SOLOMON CONSTRUCT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-07-2026 at the NBB all 18 filings
Turnover
≈ €150,000
Estimated: probably between €100,000 and €250,000
Total assets
€113,498▼ 11.4%
2024 · €128,162
Net result
€6,066
2024 · -€7,266
Working capital
€34,684▲ 108%
2024 · €16,682
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€10,973
2025
20182025
Net result
€6,066
2025
middle half of the sector
20182025
Equity
€68,164
▲ 9.8%
2025
middle half of the sector
20182025
Total assets
€113,498
▼ 11.4%
2025
middle half of the sector
20182025
Debt
€45,333
▼ 31.4%
2025
20182025
Working capital
€34,684
▲ 108%
2025
middle half of the sector
20182025
Solvency
60.1%
▲ 11.6pp
2025
middle half of the sector
20182025
Current ratio
2.68
▲ 1.11
2025
middle half of the sector
20182025
Return on assets (ROA)
5.3%
▲ 11.0pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€15,655-€17,994▲ 14.9%€3,563▼ 80.2%€17,904▲ 402%€1,245▼ 93.0%€9,289▲ 646%-€266€10,973
Net result€8,779-€11,386▲ 29.7%€1,274within the sector's middle half▼ 88.8%€12,421within the sector's middle half▲ 875%-€2,953below the sector's middle half€3,974within the sector's middle half-€7,266below the sector's middle half€6,066within the sector's middle half
Equity€43,262-€54,648▲ 26.3%€55,922within the sector's middle half▲ 2.3%€68,344within the sector's middle half▲ 22.2%€65,391within the sector's middle half▼ 4.3%€69,365within the sector's middle half▲ 6.1%€62,098within the sector's middle half▼ 10.5%€68,164within the sector's middle half▲ 9.8%
Total assets€157,192-€151,867▼ 3.4%€181,224within the sector's middle half▲ 19.3%€217,312within the sector's middle half▲ 19.9%€184,372within the sector's middle half▼ 15.2%€157,347within the sector's middle half▼ 14.7%€128,162within the sector's middle half▼ 18.5%€113,498within the sector's middle half▼ 11.4%
Debt€113,929-€97,219▼ 14.7%€125,301▲ 28.9%€148,968▲ 18.9%€118,981▼ 20.1%€87,982▼ 26.1%€66,064▼ 24.9%€45,333▼ 31.4%
Working capital€29,117-€36,985▲ 27.0%€76,723above the sector's middle half▲ 107%€28,175within the sector's middle half▼ 63.3%€22,691within the sector's middle half▼ 19.5%€26,445within the sector's middle half▲ 16.5%€16,682within the sector's middle half▼ 36.9%€34,684within the sector's middle half▲ 108%
Solvency27.5%-36.0%▲ 8.5pp30.9%within the sector's middle half▼ 5.1pp31.4%within the sector's middle half▲ 0.6pp35.5%within the sector's middle half▲ 4.0pp44.1%within the sector's middle half▲ 8.6pp48.5%within the sector's middle half▲ 4.4pp60.1%within the sector's middle half▲ 11.6pp
Current ratio1.85-2.22▲ 0.383.35above the sector's middle half▲ 1.131.67within the sector's middle half▼ 1.691.64within the sector's middle half▼ 0.031.94within the sector's middle half▲ 0.301.56within the sector's middle half▼ 0.372.68within the sector's middle half▲ 1.11
Return on assets (ROA)5.6%-7.5%▲ 1.9pp0.7%within the sector's middle half▼ 6.8pp5.7%within the sector's middle half▲ 5.0pp-1.6%below the sector's middle half▼ 7.3pp2.5%within the sector's middle half▲ 4.1pp-5.7%below the sector's middle half▼ 8.2pp5.3%within the sector's middle half▲ 11.0pp
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 operating result for 2025 is a profit of €10,973, after a loss of €266 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €113,498
Fixed assets
€58,122 ▼ 29.0%
Current assets
€55,376 ▲ 19.5%
Equity and liabilities €113,498
Equity
€68,164 ▲ 9.8%
Debt
€45,333 ▼ 31.4%
Debt's share of the balance-sheet total falls from 51.5% to 39.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34,676▲
2024 · €24,085
Cash flow
€29,769▲
2024 · €17,084
Quick ratio
2.56▲
2024 · 1.30
Debt to equity
0.67▼
2024 · 1.06
ROE
8.9%▲
2024 · -11.7%
Interest coverage
13.83▲
2024 · 3.21
Debt ≤ 1 year
€20,692▼
2024 · €29,655
Debt > 1 year
€24,641▼
2024 · €36,409
Income taxes
€2,912▲
2024 · €0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €93,774 | €3,400 | €1,240 | €3,552 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €18,845 | €24,169 | €24,676 | €24,351 | €23,703 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0 | - | €525 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,787 | €12,781 | €12,781 | €18,845 | €24,169 | €24,676 | €24,351 | €23,703 | ▼ 2.7% |
| Other operating charges640/8 | - | - | - | €1,859 | €2,074 | €1,699 | €2,159 | €2,225 | ▲ 3.0% |
| Gross operating margin9900 | €29,296 | €31,515 | €17,421 | €38,608 | €27,489 | €36,189 | €26,245 | €36,901 | ▲ 40.6% |
| Operating profit (loss)9901 | €15,655 | €17,994 | €3,563 | €17,904 | €1,245 | €9,289 | -€266 | €10,973 | - |
| Financial income75/76B | - | - | - | €3,164 | €571 | €329 | €500 | €512 | ▲ 2.4% |
| Recurring financial income75 | €0 | - | €278 | €3,164 | €571 | €329 | €500 | €512 | ▲ 2.4% |
| Financial charges65/66B | - | - | - | €4,755 | €2,809 | €2,932 | €7,501 | €2,506 | ▼ 66.6% |
| Recurring financial charges65 | €3,049 | €3,119 | €2,567 | €4,755 | €2,809 | €2,932 | €7,501 | €2,506 | ▼ 66.6% |
| Profit (loss) for the period before taxes9903 | €12,606 | €14,876 | €1,274 | €16,313 | -€993 | €6,687 | -€7,266 | €8,978 | - |
| Income taxes67/77 | €3,827 | €3,490 | €0 | €3,892 | €1,960 | €2,713 | €0 | €2,912 | - |
| Profit (loss) for the period9904 | €8,779 | €11,386 | €1,274 | €12,421 | -€2,953 | €3,974 | -€7,266 | €6,066 | - |
| Profit (loss) for the period to be appropriated9905 | €8,779 | €11,386 | €1,274 | €12,421 | -€2,953 | €3,974 | -€7,266 | €6,066 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €157,192 | €151,867 | €181,224 | €217,312 | €184,372 | €157,347 | €128,162 | €113,498 | ▼ 11.4% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €93,663 | €84,682 | €71,902 | €146,830 | €126,061 | €102,624 | €81,825 | €58,122 | ▼ 29.0% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €93,663 | €84,682 | €71,902 | €146,830 | €126,061 | €102,624 | €81,825 | €58,122 | ▼ 29.0% |
| Land and buildings22 | - | - | - | €64,800 | €61,200 | €57,600 | €54,000 | €50,400 | ▼ 6.7% |
| Plant, machinery and equipment23 | - | - | - | €2,497 | €4,083 | €3,001 | €3,016 | €2,023 | ▼ 32.9% |
| Furniture and vehicles24 | - | - | - | €79,533 | €60,778 | €42,023 | €24,809 | €5,699 | ▼ 77.0% |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €63,529 | €67,185 | €109,322 | €70,481 | €58,311 | €54,723 | €46,337 | €55,376 | ▲ 19.5% |
| Stocks and contracts in progress3 | €11,500 | €20,700 | €20,895 | €20,543 | €22,869 | €8,191 | €7,833 | €2,477 | ▼ 68.4% |
| Stocks30/36 | - | - | - | €20,543 | €22,869 | €8,191 | €7,833 | €2,477 | ▼ 68.4% |
| Amounts receivable within one year40/41 | €26,143 | €9,978 | €70,075 | €21,588 | €11,712 | €26,278 | €18,919 | €31,504 | ▲ 66.5% |
| Trade receivables40 | - | - | - | €1,757 | €2,252 | €13,866 | €5,986 | €19,989 | ▲ 234% |
| Other amounts receivable41 | - | - | - | €19,831 | €9,460 | €12,413 | €12,933 | €11,515 | ▼ 11.0% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €24,516 | €34,865 | €16,412 | €24,241 | €20,357 | €16,751 | €16,714 | €16,654 | ▼ 0.4% |
| Deferred charges and accrued income490/1 | - | - | - | €4,109 | €3,373 | €3,502 | €2,872 | €4,741 | ▲ 65.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €157,192 | €151,867 | €181,224 | €217,312 | €184,372 | €157,347 | €128,162 | €113,498 | ▼ 11.4% |
| Equity10/15 | €43,262 | €54,648 | €55,922 | €68,344 | €65,391 | €69,365 | €62,098 | €68,164 | ▲ 9.8% |
| Contributions10/11 | €6,250 | €6,250 | - | €6,250 | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Reserves13 | €21,860 | €21,860 | €21,860 | €21,860 | €21,860 | €21,860 | €21,860 | €21,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €20,000 | €20,000 | €21,860 | €21,860 | €21,860 | = |
| Profit (loss) carried forward14 | €15,152 | €26,538 | €27,812 | €40,234 | €37,281 | €41,255 | €33,988 | €40,054 | ▲ 17.8% |
| Amounts payable17/49 | €113,929 | €97,219 | €125,301 | €148,968 | €118,981 | €87,982 | €66,064 | €45,333 | ▼ 31.4% |
| Amounts payable after more than one year17 | €79,517 | €67,019 | €92,702 | €106,662 | €83,361 | €59,704 | €36,409 | €24,641 | ▼ 32.3% |
| Financial debts170/4 | - | - | - | €106,662 | €83,361 | €59,704 | €36,409 | €24,641 | ▼ 32.3% |
| Amounts payable within one year42/48 | €34,412 | €30,200 | €32,599 | €42,306 | €35,620 | €28,278 | €29,655 | €20,692 | ▼ 30.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €22,947 | €23,301 | €23,657 | €23,295 | €11,768 | ▼ 49.5% |
| Financial debts43 | - | - | - | - | - | - | - | €2,883 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €2,883 | - |
| Trade debts44 | €4,352 | €13,401 | €13,808 | €18,524 | €3,159 | €3,408 | €60 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €18,524 | €3,159 | €3,408 | €60 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €835 | €9,160 | €1,213 | €6,300 | €6,042 | ▼ 4.1% |
| Taxes450/3 | - | - | - | €835 | €1,960 | €1,213 | €0 | €2,442 | - |
| Remuneration and social security454/9 | - | - | - | - | €7,200 | €0 | €6,300 | €3,600 | ▼ 42.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,779 | €11,386 | €1,274 | €12,421 | -€2,953 | €3,974 | -€7,266 | €6,066 | - |
| + Depreciation and write-downs630 | €12,787 | €12,781 | €12,781 | €18,845 | €24,169 | €24,676 | €24,351 | €23,703 | ▼ 2.7% |
| Operating cash flow (approximation) | €21,566 | €24,166 | €14,055 | €31,266 | €21,217 | €28,650 | €17,084 | €29,769 | ▲ 74.2% |
| Investment in fixed assets (approximation) | - | -€3,800 | €0 | -€93,774 | -€3,400 | -€1,240 | -€3,552 | €0 | - |
| Change in cash | - | €10,348 | -€18,452 | €7,829 | -€3,884 | -€3,606 | -€37 | -€60 | ▼ 62.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as SOLOMON CONSTRUCT has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of SOLOMON CONSTRUCT itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 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 34,693 companies, not a prediction for SOLOMON 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.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-07-2026 | 2026-00271453 | |
| 31-12-2024 | micro format | 20-08-2025 | 2025-00384918 | |
| 31-12-2023 | micro format | 12-06-2024 | 2024-00123768 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00177753 | |
| 31-12-2021 | micro format | 01-06-2022 | 2022-20040833 | |
| 31-12-2020 | micro format | 02-07-2021 | 2021-28100542 | |
| 31-12-2019 | micro format | 27-08-2020 | 2020-45000067 | |
| 31-12-2018 | micro format | 06-08-2019 | 2019-43700232 | |
| 31-12-2017 | micro format | 03-07-2018 | 2018-26500499 | |
| 31-12-2016 | micro format | 29-06-2017 | 2017-24300321 |