Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The micro format states no turnover.
The 2025 accounts came latest: 53 days after the end of the period.
Lower solvency than 95% of companies in specialised construction. Sector median 46.7% · 35,125 companies.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 4 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 43, micro). It does better than 3% of them on solvency, 2% on liquidity, 92% on profitability and 90% 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 moderate class on 30-06-2025, 2.4% 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, 1,017 companies had the same profile as VE CONSTRUCT has now. Each dot stands for 3 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VE CONSTRUCT itself: 4.0% 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 1,017 companies, not a prediction for VE 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.
The balance sheet total is too small for a liquidity verdict. 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 4 accounts on average 12 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VE CONSTRUCT Kraainem | €3,012 | €10,427 | -28.3% | - |
| ATG CONSTRUCT Anderlecht | €6,705 | €7,377 | -452.9% | - |
| NOVO ENERGIES Turnhout | €7,294 | €6,082 | 70.2% | - |
| EMISOL Heist-op-den-Berg | €7,792 | €6,825 | 36.4% | - |
| R-BAT Forest | €8,855 | €8,394 | 70.6% | - |
| Arslan Construct Antwerp | €5,592 | €3,444 | 48.3% | - |
| LXM Group Maaseik | €7,424 | €7,678 | 79.5% | - |
These companies have the same main activity as VE CONSTRUCT: other construction installation (NACE 43240). They are comparable in size and age: total assets between €5,590 and €8,860, founded between 2021 and 2024.
VE CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from -€3,507 in 2022 to €10,427 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €60,000 and €250,000.
Lower than 95% of 35,955 companies in 2024.
Lower than 95% of 35,353 companies in 2024.
Higher than 44% of 35,537 companies in 2024.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
3,012 | 5,090 | 7,162 | 18,806 | |
21/28 |
3,000 | 4,500 | 6,000 | 7,500 | |
22/27 |
3,000 | 4,500 | 6,000 | 7,500 | |
24 |
3,000 | 4,500 | 6,000 | 7,500 | |
29/58 |
12 | 590 | 1,162 | 11,306 | |
40/41 |
3 | 590 | 807 | 2,075 | |
40 |
- | - | - | 1,020 | |
41 |
3 | 590 | 807 | 1,055 | |
54/58 |
9 | - | 356 | 9,231 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
3,012 | 5,090 | 7,162 | 18,806 | |
10/15 |
-852 | -9,564 | -9,803 | -517 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
14 |
-3,852 | -12,564 | -12,803 | -3,517 | |
17/49 |
3,864 | 14,654 | 16,965 | 19,323 | |
42/48 |
3,864 | 14,654 | 16,965 | 19,323 | |
43 |
- | 25 | - | - | |
430/8 |
- | 25 | - | - | |
44 |
2,823 | 2,595 | 1,699 | - | |
440/4 |
2,823 | 2,595 | 1,699 | - | |
45 |
260 | 35 | 35 | - | |
450/3 |
260 | 35 | 35 | - | |
47/48 |
781 | 11,999 | 15,230 | 19,323 | |
| Income statement | |||||
9900 |
10,427 | 1,891 | -8,149 | -3,507 | |
630 |
1,500 | 1,500 | 1,500 | - | |
9901 |
8,927 | 391 | -9,649 | -3,507 | |
75/76B |
- | 1 | 413 | - | |
75 |
- | 1 | 413 | - | |
65/66B |
214 | 154 | 50 | 10 | |
65 |
214 | 154 | 50 | 10 | |
9903 |
8,712 | 238 | -9,286 | -3,517 | |
9904 |
8,712 | 238 | -9,286 | -3,517 | |
9905 |
8,712 | 238 | -9,286 | -3,517 | |
| Appropriation of the result | |||||
9906 |
-3,852 | -12,564 | -12,803 | -3,517 | |
14P |
-12,564 | -12,803 | -3,517 | - | |
| Document | |||||
The notes to these accounts have 4 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 22-09-2026.
2025 annual accounts filed 53 days after the deadline. Filed on 22 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00525988.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 10,427 | 1,891 | -8,149 | - | ||
| 10,212 | 1,738 | -7,786 | - | ||
| 0 | 0 | 0 | 7,500 | ||
| - | - | -8,876 | - | ||
| -3,852 | -14,064 | -15,803 | -8,017 | ||
| - | -187.9% | -136.9% | -2.7% | ||
| - | 0.04 | 0.07 | 0.59 | ||
| - | 4.7% | -129.6% | -18.7% | ||
| 48.62 | 12.29 | -162.75 | - |
The ratios are withheld because a balance sheet total of €3,012 is too small for a meaningful ratio.
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 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €7,500 |
| €1,500 | €1,500 | €1,500 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is nearly 23 times that of 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Equity is negative. Debt (€3,864) exceeds the balance-sheet total (€3,012).
VE CONSTRUCT has no parent and no holdings in its annual accounts. TAFILAJ Valdet is the only director. VE CONSTRUCT shares no director with another company.
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registered office since 14-09-2010 · founded in 2010 · accounts filed late |
turnover €116,331 (2023) 0828.270.132 |
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
VE CONSTRUCT was incorporated on 14 October 2022 as a private limited company by one natural person, with a starting capital of €3,000.12 Since 2022, TAFILAJ Valdet has served as sole director.3 Total assets fell from €18,806 in 2022 to €3,012 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Frans Vander Elststraat 4 registered office 1950 Kraainem 2511001 Manufacture of metal structures and parts of structures | 14-10-2022 | 2.337.106.815 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 22002C0027/00B006 | 109 m² | 1 · 66 m² | 8.4 m · 1 |
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 0792.503.757
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