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NORTHCONSTRUCT

Active Private limited companyfounded 2021active for 5 yearsCorneille Peetersstraat 60, 1830 Machelen (Brab.)KBO/BCE: BE 0770.876.222
NORTHCONSTRUCT
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Overview

Lifetime

5 annual accounts with figures on one time axis
peak €113,067 (2023)
€89,668▲ 54.1%
peak €49,519 (2025)
€49,519▲ 63.8%
peak €157,287 (2025)
€157,287▲ 46.0%
€915,422▲ 307%
Board2 names since 2021
1 directorANTONYAN Lilit
Documentsfilings and deeds
24-09-202655 days late
2025micro format
Gross margin from €58,205 to €89,668Result from €30,238 to €49,519Equity from €107,768 to €157,287Debts from €224,896 to €915,422

Key points

from the 2025 annual accounts

Equity

€157,287 ▲ 46.0%

NORTHCONSTRUCT has made a profit in every financial year since 2021.

Turnover

≈ €470,000 estimated

The micro format states no turnover.

Debts

€915,422 85% of the balance sheet
Suppliers 2%Taxes and wages 7%Other 91%

Filings

5 annual accounts 4 late
AprilJune31 JulyOctober20222024

The 2022 accounts came latest: 199 days after the end of the period.

Position in the sector

€49,519

Higher net result than 87% of companies in construction of buildings. Sector median €8,554 · 9,452 companies.

Checked score

36
Weak
Financially stronger than 39% of micro companies in construction of buildings (NACE 41)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
5.9% Elevated
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).

About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 4.5% 01-2025: 4.4%▼ -0.1 percentage points vs 12-2024 02-2025: 4.4%● unchanged vs 01-2025 03-2025: 3.9%▼ -0.5 percentage points vs 02-2025 04-2025: 3.9%● unchanged vs 03-2025lowest value 05-2025: 4.0%▲ +0.1 percentage points vs 04-2025 06-2025: 4.0%● unchanged vs 05-2025 07-2025: 4.0%● unchanged vs 06-2025 08-2025: 4.7%▲ +0.7 percentage points vs 07-2025 09-2025: 4.8%▲ +0.1 percentage points vs 08-2025 10-2025: 4.8%● unchanged vs 09-2025 11-2025: 4.9%▲ +0.1 percentage points vs 10-2025 12-2025: 5.0%▲ +0.1 percentage points vs 11-2025 01-2026: 5.0%● unchanged vs 12-2025 02-2026: 5.0%● unchanged vs 01-2026 03-2026: 5.0%● unchanged vs 02-2026 04-2026: 5.0%● unchanged vs 03-2026 05-2026: 5.0%● unchanged vs 04-2026 06-2026: 5.0%● unchanged vs 05-2026 07-2026: 4.9%▼ -0.1 percentage points vs 06-2026 08-2026: 5.5%▲ +0.6 percentage points vs 07-2026 09-2026: 5.5%● unchanged vs 08-2026 10-2026: 5.9%▲ +0.4 percentage points vs 09-2026highest value 11-2026: 5.9%● unchanged vs 10-2026highest value

Financial strength
Weak

40-17equity 14.7% of total assets
3-11short-term debt 85.3% · cash 0.0%
75-5return on assets 4.6%

Score breakdown

raises risk
Liquidity: current ratio 1.17, cash €167
Last filed accounts filed 55 days late; 1 of the last 3 accounts late
Sector: Construction of residential and non-residential buildings (NACE 41)
Founded in 2021
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 41, micro). It does better than 22% of them on solvency, 5% on liquidity, 51% on profitability and 78% 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, 2,372 companies had the same profile as NORTHCONSTRUCT has now. Each dot stands for 6 companies, two years later.

96.6%
were still trading
1.4%
stopped another way
1.8%
went bankrupt
  • Small
  • 5 to 10 years old
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of NORTHCONSTRUCT itself is higher: 5.9% within 12 months. It rests on far more data about NORTHCONSTRUCT than the profile alone.

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 2,372 companies, not a prediction for NORTHCONSTRUCT. 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 €5,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms

Liquidity is tight, with a current ratio of 1.17 (1.45 in 2024), below the usual 1.5. Short-term debt is 85.3% and cash 0% of total assets. 85.3% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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.

Signals

Six signals.
raises risk
raises risk · Liquidity: current ratio 1.17, cash €167
NBB · annual accounts
raises risk · Last filed accounts filed 55 days late; 1 of the last 3 accounts late
NBB · filings
raises risk · Sector: Construction of residential and non-residential buildings (NACE 41)
KBO
raises risk · Founded in 2021
Companies of this age fail more often than older ones. How much that weighs depends on the rest of the company's profile.
KBO
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 9462 sector peers (2025).
NBB · sector comparison
Position among 9462 sector peers
Solvency
better than 22%
← weakest strongest →
raises risk · 2025 accounts filed 55 days late
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. 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 · 5 filings
Deviation from the deadline
2025
55 days late
2024
24 days late
2023
12 days late
2022
199 days late
2021
44 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 5 accounts on average 49 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% 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. The company usually files around 24 August (4 of the last 5 accounts filed within 68 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

AL
ANTONYAN Lilit
Director
  • ANTONYAN Lilit all the sharesdeed of 06-01-2022
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0770876222
Transfer of 100 shares from VINAMONT Joël to ANTONYAN Lilit Appointment: ANTONYAN Lilit (director) · Resignation: VINAMONT Joël (manager) · General meeting of 31-07-2021 · Gazette deed
Incorporation 100 shares · published on 09-07-2021 · Gazette deed
First establishment Corneille Peetersstraat 60, Machelen (Brab.)
All 12 events

Comparable companies

same main activity, similar in size and age
Company
NORTHCONSTRUCT Machelen (Brab.) €1.1m €89,668 14.7% -
Q-ZEN Wezembeek-Oppem €1.0m €90,795 9.9% -
SUERTE 2020 Holsbeek €1.3m €117,381 20.6% -
EA IMMO Halle €1.3m €87,448 -3.7% -
DIVA CONSTRUCT Asse €0.7m €104,001 3.7% -
HAPKA Kraainem €1.0m €121,970 17.8% -
ELGO RENOV Sint-Pieters-Leeuw €1.1m €119,791 -9.0% -

These companies have the same main activity as NORTHCONSTRUCT: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €733,000 and €1.3m, founded between 2019 and 2023.

Official details

Source: KBO
Status
Active since 07-07-2021Normal situation
Activity
General construction of residential buildingsNACE 41001
Establishment unit
2.320.974.7251830 Machelen (Brab.), since 07-07-2021
Financial year end
31 December
Peppol
Reachable since 27-12-2025
Company details

Annual accounts 2025

€89,668▲ 54.1%
€49,519▲ 63.8%
€157,287▲ 46.0%
€1.1m▲ 222%
Filing
Filed on 24-09-2026
Financials

Insights on NORTHCONSTRUCT

NORTHCONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €31,092 in 2021 to €89,668 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 24-09-2026, 55 days late
€89,668
▲ 54.1%
€67,766
▲ 73.5%
€49,519
▲ 63.8%
€153,827
▲ 51.1%
14.7%
▼ 17.7 percentage points
1.17
▼ 0.28

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 ≈ €470,000. Estimated: probably between €340,000 and €770,000.

Balance sheet

balance sheet total €1.1m on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

14.7%

Higher than 22% of 9,462 companies in 2025.

1.17

Higher than 30% of 9,210 companies in 2025.

4.6%

Higher than 43% of 9,282 companies in 2025.

NORTHCONSTRUCT Middle half of the sector 80% of the sector Micro accounts in construction of buildings (NACE 41)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter

Staff

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021
Balance sheet: assets
20/58 1.1m332,663330,861248,98343,063
21/28 3,4605,9809,97312,64212,570
22/27 3,4605,9809,97312,64212,570
24 3,4605,9809,97312,64212,570
29/58 1.1m326,684320,888236,34030,493
3 --3,500--
30/36 --3,500--
40/41 1.1m326,504313,372236,33729,832
40 83,289174,750134,92030,00014,460
41 985,794151,755178,452206,33715,372
54/58 1671804,0164661
Balance sheet: equity and liabilities
10/49 1.1m332,663330,861248,98343,063
10/15 157,287107,76877,53056,97733,827
10/11 10,00010,00010,00010,00010,000
14 147,28797,76867,53046,97723,827
17/49 915,422224,896253,331192,0069,236
42/48 915,422224,896253,331192,0069,236
44 19,850168,718168,528165,2083,279
440/4 19,850168,718168,528165,2083,279
46 -11,223---
45 64,85425,67562,24314,7895,957
450/3 56,01821,68435,39511,8215,957
454/9 8,8353,99126,8492,968-
47/48 830,71919,28122,56012,009-
Income statement
9900 89,66858,205113,067107,09231,092
62 18,00814,83378,74774,422-
630 3,7423,9943,9832,9141,258
640/8 1533222,579264-
9901 67,76639,05627,75829,49129,834
65/66B 2123041,27144951
65 2123041,27144951
9903 67,55438,75326,48729,04229,783
67/77 18,0348,5155,9345,8925,957
9904 49,51930,23820,55323,15023,827
9905 49,51930,23820,55323,15023,827
Appropriation of the result
9906 147,28797,76867,53046,97723,827
14P 97,76867,53046,97723,827-
Social balance sheet
9087 --21.3-
Hours worked1013 --2,1922,264-
Document PDFPDFPDFPDFPDF

The notes to these accounts have 7 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 24-09-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 55 days after the deadline. Filed on 24 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00522364.

Financial year Type Filed Reference Document
31-12-2025 micro format 24-09-2026 2026-00522364 PDF
31-12-2024 micro format 24-08-2025 2025-00400979 PDF
31-12-2023 micro format 12-08-2024 2024-00339660 PDF
31-12-2022 micro format 15-02-2024 2024-00030551 PDF
31-12-2021 micro format 17-06-2022 2022-20070345 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021
71,50743,05031,74132,40531,092
53,26134,23224,53626,06525,084
1,22201,3142,98713,828
-13-3,8364,012-657-
153,827101,78867,55744,33521,257
14.7%32.4%23.4%22.9%78.6%
1.171.451.271.233.30
1.171.451.251.233.30
5.822.093.273.370.27
31.5%28.1%26.5%40.6%70.4%
4.6%9.1%6.2%9.3%55.3%
over 100over 10024.9672.12over 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.

Social balance sheet

Item31-12-202331-12-2022
Employees at the balance-sheet date22
full-time22
part-time0-
in full-time equivalents22
21.3
On a permanent contract22
Joined-1
Left-0

Source: social balance sheet in the 2022 to 2023 annual accounts

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€1,222-€1,314€2,987€12,802
Intangible fixed assets----€1,026
€3,742€3,994€3,983€2,914€1,258

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on NORTHCONSTRUCT

The operating result for 2025 is 74% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.

Debt's share of the balance-sheet total rises from 67.6% to 85.3%. Equity and debt are higher.

Board & ownership

Board

1 director, no change since July 2021
ANTONYAN Lilit
Director
appointed by deed of 06-01-2022

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today
ANTONYAN Lilit
Director
VINAMONT Joël
Manager
BoardEarliermandate already running before its first mention
Mandates as a list
  • ANTONYAN Lilit
    • Director, appointed by deed of 06-01-2022, still in office
  • VINAMONT Joël
    • Manager, until 31-07-2021

See the board, name and registered office on a given date →

Control

Shares transferred to
ANTONYAN Lilit
This company
NORTHCONSTRUCT
Equity €157,287
Profit €49,519 in 2025

Capital

Contribution
€10,000
Shares
100
Contribution per share
€100
Equity per share
€1,573 in 2025
Source
2025 annual accounts

Articles of association

deed of 09-07-2021 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of June at 18:00

Shareholders

Share transfer deed of 06-01-2022 ↗

Network & group

No group

NORTHCONSTRUCT has no parent and no holdings in its annual accounts. ANTONYAN Lilit is the only director. NORTHCONSTRUCT shares no director with another company.

At the same address

Corneille Peetersstraat 60, 1830 Machelen · 6 other companies
PARALLELE GROUP
registered office since 15-09-2023 · founded in 2023
 total assets €382,777 (2025)
0805.908.662
AS CONSULT
registered office since 02-09-2020 · founded in 2020
 total assets €247,191 (2025)
0753.614.180
AS IMMOBILIERE GROUP
registered office since 01-09-2020 · founded in 2020
 total assets €127,150 (2025)
0753.541.629
A&G COMPANY
establishment since 04-04-2023 · founded in 2023
 total assets €22,534 (2025)
0800.411.732
MINA XL
registered office since 21-11-2025
 founded in 2025
1030.633.710
Hagop, Sako (sole trader)
establishment since 01-10-2014
 founded in 2014
0563.550.204

Timeline

Timeline

12 events since 2021

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 55 days late
2025
Highest result from 2021 to 2025 net €49,519 ▲63.8% The operating result of €67,766 and the net result of €49,519 are both a record.
Equity above €150,000 equity €157,287 ▲46% With a profit in every financial year since 2021, equity grows to €157,287.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0770876222
Annual accounts 2024 filed PDFmicro format · 24 days late
2024
Equity above €100,000 equity €107,768 ▲39% With a profit in every financial year since 2021, equity grows to €107,768.
Annual accounts 2023 filed PDFmicro format · 12 days late
Annual accounts 2022 filed PDFmicro format · 199 days late
2022
Annual accounts 2021 filed PDFmicro format · 44 days before the deadline
Transfer of 100 shares from VINAMONT Joël to ANTONYAN LilitAppointment: ANTONYAN Lilit (director) · Resignation: VINAMONT Joël (manager) · General meeting of 31-07-20214 points ▸

Open the deed in the Belgian Official Gazette

2021
Incorporation100 shares · published on 09-07-20211 point ▸
  • 100 shares

Open the deed in the Belgian Official Gazette

First establishment Corneille Peetersstraat 60, Machelen (Brab.)

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

NORTHCONSTRUCT was incorporated on 7 July 2021 as a private limited company.1 ANTONYAN Lilit is director of the company, appointed by deed of 06-01-2022.2 Total assets rose from €43,063 in 2021 to €1.1m in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 06-01-2022
  3. 3National Bank, annual accounts 2021 and 2025

Company details

Identity

Enterprise number
0770.876.222
VAT number
BE 0770.876.222
Peppol ID
0208:0770876222
Legal form
Private limited company
Status
Active, normal situation
Founded
07-07-2021
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of June at 18:00
deed of 09-07-2021 (in Dutch)
Peppol
Reachable since 27-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
NORTHCONSTRUCT in Dutch
Trade name
Besloten Vennootschap in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 09-07-2021 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 09-07-2021 (in Dutch)

Activities

NACEBEL 2025
VAT activities
41001 General construction of residential buildings main activity
Social security (RSZ) activities
41001 General construction of residential buildings main activity
Codes under NACEBEL 2008
41201 General construction of buildings main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“De uitvoering van algemene bouwwerken,zonder beperking,aannemingsbedrijf inbegrepen zoals bijvoorbeeld zonder dat dit een beperking zou…”
5 activities
  1. De uitvoering van algemene bouwwerken,zonder beperking,aannemingsbedrijf inbegrepen zoals bijvoorbeeld zonder dat dit een beperking zou vormen : schoonmaak,onderhoud en ontsmetting van meubelen en diverse voorwerpen alsook van commerciële en industriële lokalen,kantoren,reinigen van ramen,gevels,onderhoud van tuinen en parken,ontsmetting en ongediertebestrijding
  2. Onderneming in elektrische installatie,loodgieterij en sanitair,gasverwarming en zinkfabriek,bedekkingsbedrijf van houten en PVC kroonlijsten,dichtheidswerken en bouw bedekking met asfalt en bitumen,thermische en akoestische isolatie,cement- en pleisterwerken,alsook het gebruik van alle andere coatings
  3. Algemene reiniging van gebouwen,industriële reiniging
  4. Reinigen van het interieur van allerlei gebouwen : kantoren,fabrieken,werkplaatsen,allerlei gebouwen,appartementsgebouwen,enz.
  5. Bouwadviseur
deed of 09-07-2021 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Corneille Peetersstraat 60 registered office 1830 Machelen (Brab.) 07-07-2021 2.320.974.725

Buildings and parcels at the address

Ground area
304 m²
Buildings
116 m²
Volume, LiDAR
779 m³
Tallest building
10.9 m
Buildings to scale, each on its own parcel
116 m², 10.8 m 116 m², 10.8 m

Location

registered office establishment The establishment unit on the map
7 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
23047C0211/00L000304 m² 1 · 116 m² 10.8 m · 3

Invoicing and payment

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 0770.876.222

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