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V-CONSTRUCT

Active Private limited companyfounded 2015active for 11 yearsOostendestraat 35, 8600 DiksmuideKBO/BCE: BE 0628.969.081 subsidiary of HERCAS

Overview

Lifetime

10 annual accounts with figures on one time axis
peak €206,993 (2017)
€1,091▲ €2,194
lowest -€48,548 (2025)
-€48,548▼ €50,676
peak €240,009 (2022)
€188,620▼ 20.5%
€23,259▲ 87×
peak 0 FTE (2025)
0 FTE 
Board3 names since 2021
- 
Owners2 names in the annual accounts
99%HERCAS and 1 other
Documentsfilings and deeds
26-08-202626 days late
2025abbreviated format
Gross margin from -€1,103 to €1,091Loss of €48,548Equity from €237,167 to €188,620Debts from €267 to €23,259Cash from €5,651 to €2,290

Key points

from the 2025 annual accounts

Result

-€48,548 -€48,548
€2,1302024-€48,5002025

From profit to loss in 2025, after a profit of €2,129 in 2024.

Filings

10 annual accounts 3 late
AprilJune31 JulyOctober20202025

The 2024 accounts came latest: 43 days after the end of the period.

Position in the sector

-€48,548

Lower net result than 93% of companies in building services and landscaping. Sector median €24,231 · 1,569 companies.

Checked score

54
Fair
Financially stronger than 41% of micro companies in building services and landscaping (NACE 81)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.0% Moderate
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.9% across 7,709 companies (NACE 81, micro).

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024lowest value 02-2025: 0.1%● unchanged vs 01-2025lowest value 03-2025: 0.1%● unchanged vs 02-2025lowest value 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.2%▲ +0.1 percentage points vs 08-2025 10-2025: 1.0%▲ +0.8 percentage points vs 09-2025 11-2025: 1.0%● unchanged vs 10-2025 12-2025: 1.0%● unchanged vs 11-2025 01-2026: 1.0%● unchanged vs 12-2025 02-2026: 1.0%● unchanged vs 01-2026 03-2026: 1.0%● unchanged vs 02-2026 04-2026: 1.0%● unchanged vs 03-2026 05-2026: 1.0%● unchanged vs 04-2026 06-2026: 1.0%● unchanged vs 05-2026 07-2026: 1.0%● unchanged vs 06-2026 08-2026: 1.3%▲ +0.3 percentage points vs 07-2026 09-2026: 2.0%▲ +0.7 percentage points vs 08-2026highest value 10-2026: 2.0%● unchanged vs 09-2026highest value 11-2026: 2.0%● unchanged vs 10-2026highest value

Financial strength
Average

100=equity 89.0% of total assets
51-2short-term debt 11.0% · cash 1.1%
0-40return on assets -22.9%

Score breakdown

raises risk
Last filed accounts filed 26 days late; 1 of the last 3 accounts late
Loss of €48,548 (financial year 2025)
Sector: Services to buildings and landscape activities (NACE 81)
Liquidity: current ratio 9.11, cash €2,290, halved
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 81, micro). It does better than 92% of them on solvency, 50% on liquidity, 4% on profitability and 18% 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, 4,805 companies had the same profile as V-CONSTRUCT has now. Each dot stands for 13 companies, two years later.

88.1%
were still trading
9.8%
stopped another way
2.0%
went bankrupt
  • Micro
  • 10 to 20 years old
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of V-CONSTRUCT itself: 2.0% 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 4,805 companies, not a prediction for V-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 €10,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 9.11, above the usual 1.5. Short-term debt is 11% and cash 1.1% of total assets. 11% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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.

Signals

Five signals.
raises risk
raises risk · Last filed accounts filed 26 days late; 1 of the last 3 accounts late
NBB · filings
raises risk · Loss of €48,548 (financial year 2025)
NBB · annual accounts
raises risk · Sector: Services to buildings and landscape activities (NACE 81)
KBO
raises risk · Liquidity: current ratio 9.11, cash €2,290, halved
NBB · annual accounts
raises risk · 2025 accounts filed 26 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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 filings
Deviation from the deadline
2025
26 days late
2024
43 days late
2023
34 days early
2022
33 days early
2021
46 days early
2020
25 days early
2019
31 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 5 days before the deadline. In the sector (NACE 81), 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 28 June (4 of the last 5 accounts filed within 59 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

H
Director, Carlos Vinckier
Board & ownership

Recent changes

1 director appointed Hercas NV (director) · Permanent representatives: Carlos Vinckier and Thomas Vinckier · General meeting of 24-08-2026 · Gazette deed
2 directors appointed, 2 resignations Resignations: Vinckier Invest and Vinckier-Steverlynck · Appointments: Vinckier Invest (director) and Vinckier-Steverlynck (director) · Capital conversion: €22,000 · General meeting of 05-10-2023 · Gazette deed
Incorporation published on 12-05-2015 · Gazette deed
First establishment Oostendestraat 35, Diksmuide
All 23 events

Comparable companies

same main activity, similar in size and age
Company
V-CONSTRUCT Diksmuide €211,879 €1,091 89.0% 0
Vicinity Partners Watermael-Boitsfort €429,083 -€28,072 79.7% 0.8
FACESS Tervuren €207,823 -€1,525 99.0% -
SEAGATE OSTENDE Antwerp €573,721 -€230,112 95.5% 0
Ets Geurts Beyne-Heusay €76,947 -€16,282 64.5% -
M&Y FACILITY Antwerp €199,740 -€8,653 59.7% -
L&B Consultancy Beerse €192,599 €2,448 75.7% -

These companies have the same main activity as V-CONSTRUCT: combined facilities support activities (NACE 81100). They are comparable in size and age: total assets between €76,900 and €574,000, founded between 2005 and 2019.

Official details

Source: KBO
Status
Active since 29-04-2015Normal situation
Activity
Combined facilities support activitiesNACE 81100and 1 other
Establishment unit
2.241.669.2088600 Diksmuide, since 29-04-2015
Financial year end
31 December
Peppol
Reachable
Company details

Annual accounts 2025

€1,091
≈ €11,000estimated
€48,548
€188,620▼ 20.5%
€211,879▼ 10.8%
Filing
Filed on 26-08-2026
Financials

Insights on V-CONSTRUCT

V-CONSTRUCT files the abbreviated format. That format states no turnover. The gross margin fell from €3,275 in 2016 to €1,091 in 2025.

HERCAS holds 99% of the shares.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 26-08-2026, 26 days late
€1,091
▲ €2,194
-€46,588
▼ €44,746
-€48,548
▼ €50,676
€188,620
▼ 20.5%
89.0%
▼ 10.9 percentage points
9.11

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 ≈ €11,000. Estimated: probably between €5,700 and €21,000.

Balance sheet

balance sheet total €211,879 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

89.0%

Higher than 93% of 1,569 companies in 2025.

9.11

Higher than 93% of 1,540 companies in 2025.

-22.9%

Lower than 95% of 1,554 companies in 2025.

V-CONSTRUCT Middle half of the sector 80% of the sector Abbreviated accounts in building services and landscaping (NACE 81)

Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019201820172016
Balance sheet: assets
20/58 211,879237,434235,294353,824311,489186,490187,737425,552887,361408,481
29/58 211,879237,434235,294353,824311,489186,490187,737425,552887,361408,481
3 -----6,350--752,921272,321
30/36 -----6,350--752,921272,321
40/41 209,589231,78377,837236,149266,053153,090176,466273,22562,030128,263
40 5,542--185,00035,000--18062,030128,263
41 204,047231,78377,83751,149231,053153,090176,466273,045--
54/58 2,2905,651157,457117,67545,43727,05111,272152,32772,4106,416
490/1 ---------1,481
Balance sheet: equity and liabilities
10/49 211,879237,434235,294353,824311,489186,490187,737425,552887,361408,481
10/15 188,620237,167235,039240,009226,224185,602186,849189,620135,69515,568
10/11 20,00020,00020,00020,00020,00020,00020,00020,00020,00020,000
100 ------20,00020,00020,00020,000
13 168,620217,167215,039220,009206,224165,602166,849169,620115,695-
130/1 ---2,0002,0002,000----
130 ------2,0002,0002,000-
1311 ---2,0002,0002,000----
133 168,620217,167215,039218,009204,224163,602164,849167,620113,695-
14 ----------4,432
17/49 23,259267255113,81585,265888888235,932751,665392,913
42/48 23,259267255113,81585,265888888235,932751,665392,913
43 --------200,00075,968
430/8 --------200,00075,968
44 1462672558,0307,11988888828,970226,077149,183
440/4 1462672558,0307,11988888828,970226,077149,183
45 23,114--5,785146--185,11170,63910,868
450/3 23,114--5,785146--185,11170,63910,868
47/48 ---100,00078,000--21,851254,949156,894
Income statement
9900 1,091-1,103-4,163-31,512-31,574-3,232-3,94485,170206,9933,275
640/8 47,6807407241,0047425291,2276186721,472
9901 -46,588-1,842-4,888-32,516-32,315-3,761-5,17184,552206,3211,803
75/76B 2,9264,0101,450151,898163,1282,5561,01770062221
75 2,9264,0101,450151,898163,1282,5561,01770062221
65/66B 4,886401,533454542455,77624,5206,456
65 4,886401,533454542455,77624,5206,456
9903 -48,5482,129-4,970119,337130,768-1,247-4,19979,475181,864-4,432
67/77 ---5,55212,146--1,42825,55061,736-
9904 -48,5482,129-4,970113,785118,622-1,247-2,77153,925120,127-4,432
9905 -48,5482,129-4,970113,785118,622-1,247-2,77153,925120,127-4,432
Appropriation of the result
9906 -48,5482,129-4,970113,785118,622-1,247-2,77153,925115,695-4,432
791/2 48,548-4,970--1,2472,771---
691/2 02,129-13,78540,622--53,925115,695-
6920 --------2,000-
6921 02,129-13,78540,622--53,925113,695-
694/7 ---100,00078,000-----
695 ---100,00078,000-----
Social balance sheet
9087 0---------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 9 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 26-08-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 26 days after the deadline. Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00428218.

Financial year Type Filed Reference Document
31-12-2025 abbreviated format 26-08-2026 2026-00428218 PDF
31-12-2024 abbreviated format 12-09-2025 2025-00489866 PDF
31-12-2023 abbreviated format 27-06-2024 2024-00168504 PDF
31-12-2022 abbreviated format 28-06-2023 2023-00166133 PDF
31-12-2021 abbreviated format 15-06-2022 2022-20064007 PDF
31-12-2020 abbreviated format 06-07-2021 2021-31900105 PDF
31-12-2019 abbreviated format 31-08-2020 2020-47700587 PDF
31-12-2018 abbreviated format 08-03-2019 2019-06600193 PDF
31-12-2017 abbreviated format 11-04-2018 2018-09700247 PDF
31-12-2016 abbreviated format 30-06-2017 2017-26700542 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019201820172016
0---------
-3,361-151,80539,78172,23918,38615,779-141,05679,91765,994-
188,620237,167235,039240,009226,224185,602186,849189,620135,69515,568
89.0%99.9%99.9%67.8%72.6%99.5%99.5%44.6%15.3%3.8%
9.11--3.113.65--1.801.181.04
9.11--3.113.65--1.800.180.35
0.120.000.000.470.380.000.001.245.5425.24
-25.7%0.9%-2.1%47.4%52.4%-0.7%-1.5%28.4%88.5%-28.5%
-22.9%0.9%-2.1%32.2%38.1%-0.7%-1.5%12.7%13.5%-1.1%

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.

Investments

fixed assets acquired
Item20252024202320222021
Financial fixed assets€0----

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on V-CONSTRUCT

The operating result for 2025 is a loss of €46,588, larger than the loss of €1,842 in 2024. It is the lowest result since 2016.

Debt's share of the balance-sheet total rises from 0.1% to 11.0%. Equity is lower and debt is higher.

Board & ownership

Board

1 director, last change in September 2026
Director (not named in the articles), permanent representative Carlos Vinckier
appointed by deed of 22-09-2026
also on the board of 2 other companies
Permanent representatives 1
Carlos Vinckier
Permanent representative, for HERCAS
appointed by deed of 22-09-2026

Office holders in the KBO →

Mandates through the years

3 names, the dashed line is today
HERCAS
Director (not named in the articles)
Vinckier Invest
Director (not named in the articles)
Vinckier-Steverlynck
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
  • HERCAS
    • Director (not named in the articles), appointed by deed of 22-09-2026, still in office
  • Vinckier Invest
    • Director (not named in the articles), from before 31-12-2021 to 23-10-2023
  • Vinckier-Steverlynck
    • Director (not named in the articles), from before 31-12-2021 to 23-10-2023

See the board, name and registered office on a given date →

Control

Parent
Equity €8.2m
Profit €3.2m in 2026 (profit €304,352 in 2025)
Checked score 96
99%
This company
V-CONSTRUCT
Equity €188,620
Loss €48,548 in 2025

and 1 other shareholder

Capital

Contribution
€20,000
Source
2025 annual accounts

Owners through the years

as the annual accounts name them
Owners as a list

Source: lists of holdings in the owners' accounts

Shareholders

2 owners

Owners 2

Network & group

Group

HERCAS has 4 holdings (accounts to 31-03-2026), the bar shows equity in euros
ParentHERCAS4 holdings, 1 country accounts to 31-03-2026

Belgium 4 Equity Result

Source: list of holdings in the 31-03-2026 accounts of HERCAS. Every holding stands with its own latest accounts.

At the same address

Oostendestraat 35, 8600 Diksmuide · 4 other companies
Vinckier Bouwservice
registered office since 15-12-2009 · founded in 2009
47 FTE (2025)
0821.459.148
HERCAS
registered office since 21-06-1993 · founded in 1982
total assets €10.1m (2026)
0423.777.360
IMMO VINCKIER B.
registered office since 01-01-1984 · founded in 1983
total assets €3.3m (2025)
0425.232.261
GROEP VINCKIER
registered office since 01-05-2023
founded in 2023
0800.721.934

Connections & network

1 connected company
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
IMMO VINCKIER B.
via HERCAS · Director · deed of 22-09-2026
Founded in 1983 · total assets €3.3m (2025)
→

Timeline

Timeline

23 events since 2015

Deadline for the 2026 accounts: 31-07-2027

2026
1 director appointedHercas NV (director) · Permanent representatives: Carlos Vinckier and Thomas Vinckier · General meeting of 24-08-20264 points ▸
  • General meeting, 24-08-2026
  • Director appointment, Hercas NV (director (not named in the articles))
  • Permanent representative, Carlos Vinckier
  • Permanent representative, Thomas Vinckier

Open the deed in the Belgian Official Gazette

Annual accounts 2025 filed NBBabbreviated format · 26 days late
2025
Weakest financial year net -€48,548 The net result drops to -€48,548, the lowest from 2016 to 2025.
Annual accounts 2024 filed PDFabbreviated format · 43 days late
2024
Back to profit net €2,129 The net result is €2,129, after one loss-making year.
Annual accounts 2023 filed PDFabbreviated format · 34 days before the deadline
2023
Liquidity more than 296 times current ratio 922.72 The current ratio rises from 3.11 to 922.72. Short-term debt falls from €113,815 to €255.
2 directors appointed, 2 resignationsResignations: Vinckier Invest and Vinckier-Steverlynck · Appointments: Vinckier Invest (director) and Vinckier-Steverlynck (director) · Capital conversion: €22,000 · General meeting of 05-10-20239 points ▸
  • General meeting, 05-10-2023
  • Capital conversion, €22,000
  • Director resignation, Vinckier Invest
  • Director resignation, Vinckier-Steverlynck
  • Director appointment, Vinckier Invest (director (not named in the articles))
  • Director appointment, Vinckier-Steverlynck (director (not named in the articles))
  • Director discharge, Vinckier Invest
  • Director discharge, Vinckier-Steverlynck
  • Power of attorney, Hendrik Debucquoy
  • The deed holds 3 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFabbreviated format · 33 days before the deadline
2022
Annual accounts 2021 filed PDFabbreviated format · 46 days before the deadline
2021
Back to profit net €118,622 The net result is €118,622, after 2 loss-making years.
Equity above €200,000 equity €226,224 ▲21.9% Equity rises from €185,602 to €226,224.
Annual accounts 2020 filed PDFabbreviated format · 25 days before the deadline
2020
Annual accounts 2019 filed PDFabbreviated format · 31 days late
2019
Liquidity more than 117 times current ratio 211.36 The current ratio rises from 1.80 to 211.36. Short-term debt falls from €235,932 to €888.
Annual accounts 2018 filed PDFabbreviated format · 145 days before the deadline
2018
Equity above €150,000 equity €189,620 ▲39.7% After 2 profitable years in a row, equity reaches €189,620.
Annual accounts 2017 filed PDFabbreviated format · 111 days before the deadline
2017
Back to profit net €120,127 The net result is €120,127, after one loss-making year.
Equity above €100,000 equity €135,695 ▲772% Equity rises from €15,568 to €135,695.
Annual accounts 2016 filed PDFabbreviated format · 31 days before the deadline
2015
Incorporation PDFpublished on 12-05-2015
First establishment Oostendestraat 35, Diksmuide

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

V-CONSTRUCT was incorporated on 29 April 2015.1 Total assets fell from €425,552 in 2018 to €211,879 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0628.969.081
VAT number
BE 0628.969.081
Peppol ID
0208:0628969081
Other Peppol ID
9925:BE0628969081
Legal form
Private limited company
Status
Active, normal situation
Founded
29-04-2015
Financial year
ends on 31 December
Peppol
Reachable via PeppolFollow this company and you will hear the next morning if it leaves the Peppol register.
Name
V-CONSTRUCT in Dutch
Entity type
Legal entity

Activities

NACEBEL 2025
Codes under NACEBEL 2008
81100 Combined facilities support activities main activity
64200 Holdings

Registered office and establishments

1 establishment
Establishment Since Unit number
Oostendestraat 35 registered office 8600 Diksmuide 29-04-2015 2.241.669.208

Buildings and parcels at the address

Ground area
6,105 m²
Buildings
2,965 m²
Volume, LiDAR
17,326 m³
Tallest building
15.5 m
Buildings to scale, each on its own parcel
2,965 m², 15.5 m 2,965 m², 15.5 m

Location

registered office establishment The establishment unit on the map
5 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
32001A0713/00P0026,105 m² 1 · 2,965 m² 15.5 m · 2