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VGL CONSTRUCT

Active
Private limited companyfounded 2017active for 9 yearsWindmolenstraat 29, 3800 Sint-Truiden, BelgiumKBO/BCE: BE 0669.562.690
Summary

VGL CONSTRUCT has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of €759,837. Equity is growing by about 38% per year across the filed financial years. Its solvency ranks better than 42% of 522 sector peers (NACE 42, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Overview

Activity
Construction of utility projects for electricity and telecommunications
NACE 42220
3rd fastest staff growth in Limburg, Civil engineering sector2 sites
Size
€3.5mtotal assets 2025
Staff
16 FTE
Equity
€1.2m
Profit
€759,837
Turnover not published (abbreviated or micro format)Net result +150%: branch of activity transferred
Financial health
91 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Structure
Holdings
1
2025 accounts 70 days early4 of 10 deeds summarised
Why 91lowers riskFigures for financial year 2025 (filed 27-05-2026)Liquidity: current ratio 1.48, cash €741,056Profit of €759,837 (financial year 2025)Size: 16 FTE, total assets €3.5mShow the evidence

Checked score

Score 2025
91 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 75% of its sector peers (NACE 42, small)
Financial strength · tick = 2024
Strong
Solvency 58+7
equity 32.8% of total assets
Liquidity 59-4
short-term debt 37.1% · cash 21.0%
Profitability 96+13
return on assets 21.5%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (301 companies, NACE 42, small)
Last 24 months 11-2024: 4.2%highest value 12-2024: 4.2%● unchanged vs 11-2024highest value 01-2025: 4.2%● unchanged vs 12-2024 02-2025: 4.2%● unchanged vs 01-2025 03-2025: 3.7%▼ -0.5 percentage points vs 02-2025 04-2025: 4.0%▲ +0.3 percentage points vs 03-2025 05-2025: 4.1%▲ +0.1 percentage points vs 04-2025 06-2025: 3.9%▼ -0.2 percentage points vs 05-2025 07-2025: 4.2%▲ +0.3 percentage points vs 06-2025 08-2025: 1.6%▼ -2.6 percentage points vs 07-2025 09-2025: 1.6%● unchanged vs 08-2025 10-2025: 1.6%● unchanged vs 09-2025 11-2025: 1.6%● unchanged vs 10-2025 12-2025: 1.6%● unchanged vs 11-2025 01-2026: 1.6%● unchanged vs 12-2025 02-2026: 1.6%● unchanged vs 01-2026 03-2026: 1.8%▲ +0.2 percentage points vs 02-2026 04-2026: 2.0%▲ +0.2 percentage points vs 03-2026 05-2026: 2.0%● unchanged vs 04-2026 06-2026: 1.1%▼ -0.9 percentage points vs 05-2026 07-2026: 1.0%▼ -0.1 percentage points vs 06-2026 08-2026: 1.0%● unchanged vs 07-2026 09-2026: 1.0%● unchanged vs 08-2026 10-2026: 0.2%▼ -0.8 percentage points vs 09-2026lowest value
Credit of up to €100,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.48, compared with 1.37 in 2024, below the usual 1.5; short-term debt: 37.1% and cash: 21% of total assets), and 67.2% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 42, small): better than 40% on solvency, 77% on liquidity, 92% on profitability and 93% on growth.

The bankruptcy probability was computed on 27-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Five signals.
lowers riskneutral
lowers risk · Figures for financial year 2025 (filed 27-05-2026)
NBB · annual accounts
lowers risk · Liquidity: current ratio 1.48, cash €741,056
NBB · annual accounts
lowers risk · Profit of €759,837 (financial year 2025)
NBB · annual accounts
lowers risk · Size: 16 FTE, total assets €3.5m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
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 22-05-2026, 70 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
70 days early
2024
31 days early
2023
4 days early
2022
142 days early
2021
36 days early
2020
36 days early
2019
36 days 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 51 days before the deadline; the sector median (NACE 42) for financial year 2024 is 2 days before the deadline, and 41% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 June (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven months
Where today falls in the filing period
28-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Capital & shares · RestructuringDemerger · Capital decrease ·…
  2. Annual accounts filedfinancial year 2025 · abbreviated…
  3. Capital & shares · RestructuringAppointment: Finvision Bedrijfsrevisoren bv (statutory…

Financials · financial year 2025, abbreviated format

Equity
€1.2m▲ 67.8%
2024 · €690,778
Total assets
€3.5m▲ 32.3%
2024 · €2.7m
Net result
€759,837▲ 150%
2024 · €303,977
Working capital
€632,104▲ 122%
2024 · €284,489
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 116% above 2024 and is the highest result in the available series.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€1.1m 2025 Net result€0.8m 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 42, Civil engineering: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.05m-€0.08m▲ 77.3%€0.1m▲ 25.1%€0.2m▲ 73.4%€0.2m▲ 36.3%€0.02m▼ 91.3%€0.5m▲ 24×€1.1m▲ 116%
Net result€0.04m-€0.05m▲ 32.3%€0.07mabove the sector's middle half▲ 31.0%€0.1mwithin the sector's middle half▲ 93.6%€0.1mwithin the sector's middle half▲ 13.0%-€0.01mbelow the sector's middle half€0.3mabove the sector's middle half€0.8mabove the sector's middle half▲ 150%
Equity€0.06m-€0.08m▲ 41.7%€0.1mabove the sector's middle half▲ 81.2%€0.3mwithin the sector's middle half▲ 86.8%€0.4mwithin the sector's middle half▲ 51.9%€0.4mwithin the sector's middle half▼ 7.4%€0.7mwithin the sector's middle half▲ 78.6%€1.2mabove the sector's middle half▲ 67.8%
Total assets€0.2m-€0.4m▲ 109%€0.4mabove the sector's middle half▲ 2.1%€1.6mwithin the sector's middle half▲ 264%€1.6mwithin the sector's middle half▼ 1.4%€1.8mwithin the sector's middle half▲ 9.4%€2.7mwithin the sector's middle half▲ 51.2%€3.5mabove the sector's middle half▲ 32.3%
Debt€0.2m-€0.4m▲ 134%€0.3m▼ 15.8%€1.4m▲ 350%€1.2m▼ 12.2%€1.4m▲ 15.2%€2.0m▲ 43.5%€2.4m▲ 19.9%
Working capital€0.09m-€0.03m▼ 63.5%€0.09mabove the sector's middle half▲ 172%€0.2mwithin the sector's middle half▲ 102%€0.2mwithin the sector's middle half▲ 26.6%€0.3mwithin the sector's middle half▲ 28.2%€0.3mwithin the sector's middle half▼ 7.3%€0.6mabove the sector's middle half▲ 122%
Solvency27.2%-18.4%▼ 8.8pp32.7%within the sector's middle half▲ 14.3pp16.8%below the sector's middle half▼ 15.9pp25.9%within the sector's middle half▲ 9.1pp21.9%within the sector's middle half▼ 4.0pp25.9%within the sector's middle half▲ 4.0pp32.8%within the sector's middle half▲ 7.0pp
Current ratio3.82-1.36▼ 2.472.61within the sector's middle half▲ 1.251.99within the sector's middle half▼ 0.622.17within the sector's middle half▲ 0.171.93within the sector's middle half▼ 0.231.37within the sector's middle half▼ 0.561.48within the sector's middle half▲ 0.12
Return on assets (ROA)18.1%-11.4%▼ 6.6pp14.7%within the sector's middle half▲ 3.2pp7.8%within the sector's middle half▼ 6.9pp8.9%within the sector's middle half▲ 1.1pp-0.7%below the sector's middle half▼ 9.7pp11.4%within the sector's middle half▲ 12.1pp21.5%above the sector's middle half▲ 10.1pp
Staff (FTE)3.8-7.3▲ 92.1%9.6above the sector's middle half▲ 31.5%12within the sector's middle half▲ 25.0%11.5within the sector's middle half▼ 4.2%11.3within the sector's middle half▼ 1.7%15within the sector's middle half▲ 32.7%16above the sector's middle half▲ 6.7%
above within below the middle half of NACE 42, Civil engineering: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Why a figure moved sharply
  • 2025 Net result +150%, Equity +68% on 2024. Partial demerger to LIVENTO, effective 01-10-2025.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.5m
Fixed assets €1.6m ▼ 1.2%
Current assets €1.9m ▲ 83.1%
Equity and liabilities €3.5m
Equity €1.2m ▲ 67.8%
Debt €2.4m ▲ 19.9%
Debt's share of the balance-sheet total falls from 74.1% to 67.2%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€1.2m▲
2024 · €619,142
Cash flow
€880,440▲
2024 · €426,336
Debt to equity
2.04▼
2024 · 2.86
ROE
65.5%▲
2024 · 44.0%
Interest coverage
23.39▲
2024 · 8.47
Debt ≤ 1 year
€1.3m▲
2024 · €775,224
Debt > 1 year
€1.1m▼
2024 · €1.2m
Income taxes
€264,277▲
2024 · €119,699
Staff costs
€1.2m▲
2024 · €974,988
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 6,782 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 96.7% are still going.

  • Small
  • 5 to 10 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.6% went bankrupt
2.7% stopped otherwise
96.7% still going

For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 6,782 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet Code20242025
Assets
Total assets20/58€2.7m€3.5m▲
Fixed assets21/28€1.6m€1.6m▼
Intangible fixed assets21€0.08m€0.07m▼
Tangible fixed assets22/27€1.1m€1.1m▼
Land and buildings22€1.0m€0.9m▼
Plant, machinery and equipment23€0.04m€0.06m▲
Furniture and vehicles24€0.09m€0.1m▲
Other tangible fixed assets26€407€271▼
Financial fixed assets28€0.5m€0.5m=
Current assets29/58€1.1m€1.9m▲
Amounts receivable after more than one year29€0.01m-
Other amounts receivable291€0.01m-
Amounts receivable within one year40/41€0.5m€1.2m▲
Trade receivables40€0.4m€1.1m▲
Other amounts receivable41€0.06m€0.08m▲
Cash at bank and in hand54/58€0.5m€0.7m▲
Deferred charges and accrued income490/1€0.06m€0.04m▼
Equity and liabilities
Total equity and liabilities10/49€2.7m€3.5m▲
Equity10/15€0.7m€1.2m▲
Contributions10/11€0.002m€0.002m=
Reserves13€0.7m€1.2m▲
Distributable reserves133€0.7m€1.2m▲
Amounts payable17/49€2.0m€2.4m▲
Amounts payable after more than one year17€1.2m€1.1m▼
Financial debts170/4€1.2m€1.1m▼
Amounts payable within one year42/48€0.8m€1.3m▲
Current portion of amounts payable after more than one year42€0.2m€0.1m▼
Trade debts44€0.3m€0.7m▲
Suppliers440/4€0.3m€0.7m▲
Taxes, remuneration and social security45€0.06m€0.2m▲
Taxes450/3€0.005m€0.1m▲
Remuneration and social security454/9€0.06m€0.03m▼
Other amounts payable47/48€0.3m€0.3m▲
Income statement Code20242025
Non-recurring operating income76A€0.003m€0.03m▲
Remuneration, social security and pensions62€1.0m€1.2m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.1m▼
Other operating charges640/8€0.002m€0.002m▼
Gross operating margin9900€1.6m€2.4m▲
Operating profit (loss)9901€0.5m€1.1m▲
Financial income75/76B€27€0.001m▲
Recurring financial income75€27€0.001m▲
Financial charges65/66B€0.07m€0.05m▼
Recurring financial charges65€0.07m€0.05m▼
Profit (loss) for the period before taxes9903€0.4m€1.0m▲
Income taxes67/77€0.1m€0.3m▲
Profit (loss) for the period9904€0.3m€0.8m▲
Profit (loss) for the period to be appropriated9905€0.3m€0.8m▲
Appropriation of the result
Profit (loss) to be appropriated9906€0.3m€0.8m▲
Profit (loss) brought forward from the previous period14P-€0.01m-
Transfer from equity791/2-€0.3m
Transfer to equity691/2€0.3m€0.8m▲
To other reserves6921€0.3m€0.8m▲
Profit to be distributed694/7-€0.3m
Return on contributions (dividend)694-€0.3m
Social balance sheet
Average headcount (FTE)908715.016.0▲

The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20182019202020212022202320242025Change
Non-recurring operating income76A------€0.003m€0.03m▲ 12×
Remuneration, social security and pensions62---€0.6m€0.6m€0.7m€1.0m€1.2m▲ 22.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.02m€0.07m€0.05m€0.09m€0.1m€0.1m€0.1m€0.1m▼ 1.4%
Other operating charges640/8---€0.08m€0.01m€0.009m€0.002m€0.002m▼ 8.4%
Gross operating margin9900€0.2m€0.5m€0.6m€0.9m€1.0m€0.8m€1.6m€2.4m▲ 49.8%
Operating profit (loss)9901€0.05m€0.08m€0.1m€0.2m€0.2m€0.02m€0.5m€1.1m▲ 116%
Financial income75/76B---€11€0.001m€61€27€0.001m▲ 42×
Recurring financial income75€24€1€92€11€0.001m€61€27€0.001m▲ 42×
Financial charges65/66B---€0.01m€0.02m€0.03m€0.07m€0.05m▼ 30.2%
Recurring financial charges65€0.003m€0.009m€0.007m€0.01m€0.02m€0.03m€0.07m€0.05m▼ 30.2%
Profit (loss) for the period before taxes9903€0.04m€0.07m€0.09m€0.2m€0.2m-€0.006m€0.4m€1.0m▲ 142%
Income taxes67/77€0.004m€0.02m€0.03m€0.03m€0.07m€0.007m€0.1m€0.3m▲ 121%
Profit (loss) for the period9904€0.04m€0.05m€0.07m€0.1m€0.1m-€0.01m€0.3m€0.8m▲ 150%
Profit (loss) for the period to be appropriated9905€0.04m€0.05m€0.07m€0.1m€0.1m-€0.01m€0.3m€0.8m▲ 150%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€0.2m€0.4m€0.4m€1.6m€1.6m€1.8m€2.7m€3.5m▲ 32.3%
Formation expenses20€0.001m€487€247€7€0€0---
Fixed assets21/28€0.08m€0.3m€0.3m€1.3m€1.2m€1.1m€1.6m€1.6m▼ 1.2%
Intangible fixed assets21€447€80-€0€0€0.004m€0.08m€0.07m▼ 1.6%
Tangible fixed assets22/27€0.08m€0.3m€0.3m€1.3m€1.2m€1.1m€1.1m€1.1m▼ 1.7%
Land and buildings22---€1.1m€1.1m€1.0m€1.0m€0.9m▼ 5.6%
Plant, machinery and equipment23---€0.05m€0.03m€0.05m€0.04m€0.06m▲ 64.6%
Furniture and vehicles24---€0.06m€0.05m€0.06m€0.09m€0.1m▲ 12.9%
Other tangible fixed assets26---€0.001m€0.001m€0.001m€407€271▼ 33.3%
Financial fixed assets28-€0.001m----€0.5m€0.5m=
Current assets29/58€0.1m€0.1m€0.2m€0.4m€0.4m€0.6m€1.1m€1.9m▲ 83.1%
Amounts receivable after more than one year29----€0.003m€0.003m€0.01m--
Other amounts receivable291----€0.003m€0.003m€0.01m--
Stocks and contracts in progress3---€0.2m€0.2m€0.2m---
Stocks30/36---€0.2m€0.2m€0.2m---
Amounts receivable within one year40/41€0.09m€0.1m€0.1m€0.1m€0.2m€0.3m€0.5m€1.2m▲ 150%
Trade receivables40---€0.1m€0.2m€0.2m€0.4m€1.1m▲ 167%
Other amounts receivable41---€0.03m€0.02m€0.09m€0.06m€0.08m▲ 29.2%
Cash at bank and in hand54/58€0.04m€0.02m€0.02m€0.08m€0.001m€0.1m€0.5m€0.7m▲ 41.8%
Deferred charges and accrued income490/1---€0.01m€0.07m€0.07m€0.06m€0.04m▼ 36.9%
Equity and liabilities
Total equity and liabilities10/49€0.2m€0.4m€0.4m€1.6m€1.6m€1.8m€2.7m€3.5m▲ 32.3%
Equity10/15€0.06m€0.08m€0.1m€0.3m€0.4m€0.4m€0.7m€1.2m▲ 67.8%
Contributions10/11€0.05m--€0.02m€0.02m€0.002m€0.002m€0.002m=
Reserves13€0.01m€0.06m€0.1m€0.3m€0.4m€0.4m€0.7m€1.2m▲ 68.0%
Distributable reserves133---€0.3m€0.4m€0.4m€0.7m€1.2m▲ 68.0%
Profit (loss) carried forward14--€0.02m----€0.01m---
Amounts payable17/49€0.2m€0.4m€0.3m€1.4m€1.2m€1.4m€2.0m€2.4m▲ 19.9%
Amounts payable after more than one year17€0.1m€0.3m€0.2m€1.2m€1.0m€1.0m€1.2m€1.1m▼ 11.6%
Financial debts170/4---€1.2m€1.0m€1.0m€1.2m€1.1m▼ 11.6%
Amounts payable within one year42/48€0.03m€0.1m€0.06m€0.2m€0.2m€0.3m€0.8m€1.3m▲ 68.7%
Current portion of amounts payable after more than one year42---€0.1m€0.08m€0.1m€0.2m€0.1m▼ 17.8%
Trade debts44€0.02m€0.03m€0.03m€0.08m€0.03m€0.1m€0.3m€0.7m▲ 142%
Suppliers440/4---€0.08m€0.03m€0.1m€0.3m€0.7m▲ 142%
Taxes, remuneration and social security45---€0.004m€0.03m€0.01m€0.06m€0.2m▲ 177%
Taxes450/3----€0.02m€0.002m€0.005m€0.1m▲ 30×
Remuneration and social security454/9---€0.004m€0.004m€0.009m€0.06m€0.03m▼ 40.3%
Other amounts payable47/48----€0.07m€0.1m€0.3m€0.3m▲ 19.2%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.04m€0.05m€0.07m€0.1m€0.1m-€0.01m€0.3m€0.8m▲ 150%
+ Depreciation and write-downs630€0.02m€0.07m€0.05m€0.09m€0.1m€0.1m€0.1m€0.1m▼ 1.4%
Operating cash flow (approximation)€0.06m€0.1m€0.1m€0.2m€0.3m€0.1m€0.4m€0.9m▲ 107%
Investment in fixed assets (approximation)--€0.3m-€0.04m-€1.0m-€0.04m-€0.08m-€0.6m-€0.1m▲ 83.1%
Change in cash--€0.01m€0.001m€0.05m-€0.08m€0.1m€0.4m€0.2m▼ 45.9%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Filings with the National Bank (9)
Financial year Type Filed Reference
31-12-2025 abbreviated format 22-05-2026 2026-00121532
31-12-2024 abbreviated format 30-06-2025 2025-00233679
31-12-2023 abbreviated format 27-07-2024 2024-00292357
31-12-2022 abbreviated format 11-03-2023 2023-00038329
31-12-2021 abbreviated format 25-06-2022 2022-20091746
31-12-2020 micro format 25-06-2021 2021-24700134
31-12-2019 micro format 25-06-2020 2020-21600475
31-12-2018 micro format 22-05-2019 2019-13900329
31-12-2017 micro format 28-06-2018 2018-25000556

Similar companies · same sector, comparable size

Of the 1,791 active companies whose main activity is construction of utility projects for electricity and telecommunications (NACE 42220), figures are known for 976. 392 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Subsidies and aid

Flemish government

2022 to 2025 · 8 entries · €68,048 awarded · €67,081 paid
Year Entries AwardedPaid
2025 2 €30,761€29,981
2024 2 €17,732€17,783
2023 2 €10,777€10,605
2022 2 €8,778€8,712
Schemes
2 entries · €43,422 · €43,422 paid · Departement Werk en Sociale Economie
2 entries · €17,617 · €17,617 paid · Departement Werk en Sociale Economie
4 entries · €7,009 · €6,042 paid · Fonds voor Innoveren en Ondernemen

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Directors
No directors read yet: 4 of 10 Gazette acts processed. See the directors and other office holders in the KBO →

Owners and capital

Capital and shareholders

Capital over the years
  1. 12-08-2026 Capital reduction of €600,543.41 · to €966,728.14
  2. 12-08-2026 Capital reduction of €600,543.41 · to €966,728.14

Group and network

Holdings and subsidiaries

1 holding

Holdings 1

According to the 2025 annual accounts of VGL CONSTRUCT and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.

Connections & network

Depth

The board mandates are listed below; here you explore them as a network.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Board mandates elsewhere

1 board mandate
Board mandates of this companythis company sits on their board1
1 location

Acquisitions and mergers

1 transaction
Split off to:LIVENTO
partial demerger · Gazette deed of 12-08-2026 (2 acts) · effective 01-10-2025

History

VGL CONSTRUCT was incorporated on 13 January 2017.1 The name was changed to VGL Infra in 2024.2 The company has filed 9 sets of annual accounts, the latest for financial year 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 11-09-2024
  3. 3National Bank, annual accounts 2025

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
12-08
Gazette deed Capital & shares · Restructuring
Demerger · Capital decrease · Kind of shares13 facts ▸
  • General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
  • Other provision, “waiver of reports, 12:61 WVV” (deed in Dutch)
  • Other provision, “acknowledgement of demerger proposal, meer dan zes weken voor de huidige algemene vergadering” (deed in Dutch)
  • Other provision, “waiver of full reading of proposal, geen verdere toelichtingen te wensen” (deed in Dutch)
  • Other provision, “no interim figures, laatst neergelegde jaarrekening betrekking op boekjaar met afsluitdatum 31-12-2025, minder dan zes maanden vóór splitsingsvoorstel” (deed in Dutch)
  • Demerger, “partial split, enkel de in de partiële splitsingsstaat (zoals aangehecht aan het voorstel tot partiële splitsing) vermelde actief- en passief bestanddelen (en d…” (deed in Dutch)
  • Capital decrease, €600,543.41 (2 times)
  • Other provision, “distribution rules not applicable, geen uitkering aan de aandeelhouders” (deed in Dutch)
  • Other provision, “no special arrangements regarding profit participation rights” (deed in Dutch)
  • Kind of shares, “common shares, none” (deed in Dutch)
  • Other provision, “no special benefits granted to management bodies of the receiving or splitting company” (deed in Dutch)
  • Power of attorney, Elise DE WILDE
  • +1 further fact in this act
22-05
NBB filing Annual accounts filed
financial year 2025 · abbreviated format
08-05
Gazette deed Capital & shares · Restructuring
Appointment: Finvision Bedrijfsrevisoren bv (statutory auditor) · Demerger · Registered office clause17 facts ▸
  • Demerger, “partiele splitsing, staat van activa en passiva per 2025-09-30” (deed in Dutch)
  • Board composition, Liesbeth Cans (sole director)
  • Registered office clause, “3800 Sint-Truiden, Ambachtslaan 5280” (deed in Dutch)
  • Board composition, Liesbeth Cans (director)
  • Board composition, Gianni Ventura (director)
  • Share issue, 17158, “inschrijving in register van aandelen op naam” (deed in Dutch)
  • Other provision, “winstdeling nieuwe aandelen”, 01-10-2025 (deed in Dutch)
  • Accounting effect, 01-10-2025
  • Other provision, “bijzondere rechten en effecten VGL CONSTRUCT, gewone aandelen zonder nominale waarde” (deed in Dutch)
  • Auditor appointment, Finvision Bedrijfsrevisoren bv
  • Other provision, “bijzondere voordelen bestuursorganen, bestuursorganen verkrijgende en partieel te splitsen vennootschap” (deed in Dutch)
  • Other provision, “partiele splitsingsstaat aangehecht aan voorstel, enkel in partiele splitsingsstaat vermelde bestanddelen met rechten en plichten” (deed in Dutch)
  • +5 further facts in this act
2025
31-12
Financial Highest result from 2018 to 2025net €759,837 ▲150%
Operating result €1.1m, net result €759,837, both a record.
31-12
Financial Equity above €1mequity €1.2m ▲67.8%
2 profitable years in a row build equity to €1.2m.
30-06
NBB filing Annual accounts filed
financial year 2024 · abbreviated format
2024
31-12
Financial Back to profitnet €303,977
Net result €303,977 after one loss-making year.
31-12
Financial Equity above €500,000equity €690,778 ▲78.6%
Equity rises from €386,801 to €690,778.
17-09
Gazette deed Registered office · Legal-form change · Name
Correction1 fact ▸
  • Correction, “als onbestaande te beschouwen”, 20-08-2024 (deed in Dutch)
11-09
Gazette deed Registered office · Other addresses · Capital & shares · Purpose · Amendment of the articles · Legal-form change · Name
Name change · Purpose change · Power of attorney5 facts ▸
  • General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
  • Name change, VGL Infra
  • Other provision, “omstandig verslag bestuursorgaan artikel 7:154 WVV verantwoording voorgestelde wijziging voorwerp” (deed in Dutch)
  • Purpose change
  • Power of attorney, Frank DE WILDE
27-07
NBB filing Annual accounts filed
financial year 2023 · abbreviated format
2023
31-12
Financial Weakest financial yearnet -€12,629
Net result drops to -€12,629, the lowest in the series; recovery starts the following year.
Show earlier events
11-03
NBB filing Annual accounts filed
financial year 2022 · abbreviated format
2022
25-06
NBB filing Annual accounts filed
financial year 2021 · abbreviated format
2021
31-12
Financial Equity above €200,000equity €275,020 ▲86.8%
A profit in every financial year since 2018 builds equity to €275,020.
25-06
NBB filing Annual accounts filed
financial year 2020 · micro format
2020
31-12
Financial Equity above €100,000equity €147,253 ▲81.2%
A profit in every financial year since 2018 builds equity to €147,253.
25-06
NBB filing Annual accounts filed
financial year 2019 · micro format
2019
22-05
NBB filing Annual accounts filed
financial year 2018 · micro format
2018
28-06
NBB filing Annual accounts filed
financial year 2017 · micro format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
4 of 10 deeds read
About the unread acts

Of the 10 Belgian Official Gazette deeds we know for this company, 4 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Register details

Identification
Legal formPrivate limited company
Founded13-01-2017
Financial year end31-12
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
Contact
E-mail info@vglconstruct.be
E-invoicing
Reachable via Peppol
Peppol ID 0208:0669562690
Registered 16-01-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 27 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

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, with enterprise number 0669.562.690

Recognitions · licences · registrations

Recognised contractor

7 categories
VGL CONSTRUCT BVapproval no. 40492
  • C2 Water supply and laying all kinds of pipesclass 5, up to €2,172,000
  • C6 Laying power and telecom cables in trenchesclass 5, up to €2,172,000
  • C7 Horizontal pipe jacking for cables and pipesclass 1, up to €162,000
  • P1 Electrical installations in buildings, with fire and burglar alarms and telecomsclass 5, up to €2,172,000
  • P2 Electrical and electromechanical installations of structures and industry, outdoor installationsclass 3, up to €600,000
  • P3 Overhead power linesclass 3, up to €600,000
  • S1 Public telephone and telegraph equipmentclass 3, up to €600,000
decision 07-11-2024

Dual-learning approval

1 ended
Monteur centrale verwarming (so)
ended · 2017 to 2022

Legal Entity Identifier

8945003FMY9PNBI5X263
live in the LEI register

Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Sint-Truiden · 2 establishment units since 2017
registered office establishment All 2 establishment units on the map
Ground area
5,842 m²
Building footprint
1,171 m²
Building volume
6,002 m³
2 parcels, Flanders · tallest building 9.1 m. Linked by address, not a title deed.
2 establishment units
VGL Construct
Windmolenstraat 29, 3800 Sint-TruidenConstruction of utility projects for electricity and telecommunications
since 2017unit no. 2.261.452.456
Ambachtslaan 5280, 3800 Sint-Truiden
Construction of utility projects for electricity and telecommunications
since 2021unit no. 2.319.601.481
2 parcels
Flanders 2 (100%)
Cadastral parcel Region Area Buildings Height / floors
71009A0108/00D002 Flanders 3,114 m² 1 · 338 m² 9.1 m · 2
71352D0930/00Z015 Flanders 2,727 m² 1 · 832 m² 6.8 m · 2
How the parcels are linked
Good to know
Both parcels match the address exactly.

Articles of association

PurposeThe activities the company may carry out under its articles.
“Schilder-, behang-, gyproc- en chapewerken; Voeg- en metselwerken; Eindafwerking van woningen en bedrijfsgebouwen; Alle activiteiten van…” (deed in Dutch)
60 activities (deed in Dutch)
  1. Schilder-, behang-, gyproc- en chapewerken;
  2. Voeg- en metselwerken;
  3. Eindafwerking van woningen en bedrijfsgebouwen;
  4. Alle activiteiten van algemeen aannemer;
  5. Afbraakwerken;
  6. Gevelreiniging;
  7. Waterdichtingswerken;
  8. Alle activiteiten met betrekking tot elektrische installaties en bedrading (elektrotechniek);
  9. De installatie in gebouwen en andere bouwwerken van apparatuur en leidingen voor verwarming, ventilatie, koeling en klimaatregeling, centrale verwarming, luchtverwarming en vloerverwarming, op elektriciteit, stookolie en aardgas;
  10. Installatie van apparatuur voor verluchting en luchtzuivering;
  11. Het aanleggen van waterdistributienetten en riolering;
  12. Het aanleggen of herstelling van allerlei verwarmingsinstallaties voor gebouwen;
  13. Aanleg van leidingen voor het vervoer en distributie van elektrische energie;
  14. Realiseren van aansluitingen van nutsvoorzieningen op het net;
  15. Loodgieterswerk, stukadoorswerk;
  16. Vloer- en tegelwerken;
  17. Alle activiteiten rond isolatie;
  18. Aanleg van telecommunicatie en bekabeling;
  19. (Her)bestrating op openbaar domein;
  20. Rioleringswerk;
  21. Dakdichtingswerken, constructie- en stabiliteitswerken;
  22. Plaatsen van trappen, ramen en deuren;
  23. Plaatsen sierschouwen en haarden, enz.;
  24. Plaatsing van serres;
  25. Handelsbemiddeling in de aan- en verkoop inzake alle bouwmaterialen, installatiematerialen, elektrische en elektronische materialen, loodgietersmateriaal;
  26. Restauratie bouwwerken;
  27. Uitbating pizzeria en horeca zaak;
  28. Activiteiten rond grafisch ontwerp;
  29. Decoratie en interieurinrichting;
  30. Landmeter;
  31. EPB verslaggeving, energieprestatiecertificering en energie audit;
  32. Plaatsbeschrijvingen, plaatsing signalisatie op openbaar domein;
  33. Keuringen (niet) huishoudelijke installaties en technische installaties;
  34. Alle activiteiten rond veiligheidscoördinatie;
  35. Projectontwikkeling voor de nieuwbouw van individuele woningen of voor renovatiewerken;
  36. Handel in eigen onroerend goed, flatgebouwen en woningen niet voor bewoningen bestemde gebouwen, grond;
  37. De verhuur van al dan niet gemeubelde appartementen en huizen;
  38. Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed;
  39. Alle activiteiten en diensten in verband met zonne-energie installaties en dit in de ruimste zin van het woord;
  40. Onderhoud en reiniging van zonne-energie installaties;
  41. Het verkopen en of het plaatsen van zonnepanelen en fotovoltaïsche platen en installaties;
  42. Verkoop en plaatsing van alle soorten alternatieve energiebronnen, zonnepannelen, windenergie, fotovoltaïsche cellen ed.;
  43. Onderneming voor betoncentrales en cementagglomeraten;
  44. Waterbouwkundige werken zoals de eigenlijk zee -en stroomwerken waaronder het bouwen en herstellen sluizen, stuwdammen, dijken, zeedammen, kanalen, en technische werken aan de waterwegen en de havenwerken, de grote werken van droogleggen en pompen, de grote irrigatiewerken en regeling van de waterlopen, de uitbaggering;
  45. Wegenbouw en bouw van niet metalen kunstwerken zoals het bouwen, herstellen en onderhouden wegen, van fietspaden, van vliegvelden en startbanden van niet metalen kunstwerken zoals bruggen en viaducten, wegen en spoorwegtunnels, watertorens, silo's zwembaden, kolenopslagplaatsen, as kuilen, draaischijven, weegbruggen, en steunmuren enz, eveneens de rioleringswerken;
  46. Het bouwen, aanleggen van speelpleinen en sportvelden evenals van parken en tuinen, met inbegrip van de aanplantingen, eveneens in kunststof. Omvat eveneens het plaatsen van afsluitingen en omheiningen;
  47. Het leggen van klinkers en kasseien voor wegen, terrassen en opritten;
  48. Slopingswerken en het slopen van kunstwerken en gebouwen, evenals het effenen en het wegruimen;
  49. Restauratie van bouwwerken;
  50. Het verkopen, verhuren en plaatsen van alle soorten containers;
  51. Het plaatsen van pompstations en turbines, van elektromechanische installaties van kunstwerken en nijverheidsinrichtingen en elektrische buiteninstallaties, uitrustingen voor afstandsbediening, afstandsmeting afstandscontrole. Het plaatsen van woon-units;
  52. De aan-en verkoop van onroerende goederen, het bouwrijp maken van terreinen, het verwerven, het verbeteren, inrichten, bezitten en beheren van onroerende goederen van alle aard, het verkavelen, het verhuren, de in opstal verlenen en ter beschikking stellen onder alle vormen van alle onroerende goederen van alle bestemmingen;
  53. De vennootschap kan onroerende goederen verwerven met het oog op de terbeschikkingstelling ervan aan zaakvoerders, aandeelhouders en hun gezinsleden.
  54. Dit alles in de meest ruime zin.
  55. Daartoe kan de vennootschap samen werken met, deelnemen in, of op gelijk welke wijze, rechtstreeks of onrechtstreeks, belangen nemen in andere ondernemingen.
  56. Zowel in België als in het buitenland mag de vennootschap alle nijverheids-, handels-, financiële, roerende en onroerende handelingen verrichten, die rechtstreeks of onrechtstreeks met haar maatschappelijk voorwerp betrekking hebben of die van aard zouden zijn de verwezenlijking ervan te bevorderen of te vergemakkelijken.
  57. De vennootschap kan eveneens belangen hebben door middel van inbreng, afstand, samensmelting of op gelijk welke andere manier in andere vennootschappen of gelijkaardige ondernemingen die van aard zijn om rechtstreeks of onrechtstreeks de ontwikkeling der zaken te bevorderen.
  58. De vennootschap zal mogen optreden als bestuurder of vereffenaar in andere vennootschappen.
  59. Alle opsommingen zijn van beschrijvende en niet van beperkende aard.
  60. Alle voornoemde activiteiten kunnen uitgeoefend worden zowel voor eigen rekening als voor rekening van derden, op de wijze die haar het meest geschikt lijkt.

The full purpose is in the deed

deed of 08-05-2026
Other provisionsOther rules from the articles that fall under none of the themes above.
Accounting effect: “01-10-2025” (deed in Dutch)
2 more provisions in the deed, see the deed of 12-08-2026
deed of 12-08-2026

Read from the deeds: 4 provisions, deed of 12-08-2026