REX CONSTRUCTION
ActiveREX CONSTRUCTION has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-1.45M) and a net result of €200k. Equity is shrinking by ~39.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 818 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
16
/ 100
Critical▲ +16 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency33=
Growth58=
Stability100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.45 against 0.49 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 818 sector peers (2025).
NBB · sector comparisonPosition among 818 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-12-2025 was due by 30-07-2026 and was filed on 30-07-2026, 0 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
on the day
2024
20 d late
2023
90 d late
2022
26 d late
2020
26 d late
2019
63 d early
2018
26 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-12-2026 and is due by 30-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
13-09-2026 today30-12-2026 close30-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€200k▲ 481%
2024 · €34k
2018: €-12k
2019: €39k
2020: €-450k
2022: €-338k
2023: €-1.03M
2024: €34k
2018 → 2025
Working capital
€-2.01M▼ 7.2%
2024 · €-1.88M
2018: €414k
2019: €963k
2020: €917k
2022: €-485k
2023: €-1.92M
2024: €-1.88M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202022202320242025Trend
Equity€-322k-€-659k▼ 105%€-1.68M▼ 156%€-1.65M▲ 2.0%€-1.45M▲ 12.1%
Operating result€-437k-€-257k▲ 41.3%€-784k▼ 206%€168k€294k▲ 74.6%
Net result€-450k-€-338k▲ 24.9%€-1.03M▼ 204%€34k€200k▲ 481%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 75% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.99M
Fixed assets
€1.34M▼ 2.6%
Current assets
€1.66M▼ 8.8%
Key figures and ratios
EBITDA
€329k▲
2024 · €206k
Cash flow
€236k▲
2024 · €73k
Solvency
-48.4%▲
2024 · -51.7%
Current ratio
0.45▼
2024 · 0.49
Quick ratio
0.37▼
2024 · 0.39
Debt / equity
-3.07▼
2024 · -2.93
ROE
-13.8%▼
2024 · -2.1%
ROA
6.7%▲
2024 · 1.1%
Interest coverage
3.22▲
2024 · 1.49
Debt
€4.44M▼
2024 · €4.84M
Debt ≤ 1 year
€3.67M▼
2024 · €3.69M
Debt > 1 year
€727k▼
2024 · €1.09M
Income taxes
€0▼
2024 · €171
Staff costs
€0▼
2024 · €98k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€3.19M€2.99M▼
Fixed assets21/28€1.37M€1.34M▼
Tangible fixed assets22/27€1.12M€1.08M▼
Land and buildings22€1.11M€1.08M▼
Plant, machinery and equipment23€0-
Furniture and vehicles24€9k€5k▼
Financial fixed assets28€258k€258k=
Current assets29/58€1.81M€1.66M▼
Stocks and contracts in progress3€382k€308k▼
Stocks30/36€382k€308k▼
Amounts receivable within one year40/41€1.41M€1.31M▼
Trade receivables40€1.04M€429k▼
Other amounts receivable41€379k€882k▲
Cash at bank and in hand54/58€8k€0▼
Deferred charges and accrued income490/1€11k€37k▲
Equity and liabilities
Total equity and liabilities10/49€3.19M€2.99M▼
Equity10/15€-1.65M€-1.45M▲
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Reserves13€0-
Distributable reserves133€0-
Profit (loss) carried forward14€-1.75M€-1.55M▲
Amounts payable17/49€4.84M€4.44M▼
Amounts payable after more than one year17€1.09M€727k▼
Financial debts170/4€1.09M€727k▼
Amounts payable within one year42/48€3.69M€3.67M▼
Current portion of amounts payable after more than one year42€254k€61k▼
Financial debts43-€40k
Credit institutions430/8-€40k
Trade debts44€35k€165k▲
Suppliers440/4€35k€165k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€19k€219k▲
Taxes450/3€7k€219k▲
Remuneration and social security454/9€11k€0▼
Other amounts payable47/48€3.39M€3.19M▼
Accrued charges and deferred income492/3€53k€48k▼
Income statement
Code20242025
Non-recurring operating income76A€0€2k▲
Remuneration, social security and pensions62€98k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€38k€36k▼
Other operating charges640/8€4k€3k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€308k€333k▲
Operating profit (loss)9901€168k€294k▲
Financial income75/76B€5k€9k▲
Recurring financial income75€5k€9k▲
Financial charges65/66B€138k€102k▼
Recurring financial charges65€138k€102k▼
Profit (loss) for the period before taxes9903€35k€200k▲
Income taxes67/77€171€0▼
Profit (loss) for the period9904€34k€200k▲
Profit (loss) for the period to be appropriated9905€34k€200k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.78M€-1.55M▲
Profit (loss) brought forward from the previous period14P€-1.81M€-1.75M▲
Transfer from equity791/2€28k€0▼
Social balance
Average headcount (FTE)90871.00.0▼
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-12
Financial
Highest result since 2018net €200k ▲481%
Operating result €294k, net result €200k, both a record.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 20 days late
2024
30-12
Financial
Back to profitnet €34k
Net result €34k after 3 loss-making years.
28-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 90 days late
2023
30-12
Financial
Weakest financial yearnet €-1.03M
Net result drops to €-1.03M, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 26 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €39k
Net result €39k after one loss-making year.
31-12
Financial
Equity above €100kEq €128k ▲44.6%
Equity rises from €88k to €128k.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2024
Tsarina Vicqueencya Elise Vandekerckhove
CurrentDirector · since 08-03-2024
08-03-2024
Appointed as Director
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Tempelhof 509000 GentGround area
490 m²
Building footprint
400 m²
Volume, LiDAR
5,496 m³
Parcel 44021A1127/00L000, Flanders · tallest building 16.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Tempelhof 50, 9000 Gent
since 20172.262.710.486
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A1127/00L000 | Flanders | 490 m² | 1 · 400 m² | 16.8 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Y.M.D. Bouwwerken
BE 0708.924.104
Tongeren-Borgloon · Eq €128k
B&E Construction
BE 0777.910.207
Sint-Niklaas · Eq €128k
PROFI RENO
BE 0843.060.949
Antwerpen · Eq €128k
GEORGES SNOECK ET FILS
BE 0894.535.978
Welkenraedt · Eq €128k
IMAGINER ET CONSTRUIRE
BE 0842.284.157
Assesse · Eq €128k
Of 29,531 companies in sector 41001 we hold annual accounts for 15,864. 12,744 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded07-03-2017
Fiscal year end30-12
Activities, NACEBEL
41001General construction of residential buildings
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.