HELDOR CONSTRUCT · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of HELDOR CONSTRUCT is 1.7% (moderate). The 2025 annual accounts show negative equity (€-2k) and a net result of €9k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 6% of 1087 sector peers (fiscal year 2025). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.7% Moderate

0%0,5%1,5%4%10%≥25%

Higher-failure-rate region +Higher-failure-rate sector +Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

2 signals · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 6% of 1087 sector peers (2025).

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

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.

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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2025, that is 31-01-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	04-02-2026	4 d late	2026-00033767
30-06-2024	31-01-2025	03-02-2025	3 d late	2025-00030164
30-06-2023	31-01-2024	28-01-2024	3 d early	2024-00023523
30-06-2022	31-01-2023	27-12-2022	35 d early	2022-20546635
30-06-2021	31-01-2022	04-01-2022	27 d early	2022-00100378
30-06-2020	31-01-2021	07-01-2021	24 d early	2021-00400372
30-06-2019	31-01-2020	06-01-2020	25 d early	2020-00200458
30-06-2018	31-01-2019	18-01-2019	13 d early	2019-01800136
30-06-2017	31-01-2018	22-12-2017	40 d early	2017-73000296
30-06-2016	31-01-2017	29-12-2016	33 d early	2016-72000342

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 2005, 21 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

Turnover€22k-17.3%

EBIT margin39.1%+18.1pp

Net result€9k+178.5%

Working capital€-3k+80.3%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 04-02-2026 with the NBB · fiscal year 2025 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~81% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 41, Construction of buildings · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-19.2%	42.1%	better than 6% of 1087 sector peers
Net result	€9k	€11k	better than 44% of 1087 sector peers
Equity	€-2k	€35k	better than 8% of 1089 sector peers
Gross operating margin	€11k	€30k	better than 25% of 1086 sector peers
Staff costs	€387	€17k	higher than 16% of 289 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P6

Stable position over 2020-2025 · n=495-3838

Net result P44

Improving position over 2020-2025 · n=493-3834

Equity P8

Stable position over 2020-2025 · n=498-3843

Gross operating margin P25

Improving position over 2020-2025 · n=494-3831

Describes the position versus peers, not a forecast.

Revenue

€22k

-17.3% 19-25

EBITDA

€11k

+39.7% 19-25

Net profit

€9k

+178.5% 19-25

Cash flow

€11k

+106.7% 19-25

Total assets

€12k

+47.4% 19-25

Equity

€-2k

+79.1% 19-25

Working capital

€-3k

+80.3% 19-25

Staff costs

€387

-64.1% 19-25

Show 11 other metrics

Debt

€14k

-25.4% 19-25

Debt ≤ 1y

€14k

-25.4% 19-25

Current ratio

0.81

+181.1% 19-25

Quick ratio

0.81

+181.1% 19-25

Solvency

-19.2%

+85.8% 19-25

Debt / equity

-6.20

-257.2% 19-25

ROE

-379.0%

-1234.2% 19-25

ROA

72.8%

+89.0% 19-25

Net margin

38.7%

+236.6% 19-25

EBITDA margin

48.9%

+68.9% 19-25

Interest coverage

119.20

+3829.2% 19-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	€22k
EBITDA	€11k
Net profit	€9k
Cash flow	€11k
Staff costs	€387
Income taxes	-
Dividends	-
Total assets	€12k
Equity	€-2k
Debt	€14k
of which ≤ 1y	€14k
of which > 1y	-
Working capital	€-3k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	0.81
Quick ratio	0.81
Working capital ratio	-22.4%
Solvency	-19.2%
Debt / equity	-6.20
Long-term debt ratio	-
Interest coverage	119.20
Gross margin	51.0%
Net margin	38.7%
ROA	72.8%
ROE	-379.0%
EBITDA margin	48.9%
Days sales outstanding	29d
Days payable outstanding	13d
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €381 · 3.2% Current assets €12k · 96.8%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€12k
Fixed assets	21/28	€381
Tangible fixed assets	22/27	€381
Current assets	29/58	€12k
Amounts receivable within one year	40/41	€2k
Cash & bank	54/58	€10k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€12k
Equity	10/15	€-2k
Contributions / capital	10/11	€6k
Reserves	13	€4k
Accumulated profits (losses)	14	€-12k
Amounts payable	17/49	€14k
Amounts payable within one year	42/48	€14k
Trade debts payable within one year	44	€382
Income statement
Turnover	70	€22k
Gross operating margin	9900	€11k
Operating result	9901	€9k
Financial charges	65	€92
Result before taxes	9903	€9k
Net result for the period	9904	€9k
Result to be appropriated	9905	€9k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

29 / 100 Weak

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

3 companies at this address See who is registered here

Establishment units

1 location

HELDOR CONSTRUCT

Dokter Zamenhoflaan 5, 1070 Anderlechthet optrekken van de ruwbouw van individuele huizen

since 20052.147.667.102

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area110 m²

Buildings1

Building footprint84 m²

Volume (LiDAR)975 m³

Tallest building13.6 m · ±4 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21306C0161/00D005	Brussels	110 m²	1 · 84 m²	13.6 m · 4 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 2 acts read

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.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Financial profile

5 of 5 axes measured

55 / 100

Mixed profile: strong on stability, weaker on health.

All 5 axes are computed from data Checked has read.

Health 29

Profitability 67

Solvency 40

Growth 38

Stability 100

Credit advice

verdict per customer and amount

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We hold annual accounts for 5,400 of the 29,581 companies in this sector. 7 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Algemene bouw van residentiële gebouwen41001Algemene bouw van residentiële gebouwen41201Optrekken van andere residentiële gebouwen en van kantoorgebouwen45212Overige werkzaamheden in verband met de afwerking van gebouwen43350Overige werkzaamheden in verband met de afwerking van gebouwen43390Overige gespecialiseerde bouwactiviteiten, neg43990Overige gespecialiseerde bouwwerkzaamheden43999Overige gespecialiseerde werkzaamheden in de bouw45250Overige werkzaamheden in verband met de afwerking van gebouwen45450Interieurarchitecten71112Activiteiten van interieurarchitecten71112

Primary activity highlighted.

Names & trade names

Legal nameFR

HELDOR CONSTRUCT

Registered office

Dokter Zamenhoflaan 5

1070 Anderlecht, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.