Overdue debts
The annual accounts state €2,369 of overdue tax debts and €4,758 of overdue social security (RSZ) debts on 31-12-2025.
The annual accounts state €2,369 of overdue tax debts and €4,758 of overdue social security (RSZ) debts on 31-12-2025.
The micro format states no turnover.
Short-term debts rose from €32,006 to €42,470.
Lower net result than 93% of companies in construction of buildings. Sector median €8,554 · 9,452 companies.
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 28% of them on solvency, 11% on liquidity, 5% on profitability and 8% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,207 companies had the same profile as DELREE CONSTRUCTION has now. Each dot stands for 4 companies, two years later.
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DELREE CONSTRUCTION itself: 5.2% within 12 months.
The method was tested on the 497,447 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 1,207 companies, not a prediction for DELREE CONSTRUCTION. 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.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is tight, with a current ratio of 1.01 (1.66 in 2024), below the usual 1.5. Short-term debt is 79% and cash 4.8% of total assets. 79% of the assets are financed with debt and provisions.
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.
The company filed its last 3 accounts on average 84 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| DELREE CONSTRUCTION Braives | €53,735 | €48,146 | 21.0% | - |
| ARK Groep Genk | €55,458 | €52,345 | 80.0% | - |
| BELRO CONSTRUCT Asse | €49,171 | €49,933 | 79.8% | - |
| TANKOO Lievegem | €54,551 | €53,772 | 66.3% | - |
| AdamZ Construct Charleroi | €47,568 | €47,127 | 20.7% | - |
| LRS Company Ganshoren | €59,148 | €43,399 | 56.2% | - |
| RAFF ROOF Grimbergen | €52,010 | €42,289 | 82.3% | - |
These companies have the same main activity as DELREE CONSTRUCTION: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €47,600 and €59,100, founded in 2023.
DELREE CONSTRUCTION files the micro format. That format states no turnover. The gross margin fell from €58,617 in 2023 to €48,146 in 2025.
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 ≈ €340,000. Estimated: probably between €190,000 and €600,000.
Higher than 27% of 9,462 companies in 2025.
Higher than 22% of 9,210 companies in 2025.
Lower than 95% of 9,282 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
53,735 | 70,777 | 85,110 | |
21/28 |
10,937 | 17,577 | 48,551 | |
22/27 |
10,937 | 17,577 | 48,551 | |
23 |
9,937 | 14,577 | 24,293 | |
24 |
1,000 | 3,000 | 5,000 | |
25 |
- | 0 | 19,258 | |
26 |
0 | - | - | |
29/58 |
42,797 | 53,200 | 36,560 | |
3 |
500 | 2,457 | - | |
30/36 |
500 | 2,457 | - | |
40/41 |
25,591 | 45,710 | 32,180 | |
40 |
17,227 | 29,917 | 14,831 | |
41 |
8,364 | 15,793 | 17,349 | |
54/58 |
2,595 | 0 | 2,420 | |
490/1 |
14,111 | 5,032 | 1,960 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
53,735 | 70,777 | 85,110 | |
10/15 |
11,265 | 38,693 | 35,590 | |
10/11 |
8,000 | 8,000 | 8,000 | |
14 |
3,265 | 30,693 | 27,590 | |
17/49 |
42,470 | 32,084 | 49,521 | |
17 |
- | 0 | 13,956 | |
170/4 |
- | 0 | 13,956 | |
42/48 |
42,470 | 32,006 | 32,807 | |
42 |
- | 0 | 3,760 | |
43 |
6,420 | 4,799 | - | |
430/8 |
6,420 | 4,799 | - | |
44 |
21,644 | 9,188 | 10,970 | |
440/4 |
21,644 | 9,188 | 10,970 | |
45 |
14,406 | 18,019 | 18,077 | |
450/3 |
8,301 | 12,174 | 13,482 | |
454/9 |
6,105 | 5,845 | 4,595 | |
47/48 |
0 | 0 | 0 | |
492/3 |
0 | 78 | 2,757 | |
| Income statement | ||||
9900 |
48,146 | 54,622 | 58,617 | |
62 |
57,738 | 32,425 | 10,551 | |
630 |
12,965 | 11,716 | 8,993 | |
640/8 |
2,149 | 1,860 | 3,259 | |
9901 |
-24,706 | 8,622 | 35,814 | |
75/76B |
489 | 1,333 | 170 | |
75 |
489 | 1,333 | 170 | |
65/66B |
2,939 | 4,484 | 912 | |
65 |
2,939 | 4,484 | 912 | |
9903 |
-27,157 | 5,472 | 35,071 | |
67/77 |
272 | 2,369 | 7,482 | |
9904 |
-27,428 | 3,103 | 27,590 | |
9905 |
-27,428 | 3,103 | 27,590 | |
| Appropriation of the result | ||||
9906 |
3,265 | 30,693 | 27,590 | |
14P |
30,693 | 27,590 | - | |
| Social balance sheet | ||||
9087 |
1 | 0.7 | 0.3 | |
Hours worked1013 |
1,664 | 960 | 296 | |
| Document | ||||
The notes to these accounts have 8 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 01-04-2026.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| -11,741 | 20,338 | 44,807 | ||
| -14,463 | 14,819 | 36,583 | ||
| 6,325 | -19,258 | 79,801 | ||
| 2,595 | -2,420 | - | ||
| 327 | 21,194 | 3,753 | ||
| 21.0% | 54.7% | 41.8% | ||
| 1.01 | 1.66 | 1.11 | ||
| 1.00 | 1.59 | 1.11 | ||
| 3.77 | 0.83 | 1.39 | ||
| -243.5% | 8.0% | 77.5% | ||
| -51.0% | 4.4% | 32.4% | ||
| -3.99 | 4.54 | 49.12 |
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 | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 |
| 1 | 0.7 | 0.3 | |
| On a permanent contract | 1 | - | - |
| Joined | - | 2 | 1 |
| Left | - | 2 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Overdue tax debts | €2,369 | - | - |
| Overdue social security (RSZ) debts | €4,758 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of debts)
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Pledge on other assets, amount secured | - | - | €17,716 |
| Carrying value of the other pledged assets | - | - | €48,551 |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €6,325 | - | €79,801 |
| €12,965 | €11,716 | €8,993 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €24,706, after a profit of €8,622 in 2024. It is the lowest result since 2023.
Debt's share of the balance-sheet total rises from 45.3% to 79.0%. Equity is lower and debt is higher.
DELREE CONSTRUCTION has no parent and no holdings in its annual accounts. DELRÉE Anthony Vincent Muriel is the only director. DELREE CONSTRUCTION shares no director with another company.
| RONVAUX Christian
registered office since 13-07-2011 · founded in 2011 |
total assets €485,336 (2025) 0837.816.912 |
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
DELREE CONSTRUCTION was incorporated on 19 July 2023 as a private limited company by one natural person, with a starting capital of €8,000.12 Since 2023, DELRÉE Anthony Vincent Muriel has served as director.3 Total assets fell from €85,110 in 2023 to €53,735 in 2025 and headcount from 0.3 to 1 full-time equivalents.4
| Establishment | Since | Unit number |
|---|---|---|
| Rue d'Oteppe 1 registered office 4260 Braives 42110 Construction of roads and motorways | 19-07-2023 | 2.362.781.131 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 64017B0202/00K000 | 2,565 m² | 1 · 80 m² | 7.2 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 0804.115.350
If something looks wrong or is missing, please tell us.