VGI CONSTRUCT
ActiveSummary
VGI CONSTRUCT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €144,000 and a net result of €25,013. Equity is growing by ~23.3% per year across the filed fiscal years. Its solvency ranks better than 57% of 36386 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74▲+11
Solvency78▼-5
Growth59▲+3
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days only on tighter terms
Liquidity ample (current ratio 2.09 against 2.48 in 2023; short-term debt: 46.9% and cash: 1.6% of total assets), and 46.9% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk
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 →
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 · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-10-2025, 92 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
92 d late
2023
61 d late
2022
107 d late
2021
78 d late
2020
108 d late
2019
32 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 80 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€442,828▲ 21.0%
2023 · €366,074
EBIT margin
9.1%▲ 5.3pp
2023 · 3.8%
Net result
€25,013▲ 273%
2023 · €6,710
Working capital
€138,055▲ 20.1%
2023 · €114,950
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line20202021202220232024
Turnover€264,808▲ 3.3%€315,757▲ 19.2%€376,294▲ 19.2%€366,074▼ 2.7%€442,828▲ 21.0%
Operating result€37,775▲ 0.8%€35,830▼ 5.1%€42,029▲ 17.3%€13,914▼ 66.9%€40,172▲ 189%
Net result€27,892above the sector's middle half▼ 6.0%€25,711within the sector's middle half▼ 7.8%€28,891above the sector's middle half▲ 12.4%€6,710within the sector's middle half▼ 76.8%€25,013within the sector's middle half▲ 273%
EBIT margin14.3%▼ 0.4pp11.3%▼ 2.9pp11.2%▼ 0.2pp3.8%▼ 7.4pp9.1%▲ 5.3pp
Equity€57,675within the sector's middle half▲ 93.7%€83,386within the sector's middle half▲ 44.6%€112,277within the sector's middle half▲ 34.6%€118,987within the sector's middle half▲ 6.0%€144,000above the sector's middle half▲ 21.0%
Total assets€74,200within the sector's middle half▲ 96.3%€155,038within the sector's middle half▲ 109%€202,976within the sector's middle half▲ 30.9%€204,537within the sector's middle half▲ 0.8%€271,179within the sector's middle half▲ 32.6%
Debt€16,524▲ 106%€71,653▲ 334%€90,699▲ 26.6%€85,550▼ 5.7%€127,179▲ 48.7%
Working capital€53,088within the sector's middle half▲ 83.5%€74,925within the sector's middle half▲ 41.1%€106,208above the sector's middle half▲ 41.8%€114,950above the sector's middle half▲ 8.2%€138,055above the sector's middle half▲ 20.1%
Solvency77.7%above the sector's middle half▼ 1.1pp53.8%within the sector's middle half▼ 23.9pp55.3%within the sector's middle half▲ 1.5pp58.2%within the sector's middle half▲ 2.9pp53.1%within the sector's middle half▼ 5.1pp
Current ratio4.21above the sector's middle half▼ 0.402.39within the sector's middle half▼ 1.822.36within the sector's middle half▼ 0.032.48within the sector's middle half▲ 0.122.09within the sector's middle half▼ 0.39
Return on assets (ROA)37.6%above the sector's middle half▼ 40.9pp16.6%within the sector's middle half▼ 21.0pp14.2%within the sector's middle half▼ 2.3pp3.3%within the sector's middle half▼ 11.0pp9.2%within the sector's middle half▲ 5.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 189% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €271,179
Fixed assets
€5,945 ▼ 50.0%
Current assets
€265,234 ▲ 37.7%
Equity and liabilities €271,179
Equity
€144,000 ▲ 21.0%
Debt
€127,179 ▲ 48.7%
Debt's share of the balance-sheet total rises from 41.8% to 46.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€47,042▲
2023 · €20,947
Cash flow
€31,884▲
2023 · €13,743
Debt to equity
0.88▲
2023 · 0.72
ROE
17.4%▲
2023 · 5.6%
Interest coverage
56.81▲
2023 · 38.91
Debt ≤ 1 year
€127,179▲
2023 · €77,691
Income taxes
€14,332▲
2023 · €6,709
Staff costs
€707▼
2023 · €1,990
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 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 bankruptcy probability of 1.2% 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 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €264,808 | €315,757 | €376,294 | €366,074 | €442,828 | ▲ 21.0% |
| Non-recurring operating income76A | - | €4,319 | €3,651 | €5,967 | €8,604 | ▲ 44.2% |
| Goods, raw materials, services and sundry goods60/61 | - | €276,446 | €323,259 | €332,240 | €390,528 | ▲ 17.5% |
| Remuneration, social security and pensions62 | - | €2,564 | €1,822 | €1,990 | €707 | ▼ 64.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,994 | €3,286 | €7,157 | €7,033 | €6,870 | ▼ 2.3% |
| Other operating charges640/8 | - | €1,950 | €5,677 | €17,226 | €13,154 | ▼ 23.6% |
| Gross operating margin9900 | €42,151 | €43,630 | €56,685 | €40,163 | €60,904 | ▲ 51.6% |
| Operating profit (loss)9901 | €37,775 | €35,830 | €42,029 | €13,914 | €40,172 | ▲ 189% |
| Financial income75/76B | - | €1 | €5 | €43 | €1 | ▼ 96.5% |
| Recurring financial income75 | €1 | €1 | €5 | €43 | €1 | ▼ 96.5% |
| Financial charges65/66B | - | €778 | €816 | €538 | €828 | ▲ 53.8% |
| Recurring financial charges65 | €1,078 | €778 | €816 | €538 | €828 | ▲ 53.8% |
| Profit (loss) for the period before taxes9903 | €36,697 | €35,053 | €41,218 | €13,419 | €39,345 | ▲ 193% |
| Income taxes67/77 | €8,805 | €9,342 | €12,327 | €6,709 | €14,332 | ▲ 114% |
| Profit (loss) for the period9904 | €27,892 | €25,711 | €28,891 | €6,710 | €25,013 | ▲ 273% |
| Profit (loss) for the period to be appropriated9905 | €27,892 | €25,711 | €28,891 | €6,710 | €25,013 | ▲ 273% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €74,200 | €155,038 | €202,976 | €204,537 | €271,179 | ▲ 32.6% |
| Fixed assets21/28 | €4,587 | €26,322 | €18,930 | €11,897 | €5,945 | ▼ 50.0% |
| Tangible fixed assets22/27 | €4,587 | €26,322 | €18,930 | €11,897 | €5,945 | ▼ 50.0% |
| Plant, machinery and equipment23 | - | €1,711 | €1,694 | €698 | €784 | ▲ 12.3% |
| Furniture and vehicles24 | - | €24,611 | €17,236 | €11,199 | €5,161 | ▼ 53.9% |
| Current assets29/58 | €69,612 | €128,716 | €184,046 | €192,641 | €265,234 | ▲ 37.7% |
| Amounts receivable within one year40/41 | €65,116 | €127,524 | €174,119 | €185,279 | €259,697 | ▲ 40.2% |
| Trade receivables40 | - | €32,518 | €42,884 | €32,801 | €83,252 | ▲ 154% |
| Other amounts receivable41 | - | €95,007 | €131,235 | €152,478 | €176,445 | ▲ 15.7% |
| Cash at bank and in hand54/58 | €4,377 | €543 | €8,794 | €6,574 | €4,299 | ▼ 34.6% |
| Deferred charges and accrued income490/1 | - | €649 | €1,134 | €789 | €1,238 | ▲ 57.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €74,200 | €155,038 | €202,976 | €204,537 | €271,179 | ▲ 32.6% |
| Equity10/15 | €57,675 | €83,386 | €112,277 | €118,987 | €144,000 | ▲ 21.0% |
| Contributions10/11 | €100 | €100 | €100 | €100 | €100 | = |
| Profit (loss) carried forward14 | €57,575 | €83,286 | €112,177 | €118,887 | €143,900 | ▲ 21.0% |
| Amounts payable17/49 | €16,524 | €71,653 | €90,699 | €85,550 | €127,179 | ▲ 48.7% |
| Amounts payable after more than one year17 | - | €17,862 | €12,861 | €7,860 | - | - |
| Financial debts170/4 | - | €17,862 | €12,861 | €7,860 | - | - |
| Amounts payable within one year42/48 | €16,524 | €53,791 | €77,839 | €77,691 | €127,179 | ▲ 63.7% |
| Financial debts43 | - | €5,001 | €5,001 | €5,001 | €22,250 | ▲ 345% |
| Credit institutions430/8 | - | €5,001 | €5,001 | €5,001 | €22,250 | ▲ 345% |
| Trade debts44 | €1,281 | €30,466 | €30,256 | €45,152 | €71,571 | ▲ 58.5% |
| Suppliers440/4 | - | €30,466 | €30,256 | €45,152 | €71,571 | ▲ 58.5% |
| Taxes, remuneration and social security45 | - | €18,324 | €30,651 | €27,538 | €33,358 | ▲ 21.1% |
| Taxes450/3 | - | €18,324 | €30,651 | €27,538 | €33,358 | ▲ 21.1% |
| Other amounts payable47/48 | - | - | €11,931 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,892 | €25,711 | €28,891 | €6,710 | €25,013 | ▲ 273% |
| + Depreciation and write-downs630 | €1,994 | €3,286 | €7,157 | €7,033 | €6,870 | ▼ 2.3% |
| Operating cash flow (approximation) | €29,886 | €28,997 | €36,048 | €13,743 | €31,884 | ▲ 132% |
| Investment in fixed assets (approximation) | - | -€25,021 | €235 | €0 | -€919 | - |
| Change in cash | - | -€3,833 | €8,250 | -€2,220 | -€2,275 | ▼ 2.5% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 92 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €6,710 ▼76.8%
Net result drops to €6,710, the lowest in the series; recovery starts the following year.
15-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 107 days late
2022
31-12
Financial
Equity above €100,000Eq €112,277 ▲34.6%
4 profitable years in a row build equity to €112,277.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 108 days late
2020
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sint-Pieters-Leeuw · 1 establishment unit since 2018
Ground area
1,712 m²
Building footprint
465 m²
Volume, LiDAR
3,818 m³
2 parcels, Brussels, Flanders · tallest building 14.7 m, ±3 floors. Linked by address, not a title deed.
515
companies at this address
See who is registered here
1 establishment unit
VGI CONSTRUCT
since 20182.281.045.268
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23077A0118/00W082 | Flanders | 1,638 m² | 1 · 398 m² | 9.5 m · 3 fl. |
| 21306C0186/00H002 | Brussels | 74 m² | 1 · 67 m² | 14.7 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.
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Of 15,524 companies in sector 43990 we hold annual accounts for 7,427. 6,097 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 (pre-2019)
Founded26-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
43120Site preparation
43230Insulation installation
43350Other building finishing work
81220Other building cleaning and industrial cleaning
E-invoicing
Reachable via Peppol
Peppol ID
0208:0705849204
Also
9925:BE0705849204
Registered
30-10-2025
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.