VLAD CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of VLAD CONSTRUCT is 1.6% (moderate). The 2025 annual accounts show equity of €34,935 and a net result of €5,279. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 22% of 2062 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability61▲+1
Solvency47▲+9
Growth83▼-2
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 1.79 against 1.03 in 2024; short-term debt: 30.5% and cash: 39% of total assets), but 78.4% 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
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 · 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
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
21.6%
Return on assets
3.3%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 2062 sector peers (2025).
NBB · sector comparisonPosition among 2062 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-04-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
1 d early
2023
on the day
2022
on the day
2021
30 d late
2020
5 d late
2019
1 d 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 1 day 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 (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€910,315▲ 8.0%
2024 · €842,910
EBIT margin
1.9%▼ 0.7pp
2024 · 2.6%
Net result
€5,279▼ 26.7%
2024 · €7,202
Working capital
€38,958▲ 802%
2024 · €4,318
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
Turnover€572,555▼ 26.7%€326,467▼ 43.0%€526,334▲ 61.2%€842,910▲ 60.1%€910,315▲ 8.0%
Operating result€13,718€7,415▼ 45.9%€12,313▲ 66.0%€21,828▲ 77.3%€17,135▼ 21.5%
Net result€3,632within the sector's middle half€271below the sector's middle half▼ 92.5%€4,033within the sector's middle half▲ 1,386%€7,202within the sector's middle half▲ 78.6%€5,279within the sector's middle half▼ 26.7%
EBIT margin2.4%▲ 4.1pp2.3%▼ 0.1pp2.3%▲ 0.1pp2.6%▲ 0.3pp1.9%▼ 0.7pp
Equity€18,150below the sector's middle half▲ 25.0%€18,421below the sector's middle half▲ 1.5%€22,454below the sector's middle half▲ 21.9%€29,656below the sector's middle half▲ 32.1%€34,935below the sector's middle half▲ 17.8%
Total assets€173,715below the sector's middle half▼ 32.2%€96,263below the sector's middle half▼ 44.6%€116,029below the sector's middle half▲ 20.5%€231,196below the sector's middle half▲ 99.3%€161,445below the sector's middle half▼ 30.2%
Debt€155,565▼ 35.6%€77,842▼ 50.0%€93,575▲ 20.2%€201,540▲ 115%€126,511▼ 37.2%
Working capital€8,266▼ 10.4%€20,266▲ 145%€10,080▼ 50.3%€4,318▼ 57.2%€38,958▲ 802%
Solvency10.4%below the sector's middle half▲ 4.8pp19.1%below the sector's middle half▲ 8.7pp19.4%below the sector's middle half▲ 0.2pp12.8%below the sector's middle half▼ 6.5pp21.6%below the sector's middle half▲ 8.8pp
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.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 21% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €161,445
Fixed assets
€73,314 ▼ 19.4%
Current assets
€88,131 ▼ 37.1%
Equity and liabilities €161,445
Equity
€34,935 ▲ 17.8%
Debt
€126,511 ▼ 37.2%
Debt's share of the balance-sheet total falls from 87.2% to 78.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€38,262▲
2024 · €28,055
Cash flow
€26,406▲
2024 · €13,428
Current ratio
1.79▲
2024 · 1.03
Debt to equity
3.62▼
2024 · 6.80
ROE
15.1%▼
2024 · 24.3%
ROA
3.3%▲
2024 · 3.1%
Interest coverage
6.63▼
2024 · 9.41
Debt ≤ 1 year
€49,173▼
2024 · €135,870
Debt > 1 year
€77,337▲
2024 · €65,670
Income taxes
€6,089▼
2024 · €11,668
Staff costs
€1,303▼
2024 · €1,832
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,504 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
1.6%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.6% 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 4,504 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €572,555 | €326,467 | €526,334 | €842,910 | €910,315 | ▲ 8.0% |
| Goods, raw materials, services and sundry goods60/61 | €541,319 | €303,334 | €505,351 | €804,300 | €878,146 | ▲ 9.2% |
| Remuneration, social security and pensions62 | €523 | €1,190 | €1,361 | €1,832 | €1,303 | ▼ 28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,093 | €15,311 | €9,490 | €6,227 | €21,127 | ▲ 239% |
| Other operating charges640/8 | €5,792 | €4,644 | €4,603 | €12,653 | €4,130 | ▼ 67.4% |
| Gross operating margin9900 | €37,126 | €28,561 | €27,766 | €42,539 | €43,695 | ▲ 2.7% |
| Operating profit (loss)9901 | €13,718 | €7,415 | €12,313 | €21,828 | €17,135 | ▼ 21.5% |
| Financial income75/76B | €18 | €0 | €0 | €25 | €3 | ▼ 87.6% |
| Recurring financial income75 | €18 | €0 | €0 | €25 | €3 | ▼ 87.6% |
| Financial charges65/66B | €3,533 | €3,967 | €1,767 | €2,983 | €5,770 | ▲ 93.4% |
| Recurring financial charges65 | €3,533 | €3,967 | €1,767 | €2,983 | €5,770 | ▲ 93.4% |
| Profit (loss) for the period before taxes9903 | €10,202 | €3,448 | €10,546 | €18,870 | €11,368 | ▼ 39.8% |
| Income taxes67/77 | €6,570 | €3,177 | €6,513 | €11,668 | €6,089 | ▼ 47.8% |
| Profit (loss) for the period9904 | €3,632 | €271 | €4,033 | €7,202 | €5,279 | ▼ 26.7% |
| Profit (loss) for the period to be appropriated9905 | €3,632 | €271 | €4,033 | €7,202 | €5,279 | ▼ 26.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €173,715 | €96,263 | €116,029 | €231,196 | €161,445 | ▼ 30.2% |
| Fixed assets21/28 | €30,647 | €6,749 | €23,479 | €91,008 | €73,314 | ▼ 19.4% |
| Tangible fixed assets22/27 | €30,538 | €6,640 | €23,370 | €90,899 | €73,205 | ▼ 19.5% |
| Plant, machinery and equipment23 | €0 | - | - | - | €2,822 | - |
| Furniture and vehicles24 | €21,038 | €6,640 | €23,370 | €90,899 | €70,383 | ▼ 22.6% |
| Leasing and similar rights25 | €9,500 | - | - | - | - | - |
| Financial fixed assets28 | €109 | €109 | €109 | €109 | €109 | = |
| Current assets29/58 | €143,068 | €89,514 | €92,550 | €140,187 | €88,131 | ▼ 37.1% |
| Amounts receivable within one year40/41 | €124,911 | €40,876 | €27,964 | €85,869 | €25,147 | ▼ 70.7% |
| Trade receivables40 | €124,773 | €34,721 | €20,778 | €84,809 | €25,147 | ▼ 70.3% |
| Other amounts receivable41 | €138 | €6,155 | €7,186 | €1,060 | - | - |
| Cash at bank and in hand54/58 | €15,875 | €3,400 | €963 | €39,203 | €62,984 | ▲ 60.7% |
| Deferred charges and accrued income490/1 | €2,282 | €45,238 | €63,622 | €15,116 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €173,715 | €96,263 | €116,029 | €231,196 | €161,445 | ▼ 30.2% |
| Equity10/15 | €18,150 | €18,421 | €22,454 | €29,656 | €34,935 | ▲ 17.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | €12,400 | €12,400 | - | - | - | - |
| Outside capital11 | - | - | €6,200 | €6,200 | €6,200 | = |
| Other1109/19 | - | - | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €10,090 | €10,361 | €14,394 | €21,596 | €26,875 | ▲ 24.4% |
| Amounts payable17/49 | €155,565 | €77,842 | €93,575 | €201,540 | €126,511 | ▼ 37.2% |
| Amounts payable after more than one year17 | €20,763 | €8,594 | €11,105 | €65,670 | €77,337 | ▲ 17.8% |
| Financial debts170/4 | €20,763 | €8,594 | €11,105 | €65,670 | €77,337 | ▲ 17.8% |
| Amounts payable within one year42/48 | €134,802 | €69,248 | €82,470 | €135,870 | €49,173 | ▼ 63.8% |
| Current portion of amounts payable after more than one year42 | €14,086 | €11,880 | €8,496 | €23,361 | €29,833 | ▲ 27.7% |
| Trade debts44 | €105,608 | €55,708 | €64,791 | €93,788 | €12,374 | ▼ 86.8% |
| Suppliers440/4 | €2,822 | €1,527 | €841 | €18,900 | €9,579 | ▼ 49.3% |
| Bills of exchange payable441 | €102,786 | €54,181 | €63,950 | €74,887 | €2,795 | ▼ 96.3% |
| Advances received on contracts in progress46 | €6,000 | - | - | - | €213 | - |
| Taxes, remuneration and social security45 | €9,108 | €1,660 | €9,183 | €16,021 | €6,753 | ▼ 57.8% |
| Taxes450/3 | €7,195 | €560 | €3,980 | €9,194 | €5,384 | ▼ 41.4% |
| Remuneration and social security454/9 | €1,913 | €1,100 | €5,203 | €6,828 | €1,370 | ▼ 79.9% |
| Other amounts payable47/48 | - | - | - | €2,700 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,632 | €271 | €4,033 | €7,202 | €5,279 | ▼ 26.7% |
| + Depreciation and write-downs630 | €17,093 | €15,311 | €9,490 | €6,227 | €21,127 | ▲ 239% |
| Operating cash flow (approximation) | €20,725 | €15,582 | €13,522 | €13,428 | €26,406 | ▲ 96.6% |
| Investment in fixed assets (approximation) | - | €8,587 | -€26,220 | -€73,756 | -€3,433 | ▲ 95.3% |
| Change in cash | - | -€12,475 | -€2,437 | €38,239 | €23,781 | ▼ 37.8% |
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
01-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-09
Financial
Highest result since 2018net €7,202 ▲78.6%
Operating result €21,828, net result €7,202, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
30-09
Financial
Back to profitnet €3,632
Net result €3,632 after one loss-making year.
05-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 5 days late
2020
30-09
Financial
Weakest financial yearnet -€17,242
Net result drops to -€17,242, the lowest in the series; recovery starts the following year.
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-09
Financial
Back to profitnet €2,810
Net result €2,810 after one loss-making year.
06-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-03
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
14-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Jette · 1 establishment unit since 2013
Ground area
169 m²
Building footprint
101 m²
Volume, LiDAR
930 m³
Parcel 21464D0104/00T002, Brussels · tallest building 13.3 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Odon Warlandlaan 230, 1090 Jette
since 20132.220.161.536
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21464D0104/00T002 | Brussels | 169 m² | 1 · 101 m² | 13.3 m · 4 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.
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,423. 5,814 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
Founded21-03-2013
Fiscal year end30-09
Activities, NACEBEL 2025
43990Other specialised construction activities
53200Other postal and courier activities
81220Other building cleaning and industrial cleaning
E-invoicing
Reachable via Peppol
Peppol ID
0208:0524740603
Also
9925:BE0524740603
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.