FINISH CONSTRUCT
ActiveFrom the official registers: KBO 15 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of FINISH CONSTRUCT is 4.3% (elevated). The annual accounts of FINISH CONSTRUCT for financial year 2025 show a net loss of 59% of the equity at the start of that year. The 2025 annual accounts show equity of €30,733 and a net result of -€44,330. Equity is growing by about 9.3% per year across the filed financial years. Its solvency ranks better than 20% of 9,368 sector peers (NACE 41, financial year 2025). The company has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Official details
KBO- Status
- Active since 14-10-2010 Normal situation
- Legal form
- Private limited company
- Registered office
- Oude Vijversstraat 40, 1190 Vorst
- Activity
- General construction of residential buildings NACE 41001and 1 other
- Establishment unit
- 2.199.340.782 1620 Drogenbos, since 01-11-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2025
How it is doing
- Bankruptcy probabilitywithin 12 months
- 4.3%
- Gross margin
- €93,122
- ▲ 60.9%
- Turnover
- ≈ €490,000
- estimated
- Loss
- €44,330
- Equity
- €30,733
- ▼ 59.1%
- Total assets
- €248,889
- ▲ 63.4%
- Staff
- 2 FTE
Why 46raises riskLast filed accounts filed 76 days late; 3 of the last 3 lateSector: Construction of residential and non-residential buildings (NACE 41)Loss of €44,330 (financial year 2025)lowers riskFounded in 2010Show the evidence
Checked score
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 20% on solvency, 35% on liquidity, 5% on profitability and 9% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 154 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
2025 annual accounts filed late (76 days) Filed on 15 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00560446.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 15-10-2026
- Format
- micro format
- Reference
- 2026-00560446
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €33,183 after €20,827 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 1,294 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 89.6% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 4.3% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,294 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €170,311 | €221,630 | €73,185 | €28,924 | €79,503 | ▲ 175% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,294 | €19,686 | €3,060 | €2,706 | €2,882 | €3,087 | €2,288 | €23,865 | ▲ 943% |
| Other operating charges640/8 | - | - | - | €2,939 | €2,791 | €11,255 | €5,838 | €22,937 | ▲ 293% |
| Gross operating margin9900 | €259,925 | €235,001 | €228,213 | €198,786 | €241,148 | €108,061 | €57,877 | €93,122 | ▲ 60.9% |
| Operating profit (loss)9901 | €6,062 | €18,102 | €14,142 | €22,830 | €13,845 | €20,534 | €20,827 | -€33,183 | - |
| Financial income75/76B | - | - | - | €57 | €277 | €58 | €199 | €53 | ▼ 73.4% |
| Recurring financial income75 | €692 | €16 | €248 | €57 | €277 | €58 | €199 | €53 | ▼ 73.4% |
| Financial charges65/66B | - | - | - | €3,759 | €4,350 | €12,065 | €13,761 | €7,611 | ▼ 44.7% |
| Recurring financial charges65 | €4,797 | €10,894 | €4,394 | €3,759 | €4,350 | €12,065 | €13,761 | €7,611 | ▼ 44.7% |
| Profit (loss) for the period before taxes9903 | €1,957 | €7,224 | €9,996 | €19,128 | €9,772 | €8,527 | €7,265 | -€40,741 | - |
| Income taxes67/77 | €1,106 | €2,978 | €2,714 | €6,589 | €3,033 | €6,367 | €6,829 | €3,589 | ▼ 47.4% |
| Profit (loss) for the period9904 | €851 | €4,246 | €7,282 | €12,539 | €6,739 | €2,160 | €436 | -€44,330 | - |
| Profit (loss) for the period to be appropriated9905 | €851 | €4,246 | €7,282 | €12,539 | €6,739 | €2,160 | €436 | -€44,330 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €194,861 | €236,052 | €212,018 | €236,003 | €290,503 | €265,775 | €152,337 | €248,889 | ▲ 63.4% |
| Fixed assets21/28 | €63,322 | €42,554 | €9,817 | €9,911 | €9,724 | €7,137 | €12,699 | €167,351 | ▲ 13× |
| Tangible fixed assets22/27 | €62,922 | €42,154 | €9,417 | €6,711 | €4,985 | €1,898 | €6,960 | €161,612 | ▲ 23× |
| Plant, machinery and equipment23 | - | - | - | €4,142 | €2,589 | €1,036 | - | - | - |
| Furniture and vehicles24 | - | - | - | €2,569 | €2,396 | €862 | €6,960 | €4,906 | ▼ 29.5% |
| Leasing and similar rights25 | - | - | - | - | - | - | - | €154,954 | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €1,752 | - |
| Financial fixed assets28 | €400 | €400 | €400 | €3,200 | €4,739 | €5,239 | €5,739 | €5,739 | = |
| Current assets29/58 | €131,539 | €193,498 | €202,201 | €226,092 | €280,779 | €258,638 | €139,638 | €81,538 | ▼ 41.6% |
| Amounts receivable within one year40/41 | €114,873 | €167,092 | €191,211 | €171,464 | €260,816 | €256,925 | €133,818 | €61,110 | ▼ 54.3% |
| Trade receivables40 | - | - | - | €171,464 | €201,858 | €186,559 | €107,706 | €29,096 | ▼ 73.0% |
| Other amounts receivable41 | - | - | - | - | €58,958 | €70,366 | €26,112 | €32,014 | ▲ 22.6% |
| Cash at bank and in hand54/58 | €14,761 | €25,422 | €10,990 | €54,628 | €19,757 | €1,066 | €5,652 | €17,655 | ▲ 212% |
| Deferred charges and accrued income490/1 | - | - | - | - | €206 | €647 | €168 | €2,773 | ▲ 17× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €194,861 | €236,052 | €212,018 | €236,003 | €290,503 | €265,775 | €152,337 | €248,889 | ▲ 63.4% |
| Equity10/15 | €41,661 | €45,907 | €53,189 | €65,728 | €72,467 | €74,627 | €75,063 | €30,733 | ▼ 59.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €21,201 | €25,447 | €32,729 | €45,268 | €52,007 | €54,167 | €54,603 | €10,273 | ▼ 81.2% |
| Amounts payable17/49 | €153,200 | €190,145 | €158,829 | €170,275 | €218,036 | €191,148 | €77,274 | €218,156 | ▲ 182% |
| Amounts payable after more than one year17 | €2,852 | - | - | - | - | - | - | €104,248 | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €104,248 | - |
| Amounts payable within one year42/48 | €150,348 | €190,145 | €158,829 | €170,275 | €218,036 | €191,148 | €77,274 | €103,092 | ▲ 33.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €26,319 | - |
| Financial debts43 | - | - | - | €60,000 | €60,000 | €60,000 | - | - | - |
| Credit institutions430/8 | - | - | - | €60,000 | €60,000 | €60,000 | - | - | - |
| Trade debts44 | €50,153 | €51,095 | €19,619 | €26,175 | €25,887 | €29,798 | €17,473 | €15,967 | ▼ 8.6% |
| Suppliers440/4 | - | - | - | €26,175 | €25,887 | €29,798 | €17,473 | €15,967 | ▼ 8.6% |
| Taxes, remuneration and social security45 | - | - | - | €65,827 | €110,154 | €100,005 | €39,339 | €60,806 | ▲ 54.6% |
| Taxes450/3 | - | - | - | €11,239 | €32,206 | €41,852 | €17,937 | €18,458 | ▲ 2.9% |
| Remuneration and social security454/9 | - | - | - | €54,588 | €77,948 | €58,153 | €21,402 | €42,348 | ▲ 97.9% |
| Other amounts payable47/48 | - | - | - | €18,273 | €21,995 | €1,345 | €20,462 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €10,816 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €851 | €4,246 | €7,282 | €12,539 | €6,739 | €2,160 | €436 | -€44,330 | - |
| + Depreciation and write-downs630 | €28,294 | €19,686 | €3,060 | €2,706 | €2,882 | €3,087 | €2,288 | €23,865 | ▲ 943% |
| Operating cash flow (approximation) | €29,145 | €23,932 | €10,342 | €15,245 | €9,621 | €5,247 | €2,724 | -€20,465 | - |
| Investment in fixed assets (approximation) | - | €1,082 | €29,677 | -€2,800 | -€2,695 | -€500 | -€7,850 | -€178,517 | ▼ 2,174% |
| Change in cash | - | €10,661 | -€14,432 | €43,638 | -€34,871 | -€18,691 | €4,586 | €12,003 | ▲ 162% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-10-2026 | 2026-00560446 | NBB |
| 31-12-2024 | micro format | 17-12-2025 | 2025-00583799 | |
| 31-12-2023 | micro format | 10-01-2025 | 2025-00003458 | |
| 31-12-2022 | micro format | 20-06-2024 | 2024-00146702 | |
| 31-12-2021 | micro format | 12-10-2022 | 2022-20461891 | |
| 31-12-2020 | micro format | 09-02-2022 | 2022-05300457 | |
| 31-12-2019 | micro format | 20-11-2020 | 2020-71400298 | |
| 31-12-2018 | micro format | 02-10-2019 | 2019-68800334 | |
| 31-12-2017 | micro format | 20-10-2018 | 2018-69800177 | |
| 31-12-2016 | micro format | 28-09-2017 | 2017-65200207 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
How the board is organised
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 14. Rémunération des administrateurs L’assemblée générale décide si le mandat d’administrateur est ou non exercé gratuitement. Si le…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d'administration, nommés avec ou sans limitation durée”
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale, formes prévues modifications aux statuts”
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment, administrateurs en fonction”
Articles of association, deed of 13-12-2023
Owners and capital
Capital and shareholders
- 13-12-2023 Converted to unavailable equity · €20,460
Shares according to the articles of association
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
- Other provision: “Appels de fonds, actions entièrement libérées à émission”Other provision: “Apport en numéraire avec émission nouvelles actions – droit de préférence, ouverture et délai fixés par organe qui procède à émission”Other provision: “Compte de capitaux propres statutairement disponible, compte de capitaux propres disponible”Other provision: “Nominatives, Nature des actions”Other provision: “Nominatifs, Nature des autres titres”Other provision: “Pouvoir d'administration interne, tous actes nécessaires ou utiles accomplissement objet”Other provision: “Gratuitement ou non, Rémunération des administrateurs”Other provision: “Contrôle de la société, lorsque loi exige et limites prévoit”Other provision: “Dans les limites de la loi, assemblée générale par procédure écrite”Other provision: “Administrateur,défaut actionnaire présent plus d’actions,parité plus âgé, séances-procès-verbaux”Other provision: “Délibérations, actions sans droit de vote”Other provision: “Organe d’administration, séance tenante”Other provision: “Répartition-réserves, bénéfice exercice en cours ou précédent tant que comptes non approuvés”Liquidation distribution: “Biens conservés remis même proportion, actif net entre actionnaires proportion actions”Other provision: “Siège, élection de domicile”Other provision: “Tribunaux du siège, litige société,actionnaires,administrateurs,commissaires,liquidateurs,affaires société,exécution statuts”Other provision: “Droit commun, dispositions Code sociétés et associations auxquelles pas licitement dérogé”2 more provisions in the deed, see the deed of 13-12-2023
Articles of association, deed of 13-12-2023 (in French)
Group and network
Connections & network
See the function holders in the KBO register.
History
Acts, filings and financial milestones
13-12
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsLegal form clause · Capital conversion · Reserve release7 facts ▸
- Legal form clause, “forme légale du CSA se rapprochant le plus de forme actuelle, société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Reserve release, “suppression”, 20460 (deed in French)
- Amendment of the articles
- Capital
- Director in office, BOUJDAINI Ismaël (director)
- Power of attorney (2 times)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
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, with enterprise number 0830.290.702
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose according to the articles of association
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- FINISH CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, établissement ou suppression sièges d'exploitation par simple décision organe d'administration pour autant que…”
Articles of association, deed of 13-12-2023 (in French)
Recognitions · licences · registrations
Dual-learning approval
2 endedEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
1 establishment unit
Buildings and parcels at the addresses
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 22001A0066/00C002 | Flanders | 7,226 m² | 1 · 2,505 m² | 10.6 m · 1 |
| 21382C0028/00G003 | Brussels | 1,894 m² | 1 · 682 m² | 8.8 m · 3 |