Equity
Equity fell by 40% in 3 years.
Equity fell by 40% in 3 years.
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
The micro format states no turnover.
In 2025, 1 person joined and 1 left.
The last five annual accounts were filed 35 to 87 days before the end of the period.
Lower net result than 90% of companies in construction of buildings. Sector median €8,508 · 10,163 companies.
In July 2024, 4,820 companies had the same profile as vh construct has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 4,820 companies, not a prediction for vh 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.
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.
| Company | ||||
|---|---|---|---|---|
| vh construct Ranst | €101,430 | €131,888 | 41.2% | - |
| JORES Mol | €97,274 | €114,787 | 35.2% | - |
| Ossa Bois Anhée | €107,023 | €142,227 | 24.7% | - |
| BATITIME Charleroi | €108,748 | €121,350 | 51.6% | - |
| Van den Bremt Roosdaal | €105,633 | €133,250 | 9.7% | - |
| ENTREPRISE ROUET MICHAEL Grez-Doiceau | €94,393 | €155,246 | 62.6% | - |
| EF BATI Herstal | €115,889 | €135,788 | 82.2% | - |
These companies have the same main activity as vh construct: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €94,400 and €116,000, founded between 2008 and 2011.
vh construct files the micro format. That format states no turnover. The gross margin rose from €13,691 in 2010 to €131,888 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 ≈ €430,000. Estimated: probably between €300,000 and €650,000.
Higher than 48% of 10,178 companies in 2025.
Higher than 57% of 9,888 companies in 2025.
Higher than 10% of 9,976 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 1 person joined and 1 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
101,430 | 139,899 | 111,031 | 92,135 | 135,610 | 84,568 | 77,246 | 60,820 | 82,900 | 96,266 | 80,970 | 110,713 | 98,499 | 43,818 | 56,152 | 32,202 | |
21/28 |
38,776 | 53,415 | 14,952 | 17,347 | 28,334 | 35,852 | 26,815 | 33,200 | 34,876 | 43,239 | 51,576 | 58,522 | 63,006 | 2,017 | 2,247 | 1,382 | |
22/27 |
38,776 | 53,415 | 14,952 | 17,347 | 28,334 | 35,852 | 26,815 | 33,200 | 34,876 | 43,239 | 51,576 | 58,522 | 63,006 | 2,017 | 2,247 | 1,382 | |
23 |
35,688 | 46,411 | 1,049 | 4,037 | 14,164 | 22,430 | 24,375 | 29,179 | 33,500 | 40,625 | 48,411 | 56,455 | 63,006 | 2,017 | 2,247 | 1,382 | |
24 |
2,461 | 1,855 | 4,232 | 3,457 | 3,085 | 1,106 | 2,440 | 4,021 | 1,376 | 2,614 | 3,165 | 2,067 | - | - | - | - | |
26 |
628 | 5,149 | 9,671 | 9,852 | 11,084 | 12,316 | - | - | - | - | - | - | - | - | - | - | |
29/58 |
62,654 | 86,483 | 96,078 | 74,788 | 107,276 | 48,717 | 50,431 | 27,620 | 48,024 | 53,028 | 29,394 | 52,191 | 35,493 | 41,801 | 53,905 | 30,819 | |
3 |
26,551 | 12,960 | 4,824 | 22,792 | 20,195 | 1,216 | 696 | 5,715 | 535 | 1,704 | - | - | - | - | - | 4,304 | |
30/36 |
- | - | - | - | - | 1,216 | 696 | 815 | - | - | - | - | - | - | - | - | |
37 |
26,551 | 12,960 | 4,824 | 22,792 | 20,195 | - | - | 4,900 | 535 | 1,704 | - | - | - | - | - | 4,304 | |
40/41 |
2,267 | 19,458 | 2,032 | 22,030 | 45,490 | 15,312 | 35,645 | 11,912 | 16,531 | 37,791 | 24,244 | 21,668 | 14,426 | 20,730 | 4,173 | 7,826 | |
40 |
1,843 | 19,444 | 151 | 17,630 | 42,636 | 12,257 | 35,645 | 7,803 | 16,531 | 37,791 | 15,708 | 21,663 | - | 19,374 | 4,173 | 4,880 | |
41 |
424 | 14 | 1,881 | 4,400 | 2,853 | 3,055 | - | 4,110 | - | - | 8,537 | 5 | 14,426 | 1,356 | - | 2,946 | |
54/58 |
25,479 | 43,802 | 78,207 | 20,973 | 31,979 | 27,802 | 7,911 | 6,570 | 30,958 | 12,437 | 3,401 | 29,064 | 20,157 | 20,162 | 48,882 | 18,345 | |
490/1 |
8,356 | 10,263 | 11,016 | 8,993 | 9,613 | 4,387 | 6,178 | 3,423 | - | 1,096 | 1,749 | 1,459 | 910 | 909 | 850 | 344 | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
101,430 | 139,899 | 111,031 | 92,135 | 135,610 | 84,568 | 77,246 | 60,820 | 82,900 | 96,266 | 80,970 | 110,713 | 98,499 | 43,818 | 56,152 | 32,202 | |
10/15 |
41,779 | 58,520 | 69,604 | 70,004 | 63,040 | 37,506 | 35,002 | 36,626 | 30,547 | 3,117 | -1,111 | 37,526 | 28,914 | 32,033 | 33,945 | 23,530 | |
10/11 |
18,600 | 18,600 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | |
13 |
23,179 | 39,920 | 55,804 | 56,204 | 49,240 | 23,706 | 21,202 | 22,826 | 23,726 | 23,726 | 23,726 | 23,726 | 15,114 | 18,233 | 20,145 | 9,730 | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
133 |
23,179 | 39,920 | 55,804 | 56,204 | 49,240 | 23,706 | 19,342 | 20,966 | 21,866 | 21,866 | 21,866 | 21,866 | 13,254 | 16,373 | 18,285 | 7,870 | |
14 |
- | - | - | - | - | - | - | - | -6,979 | -34,409 | -38,638 | - | - | - | - | - | |
17/49 |
59,652 | 81,378 | 41,426 | 22,131 | 72,569 | 47,062 | 42,245 | 24,194 | 52,353 | 93,149 | 82,082 | 73,187 | 69,585 | 11,785 | 22,207 | 8,671 | |
17 |
27,458 | 37,372 | - | - | 3,279 | 6,513 | 9,702 | 12,847 | 15,949 | 32,176 | 49,089 | 40,486 | 53,452 | - | - | - | |
170/4 |
27,458 | 37,372 | - | - | 3,279 | 6,513 | 9,702 | 12,847 | 15,949 | 32,176 | 49,089 | 40,486 | 53,452 | - | - | - | |
42/48 |
32,194 | 44,006 | 41,426 | 22,131 | 69,290 | 40,549 | 32,542 | 11,292 | 36,404 | 60,973 | 32,993 | 31,341 | 15,133 | 10,193 | 21,207 | 7,671 | |
42 |
9,914 | 9,355 | - | 3,279 | 3,234 | 3,189 | 3,145 | 3,102 | 16,227 | 16,818 | 16,398 | 12,966 | 12,524 | - | - | - | |
44 |
10,965 | 24,088 | 29,942 | 9,815 | 43,149 | 8,726 | 21,743 | 5,725 | 14,135 | 42,469 | 13,818 | 5,366 | 1,370 | 9,433 | 10,821 | 3,046 | |
440/4 |
10,965 | 24,088 | 29,942 | 9,815 | 43,149 | 8,726 | 21,743 | 5,725 | 14,135 | 42,469 | 13,818 | 5,366 | 1,370 | 9,433 | 10,821 | 3,046 | |
45 |
6,178 | 7,970 | 10,904 | 2,220 | 12,651 | 15,234 | 7,654 | 2,465 | 6,043 | 1,686 | 2,777 | 13,009 | 1,238 | 761 | 10,386 | 3,118 | |
450/3 |
1,250 | 4,275 | 7,751 | - | 9,868 | 15,234 | 5,101 | 2,465 | 5,210 | 593 | 56 | 10,247 | - | - | 10,296 | 3,118 | |
454/9 |
4,928 | 3,695 | 3,152 | 2,220 | 2,784 | - | 2,552 | - | 833 | 1,093 | 2,722 | 2,762 | 1,238 | 761 | 90 | - | |
47/48 |
5,136 | 2,594 | 581 | 6,817 | 10,256 | 13,399 | - | - | - | - | - | - | - | - | - | 1,508 | |
492/3 |
- | - | - | - | - | - | - | 55 | - | - | - | 1,360 | 1,000 | 1,591 | 1,000 | 1,000 | |
| Income statement | |||||||||||||||||
76A |
6,077 | - | 50,000 | 15,976 | - | 8,875 | 289 | - | - | 415 | - | - | - | - | - | - | |
9900 |
131,888 | 133,947 | 137,103 | 148,676 | 161,917 | 109,208 | 105,906 | 73,817 | 88,859 | 65,804 | 13,518 | 70,627 | 36,967 | 32,839 | 38,616 | 13,691 | |
62 |
128,287 | 130,841 | 129,034 | 129,207 | 113,424 | 95,318 | 94,743 | 54,240 | 53,059 | 50,597 | 40,682 | 47,515 | 31,034 | 33,137 | 22,934 | - | |
630 |
16,987 | 13,997 | 6,882 | 12,557 | 15,281 | 10,051 | 10,418 | 9,073 | 7,297 | 10,057 | 10,143 | 9,568 | 8,135 | 1,701 | 1,211 | 691 | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | 600 | - | - | - | - | |
640/8 |
1,110 | 1,363 | 2,029 | 1,049 | 2,118 | 2,050 | 1,066 | 1,448 | 1,074 | 999 | 1,075 | 1,349 | 756 | 458 | 403 | 149 | |
66A |
- | 3,511 | - | - | 132 | - | - | - | 239 | - | - | - | - | - | - | - | |
9901 |
-14,496 | -15,765 | -841 | 5,864 | 30,962 | 1,790 | -320 | 9,055 | 27,190 | 4,150 | -38,382 | 11,595 | -2,958 | -2,457 | 14,068 | 12,851 | |
75/76B |
1,568 | 3,048 | 3,161 | 3,775 | 2,967 | 2,316 | 1,329 | 1,439 | 2,444 | 2,390 | 2,221 | 2,045 | 827 | 1,182 | 639 | 771 | |
75 |
1,568 | 3,048 | 3,161 | 3,775 | 2,967 | 2,316 | 1,329 | 1,439 | 2,444 | 2,390 | 2,221 | 2,045 | 827 | 1,182 | 639 | 771 | |
65/66B |
3,683 | 3,024 | 1,600 | 1,340 | 1,070 | 1,301 | 2,267 | 1,950 | 2,037 | 2,254 | 2,453 | 2,862 | 988 | 618 | 817 | 773 | |
65 |
3,683 | 3,024 | 1,600 | 1,340 | 1,070 | 1,301 | 2,267 | 1,950 | 2,037 | 2,254 | 2,453 | 2,862 | 988 | 618 | 817 | 773 | |
9903 |
-16,611 | -15,740 | 720 | 8,299 | 32,860 | 2,805 | -1,258 | 8,544 | 27,598 | 4,286 | -38,613 | 10,778 | -3,119 | -1,893 | 13,889 | 12,849 | |
67/77 |
130 | 144 | 1,119 | 1,336 | 7,326 | 301 | 366 | 2,465 | 168 | 57 | 24 | 2,166 | - | 19 | 3,474 | 3,119 | |
9904 |
-16,742 | -15,884 | -399 | 6,963 | 25,534 | 2,504 | -1,624 | 6,079 | 27,430 | 4,229 | -38,638 | 8,612 | -3,119 | -1,912 | 10,415 | 9,730 | |
9905 |
-16,742 | -15,884 | -399 | 6,963 | 25,534 | 2,504 | -1,624 | 6,079 | 27,430 | 4,229 | -38,638 | 8,612 | -3,119 | -1,912 | 10,415 | 9,730 | |
| Appropriation of the result | |||||||||||||||||
9906 |
-16,742 | -15,884 | -399 | 6,963 | 25,534 | 2,504 | -1,624 | -900 | -6,979 | -34,409 | -38,638 | 8,612 | -3,119 | -1,912 | 10,415 | 9,730 | |
791/2 |
16,742 | 15,884 | 399 | - | - | - | 1,624 | 900 | - | - | - | - | 3,119 | 1,912 | - | - | |
691/2 |
- | - | - | 6,963 | 25,534 | 2,504 | - | - | - | - | - | 8,612 | - | - | 10,415 | 9,730 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | - | 6,963 | 25,534 | 2,504 | - | - | - | - | - | 8,612 | - | - | 10,415 | 7,870 | |
| Social balance sheet | |||||||||||||||||
9087 |
2 | 2 | 2 | 2 | 2 | 2 | 2.1 | 1.1 | 1 | 1 | 1 | 1 | 0.8 | 1 | 0.7 | - | |
Hours worked1013 |
2,946 | 2,584 | 2,692 | 3,008 | 2,680 | 2,224 | 2,339 | 1,398 | 1,502 | 1,478 | 1,200 | 1,424 | 864 | 1,328 | 936 | - | |
| Document | |||||||||||||||||
The notes to these accounts have 9 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 18-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-06-2026 | 2026-00185474 | |
| 31-12-2024 | micro format | 26-06-2025 | 2025-00189946 | |
| 31-12-2023 | micro format | 20-06-2024 | 2024-00146447 | |
| 31-12-2022 | micro format | 01-06-2023 | 2023-00104657 | |
| 31-12-2021 | micro format | 05-05-2022 | 2022-20020436 | |
| 31-12-2020 | micro format | 01-06-2021 | 2021-17100380 | |
| 31-12-2019 | micro format | 12-03-2020 | 2020-06500256 | |
| 31-12-2018 | micro format | 04-04-2019 | 2019-09400512 | |
| 31-12-2017 | micro format | 09-03-2018 | 2018-06600527 | |
| 31-12-2016 | micro format | 18-05-2017 | 2017-12700055 | |
| 31-12-2015 | abbreviated format | 02-06-2016 | 2016-15000165 | |
| 31-12-2014 | abbreviated format | 07-04-2015 | 2015-09300228 | |
| 31-12-2013 | abbreviated format | 11-03-2014 | 2014-06500255 | |
| 31-12-2012 | abbreviated format | 17-06-2013 | 2013-18300507 | |
| 31-12-2011 | abbreviated format | 15-05-2012 | 2012-11700406 | |
| 31-12-2010 | abbreviated format | 08-07-2011 | 2011-28000100 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,491 | -1,768 | 6,041 | 18,421 | 46,243 | 11,840 | 10,098 | 18,129 | 34,487 | 14,207 | -28,239 | 21,163 | 5,177 | -756 | 15,279 | 13,543 | ||
| 246 | -1,887 | 6,483 | 19,520 | 40,816 | 12,555 | 8,794 | 15,153 | 34,726 | 14,286 | -28,495 | 18,180 | 5,016 | -211 | 11,626 | 10,421 | ||
| 5,362 | 86,471 | 4,488 | 23,156 | 8,557 | 20,495 | 4,033 | 7,398 | -1,066 | 1,720 | 3,197 | 5,083 | 69,124 | 1,471 | 2,075 | 2,073 | ||
| -18,323 | -34,404 | 57,233 | -11,006 | 4,177 | 19,890 | 1,341 | -24,388 | 18,521 | 9,036 | -25,663 | 8,907 | -5 | -28,720 | 30,537 | - | ||
| 30,460 | 42,477 | 54,652 | 52,657 | 37,986 | 8,168 | 17,889 | 16,329 | 11,620 | -7,945 | -3,599 | 20,850 | 20,360 | 31,608 | 32,699 | 23,148 | ||
| 41.2% | 41.8% | 62.7% | 76.0% | 46.5% | 44.4% | 45.3% | 60.2% | 36.8% | 3.2% | -1.4% | 33.9% | 29.4% | 73.1% | 60.5% | 73.1% | ||
| 1.95 | 1.97 | 2.32 | 3.38 | 1.55 | 1.20 | 1.55 | 2.45 | 1.32 | 0.87 | 0.89 | 1.67 | 2.35 | 4.10 | 2.54 | 4.02 | ||
| 1.12 | 1.67 | 2.20 | 2.35 | 1.26 | 1.17 | 1.53 | 1.94 | 1.30 | 0.84 | 0.89 | 1.67 | 2.35 | 4.10 | 2.54 | 3.46 | ||
| 1.43 | 1.39 | 0.60 | 0.32 | 1.15 | 1.25 | 1.21 | 0.66 | 1.71 | 29.88 | - | 1.95 | 2.41 | 0.37 | 0.65 | 0.37 | ||
| -40.1% | -27.1% | -0.6% | 9.9% | 40.5% | 6.7% | -4.6% | 16.6% | 89.8% | 135.7% | - | 22.9% | -10.8% | -6.0% | 30.7% | 41.4% | ||
| -16.5% | -11.4% | -0.4% | 7.6% | 18.8% | 3.0% | -2.1% | 10.0% | 33.1% | 4.4% | -47.7% | 7.8% | -3.2% | -4.4% | 18.5% | 30.2% | ||
| 0.68 | -0.58 | 3.77 | 13.75 | 43.24 | - | - | - | - | - | - | - | - | - | - | - |
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 | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 | 2 |
| full-time | 2 | 2 | 2 | 2 | 2 |
| part-time | - | - | 0 | - | - |
| in full-time equivalents | 2 | 2 | 2 | 2 | 2 |
| 2 | 2 | 2 | 2 | 2 | |
| On a permanent contract | 2 | 2 | 2 | 2 | 2 |
| Joined | 1 | - | 1 | 1 | 1 |
| Left | 1 | - | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | €50,000 | €50,000 | - | - | - |
| Carrying value of the other pledged assets | €38,776 | €53,415 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,362 | €86,471 | €4,488 | €23,156 | €8,557 |
| €16,987 | €13,997 | €6,882 | €12,557 | €15,281 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €14,496, smaller than the loss of €15,765 in 2024.
Debt's share of the balance-sheet total rises from 58.2% to 58.8%. Equity and debt are lower.
vh construct has no parent and no holdings in its annual accounts. is the only director. vh construct shares no director with another company.
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
| Establishment | Since | Unit number |
|---|---|---|
| Salielaan 1 registered office 2520 Ranst | 01-04-2010 | 2.186.063.759 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11010C0297/00T000 | 653 m² | 1 · 145 m² | 7.3 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 0823.256.519
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