Specialised construction activities
Filed accounts
NACE 43223 · financial year 2025 · 117 filed annual accounts| Per financial year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Median solvency | 36.4% | 26.3% | 31.0% | 31.7% | 32.3% | 40.0% |
| Median net result | €21,705 | €11,434 | €17,971 | €11,734 | €9,375 | €12,062 |
Hold your customer's or competitor's figures against them in the Sector benchmark
Bankruptcies
Recent bankruptcies
| Date | Company |
|---|---|
| 19-10-2026 | STOCKER INDUSTRIE
BE 0430.092.456 |
| 09-02-2026 | D.R. Group BE
BE 0779.286.914 |
| 15-01-2026 | Vandamme, Raphaël
BE 0556.807.912 · sole trader · Sombreffe |
| 07-10-2024 | ART'UBAGE
BE 0442.747.590 |
| 27-12-2023 | D'herckers, Wim
BE 0697.870.557 · sole trader · Ghent |
| 13-06-2022 | Deré, Brian
BE 0759.522.767 · sole trader · Langemark-Poelkapelle |
Spread across the country
by region and province · 229 of 529 enterprises with a registered office on file · a sole trader has no published seat- Flanders
- Wallonia
- Brussels
- Abroad
The balance sheets of division 43 on the map, by municipality and down to the address
Largest employers
NACE 43223 as first main activity · staff from the latest accounts- 1 StûvProfondeville 96.2 FTEfinancial year 2025
- 2 DE PUYDTEvergem 21.4 FTEfinancial year 2025
- 3 UNIFIRE SERVICEOudenaarde 16.0 FTEfinancial year 2025
- 4 VAN RAEMDONCKWaasmunster 15.2 FTEfinancial year 2025
- 5 SIERSCHOUWEN VAN DAMMEGhent 13.8 FTEfinancial year 2025
Joint committees
from the latest accounts of 40 companies- 124 Construction 26
- 200 Auxiliary committee for white-collar workers 24
- 149.04 Metal trade 5
- 111 Metal, mechanical and electrical engineering 3
- 201 Independent retail 2
- 209 White-collar workers in metal manufacturing 2
- 112 Garages 1
- 121 Cleaning 1
Show the 5 others
- 126 Furnishing and woodworking 1
- 140.03 Road transport and logistics for third parties 1
- 226 White-collar workers in international trade, transport and logistics 1
- 307 Insurance brokers and agencies 1
- 310 Banks 1
Source: the annual accounts at the National Bank. One filing can name more than one committee.
Division 43: Specialised construction
Related activities
8 other activities| Activity | Registrations | Starters, 12 months | Bankruptcies, 12 months | FTE |
|---|---|---|---|---|
| General electrical installation work43211 | 22,601 | 1,904 | 192 | 20,612 |
| Installation of electric heating, air conditioning, cooling and ventilation43222 | 9,487 | 562 | 74 | 11,721 |
| Plumbing work43221 | 7,010 | 653 | 72 | 3,128 |
| Insulation installation43230 | 4,219 | 591 | 43 | 2,508 |
| Other construction installation43240 | 4,013 | 377 | 50 | 4,725 |
| Electrical installation work in industrial facilities43212 | 1,099 | 61 | 14 | 1,051 |
Show all 8 activities
| Activity | Registrations | Starters, 12 months | Bankruptcies, 12 months | FTE |
|---|---|---|---|---|
| Specialised construction activities43213 | 242 | 94 | 2 | 1 |
| Specialised construction activities43214 | 81 | 27 | 0 | 15 |
Bankruptcies per year in division 43
| Per year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bankruptcies | 1,238 | 1,118 | 1,196 | 1,285 | 1,406 | 957 | 996 | 1,374 | 1,496 | 1,820 | 1,847 | 1,294 |
| Jobs lost | 2,977 | 2,516 | 2,616 | 2,709 | 2,807 | 2,317 | 1,934 | 2,541 | 2,672 | 3,365 | 3,379 | 2,180 |
2026 through September. Every bankruptcy, also of companies that have since left the register. Source: Statbel (Directorate-General Statistics), NACE classification of 2008.
Staff cost per FTE in NACE division 43
6,825 employers| Size | Median | Middle half | Employers |
|---|---|---|---|
| fewer than 10 FTE | €59,800 | €50,700 to €68,200 | 4,513 |
| 10 to 49 FTE | €64,000 | €55,800 to €71,500 | 2,079 |
| 50 to 249 FTE | €70,100 | €61,100 to €77,700 | 204 |
| 250 FTE or more | €77,000 | €70,500 to €82,400 | 29 |
Employers with the highest staff cost per FTE in this division All sectors by staff cost In the Analysis workbench
Running bankruptcies in the sector
NACE division 43Measured nationally: Of 108,651 bankruptcies of legal entities across Belgium, 49% were closed within five years for insufficient assets and 28% after liquidation, 3% were withdrawn. After five years, 20% were still open. Half had ended after 26 months (a quarter after 15, three quarters after 51 months).
This counts companies with this main activity in the register on 10 November 2026. The outcome itself is not measured by sector. The activity of a company that leaves the register after its bankruptcy is too often not kept to compare closed cases fairly.
52 of the 67,053 companies in NACE division 43 have a parent company abroad. Main parent countries: Netherlands (18), France (9) and Germany (8). Together they employ 3,749 of the division's 101,515 FTE: 3.7%, against 14% for Belgium as a whole.
Subsidies in this sector
per register · legal entities with an enterprise number- Flemish subsidies €112.7m awarded
- Wallonia-Brussels Federation €933,621 paid
- Federal transfers 15.2m amount as published
- EU budget €97.9m attributed share
- EU research €10.3m EU contribution
Insights on Specialised construction activities
Balance sheet and result. The median net result of €12,062 is below Belgium's €16,490. Solvency of 40.0% is below Belgium's 46.1%.
Bankruptcies. The median bankruptcy probability of 1.0% is above Belgium's 0.2%.
Inflow and structure. In 12 months, 38.9 of 100 companies started, against 8.9 in Belgium. No NACE division counts more. Half of the companies are younger than 1.4 years, against 8.1 years in Belgium. Wallonia holds 39.5% of the seats, against 22.7% in Belgium.
Staff and filing. 42.6% of the financial year 2024 accounts were filed late, against 38.4% in Belgium. The 5 largest employers hold 163 of the 209 FTE: 77.9%.
Direction. Median solvency rose from 36.4% in financial year 2020 to 40.0% in financial year 2025. The median net result fell from €21,705 in financial year 2020 to €12,062 in financial year 2025.
The comparison with Belgium as a whole and with the other divisions is as of 11-11-2026 05:30.
Method and sources
Every company registered today counts under its main activities in the KBO. Establishment units do not count. Staff counts once, under the employer's first main activity, from its latest accounts and only where it fits the staff costs. The count follows the NACE 2025 classification, the version in which code 43223 exists.
The bankruptcies over five years count only companies still registered today, because the activity of a company that left the register is not kept. So they are fewer than the bankruptcies of those years, and the figure is not a probability for the future. Over twelve months the count is nearly complete, because a bankrupt company stays registered while its bankruptcy runs. A company with more than one main activity counts in each of those sectors.
The comparison with Belgium as a whole and with the other NACE divisions rests on an overview of every division, counted again each night. Each division is counted in the version of the NACE classification in which it exists. A standing such as "more than in 80%" compares with the other divisions that have the figure. A division's bankruptcy probability is the median over its companies with a score. Belgium here counts the 1,276,472 companies with a main activity, because only those belong to a division. The other 699,781 registrations publish no activity.
Each median is the value of the middle company, computed over the annual accounts of financial year 2025, and is shown only from 30 accounts. A share (loss-making, negative equity) counts that year's accounts with that trait. Accounts are late when they are filed after the statutory deadline. The direction per financial year follows the companies still registered today. Missing or 90 days late counts the companies with accounts missing today, or whose latest were filed more than 90 days after the deadline. The dossier follows the same rule.