HELDOR CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of HELDOR CONSTRUCT is 1.8% (moderate). The 2025 annual accounts show negative equity (-€2,290) and a net result of €8,680. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 7730 sector peers (fiscal year 2025). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+16
Solvency6▲+6
Growth38=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.81 against 0.29 in 2024; short-term debt: 119.2% and cash: 81.7% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-19.2%
Return on assets
72.8%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 7730 sector peers (2025).
NBB · sector comparisonPosition among 7730 sector peers
Solvency
better than 8%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 04-02-2026, 4 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
4 d late
2024
3 d late
2023
3 d early
2022
35 d early
2021
27 d early
2020
24 d early
2019
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 28 January (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€22,421▼ 17.3%
2024 · €27,095
EBIT margin
39.1%▲ 18.1pp
2024 · 21.1%
Net result
€8,680▲ 179%
2024 · €3,116
Working capital
-€2,671▲ 80.3%
2024 · -€13,552
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€41,049€27,095▼ 34.0%€22,421▼ 17.3%
Operating result-€16,798▼ 5,149%-€3,489▲ 79.2%€7,102€5,705▼ 19.7%€8,772▲ 53.8%
Net result-€17,060below the sector's middle half▼ 2,706%-€3,741below the sector's middle half▲ 78.1%€7,314within the sector's middle half€3,116within the sector's middle half▼ 57.4%€8,680within the sector's middle half▲ 179%
EBIT margin17.3%21.1%▲ 3.8pp39.1%▲ 18.1pp
Equity-€17,660below the sector's middle half▼ 2,843%-€21,401below the sector's middle half▼ 21.2%-€14,086below the sector's middle half▲ 34.2%-€10,970below the sector's middle half▲ 22.1%-€2,290below the sector's middle half▲ 79.1%
Total assets€9,073below the sector's middle half▼ 72.4%€3,265below the sector's middle half▼ 64.0%€15,440below the sector's middle half▲ 373%€8,087below the sector's middle half▼ 47.6%€11,920below the sector's middle half▲ 47.4%
Debt€26,733▼ 20.1%€24,666▼ 7.7%€29,526▲ 19.7%€19,057▼ 35.5%€14,210▼ 25.4%
Working capital-€17,710below the sector's middle half▼ 2,625%-€21,451below the sector's middle half▼ 21.1%-€17,724below the sector's middle half▲ 17.4%-€13,552below the sector's middle half▲ 23.5%-€2,671below the sector's middle half▲ 80.3%
Solvency-194.6%below the sector's middle half▼ 192.8pp-91.2%below the sector's middle half-135.6%below the sector's middle half▼ 44.4pp-19.2%below the sector's middle half▲ 116.4pp
Current ratio0.34below the sector's middle half▼ 0.640.40below the sector's middle half0.29below the sector's middle half▼ 0.110.81below the sector's middle half▲ 0.52
Return on assets (ROA)-188.0%below the sector's middle half▼ 186.2pp47.4%above the sector's middle half38.5%above the sector's middle half▼ 8.8pp72.8%above the sector's middle half▲ 34.3pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 54% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11,920
Fixed assets
€381 ▼ 85.3%
Current assets
€11,539 ▲ 110%
Equity and liabilities
Equity-€2,290
Debt€14,210
Equity is negative: debt (€14,210) exceeds the balance-sheet total (€11,920).
Key figures and ratios
EBITDA
€10,973▲
2024 · €7,852
Cash flow
€10,881▲
2024 · €5,264
Interest coverage
119.20▲
2024 · 3.03
Debt ≤ 1 year
€14,210▼
2024 · €19,057
Staff costs
€387
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 3,795 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €41,049 | €27,095 | €22,421 | ▼ 17.3% |
| Non-recurring operating income76A | - | €3,900 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €30,687 | €18,832 | €10,983 | ▼ 41.7% |
| Remuneration, social security and pensions62 | - | - | €1,080 | - | €387 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,767 | €2,148 | €2,201 | ▲ 2.5% |
| Other operating charges640/8 | - | - | €413 | €410 | €77 | ▼ 81.2% |
| Gross operating margin9900 | -€16,433 | -€3,489 | €10,362 | €8,263 | €11,438 | ▲ 38.4% |
| Operating profit (loss)9901 | -€16,798 | -€3,489 | €7,102 | €5,705 | €8,772 | ▲ 53.8% |
| Financial income75/76B | - | - | €1,853 | - | - | - |
| Recurring financial income75 | - | - | €1,853 | - | - | - |
| Non-recurring financial income76B | - | - | €1,853 | - | - | - |
| Financial charges65/66B | - | €252 | €1,641 | €2,588 | €92 | ▼ 96.4% |
| Recurring financial charges65 | €262 | €252 | €1,641 | €2,588 | €92 | ▼ 96.4% |
| Profit (loss) for the period before taxes9903 | -€17,060 | -€3,741 | €7,314 | €3,116 | €8,680 | ▲ 179% |
| Profit (loss) for the period9904 | -€17,060 | -€3,741 | €7,314 | €3,116 | €8,680 | ▲ 179% |
| Profit (loss) for the period to be appropriated9905 | -€17,060 | -€3,741 | €7,314 | €3,116 | €8,680 | ▲ 179% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9,073 | €3,265 | €15,440 | €8,087 | €11,920 | ▲ 47.4% |
| Fixed assets21/28 | €50 | €50 | €3,638 | €2,582 | €381 | ▼ 85.3% |
| Tangible fixed assets22/27 | - | - | €3,588 | €2,582 | €381 | ▼ 85.3% |
| Plant, machinery and equipment23 | - | - | - | €761 | €381 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | €3,588 | €1,821 | - | - |
| Financial fixed assets28 | €50 | €50 | €50 | - | - | - |
| Current assets29/58 | €9,023 | €3,215 | €11,802 | €5,505 | €11,539 | ▲ 110% |
| Amounts receivable within one year40/41 | €5,948 | €3,193 | €11,033 | €2,167 | €1,803 | ▼ 16.8% |
| Trade receivables40 | - | - | €8,168 | €1,888 | €1,782 | ▼ 5.6% |
| Other amounts receivable41 | - | €3,193 | €2,866 | €279 | €21 | ▼ 92.6% |
| Cash at bank and in hand54/58 | €3,075 | €22 | €768 | €3,339 | €9,737 | ▲ 192% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9,073 | €3,265 | €15,440 | €8,087 | €11,920 | ▲ 47.4% |
| Equity10/15 | -€17,660 | -€21,401 | -€14,086 | -€10,970 | -€2,290 | ▲ 79.1% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €3,929 | €3,929 | €3,929 | €3,929 | €3,929 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €2,069 | €2,069 | €2,069 | €2,069 | = |
| Profit (loss) carried forward14 | -€27,789 | -€31,530 | -€24,215 | -€21,099 | -€12,419 | ▲ 41.1% |
| Amounts payable17/49 | €26,733 | €24,666 | €29,526 | €19,057 | €14,210 | ▼ 25.4% |
| Amounts payable within one year42/48 | €26,733 | €24,666 | €29,526 | €19,057 | €14,210 | ▼ 25.4% |
| Financial debts43 | - | €1,614 | - | - | - | - |
| Credit institutions430/8 | - | €1,614 | - | - | - | - |
| Trade debts44 | €1,425 | €988 | €4,598 | €520 | €382 | ▼ 26.4% |
| Suppliers440/4 | - | €988 | €3,029 | €106 | - | - |
| Bills of exchange payable441 | - | - | €1,569 | €414 | €382 | ▼ 7.5% |
| Other amounts payable47/48 | - | €22,064 | €24,928 | €18,538 | €13,828 | ▼ 25.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,060 | -€3,741 | €7,314 | €3,116 | €8,680 | ▲ 179% |
| + Depreciation and write-downs630 | - | - | €1,767 | €2,148 | €2,201 | ▲ 2.5% |
| Operating cash flow (approximation) | -€17,060 | -€3,741 | €9,082 | €5,264 | €10,881 | ▲ 107% |
| Investment in fixed assets (approximation) | - | €0 | -€5,356 | -€1,091 | €0 | ▲ 100% |
| Change in cash | - | -€3,053 | €746 | €2,570 | €6,398 | ▲ 149% |
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
Next filing, fiscal year 2026, expected by
2026
04-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
30-06
Financial
Highest result since 2019net €8,680 ▲179%
Operating result €8,772, net result €8,680, both a record.
03-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 3 days late
2024
28-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €7,314
Net result €7,314 after 4 loss-making years.
2022
27-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
04-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Weakest financial yearnet -€17,060
Net result drops to -€17,060, the lowest in the series; recovery starts the following year.
07-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
22-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
29-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Anderlecht · 1 establishment unit since 2005
Ground area
110 m²
Building footprint
84 m²
Volume, LiDAR
975 m³
Parcel 21306C0161/00D005, Brussels · tallest building 13.6 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
HELDOR CONSTRUCT
since 20052.147.667.102
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21306C0161/00D005 | Brussels | 110 m² | 1 · 84 m² | 13.6 m · 4 fl. |
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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 29,766 companies in this sector we hold annual accounts for 16,066. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded12-04-2005
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
43350Other building finishing work
43990Other specialised construction activities
71112Activities of interior architects
Contact
Phone
02/521.87.13Anderlecht
E-invoicing
Reachable via Peppol
Peppol ID
0208:0873130850
Also
9925:BE0873130850
Registered
21-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.