SQUARE CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of SQUARE CONSTRUCT is 2.0% (moderate). The 2025 annual accounts show equity of €39,210 and a net result of €33,781. Its solvency ranks better than 20% of 7564 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+35
Solvency38▲+9
Growth78
Track record82
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 1.0 in 2024; short-term debt: 86.6% and cash: 4.8% of total assets), and 86.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13.4%
Return on assets
11.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 7564 sector peers (2025).
NBB · sector comparisonPosition among 7564 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 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 · 2 filingsDeviation from the deadline
2025
39 d late
2024
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 34 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€39,210▲ 622%
2024 · €5,429
Total assets
€293,587▲ 121%
2024 · €132,754
Net result
€33,781▲ 522%
2024 · €5,429
Working capital
€35,310▲ 15,324%
2024 · €229
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
Line20242025
Operating result€5,429-€33,904▲ 525%
Net result€5,429-€33,781▲ 522%
Equity€5,429-€39,210▲ 622%
Total assets€132,754-€293,587▲ 121%
Debt€127,325-€254,378▲ 99.8%
Working capital€229-€35,310▲ 15,324%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2025 Total assets +121% on 2024. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result rises in 2025; 2025 is 525% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €293,587
Fixed assets
€3,900 ▼ 25.0%
Current assets
€289,687 ▲ 127%
Equity and liabilities €293,587
Equity
€39,210 ▲ 622%
Debt
€254,378 ▲ 99.8%
Debt's share of the balance-sheet total falls from 95.9% to 86.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35,204▲
2024 · €6,729
Cash flow
€35,081▲
2024 · €6,729
Current ratio
1.14▲
2024 · 1.00
Debt to equity
6.49▼
2024 · 23.45
ROE
86.2%▼
2024 · 100.0%
ROA
11.5%▲
2024 · 4.1%
Interest coverage
286.00
Debt ≤ 1 year
€254,378▲
2024 · €127,325
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 7,976 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.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,300 | €1,300 | = |
| Other operating charges640/8 | €180 | €370 | ▲ 105% |
| Gross operating margin9900 | €6,909 | €35,574 | ▲ 415% |
| Operating profit (loss)9901 | €5,429 | €33,904 | ▲ 525% |
| Financial charges65/66B | - | €123 | - |
| Recurring financial charges65 | - | €123 | - |
| Profit (loss) for the period before taxes9903 | €5,429 | €33,781 | ▲ 522% |
| Profit (loss) for the period9904 | €5,429 | €33,781 | ▲ 522% |
| Profit (loss) for the period to be appropriated9905 | €5,429 | €33,781 | ▲ 522% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €132,754 | €293,587 | ▲ 121% |
| Fixed assets21/28 | €5,200 | €3,900 | ▼ 25.0% |
| Tangible fixed assets22/27 | €5,200 | €3,900 | ▼ 25.0% |
| Furniture and vehicles24 | €5,200 | €3,900 | ▼ 25.0% |
| Current assets29/58 | €127,554 | €289,687 | ▲ 127% |
| Amounts receivable within one year40/41 | €98,470 | €275,611 | ▲ 180% |
| Trade receivables40 | €80,597 | €260,718 | ▲ 223% |
| Other amounts receivable41 | €17,873 | €14,893 | ▼ 16.7% |
| Cash at bank and in hand54/58 | €29,084 | €14,076 | ▼ 51.6% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €132,754 | €293,587 | ▲ 121% |
| Equity10/15 | €5,429 | €39,210 | ▲ 622% |
| Profit (loss) carried forward14 | €5,429 | €39,210 | ▲ 622% |
| Amounts payable17/49 | €127,325 | €254,378 | ▲ 99.8% |
| Amounts payable within one year42/48 | €127,325 | €254,378 | ▲ 99.8% |
| Trade debts44 | €86,591 | €254,378 | ▲ 194% |
| Suppliers440/4 | €86,591 | €254,378 | ▲ 194% |
| Other amounts payable47/48 | €40,734 | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €5,429 | €33,781 | ▲ 522% |
| + Depreciation and write-downs630 | €1,300 | €1,300 | = |
| Operating cash flow (approximation) | €6,729 | €35,081 | ▲ 421% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | -€15,008 | - |
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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 39 days late
28-08
State Gazette act
Appointment: HARRAM ABDERRAHIM (director)Resignation: HARRAM NAIMA (director)4 facts ▸
State Gazette act
Appointment: HARRAM ABDERRAHIM (director)
Resignation: HARRAM NAIMA (director)4 facts ▸
- General meeting, 01-07-2026
- Director appointment, HARRAM ABDERRAHIM (director)
- Director resignation, HARRAM NAIMA (director)
- Director in office, HARRAM ABDERRAHIM (director)
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
State Gazette actNBB filing
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
HARRAM ABDERRAHIM
CurrentDirector · since 01-07-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Ternat · 1 establishment unit since 2024
Ground area
82 m²
Building footprint
59 m²
Volume, LiDAR
495 m³
Parcel 23086A0354/00K002, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Assesteenweg 116, 1740 Ternat
since 20242.355.591.550
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23086A0354/00K002 | Flanders | 82 m² | 1 · 58 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| HARRAM ABDERRAHIM |
|
| HARRAM NAIMA |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 12,845 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
Founded31-10-2023
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68121Development of residential building projects
81210General cleaning of buildings
Contact
E-mail
square-immo@hotmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:1001828371
Also
9925:BE1001828371
Registered
14-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.