UNDER CONSTRUCTION
ActiveSummary
UNDER CONSTRUCTION has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.39M and a net result of €20k. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 95% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71=
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 3.71 against 2.75 in 2023; short-term debt: 4.3% and cash: 5.9% of total assets), and 4.4% of the assets are financed with debt.
Credit check 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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
95.6%
Return on assets
1.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
28 d late
2022
30 d late
2021
92 d late
2020
61 d late
2019
92 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€1.39M▲ 1.5%
2023 · €1.37M
2018: €1.40M
2019: €1.42M▲ +1.2% vs 2018highest in 7 years
2020: €1.41M▼ -0.4% vs 2019
2021: €1.40M▼ -0.8% vs 2020
2022: €1.36M▼ -2.8% vs 2021lowest in 7 years
2023: €1.37M▲ +0.6% vs 2022
2024: €1.39M▲ +1.5% vs 2023
2018 → 2024
Total assets
€1.46M▼ 2.6%
2023 · €1.49M
2018: €1.83Mhighest in 7 years
2019: €1.50M▼ -18.1% vs 2018
2020: €1.52M▲ +1.3% vs 2019
2021: €1.55M▲ +2.0% vs 2020
2022: €1.50M▼ -3.1% vs 2021
2023: €1.49M▼ -0.5% vs 2022
2024: €1.46M▼ -2.6% vs 2023lowest in 7 years
2018 → 2024
Net result
€20k▼ 14.0%
2023 · €24k
2018: €-39klowest in 7 years
2019: €17k▲ +143% vs 2018
2020: €24k▲ +39.5% vs 2019
2021: €-12k▼ -150% vs 2020
2022: €-25k▼ -112% vs 2021
2023: €24k▲ +195% vs 2022highest in 7 years
2024: €20k▼ -14.0% vs 2023
2018 → 2024
Working capital
€169k▲ 14.0%
2023 · €148k
2018: €518khighest in 7 years
2019: €234k▼ -54.9% vs 2018
2020: €310k▲ +32.3% vs 2019
2021: €185k▼ -40.2% vs 2020
2022: €145k▼ -21.7% vs 2021lowest in 7 years
2023: €148k▲ +2.2% vs 2022
2024: €169k▲ +14.0% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.41M-€1.40M▼ 0.8%€1.36M▼ 2.8%€1.37M▲ 0.6%€1.39M▲ 1.5%
2020: €1.41Mhighest in 5 years
2021: €1.40M▼ -0.8% vs 2020
2022: €1.36M▼ -2.8% vs 2021lowest in 5 years
2023: €1.37M▲ +0.6% vs 2022
2024: €1.39M▲ +1.5% vs 2023
Operating result€23k-€-9k€77k€25k▼ 68.0%€16k▼ 35.2%
2020: €23k
2021: €-9k▼ -141% vs 2020lowest in 5 years
2022: €77k▲ +915% vs 2021highest in 5 years
2023: €25k▼ -68.0% vs 2022
2024: €16k▼ -35.2% vs 2023
Net result€24k-€-12k€-25k▼ 112%€24k€20k▼ 14.0%
2020: €24k
2021: €-12k▼ -150% vs 2020
2022: €-25k▼ -112% vs 2021lowest in 5 years
2023: €24k▲ +195% vs 2022highest in 5 years
2024: €20k▼ -14.0% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 35% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.46M
Fixed assets
€1.22M ▼ 3.0%
Current assets
€232k ▼ 0.5%
Equity and liabilities €1.46M
Equity
€1.39M ▲ 1.5%
Debt
€64k ▼ 48.0%
Debt's share of the balance-sheet total falls from 8.3% to 4.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€85k▼
2023 · €92k
Cash flow
€90k▼
2023 · €92k
Current ratio
3.71▲
2023 · 2.75
Debt to equity
0.05▼
2023 · 0.09
ROE
1.5%▼
2023 · 1.7%
ROA
1.4%▼
2023 · 1.6%
Interest coverage
33.96▼
2023 · 68.66
Debt ≤ 1 year
€62k▼
2023 · €85k
Debt > 1 year
€2k▼
2023 · €23k
Income taxes
€5k▲
2023 · €2k
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 · 2024 against 2023 · 54 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.49M€1.46M▼
Fixed assets21/28€1.26M€1.22M▼
Tangible fixed assets22/27€1.26M€1.22M▼
Land and buildings22€1.25M€1.21M▼
Plant, machinery and equipment23€3k€3k▼
Furniture and vehicles24€7k€7k▼
Current assets29/58€233k€232k▼
Amounts receivable within one year40/41€43k€15k▼
Trade receivables40€43k€11k▼
Other amounts receivable41-€4k
Current investments50/53€129k€129k=
Cash at bank and in hand54/58€59k€85k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€1.49M€1.46M▼
Equity10/15€1.37M€1.39M▲
Contributions10/11€159k€159k=
Capital10€159k€159k=
Issued capital100€159k€159k=
Reserves13€52k€72k▲
Non-distributable reserves130/1€16k€16k=
Legal reserve130€16k€16k=
Distributable reserves133€37k€57k▲
Profit (loss) carried forward14€1.16M€1.16M=
Amounts payable17/49€124k€64k▼
Amounts payable after more than one year17€23k€2k▼
Financial debts170/4€23k€2k▼
Amounts payable within one year42/48€85k€62k▼
Current portion of amounts payable after more than one year42€20k€21k▲
Trade debts44€10k€2k▼
Suppliers440/4€10k€2k▼
Taxes, remuneration and social security45€9k€7k▼
Taxes450/3€9k€5k▼
Remuneration and social security454/9-€1k
Other amounts payable47/48€45k€33k▼
Accrued charges and deferred income492/3€17k-
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€68k€69k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€2k
Other operating charges640/8€24k€36k▲
Gross operating margin9900€116k€123k▲
Operating profit (loss)9901€25k€16k▼
Financial income75/76B€2k€12k▲
Recurring financial income75€2k€12k▲
Financial charges65/66B€1k€3k▲
Recurring financial charges65€1k€3k▲
Profit (loss) for the period before taxes9903€26k€25k▼
Income taxes67/77€2k€5k▲
Profit (loss) for the period9904€24k€20k▼
Profit (loss) for the period to be appropriated9905€24k€20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.19M€1.18M▼
Profit (loss) brought forward from the previous period14P€1.17M€1.16M▼
Transfer to equity691/2€20k€20k=
To other reserves6921€20k€20k=
Profit to be distributed694/7€15k€0▼
Return on contributions (dividend)694€15k€0▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €100k | €111k | €66k | €68k | €69k | ▲ 2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €4k | - | - | €2k | - |
| Other operating charges640/8 | - | €18k | €20k | €24k | €36k | ▲ 52.4% |
| Gross operating margin9900 | €141k | €123k | €163k | €116k | €123k | ▲ 6.1% |
| Operating profit (loss)9901 | €23k | €-9k | €77k | €25k | €16k | ▼ 35.2% |
| Financial income75/76B | - | €695 | €673 | €2k | €12k | ▲ 393% |
| Recurring financial income75 | €2k | €695 | €673 | €2k | €12k | ▲ 393% |
| Financial charges65/66B | - | €3k | €103k | €1k | €3k | ▲ 86.3% |
| Recurring financial charges65 | €2k | €3k | €3k | €1k | €3k | ▲ 86.3% |
| Non-recurring financial charges66B | - | - | €100k | - | - | - |
| Profit (loss) for the period before taxes9903 | €24k | €-12k | €-25k | €26k | €25k | ▼ 1.0% |
| Income taxes67/77 | - | - | - | €2k | €5k | ▲ 153% |
| Profit (loss) for the period9904 | €24k | €-12k | €-25k | €24k | €20k | ▼ 14.0% |
| Profit (loss) for the period to be appropriated9905 | €24k | €-12k | €-25k | €24k | €20k | ▼ 14.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.52M | €1.55M | €1.50M | €1.49M | €1.46M | ▼ 2.6% |
| Fixed assets21/28 | €1.12M | €1.29M | €1.28M | €1.26M | €1.22M | ▼ 3.0% |
| Tangible fixed assets22/27 | €1.12M | €1.29M | €1.28M | €1.26M | €1.22M | ▼ 3.0% |
| Land and buildings22 | - | €1.28M | €1.26M | €1.25M | €1.21M | ▼ 2.9% |
| Plant, machinery and equipment23 | - | €2k | €4k | €3k | €3k | ▼ 12.1% |
| Furniture and vehicles24 | - | €7k | €7k | €7k | €7k | ▼ 6.4% |
| Current assets29/58 | €401k | €257k | €227k | €233k | €232k | ▼ 0.5% |
| Amounts receivable after more than one year29 | - | €100k | - | - | - | - |
| Trade receivables290 | - | €100k | - | - | - | - |
| Stocks and contracts in progress3 | €4k | - | - | - | - | - |
| Amounts receivable within one year40/41 | €78k | €58k | €80k | €43k | €15k | ▼ 64.9% |
| Trade receivables40 | - | €38k | €50k | €43k | €11k | ▼ 74.2% |
| Other amounts receivable41 | - | €20k | €30k | - | €4k | - |
| Current investments50/53 | €14k | €14k | €43k | €129k | €129k | = |
| Cash at bank and in hand54/58 | €197k | €80k | €103k | €59k | €85k | ▲ 45.2% |
| Deferred charges and accrued income490/1 | - | €5k | €1k | €2k | €2k | ▲ 5.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.52M | €1.55M | €1.50M | €1.49M | €1.46M | ▼ 2.6% |
| Equity10/15 | €1.41M | €1.40M | €1.36M | €1.37M | €1.39M | ▲ 1.5% |
| Contributions10/11 | €159k | €159k | €159k | €159k | €159k | = |
| Capital10 | - | €159k | €159k | €159k | €159k | = |
| Issued capital100 | - | €159k | €159k | €159k | €159k | = |
| Reserves13 | €32k | €32k | €32k | €52k | €72k | ▲ 38.2% |
| Non-distributable reserves130/1 | - | €16k | €16k | €16k | €16k | = |
| Legal reserve130 | - | €16k | €16k | €16k | €16k | = |
| Distributable reserves133 | - | €17k | €17k | €37k | €57k | ▲ 54.8% |
| Profit (loss) carried forward14 | €1.22M | €1.21M | €1.17M | €1.16M | €1.16M | = |
| Amounts payable17/49 | €106k | €148k | €140k | €124k | €64k | ▼ 48.0% |
| Amounts payable after more than one year17 | €1k | €63k | €43k | €23k | €2k | ▼ 92.2% |
| Financial debts170/4 | - | €63k | €43k | €23k | €2k | ▼ 92.2% |
| Amounts payable within one year42/48 | €91k | €72k | €82k | €85k | €62k | ▼ 26.1% |
| Current portion of amounts payable after more than one year42 | - | €21k | €20k | €20k | €21k | ▲ 2.0% |
| Trade debts44 | €26k | €10k | €10k | €10k | €2k | ▼ 76.1% |
| Suppliers440/4 | - | €10k | €10k | €10k | €2k | ▼ 76.1% |
| Taxes, remuneration and social security45 | - | €12k | €11k | €9k | €7k | ▼ 22.5% |
| Taxes450/3 | - | €12k | €11k | €9k | €5k | ▼ 39.1% |
| Remuneration and social security454/9 | - | - | - | - | €1k | - |
| Other amounts payable47/48 | - | €30k | €40k | €45k | €33k | ▼ 28.0% |
| Accrued charges and deferred income492/3 | - | €14k | €16k | €17k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €-12k | €-25k | €24k | €20k | ▼ 14.0% |
| + Depreciation and write-downs630 | €100k | €111k | €66k | €68k | €69k | ▲ 2.1% |
| Operating cash flow (approximation) | €124k | €100k | €42k | €92k | €90k | ▼ 2.1% |
| Investment in fixed assets (approximation) | - | €-286k | €-48k | €-54k | €-32k | ▲ 41.4% |
| Change in cash | - | €-118k | €23k | €-44k | €27k | ▲ 160% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Back to profitnet €24k
Net result €24k after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
09-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 101 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Evergem · 1 establishment unit since 1992
Ground area
9,207 m²
Building footprint
2,859 m²
Volume, LiDAR
21,372 m³
Parcel 44302E0477/00E002, Flanders · tallest building 8.4 m, ±3 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
UNDER CONSTRUCTION - Afkorting: U C
since 19922.058.894.977
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44302E0477/00E002 | Flanders | 9,207 m² | 1 · 2,859 m² | 8.4 m · 3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteEvergem2.058.894.977
Legal Entity Identifier
875500G1YS4X268Z4B48
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,913 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded25-08-1992
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
16230Manufacture of other builders' carpentry and joinery
81100Combined facilities support activities
Scores and ratios are computed by Checked and are not a credit decision.