VDH CONSTRUCTION
ActiveSummary
VDH CONSTRUCTION has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €183,192 and a net result of -€13,170. Equity is growing by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 61% of 2218 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▼-64
Solvency73▼-2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity tight (current ratio 1.16 against 1.86 in 2024; short-term debt: 19% and cash: 15.5% of total assets), and 52% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
48 d early
2023
37 d early
2022
48 d early
2021
40 d early
2020
32 d early
2019
49 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 41 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. Usually files around 21 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€13,170
2024 · €33,629
Working capital
€11,460▼ 82.2%
2024 · €64,328
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
Line20212022202320242025
Operating result€27,967▼ 52.2%-€1,089€157,349€27,518▼ 82.5%-€30,039
Net result€27,040within the sector's middle half▼ 28.9%€15,395within the sector's middle half▼ 43.1%€111,359within the sector's middle half▲ 623%€33,629within the sector's middle half▼ 69.8%-€13,170below the sector's middle half
Equity€128,479within the sector's middle half▲ 26.7%€143,874within the sector's middle half▲ 12.0%€200,233within the sector's middle half▲ 39.2%€233,862within the sector's middle half▲ 16.8%€183,192within the sector's middle half▼ 21.7%
Total assets€417,190within the sector's middle half▲ 22.0%€468,452within the sector's middle half▲ 12.3%€561,360within the sector's middle half▲ 19.8%€466,716within the sector's middle half▼ 16.9%€381,982within the sector's middle half▼ 18.2%
Debt€288,710▲ 20.0%€324,578▲ 12.4%€361,127▲ 11.3%€232,854▼ 35.5%€198,789▼ 14.6%
Working capital€58,509within the sector's middle half▲ 35.4%€50,892within the sector's middle half▼ 13.0%€62,920within the sector's middle half▲ 23.6%€64,328within the sector's middle half▲ 2.2%€11,460within the sector's middle half▼ 82.2%
Solvency30.8%within the sector's middle half▲ 1.1pp30.7%within the sector's middle half▼ 0.1pp35.7%within the sector's middle half▲ 5.0pp50.1%within the sector's middle half▲ 14.4pp48.0%within the sector's middle half▼ 2.1pp
Current ratio1.40within the sector's middle half▲ 0.211.44within the sector's middle half▲ 0.031.36within the sector's middle half▼ 0.071.86within the sector's middle half▲ 0.491.16within the sector's middle half▼ 0.70
Return on assets (ROA)6.5%within the sector's middle half▼ 4.6pp3.3%within the sector's middle half▼ 3.2pp19.8%above the sector's middle half▲ 16.6pp7.2%within the sector's middle half▼ 12.6pp-3.4%below the sector's middle half▼ 10.7pp
Staff (FTE)2.6below the sector's middle half▼ 33.3%2.4below the sector's middle half▼ 7.7%2.8below the sector's middle half▲ 16.7%3.3below the sector's middle half▲ 17.9%2.8within the sector's middle half▼ 15.2%
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.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €30,039 after €27,518 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €381,245
Fixed assets
€297,399 ▼ 8.9%
Current assets
€83,846 ▼ 39.8%
Equity and liabilities €381,982
Equity
€183,192 ▼ 21.7%
Debt
€198,789 ▼ 14.6%
Debt's share of the balance-sheet total rises from 49.9% to 52.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,000▼
2024 · €54,673
Cash flow
€15,870▼
2024 · €60,784
Debt to equity
1.09▲
2024 · 1.00
ROE
-7.2%▼
2024 · 14.4%
Interest coverage
-0.26▼
2024 · 12.30
Debt ≤ 1 year
€72,386▼
2024 · €75,038
Debt > 1 year
€126,403▼
2024 · €157,216
Staff costs
€66,817▼
2024 · €85,766
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 12,321 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €103,971 | €75,965 | €82,308 | €85,766 | €66,817 | ▼ 22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €56,371 | €21,566 | €27,735 | €27,155 | €29,039 | ▲ 6.9% |
| Other operating charges640/8 | €203 | €1,721 | €1,886 | €1,962 | €2,024 | ▲ 3.1% |
| Non-recurring operating charges66A | - | - | - | - | €5,143 | - |
| Gross operating margin9900 | €188,512 | €98,163 | €269,279 | €142,401 | €72,983 | ▼ 48.7% |
| Operating profit (loss)9901 | €27,967 | -€1,089 | €157,349 | €27,518 | -€30,039 | ▼ 209% |
| Financial income75/76B | €18,568 | €32,460 | €15,572 | €24,292 | €20,784 | ▼ 14.4% |
| Recurring financial income75 | €2,583 | €782 | €1,527 | €1,335 | €184 | ▼ 86.2% |
| Non-recurring financial income76B | €15,985 | €31,678 | €14,046 | €22,957 | €20,600 | ▼ 10.3% |
| Financial charges65/66B | €2,036 | €5,291 | €4,004 | €4,495 | €3,914 | ▼ 12.9% |
| Recurring financial charges65 | €1,730 | €3,632 | €3,380 | €4,445 | €3,914 | ▼ 11.9% |
| Non-recurring financial charges66B | €306 | €1,659 | €624 | €50 | - | - |
| Profit (loss) for the period before taxes9903 | €44,499 | €26,080 | €168,918 | €47,315 | -€13,170 | ▼ 128% |
| Income taxes67/77 | €17,459 | €10,685 | €57,559 | €13,686 | - | - |
| Profit (loss) for the period9904 | €27,040 | €15,395 | €111,359 | €33,629 | -€13,170 | ▼ 139% |
| Profit (loss) for the period to be appropriated9905 | €27,040 | €15,395 | €111,359 | €33,629 | -€13,170 | ▼ 139% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €417,190 | €468,452 | €561,360 | €466,716 | €381,982 | ▼ 18.2% |
| Formation expenses20 | - | - | €1,236 | €986 | €737 | ▼ 25.3% |
| Fixed assets21/28 | €213,317 | €300,847 | €324,069 | €326,363 | €297,399 | ▼ 8.9% |
| Tangible fixed assets22/27 | €209,161 | €297,195 | €321,742 | €317,022 | €291,688 | ▼ 8.0% |
| Land and buildings22 | €190,000 | €190,000 | €190,000 | €190,000 | €190,000 | = |
| Plant, machinery and equipment23 | €15,664 | €29,925 | €26,182 | €23,175 | €20,349 | ▼ 12.2% |
| Furniture and vehicles24 | €3,497 | €77,270 | €105,560 | €103,848 | €81,339 | ▼ 21.7% |
| Financial fixed assets28 | €4,156 | €3,652 | €2,327 | €9,341 | €5,711 | ▼ 38.9% |
| Current assets29/58 | €203,873 | €167,605 | €236,055 | €139,366 | €83,846 | ▼ 39.8% |
| Amounts receivable within one year40/41 | €9,695 | €57,753 | €40,632 | €40,079 | €24,744 | ▼ 38.3% |
| Trade receivables40 | €3,574 | €50,145 | €17,086 | €31,308 | €11,696 | ▼ 62.6% |
| Other amounts receivable41 | €6,122 | €7,608 | €23,546 | €8,772 | €13,048 | ▲ 48.7% |
| Cash at bank and in hand54/58 | €192,578 | €106,059 | €194,630 | €98,478 | €59,102 | ▼ 40.0% |
| Deferred charges and accrued income490/1 | €1,600 | €3,793 | €793 | €809 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €417,190 | €468,452 | €561,360 | €466,716 | €381,982 | ▼ 18.2% |
| Equity10/15 | €128,479 | €143,874 | €200,233 | €233,862 | €183,192 | ▼ 21.7% |
| Contributions10/11 | €6,250 | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Reserves13 | €121,375 | €136,375 | €181,375 | €214,375 | €176,875 | ▼ 17.5% |
| Non-distributable reserves130/1 | €1,875 | €1,875 | - | - | - | - |
| Reserves not available under the articles1311 | €1,875 | €1,875 | - | - | - | - |
| Distributable reserves133 | €119,500 | €134,500 | €181,375 | €214,375 | €176,875 | ▼ 17.5% |
| Profit (loss) carried forward14 | €854 | €1,249 | €12,608 | €13,237 | €67 | ▼ 99.5% |
| Amounts payable17/49 | €288,710 | €324,578 | €361,127 | €232,854 | €198,789 | ▼ 14.6% |
| Amounts payable after more than one year17 | €142,329 | €172,565 | €187,371 | €157,216 | €126,403 | ▼ 19.6% |
| Financial debts170/4 | €142,329 | €172,565 | €187,371 | €157,216 | €126,403 | ▼ 19.6% |
| Amounts payable within one year42/48 | €145,364 | €116,713 | €173,136 | €75,038 | €72,386 | ▼ 3.5% |
| Current portion of amounts payable after more than one year42 | €21,491 | €20,949 | €29,518 | €30,156 | €30,813 | ▲ 2.2% |
| Trade debts44 | €39,218 | €5,716 | €24,614 | €24,561 | €4,073 | ▼ 83.4% |
| Suppliers440/4 | €39,218 | €5,716 | €24,614 | €24,561 | €4,073 | ▼ 83.4% |
| Taxes, remuneration and social security45 | €19,629 | €47,673 | €58,896 | €15,480 | - | - |
| Taxes450/3 | €17,459 | €47,133 | €57,559 | €13,686 | - | - |
| Remuneration and social security454/9 | €2,170 | €540 | €1,338 | €1,794 | - | - |
| Other amounts payable47/48 | €65,026 | €42,376 | €60,108 | €4,841 | €37,500 | ▲ 675% |
| Accrued charges and deferred income492/3 | €1,018 | €35,300 | €620 | €600 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,040 | €15,395 | €111,359 | €33,629 | -€13,170 | ▼ 139% |
| + Depreciation and write-downs630 | €56,371 | €21,566 | €27,735 | €27,155 | €29,039 | ▲ 6.9% |
| Operating cash flow (approximation) | €83,411 | €36,961 | €139,094 | €60,784 | €15,870 | ▼ 73.9% |
| Investment in fixed assets (approximation) | - | -€109,097 | -€50,957 | -€29,449 | -€75 | ▲ 99.7% |
| Change in cash | - | -€86,519 | €88,571 | -€96,152 | -€39,376 | ▲ 59.0% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€13,170
Net result drops to -€13,170, the lowest in the series.
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €111,359 ▲623%
Operating result €157,349, net result €111,359, both a record.
31-12
Financial
Equity above €200,000Eq €200,233 ▲39.2%
6 profitable years in a row build equity to €200,233.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Soumagne · 1 establishment unit since 2006
Ground area
1,200 m²
Building footprint
228 m²
Volume, LiDAR
1,191 m³
Parcel 62069C0068/00E000, Wallonia · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VDH CONSTRUCTION
since 20062.152.466.127
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62069C0068/00E000 | Wallonia | 1,200 m² | 1 · 228 m² | 7.9 m · 2 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.
Structure & network
Owners and holdings
2 ownersOwners 2
- Michel VANDERHEYDENnatural personSourceown accounts 202599.6%
- Nathalie COUNASSEnatural personSourceown accounts 20250.4%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of VDH CONSTRUCTION and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. 12,287 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
Founded01-03-2006
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0879673105
Registered
04-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.