575 | €25,060 | €25,060 | €25,060 | €25,060 | = |
| Distributable reserves133 | €15,575 | €25,060 | €25,060 | €25,060 | €25,060 | = |
| Profit (loss) carried forward14 | - | - | -€23,412 | -€24,546 | -€22,730 | ▲ 7.4% |
| Amounts payable17/49 | €72,877 | €87,007 | €112,839 | €133,560 | €153,292 | ▲ 14.8% |
| Amounts payable within one year42/48 | €72,811 | €87,007 | €112,839 | €124,392 | €151,174 | ▲ 21.5% |
| Trade debts44 | €15,662 | €26,311 | €29,993 | €35,016 | €40,398 | ▲ 15.4% |
| Suppliers440/4 | €15,662 | €26,311 | €29,993 | €35,016 | €40,398 | ▲ 15.4% |
| Taxes, remuneration and social security45 | €7,057 | €4,350 | €4,017 | €0 | €1,200 | - |
| Taxes450/3 | €7,057 | €4,350 | €4,017 | €0 | €1,200 | - |
| Other amounts payable47/48 | €50,092 | €56,347 | €78,830 | €89,376 | €109,576 | ▲ 22.6% |
| Accrued charges and deferred income492/3 | €66 | €0 | - | €9,168 | €2,118 | ▼ 76.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,575 | €9,485 | -€23,412 | -€1,134 | €1,816 | - |
| + Depreciation and write-downs630 | €6,927 | €6,643 | €8,313 | €8,461 | €9,603 | ▲ 13.5% |
| Operating cash flow (approximation) | €22,502 | €16,128 | -€15,099 | €7,326 | €11,419 | ▲ 55.9% |
| Investment in fixed assets (approximation) | - | -€7,513 | -€2,492 | -€9,173 | €0 | - |
| Change in cash | - | €23,995 | -€12,920 | €524 | €43,463 | ▲ 83× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,251 companies had the same profile as CVR CONSTRUCTIE has now. Two years later, 94.4% were still going and 2.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
94.4%
was still going
2.7%
stopped otherwise
2.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CVR CONSTRUCTIE itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,446 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,251 companies, not a prediction for CVR CONSTRUCTIE. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00353591 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00321686 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00303354 | |
| 31-12-2022 | micro format | 13-06-2024 | 2024-00131215 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20448250 |