Turnover
The accounts state no turnover.
The accounts state no turnover.
Debts rose by €118,102 in 2025.
Short-term debts rose from €38,742 to €156,844.
2026 accounts not filed: deadline was 31-10-2026.
More equity than 84% of companies in specialised construction. Sector median €57,716 · 35,168 companies.
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
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, micro). It does better than 61% of them on solvency, 40% on liquidity, 55% on profitability and 62% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-03-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
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).
In July 2024, 26,972 companies had the same profile as Ince Construct has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Ince Construct itself: 1.7% within 12 months.
The method was tested on the 497,448 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 26,972 companies, not a prediction for Ince 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.
Liquidity is ample, with a current ratio of 2.06 (4.58 in 2024), above the usual 1.5. Short-term debt is 43.9% and cash 15.9% of total assets. 43.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 106 days after 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.
| Company | ||||
|---|---|---|---|---|
| Ince Construct Hamme (Vl.) | €356,981 | €106,902 | 56.1% | - |
| WVH Grondwerken Hamme (Vl.) | €378,861 | €98,454 | 18.3% | - |
| BM-Grondwerken bvba Assenede | €329,864 | €111,408 | 30.3% | - |
| Business for Business Services Sint-Lievens-Houtem | €320,386 | €126,839 | 44.0% | 0.9 |
| MOORS DRIES Lummen | €332,766 | €113,260 | 23.6% | - |
| Grondwerken Jo Claes Balen | €352,746 | €94,163 | 34.6% | - |
| LC TERRASSEMENT Péruwelz | €324,069 | €117,799 | 41.3% | - |
These companies have the same main activity as Ince Construct: site preparation (NACE 43120). They are comparable in size and age: total assets between €320,000 and €379,000, founded between 2018 and 2019.
Ince Construct files the micro format. That format states no turnover. The gross margin fell from €124,522 in 2021 to €106,902 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €350,000. Estimated: probably between €270,000 and €490,000.
Higher than 61% of 35,156 companies in 2025.
Higher than 56% of 34,529 companies in 2025.
Higher than 51% of 34,730 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
356,981 | 212,503 | 137,269 | 139,309 | 158,127 | |
21/28 |
34,627 | 35,199 | 23,579 | 33,888 | 29,565 | |
22/27 |
34,627 | 28,149 | 23,579 | 33,788 | 29,465 | |
22 |
10,528 | 11,485 | - | - | - | |
23 |
5,943 | 9,752 | 10,979 | 14,322 | 6,243 | |
24 |
18,155 | 1,873 | 2,520 | 4,347 | 3,063 | |
25 |
- | 5,040 | 10,080 | 15,119 | - | |
28 |
- | 7,050 | - | 100 | 100 | |
29/58 |
322,354 | 177,304 | 113,690 | 105,421 | 128,562 | |
40/41 |
264,154 | 140,411 | 102,403 | 89,584 | 53,285 | |
40 |
200,582 | 123,740 | 87,700 | 69,653 | 48,117 | |
41 |
63,571 | 16,672 | 14,703 | 19,931 | 5,168 | |
54/58 |
56,817 | 36,892 | 10,366 | 15,750 | 74,887 | |
490/1 |
1,384 | - | 922 | 87 | 390 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
356,981 | 212,503 | 137,269 | 139,309 | 158,127 | |
10/15 |
200,136 | 173,761 | 107,402 | 115,148 | 94,319 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
10 |
- | - | - | 10,000 | - | |
100 |
- | - | - | 10,000 | 10,000 | |
11 |
- | - | 10,000 | - | - | |
1109/19 |
- | - | 10,000 | - | - | |
13 |
131,148 | 105,148 | 105,148 | 105,148 | 84,319 | |
130/1 |
- | - | 1,000 | 1,000 | 1,000 | |
130 |
- | - | 1,000 | 1,000 | 1,000 | |
133 |
131,148 | 105,148 | 104,148 | 104,148 | 83,319 | |
14 |
58,989 | 58,613 | -7,746 | - | - | |
17/49 |
156,844 | 38,742 | 29,867 | 24,161 | 63,808 | |
17 |
- | - | 6,800 | 11,228 | 15,537 | |
170/4 |
- | - | 6,800 | 11,228 | 15,537 | |
42/48 |
156,844 | 38,742 | 23,067 | 12,933 | 48,271 | |
42 |
6,083 | 6,083 | 4,428 | 5,880 | 4,192 | |
44 |
105,594 | 10,446 | 6,872 | 4,661 | 8,557 | |
440/4 |
105,594 | 10,446 | 6,872 | 4,661 | 8,557 | |
45 |
45,168 | 22,213 | 5,000 | 2,083 | 33,407 | |
450/3 |
44,178 | 19,082 | - | 2,083 | 33,407 | |
454/9 |
990 | 3,131 | 5,000 | - | - | |
47/48 |
- | - | 6,767 | 309 | 2,115 | |
| Income statement | ||||||
9900 |
106,902 | 124,674 | 8,097 | 40,724 | 124,522 | |
62 |
42,462 | 21,209 | - | - | - | |
630 |
12,952 | 10,834 | 11,392 | 10,026 | 6,311 | |
640/8 |
3,053 | 459 | 3,131 | 971 | 1,486 | |
9901 |
48,435 | 92,172 | -6,426 | 29,727 | 116,725 | |
75/76B |
425 | - | 0 | 3 | - | |
75 |
425 | - | 0 | 3 | - | |
65/66B |
764 | 2,548 | 1,220 | 560 | 1,499 | |
65 |
764 | 2,548 | 1,220 | 560 | 1,499 | |
9903 |
48,096 | 89,625 | -7,646 | 29,170 | 115,226 | |
67/77 |
21,721 | 23,266 | 100 | 8,341 | 30,907 | |
9904 |
26,375 | 66,359 | -7,746 | 20,829 | 84,319 | |
9905 |
26,375 | 66,359 | -7,746 | 20,829 | 84,319 | |
| Appropriation of the result | ||||||
9906 |
84,989 | 58,613 | -7,746 | 20,829 | 84,319 | |
14P |
58,613 | -7,746 | - | - | - | |
691/2 |
26,000 | - | - | 20,829 | 84,319 | |
6920 |
- | - | - | - | 1,000 | |
6921 |
26,000 | - | - | 20,829 | 83,319 | |
| Document | ||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 30-01-2026.
2025 annual accounts filed 91 days after the deadline. Filed on 30 January 2026, deadline 31 October 2025 (7 months after the close on 31 March 2025, Companies Code art. 3:10). Source: NBB, 2026-00023069.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 30-01-2026 | 2026-00023069 | |
| 31-03-2024 | micro format | 15-12-2025 | 2025-00583704 | |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00499241 | |
| 31-03-2022 | abbreviated format | 02-11-2022 | 2022-20482148 | |
| 31-03-2021 | abbreviated format | 25-11-2021 | 2021-78300037 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 61,388 | 103,006 | 4,966 | 39,753 | 123,036 | ||
| 39,328 | 77,193 | 3,646 | 30,855 | 90,630 | ||
| 19,202 | 15,404 | 1,183 | 14,349 | 35,876 | ||
| 19,924 | 26,526 | -5,384 | -59,137 | - | ||
| 165,510 | 138,562 | 90,624 | 92,488 | 80,291 | ||
| 56.1% | 81.8% | 78.2% | 82.7% | 59.6% | ||
| 2.06 | 4.58 | 4.93 | 8.15 | 2.66 | ||
| 0.78 | 0.22 | 0.28 | 0.21 | 0.68 | ||
| 13.2% | 38.2% | -7.2% | 18.1% | 89.4% | ||
| 7.4% | 31.2% | -5.6% | 15.0% | 53.3% | ||
| 80.33 | 40.43 | 4.07 | 70.99 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-03-2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €19,202 | €15,404 | €1,183 | €14,349 |
| €12,952 | €10,834 | €11,392 | €10,026 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 47% lower than in 2024.
Debt's share of the balance-sheet total rises from 18.2% to 43.9%. Equity and debt are higher.
Ince Construct has no parent and no holdings in its annual accounts. INCE Muhammed is the only director. Ince Construct shares no director with another company.
| WIJKCOMITE KAALDRIES
registered office since 24-04-2013 |
founded in 2013 0527.937.445 |
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Ince Construct was incorporated on 5 June 2019 as a private limited company by one natural person, with a starting capital of €10,000.12 The registered office was moved to Hamme in 2023.3 Since 2019, INCE Muhammed has served as director.4 Total assets rose from €158,127 in 2021 to €356,981 in 2025.5
| Establishment | Since | Unit number |
|---|---|---|
| Moerheide 196 registered office 9220 Hamme (Vl.) | ||
| Plezantstraat 8 9220 Hamme (Vl.) | 05-06-2019 | 2.289.947.591 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 42452D0316/00E000 | 4,390 m² | 1 · 223 m² | 9.5 m · 2 |
| 42452B0570/00F000 | 512 m² | 1 · 96 m² | 10.5 m · 3 |
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 0727.798.225
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