HD CONSTRUCT
ActiveSummary
HD CONSTRUCT has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €239,422 and a net result of €51,142. Equity is growing by ~47.6% per year across the filed fiscal years. Its solvency ranks better than 84% of 9974 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability93▲+5
Solvency100▲+34
Growth75▼-6
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days only on tighter terms
Liquidity ample (current ratio 10.77 against 6.77 in 2023; short-term debt: 9% and cash: 35.1% of total assets), and 24.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-01-2026, 184 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
184 d late
2023
54 d late
2022
36 d late
2021
184 d late
2020
58 d late
2019
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 82 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€268,312▼ 9.8%
2023 · €297,547
EBIT margin
18.4%▼ 7.6pp
2023 · 26.0%
Net result
€51,142▲ 4.1%
2023 · €49,145
Working capital
€278,424▼ 24.6%
2023 · €369,176
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
Line20202021202220232024
Turnover€303,767▲ 87.6%€139,690▼ 54.0%€451,482▲ 223%€297,547▼ 34.1%€268,312▼ 9.8%
Operating result€49,316▼ 73.4%€21,385▼ 56.6%€71,648▲ 235%€77,429▲ 8.1%€49,444▼ 36.1%
Net result€34,706▼ 74.3%€13,367▼ 61.5%€42,706▲ 219%€49,145▲ 15.1%€51,142▲ 4.1%
EBIT margin16.2%▼ 98.2pp15.3%▼ 0.9pp15.9%▲ 0.6pp26.0%▲ 10.2pp18.4%▼ 7.6pp
Equity€83,062▲ 71.8%€96,429▲ 16.1%€139,135▲ 44.3%€188,280▲ 35.3%€239,422▲ 27.2%
Total assets€610,362▼ 30.4%€1.0m▲ 65.6%€584,981▼ 42.1%€459,059▼ 21.5%€318,205▼ 30.7%
Debt€527,300▼ 36.4%€914,594▲ 73.4%€445,847▼ 51.3%€270,779▼ 39.3%€78,784▼ 70.9%
Working capital€556,501▼ 17.1%€916,974▲ 64.8%€498,358▼ 45.7%€369,176▼ 25.9%€278,424▼ 24.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 36% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €318,205
Fixed assets
€11,286 ▼ 56.4%
Current assets
€306,919 ▼ 29.2%
Equity and liabilities €318,205
Equity
€239,422 ▲ 27.2%
Debt
€78,784 ▼ 70.9%
Debt's share of the balance-sheet total falls from 59.0% to 24.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€64,020▼
2023 · €92,005
Cash flow
€65,718▲
2023 · €63,721
Current ratio
10.77▲
2023 · 6.77
Quick ratio
5.84▲
2023 · 1.58
Debt to equity
0.33▼
2023 · 1.44
ROE
21.4%▼
2023 · 26.1%
ROA
16.1%▲
2023 · 10.7%
Interest coverage
385.34▲
2023 · 9.11
Debt ≤ 1 year
€28,495▼
2023 · €64,021
Debt > 1 year
€50,289▼
2023 · €147,101
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,672 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €303,767 | €139,690 | €451,482 | €297,547 | €268,312 | ▼ 9.8% |
| Goods, raw materials, services and sundry goods60/61 | - | €45,010 | €21,064 | €9,602 | €202,448 | ▲ 2,008% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €141,642 | €14,576 | €14,576 | €14,576 | €14,576 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €54,000 | €342,000 | €195,750 | - | - |
| Other operating charges640/8 | - | €4,719 | €2,194 | €190 | €1,844 | ▲ 871% |
| Gross operating margin9900 | €298,775 | €94,680 | €430,418 | €287,945 | €65,865 | ▼ 77.1% |
| Operating profit (loss)9901 | €49,316 | €21,385 | €71,648 | €77,429 | €49,444 | ▼ 36.1% |
| Financial income75/76B | - | €2,272 | €0 | - | €1,863 | - |
| Recurring financial income75 | - | €2,272 | €0 | - | €1,863 | - |
| Non-recurring financial income76B | - | €2,272 | €0 | - | - | - |
| Financial charges65/66B | - | €5,700 | €13,374 | €10,100 | €166 | ▼ 98.4% |
| Recurring financial charges65 | €1,977 | €5,700 | €13,374 | €10,100 | €166 | ▼ 98.4% |
| Profit (loss) for the period before taxes9903 | €47,339 | €17,958 | €58,274 | €67,329 | €51,142 | ▼ 24.0% |
| Income taxes67/77 | €12,633 | €4,590 | €15,568 | €18,184 | - | - |
| Profit (loss) for the period9904 | €34,706 | €13,367 | €42,706 | €49,145 | €51,142 | ▲ 4.1% |
| Profit (loss) for the period to be appropriated9905 | €34,706 | €13,367 | €42,706 | €49,145 | €51,142 | ▲ 4.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €610,362 | €1.0m | €584,981 | €459,059 | €318,205 | ▼ 30.7% |
| Fixed assets21/28 | €14,719 | €55,015 | €40,439 | €25,863 | €11,286 | ▼ 56.4% |
| Tangible fixed assets22/27 | €14,407 | €54,703 | €40,127 | €25,551 | €10,974 | ▼ 57.0% |
| Land and buildings22 | - | €10,805 | €7,204 | €3,602 | - | - |
| Furniture and vehicles24 | - | €43,898 | €32,923 | €21,949 | €10,974 | ▼ 50.0% |
| Financial fixed assets28 | €312 | €312 | €312 | €312 | €312 | = |
| Current assets29/58 | €595,643 | €956,009 | €544,543 | €433,196 | €306,919 | ▼ 29.2% |
| Amounts receivable after more than one year29 | - | €83,126 | - | €29,296 | - | - |
| Other amounts receivable291 | - | €83,126 | - | €29,296 | - | - |
| Stocks and contracts in progress3 | €309,000 | €870,000 | €528,000 | €332,250 | €140,625 | ▼ 57.7% |
| Stocks30/36 | - | €870,000 | €528,000 | - | €140,625 | - |
| Contracts in progress37 | - | - | - | €332,250 | - | - |
| Amounts receivable within one year40/41 | €60,086 | - | - | - | €52,861 | - |
| Other amounts receivable41 | - | - | - | - | €52,861 | - |
| Cash at bank and in hand54/58 | €981 | €237 | €12,960 | €67,931 | €111,834 | ▲ 64.6% |
| Deferred charges and accrued income490/1 | - | €2,646 | €3,582 | €3,719 | €1,599 | ▼ 57.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €610,362 | €1.0m | €584,981 | €459,059 | €318,205 | ▼ 30.7% |
| Equity10/15 | €83,062 | €96,429 | €139,135 | €188,280 | €239,422 | ▲ 27.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | - | €18,600 | - | - |
| Issued capital100 | - | €18,600 | - | €18,600 | - | - |
| Reserves13 | €56,860 | €56,860 | €96,860 | €141,860 | €141,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Legal reserve130 | - | €1,860 | - | €1,860 | - | - |
| Other1319 | - | - | €1,860 | - | - | - |
| Distributable reserves133 | - | €55,000 | €95,000 | €140,000 | €141,860 | ▲ 1.3% |
| Profit (loss) carried forward14 | €7,602 | €20,969 | €23,675 | €27,820 | €78,962 | ▲ 184% |
| Amounts payable17/49 | €527,300 | €914,594 | €445,847 | €270,779 | €78,784 | ▼ 70.9% |
| Amounts payable after more than one year17 | €488,158 | €875,560 | €399,662 | €147,101 | €50,289 | ▼ 65.8% |
| Financial debts170/4 | - | €875,560 | €399,662 | €147,101 | €50,289 | ▼ 65.8% |
| Amounts payable within one year42/48 | €39,142 | €39,034 | €46,184 | €64,021 | €28,495 | ▼ 55.5% |
| Current portion of amounts payable after more than one year42 | - | €10,256 | €10,256 | €10,256 | - | - |
| Trade debts44 | - | - | €4,185 | €9,701 | - | - |
| Suppliers440/4 | - | - | €4,185 | €9,701 | - | - |
| Taxes, remuneration and social security45 | - | €17,225 | €20,159 | €33,551 | €17,982 | ▼ 46.4% |
| Taxes450/3 | - | €17,225 | €20,159 | €33,551 | €17,982 | ▼ 46.4% |
| Other amounts payable47/48 | - | €11,554 | €11,584 | €10,513 | €10,513 | = |
| Accrued charges and deferred income492/3 | - | - | - | €59,657 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,706 | €13,367 | €42,706 | €49,145 | €51,142 | ▲ 4.1% |
| + Depreciation and write-downs630 | €141,642 | €14,576 | €14,576 | €14,576 | €14,576 | = |
| Operating cash flow (approximation) | €176,348 | €27,943 | €57,282 | €63,721 | €65,718 | ▲ 3.1% |
| Investment in fixed assets (approximation) | - | -€54,872 | €0 | €0 | €0 | - |
| Change in cash | - | -€744 | €12,724 | €54,971 | €43,902 | ▼ 20.1% |
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
2026
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 184 days late
2024
31-12
Financial
Equity above €200,000Eq €239,422 ▲27.2%
6 profitable years in a row build equity to €239,422.
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 54 days late
2023
31-12
Financial
Equity above €150,000Eq €188,280 ▲35.3%
5 profitable years in a row build equity to €188,280.
05-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 36 days late
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 184 days late
2022
31-12
Financial
Equity above €100,000Eq €139,135 ▲44.3%
4 profitable years in a row build equity to €139,135.
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 58 days late
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €135,083
Net result €135,083 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 59 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Mechelen · 1 establishment unit since 2015
Ground area
434 m²
Building footprint
96 m²
Parcel 12404G0661/00D000, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Vijverstraat 3c, 2800 Mechelen
since 20152.241.094.631
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404G0661/00D000 | Flanders | 434 m² | 1 · 96 m² | - |
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 2,456 companies in sector 41003 we hold annual accounts for 1,055. 695 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
Founded16-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
41003General construction of other non-residential buildings
68121Development of residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0600995568
Registered
26-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.