KVR CONSTRUCT
ActiveSummary
KVR CONSTRUCT has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €97,838 and a net result of €5,832. Equity is growing by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 37% of 7461 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71=
Solvency59▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.63 against 2.29 in 2023; short-term debt: 18.3% and cash: 5.2% of total assets), but 65.7% of the assets are financed with debt.
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Signals
Four 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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
34.3%
Return on assets
2%
Age of the figures
21 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-08-2025, 7 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
7 d late
2023
44 d early
2022
42 d early
2021
59 d early
2020
71 d early
2019
42 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 42 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€97,838▼ 9.2%
2023 · €107,704
Total assets
€285,542▲ 0.6%
2023 · €283,804
Net result
€5,832▲ 2.2%
2023 · €5,708
Working capital
€32,942▼ 11.9%
2023 · €37,400
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€36,263▲ 49.6%€10,488▼ 71.1%€8,224▼ 21.6%€11,712▲ 42.4%€12,005▲ 2.5%
Net result€26,261above the sector's middle half▲ 48.8%€8,191within the sector's middle half▼ 68.8%€3,340below the sector's middle half▼ 59.2%€5,708below the sector's middle half▲ 70.9%€5,832below the sector's middle half▲ 2.2%
Equity€98,382within the sector's middle half▲ 33.5%€98,656within the sector's middle half▲ 0.3%€101,996below the sector's middle half▲ 3.4%€107,704below the sector's middle half▲ 5.6%€97,838below the sector's middle half▼ 9.2%
Total assets€126,913within the sector's middle half▲ 32.3%€333,451above the sector's middle half▲ 163%€300,242below the sector's middle half▼ 10.0%€283,804below the sector's middle half▼ 5.5%€285,542below the sector's middle half▲ 0.6%
Debt€28,531▲ 28.6%€234,795▲ 723%€198,246▼ 15.6%€176,100▼ 11.2%€187,703▲ 6.6%
Working capital€52,488within the sector's middle half▲ 42.9%€20,974within the sector's middle half▼ 60.0%€27,522below the sector's middle half▲ 31.2%€37,400within the sector's middle half▲ 35.9%€32,942within the sector's middle half▼ 11.9%
Solvency77.5%above the sector's middle half▲ 0.6pp29.6%within the sector's middle half▼ 47.9pp34.0%within the sector's middle half▲ 4.4pp38.0%within the sector's middle half▲ 4.0pp34.3%within the sector's middle half▼ 3.7pp
Current ratio2.91within the sector's middle half▼ 0.251.32within the sector's middle half▼ 1.591.69within the sector's middle half▲ 0.372.29within the sector's middle half▲ 0.591.63within the sector's middle half▼ 0.66
Return on assets (ROA)20.7%above the sector's middle half▲ 2.3pp2.5%within the sector's middle half▼ 18.2pp1.1%below the sector's middle half▼ 1.3pp2.0%within the sector's middle half▲ 0.9pp2.0%within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 2% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €285,542
Fixed assets
€200,254 ▼ 7.9%
Current assets
€85,288 ▲ 28.3%
Equity and liabilities €285,542
Equity
€97,838 ▼ 9.2%
Debt
€187,703 ▲ 6.6%
Debt's share of the balance-sheet total rises from 62.0% to 65.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€32,318▼
2023 · €35,355
Cash flow
€26,145▼
2023 · €29,351
Quick ratio
1.33▼
2023 · 1.67
Debt to equity
1.92▲
2023 · 1.64
ROE
6.0%▲
2023 · 5.3%
Interest coverage
8.81▼
2023 · 14.75
Debt ≤ 1 year
€52,346▲
2023 · €29,084
Debt > 1 year
€135,357▼
2023 · €147,016
Income taxes
€2,613▼
2023 · €3,610
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €89 | €250 | ▲ 181% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,185 | €18,273 | €25,313 | €23,643 | €20,314 | ▼ 14.1% |
| Other operating charges640/8 | - | €1,298 | €2,457 | €3,177 | €2,870 | ▼ 9.7% |
| Gross operating margin9900 | €55,661 | €30,059 | €35,994 | €38,532 | €35,188 | ▼ 8.7% |
| Operating profit (loss)9901 | €36,263 | €10,488 | €8,224 | €11,712 | €12,005 | ▲ 2.5% |
| Financial income75/76B | - | €30 | €0 | €2 | €109 | ▲ 4,386% |
| Recurring financial income75 | - | €30 | €0 | €2 | €109 | ▲ 4,386% |
| Financial charges65/66B | - | €1,437 | €2,888 | €2,397 | €3,670 | ▲ 53.1% |
| Recurring financial charges65 | €169 | €1,437 | €2,888 | €2,397 | €3,670 | ▲ 53.1% |
| Profit (loss) for the period before taxes9903 | €36,094 | €9,081 | €5,336 | €9,317 | €8,444 | ▼ 9.4% |
| Income taxes67/77 | €9,833 | €890 | €1,996 | €3,610 | €2,613 | ▼ 27.6% |
| Profit (loss) for the period9904 | €26,261 | €8,191 | €3,340 | €5,708 | €5,832 | ▲ 2.2% |
| Profit (loss) for the period to be appropriated9905 | €26,261 | €8,191 | €3,340 | €5,708 | €5,832 | ▲ 2.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €126,913 | €333,451 | €300,242 | €283,804 | €285,542 | ▲ 0.6% |
| Fixed assets21/28 | €46,941 | €247,561 | €232,992 | €217,319 | €200,254 | ▼ 7.9% |
| Tangible fixed assets22/27 | €46,941 | €247,561 | €228,562 | €212,889 | €195,824 | ▼ 8.0% |
| Land and buildings22 | - | €215,478 | €205,829 | €194,794 | €183,758 | ▼ 5.7% |
| Plant, machinery and equipment23 | - | €18,675 | €16,116 | €14,069 | €7,345 | ▼ 47.8% |
| Furniture and vehicles24 | - | €13,408 | €6,617 | €4,027 | €4,720 | ▲ 17.2% |
| Financial fixed assets28 | - | - | €4,430 | €4,430 | €4,430 | = |
| Current assets29/58 | €79,972 | €85,890 | €67,250 | €66,484 | €85,288 | ▲ 28.3% |
| Stocks and contracts in progress3 | - | - | - | €18,000 | €15,790 | ▼ 12.3% |
| Stocks30/36 | - | - | - | €18,000 | €15,790 | ▼ 12.3% |
| Amounts receivable within one year40/41 | €16,335 | €13,068 | €23,071 | €20,716 | €47,222 | ▲ 128% |
| Trade receivables40 | - | €6,652 | €15,874 | €14,861 | €36,050 | ▲ 143% |
| Other amounts receivable41 | - | €6,417 | €7,197 | €5,855 | €11,172 | ▲ 90.8% |
| Cash at bank and in hand54/58 | €61,354 | €70,451 | €35,164 | €22,560 | €14,872 | ▼ 34.1% |
| Deferred charges and accrued income490/1 | - | €2,371 | €9,014 | €5,208 | €7,404 | ▲ 42.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €126,913 | €333,451 | €300,242 | €283,804 | €285,542 | ▲ 0.6% |
| Equity10/15 | €98,382 | €98,656 | €101,996 | €107,704 | €97,838 | ▼ 9.2% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €92,182 | €92,456 | €95,796 | €101,504 | €91,638 | ▼ 9.7% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €90,596 | €93,936 | €101,504 | €91,638 | ▼ 9.7% |
| Amounts payable17/49 | €28,531 | €234,795 | €198,246 | €176,100 | €187,703 | ▲ 6.6% |
| Amounts payable after more than one year17 | €1,048 | €169,879 | €158,519 | €147,016 | €135,357 | ▼ 7.9% |
| Financial debts170/4 | - | €169,879 | €158,519 | €147,016 | €135,357 | ▼ 7.9% |
| Amounts payable within one year42/48 | €27,483 | €64,916 | €39,728 | €29,084 | €52,346 | ▲ 80.0% |
| Current portion of amounts payable after more than one year42 | - | €12,262 | €11,360 | €11,503 | €11,659 | ▲ 1.4% |
| Financial debts43 | - | €40,000 | - | - | - | - |
| Credit institutions430/8 | - | €40,000 | - | - | - | - |
| Trade debts44 | €11,554 | €1,782 | €17,700 | €9,289 | €21,090 | ▲ 127% |
| Suppliers440/4 | - | €1,782 | €17,700 | €9,289 | €21,090 | ▲ 127% |
| Taxes, remuneration and social security45 | - | €10,629 | €4,553 | €5,709 | €3,901 | ▼ 31.7% |
| Taxes450/3 | - | €10,629 | €4,553 | €5,709 | €3,901 | ▼ 31.7% |
| Other amounts payable47/48 | - | €243 | €6,114 | €2,583 | €15,697 | ▲ 508% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,261 | €8,191 | €3,340 | €5,708 | €5,832 | ▲ 2.2% |
| + Depreciation and write-downs630 | €18,185 | €18,273 | €25,313 | €23,643 | €20,314 | ▼ 14.1% |
| Operating cash flow (approximation) | €44,446 | €26,464 | €28,653 | €29,351 | €26,145 | ▼ 10.9% |
| Investment in fixed assets (approximation) | - | -€218,892 | -€10,744 | -€7,970 | -€3,248 | ▲ 59.2% |
| Change in cash | - | €9,097 | -€35,287 | -€12,604 | -€7,688 | ▲ 39.0% |
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
2025
07-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 7 days late
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €3,340 ▼59.2%
Net result drops to €3,340, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100,000Eq €101,996 ▲3.4%
5 profitable years in a row build equity to €101,996.
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €26,261 ▲48.8%
Operating result €36,263, net result €26,261, both a record.
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
07-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
22-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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, Ravels · 1 establishment unit since 2014
Ground area
852 m²
Building footprint
238 m²
Volume, LiDAR
999 m³
Parcel 13035C0508/02T000, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
KVR Construct
since 20142.231.517.167
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13035C0508/02T000 | Flanders | 852 m² | 1 · 238 m² | 6.8 m · 1 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.
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Of 8,464 companies in sector 43120 we hold annual accounts for 3,233. 2,650 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
Founded02-06-2014
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
43120Site preparation
25530Machining of metals
33120Repair and maintenance of machinery
42219Civil engineering
42919Civil engineering
43130Specialised construction activities
43342Specialised construction activities
43990Other specialised construction activities
49410Freight transport by road
E-invoicing
Reachable via Peppol
Peppol ID
0208:0553534359
Also
9925:BE0553534359
Registered
24-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.