EXECON
ActiveSummary
EXECON has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.4m and a net result of €26,741. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 72% of 851 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability19▼-43
Solvency80▼-7
Growth56▼-1
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €440,000 at 30 days acceptable
Liquidity ample (current ratio 2.14 against 2.53 in 2024; short-term debt: 45.3% and cash: 10.3% of total assets), and 45.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
54.7%
Return on assets
0.2%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
72 d early
2023
62 d early
2022
84 d early
2021
81 d early
2020
75 d early
2019
95 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 71 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 20 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check
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Financials · fiscal year 2025, full schema
In the rankings
#2 company by equity in Lummen, Construction sector#3 company by total assets in Lummen, Construction sector#6 employer in Lummen, Construction sector
Turnover
€28.2m▲ 3.9%
2024 · €27.1m
EBIT margin
-0.5%▼ 3.3pp
2024 · 2.8%
Net result
€26,741▼ 96.4%
2024 · €751,715
Working capital
€7.0m▼ 0.3%
2024 · €7.0m
Trend over the years
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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€19.5m▲ 4.4%€24.3m▲ 24.5%€23.9m▼ 1.8%€27.1m▲ 13.6%€28.2m▲ 3.9%
Operating result€162,904▼ 77.7%€1.2m▲ 627%€940,009▼ 20.7%€760,368▼ 19.1%-€134,021
Net result€258,861above the sector's middle half▼ 51.4%€805,896above the sector's middle half▲ 211%€783,041above the sector's middle half▼ 2.8%€751,715above the sector's middle half▼ 4.0%€26,741within the sector's middle half▼ 96.4%
EBIT margin0.8%▼ 3.1pp4.9%▲ 4.0pp3.9%▼ 0.9pp2.8%▼ 1.1pp-0.5%▼ 3.3pp
Equity€7.3mabove the sector's middle half▲ 3.7%€7.3mabove the sector's middle half=€7.3mabove the sector's middle half▲ 0.5%€7.4mabove the sector's middle half▲ 0.7%€7.4mabove the sector's middle half▲ 0.4%
Total assets€11.9mabove the sector's middle half▲ 8.1%€12.7mabove the sector's middle half▲ 7.0%€13.5mabove the sector's middle half▲ 6.0%€11.9mabove the sector's middle half▼ 11.4%€13.5mabove the sector's middle half▲ 13.2%
Debt€4.6m▲ 15.9%€5.4m▲ 18.1%€6.2m▲ 13.3%€4.6m▼ 25.8%€6.1m▲ 33.8%
Working capital€7.1mabove the sector's middle half▲ 4.7%€7.1mabove the sector's middle half▲ 0.2%€7.1mabove the sector's middle half▼ 0.1%€7.0mabove the sector's middle half▼ 1.3%€7.0mabove the sector's middle half▼ 0.3%
Solvency61.2%above the sector's middle half▼ 2.6pp57.2%above the sector's middle half▼ 4.0pp54.3%above the sector's middle half▼ 3.0pp61.7%above the sector's middle half▲ 7.4pp54.7%within the sector's middle half▼ 7.0pp
Current ratio2.53above the sector's middle half▼ 0.172.30above the sector's middle half▼ 0.232.15within the sector's middle half▼ 0.152.53above the sector's middle half▲ 0.392.14within the sector's middle half▼ 0.40
Return on assets (ROA)2.2%within the sector's middle half▼ 2.7pp6.3%within the sector's middle half▲ 4.2pp5.8%within the sector's middle half▼ 0.5pp6.3%within the sector's middle half▲ 0.5pp0.2%within the sector's middle half▼ 6.1pp
Staff (FTE)25.9within the sector's middle half▼ 1.1%21.2within the sector's middle half▼ 18.1%20.3within the sector's middle half▼ 4.2%23.4within the sector's middle half▲ 15.3%24.5within the sector's middle half▲ 4.7%
above
within
below
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.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €134,021 after €760,368 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.5m
Fixed assets
€440,680 ▲ 5.2%
Current assets
€13.1m ▲ 13.5%
Equity and liabilities €13.5m
Equity
€7.4m ▲ 0.4%
Debt
€6.1m ▲ 33.8%
Debt's share of the balance-sheet total rises from 38.3% to 45.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€19,096▼
2024 · €846,296
Cash flow
€141,666▼
2024 · €837,642
Debt to equity
0.83▲
2024 · 0.62
ROE
0.4%▼
2024 · 10.2%
Interest coverage
-292.61▼
2024 · 3304.16
Debt ≤ 1 year
€6.1m▲
2024 · €4.6m
Income taxes
€22,660▼
2024 · €229,058
Staff costs
€2.2m▲
2024 · €1.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 14,733 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €19.6m | €24.3m | €24.0m | €27.2m | €28.2m | ▲ 3.6% |
| Turnover70 | €19.5m | €24.3m | €23.9m | €27.1m | €28.2m | ▲ 3.9% |
| Other operating income74 | €49,439 | €20,599 | €133,222 | €150,926 | €61,853 | ▼ 59.0% |
| Non-recurring operating income76A | €2,562 | €25 | - | - | - | - |
| Operating charges60/66A | €19.4m | €23.1m | €23.0m | €26.5m | €28.4m | ▲ 7.1% |
| Goods for resale, raw materials and consumables60 | €14.5m | €18.0m | €17.1m | €20.2m | €21.1m | ▲ 4.6% |
| Purchases600/8 | €14.6m | €18.2m | €16.8m | €20.2m | €21.1m | ▲ 4.6% |
| Change in stocks: decrease (increase)609 | -€98,294 | -€147,598 | €245,892 | - | - | - |
| Services and other goods61 | €3.3m | €3.6m | €4.1m | €4.2m | €4.9m | ▲ 17.6% |
| Remuneration, social security and pensions62 | €1.4m | €1.4m | €1.5m | €1.9m | €2.2m | ▲ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €111,210 | €109,115 | €84,481 | €85,927 | €114,925 | ▲ 33.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €20,000 | - | €214,268 | €175,504 | €43,296 | ▼ 75.3% |
| Other operating charges640/8 | €20,902 | €16,846 | €38,083 | €19,716 | €23,536 | ▲ 19.4% |
| Non-recurring operating charges66A | €797 | €250 | €1,150 | €7,500 | €1,875 | ▼ 75.0% |
| Operating profit (loss)9901 | €162,904 | €1.2m | €940,009 | €760,368 | -€134,021 | ▼ 118% |
| Financial income75/76B | €264,561 | €120,240 | €81,176 | €256,579 | €208,332 | ▼ 18.8% |
| Recurring financial income75 | €264,561 | €120,240 | €81,176 | €256,579 | €208,332 | ▼ 18.8% |
| Income from financial fixed assets750 | €10,637 | - | €475 | - | - | - |
| Income from current assets751 | €174,312 | €47,202 | €80,701 | €78,918 | €83,332 | ▲ 5.6% |
| Other financial income752/9 | €79,612 | €73,038 | - | €177,661 | €125,000 | ▼ 29.6% |
| Financial charges65/66B | €53,103 | €168,270 | -€15,506 | €36,175 | €24,909 | ▼ 31.1% |
| Recurring financial charges65 | €53,103 | €168,270 | -€15,506 | €36,175 | €24,909 | ▼ 31.1% |
| Debt charges650 | €917 | €215 | €1,636 | €256 | €65 | ▼ 74.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | €118 | €103,799 | -€77,800 | -€19,682 | -€8,609 | ▲ 56.3% |
| Other financial charges652/9 | €52,067 | €64,256 | €60,658 | €55,601 | €33,453 | ▼ 39.8% |
| Profit (loss) for the period before taxes9903 | €374,363 | €1.1m | €1.0m | €980,772 | €49,401 | ▼ 95.0% |
| Income taxes67/77 | €115,501 | €330,890 | €253,649 | €229,058 | €22,660 | ▼ 90.1% |
| Taxes670/3 | €115,858 | €330,890 | €253,649 | €229,058 | €22,660 | ▼ 90.1% |
| Tax adjustments and reversals of tax provisions77 | €356 | - | - | - | - | - |
| Profit (loss) for the period9904 | €258,861 | €805,896 | €783,041 | €751,715 | €26,741 | ▼ 96.4% |
| Profit (loss) for the period to be appropriated9905 | €258,861 | €805,896 | €783,041 | €751,715 | €26,741 | ▼ 96.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11.9m | €12.7m | €13.5m | €11.9m | €13.5m | ▲ 13.2% |
| Fixed assets21/28 | €221,799 | €208,899 | €249,994 | €418,922 | €440,680 | ▲ 5.2% |
| Tangible fixed assets22/27 | €183,744 | €169,844 | €210,939 | €376,246 | €440,009 | ▲ 16.9% |
| Plant, machinery and equipment23 | €1,223 | €791 | €17,543 | €24,369 | €32,458 | ▲ 33.2% |
| Furniture and vehicles24 | €175,607 | €125,077 | €143,898 | €310,323 | €372,302 | ▲ 20.0% |
| Other tangible fixed assets26 | €6,914 | €43,975 | €49,498 | €41,554 | €35,249 | ▼ 15.2% |
| Financial fixed assets28 | €38,055 | €39,055 | €39,055 | €42,676 | €671 | ▼ 98.4% |
| Other financial fixed assets284/8 | €38,055 | €39,055 | €39,055 | €42,676 | €671 | ▼ 98.4% |
| Shares284 | €3,475 | €3,475 | €3,475 | €3,475 | €50 | ▼ 98.6% |
| Amounts receivable and cash guarantees285/8 | €34,580 | €35,580 | €35,580 | €39,201 | €621 | ▼ 98.4% |
| Current assets29/58 | €11.7m | €12.5m | €13.2m | €11.5m | €13.1m | ▲ 13.5% |
| Stocks and contracts in progress3 | €98,294 | €245,892 | - | - | - | - |
| Stocks30/36 | €98,294 | €245,892 | - | - | - | - |
| Raw materials and consumables30/31 | €98,294 | €245,892 | - | - | - | - |
| Amounts receivable within one year40/41 | €8.4m | €6.7m | €8.3m | €7.1m | €9.8m | ▲ 37.2% |
| Trade receivables40 | €7.8m | €6.2m | €8.0m | €6.5m | €8.9m | ▲ 37.7% |
| Other amounts receivable41 | €585,591 | €519,419 | €278,305 | €625,081 | €827,736 | ▲ 32.4% |
| Current investments50/53 | €1.9m | €1.8m | €3.1m | €2.2m | €1.8m | ▼ 15.5% |
| Other investments51/53 | €1.9m | €1.8m | €3.1m | €2.2m | €1.8m | ▼ 15.5% |
| Cash at bank and in hand54/58 | €1.2m | €3.7m | €1.7m | €2.1m | €1.4m | ▼ 34.6% |
| Deferred charges and accrued income490/1 | €133,816 | €42,733 | €101,748 | €111,766 | €86,627 | ▼ 22.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11.9m | €12.7m | €13.5m | €11.9m | €13.5m | ▲ 13.2% |
| Equity10/15 | €7.3m | €7.3m | €7.3m | €7.4m | €7.4m | ▲ 0.4% |
| Contributions10/11 | €375,000 | €375,000 | €375,000 | €375,000 | €375,000 | = |
| Capital10 | €375,000 | €375,000 | €375,000 | €375,000 | €375,000 | = |
| Issued capital100 | €375,000 | €375,000 | €375,000 | €375,000 | €375,000 | = |
| Reserves13 | €6.9m | €6.9m | €6.9m | €7.0m | €7.0m | ▲ 0.4% |
| Non-distributable reserves130/1 | €37,500 | €37,500 | €37,500 | €37,500 | €37,500 | = |
| Legal reserve130 | €37,500 | €37,500 | €37,500 | €37,500 | €37,500 | = |
| Distributable reserves133 | €6.9m | €6.9m | €6.9m | €7.0m | €7.0m | ▲ 0.4% |
| Amounts payable17/49 | €4.6m | €5.4m | €6.2m | €4.6m | €6.1m | ▲ 33.8% |
| Amounts payable within one year42/48 | €4.6m | €5.4m | €6.2m | €4.6m | €6.1m | ▲ 34.6% |
| Trade debts44 | €4.5m | €4.1m | €5.2m | €3.6m | €5.8m | ▲ 60.6% |
| Suppliers440/4 | €4.5m | €4.1m | €5.2m | €3.6m | €5.8m | ▲ 60.6% |
| Advances received on contracts in progress46 | - | €303,867 | - | - | - | - |
| Taxes, remuneration and social security45 | €136,758 | €229,337 | €195,861 | €223,222 | €296,947 | ▲ 33.0% |
| Taxes450/3 | €15,836 | €49,950 | €17,244 | €41,834 | €43,874 | ▲ 4.9% |
| Remuneration and social security454/9 | €120,922 | €179,386 | €178,617 | €181,388 | €253,073 | ▲ 39.5% |
| Other amounts payable47/48 | €16,590 | €804,995 | €750,038 | €700,078 | €85 | ▼ 100.0% |
| Accrued charges and deferred income492/3 | €1,679 | €1,812 | €1,812 | €26,013 | €1,881 | ▼ 92.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €258,861 | €805,896 | €783,041 | €751,715 | €26,741 | ▼ 96.4% |
| + Depreciation and write-downs630 | €111,210 | €109,115 | €84,481 | €85,927 | €114,925 | ▲ 33.7% |
| Operating cash flow (approximation) | €370,071 | €915,011 | €867,522 | €837,642 | €141,666 | ▼ 83.1% |
| Investment in fixed assets (approximation) | - | -€96,214 | -€125,576 | -€254,855 | -€136,683 | ▲ 46.4% |
| Change in cash | - | €2.5m | -€2.0m | €382,024 | -€732,646 | ▼ 292% |
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
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €26,741 ▼96.4%
Net result drops to €26,741, the lowest in the series.
20-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
08-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
11-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
17-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
17-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
08-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
10-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 17 acts read
About the unread acts
We know of 17 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
17 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, Lummen · 1 establishment unit since 2005
Ground area
4,960 m²
Building footprint
1,570 m²
Volume, LiDAR
15,672 m³
Parcel 71037C2733/00K000, Flanders · tallest building 14.7 m, ±4 floors. Linked by address, not a title deed.
16
companies at this address
See who is registered here
1 establishment unit
EXECON
since 20052.146.837.256
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71037C2733/00K000 | Flanders | 4,960 m² | 1 · 1,570 m² | 14.7 m · 4 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.
Structure & network
Part of the group
VDS GROUP
9 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- VDS GROUP
- EXECON
Highest known parent: VDS GROUP. The sources do not say who stands above it.
Owners 2
- VDS GROUPparent84.99%
-
15%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 9,922 EUR awarded · 9,922 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | -100 EUR | 0 EUR |
| 2024 | 1 | 9,000 EUR | 8,900 EUR |
| 2022 | 1 | 1,022 EUR | 1,022 EUR |
Recognitions · licences · registrations
Recognised contractor
4 categoriesEXECON NV30591
Legal Entity Identifier
529900AN78DL7X4U3325
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Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. 1,372 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded18-04-2005
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0873249725
Also
9925:BE0873249725
Registered
26-11-2024
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.