Checked.be
Active
BE 0875.645.823Private limited company
R & S CONSTRUCT
Guchtveld 21 ·1790 Affligem, Belgium· 21 yrs active
Sector: Wallpapering and laying of floor and wall coverings in other materials
(43333)
Conclusion
R & S CONSTRUCT has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €282k and a net result of €35k. Equity is growing by ~21.3% per year across the filed fiscal years. Its solvency ranks better than 61% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €282k |
| Net result | €35k |
| Better than sector | 61% |
| Active | 21 yrs |
Financial profile
73
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
63
Profitability
63
Solvency
63
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2005, 21 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
63
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€18k
estimate, not credit advice
Score history
81
2022
64
2023
64
2024
63
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.34 (< 1.0)
-10
Quick ratio
Quick ratio 0.34 (< 0.6)
-5
Leverage
Debt/equity 0.85 (< 1.0)
+10
Profitability
ROE 13% (≥ 10%)
+10
Interest coverage
Interest coverage 8.6× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 20-01-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~21.3%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 53.9% | 44.0% | |
| Net result | €35k | €30k | |
| Equity | €282k | €276k | |
| Gross operating margin | €75k | €275k | |
| Total assets | €523k | €742k |
€75k
-21.8%
22-25
€35k
-34.9%
22-25
€56k
-25.3%
22-25
€523k
-5.0%
22-25
€282k
+14.4%
22-25
€-36k
+57.4%
22-25
€10k
-2.2%
22-25
€241k
-20.7%
22-25
€55k
-50.6%
22-25
€180k
-4.9%
22-25
0.34
+45.0%
22-25
0.34
+45.0%
22-25
53.9%
+20.3%
22-25
0.85
-30.6%
22-25
12.6%
-43.1%
22-25
6.8%
-31.5%
22-25
8.59
-5.6%
22-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | -21.8% | -26.9% | +178.0% | - |
| Net profit | -34.9% | +14.0% | +98.6% | - |
| Cash flow | -25.3% | -29.0% | +168.4% | - |
| Staff costs | - | - | - | - |
| Income taxes | -2.2% | -41.1% | +158.0% | - |
| Dividends | - | - | - | - |
| Total assets | -5.0% | -0.5% | +34.0% | - |
| Equity | +14.4% | +28.3% | +33.0% | - |
| Debt | -20.7% | -15.9% | +34.5% | - |
| of which ≤ 1y | -50.6% | -16.9% | +69.8% | - |
| of which > 1y | -4.9% | -16.4% | +20.2% | - |
| Working capital | +57.4% | +32.0% | - | - |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 0.34 | 0.24 | 0.07 | 1.24 |
| Quick ratio | 0.34 | 0.24 | 0.07 | 1.24 |
| Working capital ratio | -6.9% | -15.3% | -22.4% | 4.6% |
| Solvency | 53.9% | 44.8% | 34.8% | 35.0% |
| Debt / equity | 0.85 | 1.23 | 1.88 | 1.86 |
| Long-term debt ratio | 0.64 | 0.77 | 1.18 | 1.30 |
| Interest coverage | 8.59 | 9.09 | 13.47 | 7.04 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 6.8% | 9.9% | 8.6% | 5.8% |
| ROE | 12.6% | 22.1% | 24.8% | 16.6% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €523k | €550k | €553k | €413k |
| Fixed assets | 21/28 | €504k | €524k | €545k | €316k |
| Tangible fixed assets | 22/27 | €327k | €347k | €368k | €139k |
| Financial fixed assets | 28 | €177k | €177k | €177k | €177k |
| Current assets | 29/58 | €19k | €26k | €9k | €97k |
| Amounts receivable within one year | 40/41 | €7k | €13k | €150 | €92k |
| Cash & bank | 54/58 | €12k | €13k | €8k | €5k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €523k | €550k | €553k | €413k |
| Equity | 10/15 | €282k | €247k | €192k | €145k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k |
| Reserves | 13 | €270k | €234k | €180k | €132k |
| Amounts payable | 17/49 | €241k | €304k | €361k | €268k |
| Amounts payable after one year | 17 | €180k | €189k | €226k | €188k |
| Amounts payable within one year | 42/48 | €55k | €111k | €133k | €78k |
| Trade debts payable within one year | 44 | €3k | €16k | €4k | €9k |
| Income statement | |||||
| Gross operating margin | 9900 | €75k | €96k | €131k | €47k |
| Operating result | 9901 | €54k | €75k | €73k | €32k |
| Financial income | 75 | - | €60 | €2k | €6k |
| Financial charges | 65 | €9k | €11k | €10k | €7k |
| Result before taxes | 9903 | €46k | €65k | €65k | €31k |
| Income taxes | 67/77 | €10k | €10k | €18k | €7k |
| Net result for the period | 9904 | €35k | €54k | €48k | €24k |
| Result to be appropriated | 9905 | €35k | €54k | €48k | €24k |
Legal Structure
| NACE primary | Wallpapering and laying of floor and wall coverings in other materials(43333) |
| Legal form | Private limited company(610) |
| Incorporation | 22-08-2005 |
| Status | Active |
| Postal code | 1790 |
Establishment units
R & S Construct
since 20052.148.682.236
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23030A1047/00M000 | Flanders | 767 m² | 1 · 178 m² | 9.3 m · 2 fl. |
| 23030A1068/00V000 | Flanders | 686 m² | 1 · 165 m² | 7.6 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
20-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 4 days late
2024
30-06
Financial
Highest result since 2022net €54k ▲14%
Operating result €75k, net result €54k, both a record.
30-06
Financial
Equity above €200kEq €247k ▲28.3%
3 profitable years in a row build equity to €247k.
2023
26-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Equity above €150kEq €192k ▲33%
2 profitable years in a row build equity to €192k.
25-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 12 days late
2017
30-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Wallpapering and laying of floor and wall coverings in other materials4333345433Painting of buildings43341Screed work4342245441
Names & trade names
| Legal nameNL | R & S CONSTRUCT |
Similar companies
TILANO
BE 0806.433.155 · Dilbeek
MARCELO EUGENE
BE 0415.599.072 · Antwerpen
GAMMA BENELUX
BE 0443.952.766 · Hoegaarden
GOSTORE
BE 0627.710.655 · Ans
VLOERCONCEPT
BE 0470.111.092 · Geel