RGN Construct
ActiveSummary
The computed 12-month bankruptcy probability of RGN Construct is 2.9% (moderate). The 2025 annual accounts show equity of €36k and a net result of €-20k. Equity is shrinking by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 59% of 27965 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-75
Solvency80▲+1
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
2.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 1.72 against 1.82 in 2024; short-term debt: 44.8% and cash: 31.9% of total assets), and 44.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
55.2%
Return on assets
-31.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
55 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€36k▼ 36.2%
2024 · €56k
2023: €51k
2024: €56k▲ +10.5% vs 2023highest in 3 years
2025: €36k▼ -36.2% vs 2024lowest in 3 years
2023 → 2025
Total assets
€65k▼ 37.6%
2024 · €104k
2023: €100k
2024: €104k▲ +4.1% vs 2023highest in 3 years
2025: €65k▼ -37.6% vs 2024lowest in 3 years
2023 → 2025
Net result
€-20k
2024 · €5k
2023: €43khighest in 3 years
2024: €5k▼ -87.7% vs 2023
2025: €-20k▼ -482% vs 2024lowest in 3 years
2023 → 2025
Working capital
€21k▼ 47.1%
2024 · €39k
2023: €33k
2024: €39k▲ +17.8% vs 2023highest in 3 years
2025: €21k▼ -47.1% vs 2024lowest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€51k-€56k▲ 10.5%€36k▼ 36.2%
2023: €51k
2024: €56k▲ +10.5% vs 2023highest in 3 years
2025: €36k▼ -36.2% vs 2024lowest in 3 years
Operating result€59k-€16k▼ 72.6%€-17k
2023: €59khighest in 3 years
2024: €16k▼ -72.6% vs 2023
2025: €-17k▼ -206% vs 2024lowest in 3 years
Net result€43k-€5k▼ 87.7%€-20k
2023: €43khighest in 3 years
2024: €5k▼ -87.7% vs 2023
2025: €-20k▼ -482% vs 2024lowest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €17k after €16k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65k
Fixed assets
€15k ▼ 10.5%
Current assets
€50k ▼ 42.8%
Equity and liabilities €65k
Equity
€36k ▼ 36.2%
Debt
€29k ▼ 39.2%
Debt's share of the balance-sheet total falls from 46.0% to 44.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-16k▼
2024 · €18k
Cash flow
€-19k▼
2024 · €7k
Current ratio
1.72▼
2024 · 1.82
Debt to equity
0.81▼
2024 · 0.85
ROE
-56.8%▼
2024 · 9.5%
ROA
-31.3%▼
2024 · 5.1%
Interest coverage
-6.79▼
2024 · 6.68
Debt ≤ 1 year
€29k▼
2024 · €48k
Income taxes
€871▼
2024 · €8k
Staff costs
€162k▲
2024 · €141k
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 2024 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€104k€65k▼
Fixed assets21/28€17k€15k▼
Tangible fixed assets22/27€10k€8k▼
Plant, machinery and equipment23€10k€8k▼
Financial fixed assets28€7k€7k=
Current assets29/58€87k€50k▼
Amounts receivable within one year40/41€62k€25k▼
Trade receivables40€58k€234▼
Other amounts receivable41€4k€25k▲
Cash at bank and in hand54/58€21k€21k▼
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€104k€65k▼
Equity10/15€56k€36k▼
Contributions10/11€8k€8k=
Profit (loss) carried forward14€49k€28k▼
Amounts payable17/49€48k€29k▼
Amounts payable within one year42/48€48k€29k▼
Trade debts44€9k€5k▼
Suppliers440/4€9k€5k▼
Taxes, remuneration and social security45€38k€24k▼
Taxes450/3€23k€9k▼
Remuneration and social security454/9€15k€15k▲
Other amounts payable47/48€1k-
Income statement
Code20242025
Remuneration, social security and pensions62€141k€162k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Other operating charges640/8€8k€3k▼
Gross operating margin9900€167k€149k▼
Operating profit (loss)9901€16k€-17k▼
Financial income75/76B€7€170▲
Recurring financial income75€7€170▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€14k€-19k▼
Income taxes67/77€8k€871▼
Profit (loss) for the period9904€5k€-20k▼
Profit (loss) for the period to be appropriated9905€5k€-20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€49k€28k▼
Profit (loss) brought forward from the previous period14P€43k€49k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €81k | €141k | €162k | ▲ 15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €631 | €2k | €2k | ▲ 0.8% |
| Other operating charges640/8 | €3k | €8k | €3k | ▼ 68.8% |
| Gross operating margin9900 | €144k | €167k | €149k | ▼ 10.9% |
| Operating profit (loss)9901 | €59k | €16k | €-17k | ▼ 206% |
| Financial income75/76B | - | €7 | €170 | ▲ 2,287% |
| Recurring financial income75 | - | €7 | €170 | ▲ 2,287% |
| Financial charges65/66B | €2k | €3k | €2k | ▼ 15.3% |
| Recurring financial charges65 | €2k | €3k | €2k | ▼ 15.3% |
| Profit (loss) for the period before taxes9903 | €58k | €14k | €-19k | ▼ 243% |
| Income taxes67/77 | €14k | €8k | €871 | ▼ 89.5% |
| Profit (loss) for the period9904 | €43k | €5k | €-20k | ▼ 482% |
| Profit (loss) for the period to be appropriated9905 | €43k | €5k | €-20k | ▼ 482% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €100k | €104k | €65k | ▼ 37.6% |
| Fixed assets21/28 | €17k | €17k | €15k | ▼ 10.5% |
| Tangible fixed assets22/27 | €10k | €10k | €8k | ▼ 18.2% |
| Plant, machinery and equipment23 | €10k | €10k | €8k | ▼ 18.2% |
| Financial fixed assets28 | €7k | €7k | €7k | = |
| Current assets29/58 | €83k | €87k | €50k | ▼ 42.8% |
| Amounts receivable within one year40/41 | €55k | €62k | €25k | ▼ 59.8% |
| Trade receivables40 | €55k | €58k | €234 | ▼ 99.6% |
| Other amounts receivable41 | €241 | €4k | €25k | ▲ 544% |
| Cash at bank and in hand54/58 | €24k | €21k | €21k | ▼ 0.2% |
| Deferred charges and accrued income490/1 | €4k | €5k | €4k | ▼ 7.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €100k | €104k | €65k | ▼ 37.6% |
| Equity10/15 | €51k | €56k | €36k | ▼ 36.2% |
| Contributions10/11 | €8k | €8k | €8k | = |
| Profit (loss) carried forward14 | €43k | €49k | €28k | ▼ 41.8% |
| Amounts payable17/49 | €49k | €48k | €29k | ▼ 39.2% |
| Amounts payable within one year42/48 | €49k | €48k | €29k | ▼ 39.2% |
| Trade debts44 | €18k | €9k | €5k | ▼ 46.6% |
| Suppliers440/4 | €18k | €9k | €5k | ▼ 46.6% |
| Taxes, remuneration and social security45 | €24k | €38k | €24k | ▼ 35.6% |
| Taxes450/3 | €17k | €23k | €9k | ▼ 59.8% |
| Remuneration and social security454/9 | €6k | €15k | €15k | ▲ 1.7% |
| Other amounts payable47/48 | €7k | €1k | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €43k | €5k | €-20k | ▼ 482% |
| + Depreciation and write-downs630 | €631 | €2k | €2k | ▲ 0.8% |
| Operating cash flow (approximation) | €44k | €7k | €-19k | ▼ 362% |
| Investment in fixed assets (approximation) | - | €-1k | €0 | ▲ 100% |
| Change in cash | - | €-3k | €-45 | ▲ 98.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 55 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Lokeren · 1 establishment unit since 2022
Ground area
330 m²
Building footprint
151 m²
Volume, LiDAR
625 m³
Parcel 46014A0545/00S003, Flanders · tallest building 9.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
RGN Construct
since 20222.335.542.046
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A0545/00S003 | Flanders | 330 m² | 1 · 151 m² | 8.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 315 EUR awarded · 315 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 315 EUR | 315 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
3 categoriesRGN Construct BV#10379
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Of 607 companies in sector 43130 we hold annual accounts for 302. 202 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-07-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43130Specialised construction activities
43211General electrical installation work
43120Site preparation
Scores and ratios are computed by Checked and are not a credit decision.