VALAH CONCEPT
ActiveSummary
VALAH CONCEPT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €71,091 and a net result of -€2,709. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 76% of 9974 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability22▼-51
Solvency92▼-8
Growth52=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days only on tighter terms
Liquidity ample (current ratio 2.93 against 3.89 in 2023; short-term debt: 33% and cash: 3.6% of total assets), and 33.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
66.8%
Return on assets
-2.5%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-11-2025, 100 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
100 d late
2023
101 d late
2022
86 d late
2021
196 d late
2020
91 d late
2019
80 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 109 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€71,091▼ 3.7%
2023 · €73,800
Total assets
€106,357▲ 9.3%
2023 · €97,310
Net result
-€2,709
2023 · €3,472
Working capital
€67,821▲ 1.0%
2023 · €67,171
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line20202021202220232024
Operating result-€1,490€21,592€18,779▼ 13.0%€5,589▼ 70.2%-€1,166
Net result€805within the sector's middle half▼ 93.8%€18,100within the sector's middle half▲ 2,148%€13,455within the sector's middle half▼ 25.7%€3,472within the sector's middle half▼ 74.2%-€2,709below the sector's middle half
Equity€38,773within the sector's middle half▲ 2.1%€56,873within the sector's middle half▲ 46.7%€70,328within the sector's middle half▲ 23.7%€73,800within the sector's middle half▲ 4.9%€71,091within the sector's middle half▼ 3.7%
Total assets€58,141below the sector's middle half▲ 13.0%€82,991within the sector's middle half▲ 42.7%€155,024within the sector's middle half▲ 86.8%€97,310within the sector's middle half▼ 37.2%€106,357within the sector's middle half▲ 9.3%
Debt€19,368▲ 43.5%€26,118▲ 34.9%€84,696▲ 224%€23,510▼ 72.2%€35,266▲ 50.0%
Working capital€36,963▲ 4.6%€53,616▲ 45.1%€67,490▲ 25.9%€67,171▼ 0.5%€67,821▲ 1.0%
Solvency66.7%above the sector's middle half▼ 7.1pp68.5%above the sector's middle half▲ 1.8pp45.4%within the sector's middle half▼ 23.2pp75.8%above the sector's middle half▲ 30.5pp66.8%above the sector's middle half▼ 9.0pp
Staff (FTE)11=1=1=
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €1,166 after €5,589 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €106,357
Fixed assets
€3,475 ▼ 49.8%
Current assets
€102,882 ▲ 13.8%
Equity and liabilities €106,357
Equity
€71,091 ▼ 3.7%
Debt
€35,266 ▲ 50.0%
Debt's share of the balance-sheet total rises from 24.2% to 33.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2,288▼
2023 · €7,198
Cash flow
€744▼
2023 · €5,081
Current ratio
2.93▼
2023 · 3.89
Debt to equity
0.50▲
2023 · 0.32
ROE
-3.8%▼
2023 · 4.7%
ROA
-2.5%▼
2023 · 3.6%
Interest coverage
0.76▼
2023 · 6.29
Debt ≤ 1 year
€35,061▲
2023 · €23,210
Income taxes
€1,295▼
2023 · €3,494
Staff costs
€20,833▼
2023 · €23,967
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,440 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a small loss
2.1%
went bankrupt
7.4%
stopped otherwise
90%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,058 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% | 1.6% |
| 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 74% 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 3,440 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €20,566 | €19,258 | €23,967 | €20,833 | ▼ 13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,882 | €1,541 | €1,614 | €1,609 | €3,453 | ▲ 115% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €18,188 | - | - | - |
| Other operating charges640/8 | - | €2,180 | €620 | €1,548 | €3,649 | ▲ 136% |
| Gross operating margin9900 | €8,223 | €45,879 | €58,459 | €32,713 | €26,770 | ▼ 18.2% |
| Operating profit (loss)9901 | -€1,490 | €21,592 | €18,779 | €5,589 | -€1,166 | ▼ 121% |
| Financial income75/76B | - | €2,012 | €988 | €2,522 | €2,743 | ▲ 8.8% |
| Recurring financial income75 | €144 | €2,012 | €988 | €2,522 | €2,743 | ▲ 8.8% |
| Financial charges65/66B | - | €379 | €927 | €1,145 | €2,992 | ▲ 161% |
| Recurring financial charges65 | €564 | €379 | €927 | €1,145 | €2,992 | ▲ 161% |
| Profit (loss) for the period before taxes9903 | -€1,910 | €23,225 | €18,840 | €6,966 | -€1,414 | ▼ 120% |
| Income taxes67/77 | -€2,715 | €5,125 | €5,385 | €3,494 | €1,295 | ▼ 62.9% |
| Profit (loss) for the period9904 | €805 | €18,100 | €13,455 | €3,472 | -€2,709 | ▼ 178% |
| Profit (loss) for the period to be appropriated9905 | €805 | €18,100 | €13,455 | €3,472 | -€2,709 | ▼ 178% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58,141 | €82,991 | €155,024 | €97,310 | €106,357 | ▲ 9.3% |
| Fixed assets21/28 | €1,810 | €4,452 | €2,838 | €6,929 | €3,475 | ▼ 49.8% |
| Tangible fixed assets22/27 | €1,810 | €4,452 | €2,838 | €6,929 | €3,475 | ▼ 49.8% |
| Plant, machinery and equipment23 | - | €620 | €59 | - | - | - |
| Furniture and vehicles24 | - | €3,832 | €2,779 | €6,929 | €3,475 | ▼ 49.8% |
| Current assets29/58 | €56,331 | €78,539 | €152,186 | €90,381 | €102,882 | ▲ 13.8% |
| Amounts receivable within one year40/41 | €49,133 | €71,031 | €97,816 | €88,863 | €97,663 | ▲ 9.9% |
| Trade receivables40 | - | €58,826 | €84,748 | €84,500 | €97,663 | ▲ 15.6% |
| Other amounts receivable41 | - | €12,205 | €13,068 | €4,363 | - | - |
| Cash at bank and in hand54/58 | €6,109 | €6,760 | €53,280 | €117 | €3,785 | ▲ 3,135% |
| Deferred charges and accrued income490/1 | - | €748 | €1,090 | €1,401 | €1,434 | ▲ 2.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58,141 | €82,991 | €155,024 | €97,310 | €106,357 | ▲ 9.3% |
| Equity10/15 | €38,773 | €56,873 | €70,328 | €73,800 | €71,091 | ▼ 3.7% |
| Contributions10/11 | - | €18,700 | €18,700 | €18,700 | €18,700 | = |
| Reserves13 | €1,870 | €1,870 | €11,870 | €14,870 | €14,870 | = |
| Non-distributable reserves130/1 | - | €1,870 | €1,870 | €1,870 | €1,870 | = |
| Reserves not available under the articles1311 | - | €1,870 | €1,870 | €1,870 | €1,870 | = |
| Distributable reserves133 | - | - | €10,000 | €13,000 | €13,000 | = |
| Profit (loss) carried forward14 | €18,203 | €36,303 | €39,758 | €40,230 | €37,521 | ▼ 6.7% |
| Amounts payable17/49 | €19,368 | €26,118 | €84,696 | €23,510 | €35,266 | ▲ 50.0% |
| Amounts payable after more than one year17 | - | €1,195 | - | - | - | - |
| Financial debts170/4 | - | €1,195 | - | - | - | - |
| Amounts payable within one year42/48 | €19,368 | €24,923 | €84,696 | €23,210 | €35,061 | ▲ 51.1% |
| Financial debts43 | - | €1,274 | €1,195 | - | - | - |
| Credit institutions430/8 | - | €1,274 | €1,195 | - | - | - |
| Trade debts44 | €11,988 | €15,250 | €29,400 | €8,295 | €6,521 | ▼ 21.4% |
| Suppliers440/4 | - | €15,250 | €29,400 | €8,295 | €6,521 | ▼ 21.4% |
| Advances received on contracts in progress46 | - | - | €35,937 | - | - | - |
| Taxes, remuneration and social security45 | - | €8,399 | €18,164 | €14,915 | €27,379 | ▲ 83.6% |
| Taxes450/3 | - | €5,376 | €12,639 | €9,373 | €14,016 | ▲ 49.5% |
| Remuneration and social security454/9 | - | €3,023 | €5,525 | €5,542 | €13,364 | ▲ 141% |
| Other amounts payable47/48 | - | - | - | - | €1,161 | - |
| Accrued charges and deferred income492/3 | - | - | - | €300 | €205 | ▼ 31.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €805 | €18,100 | €13,455 | €3,472 | -€2,709 | ▼ 178% |
| + Depreciation and write-downs630 | €1,882 | €1,541 | €1,614 | €1,609 | €3,453 | ▲ 115% |
| Operating cash flow (approximation) | €2,687 | €19,641 | €15,069 | €5,081 | €744 | ▼ 85.4% |
| Investment in fixed assets (approximation) | - | -€4,183 | €0 | -€5,700 | €0 | ▲ 100% |
| Change in cash | - | €651 | €46,520 | -€53,163 | €3,668 | ▲ 107% |
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
2025
08-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 100 days late
2024
31-12
Financial
Weakest financial yearnet -€2,709
Net result drops to -€2,709, the lowest in the series.
09-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 101 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 3.89
Current ratio from 1.80 to 3.89; short-term debt falls from €84,696 to €23,210.
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 86 days late
12-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 196 days late
2021
31-12
Financial
Highest result since 2019net €18,100 ▲2,148%
Operating result €21,592, net result €18,100, both a record.
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 80 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Bernissart · 1 establishment unit since 2017
Ground area
1,603 m²
Building footprint
177 m²
Volume, LiDAR
730 m³
Parcel 51009B0658/00A002, Wallonia · tallest building 5.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
VALAH CONCEPT
since 20172.266.332.150
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51009B0658/00A002 | Wallonia | 1,603 m² | 1 · 177 m² | 5.6 m · 1 fl. |
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.
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Of 2,456 companies in sector 41003 we hold annual accounts for 1,055. 732 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 (pre-2019)
Founded13-06-2017
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41003General construction of other non-residential buildings
43990Other specialised construction activities
49410Freight transport by road
81220Other building cleaning and industrial cleaning
E-invoicing
Reachable via Peppol
Peppol ID
0208:0676777611
Also
9925:BE0676777611
Registered
01-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.