Turnover
≈ €340,000 estimated
The micro format states no turnover.
VS Construct
Overview
Lifetime
4 annual accounts with figures on one time axispeak €146,746 (2022)
€49,262▲ 825%
lowest -€19,524 (2024)
€22,712▲ €42,236
peak €121,976 (2025)
€121,976▲ 22.9%
€16,882▼ 40.7%
Board1 name since 2021
1 directorVECERCOVICI,Silvestru
Documentsfilings and deeds
03-08-20263 days late
2025micro format
Gross margin from €5,326 to €49,262Back to profit: €22,712Equity from €99,264 to €121,976Debts from €28,471 to €16,882Cash from €2,665 to €1,637
Key points
from the 2025 annual accountsFilings
4 annual accounts 4 late
The 2023 accounts came latest: 123 days after the end of the period.
Position in the sector
87.8%
Higher solvency than 93% of companies in construction of buildings. Sector median 42.9% · 9,456 companies.
Checked score
52
Fair
Financially stronger than 71% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.1% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 7.0%highest value
01-2025: 5.7%▼ -1.3 percentage points vs 12-2024
02-2025: 5.6%▼ -0.1 percentage points vs 01-2025
03-2025: 5.6%● unchanged vs 02-2025
04-2025: 5.7%▲ +0.1 percentage points vs 03-2025
05-2025: 5.5%▼ -0.2 percentage points vs 04-2025
06-2025: 5.3%▼ -0.2 percentage points vs 05-2025
07-2025: 5.3%● unchanged vs 06-2025
08-2025: 5.7%▲ +0.4 percentage points vs 07-2025
09-2025: 4.2%▼ -1.5 percentage points vs 08-2025
10-2025: 4.3%▲ +0.1 percentage points vs 09-2025
11-2025: 4.4%▲ +0.1 percentage points vs 10-2025
12-2025: 4.4%● unchanged vs 11-2025
01-2026: 4.4%● unchanged vs 12-2025
02-2026: 4.5%▲ +0.1 percentage points vs 01-2026
03-2026: 4.5%● unchanged vs 02-2026
04-2026: 4.5%● unchanged vs 03-2026
05-2026: 4.4%▼ -0.1 percentage points vs 04-2026
06-2026: 4.5%▲ +0.1 percentage points vs 05-2026
07-2026: 4.4%▼ -0.1 percentage points vs 06-2026
08-2026: 4.9%▲ +0.5 percentage points vs 07-2026
09-2026: 3.1%▼ -1.8 percentage points vs 08-2026lowest value
10-2026: 3.1%● unchanged vs 09-2026lowest value
11-2026: 3.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Size: total assets €138,858
Founded in 2021
Last filed accounts filed 3 days late; 1 of the last 3 accounts late
Calculation
The band follows from the bankruptcy probability. 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 41, micro). It does better than 92% of them on solvency, 52% on liquidity, 74% on profitability and 66% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as VS Construct has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VS Construct itself is higher: 3.1% within 12 months. It rests on far more data about VS Construct than the profile alone.
Test of the method
The method was tested on the 497,447 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 26,972 companies, not a prediction for VS 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.
Credit verdict
Credit of up to €6,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 6.46 (4.56 in 2024), above the usual 1.5. Short-term debt is 12.2% and cash 1.2% of total assets. 12.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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.
Signals
Five signals.
raises risk
raises risk · 2025 accounts filed 3 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 4 filingsDeviation from the deadline
2025
3 days late
2024
8 days late
2023
123 days late
2022
60 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 49 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% 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 3 September (3 of the last 4 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0768504175
Incorporation
Founding capital of €5,000, 100 shares · Founder: VECERCOVICI, Silvestru · Appointment: VECERCOVICI, Silvestru (director) · published on 20-05-2021 · Gazette deed
First establishment
Moriaanstraat 23, Brakel
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VS Construct Brakel | €138,858 | €49,262 | 87.8% | - |
| RENOVABIL Erpe-Mere | €127,632 | €50,087 | 53.1% | - |
| DMR Bouwwerken Sint-Niklaas | €158,210 | €48,042 | 40.5% | - |
| OTIG Zele | €132,131 | €59,780 | 79.4% | - |
| NV DESIGN Lede | €161,297 | €44,189 | 35.4% | - |
| ARMGROUP Wetteren | €116,147 | €49,237 | 79.5% | - |
| PP Decoratie Maldegem | €170,791 | €46,343 | 79.1% | - |
These companies have the same main activity as VS Construct: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €116,000 and €171,000, founded between 2020 and 2021.
Official details
Source: KBO- Status
- Active since 18-05-2021Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 5 others
- Establishment unit
- 2.317.703.0539660 Brakel, since 18-05-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Annual accounts 2025
- €49,262▲ 825%
- €22,712
- €121,976▲ 22.9%
- €138,858▲ 8.7%
- Filing
- Filed on 03-08-2026
Insights on VS Construct
VS Construct files the micro format. That format states no turnover. The gross margin fell from €146,746 in 2022 to €49,262 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 03-08-2026, 3 days late€49,262
▲ 825%
€25,202
▲ €44,129
€22,712
▲ €42,236
€92,119
▲ 30.2%
87.8%
▲ 10.1 percentage points
6.46
▲ 1.89
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 ≈ €340,000. Estimated: probably between €190,000 and €620,000.
Balance sheet
balance sheet total €138,858 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
87.8%
Higher than 94% of 9,456 companies in 2025.
6.46
Higher than 91% of 9,204 companies in 2025.
16.4%
Higher than 70% of 9,276 companies in 2025.
VS Construct
Middle half of the sector
80% of the sector
Micro accounts in construction of buildings (NACE 41)
Net result: middle half · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
138,858 | 127,735 | 178,957 | 216,306 | |
21/28 |
29,857 | 37,125 | 58,485 | 74,059 | |
22/27 |
29,857 | 37,125 | 58,485 | 74,059 | |
23 |
1,872 | 2,596 | 3,319 | 3,523 | |
24 |
27,985 | 34,529 | 55,165 | 70,536 | |
29/58 |
109,000 | 90,610 | 120,472 | 142,246 | |
40/41 |
102,799 | 87,107 | 106,542 | 135,566 | |
40 |
6,730 | 8,521 | 33,609 | 71,400 | |
41 |
96,070 | 78,586 | 72,933 | 64,166 | |
54/58 |
1,637 | 2,665 | 6,506 | 4,585 | |
490/1 |
4,564 | 838 | 7,424 | 2,096 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
138,858 | 127,735 | 178,957 | 216,306 | |
10/15 |
121,976 | 99,264 | 118,787 | 101,100 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | |
14 |
116,976 | 94,264 | 113,787 | 96,100 | |
17/49 |
16,882 | 28,471 | 60,170 | 115,205 | |
17 |
0 | 8,610 | 18,794 | 28,818 | |
170/4 |
0 | 8,610 | 18,794 | 28,818 | |
42/48 |
16,882 | 19,861 | 41,376 | 86,388 | |
42 |
8,610 | 10,184 | 10,024 | 9,867 | |
44 |
6,569 | 3,843 | 4,483 | 50,769 | |
440/4 |
6,569 | 3,843 | 4,483 | 50,769 | |
45 |
1,702 | 5,835 | 26,869 | 25,752 | |
450/3 |
1,702 | 5,835 | 26,869 | 21,544 | |
454/9 |
- | - | 0 | 4,208 | |
| Income statement | |||||
9900 |
49,262 | 5,326 | 48,587 | 146,746 | |
62 |
241 | 555 | 262 | 3,809 | |
630 |
21,032 | 20,711 | 21,267 | 22,044 | |
640/8 |
2,786 | 2,987 | 3,681 | 2,385 | |
9901 |
25,202 | -18,927 | 23,378 | 118,509 | |
75/76B |
74 | 0 | 2 | 0 | |
75 |
74 | 0 | 2 | 0 | |
65/66B |
498 | 556 | 713 | 1,191 | |
65 |
498 | 556 | 713 | 1,191 | |
9903 |
24,778 | -19,483 | 22,667 | 117,318 | |
67/77 |
2,066 | 40 | 4,979 | 21,218 | |
9904 |
22,712 | -19,524 | 17,687 | 96,100 | |
9905 |
22,712 | -19,524 | 17,687 | 96,100 | |
| Appropriation of the result | |||||
9906 |
116,976 | 94,264 | 113,787 | 96,100 | |
14P |
94,264 | 113,787 | 96,100 | - | |
| Document | |||||
The notes to these accounts have 14 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 03-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 3 days after the deadline. Filed on 3 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00374474.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 46,235 | 1,784 | 44,645 | 140,553 | ||
| 43,745 | 1,188 | 38,954 | 118,144 | ||
| 19,842 | -649 | 5,693 | 96,103 | ||
| -1,028 | -3,841 | 1,921 | - | ||
| 92,119 | 70,749 | 79,097 | 55,859 | ||
| 87.8% | 77.7% | 66.4% | 46.7% | ||
| 6.46 | 4.56 | 2.91 | 1.65 | ||
| 0.14 | 0.29 | 0.51 | 1.14 | ||
| 18.6% | -19.7% | 14.9% | 95.1% | ||
| 16.4% | -15.3% | 9.9% | 44.4% | ||
| 92.88 | 3.21 | 62.58 | over 100 |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €19,842 | - | €5,693 | €96,103 |
| Financial fixed assets | €0 | - | - | - |
| €21,032 | €20,711 | €21,267 | €22,044 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on VS Construct
The operating result for 2025 is a profit of €25,202, after a loss of €18,927 in 2024. It is the highest result since 2022.
Debt's share of the balance-sheet total falls from 22.3% to 12.2%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
since 18-05-2021
term for the life of the company
listed in the 2025 annual accounts, filed on 03-08-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “VERTEGENWOORDIGINGSBEVOEGDHEID Elke bestuurder vertegenwoordigt de vennootschap alléén, in en buiten rechte. Evenwel moeten de bestuurders…”deed of 20-05-2021
Mandates through the years
1 name, the dashed line is todayVECERCOVICI,Silvestru
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- VECERCOVICI,Silvestru
- Director (not named in the articles), from 18-05-2021 to date
Control
Capital
- Contribution
- €5,000
- Shares
- 100
- Contribution per share
- €50
- Equity per share
- €1,220 in 2025
- Source
- deed of 20-05-2021
Articles of association
deed of 20-05-2021 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director“Duur van de vennootschap tenzij algemene vergadering anders besluit”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Saturday of June at 16:00
Shareholders
At incorporation
deed of 20-05-2021 ↗
- VECERCOVICI,Silvestru 100 shares (100%) · €5,000
Network & group
No group
VS Construct has no parent and no holdings in its annual accounts. VECERCOVICI,Silvestru is the only director. VS Construct shares no director with another company.
Timeline
Timeline
9 events since 2021Filings
Financial
Establishments
202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 3 days late
2025
Back to profit net €22,712 The net result is €22,712, after one loss-making year.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0768504175
Annual accounts 2024 filed PDFmicro format · 8 days late
2024
Weakest financial year net -€19,524 The net result drops to -€19,524, the lowest from 2022 to 2025. It recovers the following year.
Annual accounts 2023 filed PDFmicro format · 123 days late
2023
Annual accounts 2022 filed PDFmicro format · 60 days late
2021
IncorporationFounding capital of €5,000, 100 shares · Founder: VECERCOVICI, Silvestru · Appointment: VECERCOVICI, Silvestru (director) · published on 20-05-20215 points ▸
- Founder, VECERCOVICI, Silvestru
- Founding capital, €5,000, 100 shares
- VECERCOVICI, Silvestru holds 100 shares (100%)
- Registered office clause, Moriaanstraat 23, 9660 Brakel
- Director appointment, VECERCOVICI, Silvestru (director (not named in the articles))
- The deed holds 2 more points.
First establishment Moriaanstraat 23, Brakel
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
VS Construct was incorporated on 18 May 2021 as a private limited company by one natural person, with a starting capital of €5,000.12 Since 2021, VECERCOVICI,Silvestru has served as director.3 Total assets fell from €216,306 in 2022 to €138,858 in 2025.4
Company details
Identity
- Enterprise number
- 0768.504.175
- VAT number
- BE 0768.504.175
- Peppol ID
- 0208:0768504175
- Other Peppol ID
- 9925:BE0768504175
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 18-05-2021
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Saturday of June at 16:00deed of 20-05-2021 (in Dutch)
- Peppol
- Reachable since 23-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- VS Construct in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 20-05-2021 (in Dutch)
- Name clauseThe company operates under this name according to its articles.
- VS Constructdeed of 20-05-2021 (in Dutch)
Activities
NACEBEL 202541001
General construction of residential buildings main activity
43120
Site preparation
43310
Plastering work
47530
Retail trade
Codes under NACEBEL 2008
41201
General construction of buildings main activity
43120
Site preparation
43299
Specialised construction activities
43310
Plastering work
46130
Wholesale trade
47530
Retail trade
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Het optrekken van de ruwbouw; Het bouwrijp maken van bouwterreinen; Het stukadoorswerk; Het plaatsen van tussenwanden en gipsplaten; De…”deed of 20-05-2021 (in Dutch)
6 activities
- Het optrekken van de ruwbouw
- Het bouwrijp maken van bouwterreinen
- Het stukadoorswerk
- Het plaatsen van tussenwanden en gipsplaten
- De chapewerken
- Het afbreken van bouwterreinen
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Moriaanstraat 23 registered office 9660 Brakel | 18-05-2021 | 2.317.703.053 |
Buildings and parcels at the address
- Ground area
- 1,645 m²
- Buildings
- 96 m²
- Volume, LiDAR
- 720 m³
- Tallest building
- 10.1 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 45028A1480/00K000 | 1,645 m² | 1 · 96 m² | 10.1 m · 2 |
Invoicing and payment
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 0768.504.175