Equity
€26,901 from €64,044 in 2023
Equity fell by 58% in 1 year.
GM CONSTRUCT
Overview
Lifetime
7 annual accounts with figures on one time axispeak €36,751 (2021)
-€26,572▼ €55,652
lowest -€37,143 (2024)
-€37,143▼ €54,122
peak €64,044 (2023)
€26,901▼ 58.0%
€10,868▼ 69.9%
Board2 names since 2018
1 directorKURKAN MEHMET
Documentsfilings and deeds
29-08-202529 days late
2024micro format
Gross margin from €29,081 to -€26,572Loss of €37,143Equity from €64,044 to €26,901Debts from €36,076 to €10,868
Key points
from the 2024 annual accountsResult
-€37,143 -€37,143
From profit to loss in 2024, after a profit of €16,978 in 2023.
Filings
7 annual accounts 101 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
Turnover not published (micro format)
Checked score
48
Fair
Financially stronger than 35% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
4.2% Elevated
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 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.8%
01-2025: 1.8%● unchanged vs 12-2024
02-2025: 1.8%● unchanged vs 01-2025
03-2025: 1.8%● unchanged vs 02-2025lowest value
04-2025: 1.8%● unchanged vs 03-2025
05-2025: 1.8%● unchanged vs 04-2025
08-2025: 2.3%
09-2025: 2.4%▲ +0.1 percentage points vs 08-2025
10-2025: 1.9%▼ -0.5 percentage points vs 09-2025
11-2025: 1.9%● unchanged vs 10-2025
12-2025: 1.9%● unchanged vs 11-2025
01-2026: 1.8%▼ -0.1 percentage points vs 12-2025
02-2026: 1.8%● unchanged vs 01-2026
03-2026: 1.8%● unchanged vs 02-2026
04-2026: 1.9%▲ +0.1 percentage points vs 03-2026
05-2026: 1.8%▼ -0.1 percentage points vs 04-2026
06-2026: 1.8%● unchanged vs 05-2026
07-2026: 1.8%● unchanged vs 06-2026
08-2026: 2.3%▲ +0.5 percentage points vs 07-2026
09-2026: 2.5%▲ +0.2 percentage points vs 08-2026
10-2026: 4.2%▲ +1.7 percentage points vs 09-2026highest value
11-2026: 4.2%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Figures for financial year 2024 (filed on 02-09-2025)
1 financial year not filed after the legal deadline; last filed accounts filed 29 days late; 1 of the last 3 accounts late
Loss of €37,143 (financial year 2024)
Founded in 2018
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 77% of them on solvency, 49% on liquidity, 4% on profitability and 8% on growth.
The bankruptcy probability was computed on 08-11-2026 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 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% 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, 3,591 companies had the same profile as GM CONSTRUCT has now. Each dot stands for 9 companies, two years later.
87.3%
were still trading
9.4%
stopped another way
3.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of GM CONSTRUCT itself is higher: 4.2% within 12 months. It rests on far more data about GM CONSTRUCT than the profile alone.
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.
| 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 3,591 companies, not a prediction for GM 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 €1,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 2.45 (2.5 in 2023), above the usual 1.5. Short-term debt is 28.8% and cash 12.3% of total assets. 28.8% 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
Seven signals.
raises riskneutral
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 101 days later.
NBB · 7 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline09-11-2026 today
raises risk · 2024 accounts filed 29 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 7 filingsDeviation from the deadline
2025
not filed
2024
29 days late
2023
92 days early
2022
63 days late
2021
153 days late
2020
90 days late
2019
26 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 45 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 (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0698589149
Bankruptcy reversal
Enterprise Court of Antwerp, Hasselt division · judgment of 30-06-2025 · Bankruptcy
Bankruptcy published
Enterprise Court of Antwerp, Hasselt division · judgment of 15-05-2025 · Bankruptcy
Registered office moved from Beverlo to Heusden-Zolder
New registered office: Ringlaan 15 bus 1, 3550 Heusden-Zolder · Previous registered office: PATRONAATSTRAAT 11, 3581 BEVERLO · Resignation: Kürkan Burak (director) · General meeting of 01-05-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GM CONSTRUCT Heusden-Zolder | €37,769 | -€26,572 | 71.2% | - |
| Oxy Design Brussels | €36,115 | -€22,350 | -9.1% | - |
| MY DECOR PROJECT Ostend | €38,424 | -€2,553 | 43.8% | - |
| FRDDS Ternat | €37,695 | -€9,916 | 42.1% | - |
| Ceno Construct Zemst | €38,232 | -€4,412 | 32.0% | - |
| SAFEY CONCEPT Dilbeek | €33,494 | -€2,729 | 57.0% | - |
| MDV BUILD Anderlecht | €42,089 | -€12,253 | 75.9% | - |
These companies have the same main activity as GM CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €33,500 and €42,100, founded between 2017 and 2019.
Official details
Source: KBO- Status
- Active since 19-06-2018Normal situation
- Activity
- Other specialised construction activitiesNACE 43990
- Establishment unit
- 2.279.077.5543550 Heusden-Zolder, since 19-06-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 06-01-2026
Annual accounts 2024
- -€26,572
- €37,143
- €26,901▼ 58.0%
- €37,769▼ 62.3%
- ≈ 0.2 FTEestimated
- Filing
- Filed on 29-08-2025
Insights on GM CONSTRUCT
GM CONSTRUCT files the micro format. That format states no turnover. The gross margin fell from €339 in 2018 to -€26,572 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2024
micro format, filed on 29-08-2025, 29 days late2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 9 November 2026.
-€26,572
▼ €55,652
-€36,456
▼ €61,816
-€32,809
▼ €61,139
-€33,496
▼ €53,445
71.2%
▲ 7.3 percentage points
2.45
▼ 0.05
Money flows
no detail for 2024Balance sheet
balance sheet total €37,769 on 31-12-2024What the company ownsHow it is paid for
in euro
in euro
Position in the sector
71.2%
Higher than 77% of 35,956 companies in 2024.
2.45
Higher than 64% of 35,354 companies in 2024.
-98.3%
Lower than 95% of 35,538 companies in 2024.
GM 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: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
37,769 | 100,120 | 61,106 | 44,595 | 46,052 | 21,801 | 734 | |
21/28 |
11,176 | 9,974 | 1,144 | 2,392 | 572 | - | - | |
22/27 |
11,176 | 9,974 | 1,144 | 2,392 | 572 | - | - | |
24 |
11,176 | 9,974 | 1,144 | 2,392 | 572 | - | - | |
29/58 |
26,592 | 90,146 | 59,962 | 42,203 | 45,480 | 21,801 | 734 | |
40/41 |
20,221 | 84,463 | 53,198 | 36,554 | 29,825 | 20,994 | 710 | |
40 |
4,191 | 6,503 | 17,161 | 3,528 | 27,265 | 19,500 | - | |
41 |
16,030 | 77,959 | 36,037 | 33,026 | 2,560 | 1,494 | 710 | |
54/58 |
4,655 | 4,316 | 4,707 | 5,312 | 13,501 | 807 | 24 | |
490/1 |
1,717 | 1,367 | 2,057 | 337 | 2,154 | - | - | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
37,769 | 100,120 | 61,106 | 44,595 | 46,052 | 21,801 | 734 | |
10/15 |
26,901 | 64,044 | 47,066 | 31,764 | 32,968 | 13,858 | 154 | |
10/11 |
1 | 1 | 1 | 1 | 1 | 1 | 1 | |
100 |
- | - | - | - | 1 | 1 | 1 | |
13 |
64,043 | 64,043 | 47,065 | 32,967 | 32,967 | 13,857 | 153 | |
130/1 |
13,857 | 13,857 | 13,857 | 13,857 | 13,857 | - | - | |
130 |
- | - | - | - | 13,857 | 13,857 | 153 | |
1311 |
13,857 | 13,857 | 13,857 | 13,857 | - | - | - | |
133 |
50,186 | 50,186 | 33,207 | 19,110 | 19,110 | - | - | |
14 |
-37,143 | - | - | -1,204 | - | - | - | |
17/49 |
10,868 | 36,076 | 14,040 | 12,831 | 13,083 | 7,943 | 580 | |
42/48 |
10,868 | 36,076 | 14,040 | 12,831 | 13,083 | 7,943 | 580 | |
44 |
3,372 | 22,804 | 8,103 | 7,584 | 3,577 | 2,373 | 266 | |
440/4 |
3,372 | 22,804 | 8,103 | 7,584 | 3,577 | 2,373 | 266 | |
45 |
7,496 | 13,272 | 5,938 | 5,247 | 9,079 | 3,664 | 186 | |
450/3 |
7,496 | 13,272 | 5,938 | 4,965 | 7,967 | 3,664 | 186 | |
454/9 |
- | - | - | 282 | 1,112 | - | - | |
47/48 |
- | - | - | - | 428 | 1,906 | 128 | |
| Income statement | ||||||||
70 |
- | - | - | - | 162,390 | 63,884 | 16,050 | |
76A |
10,583 | 111 | - | 3,533 | 3,000 | - | - | |
9900 |
-26,572 | 29,081 | 24,849 | 36,751 | 26,826 | 18,788 | 339 | |
60/61 |
- | - | - | - | 138,564 | 45,096 | 15,711 | |
62 |
6,000 | - | 3,124 | 35,806 | 1,112 | - | - | |
630 |
3,648 | 2,970 | 1,248 | 1,179 | 172 | - | - | |
640/8 |
237 | 751 | 53 | 283 | 741 | 62 | - | |
9901 |
-36,456 | 25,360 | 20,424 | -518 | 24,801 | 18,726 | 339 | |
75/76B |
2,756 | 2,880 | 2,246 | 1,177 | - | - | - | |
75 |
2,756 | 2,880 | 2,246 | 1,177 | - | - | - | |
65/66B |
3,281 | 3,927 | 1,430 | 1,863 | 1,388 | 1,348 | - | |
65 |
3,281 | 3,927 | 1,430 | 1,863 | 1,388 | 1,348 | - | |
9903 |
-36,981 | 24,312 | 21,240 | -1,204 | 23,413 | 17,378 | 339 | |
67/77 |
162 | 7,334 | 5,938 | - | 4,303 | 3,673 | 186 | |
9904 |
-37,143 | 16,978 | 15,302 | -1,204 | 19,110 | 13,705 | 153 | |
9905 |
-37,143 | 16,978 | 15,302 | -1,204 | 19,110 | 13,705 | 153 | |
| Appropriation of the result | ||||||||
9906 |
-37,143 | 16,978 | 14,097 | -1,204 | 19,110 | 13,705 | 153 | |
14P |
- | - | -1,204 | - | - | - | - | |
691/2 |
- | 16,978 | 14,097 | - | 19,110 | 13,705 | 153 | |
6920 |
- | - | - | - | - | 13,705 | 153 | |
6921 |
- | 16,978 | 14,097 | - | 19,110 | - | - | |
| 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 filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 29-08-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 29-08-2025 | 2025-00465098 | |
| 31-12-2023 | micro format | 30-04-2024 | 2024-00077160 | |
| 31-12-2022 | micro format | 02-10-2023 | 2023-00479050 | |
| 31-12-2021 | micro format | 31-12-2022 | 2023-20553712 | |
| 31-12-2020 | micro format | 29-10-2021 | 2021-76100564 | |
| 31-12-2019 | micro format | 26-08-2020 | 2020-45300245 | |
| 31-12-2018 | micro format | 31-10-2019 | 2019-72900436 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| -32,809 | 28,330 | 21,672 | 661 | 24,973 | - | - | ||
| -33,496 | 19,949 | 16,550 | -25 | 19,282 | - | - | ||
| 4,850 | 11,800 | 0 | 3,000 | 744 | - | - | ||
| 339 | -391 | -605 | -8,189 | 12,694 | 783 | - | ||
| 15,724 | 54,070 | 45,921 | 29,371 | 32,396 | 13,858 | 154 | ||
| - | - | - | - | 15.3% | 29.3% | 2.1% | ||
| 71.2% | 64.0% | 77.0% | 71.2% | 71.6% | 63.6% | - | ||
| 2.45 | 2.50 | 4.27 | 3.29 | 3.48 | 2.74 | - | ||
| 0.40 | 0.56 | 0.30 | 0.40 | 0.40 | 0.57 | - | ||
| -138.1% | 26.5% | 32.5% | -3.8% | 58.0% | 98.9% | - | ||
| -98.3% | 17.0% | 25.0% | -2.7% | 41.5% | 62.9% | - | ||
| -10.00 | 7.21 | 15.15 | 0.35 | - | - | - | ||
| - | - | - | - | 61 days | 111 days | 16 days | ||
| - | - | - | - | 9 days | 19 days | 6 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 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €4,850 | €11,800 | - | €3,000 |
| €3,648 | €2,970 | €1,248 | €1,179 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Insights on GM CONSTRUCT
The operating result for 2024 is a loss of €36,456, after a profit of €25,360 in 2023. It is the lowest result since 2018.
Debt's share of the balance-sheet total falls from 36.0% to 28.8%. Equity and debt are lower.
Board & ownership
Curators
2 mandatesCurator, Jaarbeurslaan 19/31, 3600 Genk
from 15-05-2025 to 30-06-2025
Also on 166 other cases
Curator, Jaarbeurslaan 19/31, 3600 Genk
from 15-05-2025 to 30-06-2025
Also on 166 other cases
Board
1 director, last change in 2020Mandates through the years
2 names, the dashed line is todayKURKAN MEHMET
Director
Director
Kürkan Burak
Director
Director
BoardEarliermandate already running before its first mention
Mandates as a list
- KURKAN MEHMET
- Director, from 19-06-2018 to date
- Kürkan Burak
- Director, until 01-05-2020
Control
Capital
- Contribution
- €1
- Source
- 2024 annual accounts
Network & group
No group
GM CONSTRUCT has no parent and no holdings in its annual accounts. KURKAN MEHMET is the only director. GM CONSTRUCT shares no director with another company.
At the same address
Ringlaan 15, 3550 Heusden-Zolder · 1 other company| Indeherberge, Wilfried (sole trader)
establishment since 30-01-1990 |
founded in 2014 0696.294.506 |
Timeline
Timeline
18 events since 2018Board
Filings
Financial
Establishments
Insolvency
Address
20182020202220242026
2026
Registered in the Peppol Directory Reachable for e-invoices through 0208:0698589149
2025
Annual accounts 2024 filed PDFmicro format · 29 days late
Bankruptcy reversal Enterprise Court of Antwerp, Hasselt division · judgment of 30-06-2025
Bankruptcy published Enterprise Court of Antwerp, Hasselt division · judgment of 15-05-2025
2024
Weakest financial year net -€37,143 The net result drops to -€37,143, the lowest from 2018 to 2024.
Annual accounts 2023 filed PDFmicro format · 92 days before the deadline
2023
Annual accounts 2022 filed PDFmicro format · 63 days late
2022
Back to profit net €15,302 The net result is €15,302, after one loss-making year.
Annual accounts 2021 filed PDFmicro format · 153 days late
2021
Annual accounts 2020 filed PDFmicro format · 90 days late
2020
Highest result from 2018 to 2024 net €19,110 ▲39.4% The net result of €19,110 is the highest of those years.
Annual accounts 2019 filed PDFmicro format · 26 days late
Registered office moved from Beverlo to Heusden-ZolderNew registered office: Ringlaan 15 bus 1, 3550 Heusden-Zolder · Previous registered office: PATRONAATSTRAAT 11, 3581 BEVERLO · Resignation: Kürkan Burak (director) · General meeting of 01-05-20204 points ▸
- General meeting, 01-05-2020
- Director resignation, Kürkan Burak
- Director discharge, Kürkan Burak
- Registered-office move, Ringlaan 15 bus 1, 3550 Heusden-Zolder
- The deed holds 1 more point.
2019
Liquidity more than doubled current ratio 2.74 The current ratio rises from 1.26 to 2.74.
Annual accounts 2018 filed PDFmicro format · 92 days late
- General meeting, 13-03-2019
- Director appointment, Kürkan Burak (manager)
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
- 0698.589.149
- VAT number
- BE 0698.589.149
- Peppol ID
- 0208:0698589149
- Other Peppol ID
- 9925:BE0698589149
- Legal form
- Private limited company (pre-2019)
- Status
- Active, normal situation
- Founded
- 19-06-2018
- Financial year
- ends on 31 December
- Peppol
- Reachable since 06-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- GM CONSTRUCT in Dutch
- Entity type
- Legal entity
Activities
NACEBEL 202543990
Other specialised construction activities main activity
Codes under NACEBEL 2008
43999
Specialised construction activities main activity
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Ringlaan 15 registered office 3550 Heusden-Zolder 4211001 Construction of roads and motorways | 19-06-2018 | 2.279.077.554 |
1 former office
- Patronaatstraat 11, 3581 Beverlo until 01-05-2020 · deed of 10-06-2020
Buildings and parcels at the address
- Ground area
- 2,338 m²
- Buildings
- 178 m²
- Volume, LiDAR
- 1,747 m³
- Tallest building
- 15.3 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71065B0205/00V000 | 2,337 m² | 1 · 178 m² | 15.3 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 0698.589.149