FIRST CONSTRUCT

Active Private limited companyfounded 2008active for 17 yearsThéodore Verhaegenstraat 196/202, 1060 Sint-Gillis (bij-Brussel)KBO/BCE: BE 0808.222.905

FIRST CONSTRUCT

Follow Report Compare

Overview

Lifetime

16 annual accounts with figures on one time axis

Compare with

peak €124,603 (2024)

€93,804▼ 24.7%

lowest -€33,491 (2019)

€44,901▲ 0.4%

peak €245,344 (2025)

€245,344▲ 22.4%

€114,189▼ 55.6%

Documentsfilings and deeds

12-10-202673 days late

2025micro format

Gross margin from €124,603 to €93,804Amendment of the articles · Legal-form change · Resignations… 30-05Equity from €200,443 to €245,344Debts from €257,361 to €114,189Cash from €106,736 to €157,753

Key points

from the 2025 annual accounts

Liquidity

3.58 was 1.95 in 2024

Short-term debts fell from €256,813 to €114,189.

Filings

16 annual accounts 73 days

Latest accounts filed late: after the legal deadline.

Position in the sector

€245,344

More equity than 87% of companies in specialised construction. Sector median €57,691 · 35,148 companies.

Checked score

Excellent

Financially stronger than 70% of micro companies in specialised construction (NACE 43)

Probability in this band: under 0.55%

Bankruptcy probability within 12 months 0.3% Very low

0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.8% 01-2025: 0.7%▼ -0.1 percentage points vs 12-2024 02-2025: 0.8%▲ +0.1 percentage points vs 01-2025 03-2025: 0.7%▼ -0.1 percentage points vs 02-2025 04-2025: 0.8%▲ +0.1 percentage points vs 03-2025 05-2025: 0.7%▼ -0.1 percentage points vs 04-2025 06-2025: 0.7%● unchanged vs 05-2025 07-2025: 0.6%▼ -0.1 percentage points vs 06-2025 08-2025: 0.9%▲ +0.3 percentage points vs 07-2025 09-2025: 0.9%● unchanged vs 08-2025 10-2025: 1.2%▲ +0.3 percentage points vs 09-2025highest value 11-2025: 0.4%▼ -0.8 percentage points vs 10-2025 12-2025: 0.4%● unchanged vs 11-2025 01-2026: 0.4%● unchanged vs 12-2025 02-2026: 0.4%● unchanged vs 01-2026 03-2026: 0.4%● unchanged vs 02-2026 04-2026: 0.4%● unchanged vs 03-2026 05-2026: 0.4%● unchanged vs 04-2026 06-2026: 0.4%● unchanged vs 05-2026 07-2026: 0.4%● unchanged vs 06-2026 08-2026: 0.6%▲ +0.2 percentage points vs 07-2026 09-2026: 0.7%▲ +0.1 percentage points vs 08-2026 10-2026: 0.3%▼ -0.4 percentage points vs 09-2026lowest value 11-2026: 0.3%● unchanged vs 10-2026lowest value

Financial strength

Strong

84+20equity 58.6% of total assets

86+35short-term debt 27.3% · cash 37.7%

82+2return on assets 10.7%

Score breakdown

raises risk

Last filed accounts filed 73 days late; 3 of the last 3 accounts late

lowers risk

Liquidity: current ratio 3.58, cash €157,753

Founded in 2008

Equity €245,344 (58.6% of total assets)

Calculation

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 43, micro). It does better than 64% of them on solvency, 84% on liquidity, 64% on profitability and 69% on growth.

The bankruptcy probability was computed on 09-11-2026 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 very low class on 30-06-2025, 0.1% 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).

Comparable companies, two years later

In July 2024, 34,693 companies had the same profile as FIRST CONSTRUCT has now. Each dot stands for 87 companies, two years later.

95.3%

were still trading

3.9%

stopped another way

0.7%

went bankrupt

Micro
10 to 20 years old
solvency 30% or more
a profit of 5% of the balance sheet or more

That fits the bankruptcy probability of FIRST CONSTRUCT itself: 0.3% within 12 months.

Test of the method

The method was tested on the 497,447 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 34,693 companies, not a prediction for FIRST 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.

Credit verdict

Credit of up to €21,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 3.58 (1.95 in 2024), above the usual 1.5. Short-term debt is 27.3% and cash 37.7% of total assets. 41.4% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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.

Signals

Five signals.

lowers riskraises risk

Last filed accounts filed 73 days late; 3 of the last 3 accounts late

NBB · filings

Liquidity: current ratio 3.58, cash €157,753

NBB · annual accounts

Founded in 2008

Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.

KBO

Equity €245,344 (58.6% of total assets)

NBB · annual accounts

2025 accounts filed 73 days late

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-10-2026, 73 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.

NBB · 10 filings

Deviation from the deadline

2025

73 days late

2024

61 days late

2023

68 days late

2022

70 days late

2021

151 days late

2020

100 days late

2019

137 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 94 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 9 October (4 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

10-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Recent changes

13-10-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0808222905

30-05-2025

Amendment of the articles · Legal-form change · Resignations & appointments Board composition: DA CUNHA MARTINS Wesley (sole director) · General meeting of 08-05-2025 · Gazette deed

05-12-2018

Share transfer Transfer of shares from POP NICOLAIE to DA CUNHA MARTIN WESLEY · Transfer of shares from DA CUNHA WENDER to DA CUNHA MARTIN WESLEY · General meeting of 30-07-2017 · Gazette deed

14-01-2009

First establishment Kesselsstraat 37, Schaerbeek

All 29 events

Comparable companies

same main activity, similar in size and age

Company
FIRST CONSTRUCT Sint-Gillis (bij-Brussel)	-	-	58.6%	-
FAVORIT CONSTRUCT Sint-Gillis (bij-Brussel)	€888,529	5.8%	44.6%	-
ZUGRAY CONSTRUCT Woluwe-Saint-Pierre	-	-	57.8%	-
AMIS CONSTRUCT Anderlecht	€302,457	33.1%	60.8%	-
MITROFAN Ganshoren	-	-	63.2%	-
MBI CONSTRUCT Ittre	-	-	35.5%	-
COSALI Charleroi	-	-	29.6%	-

These companies have the same main activity as FIRST CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €382,000 and €472,000, founded between 2006 and 2010.

Official details

Source: KBO

Status: Active since 05-12-2008Normal situation
Registered office: 174 active companies are registered at this address10 started in the 12 months before. Source: KBO register, as of 10 November 2026.
Activity: Other specialised construction activitiesNACE 43990and 4 others
Establishment unit: 2.177.848.9481030 Schaerbeek, since 14-01-2009
Financial year end: 31 December
Peppol: Reachable since 13-10-2025

Company details

Annual accounts 2025

: €93,804▼ 24.7%
: ≈ €470,000estimated
: €44,901▲ 0.4%
: €245,344▲ 22.4%
: €418,883▼ 19.0%
: ≈ 0.4 FTEestimated
Filing: Filed on 12-10-2026

Financials

Insights on FIRST CONSTRUCT

FIRST CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €30,390 in 2010 to €93,804 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 12-10-2026, 73 days late

€93,804

▼ 24.7%

€67,272

▲ 3.5%

€72,173

▲ 3.6%

€49,802

▲ 0.8%

58.6%

▲ 19.8 percentage points

3.58

▲ 1.62

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 ≈ €470,000. Estimated: probably between €360,000 and €970,000.

Money flows

no detail for 2025

Balance sheet

balance sheet total €418,883 on 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

58.6%

Higher than 63% of 35,136 companies in 2025.

3.58

Higher than 77% of 34,510 companies in 2025.

10.7%

Higher than 60% of 34,711 companies in 2025.

FIRST CONSTRUCT Middle half of the sector 80% of the sector Micro accounts in specialised construction (NACE 43)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Balance sheet: assets
`20/58`	418,883	517,154	273,219	402,122	240,584	184,969	161,742	229,821	323,211	185,155	222,131	406,359	265,356	97,259	142,260	50,572
`21/28`	10,222	15,123	19,804	26,049	17,821	32,741	37,727	53,203	64,702	11,783	14,383	25,904	40,709	30,528	8,397	-
`22/27`	6,949	11,850	16,531	25,401	17,173	32,093	37,079	52,555	64,054	11,134	14,383	25,904	40,709	30,528	8,397	-
`23`	3,300	4,803	5,903	7,125	1,625	2,645	3,866	5,100	-	-	-	1,972	4,556	6,154	6,971	-
`24`	3,649	7,047	10,628	18,276	8,870	16,424	20,520	21,738	31,457	11,134	14,383	23,932	36,153	24,375	1,426	-
`25`	-	-	-	-	6,678	-	-	-	-	-	-	-	-	-	-	-
`28`	3,273	3,273	3,273	648	648	648	648	648	648	648	-	-	-	-	-	-
`29/58`	408,661	502,031	253,415	376,073	222,763	152,228	124,015	176,618	258,509	173,373	207,748	380,455	224,647	66,731	133,864	50,572
`40/41`	246,295	387,536	168,199	284,971	167,261	116,249	80,764	137,485	167,210	96,319	152,222	350,188	184,959	13,362	61,488	27,829
`40`	193,850	364,290	145,350	268,125	149,982	97,672	72,448	107,348	149,139	66,641	108,589	331,617	133,598	-	32,498	27,433
`41`	52,445	23,246	22,849	16,846	17,279	18,577	8,316	30,137	18,071	29,677	43,632	18,571	51,361	13,362	28,990	396
`50/53`	-	-	-	-	-	-	-	-	-	-	-	-	-	51,471	-	-
`54/58`	157,753	106,736	72,262	71,664	54,156	32,654	41,595	37,683	90,754	74,379	54,224	25,840	36,389	-	72,376	22,743
`490/1`	4,613	7,759	12,954	19,438	1,346	3,325	1,656	1,450	546	2,675	1,302	4,427	3,299	1,899	-	-
Balance sheet: equity and liabilities
`10/49`	418,883	517,154	273,219	402,122	240,584	184,969	161,742	229,821	323,211	185,155	222,131	406,359	265,356	97,259	142,260	50,572
`10/15`	245,344	200,443	155,699	174,370	138,790	107,037	112,363	145,854	141,589	110,084	96,723	104,968	83,689	59,183	45,764	23,022
`10/11`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
`101`	-	-	-	-	-	-	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
`13`	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,860	841
`130/1`	1,978	1,978	1,978	1,978	1,978	1,978	-	-	-	-	-	-	-	-	-	-
`130`	-	-	-	-	-	-	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,978	1,860	841
`1311`	1,978	1,978	1,978	1,978	1,978	1,978	-	-	-	-	-	-	-	-	-	-
`14`	237,166	192,265	147,521	166,192	130,612	98,859	104,185	137,676	133,411	101,906	88,545	96,789	75,510	51,005	37,704	15,981
`16`	59,350	59,350	38,550	-	-	-	-	-	-	-	-	-	-	-	-	-
`160/5`	59,350	59,350	38,550	-	-	-	-	-	-	-	-	-	-	-	-	-
`163`	59,350	59,350	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`164/5`	-	-	38,550	-	-	-	-	-	-	-	-	-	-	-	-	-
`17/49`	114,189	257,361	78,970	227,752	101,794	77,932	49,379	83,967	181,623	75,071	125,408	301,391	181,667	38,076	96,496	27,550
`17`	-	548	3,745	5,935	3,946	12,358	25,924	37,967	49,712	994	9,315	17,525	12,045	-	-	-
`170/4`	-	548	3,745	5,935	3,946	12,358	25,924	37,967	49,712	994	9,315	17,525	12,045	-	-	-
`42/48`	114,189	256,813	75,225	221,817	97,848	65,574	23,455	46,000	129,757	74,077	116,093	283,640	169,582	38,076	96,496	27,550
`42`	-	3,197	3,045	3,808	9,944	13,213	12,044	12,100	16,552	8,321	8,208	7,794	5,752	-	-	-
`43`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-
`430/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-
`44`	88,822	210,934	53,924	189,958	69,291	40,775	10,578	17,477	113,205	49,856	107,885	253,266	149,419	8,500	60,899	7,881
`440/4`	88,822	210,934	53,924	189,958	69,291	40,775	10,578	17,477	113,205	49,856	107,885	253,266	149,419	8,500	60,899	7,881
`46`	2,240	2,240	-	-	-	-	-	-	-	-	-	-	-	8,971	-	-
`45`	23,127	39,566	17,380	27,898	18,613	11,586	833	16,335	-	-	-	13,752	14,412	-	18,945	1,707
`450/3`	23,127	39,550	16,742	27,898	11,323	11,586	-	8,094	-	-	-	13,752	14,412	-	3,361	1,707
`454/9`	-	16	638	-	7,290	-	833	8,241	-	-	-	-	-	-	15,584	-
`47/48`	-	876	876	153	-	-	-	88	-	15,900	-	8,828	-	20,605	16,651	17,962
`492/3`	-	-	-	-	-	-	-	-	2,154	-	-	227	40	-	-	-
Income statement
`70`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	380,648	103,143
`9900`	93,804	124,603	122,521	81,657	64,149	16,682	4,412	54,750	68,200	34,655	9,478	49,898	64,567	38,787	51,301	30,390
`60/61`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	329,347	72,753
`62`	14,630	14,277	14,203	9,720	-	3,091	4,132	14,758	-	-	-	-	9,498	-	-	-
`630`	4,901	4,681	8,870	13,989	16,959	15,766	16,484	16,599	17,370	12,699	11,521	15,903	14,411	9,577	1,329	-
`635/8`	-	20,800	38,550	-	-	-	-	-	-	-	-	-	-	-	-	-
`640/8`	7,001	19,836	47,525	5,734	3,459	2,608	2,465	2,900	3,597	642	1,287	1,630	2,430	1,730	27,199	13,563
`66A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31	-
`9901`	67,272	65,009	13,373	52,214	43,731	-4,783	-18,669	20,493	47,233	21,314	-3,330	32,365	38,228	27,480	22,774	16,827
`75/76B`	-	-	-	-	-	51	-	8,000	1,670	31	26	34	1,373	74	-	-
`75`	-	-	-	-	-	51	-	8,000	1,670	31	26	34	1,373	74	-	-
`65/66B`	489	1,027	1,187	741	452	594	974	1,953	693	1,861	1,199	1,648	747	68	-	5
`65`	489	1,027	1,187	468	452	594	974	1,953	693	1,861	1,199	1,648	747	68	-	5
`66B`	-	-	-	273	-	-	-	-	-	-	-	-	-	-	-	-
`9903`	66,783	63,982	12,186	51,473	43,279	-5,326	-19,643	26,540	48,210	19,484	-4,504	30,751	38,854	27,486	22,743	16,822
`67/77`	21,882	19,238	30,857	15,893	11,526	-	13,848	7,851	16,705	6,123	3,741	9,472	14,348	14,068	-	-
`9904`	44,901	44,744	-18,671	35,580	31,753	-5,326	-33,491	18,689	31,505	13,361	-8,244	21,279	24,506	13,418	22,743	16,822
`9905`	44,901	44,744	-18,671	35,580	31,753	-5,326	-33,491	18,689	31,505	13,361	-8,244	21,279	24,506	13,418	22,743	16,822
Appropriation of the result
`9906`	237,166	192,265	147,521	166,192	130,612	98,859	104,185	137,676	133,411	101,906	88,545	96,789	75,510	51,005	38,723	16,822
`14P`	192,265	147,521	166,192	130,612	98,859	-	-	-	-	-	-	-	-	-	-	-
`691/2`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,019	841
`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,019	841
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 6 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 12-10-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 73 days after the deadline. Filed on 12 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00558140.

Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	12-10-2026	2026-00558140	PDF
31-12-2024	micro format	30-09-2025	2025-00532476	PDF
31-12-2023	micro format	07-10-2024	2024-00507115	PDF
31-12-2022	micro format	09-10-2023	2023-00485908	PDF
31-12-2021	micro format	29-12-2022	2023-20550969	PDF
31-12-2020	micro format	08-11-2021	2021-77200157	PDF
31-12-2019	micro format	15-12-2020	2020-76200517	PDF
31-12-2018	micro format	31-07-2019	2019-42900398	PDF
31-12-2017	micro format	20-10-2018	2018-70000527	PDF
31-12-2016	full format	28-09-2017	2017-64600526	PDF
31-12-2015	full format	01-11-2016	2016-67500280	PDF
31-12-2014	full format	17-01-2017	2017-01900239	PDF
31-12-2013	full format	27-10-2014	2014-66200095	PDF
31-12-2012	full format	26-11-2013	2013-67100065	PDF
31-12-2011	full format	08-10-2012	2012-60800352	PDF
31-12-2010	full format	16-03-2012	2012-06400223	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
72,173	69,690	22,243	66,203	60,690	10,983	-2,185	37,092	64,603	34,012	8,191	48,269	52,638	37,057	24,102	-
49,802	49,425	-9,801	49,569	48,712	10,440	-17,007	35,288	48,875	26,059	3,277	37,182	38,917	22,995	24,072	-
0	0	2,625	22,490	2,039	10,780	1,008	5,100	69,177	9,450	0	1,098	24,591	31,708	9,726	-
51,017	34,474	598	17,508	21,502	-8,941	3,912	-53,071	16,374	20,155	28,384	-10,549	-	-	49,633	-
294,472	245,218	178,190	154,256	124,915	86,654	100,560	130,618	128,752	99,296	91,655	96,815	55,065	28,655	37,368	23,022
-	-	-	-	-	-	-	-	-	-	-	-	-	-	6.0%	16.3%
58.6%	38.8%	57.0%	43.4%	57.7%	57.9%	69.5%	63.5%	43.8%	59.5%	43.5%	25.8%	31.5%	60.9%	32.2%	45.5%
3.58	1.95	3.37	1.70	2.28	2.32	5.29	3.84	1.99	2.34	1.79	1.34	1.32	1.75	1.39	1.84
0.47	1.28	0.51	1.31	0.73	0.73	0.44	0.58	1.28	0.68	1.30	2.87	2.17	0.64	2.11	1.20
18.3%	22.3%	-12.0%	20.4%	22.9%	-5.0%	-29.8%	12.8%	22.3%	12.1%	-8.5%	20.3%	29.3%	22.7%	49.7%	73.1%
10.7%	8.7%	-6.8%	8.8%	13.2%	-2.9%	-20.7%	8.1%	9.7%	7.2%	-3.7%	5.2%	9.2%	13.8%	16.0%	33.3%
over 100	67.86	18.74	over 100	over 100	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	-	31 days	97 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	67 days	40 days

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.

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	-	-	€22,490	€2,039
Financial fixed assets	-	-	€2,625	-	-
	€4,901	€4,681	€8,870	€13,989	€16,959

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on FIRST CONSTRUCT

The operating result for 2025 is 3% higher than in 2024 and the highest since 2010. It is the second rise in a row, after the fall in 2023.

Debt's share of the balance-sheet total falls from 49.8% to 27.3%. Equity is higher and debt is lower.

Board & ownership

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution: €6,200
Source: 2025 annual accounts

Articles of association

deed of 30-05-2025 (in French)

Duration: Unlimited
Board rule: At least 1 director
Annual meeting: Third Tuesday of May at 19:00

Office holders in the KBO →

Network & group

No group

FIRST CONSTRUCT has no parent and no holdings in its annual accounts.

Connections & network

See the function holders in the KBO register.

Timeline

29 events since 2008

Board

Capital

Filings

Financial

Establishments

2008201020122014201620182020202220242026

Deadline for the 2026 accounts: 31-07-2027

2026

12-10-2026

Annual accounts 2025 filed NBBmicro format · 73 days late

2025

31-12-2025

Highest result from 2010 to 2025 net €44,901 ▲0.4% The operating result of €67,272 and the net result of €44,901 are both a record.

13-10-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0808222905

30-09-2025

Annual accounts 2024 filed PDFmicro format · 61 days late

30-05-2025

Amendment of the articles · Legal-form change · Resignations & appointmentsBoard composition: DA CUNHA MARTINS Wesley (sole director) · General meeting of 08-05-20253 points ▸

General meeting, 08-05-2025
1,000 shares
Board composition, DA CUNHA MARTINS Wesley (sole director)
The deed holds 5 more points.

Open the deed in the Belgian Official Gazette

2024

31-12-2024

Back to profit net €44,744 The net result is €44,744, after one loss-making year.

31-12-2024

Equity above €200,000 equity €200,443 ▲28.7% Equity rises from €155,699 to €200,443.

07-10-2024

Annual accounts 2023 filed PDFmicro format · 68 days late

2023

09-10-2023

Annual accounts 2022 filed PDFmicro format · 70 days late

2022

31-12-2022

Equity above €150,000 equity €174,370 ▲25.6% After 2 profitable years in a row, equity reaches €174,370.

29-12-2022

Annual accounts 2021 filed PDFmicro format · 151 days late

2021

31-12-2021

Back to profit net €31,753 The net result is €31,753, after 2 loss-making years.

08-11-2021

Annual accounts 2020 filed PDFmicro format · 100 days late

2020

15-12-2020

Annual accounts 2019 filed PDFmicro format · 137 days late

2019

31-12-2019

Weakest financial year net -€33,491 The net result drops to -€33,491, the lowest from 2010 to 2025. It recovers the following year.

31-07-2019

Annual accounts 2018 filed PDFmicro format · on the deadline day

2018

05-12-2018

Share transferTransfer of shares from POP NICOLAIE to DA CUNHA MARTIN WESLEY · Transfer of shares from DA CUNHA WENDER to DA CUNHA MARTIN WESLEY · General meeting of 30-07-20173 points ▸

General meeting, 30-07-2017
Share transfer, POP NICOLAIE → DA CUNHA MARTIN WESLEY
Share transfer, DA CUNHA WENDER → DA CUNHA MARTIN WESLEY

Open the deed in the Belgian Official Gazette

20-10-2018

Annual accounts 2017 filed PDFmicro format · 81 days late

2017

28-09-2017

Annual accounts 2016 filed PDFfull format · 59 days late

17-01-2017

Annual accounts 2014 filed PDFfull format · 536 days late

2016

31-12-2016

Back to profit net €13,361 The net result is €13,361, after one loss-making year.

01-11-2016

Annual accounts 2015 filed PDFfull format · 93 days late

2014

31-12-2014

Equity above €100,000 equity €104,968 ▲25.4% With a profit in every financial year since 2010, equity grows to €104,968.

27-10-2014

Annual accounts 2013 filed PDFfull format · 88 days late

2013

26-11-2013

Annual accounts 2012 filed PDFfull format · 118 days late

2012

08-10-2012

Annual accounts 2011 filed PDFfull format · 69 days late

16-03-2012

Annual accounts 2010 filed PDFfull format · 229 days late

2009

14-01-2009

First establishment Kesselsstraat 37, Schaerbeek

2008

05-12-2008

Incorporation PDFpublished on 15-12-2008

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

On 5 December 2008, FIRST CONSTRUCT was incorporated.¹ Total assets went from €229,821 in 2018 to €418,883 in 2025.²

Company details

Identity

Enterprise number: 0808.222.905
VAT number: BE 0808.222.905
Peppol ID: 0208:0808222905
Legal form: Private limited company
Status: Active, normal situation
Founded: 05-12-2008
Financial year: ends on 31 December
Annual meeting: Third Tuesday of May at 19:00
deed of 30-05-2025 (in French)
Peppol: Reachable since 13-10-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name: FIRST CONSTRUCT in French
Entity type: Legal entity
Duration: Unlimited
deed of 30-05-2025 (in French)
Registered office clause: “Région de Bruxelles-Capitale”
deed of 30-05-2025 (in French)

Activities

NACEBEL 2025

VAT activities

43990 Other specialised construction activities main activity

43230 Insulation installation

43341 Painting of buildings

43422 Screed work

81220 Other building cleaning and industrial cleaning

Social security (RSZ) activities

43990 Other specialised construction activities main activity

Codes under NACEBEL 2008

VAT activities

43995 Specialised construction activities main activity

43291 Specialised construction activities

43341 Painting of buildings

43996 Specialised construction activities

81220 Other building cleaning and industrial cleaning

Social security (RSZ) activities

43995 Specialised construction activities main activity

Purpose: “Toutes opérations se rapportant directement ou indirectement à l'exploitation d'une boulangerie et pâtisserie,la fabrication de produits de…”
35 activities
Toutes opérations se rapportant directement ou indirectement à l'exploitation d'une boulangerie et pâtisserie,la fabrication de produits de boulangerie et pâtisserie,réalisation de pain artisanal,dépôt de pain,commerce en gros ou en détail de produits de boulangerie et de pâtisserie,ainsi que l'exploitation d'un salon de consommation
La vente,achat,import,export,entretien,réparation,maintenance,réalisation et pose de matériels de quincailleries,chauffages,climatisation,pompe à chambre,chambre froide,aérations,ventilations,refroidissement,conditionnement d'air
L'exploitation d'un atelier spécial de l'industrie des fabrications métalliques
L'exploitation d'un atelier de réparation de matériel électrique et radio-électrique d'appareils automatiques de distribution et de jeux mécaniques uniquement pour le courant faible
La fabrication d'appareils d'alarme et de sécurité,d'appareils utilisés dans un système d'alarme ou de sécurité,y compris le placement et uniquement sur véhicules
L'installation de chauffage central
L'entreprise de plafonnage-cimenterie
L'entreprise de peinture
L'entreprise de maçonnerie et de béton,coffrage,ferraillage,etc.
L'entreprise de carrelage
L'installation électrique
L'entreprise de vitrage
L'installation de sanitaire et de plomberie
L'installation de chauffage au gaz par appareil individue!
L'entreprise de zinguerie et de couvertures métalliques de constructions
L'entreprise de couvertures non métalliques de constructions
L'entreprise d'étanchéité de constructions
L'entreprise de travaux de démolition
L'entreprise de placement,de montage et démontage,d'entretien et de réparation d'enseignes lumineuses et publicitaires : le commerce de détail de tout matériel se rapportant à ses activités
L'importation et exportation de matériaux de construction,d'articles pour la construction,de mobilier,d'outillage,de quincaillerie,d'accessoires et d'articles pour le parachèvement du bâtiment
L'activité de nettoyage industriel et privé,tel que le nettoyage de bureaux,maisons,usines et,en général,de tout bien immeuble et de toute installation industrielle; elle exercera cette activité dans le respect et les limites de l'agrément prévu dans l'arrêté royal du 12 décembre 2001 relatif aux titres-services et aux arrêtés modificatifs subséquents
Le transport national et international sous toutes ses formes et par tous moyens,de toutes marchandises et produits
L'exploitation d'une agence de publicité,distribution et imprimerie,etc.
1out commerce de marché ambulant
La négociation,la commission et la représentation
L'achat,la vente,l'importation,l'exportation,la vente à tempérament,la location à court et à long terme sous toutes modalités,ainsi que le commerce sous toutes ses formes,de véhicules automobiles,de quelque nature qu'ils soient,neufs et d'occasion et de tout article se rattachant à l'industrie automobile ou mécanique l'exploitation de garages,d'ateliers d'entretien et de réparation de ces véhicules,de même que l'exploitation de magasins de pièces de rechange et d'accessoires
Pour l'automobile,ainsi que l'exploitation d'un ou plusieurs car-wash
L'exploitation de restaurant,snack,friterie,pizzeria,salon de consommation,taverne,brasserie,débit de boissons,ainsi que l'importation,l'achat,la vente et le commerce en général de denrées alimentaires et de boissons alcoolisées ou non alcoolisées; accessoirement et éventuellement
L'exploitation d'hôtels et de tout ce qui est relatif à de pareilles activités. La société peut donc avoir pour objet tout ce qui touche à l'Horeca,l'importation et l'exportation
L'intermédiation commerciale
L'étude,le conseil,l'expertise,l'ingénierie et toutes prestations de services dans le cadre des activités prédécrites
Elle peut accomplir toutes les opérations commerciales,industrielles,mobilières,immobilières ou financières se rapportant directement ou indirectement à son objet social ou pouvant en faciliter la réalisation
Elle peut s'intéresser par voie d'apport,de fusion,de souscription,d'intervention financière ou par tout autre mode dans toutes sociétés,associations ou entreprises ayant,en tout ou en partie,un objet similaire ou connexe au sien ou susceptible d'en favoriser l'extension ou le développement
Elle peut se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou nan
Elle peut être administrateur ou liquidateur d'autres sociétés
deed of 30-05-2025 (in French)

Registered office and establishments

1 establishment

Establishment	Since	Unit number
Théodore Verhaegenstraat 196/202 registered office 1060 Sint-Gillis (bij-Brussel)
Kesselsstraat 37 1030 Schaerbeek	14-01-2009	2.177.848.948

Buildings and parcels at the addresses

Ground area: 929 m²
Buildings: 536 m²
Volume, LiDAR: 9,360 m³
Tallest building: 22.6 m

Buildings to scale, each on its own parcel

registered office establishment The establishment unit on the map

Parcels

Cadastral parcel	Area	Buildings	Height / floors
21562A0329/00R012	801 m²	1 · 441 m²	22.6 m · 6
21906D0146/00F010	128 m²	1 · 95 m²	13.8 m · 4

Invoicing 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. Use the enterprise number 0808.222.905

Overview

Lifetime

Key points

Liquidity

Filings

Position in the sector

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Recent changes

Comparable companies

Official details

Annual accounts 2025

Insights on FIRST CONSTRUCT

Financials

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency58.6%

Current ratio3.58

Return on assets10.7%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on FIRST CONSTRUCT

Board & ownership

Control

Capital

Articles of association

Network & group

No group

Connections & network

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the addresses

Location

Parcels

Invoicing and payment

in euro

in euro

58.6%

3.58

10.7%