S&A Multi Construct
ActiveSummary
The computed 12-month bankruptcy probability of S&A Multi Construct is 7.3% (elevated). The 2025 annual accounts show equity of €34,302 and a net result of -€935. Its solvency ranks better than 16% of 34,718 sector peers (NACE 43, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Staff
- 1.3 FTE
- Equity
- €34,302
- Loss
- -€935
Why 33raises risk2 changes of registered office in 24 monthsFounded in 2023lowers riskFigures for financial year 2025 (filed 19-06-2026)Size: total assets €270,288Show the evidence
Checked score
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 16% on solvency, 17% on liquidity, 34% on profitability and 31% on growth.
The bankruptcy probability was computed on 26-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 2 accounts on average 40 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Resignation: Anzhela ZAITSEVA (director)Director discharge · Registered-office move…
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2024 to 2025, 2 financial years
The operating result falls in 2025; 2025 is 88% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,271 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a small loss
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 7.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,271 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €11,010 | €20,624 | ▲ 87.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,313 | €17,932 | ▲ 14× |
| Other operating charges640/8 | €542 | €23,128 | ▲ 43× |
| Gross operating margin9900 | €53,379 | €66,474 | ▲ 24.5% |
| Operating profit (loss)9901 | €40,514 | €4,790 | ▼ 88.2% |
| Financial income75/76B | €1,087 | €2,013 | ▲ 85.1% |
| Recurring financial income75 | €1,087 | €2,013 | ▲ 85.1% |
| Financial charges65/66B | €158 | €2,902 | ▲ 18× |
| Recurring financial charges65 | €158 | €2,902 | ▲ 18× |
| Profit (loss) for the period before taxes9903 | €41,443 | €3,901 | ▼ 90.6% |
| Income taxes67/77 | €8,706 | €4,836 | ▼ 44.5% |
| Profit (loss) for the period9904 | €32,737 | -€935 | - |
| Profit (loss) for the period to be appropriated9905 | €32,737 | -€935 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €51,011 | €270,288 | ▲ 430% |
| Formation expenses20 | €0 | €0 | - |
| Fixed assets21/28 | - | €135,074 | - |
| Tangible fixed assets22/27 | - | €129,878 | - |
| Plant, machinery and equipment23 | - | €5,991 | - |
| Furniture and vehicles24 | - | €123,028 | - |
| Other tangible fixed assets26 | - | €858 | - |
| Financial fixed assets28 | - | €5,196 | - |
| Current assets29/58 | €51,011 | €135,214 | ▲ 165% |
| Amounts receivable within one year40/41 | €50,750 | €118,312 | ▲ 133% |
| Trade receivables40 | €19,487 | €62,210 | ▲ 219% |
| Other amounts receivable41 | €31,263 | €56,101 | ▲ 79.5% |
| Cash at bank and in hand54/58 | €4 | €12,787 | ▲ 3,045× |
| Deferred charges and accrued income490/1 | €257 | €4,115 | ▲ 16× |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €51,011 | €270,288 | ▲ 430% |
| Equity10/15 | €35,237 | €34,302 | ▼ 2.7% |
| Contributions10/11 | €2,500 | €2,500 | = |
| Reserves13 | €32,737 | €32,737 | = |
| Distributable reserves133 | €32,737 | €32,737 | = |
| Profit (loss) carried forward14 | - | -€935 | - |
| Amounts payable17/49 | €15,774 | €235,986 | ▲ 15× |
| Amounts payable after more than one year17 | - | €87,959 | - |
| Financial debts170/4 | - | €87,959 | - |
| Amounts payable within one year42/48 | €15,774 | €148,027 | ▲ 838% |
| Current portion of amounts payable after more than one year42 | - | €20,012 | - |
| Trade debts44 | €4,773 | €101,143 | ▲ 21× |
| Suppliers440/4 | €4,773 | €101,143 | ▲ 21× |
| Taxes, remuneration and social security45 | €10,857 | €25,890 | ▲ 138% |
| Taxes450/3 | €8,706 | €20,577 | ▲ 136% |
| Remuneration and social security454/9 | €2,151 | €5,313 | ▲ 147% |
| Other amounts payable47/48 | €143 | €982 | ▲ 586% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €32,737 | -€935 | - |
| + Depreciation and write-downs630 | €1,313 | €17,932 | ▲ 14× |
| Operating cash flow (approximation) | €34,050 | €16,997 | ▼ 50.1% |
| Change in cash | - | €12,783 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 19-06-2026 | 2026-00178996 |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00163503 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| YENGOYAN Sasha |
|
| Khechybabian Armen |
|
| Anzhela ZAITSEVA |
|
Owners and capital
Capital and shareholders
- Yengoyan Sasha 15 shares
- Khechybablan Armen 25 shares
- Zaitseva Anzhela 60 shares
- Yengoyan Sasha to Zaitseva Anzhela 35 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
01-09
Gazette deed
Resignation: Anzhela ZAITSEVA (director)Director discharge · Registered-office move · Power of attorney6 facts ▸
- General meeting, 22-08-2026
- Director resignation, Anzhela ZAITSEVA (director)
- Director discharge, Anzhela ZAITSEVA
- Registered-office move, 1800 Vilvoorde, Brusselsesteenweg 90
- Power of attorney, Diana Kaminskaya
- Other provision, “Naam van de notaris of de persoon die de akte ondertekent” (deed in Dutch)
03-04
Gazette deed
Registered officeRegistered-office move2 facts ▸
- General meeting, 03-03-2025
- Registered-office move, Brusselbaan 411 te 1790 Affligem
15-07
Gazette deed
Resignations: Yengoyan Sasha (director) and Zaitseva Anzhela (director)Share transfer · Shareholding7 facts ▸
- General meeting, “Bijzondere Algemene Vergadering” (deed in Dutch)
- Director resignation, Yengoyan Sasha (director)
- Director resignation, Zaitseva Anzhela (director)
- Share transfer, Yengoyan Sasha → Zaitseva Anzhela
- Shareholding, 15
- Shareholding, 25
- Shareholding, 60
26-01
Gazette deed
Appointments: Khechybabian Armen (director) and Zaitseva Anzhela (director)Registered-office move4 facts ▸
- General meeting, 15-01-2024
- Registered-office move, Keelstraat 2 te 1800 Vilvoorde
- Director appointment, Khechybabian Armen (director)
- Director appointment, Zaitseva Anzhela (director)
03-10
Gazette deed
IncorporationAppointment: YENGOYAN, Sasha (director) · Founder · Founding capital8 facts ▸
- Incorporation, 29-09-2023
- Founder, YENGOYAN, Sasha
- Founding capital, €2,500
- Other provision, “bankattest”, 2500 (deed in Dutch)
- Other provision, “ambtsuitoefening, notariskantoor” (deed in Dutch)
- Share issue, 100, “vergoeding voor de inbrengen” (deed in Dutch)
- Registered office clause, “9890 Gavere, Pontweg 1/A000” (deed in Dutch)
- Director appointment, YENGOYAN, Sasha (director (not named in the articles))
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 1000.491.355
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23021A0221/00L000 | Flanders | 3,321 m² | 1 · 451 m² | 14.2 m · 4 |
| 23645C0318/00X000 | Flanders | 1,070 m² | 1 · 162 m² | 8.9 m · 2 |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- S&A Multi Construct
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, 9890 Gavere,Pontweg 1A” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur,onbepaalde duur bij gebrek aan bepaling, 1” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Gelijk recht in de winstverdeling, 1” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of June at 15:00
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “In vormen vereist voor statutenwijziging, algemene vergadering” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bestuurder(s) in functie krachtens statuten indien geen andere vereffenaar benoemd, ontbinding en sluiting vereffening in een akte mogelijk…” (deed in Dutch)