Equity
-€4,623
Debts exceed assets in financial year 2025.
GV CONSTRUCT
Lifetime
5 annual accounts with figures on one time axispeak €701,283 (2023)
€288▼ 99.8%
lowest -€15,248 (2025)
-€15,248▼ €10,665
peak €17,567 (2021)
-€4,623▼ €15,248
€17.0m▲ 217%
Board6 names since 2020
6 directorsED SOMERS INVEST and 5 others
Owners2 names in the annual accounts
50%VASO Constructions and 1 other
Documentsfilings and deeds
15-07-202616 days before the deadline
2025abbreviated format
Gross margin from €160,227 to €288Loss of €15,248Registered office moved within Hasselt 05-05Equity from €10,625 to -€4,623Debts from €5.4m to €17.0mCash from €204,973 to €2.4m
Key points
from the 2025 annual accountsLosses
-€24,623 in five years
Every financial year from 2021 to 2025 closed with a loss. 2025 was the heaviest.
Turnover
≈ €1,200 estimated
The abbreviated format states no turnover.
Debts
€17.0m 100% of the balance sheet
Suppliers 12%Taxes and wages 0%Other 88%
At the same address
56 companies
Position in the sector
-€4,623
Less equity than 83% of companies in real estate. Sector median €300,201 · 11,304 companies.
Checked score
53
Fair
Financially stronger than 17% of medium-sized companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,720 companies (NACE 68, medium-sized).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%lowest value
01-2025: 0.2%● unchanged vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.3%▲ +0.1 percentage points vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.8%▲ +0.5 percentage points vs 05-2025
07-2025: 0.8%● unchanged vs 06-2025
08-2025: 1.2%▲ +0.4 percentage points vs 07-2025highest value
09-2025: 0.4%▼ -0.8 percentage points vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged 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: 0.5%▲ +0.1 percentage points vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.6%▲ +0.1 percentage points vs 06-2026
08-2026: 0.2%▼ -0.4 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€4,623
1 change of registered office in 24 months
lowers risk
Size: total assets €17.0m
Sector: Real estate activities (NACE 68)
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 68, medium-sized). It does better than 14% of them on solvency, 13% on liquidity, 38% on profitability and 4% 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, 111 companies had the same profile as GV CONSTRUCT has now. Each dot is one company, two years later.
96.4%
were still trading
2.7%
stopped another way
0.0%
went bankrupt
Another 0.9% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GV CONSTRUCT itself: 0.2% 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.
| 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 111 companies, not a prediction for GV 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
No credit on open account
Liquidity is insufficient, with a current ratio of 1.0 (1.01 in 2024), below 1. Short-term debt is 100% and cash 14% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year -€4,623
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
16 days early
2024
4 days late
2023
19 days early
2022
18 days early
2021
17 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 13 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.
Searched, nothing found (2)
neutral · 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 14 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- VASO Constructions 50%score 93equity €3.2m (2025) · 2025 annual accounts of VASO Constructions
- J.M. CONSTRUCT 33.33%equity €48.3m (2025) · 2025 annual accounts of J.M. CONSTRUCT
Recent changes
Registered office moved within Hasselt
New registered office: Kolonel Dusartplein 20, 3500 Hasselt · Previous registered office: Havermarkt 22, 3500 Hasselt · Board meeting of 14-03-2025 · Gazette deed
1 director appointed, 1 resignation
Resignation: IRREALIS · Permanent representatives: Laurens Gilen and Rudi Gilen · Appointment: IRREALIS · General meeting of 29-04-2024 · Gazette deed
6 directors appointed, 4 resignations
Resignations: BV IRREALIS, VGV INVEST, ED SOMERS INVEST and TRIVIUM · Appointments: BV IRREALIS, VGV INVEST, ED SOMERS INVEST, TRIVIUM, JEMI CONSULT and BEFAS · Permanent representatives: Rudi Gilen, Vangronsveld Stefan, Somers Edwin, Laurens Gilen, MACHIELS Louis and SOETAERS Fabienne · Gazette deed
Incorporation
Founding capital of €20,000, 100 shares · Founders: IRREALIS and VASO Constructions · Permanent representatives: SOMERS Edwin, VANGRONSVELD Stefan, Rudi GILEN and Laurens Gilen · published on 12-05-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GV CONSTRUCT Hasselt | €17.0m | €288 | 0.0% | - |
| Motown Parc Construct Brussels | €14.9m | -€11,680 | -10.4% | - |
| LGV VAZ Herent | €14.0m | €998 | 0.1% | - |
| GEGROND Ghent | €13.2m | -€25,925 | 27.3% | 0 |
| COLONEL STONE Brussels | €22.9m | -€3,910 | -0.1% | 0 |
| VMS HOLDING Hasselt | €9.9m | -€1,308 | 3.2% | - |
| VDD WR Bruges | €21.3m | -€5,415 | 0.0% | 0 |
These companies have the same main activity as GV CONSTRUCT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €9.9m and €23m, founded between 2019 and 2020.
Official details
Source: KBO- Status
- Active since 08-05-2020Normal situation
- Registered office
- 57 active companies are registered at this address5 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Development of residential building projectsNACE 68121
- Establishment unit
- 2.303.004.8803500 Hasselt, since 08-05-2020
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €17.0m▲ 216%
- Filing
- Filed on 15-07-2026, 16 days before the end of the filing period
Insights on GV CONSTRUCT
GV CONSTRUCT files the abbreviated format. That format states no turnover. The gross margin fell from €9,632 in 2021 to €288 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about GV CONSTRUCT
- What is the company number of GV CONSTRUCT?
- The company number of GV CONSTRUCT is 0746.783.994. The VAT number is the same number with BE in front: BE 0746.783.994.
- Where is GV CONSTRUCT based?
- The registered office is at Kolonel Dusartplein 20, 3500 Hasselt.Company details
- What does GV CONSTRUCT do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of GV CONSTRUCT?
- GV CONSTRUCT is a private limited company (BV).
- When was GV CONSTRUCT founded?
- GV CONSTRUCT was founded on 08-05-2020.
- Is GV CONSTRUCT still active?
- Yes, GV CONSTRUCT is an active enterprise in the KBO register.
- What is the turnover of GV CONSTRUCT?
- The turnover in financial year 2025 is ≈ €1,200. This figure is estimated from the gross margin of €288 and 48 comparable companies (NACE 68121). It probably lies between €590 and €3,800. It is a rough estimate.Financials
- Is GV CONSTRUCT profitable?
- In financial year 2025, GV CONSTRUCT made a loss of €15,248.
- Where can I find the annual accounts of GV CONSTRUCT?
- GV CONSTRUCT filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of GV CONSTRUCT due?
- GV CONSTRUCT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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