Filings
The 2023 accounts came latest: 52 days after the end of the period.
The 2023 accounts came latest: 52 days after the end of the period.
Lower net result than 90% of companies in construction of buildings. Sector median €8,551 · 9,446 companies.
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 41, micro). It does better than 65% of them on solvency, 82% on liquidity, 5% on profitability and 9% 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 3,223 companies had the same profile as VAZ CONSTRUCT has now. Each dot stands for 9 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VAZ CONSTRUCT itself: 1.3% within 12 months.
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.
| 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 3,223 companies, not a prediction for VAZ 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.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 2.31 (4.58 in 2024), above the usual 1.5. Short-term debt is 43.2% and cash 70.9% of total assets. 43.2% of the assets are financed with debt and provisions.
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.
The company filed its last 3 accounts on average 10 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VAZ CONSTRUCT Dilbeek | €18,017 | -€15,798 | 56.8% | - |
| PTR TEAM PRO Dilbeek | €17,846 | -€4,614 | 58.5% | - |
| SANDU BOUW Pajottegem | €20,480 | €349 | 72.9% | - |
| GREENTEC Zaventem | €19,635 | €44 | 27.0% | - |
| PV COMPANY Drogenbos | €16,818 | -€2,888 | 91.4% | - |
| ALL MULTISERVICES Wemmel | €15,920 | -€10,365 | -76.7% | - |
| Beric Solutions Tervuren | €21,719 | -€609 | 66.7% | - |
These companies have the same main activity as VAZ CONSTRUCT: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €15,900 and €21,700, founded between 2022 and 2023.
VAZ CONSTRUCT files the micro format. That format states no turnover. The gross margin fell from €912 in 2023 to -€15,798 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
Higher than 64% of 9,456 companies in 2025.
Higher than 65% of 9,204 companies in 2025.
Lower than 95% of 9,276 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
18,017 | 33,634 | 3,448 | |
29/58 |
18,017 | 33,634 | 3,448 | |
40/41 |
5,248 | 9,488 | 334 | |
40 |
3,894 | 8,535 | - | |
41 |
1,354 | 953 | 334 | |
54/58 |
12,769 | 24,146 | 3,114 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
18,017 | 33,634 | 3,448 | |
10/15 |
10,226 | 26,287 | 1,729 | |
10/11 |
1,000 | 1,000 | 1,000 | |
14 |
9,226 | 25,287 | 729 | |
17/49 |
7,791 | 7,348 | 1,719 | |
42/48 |
7,791 | 7,348 | 1,719 | |
44 |
1,364 | 234 | 351 | |
440/4 |
1,364 | 234 | 351 | |
45 |
6,146 | 6,146 | 182 | |
450/3 |
6,146 | 6,146 | 182 | |
47/48 |
281 | 968 | 1,186 | |
| Income statement | ||||
9900 |
-15,798 | 30,808 | 912 | |
640/8 |
158 | - | - | |
9901 |
-15,956 | 30,808 | 912 | |
75/76B |
0 | 0 | 0 | |
75 |
0 | 0 | 0 | |
65/66B |
105 | 104 | - | |
65 |
105 | 104 | - | |
9903 |
-16,061 | 30,703 | 912 | |
67/77 |
- | 6,146 | 182 | |
9904 |
-16,061 | 24,558 | 729 | |
9905 |
-16,061 | 24,558 | 729 | |
| Appropriation of the result | ||||
9906 |
9,226 | 25,287 | 729 | |
14P |
25,287 | 729 | - | |
| Document | ||||
The notes to these accounts have 1 item. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 12-06-2026.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| -11,377 | 21,032 | - | ||
| 10,226 | 26,287 | 1,729 | ||
| 56.8% | 78.2% | - | ||
| 2.31 | 4.58 | - | ||
| 0.76 | 0.28 | - | ||
| -157.1% | 93.4% | - | ||
| -89.1% | 73.0% | - |
EBIT margin: not included in this filing.
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.
The operating result for 2025 is a loss of €15,956, after a profit of €30,808 in 2024. It is the lowest result since 2023.
Debt's share of the balance-sheet total rises from 21.8% to 43.2%. Equity is lower and debt is higher.
VAZ CONSTRUCT has no parent and no holdings in its annual accounts. VAZ Reinaldo Antonio is the only director. VAZ CONSTRUCT shares no director with another company.
| ALL MEDIA CENTER
registered office since 06-11-2023 · founded in 2023 |
turnover €2.5m (2025) 1001.973.475 |
| THE HUB
registered office since 23-03-2012 · founded in 2012 |
total assets €1.7m (2025) 0844.751.620 |
| VERONET
registered office since 01-03-2016 · founded in 2016 |
turnover €1.4m (2022) 0649.538.328 |
| KSK INVEST
registered office since 26-09-2022 · founded in 2022 |
total assets €1.3m (2025) 0791.367.570 |
| ALL INVEST BELGIUM
registered office since 04-06-2025 · founded in 2025 |
turnover €979,096 (2025) 1023.998.811 |
| CIMS
registered office since 04-06-2007 · founded in 2007 |
total assets €879,125 (2021) 0889.812.771 |
| Krihan Construct
registered office since 14-10-2021 · founded in 2021 · accounts filed late |
turnover €851,846 (2025) 0775.770.762 |
| BEAN BUSINESS
registered office since 13-09-2022 · founded in 2022 · accounts filed late |
turnover €776,561 (2024) 0790.737.268 |
| BARAKA-LAND
establishment since 19-09-2018 · founded in 2018 |
turnover €734,082 (2024) 0694.797.736 |
| INTERPRO SERVICES
registered office since 08-03-2024 · founded in 2024 |
turnover €729,479 (2025) 1006.945.221 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
VAZ CONSTRUCT was incorporated on 15 November 2022 as a private limited company by one natural person, with a starting capital of €1,000.12 VAZ Reinaldo Antonio is director of the company, appointed by deed of 17-11-2022.2 Total assets rose from €3,448 in 2023 to €18,017 in 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| Oudesmidsestraat 20 registered office 1700 Dilbeek | ||
| Alsembergse Steenweg 36 1060 Sint-Gillis (bij-Brussel) | 15-11-2022 | 2.338.075.924 |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21013B0417/00R013 | Brussels | 326 m² | 1 · 228 m² | 18.8 m · 6 |
| 23016D0063/00W002 | Flanders | 300 m² | 1 · 299 m² | 12.6 m · 3 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0793.589.266
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