Equity
-€36,103
Debts exceed assets in financial year 2025.
Trone Construct
Lifetime
5 annual accounts with figures on one time axispeak €175,498 (2025)
€175,498▲ 67.9%
lowest -€19,223 (2022)
-€11,255▲ €5,965
peak -€7,628 (2023)
-€36,103▼ €11,255
€2.4m▲ 29.7%
Board6 names since 2020
2 directors3D Real Estate and 1 other
Owners
Documentsfilings and deeds
11-09-202642 days late
2025financial year
Gross margin from €104,543 to €175,498Loss of €11,255Equity from -€24,848 to -€36,103Debts from €1.9m to €2.4mCash from €29,669 to €5,996
Key points
from the 2025 annual accountsLosses
-€28,475 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Debts
€2.4m 102% of the balance sheet
Suppliers 1%Taxes and wages 15%Other 84%
Of this, €386,050 falls due within a year.
Filings
5 annual accounts 4 late
The 2025 accounts came latest: 42 days after the end of the period.
Board
3 joined
New directors. Latest change 07-07-2026 · 3 in office.
Position in the sector
-€36,103
Less equity than 87% of companies in real estate. Sector median €942,893 · 5,811 companies.
Checked score
54
Fair
Financially stronger than 24% of small companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.7% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%lowest value
01-2025: 0.6%● unchanged vs 12-2024lowest value
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.7%▲ +0.1 percentage points vs 03-2025
05-2025: 0.8%▲ +0.1 percentage points vs 04-2025
06-2025: 0.8%● unchanged vs 05-2025
07-2025: 0.9%▲ +0.1 percentage points vs 06-2025
08-2025: 1.3%▲ +0.4 percentage points vs 07-2025
09-2025: 1.7%▲ +0.4 percentage points vs 08-2025highest value
10-2025: 0.6%▼ -1.1 percentage points vs 09-2025
11-2025: 0.7%▲ +0.1 percentage points vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.7%● unchanged vs 12-2025
02-2026: 0.7%● unchanged vs 01-2026
03-2026: 0.7%● unchanged vs 02-2026
04-2026: 0.7%● unchanged vs 03-2026
05-2026: 0.9%▲ +0.2 percentage points vs 04-2026
06-2026: 0.9%● unchanged vs 05-2026
07-2026: 1.0%▲ +0.1 percentage points vs 06-2026
08-2026: 0.7%▼ -0.3 percentage points vs 07-2026
09-2026: 0.9%▲ +0.2 percentage points vs 08-2026
10-2026: 1.7%▲ +0.8 percentage points vs 09-2026
11-2026: 1.7%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 6.13, cash €5,996, halved
1 change of registered office in 24 months
Negative equity -€36,103
lowers risk
Sector: Real estate activities (NACE 68)
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 68, small). It does better than 13% of them on solvency, 44% on liquidity, 31% on profitability and 9% on growth.
The bankruptcy probability was computed on 09-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 1,167 companies had the same profile as Trone Construct has now. Each dot stands for 3 companies, two years later.
94.9%
were still trading
2.8%
stopped another way
2.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Trone Construct itself: 1.7% within 12 months.
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 1,167 companies, not a prediction for Trone 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
No credit on open account
Liquidity is ample, with a current ratio of 6.13 (8.2 in 2024), above the usual 1.5. Short-term debt is 16.3% and cash 0.3% of total assets. However, equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year -€36,103
raises risk · 2025 accounts filed 42 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-09-2026, 42 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 · 5 filingsDeviation from the deadline
2025
42 days late
2024
29 days late
2023
5 days early
2022
30 days late
2021
8 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 21 days after 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.
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 29 August (4 of the last 5 accounts filed within 30 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
Board and ownership
- Motown Project Holding II 100%score 54equity €1.0m (2024) · 2024 annual accounts of Motown Project Holding II
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0750529580
Company renamed from Motown Trone Construct to Trone Construct
Registered office moved from Brussels to Ghent · New registered office: Onafhankelijkheidslaan 17-18, 9000 Gent · Previous registered office: Louizalaan 489, 1050 Brussel · General meeting of 27-08-2026 · Gazette deed
Capital increase of €1,241,894.14 to €1,246,894.14
Capital from €5,000 to €1,246,894.14 · MOTOWN HOLDING PROJECT II SA holds all the shares · Gazette deed
New director
SA MOTOWN PROJECT HOLDING II appointed, SA COMPAGNIE 14 resigned · Permanent representative: Lionel HEPNER · Director discharge: SA COMPAGNIE 14 · General meeting of 20-03-2026 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Trone Construct Ghent | €2.4m | €175,498 | -1.5% | - |
| De Waele Projects Evergem | €2.3m | €139,561 | -9.3% | - |
| Miix Deinze | €2.7m | €167,193 | 92.3% | 2.3 |
| Immo Mullem Oudenaarde | €2.4m | €154,671 | -2.1% | - |
| Gare Cinquante-Cinq Evergem | €2.3m | €116,457 | -7.4% | 0.8 |
| JALANOE Neufchâteau | €2.3m | €151,831 | 28.7% | - |
| 1000BriX Zaventem | €2.4m | €187,197 | -3.8% | 4.6 |
These companies have the same main activity as Trone Construct: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €2.3m and €2.7m, founded between 2019 and 2021.
Official details
Source: KBO- Status
- Active since 10-07-2020Normal situation
- Registered office
- 26 active companies are registered at this addressSource: KBO register, as of 9 November 2026.
- Activity
- Development of residential building projectsNACE 68121and 1 other
- Establishment unit
- 2.312.712.3051050 Brussels, since 10-07-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 17-09-2026
Companies linked to Trone Construct
Insights on Trone Construct
The gross margin has grown every year since 2021.
Motown Project Holding II 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 Trone Construct
- What is the company number of Trone Construct?
- The company number of Trone Construct is 0750.529.580. The VAT number is the same number with BE in front: BE 0750.529.580.
- Where is Trone Construct based?
- The registered office is at Onafhankelijkheidslaan 17-18, 9000 Ghent.Company details
- What does Trone Construct do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of Trone Construct?
- Trone Construct is a private limited company (BV).
- When was Trone Construct founded?
- Trone Construct was founded on 10-07-2020.
- Is Trone Construct still active?
- Yes, Trone Construct is an active enterprise in the KBO register.
- What is the turnover of Trone Construct?
- The turnover in financial year 2025 is ≈ €370,000. This figure is estimated from the gross margin of €175,498 and 33 comparable companies (NACE 681). It probably lies between €240,000 and €860,000.Financials
- Is Trone Construct profitable?
- In financial year 2025, Trone Construct made a loss of €11,255.
- Where can I find the annual accounts of Trone Construct?
- Trone Construct filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Trone Construct due?
- Trone Construct must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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