Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Of this, €1.2m falls due within a year.
Less equity than 89% of companies in real estate. Sector median €300,201 · 11,304 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, small). It does better than 11% of them on solvency, 65% on liquidity and 7% on profitability.
The bankruptcy probability was computed on 08-11-2026 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 very low class on 30-06-2025, 0.1% 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).
In July 2024, 1,251 companies had the same profile as WULLOK CONSTRUCT has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WULLOK CONSTRUCT itself: 0.1% within 12 months.
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 1,251 companies, not a prediction for WULLOK 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.
Liquidity is ample, with a current ratio of 1.96, above the usual 1.5. Short-term debt is 50.3% and cash 20.9% of total assets. However, equity is negative.
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 | ||||
|---|---|---|---|---|
| WULLOK CONSTRUCT Blankenberge | €2.4m | -€50,923 | -2.7% | - |
| F&P PROJECTS Antwerp | €2.4m | -€169,548 | 1.6% | - |
| GAROCENTRE 21 Herentals | €2.3m | -€30,533 | -0.9% | - |
| New Schlosser Project Waterloo | €2.2m | -€3,062 | 0.2% | - |
| GREEN GOLF DEVELOPMENT Hasselt | €2.8m | -€52,841 | -2.8% | - |
| KOMET DEVELOPMENT Ghent | €2.0m | -€45,063 | 61.4% | 0 |
| IMMONSTER Duffel | €2.4m | -€95,663 | -0.5% | - |
These companies have the same main activity as WULLOK CONSTRUCT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €2m and €2.8m, founded between 2023 and 2024.
WULLOK CONSTRUCT has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€65,720) and a net result of -€85,720.
Its solvency ranks better than 14% of 11,299 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Higher than 14% of 11,299 companies in 2025.
Higher than 68% of 10,851 companies in 2025.
Higher than 18% of 11,184 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
2.4m | |
21/28 |
36,198 | |
22/27 |
19,306 | |
23 |
13,151 | |
24 |
6,155 | |
28 |
16,892 | |
29/58 |
2.4m | |
3 |
1.8m | |
37 |
1.8m | |
40/41 |
93,170 | |
40 |
35,058 | |
41 |
58,112 | |
54/58 |
506,435 | |
| Balance sheet: equity and liabilities | ||
10/49 |
2.4m | |
10/15 |
-65,720 | |
10/11 |
20,000 | |
14 |
-85,720 | |
17/49 |
2.5m | |
17 |
1.3m | |
170/4 |
1.3m | |
42/48 |
1.2m | |
42 |
1.0m | |
44 |
198,659 | |
440/4 |
198,659 | |
46 |
5,000 | |
45 |
12,075 | |
450/3 |
12,075 | |
47/48 |
7 | |
492/3 |
17,707 | |
| Income statement | ||
9900 |
-50,923 | |
630 |
4,967 | |
640/8 |
358 | |
9901 |
-56,247 | |
75/76B |
0 | |
75 |
0 | |
65/66B |
29,473 | |
65 |
29,473 | |
9903 |
-85,720 | |
9904 |
-85,720 | |
9905 |
-85,720 | |
| Appropriation of the result | ||
9906 |
-85,720 | |
| Document | ||
The notes to these accounts have 12 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 29-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-07-2026 | 2026-00351912 |
| Line | Trend | 2025 |
|---|---|---|
| -51,281 | ||
| -80,753 | ||
| 37,522 | ||
| 1.2m | ||
| -2.7% | ||
| 1.96 | ||
| 0.49 | ||
| -3.5% | ||
| -1.74 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 2025 |
|---|---|
| Tangible fixed assets | €20,630 |
| Financial fixed assets | €16,892 |
| €4,967 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Equity is negative. Debt (€2.5m) exceeds the balance-sheet total (€2.4m).
Source: lists of holdings in the owners' accounts
WULLOK CONSTRUCT has no parent and no holdings in its annual accounts.
| VB Projectbouw
registered office since 09-04-2021 · founded in 2021 |
1.4 FTE (2025) 0766.545.963 |
| WULLOK
registered office since 27-03-2024 · founded in 2024 · negative equity (2025) |
total assets €1.8m (2025) 1007.643.819 |
| Terranova
registered office since 04-06-2019 · founded in 2019 |
total assets €1.5m (2025) 0727.741.213 |
| Vereniging van Mede-eigenaars van Residentie Iguazu te Blankenberge, Karel Deswertlaan 61
registered office since 07-02-2022 |
founded in 2022 0786.744.135 |
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| K. Deswertlaan 61 registered office 8370 Blankenberge | 14-05-2024 | 2.359.344.955 |
| 16-07-2026 | Under review | Bouwen of herbouwen; Nieuwbouw of aanleggen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden project 2026088320 | Blankenberge |
| 17-04-2026 | Granted | Slopen van niet vrijstaande gebouwen of constructies submitted 11-02-2026 · project 2026016026 | Blankenberge |
| 21-03-2025 | Granted | Bouwen of herbouwen; Nieuwbouw of aanleggen; Slopen van niet vrijstaande gebouwen of constructies submitted 13-09-2024 · project 2024124319 | Blankenberge |
| 13-09-2024 | Discontinued | Bouwen of herbouwen; Nieuwbouw of aanleggen; Slopen van niet vrijstaande gebouwen of constructies submitted 21-08-2024 · project 2024113187 | Blankenberge |
| 20-08-2024 | Discontinued | Bouwen of herbouwen; Nieuwbouw of aanleggen; Slopen van niet vrijstaande gebouwen of constructies submitted 23-07-2024 · project 2024101837 | Blankenberge |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31004C0217/00X007 | 318 m² | 1 · 201 m² | 19.6 m |
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 1009.350.821
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