V&S CONSTRUCT
ActiveSummary
V&S CONSTRUCT has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €577,454 and a net result of €79,399. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 62% of 7930 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+5
Solvency80▲+21
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 2.3 against 1.47 in 2024; short-term debt: 38.3% and cash: 8.1% of total assets), and 45.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
54.7%
Return on assets
7.5%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
2 d early
2023
4 d early
2022
6 d early
2021
2 d late
2020
24 d early
2019
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#9 employer in Peer, Construction sector
Equity
€577,454▼ 5.6%
2024 · €611,545
Total assets
€1.1m▼ 41.6%
2024 · €1.8m
Net result
€79,399▲ 37.0%
2024 · €57,939
Working capital
€523,878▼ 3.1%
2024 · €540,827
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€155,477▲ 21.9%€112,950▼ 27.4%€81,804▼ 27.6%€86,231▲ 5.4%€128,856▲ 49.4%
Net result€103,489within the sector's middle half▲ 17.6%€76,914within the sector's middle half▼ 25.7%€56,377within the sector's middle half▼ 26.7%€57,939within the sector's middle half▲ 2.8%€79,399within the sector's middle half▲ 37.0%
Equity€420,314within the sector's middle half▲ 32.7%€497,228within the sector's middle half▲ 18.3%€553,606within the sector's middle half▲ 11.3%€611,545within the sector's middle half▲ 10.5%€577,454within the sector's middle half▼ 5.6%
Total assets€997,561within the sector's middle half▲ 7.0%€1.1mwithin the sector's middle half▲ 10.9%€1.1mwithin the sector's middle half▼ 4.2%€1.8mabove the sector's middle half▲ 70.7%€1.1mwithin the sector's middle half▼ 41.6%
Debt€577,246▼ 6.2%€608,575▲ 5.4%€506,112▼ 16.8%€1.2m▲ 137%€479,153▼ 60.0%
Working capital€309,735within the sector's middle half▲ 85.8%€426,182within the sector's middle half▲ 37.6%€500,488above the sector's middle half▲ 17.4%€540,827above the sector's middle half▲ 8.1%€523,878above the sector's middle half▼ 3.1%
Solvency42.1%within the sector's middle half▲ 8.2pp45.0%within the sector's middle half▲ 2.8pp52.2%within the sector's middle half▲ 7.3pp33.8%within the sector's middle half▼ 18.4pp54.7%within the sector's middle half▲ 20.8pp
Current ratio1.55within the sector's middle half▲ 0.281.71within the sector's middle half▲ 0.162.00within the sector's middle half▲ 0.291.47within the sector's middle half▼ 0.532.30within the sector's middle half▲ 0.83
Return on assets (ROA)10.4%within the sector's middle half▲ 0.9pp7.0%within the sector's middle half▼ 3.4pp5.3%within the sector's middle half▼ 1.6pp3.2%within the sector's middle half▼ 2.1pp7.5%within the sector's middle half▲ 4.3pp
Staff (FTE)6.7within the sector's middle half▲ 4.7%6.7within the sector's middle half=8.1within the sector's middle half▲ 20.9%8.9within the sector's middle half▲ 9.9%9.7above the sector's middle half▲ 9.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 49% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€128,254 ▲ 21.6%
Current assets
€928,354 ▼ 45.5%
Equity and liabilities €1.1m
Equity
€577,454 ▼ 5.6%
Debt
€479,153 ▼ 60.0%
Debt's share of the balance-sheet total falls from 66.2% to 45.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€167,401▲
2024 · €137,750
Cash flow
€117,944▲
2024 · €109,458
Quick ratio
1.45▲
2024 · 0.93
Debt to equity
0.83▼
2024 · 1.96
ROE
13.7%▲
2024 · 9.5%
Interest coverage
8.76▼
2024 · 24.09
Debt ≤ 1 year
€404,476▼
2024 · €1.2m
Debt > 1 year
€74,677▲
2024 · €34,752
Income taxes
€30,520▲
2024 · €23,281
Staff costs
€556,281▲
2024 · €536,398
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €311,507 | €395,895 | €495,645 | €536,398 | €556,281 | ▲ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,961 | €39,188 | €38,367 | €51,520 | €38,546 | ▼ 25.2% |
| Other operating charges640/8 | €3,303 | €2,005 | €2,457 | €3,074 | €3,533 | ▲ 14.9% |
| Gross operating margin9900 | €516,248 | €550,039 | €618,272 | €677,223 | €727,215 | ▲ 7.4% |
| Operating profit (loss)9901 | €155,477 | €112,950 | €81,804 | €86,231 | €128,856 | ▲ 49.4% |
| Financial income75/76B | €1,055 | €1,220 | €3,173 | €707 | €182 | ▼ 74.3% |
| Recurring financial income75 | €1,055 | €1,220 | €3,173 | €707 | €182 | ▼ 74.3% |
| Financial charges65/66B | €10,325 | €5,985 | €5,929 | €5,718 | €19,118 | ▲ 234% |
| Recurring financial charges65 | €10,325 | €5,985 | €5,929 | €5,718 | €19,118 | ▲ 234% |
| Profit (loss) for the period before taxes9903 | €146,207 | €108,184 | €79,048 | €81,219 | €109,919 | ▲ 35.3% |
| Income taxes67/77 | €42,719 | €31,270 | €22,670 | €23,281 | €30,520 | ▲ 31.1% |
| Profit (loss) for the period9904 | €103,489 | €76,914 | €56,377 | €57,939 | €79,399 | ▲ 37.0% |
| Profit (loss) for the period to be appropriated9905 | €103,489 | €76,914 | €56,377 | €57,939 | €79,399 | ▲ 37.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €997,561 | €1.1m | €1.1m | €1.8m | €1.1m | ▼ 41.6% |
| Fixed assets21/28 | €124,984 | €79,258 | €57,581 | €105,470 | €128,254 | ▲ 21.6% |
| Tangible fixed assets22/27 | €118,159 | €78,971 | €57,294 | €105,183 | €127,967 | ▲ 21.7% |
| Land and buildings22 | €5,588 | €4,191 | €10,977 | €35,564 | €37,450 | ▲ 5.3% |
| Plant, machinery and equipment23 | €5,216 | €2,695 | €8,716 | €17,906 | €13,184 | ▼ 26.4% |
| Furniture and vehicles24 | €2,647 | €990 | €118 | €47,843 | €77,332 | ▲ 61.6% |
| Leasing and similar rights25 | €104,707 | €71,095 | €37,482 | €3,869 | €0 | ▼ 100% |
| Financial fixed assets28 | €6,825 | €287 | €287 | €287 | €287 | = |
| Current assets29/58 | €872,576 | €1.0m | €1.0m | €1.7m | €928,354 | ▼ 45.5% |
| Stocks and contracts in progress3 | €77,452 | €117,702 | €77,450 | €623,582 | €342,660 | ▼ 45.0% |
| Stocks30/36 | €77,452 | €82,702 | €77,450 | €598,582 | €342,660 | ▼ 42.8% |
| Contracts in progress37 | - | €35,000 | €0 | €25,000 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €534,453 | €778,642 | €837,965 | €1.0m | €494,193 | ▼ 51.2% |
| Trade receivables40 | €203,342 | €440,748 | €500,435 | €819,532 | €310,038 | ▼ 62.2% |
| Other amounts receivable41 | €331,111 | €337,895 | €337,531 | €192,353 | €184,155 | ▼ 4.3% |
| Cash at bank and in hand54/58 | €253,471 | €120,147 | €81,545 | €61,407 | €86,051 | ▲ 40.1% |
| Deferred charges and accrued income490/1 | €7,200 | €10,055 | €5,177 | €6,656 | €5,450 | ▼ 18.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €997,561 | €1.1m | €1.1m | €1.8m | €1.1m | ▼ 41.6% |
| Equity10/15 | €420,314 | €497,228 | €553,606 | €611,545 | €577,454 | ▼ 5.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €401,714 | €478,628 | €535,006 | €592,945 | €558,854 | ▼ 5.7% |
| Non-distributable reserves130/1 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | €12,100 | €12,100 | €12,100 | = |
| Distributable reserves133 | €399,854 | €478,628 | €522,906 | €580,845 | €546,754 | ▼ 5.9% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €577,246 | €608,575 | €506,112 | €1.2m | €479,153 | ▼ 60.0% |
| Amounts payable after more than one year17 | €11,930 | €8,212 | €4,448 | €34,752 | €74,677 | ▲ 115% |
| Financial debts170/4 | €11,930 | €8,212 | €4,448 | €34,752 | €74,677 | ▲ 115% |
| Amounts payable within one year42/48 | €562,841 | €600,364 | €501,649 | €1.2m | €404,476 | ▼ 65.2% |
| Current portion of amounts payable after more than one year42 | €3,674 | €3,718 | €3,763 | €21,652 | €30,427 | ▲ 40.5% |
| Financial debts43 | €14,700 | €9,515 | €17,543 | €0 | - | - |
| Credit institutions430/8 | €14,700 | €9,515 | €17,543 | €0 | - | - |
| Trade debts44 | €296,581 | €542,909 | €439,037 | €1.1m | €257,568 | ▼ 76.3% |
| Suppliers440/4 | €296,581 | €542,909 | €439,037 | €1.1m | €257,568 | ▼ 76.3% |
| Taxes, remuneration and social security45 | €245,552 | €43,222 | €41,305 | €54,833 | €61,860 | ▲ 12.8% |
| Taxes450/3 | €12,914 | €3,750 | €2,162 | €10,739 | €21,410 | ▲ 99.4% |
| Remuneration and social security454/9 | €232,638 | €39,472 | €39,143 | €44,094 | €40,449 | ▼ 8.3% |
| Other amounts payable47/48 | €2,335 | €1,000 | €0 | - | €54,622 | - |
| Accrued charges and deferred income492/3 | €2,475 | - | €15 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €103,489 | €76,914 | €56,377 | €57,939 | €79,399 | ▲ 37.0% |
| + Depreciation and write-downs630 | €45,961 | €39,188 | €38,367 | €51,520 | €38,546 | ▼ 25.2% |
| Operating cash flow (approximation) | €149,450 | €116,102 | €94,744 | €109,458 | €117,944 | ▲ 7.8% |
| Investment in fixed assets (approximation) | - | €6,538 | -€16,690 | -€99,408 | -€61,330 | ▲ 38.3% |
| Change in cash | - | -€133,324 | -€38,601 | -€20,138 | €24,644 | ▲ 222% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €500,000Eq €553,606 ▲11.3%
6 profitable years in a row build equity to €553,606.
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 2 days late
2021
30-09
Financial
Highest result since 2018net €103,489 ▲17.6%
Operating result €155,477, net result €103,489, both a record.
06-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Equity above €200,000Eq €228,802 ▲39%
2 profitable years in a row build equity to €228,802.
03-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Peer · 1 establishment unit since 2012
Ground area
5,286 m²
Building footprint
328 m²
Parcel 72030A0896/00S003, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
V & S Construct
since 20122.208.980.010
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72030A0896/00S003 | Flanders | 5,286 m² | 1 · 328 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 26,885 EUR awarded · 26,885 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,717 EUR | 2,717 EUR |
| 2024 | 2 | 7,497 EUR | 7,497 EUR |
| 2023 | 2 | 7,742 EUR | 7,742 EUR |
| 2022 | 1 | 8,929 EUR | 8,929 EUR |
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 5,662 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-02-2006
Fiscal year end30-09
Activities, NACEBEL 2025
43320Joinery installation
16230Manufacture of other builders' carpentry and joinery
E-invoicing
Reachable via Peppol
Peppol ID
0208:0879079623
Also
9925:BE0879079623
Registered
17-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.