HAPPY CONSTRUCT
ActiveSummary
HAPPY CONSTRUCT has been active since 2014 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €229,757 and a net result of €60,414. Equity has been growing by about 9.1% per year since 2019. Its solvency ranks better than 24% of 2,445 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 23-01-2014 Normal situation
- Registered office
- 238 active companies are registered at this address 18 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Site preparation NACE 43120and 6 others
- Joint committee
- 124 Paritair Comité voor het bouwbedrijf · annual accounts 30-06-2022
- Establishment unit
- 2.226.222.254 1000 Brussel, since 03-02-2014
- Financial year end
- 30 June
- Peppol
- Reachable since 22-10-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
- Gross margin
- €1.0m
- ▲ 19.4%
- Turnover
- ≈ €2.9m
- estimated
- Profit
- €60,414
- ▲ 189%
- Equity
- €229,757
- ▲ 35.7%
- Total assets
- €982,512
- ▲ 67.2%
- Staff
- 16.9 FTE
- ▼ 6.1%
- 2025 accounts filed 7 days after the deadline
Score breakdownraises riskSize: 16.9 FTE, total assets €982,512Sector: Specialised construction activities (NACE 43)Equity €229,757 (23.4% of total assets)lowers riskFounded in 2014Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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, small). It does better than 26% of them on solvency, 26% on liquidity, 62% on profitability and 87% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 13 days before 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 (2)
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 7 days after the deadline Filed on 7 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00036603.
Annual accounts 2025 filed on 07-02-2026 PDF all 11 filings
Every figure per financial year
The operating result for 2025 is 165% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Staff
| Item | 30-06-2022 | 30-06-2023 |
|---|---|---|
| Employees at the balance-sheet date | 20 | 17 |
| full-time | 20 | 17 |
| part-time | 0 | 0 |
| in full-time equivalents | 20 | 17 |
| Average over the year, in full-time equivalents | 18.7 | 17.7 |
| On a permanent contract | 20 | 17 |
| Joined | 2 | 0 |
| Left | 0 | 3 |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,404 |
| Depreciation and write-downs of the year | €3,493 | €3,318 | €934 | €115 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.7m | €0.8m | €0.8m | €0.9m | ▲ 13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.004m | €0.004m | €0.003m | €0.003m | €0.003m | €0.001m | €115 | ▼ 87.6% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.002m | €0.003m | ▲ 69.8% |
| Gross operating margin9900 | €0.5m | €0.4m | €0.7m | €0.8m | €0.8m | €0.9m | €1.0m | ▲ 19.4% |
| Operating profit (loss)9901 | €0.07m | €0.08m | €0.01m | €0.04m | €0.02m | €0.03m | €0.09m | ▲ 165% |
| Financial income75/76B | - | - | - | - | €4 | - | €90 | - |
| Recurring financial income75 | - | €0 | - | - | €4 | - | €90 | - |
| Financial charges65/66B | - | - | - | €0.01m | €0.005m | €0.004m | €0.002m | ▼ 56.9% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.003m | €0.01m | €0.005m | €0.004m | €0.002m | ▼ 56.9% |
| Profit (loss) for the period before taxes9903 | €0.05m | €0.06m | €0.01m | €0.02m | €0.01m | €0.03m | €0.08m | ▲ 199% |
| Income taxes67/77 | €0.04m | €0.03m | €0.006m | €0.007m | €0.007m | €0.007m | €0.02m | ▲ 224% |
| Profit (loss) for the period9904 | €0.008m | €0.03m | €0.005m | €0.02m | €0.008m | €0.02m | €0.06m | ▲ 189% |
| Profit (loss) for the period to be appropriated9905 | €0.008m | €0.03m | €0.005m | €0.02m | €0.008m | €0.02m | €0.06m | ▲ 189% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €546,859 | €630,240 | €612,888 | €441,440 | €775,444 | €587,644 | €982,512 | ▲ 67.2% |
| Fixed assets21/28 | €4,737 | €587 | €7,895 | €4,402 | €1,084 | €150 | €1,439 | ▲ 859% |
| Tangible fixed assets22/27 | €4,587 | €437 | €7,745 | €4,252 | €934 | €0 | €1,289 | - |
| Furniture and vehicles24 | - | - | - | €4,252 | €934 | €0 | €1,289 | - |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €542,122 | €629,652 | €604,994 | €437,038 | €774,360 | €587,494 | €981,073 | ▲ 67.0% |
| Amounts receivable within one year40/41 | €533,911 | €622,210 | €430,553 | €391,824 | €726,645 | €515,078 | €798,339 | ▲ 55.0% |
| Trade receivables40 | - | - | - | €389,189 | €726,235 | €512,098 | €798,339 | ▲ 55.9% |
| Other amounts receivable41 | - | - | - | €2,635 | €410 | €2,981 | - | - |
| Cash at bank and in hand54/58 | €4,380 | €3,271 | €167,340 | €45,215 | €47,442 | €71,622 | €175,335 | ▲ 145% |
| Deferred charges and accrued income490/1 | - | - | - | - | €274 | €793 | €7,398 | ▲ 832% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €546,859 | €630,240 | €612,888 | €441,440 | €775,444 | €587,644 | €982,512 | ▲ 67.2% |
| Equity10/15 | €174,583 | €119,511 | €124,841 | €140,663 | €148,472 | €169,344 | €229,757 | ▲ 35.7% |
| Contributions10/11 | €12,400 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - | - | - |
| Reserves13 | €20,610 | €20,610 | €20,610 | €20,610 | €20,610 | €20,610 | €20,610 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Profit (loss) carried forward14 | €141,573 | €80,301 | €85,631 | €101,453 | €109,262 | €130,134 | €190,547 | ▲ 46.4% |
| Amounts payable17/49 | €372,277 | €510,729 | €488,048 | €300,778 | €626,972 | €418,301 | €752,754 | ▲ 80.0% |
| Amounts payable after more than one year17 | - | - | €1,360 | - | - | - | - | - |
| Amounts payable within one year42/48 | €372,277 | €510,556 | €486,687 | €300,778 | €597,999 | €418,301 | €735,445 | ▲ 75.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,360 | - | - | - | - |
| Trade debts44 | €240,305 | €237,330 | €130,473 | €56,697 | €411,415 | €105,568 | €393,113 | ▲ 272% |
| Suppliers440/4 | - | - | - | €56,697 | €411,415 | €105,568 | €393,113 | ▲ 272% |
| Taxes, remuneration and social security45 | - | - | - | €193,115 | €98,718 | €264,117 | €300,008 | ▲ 13.6% |
| Taxes450/3 | - | - | - | €19,625 | €46,079 | €93,497 | €94,795 | ▲ 1.4% |
| Remuneration and social security454/9 | - | - | - | €173,491 | €52,639 | €170,620 | €205,213 | ▲ 20.3% |
| Other amounts payable47/48 | - | - | - | €49,605 | €87,866 | €48,615 | €42,324 | ▼ 12.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €28,973 | - | €17,309 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,842 | €30,728 | €5,330 | €15,822 | €7,810 | €20,871 | €60,414 | ▲ 189% |
| + Depreciation and write-downs630 | €4,150 | €4,150 | €2,563 | €3,493 | €3,318 | €934 | €115 | ▼ 87.6% |
| Operating cash flow (approximation) | €11,992 | €34,878 | €7,892 | €19,315 | €11,128 | €21,805 | €60,529 | ▲ 178% |
| Investment in fixed assets (approximation) | - | €0 | -€9,870 | €0 | €0 | €0 | -€1,404 | - |
| Change in cash | - | -€1,109 | €164,069 | -€122,125 | €2,227 | €24,181 | €103,713 | ▲ 329% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,609 companies had the same profile as HAPPY CONSTRUCT has now. Two years later, 96.8% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of HAPPY CONSTRUCT itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,609 companies, not a prediction for HAPPY 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.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 07-02-2026 | 2026-00036603 | |
| 30-06-2024 | full format | 28-01-2025 | 2025-00014699 | |
| 30-06-2023 | full format | 30-12-2023 | 2024-00543201 | |
| 30-06-2022 | full format | 02-01-2023 | 2023-20556610 | |
| 30-06-2021 | full format | 21-01-2022 | 2022-01600384 | |
| 30-06-2020 | full format | 28-01-2021 | 2021-02300397 | |
| 30-06-2019 | full format | 10-01-2020 | 2020-00800255 | |
| 30-06-2018 | full format | 21-01-2019 | 2019-02100088 | |
| 30-06-2017 | full format | 01-02-2018 | 2018-04100411 | |
| 30-06-2016 | full format | 16-02-2017 | 2017-04500313 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 07-02-2023 Converted to unavailable equity
- 07-02-2023 Converted to available equity
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement si plusieurs, frais procédure et expertise, déduction faite des actions dont cession…”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Assemblée générale peut désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments, quelque cause et à quelque moment que ce…”
Articles of association, deed of 07-02-2023 (in French)
Network & group
HAPPY CONSTRUCT shares no director with another company.
Companies at the same address
237 other companies- De Energieadviseur België (Le Conseiller Énergie Belgique) Registered office · since 2026 1044371482
- Anchor Bidco Registered office · since 2026 1044046335
- Anchor Topco Registered office · since 2026 1044030004
- AVENZIA TRADE Registered office · since 2026 1043892917
- Stanev, Martin (sole trader) Establishment · since 2026 1041290842
- YNOMA Registered office · since 2026 1040394284
- ITROIS TECH EU Registered office · since 2026 1038071333
- RMZ Registered office · since 2026 1039843463
- Studio Byte Registered office · since 2026 1039853856
- Inventum Belgium Registered office · since 2026 1038044510
Connections & network
1 current directorThe network starts from the directors of HAPPY CONSTRUCT. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
07-02
Gazette deed
Registered office moved from Schaerbeek to BruxellesAppointment: Mehmet OZCELIK (director) · Power of attorney · Board rule11 points ▸
- Power of attorney, Jean-François POELMAN
- Other provision, “fin de fonction administrateurs actuels (anciens gérants), mandat conféré sous empire ancien Code des sociétés” (deed in French)
- Board rule, 1
- Director appointment, Mehmet OZCELIK (director)
- Registered office clause, “rue Picard,7,Box 100, Bruxelles” (deed in French)
- General meeting, 31-01-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital conversion, “disponible pour distribution” (deed in French)
- Registered-office move, Rue Picard,7,Box 100 1000 Bruxelles
- Capital
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- boulevard Lambermont,140,boîte 2/G, 1030 Schaerbeek until 31-01-2023 · act of 07-02-2023
Activities
NACEBEL 2025Codes under NACEBEL 2008
7 activities
- L’entreprise générale de bâtiment,éventuellement par coordination de sous-traitance et comprenant ainsi notamment la construction,la fabrication,l’entreprise ou le parachèvement,l’achat,la vente ou la location,pour son compte ou celui de tiers,de tout ce qui concerne,directement ou indirectement,le bâtiment,le placement de matériaux isolants au point de vue thermique et acoustique,les travaux routiers,hydrauliques et de dragages,les ouvrages d’arts,la préfabrication,les constructions métalliques,les terrassements,le nettoyage de chantiers,ainsi que l’exportation de matériaux de construction,de matériaux de gros œuvre,de finitions allant jusque et y compris le clef sur porte,inclus l’ameublement et la décoration des bâtiments,l’étude et la réalisation de projets de constructions industrielles et/ou commerciales.
- L'achat,la vente,l'import,l'export,le commerce en gros et détail,le négoce de vins,liqueurs,bières,eaux,spiritueux,alimentation et tous produits du secteur « Horeca » en général.
- Toutes activités en rapport direct ou indirect avec la restauration en général et le secteur « Horeca » .
- L'organisation de banquets,de réception,de service traiteur,y compris l'organisation,la gestion et l'exploitation de restaurants,débits de boissons et autres.
- L'activité de petite restauration,la vente de produits frais et de plats préparés à consommer sur place et à emporter.
- L’achat,la vente,l’importation,l’exportation et le négoce de véhicules à moteur et accessoires,neufs et d’occasion,de lubrifiant,graisses ainsi que de tous produits manufacturés et non manufacturés.
- Le commerce en gros et le négoce de tout matériel,outillage et autres objets se rapportant directement ou indirectement aux activités précitées.
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 0544.691.820
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Recognised contractor
1 category- D1 All shell construction and roofing-in of buildingsclass 3, up to €600,000
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21814P0441/00B000 | Brussels | 4.4 ha | 1 · 3.9 ha | 34.0 m · 6 |