Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Turnover rose in 2025 from €32,274 to €124,224.
KB CONSTRUCT pays its suppliers 36 days later than in 2024. Customers pay 202 days earlier.
The 2023 accounts came latest: 132 days after the end of the period.
Lower solvency than 95% of companies in construction of buildings. Sector median 32.9% · 1,038 companies.
The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).
About 6 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, micro). It does better than 3% of them on solvency, 3% on liquidity, 12% on profitability and 55% 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 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% 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, 1,564 companies had the same profile as KB CONSTRUCT has now. Each dot stands for 4 companies, two years later.
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KB CONSTRUCT itself: 6.0% 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 1,564 companies, not a prediction for KB 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 0.75 (0.77 in 2024), below 1. Short-term debt is 129.5% and cash 0.4% 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.
The company filed its last 7 accounts on average 57 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| KB CONSTRUCT Châtelet | €124,224 | -8.8% | -29.5% | - |
| ANZA CONSTRUCTIONS Manage | - | - | -23.2% | - |
| POLYTECH SERVICES Brussels | - | - | 64.5% | - |
| Marien-construct Antwerp | - | - | 66.1% | - |
| CHIMBUNGOS INNOVATION Jette | €125,579 | -3.1% | -2.9% | - |
| N&T ISO Saint-Josse-ten-Noode | - | - | 98.5% | - |
| BICO RENOVATION Jette | - | - | 55.3% | - |
Grey: the largest companies of the sector (construction of buildings (NACE 41)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as KB CONSTRUCT: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €136,000 and €178,000, founded between 2018 and 2019.
KB CONSTRUCT has existed since 2019. Turnover fell from €220,469 in 2022 to €65,482 in 2023.
Solvency fell in 2025 from -23.2% to -29.5% because of the loss and higher debts to suppliers.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Lower than 95% of 1,038 companies in 2025.
Higher than 13% of 1,017 companies in 2025.
Higher than 11% of 1,033 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
148,425 | 141,216 | 137,869 | 136,030 | 156,564 | 59,255 | 14,652 | |
20 |
- | - | - | - | 74 | 604 | 604 | |
21/28 |
3,502 | 7,004 | 10,506 | 77,924 | 26,597 | 14,098 | 8,127 | |
22/27 |
3,502 | 7,004 | 10,506 | 77,924 | 26,597 | 14,098 | 8,127 | |
22 |
- | - | - | 47,009 | - | - | - | |
23 |
- | - | - | - | 203 | 14,098 | 2,000 | |
24 |
3,502 | 7,004 | 10,506 | 30,915 | 26,394 | - | 6,127 | |
29/58 |
144,923 | 134,212 | 127,363 | 58,106 | 129,893 | 44,553 | 5,921 | |
3 |
100,509 | 100,509 | 97,009 | - | - | - | - | |
30/36 |
100,509 | 100,509 | 97,009 | - | - | - | - | |
40/41 |
43,846 | 29,246 | 30,072 | 34,923 | 3,393 | 2,969 | 4,454 | |
40 |
43,846 | 29,246 | 30,072 | 22,195 | 3,393 | 2,969 | 4,454 | |
41 |
- | - | - | 12,728 | - | - | - | |
50/53 |
- | - | - | - | - | 2,341 | - | |
54/58 |
568 | 4,457 | 282 | 23,183 | 126,500 | 39,243 | 1,467 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
148,425 | 141,216 | 137,869 | 136,030 | 156,564 | 59,255 | 14,652 | |
10/15 |
-43,824 | -32,757 | -35,439 | 49,386 | 79,369 | 32,529 | 6,662 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | - | - | |
100 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | |
130 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | |
14 |
-51,884 | -40,817 | -43,499 | 41,326 | 71,309 | 26,329 | 462 | |
17/49 |
192,249 | 173,973 | 173,308 | 86,644 | 77,195 | 26,726 | 7,990 | |
42/48 |
192,249 | 173,973 | 173,308 | 86,644 | 77,195 | 26,726 | 7,990 | |
44 |
15,674 | 617 | 97,572 | 83,884 | 43,418 | 22,004 | 3,268 | |
440/4 |
15,674 | 617 | 97,572 | 83,884 | 43,418 | 22,004 | 3,268 | |
45 |
4,840 | 1,612 | 2,977 | - | 23,103 | 4,722 | 4,722 | |
450/3 |
2,192 | 1,612 | 2,977 | - | 23,103 | - | - | |
454/9 |
2,648 | - | - | - | - | 4,722 | 4,722 | |
47/48 |
171,735 | 171,744 | 72,759 | 2,760 | 10,674 | - | - | |
| Income statement | ||||||||
70 |
124,224 | 32,274 | 65,482 | 220,469 | 241,271 | 119,876 | 106,591 | |
76A |
- | 1,592 | - | 300 | - | - | - | |
9900 |
-2,318 | 8,097 | -61,930 | 10,067 | 63,839 | 32,655 | 7,189 | |
60/61 |
126,542 | 25,769 | 134,336 | 210,702 | 177,432 | 87,221 | 99,402 | |
62 |
4,630 | - | 1,278 | 2,704 | 2,038 | 505 | 2,090 | |
630 |
3,502 | 3,502 | 5,477 | 14,016 | 12,895 | 5,429 | 2,872 | |
640/8 |
527 | 1,734 | 1,076 | 3,103 | 1,607 | 711 | 1,741 | |
66A |
- | - | 14,932 | - | - | - | - | |
9901 |
-10,977 | 2,861 | -84,693 | -9,756 | 47,299 | 26,010 | 486 | |
75/76B |
- | 5 | - | - | - | - | - | |
75 |
- | 5 | - | - | - | - | - | |
65/66B |
90 | 184 | 132 | 444 | 262 | 143 | 24 | |
65 |
90 | 184 | 132 | 444 | 262 | 143 | 24 | |
9903 |
-11,067 | 2,682 | -84,825 | -10,200 | 47,037 | 25,867 | 462 | |
67/77 |
- | - | - | 19,783 | 197 | - | - | |
9904 |
-11,067 | 2,682 | -84,825 | -29,983 | 46,840 | 25,867 | 462 | |
9905 |
-11,067 | 2,682 | -84,825 | -29,983 | 46,840 | 25,867 | 462 | |
| Appropriation of the result | ||||||||
9906 |
-51,884 | -40,817 | -43,499 | 41,326 | 73,169 | 26,329 | 462 | |
14P |
-40,817 | -43,499 | 41,326 | 71,309 | 26,329 | - | - | |
691/2 |
- | - | - | - | 1,860 | - | - | |
6920 |
- | - | - | - | 1,860 | - | - | |
| Document | ||||||||
The notes to these accounts have 2 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-07-2026 | 2026-00361056 | |
| 31-12-2024 | full format | 31-10-2025 | 2025-00557666 | |
| 31-12-2023 | full format | 10-12-2024 | 2024-00614019 | |
| 31-12-2022 | full format | 26-06-2023 | 2023-00170751 | |
| 31-12-2021 | full format | 29-09-2022 | 2022-20440567 | |
| 31-12-2020 | full format | 04-10-2021 | 2021-70700393 | |
| 31-12-2019 | full format | 27-10-2020 | 2020-63900210 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| -7,475 | 6,363 | -79,216 | 4,260 | 60,194 | 31,439 | 3,358 | ||
| -7,565 | 6,184 | -79,348 | -15,967 | 59,735 | 31,296 | 3,334 | ||
| 0 | 0 | -61,941 | 51,327 | 24,061 | 11,400 | 11,603 | ||
| -3,889 | 4,175 | -22,901 | -103,317 | 87,257 | 37,776 | - | ||
| -47,326 | -39,761 | -45,945 | -28,538 | 52,698 | 17,827 | -2,069 | ||
| -8.8% | 8.9% | - | -4.4% | 19.6% | 21.7% | 0.5% | ||
| -29.5% | -23.2% | -25.7% | 36.3% | 50.7% | 54.9% | 45.5% | ||
| 0.75 | 0.77 | 0.73 | 0.67 | 1.68 | 1.67 | 0.74 | ||
| 0.23 | 0.19 | 0.18 | 0.67 | 1.68 | 1.67 | 0.74 | ||
| - | - | - | 1.75 | 0.97 | 0.82 | 1.20 | ||
| - | - | - | -60.7% | 59.0% | 79.5% | 6.9% | ||
| -7.5% | 1.9% | -61.5% | -22.0% | 29.9% | 43.7% | 3.2% | ||
| -83.06 | 34.58 | -600.12 | 9.59 | over 100 | - | - | ||
| 129 days | 331 days | 168 days | 37 days | 5 days | 9 days | 15 days | ||
| 45 days | 9 days | 265 days | 145 days | 89 days | 92 days | 12 days |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €51,327 | €24,061 |
| €3,502 | €3,502 | €5,477 | €14,016 | €12,895 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €10,977, after a profit of €2,861 in 2024.
Equity is negative. Debt (€192,249) exceeds the balance-sheet total (€148,425).
L’assemblée générale décidera si ces mandats seront rémunérés ou non et, dans l’affirmative, le salaire de l’administrateur sera fixé par l’assemblée générale. Le pouvoir de signature des administrateurs sera individuel pour tous actes et/ou engagements de la société. Vote : Cette résolution est adoptée à l'unanimité.
KB CONSTRUCT has no parent and no holdings in its annual accounts. KASHARI Judmir is the only director.
| IB CONSTRUCT via BAJRAKTARI Ilir, at KB CONSTRUCT, last mentioned in 2019 · Director · deed of 24-10-2022 founded in 2022 |
turnover €196,427 (2025) |
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
KB CONSTRUCT was incorporated on 16 April 2019 by two natural persons, with a starting capital of €18,600.12 The registered office moved to Andenne in 2020 and to Châtelet in 2024.34 KASHARI Judmir is director of the company, appointed by deed of 13-04-2022.5 Turnover grew from €106,591 in 2019 to €124,224 in 2025.6
| Establishment | Since | Unit number |
|---|---|---|
| Rue d'Aiseau 17 registered office 6200 Châtelet | ||
| Rue Florimond Bidron 35 5020 Namur 43120 Site preparation | 01-01-2023 | 2.381.027.722 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 92128C0235/00F000 | 681 m² | 1 · 39 m² | 3.5 m · 1 |
| 52012B0006/00C005 | 136 m² | - | - |
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 0724.969.486
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