PARTNER CONSTRUCT
ActiveSummary
PARTNER CONSTRUCT has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €49,423 and a net result of -€14,730. Equity is growing by ~31.3% per year across the filed fiscal years. Its solvency ranks better than 45% of 2213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability6▼-20
Solvency58▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 1.71 against 2.0 in 2024; short-term debt: 30.5% of total assets), but 66.5% 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 · 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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
33.5%
Return on assets
-10%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€14,730
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
30 d late
2023
5 d early
2022
35 d early
2021
48 d early
2020
31 d early
2019
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 16 days before 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€49,423▼ 23.0%
2024 · €64,153
Total assets
€147,586▼ 26.1%
2024 · €199,649
Net result
-€14,730▼ 48.8%
2024 · -€9,897
Working capital
€31,983▼ 45.4%
2024 · €58,626
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€24,380€66,945▲ 175%-€6,570-€6,572=-€12,368▼ 88.2%
Net result€24,096€58,381▲ 142%-€9,229-€9,897▼ 7.2%-€14,730▼ 48.8%
Equity€27,898▲ 634%€83,278▲ 199%€74,049▼ 11.1%€64,153▼ 13.4%€49,423▼ 23.0%
Total assets€70,246▲ 49.5%€145,032▲ 106%€250,597▲ 72.8%€199,649▼ 20.3%€147,586▼ 26.1%
Debt€42,348▼ 2.0%€61,754▲ 45.8%€176,547▲ 186%€135,497▼ 23.3%€98,163▼ 27.6%
Working capital€61,487▲ 83.1%€117,549▲ 91.2%€81,084▼ 31.0%€58,626▼ 27.7%€31,983▼ 45.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €12,368 in 2025 against €6,572 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €147,586
Fixed assets
€70,554 ▼ 14.4%
Current assets
€77,032 ▼ 34.3%
Equity and liabilities €147,586
Equity
€49,423 ▼ 23.0%
Debt
€98,163 ▼ 27.6%
Debt's share of the balance-sheet total falls from 67.9% to 66.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€503▼
2024 · €5,293
Cash flow
-€2,865▼
2024 · €1,968
Current ratio
1.71▼
2024 · 2.00
Quick ratio
1.60▼
2024 · 1.92
Debt to equity
1.99▼
2024 · 2.11
ROE
-29.8%▼
2024 · -15.4%
ROA
-10.0%▼
2024 · -5.0%
Interest coverage
-0.19▼
2024 · 1.59
Debt ≤ 1 year
€45,049▼
2024 · €58,604
Debt > 1 year
€53,114▼
2024 · €76,892
Staff costs
€180▲
2024 · €165
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,304 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €15,000 | - | - | - |
| Remuneration, social security and pensions62 | - | €145 | €160 | €165 | €180 | ▲ 9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,003 | €3,487 | €17,163 | €11,865 | €11,865 | = |
| Other operating charges640/8 | €5,607 | €1,575 | €919 | €1,638 | €1,718 | ▲ 4.9% |
| Gross operating margin9900 | €36,990 | €72,151 | €11,671 | €7,096 | €1,395 | ▼ 80.3% |
| Operating profit (loss)9901 | €24,380 | €66,945 | -€6,570 | -€6,572 | -€12,368 | ▼ 88.2% |
| Financial income75/76B | €61 | €1,012 | €13 | €9 | €322 | ▲ 3,470% |
| Recurring financial income75 | €61 | €1,012 | €13 | €9 | €322 | ▲ 3,470% |
| Financial charges65/66B | €345 | €240 | €2,672 | €3,334 | €2,683 | ▼ 19.5% |
| Recurring financial charges65 | €345 | €240 | €2,672 | €3,334 | €2,683 | ▼ 19.5% |
| Profit (loss) for the period before taxes9903 | €24,096 | €67,717 | -€9,229 | -€9,897 | -€14,730 | ▼ 48.8% |
| Income taxes67/77 | - | €9,336 | - | - | - | - |
| Profit (loss) for the period9904 | €24,096 | €58,381 | -€9,229 | -€9,897 | -€14,730 | ▼ 48.8% |
| Profit (loss) for the period to be appropriated9905 | €24,096 | €58,381 | -€9,229 | -€9,897 | -€14,730 | ▼ 48.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €70,246 | €145,032 | €250,597 | €199,649 | €147,586 | ▼ 26.1% |
| Fixed assets21/28 | €5,586 | €4,905 | €94,284 | €82,419 | €70,554 | ▼ 14.4% |
| Tangible fixed assets22/27 | €5,586 | €4,661 | €94,040 | €82,174 | €70,309 | ▼ 14.4% |
| Land and buildings22 | €963 | - | - | - | - | - |
| Plant, machinery and equipment23 | €4,623 | €2,398 | €2,232 | €1,474 | €716 | ▼ 51.4% |
| Furniture and vehicles24 | - | €2,262 | €91,808 | €80,700 | €69,593 | ▼ 13.8% |
| Financial fixed assets28 | - | €245 | €245 | €245 | €245 | = |
| Current assets29/58 | €64,660 | €140,127 | €156,313 | €117,230 | €77,032 | ▼ 34.3% |
| Stocks and contracts in progress3 | €9,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Stocks30/36 | €9,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Amounts receivable within one year40/41 | €20,852 | €81,529 | €134,922 | €93,535 | €72,032 | ▼ 23.0% |
| Trade receivables40 | €20,554 | €72,500 | €124,789 | €85,217 | €57,990 | ▼ 32.0% |
| Other amounts receivable41 | €298 | €9,029 | €10,133 | €8,318 | €14,042 | ▲ 68.8% |
| Cash at bank and in hand54/58 | €34,808 | €51,483 | €16,390 | €18,696 | - | - |
| Deferred charges and accrued income490/1 | - | €2,115 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €70,246 | €145,032 | €250,597 | €199,649 | €147,586 | ▼ 26.1% |
| Equity10/15 | €27,898 | €83,278 | €74,049 | €64,153 | €49,423 | ▼ 23.0% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | - | €21,278 | €21,278 | €21,278 | €21,278 | = |
| Distributable reserves133 | - | €21,278 | €21,278 | €21,278 | €21,278 | = |
| Profit (loss) carried forward14 | -€34,102 | - | -€9,229 | -€19,126 | -€33,856 | ▼ 77.0% |
| Amounts payable17/49 | €42,348 | €61,754 | €176,547 | €135,497 | €98,163 | ▼ 27.6% |
| Amounts payable after more than one year17 | €39,176 | €39,176 | €101,319 | €76,892 | €53,114 | ▼ 30.9% |
| Financial debts170/4 | €39,176 | €39,176 | €101,319 | €76,892 | €53,114 | ▼ 30.9% |
| Amounts payable within one year42/48 | €3,172 | €22,578 | €75,229 | €58,604 | €45,049 | ▼ 23.1% |
| Current portion of amounts payable after more than one year42 | - | - | €16,956 | €17,708 | €18,494 | ▲ 4.4% |
| Financial debts43 | - | - | - | - | €701 | - |
| Credit institutions430/8 | - | - | - | - | €701 | - |
| Trade debts44 | €1,988 | €7,616 | €53,528 | €40,790 | €25,854 | ▼ 36.6% |
| Suppliers440/4 | €1,988 | €7,616 | €53,528 | €40,790 | €25,854 | ▼ 36.6% |
| Taxes, remuneration and social security45 | €1,184 | €5,836 | €1,524 | €106 | - | - |
| Taxes450/3 | €1,184 | €5,836 | €1,524 | €106 | - | - |
| Other amounts payable47/48 | - | €9,126 | €3,221 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,096 | €58,381 | -€9,229 | -€9,897 | -€14,730 | ▼ 48.8% |
| + Depreciation and write-downs630 | €7,003 | €3,487 | €17,163 | €11,865 | €11,865 | = |
| Operating cash flow (approximation) | €31,099 | €61,868 | €7,934 | €1,968 | -€2,865 | ▼ 246% |
| Investment in fixed assets (approximation) | - | -€2,806 | -€106,542 | €0 | €0 | - |
| Change in cash | - | €16,675 | -€35,093 | €2,305 | - | - |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €58,381 ▲142%
Operating result €66,945, net result €58,381, both a record.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €24,096
Net result €24,096 after 3 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 20.38
Current ratio from 9.35 to 20.38; short-term debt falls from €4,023 to €3,172.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity triplescurrent ratio 9.35
Current ratio from 2.75 to 9.35; short-term debt falls from €10,757 to €4,023.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity doublescurrent ratio 2.75
Current ratio from 1.34 to 2.75; short-term debt falls from €39,964 to €10,757.
Show earlier events
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Dendermonde · 1 establishment unit since 1990
Ground area
3,165 m²
Building footprint
668 m²
Volume, LiDAR
3,821 m³
2 parcels, Flanders · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Steenweg van Grembergen 65, 9200 Dendermonde
since 19902.043.572.541
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42007A1120/00A000 | Flanders | 2,140 m² | 1 · 414 m² | 12.3 m · 3 fl. |
| 42007B0548/00L000 | Flanders | 1,025 m² | 1 · 254 m² | 7.3 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 16,042. 13,077 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
Founded21-05-1989
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437484549
Also
9925:BE0437484549
Registered
12-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.