X CONSTRUCT
ActiveSummary
X CONSTRUCT has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €245,571. Equity is growing by about 73% per year across the filed financial years. Its solvency ranks better than 95% of 17,046 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €1.3m
- Profit
- €245,571
- BEYLS Carlos Jozef Cyriel MadeleineDirector
- VELGHE Chris Leon JoëlDirector
Why 95raises riskLiquidity: cash €11,919lowers riskSize: total assets €1.3mFigures for financial year 2025 (filed 23-06-2026)Sector: Real estate activities (NACE 68)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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, micro): better than 91% on solvency, 6% on liquidity, 81% on profitability and 77% on growth.
The bankruptcy probability was computed on 26-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 13 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Equity above €1mequity €1.1m ▲12.1%
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 110% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 6,782 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 96.7% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 6,782 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €566 | €659 | €499 | €1,222 | €1,126 | ▼ 7.8% |
| Gross operating margin9900 | -€408 | -€9,857 | -€6,643 | -€328 | €785,744 | €521,185 | €158,882 | €331,478 | ▲ 109% |
| Operating profit (loss)9901 | -€1,208 | -€10,311 | -€7,099 | -€894 | €785,085 | €520,686 | €157,660 | €330,351 | ▲ 110% |
| Recurring financial income75 | €2 | - | - | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €1,196 | €3,317 | €1,202 | €1,199 | €1,286 | ▲ 7.2% |
| Recurring financial charges65 | €39 | €1,429 | €14,587 | €1,196 | €3,317 | €1,202 | €1,199 | €1,286 | ▲ 7.2% |
| Profit (loss) for the period before taxes9903 | -€1,245 | -€11,740 | -€21,686 | -€2,090 | €781,768 | €519,484 | €156,461 | €329,065 | ▲ 110% |
| Income taxes67/77 | - | - | - | - | €191,429 | €127,902 | €39,565 | €83,494 | ▲ 111% |
| Profit (loss) for the period9904 | -€1,245 | -€11,740 | -€21,686 | -€2,090 | €590,339 | €391,582 | €116,895 | €245,571 | ▲ 110% |
| Profit (loss) for the period to be appropriated9905 | -€1,245 | -€11,740 | -€21,686 | -€2,090 | €590,339 | €391,582 | €116,895 | €245,571 | ▲ 110% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.1m | €0.7m | €0.7m | €0.7m | €0.9m | €1.3m | €1.2m | €1.3m | ▲ 8.4% |
| Current assets29/58 | €0.1m | €0.7m | €0.7m | €0.7m | €0.9m | €1.3m | €1.2m | €1.3m | ▲ 8.4% |
| Stocks and contracts in progress3 | €0.1m | €0.7m | €0.7m | €0.7m | €0.4m | €0.1m | €0.08m | €0.06m | ▼ 28.6% |
| Stocks30/36 | - | - | - | €0.7m | €0.4m | €0.1m | €0.08m | €0.06m | ▼ 28.6% |
| Amounts receivable within one year40/41 | €0.007m | - | €0.03m | €0.001m | €0.5m | €1.1m | €1.1m | €1.3m | ▲ 10.1% |
| Trade receivables40 | - | - | - | - | €0.07m | €196 | - | - | - |
| Other amounts receivable41 | - | - | - | €0.001m | €0.5m | €1.1m | €1.1m | €1.3m | ▲ 10.1% |
| Cash at bank and in hand54/58 | €0.001m | €0.02m | €0.002m | €0.001m | €0.03m | €0.02m | €0.001m | €0.01m | ▲ 881% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.1m | €0.7m | €0.7m | €0.7m | €0.9m | €1.3m | €1.2m | €1.3m | ▲ 8.4% |
| Equity10/15 | €0.005m | -€0.007m | -€0.03m | -€0.03m | €0.6m | €1.0m | €1.1m | €1.3m | ▲ 22.7% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | - | - | - | - | €0.6m | €0.9m | €1.1m | €1.3m | ▲ 23.1% |
| Distributable reserves133 | - | - | - | - | €0.6m | €0.9m | €1.1m | €1.3m | ▲ 23.1% |
| Profit (loss) carried forward14 | -€0.001m | -€0.01m | -€0.03m | -€0.04m | - | - | - | - | - |
| Amounts payable17/49 | €0.1m | €0.7m | €0.7m | €0.7m | €0.4m | €0.3m | €0.1m | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.7m | €0.7m | €0.7m | €0.4m | €0.3m | €0.1m | - | - |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.1m | €0.1m | - | - | - |
| Trade debts44 | - | €0.05m | €0.05m | €0.05m | €0.05m | €115 | - | - | - |
| Suppliers440/4 | - | - | - | €0.05m | €0.05m | €115 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €0.02m | - | - | - | - |
| Taxes450/3 | - | - | - | - | €0.02m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.1m | €0.1m | €0.1m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,245 | -€11,740 | -€21,686 | -€2,090 | €590,339 | €391,582 | €116,895 | €245,571 | ▲ 110% |
| Operating cash flow (approximation) | -€1,245 | -€11,740 | -€21,686 | -€2,090 | €590,339 | €391,582 | €116,895 | €245,571 | ▲ 110% |
| Change in cash | - | €15,323 | -€15,140 | -€908 | €27,536 | -€10,926 | -€16,145 | €10,704 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 23-06-2026 | 2026-00186044 |
| 31-12-2024 | micro format | 14-07-2025 | 2025-00263736 |
| 31-12-2023 | micro format | 09-07-2024 | 2024-00225233 |
| 31-12-2022 | micro format | 14-07-2023 | 2023-00239487 |
| 31-12-2021 | micro format | 18-07-2022 | 2022-20201662 |
| 31-12-2020 | micro format | 19-07-2021 | 2021-37000266 |
| 31-12-2019 | micro format | 26-08-2020 | 2020-44900265 |
| 31-12-2018 | micro format | 26-08-2019 | 2019-50600345 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BEYLS Carlos Jozef Cyriel Madeleine |
|
| VELGHE Chris Leon Joël |
|
Owners and capital
Capital and shareholders
- 20-10-2023 Converted to unavailable equity · €18,600
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
20-10
Gazette deed
Resignation: VELGHE Chris Leon Joël (director)Reappointment: VELGHE Chris Leon Joël (statutory director) · Appointments: BEYLS Carlos Jozef Cyriel Madeleine (opvolgend statutair bestuurder) and VELGHE Chris Leon Joël (statutory director) · Amendment of the articles16 facts ▸
- General meeting, “buitengewone algemene vergadering van de aandeelhouders, RPR Gent afdeling Kortrijk” (deed in Dutch)
- Amendment of the articles (3 times)
- Legal form clause, “van rechtswege aangenomen die het dichtst aansluit bij bestaande vorm, inwerkingtreding van de dwingende bepalingen van het WVV” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing van de aangelegde statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
- Other provision, “uitkeringen:netto-actieftest en liquiditeitstest, ingeval van uitkeringen aan de aandeelhouder(s)” (deed in Dutch)
- Transfer restriction, “herformulering van de overdrachtsbeperkingen”, 10 (deed in Dutch)
- Director resignation, VELGHE Chris Leon Joël (director (not named in the articles))
- Director reappointment, VELGHE Chris Leon Joël (statutory director)
- Director discharge, VELGHE Chris Leon Joël
- Director appointment, BEYLS Carlos Jozef Cyriel Madeleine (opvolgend statutair bestuurder)
- Director appointment, VELGHE Chris Leon Joël (statutory director)
- +4 further facts in this act
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0673.478.918
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34009A0276/00D004 | Flanders | 327 m² | 1 · 121 m² | 11.1 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- X CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, bij enkel besluit van het bestuursorgaan administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Één of meer bestuurders,natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, bij gebrek aan bepaling van de duurtijd,mandaat…” (deed in Dutch)“Interne bestuursbevoegdheid, behalve wet of statuten aan algemene vergadering voorbehouden” (deed in Dutch)“Vergoeding bestuurders, algemene kosten los van representatie- reis- en verplaatsingskosten” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of June at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Op elk moment, beslissing algemene vergadering in vormen vereist voor statutenwijziging” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Ontbinding om welke reden en op welk ogenblik ook, recht algemene vergadering een of meerdere vereffenaars aan te duiden bevoegdheden te…” (deed in Dutch)