Equity
NDJ CONSTRUCT has made a profit in every financial year since 2023.
NDJ CONSTRUCT has made a profit in every financial year since 2023.
The micro format states no turnover.
Green is investment, beige is depreciation.
Latest accounts filed late: after the legal deadline.
The dashed line is the sector median: 0.1% across 14,828 companies (NACE 71, micro).
About 3 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 71, micro). It does better than 26% of them on solvency, 29% on liquidity, 49% on profitability and 84% on growth.
The bankruptcy probability was computed on 08-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 7,976 companies had the same profile as NDJ CONSTRUCT has now. Each dot stands for 20 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NDJ CONSTRUCT itself: 3.3% within 12 months.
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 7,976 companies, not a prediction for NDJ 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 tight, with a current ratio of 1.27 (1.18 in 2024), below the usual 1.5. Short-term debt is 74.9% and cash 32.2% of total assets. 74.9% of the assets are financed with debt and provisions.
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 3 accounts on average 54 days after the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| NDJ CONSTRUCT Waterloo | €357,448 | €90,910 | 25.1% | - |
| JW Architects Lasne | €333,624 | €69,655 | 1.5% | - |
| Great Library Design Studio Antwerp | €356,778 | €96,517 | 10.2% | - |
| Studio Raeymaekers Maaseik | €384,974 | €92,385 | 72.9% | - |
| Interieur Degrande Wevelgem | €295,698 | €64,205 | 11.0% | - |
| RENODA CONSTRUCT Bredene | €394,038 | €78,659 | 38.8% | - |
| WORKLIFE SPACE Auderghem | €253,820 | €86,437 | 83.2% | - |
These companies have the same main activity as NDJ CONSTRUCT: activities of interior architects (NACE 71112). They are comparable in size and age: total assets between €254,000 and €394,000, founded between 2022 and 2023.
NDJ CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €4,339 in 2023 to €90,910 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €190,000. Estimated: probably between €150,000 and €270,000.
Higher than 25% of 11,794 companies in 2025.
Higher than 30% of 11,521 companies in 2025.
Higher than 44% of 11,605 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
357,448 | 313,443 | 21,739 | |
21/28 |
16,854 | 10,101 | 2,402 | |
22/27 |
16,669 | 9,916 | 2,402 | |
24 |
16,669 | 9,916 | 2,402 | |
28 |
185 | 185 | - | |
29/58 |
340,594 | 303,343 | 19,336 | |
3 |
70,000 | - | - | |
30/36 |
70,000 | - | - | |
40/41 |
145,645 | 126,864 | 15,312 | |
40 |
106,705 | 89,046 | 11,422 | |
41 |
38,939 | 37,818 | 3,889 | |
54/58 |
115,204 | 171,798 | 2,859 | |
490/1 |
9,745 | 4,681 | 1,166 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
357,448 | 313,443 | 21,739 | |
10/15 |
89,612 | 56,969 | 5,699 | |
10/11 |
2,500 | 2,500 | 2,500 | |
14 |
87,112 | 54,469 | 3,199 | |
17/49 |
267,836 | 256,474 | 16,039 | |
42/48 |
267,836 | 256,474 | 16,039 | |
42 |
150,000 | 150,000 | - | |
44 |
101,543 | 94,193 | 15,139 | |
440/4 |
101,543 | 94,193 | 15,139 | |
45 |
16,293 | 12,281 | 900 | |
450/3 |
11,400 | 11,400 | 900 | |
454/9 |
4,893 | 881 | - | |
| Income statement | ||||
9900 |
90,910 | 84,020 | 4,339 | |
62 |
28,708 | 3,975 | - | |
630 |
5,696 | 2,542 | 218 | |
640/8 |
2,306 | 1,698 | - | |
9901 |
54,200 | 75,805 | 4,122 | |
75/76B |
917 | 360 | 0 | |
75 |
917 | 360 | 0 | |
65/66B |
7,583 | 4,474 | 23 | |
65 |
7,583 | 4,474 | 23 | |
9903 |
47,534 | 71,690 | 4,099 | |
67/77 |
14,891 | 20,421 | 900 | |
9904 |
32,643 | 51,270 | 3,199 | |
9905 |
32,643 | 51,270 | 3,199 | |
| Appropriation of the result | ||||
9906 |
87,112 | 54,469 | 3,199 | |
14P |
54,469 | 3,199 | - | |
| Document | ||||
The notes to these accounts have 6 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 12-10-2026.
2025 annual accounts filed 73 days after the deadline. Filed on 12 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00554282.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 59,896 | 78,347 | 4,339 | ||
| 38,339 | 53,812 | 3,417 | ||
| 12,449 | 10,241 | 2,620 | ||
| -56,594 | 168,939 | - | ||
| 72,758 | 46,868 | 3,297 | ||
| 25.1% | 18.2% | 26.2% | ||
| 1.27 | 1.18 | 1.21 | ||
| 1.01 | 1.18 | 1.21 | ||
| 2.99 | 4.50 | 2.81 | ||
| 36.4% | 90.0% | 56.1% | ||
| 9.1% | 16.4% | 14.7% | ||
| 7.90 | 17.51 | over 100 |
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 |
|---|---|---|---|
| Tangible fixed assets | €12,449 | €10,056 | €2,620 |
| Financial fixed assets | - | €185 | - |
| €5,696 | €2,542 | €218 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 29% lower than in 2024.
Debt's share of the balance-sheet total falls from 81.8% to 74.9%. Equity and debt are higher.
NDJ CONSTRUCT has no parent and no holdings in its annual accounts. VANDENBUSSCHE Nathan Jean-Paul Martin is the only director.
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
A deed published in both Dutch and French appears here once.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 12 June 2023, NDJ CONSTRUCT was incorporated as a private limited company by one natural person, with a starting capital of €2,500.12 The registered office moved to Sint-Genesius-Rode in 2024 and to Waterloo in 2026.34 VANDENBUSSCHE Nathan Jean-Paul Martin has served as director since 2023.5 Total assets went from €21,739 in 2023 to €357,448 in 2025.6
| Drève Richelle 161 registered office 1410 Waterloo |
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 0802.640.851
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