NSE CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of NSE CONSTRUCT is 1.9% (moderate). The 2025 annual accounts show negative equity (-€119,278) and a net result of €10,657. Equity has been shrinking by about 26% per year since 2023. Its solvency ranks better than 5% of 9,415 sector peers (NACE 41, financial year 2025). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 03-07-2013 Normal situation
- Activity
- General construction of residential buildings NACE 41001
- Establishment unit
- 2.221.024.836 7133 Binche, since 19-08-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 06-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.9%
- Gross margin
- €57,342
- ▼ 29.4%
- Turnover
- ≈ €300,000
- estimated
- Profit
- €10,657
- Equity
- -€119,278
- ▲ 8.2%
- Total assets
- €114,604
- ▼ 46.0%
- Employees on 31-12-2025
- 1
- ▼ 50.0%
- Negative equity on 31-12-2025
Score breakdownraises riskSector: Construction of residential and non-residential buildings (NACE 41)2 of the last 3 accounts lateNegative equity -€119,278lowers riskSize: total assets €114,604Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 3% of them on solvency, 10% on liquidity, 27% on profitability and 51% on growth.
The bankruptcy probability was computed on 04-11-2026 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 42 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)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 11-06-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is a profit of €15,448, after a loss of €63,258 in 2024. It is the highest result since 2023.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 10 | 2 | 1 |
| full-time | 10 | 2 | 1 |
| in full-time equivalents | 10 | 2 | 1 |
| Average over the year, in full-time equivalents | 7.3 | 5.6 | 1.3 |
| On a permanent contract | 6 | 1 | 1 |
| Joined | 7 | 3 | 1 |
| Left | 5 | 11 | 2 |
| Training hours | 3,092 | 2,120 | 480 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Securities and guarantees
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Mortgages, amount registered | €80,000 | - | - |
| Carrying value of the mortgaged assets | €0 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €1,062 | €1,752 | - |
| Depreciation and write-downs of the year | €12,676 | €6,229 | €6,227 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Turnover70 | €713,688 | - | - | - |
| Non-recurring operating income76A | €3,306 | €6,639 | - | - |
| Goods, raw materials, services and sundry goods60/61 | €512,554 | - | - | - |
| Remuneration, social security and pensions62 | €220,911 | €124,817 | €13,799 | ▼ 88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,676 | €6,229 | €6,227 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €4,477 | - | €5,445 | - |
| Other operating charges640/8 | €3,462 | €13,412 | €16,423 | ▲ 22.5% |
| Operating charges capitalised as restructuring costs649 | - | €0 | €0 | - |
| Gross operating margin9900 | €233,110 | €81,201 | €57,342 | ▼ 29.4% |
| Operating profit (loss)9901 | -€8,415 | -€63,258 | €15,448 | - |
| Financial income75/76B | €811 | €353 | €6,294 | ▲ 18× |
| Recurring financial income75 | €811 | €353 | €6,294 | ▲ 18× |
| Financial charges65/66B | €8,825 | €9,982 | €10,873 | ▲ 8.9% |
| Recurring financial charges65 | €8,825 | €9,982 | €10,873 | ▲ 8.9% |
| Profit (loss) for the period before taxes9903 | -€16,430 | -€72,886 | €10,868 | - |
| Income taxes67/77 | €250 | €234 | €211 | ▼ 9.9% |
| Profit (loss) for the period9904 | -€16,680 | -€73,121 | €10,657 | - |
| Profit (loss) for the period to be appropriated9905 | -€16,680 | -€73,121 | €10,657 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €317,124 | €212,071 | €114,604 | ▼ 46.0% |
| Formation expenses20 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €22,549 | €7,911 | €1,684 | ▼ 78.7% |
| Tangible fixed assets22/27 | €21,988 | €7,350 | €1,123 | ▼ 84.7% |
| Plant, machinery and equipment23 | €937 | €724 | €512 | ▼ 29.3% |
| Furniture and vehicles24 | €21,051 | €6,625 | €611 | ▼ 90.8% |
| Financial fixed assets28 | €561 | €561 | €561 | = |
| Current assets29/58 | €294,575 | €204,160 | €112,920 | ▼ 44.7% |
| Amounts receivable within one year40/41 | €229,909 | €160,473 | €71,238 | ▼ 55.6% |
| Trade receivables40 | €229,189 | €150,891 | €71,238 | ▼ 52.8% |
| Other amounts receivable41 | €720 | €9,582 | - | - |
| Current investments50/53 | €30,033 | €30,145 | €30,460 | ▲ 1.0% |
| Cash at bank and in hand54/58 | €29,740 | €13,003 | €10,119 | ▼ 22.2% |
| Deferred charges and accrued income490/1 | €4,893 | €539 | €1,103 | ▲ 104% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €317,124 | €212,071 | €114,604 | ▼ 46.0% |
| Equity10/15 | -€56,815 | -€129,935 | -€119,278 | ▲ 8.2% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €41,860 | €41,860 | €41,860 | = |
| Non-distributable reserves130/1 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | - | - | - |
| Distributable reserves133 | €40,000 | €41,860 | €41,860 | = |
| Profit (loss) carried forward14 | -€104,875 | -€177,995 | -€167,338 | ▲ 6.0% |
| Amounts payable17/49 | €373,939 | €342,006 | €233,883 | ▼ 31.6% |
| Amounts payable after more than one year17 | €52,249 | €40,961 | €34,805 | ▼ 15.0% |
| Financial debts170/4 | €52,249 | €40,961 | €34,805 | ▼ 15.0% |
| Amounts payable within one year42/48 | €321,690 | €300,865 | €198,891 | ▼ 33.9% |
| Current portion of amounts payable after more than one year42 | €13,066 | €11,288 | €6,156 | ▼ 45.5% |
| Trade debts44 | €233,817 | €188,170 | €136,186 | ▼ 27.6% |
| Suppliers440/4 | €233,817 | €188,170 | €136,186 | ▼ 27.6% |
| Taxes, remuneration and social security45 | €68,046 | €86,454 | €26,388 | ▼ 69.5% |
| Taxes450/3 | €27,358 | €42,183 | €10,939 | ▼ 74.1% |
| Remuneration and social security454/9 | €40,688 | €44,270 | €15,448 | ▼ 65.1% |
| Other amounts payable47/48 | €6,760 | €14,953 | €30,161 | ▲ 102% |
| Accrued charges and deferred income492/3 | - | €181 | €188 | ▲ 3.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,680 | -€73,121 | €10,657 | - |
| + Depreciation and write-downs630 | €12,676 | €6,229 | €6,227 | = |
| Operating cash flow (approximation) | -€4,004 | -€66,891 | €16,884 | - |
| Investment in fixed assets (approximation) | - | €8,409 | €0 | ▼ 100% |
| Change in cash | - | -€16,737 | -€2,884 | ▲ 82.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,632 companies had the same profile as NSE CONSTRUCT has now. Two years later, 91.9% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NSE CONSTRUCT itself: 1.9% within 12 months.
Test of the method
The method was tested on the 497,446 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 3,632 companies, not a prediction for NSE 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.
Board & ownership
Directors
Owners and capital
Capital transactions
- 08-01-2024 Capital stated in the deed · 100 shares
Mandate history
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Noémy STEENSMA |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
Articles of association, deed of 08-01-2024 (in French)
Network & group
NSE CONSTRUCT shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of NSE CONSTRUCT. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
08-01
Gazette deed
Registered office moved to Mont-Sainte-GenevieveNew registered office: Rue de Binche, 51–6540 MONT-SAINTE-GENEVIEVE (LOBBES) · Change of role: Noémy STEENSMA, from manager to director · “L’activité d’entreprise générale en construction et en rénovation, de gros-oeuvre et de mise sous toit, de…” (deed in French)5 points ▸
- General meeting, 28-12-2023
- 100 shares
- Director resignation, Noémy STEENSMA (manager)
- Director appointment, Noémy STEENSMA (director (not named in the articles))
- Registered-office move, Rue de Binche, 51–6540 MONT-SAINTE-GENEVIEVE (LOBBES)
- The deed holds 6 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
19 activities
- L’activité d’entreprise générale en construction et en rénovation, de gros-oeuvre et de mise sous toit, de plafonnage, de cimenterie, de maçonnerie, de coffrage, de ferraillage, de peinture, de carrelage, de rejointoiement, d’isolation des murs et des sols et autres
- Toutes opérations se rapportant directement ou indirectement à l'entretien, la rénovation, les travaux de réparations, d'embellissements, de renouvellement et de modernisation, et la maintenance de tous les types d'ouvrages d'art, de biens immeubles, et plus généralement toutes opérations se rapportant directement ou indirectement aux secteurs des travaux publics et privés et du bâtiment
- L’étude et la réalisation de tous travaux de construction, publics et privés, en qualité d’entrepreneur général ou en sous-traitance, la conception et la construction de tous bâtiments et édifices, l’étude et la réalisation de décorations, tant intérieures qu’extérieures
- Les activités liées à la construction et à la rénovation des bâtiments, à l’installation de sanitaires, de systèmes de chauffage et de plomberie, aux installations électriques et de systèmes de sécurité et d’alarme
- Le commerce de détail de tous matériels et matériaux se rapportant à ces activités
- L’activité d’entreprise de démolition et d’étanchéité des constructions, de terrassement, d’asphaltage et bitumage, pose de parquets et cloisons
- La prise en considération de tous travaux concernant la distribution de l'eau, du gaz, de l'électricité, etc., l'établissement et l'exploitation de tous moyens de transport, ports, canaux, routes, etc.
- Tous travaux de fouilles et d’aménagements des abords, la pose de toutes canalisations, égouts, chapes et clôtures
- La pose de toutes piscines, abris et dispositifs de jardin, aires de jeux et autres
- L’entreprise de charpenterie, de couverture de bâtiments, d’ardoiserie et de menuiserie du bâtiment (bois, aluminium, Pvc...)
- L’activité de zinguerie et de couverture métallique de construction, l’entreprise de vitrage
- L’activité de nettoyage et de maintenance industriels et privés
- L’activité de ferronnerie et placement
- La préparation, la rédaction et la conclusion en tant que mandataire ou pour compte propre, de tous marchés de travaux publics ou privés ou de fournitures, et faire toutes opérations se rattachant à ces objets
- La prestation de conseils et d'assistance tant au point de vue technique qu'administratif et commercial à toutes sociétés et entreprises, pour tout ce qui concerne le secteur des biens immobiliers
- L'acquisition de tous terrains, la construction de tous bâtiments publics et particuliers, l'achat, la vente, la location, la division et le lotissement de tous immeubles
- L'achat, la vente, la location, l'importation, l'exportation de tous matériaux, marchandises, appareils et outillages nécessaires aux travaux de construction, d'entretien, de maintenance, de réparation et de renouvellement des ouvrages d'art et bâtiments
- Le placement de panneaux solaires/photovoltaïques
- L’activité de marchand de biens et la promotion immobilière
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 0536.383.373
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 56056A0471/00A000 | Wallonia | 3,976 m² | 1 · 150 m² | 13.3 m · 2 |
| 56014A0532/00G000 | Wallonia | 1,376 m² | 1 · 178 m² | 8.5 m · 2 |