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IVS CONSTRUCT

Active Private limited companyfounded 2017active for 9 yearsClos du Vitrier 11, 1428 Braine-l'AlleudKBO/BCE: BE 0682.534.956
IVS CONSTRUCT
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Overview

Lifetime

7 annual accounts with figures on one time axis
peak €43,783 (2021)
€28,674▲ 281%
lowest -€6,434 (2021)
€22,717▲ €23,387
peak €35,937 (2025)
€35,937▲ 172%
€13,815▼ 16.6%
peak 1 FTE (2020)
-not published
Board1 name since 2024
1 directorGiuseppe SIGONA
Documentsfilings and deeds
30-10-20251 day before the deadline
2025micro format
Gross margin from €7,534 to €28,674Back to profit: €22,717Equity from €13,220 to €35,937Debts from €16,559 to €13,815Investments €4,289

Key points

from the 2025 annual accounts

Investments

€4,289 2.7 × depreciation
202220242025

Green is investment, beige is depreciation.

Liquidity

3.36 was 1.76 in 2024

Short-term debts fell from €16,559 to €13,815.

Filings

7 annual accounts 9 days past the deadline
deadline202020222024

2026 accounts not filed: deadline was 31-10-2026.

Checked score

87
Excellent
Financially stronger than 88% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).

About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 2.3% 01-2025: 2.3%● unchanged vs 12-2024 02-2025: 2.3%● unchanged vs 01-2025 03-2025: 2.3%● unchanged vs 02-2025 04-2025: 2.3%● unchanged vs 03-2025 05-2025: 2.2%▼ -0.1 percentage points vs 04-2025 06-2025: 2.3%▲ +0.1 percentage points vs 05-2025 07-2025: 2.4%▲ +0.1 percentage points vs 06-2025 08-2025: 2.6%▲ +0.2 percentage points vs 07-2025 09-2025: 2.6%● unchanged vs 08-2025 10-2025: 2.7%▲ +0.1 percentage points vs 09-2025highest value 11-2025: 0.3%▼ -2.4 percentage points vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025 02-2026: 0.2%▼ -0.1 percentage points vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026lowest value 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.2%● unchanged vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.3%▲ +0.1 percentage points vs 09-2026 11-2026: 0.5%▲ +0.2 percentage points vs 10-2026

Financial strength
Strong

97+28equity 72.2% of total assets
89+46short-term debt 27.8% · cash 43.4%
100+55return on assets 45.7%

Score breakdown

raises risk
Figures for financial year 2025 (filed on 30-10-2025)
Size: total assets €49,752
lowers risk
Liquidity: current ratio 3.36, cash €21,598
Equity €35,937 (72.2% of total assets)
Calculation

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 78% of them on solvency, 86% on liquidity, 92% on profitability and 95% on growth.

The bankruptcy probability was computed on 08-11-2026 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 very low class on 30-06-2025, 0.1% 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).

Comparable companies, two years later

In July 2024, 26,972 companies had the same profile as IVS CONSTRUCT has now. Each dot stands for 68 companies, two years later.

94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of IVS CONSTRUCT itself: 0.5% within 12 months.

Test of the method

The method was tested on the 497,447 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 IVS 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.

Credit verdict

Credit of up to €3,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 3.36 (1.76 in 2024), above the usual 1.5. Short-term debt is 27.8% and cash 43.4% of total assets. 27.8% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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.

Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Liquidity: current ratio 3.36, cash €21,598
NBB · annual accounts
raises risk · Figures for financial year 2025 (filed on 30-10-2025)
NBB · annual accounts
lowers risk · Equity €35,937 (72.2% of total assets)
NBB · annual accounts
raises risk · Size: total assets €49,752
Companies of this size fail more often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 day ahead of the deadline.
NBB · 7 filings
Deviation from the deadline
2026
not filed
2025
1 day early
2024
2 days early
2023
9 days early
2022
on the day
2021
2 days early
2020
3 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 6 accounts on average 2 days before 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.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

GS
Giuseppe SIGONA
Director
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0682534956
Company renamed from IVS CONSTRUCT STARTER to IVS CONSTRUCT Registered office moved to Lillois-Witterzée · New registered office: Clos du Vitrier 11, 1428 Lillois-Witterzée (Braine-l'Alleud) · Resignation: Giuseppe SIGONA (director) · General meeting of 18-12-2023 · Gazette deed
First establishment IVS CONSTRUCT STARTER, Clos de la Masserée 16, Braine-l'Alleud
Incorporation published on 06-10-2017 · Gazette deed
All 15 events

Comparable companies

same main activity, similar in size and age
Company
IVS CONSTRUCT Braine-l'Alleud €49,752 €28,674 72.2% -
Chauffage Georges Janssens Wavre €56,105 €29,231 40.4% -
L&R Technics Sint-Truiden €43,724 €30,450 73.3% -
DAQI Faimes €57,157 €26,554 38.3% -
FRED Electric Kontich €58,366 €29,684 83.0% -
DEGRYSE VINCENT ALGEMENE ELECTRICITEITSWERKEN Linter €54,937 €29,728 56.2% -
R&A Solutions Mechelen €55,230 €26,217 67.4% -

These companies have the same main activity as IVS CONSTRUCT: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €43,700 and €58,400, founded between 2016 and 2018.

Official details

Source: KBO
Status
Active since 04-10-2017Normal situation
Activity
General electrical installation workNACE 43211and 6 others
Establishment unit
2.268.469.2191420 Braine-l'Alleud, since 09-10-2017
Financial year end
31 March
Peppol
Reachable since 30-12-2025
Company details

Annual accounts to 31-03-2025

€28,674▲ 281%
≈ €130,000estimated
€22,717
€35,937▲ 172%
€49,752▲ 67.1%
Filing
Filed on 30-10-2025
Financials

Insights on IVS CONSTRUCT

IVS CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €21,345 in 2019 to €28,674 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 30-10-2025, 1 day before the deadline
€28,674
▲ 281%
€26,436
▲ 337%
€22,717
▲ €23,387
€32,590
▲ 159%
72.2%
▲ 27.8 percentage points
3.36
▲ 1.60

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €130,000. Estimated: probably between €94,000 and €210,000.

Balance sheet

balance sheet total €49,752 on 31-03-2025
What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

72.2%

Higher than 78% of 35,119 companies in 2025.

3.36

Higher than 75% of 34,493 companies in 2025.

45.7%

Higher than 94% of 34,694 companies in 2025.

IVS CONSTRUCT Middle half of the sector 80% of the sector Micro accounts in specialised construction (NACE 43)

Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half

Staff

Staff costs divided by the average number of full-time equivalents.

Blue and white collar

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019
Balance sheet: assets
20/58 49,75229,77926,70833,28623,66422,17711,788
20 0--3316629931,324
21/28 3,3476198441,5375132,1474,143
21 338469-----
22/27 2,85906941,3873631,9973,993
23 -0121242363--
24 2,85905721,145-1,9973,993
28 150150150150150150150
29/58 46,40529,16025,86431,41822,48919,0386,321
29 ------103
291 ------103
3 12,06511,9478,8997,1989,9441,2211,279
30/36 12,06511,9478,8997,1989,9441,2211,279
40/41 11,69616,5587,11413,2174,7036,2112,995
40 11,18614,8555,95812,5692,9442,0462,249
41 5111,7031,1566481,7594,164746
54/58 21,598-9,65810,7067,84211,6071,945
490/1 1,047655194297---
Balance sheet: equity and liabilities
10/49 49,75229,77926,70833,28623,66422,17711,788
10/15 35,93713,22013,89018,1516,99413,4285,977
13 300300300300300300-
130/1 -300--300--
130 ----300300-
1311 -300-----
133 300-300300---
14 35,63712,92013,59017,8516,69413,1285,977
17/49 13,81516,55912,81815,13516,6718,7495,811
42/48 13,81516,55912,65815,13516,6718,7495,811
43 -2,427-----
430/8 -2,427-----
44 7,8868,2367,6168,9491,2621,647-
440/4 7,8868,2367,6168,9491,2621,647-
45 ---1,19310,2321,163-
450/3 ---339409343-
454/9 ---8549,823820-
47/48 5,9295,8975,0424,9945,1765,9395,811
492/3 --160----
Income statement
9900 28,6747,534-1,76411,15543,78341,02121,345
62 ---2,86041,96229,51812,828
630 1,5618251,0241,0242,4492,3282,328
640/8 6776609322973,229149149
9901 26,4366,049-3,7216,974-3,8569,0276,041
75/76B 31196765,9035429719
75 3119676845429719
76B ---5,819---
65/66B 1,0531,9791,2161,71953633983
65 1,0531,9791,21646453633983
66B ---1,255---
9903 25,3874,189-4,26111,158-4,3378,9865,977
67/77 2,6694,859--2,0971,535-
9904 22,717-670-4,26111,158-6,4347,4515,977
9905 22,717-670-4,26111,158-6,4347,4515,977
Appropriation of the result
9906 35,63712,92013,59017,8516,69413,1285,977
14P 12,92013,59017,8516,694---
791/2 ---0---
691/2 ---0---
691 ---0---
6920 ---0---
6921 ---0---
Social balance sheet
9087 ----11-
Hours worked1013 ----1,8251,824-
Document PDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 8 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 30-10-2025.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-03-2025 micro format 30-10-2025 2025-00554275 PDF
31-03-2024 micro format 29-10-2024 2024-00523946 PDF
31-03-2023 micro format 22-10-2023 2023-00491183 PDF
31-03-2022 micro format 31-10-2022 2022-20482111 PDF
31-03-2021 micro format 29-10-2021 2021-75000035 PDF
31-03-2020 micro format 03-11-2020 2020-68500317 PDF
31-03-2019 micro format 16-09-2019 2019-64400214 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019
27,9976,874-2,6977,998-1,40711,3558,369
24,278155-3,23712,182-3,9869,7788,305
4,2896003311,7174843316,140
---1,0482,864-3,7649,662-
32,59012,60113,20616,2835,81910,289510
72.2%44.4%52.0%54.5%29.6%60.5%50.7%
3.361.762.042.081.352.181.09
2.491.041.341.600.752.040.87
0.381.250.920.832.380.650.97
63.2%-5.1%-30.7%61.5%-92.0%55.5%100.0%
45.7%-2.2%-16.0%33.5%-27.2%33.6%50.7%
26.603.47-2.2217.23---

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.

Investments

fixed assets acquired
Item31-03-202531-03-202431-03-202331-03-2022
Tangible fixed assets€4,289--€1,717
Intangible fixed assets-€600--
€1,561€825€1,024€1,024

Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)

Insights on IVS CONSTRUCT

The operating result for 2025 is nearly 4.4 times that of 2024 and the highest since 2019. It is the second rise in a row, after the fall in 2023.

Debt's share of the balance-sheet total falls from 55.6% to 27.8%. Equity is higher and debt is lower.

Board & ownership

Board

1 director, last change in 2024
Giuseppe SIGONA
Director (not named in the articles)
appointed by deed of 05-01-2024 term without a fixed end
earlier director, until 05-01-2024

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Giuseppe SIGONA
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
  • Giuseppe SIGONA
    • Director (not named in the articles), appointed by deed of 05-01-2024, still in office
    • Director, until 05-01-2024

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€1
Source
deed of 05-01-2024

Articles of association

deed of 05-01-2024 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 1 director
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Moitié cédant,moitié acquéreurs proportionnellement si plusieurs, choisi de commun accord”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Monday of August at 17:00

Network & group

No group

IVS CONSTRUCT has no parent and no holdings in its annual accounts. Giuseppe SIGONA is the only director. IVS CONSTRUCT shares no director with another company.

Timeline

Timeline

15 events since 2017
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0682534956
Annual accounts 2025 filed PDFmicro format · 1 day before the deadline
Back to profit net €22,717 The net result is €22,717, after 2 loss-making years.
2024
Annual accounts 2024 filed PDFmicro format · 2 days before the deadline
Company renamed from IVS CONSTRUCT STARTER to IVS CONSTRUCTRegistered office moved to Lillois-Witterzée · New registered office: Clos du Vitrier 11, 1428 Lillois-Witterzée (Braine-l'Alleud) · Resignation: Giuseppe SIGONA (director) · General meeting of 18-12-20236 points ▸
  • General meeting, 18-12-2023
  • Name change, IVS CONSTRUCT
  • Director resignation, Giuseppe SIGONA
  • Director appointment, Giuseppe SIGONA (director (not named in the articles))
  • Director discharge, Giuseppe SIGONA
  • Registered-office move, Clos du Vitrier 11, 1428 Lillois-Witterzée (Braine-l'Alleud)
  • The deed holds 4 more points.

Open the deed in the Belgian Official Gazette

2023
Annual accounts 2023 filed PDFmicro format · 9 days before the deadline
2022
Annual accounts 2022 filed PDFmicro format · on the deadline day
Back to profit net €11,158 The net result is €11,158, after one loss-making year.
2021
Annual accounts 2021 filed PDFmicro format · 2 days before the deadline
Weakest financial year net -€6,434 The net result drops to -€6,434, the lowest from 2019 to 2025. It recovers the following year.
2020
Annual accounts 2020 filed PDFmicro format · 3 days late
Liquidity doubles current ratio 2.18 The current ratio rises from 1.09 to 2.18.
2019
Annual accounts 2019 filed PDFmicro format · 45 days before the deadline
2017
First establishment IVS CONSTRUCT STARTER, Clos de la Masserée 16, Braine-l'Alleud
Incorporation PDFpublished on 06-10-2017

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 4 October 2017, IVS CONSTRUCT was incorporated.1 The name was changed to IVS CONSTRUCT in 2024.2 In 2024 the registered office moved to Lillois-Witterzée.2 Total assets went from €11,788 in 2019 to €49,752 in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 05-01-2024
  3. 3National Bank, annual accounts 2019 and 2025

Company details

Identity

Enterprise number
0682.534.956
VAT number
BE 0682.534.956
Peppol ID
0208:0682534956
Legal form
Private limited company
Status
Active, normal situation
Founded
04-10-2017
Financial year
ends on 31 March
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Monday of August at 17:00
deed of 05-01-2024 (in French)
Peppol
Reachable since 30-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
IVS CONSTRUCT in French
Former name
IVS CONSTRUCT STARTER until 18-12-2023 · deed of 05-01-2024
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 05-01-2024 (in French)

Activities

NACEBEL 2025
VAT activities
43211 General electrical installation work main activity
43310 Plastering work
43320 Joinery installation
43331 Floor and wall tiling
43332 Laying of wooden floor and wall coverings
43341 Painting of buildings
Social security (RSZ) activities
43350 Other building finishing work main activity
Codes under NACEBEL 2008
VAT activities
43211 Specialised construction activities main activity
43310 Plastering work
43320 Joinery installation
43331 Floor and wall tiling
43332 Laying of wooden floor and wall coverings
43341 Painting of buildings
Social security (RSZ) activities
43390 Specialised construction activities main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“L’entreprise générale pour la construction et la transformation,l’aménagement et la désaffectation d’immeubles bâtis ou à bâtir”
Text of the purpose

“L’entreprise générale pour la construction et la transformation,l’aménagement et la désaffectation d’immeubles bâtis ou à bâtir.”

deed of 05-01-2024 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Clos du Vitrier 11 registered office 1428 Braine-l'Alleud
IVS CONSTRUCT STARTER Clos de la Masserée 16, 1420 Braine-l'Alleud 09-10-2017 2.268.469.219

Buildings and parcels at the addresses

Ground area
890 m²
Buildings
195 m²
Volume, LiDAR
1,212 m³
Tallest building
9.8 m
Buildings to scale, each on its own parcel
108 m², 7.4 m 86 m², 9.8 m 108 m², 7.4 m 86 m², 9.8 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
25054A0001/00S011519 m² 1 · 108 m² 7.4 m · 2
25742H0705/00E000371 m² 1 · 86 m² 9.8 m · 2

Invoicing and payment

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 0682.534.956

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