ETHICAL CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of ETHICAL CONSTRUCT is 2.9% (moderate). The 2024 annual accounts show equity of €5,611 and a net result of €2,229. Equity is growing by ~38% per year across the filed fiscal years. Its solvency ranks better than 18% of 9975 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
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Signals
This company filed its last 3 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
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Peer companies
Historical observationOf the 2,136 companies that looked in July 2024 the way this one looks now, 4.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 2,136 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.
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €14,466 | €156,377 | ▲ 981% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €896 | - | - | - |
| Other operating charges640/8 | €909 | €1,705 | €910 | ▼ 46.6% |
| Gross operating margin9900 | €3,105 | €17,287 | €160,184 | ▲ 827% |
| Operating profit (loss)9901 | €1,300 | €1,116 | €2,897 | ▲ 160% |
| Financial income75/76B | €3 | - | - | - |
| Recurring financial income75 | €3 | - | - | - |
| Financial charges65/66B | - | €664 | €46 | ▼ 93.0% |
| Recurring financial charges65 | - | €664 | €46 | ▼ 93.0% |
| Profit (loss) for the period before taxes9903 | €1,302 | €452 | €2,851 | ▲ 531% |
| Income taxes67/77 | €260 | €113 | €621 | ▲ 452% |
| Profit (loss) for the period9904 | €1,042 | €339 | €2,229 | ▲ 557% |
| Profit (loss) for the period to be appropriated9905 | €1,042 | €339 | €2,229 | ▲ 557% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €33,404 | €74,913 | €63,192 | ▼ 15.6% |
| Current assets29/58 | €33,404 | €74,913 | €63,192 | ▼ 15.6% |
| Amounts receivable within one year40/41 | €22,436 | €60,875 | €58,106 | ▼ 4.5% |
| Trade receivables40 | €22,436 | €60,875 | €57,122 | ▼ 6.2% |
| Other amounts receivable41 | - | - | €984 | - |
| Cash at bank and in hand54/58 | €10,968 | €14,038 | €5,086 | ▼ 63.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €33,404 | €74,913 | €63,192 | ▼ 15.6% |
| Equity10/15 | €3,042 | €3,381 | €5,611 | ▲ 65.9% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €1,042 | €1,381 | €3,611 | ▲ 161% |
| Amounts payable17/49 | €30,362 | €71,532 | €57,582 | ▼ 19.5% |
| Amounts payable within one year42/48 | €30,362 | €66,940 | €57,582 | ▼ 14.0% |
| Trade debts44 | €23,728 | €49,764 | €9,405 | ▼ 81.1% |
| Suppliers440/4 | €23,728 | €49,764 | €9,405 | ▼ 81.1% |
| Taxes, remuneration and social security45 | €6,077 | €16,200 | €24,015 | ▲ 48.2% |
| Taxes450/3 | €6,077 | €14,032 | €17,006 | ▲ 21.2% |
| Remuneration and social security454/9 | - | €2,168 | €7,009 | ▲ 223% |
| Other amounts payable47/48 | €557 | €977 | €24,161 | ▲ 2,374% |
| Accrued charges and deferred income492/3 | - | €4,591 | - | - |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,042 | €339 | €2,229 | ▲ 557% |
| + Depreciation and write-downs630 | €896 | - | - | - |
| Operating cash flow (approximation) | €1,938 | €339 | €2,229 | ▲ 557% |
| Change in cash | - | €3,070 | -€8,952 | ▼ 392% |
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
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56033A0504/00M000 | Wallonia | 1,151 m² | - | - |
Linked by address, not proof of ownership
Similar companies · same sector, comparable size
Identification & contact
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.