VBC-CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of VBC-CONSTRUCT is 1.9% (moderate). The 2025 annual accounts show equity of €57,717 and a net result of €19,400. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 41% of 7564 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability55▼-31
Solvency60▲+5
Growth52▲+20
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 1.53 against 1.34 in 2024; short-term debt: 53.9% and cash: 27.6% of total assets), but 65% 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 →
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
35%
Return on assets
11.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
3 d early
2024
23 d early
2023
42 d early
2022
28 d early
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 13 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€57,717▲ 50.6%
2024 · €38,316
Total assets
€164,672▲ 30.9%
2024 · €125,821
Net result
€19,400▲ 12.6%
2024 · €17,231
Working capital
€46,948▲ 57.7%
2024 · €29,773
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€42,130--€854-€25,159▼ 2,848%€16,589€33,366▲ 101%
Net result€35,448-€3,473▼ 90.2%-€22,835€17,231€19,400▲ 12.6%
Equity€40,448-€43,920▲ 8.6%€21,085▼ 52.0%€38,316▲ 81.7%€57,717▲ 50.6%
Total assets€53,626-€110,343▲ 106%€60,387▼ 45.3%€125,821▲ 108%€164,672▲ 30.9%
Debt€13,179-€66,423▲ 404%€39,302▼ 40.8%€87,504▲ 123%€106,955▲ 22.2%
Working capital€23,356-€28,975▲ 24.1%€10,068▼ 65.3%€29,773▲ 196%€46,948▲ 57.7%
Turnover and EBIT margin not published: the micro 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 101% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €164,672
Fixed assets
€28,901 ▲ 238%
Current assets
€135,771 ▲ 15.8%
Equity and liabilities €164,672
Equity
€57,717 ▲ 50.6%
Debt
€106,955 ▲ 22.2%
Debt's share of the balance-sheet total falls from 69.5% to 65.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€39,391▲
2024 · €20,910
Cash flow
€25,426▲
2024 · €21,552
Current ratio
1.53▲
2024 · 1.34
Quick ratio
1.26▲
2024 · 1.07
Debt to equity
1.85▼
2024 · 2.28
ROE
33.6%▼
2024 · 45.0%
ROA
11.8%▼
2024 · 13.7%
Interest coverage
2.56▼
2024 · 115.08
Debt ≤ 1 year
€88,823▲
2024 · €87,504
Debt > 1 year
€18,132
Income taxes
€5,407
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 26,964 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €859 | €3,834 | €3,928 | €4,321 | €6,026 | ▲ 39.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €30,000 | - |
| Other operating charges640/8 | - | €62 | €62 | €2,887 | €681 | ▼ 76.4% |
| Gross operating margin9900 | €42,989 | €3,043 | -€21,169 | €23,797 | €70,072 | ▲ 194% |
| Operating profit (loss)9901 | €42,130 | -€854 | -€25,159 | €16,589 | €33,366 | ▲ 101% |
| Financial income75/76B | €2,001 | €5,214 | €2,428 | €824 | €6,815 | ▲ 727% |
| Recurring financial income75 | €2,001 | €5,214 | €2,428 | €824 | €6,815 | ▲ 727% |
| Financial charges65/66B | €6 | €113 | €104 | €182 | €15,373 | ▲ 8,361% |
| Recurring financial charges65 | €6 | €113 | €104 | €182 | €15,373 | ▲ 8,361% |
| Profit (loss) for the period before taxes9903 | €44,125 | €4,248 | -€22,835 | €17,231 | €24,808 | ▲ 44.0% |
| Income taxes67/77 | €8,678 | €775 | - | - | €5,407 | - |
| Profit (loss) for the period9904 | €35,448 | €3,473 | -€22,835 | €17,231 | €19,400 | ▲ 12.6% |
| Profit (loss) for the period to be appropriated9905 | €35,448 | €3,473 | -€22,835 | €17,231 | €19,400 | ▲ 12.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €53,626 | €110,343 | €60,387 | €125,821 | €164,672 | ▲ 30.9% |
| Fixed assets21/28 | €17,091 | €14,945 | €11,018 | €8,543 | €28,901 | ▲ 238% |
| Tangible fixed assets22/27 | €17,091 | €14,945 | €11,018 | €8,543 | €28,901 | ▲ 238% |
| Plant, machinery and equipment23 | €17,091 | €14,945 | €11,018 | €7,688 | €5,137 | ▼ 33.2% |
| Furniture and vehicles24 | - | - | - | €855 | €23,765 | ▲ 2,679% |
| Current assets29/58 | €36,535 | €95,398 | €49,369 | €117,277 | €135,771 | ▲ 15.8% |
| Stocks and contracts in progress3 | - | €57,137 | €15,814 | €23,676 | €23,782 | ▲ 0.5% |
| Stocks30/36 | - | €57,137 | €15,814 | €23,676 | €23,782 | ▲ 0.5% |
| Amounts receivable within one year40/41 | €20,579 | €11,931 | €19,206 | €84,262 | €66,614 | ▼ 20.9% |
| Trade receivables40 | €2,033 | €454 | €19,206 | €77,884 | €11,662 | ▼ 85.0% |
| Other amounts receivable41 | €18,546 | €11,477 | - | €6,378 | €54,952 | ▲ 762% |
| Cash at bank and in hand54/58 | €15,956 | €26,330 | €14,350 | €8,450 | €45,374 | ▲ 437% |
| Deferred charges and accrued income490/1 | - | - | - | €890 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €53,626 | €110,343 | €60,387 | €125,821 | €164,672 | ▲ 30.9% |
| Equity10/15 | €40,448 | €43,920 | €21,085 | €38,316 | €57,717 | ▲ 50.6% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €35,448 | €38,920 | €16,085 | €33,316 | €52,717 | ▲ 58.2% |
| Amounts payable17/49 | €13,179 | €66,423 | €39,302 | €87,504 | €106,955 | ▲ 22.2% |
| Amounts payable after more than one year17 | - | - | - | - | €18,132 | - |
| Financial debts170/4 | - | - | - | - | €18,132 | - |
| Amounts payable within one year42/48 | €13,179 | €66,423 | €39,302 | €87,504 | €88,823 | ▲ 1.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €4,395 | - |
| Trade debts44 | - | €46,922 | €28,802 | €79,136 | €74,049 | ▼ 6.4% |
| Suppliers440/4 | - | €46,922 | €28,802 | €79,136 | €74,049 | ▼ 6.4% |
| Taxes, remuneration and social security45 | €8,678 | €9,453 | €7,952 | €4,871 | €5,422 | ▲ 11.3% |
| Taxes450/3 | €8,678 | €9,453 | €7,952 | €4,871 | €5,422 | ▲ 11.3% |
| Other amounts payable47/48 | €4,501 | €10,048 | €2,548 | €3,497 | €4,957 | ▲ 41.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,448 | €3,473 | -€22,835 | €17,231 | €19,400 | ▲ 12.6% |
| + Depreciation and write-downs630 | €859 | €3,834 | €3,928 | €4,321 | €6,026 | ▲ 39.5% |
| Operating cash flow (approximation) | €36,306 | €7,307 | -€18,907 | €21,552 | €25,426 | ▲ 18.0% |
| Investment in fixed assets (approximation) | - | -€1,689 | €0 | -€1,846 | -€26,384 | ▼ 1,329% |
| Change in cash | - | €10,374 | -€11,980 | -€5,900 | €36,924 | ▲ 726% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €17,231
Net result €17,231 after one loss-making year.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€22,835
Net result drops to -€22,835, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
2 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, Gingelom · 1 establishment unit since 2021
Ground area
184 m²
Parcel 71017B0057/00F002, Flanders. Linked by address, not a title deed.
1 establishment unit
VBC-CONSTRUCT
since 20212.314.795.132
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71017B0057/00F002indicative | Flanders | 184 m² | - | - |
Linked by address, not proof of ownership
Good to know
0 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
2025 · 1 entry · 278 EUR awarded · 278 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 278 EUR | 278 EUR |
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 13,167 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
Founded15-03-2021
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41003General construction of other non-residential buildings
43320Joinery installation
68201Renting and operating of own or leased residential real estate, excluding social housing
77221Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0765202811
Also
9925:BE0765202811
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.