Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Of this, €2.2m falls due within a year.
Lower net result than 95% of companies in construction of buildings. Sector median €19,022 · 2,812 companies.
The dashed line is the sector median: 0.4% across 911 companies (NACE 41, small).
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 41, small). It does better than 4% of them on solvency, 17% on liquidity and 10% on profitability.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
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, 1,251 companies had the same profile as JHL Construct has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of JHL Construct itself is higher: 2.2% within 12 months. It rests on far more data about JHL Construct than the profile alone.
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.
| 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 1,251 companies, not a prediction for JHL 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 insufficient, with a current ratio of 0.95, below 1. Short-term debt is 105.5% and cash 13.9% of total assets. Equity is negative.
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.
| Company | ||||
|---|---|---|---|---|
| JHL Construct Waregem | €2.0m | -€62,594 | -5.8% | - |
| P-Park Invest Ypres | €2.7m | -€42,521 | 41.9% | - |
| A.VERELST BOX 2 BOUW Hasselt | €3.0m | -€3,010 | 0.1% | - |
| Warmtenet Antwerpen Oost Turnhout | €4.2m | -€1,961 | -0.3% | 0 |
| ClaraT Living Antwerp | €2.9m | -€184,580 | -11.6% | - |
| Renovast Maldegem | €0.5m | -€3,050 | 3.6% | - |
| A.VERELST BOX 3 BOUW Hasselt | €9.4m | -€2,859 | 0.0% | - |
These companies have the same main activity as JHL Construct: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €461,000 and €9.4m, founded between 2021 and 2025.
The computed 12-month bankruptcy probability of JHL Construct is 2.2% (moderate). The 2025 annual accounts show negative equity (-€117,994) and a net result of -€167,994.
Its solvency ranks better than 9% of 2,818 sector peers (NACE 41, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Higher than 9% of 2,818 companies in 2025.
Higher than 19% of 2,746 companies in 2025.
Higher than 12% of 2,782 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
2.0m | |
29/58 |
2.0m | |
3 |
1.8m | |
30/36 |
1.8m | |
40/41 |
3,825 | |
41 |
3,825 | |
54/58 |
284,923 | |
| Balance sheet: equity and liabilities | ||
10/49 |
2.0m | |
10/15 |
-117,994 | |
10/11 |
50,000 | |
14 |
-167,994 | |
17/49 |
2.2m | |
42/48 |
2.2m | |
44 |
203,886 | |
440/4 |
203,886 | |
47/48 |
2.0m | |
492/3 |
6,150 | |
| Income statement | ||
9900 |
-62,594 | |
640/8 |
1,914 | |
9901 |
-64,508 | |
65/66B |
103,486 | |
65 |
103,486 | |
9903 |
-167,994 | |
9904 |
-167,994 | |
9905 |
-167,994 | |
| Appropriation of the result | ||
9906 |
-167,994 | |
| Document | ||
The notes to these accounts have 1 item. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 03-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 03-07-2026 | 2026-00261291 |
| Line | Trend | 2025 |
|---|---|---|
| -111,844 | ||
| -5.8% | ||
| 0.95 | ||
| 0.13 | ||
| -8.2% |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
Equity is negative. Debt (€2.2m) exceeds the balance-sheet total (€2.0m).
Source: parent in its own accounts, lists of holdings in the owners' accounts
| ANTEMM REAL ESTATE
registered office since 03-04-1992 · founded in 1992 |
total assets €99.0m (2025) 0447.132.188 |
| ORONA
registered office since 13-05-1977 · founded in 1977 |
329 FTE (2025) 0417.162.059 |
| GROEP HUYZENTRUYT
registered office since 30-09-1983 · founded in 1983 · group ANTEMM REAL ESTATE |
6.7 FTE (2025) 0424.720.537 |
| GH INTERNATIONAL INVESTMENTS 2
registered office since 24-11-2021 · founded in 2021 |
total assets €44.8m (2025) 0777.642.367 |
| GH INTERNATIONAL INVESTMENTS
registered office since 15-07-2020 · founded in 2020 · group ANTEMM REAL ESTATE |
total assets €31.8m (2025) 0750.714.969 |
| HDI HUYZENTRUYT DEVELOPMENT & INVESTMENTS
registered office since 13-01-1999 · founded in 1999 · group ANTEMM REAL ESTATE |
turnover €7.3m (2025) 0465.190.125 |
| ALTEBRA WAREGEM
registered office since 01-02-2024 · founded in 2024 · group Altenova |
30 FTE (2025) 1005.498.931 |
| GROEP HUYZENTRUYT INVEST 2
registered office since 17-09-2021 · founded in 2021 · group ANTEMM REAL ESTATE |
total assets €8.4m (2025) 0773.988.041 |
| GH International Investments Gdansk
registered office since 27-06-2024 · founded in 2024 |
total assets €7.5m (2025) 1010.862.239 |
| Huyzentruyt Development & Investments 3
registered office since 20-10-2023 · founded in 2023 |
total assets €7.2m (2025) 1001.465.315 |
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Textielstraat 34 registered office 8790 Waregem | ||
| Wagenaarstraat 33 8791 Waregem | 12-06-2024 | 2.360.781.743 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34006B0596/00C000 | 1.7 ha | 1 · 1.0 ha | 12.2 m · 3 |
| 34453F0322/00M000 | 1.7 ha | - | - |
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 1010.293.602
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