Losses
-€6,521 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
First Construct
Overview
Lifetime
13 annual accounts with figures on one time axispeak €93,313 (2021)
€0▼ 100%
lowest -€16,475 (2015)
-€919▼ €604
peak €94,298 (2022)
€87,776▼ 1.0%
€310▼ 15.2%
Board3 names since 2012
2 directors and 1 other
Documentsfilings and deeds
30-07-20261 day before the deadline
2025micro format
Gross margin from €300 to €0Loss of €919Debts from €366 to €310Cash from €15 to €0
Key points
from the 2025 annual accountsFilings
13 annual accounts since 2013
Four of the last ten came late. The 2019 accounts came latest: 91 days after the end of the period.
Position in the sector
99.6%
Higher solvency than 95% of companies in specialised construction. Sector median 46.9% · 37,177 companies.
Turnover not published (micro format)
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 6,908 companies had the same profile as First Construct has now. Each dot stands for 18 companies, two years later.
90.9%
were still trading
7.8%
stopped another way
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 6,908 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 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
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0848482952
Resignation: (manager)
Director discharge: · General meeting of 31-12-2015 · Gazette deed
Incorporation
published on 18-09-2012 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| First Construct Waasmunster | €88,086 | €0 | 99.6% | - |
| U-STYL Grimbergen | €91,275 | -€21,766 | 37.5% | - |
| RIJENSE ONDERHOUDSERVICE BELGIË Kalmthout | €90,223 | -€6,210 | 8.5% | - |
| BOUWONDERNEMING TITS VINCENT Landen | €117,765 | -€10,392 | -2.1% | - |
| HASS BOUW Mol | €123,444 | -€31,392 | 64.9% | - |
| CLEOPATRE BUILDING Molenbeek-Saint-Jean | €57,875 | €896 | 36.2% | - |
| REINA A Grâce-Hollogne | €121,502 | -€4,852 | 58.9% | - |
These companies have the same main activity as First Construct: bricklaying and masonry work (NACE 43910). They are comparable in size and age: total assets between €57,900 and €123,000, founded between 2008 and 2014.
Official details
Source: KBO- Status
- Active since 06-09-2012Normal situation
- Activity
- Bricklaying and masonry workNACE 43910and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 04-12-2025
Annual accounts 2025
- €0▼ 100%
- €919▲ 192%
- €87,776▼ 1.0%
- €88,086▼ 1.1%
- Filing
- Filed on 30-07-2026, 1 day before the end of the filing period
Insights on First Construct
First Construct files the micro format. That format states no turnover. The gross margin rose from -€4,833 in 2013 to €0 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 30-07-2026, 1 day before the deadline€0
▼ 100%
-€865
▼ €725
-€919
▼ €604
€87,776
▼ 1.0%
99.6%
▲ 0.1 percentage points
-
Turnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €88,086 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
99.6%
Higher than 95% of 37,177 companies in 2025.
-
Higher than 89% of 32,722 companies in 2023.
-1.0%
Higher than 22% of 36,707 companies in 2025.
First Construct
Middle half of the sector
80% of the sector
Micro accounts in specialised construction (NACE 43)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
88,086 | 89,061 | 107,783 | 142,984 | 286,634 | 791,077 | 1.0m | 1.2m | 675,751 | 241,373 | 300,331 | 222,714 | 362,283 | |
21/28 |
- | - | - | - | - | - | - | 70 | 128 | - | - | 1,281 | 1,777 | |
22/27 |
- | - | - | - | - | - | - | - | - | - | - | 1,281 | 1,777 | |
24 |
- | - | - | - | - | - | - | - | - | - | - | 1,281 | 1,777 | |
28 |
- | - | - | - | - | - | - | 70 | 128 | - | - | - | - | |
29/58 |
88,086 | 89,061 | 107,783 | 142,984 | 286,634 | 791,077 | 1.0m | 1.2m | 675,622 | 241,373 | 300,331 | 221,433 | 360,506 | |
3 |
- | - | - | - | 262,648 | 790,388 | 1.0m | 1.2m | 656,320 | 202,177 | 276,441 | 128,723 | 353,024 | |
30/36 |
- | - | - | - | 262,648 | 790,388 | 1.0m | 1.2m | 656,320 | 202,177 | 276,441 | 128,723 | 353,024 | |
40/41 |
88,086 | 89,046 | 100,107 | 70 | 3,618 | 640 | 1,933 | 4,812 | 11,387 | - | 21,979 | - | 1,508 | |
40 |
- | - | - | - | - | - | - | - | - | - | 21,222 | - | - | |
41 |
88,086 | 89,046 | 100,107 | 70 | 3,618 | 640 | 1,933 | 4,812 | 11,387 | - | 757 | - | 1,508 | |
54/58 |
0 | 15 | 7,675 | 142,914 | 20,368 | 50 | 9,563 | 311 | 7,916 | 39,196 | 1,911 | 92,711 | 5,768 | |
490/1 |
- | - | - | - | - | - | - | 5,032 | - | - | - | - | 206 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
88,086 | 89,061 | 107,783 | 142,984 | 286,634 | 791,077 | 1.0m | 1.2m | 675,751 | 241,373 | 300,331 | 222,714 | 362,283 | |
10/15 |
87,776 | 88,696 | 89,011 | 94,298 | 58,090 | -1,326 | -9,432 | -10,356 | 4,310 | 13,319 | 24,261 | 40,736 | -6,893 | |
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 | |
100 |
- | - | - | - | - | - | 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 | |
13 |
82,860 | 82,860 | 82,860 | 82,860 | 46,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
133 |
81,000 | 81,000 | 81,000 | 81,000 | 45,000 | - | - | - | - | - | - | - | - | |
14 |
-1,284 | -364 | -49 | 5,238 | 5,030 | -9,386 | -17,492 | -18,416 | -3,750 | 5,259 | 16,201 | 32,676 | -13,093 | |
17/49 |
310 | 366 | 18,772 | 48,687 | 228,545 | 792,403 | 1.0m | 1.2m | 671,441 | 228,054 | 276,070 | 181,978 | 369,177 | |
42/48 |
310 | 366 | 18,772 | 48,687 | 228,545 | 792,403 | 1.0m | 1.2m | 670,655 | 228,054 | 276,070 | 181,978 | 369,177 | |
42 |
7 | - | - | - | - | - | - | - | - | - | - | - | - | |
43 |
- | - | - | - | - | 198,100 | 448,300 | 648,500 | 298,500 | 136,500 | 136,500 | - | 275,000 | |
430/8 |
- | - | - | - | - | 198,100 | 448,300 | 648,500 | 298,500 | 136,500 | 136,500 | - | 275,000 | |
44 |
303 | 303 | 666 | - | - | 3,147 | - | 1,034 | 13,585 | 3,055 | - | 466 | 2,147 | |
440/4 |
303 | 303 | 666 | - | - | 3,147 | - | 1,034 | 13,585 | 3,055 | - | 466 | 2,147 | |
45 |
0 | 63 | 18,107 | 35,056 | 34,889 | - | - | - | - | 22,929 | - | 63,607 | - | |
450/3 |
0 | 63 | 18,107 | 35,056 | 34,889 | - | - | - | - | 22,929 | - | 63,607 | - | |
47/48 |
- | - | 0 | 13,630 | 193,656 | 591,156 | 574,356 | 548,570 | 358,570 | 65,570 | 139,570 | 117,905 | 92,030 | |
492/3 |
- | - | - | - | - | - | - | - | 785 | - | - | - | - | |
| Income statement | ||||||||||||||
9900 |
0 | 300 | -5,102 | 54,579 | 93,313 | 25,015 | 21,176 | -6,005 | -3,597 | -6,413 | -2,311 | 57,926 | -4,833 | |
630 |
- | - | - | - | - | - | - | - | - | - | - | 496 | 702 | |
640/8 |
865 | 441 | 132 | 1,290 | 3,030 | 1,287 | 780 | 778 | 775 | 1,074 | 772 | 918 | 851 | |
66A |
- | - | - | - | - | - | - | - | - | - | 446 | - | - | |
9901 |
-865 | -141 | -5,233 | 53,290 | 90,284 | 23,728 | 20,396 | -6,783 | -4,372 | -7,486 | -3,083 | 56,512 | -6,387 | |
75/76B |
- | - | 0 | 1,753 | - | - | 4 | 3,056 | 1,608 | - | 75 | 39 | 382 | |
75 |
- | - | 0 | 1,753 | - | - | 4 | 3,056 | 1,608 | - | 75 | 39 | 382 | |
65/66B |
54 | 54 | 54 | 743 | 13,919 | 15,621 | 19,476 | 10,940 | 6,244 | 3,456 | 1,066 | 8,921 | 7,088 | |
65 |
54 | 54 | 54 | 743 | 13,919 | 15,621 | 19,476 | 10,940 | 6,244 | 3,456 | 1,066 | 8,921 | 7,088 | |
9903 |
-919 | -195 | -5,287 | 54,299 | 76,365 | 8,107 | 924 | -14,666 | -9,009 | -10,943 | -4,520 | 47,630 | -13,092 | |
67/77 |
0 | 121 | 0 | 18,091 | 16,950 | - | - | - | - | - | 11,955 | - | 1 | |
9904 |
-919 | -315 | -5,287 | 36,208 | 59,415 | 8,107 | 924 | -14,666 | -9,009 | -10,943 | -16,475 | 47,630 | -13,093 | |
9905 |
-919 | -315 | -5,287 | 36,208 | 59,415 | 8,107 | 924 | -14,666 | -9,009 | -10,943 | -16,475 | 47,630 | -13,093 | |
| Appropriation of the result | ||||||||||||||
9906 |
-1,284 | -364 | -49 | 41,238 | 50,030 | -9,386 | -17,492 | -18,416 | -3,750 | 5,259 | 16,201 | 34,536 | -13,093 | |
14P |
-364 | -49 | 5,238 | 5,030 | -9,386 | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 0 | 36,000 | 45,000 | - | - | - | - | - | - | 1,860 | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | 1,860 | - | |
6921 |
- | - | 0 | 36,000 | 45,000 | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 5 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 30-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00358489 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00338336 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00311031 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00297001 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20205395 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-57300493 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66000088 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-60100305 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-60600353 | |
| 31-12-2016 | micro format | 31-07-2017 | 2017-39400555 | |
| 31-12-2015 | abbreviated format | 30-08-2016 | 2016-54500594 | |
| 31-12-2014 | abbreviated format | 31-08-2015 | 2015-55800124 | |
| 31-12-2013 | abbreviated format | 31-07-2014 | 2014-38600324 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | - | - | - | - | - | - | 57,008 | -5,684 | ||
| - | - | - | - | - | - | - | - | - | - | - | 48,126 | -12,391 | ||
| 0 | - | - | - | - | - | - | - | 128 | - | - | 0 | 2,479 | ||
| -15 | -7,661 | -135,239 | 122,546 | 20,319 | -9,513 | 9,252 | -7,605 | -31,280 | 37,285 | -90,800 | 86,942 | - | ||
| 87,776 | 88,696 | 89,011 | 94,298 | 58,090 | -1,326 | -9,432 | -10,426 | 4,967 | 13,319 | 24,261 | 39,455 | -8,670 | ||
| 99.6% | 99.6% | 82.6% | 65.9% | 20.3% | -0.2% | -0.9% | -0.9% | 0.6% | 5.5% | 8.1% | 18.3% | -1.9% | ||
| - | - | 5.74 | 2.94 | 1.25 | 1.00 | 0.99 | 0.99 | 1.01 | 1.06 | 1.09 | 1.22 | 0.98 | ||
| - | - | 5.74 | 2.94 | 0.10 | 0.00 | 0.01 | 0.01 | 0.03 | 0.17 | 0.09 | 0.51 | 0.02 | ||
| 0.00 | 0.00 | 0.21 | 0.52 | 3.93 | - | - | - | - | 17.12 | 11.38 | 4.47 | - | ||
| -1.0% | -0.4% | -5.9% | 38.4% | 102.3% | - | - | - | -209.0% | -82.2% | -67.9% | 116.9% | - | ||
| -1.0% | -0.4% | -4.9% | 25.3% | 20.7% | 1.0% | 0.1% | -1.2% | -1.3% | -4.5% | -5.5% | 21.4% | -3.6% |
A ratio outside any meaningful range has been withheld (balance sheet total €88,086, equity €87,776).
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 |
|---|---|---|---|---|---|
| Financial fixed assets | €0 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on First Construct
The operating result for 2025 is a loss of €865, larger than the loss of €141 in 2024.
Debt's share of the balance-sheet total falls from 0.4% to 0.4%. Equity and debt are lower.
Board & ownership
Board
2 directors, last change in 2016Mandates through the years
3 names, the dashed line is todayDirector
Director
Manager
BoardEarliermandate already running before its first mention
Mandates as a list
-
- Director, from 31-08-2012 to date
-
- Director, from 31-08-2012 to date
-
- Manager, until 20-12-2016
Control
Capital
- Contribution
- €6,200
- Source
- 2025 annual accounts
Network & group
No group
First Construct has no parent and no holdings in its annual accounts. First Construct shares no director with another company.
At the same address
Heidekapelstraat 15, 9250 Waasmunster · 2 other companies| DEMA-INVESTMENT
registered office since 31-03-2006 · founded in 2006 |
total assets €1.4m (2025) 0880.426.735 |
| ORANGE 48
registered office since 10-06-2013 · founded in 2013 |
total assets €280,421 (2026) 0535.567.682 |
Timeline
Timeline
22 events since 2012Board
Filings
Financial
20122014201620182020202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 1 day before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0848482952
Annual accounts 2024 filed PDFmicro format · on the deadline day
2024
Liquidity more than 42 times current ratio 243.67 The current ratio rises from 5.74 to 243.67. Short-term debt falls from €18,772 to €366.
Annual accounts 2023 filed PDFmicro format · on the deadline day
2023
Annual accounts 2022 filed PDFmicro format · on the deadline day
2022
Liquidity more than doubled current ratio 2.94 The current ratio rises from 1.25 to 2.94. Short-term debt falls from €228,545 to €48,687.
Annual accounts 2021 filed PDFmicro format · 11 days before the deadline
2021
Highest result from 2013 to 2025 net €59,415 ▲633% The operating result of €90,284 and the net result of €59,415 are both a record.
Annual accounts 2020 filed PDFmicro format · 30 days late
2020
Annual accounts 2019 filed PDFmicro format · 91 days late
2019
Back to profit net €924 The net result is €924, after 4 loss-making years.
Annual accounts 2018 filed PDFmicro format · 30 days late
2018
Annual accounts 2017 filed PDFmicro format · 31 days late
2017
Annual accounts 2016 filed PDFmicro format · on the deadline day
2016
Resignation: (manager)Director discharge: · General meeting of 31-12-20153 points ▸
- General meeting, 31-12-2015
- Director resignation, (manager)
- Director discharge,
Annual accounts 2015 filed PDFabbreviated format · 30 days late
2015
Weakest financial year net -€16,475 The net result drops to -€16,475, the lowest from 2013 to 2025. It recovers the following year.
Annual accounts 2014 filed PDFabbreviated format · 31 days late
2014
Back to profit net €47,630 The net result is €47,630, after one loss-making year.
Annual accounts 2013 filed PDFabbreviated format · on the deadline day
2012
Incorporation PDFpublished on 18-09-2012
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0848.482.952
- VAT number
- BE 0848.482.952
- Peppol ID
- 0208:0848482952
- Other Peppol ID
- 9925:BE0848482952
- Legal form
- Private limited company (pre-2019)
- Status
- Active, normal situation
- Founded
- 06-09-2012
- Financial year
- ends on 31 December
- Peppol
- Reachable since 04-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- First Construct in Dutch
- Entity type
- Legal entity
Activities
NACEBEL 202543910
Bricklaying and masonry work main activity
Codes under NACEBEL 2008
43994
Specialised construction activities main activity
41102
Construction of residential and non-residential buildings
Registered office and establishments
| Heidekapelstraat 15 registered office 9250 Waasmunster |
Buildings and parcels at the address
- Ground area
- 3,314 m²
- Buildings
- 309 m²
- Volume, LiDAR
- 1,368 m³
- Tallest building
- 10.6 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 42342C1595/00T002 | 3,314 m² | 1 · 309 m² | 10.6 m · 1 |
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 0848.482.952