UNICONSTRUCT
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 12-01-2026 PDF all 18 filings
Turnover
€33.3m▼ 10.8%
2024 · €37.3m
EBIT margin
-0.2%▼ 0.9pp
2024 · 0.8%
Net result
€271,923▼ 53.8%
2024 · €588,781
Working capital
€7.6m▲ 3.7%
2024 · €7.3m
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€33.3m
▼ 10.8%
2025
20192025
Operating result
-€55,888
2025
20192025
Net result
€271,923
▼ 53.8%
2025
middle half of the sector
20192025
EBIT margin
-0.2%
▼ 0.9pp
2025
20192025
Equity
€7.7m
▲ 3.7%
2025
highest quarter of the sector
20192025
Total assets
€11.1m
▲ 3.4%
2025
middle half of the sector
20192025
Debt
€3.4m
▲ 2.8%
2025
20192025
Working capital
€7.6m
▲ 3.7%
2025
highest quarter of the sector
20192025
Solvency
69.6%
▲ 0.2pp
2025
highest quarter of the sector
20192025
Current ratio
3.26
▼ 0.01
2025
highest quarter of the sector
20192025
Return on assets (ROA)
2.5%
▼ 3.0pp
2025
middle half of the sector
20192025
Staff (FTE)
9.6
▲ 12.9%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€33.0m-€33.3m▲ 0.8%€37.7m▲ 13.4%€41.1m▲ 8.9%€39.6m▼ 3.5%€37.3m▼ 6.0%€33.3m▼ 10.8%
Operating result€0.4m-€0.3m▼ 14.6%€0.4m▲ 25.3%€0.5m▲ 25.2%€0.2m▼ 64.6%€0.3m▲ 50.2%-€0.06m
Net result€0.5m-€0.5mabove the sector's middle half▼ 4.6%€0.7mabove the sector's middle half▲ 27.9%€0.8mabove the sector's middle half▲ 18.2%€0.5mwithin the sector's middle half▼ 31.4%€0.6mabove the sector's middle half▲ 9.4%€0.3mwithin the sector's middle half▼ 53.8%
EBIT margin1.2%-1.0%▼ 0.2pp1.1%▲ 0.1pp1.3%▲ 0.2pp0.5%▼ 0.8pp0.8%▲ 0.3pp-0.2%▼ 0.9pp
Equity€4.3m-€4.9mabove the sector's middle half▲ 11.9%€5.5mabove the sector's middle half▲ 13.5%€6.3mabove the sector's middle half▲ 14.2%€6.8mabove the sector's middle half▲ 8.5%€7.4mabove the sector's middle half▲ 8.6%€7.7mabove the sector's middle half▲ 3.7%
Total assets€7.7m-€8.5mwithin the sector's middle half▲ 10.7%€9.7mwithin the sector's middle half▲ 13.0%€10.9mwithin the sector's middle half▲ 13.3%€10.8mwithin the sector's middle half▼ 1.5%€10.7mwithin the sector's middle half▼ 0.6%€11.1mwithin the sector's middle half▲ 3.4%
Debt€3.4m-€3.7m▲ 9.1%€4.1m▲ 12.4%€4.6m▲ 12.2%€3.9m▼ 15.2%€3.3m▼ 16.6%€3.4m▲ 2.8%
Working capital€4.3m-€4.9mabove the sector's middle half▲ 11.8%€5.5mabove the sector's middle half▲ 13.6%€6.1mabove the sector's middle half▲ 11.0%€6.7mabove the sector's middle half▲ 8.7%€7.3mabove the sector's middle half▲ 10.2%€7.6mabove the sector's middle half▲ 3.7%
Solvency56.4%-57.0%within the sector's middle half▲ 0.6pp57.2%within the sector's middle half▲ 0.2pp57.7%within the sector's middle half▲ 0.4pp63.6%above the sector's middle half▲ 5.9pp69.4%above the sector's middle half▲ 5.9pp69.6%above the sector's middle half▲ 0.2pp
Current ratio2.29-2.32within the sector's middle half▲ 0.032.34within the sector's middle half▲ 0.012.33within the sector's middle half▼ 0.012.70within the sector's middle half▲ 0.373.27above the sector's middle half▲ 0.573.26above the sector's middle half▼ 0.01
Return on assets (ROA)7.0%-6.1%within the sector's middle half▼ 1.0pp6.9%within the sector's middle half▲ 0.8pp7.2%within the sector's middle half▲ 0.3pp5.0%within the sector's middle half▼ 2.2pp5.5%within the sector's middle half▲ 0.5pp2.5%within the sector's middle half▼ 3.0pp
Staff (FTE)6.4-6.3within the sector's middle half▼ 1.6%7.3within the sector's middle half▲ 15.9%7.9within the sector's middle half▲ 8.2%7.9within the sector's middle half=8.5within the sector's middle half▲ 7.6%9.6within the sector's middle half▲ 12.9%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €55,888, after a profit of €283,584 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.1m
Fixed assets
€92,793 ▼ 32.5%
Current assets
€11.0m ▲ 3.9%
Equity and liabilities €11.1m
Equity
€7.7m ▲ 3.7%
Debt
€3.4m ▲ 2.8%
Debt's share of the balance-sheet total falls from 30.6% to 30.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€3,738▼
2024 · €335,013
Cash flow
€324,073▼
2024 · €640,210
Quick ratio
3.08▼
2024 · 3.12
Debt to equity
0.44▼
2024 · 0.44
ROE
3.5%▼
2024 · 7.9%
Interest coverage
-3.53▼
2024 · over 100
Debt ≤ 1 year
€3.4m▲
2024 · €3.2m
Income taxes
€105,026▼
2024 · €201,165
Customer credit
82 days▼
2024 · 85 days
Supplier credit
36 days▲
2024 · 31 days
Staff costs
€792,142▲
2024 · €703,614
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 9 | 10 | 8 |
| full-time | 7 | 9 | 9 | 8 |
| part-time | 1 | - | 1 | - |
| in full-time equivalents | 7.8 | 9 | 9.1 | 8 |
| Average over the year, in full-time equivalents | 7.9 | 7.9 | 8.5 | 9.6 |
| On a permanent contract | 8 | 9 | 9 | 8 |
| Joined | 4 | 4 | 2 | 2 |
| Left | 4 | 3 | 1 | 4 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €208,490 | €48,333 | - | €7,476 |
| Intangible fixed assets | - | €4,200 | - | - |
| Depreciation and write-downs of the year | €21,252 | €50,874 | €51,429 | €52,150 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Fee for the audit | €5,203 | €6,331 | €6,355 | €6,543 |
| Other work by the auditor | - | - | - | €750 |
Source: notes to the 2022 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2023 · 1 entry · €182 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €41.3m | €40.1m | €37.6m | €33.7m | ▼ 10.6% |
| Turnover70 | €33.0m | €33.3m | €37.7m | €41.1m | €39.6m | €37.3m | €33.3m | ▼ 10.8% |
| Other operating income74 | - | - | - | €0.3m | €0.5m | €0.4m | €0.4m | ▲ 10.4% |
| Non-recurring operating income76A | - | - | - | - | €0.001m | €0.001m | €0.001m | ▼ 57.8% |
| Operating charges60/66A | - | - | - | €40.8m | €39.9m | €37.4m | €33.7m | ▼ 9.7% |
| Goods for resale, raw materials and consumables60 | - | - | - | €38.4m | €37.1m | €34.6m | €31.0m | ▼ 10.5% |
| Purchases600/8 | - | - | - | €38.7m | €37.2m | €34.7m | €31.1m | ▼ 10.4% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.3m | -€0.2m | -€0.08m | -€0.1m | ▼ 55.2% |
| Services and other goods61 | - | - | - | €1.7m | €2.2m | €2.0m | €1.9m | ▼ 4.5% |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.6m | €0.7m | €0.8m | ▲ 12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.003m | €0.003m | €0.003m | €0.02m | €0.05m | €0.05m | €0.05m | ▲ 1.4% |
| Other operating charges640/8 | - | - | - | €0.003m | €0.002m | €0.002m | €0.002m | ▼ 15.0% |
| Operating profit (loss)9901 | €0.4m | €0.3m | €0.4m | €0.5m | €0.2m | €0.3m | -€0.06m | - |
| Financial income75/76B | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 14.5% |
| Recurring financial income75 | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 14.5% |
| Income from current assets751 | - | - | - | - | - | €0.001m | €0.004m | ▲ 315% |
| Other financial income752/9 | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 15.2% |
| Financial charges65/66B | - | - | - | €0.006m | €0.005m | €0.003m | €0.002m | ▼ 15.6% |
| Recurring financial charges65 | €0.006m | €0.002m | €0.004m | €0.006m | €0.005m | €0.003m | €0.002m | ▼ 15.6% |
| Debt charges650 | €398 | €427 | €0.002m | €0.005m | €0.004m | €0.001m | €0.001m | ▼ 18.9% |
| Other financial charges652/9 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 12.1% |
| Profit (loss) for the period before taxes9903 | €0.8m | €0.7m | €0.9m | €1.0m | €0.7m | €0.8m | €0.4m | ▼ 52.3% |
| Income taxes67/77 | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 47.8% |
| Taxes670/3 | - | - | - | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 47.8% |
| Profit (loss) for the period9904 | €0.5m | €0.5m | €0.7m | €0.8m | €0.5m | €0.6m | €0.3m | ▼ 53.8% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.5m | €0.7m | €0.8m | €0.5m | €0.6m | €0.3m | ▼ 53.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €7.7m | €8.5m | €9.7m | €10.9m | €10.8m | €10.7m | €11.1m | ▲ 3.4% |
| Fixed assets21/28 | €0.002m | €0.006m | €0.004m | €0.2m | €0.2m | €0.1m | €0.09m | ▼ 32.5% |
| Intangible fixed assets21 | - | - | - | - | €0.004m | €0.003m | €0.002m | ▼ 29.8% |
| Tangible fixed assets22/27 | €0.002m | €0.006m | €0.004m | €0.2m | €0.2m | €0.1m | €0.09m | ▼ 32.6% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.2m | €0.1m | €0.08m | ▼ 37.8% |
| Furniture and vehicles24 | - | - | - | - | €0.006m | €0.004m | €0.01m | ▲ 128% |
| Current assets29/58 | €7.7m | €8.5m | €9.6m | €10.8m | €10.6m | €10.6m | €11.0m | ▲ 3.9% |
| Stocks and contracts in progress3 | - | - | - | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 25.2% |
| Stocks30/36 | - | - | - | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 25.2% |
| Goods purchased for resale34 | - | - | - | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 25.2% |
| Amounts receivable within one year40/41 | €6.0m | €6.6m | €7.7m | €9.9m | €9.3m | €8.6m | €7.7m | ▼ 11.3% |
| Trade receivables40 | - | - | - | €9.9m | €9.3m | €8.6m | €7.5m | ▼ 13.2% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.04m | €0.007m | €0.2m | ▲ 25× |
| Current investments50/53 | - | - | - | - | - | - | €0.9m | - |
| Own shares50 | - | - | - | - | - | - | €0.9m | - |
| Cash at bank and in hand54/58 | €1.7m | €1.9m | €1.9m | €0.6m | €0.8m | €1.4m | €1.7m | ▲ 23.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.01m | €0.03m | €0.02m | ▼ 7.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €7.7m | €8.5m | €9.7m | €10.9m | €10.8m | €10.7m | €11.1m | ▲ 3.4% |
| Equity10/15 | €4.3m | €4.9m | €5.5m | €6.3m | €6.8m | €7.4m | €7.7m | ▲ 3.7% |
| Contributions10/11 | €0.05m | - | - | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Reserves13 | €4.3m | €4.8m | €5.5m | €6.3m | €6.8m | €7.4m | €7.7m | ▲ 3.7% |
| Non-distributable reserves130/1 | - | - | - | €0.005m | €0.005m | - | €0.9m | - |
| Reserves not available under the articles1311 | - | - | - | €0.005m | €0.005m | - | - | - |
| Own shares acquired1312 | - | - | - | - | - | - | €0.9m | - |
| Distributable reserves133 | - | - | - | €6.3m | €6.8m | €7.4m | €6.7m | ▼ 8.9% |
| Amounts payable17/49 | €3.4m | €3.7m | €4.1m | €4.6m | €3.9m | €3.3m | €3.4m | ▲ 2.8% |
| Amounts payable within one year42/48 | €3.4m | €3.7m | €4.1m | €4.6m | €3.9m | €3.2m | €3.4m | ▲ 4.1% |
| Trade debts44 | €3.2m | €3.3m | €3.9m | €4.4m | €3.6m | €3.0m | €3.0m | ▲ 2.3% |
| Suppliers440/4 | - | - | - | €4.4m | €3.6m | €3.0m | €3.0m | ▲ 2.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 24.2% |
| Taxes450/3 | - | - | - | €0.1m | €0.2m | €0.08m | €0.2m | ▲ 108% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 14.2% |
| Other amounts payable47/48 | - | - | - | €412 | €0.001m | €0.001m | €0.001m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.007m | €0.002m | €0.04m | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.5m | €0.5m | €0.7m | €0.8m | €0.5m | €0.6m | €0.3m | ▼ 53.8% |
| + Depreciation and write-downs630 | €0.003m | €0.003m | €0.003m | €0.02m | €0.05m | €0.05m | €0.05m | ▲ 1.4% |
| Operating cash flow (approximation) | €0.5m | €0.5m | €0.7m | €0.8m | €0.6m | €0.6m | €0.3m | ▼ 49.4% |
| Investment in fixed assets (approximation) | - | -€0.007m | €0 | -€0.2m | -€0.05m | €0 | -€0.007m | - |
| Change in cash | - | €0.2m | -€0.003m | -€1.3m | €0.3m | €0.6m | €0.3m | ▼ 41.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as UNICONSTRUCT has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of UNICONSTRUCT itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 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 17,041 companies, not a prediction for UNICONSTRUCT. 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.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 12-01-2026 | 2026-00006447 | |
| 30-06-2024 | full format | 02-01-2025 | 2025-00629642 | |
| 30-06-2023 | full format | 19-12-2023 | 2023-00530422 | |
| 30-06-2022 | full format | 20-12-2022 | 2022-20540868 | |
| 30-06-2021 | full format | 21-12-2021 | 2021-80800390 | |
| 30-06-2020 | full format | 28-12-2020 | 2020-77100124 | |
| 30-06-2019 | full format | 06-01-2020 | 2020-00200031 | |
| 30-06-2018 | full format | 02-01-2019 | 2019-00100059 | |
| 30-06-2017 | full format | 19-12-2017 | 2017-72100190 | |
| 30-06-2016 | full format | 20-12-2016 | 2016-70600499 |