Checked.be
Active
BE 0737.876.228Private limited company
VANHAUWOOD CONSTRUCT
Aalterbaan 205 ·9990 Maldegem, Belgium· 6 yrs active
Sector: Roofing work
(43410)
Conclusion
The computed 12-month bankruptcy probability of VANHAUWOOD CONSTRUCT is 1.7% (moderate). The 2025 annual accounts show equity of €308k and a net result of €239k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 27% of 7448 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €308k |
| Net result | €239k |
| Staff (FTE) | 7.3 |
| Better than sector | 27% |
Financial profile
82
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
100
Solvency
47
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2019, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€25k
estimate, not credit advice
Score history
78
2021
94
2022
22
2023
71
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.44 (≥ 1.0)
+5
Quick ratio
Quick ratio 1.12 (≥ 1.0)
+5
Profitability
ROE 78% (≥ 10%)
+10
Interest coverage
Interest coverage 9.8× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 24-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~70% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 25.1% | 44.0% | |
| Net result | €239k | €30k | |
| Equity | €308k | €276k | |
| Gross operating margin | €723k | €275k | |
| Staff costs | €402k | €244k |
€317k
+201.0%
21-25
€239k
+566.1%
21-25
€292k
+234.7%
21-25
€1.23M
+26.4%
21-25
€308k
+348.8%
21-25
€327k
+225.8%
21-25
7
+1.4%
21-25
€402k
+10.3%
21-25
€176
+172.9%
21-25
€918k
+1.9%
21-25
€741k
+3.1%
21-25
€177k
-2.7%
21-25
1.44
+26.5%
21-25
1.12
+37.2%
21-25
25.1%
+254.9%
21-25
2.98
-77.3%
21-25
77.7%
+48.4%
21-25
19.5%
+426.8%
21-25
9.82
+76.5%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €317k | €105k | €-302k | €354k | €221k |
| Net profit | €239k | €36k | €-365k | €230k | €141k |
| Cash flow | €292k | €87k | €-312k | €277k | €176k |
| Staff costs | €402k | €364k | €386k | €355k | €186k |
| Income taxes | €176 | €65 | €257 | €80k | €44k |
| Dividends | - | - | - | - | - |
| Total assets | €1.23M | €970k | €678k | €1.13M | €562k |
| Equity | €308k | €69k | €33k | €398k | €168k |
| Debt | €918k | €901k | €646k | €728k | €394k |
| of which ≤ 1y | €741k | €719k | €431k | €503k | €307k |
| of which > 1y | €177k | €182k | €214k | €128k | €86k |
| Working capital | €327k | €100k | €75k | €398k | €115k |
| Employees (FTE) | 7.3 | 7.2 | 6.9 | 7.1 | 3.9 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.44 | 1.14 | 1.17 | 1.79 | 1.37 |
| Quick ratio | 1.12 | 0.82 | 0.93 | 1.52 | 1.32 |
| Working capital ratio | 26.7% | 10.4% | 11.0% | 35.4% | 20.4% |
| Solvency | 25.1% | 7.1% | 4.8% | 35.3% | 29.9% |
| Debt / equity | 2.98 | 13.13 | 19.75 | 1.83 | 2.35 |
| Long-term debt ratio | 0.57 | 2.65 | 6.56 | 0.32 | 0.51 |
| Interest coverage | 9.82 | 5.56 | -25.63 | 82.36 | 69.70 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 19.5% | 3.7% | -53.8% | 20.4% | 25.1% |
| ROE | 77.7% | 52.4% | -1116.6% | 57.8% | 83.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.23M | €970k | €678k | €1.13M | €562k |
| Fixed assets | 21/28 | €157k | €150k | €172k | €224k | €139k |
| Tangible fixed assets | 22/27 | €155k | €150k | €172k | €224k | €139k |
| Financial fixed assets | 28 | €2k | - | - | - | - |
| Current assets | 29/58 | €1.07M | €820k | €506k | €901k | €422k |
| Stocks & contracts in progress | 3 | €236k | €231k | €106k | €137k | €17k |
| Amounts receivable within one year | 40/41 | €756k | €469k | €284k | €575k | €311k |
| Cash & bank | 54/58 | €61k | €110k | €105k | €167k | €95k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.23M | €970k | €678k | €1.13M | €562k |
| Equity | 10/15 | €308k | €69k | €33k | €398k | €168k |
| Contributions / capital | 10/11 | €5k | €5k | €5k | €5k | €5k |
| Reserves | 13 | €303k | €64k | €28k | €393k | €163k |
| Amounts payable | 17/49 | €918k | €901k | €646k | €728k | €394k |
| Amounts payable after one year | 17 | €177k | €182k | €214k | €128k | €86k |
| Amounts payable within one year | 42/48 | €741k | €719k | €431k | €503k | €307k |
| Trade debts payable within one year | 44 | €245k | €299k | €99k | €189k | €116k |
| Income statement | ||||||
| Gross operating margin | 9900 | €723k | €474k | €90k | €712k | €410k |
| Operating result | 9901 | €264k | €54k | €-356k | €307k | €186k |
| Financial income | 75 | €9k | €961 | €3k | €7k | €2k |
| Financial charges | 65 | €32k | €19k | €12k | €4k | €3k |
| Result before taxes | 9903 | €239k | €36k | €-365k | €310k | €185k |
| Income taxes | 67/77 | €176 | €65 | €257 | €80k | €44k |
| Net result for the period | 9904 | €239k | €36k | €-365k | €230k | €141k |
| Result to be appropriated | 9905 | €239k | €36k | €-365k | €230k | €141k |
Legal Structure
| NACE primary | Roofing work(43410) |
| Legal form | Private limited company(610) |
| Incorporation | 20-11-2019 |
| Status | Active |
| Postal code | 9990 |
Establishment units
VANHAUWOOD CONSTRUCT
since 20192.296.773.522
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43502D0732/00A002 | Flanders | 299 m² | - | - |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2021net €239k ▲566%
Net result €239k, the highest in the series.
31-12
Financial
Equity above €200kEq €308k ▲349%
2 profitable years in a row build equity to €308k.
07-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €36k
Net result €36k after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 27 days late
2023
31-12
Financial
Weakest financial yearnet €-365k ▼259%
Net result drops to €-365k, the lowest in the series; recovery starts the following year.
12-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 12 days late
2022
31-12
Financial
Equity above €200kEq €398k ▲137%
2 profitable years in a row build equity to €398k.
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
08-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Joinery installation43320Roofing work43410Other construction installation43240Specialised construction activities43299Landscape service activities81300
Names & trade names
| Legal nameNL | VANHAUWOOD CONSTRUCT |
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