Investments
Green is investment, beige is depreciation.
Green is investment, beige is depreciation.
The 2023 accounts came latest: 72 days after the end of the period.
The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).
About 4 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 44% of them on solvency, 23% on liquidity, 66% on profitability and 78% 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 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, 39,278 companies had the same profile as FAA Construct has now. Each dot stands for 99 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FAA Construct itself is higher: 4.3% within 12 months. It rests on far more data about FAA Construct than the profile alone.
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 39,278 companies, not a prediction for FAA 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 1.41 (1.31 in 2024), below the usual 1.5. Short-term debt is 62.5% and cash 8.9% of total assets. 63.8% 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 4 accounts on average 35 days after 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 | ||||
|---|---|---|---|---|
| FAA Construct Kraainem | - | - | 36.2% | - |
| Rover & Co Kraainem | - | - | 46.4% | - |
| BR_PEDROSA Kraainem | - | - | 43.4% | - |
| N&G BAT Ternat | €155,895 | 7.3% | 23.5% | - |
| CUMI BUILDING Sint-Pieters-Leeuw | €207,781 | 3.4% | 50.7% | - |
| PRO TOM Opwijk | €210,464 | 4.2% | 46.5% | - |
| JAN NICOLAS Asse | - | - | 46.2% | - |
These companies have the same main activity as FAA Construct: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €75,000 and €92,000, founded between 2020 and 2022.
FAA Construct files the micro format. That format states no turnover. The gross margin rose from €10,422 in 2022 to €17,165 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 ≈ €210,000. Estimated: probably between €110,000 and €370,000.
Higher than 43% of 9,471 companies in 2025.
Higher than 40% of 9,219 companies in 2025.
Higher than 61% of 9,291 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
84,007 | 69,674 | 26,994 | 31,847 | |
21/28 |
10,152 | 6,896 | 9,536 | 5,886 | |
22/27 |
9,352 | 6,096 | 8,736 | 5,886 | |
23 |
4,552 | 6,096 | 6,799 | 2,318 | |
24 |
4,800 | - | 1,937 | 3,568 | |
28 |
800 | 800 | 800 | - | |
29/58 |
73,855 | 62,778 | 17,458 | 25,960 | |
40/41 |
65,258 | 62,778 | 15,164 | 24,959 | |
40 |
38,272 | 31,983 | 13,186 | 23,573 | |
41 |
26,986 | 30,795 | 1,978 | 1,386 | |
54/58 |
7,444 | - | 1,764 | 663 | |
490/1 |
1,152 | - | 530 | 338 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
84,007 | 69,674 | 26,994 | 31,847 | |
10/15 |
30,421 | 20,889 | 6,106 | 8,845 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
13 |
27,421 | 17,889 | 3,106 | 5,845 | |
133 |
27,421 | 17,889 | 3,106 | 5,845 | |
17/49 |
53,586 | 48,786 | 20,888 | 23,001 | |
42/48 |
52,519 | 48,036 | 20,824 | 23,001 | |
43 |
4,136 | 6,882 | 248 | 152 | |
430/8 |
4,136 | 6,882 | 248 | 152 | |
44 |
34,718 | 28,278 | 18,139 | 20,409 | |
440/4 |
34,718 | 28,278 | 18,139 | 20,409 | |
45 |
13,665 | 12,877 | 2,437 | 2,336 | |
450/3 |
9,665 | 12,177 | 2,437 | 2,336 | |
454/9 |
4,000 | 700 | - | - | |
47/48 |
- | - | - | 105 | |
492/3 |
1,067 | 750 | 64 | - | |
| Income statement | |||||
76A |
- | - | 195 | - | |
9900 |
17,165 | 18,286 | 332 | 10,422 | |
630 |
3,103 | 1,896 | 2,358 | 2,561 | |
640/8 |
895 | 329 | 616 | 451 | |
66A |
- | 1,437 | - | - | |
9901 |
13,167 | 14,623 | -2,643 | 7,410 | |
75/76B |
1,510 | 918 | 35 | 0 | |
75 |
1,510 | 918 | 35 | 0 | |
65/66B |
2,043 | 588 | 132 | - | |
65 |
2,043 | 588 | 132 | - | |
9903 |
12,633 | 14,952 | -2,739 | 7,410 | |
67/77 |
3,101 | 3,187 | - | 1,565 | |
9904 |
9,532 | 11,765 | -2,739 | 5,845 | |
9905 |
9,532 | 11,765 | -2,739 | 5,845 | |
| Appropriation of the result | |||||
9906 |
9,532 | 11,765 | -2,739 | 5,845 | |
791/2 |
- | - | 2,739 | - | |
691/2 |
9,532 | 11,765 | - | 5,845 | |
6921 |
9,532 | 11,765 | - | 5,845 | |
| Document | |||||
The notes to these accounts have 7 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 26-08-2026.
2025 annual accounts filed 26 days after the deadline. Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00496008.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 16,270 | 16,519 | -285 | 9,972 | ||
| 12,635 | 13,661 | -381 | 8,407 | ||
| 6,359 | 1,193 | 6,640 | 6,448 | ||
| - | - | 1,101 | - | ||
| 21,336 | 14,742 | -3,367 | 2,959 | ||
| 36.2% | 30.0% | 22.6% | 27.8% | ||
| 1.41 | 1.31 | 0.84 | 1.13 | ||
| 1.76 | 2.34 | 3.42 | 2.60 | ||
| 31.3% | 56.3% | -44.9% | 66.1% | ||
| 11.3% | 16.9% | -10.1% | 18.4% | ||
| 7.96 | 28.08 | -2.16 | - |
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 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €6,359 | €1,193 | €5,840 | €6,448 |
| Financial fixed assets | - | - | €800 | - |
| €3,103 | €1,896 | €2,358 | €2,561 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 10% lower than in 2024.
Debt's share of the balance-sheet total falls from 70.0% to 63.8%. Equity and debt are higher.
FAA Construct has no parent and no holdings in its annual accounts. ALIJI, Xhihat is the only director. FAA Construct shares no director with another company.
| EFFICY
registered office since 13-03-2006 · founded in 2005 |
74 FTE (2025) 0875.895.449 |
| VERISURE
establishment since 15-11-2021 · founded in 1997 · group Verisure Midholding AB |
201 FTE (2025) 0459.866.904 |
| Efficy HoldCo
registered office since 16-10-2025 · founded in 2025 · group EFFICY |
total assets €124.5m (2025) 1029.273.829 |
| INFORMEX
registered office since 31-01-1983 · founded in 1983 |
12 FTE (2025) 0423.709.559 |
| NOVASOL
registered office since 13-06-1997 · founded in 1997 · group EGREGORA · accounts filed late |
13 FTE (2024) 0460.802.557 |
| Verzekeringskantoor Van Dessel
establishment since 01-04-2018 · founded in 1991 |
164 FTE (2025) 0446.433.491 |
| VERISURE SECURITY
establishment since 15-11-2021 · founded in 2005 · group Verisure Midholding AB |
390 FTE (2025) 0877.035.396 |
| Efficy Finco
registered office since 23-07-2025 · founded in 2025 · negative equity (2025) · group EFFICY |
total assets €30.0m (2025) 1025.813.503 |
| CENTER FOR CREATIVE LEADERSHIP
establishment since 27-07-1990 · founded in 1990 |
80 FTE (2019) 0544.219.785 |
| PerkinElmer (Belgium)
registered office since 18-10-2022 · founded in 2022 · accounts filed late |
32 FTE (2024) 0792.588.483 |
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
On 12 December 2021, FAA Construct was incorporated as a private limited company by one natural person, with a starting capital of €3,000.12 ALIJI, Xhihat has served as director since 2021.3 Total assets went from €31,847 in 2022 to €84,007 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Steenweg op Mechelen 455 registered office 1950 Kraainem | ||
| Rue d'Amérique 14 4500 Huy | 15-01-2022 | 2.327.322.582 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 22002C0073/00N009 | 1.1 ha | 1 · 865 m² | 42.8 m · 14 |
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 0778.520.218
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