KADI CONSTRUCT
ActiveSummary
KADI CONSTRUCT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €42k and a net result of €15k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 36% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+19
Solvency60▲+15
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 0.98 in 2024; short-term debt: 65.1% and cash: 47.7% of total assets), and 65.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.6%
Return on assets
12.1%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €42k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-07-2026, 24 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
24 d early
2024
28 d late
2023
21 d late
2022
61 d late
2021
93 d late
2020
97 d late
2019
61 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€319k
EBIT margin
0.7%
Net result
€15k
2024 · €-4k
2019: €-13klowest in 7 years
2020: €27k▲ +315% vs 2019highest in 7 years
2021: €72▼ -99.7% vs 2020
2022: €1k▲ +1371% vs 2021
2023: €20k▲ +1796% vs 2022
2024: €-4k▼ -118% vs 2023
2025: €15k▲ +510% vs 2024
2019 → 2025
Working capital
€18k
2024 · €-2k
2019: €-21klowest in 7 years
2020: €7k▲ +135% vs 2019
2021: €6k▼ -14.8% vs 2020
2022: €-2k▼ -126% vs 2021
2023: €15k▲ +1022% vs 2022
2024: €-2k▼ -111% vs 2023
2025: €18k▲ +1211% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€319k
Equity€10k-€11k▲ 10.9%€31k▲ 187%€27k▼ 11.6%€42k▲ 54.0%
2021: €10klowest in 5 years
2022: €11k▲ +10.9% vs 2021
2023: €31k▲ +187% vs 2022
2024: €27k▼ -11.6% vs 2023
2025: €42k▲ +54.0% vs 2024highest in 5 years
Operating result€2k-€2k▲ 10.1%€29k▲ 1,248%€6k▼ 78.5%€22k▲ 256%
2021: €2klowest in 5 years
2022: €2k▲ +10.1% vs 2021
2023: €29k▲ +1248% vs 2022highest in 5 years
2024: €6k▼ -78.5% vs 2023
2025: €22k▲ +256% vs 2024
Net result€72-€1k▲ 1,371%€20k▲ 1,796%€-4k€15k
2021: €72
2022: €1k▲ +1371% vs 2021
2023: €20k▲ +1796% vs 2022highest in 5 years
2024: €-4k▼ -118% vs 2023lowest in 5 years
2025: €15k▲ +510% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 256% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €121k
Fixed assets
€24k ▼ 24.5%
Current assets
€97k ▼ 5.5%
Equity and liabilities €121k
Equity
€42k ▲ 54.0%
Debt
€79k ▼ 26.2%
Debt's share of the balance-sheet total falls from 79.8% to 65.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€30k▲
2024 · €14k
Cash flow
€23k▲
2024 · €4k
Current ratio
1.23▲
2024 · 0.98
Quick ratio
0.90▲
2024 · 0.87
Debt to equity
1.89▼
2024 · 3.95
ROE
35.0%▲
2024 · -13.2%
ROA
12.1%▲
2024 · -2.7%
Interest coverage
53.49▲
2024 · 19.72
Debt ≤ 1 year
€79k▼
2024 · €104k
Debt > 1 year
€459▼
2024 · €3k
Income taxes
€7k▼
2024 · €9k
Staff costs
€172k▲
2024 · €132k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€135k€121k▼
Formation expenses20€531€424▼
Fixed assets21/28€32k€24k▼
Tangible fixed assets22/27€32k€24k▼
Plant, machinery and equipment23€3k€5k▲
Furniture and vehicles24€29k€19k▼
Current assets29/58€102k€97k▼
Stocks and contracts in progress3€12k€26k▲
Stocks30/36€12k€26k▲
Amounts receivable within one year40/41€67k€7k▼
Trade receivables40€59k€5k▼
Other amounts receivable41€8k€2k▼
Cash at bank and in hand54/58€23k€58k▲
Deferred charges and accrued income490/1€600€6k▲
Equity and liabilities
Total equity and liabilities10/49€135k€121k▼
Equity10/15€27k€42k▲
Contributions10/11€1€1=
Reserves13-€14k
Distributable reserves133-€14k
Profit (loss) carried forward14€27k€28k▲
Amounts payable17/49€108k€79k▼
Amounts payable after more than one year17€3k€459▼
Financial debts170/4€3k€459▼
Amounts payable within one year42/48€104k€79k▼
Current portion of amounts payable after more than one year42€3k€3k=
Trade debts44€32k€12k▼
Suppliers440/4€32k€12k▼
Taxes, remuneration and social security45€19k€14k▼
Taxes450/3€10k€13k▲
Remuneration and social security454/9€9k€1k▼
Other amounts payable47/48€51k€50k▼
Accrued charges and deferred income492/3€500-
Income statement
Code20242025
Remuneration, social security and pensions62€132k€172k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k▲
Other operating charges640/8€3k€4k▲
Non-recurring operating charges66A-€2k
Gross operating margin9900€149k€208k▲
Operating profit (loss)9901€6k€22k▲
Financial income75/76B€212€187▼
Recurring financial income75€212€187▼
Financial charges65/66B€721€562▼
Recurring financial charges65€721€562▼
Profit (loss) for the period before taxes9903€6k€21k▲
Income taxes67/77€9k€7k▼
Profit (loss) for the period9904€-4k€15k▲
Profit (loss) for the period to be appropriated9905€-4k€15k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€42k▲
Profit (loss) brought forward from the previous period14P€31k€27k▼
Transfer to equity691/2-€14k
To other reserves6921-€14k
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €319k | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €255k | - | - | - | - |
| Remuneration, social security and pensions62 | €11k | €57k | €66k | €132k | €172k | ▲ 30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €4k | €4k | €8k | €8k | ▲ 1.6% |
| Other operating charges640/8 | €2k | €2k | €1k | €3k | €4k | ▲ 45.0% |
| Non-recurring operating charges66A | - | - | - | - | €2k | - |
| Gross operating margin9900 | €17k | €65k | €100k | €149k | €208k | ▲ 39.9% |
| Operating profit (loss)9901 | €2k | €2k | €29k | €6k | €22k | ▲ 256% |
| Financial income75/76B | - | €1 | €45 | €212 | €187 | ▼ 11.5% |
| Recurring financial income75 | - | €1 | €45 | €212 | €187 | ▼ 11.5% |
| Financial charges65/66B | €27 | €182 | €712 | €721 | €562 | ▼ 22.1% |
| Recurring financial charges65 | €27 | €182 | €712 | €721 | €562 | ▼ 22.1% |
| Profit (loss) for the period before taxes9903 | €2k | €2k | €28k | €6k | €21k | ▲ 281% |
| Income taxes67/77 | €2k | €879 | €8k | €9k | €7k | ▼ 26.6% |
| Profit (loss) for the period9904 | €72 | €1k | €20k | €-4k | €15k | ▲ 510% |
| Profit (loss) for the period to be appropriated9905 | €72 | €1k | €20k | €-4k | €15k | ▲ 510% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €238k | €246k | €278k | €135k | €121k | ▼ 10.0% |
| Formation expenses20 | €849 | €743 | €637 | €531 | €424 | ▼ 20.0% |
| Fixed assets21/28 | €3k | €12k | €20k | €32k | €24k | ▼ 24.5% |
| Tangible fixed assets22/27 | €3k | €11k | €20k | €32k | €24k | ▼ 24.5% |
| Plant, machinery and equipment23 | €832 | €554 | €277 | €3k | €5k | ▲ 54.3% |
| Furniture and vehicles24 | €2k | €11k | €20k | €29k | €19k | ▼ 33.9% |
| Financial fixed assets28 | €120 | €120 | €120 | - | - | - |
| Current assets29/58 | €235k | €234k | €257k | €102k | €97k | ▼ 5.5% |
| Stocks and contracts in progress3 | €5k | €6k | €8k | €12k | €26k | ▲ 114% |
| Stocks30/36 | €5k | €6k | €8k | €12k | €26k | ▲ 114% |
| Amounts receivable within one year40/41 | €206k | €190k | €206k | €67k | €7k | ▼ 89.4% |
| Trade receivables40 | €183k | €190k | €206k | €59k | €5k | ▼ 92.1% |
| Other amounts receivable41 | €24k | - | - | €8k | €2k | ▼ 68.6% |
| Cash at bank and in hand54/58 | €21k | €38k | €43k | €23k | €58k | ▲ 151% |
| Deferred charges and accrued income490/1 | €2k | - | - | €600 | €6k | ▲ 895% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €238k | €246k | €278k | €135k | €121k | ▼ 10.0% |
| Equity10/15 | €10k | €11k | €31k | €27k | €42k | ▲ 54.0% |
| Contributions10/11 | €1 | €1 | €1 | €1 | €1 | = |
| Capital10 | €1 | €1 | €1 | - | - | - |
| Issued capital100 | €1 | €1 | €1 | - | - | - |
| Reserves13 | - | - | - | - | €14k | - |
| Distributable reserves133 | - | - | - | - | €14k | - |
| Profit (loss) carried forward14 | €10k | €11k | €31k | €27k | €28k | ▲ 2.6% |
| Amounts payable17/49 | €228k | €235k | €247k | €108k | €79k | ▼ 26.2% |
| Amounts payable after more than one year17 | - | - | €5k | €3k | €459 | ▼ 85.7% |
| Financial debts170/4 | - | - | €5k | €3k | €459 | ▼ 85.7% |
| Amounts payable within one year42/48 | €228k | €235k | €242k | €104k | €79k | ▼ 24.0% |
| Current portion of amounts payable after more than one year42 | - | - | €3k | €3k | €3k | = |
| Trade debts44 | €175k | €168k | €170k | €32k | €12k | ▼ 62.5% |
| Suppliers440/4 | €175k | €168k | €170k | €32k | €12k | ▼ 62.5% |
| Taxes, remuneration and social security45 | €27k | €42k | €34k | €19k | €14k | ▼ 22.8% |
| Taxes450/3 | €2k | €12k | €9k | €10k | €13k | ▲ 38.7% |
| Remuneration and social security454/9 | €25k | €30k | €25k | €9k | €1k | ▼ 86.0% |
| Other amounts payable47/48 | €26k | €25k | €35k | €51k | €50k | ▼ 1.9% |
| Accrued charges and deferred income492/3 | - | - | - | €500 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72 | €1k | €20k | €-4k | €15k | ▲ 510% |
| + Depreciation and write-downs630 | €2k | €4k | €4k | €8k | €8k | ▲ 1.6% |
| Operating cash flow (approximation) | €2k | €5k | €24k | €4k | €23k | ▲ 411% |
| Investment in fixed assets (approximation) | - | €-13k | €-13k | €-20k | €-353 | ▲ 98.2% |
| Change in cash | - | €17k | €6k | €-20k | €35k | ▲ 272% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
01-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 93 days late
2021
05-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 97 days late
2020
31-12
Financial
Back to profitnet €27k
Net result €27k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
2 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, Tournai · 1 establishment unit since 2017
Ground area
783 m²
Building footprint
113 m²
Volume, LiDAR
751 m³
Parcel 57050A0461/00S000, Wallonia · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KADI CONSTRUCT
since 20172.269.682.610
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57050A0461/00S000 | Wallonia | 783 m² | 1 · 113 m² | 9.5 m · 2 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.
Recognitions · licences · registrations
Recognised contractor
10 categoriesKADI CONSTRUCT SRL45080
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Of 20,028 companies in sector 43320 we hold annual accounts for 9,133. 7,223 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
Founded06-11-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
81220Other building cleaning and industrial cleaning
43230Insulation installation
43332Laying of wooden floor and wall coverings
43343Specialised construction activities
43350Other building finishing work
43410Roofing work
43990Other specialised construction activities
Contact
Website
www.kadi-construct.be
E-mail
kadiconstruct@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.