S & A CONSTRUCT
ActiveSummary
The annual accounts of S & A CONSTRUCT for fiscal year 2025 show a net loss of 52% of the equity at the start of that year. The 2025 annual accounts show equity of €16k and a net result of €-18k. Equity is shrinking by ~6.7% per year across the filed fiscal years. Its solvency ranks better than 44% of 27965 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency67▼-7
Growth32=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 1.65 against 1.9 in 2024; short-term debt: 58% and cash: 7.8% of total assets), but 58% of the assets are financed with debt.
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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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
42%
Return on assets
-45.5%
Age of the figures
9 mo
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-18k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
18 d late
2024
113 d late
2023
30 d late
2022
35 d early
2021
47 d late
2020
38 d late
2019
67 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€16k▼ 52.0%
2024 · €34k
Total assets
€39k▼ 43.5%
2024 · €69k
Net result
€-18k▲ 48.1%
2024 · €-34k
Working capital
€15k▼ 52.6%
2024 · €31k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€24k▲ 4.9%€-28k€1k€-34k€-17k▲ 48.8%
Net result€17k▲ 5.2%€-28k€892€-34k€-18k▲ 48.1%
Equity€95k▲ 22.3%€67k▼ 29.3%€68k▲ 1.3%€34k▼ 50.1%€16k▼ 52.0%
Total assets€145k▲ 14.9%€106k▼ 26.9%€96k▼ 9.3%€69k▼ 28.6%€39k▼ 43.5%
Debt€50k▲ 3.2%€39k▼ 22.5%€28k▼ 27.6%€35k▲ 23.0%€23k▼ 35.1%
Working capital€94k▲ 24.1%€67k▼ 28.9%€67k▲ 0.3%€31k▼ 53.4%€15k▼ 52.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17k in 2025 against €34k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €39k
Fixed assets
€2k ▼ 44.7%
Current assets
€37k ▼ 43.4%
Equity and liabilities €39k
Equity
€16k ▼ 52.0%
Debt
€23k ▼ 35.1%
Debt's share of the balance-sheet total rises from 50.6% to 58.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-16k▲
2024 · €-33k
Cash flow
€-16k▲
2024 · €-33k
Current ratio
1.65▼
2024 · 1.90
Debt to equity
1.38▲
2024 · 1.02
ROE
-108.3%▼
2024 · -100.2%
ROA
-45.5%▲
2024 · -49.5%
Interest coverage
-64.13▲
2024 · -240.54
Debt ≤ 1 year
€23k▼
2024 · €35k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €881 | €662 | €467 | €902 | €1k | ▲ 39.7% |
| Other operating charges640/8 | €2k | €345 | €268 | €322 | €3k | ▲ 800% |
| Gross operating margin9900 | €27k | €-27k | €2k | €-33k | €-13k | ▲ 59.5% |
| Operating profit (loss)9901 | €24k | €-28k | €1k | €-34k | €-17k | ▲ 48.8% |
| Financial income75/76B | €37 | €1 | €0 | €79 | - | - |
| Recurring financial income75 | €37 | €1 | €0 | €79 | - | - |
| Financial charges65/66B | €186 | €186 | €396 | €138 | €252 | ▲ 83.1% |
| Recurring financial charges65 | €186 | €186 | €396 | €138 | €252 | ▲ 83.1% |
| Profit (loss) for the period before taxes9903 | €23k | €-28k | €892 | €-34k | €-18k | ▲ 48.1% |
| Income taxes67/77 | €6k | - | - | - | - | - |
| Profit (loss) for the period9904 | €17k | €-28k | €892 | €-34k | €-18k | ▲ 48.1% |
| Profit (loss) for the period to be appropriated9905 | €17k | €-28k | €892 | €-34k | €-18k | ▲ 48.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €145k | €106k | €96k | €69k | €39k | ▼ 43.5% |
| Fixed assets21/28 | €1k | €407 | €1k | €3k | €2k | ▼ 44.7% |
| Tangible fixed assets22/27 | €1k | €357 | €1k | €3k | €2k | ▼ 45.5% |
| Plant, machinery and equipment23 | €1k | €357 | €1k | €674 | €282 | ▼ 58.2% |
| Furniture and vehicles24 | - | - | - | €2k | €1k | ▼ 41.4% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €144k | €106k | €95k | €66k | €37k | ▼ 43.4% |
| Amounts receivable within one year40/41 | €126k | €81k | €50k | €28k | €34k | ▲ 24.2% |
| Trade receivables40 | €122k | €77k | €43k | €24k | €1k | ▼ 95.4% |
| Other amounts receivable41 | €4k | €5k | €7k | €3k | €33k | ▲ 943% |
| Cash at bank and in hand54/58 | €18k | €20k | €18k | €38k | €3k | ▼ 92.1% |
| Deferred charges and accrued income490/1 | €1k | €5k | €27k | €62 | €62 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €145k | €106k | €96k | €69k | €39k | ▼ 43.5% |
| Equity10/15 | €95k | €67k | €68k | €34k | €16k | ▼ 52.0% |
| Contributions10/11 | €5k | €5k | €5k | €5k | €5k | = |
| Reserves13 | €14k | €14k | €14k | €14k | €14k | = |
| Distributable reserves133 | €14k | €14k | €14k | €14k | €14k | = |
| Profit (loss) carried forward14 | €76k | €49k | €50k | €15k | €-2k | ▼ 114% |
| Amounts payable17/49 | €50k | €39k | €28k | €35k | €23k | ▼ 35.1% |
| Amounts payable within one year42/48 | €50k | €39k | €28k | €35k | €23k | ▼ 35.1% |
| Current portion of amounts payable after more than one year42 | €511 | €511 | €609 | €516 | €2k | ▲ 225% |
| Trade debts44 | €27k | €18k | €5k | €14k | €1k | ▼ 91.2% |
| Suppliers440/4 | €27k | €18k | €5k | €14k | €1k | ▼ 91.2% |
| Taxes, remuneration and social security45 | €9k | €4k | €2k | - | - | - |
| Taxes450/3 | €8k | €4k | - | - | - | - |
| Remuneration and social security454/9 | €2k | - | €2k | - | - | - |
| Other amounts payable47/48 | €14k | €16k | €21k | €20k | €20k | ▼ 1.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17k | €-28k | €892 | €-34k | €-18k | ▲ 48.1% |
| + Depreciation and write-downs630 | €881 | €662 | €467 | €902 | €1k | ▲ 39.7% |
| Operating cash flow (approximation) | €18k | €-27k | €1k | €-33k | €-16k | ▲ 50.5% |
| Investment in fixed assets (approximation) | - | €0 | €-1k | €-3k | €0 | ▲ 100% |
| Change in cash | - | €2k | €-1k | €20k | €-35k | ▼ 276% |
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
Next filing, fiscal year 2026, expected by
2026
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
21-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 113 days late
2024
31-12
Financial
Weakest financial yearnet €-34k
Net result drops to €-34k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €892
Net result €892 after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
16-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 47 days late
2021
07-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 38 days late
2020
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 67 days late
2019
31-12
Financial
Highest result since 2018net €21k ▲321%
Operating result €31k, net result €21k, both a record.
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 54 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
10-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 71 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
3 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, Gerpinnes · 1 establishment unit since 2014
Ground area
807 m²
Building footprint
237 m²
Volume, LiDAR
2,178 m³
2 parcels, Brussels, Wallonia · tallest building 19.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
S & A CONSTRUCT
since 20142.224.613.341
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52025B0321/00N003 | Wallonia | 637 m² | 1 · 131 m² | 5.8 m · 2 fl. |
| 21562A0193/00F004 | Brussels | 170 m² | 1 · 106 m² | 19.8 m · 5 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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Of 8,462 companies in sector 43120 we hold annual accounts for 3,230. 1,825 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
Founded02-12-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43130Specialised construction activities
43230Insulation installation
43320Joinery installation
43990Other specialised construction activities
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.