Equity
€247,319 ▲ 73.4%
ZUGRAY CONSTRUCT has made a profit without a break since 2020.
ZUGRAY CONSTRUCT
Lifetime
16 annual accounts with figures on one time axispeak €114,361 (2025)
€114,361▲ 534%
lowest -€3,091 (2019)
€104,717▲ 666%
peak €247,319 (2025)
€247,319▲ 73.4%
€180,218▲ 107%
Board1 name since 2022
1 directorCORETCHI Sergiu
Documentsfilings and deeds
30-01-20261 day before the deadline
2025financial year
Gross margin from €18,028 to €114,361Result from €13,679 to €104,717Equity from €142,602 to €247,319Debts from €87,262 to €180,218Investments €19,673Cash from €47,776 to €118,508
Key points
from the 2025 annual accountsResult
€104,717 ▲ 666%
The result rose in 2025 from €13,679 to €104,717.
Turnover
≈ €530,000 estimated
The accounts state no turnover.
Debts
€180,218 ▲ 107%
Debts rose by €92,956 in 2025.
Investments
€22,708 17.0 × depreciation
Green is investment, beige is depreciation.
Filings
16 annual accounts since 2009
Six of the last ten came late. The 2019 accounts came latest: 489 days after the end of the period.
Checked score
91
Excellent
Financially stronger than 75% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 5.3%highest value
01-2025: 2.7%▼ -2.6 percentage points vs 12-2024
02-2025: 3.2%▲ +0.5 percentage points vs 01-2025
03-2025: 3.5%▲ +0.3 percentage points vs 02-2025
04-2025: 0.4%▼ -3.1 percentage points vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.3%▼ -0.1 percentage points vs 11-2025
01-2026: 0.4%▲ +0.1 percentage points vs 12-2025
02-2026: 0.5%▲ +0.1 percentage points vs 01-2026
03-2026: 0.2%▼ -0.3 percentage points vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026lowest value
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
2 of the last 3 accounts late
Sector: Specialised construction activities (NACE 43)
lowers risk
Liquidity: current ratio 2.25, cash €118,508
Founded in 2008
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 43, micro). It does better than 63% of them on solvency, 63% on liquidity, 85% on profitability and 88% 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 30-06-2025.
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).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as ZUGRAY CONSTRUCT has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of ZUGRAY CONSTRUCT itself: 0.2% within 12 months.
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 34,693 companies, not a prediction for ZUGRAY 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 €22,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.25 (2.79 in 2024), above the usual 1.5. Short-term debt is 42.2% and cash 27.7% of total assets. 42.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 day early
2024
35 days late
2023
401 days late
2022
on the day
2020
123 days late
2019
489 days late
2018
27 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 153 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 7 March (4 of the last 5 accounts filed within 88 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end10-11-2026 today31-01-2027 deadline
Recent changes
Dissolution of the company
Dissolved, in liquidation · Gazette deed
Judicial dissolution, liquidator appointed
French-language Enterprise Court of Brussels · C. Baudoux · judgment of 15-01-2026 · Bankruptcy
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0898456263
Change of role: CORETCHI Sergiu, from manager to director
“L’exploitation d’un institut de beauté; Les soins de corps et de visage,l’épilation,le massage non…” (deed in French) · Director discharge: CORETCHI Sergiu (manager) · General meeting of 21-10-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ZUGRAY CONSTRUCT Woluwe-Saint-Pierre | - | - | 57.8% | - |
| FAVORIT CONSTRUCT Sint-Gillis (bij-Brussel) | €888,529 | 5.8% | 44.6% | - |
| AMIS CONSTRUCT Anderlecht | €302,457 | 33.1% | 60.8% | - |
| FIRST CONSTRUCT Sint-Gillis (bij-Brussel) | - | - | 58.6% | - |
| W-CONSTRUCT Anderlecht | - | - | 83.7% | - |
| BORN TO BUILD Brussels | - | - | 21.1% | - |
| VZ Uccle | - | - | 76.7% | - |
These companies have the same main activity as ZUGRAY CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €395,000 and €438,000, founded between 2005 and 2008.
Official details
Source: KBO- Status
- Active since 10-06-2008Normal situation
- Activity
- Other specialised construction activitiesNACE 43990and 1 other
- Establishment unit
- 2.172.208.1021150 Woluwe-Saint-Pierre, since 01-08-2008
- Financial year end
- 30 June
- Peppol
- Reachable since 29-12-2025
Annual accounts to 30-06-2025
- €427,537▲ 73.5%
- Filing
- Filed on 30-01-2026, 1 day before the end of the filing period
Insights on ZUGRAY CONSTRUCT
ZUGRAY CONSTRUCT has existed since 2008. The gross margin grew from €18,614 in 2009 to €114,361 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ZUGRAY CONSTRUCT
- What is the company number of ZUGRAY CONSTRUCT?
- The company number of ZUGRAY CONSTRUCT is 0898.456.263. The VAT number is the same number with BE in front: BE 0898.456.263.
- Where is ZUGRAY CONSTRUCT based?
- The registered office is at Nijvelsedreef 170, 1150 Woluwe-Saint-Pierre.Company details
- What does ZUGRAY CONSTRUCT do?
- According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
- What is the legal form of ZUGRAY CONSTRUCT?
- ZUGRAY CONSTRUCT is a private limited company (BV).
- When was ZUGRAY CONSTRUCT founded?
- ZUGRAY CONSTRUCT was founded on 10-06-2008.
- Is ZUGRAY CONSTRUCT still active?
- Yes, ZUGRAY CONSTRUCT is an active enterprise in the KBO register.
- What is the turnover of ZUGRAY CONSTRUCT?
- The turnover in financial year 2025 is ≈ €530,000. This figure is estimated from the gross margin of €114,361 and 69 comparable companies (NACE 43990). It probably lies between €330,000 and €860,000.Financials
- Is ZUGRAY CONSTRUCT profitable?
- In financial year 2025, ZUGRAY CONSTRUCT made a profit of €104,717.
- Where can I find the annual accounts of ZUGRAY CONSTRUCT?
- ZUGRAY CONSTRUCT filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ZUGRAY CONSTRUCT due?
- ZUGRAY CONSTRUCT must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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