PZ CONSTRUCT
ActiveSummary
PZ CONSTRUCT has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15,297 and a net result of €8,628, of which €12,386 non-recurring income. Equity is shrinking by about 21% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2027. Its solvency ranks better than 36% of 34,807 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €15,297
- Profit
- €8,628
Why 87raises riskSector: Specialised construction activities (NACE 43)Size: total assets €45,278lowers riskFounded in 2007Liquidity: current ratio 1.03, cash €13,786Show 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, 48% on liquidity, 21% on profitability and 99% on growth.
The bankruptcy probability was computed on 29-10-2026 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 8 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…
- Back to profitnet €8,628
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (5 days) Filed on 5 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00034445.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result turns negative in 2025: a loss of €2,401 after €3,293 in 2024.
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 34,693 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
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 497,445 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 34,693 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €164,585 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €203,691 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,135 | €12,699 | €9,131 | €7,097 | €6,620 | €5,036 | €2,675 | ▼ 46.9% |
| Other operating charges640/8 | - | - | - | €123,170 | €758 | €611 | €863 | ▲ 41.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €378 | - |
| Gross operating margin9900 | €209,038 | €106,498 | €152,728 | €127,663 | -€39,106 | €8,940 | €1,516 | ▼ 83.0% |
| Operating profit (loss)9901 | €43,503 | -€23,933 | €2,217 | -€2,604 | -€46,484 | €3,293 | -€2,401 | - |
| Financial income75/76B | - | - | - | - | €49 | €206 | €12,404 | ▲ 60× |
| Recurring financial income75 | - | - | - | - | €49 | €206 | €18 | ▼ 91.1% |
| Non-recurring financial income76B | - | - | - | - | - | - | €12,386 | - |
| Financial charges65/66B | - | - | - | - | €773 | €2,566 | €1,375 | ▼ 46.4% |
| Recurring financial charges65 | - | - | - | - | €773 | €2,566 | €1,375 | ▼ 46.4% |
| Profit (loss) for the period before taxes9903 | €43,503 | -€23,933 | €2,217 | -€2,604 | -€47,208 | €933 | €8,628 | ▲ 825% |
| Income taxes67/77 | - | - | - | - | - | €7,000 | - | - |
| Profit (loss) for the period9904 | €43,503 | -€23,933 | €2,217 | -€2,604 | -€47,208 | -€6,067 | €8,628 | - |
| Profit (loss) for the period to be appropriated9905 | €43,503 | -€23,933 | €2,217 | -€2,604 | -€47,208 | -€6,067 | €8,628 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €111,223 | €86,365 | €88,166 | €81,566 | €32,621 | €32,320 | €45,278 | ▲ 40.1% |
| Fixed assets21/28 | €20,952 | €25,906 | €18,274 | €11,177 | €8,755 | €4,649 | €14,360 | ▲ 209% |
| Tangible fixed assets22/27 | €20,567 | €25,521 | €17,888 | €10,791 | €8,370 | €4,263 | €13,975 | ▲ 228% |
| Plant, machinery and equipment23 | - | - | - | - | - | €686 | €2,878 | ▲ 319% |
| Furniture and vehicles24 | - | - | - | €10,791 | €8,370 | €3,577 | €11,097 | ▲ 210% |
| Financial fixed assets28 | €385 | €385 | €385 | €385 | €385 | €385 | €385 | = |
| Current assets29/58 | €90,271 | €60,459 | €69,892 | €70,389 | €23,866 | €27,672 | €30,918 | ▲ 11.7% |
| Amounts receivable within one year40/41 | €47,932 | €49,393 | €58,464 | €58,506 | €21,089 | €4,761 | €16,955 | ▲ 256% |
| Trade receivables40 | - | - | - | €46,927 | €12,122 | €2,864 | €14,718 | ▲ 414% |
| Other amounts receivable41 | - | - | - | €11,579 | €8,966 | €1,896 | €2,238 | ▲ 18.0% |
| Cash at bank and in hand54/58 | €17,215 | €11,066 | €11,429 | €11,883 | €2,734 | €21,710 | €13,786 | ▼ 36.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €43 | €1,201 | €177 | ▼ 85.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €111,223 | €86,365 | €88,166 | €81,566 | €32,621 | €32,320 | €45,278 | ▲ 40.1% |
| Equity10/15 | €77,265 | €53,331 | €55,548 | €52,944 | €5,736 | -€331 | €15,297 | - |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €56,805 | €32,871 | €35,088 | €32,484 | -€14,724 | -€20,791 | -€5,163 | ▲ 75.2% |
| Amounts payable17/49 | €33,959 | €33,034 | €32,618 | €28,622 | €26,885 | €32,652 | €29,981 | ▼ 8.2% |
| Amounts payable after more than one year17 | €5,906 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €28,052 | €33,034 | €32,618 | €28,622 | €26,885 | €32,652 | €29,981 | ▼ 8.2% |
| Financial debts43 | - | - | - | €1,041 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €1,041 | - | - | - | - |
| Trade debts44 | €4,088 | €2,811 | €6,027 | €7,699 | €590 | €4,511 | €116 | ▼ 97.4% |
| Suppliers440/4 | - | - | - | €7,699 | €590 | €4,511 | €116 | ▼ 97.4% |
| Taxes, remuneration and social security45 | - | - | - | €3,944 | - | €1,994 | €1,840 | ▼ 7.8% |
| Taxes450/3 | - | - | - | €3,944 | - | €161 | - | - |
| Remuneration and social security454/9 | - | - | - | - | - | €1,833 | €1,840 | ▲ 0.4% |
| Other amounts payable47/48 | - | - | - | €15,939 | €26,295 | €26,146 | €28,026 | ▲ 7.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,503 | -€23,933 | €2,217 | -€2,604 | -€47,208 | -€6,067 | €8,628 | - |
| + Depreciation and write-downs630 | €10,135 | €12,699 | €9,131 | €7,097 | €6,620 | €5,036 | €2,675 | ▼ 46.9% |
| Operating cash flow (approximation) | €53,638 | -€11,234 | €11,348 | €4,493 | -€40,588 | -€1,032 | €11,304 | - |
| Investment in fixed assets (approximation) | - | -€17,653 | -€1,499 | €0 | -€4,198 | -€929 | -€12,387 | ▼ 1,233% |
| Change in cash | - | -€6,149 | €362 | €454 | -€9,148 | €18,976 | -€7,924 | - |
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 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 05-02-2026 | 2026-00034445 |
| 30-06-2024 | micro format | 04-02-2025 | 2025-00026656 |
| 30-06-2023 | micro format | 13-02-2024 | 2024-00030421 |
| 30-06-2022 | micro format | 04-01-2023 | 2023-20553708 |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03400379 |
| 30-06-2020 | micro format | 29-01-2021 | 2021-02900485 |
| 30-06-2019 | micro format | 12-12-2019 | 2019-76300482 |
| 30-06-2018 | micro format | 27-12-2018 | 2018-75600307 |
| 30-06-2017 | micro format | 15-05-2018 | 2018-12600344 |
| 30-06-2016 | full format | 15-05-2018 | 2018-12600336 |
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
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ZABLOCKI Piotr |
|
Owners and capital
Capital and shareholders
- 21-06-2024 Converted to unavailable equity
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
21-06
Gazette deed
Resignation: ZABLOCKI Piotr (director)Appointment: ZABLOCKI Piotr (director) · Power of attorney · Amendment of the articles14 facts ▸
- Director resignation, ZABLOCKI Piotr
- Director appointment, ZABLOCKI Piotr (director (not named in the articles))
- Other provision, “décharge, assemblée générale décidera à prochaine assemblée générale annuelle sur décharge au(x) gérant(s) démissionnaire(s) pour exécution mandat” (deed in French)
- Other provision, 14-06-2024
- Other provision, “interdiction de gérer” (deed in French)
- Power of attorney
- Other provision, “votes, toutes résolutions adoptées à unanimité des voix” (deed in French)
- General meeting, “assemblée générale extraordinaire des actionnaires” (deed in French)
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital conversion, “formes et majorités modification des statuts, transformer compte statutairement indisponible en compte disponible” (deed in French)
- Other provision, “information distribution compte capitaux propres, disponibilité soumise procédure distribution double test solvabilité et liquidité” (deed in French)
- +2 further facts in this act
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 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 30 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 0889.055.082
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 |
|---|---|---|---|---|
| 21010B0016/00W006 | Brussels | 119 m² | 1 · 72 m² | 13.4 m · 3 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Sortir adresse exacte des statuts, Région de Bruxelles-Capitale” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, organe d'administration” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, registre des actions nominatives” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Mêmes formalités si non actionnaires de plein droit, sans recours” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of November at 20:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “En tout temps par décision assemblée générale délibérant dans formes prévues pour modifications aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Sans préjudice faculté assemblée de désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments, dissolution pour quelque…” (deed in French)