Equity
EFL CONSTRUCT has made a profit in every financial year since 2021.
EFL CONSTRUCT has made a profit in every financial year since 2021.
The micro format states no turnover.
Green is investment, beige is depreciation. Land and buildings stand 47.7% higher than in 2024.
In 2025, 4 people joined and 4 left.
The 2023 accounts came latest: 27 days after the end of the period.
More equity than 87% of companies in specialised construction. Sector median €57,716 · 35,168 companies.
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 3 in 1,000 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 43, micro). It does better than 35% of them on solvency, 60% on liquidity, 33% on profitability and 72% on growth.
The bankruptcy probability was computed on 10-11-2026 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 very low class on 30-06-2025, 0.1% 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, 26,972 companies had the same profile as EFL CONSTRUCT has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EFL CONSTRUCT itself: 0.3% within 12 months.
The method was tested on the 497,448 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 26,972 companies, not a prediction for EFL 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.
Liquidity is tight, with a current ratio of 1.32 (1.45 in 2024), below the usual 1.5. Short-term debt is 16.8% and cash 12.9% of total assets. 67% 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 5 accounts on average 19 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| EFL CONSTRUCT Huy | €713,592 | €151,948 | 33.0% | - |
| DEJON Saint-Georges-sur-Meuse | €623,062 | €147,349 | -1.4% | - |
| DAKWERKEN VERSTREPEN Willebroek | €730,340 | €150,658 | 23.7% | 1 |
| TOITURES PIERRE HUBERT Andenne | €765,542 | €134,811 | 33.6% | - |
| DAKWERKEN HOSTENS Houthulst | €786,114 | €166,584 | 26.5% | 0 |
| GHIJSELINCK Kruisem | €739,832 | €174,500 | 41.3% | - |
| FDR Oostkamp | €846,470 | €159,045 | 13.8% | - |
These companies have the same main activity as EFL CONSTRUCT: roofing work (NACE 43410). They are comparable in size and age: total assets between €623,000 and €846,000, founded between 2020 and 2021.
EFL CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €148,611 in 2021 to €151,948 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets, financed with long-term debt.
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 ≈ €500,000. Estimated: probably between €380,000 and €700,000.
Higher than 35% of 35,156 companies in 2025.
Higher than 34% of 34,529 companies in 2025.
Higher than 49% of 34,730 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 4 people joined and 4 left. Training hours in 2025: 72.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
713,592 | 555,606 | 541,990 | 311,799 | 226,842 | |
20 |
78 | 333 | 587 | 842 | 1,097 | |
21/28 |
554,640 | 384,943 | 404,560 | 151,046 | 58,195 | |
21 |
- | - | - | 370 | 740 | |
22/27 |
550,926 | 381,229 | 400,845 | 146,962 | 57,411 | |
22 |
527,955 | 357,526 | 364,271 | 83,260 | - | |
23 |
17,828 | 15,490 | 18,026 | 15,484 | 9,701 | |
24 |
1,258 | 7,755 | 17,738 | 26,557 | 47,710 | |
26 |
3,885 | 459 | 811 | - | - | |
27 |
- | - | - | 21,661 | - | |
28 |
3,714 | 3,714 | 3,714 | 3,714 | 44 | |
29/58 |
158,874 | 170,330 | 136,843 | 159,910 | 167,550 | |
3 |
32,460 | 27,830 | 24,776 | 33,279 | 33,279 | |
30/36 |
32,460 | 27,830 | 24,776 | 33,279 | 33,279 | |
40/41 |
14,403 | 9,460 | 45,222 | 43,573 | 44,758 | |
40 |
9,478 | 754 | 40,222 | 34,543 | 40,888 | |
41 |
4,925 | 8,705 | 5,000 | 9,030 | 3,870 | |
54/58 |
92,190 | 128,640 | 61,611 | 73,545 | 89,513 | |
490/1 |
19,821 | 4,401 | 5,235 | 9,513 | - | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
713,592 | 555,606 | 541,990 | 311,799 | 226,842 | |
10/15 |
235,251 | 187,697 | 145,189 | 104,992 | 48,114 | |
10/11 |
7,000 | 7,000 | 7,000 | 7,000 | 7,000 | |
14 |
215,263 | 166,945 | 138,189 | 97,992 | 41,114 | |
15 |
12,988 | 13,752 | - | - | - | |
17/49 |
478,342 | 367,909 | 396,802 | 206,807 | 178,728 | |
17 |
358,240 | 250,605 | 269,061 | 62,426 | 19,312 | |
170/4 |
358,240 | 250,605 | 269,061 | 62,426 | 19,312 | |
42/48 |
120,102 | 117,304 | 127,741 | 144,370 | 159,141 | |
42 |
23,672 | 21,853 | 20,529 | 15,329 | 11,845 | |
44 |
23,228 | 7,504 | 11,392 | 4,063 | 17,289 | |
440/4 |
23,228 | 7,504 | 11,392 | 4,063 | 17,289 | |
46 |
69,171 | 77,782 | 87,176 | 112,160 | 99,769 | |
45 |
3,882 | 10,155 | 8,596 | 7,939 | 14,148 | |
450/3 |
3,882 | 10,155 | 3,273 | 7,939 | 6,000 | |
454/9 |
- | - | 5,323 | - | 8,148 | |
47/48 |
149 | 11 | 47 | 4,879 | 16,090 | |
492/3 |
- | - | - | 11 | 275 | |
| Income statement | ||||||
76A |
- | - | 2,756 | 343 | - | |
9900 |
151,948 | 258,505 | 228,778 | 284,689 | 148,611 | |
62 |
55,433 | 153,010 | 138,299 | 168,663 | 73,000 | |
630 |
24,412 | 31,250 | 34,386 | 25,732 | 21,775 | |
640/8 |
3,773 | 4,149 | 1,527 | 3,972 | 351 | |
66A |
- | - | - | 9,843 | - | |
9901 |
68,330 | 70,096 | 54,565 | 76,479 | 53,484 | |
75/76B |
9,602 | 5,946 | 1,846 | 4,055 | 1,360 | |
75 |
5,008 | 5,946 | 1,846 | 4,055 | 1,360 | |
76B |
4,594 | - | - | - | - | |
65/66B |
19,572 | 12,372 | 11,584 | 5,330 | 1,234 | |
65 |
19,572 | 12,372 | 11,584 | 5,330 | 1,234 | |
9903 |
58,360 | 63,670 | 44,827 | 75,205 | 53,610 | |
67/77 |
10,042 | 16,064 | 4,631 | 18,327 | 12,496 | |
9904 |
48,318 | 47,606 | 40,197 | 56,878 | 41,114 | |
9905 |
48,318 | 47,606 | 40,197 | 56,878 | 41,114 | |
| Appropriation of the result | ||||||
9906 |
215,263 | 185,795 | 138,189 | 97,992 | 41,114 | |
14P |
166,945 | 138,189 | 97,992 | 41,114 | - | |
694/7 |
- | 18,850 | - | - | - | |
694 |
- | 18,850 | - | - | - | |
| Social balance sheet | ||||||
9087 |
1 | 2 | 2.5 | 3.3 | 2.4 | |
Hours worked1013 |
1,295 | 3,709 | 3,817 | 5,452 | 2,320 | |
| Document | ||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 12-08-2026.
2025 annual accounts filed 12 days after the deadline. Filed on 12 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00393994.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-08-2026 | 2026-00393994 | |
| 31-12-2024 | micro format | 07-08-2025 | 2025-00365990 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00374114 | |
| 31-12-2022 | micro format | 22-08-2023 | 2023-00340183 | |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20321410 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 92,742 | 101,346 | 88,952 | 102,211 | 75,259 | ||
| 72,730 | 78,856 | 74,583 | 82,609 | 62,889 | ||
| 194,691 | 11,379 | 287,900 | 118,328 | 79,794 | ||
| -36,450 | 67,029 | -11,934 | -15,968 | - | ||
| 38,772 | 53,026 | 9,102 | 15,540 | 8,410 | ||
| 33.0% | 33.8% | 26.8% | 33.7% | 21.2% | ||
| 1.32 | 1.45 | 1.07 | 1.11 | 1.05 | ||
| 1.05 | 1.21 | 0.88 | 0.88 | 0.84 | ||
| 2.03 | 1.96 | 2.73 | 1.97 | 3.71 | ||
| 20.5% | 25.4% | 27.7% | 54.2% | 85.5% | ||
| 6.8% | 8.6% | 7.4% | 18.2% | 18.1% | ||
| 4.74 | 8.19 | 7.68 | 19.18 | 60.97 |
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 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 3 | 2 | 3 |
| full-time | 1 | 2 | 3 | 2 | 3 |
| in full-time equivalents | 1 | 2 | 3 | 2 | 3 |
| 1 | 2 | 2.5 | 3.3 | 2.4 | |
| On a permanent contract | 1 | 2 | 3 | 2 | 3 |
| Joined | 4 | 3 | 6 | 6 | 4 |
| Left | 4 | 5 | 5 | 7 | 1 |
| Training hours | 72 | 8 | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €194,691 | €11,379 | €287,900 | €114,658 | €78,640 |
| Intangible fixed assets | - | - | - | - | €1,110 |
| Financial fixed assets | - | - | - | €3,670 | €44 |
| €24,412 | €31,250 | €34,386 | €25,732 | €21,775 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 3% lower than in 2024.
Debt's share of the balance-sheet total rises from 66.2% to 67.0%. Equity and debt are higher.
EFL CONSTRUCT has no parent and no holdings in its annual accounts. FIVET Ludovic Freddy Daniel Ghislain is the only director. EFL CONSTRUCT shares no director with another company.
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
EFL CONSTRUCT was incorporated on 26 April 2021 as a private limited company by one natural person.12 FIVET Ludovic Freddy Daniel Ghislain is director of the company, appointed by deed of 28-04-2021.2 Total assets rose from €226,842 in 2021 to €713,592 in 2025 and headcount from 2.4 to 1 full-time equivalents.3
| Establishment | Since | Unit number |
|---|---|---|
| Rue du Bois-Marie 23 registered office 4500 Huy | 26-04-2021 | 2.316.362.176 |
| Au Tige de Villers 7A 4520 Wanze 16230 Manufacture of other builders' carpentry and joinery | 24-04-2023 | 2.344.389.832 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 61070A0115/00S003 | 1,882 m² | 1 · 486 m² | 9.5 m · 3 |
| 61322A0061/00W004 | 980 m² | 1 · 152 m² | 7.1 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 0767.502.107
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