POWER CONSTRUCT
ActiveSummary
POWER CONSTRUCT has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €342,615 and a net result of €31,350. Equity is growing by ~12.1% per year across the filed fiscal years. Its solvency ranks better than 52% of 7930 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability61▲+17
Solvency71▲+4
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 2.01 against 4.16 in 2024; short-term debt: 13.8% and cash: 8.8% of total assets), but 54.2% 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
45.8%
Return on assets
4.2%
Age of the figures
9 mo
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
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
11 d late
2023
21 d late
2022
39 d late
2021
90 d late
2020
11 d late
2019
199 d late
← 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 52 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check 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 Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, abbreviated schema
Equity
€342,615▼ 0.8%
2024 · €345,351
Total assets
€747,549▼ 8.8%
2024 · €819,368
Net result
€31,350▲ 901%
2024 · €3,133
Working capital
€104,580▼ 39.4%
2024 · €172,475
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€149,952▲ 62.2%€164,046▲ 9.4%€33,381▼ 79.7%€45,478▲ 36.2%€46,197▲ 1.6%
Net result€74,411above the sector's middle half▲ 79.6%€28,664above the sector's middle half▼ 61.5%€5,225within the sector's middle half▼ 81.8%€3,133within the sector's middle half▼ 40.0%€31,350within the sector's middle half▲ 901%
Equity€286,643above the sector's middle half▲ 35.1%€338,887above the sector's middle half▲ 18.2%€342,219above the sector's middle half▲ 1.0%€345,351above the sector's middle half▲ 0.9%€342,615within the sector's middle half▼ 0.8%
Total assets€479,412above the sector's middle half▲ 42.0%€836,239above the sector's middle half▲ 74.4%€888,889above the sector's middle half▲ 6.3%€819,368above the sector's middle half▼ 7.8%€747,549within the sector's middle half▼ 8.8%
Debt€192,769▲ 53.8%€485,358▲ 152%€535,309▲ 10.3%€462,655▼ 13.6%€404,933▼ 12.5%
Working capital€202,492above the sector's middle half▲ 262%€137,476above the sector's middle half▼ 32.1%€96,464above the sector's middle half▼ 29.8%€172,475above the sector's middle half▲ 78.8%€104,580within the sector's middle half▼ 39.4%
Solvency59.8%within the sector's middle half▼ 3.1pp40.5%within the sector's middle half▼ 19.3pp38.5%within the sector's middle half▼ 2.0pp42.1%within the sector's middle half▲ 3.6pp45.8%within the sector's middle half▲ 3.7pp
Current ratio6.61above the sector's middle half▲ 5.163.20above the sector's middle half▼ 3.411.76within the sector's middle half▼ 1.444.16above the sector's middle half▲ 2.402.01within the sector's middle half▼ 2.15
Return on assets (ROA)15.5%within the sector's middle half▲ 3.2pp3.4%within the sector's middle half▼ 12.1pp0.6%within the sector's middle half▼ 2.8pp0.4%within the sector's middle half▼ 0.2pp4.2%within the sector's middle half▲ 3.8pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or 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 2% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €747,549
Fixed assets
€539,511 ▼ 8.9%
Current assets
€208,038 ▼ 8.4%
Equity and liabilities €747,549
Equity
€342,615 ▼ 0.8%
Provisions
€0 ▼ 100%
Debt
€404,933 ▼ 12.5%
Debt's share of the balance-sheet total falls from 56.5% to 54.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€138,865▲
2024 · €128,298
Cash flow
€124,019▲
2024 · €85,953
Debt to equity
1.18▼
2024 · 1.34
ROE
9.2%▲
2024 · 0.9%
Interest coverage
4.39▲
2024 · 2.99
Debt ≤ 1 year
€103,458▲
2024 · €54,604
Debt > 1 year
€301,476▼
2024 · €408,051
Income taxes
€28,690▲
2024 · €1,832
Staff costs
€2,922▼
2024 · €4,363
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,045 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 6,045 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 | - | €50,499 | - | - | - | - |
| Remuneration, social security and pensions62 | €540 | €109 | €1,240 | €4,363 | €2,922 | ▼ 33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,237 | €48,115 | €68,632 | €82,820 | €92,668 | ▲ 11.9% |
| Other operating charges640/8 | €5,170 | €13,042 | €3,090 | €2,646 | €7,125 | ▲ 169% |
| Non-recurring operating charges66A | €5,265 | €8,186 | €68,347 | - | - | - |
| Gross operating margin9900 | €191,164 | €233,498 | €174,690 | €135,307 | €148,912 | ▲ 10.1% |
| Operating profit (loss)9901 | €149,952 | €164,046 | €33,381 | €45,478 | €46,197 | ▲ 1.6% |
| Financial income75/76B | €3,053 | €3,452 | €5,922 | €2,342 | - | - |
| Recurring financial income75 | €3,053 | €3,452 | €5,922 | €2,342 | - | - |
| Financial charges65/66B | €20,355 | €47,853 | €33,905 | €42,855 | €31,605 | ▼ 26.3% |
| Recurring financial charges65 | €20,355 | €13,392 | €33,905 | €42,855 | €31,605 | ▼ 26.3% |
| Non-recurring financial charges66B | - | €34,461 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €132,650 | €119,645 | €5,398 | €4,965 | €14,592 | ▲ 194% |
| Transfer from deferred taxes780 | - | €2,525 | €2,525 | - | €45,449 | - |
| Transfer to deferred taxes680 | - | €50,499 | - | - | - | - |
| Income taxes67/77 | €58,239 | €43,007 | €2,698 | €1,832 | €28,690 | ▲ 1,466% |
| Profit (loss) for the period9904 | €74,411 | €28,664 | €5,225 | €3,133 | €31,350 | ▲ 901% |
| Transfer from tax-exempt reserves789 | - | €0 | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €74,411 | €28,664 | €5,225 | €3,133 | €31,350 | ▲ 901% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €479,412 | €836,239 | €888,889 | €819,368 | €747,549 | ▼ 8.8% |
| Formation expenses20 | - | - | - | - | €0 | - |
| Fixed assets21/28 | €240,807 | €636,315 | €665,167 | €592,290 | €539,511 | ▼ 8.9% |
| Tangible fixed assets22/27 | €234,017 | €625,355 | €654,207 | €581,330 | €532,724 | ▼ 8.4% |
| Land and buildings22 | €109,801 | €457,780 | €438,389 | €418,997 | €399,605 | ▼ 4.6% |
| Plant, machinery and equipment23 | €46,565 | €54,097 | €132,342 | €109,592 | €110,486 | ▲ 0.8% |
| Furniture and vehicles24 | €77,651 | €113,478 | €83,476 | €52,741 | €22,634 | ▼ 57.1% |
| Financial fixed assets28 | €6,790 | €10,960 | €10,960 | €10,960 | €6,786 | ▼ 38.1% |
| Current assets29/58 | €238,605 | €199,924 | €223,722 | €227,078 | €208,038 | ▼ 8.4% |
| Amounts receivable after more than one year29 | - | - | €30,201 | €20,201 | €7,766 | ▼ 61.6% |
| Trade receivables290 | - | - | €30,201 | €20,201 | - | - |
| Other amounts receivable291 | - | - | - | - | €7,766 | - |
| Amounts receivable within one year40/41 | €184,009 | €164,926 | €116,209 | €90,150 | €134,737 | ▲ 49.5% |
| Trade receivables40 | €20,335 | €9,250 | €68,166 | €61,005 | €109,511 | ▲ 79.5% |
| Other amounts receivable41 | €163,674 | €155,676 | €48,043 | €29,145 | €25,226 | ▼ 13.4% |
| Cash at bank and in hand54/58 | €53,228 | €34,998 | €77,312 | €116,727 | €65,535 | ▼ 43.9% |
| Deferred charges and accrued income490/1 | €1,368 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €479,412 | €836,239 | €888,889 | €819,368 | €747,549 | ▼ 8.8% |
| Equity10/15 | €286,643 | €338,887 | €342,219 | €345,351 | €342,615 | ▼ 0.8% |
| Contributions10/11 | €18,600 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €268,043 | €332,687 | €336,019 | €339,151 | €336,415 | ▼ 0.8% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | €35,980 | €34,087 | €34,087 | - | - |
| Distributable reserves133 | €266,183 | €294,847 | €300,072 | €305,065 | €336,415 | ▲ 10.3% |
| Provisions and deferred taxes16 | - | €11,994 | €11,361 | €11,362 | - | - |
| Deferred taxes168 | - | €11,994 | €11,361 | €11,362 | - | - |
| Amounts payable17/49 | €192,769 | €485,358 | €535,309 | €462,655 | €404,933 | ▼ 12.5% |
| Amounts payable after more than one year17 | €156,656 | €422,910 | €408,051 | €408,051 | €301,476 | ▼ 26.1% |
| Financial debts170/4 | €156,656 | €422,910 | €408,051 | €408,051 | €301,476 | ▼ 26.1% |
| Amounts payable within one year42/48 | €36,113 | €62,448 | €127,258 | €54,604 | €103,458 | ▲ 89.5% |
| Current portion of amounts payable after more than one year42 | €20,978 | €49,195 | €56,497 | - | €48,753 | - |
| Financial debts43 | €14,136 | - | - | - | - | - |
| Other loans439 | €14,136 | - | - | - | - | - |
| Trade debts44 | €999 | €10,753 | €69,282 | €48,559 | €50,933 | ▲ 4.9% |
| Suppliers440/4 | €999 | €10,753 | €69,282 | €48,559 | €50,933 | ▲ 4.9% |
| Taxes, remuneration and social security45 | - | €2,500 | €1,479 | €632 | €3,772 | ▲ 497% |
| Taxes450/3 | - | €2,500 | €1,479 | €632 | €3,772 | ▲ 497% |
| Other amounts payable47/48 | - | - | - | €5,413 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74,411 | €28,664 | €5,225 | €3,133 | €31,350 | ▲ 901% |
| + Depreciation and write-downs630 | €30,237 | €48,115 | €68,632 | €82,820 | €92,668 | ▲ 11.9% |
| Operating cash flow (approximation) | €104,648 | €76,779 | €73,857 | €85,953 | €124,019 | ▲ 44.3% |
| Investment in fixed assets (approximation) | - | -€443,623 | -€97,484 | -€9,943 | -€39,889 | ▼ 301% |
| Change in cash | - | -€18,230 | €42,314 | €39,415 | -€51,192 | ▼ 230% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
31-12
Financial
Weakest financial yearnet €3,133 ▼40%
Net result drops to €3,133, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 4.16
Current ratio from 1.76 to 4.16; short-term debt falls from €127,258 to €54,604.
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
08-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 39 days late
2022
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 90 days late
2021
31-12
Financial
Liquidity times 5current ratio 6.61
Current ratio from 1.45 to 6.61; short-term debt falls from €125,312 to €36,113.
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 11 days late
15-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 199 days late
2020
31-12
Financial
Equity above €200,000Eq €212,232 ▲34%
3 profitable years in a row build equity to €212,232.
05-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 463 days late
Show earlier events
2019
31-12
Financial
Equity above €150,000Eq €158,402 ▲35.5%
2 profitable years in a row build equity to €158,402.
2018
05-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 97 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Merelbeke-Melle · 2 establishment units since 2012
Ground area
1,523 m²
Building footprint
273 m²
Volume, LiDAR
1,262 m³
2 parcels, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
POWER CONSTRUCT
since 20122.208.867.271
POWER CONSTRUCT
since 20252.382.702.258
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44814C0439/00F000 | Flanders | 1,245 m² | 1 · 149 m² | 7.3 m · 2 fl. |
| 44412C0295/00E005 | Flanders | 278 m² | 1 · 124 m² | 8.9 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 248 EUR awarded · 248 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 248 EUR | 248 EUR |
Recognitions · licences · registrations
Recognised contractor
11 categoriesPOWER CONSTRUCT BV41573
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,423. 5,216 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
Founded09-03-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
43230Insulation installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0844317001
Also
9925:BE0844317001
Registered
01-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.