Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Back in profit in 2025, after a loss of €167,184 in 2024.
The accounts state no turnover.
Of this, €2.3m falls due within a year.
Less equity than 90% of companies in real estate. Sector median €300,201 · 11,304 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, small). It does better than 11% of them on solvency, 10% on liquidity, 53% on profitability and 92% 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 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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).
In July 2024, 822 companies had the same profile as GPR Construct has now. Each dot stands for 3 companies, two years later.
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GPR Construct itself: 0.6% within 12 months.
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 822 companies, not a prediction for GPR 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.
Liquidity is tight, with a current ratio of 1.37 (1.16 in 2024), below the usual 1.5. Short-term debt is 73.1% and cash 0.4% of total assets. Equity is negative.
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.
The company filed its last 3 accounts on average 2 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| GPR Construct Antwerp | €3.1m | €283,477 | -2.8% | - |
| ATV Invest Group MAC Zandhoven | €2.9m | €331,164 | 10.4% | - |
| Pallet Mechelen | €3.6m | €238,507 | 24.6% | - |
| ZENITH CAPITAL Ranst | €3.4m | €181,256 | 24.4% | - |
| Luchtbrug 9 Schoten | €2.8m | €304,316 | 10.1% | - |
| VDB Properties Liège | €3.5m | €238,901 | 5.4% | - |
| Quercus Projects Sint-Truiden | €3.0m | €310,001 | 9.9% | - |
These companies have the same main activity as GPR Construct: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €2.8m and €3.6m, founded between 2021 and 2022.
GPR Construct files the abbreviated format. That format states no turnover. The gross margin rose from -€75,308 in 2023 to €283,477 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €500,000. Estimated: probably between €380,000 and €820,000.
Higher than 14% of 11,299 companies in 2025.
Higher than 57% of 10,851 companies in 2025.
Higher than 78% of 11,184 companies in 2025.
Net result: top quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
3.1m | 4.7m | 2.9m | |
29/58 |
3.1m | 4.7m | 2.9m | |
3 |
1.0m | 4.6m | 2.2m | |
37 |
1.0m | 4.6m | 2.2m | |
40/41 |
2.1m | 26,492 | 585,013 | |
40 |
2.0m | 44 | 585,013 | |
41 |
63,300 | 26,448 | - | |
54/58 |
11,925 | 69,827 | 68,351 | |
490/1 |
10,311 | 16,652 | 18,920 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
3.1m | 4.7m | 2.9m | |
10/15 |
-86,957 | -292,266 | -125,082 | |
10/11 |
10,600 | 10,600 | 10,600 | |
14 |
-97,557 | -302,866 | -135,682 | |
17/49 |
3.2m | 5.0m | 3.0m | |
17 |
920,000 | 920,000 | 920,000 | |
170/4 |
920,000 | 920,000 | 920,000 | |
42/48 |
2.3m | 4.1m | 2.0m | |
43 |
1.6m | 3.5m | 1.9m | |
430/8 |
1.6m | 3.5m | 1.9m | |
44 |
670,631 | 597,352 | 160,067 | |
440/4 |
670,631 | 597,352 | 160,067 | |
45 |
- | 0 | 28,847 | |
450/3 |
- | 0 | 28,847 | |
47/48 |
78 | - | - | |
492/3 |
652 | 34,638 | 20,519 | |
| Income statement | ||||
9900 |
283,477 | -58,379 | -75,308 | |
630 |
- | 0 | 1,060 | |
640/8 |
1,544 | 2,939 | 1,138 | |
9901 |
281,933 | -61,318 | -77,507 | |
75/76B |
17,365 | 3 | 1,679 | |
75 |
17,365 | 3 | 1,679 | |
65/66B |
93,989 | 105,869 | 59,855 | |
65 |
93,989 | 105,869 | 59,855 | |
9903 |
205,310 | -167,184 | -135,682 | |
9904 |
205,310 | -167,184 | -135,682 | |
9905 |
205,310 | -167,184 | -135,682 | |
| Appropriation of the result | ||||
9906 |
-97,557 | -302,866 | -135,682 | |
14P |
-302,866 | -135,682 | - | |
| 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 31-07-2026.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| - | -61,318 | -76,447 | ||
| - | -167,184 | -134,623 | ||
| - | 0 | 1,060 | ||
| -57,903 | 1,476 | - | ||
| 833,696 | 662,371 | 815,437 | ||
| -2.8% | -6.2% | -4.4% | ||
| 1.37 | 1.16 | 1.40 | ||
| 0.92 | 0.03 | 0.33 | ||
| 6.6% | -3.5% | -4.8% | ||
| - | -0.58 | -1.28 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Intangible fixed assets | - | - | €1,060 |
| - | €0 | €1,060 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €281,933, after a loss of €61,318 in 2024. It is the highest result since 2023.
Equity is negative. Debt (€3.2m) exceeds the balance-sheet total (€3.1m).
Source: lists of holdings in the owners' accounts
GPR Construct has no parent and no holdings in its annual accounts.
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Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 18 January 2022, GPR Construct was incorporated as a private limited company by Fundamento, Continuum, PHB Management and one natural person, with a starting capital of €10,600.12 In 2025 the registered office moved to Antwerp.3 Total assets went from €2.9m in 2023 to €3.1m in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Geuzenstraat 22 registered office 2000 Antwerp | ||
| Slachthuislaan 78 2060 Antwerp | 18-01-2022 | 2.331.337.887 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11805E0384/00G008 | 1,486 m² | 1 · 1,486 m² | 11.2 m · 2 |
| 11811L3616/00L002 | 152 m² | 1 · 111 m² | 23.4 m · 6 |
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 0780.615.517
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