Equity
€92,751 ▲ 16.0%
TOP CONSTRUCT paid out €1,666 in dividends. That is 12% of the 2025 profit.
TOP CONSTRUCT
Lifetime
10 annual accounts with figures on one time axispeak €90,398 (2020)
€27,443▲ 26.0%
lowest -€1,966 (2022)
€14,427▼ 1.3%
peak €118,427 (2021)
€92,751▲ 16.0%
€84,000▼ 34.3%
Board2 names since 2015
1 directorNegruser ion
Documentsfilings and deeds
15-10-202676 days late
2025micro format
Gross margin from €21,779 to €27,443Dividend €1,666Equity from €79,989 to €92,751Debts from €127,828 to €84,000Cash from €6,317 to €14,909
Key points
from the 2025 annual accountsFilings
10 annual accounts 76 days
Latest accounts filed late: after the legal deadline.
At the same address
13 companies
Checked score
64
Healthy
Financially stronger than 51% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.4%
01-2025: 1.4%● unchanged vs 12-2024
02-2025: 1.4%● unchanged vs 01-2025
03-2025: 1.4%● unchanged vs 02-2025
04-2025: 1.3%▼ -0.1 percentage points vs 03-2025
05-2025: 1.3%● unchanged vs 04-2025
06-2025: 1.3%● unchanged vs 05-2025lowest value
07-2025: 1.4%▲ +0.1 percentage points vs 06-2025
08-2025: 1.8%▲ +0.4 percentage points vs 07-2025
09-2025: 2.1%▲ +0.3 percentage points vs 08-2025
10-2025: 3.1%▲ +1.0 percentage point vs 09-2025highest value
11-2025: 2.2%▼ -0.9 percentage points vs 10-2025
12-2025: 2.2%● unchanged vs 11-2025
01-2026: 2.2%● unchanged vs 12-2025
02-2026: 2.2%● unchanged vs 01-2026
03-2026: 2.1%▼ -0.1 percentage points vs 02-2026
04-2026: 1.9%▼ -0.2 percentage points vs 03-2026
05-2026: 1.9%● unchanged vs 04-2026
06-2026: 1.8%▼ -0.1 percentage points vs 05-2026
07-2026: 1.8%● unchanged vs 06-2026
08-2026: 2.3%▲ +0.5 percentage points vs 07-2026
09-2026: 2.6%▲ +0.3 percentage points vs 08-2026
10-2026: 1.4%▼ -1.2 percentage points vs 09-2026
11-2026: 1.4%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 76 days late; 2 of the last 3 accounts late
Size: total assets €176,750
Sector: Specialised construction activities (NACE 43)
lowers risk
Founded in 2015
Calculation
The band follows from the bankruptcy probability. 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). It does better than 57% of them on solvency, 25% on liquidity, 57% on profitability and 63% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as TOP CONSTRUCT has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
The bankruptcy probability of TOP CONSTRUCT itself is higher: 1.4% within 12 months. It rests on far more data about TOP CONSTRUCT than the profile alone.
Test of the method
The method was tested on the 497,447 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 TOP 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.
Credit verdict
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.09 (1.61 in 2024), above the usual 1.5. Short-term debt is 47.5% and cash 8.4% of total assets. 47.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €92,751
raises risk · 2025 accounts filed 76 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-10-2026, 76 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
76 days late
2024
61 days late
2023
23 days late
2022
164 days late
2021
488 days late
2020
89 days late
2019
66 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 138 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 15 October (4 of the last 5 accounts filed within 88 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
End & cessation
Gazette deed
Judicial dissolution, liquidator appointed
French-language Enterprise Court of Brussels · Anicet Baum · judgment of 22-01-2026 · Bankruptcy
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0641840288
Amendment of the articles · Legal-form change
Board composition: NEGRUSER Ion (sole director) · General meeting of 13-12-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| TOP CONSTRUCT Brussels | €176,750 | €27,443 | 52.5% | - |
| MVM BÂTIMENT Brussels | €141,089 | €25,497 | 39.3% | - |
| MOLI CONSTRUCT Evere | €182,090 | €27,094 | 61.1% | - |
| ADECORS Jette | €170,108 | €26,239 | 24.6% | - |
| K&W RENOVATIONS Brussels | €167,984 | €22,349 | 79.4% | - |
| ZULD CONSTRUCT Anderlecht | €154,198 | €31,546 | 51.0% | - |
| ELI RENOV Jette | €209,537 | €30,829 | 80.5% | - |
These companies have the same main activity as TOP CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €141,000 and €210,000, founded between 2014 and 2016.
Official details
Source: KBO- Status
- Active since 23-10-2015Normal situation
- Registered office
- 14 active companies are registered at this addressSource: KBO register, as of 9 November 2026.
- Activity
- Other specialised construction activitiesNACE 43990and 2 others
- Establishment unit
- 2.246.846.3351020 Brussels, since 23-10-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 13-12-2025
Insights on TOP CONSTRUCT
TOP CONSTRUCT files the micro format. That format states no turnover. The gross margin fell from €62,176 in 2016 to €27,443 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about TOP CONSTRUCT
- What is the company number of TOP CONSTRUCT?
- The company number of TOP CONSTRUCT is 0641.840.288. The VAT number is the same number with BE in front: BE 0641.840.288.
- Where is TOP CONSTRUCT based?
- The registered office is at Strijderssquare 9, 1020 Brussels.Company details
- What does TOP CONSTRUCT do?
- According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
- What is the legal form of TOP CONSTRUCT?
- TOP CONSTRUCT is a private limited company (BV).
- When was TOP CONSTRUCT founded?
- TOP CONSTRUCT was founded on 23-10-2015.
- Is TOP CONSTRUCT still active?
- Yes, TOP CONSTRUCT is an active enterprise in the KBO register.
- What is the turnover of TOP CONSTRUCT?
- The turnover in financial year 2025 is ≈ €240,000. This figure is estimated from the gross margin of €27,443 and 93 comparable companies (NACE 43990). It probably lies between €160,000 and €420,000.Financials
- Is TOP CONSTRUCT profitable?
- In financial year 2025, TOP CONSTRUCT made a profit of €14,427.
- Where can I find the annual accounts of TOP CONSTRUCT?
- TOP CONSTRUCT filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of TOP CONSTRUCT due?
- TOP CONSTRUCT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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