Equity
Equity fell by 47% in 2 years.
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Equity fell by 47% in 2 years.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
The last five annual accounts were filed 2 to 58 days before the end of the period.
In July 2024, 4,805 companies had the same profile as NIC CONSTRUCT has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
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 4,805 companies, not a prediction for NIC 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.
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| Company | ||||
|---|---|---|---|---|
| NIC CONSTRUCT Oudenaarde | €64,362 | -€23,279 | 69.5% | - |
| EVEREST ECOSYSTEMS Ghent | €54,318 | -€98,948 | 98.3% | - |
| DE WITTE IMMOBILIËN Merelbeke-Melle | €79,479 | -€8,863 | 97.7% | - |
| UNION TEAM BUILDING Sint-Martens-Latem | €74,693 | -€119 | 66.7% | - |
| PATRIMOINE PROMOTION CONSTRUCTION Soumagne | €71,729 | -€195,320 | -338.3% | - |
| DNG Sint-Truiden | €64,030 | -€3,749 | -398.3% | - |
| BESIMO Namur | €67,027 | -€2,272 | 56.5% | - |
These companies have the same main activity as NIC CONSTRUCT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €54,300 and €79,500, founded between 2005 and 2009.
NIC CONSTRUCT files the micro format. That format states no turnover. The gross margin fell from €6,271 in 2008 to -€23,279 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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