NORTHCONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of NORTHCONSTRUCT is 1.8% (moderate). The 2025 annual accounts show equity of €157,287 and a net result of €49,519. Equity is growing by ~44.2% per year across the filed fiscal years. Its solvency ranks better than 21% of 7524 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-5
Solvency40▼-17
Growth78=
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity tight (current ratio 1.17 against 1.45 in 2024; short-term debt: 85.3% and cash: 0% of total assets), and 85.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.7%
Return on assets
4.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 7524 sector peers (2025).
NBB · sector comparisonPosition among 7524 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
55 d late
2024
24 d late
2023
12 d late
2022
199 d late
2021
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 49 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Equity
€157,287▲ 46.0%
2024 · €107,768
Total assets
€1.1m▲ 222%
2024 · €332,663
Net result
€49,519▲ 63.8%
2024 · €30,238
Working capital
€153,827▲ 51.1%
2024 · €101,788
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€29,834-€29,491▼ 1.2%€27,758▼ 5.9%€39,056▲ 40.7%€67,766▲ 73.5%
Net result€23,827-€23,150▼ 2.8%€20,553▼ 11.2%€30,238▲ 47.1%€49,519▲ 63.8%
Equity€33,827-€56,977▲ 68.4%€77,530▲ 36.1%€107,768▲ 39.0%€157,287▲ 46.0%
Total assets€43,063-€248,983▲ 478%€330,861▲ 32.9%€332,663▲ 0.5%€1.1m▲ 222%
Debt€9,236-€192,006▲ 1,979%€253,331▲ 31.9%€224,896▼ 11.2%€915,422▲ 307%
Working capital€21,257-€44,335▲ 109%€67,557▲ 52.4%€101,788▲ 50.7%€153,827▲ 51.1%
Staff (FTE)1.32▲ 53.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 74% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€3,460 ▼ 42.1%
Current assets
€1.1m ▲ 227%
Equity and liabilities €1.1m
Equity
€157,287 ▲ 46.0%
Debt
€915,422 ▲ 307%
Debt's share of the balance-sheet total rises from 67.6% to 85.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€71,507▲
2024 · €43,050
Cash flow
€53,261▲
2024 · €34,232
Current ratio
1.17▼
2024 · 1.45
Debt to equity
5.82▲
2024 · 2.09
ROE
31.5%▲
2024 · 28.1%
ROA
4.6%▼
2024 · 9.1%
Interest coverage
337.09▲
2024 · 141.85
Debt ≤ 1 year
€915,422▲
2024 · €224,896
Income taxes
€18,034▲
2024 · €8,515
Staff costs
€18,008▲
2024 · €14,833
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €74,422 | €78,747 | €14,833 | €18,008 | ▲ 21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,258 | €2,914 | €3,983 | €3,994 | €3,742 | ▼ 6.3% |
| Other operating charges640/8 | - | €264 | €2,579 | €322 | €153 | ▼ 52.6% |
| Gross operating margin9900 | €31,092 | €107,092 | €113,067 | €58,205 | €89,668 | ▲ 54.1% |
| Operating profit (loss)9901 | €29,834 | €29,491 | €27,758 | €39,056 | €67,766 | ▲ 73.5% |
| Financial charges65/66B | €51 | €449 | €1,271 | €304 | €212 | ▼ 30.1% |
| Recurring financial charges65 | €51 | €449 | €1,271 | €304 | €212 | ▼ 30.1% |
| Profit (loss) for the period before taxes9903 | €29,783 | €29,042 | €26,487 | €38,753 | €67,554 | ▲ 74.3% |
| Income taxes67/77 | €5,957 | €5,892 | €5,934 | €8,515 | €18,034 | ▲ 112% |
| Profit (loss) for the period9904 | €23,827 | €23,150 | €20,553 | €30,238 | €49,519 | ▲ 63.8% |
| Profit (loss) for the period to be appropriated9905 | €23,827 | €23,150 | €20,553 | €30,238 | €49,519 | ▲ 63.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €43,063 | €248,983 | €330,861 | €332,663 | €1.1m | ▲ 222% |
| Fixed assets21/28 | €12,570 | €12,642 | €9,973 | €5,980 | €3,460 | ▼ 42.1% |
| Tangible fixed assets22/27 | €12,570 | €12,642 | €9,973 | €5,980 | €3,460 | ▼ 42.1% |
| Furniture and vehicles24 | €12,570 | €12,642 | €9,973 | €5,980 | €3,460 | ▼ 42.1% |
| Current assets29/58 | €30,493 | €236,340 | €320,888 | €326,684 | €1.1m | ▲ 227% |
| Stocks and contracts in progress3 | - | - | €3,500 | - | - | - |
| Stocks30/36 | - | - | €3,500 | - | - | - |
| Amounts receivable within one year40/41 | €29,832 | €236,337 | €313,372 | €326,504 | €1.1m | ▲ 227% |
| Trade receivables40 | €14,460 | €30,000 | €134,920 | €174,750 | €83,289 | ▼ 52.3% |
| Other amounts receivable41 | €15,372 | €206,337 | €178,452 | €151,755 | €985,794 | ▲ 550% |
| Cash at bank and in hand54/58 | €661 | €4 | €4,016 | €180 | €167 | ▼ 7.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €43,063 | €248,983 | €330,861 | €332,663 | €1.1m | ▲ 222% |
| Equity10/15 | €33,827 | €56,977 | €77,530 | €107,768 | €157,287 | ▲ 46.0% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €23,827 | €46,977 | €67,530 | €97,768 | €147,287 | ▲ 50.7% |
| Amounts payable17/49 | €9,236 | €192,006 | €253,331 | €224,896 | €915,422 | ▲ 307% |
| Amounts payable within one year42/48 | €9,236 | €192,006 | €253,331 | €224,896 | €915,422 | ▲ 307% |
| Trade debts44 | €3,279 | €165,208 | €168,528 | €168,718 | €19,850 | ▼ 88.2% |
| Suppliers440/4 | €3,279 | €165,208 | €168,528 | €168,718 | €19,850 | ▼ 88.2% |
| Advances received on contracts in progress46 | - | - | - | €11,223 | - | - |
| Taxes, remuneration and social security45 | €5,957 | €14,789 | €62,243 | €25,675 | €64,854 | ▲ 153% |
| Taxes450/3 | €5,957 | €11,821 | €35,395 | €21,684 | €56,018 | ▲ 158% |
| Remuneration and social security454/9 | - | €2,968 | €26,849 | €3,991 | €8,835 | ▲ 121% |
| Other amounts payable47/48 | - | €12,009 | €22,560 | €19,281 | €830,719 | ▲ 4,209% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,827 | €23,150 | €20,553 | €30,238 | €49,519 | ▲ 63.8% |
| + Depreciation and write-downs630 | €1,258 | €2,914 | €3,983 | €3,994 | €3,742 | ▼ 6.3% |
| Operating cash flow (approximation) | €25,084 | €26,065 | €24,536 | €34,232 | €53,261 | ▲ 55.6% |
| Investment in fixed assets (approximation) | - | -€2,987 | -€1,314 | €0 | -€1,222 | - |
| Change in cash | - | -€657 | €4,012 | -€3,836 | -€13 | ▲ 99.7% |
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
24-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 55 days late
2025
31-12
Financial
Highest result since 2021net €49,519 ▲63.8%
Operating result €67,766, net result €49,519, both a record.
31-12
Financial
Equity above €150,000Eq €157,287 ▲46%
5 profitable years in a row build equity to €157,287.
24-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 24 days late
2024
31-12
Financial
Equity above €100,000Eq €107,768 ▲39%
4 profitable years in a row build equity to €107,768.
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
15-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 199 days late
2023
31-12
Financial
Weakest financial yearnet €20,553 ▼11.2%
Net result drops to €20,553, the lowest in the series; recovery starts the following year.
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro 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, Machelen (Brab.) · 1 establishment unit since 2021
Ground area
304 m²
Building footprint
116 m²
Volume, LiDAR
779 m³
Parcel 23047C0211/00L000, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
NORTHCONSTRUCT
since 20212.320.974.725
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23047C0211/00L000 | Flanders | 304 m² | 1 · 116 m² | 10.8 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.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,039. 12,572 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
Founded07-07-2021
Fiscal year end31-12
Trade name NL
Besloten Vennootschap
Activities, NACEBEL 2025
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.