Equity
€1.4m ▲ 139%
Equity rose in 2025: capital increase.
Travaux Voiries et Conduites
Lifetime
18 annual accounts with figures on one time axis, 43 filings since 1982peak €4.8m (2025)
€4.8m▲ 204%
lowest -€378,304 (2014)
€834,210▲ €923,339
peak €1.4m (2025)
€1.4m▲ 139%
€2.4m▼ 52.1%
peak 74.7 FTE (2025)
74.7 FTE▲ 11.0%
Board7 names since 2019
2 directorsQM bv and 1 other
Owners3 names in the annual accounts
Documentsfilings and deeds
01-07-202630 days before the deadline
2025financial year
Gross margin from €1.6m to €4.8mBack to profit: €834,210Staff from 67.3 FTE to 74.7 FTEPermanent representatives: Maarten BROENS, Franco LUBANDY and… 25-09Registered office moved from Ath to Fleurus 02-091 statutory auditor appointed 03-03
Key points
from the 2025 annual accountsInvestments
€358,229 3.6 × depreciation
Green is investment, beige is depreciation.
Staff
72 employees on 31-12-2025
In 2025, 16 people joined and 16 left.
Liquidity
1.99 was 1.28 in 2024
Short-term debts fell from €4.2m to €1.7m.
Filings
43 annual accounts 44 filings since 1982
The 2015 accounts came 16 days late. The other nine of the last ten were filed on time.
Position in the sector
€834,210
Higher net result than 90% of companies in specialised construction. Sector median €42,705 · 2,461 companies.
Checked score
86
Excellent
Financially stronger than 84% of medium-sized companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 241 companies (NACE 43, medium-sized).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 5.1%highest value
01-2025: 4.7%▼ -0.4 percentage points vs 12-2024
02-2025: 4.7%● unchanged vs 01-2025
03-2025: 4.3%▼ -0.4 percentage points vs 02-2025
04-2025: 4.3%● unchanged vs 03-2025
05-2025: 4.3%● unchanged vs 04-2025
06-2025: 4.3%● unchanged vs 05-2025
07-2025: 4.3%● unchanged vs 06-2025
08-2025: 1.5%▼ -2.8 percentage points vs 07-2025
09-2025: 1.5%● unchanged vs 08-2025
10-2025: 2.1%▲ +0.6 percentage points vs 09-2025
11-2025: 2.1%● unchanged vs 10-2025
12-2025: 2.1%● unchanged vs 11-2025
01-2026: 2.1%● unchanged vs 12-2025
02-2026: 2.1%● unchanged vs 01-2026
03-2026: 2.2%▲ +0.1 percentage points vs 02-2026
04-2026: 2.2%● unchanged vs 03-2026
05-2026: 2.5%▲ +0.3 percentage points vs 04-2026
06-2026: 2.6%▲ +0.1 percentage points vs 05-2026
07-2026: 2.6%● unchanged vs 06-2026
08-2026: 0.6%▼ -2.0 percentage points vs 07-2026lowest value
09-2026: 0.6%● unchanged vs 08-2026lowest value
10-2026: 0.6%● unchanged vs 09-2026lowest value
11-2026: 0.6%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
Liquidity: current ratio 1.99
Sector: Specialised construction activities (NACE 43)
lowers risk
Figures for financial year 2025 (filed on 01-07-2026)
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, medium-sized). It does better than 57% of them on solvency, 90% on liquidity, 93% on profitability and 97% on growth.
The bankruptcy probability was computed on 07-11-2026 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, 1,579 companies had the same profile as Travaux Voiries et Conduites has now. Each dot stands for 4 companies, two years later.
96.6%
were still trading
3.2%
stopped another way
0.1%
went bankrupt
The bankruptcy probability of Travaux Voiries et Conduites itself is higher: 0.6% within 12 months. It rests on far more data about Travaux Voiries et Conduites 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 1,579 companies, not a prediction for Travaux Voiries et Conduites. 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 €120,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.99 (1.28 in 2024), above the usual 1.5. Short-term debt is 42.9% of total assets. However, 63% 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
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 days early
2024
16 days early
2024
on the day
2022
34 days early
2021
54 days early
2020
9 days early
2019
16 days early
← 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 23 days before 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.
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
QB
QM bv
Director, since 07-08-2023
- ALGEMENE PARTICIPATIE KERKHOFS 100%score 89equity €33.9m (2025) · annual accounts 2025
Recent changes
Permanent representatives: Maarten BROENS, Franco LUBANDY and Fréderic GRYSPEERDT
Board meeting of 01-09-2025 · Gazette deed
Registered office moved from Ath to Fleurus
New registered office: Rue du Progrès 2, 6220 Fleurus · Previous registered office: Chemin des Peupliers 7, 7800 Ath · Resignation: VEREECKE SERVICES srl (director) · Gazette deed
1 statutory auditor appointed
Moore Audit bv (statutory auditor) · Permanent representatives: Maarten BROENS and Ward KERKHOFS · General meeting of 01-01-2024 · Gazette deed
Capital increase of €2,250,000 to €2,560,000
Capital from €310,000 to €2,560,000 · General meeting of 13-12-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Travaux Voiries et Conduites Fleurus | €3.9m | €4.8m | 37.0% | 74.7 |
| Rc RENO Ciney | €3.6m | €3.2m | 59.1% | 48 |
| Quelque Chose à Faire Charleroi | €3.4m | €2.8m | 72.8% | 35.2 |
| XLG RENO Herstal | €2.6m | €3.1m | 47.4% | 42 |
| MULTIPROFESSIONELE ARCHITECTENVENNOOTSCHAP BUREAU BOUWTECHNIEK Antwerp | €4.0m | €3.6m | 42.1% | 42.8 |
| ART - REPARATION - BETON Herstal | €4.9m | €2.9m | 44.9% | 44 |
| AQUASTRA-GEVELREINIGING Menen | €3.8m | €3.1m | 56.9% | 36.1 |
These companies have the same main activity as Travaux Voiries et Conduites: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €2.6m and €4.9m, founded between 1981 and 1995.
Official details
Source: KBO- Status
- Active since 06-03-1981Normal situation
- Activity
- Other specialised construction activitiesNACE 43990and 4 others
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.018.641.1656220 Fleurus, since 18-03-1981
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- ≈ €14.0mestimated
- €3.9m▼ 31.9%
- Employeeson 31-12-2025
- 72=
- Filing
- Filed on 01-07-2026, 30 days before the end of the filing period
Insights on Travaux Voiries et Conduites
Travaux Voiries et Conduites has existed since 1981. The present size dates from 2025. The gross margin rose that year from €1.6m to €4.8m.
Solvency rose in 2025 from 10.5% to 37.0% because of the retained profit and lower debts.
ALGEMENE PARTICIPATIE KERKHOFS holds all the shares.
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 Travaux Voiries et Conduites
- What is the company number of Travaux Voiries et Conduites?
- The company number of Travaux Voiries et Conduites is 0421.337.613. The VAT number is the same number with BE in front: BE 0421.337.613.
- Where is Travaux Voiries et Conduites based?
- The registered office is at Rue du Progrès 2, 6220 Fleurus.Company details
- What does Travaux Voiries et Conduites do?
- According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
- What is the legal form of Travaux Voiries et Conduites?
- Travaux Voiries et Conduites is a public limited company (NV).
- When was Travaux Voiries et Conduites founded?
- Travaux Voiries et Conduites was founded on 06-03-1981.
- Is Travaux Voiries et Conduites still active?
- Yes, Travaux Voiries et Conduites is an active enterprise in the KBO register.
- How many employees does Travaux Voiries et Conduites have?
- Travaux Voiries et Conduites had an average of 74.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Travaux Voiries et Conduites fall under?
- In its 2025 annual accounts, Travaux Voiries et Conduites states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Travaux Voiries et Conduites?
- The turnover in financial year 2025 is ≈ €14.0m. This figure is estimated from the gross margin of €4.8m and 67 comparable companies (NACE 43). It probably lies between €10.0m and €18.0m. In financial year 2022 turnover was €9.6m.
- Is Travaux Voiries et Conduites profitable?
- In financial year 2025, Travaux Voiries et Conduites made a profit of €834,210.
- Where can I find the annual accounts of Travaux Voiries et Conduites?
- Travaux Voiries et Conduites filed 44 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Travaux Voiries et Conduites due?
- Travaux Voiries et Conduites must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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