PP CONSTRUCT
ActiveSummary
PP CONSTRUCT has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18,418 and a net result of €12,218. Equity is shrinking by about 10% per year across the filed financial years. Its solvency ranks better than 36% of 34,718 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €18,418
- Profit
- €12,218
Why 91raises riskSector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 0.77, cash €22,028Founded in 2005Figures for financial year 2025 (filed 18-06-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 43, micro): better than 36% on solvency, 64% on liquidity, 83% on profitability and 96% on growth.
The bankruptcy probability was computed on 26-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 15 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Back to profitnet €3,679
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 129% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 31,373 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 31,373 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,082 | €2,634 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,922 | €1,236 | €1,046 | €1,815 | €2,493 | €1,687 | €427 | €427 | = |
| Other operating charges640/8 | - | - | - | €794 | €1,080 | €2,865 | €1,268 | €783 | ▼ 38.2% |
| Non-recurring operating charges66A | - | - | - | - | €2,263 | €0 | €1,927 | €0 | ▼ 100% |
| Gross operating margin9900 | €29,525 | €2,509 | -€1,934 | -€1,903 | €22,785 | €4,986 | €11,614 | €19,488 | ▲ 67.8% |
| Operating profit (loss)9901 | €22,906 | -€753 | -€4,364 | -€4,512 | €16,950 | €434 | €7,992 | €18,279 | ▲ 129% |
| Financial income75/76B | - | - | - | €0 | €16 | €4 | €2 | €0 | ▼ 90.8% |
| Recurring financial income75 | €17 | €20 | €3 | €0 | €16 | €4 | €2 | €0 | ▼ 90.8% |
| Financial charges65/66B | - | - | - | €690 | €629 | €525 | €621 | €461 | ▼ 25.7% |
| Recurring financial charges65 | €810 | €489 | €362 | €690 | €629 | €525 | €621 | €461 | ▼ 25.7% |
| Profit (loss) for the period before taxes9903 | €22,113 | -€1,222 | -€4,724 | -€5,201 | €16,337 | -€86 | €7,374 | €17,817 | ▲ 142% |
| Income taxes67/77 | €6,562 | €1,801 | €318 | €147 | €2,336 | €633 | €3,695 | €5,600 | ▲ 51.6% |
| Profit (loss) for the period9904 | €15,551 | -€3,023 | -€5,042 | -€5,348 | €14,001 | -€719 | €3,679 | €12,218 | ▲ 232% |
| Profit (loss) for the period to be appropriated9905 | €15,551 | -€3,023 | -€5,042 | -€5,348 | €14,001 | -€719 | €3,679 | €12,218 | ▲ 232% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €64,742 | €50,039 | €48,170 | €43,403 | €51,142 | €49,103 | €46,226 | €53,588 | ▲ 15.9% |
| Fixed assets21/28 | €31,262 | €30,796 | €29,750 | €30,038 | €30,567 | €28,598 | €26,918 | €26,491 | ▼ 1.6% |
| Tangible fixed assets22/27 | €31,237 | €30,771 | €29,725 | €30,013 | €30,542 | €28,573 | €26,893 | €26,466 | ▼ 1.6% |
| Land and buildings22 | - | - | - | €28,679 | €27,999 | €27,320 | €26,893 | €26,466 | ▼ 1.6% |
| Plant, machinery and equipment23 | - | - | - | €0 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €1,334 | €2,542 | €1,253 | €0 | - | - |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €33,480 | €19,243 | €18,420 | €13,365 | €20,575 | €20,505 | €19,308 | €27,097 | ▲ 40.3% |
| Stocks and contracts in progress3 | €328 | €307 | €142 | €0 | - | - | - | - | - |
| Stocks30/36 | - | - | - | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €7,659 | €2,466 | €1,917 | €6,609 | €4,287 | €1,485 | €4,084 | €2,968 | ▼ 27.3% |
| Trade receivables40 | - | - | - | €2,568 | €324 | €1,000 | €0 | €417 | - |
| Other amounts receivable41 | - | - | - | €4,041 | €3,963 | €485 | €4,084 | €2,551 | ▼ 37.5% |
| Cash at bank and in hand54/58 | €22,591 | €13,189 | €15,325 | €6,095 | €14,529 | €17,426 | €14,560 | €22,028 | ▲ 51.3% |
| Deferred charges and accrued income490/1 | - | - | - | €661 | €1,758 | €1,594 | €664 | €2,101 | ▲ 217% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €64,742 | €50,039 | €48,170 | €43,403 | €51,142 | €49,103 | €46,226 | €53,588 | ▲ 15.9% |
| Equity10/15 | €38,357 | €35,334 | €30,292 | €24,944 | €38,945 | €38,226 | €6,200 | €18,418 | ▲ 197% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €31,149 | €28,649 | €24,092 | €18,744 | €32,745 | €32,026 | €0 | €12,218 | - |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €16,884 | €30,885 | €32,026 | €0 | €12,218 | - |
| Profit (loss) carried forward14 | €1,009 | €485 | €0 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €26,385 | €14,705 | €17,878 | €18,459 | €12,197 | €10,877 | €40,026 | €35,171 | ▼ 12.1% |
| Amounts payable within one year42/48 | €26,126 | €14,482 | €17,793 | €18,336 | €12,083 | €10,800 | €39,787 | €35,171 | ▼ 11.6% |
| Trade debts44 | €9,918 | €4,989 | €3,737 | €6,363 | €4,660 | €5,474 | €1,354 | €2,367 | ▲ 74.8% |
| Suppliers440/4 | - | - | - | €6,363 | €4,660 | €5,474 | €1,354 | €2,367 | ▲ 74.8% |
| Taxes, remuneration and social security45 | - | - | - | €2,911 | €4,394 | €4,288 | €2,728 | €5,672 | ▲ 108% |
| Taxes450/3 | - | - | - | €475 | €2,463 | €2,969 | €2,330 | €5,672 | ▲ 143% |
| Remuneration and social security454/9 | - | - | - | €2,436 | €1,932 | €1,319 | €398 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €9,062 | €3,028 | €1,038 | €35,705 | €27,131 | ▼ 24.0% |
| Accrued charges and deferred income492/3 | - | - | - | €123 | €114 | €77 | €239 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,551 | -€3,023 | -€5,042 | -€5,348 | €14,001 | -€719 | €3,679 | €12,218 | ▲ 232% |
| + Depreciation and write-downs630 | €2,922 | €1,236 | €1,046 | €1,815 | €2,493 | €1,687 | €427 | €427 | = |
| Operating cash flow (approximation) | €18,474 | -€1,787 | -€3,996 | -€3,533 | €16,494 | €967 | €4,106 | €12,644 | ▲ 208% |
| Investment in fixed assets (approximation) | - | -€770 | €0 | -€2,103 | -€3,021 | €282 | €1,253 | €0 | ▼ 100% |
| Change in cash | - | -€9,402 | €2,136 | -€9,230 | €8,435 | €2,897 | -€2,866 | €7,467 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 18-06-2026 | 2026-00189561 |
| 31-12-2024 | micro format | 19-06-2025 | 2025-00152845 |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00217006 |
| 31-12-2022 | micro format | 05-06-2023 | 2023-00111213 |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20338474 |
| 31-12-2020 | micro format | 02-07-2021 | 2021-30500095 |
| 31-12-2019 | micro format | 13-10-2020 | 2020-61500181 |
| 31-12-2018 | micro format | 31-07-2019 | 2019-42200381 |
| 31-12-2017 | micro format | 06-07-2018 | 2018-30200160 |
| 31-12-2016 | micro format | 30-08-2017 | 2017-60100057 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Day-to-day management 3
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Robert Stanislas Topczewski |
|
| POLESZCZUK Lamia |
|
| POLESZCZUK Leïla |
|
| POLESZCZUK Piotr |
|
| Robert Stanislaw Topczewski |
|
| ABOUIBADALLAH Sana |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
26-06
Gazette deed
Resignation: Robert Stanislaw Topczewski (director)2 facts ▸
- General meeting, 14-05-2024
- Director resignation, Robert Stanislaw Topczewski (director)
15-01
Gazette deed
Resignation: ABOUIBADALLAH Sana (director)Appointments: POLESZCZUK Piotr, POLESZCZUK Lamia and POLESZCZUK Leïla · Amendment of the articles · Capital conversion18 facts ▸
- General meeting, 26-12-2023
- Amendment of the articles (2 times)
- Capital conversion, “disponibles pour distribution, Deuxième décision” (deed in French)
- Board rule, “instaurer organe d’administration collégial, Quatrième décision” (deed in French)
- Capital
- Director resignation, ABOUIBADALLAH Sana (director)
- Director discharge, ABOUIBADALLAH Sana
- Board composition, POLESZCZUK Piotr (director)
- Board composition, POLESZCZUK Lamia (director)
- Board composition, POLESZCZUK Leïla (director)
- Board composition, TOPCZEWSKI Robert (director)
- Registered office clause, “1200 Woluwe-Saint-Lambert,rue Dries 189” (deed in French)
- +6 further facts in this act
13-11
Gazette deed
Appointment: Robert Stanislas Topczewski (director)2 facts ▸
- General meeting, 30-10-2023
- Director appointment, Robert Stanislas Topczewski (director)
Show earlier events
About the unread acts
Of the 26 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 23 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0876.903.754
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21672C0037/00F002 | Brussels | 87 m² | 1 · 56 m² | 11.0 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L’étude et la réalisation de tous travaux de construction, publics et privés, en qualité d’entrepreneur général ou en sous-traitance, la…” (deed in French)
7 activities (deed in French)
- 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
- 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
- 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, mais pour compte propre uniquement
- La prise en considération de tous travaux concernant la distribution de l’eau, du gaz, de l’électricité, etc
- 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
- 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 fourniture et faire toutes opérations se rattachant à ces objets
- Name clauseThe name the company operates under according to its articles.
- PP CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, tout endroit de la Région de Bruxelles-Capitale ou de la région de langue française de Belgique par simple…” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 14. Représentation externe Sans préjudice du pouvoir de représentation général de l’organe d’administration comme collège, la…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Fixe ou proportionnelle, frais généraux hors frais représentation voyages déplacements” (deed in French)1 more provision on this in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportion actions, commun accord sinon président tribunal entreprise en référé requête partie diligente” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- “Organe qui procède à émission, quinze jours” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Wednesday of June at 20:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Tout temps par assemblée formes modifications statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Désigner liquidateurs fixer pouvoirs émoluments, administrateurs en fonction si aucun désigné” (deed in French)