Turnover
≈ €160,000 estimated
The accounts state no turnover.
MULTI-CONSTRUCT GROUP
Lifetime
2 annual accounts with figures on one time axispeak €53,533 (2024)
€35,312▼ 34.0%
peak €21,376 (2024)
€2,364▼ 88.9%
peak €32,855 (2025)
€32,855▲ 7.8%
€164,009▲ 164%
Board1 name since 2023
1 directorPOGHOSYAN Vazgen
Documentsfilings and deeds
14-10-202675 days late
2025abbreviated format
Gross margin from €53,533 to €35,312Result from €21,376 to €2,364Debts from €62,202 to €164,009Investments €48,758Cash from €1,008 to €3,493
Key points
from the 2025 annual accountsDebts
€164,009 ▲ 164%
Debts rose by €101,807 in 2025.
Investments
€41,558 1.8 × depreciation
Green is investment, beige is depreciation.
Liquidity
0.87 was 1.29 in 2024
Short-term debts rose from €40,566 to €150,329.
Starting capital
€5,000 100 shares
Position in the sector
€32,855
Less equity than 83% of companies in specialised construction. Sector median €250,150 · 9,975 companies.
2025 accounts filed 75 days after the deadline
Checked score
37
Weak
Financially stronger than 29% of micro companies in specialised construction (NACE 43)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
4.5% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.0%lowest value
01-2025: 3.2%▲ +0.2 percentage points vs 12-2024
02-2025: 3.3%▲ +0.1 percentage points vs 01-2025
03-2025: 3.3%● unchanged vs 02-2025
04-2025: 3.3%● unchanged vs 03-2025
05-2025: 3.3%● unchanged vs 04-2025
06-2025: 3.3%● unchanged vs 05-2025
07-2025: 3.3%● unchanged vs 06-2025
08-2025: 3.3%● unchanged vs 07-2025
09-2025: 7.3%▲ +4.0 percentage points vs 08-2025highest value
10-2025: 7.2%▼ -0.1 percentage points vs 09-2025
11-2025: 4.1%▼ -3.1 percentage points vs 10-2025
12-2025: 4.1%● unchanged vs 11-2025
01-2026: 4.0%▼ -0.1 percentage points vs 12-2025
02-2026: 4.0%● unchanged vs 01-2026
03-2026: 4.0%● unchanged vs 02-2026
04-2026: 4.0%● unchanged vs 03-2026
05-2026: 4.1%▲ +0.1 percentage points vs 04-2026
06-2026: 4.1%● unchanged vs 05-2026
07-2026: 4.1%● unchanged vs 06-2026
08-2026: 4.9%▲ +0.8 percentage points vs 07-2026
09-2026: 5.1%▲ +0.2 percentage points vs 08-2026
10-2026: 4.5%▼ -0.6 percentage points vs 09-2026
11-2026: 4.5%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Last filed accounts filed 75 days late; 2 of the last 3 accounts late
Founded in 2023
Sector: Specialised construction activities (NACE 43)
Size: total assets €196,864
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 19% of them on solvency, 6% on liquidity, 38% on profitability and 51% 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).
Comparable companies, two years later
In July 2024, 2,542 companies had the same profile as MULTI-CONSTRUCT GROUP has now. Each dot stands for 7 companies, two years later.
95.0%
were still trading
1.2%
stopped another way
3.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MULTI-CONSTRUCT GROUP itself: 4.5% 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.
| 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 2,542 companies, not a prediction for MULTI-CONSTRUCT GROUP. 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 €1,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is insufficient, with a current ratio of 0.87 (1.29 in 2024), below 1. Short-term debt is 76.4% and cash 1.8% of total assets. 83.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 9973 sector peers (2025).
NBB · sector comparisonPosition among 9973 sector peers
Solvency
better than 18%
← weakest
strongest →
raises risk · 2025 accounts filed 75 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-10-2026, 75 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
75 days late
2024
69 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 72 days after 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 (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0798313364
First establishment
Bovelingenstraat (R.L.) 261, Heers
Incorporation
Founding capital of €5,000, 100 shares · Founder: POGHOSYAN Vazgen · Appointment: POGHOSYAN Vazgen (director) · published on 14-02-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MULTI-CONSTRUCT GROUP Heers | €196,864 | €35,312 | 16.7% | - |
| J&S TECHNIX Lommel | €161,656 | €34,746 | 28.9% | - |
| KH ELEC Anderlues | €194,404 | €34,378 | 48.5% | - |
| HBR Elec Belgique Evere | €201,581 | €36,023 | 10.4% | - |
| DL-Technics BV Kortrijk | €188,204 | €38,169 | 30.0% | - |
| F & F Elec Tournai | €192,828 | €32,099 | 13.6% | - |
| srl FRANCOIS GREGORY Libin | €191,083 | €41,790 | 41.0% | - |
These companies have the same main activity as MULTI-CONSTRUCT GROUP: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €162,000 and €202,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 10-02-2023Normal situation
- Activity
- General electrical installation workNACE 43211and 2 others
- Establishment unit
- 2.343.592.8483870 Heers, since 14-02-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 21-01-2026
Insights on MULTI-CONSTRUCT GROUP
The computed 12-month bankruptcy probability of MULTI-CONSTRUCT GROUP is 4.5% (elevated). The 2025 annual accounts show equity of €32,855 and a net result of €2,364.
Its solvency ranks better than 18% of 9,973 sector peers (NACE 43, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MULTI-CONSTRUCT GROUP
- What is the company number of MULTI-CONSTRUCT GROUP?
- The company number of MULTI-CONSTRUCT GROUP is 0798.313.364. The VAT number is the same number with BE in front: BE 0798.313.364.
- Where is MULTI-CONSTRUCT GROUP based?
- The registered office is at Bovelingenstraat (R.L.) 261, 3870 Heers.Company details
- What does MULTI-CONSTRUCT GROUP do?
- According to the KBO register, the main activity is general electrical installation work (NACE 43211).
- What is the legal form of MULTI-CONSTRUCT GROUP?
- MULTI-CONSTRUCT GROUP is a private limited company (BV).
- When was MULTI-CONSTRUCT GROUP founded?
- MULTI-CONSTRUCT GROUP was founded on 10-02-2023.
- Is MULTI-CONSTRUCT GROUP still active?
- Yes, MULTI-CONSTRUCT GROUP is an active enterprise in the KBO register.
- What is the turnover of MULTI-CONSTRUCT GROUP?
- The turnover in financial year 2025 is ≈ €160,000. This figure is estimated from the gross margin of €35,312 and 62 comparable companies (NACE 43211). It probably lies between €110,000 and €230,000.Financials
- Is MULTI-CONSTRUCT GROUP profitable?
- In financial year 2025, MULTI-CONSTRUCT GROUP made a profit of €2,364.
- Where can I find the annual accounts of MULTI-CONSTRUCT GROUP?
- MULTI-CONSTRUCT GROUP filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MULTI-CONSTRUCT GROUP due?
- MULTI-CONSTRUCT GROUP must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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