RECON
ActiveSummary
RECON has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €198,478 and a net result of €43,132. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 92% of 9974 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability92▲+4
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days only on tighter terms
Liquidity ample (current ratio 6.79 against 7.7 in 2023; short-term debt: 14.7% and cash: 1.6% of total assets), and 14.7% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-03-2026, 229 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
229 d late
2023
61 d late
2022
115 d late
2021
24 d early
2020
44 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 76 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€198,478▲ 27.8%
2023 · €155,345
Total assets
€232,593▲ 30.3%
2023 · €178,502
Net result
€43,132▲ 58.4%
2023 · €27,237
Working capital
€197,570▲ 27.4%
2023 · €155,096
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line20202021202220232024
Operating result€22,864▲ 269%€7,104▼ 68.9%€20,151▲ 184%€34,422▲ 70.8%€46,161▲ 34.1%
Net result€20,503within the sector's middle half▲ 476%€3,155within the sector's middle half▼ 84.6%€6,641within the sector's middle half▲ 111%€27,237above the sector's middle half▲ 310%€43,132above the sector's middle half▲ 58.4%
Equity€128,993above the sector's middle half▲ 18.9%€121,468above the sector's middle half▼ 5.8%€128,108above the sector's middle half▲ 5.5%€155,345above the sector's middle half▲ 21.3%€198,478above the sector's middle half▲ 27.8%
Total assets€162,641within the sector's middle half▲ 3.9%€160,746within the sector's middle half▼ 1.2%€159,251within the sector's middle half▼ 0.9%€178,502within the sector's middle half▲ 12.1%€232,593within the sector's middle half▲ 30.3%
Debt€33,648▼ 30.0%€39,278▲ 16.7%€31,143▼ 20.7%€23,157▼ 25.6%€34,115▲ 47.3%
Working capital€119,866▲ 23.1%€112,869▼ 5.8%€123,322▲ 9.3%€155,096▲ 25.8%€197,570▲ 27.4%
Solvency79.3%above the sector's middle half▲ 10.0pp75.6%above the sector's middle half▼ 3.7pp80.4%above the sector's middle half▲ 4.9pp87.0%above the sector's middle half▲ 6.6pp85.3%above the sector's middle half▼ 1.7pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 2021 the operating result has climbed three years in a row; 2024 is 34% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €232,593
Fixed assets
€907 ▲ 264%
Current assets
€231,685 ▲ 30.0%
Equity and liabilities €232,593
Equity
€198,478 ▲ 27.8%
Debt
€34,115 ▲ 47.3%
Debt's share of the balance-sheet total rises from 13.0% to 14.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€46,490▲
2023 · €41,442
Cash flow
€43,461▲
2023 · €34,257
Current ratio
6.79▼
2023 · 7.70
Debt to equity
0.17▲
2023 · 0.15
ROE
21.7%▲
2023 · 17.5%
ROA
18.5%▲
2023 · 15.3%
Interest coverage
212.42▲
2023 · 73.03
Debt ≤ 1 year
€34,115▲
2023 · €23,157
Income taxes
€14,895▲
2023 · €14,536
Staff costs
€4
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 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% | 1.6% |
| 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 74% 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 31,324 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,144 | - |
| Remuneration, social security and pensions62 | - | - | - | - | €4 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,392 | €10,762 | €7,414 | €7,020 | €329 | ▼ 95.3% |
| Other operating charges640/8 | - | €2,347 | €1,539 | €3,297 | €3,869 | ▲ 17.4% |
| Non-recurring operating charges66A | - | - | €700 | - | - | - |
| Gross operating margin9900 | €34,434 | €20,213 | €29,804 | €44,739 | €50,364 | ▲ 12.6% |
| Operating profit (loss)9901 | €22,864 | €7,104 | €20,151 | €34,422 | €46,161 | ▲ 34.1% |
| Financial income75/76B | - | €223 | €155 | €7,918 | €12,085 | ▲ 52.6% |
| Recurring financial income75 | €9,873 | €223 | €155 | €7,918 | €12,085 | ▲ 52.6% |
| Financial charges65/66B | - | €1,156 | €9,812 | €567 | €219 | ▼ 61.4% |
| Recurring financial charges65 | €453 | €1,156 | €9,812 | €567 | €219 | ▼ 61.4% |
| Profit (loss) for the period before taxes9903 | €32,284 | €6,171 | €10,494 | €41,773 | €58,027 | ▲ 38.9% |
| Income taxes67/77 | €11,781 | €3,016 | €3,853 | €14,536 | €14,895 | ▲ 2.5% |
| Profit (loss) for the period9904 | €20,503 | €3,155 | €6,641 | €27,237 | €43,132 | ▲ 58.4% |
| Profit (loss) for the period to be appropriated9905 | €20,503 | €3,155 | €6,641 | €27,237 | €43,132 | ▲ 58.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €162,641 | €160,746 | €159,251 | €178,502 | €232,593 | ▲ 30.3% |
| Fixed assets21/28 | €26,276 | €18,464 | €7,269 | €249 | €907 | ▲ 264% |
| Tangible fixed assets22/27 | €26,027 | €18,215 | €7,020 | - | €658 | - |
| Plant, machinery and equipment23 | - | - | - | - | €658 | - |
| Furniture and vehicles24 | - | €18,215 | €7,020 | - | - | - |
| Financial fixed assets28 | €249 | €249 | €249 | €249 | €249 | = |
| Current assets29/58 | €136,365 | €142,282 | €151,982 | €178,253 | €231,685 | ▲ 30.0% |
| Amounts receivable within one year40/41 | €128,995 | €142,282 | €149,876 | €178,040 | €227,812 | ▲ 28.0% |
| Trade receivables40 | - | €12,577 | €11,577 | €8,577 | €9,515 | ▲ 10.9% |
| Other amounts receivable41 | - | €129,705 | €138,299 | €169,463 | €218,296 | ▲ 28.8% |
| Cash at bank and in hand54/58 | €7,370 | - | €2,106 | - | €3,670 | - |
| Deferred charges and accrued income490/1 | - | - | - | €213 | €203 | ▼ 4.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €162,641 | €160,746 | €159,251 | €178,502 | €232,593 | ▲ 30.3% |
| Equity10/15 | €128,993 | €121,468 | €128,108 | €155,345 | €198,478 | ▲ 27.8% |
| Contributions10/11 | €7,933 | €7,933 | €7,933 | €7,933 | €7,933 | = |
| Outside capital11 | - | €7,933 | €7,933 | - | - | - |
| Share premium1100/10 | - | €7,933 | €7,933 | - | - | - |
| Reserves13 | €120,675 | €113,150 | €119,790 | €146,154 | €146,154 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | - | €13,853 | €13,853 | €13,853 | €13,853 | = |
| Distributable reserves133 | - | €97,438 | €104,078 | €130,442 | €130,442 | = |
| Profit (loss) carried forward14 | €385 | €385 | €385 | €1,259 | €44,391 | ▲ 3,427% |
| Amounts payable17/49 | €33,648 | €39,278 | €31,143 | €23,157 | €34,115 | ▲ 47.3% |
| Amounts payable after more than one year17 | €17,149 | €9,865 | €2,483 | - | - | - |
| Financial debts170/4 | - | €9,865 | €2,483 | - | - | - |
| Amounts payable within one year42/48 | €16,499 | €29,413 | €28,660 | €23,157 | €34,115 | ▲ 47.3% |
| Current portion of amounts payable after more than one year42 | - | €6,933 | €7,453 | €2,904 | €421 | ▼ 85.5% |
| Financial debts43 | - | €2,021 | - | €891 | - | - |
| Credit institutions430/8 | - | €2,021 | - | €891 | - | - |
| Trade debts44 | €901 | €1,061 | €7,030 | €7,327 | €16,180 | ▲ 121% |
| Suppliers440/4 | - | €1,061 | €7,030 | €7,327 | €16,180 | ▲ 121% |
| Taxes, remuneration and social security45 | - | €9,252 | €4,031 | €12,036 | €16,612 | ▲ 38.0% |
| Taxes450/3 | - | €9,252 | €4,031 | €12,036 | €16,612 | ▲ 38.0% |
| Other amounts payable47/48 | - | €10,146 | €10,146 | - | €902 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,503 | €3,155 | €6,641 | €27,237 | €43,132 | ▲ 58.4% |
| + Depreciation and write-downs630 | €10,392 | €10,762 | €7,414 | €7,020 | €329 | ▼ 95.3% |
| Operating cash flow (approximation) | €30,895 | €13,917 | €14,054 | €34,257 | €43,461 | ▲ 26.9% |
| Investment in fixed assets (approximation) | - | -€2,950 | €3,781 | €0 | -€987 | - |
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
2026
17-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 229 days late
2024
31-12
Financial
Highest result since 2018net €43,132 ▲58.4%
Operating result €46,161, net result €43,132, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Equity above €150,000Eq €155,345 ▲21.3%
6 profitable years in a row build equity to €155,345.
23-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 115 days late
2022
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €3,155 ▼84.6%
Net result drops to €3,155, the lowest in the series; recovery starts the following year.
13-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 44 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2017
11-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 42 days late
2016
26-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 57 days late
2015
11-09
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 42 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Aalter · 1 establishment unit since 1996
Ground area
2,394 m²
Building footprint
261 m²
Volume, LiDAR
1,015 m³
2 parcels, Flanders · tallest building 13.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Fazantendreef 12, 9910 Aalter
since 19962.079.329.216
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44029C0386/00E000 | Flanders | 1,514 m² | 1 · 155 m² | 13.2 m · 1 fl. |
| 44067C0109/00X003 | Flanders | 881 m² | 1 · 105 m² | 5.8 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.
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TRADIBOUW
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ABDF Construction
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WILLEMS - DE HENAU
BE 0421.170.832
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 12,123 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
Founded23-07-1996
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41003General construction of other non-residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0458467035
Also
9925:BE0458467035
Registered
12-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.