FIRST BOUW
ActiveSummary
The computed 12-month bankruptcy probability of FIRST BOUW is 2.0% (moderate). The 2025 annual accounts show equity of €4,365 and a net result of €909. Equity is growing by ~71.2% per year across the filed fiscal years. Its solvency ranks better than 82% of 7598 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-8
Solvency99▲+43
Growth78=
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 →
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 6 filingsDeviation from the deadline
2025
25 d late
2024
28 d early
2023
36 d early
2022
26 d early
2021
16 d early
2020
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 20 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 5 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€4,365▲ 26.3%
2024 · €3,456
Total assets
€5,904▼ 47.8%
2024 · €11,303
Net result
€909▼ 35.0%
2024 · €1,398
Working capital
€4,365▲ 152%
2024 · €1,731
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
Operating result€349€847▲ 143%€2,163▲ 155%€2,260▲ 4.5%€2,330▲ 3.1%
Net result€47within the sector's middle half€541within the sector's middle half▲ 1,040%€1,396within the sector's middle half▲ 158%€1,398within the sector's middle half▲ 0.1%€909within the sector's middle half▼ 35.0%
Equity€120below the sector's middle half▲ 65.0%€662below the sector's middle half▲ 449%€2,058below the sector's middle half▲ 211%€3,456below the sector's middle half▲ 68.0%€4,365below the sector's middle half▲ 26.3%
Total assets€28,384below the sector's middle half▲ 410%€11,495below the sector's middle half▼ 59.5%€7,772below the sector's middle half▼ 32.4%€11,303below the sector's middle half▲ 45.4%€5,904below the sector's middle half▼ 47.8%
Debt€28,263▲ 415%€10,833▼ 61.7%€5,714▼ 47.3%€7,847▲ 37.3%€1,538▼ 80.4%
Working capital€17,387within the sector's middle half-€1,000below the sector's middle half€969below the sector's middle half€1,731below the sector's middle half▲ 78.7%€4,365within the sector's middle half▲ 152%
Solvency0.4%below the sector's middle half▼ 0.9pp5.8%below the sector's middle half▲ 5.3pp26.5%within the sector's middle half▲ 20.7pp30.6%within the sector's middle half▲ 4.1pp73.9%above the sector's middle half▲ 43.4pp
Current ratio2.98above the sector's middle half▲ 2.480.91below the sector's middle half▼ 2.081.17within the sector's middle half▲ 0.261.22within the sector's middle half▲ 0.053.84above the sector's middle half▲ 2.62
Return on assets (ROA)0.2%within the sector's middle half▲ 34.8pp4.7%within the sector's middle half▲ 4.5pp18.0%within the sector's middle half▲ 13.3pp12.4%within the sector's middle half▼ 5.6pp15.4%within the sector's middle half▲ 3.0pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €5,904
Equity
€4,365 ▲ 26.3%
Debt
€1,538 ▼ 80.4%
Debt's share of the balance-sheet total falls from 69.4% to 26.1%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.35▼
2024 · 2.27
ROE
20.8%▼
2024 · 40.5%
Debt ≤ 1 year
€1,538▼
2024 · €7,847
Income taxes
€580▼
2024 · €671
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% 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 497,338 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 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% 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 26,975 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €572 | €572 | €572 | €779 | - | - |
| Other operating charges640/8 | €101 | €102 | €499 | €569 | €520 | ▼ 8.7% |
| Gross operating margin9900 | €1,021 | €1,521 | €3,234 | €3,609 | €2,850 | ▼ 21.0% |
| Operating profit (loss)9901 | €349 | €847 | €2,163 | €2,260 | €2,330 | ▲ 3.1% |
| Financial income75/76B | €0 | - | - | €7 | - | - |
| Recurring financial income75 | €0 | - | - | €7 | - | - |
| Financial charges65/66B | €301 | €306 | €248 | €197 | €841 | ▲ 327% |
| Recurring financial charges65 | €301 | €306 | €248 | €197 | €841 | ▲ 327% |
| Profit (loss) for the period before taxes9903 | €47 | €541 | €1,915 | €2,070 | €1,489 | ▼ 28.1% |
| Income taxes67/77 | - | - | €518 | €671 | €580 | ▼ 13.6% |
| Profit (loss) for the period9904 | €47 | €541 | €1,396 | €1,398 | €909 | ▼ 35.0% |
| Profit (loss) for the period to be appropriated9905 | €47 | €541 | €1,396 | €1,398 | €909 | ▼ 35.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28,384 | €11,495 | €7,772 | €11,303 | €5,904 | ▼ 47.8% |
| Fixed assets21/28 | €2,233 | €1,661 | €1,089 | €1,725 | - | - |
| Tangible fixed assets22/27 | €2,233 | €1,661 | €1,089 | €1,725 | - | - |
| Plant, machinery and equipment23 | - | - | - | €1,208 | - | - |
| Furniture and vehicles24 | €2,233 | €1,661 | €1,089 | €517 | - | - |
| Current assets29/58 | €26,151 | €9,834 | €6,682 | €9,578 | €5,904 | ▼ 38.4% |
| Amounts receivable within one year40/41 | €13,722 | €9,246 | €3,154 | €3,907 | €4,209 | ▲ 7.7% |
| Trade receivables40 | €13,722 | €8,891 | €1,744 | €2,959 | - | - |
| Other amounts receivable41 | - | €355 | €1,410 | €948 | €4,209 | ▲ 344% |
| Cash at bank and in hand54/58 | €12,429 | €588 | €3,529 | €5,671 | €1,695 | ▼ 70.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28,384 | €11,495 | €7,772 | €11,303 | €5,904 | ▼ 47.8% |
| Equity10/15 | €120 | €662 | €2,058 | €3,456 | €4,365 | ▲ 26.3% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | - | - | €58 | €1,456 | €2,365 | ▲ 62.4% |
| Distributable reserves133 | - | - | €58 | €1,456 | €2,365 | ▲ 62.4% |
| Profit (loss) carried forward14 | -€1,880 | -€1,338 | - | - | - | - |
| Amounts payable17/49 | €28,263 | €10,833 | €5,714 | €7,847 | €1,538 | ▼ 80.4% |
| Amounts payable within one year42/48 | €8,763 | €10,833 | €5,714 | €7,847 | €1,538 | ▼ 80.4% |
| Trade debts44 | - | - | €2,344 | €7,143 | €303 | ▼ 95.8% |
| Suppliers440/4 | - | - | €2,344 | €7,143 | €303 | ▼ 95.8% |
| Taxes, remuneration and social security45 | €4,425 | €33 | €551 | €704 | €580 | ▼ 17.6% |
| Taxes450/3 | €4,425 | €33 | €551 | €704 | €580 | ▼ 17.6% |
| Other amounts payable47/48 | €4,339 | €10,801 | €2,818 | - | €656 | - |
| Accrued charges and deferred income492/3 | €19,500 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47 | €541 | €1,396 | €1,398 | €909 | ▼ 35.0% |
| + Depreciation and write-downs630 | €572 | €572 | €572 | €779 | - | - |
| Operating cash flow (approximation) | €619 | €1,113 | €1,968 | €2,178 | €909 | ▼ 58.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,415 | - | - |
| Change in cash | - | -€11,841 | €2,941 | €2,143 | -€3,977 | ▼ 286% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Liquidity triplescurrent ratio 3.84
Current ratio from 1.22 to 3.84; short-term debt falls from €7,847 to €1,538.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €1,398 ▲0.1%
Net result €1,398, the highest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €47
Net result €47 after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 2.98
Current ratio from 0.50 to 2.98.
20-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Antwerpen · 1 establishment unit since 2020
Ground area
132 m²
Building footprint
54 m²
Volume, LiDAR
472 m³
Parcel 11028A0139/00K008, Flanders · tallest building 9.7 m, ±3 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
FIRST BOUW
since 20202.303.232.930
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11028A0139/00K008 | Flanders | 132 m² | 1 · 54 m² | 9.7 m · 3 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.
Similar companies · same sector, comparable size
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BE 0806.457.802
Antwerpen · Eq €4,355
SOUZA & FREITAS CONSTRUCT
BE 0788.529.034
Brussel · Eq €4,380
Dutré build
BE 0801.303.835
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RENUG
BE 0730.805.819
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Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. 5,925 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43110Demolition
43240Other construction installation
43331Floor and wall tiling
43341Painting of buildings
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0748515742
Also
9925:BE0748515742
Registered
03-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.