RGN Construct
ActiveFrom the official registers: KBO 3 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
RGN Construct has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €35,842 and a net result of -€20,343. Equity has been shrinking by about 15% per year since 2023. Its solvency ranks better than 60% of 34,902 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Overview
Overview
Official details
KBO- Status
- Active since 06-07-2022 Normal situation
- Activity
- Specialised construction activities NACE 43130and 2 others
- Establishment unit
- 2.335.542.046 9160 Lokeren, since 06-07-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 27-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.2%
- Gross margin
- €149,075
- ▼ 10.9%
- Turnover
- ≈ €480,000
- estimated
- Loss
- €20,343
- Equity
- €35,842
- ▼ 36.2%
- Total assets
- €64,913
- ▼ 37.6%
- Staff
- 3 FTE
- ▼ 3.2%
Score breakdownraises riskLast filed accounts filed 31 days late; 2 of the last 3 accounts lateLoss of €20,343 (financial year 2025)lowers riskLiquidity: current ratio 1.72, cash €20,730Equity €35,842 (55.2% of total assets)Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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). It does better than 60% of them on solvency, 67% on liquidity, 4% on profitability and 12% on growth.
The bankruptcy probability was computed on 31-10-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 38 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00459359.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is a loss of €17,349, after a profit of €16,312 in 2024. It is the lowest result since 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Comparable companies
These companies have the same main activity as RGN Construct: specialised construction activities (NACE 43130). They are comparable in size and age: total assets between €65,300 and €153,000, founded between 2019 and 2023.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| RGN Construct Lokeren | 2022 | €64,913 | €35,842 | €149,075 | -€20,343 | 2025 |
| PERCE BETON Froidchapelle | 2021 | €104,369 | €58,171 | €180,973 | €32,501 | 2025 |
| VDF Technics Westerlo | 2023 | €124,808 | €84,316 | €87,804 | €51,479 | 2025 |
| Dia Technics Lebbeke | 2019 | €100,879 | €59,049 | €87,698 | €38,517 | 2025 |
| HETRE MENUISERIE Tournai | 2021 | €65,267 | -€37 | €60,069 | -€1,030 | 2025 |
| ADLS FORAGE Bassenge | 2023 | €152,769 | €107,659 | €148,173 | €59,272 | 2025 |
| DECOP BETON La Louvière | 2023 | €149,395 | €133,432 | €106,806 | €72,837 | 2025 |
They were chosen from the 296 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 3,223 companies had the same profile as RGN Construct has now. Two years later, 3.4% had gone bankrupt and 87.8% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RGN Construct itself: 1.2% within 12 months.
Test of the method
The method was tested on the 497,445 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.
| 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% |
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 3,223 companies, not a prediction for RGN 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.
Subsidies and aid
Flemish government
2023 · 1 entry · €315 awarded · €315 paid| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €81,457 | €140,938 | €162,048 | ▲ 15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €631 | €1,757 | €1,771 | ▲ 0.8% |
| Other operating charges640/8 | €2,509 | €8,361 | €2,605 | ▼ 68.8% |
| Gross operating margin9900 | €144,024 | €167,367 | €149,075 | ▼ 10.9% |
| Operating profit (loss)9901 | €59,426 | €16,312 | -€17,349 | - |
| Financial income75/76B | - | €7 | €170 | ▲ 24× |
| Recurring financial income75 | - | €7 | €170 | ▲ 24× |
| Financial charges65/66B | €1,592 | €2,706 | €2,293 | ▼ 15.3% |
| Recurring financial charges65 | €1,592 | €2,706 | €2,293 | ▼ 15.3% |
| Profit (loss) for the period before taxes9903 | €57,834 | €13,613 | -€19,471 | - |
| Income taxes67/77 | €14,480 | €8,283 | €871 | ▼ 89.5% |
| Profit (loss) for the period9904 | €43,355 | €5,330 | -€20,343 | - |
| Profit (loss) for the period to be appropriated9905 | €43,355 | €5,330 | -€20,343 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €99,925 | €104,037 | €64,913 | ▼ 37.6% |
| Fixed assets21/28 | €17,414 | €16,793 | €15,022 | ▼ 10.5% |
| Tangible fixed assets22/27 | €10,371 | €9,749 | €7,978 | ▼ 18.2% |
| Plant, machinery and equipment23 | €10,371 | €9,749 | €7,978 | ▼ 18.2% |
| Financial fixed assets28 | €7,043 | €7,043 | €7,043 | = |
| Current assets29/58 | €82,511 | €87,244 | €49,891 | ▼ 42.8% |
| Amounts receivable within one year40/41 | €54,975 | €61,848 | €24,879 | ▼ 59.8% |
| Trade receivables40 | €54,734 | €58,021 | €234 | ▼ 99.6% |
| Other amounts receivable41 | €241 | €3,827 | €24,645 | ▲ 544% |
| Cash at bank and in hand54/58 | €23,579 | €20,775 | €20,730 | ▼ 0.2% |
| Deferred charges and accrued income490/1 | €3,957 | €4,621 | €4,282 | ▼ 7.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €99,925 | €104,037 | €64,913 | ▼ 37.6% |
| Equity10/15 | €50,855 | €56,184 | €35,842 | ▼ 36.2% |
| Contributions10/11 | €7,500 | €7,500 | €7,500 | = |
| Profit (loss) carried forward14 | €43,355 | €48,684 | €28,342 | ▼ 41.8% |
| Amounts payable17/49 | €49,071 | €47,853 | €29,071 | ▼ 39.2% |
| Amounts payable within one year42/48 | €49,071 | €47,853 | €29,071 | ▼ 39.2% |
| Trade debts44 | €17,948 | €9,222 | €4,924 | ▼ 46.6% |
| Suppliers440/4 | €17,948 | €9,222 | €4,924 | ▼ 46.6% |
| Taxes, remuneration and social security45 | €23,698 | €37,502 | €24,148 | ▼ 35.6% |
| Taxes450/3 | €17,276 | €22,763 | €9,154 | ▼ 59.8% |
| Remuneration and social security454/9 | €6,422 | €14,739 | €14,993 | ▲ 1.7% |
| Other amounts payable47/48 | €7,425 | €1,128 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,355 | €5,330 | -€20,343 | - |
| + Depreciation and write-downs630 | €631 | €1,757 | €1,771 | ▲ 0.8% |
| Operating cash flow (approximation) | €43,986 | €7,086 | -€18,572 | - |
| Investment in fixed assets (approximation) | - | -€1,135 | €0 | - |
| Change in cash | - | -€2,804 | -€45 | ▲ 98.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Shareholders
- OURGHIN Redouane 100 shares (100%) · €7,500 in cash
Capital transactions
- 08-07-2022 Incorporation · €7,500 · 100 shares
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bestuursorgaan, natuurlijke personen of rechtspersonen,al dan niet aandeelhouder”
Audit, dissolution and liquidation
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Zoals inzake statutenwijziging, algemene vergadering”
Articles of association, deed of 08-07-2022 (in Dutch)
Network & group
RGN Construct shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of RGN Construct. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
08-07
Gazette deed
IncorporationAppointment: OURGHIN Redouane (director) · Founder · Founding capital9 points ▸
- Incorporation, 04-07-2022
- Founder, OURGHIN Redouane
- Founding capital, €7,500
- Capital
- Other provision, “TITEL III. EFFECTEN”, (...) (deed in Dutch)
- Registered office clause, “9160 Lokeren,Bloemistenstraat 7, vanaf neerlegging ter griffie van uitgifte oprichtingsakte” (deed in Dutch)
- Board rule, 1, “vanaf neerlegging ter griffie van uitgifte oprichtingsakte” (deed in Dutch)
- Director appointment, OURGHIN Redouane (director (not named in the articles))
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 202518 activities
- De uitvoering van grondwerken,aansluiting aan gevel en kabelwerken,aansluiting en herstelling van nutsvoorzieningen
- De uitvoering van horizontale doorpersingen van buizen voor kabels en leidingen
- Het leggen van ondergrondse kabels
- Onderneming voor alle ondergrondse en bovengrondse nutsvoorzieningen
- Algemene bouwonderneming
- Algemene renovatie gebouwen
- Aannemer van metsel en betonwerken,waterdicht maken van bouwwerken
- Aannemer van slopingswerken
- Het uitoefenen van het beroep van sanitair installateur,loodgieter,elektricien,installateur van centrale verwarming en het plaatsen van elektrotechnische installaties
- Tussenpersonen in de handel
- Het verlenen van zowel persoonlijke als zakelijke,roerende en onroerende waarborgen ten voordele van derden
- Het verwerven door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van welke vorm ook,van Belgische of buitenlandse bestaande of nog op te richten vennootschappen
- Het kopen en verkopen,huren en verhuren van allerhande machines en infrastructuur noodzakelijk voor het uitoefenen van alle activiteiten van de vennootschap
- Import en export,groot- en kleinhandel in handelsgoederen
- Het beheer van een onroerend vermogen,onroerend leasing en huurfinanciering van onroerende goederen aan derden,het verwerven door aankoop of anderszins,het verkopen,het ruilen,het bouwen,het verbouwen,het verbeteren,het uitrusten,het aanpassen,het verfraaien,het onderhouden,het verhuren,het huren,het verkavelen,het prospecteren en het uitbaten van onroerende goederen,het uitbaten van een bedrijfscentrum,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de uitbreiding en de opbrengst van de onroerende goederen te bevorderen,alsmede zich borg stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen
- Het waarnemen van alle bestuursopdrachten,het uitoefenen van opdrachten en functies die rechtstreeks of onrechtstreeks met het maatschappelijk voorwerp verband houden,de vennootschap mag bestuursmandaten waarnemen in andere vennootschappen
- Het stellen van alle mogelijke handelsactiviteiten en het verlenen van alle mogelijke diensten in verband met voeding,dranken en alle aanverwante of afgeleide producten,zowel in groot en kleinhandel,invoer en uitvoer,groepering van gemeenschappelijke aankoop,eventueel als tussenpersoon,makelaar of commissionair
- Het verhuren van materiaal in verband met de vermelde handelsactiviteiten,dit zowel voor eigen rekening als voor rekening van derden
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 0788.306.033
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Recognised contractor
3 categories- C2 Water supply and laying all kinds of pipesclass 1, up to €162,000
- C6 Laying power and telecom cables in trenchesclass 1, up to €162,000
- P1 Electrical installations in buildings, with fire and burglar alarms and telecomsclass 1, up to €162,000
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46014A0545/00S003 | Flanders | 330 m² | 1 · 151 m² | 8.9 m · 1 |