VL-CONSTRUCT
ActiveSummary
VL-CONSTRUCT has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €112,344 and a net result of €2,292. Equity is growing by ~6.7% per year across the filed fiscal years. Its solvency ranks better than 51% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▼-17
Solvency73▼-13
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 2.74 against 7.59 in 2024; short-term debt: 31.9% and cash: 44.5% of total assets), but 51.7% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
48.3%
Return on assets
1%
Age of the figures
9 mo
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
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
158 d early
2023
33 d early
2022
31 d late
2021
33 d early
2020
12 d late
2019
91 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 13 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€112,344▼ 14.1%
2024 · €130,734
Total assets
€232,600▲ 8.3%
2024 · €214,754
Net result
€2,292▼ 90.8%
2024 · €24,788
Working capital
€128,837▼ 14.8%
2024 · €151,218
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
Line20212022202320242025
Operating result€48,893▼ 15.1%-€21-€24,097▼ 117,102%€4,992€14,019▲ 181%
Net result€40,178above the sector's middle half▲ 4.6%€15,057within the sector's middle half▼ 62.5%-€43,052below the sector's middle half€24,788within the sector's middle half€2,292within the sector's middle half▼ 90.8%
Equity€165,316above the sector's middle half▲ 32.1%€180,373above the sector's middle half▲ 9.1%€115,579within the sector's middle half▼ 35.9%€130,734within the sector's middle half▲ 13.1%€112,344within the sector's middle half▼ 14.1%
Total assets€338,770above the sector's middle half▲ 32.0%€261,775within the sector's middle half▼ 22.7%€148,319within the sector's middle half▼ 43.3%€214,754within the sector's middle half▲ 44.8%€232,600within the sector's middle half▲ 8.3%
Debt€173,454▲ 32.0%€81,402▼ 53.1%€32,740▼ 59.8%€84,021▲ 157%€120,256▲ 43.1%
Working capital€135,368▲ 10.6%€126,425▼ 6.6%€75,427▼ 40.3%€151,218▲ 100%€128,837▼ 14.8%
Solvency48.8%within the sector's middle half=68.9%above the sector's middle half▲ 20.1pp77.9%above the sector's middle half▲ 9.0pp60.9%within the sector's middle half▼ 17.1pp48.3%within the sector's middle half▼ 12.6pp
Staff (FTE)2.6▲ 30.0%2.3▼ 11.5%
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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 181% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €232,600
Fixed assets
€29,616 ▼ 27.0%
Current assets
€202,984 ▲ 16.5%
Equity and liabilities €232,600
Equity
€112,344 ▼ 14.1%
Debt
€120,256 ▲ 43.1%
Debt's share of the balance-sheet total rises from 39.1% to 51.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€24,926▲
2024 · €17,706
Cash flow
€13,199▼
2024 · €37,502
Current ratio
2.74▼
2024 · 7.59
Quick ratio
2.54▼
2024 · 7.59
Debt to equity
1.07▲
2024 · 0.64
ROE
2.0%▼
2024 · 19.0%
ROA
1.0%▼
2024 · 11.5%
Interest coverage
3.06▼
2024 · 3.49
Debt ≤ 1 year
€74,148▲
2024 · €22,945
Debt > 1 year
€46,109▲
2024 · €6,086
Income taxes
€4,125▼
2024 · €5,688
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
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 higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 10,905 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €148,273 | €126,303 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,411 | €27,061 | €23,759 | €12,714 | €10,907 | ▼ 14.2% |
| Other operating charges640/8 | €1,106 | €947 | €2,152 | €2,933 | €1,729 | ▼ 41.1% |
| Non-recurring operating charges66A | - | - | €5,191 | - | - | - |
| Gross operating margin9900 | €215,683 | €154,290 | €7,006 | €20,639 | €26,655 | ▲ 29.1% |
| Operating profit (loss)9901 | €48,893 | -€21 | -€24,097 | €4,992 | €14,019 | ▲ 181% |
| Financial income75/76B | €9,838 | €39 | €855 | €30,558 | €543 | ▼ 98.2% |
| Recurring financial income75 | €132 | €39 | €855 | €30,558 | €543 | ▼ 98.2% |
| Non-recurring financial income76B | €9,706 | - | - | - | - | - |
| Financial charges65/66B | €2,240 | €1,955 | €1,310 | €5,074 | €8,146 | ▲ 60.5% |
| Recurring financial charges65 | €2,240 | €1,955 | €1,310 | €5,074 | €8,146 | ▲ 60.5% |
| Profit (loss) for the period before taxes9903 | €56,490 | -€1,937 | -€24,552 | €30,476 | €6,417 | ▼ 78.9% |
| Income taxes67/77 | €16,312 | -€16,994 | €18,500 | €5,688 | €4,125 | ▼ 27.5% |
| Profit (loss) for the period9904 | €40,178 | €15,057 | -€43,052 | €24,788 | €2,292 | ▼ 90.8% |
| Profit (loss) for the period to be appropriated9905 | €40,178 | €15,057 | -€43,052 | €24,788 | €2,292 | ▼ 90.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €338,770 | €261,775 | €148,319 | €214,754 | €232,600 | ▲ 8.3% |
| Fixed assets21/28 | €90,661 | €89,450 | €53,800 | €40,592 | €29,616 | ▼ 27.0% |
| Tangible fixed assets22/27 | €88,161 | €86,950 | €51,300 | €38,092 | €27,116 | ▼ 28.8% |
| Land and buildings22 | €3,201 | €18,617 | €17,716 | €16,814 | €15,913 | ▼ 5.4% |
| Plant, machinery and equipment23 | €348 | - | €2,558 | €2,131 | €1,575 | ▼ 26.1% |
| Furniture and vehicles24 | €29,995 | €24,942 | €9,434 | €4,381 | €1,688 | ▼ 61.5% |
| Leasing and similar rights25 | €52,211 | €41,111 | €19,439 | €12,739 | €6,039 | ▼ 52.6% |
| Other tangible fixed assets26 | €2,406 | €2,280 | €2,153 | €2,026 | €1,900 | ▼ 6.2% |
| Financial fixed assets28 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Current assets29/58 | €248,109 | €172,325 | €94,519 | €174,163 | €202,984 | ▲ 16.5% |
| Amounts receivable after more than one year29 | €35,000 | €35,000 | €21,345 | €27,500 | €7,852 | ▼ 71.4% |
| Other amounts receivable291 | €35,000 | €35,000 | €21,345 | €27,500 | €7,852 | ▼ 71.4% |
| Stocks and contracts in progress3 | €74,483 | - | - | - | €14,354 | - |
| Stocks30/36 | €20,483 | - | - | - | €14,354 | - |
| Contracts in progress37 | €54,000 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €126,874 | €127,109 | €65,803 | €137,381 | €77,252 | ▼ 43.8% |
| Trade receivables40 | €90,857 | €75,308 | €38,801 | €112,381 | €20,838 | ▼ 81.5% |
| Other amounts receivable41 | €36,018 | €51,801 | €27,003 | €25,000 | €56,414 | ▲ 126% |
| Cash at bank and in hand54/58 | €11,433 | €8,889 | €7,371 | €9,282 | €103,526 | ▲ 1,015% |
| Deferred charges and accrued income490/1 | €319 | €1,327 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €338,770 | €261,775 | €148,319 | €214,754 | €232,600 | ▲ 8.3% |
| Equity10/15 | €165,316 | €180,373 | €115,579 | €130,734 | €112,344 | ▼ 14.1% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €145,316 | €160,373 | €125,980 | €116,346 | €95,664 | ▼ 17.8% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | - | - |
| Other1319 | - | - | - | - | €0 | - |
| Distributable reserves133 | €143,316 | €158,373 | €123,980 | €114,346 | €95,664 | ▼ 16.3% |
| Profit (loss) carried forward14 | - | - | -€30,400 | -€5,612 | -€3,321 | ▲ 40.8% |
| Amounts payable17/49 | €173,454 | €81,402 | €32,740 | €84,021 | €120,256 | ▲ 43.1% |
| Amounts payable after more than one year17 | €60,713 | €35,501 | €13,648 | €6,086 | €46,109 | ▲ 658% |
| Financial debts170/4 | €60,713 | €35,501 | €13,648 | €6,086 | €46,109 | ▲ 658% |
| Amounts payable within one year42/48 | €112,741 | €45,901 | €19,091 | €22,945 | €74,148 | ▲ 223% |
| Current portion of amounts payable after more than one year42 | €32,655 | €33,025 | €18,337 | €5,620 | €10,745 | ▲ 91.2% |
| Trade debts44 | €70,721 | €12,063 | €305 | €2,347 | €11,580 | ▲ 393% |
| Suppliers440/4 | €70,721 | €12,063 | €305 | €2,347 | €11,580 | ▲ 393% |
| Advances received on contracts in progress46 | - | - | - | - | €38,662 | - |
| Taxes, remuneration and social security45 | €8,028 | €813 | - | €12,947 | €10,717 | ▼ 17.2% |
| Taxes450/3 | €3,595 | €813 | - | €9,842 | €10,717 | ▲ 8.9% |
| Remuneration and social security454/9 | €4,433 | - | - | €3,105 | €0 | ▼ 100% |
| Other amounts payable47/48 | €1,337 | - | €449 | €2,031 | €2,443 | ▲ 20.3% |
| Accrued charges and deferred income492/3 | - | - | - | €54,990 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €40,178 | €15,057 | -€43,052 | €24,788 | €2,292 | ▼ 90.8% |
| + Depreciation and write-downs630 | €17,411 | €27,061 | €23,759 | €12,714 | €10,907 | ▼ 14.2% |
| Operating cash flow (approximation) | €57,589 | €42,118 | -€19,292 | €37,502 | €13,199 | ▼ 64.8% |
| Investment in fixed assets (approximation) | - | -€25,849 | €11,890 | €494 | €69 | ▼ 86.1% |
| Change in cash | - | -€2,544 | -€1,519 | €1,911 | €94,245 | ▲ 4,832% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €24,788
Net result €24,788 after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€43,052
Net result drops to -€43,052, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €40,178 ▲4.6%
Net result €40,178, the highest in the series.
31-12
Financial
Equity above €150,000Eq €165,316 ▲32.1%
4 profitable years in a row build equity to €165,316.
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
2020
31-12
Financial
Equity above €100,000Eq €125,138 ▲44.3%
3 profitable years in a row build equity to €125,138.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
Show earlier events
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 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, Westerlo · 1 establishment unit since 2014
Ground area
739 m²
Building footprint
291 m²
Volume, LiDAR
1,400 m³
Parcel 13049A0671/00D000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
De Vos Marieke Photography
since 20142.229.020.804
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13049A0671/00D000 | Flanders | 739 m² | 1 · 291 m² | 8.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
50%
According to the 2025 annual accounts of VL-CONSTRUCT and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 3,960 companies in sector 43331 we hold annual accounts for 1,788. 1,531 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
Founded17-03-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
18120Other printing
18130Pre-press and pre-media services
43120Site preparation
43230Insulation installation
43910Bricklaying and masonry work
43990Other specialised construction activities
74120Graphic design and visual communication
74201Photography, excluding press photography
81220Other building cleaning and industrial cleaning
E-invoicing
Reachable via Peppol
Peppol ID
0208:0548770075
Also
9925:BE0548770075
Registered
28-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.