VERSCHAEVE - CONSTRUCT
ActiveSummary
VERSCHAEVE - CONSTRUCT has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.7m and a net result of €189,488. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 79% of 2059 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-8
Solvency92▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200,000 at 30 days acceptable
Liquidity ample (current ratio 2.28 against 2.28 in 2024; short-term debt: 21.9% and cash: 9.2% of total assets), and 32.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
67.4%
Return on assets
4.7%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
6 d early
2023
12 d early
2022
20 d early
2021
48 d early
2020
1 d early
2019
21 d late
← 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 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
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Financials · fiscal year 2025, full schema
In the rankings
#2 oldest company in Menen, Construction sector#5 employer in Menen, Construction sector#7 company by equity in Menen, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€189,488▼ 57.0%
2024 · €441,094
Working capital
€1.1m▲ 11.3%
2024 · €1.0m
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€679,532▲ 56.5%€694,500▲ 2.2%€924,768▲ 33.2%€700,381▼ 24.3%€337,552▼ 51.8%
Net result€428,057▲ 49.8%€439,347▲ 2.6%€582,135▲ 32.5%€441,094▼ 24.2%€189,488▼ 57.0%
Equity€2.3m▲ 4.1%€2.2m▼ 5.8%€2.5m▲ 12.6%€2.5m▲ 2.3%€2.7m▲ 7.5%
Total assets€3.7m▲ 0.2%€3.8m▲ 2.3%€3.6m▼ 4.0%€3.9m▲ 6.9%€4.0m▲ 3.6%
Debt€1.4m▼ 5.9%€1.6m▲ 16.0%€1.2m▼ 26.8%€1.4m▲ 16.5%€1.3m▼ 3.7%
Working capital€998,236▼ 5.4%€811,535▼ 18.7%€1.2m▲ 53.1%€1.0m▼ 18.5%€1.1m▲ 11.3%
Staff (FTE)33.9▲ 4.6%34.2▲ 0.9%33.1▼ 3.2%34.9▲ 5.4%34.1▼ 2.3%
Why a figure moved sharply
- 2025 Net result -57% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 52% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€2.0m ▼ 2.9%
Current assets
€2.0m ▲ 11.0%
Equity and liabilities €4.0m
Equity
€2.7m ▲ 7.5%
Debt
€1.3m ▼ 3.7%
Debt's share of the balance-sheet total falls from 35.1% to 32.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€752,770▼
2024 · €1.0m
Cash flow
€604,706▼
2024 · €781,904
Current ratio
2.28▲
2024 · 2.28
Quick ratio
1.54▲
2024 · 1.52
Debt to equity
0.48▼
2024 · 0.54
ROE
7.0%▼
2024 · 17.6%
ROA
4.7%▼
2024 · 11.4%
Interest coverage
7.73▼
2024 · 9.43
Debt ≤ 1 year
€878,487▲
2024 · €793,704
Debt > 1 year
€392,492▼
2024 · €529,325
Income taxes
€81,146▼
2024 · €186,304
Staff costs
€2.4m▼
2024 · €2.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,058 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 14,684 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €30,028 | €28,690 | €17,348 | €7,200 | €583 | ▼ 91.9% |
| Remuneration, social security and pensions62 | €2.0m | €2.1m | €2.1m | €2.4m | €2.4m | ▼ 1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €377,337 | €334,072 | €352,503 | €340,811 | €415,218 | ▲ 21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€2,101 | -€79,657 | €0 | -€93,854 | -€2,854 | ▲ 97.0% |
| Other operating charges640/8 | €39,280 | €113,425 | €41,541 | €137,291 | €47,535 | ▼ 65.4% |
| Non-recurring operating charges66A | - | - | - | €23,513 | €0 | ▼ 100% |
| Gross operating margin9900 | €3.0m | €3.2m | €3.5m | €3.5m | €3.2m | ▼ 9.7% |
| Operating profit (loss)9901 | €679,532 | €694,500 | €924,768 | €700,381 | €337,552 | ▼ 51.8% |
| Financial income75/76B | €22,578 | €36,606 | €36,157 | €37,417 | €30,427 | ▼ 18.7% |
| Recurring financial income75 | €22,578 | €36,606 | €36,157 | €37,417 | €30,427 | ▼ 18.7% |
| Financial charges65/66B | €94,557 | €113,587 | €110,132 | €110,400 | €97,346 | ▼ 11.8% |
| Recurring financial charges65 | €94,557 | €113,587 | €110,132 | €110,400 | €97,346 | ▼ 11.8% |
| Profit (loss) for the period before taxes9903 | €607,553 | €617,518 | €850,792 | €627,398 | €270,634 | ▼ 56.9% |
| Transfer from deferred taxes780 | €466 | €217 | €0 | - | - | - |
| Income taxes67/77 | €179,963 | €178,388 | €268,657 | €186,304 | €81,146 | ▼ 56.4% |
| Profit (loss) for the period9904 | €428,057 | €439,347 | €582,135 | €441,094 | €189,488 | ▼ 57.0% |
| Transfer from tax-exempt reserves789 | €1,398 | €651 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €429,454 | €439,997 | €582,135 | €441,094 | €189,488 | ▼ 57.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.7m | €3.8m | €3.6m | €3.9m | €4.0m | ▲ 3.6% |
| Fixed assets21/28 | €1.9m | €1.9m | €1.7m | €2.1m | €2.0m | ▼ 2.9% |
| Intangible fixed assets21 | €154,113 | €121,142 | €82,677 | €44,213 | €13,844 | ▼ 68.7% |
| Tangible fixed assets22/27 | €1.7m | €1.8m | €1.6m | €2.0m | €2.0m | ▼ 1.5% |
| Land and buildings22 | €1.0m | €1.0m | €973,386 | €1.1m | €1.1m | ▲ 6.4% |
| Plant, machinery and equipment23 | €638,147 | €660,362 | €476,413 | €676,709 | €631,046 | ▼ 6.7% |
| Furniture and vehicles24 | €46,799 | €78,517 | €131,383 | €286,511 | €234,994 | ▼ 18.0% |
| Current assets29/58 | €1.8m | €1.9m | €2.0m | €1.8m | €2.0m | ▲ 11.0% |
| Stocks and contracts in progress3 | €505,463 | €624,718 | €629,112 | €602,752 | €650,442 | ▲ 7.9% |
| Stocks30/36 | €505,463 | €624,718 | €629,112 | €602,752 | €650,442 | ▲ 7.9% |
| Amounts receivable within one year40/41 | €875,482 | €904,158 | €953,294 | €911,889 | €943,028 | ▲ 3.4% |
| Trade receivables40 | €665,998 | €645,316 | €674,889 | €588,158 | €559,408 | ▼ 4.9% |
| Other amounts receivable41 | €209,484 | €258,842 | €278,404 | €323,730 | €383,620 | ▲ 18.5% |
| Cash at bank and in hand54/58 | €391,191 | €298,616 | €332,662 | €235,558 | €367,367 | ▲ 56.0% |
| Deferred charges and accrued income490/1 | €36,587 | €44,630 | €41,084 | €56,179 | €44,695 | ▼ 20.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.7m | €3.8m | €3.6m | €3.9m | €4.0m | ▲ 3.6% |
| Equity10/15 | €2.3m | €2.2m | €2.5m | €2.5m | €2.7m | ▲ 7.5% |
| Contributions10/11 | €635,000 | €62,579 | €62,579 | €62,579 | €62,579 | = |
| Capital10 | €635,000 | €62,579 | €62,579 | €62,579 | €62,579 | = |
| Issued capital100 | €635,000 | €62,579 | €62,579 | €62,579 | €62,579 | = |
| Reserves13 | €1.7m | €2.1m | €2.4m | €2.4m | €2.6m | ▲ 7.7% |
| Non-distributable reserves130/1 | €63,500 | €63,500 | €6,258 | €6,258 | €6,258 | = |
| Legal reserve130 | €63,500 | €63,500 | €6,258 | €6,258 | €6,258 | = |
| Tax-exempt reserves132 | €651 | €0 | - | - | - | - |
| Distributable reserves133 | €1.6m | €2.1m | €2.4m | €2.4m | €2.6m | ▲ 7.8% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €217 | €0 | - | - | - | - |
| Deferred taxes168 | €217 | €0 | - | - | - | - |
| Amounts payable17/49 | €1.4m | €1.6m | €1.2m | €1.4m | €1.3m | ▼ 3.7% |
| Amounts payable after more than one year17 | €552,166 | €516,541 | €428,571 | €529,325 | €392,492 | ▼ 25.9% |
| Financial debts170/4 | €552,166 | €516,541 | €428,571 | €529,325 | €392,492 | ▼ 25.9% |
| Amounts payable within one year42/48 | €810,487 | €1.1m | €713,539 | €793,704 | €878,487 | ▲ 10.7% |
| Current portion of amounts payable after more than one year42 | €201,948 | €230,700 | €99,025 | €134,757 | €136,833 | ▲ 1.5% |
| Financial debts43 | - | €22,608 | €22,757 | €0 | - | - |
| Credit institutions430/8 | - | €22,608 | €22,757 | €0 | - | - |
| Trade debts44 | €73,639 | €265,367 | €141,039 | €180,248 | €175,139 | ▼ 2.8% |
| Suppliers440/4 | €73,639 | €265,367 | €141,039 | €180,248 | €175,139 | ▼ 2.8% |
| Taxes, remuneration and social security45 | €175,490 | €218,778 | €124,309 | €143,591 | €116,939 | ▼ 18.6% |
| Taxes450/3 | €66,797 | €63,839 | €32,155 | €30,298 | €1,663 | ▼ 94.5% |
| Remuneration and social security454/9 | €108,693 | €154,939 | €92,155 | €113,293 | €115,276 | ▲ 1.7% |
| Other amounts payable47/48 | €359,409 | €323,135 | €326,408 | €335,108 | €449,576 | ▲ 34.2% |
| Accrued charges and deferred income492/3 | €8,759 | €13,989 | €23,375 | €34,709 | €36,057 | ▲ 3.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €428,057 | €439,347 | €582,135 | €441,094 | €189,488 | ▼ 57.0% |
| + Depreciation and write-downs630 | €377,337 | €334,072 | €352,503 | €340,811 | €415,218 | ▲ 21.8% |
| Operating cash flow (approximation) | €805,393 | €773,419 | €934,638 | €781,904 | €604,706 | ▼ 22.7% |
| Investment in fixed assets (approximation) | - | -€357,087 | -€118,266 | -€740,423 | -€354,849 | ▲ 52.1% |
| Change in cash | - | -€92,575 | €34,046 | -€97,104 | €131,809 | ▲ 236% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €189,488 ▼57%
Net result drops to €189,488, the lowest in the series.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €582,135 ▲32.5%
Operating result €924,768, net result €582,135, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 21 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 23 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Menen · 2 establishment units since 2001
Ground area
1,293 m²
Building footprint
281 m²
Volume, LiDAR
2,128 m³
2 parcels, Flanders · tallest building 13.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
TRAPPEN VERSCHAEVE
since 20012.038.083.727
Schonekeerstraat 115, 8930 Menen
since 20012.038.083.826
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34024A0577/00X005 | Flanders | 1,096 m² | 1 · 209 m² | 10.5 m · 2 fl. |
| 34041C0677/00C006 | Flanders | 196 m² | 1 · 72 m² | 13.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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
2022 to 2025 · 5 entries · 5,875 EUR awarded · 5,442 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 3,883 EUR | 3,782 EUR |
| 2023 | 1 | 332 EUR | 0 EUR |
| 2022 | 2 | 1,660 EUR | 1,660 EUR |
Recognitions · licences · registrations
Recognised contractor
2 categoriesVERSCHAEVE - CONSTRUCT NV46456
Dual-learning approval
3 live approvals · 2 endedMachinaal houtbewerker duaal (so)
Medewerker hout duaal (so)
Trappenmaker duaal (so)
Show 2 ended approvals
Binnenschrijnwerker (so)
Binnenschrijnwerker (so)
Legal Entity Identifier
549300I8SE4B41LOS952
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,134. 2,256 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-03-1977
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
46831Wholesale of construction materials, general range
47551Retail sale of household furniture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0417149290
Registered
22-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.