SPARROW CONSTRUCT
ActiveSummary
SPARROW CONSTRUCT has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of -€170,271. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 36% of 11,191 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €1.1m
- Loss
- -€170,271
- Parent
- V.D.V.B.-IMMO · 100%
- V.D.V.B.-IMMODirector · permanent representative VAN BELLEGHEM Hilde
Why 92raises riskLiquidity: current ratio 0.48, cash €53,994Equity €1.1m (17.3% of total assets)lowers riskSize: total assets €6.2mFigures for financial year 2025 (filed 24-07-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 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 68, small): better than 37% on solvency, 65% on liquidity, 29% on profitability and 20% on growth.
The bankruptcy probability was computed on 28-10-2026 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).
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Signals
This company filed its last 7 accounts on average 34 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Weakest financial yearnet -€170,271
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, abbreviated format
2022 to 2025, 5 financial years 2019 to 2025, 8 financial years
Multiple financial year ends fall in the same calendar year; an annual trend is not displayed.
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.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate 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 371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 97.3% are still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a small loss
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 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 371 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 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €367 | €330 | €440 | €54,735 | €372,266 | ▲ 580% |
| Other operating charges640/8 | - | - | - | €1,833 | €1,077 | €5,873 | €10,748 | €33,417 | ▲ 211% |
| Gross operating margin9900 | -€7,271 | -€7,942 | €15,168 | €14,704 | €169 | -€1,412 | €119,075 | €378,885 | ▲ 218% |
| Operating profit (loss)9901 | -€7,396 | -€8,072 | €15,036 | €12,504 | -€1,238 | -€7,725 | €53,592 | -€26,798 | - |
| Financial income75/76B | - | - | - | €4 | €0 | - | €1,097 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €4 | €4 | €0 | - | €1,097 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €151 | €102 | €786 | €43,160 | €143,472 | ▲ 232% |
| Recurring financial charges65 | €114 | €139 | €35 | €151 | €102 | €786 | €43,160 | €143,472 | ▲ 232% |
| Profit (loss) for the period before taxes9903 | -€7,510 | -€8,211 | €15,004 | €12,357 | -€1,341 | -€8,511 | €11,530 | -€170,271 | - |
| Profit (loss) for the period9904 | -€7,510 | -€8,211 | €15,004 | €12,357 | -€1,341 | -€8,511 | €11,530 | -€170,271 | - |
| Profit (loss) for the period to be appropriated9905 | -€7,510 | -€8,211 | €15,004 | €12,357 | -€1,341 | -€8,511 | €11,530 | -€170,271 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.08m | €0.08m | €0.1m | €0.1m | €0.1m | €0.3m | €2.7m | €6.2m | ▲ 129% |
| Fixed assets21/28 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.2m | €2.6m | €6.0m | ▲ 130% |
| Tangible fixed assets22/27 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.2m | €2.6m | €6.0m | ▲ 130% |
| Land and buildings22 | - | - | - | €0.08m | €0.08m | €0.08m | €2.6m | €6.0m | ▲ 130% |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.1m | €0 | - | - |
| Financial fixed assets28 | - | - | - | - | - | - | €0.001m | €0.001m | = |
| Current assets29/58 | €0.003m | €0.005m | €0.02m | €0.03m | €0.04m | €0.08m | €0.07m | €0.2m | ▲ 119% |
| Amounts receivable within one year40/41 | €0.003m | €0.003m | €0.005m | €0.001m | €0.005m | €0.08m | €0.02m | €0.1m | ▲ 373% |
| Trade receivables40 | - | - | - | €0.001m | €0.004m | €0.08m | €0.02m | €0.1m | ▲ 370% |
| Other amounts receivable41 | - | - | - | €245 | €0.001m | €0.001m | €0 | €0.001m | - |
| Cash at bank and in hand54/58 | €20 | €0.001m | €0.01m | €0.03m | €0.03m | €0.003m | €0.05m | €0.05m | ▲ 10.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0 | €80 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.08m | €0.08m | €0.1m | €0.1m | €0.1m | €0.3m | €2.7m | €6.2m | ▲ 129% |
| Equity10/15 | -€0.2m | -€0.2m | -€0.2m | -€0.2m | €0.1m | €0.1m | €1.2m | €1.1m | ▼ 13.7% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.3m | €0.3m | €1.4m | €1.4m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.4m | ▼ 82.4% |
| Amounts payable17/49 | €0.3m | €0.3m | €0.3m | €0.3m | €0.01m | €0.2m | €1.5m | €5.1m | ▲ 252% |
| Amounts payable after more than one year17 | - | - | - | - | - | €0.08m | €1.3m | €4.8m | ▲ 259% |
| Financial debts170/4 | - | - | - | - | - | €0.08m | €1.3m | €4.8m | ▲ 259% |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.3m | €0.3m | €0.01m | €0.08m | €0.1m | €0.3m | ▲ 182% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €0.09m | €0.3m | ▲ 231% |
| Trade debts44 | €42 | - | €0.001m | €160 | €0.005m | €0.08m | €0.001m | €0.007m | ▲ 766% |
| Suppliers440/4 | - | - | - | €160 | €0.005m | €0.08m | €0.001m | €0.007m | ▲ 766% |
| Advances received on contracts in progress46 | - | - | - | - | €0.002m | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.003m | €0 | €0.02m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | €3 | €0.001m | €0.01m | €0.03m | ▲ 113% |
| Line | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.008m | -€0.008m | €0.02m | €0.01m | -€0.001m | -€0.009m | €0.01m | -€0.2m | - |
| + Depreciation and write-downs630 | - | - | - | €367 | €330 | €440 | €0.05m | €0.4m | ▲ 580% |
| Operating cash flow (approximation) | -€0.008m | -€0.008m | €0.02m | €0.01m | -€0.001m | -€0.008m | €0.07m | €0.2m | ▲ 205% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€0.002m | - | -€0.1m | -€2.5m | -€3.8m | ▼ 51.0% |
| Change in cash | - | €0.001m | €0.01m | €0.01m | - | -€0.03m | €0.05m | €0.005m | ▼ 88.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-07-2026 | 2026-00337172 |
| 31-12-2024 | abbreviated format | 14-07-2025 | 2025-00272793 |
| 31-12-2023 | abbreviated format | 03-05-2024 | 2024-00082621 |
| 31-12-2022 | abbreviated format | 19-06-2023 | 2023-00140862 |
| 31-03-2022 | micro format | 03-10-2022 | 2022-20446142 |
| 31-03-2021 | micro format | 28-09-2021 | 2021-68500409 |
| 31-03-2020 | micro format | 08-10-2020 | 2020-59600567 |
| 31-03-2019 | micro format | 24-09-2019 | 2019-65200597 |
| 31-03-2018 | micro format | 27-09-2018 | 2018-66400006 |
| 31-03-2017 | micro format | 20-09-2017 | 2017-61300083 |
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
Board 1
Permanent representatives 1
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| V.D.V.B.-IMMO |
|
| MUS Patrick |
|
Owners and capital
Owners
2 ownersChain of control
- V.D.V.B.-IMMO
- SPARROW CONSTRUCT
Highest known parent: V.D.V.B.-IMMO. The sources do not say who stands above it.
Owners 2
- V.D.V.B.-IMMOparentSourceact 23-07-2024100%
- VIANDYBELparentSourceaccounts VIANDYBEL 2025100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- V.D.V.B.-IMMO (BE 0476.444.994) enige aandeelhouder · all shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 23-07-2024 Capital stated in the deed · €1,125,000 · 100 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
23-07
Gazette deed
Capital & shares · RestructuringAuditor report · Capital contribution · Shareholding12 facts ▸
- Other provision, “Eerste beslissing: Voorafgaande verslagen, ontslag voorzitter van voorlezing verslagen” (deed in Dutch)
- Auditor report, “BE0453.925.059, 1020 Brussel, Esplanade 1 bus 96” (deed in Dutch)
- Other provision, “geen nieuwe aandelen ter vergoeding inbreng in natura, 5:120 §2” (deed in Dutch)
- Other provision, “no fairness opinion”, 5:133 (deed in Dutch)
- Other provision, “laattijdige verstrekking stukken en informatie” (deed in Dutch)
- Capital contribution, €1,125,000
- Other provision, “creatie aandelen bij inbreng”, 0 (deed in Dutch)
- Shareholding, “enige aandeelhouder, inbrenger” (deed in Dutch)
- Director in office, VANDYCKE Ivan (director)
- Other provision, “instemming met inbreng” (deed in Dutch)
- Capital, €1,125,000
- Power of attorney
10-01
Gazette deed
Resignation: MUS Patrick (director)Appointment: V.D.V.B.-IMMO (sole director) · Permanent representative: VAN BELLEGHEM Hilde · Capital conversion27 facts ▸
- General meeting, 23-12-2022
- Other provision, “aanpassing statuten aan WVV en behoud rechtsvorm BV, statuten aanpassen en rechtsvorm besloten vennootschap behouden” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening”, EUR (deed in Dutch)
- Reserve release, “beschikbaar voor uitkering, opheffing” (deed in Dutch)
- Other provision, “kennisname verslagen inbreng in natura en vrijstelling voorlezing, voorzitter ontslagen van voorlezing” (deed in Dutch)
- Auditor report, 22-12-2022
- Other provision, “ontvangst en opmerkingen verslagen, aandeelhouder” (deed in Dutch)
- Capital contribution, €300,000 (2 times)
- Other provision, “uitvoering opdracht en onderzochte aspecten, Norm inzake de opdracht van de bedrijfsrevisor in het kader van inbreng in natura en quasi-inbreng van het Instituu…” (deed in Dutch)
- Other provision, “waarderingsconclusie inbreng in natura, nominale waarde” (deed in Dutch)
- Other provision, “werkelijke vergoeding en geen fairness opinion”, EUR (deed in Dutch)
- Other provision, “laattijdige overhandiging stukken” (deed in Dutch)
- +15 further facts in this act
Show earlier events
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31039F0126/00B002 | Flanders | 1,918 m² | 1 · 942 m² | 9.5 m · 3 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SPARROW CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, administratieve zetels,agentschappen,werkhuizen,stapelplaatsen,bijkantoren in België of buitenland bij enkel besluit…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Één of meer bestuurders, natuurlijke personen of rechtspersonen,al dan niet aandeelhouder” (deed in Dutch)“Vergoeding van de bestuurders, algemene kosten” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Wednesday of June at 11:00