ICF CONSTRUCTION
ActiveSummary
ICF CONSTRUCTION has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5,170 and a net result of €2,965. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 30% of 2202 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+16
Solvency45▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Four 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
20.3%
Return on assets
11.7%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-02-2026, 9 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
9 d late
2024
20 d late
2023
16 d late
2022
28 d early
2021
35 d early
2020
2 d early
2019
32 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 7 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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€5,170▲ 134%
2024 · €2,205
Total assets
€25,438▲ 22.5%
2024 · €20,771
Net result
€2,965
2024 · -€315
Working capital
€12,419▲ 91.1%
2024 · €6,498
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
Line20212022202320242025
Operating result€85,009€28,807▼ 66.1%€9,474▼ 67.1%€450▼ 95.3%€5,469▲ 1,115%
Net result€78,049€25,866▼ 66.9%€8,798▼ 66.0%-€315€2,965
Equity-€44,544▲ 63.7%-€18,678▲ 58.1%-€9,880▲ 47.1%€2,205€5,170▲ 134%
Total assets€199,839▼ 29.1%€25,110▼ 87.4%€18,611▼ 25.9%€20,771▲ 11.6%€25,438▲ 22.5%
Debt€244,383▼ 39.6%€43,788▼ 82.1%€28,491▼ 34.9%€18,566▼ 34.8%€20,268▲ 9.2%
Working capital-€28,369-€10,696▲ 62.3%-€7,092▲ 33.7%€6,498€12,419▲ 91.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,115% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €25,438
Fixed assets
€3,646 ▼ 36.1%
Current assets
€21,792 ▲ 44.7%
Equity and liabilities €25,438
Equity
€5,170 ▲ 134%
Debt
€20,268 ▲ 9.2%
Debt's share of the balance-sheet total falls from 89.4% to 79.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€7,530▲
2024 · €2,705
Cash flow
€5,026▲
2024 · €1,940
Current ratio
2.32▲
2024 · 1.76
Debt to equity
3.92▼
2024 · 8.42
ROE
57.4%▲
2024 · -14.3%
ROA
11.7%▲
2024 · -1.5%
Interest coverage
15.34▲
2024 · 6.41
Debt ≤ 1 year
€9,373▲
2024 · €8,566
Debt > 1 year
€10,000=
2024 · €10,000
Income taxes
€2,013▲
2024 · €343
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,034 | €9,833 | €2,298 | €2,255 | €2,061 | ▼ 8.6% |
| Other operating charges640/8 | - | €193 | €54 | €27 | €53 | ▲ 96.3% |
| Gross operating margin9900 | €102,043 | €38,833 | €11,826 | €2,732 | €7,583 | ▲ 178% |
| Operating profit (loss)9901 | €85,009 | €28,807 | €9,474 | €450 | €5,469 | ▲ 1,115% |
| Financial income75/76B | - | €6 | - | - | - | - |
| Recurring financial income75 | - | €6 | - | - | - | - |
| Financial charges65/66B | - | €2,795 | €518 | €422 | €491 | ▲ 16.4% |
| Recurring financial charges65 | €6,803 | €2,795 | €518 | €422 | €491 | ▲ 16.4% |
| Profit (loss) for the period before taxes9903 | €78,206 | €26,018 | €8,956 | €28 | €4,978 | ▲ 17,679% |
| Income taxes67/77 | €157 | €152 | €158 | €343 | €2,013 | ▲ 487% |
| Profit (loss) for the period9904 | €78,049 | €25,866 | €8,798 | -€315 | €2,965 | ▲ 1,041% |
| Profit (loss) for the period to be appropriated9905 | €78,049 | €25,866 | €8,798 | -€315 | €2,965 | ▲ 1,041% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €199,839 | €25,110 | €18,611 | €20,771 | €25,438 | ▲ 22.5% |
| Fixed assets21/28 | €10,318 | €8,262 | €7,962 | €5,707 | €3,646 | ▼ 36.1% |
| Tangible fixed assets22/27 | €10,318 | €8,262 | €7,962 | €5,707 | €3,646 | ▼ 36.1% |
| Plant, machinery and equipment23 | - | €7,556 | €7,556 | €5,601 | €3,646 | ▼ 34.9% |
| Furniture and vehicles24 | - | €706 | €406 | €106 | - | - |
| Current assets29/58 | €189,521 | €16,848 | €10,649 | €15,064 | €21,792 | ▲ 44.7% |
| Amounts receivable within one year40/41 | €6,514 | €182 | €21 | €13,209 | €15,132 | ▲ 14.6% |
| Trade receivables40 | - | €182 | €21 | - | €1,029 | - |
| Other amounts receivable41 | - | - | - | €13,209 | €14,103 | ▲ 6.8% |
| Cash at bank and in hand54/58 | €181,756 | €15,416 | €9,670 | €844 | €5,765 | ▲ 583% |
| Deferred charges and accrued income490/1 | - | €1,250 | €958 | €1,011 | €895 | ▼ 11.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €199,839 | €25,110 | €18,611 | €20,771 | €25,438 | ▲ 22.5% |
| Equity10/15 | -€44,544 | -€18,678 | -€9,880 | €2,205 | €5,170 | ▲ 134% |
| Contributions10/11 | - | €6,200 | €6,200 | €18,600 | €18,600 | = |
| Outside capital11 | - | - | - | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | €18,600 | €18,600 | = |
| Reserves13 | €342 | €342 | €342 | €342 | €342 | = |
| Non-distributable reserves130/1 | - | €342 | €342 | - | - | - |
| Reserves not available under the articles1311 | - | €342 | €342 | - | - | - |
| Distributable reserves133 | - | - | - | €342 | €342 | = |
| Profit (loss) carried forward14 | -€51,086 | -€25,220 | -€16,422 | -€16,737 | -€13,772 | ▲ 17.7% |
| Amounts payable17/49 | €244,383 | €43,788 | €28,491 | €18,566 | €20,268 | ▲ 9.2% |
| Amounts payable after more than one year17 | €26,477 | €16,233 | €10,000 | €10,000 | €10,000 | = |
| Financial debts170/4 | - | €16,233 | €10,000 | €10,000 | €10,000 | = |
| Amounts payable within one year42/48 | €217,890 | €27,544 | €17,741 | €8,566 | €9,373 | ▲ 9.4% |
| Current portion of amounts payable after more than one year42 | - | €10,584 | €6,233 | - | - | - |
| Trade debts44 | €1,174 | €2,932 | €750 | €898 | €1,765 | ▲ 96.5% |
| Suppliers440/4 | - | €2,932 | €750 | €898 | €1,765 | ▲ 96.5% |
| Taxes, remuneration and social security45 | - | €11,321 | €7,974 | €3,768 | €3,970 | ▲ 5.4% |
| Taxes450/3 | - | €3,904 | €1,904 | €399 | €2,101 | ▲ 427% |
| Remuneration and social security454/9 | - | €7,417 | €6,070 | €3,369 | €1,869 | ▼ 44.5% |
| Other amounts payable47/48 | - | €2,707 | €2,784 | €3,900 | €3,638 | ▼ 6.7% |
| Accrued charges and deferred income492/3 | - | €11 | €750 | - | €895 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78,049 | €25,866 | €8,798 | -€315 | €2,965 | ▲ 1,041% |
| + Depreciation and write-downs630 | €17,034 | €9,833 | €2,298 | €2,255 | €2,061 | ▼ 8.6% |
| Operating cash flow (approximation) | €95,083 | €35,699 | €11,096 | €1,940 | €5,026 | ▲ 159% |
| Investment in fixed assets (approximation) | - | -€7,777 | -€1,998 | €0 | €0 | - |
| Change in cash | - | -€166,340 | -€5,746 | -€8,826 | €4,921 | ▲ 156% |
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
09-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 9 days late
2025
30-06
Financial
Back to profitnet €2,965
Net result €2,965 after one loss-making year.
20-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 20 days late
2024
30-06
Financial
Liquidity triplescurrent ratio 1.76
Current ratio from 0.60 to 1.76; short-term debt falls from €17,741 to €8,566.
16-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 16 days late
2023
03-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
27-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Back to profitnet €78,049
Net result €78,049 after 2 loss-making years.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
17-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 118 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, Bonheiden · 1 establishment unit since 2013
Ground area
144 m²
Building footprint
273 m²
Volume, LiDAR
907 m³
Parcel 12031B0887/00Y000, Flanders · tallest building 10.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
ICF CONSTRUCTION
since 20132.231.001.582
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12031B0887/00Y000 | Flanders | 144 m² | 1 · 273 m² | 10.2 m · 1 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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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 6,580 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
Founded17-12-2013
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43240Other construction installation
43320Joinery installation
43331Floor and wall tiling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0543706378
Also
9925:BE0543706378
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.