LICENSE TO CONSTRUCT

Active

Private limited companyfounded 2011active for 14 yearsZuiderlaan 1-3, 9000 Gent, Belgium26 active companies are registered at this addressKBO/BCE: BE 0841.841.125

Summary

The computed 12-month bankruptcy probability of LICENSE TO CONSTRUCT is 2.2% (moderate). The 2024 annual accounts show equity of €25.6m and a net result of €1.8m, of which €2.9m non-recurring income. Equity is growing by about 13% per year across the filed financial years. Its solvency ranks better than 41% of 9,639 sector peers (NACE 68, financial year 2024). The company has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

LICENSE TO CONSTRUCTActiveChecked score 54/100

Risk analysis Report Compare

Activity

Real estate activities

NACE 68204Renting and operating of own or leased non-residential real estate, excluding land NACE 68203

1 site

Size

€3.1mturnover 2024

Staff: 3.7 FTE
Equity: €25.6m
Profit: €1.8m

Turnover +80%: merger

Financial health

54 Fair Checked score 2024

Bankruptcy probabilitywithin 12 months: 2.2%

Structure

Parent: Capiva Plus Fund SCSp RAIF · 65%
Holdings: 6

GV ConsultingDirector · permanent representative Gaëtan Vermeire

2025 accounts not filed, 89 days past the deadline6 of 18 deeds summarised

Why 54raises riskFigures for financial year 2024 (filed 26-06-2025)Liquidity: current ratio 0.93, cash €211,809lowers riskSector: Real estate activities (NACE 68)Size: turnover €3.1m, 3.7 FTE, total assets €114.7mShow the evidence

Checked score

Score 2024

54 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially better than 55% of its sector peers (NACE 68, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2023

Average

Solvency 47=

equity 22.4% of total assets

Liquidity 50=

short-term debt 0.9% · cash 0.2%

Profitability 65+15

return on assets 1.6%

Bankruptcy probability, 12 months

2.2% Moderate

0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,617 companies, NACE 68, micro)

Last 24 months 11-2024: 0.5% 12-2024: 0.5%● unchanged vs 11-2024 01-2025: 0.5%● unchanged vs 12-2024 02-2025: 0.5%● unchanged vs 01-2025 03-2025: 0.5%● unchanged vs 02-2025 04-2025: 0.6%▲ +0.1 percentage points vs 03-2025 05-2025: 0.6%● unchanged vs 04-2025 06-2025: 0.6%● unchanged vs 05-2025 07-2025: 0.4%▼ -0.2 percentage points 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: 0.4%● unchanged vs 11-2025 01-2026: 0.4%● unchanged vs 12-2025 02-2026: 0.4%● unchanged vs 01-2026lowest value 03-2026: 0.4%● unchanged vs 02-2026 04-2026: 0.5%▲ +0.1 percentage points vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.5%● unchanged vs 06-2026 08-2026: 1.0%▲ +0.5 percentage points vs 07-2026 09-2026: 1.3%▲ +0.3 percentage points vs 08-2026 10-2026: 2.2%▲ +0.9 percentage points vs 09-2026highest value

Credit of up to €310,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance

Liquidity insufficient (current ratio 0.93, compared with 0.74 in 2023, below 1; short-term debt: 0.9% and cash: 0.2% of total assets), and 77.6% of the assets are financed with debt and provisions.

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 42% on solvency, 52% on liquidity, 52% on profitability and 73% on growth.

The bankruptcy probability was computed on 27-10-2026 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

Six signals.

lowers riskraises riskneutral

Figures for financial year 2024 (filed 26-06-2025)

NBB · annual accounts

Liquidity: current ratio 0.93, cash €211,809

NBB · annual accounts

Sector: Real estate activities (NACE 68)

KBO

Size: turnover €3.1m, 3.7 FTE, total assets €114.7m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Annual accounts not filed

The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 89 days later.

NBB · 10 filings

Position against the passed deadline

31-12-2025 year end31-07-2026 deadline28-10-2026 today

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not filed

2024

35 days early

2023

12 days early

2022

on the day

2021

2 days late

2020

11 days early

2019

49 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 1 day 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 (1)

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

11-08-2025 Capital & shares · RestructuringMerger · Accounting effect ·…
26-06-2025 Annual accounts filedfinancial year 2024 · abbreviated…
31-03-2025 RestructuringMerger · Shareholding · Accounting…

Key points

Positive: Back in profit in 2024after -€825,204 in 2023 €1.8m View
Positive: Among the best 5% on net resultsector median €13,519 · 9,634 companies €1.8m View
Caution: 2025 accounts not fileddeadline was 31-07-2026 89 days past the deadline View
Controlled by Capiva Plus Fund SCSp…known shareholders 100% 65% View
Merger with Fit Capital Partnersmerger on 11-08-2025 2025 View

By topic

Financials

Financial year: 2024
Turnover: €3.1m
Profit: €1.8m
Solvency: 22.4%

Turnover▲ 79.9%

Net result

20202024

Go to Financials

Board & ownership

Board: 1 member
Parent: Capiva Plus Fund SCSp… · 65%
Known shareholders: 100%

GV ConsultingDirector

Go to Board & ownership

Network & group

Group: SAFFELBERG INVESTMENTS
Subsidiaries: 5
Direct holdings: 6
Connected companies: 1

6 holdings

Go to Network & group

Timeline

Events: 25
Since: 2013

31-12-2024Back to profit
31-12-2024Equity above €25m
19-07-2024Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Private limited company
Activity: Real estate activitiesNACE 68204
Founded: 15-12-2011
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 6

Annual meeting: Last Friday of June at 20:00
Purpose: “Het beheer van een onroerend of roerend vermogen en de huurfinanciering van onroerende…” (deed in Dutch)

Go to Articles of association

Key facts about LICENSE TO CONSTRUCT

What is the company number of LICENSE TO CONSTRUCT?: 0841.841.125. In Belgium the VAT number is the company number with BE in front: BE 0841.841.125.
Where is LICENSE TO CONSTRUCT based?: The registered office is at Zuiderlaan 1-3, 9000 Gent.Company details
What does LICENSE TO CONSTRUCT do?: According to the KBO register, the main activity is real estate activities (NACE 68204).
What is the legal form of LICENSE TO CONSTRUCT?: Private limited company (BV).
When was LICENSE TO CONSTRUCT founded?: On 15-12-2011.
Is LICENSE TO CONSTRUCT still active?: Yes, LICENSE TO CONSTRUCT is an active enterprise in the KBO register.
How many employees does LICENSE TO CONSTRUCT have?: On average 3.7 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
What is the turnover of LICENSE TO CONSTRUCT?: €3.1m in financial year 2024, according to the filed annual accounts.
Is LICENSE TO CONSTRUCT profitable?: In financial year 2024, LICENSE TO CONSTRUCT made a profit of €1.8m.
Where can I find the annual accounts of LICENSE TO CONSTRUCT?: LICENSE TO CONSTRUCT filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2024.