GDconstruct
ActiveSummary
The computed 12-month bankruptcy probability of GDconstruct is 3.8% (moderate). The 2025 annual accounts show negative equity (-€5,703) and a net result of -€3,083. Equity is shrinking by ~79.8% per year across the filed fiscal years. Its solvency ranks better than 8% of 28051 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability61▲+56
Solvency14▼-48
Growth32=
Track record94
Bankruptcy probability, 12 months
3.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.81 against 1.53 in 2024; short-term debt: 110.8% and cash: 16% of total assets), and equity is negative.
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Signals
Five 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-10.8%
Return on assets
-5.8%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year -€5,703
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
31 d late
2024
27 d late
2023
180 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 79 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€5,703
2024 · €18,380
Total assets
€52,898▲ 7.4%
2024 · €49,266
Net result
-€3,083▲ 41.2%
2024 · -€5,240
Working capital
-€11,166
2024 · €14,753
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€24,060--€4,374-€1,135▲ 74.1%
Net result€17,620--€5,240-€3,083▲ 41.2%
Equity€23,620-€18,380▼ 22.2%-€5,703
Total assets€105,361-€49,266▼ 53.2%€52,898▲ 7.4%
Debt€81,741-€30,886▼ 62.2%€58,601▲ 89.7%
Working capital€11,329-€14,753▲ 30.2%-€11,166
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,135 in 2025 against €4,374 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €52,898
Fixed assets
€5,463 ▼ 16.7%
Current assets
€47,435 ▲ 11.1%
Key figures and ratios
EBITDA
€2,458▲
2024 · -€1,421
Cash flow
€510▲
2024 · -€2,287
Solvency
-10.8%▼
2024 · 37.3%
Current ratio
0.81▼
2024 · 1.53
Debt to equity
-10.28▼
2024 · 1.68
ROA
-5.8%▲
2024 · -10.6%
Interest coverage
8.65▲
2024 · -1.59
Debt ≤ 1 year
€58,601▲
2024 · €27,957
Income taxes
€1,664
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,799 | €2,953 | €3,593 | ▲ 21.7% |
| Other operating charges640/8 | €994 | €475 | €10,812 | ▲ 2,176% |
| Gross operating margin9900 | €27,853 | -€946 | €13,270 | ▲ 1,503% |
| Operating profit (loss)9901 | €24,060 | -€4,374 | -€1,135 | ▲ 74.1% |
| Financial income75/76B | €50 | €26 | - | - |
| Recurring financial income75 | €50 | €26 | - | - |
| Financial charges65/66B | €784 | €892 | €284 | ▼ 68.2% |
| Recurring financial charges65 | €784 | €892 | €284 | ▼ 68.2% |
| Profit (loss) for the period before taxes9903 | €23,326 | -€5,240 | -€1,419 | ▲ 72.9% |
| Income taxes67/77 | €5,706 | - | €1,664 | - |
| Profit (loss) for the period9904 | €17,620 | -€5,240 | -€3,083 | ▲ 41.2% |
| Profit (loss) for the period to be appropriated9905 | €17,620 | -€5,240 | -€3,083 | ▲ 41.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €105,361 | €49,266 | €52,898 | ▲ 7.4% |
| Fixed assets21/28 | €23,669 | €6,556 | €5,463 | ▼ 16.7% |
| Tangible fixed assets22/27 | €23,669 | €6,556 | €5,463 | ▼ 16.7% |
| Plant, machinery and equipment23 | €1,640 | €1,310 | €980 | ▼ 25.2% |
| Furniture and vehicles24 | €22,029 | €5,246 | €4,483 | ▼ 14.5% |
| Current assets29/58 | €81,692 | €42,710 | €47,435 | ▲ 11.1% |
| Amounts receivable within one year40/41 | €54,344 | €21,673 | €38,914 | ▲ 79.6% |
| Trade receivables40 | €25,414 | €21,673 | €38,914 | ▲ 79.6% |
| Other amounts receivable41 | €28,931 | - | - | - |
| Cash at bank and in hand54/58 | €27,348 | €21,037 | €8,442 | ▼ 59.9% |
| Deferred charges and accrued income490/1 | - | - | €79 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €105,361 | €49,266 | €52,898 | ▲ 7.4% |
| Equity10/15 | €23,620 | €18,380 | -€5,703 | ▼ 131% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | = |
| Profit (loss) carried forward14 | €17,620 | €12,380 | -€11,703 | ▼ 195% |
| Amounts payable17/49 | €81,741 | €30,886 | €58,601 | ▲ 89.7% |
| Amounts payable after more than one year17 | €11,377 | €2,408 | - | - |
| Financial debts170/4 | €11,377 | €2,408 | - | - |
| Amounts payable within one year42/48 | €70,364 | €27,957 | €58,601 | ▲ 110% |
| Current portion of amounts payable after more than one year42 | €2,741 | €2,124 | €2,408 | ▲ 13.4% |
| Trade debts44 | €39,963 | €3,174 | €7,356 | ▲ 132% |
| Suppliers440/4 | €39,963 | €3,174 | €7,356 | ▲ 132% |
| Taxes, remuneration and social security45 | €10,347 | €4,212 | €1,907 | ▼ 54.7% |
| Taxes450/3 | €10,347 | €4,212 | €1,907 | ▼ 54.7% |
| Other amounts payable47/48 | €17,313 | €18,447 | €46,930 | ▲ 154% |
| Accrued charges and deferred income492/3 | - | €521 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,620 | -€5,240 | -€3,083 | ▲ 41.2% |
| + Depreciation and write-downs630 | €2,799 | €2,953 | €3,593 | ▲ 21.7% |
| Operating cash flow (approximation) | €20,420 | -€2,287 | €510 | ▲ 122% |
| Investment in fixed assets (approximation) | - | €14,160 | -€2,500 | ▼ 118% |
| Change in cash | - | -€6,311 | -€12,595 | ▼ 99.6% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
27-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 180 days late
2024
31-12
Financial
Weakest financial yearnet -€5,240
Net result drops to -€5,240, the lowest in the series; recovery starts the following year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Bonheiden · 1 establishment unit since 2023
Ground area
400 m²
Building footprint
130 m²
Volume, LiDAR
421 m³
Parcel 12005C0425/00L002, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
GDconstruct
since 20232.340.594.360
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12005C0425/00L002 | Flanders | 400 m² | 1 · 130 m² | 6.9 m · 1 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.
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Of 22,832 companies in sector 43211 we hold annual accounts for 10,328. 7,027 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
Founded03-01-2023
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
41001General construction of residential buildings
46643Wholesale of electrical equipment, including installation materials
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.