DRAY CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of DRAY CONSTRUCT is 1.6% (moderate). The 2024 annual accounts show equity of €140,530 and a net result of €86,098. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 72% of 9974 sector peers (fiscal year 2024). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+100
Solvency88▲+30
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 2.19 against 1.48 in 2023; short-term debt: 36.9% and cash: 67.1% of total assets), and 36.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €140,530
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-09-2025, 59 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
59 d late
2023
69 d late
2022
69 d late
2021
91 d late
2020
188 d late
2019
102 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 96 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€140,530▲ 158%
2023 · €54,433
Total assets
€222,546▲ 33.4%
2023 · €166,797
Net result
€86,098
2023 · -€34,132
Working capital
€97,882▲ 82.3%
2023 · €53,682
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€2,192€10,093€92,280▲ 814%-€28,274€136,801
Net result-€3,151▼ 4.9%€6,787€71,451▲ 953%-€34,132€86,098
Equity€10,326▼ 23.4%€17,113▲ 65.7%€88,564▲ 418%€54,433▼ 38.5%€140,530▲ 158%
Total assets€100,659▼ 19.2%€71,755▼ 28.7%€151,987▲ 112%€166,797▲ 9.7%€222,546▲ 33.4%
Debt€90,333▼ 18.7%€54,642▼ 39.5%€63,423▲ 16.1%€112,364▲ 77.2%€82,016▼ 27.0%
Working capital-€11,105▲ 46.8%€9,798€87,423▲ 792%€53,682▼ 38.6%€97,882▲ 82.3%
Staff (FTE)5.8▲ 5.5%5.6▼ 3.4%4▼ 28.6%3.6
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €136,801 after a loss of €28,274 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €222,546
Fixed assets
€42,648 ▲ 5,578%
Current assets
€179,898 ▲ 8.3%
Equity and liabilities €222,546
Equity
€140,530 ▲ 158%
Debt
€82,016 ▼ 27.0%
Debt's share of the balance-sheet total falls from 67.4% to 36.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€142,512▲
2023 · -€27,884
Cash flow
€91,809▲
2023 · -€33,741
Current ratio
2.19▲
2023 · 1.48
Debt to equity
0.58▼
2023 · 2.06
ROE
61.3%▲
2023 · -62.7%
ROA
38.7%▲
2023 · -20.5%
Interest coverage
630.22▲
2023 · -19.76
Debt ≤ 1 year
€82,016▼
2023 · €112,364
Income taxes
€50,479▲
2023 · €5,918
Staff costs
€126,401▼
2023 · €146,182
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,672 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €122,499 | €116,473 | €146,182 | €126,401 | ▼ 13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,298 | €15,260 | €6,202 | €391 | €5,712 | ▲ 1,362% |
| Other operating charges640/8 | - | €1,787 | €379 | €827 | €505 | ▼ 38.9% |
| Gross operating margin9900 | €165,146 | €149,639 | €215,334 | €119,126 | €269,419 | ▲ 126% |
| Operating profit (loss)9901 | -€2,192 | €10,093 | €92,280 | -€28,274 | €136,801 | ▲ 584% |
| Financial income75/76B | - | €504 | €837 | €1,472 | €2 | ▼ 99.9% |
| Recurring financial income75 | - | €43 | €51 | €31 | €2 | ▼ 94.3% |
| Non-recurring financial income76B | - | €461 | €786 | €1,441 | - | - |
| Financial charges65/66B | - | €86 | €242 | €1,411 | €226 | ▼ 84.0% |
| Recurring financial charges65 | €140 | €86 | €242 | €1,411 | €226 | ▼ 84.0% |
| Profit (loss) for the period before taxes9903 | -€2,331 | €10,511 | €92,876 | -€28,214 | €136,576 | ▲ 584% |
| Income taxes67/77 | €820 | €3,724 | €21,425 | €5,918 | €50,479 | ▲ 753% |
| Profit (loss) for the period9904 | -€3,151 | €6,787 | €71,451 | -€34,132 | €86,098 | ▲ 352% |
| Profit (loss) for the period to be appropriated9905 | -€3,151 | €6,787 | €71,451 | -€34,132 | €86,098 | ▲ 352% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €100,659 | €71,755 | €151,987 | €166,797 | €222,546 | ▲ 33.4% |
| Fixed assets21/28 | €21,431 | €7,315 | €1,142 | €751 | €42,648 | ▲ 5,578% |
| Intangible fixed assets21 | €1,039 | €0 | €0 | - | €9,167 | - |
| Tangible fixed assets22/27 | €20,392 | €7,315 | €1,142 | €751 | €33,482 | ▲ 4,358% |
| Furniture and vehicles24 | - | €7,315 | €1,142 | €751 | €33,482 | ▲ 4,358% |
| Current assets29/58 | €79,228 | €64,440 | €150,846 | €166,046 | €179,898 | ▲ 8.3% |
| Amounts receivable within one year40/41 | €29,016 | €39,627 | €30,993 | €20,134 | €25,324 | ▲ 25.8% |
| Trade receivables40 | - | €38,904 | €5,563 | €18,527 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €723 | €25,429 | €1,607 | €25,324 | ▲ 1,476% |
| Cash at bank and in hand54/58 | €43,916 | €19,678 | €113,428 | €143,883 | €149,325 | ▲ 3.8% |
| Deferred charges and accrued income490/1 | - | €5,136 | €6,425 | €2,029 | €5,249 | ▲ 159% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €100,659 | €71,755 | €151,987 | €166,797 | €222,546 | ▲ 33.4% |
| Equity10/15 | €10,326 | €17,113 | €88,564 | €54,433 | €140,530 | ▲ 158% |
| Contributions10/11 | €6,400 | €6,400 | €6,400 | €6,400 | €6,400 | = |
| Capital10 | - | €6,400 | €6,400 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Uncalled capital101 | - | €12,200 | €12,200 | - | - | - |
| Profit (loss) carried forward14 | €3,926 | €10,713 | €82,164 | €48,033 | €134,130 | ▲ 179% |
| Amounts payable17/49 | €90,333 | €54,642 | €63,423 | €112,364 | €82,016 | ▼ 27.0% |
| Amounts payable within one year42/48 | €90,333 | €54,642 | €63,423 | €112,364 | €82,016 | ▼ 27.0% |
| Financial debts43 | - | €7,588 | €1,341 | €0 | - | - |
| Credit institutions430/8 | - | €7,588 | €1,341 | €0 | - | - |
| Trade debts44 | €22,201 | €11,187 | €7,652 | €107,093 | €33,397 | ▼ 68.8% |
| Suppliers440/4 | - | €11,187 | €7,652 | €107,093 | €33,397 | ▼ 68.8% |
| Taxes, remuneration and social security45 | - | €24,578 | €42,755 | €1,859 | €48,481 | ▲ 2,508% |
| Taxes450/3 | - | €16,887 | €34,309 | €1,859 | €38,372 | ▲ 1,964% |
| Remuneration and social security454/9 | - | €7,690 | €8,446 | - | €10,109 | - |
| Other amounts payable47/48 | - | €11,289 | €11,675 | €3,412 | €139 | ▼ 95.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,151 | €6,787 | €71,451 | -€34,132 | €86,098 | ▲ 352% |
| + Depreciation and write-downs630 | €15,298 | €15,260 | €6,202 | €391 | €5,712 | ▲ 1,362% |
| Operating cash flow (approximation) | €12,147 | €22,047 | €77,652 | -€33,741 | €91,809 | ▲ 372% |
| Investment in fixed assets (approximation) | - | -€1,144 | -€28 | €0 | -€47,609 | - |
| Change in cash | - | -€24,238 | €93,750 | €30,455 | €5,442 | ▼ 82.1% |
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
2025
28-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 59 days late
2024
31-12
Financial
Back to profitnet €86,098
Net result €86,098 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €140,530 ▲158%
Equity rises from €54,433 to €140,530.
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 69 days late
2023
31-12
Financial
Weakest financial yearnet -€34,132
Net result drops to -€34,132, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 69 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 2.38
Current ratio from 1.18 to 2.38.
30-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 91 days late
04-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 188 days late
2021
31-12
Financial
Back to profitnet €6,787
Net result €6,787 after 2 loss-making years.
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 102 days late
2019
13-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 74 days late
Show earlier events
2018
25-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 117 days late
2017
06-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 37 days late
2016
27-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Brussel · 1 establishment unit since 2013
Ground area
116 m²
Building footprint
116 m²
Volume, LiDAR
876 m³
Parcel 21819C0072/00E002, Brussels · tallest building 14.4 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
DRAY CONSTRUCT
since 20132.216.334.093
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21819C0072/00E002 | Brussels | 116 m² | 1 · 116 m² | 14.3 m · 3 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.
Recognitions · licences · registrations
Dual-learning approval
4 endedMetselaar (vwo)
Ruwbouw duaal (so)
Voeger (so)
Metselaar (so)
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 12,750 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-01-2013
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43350Other building finishing work
43910Bricklaying and masonry work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0502880563
Registered
23-01-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.