Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Green is investment, beige is depreciation.
Lower solvency than 95% of companies in construction of buildings. Sector median 38.6% · 2,818 companies.
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 6 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 3% of them on solvency, 1% on liquidity, 5% on profitability and 1% 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 elevated class on 30-06-2025, 6.3% 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, 7,639 companies had the same profile as VBA CONSTRUCT has now. Each dot stands for 20 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VBA CONSTRUCT itself: 6.3% 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 7,639 companies, not a prediction for VBA 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.
Liquidity is insufficient, with a current ratio of 0.06, below 1. Short-term debt is 315.8% and cash 0% of total assets. Equity is negative.
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 2 accounts on average 44 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 | ||||
|---|---|---|---|---|
| VBA CONSTRUCT Sint-Pieters-Leeuw | €10,822 | -€15,347 | -215.8% | - |
| CONTINENTIS MODULAR Overijse | €10,607 | -€4,433 | -43.5% | - |
| TraditHouse Drogenbos | €10,770 | -€4,288 | -44.5% | - |
| FLRENO Zaventem | €9,845 | -€14,989 | -22.0% | - |
| INOVA DESIGN & CONSTRUCT Drogenbos | €11,818 | €1,177 | 17.4% | - |
| SP RENOVE Sint-Genesius-Rode | €9,241 | €82 | -2.2% | - |
| KAD & FIT Machelen (Brab.) | €8,749 | -€1,950 | -11.2% | - |
These companies have the same main activity as VBA CONSTRUCT: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €8,750 and €11,800, founded in 2024.
The computed 12-month bankruptcy probability of VBA CONSTRUCT is 6.3% (elevated). The 2025 annual accounts show negative equity (-€23,349) and a net result of -€19,201.
Its solvency ranks better than 5% of 2,818 sector peers (NACE 41, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Lower than 95% of 2,818 companies in 2025.
Lower than 95% of 2,746 companies in 2025.
Lower than 95% of 2,782 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
10,822 | 4,899 | |
21/28 |
8,702 | 2,819 | |
22/27 |
8,522 | 2,639 | |
24 |
8,522 | 2,639 | |
28 |
180 | 180 | |
29/58 |
2,120 | 2,080 | |
40/41 |
1,761 | 0 | |
40 |
1,761 | 0 | |
54/58 |
0 | 2,080 | |
490/1 |
359 | 0 | |
| Balance sheet: equity and liabilities | |||
10/49 |
10,822 | 4,899 | |
10/15 |
-23,349 | -4,148 | |
10/11 |
500 | 500 | |
11 |
500 | 500 | |
1100/10 |
- | 500 | |
1109/19 |
500 | - | |
14 |
-23,849 | -4,648 | |
17/49 |
34,171 | 9,047 | |
42/48 |
34,171 | 8,769 | |
43 |
4 | - | |
430/8 |
4 | - | |
44 |
4,739 | 2,025 | |
440/4 |
4,739 | 1,647 | |
441 |
- | 378 | |
45 |
24,895 | 3,160 | |
450/3 |
17,020 | 3,160 | |
454/9 |
7,874 | - | |
47/48 |
4,533 | 3,583 | |
492/3 |
- | 278 | |
| Income statement | |||
9900 |
-15,347 | -3,463 | |
630 |
2,917 | 261 | |
640/8 |
868 | 905 | |
9901 |
-19,132 | -4,630 | |
75/76B |
3 | - | |
75 |
3 | - | |
65/66B |
72 | 18 | |
65 |
72 | 18 | |
9903 |
-19,201 | -4,648 | |
9904 |
-19,201 | -4,648 | |
9905 |
-19,201 | -4,648 | |
| Appropriation of the result | |||
9906 |
-23,849 | -4,648 | |
14P |
-4,648 | - | |
| Document | |||
The notes to these accounts have 6 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 30-07-2026.
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| -16,215 | -4,368 | ||
| -16,284 | -4,386 | ||
| 8,800 | 3,080 | ||
| -2,080 | - | ||
| -32,051 | -6,688 | ||
| -215.8% | - | ||
| 0.06 | - | ||
| -177.4% | - | ||
| -224.74 | -240.67 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €8,800 | €2,900 |
| Financial fixed assets | €0 | €180 |
| €2,917 | €261 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €19,132, larger than the loss of €4,630 in 2024.
Equity is negative. Debt (€34,171) exceeds the balance-sheet total (€10,822).
VBA CONSTRUCT has no parent and no holdings in its annual accounts. VRABII Alexandru is the only director. VBA CONSTRUCT shares no director with another company.
| BILD CONCEPT
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turnover €2.2m (2025) 0792.929.369 |
| DEMO GROUP
registered office since 09-03-2021 · founded in 2021 · accounts filed late |
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| ED MOTOR
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turnover €1.8m (2025) 0788.556.154 |
| LUITRADE
registered office since 14-05-2019 · founded in 2019 |
1.2 FTE (2023) 0726.753.001 |
| LIMO TRENDS
registered office since 16-11-2017 · founded in 2017 · accounts filed late |
total assets €1.5m (2024) 0684.767.837 |
| M.A. Solution
registered office since 02-12-2021 · founded in 2021 · accounts filed late |
turnover €606,633 (2025) 0777.963.952 |
| OST CONCEPT TOITURE
registered office since 02-06-2023 · founded in 2023 |
turnover €1.3m (2025) 0802.364.895 |
| ARKHE
registered office since 10-12-1987 · founded in 1987 |
turnover €1.3m (2025) 0432.804.694 |
| ANATOLI CONSTRUCT
registered office since 08-11-2022 · founded in 2022 |
turnover €1.3m (2025) 0793.406.352 |
| S&B PROF CONSTRUCT
registered office since 30-08-2022 · founded in 2022 · accounts filed late |
turnover €1.1m (2024) 0790.208.619 |
Deadline for the 2026 accounts: 31-07-2027
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 6 September 2024, VBA CONSTRUCT was incorporated as a private limited company by one natural person, with a starting capital of €500.12 VRABII Alexandru has served as director since 2024.3 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| Bergensesteenweg 24 registered office 1600 Sint-Pieters-Leeuw | ||
| Frans van Kalkenlaan 16 1070 Anderlecht | 06-09-2024 | 2.363.462.111 |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21306C0111/00E000 | Brussels | 3,399 m² | 1 · 900 m² | 63.7 m · 19 |
| 23077A0118/00W082 | Flanders | 1,638 m² | 1 · 398 m² | 9.5 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 1013.284.665
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