N-Construct
ActiveSummary
N-Construct has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €96,752 and a net result of -€12,250. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 86% of 9742 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability12▲+3
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 4.86 against 4.72 in 2023; short-term debt: 16.6% and cash: 77.7% of total assets), and 18.4% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
81.6%
Return on assets
-10.3%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€12,250
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 19-06-2026, 42 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
42 d early
2024
38 d early
2023
22 d early
2022
21 d early
2021
32 d early
2020
23 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 7 accounts on average 31 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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. Usually files around 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€96,752▼ 11.2%
2023 · €109,002
Total assets
€118,497▼ 11.3%
2023 · €133,533
Net result
-€12,250▼ 23.6%
2023 · -€9,912
Working capital
€75,831▼ 12.9%
2023 · €87,093
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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-€4,639▼ 8.2%€1.3m€529,370▼ 59.9%-€1,193-€12,183▼ 922%
Net result-€27,476below the sector's middle half▼ 17.1%€982,469above the sector's middle half€400,219above the sector's middle half▼ 59.3%-€9,912within the sector's middle half-€12,250within the sector's middle half▼ 23.6%
Equity€36,226below the sector's middle half▼ 43.1%€118,695within the sector's middle half▲ 228%€118,914within the sector's middle half▲ 0.2%€109,002within the sector's middle half▼ 8.3%€96,752within the sector's middle half▼ 11.2%
Total assets€3.3mwithin the sector's middle half▲ 20.1%€1.9mwithin the sector's middle half▼ 40.6%€1.9mwithin the sector's middle half▼ 0.2%€133,533below the sector's middle half▼ 93.1%€118,497below the sector's middle half▼ 11.3%
Debt€3.2m▲ 21.6%€1.8m▼ 43.6%€1.8m▼ 0.3%€24,531▼ 98.6%€21,745▼ 11.4%
Working capital€719,340above the sector's middle half▼ 47.8%€970,475above the sector's middle half▲ 34.9%€1.3mabove the sector's middle half▲ 37.7%€87,093within the sector's middle half▼ 93.5%€75,831within the sector's middle half▼ 12.9%
Solvency1.1%below the sector's middle half▼ 1.2pp6.1%below the sector's middle half▲ 5.0pp6.2%below the sector's middle half=81.6%above the sector's middle half▲ 75.5pp81.6%above the sector's middle half=
Current ratio1.28within the sector's middle half▼ 0.752.01within the sector's middle half▲ 0.723.25above the sector's middle half▲ 1.244.72above the sector's middle half▲ 1.474.86above the sector's middle half▲ 0.14
Return on assets (ROA)-0.8%within the sector's middle half=50.8%above the sector's middle half▲ 51.6pp20.7%above the sector's middle half▼ 30.0pp-7.4%below the sector's middle half▼ 28.2pp-10.3%below the sector's middle half▼ 2.9pp
Staff (FTE)0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €12,183 in 2024 against €1,193 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €118,497
Fixed assets
€23,000 =
Current assets
€95,497 ▼ 13.6%
Equity and liabilities €118,497
Equity
€96,752 ▼ 11.2%
Debt
€21,745 ▼ 11.4%
Debt's share of the balance-sheet total stays at 18.4%.
Key figures and ratios
Quick ratio
4.76▲
2023 · 4.65
Debt to equity
0.22▼
2023 · 0.23
ROE
-12.7%▼
2023 · -9.1%
Debt ≤ 1 year
€19,666▼
2023 · €23,440
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,597 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.2%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% 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 3,597 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €457 | €457 | €457 | €0 | - | - |
| Other operating charges640/8 | - | €1,029 | €3,207 | €1,225 | €1,144 | ▼ 6.7% |
| Gross operating margin9900 | -€3,725 | €1.3m | €533,035 | €33 | -€11,040 | ▼ 33,943% |
| Operating profit (loss)9901 | -€4,639 | €1.3m | €529,370 | -€1,193 | -€12,183 | ▼ 922% |
| Financial income75/76B | - | €1,572 | €0 | €232 | €0 | ▼ 100% |
| Recurring financial income75 | - | €1,572 | €0 | €232 | €0 | ▼ 100% |
| Financial charges65/66B | - | €11,663 | €17,037 | €8,952 | €67 | ▼ 99.3% |
| Recurring financial charges65 | €22,837 | €11,663 | €17,037 | €8,952 | €67 | ▼ 99.3% |
| Profit (loss) for the period before taxes9903 | -€27,476 | €1.3m | €512,333 | -€9,912 | -€12,250 | ▼ 23.6% |
| Income taxes67/77 | - | €327,531 | €112,113 | €0 | - | - |
| Profit (loss) for the period9904 | -€27,476 | €982,469 | €400,219 | -€9,912 | -€12,250 | ▼ 23.6% |
| Profit (loss) for the period to be appropriated9905 | -€27,476 | €982,469 | €400,219 | -€9,912 | -€12,250 | ▼ 23.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.3m | €1.9m | €1.9m | €133,533 | €118,497 | ▼ 11.3% |
| Formation expenses20 | €915 | €457 | €0 | - | - | - |
| Fixed assets21/28 | - | - | - | €23,000 | €23,000 | = |
| Financial fixed assets28 | - | - | - | €23,000 | €23,000 | = |
| Current assets29/58 | €3.3m | €1.9m | €1.9m | €110,533 | €95,497 | ▼ 13.6% |
| Stocks and contracts in progress3 | €1.7m | €662,332 | €0 | €1,446 | €1,866 | ▲ 29.1% |
| Stocks30/36 | - | €662,332 | €0 | €1,446 | €1,866 | ▲ 29.1% |
| Amounts receivable within one year40/41 | €104,665 | €62,469 | €37,029 | €2,065 | €1,513 | ▼ 26.7% |
| Trade receivables40 | - | €0 | - | €2,060 | €1,513 | ▼ 26.6% |
| Other amounts receivable41 | - | €62,469 | €37,029 | €5 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1.4m | €1.2m | €1.9m | €107,022 | €92,118 | ▼ 13.9% |
| Deferred charges and accrued income490/1 | - | €371 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.3m | €1.9m | €1.9m | €133,533 | €118,497 | ▼ 11.3% |
| Equity10/15 | €36,226 | €118,695 | €118,914 | €109,002 | €96,752 | ▼ 11.2% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | - | €18,695 | €18,914 | €9,002 | €0 | ▼ 100% |
| Distributable reserves133 | - | €18,695 | €18,914 | €9,002 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€63,774 | €0 | €0 | €0 | -€3,248 | - |
| Amounts payable17/49 | €3.2m | €1.8m | €1.8m | €24,531 | €21,745 | ▼ 11.4% |
| Amounts payable after more than one year17 | €684,029 | €852,237 | €1.2m | €0 | - | - |
| Financial debts170/4 | - | €841,529 | €1.2m | €0 | - | - |
| Other amounts payable178/9 | - | €10,708 | €14,784 | €0 | - | - |
| Amounts payable within one year42/48 | €2.5m | €964,560 | €594,765 | €23,440 | €19,666 | ▼ 16.1% |
| Trade debts44 | €48,990 | €33,170 | €28,130 | €2,227 | €176 | ▼ 92.1% |
| Suppliers440/4 | - | €33,170 | €28,130 | €2,227 | €176 | ▼ 92.1% |
| Advances received on contracts in progress46 | - | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €4,634 | €139,879 | €0 | €786 | - |
| Taxes450/3 | - | €4,634 | €139,879 | €0 | €786 | - |
| Other amounts payable47/48 | - | €926,756 | €426,756 | €21,213 | €18,704 | ▼ 11.8% |
| Accrued charges and deferred income492/3 | - | - | - | €1,091 | €2,079 | ▲ 90.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,476 | €982,469 | €400,219 | -€9,912 | -€12,250 | ▼ 23.6% |
| + Depreciation and write-downs630 | €457 | €457 | €457 | €0 | - | - |
| Operating cash flow (approximation) | -€27,019 | €982,927 | €400,677 | -€9,912 | -€12,250 | ▼ 23.6% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | -€211,954 | €683,808 | -€1.8m | -€14,904 | ▲ 99.2% |
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
28-09
State Gazette act
Resignation: NEW-PORT INVESTMENT COMPANY (director)Permanent representative: Caron Bertin · Appointments: MANCA, Dejonghe,Marie Annick Yvonne Agnès Cornelia and 2 others · Statutes amendment15 facts ▸
State Gazette act
Resignation: NEW-PORT INVESTMENT COMPANY (director)
Permanent representative: Caron Bertin · Appointments: MANCA, Dejonghe,Marie Annick Yvonne Agnès Cornelia and 2 others · Statutes amendment15 facts ▸
- General meeting, 10-09-2026
- Other statement, vereniging alle aandelen in één hand, neerlegging en bekendmaking in Bijlagen Belgisch Staatsblad
- Statutes amendment, 14
- Director resignation, NEW-PORT INVESTMENT COMPANY (director)
- Permanent representative, Caron Bertin (permanent representative)
- Director appointment, MANCA (non-statutory director)
- Director appointment, Dejonghe,Marie Annick Yvonne Agnès Cornelia (non-statutory director)
- Director appointment, Caron,Oona Jeanne Liliane Yvonne Danielle (non-statutory director)
- Director appointment, Caron,Thomas,Roger Jules Baxter (non-statutory director)
- Permanent representative, Caron Bertin (permanent representative)
- Other statement, noch in België,noch in het buitenland, geen bestuursverbod en aanvaarding opdracht
- Board meeting, onmiddellijk, voornoemde bestuurders aanwezig en vertegenwoordigd
- +3 further facts in this act
19-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €982,469
Net result €982,469 after 3 loss-making years.
31-12
Financial
Equity above €100,000Eq €118,695 ▲228%
Equity rises from €36,226 to €118,695.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet -€27,476
Net result drops to -€27,476, the lowest in the series; recovery starts the following year.
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26366290). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 4
Manca
CurrentChair of the board · since 28-09-2026 · Non-statutory director · since 28-09-2026 · Legal entity · perm. rep.: Caron Bertin
Caron,Oona Jeanne Liliane Yvonne Danielle
CurrentNon-statutory director · since 28-09-2026
Caron,Thomas,Roger Jules Baxter
CurrentNon-statutory director · since 28-09-2026
Dejonghe,Marie Annick Yvonne Agnès Cornelia
CurrentNon-statutory director · since 28-09-2026
Day-to-day management 2
Dejonghe,Marie Annick Yvonne Agnès Cornelia
CurrentManaging director · since 28-09-2026
Manca
CurrentManaging director · since 28-09-2026 · Legal entity · perm. rep.: Caron Bertin
Permanent representatives 1
Caron Bertin
CurrentPermanent representative · since 28-09-2026 · for Manca
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Koksijde · 1 establishment unit since 2017
Ground area
996 m²
Building footprint
240 m²
Volume, LiDAR
2,012 m³
Parcel 38018A1052/00_000, Flanders · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
N-Construct
since 20172.271.676.058
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38018A1052/00_000 | Flanders | 996 m² | 1 · 240 m² | 10.1 m · 3 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.
Mandate history
5 people since 2026, 4 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Caron,Oona Jeanne Liliane Yvonne Danielle |
|
| Caron,Thomas,Roger Jules Baxter |
|
| Dejonghe,Marie Annick Yvonne Agnès Cornelia |
|
| Manca |
|
| NEW-PORT INVESTMENT COMPANY |
|
Articles of association
Who signs
“TWEEDE BESLISSING De vergadering beslist de externe vertegenwoordigingsbevoegdheid van de vennootschap te wijzigen in deze zin dat de vennootschap voortaan geldig jegens derden en in rechte vertegenwoordigd wordt door één gedelegeerd bestuurder.”
Structure & network
Owners and holdings
1 ownerChain of control
- MANCA
- New - Port Investment Company
- N-Construct
Highest known parent: MANCA. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 5,302 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
Founded07-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
41003General construction of other non-residential buildings
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0682654029
Also
9925:BE0682654029
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.