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PROPER CONSTRUCT

Active Private limited companyfounded 2023active for 3 yearsKortrijkstraat 24, 8880 LedegemKBO/BCE: BE 0798.481.234
PROPER CONSTRUCT
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Overview

Lifetime

3 annual accounts with figures on one time axis
peak €73,221 (2023)
€2,620▼ 96.0%
lowest -€11,716 (2025)
-€11,716▼ €54,882
peak €62,198 (2024)
€25,482▼ 59.0%
€89,695▲ 71.3%
Board1 name since 2023
1 director
Documentsfilings and deeds
06-07-202625 days before the deadline
2025micro format
Gross margin from €64,723 to €2,620Loss of €11,716Dividend €25,000Equity from €62,198 to €25,482Debts from €52,349 to €89,695Cash from €31,855 to €10,168

Key points

from the 2025 annual accounts

Equity

€25,482 ▼ 59.0%
62,1982024-11,716Loss-25,000Dividend25,4822025

PROPER CONSTRUCT paid out €25,000 in dividends in a year with a loss of €11,716.

Result

-€11,716 -€11,716
€43,2002024-€11,7002025

From profit to loss in 2025, after a profit of €43,166 in 2024.

Turnover

≈ €27,000 estimated

The micro format states no turnover.

Debts

€89,695 78% of the balance sheet
Financial debts 17%Suppliers 28%Taxes and wages 17%Other 38%

Of this, €73,860 falls due within a year.

Liquidity

1.14 was 2.43 in 2024

Short-term debts rose from €28,759 to €73,860.

Position in the sector

-€11,716

Lower net result than 89% of companies in specialised construction. Sector median €9,999 · 37,159 companies.

Checked score

Bankruptcy probability within 12 months

Financial strength

Score breakdown

Comparable companies, two years later

In July 2024, 1,206 companies had the same profile as PROPER CONSTRUCT has now. Each dot stands for 4 companies, two years later.

90.2%
were still trading
4.6%
stopped another way
4.6%
went bankrupt
  • Micro
  • 2 to 5 years old
  • solvency 10 to 30%
  • a loss of 10% of the balance sheet or more

Another 0.6% stopped without a precise date, possibly only after those two years.

Test of the method

The method was tested on the 497,331 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 2.9% 3.1%
10 5.6% 6.1%

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 1,206 companies, not a prediction for PROPER 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.

Credit verdict

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The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Board and ownership

Director, since 15-02-2023
  • founderdeed of 17-02-2023
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0798481234
Incorporation Founding capital of €1,200, 100 shares · Founder: · Appointment: (director) · published on 17-02-2023 · Gazette deed
First establishment Kortrijkstraat 24, Ledegem
All 7 events

Comparable companies

same main activity, similar in size and age
Company
PROPER CONSTRUCT Ledegem €115,176 €2,620 22.1% -
Bezettingswerken Belmans Lille €141,704 €4,001 78.0% -
Bart van der vekens Mechelen €69,095 €2,490 82.4% -
VITAAL BOUW Ghent €83,178 €4,780 54.5% -
T&T RENOVATIE Zedelgem €159,125 -€3,115 -51.8% -
EFE PLEISTERWERKEN Beringen €60,798 €2,155 59.2% -
Studio Monolith Merksplas €207,600 €4,422 12.1% -

These companies have the same main activity as PROPER CONSTRUCT: plastering work (NACE 43310). They are comparable in size and age: total assets between €60,800 and €208,000, founded between 2021 and 2023.

Official details

Source: KBO
Status
Active since 15-02-2023Normal situation
Activity
Plastering workNACE 43310and 3 others
Establishment unit
2.341.712.0388880 Ledegem, since 15-02-2023
Financial year end
31 December
Peppol
Reachable since 24-11-2023
Company details

Annual accounts 2025

€2,620▼ 96.0%
€11,716
€25,482▼ 59.0%
€115,176▲ 0.5%
Filing
Filed on 06-07-2026, 25 days before the end of the filing period
Financials

Insights on PROPER CONSTRUCT

PROPER CONSTRUCT files the micro format. That format states no turnover. The gross margin fell from €73,221 in 2023 to €2,620 in 2025.

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

Financials

Annual accounts 2025

micro format, filed on 06-07-2026, 25 days before the deadline
€2,620
▼ 96.0%
-€11,282
▼ €65,755
-€11,716
▼ €54,882
€10,081
▼ 75.6%
22.1%
▼ 32.2 percentage points
1.14
▼ 1.30

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 ≈ €27,000. Estimated: probably between €15,000 and €55,000.

Balance sheet

balance sheet total €115,176 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

22.1%

Higher than 24% of 37,177 companies in 2025.

1.14

Higher than 27% of 36,472 companies in 2025.

-10.2%

Higher than 12% of 36,707 companies in 2025.

PROPER CONSTRUCT Middle half of the sector 80% of the sector Micro accounts in specialised construction (NACE 43)

Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023
Balance sheet: assets
20/58 115,176114,54794,237
21/28 31,23544,52924,336
22/27 31,23544,52924,336
23 3,4675,498-
24 27,76839,03124,336
29/58 83,94170,01769,901
40/41 64,66637,02865,569
40 36,09010,43232,230
41 28,57526,59633,339
54/58 10,16831,8554,332
490/1 9,1081,134-
Balance sheet: equity and liabilities
10/49 115,176114,54794,237
10/15 25,48262,19819,031
10/11 1,2001,2001,200
13 24,28260,99817,831
133 24,28260,99817,831
14 000
17/49 89,69552,34975,206
17 15,17623,46819,547
170/4 15,17623,46819,547
42/48 73,86028,75955,659
42 8,2927,9345,026
44 25,4689,5962,954
440/4 25,4689,5962,954
45 15,10011,2292,679
450/3 14,86411,2292,679
454/9 235--
47/48 25,000045,000
492/3 659122-
Income statement
9900 2,62064,72373,221
62 -0228
630 13,2948,9503,908
640/8 6081,300886
9901 -11,28254,47368,199
75/76B 1,3522,0857
75 1,3522,0857
65/66B 1,6542,162731
65 1,6542,162731
9903 -11,58454,39667,476
67/77 13211,2294,645
9904 -11,71643,16662,831
9905 -11,71643,16662,831
Appropriation of the result
9906 -11,71643,16662,831
791/2 36,716--
691/2 043,16617,831
6921 043,16617,831
694/7 25,000045,000
694 25,000--
695 -045,000
Document PDFPDFPDF

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 06-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 06-07-2026 2026-00256514 PDF
31-12-2024 micro format 15-07-2025 2025-00286571 PDF
31-12-2023 micro format 25-07-2024 2024-00283731 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023
2,01263,42372,107
1,57852,11766,739
029,14427,264
-21,68827,523-
10,08141,25914,242
22.1%54.3%20.2%
1.142.431.26
3.520.843.95
-46.0%69.4%330.1%
-10.2%37.7%66.7%
1.2229.3398.69

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.

Investments

fixed assets acquired
Item202520242023
Tangible fixed assets-€29,144€27,264
€13,294€8,950€3,908

Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)

Insights on PROPER CONSTRUCT

The operating result for 2025 is a loss of €11,282, after a profit of €54,473 in 2024. It is the lowest result since 2023.

Debt's share of the balance-sheet total rises from 45.7% to 77.9%. Equity is lower and debt is higher.

Board & ownership

Board

1 director, since incorporation
Director (not named in the articles)
since 15-02-2023 term without a fixed end
listed in the 2025 annual accounts, filed on 06-07-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 17-02-2023

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today

Director (not named in the articles)
Board
Mandates as a list
    • Director (not named in the articles), from 15-02-2023 to date

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

Control

Founder
This company
PROPER CONSTRUCT
Equity €25,482
Loss €11,716 in 2025

Capital

Contribution
€1,200
Shares
100
Contribution per share
€12
Equity per share
€255 in 2025
Source
deed of 17-02-2023

Articles of association

deed of 17-02-2023 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
“Algemene vergadering die bestuurder(s) benoemt, aantal, duur van opdracht en, indien meerdere bestuurders, hun bevoegdheid”
Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
100 shares
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of May at 18:00

Founder

At incorporation deed of 17-02-2023 ↗
  • sole founder · 100% at incorporation

Network & group

No group

PROPER CONSTRUCT has no parent and no holdings in its annual accounts. is the only director. PROPER CONSTRUCT shares no director with another company.

Timeline

Timeline

7 events since 2023

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 25 days before the deadline
2025
Weakest financial year net -€11,716 The net result drops to -€11,716, the lowest from 2023 to 2025.
Annual accounts 2024 filed PDFmicro format · 16 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 6 days before the deadline
2023
Registered in the Peppol Directory Reachable for e-invoices through 0208:0798481234
IncorporationFounding capital of €1,200, 100 shares · Founder: · Appointment: (director) · published on 17-02-20233 points ▸
  • Founder,
  • Founding capital, €1,200, 100 shares
  • Director appointment, (director (not named in the articles))
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

First establishment Kortrijkstraat 24, Ledegem

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

On 15 February 2023, PROPER CONSTRUCT was incorporated as a private limited company by one natural person, with a starting capital of €1,200.12 has served as director since 2023.3 Total assets went from €94,237 in 2023 to €115,176 in 2025.4

  1. 1KBO register
  2. 2Belgian Official Gazette, 17-02-2023
  3. 3National Bank, annual accounts 2025
  4. 4National Bank, annual accounts 2023 and 2025

Company details

Identity

Enterprise number
0798.481.234
VAT number
BE 0798.481.234
Peppol ID
0208:0798481234
Other Peppol ID
9925:BE0798481234
Legal form
Private limited company
Status
Active, normal situation
Founded
15-02-2023
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of May at 18:00
deed of 17-02-2023 (in Dutch)
Peppol
Reachable since 24-11-2023Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
PROPER CONSTRUCT in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 17-02-2023 (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.
“Kortrijksestraat 24, 8880 Ledegem”
deed of 17-02-2023 (in Dutch)

Activities

NACEBEL 2025
43310 Plastering work main activity
43230 Insulation installation
43341 Painting of buildings
43350 Other building finishing work
Codes under NACEBEL 2008
43310 Plastering work main activity
43291 Specialised construction activities
43341 Painting of buildings
43390 Specialised construction activities
PurposeThe purpose describes the activities the company may carry out under its articles.
“De studie en de uitvoering van alle mogelijke particuliere en openbare bouwwerken, als algemene aannemer of in onderaanneming, het ontwerp…”
7 activities
  1. De studie en de uitvoering van alle mogelijke particuliere en openbare bouwwerken, als algemene aannemer of in onderaanneming, het ontwerp en de bouw van alle mogelijke gebouwen en bouwsels, de studie en de uitvoering van binnen- en buitendecoraties;
  2. Alle mogelijke verrichtingen die rechtstreeks of onrechtstreeks verband houden met het onderhoud, de renovatie, het herstel, de verfraaiing, de vernieuwing en de modernisering van alle soorten kunstwerken en onroerende goederen en, algemeen genomen, alle verrichtingen die rechtstreeks of onrechtstreeks verband houden met openbare en particuliere bouwwerken;
  3. Het verstrekken van advies en bijstand, zowel technisch als administratief en commercieel, aan alle vennootschappen en ondernemingen voor alle mogelijke aangelegenheden met betrekking tot de sector van de onroerende goederen
  4. Het verwerven van alle mogelijke terreinen, het bouwen van openbare en particuliere gebouwen, de aankoop, de verkoop, de verhuur, de verdeling en de verkaveling van alle mogelijke onroerende goederen
  5. Al de werkzaamheden met betrekking tot de verdeling van water, gas, elektriciteit, enzovoort; de vaststelling en exploitatie van alle mogelijke transportmiddelen, havens, kanalen, wegen, enzovoort;
  6. De aankoop, de verkoop, de huur, de invoer en de uitvoer van alle mogelijke materialen, goederen, toestellen en materieel, noodzakelijk voor de bouw, het onderhoud, het herstel en de vernieuwing van kunstwerken en gebouwen;
  7. De voorbereiding, de opstelling en het afsluiten, zowel als mandataris als voor eigen rekening, van alle mogelijke overeenkomsten voor openbare of particuliere werken of voor leveringen en het uitvoeren van alle verrichtingen die daarmee verband houden.
deed of 17-02-2023 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Kortrijkstraat 24 registered office 8880 Ledegem 15-02-2023 2.341.712.038

Buildings and parcels at the address

Ground area
441 m²
Buildings
83 m²
Volume, LiDAR
386 m³
Tallest building
6.9 m
Buildings to scale, each on its own parcel
83 m², 6.9 m 83 m², 6.9 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
36018A0770/00Y000441 m² 1 · 83 m² 6.9 m · 2

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 0798.481.234

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