Result
The result rose in 2025 from €15,654 to €182,795.
The result rose in 2025 from €15,654 to €182,795.
The abbreviated format states no turnover.
Of this, €10.0m falls due within a year.
The last five annual accounts were filed 4 to 37 days before the end of the period.
Lower solvency than 82% of companies in real estate. Sector median 30.8% · 11,289 companies.
The dashed line is the sector median: 0.1% across 1,721 companies (NACE 68, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, medium-sized). It does better than 15% of them on solvency, 11% on liquidity, 46% on profitability and 95% on growth.
The bankruptcy probability was computed on 06-11-2026 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 very low class on 30-06-2025, 0.1% 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).
In July 2024, 143 companies had the same profile as TripleA - Construct has now. Each dot is one company, two years later.
The bankruptcy probability of TripleA - Construct itself is lower: 0.1% within 12 months. It rests on far more data about TripleA - Construct than the profile alone.
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 143 companies, not a prediction for TripleA - 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.
Liquidity is tight, with a current ratio of 1.29 (1.4 in 2024), below the usual 1.5. Short-term debt is 77.5% and cash 5.1% of total assets. 99.5% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 25 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| TripleA - Construct Bilzen-Hoeselt | €12.9m | €328,501 | 0.5% | 0 |
| Leisure and Hotel Properties Ghent | €16.7m | €351,540 | 52.5% | 0 |
| R&B Food Immo Beringen | €9.3m | €756,796 | 2.7% | 0 |
| ICN BB2990 Brussels | €9.7m | €646,684 | -2.2% | 0 |
| BERTHOUT Antwerp | €9.8m | €447,543 | 2.4% | 0 |
| Fullerstone Development Antwerp | €8.1m | €378,863 | 9.3% | 0 |
| ICN VAMS Brussels | €9.7m | €789,902 | -20.4% | 0 |
These companies have the same main activity as TripleA - Construct: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €8.1m and €17m, founded between 2016 and 2018.
TripleA - Construct files the abbreviated format. That format states no turnover. The gross margin rose from -€5,745 in 2019 to €328,501 in 2025.
P & A INVEST holds 65% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €580,000. Estimated: probably between €440,000 and €960,000.
Amounts without an identifiable currency are taken as euros.
Higher than 18% of 11,289 companies in 2025.
Higher than 55% of 10,841 companies in 2025.
Higher than 55% of 11,174 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
12.9m | 5.3m | 7.8m | 4.4m | 1.6m | 1.4m | 1.2m | |
20 |
- | - | - | - | - | 0 | 0 | |
21/28 |
325 | 1,183 | 2,042 | - | - | - | - | |
21 |
- | - | - | - | - | 0 | 0 | |
22/27 |
325 | 1,183 | 2,042 | - | - | - | - | |
22 |
- | - | - | - | - | 0 | 0 | |
23 |
- | - | - | - | - | 0 | 0 | |
24 |
325 | 1,183 | 2,042 | - | - | 0 | 0 | |
26 |
- | - | - | - | - | 0 | 0 | |
27 |
- | - | - | - | - | 0 | 0 | |
28 |
- | - | - | - | - | 0 | 0 | |
29/58 |
12.9m | 5.3m | 7.8m | 4.4m | 1.6m | 1.4m | 1.2m | |
290 |
- | - | - | - | - | 0 | 0 | |
291 |
- | - | - | - | - | 0 | 0 | |
3 |
10.9m | 4.2m | 7.1m | 3.2m | 1.3m | 1.3m | 211,726 | |
30/36 |
- | - | - | - | - | 0 | 0 | |
37 |
10.9m | 4.2m | 7.1m | 3.2m | 1.3m | 1.3m | 211,726 | |
40/41 |
1.3m | 337,064 | 450,548 | 680,286 | 78,654 | 67,507 | 906,534 | |
40 |
118,999 | 38,705 | 8,594 | 205,052 | 20,000 | 0 | 0 | |
41 |
1.1m | 298,360 | 441,954 | 475,235 | 58,654 | 67,507 | 906,534 | |
50/53 |
- | - | - | - | - | 0 | 0 | |
54/58 |
657,345 | 771,976 | 277,192 | 508,593 | 232,509 | 940 | 85,000 | |
490/1 |
- | - | - | - | - | 0 | 0 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
12.9m | 5.3m | 7.8m | 4.4m | 1.6m | 1.4m | 1.2m | |
10/15 |
63,381 | -119,413 | -135,067 | -76,852 | -29,234 | -14,787 | 13,276 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | |
101 |
- | - | - | - | - | - | 0 | |
11 |
- | - | - | - | - | - | 0 | |
1100/10 |
- | - | - | - | - | - | 0 | |
12 |
- | - | - | - | - | 0 | 0 | |
13 |
44,781 | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 0 | |
1311 |
- | - | - | - | - | 0 | - | |
1312 |
- | - | - | - | - | - | 0 | |
1313 |
- | - | - | - | - | 0 | - | |
1319 |
- | - | - | - | - | 0 | 0 | |
132 |
- | - | - | - | - | 0 | 0 | |
133 |
44,781 | - | - | - | - | 0 | 0 | |
14 |
0 | -138,013 | -153,667 | -95,452 | -47,834 | -33,387 | -5,324 | |
15 |
- | - | - | - | - | 0 | 0 | |
160/5 |
- | - | - | - | - | 0 | 0 | |
160 |
- | - | - | - | - | 0 | 0 | |
161 |
- | - | - | - | - | 0 | 0 | |
162 |
- | - | - | - | - | 0 | 0 | |
163 |
- | - | - | - | - | 0 | 0 | |
164/5 |
- | - | - | - | - | 0 | 0 | |
168 |
- | - | - | - | - | 0 | 0 | |
17/49 |
12.8m | 5.4m | 7.9m | 4.5m | 1.7m | 1.4m | 1.2m | |
17 |
2.8m | 1.6m | 1.6m | 1.1m | 450,000 | - | - | |
170/4 |
2.8m | 1.6m | 1.6m | 1.1m | 450,000 | - | - | |
175 |
- | - | - | - | - | 0 | 0 | |
176 |
- | - | - | - | - | 0 | 0 | |
178/9 |
- | - | - | - | - | 0 | 0 | |
42/48 |
10.0m | 3.8m | 6.3m | 3.4m | 1.2m | 1.4m | 1.2m | |
42 |
- | - | - | - | - | 0 | 0 | |
43 |
3.6m | 1.6m | 209,521 | 532,030 | 226,705 | 784,271 | 1.2m | |
430/8 |
3.6m | 1.6m | 209,521 | 532,030 | 226,705 | 784,271 | 1.2m | |
439 |
- | - | - | - | - | 0 | 0 | |
44 |
705,224 | 230,098 | 351,237 | 165,648 | 220,337 | 55,093 | 4,659 | |
440/4 |
705,224 | 230,098 | 351,237 | 165,648 | 220,337 | 55,093 | 4,659 | |
441 |
- | - | - | - | - | 0 | 0 | |
46 |
2.8m | 1.2m | 5.1m | 2.4m | 64,400 | 0 | 0 | |
45 |
101,591 | 17,988 | 11,479 | 113,270 | - | - | - | |
450/3 |
101,591 | 17,988 | 11,479 | 113,270 | - | 0 | 0 | |
454/9 |
- | - | - | - | - | 0 | 0 | |
47/48 |
2.7m | 784,663 | 592,158 | 218,388 | 694,925 | 526,229 | 326 | |
492/3 |
14,367 | 8,315 | 797 | 3,110 | 497 | 1,024 | 0 | |
| Income statement | ||||||||
76A |
581 | - | - | - | - | 0 | 0 | |
9900 |
328,501 | 68,092 | -48,553 | -52,100 | 41,896 | -6,219 | -5,745 | |
62 |
- | - | - | - | - | 0 | 0 | |
630 |
859 | 859 | 534 | - | - | 0 | 1,189 | |
631/4 |
- | - | - | - | - | 0 | 0 | |
635/8 |
- | - | - | - | - | 0 | 0 | |
640/8 |
5,530 | 3,868 | 5,575 | 4,496 | 10,518 | 635 | 1,068 | |
649 |
- | - | - | - | - | 0 | 0 | |
66A |
- | - | - | - | - | 0 | 582 | |
9901 |
322,112 | 63,365 | -54,662 | -56,596 | 31,378 | -6,853 | -8,584 | |
75/76B |
16,479 | 21,463 | 20,265 | 21,359 | 411 | 33 | 10,775 | |
75 |
16,479 | 21,463 | 20,265 | 21,359 | 411 | 33 | 10,775 | |
76B |
- | - | - | - | - | 0 | 0 | |
65/66B |
138,985 | 69,175 | 23,818 | 12,380 | 46,236 | 21,243 | 7,515 | |
65 |
138,985 | 69,175 | 23,818 | 12,380 | 46,236 | 21,243 | 7,515 | |
66B |
- | - | - | - | - | 0 | 0 | |
9903 |
199,607 | 15,654 | -58,215 | -47,618 | -14,447 | -28,063 | -5,324 | |
67/77 |
16,812 | - | - | - | - | 0 | 0 | |
9904 |
182,795 | 15,654 | -58,215 | -47,618 | -14,447 | -28,063 | -5,324 | |
789 |
- | - | - | - | - | 0 | 0 | |
689 |
- | - | - | - | - | 0 | 0 | |
9905 |
182,795 | 15,654 | -58,215 | -47,618 | -14,447 | -28,063 | -5,324 | |
| Appropriation of the result | ||||||||
9906 |
44,781 | -138,013 | -153,667 | -95,452 | -47,834 | -33,387 | -5,324 | |
14P |
-138,013 | -153,667 | -95,452 | -47,834 | -33,387 | - | - | |
791/2 |
- | - | - | - | - | 0 | 0 | |
691/2 |
44,781 | - | - | - | - | - | - | |
691 |
- | - | - | - | - | 0 | 0 | |
6920 |
- | - | - | - | - | 0 | 0 | |
6921 |
44,781 | - | - | - | - | 0 | 0 | |
694 |
- | - | - | - | - | 0 | 0 | |
695 |
- | - | - | - | - | 0 | 0 | |
696 |
- | - | - | - | - | 0 | 0 | |
| Social balance sheet | ||||||||
9087 |
0 | - | - | - | - | 0 | 0 | |
| Document | ||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-07-2026 | 2026-00334591 | |
| 31-12-2024 | abbreviated format | 26-06-2025 | 2025-00179686 | |
| 31-12-2023 | abbreviated format | 24-06-2024 | 2024-00152812 | |
| 31-12-2022 | abbreviated format | 10-07-2023 | 2023-00219385 | |
| 31-12-2021 | abbreviated format | 24-06-2022 | 2022-20088697 | |
| 31-12-2020 | abbreviated format | 29-06-2021 | 2021-27400380 | |
| 31-12-2019 | abbreviated format | 24-07-2020 | 2020-34200245 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 322,971 | 64,224 | -54,128 | - | - | -6,853 | -7,395 | ||
| 183,653 | 16,512 | -57,681 | - | - | -28,063 | -4,135 | ||
| 0 | 0 | 2,576 | - | - | 0 | - | ||
| -114,631 | 494,784 | -231,401 | 276,084 | 231,569 | -84,060 | - | ||
| 2.9m | 1.5m | 1.5m | 1.0m | 421,263 | -13,763 | 13,276 | ||
| 0.5% | -2.3% | -1.7% | -1.7% | -1.8% | -1.1% | 1.1% | ||
| 1.29 | 1.40 | 1.23 | 1.31 | 1.35 | 0.99 | 1.01 | ||
| 0.19 | 0.29 | 0.12 | 0.35 | 0.26 | 0.05 | 0.83 | ||
| - | - | - | - | - | - | 89.63 | ||
| 288.4% | - | - | - | - | - | -40.1% | ||
| 1.4% | 0.3% | -0.7% | -1.1% | -0.9% | -2.1% | -0.4% | ||
| 2.32 | 0.93 | -2.27 | - | - | - | - |
A ratio outside any meaningful range has been withheld (balance sheet total €12.9m, equity €63,381).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €2,576 | - | - |
| €859 | €859 | €534 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 5.1 times that of 2024 and the highest since 2019. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total is 99.5%.
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of P & A INVEST. Every holding stands with its own latest accounts.
| bpost
establishment since 20-01-2000 · founded in 1974 |
23,730 FTE (2025) 0214.596.464 |
| TripleA - Real Estate
registered office since 31-05-2018 · founded in 2018 |
total assets €7.1m (2025) 0691.674.534 |
| P & A INVEST
registered office since 26-07-1993 · founded in 1993 |
total assets €3.5m (2025) 0449.743.963 |
| EUROTAXUS
registered office since 03-11-1989 · founded in 1989 |
total assets €2.0m (2025) 0438.855.615 |
| IMMOPA-BIS
registered office since 13-08-2024 · founded in 2024 |
1.1 FTE (2025) 1012.447.594 |
| Stylio
registered office since 31-03-2015 · founded in 2015 |
total assets €993,173 (2025) 0627.724.711 |
| VIP INVEST
registered office since 31-03-2015 · founded in 2015 |
total assets €855,547 (2025) 0627.725.206 |
| JAPA Immoservice
registered office since 01-03-2014 · founded in 2014 |
total assets €379,648 (2025) 0546.713.180 |
| Immo P&A via LPK (no longer at Immo P&A) and TRYELOU (no longer at Immo P&A) · Director · deeds of 08-01-2024 and 24-08-2021 No longer active |
2.7 FTE (2023) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
All 21 environmental permit applications
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Wijngaardstraat 8 registered office 3740 Bilzen-Hoeselt 6812101 Development of residential building projects | 31-05-2018 | 2.277.675.014 |
| 01-09-2026 | Under review | Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies project 2026095861 | Tervuren |
| 11-08-2026 | Under review | Bomen vellen die geen deel uitmaken van een bos en/of bodemreliëf wijzigen; Bouwen of herbouwen; Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen; Verwijderen van vrijstaande gebouwen project 2026070309 | Bertem |
| 23-02-2026 | Granted | Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 02-09-2025 · project 2025101036 | Tervuren |
| 09-02-2026 | Refused | Bomen vellen die geen deel uitmaken van een bos en/of bodemreliëf wijzigen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Verbouwen en/of uitbreiden van bijgebouwen, niet-overdekte lage constructies of wijzigen van andere beperkte handelingen submitted 08-09-2025 · project 2025106217 | Bilzen-Hoeselt |
| 05-09-2025 | Discontinued | Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen submitted 02-09-2025 · Notification · project 2025100089 | Bilzen-Hoeselt |
| 30-06-2025 | Granted | Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 13-02-2025 · project 2024140732 | Bertem |
| 07-10-2024 | Granted | Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 10-06-2024 · project 2024075932 | Herent |
| 18-09-2024 | Granted | Functiewijziging zonder verbouwingswerken submitted 20-08-2024 · project 2024113096 | Wezembeek-Oppem |
| 25-03-2024 | Refused | Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 28-09-2023 · project 2023129038 | Herent |
| 06-02-2024 | Discontinued | Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 22-12-2023 · project 2023161787 | Tervuren |
The 10 most recent of 21 applications.
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 73056A0597/00E000 | 1,290 m² | 1 · 313 m² | 12.2 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0691.674.633
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