MODUL CONSTRUCT
ActiveSummary
MODUL CONSTRUCT has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26.42M and a net result of €253k. Equity is growing by ~16.7% per year across the filed fiscal years. Its solvency ranks better than 90% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2025
Profitability70▼-8
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 39.08; short-term debt: 0.6% and cash: 6% of total assets), and 5.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94.2%
Return on assets
0.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2025
11 d early
2024
3 d early
2023
12 d early
2022
on the day
2021
on the day
2020
2 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€253k▼ 74.6%
2025 · €994k
2019: €1.07M
2020: €1.56M
2021: €1.64M
2022: €1.44M
2023: €1.76M
2024: €1.46M
2025: €994k
2019 → 2025
Working capital
€6.58M▲ 19.1%
2025 · €5.52M
2019: €-1.11M
2020: €-42k
2021: €1.09M
2022: €3.27M
2023: €5.18M
2024: €4.54M
2025: €5.52M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252025Trend
Equity€7.52M-€9.29M▲ 23.4%€10.74M▲ 15.7%€11.74M▲ 9.3%€26.42M▲ 125%
Operating result€1.93M-€2.35M▲ 21.3%€1.89M▼ 19.7%€1.23M▼ 34.6%€319k▼ 74.1%
Net result€1.44M-€1.76M▲ 22.6%€1.46M▼ 17.3%€994k▼ 31.8%€253k▼ 74.6%
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2025 as the grey bar beneath
Assets €28.04M
Fixed assets
€21.29M ▲ 175%
Current assets
€6.75M ▲ 11.0%
Equity and liabilities €28.04M
Equity
€26.42M ▲ 125%
Provisions
€1.44M =
Debt
€177k ▼ 72.2%
Debt's share of the balance-sheet total falls from 4.6% to 0.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€617k▼
2025 · €1.90M
Cash flow
€551k▼
2025 · €1.66M
Current ratio
39.08▲
2025 · 10.93
Quick ratio
37.75▲
2025 · 10.52
Debt to equity
0.01▼
2025 · 0.05
ROE
1.0%▼
2025 · 8.5%
ROA
0.9%▼
2025 · 7.2%
Interest coverage
2284.76▲
2025 · 2040.48
Debt ≤ 1 year
€173k▼
2025 · €556k
Income taxes
€85k▼
2025 · €333k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2025 · 52 lines
Balance sheet
Code20252025
Assets
Total assets20/58€13.82M€28.04M▲
Fixed assets21/28€7.74M€21.29M▲
Tangible fixed assets22/27€7.74M€21.29M▲
Land and buildings22€5.77M€19.91M▲
Furniture and vehicles24€6k€6k▼
Leasing and similar rights25€1.96M€1.38M▼
Current assets29/58€6.08M€6.75M▲
Amounts receivable after more than one year29-€937k
Trade receivables290-€937k
Stocks and contracts in progress3€230k€230k=
Stocks30/36€230k€230k=
Amounts receivable within one year40/41€2.00M€2.41M▲
Trade receivables40€1.10M€1.23M▲
Other amounts receivable41€902k€1.18M▲
Current investments50/53-€1.50M
Cash at bank and in hand54/58€3.84M€1.67M▼
Deferred charges and accrued income490/1€330€310▼
Equity and liabilities
Total equity and liabilities10/49€13.82M€28.04M▲
Equity10/15€11.74M€26.42M▲
Contributions10/11€1.17M€1.17M=
Capital10€1.17M€1.17M=
Issued capital100€1.17M€1.17M=
Revaluation surpluses12-€14.43M
Reserves13€117k€117k=
Non-distributable reserves130/1€117k€117k=
Legal reserve130€117k€117k=
Profit (loss) carried forward14€10.45M€10.70M▲
Provisions and deferred taxes16€1.44M€1.44M=
Provisions for liabilities and charges160/5€1.44M€1.44M=
Environmental obligations163€1.44M€1.44M=
Amounts payable17/49€637k€177k▼
Amounts payable within one year42/48€556k€173k▼
Trade debts44€534k€59k▼
Suppliers440/4€534k€59k▼
Taxes, remuneration and social security45€22k€114k▲
Taxes450/3€22k€114k▲
Accrued charges and deferred income492/3€81k€4k▼
Income statement
Code20252025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€665k€298k▼
Other operating charges640/8€163k€81k▼
Non-recurring operating charges66A-€236k
Gross operating margin9900€2.06M€934k▼
Operating profit (loss)9901€1.23M€319k▼
Financial income75/76B€95k€19k▼
Recurring financial income75€95k€19k▼
Financial charges65/66B€930€270▼
Recurring financial charges65€930€270▼
Profit (loss) for the period before taxes9903€1.33M€338k▼
Income taxes67/77€333k€85k▼
Profit (loss) for the period9904€994k€253k▼
Profit (loss) for the period to be appropriated9905€994k€253k▼
Appropriation of the result
Profit (loss) to be appropriated9906€10.45M€10.70M▲
Profit (loss) brought forward from the previous period14P€9.45M€10.45M▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
20-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €253k ▼74.6%
Net result drops to €253k, the lowest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 39.08
Current ratio from 10.93 to 39.08; short-term debt falls from €556k to €173k.
31-12
Financial
Equity above €25MEq €26.42M ▲125%
8 profitable years in a row build equity to €26.42M.
28-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Liquidity triplescurrent ratio 10.81
Current ratio from 3.26 to 10.81; short-term debt falls from €2.29M to €463k.
30-06
Financial
Equity above €10MEq €10.74M ▲15.7%
6 profitable years in a row build equity to €10.74M.
19-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €1.76M ▲22.6%
Operating result €2.35M, net result €1.76M, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Show earlier events
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Equity above €5MEq €5.44M ▲11.5%
2 profitable years in a row build equity to €5.44M.
10-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
09-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Tongeren-Borgloon · 1 establishment unit since 1989
Ground area
4.3 ha
Building footprint
1.7 ha
Parcel 73348B0826/00F000, Flanders. Linked by address, not a title deed.
1 establishment unit
MODUL CONSTRUCT NV
since 19892.042.768.134
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73348B0826/00F000 | Flanders | 4.3 ha | 1 · 1.7 ha | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
549300A4P0LS71BGVN80
Similar companies · same sector, comparable size
ABELIM
BE 0446.232.464
Kontich · Eq €26.38M
KORESTATE
BE 0627.721.345
Kortrijk · Eq €26.69M
TPJE
BE 0634.909.441
Oostende · Eq €26.14M
LCV INVEST
BE 0430.969.416
Wortegem-Petegem · Eq €26.73M
ALCOVIL
BE 0420.706.618
Meise · Eq €26.08M
Of 12,022 companies in sector 68203 we hold annual accounts for 5,986. 983 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-12-1988
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
35110Production of electricity from non-renewable sources
35140Electricity, gas, steam and air conditioning supply
62200Computer consultancy and computer facilities management
64910Financial service activities, except insurance and pension funding
70100Activities of head offices
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.