V-CONSTRUCT
ActiveSummary
V-CONSTRUCT has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €189k and a net result of €-49k. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 93% of 1208 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-40
Solvency100=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 9.11; short-term debt: 11% and cash: 1.1% of total assets), and 11% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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
26 d late
2024
43 d late
2023
34 d early
2022
33 d early
2021
46 d early
2020
25 d early
2019
31 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, abbreviated schema
Equity
€189k▼ 20.5%
2024 · €237k
2018: €190k
2019: €187k▼ -1.5% vs 2018
2020: €186k▼ -0.7% vs 2019lowest in 8 years
2021: €226k▲ +21.9% vs 2020
2022: €240k▲ +6.1% vs 2021highest in 8 years
2023: €235k▼ -2.1% vs 2022
2024: €237k▲ +0.9% vs 2023
2025: €189k▼ -20.5% vs 2024
2018 → 2025
Total assets
€212k▼ 10.8%
2024 · €237k
2018: €426khighest in 8 years
2019: €188k▼ -55.9% vs 2018
2020: €186k▼ -0.7% vs 2019lowest in 8 years
2021: €311k▲ +67.0% vs 2020
2022: €354k▲ +13.6% vs 2021
2023: €235k▼ -33.5% vs 2022
2024: €237k▲ +0.9% vs 2023
2025: €212k▼ -10.8% vs 2024
2018 → 2025
Net result
€-49k
2024 · €2k
2018: €54k
2019: €-3k▼ -105% vs 2018
2020: €-1k▲ +55.0% vs 2019
2021: €119k▲ +9614% vs 2020highest in 8 years
2022: €114k▼ -4.1% vs 2021
2023: €-5k▼ -104% vs 2022
2024: €2k▲ +143% vs 2023
2025: €-49k▼ -2381% vs 2024lowest in 8 years
2018 → 2025
Working capital
€189k▼ 20.5%
2024 · €237k
2018: €190k
2019: €187k▼ -1.5% vs 2018
2020: €186k▼ -0.7% vs 2019lowest in 8 years
2021: €226k▲ +21.9% vs 2020
2022: €240k▲ +6.1% vs 2021highest in 8 years
2023: €235k▼ -2.1% vs 2022
2024: €237k▲ +0.9% vs 2023
2025: €189k▼ -20.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€226k-€240k▲ 6.1%€235k▼ 2.1%€237k▲ 0.9%€189k▼ 20.5%
2021: €226k
2022: €240k▲ +6.1% vs 2021highest in 5 years
2023: €235k▼ -2.1% vs 2022
2024: €237k▲ +0.9% vs 2023
2025: €189k▼ -20.5% vs 2024lowest in 5 years
Operating result€-32k-€-33k▼ 0.6%€-5k▲ 85.0%€-2k▲ 62.3%€-47k▼ 2,429%
2021: €-32k
2022: €-33k▼ -0.6% vs 2021
2023: €-5k▲ +85.0% vs 2022
2024: €-2k▲ +62.3% vs 2023highest in 5 years
2025: €-47k▼ -2429% vs 2024lowest in 5 years
Net result€119k-€114k▼ 4.1%€-5k€2k€-49k
2021: €119khighest in 5 years
2022: €114k▼ -4.1% vs 2021
2023: €-5k▼ -104% vs 2022
2024: €2k▲ +143% vs 2023
2025: €-49k▼ -2381% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €47k in 2025 against €2k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €212k
Equity
€189k ▼ 20.5%
Debt
€23k ▲ 8,609%
Debt's share of the balance-sheet total rises from 0.1% to 11.0%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
9.11
Debt to equity
0.12▲
2024 · 0.00
ROE
-25.7%▼
2024 · 0.9%
ROA
-22.9%▼
2024 · 0.9%
Debt ≤ 1 year
€23k▲
2024 · €267
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 · 32 lines
Balance sheet
Code20242025
Assets
Total assets20/58€237k€212k▼
Current assets29/58€237k€212k▼
Amounts receivable within one year40/41€232k€210k▼
Trade receivables40-€6k
Other amounts receivable41€232k€204k▼
Cash at bank and in hand54/58€6k€2k▼
Equity and liabilities
Total equity and liabilities10/49€237k€212k▼
Equity10/15€237k€189k▼
Contributions10/11€20k€20k=
Reserves13€217k€169k▼
Distributable reserves133€217k€169k▼
Amounts payable17/49€267€23k▲
Amounts payable within one year42/48€267€23k▲
Trade debts44€267€146▼
Suppliers440/4€267€146▼
Taxes, remuneration and social security45-€23k
Taxes450/3-€23k
Income statement
Code20242025
Other operating charges640/8€740€48k▲
Gross operating margin9900€-1k€1k▲
Operating profit (loss)9901€-2k€-47k▼
Financial income75/76B€4k€3k▼
Recurring financial income75€4k€3k▼
Financial charges65/66B€40€5k▲
Recurring financial charges65€40€5k▲
Profit (loss) for the period before taxes9903€2k€-49k▼
Profit (loss) for the period9904€2k€-49k▼
Profit (loss) for the period to be appropriated9905€2k€-49k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2k€-49k▼
Transfer from equity791/2-€49k
Transfer to equity691/2€2k€0▼
To other reserves6921€2k€0▼
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €742 | €1k | €724 | €740 | €48k | ▲ 6,348% |
| Gross operating margin9900 | €-32k | €-32k | €-4k | €-1k | €1k | ▲ 199% |
| Operating profit (loss)9901 | €-32k | €-33k | €-5k | €-2k | €-47k | ▼ 2,429% |
| Financial income75/76B | €163k | €152k | €1k | €4k | €3k | ▼ 27.0% |
| Recurring financial income75 | €163k | €152k | €1k | €4k | €3k | ▼ 27.0% |
| Financial charges65/66B | €45 | €45 | €2k | €40 | €5k | ▲ 12,207% |
| Recurring financial charges65 | €45 | €45 | €2k | €40 | €5k | ▲ 12,207% |
| Profit (loss) for the period before taxes9903 | €131k | €119k | €-5k | €2k | €-49k | ▼ 2,381% |
| Income taxes67/77 | €12k | €6k | - | - | - | - |
| Profit (loss) for the period9904 | €119k | €114k | €-5k | €2k | €-49k | ▼ 2,381% |
| Profit (loss) for the period to be appropriated9905 | €119k | €114k | €-5k | €2k | €-49k | ▼ 2,381% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €311k | €354k | €235k | €237k | €212k | ▼ 10.8% |
| Current assets29/58 | €311k | €354k | €235k | €237k | €212k | ▼ 10.8% |
| Amounts receivable within one year40/41 | €266k | €236k | €78k | €232k | €210k | ▼ 9.6% |
| Trade receivables40 | €35k | €185k | - | - | €6k | - |
| Other amounts receivable41 | €231k | €51k | €78k | €232k | €204k | ▼ 12.0% |
| Cash at bank and in hand54/58 | €45k | €118k | €157k | €6k | €2k | ▼ 59.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €311k | €354k | €235k | €237k | €212k | ▼ 10.8% |
| Equity10/15 | €226k | €240k | €235k | €237k | €189k | ▼ 20.5% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves13 | €206k | €220k | €215k | €217k | €169k | ▼ 22.4% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €204k | €218k | €215k | €217k | €169k | ▼ 22.4% |
| Amounts payable17/49 | €85k | €114k | €255 | €267 | €23k | ▲ 8,609% |
| Amounts payable within one year42/48 | €85k | €114k | €255 | €267 | €23k | ▲ 8,609% |
| Trade debts44 | €7k | €8k | €255 | €267 | €146 | ▼ 45.5% |
| Suppliers440/4 | €7k | €8k | €255 | €267 | €146 | ▼ 45.5% |
| Taxes, remuneration and social security45 | €146 | €6k | - | - | €23k | - |
| Taxes450/3 | €146 | €6k | - | - | €23k | - |
| Other amounts payable47/48 | €78k | €100k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €119k | €114k | €-5k | €2k | €-49k | ▼ 2,381% |
| Operating cash flow (approximation) | €119k | €114k | €-5k | €2k | €-49k | ▼ 2,381% |
| Change in cash | - | €72k | €40k | €-152k | €-3k | ▲ 97.8% |
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
22-09
State Gazette act
Appointment: Hercas NV (non-statutory director)Permanent representatives: Carlos Vinckier and Thomas Vinckier5 facts ▸
State Gazette act
Appointment: Hercas NV (non-statutory director)
Permanent representatives: Carlos Vinckier and Thomas Vinckier5 facts ▸
- General meeting, 24-08-2026
- Director appointment, Hercas NV (non-statutory director)
- Permanent representative, Carlos Vinckier (permanent representative)
- Director in office, Thomas Vinckier (director)
- Permanent representative, Thomas Vinckier (permanent representative)
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
31-12
Financial
Weakest financial yearnet €-49k
Net result drops to €-49k, the lowest in the series.
12-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 43 days late
2024
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity times 297current ratio 922.72
Current ratio from 3.11 to 922.72; short-term debt falls from €114k to €255.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €119k
Net result €119k after 2 loss-making years.
31-12
Financial
Equity above €200kEq €226k ▲21.9%
Equity rises from €186k to €226k.
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Liquidity times 117current ratio 211.36
Current ratio from 1.80 to 211.36; short-term debt falls from €236k to €888.
08-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
HERCAS
CurrentNon-statutory director · since 01-09-2026 · Public limited company · perm. rep.: Carlos Vinckier
01-09-2026
Appointed as Non-statutory director
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Diksmuide · 1 establishment unit since 2015
Ground area
6,105 m²
Building footprint
2,965 m²
Volume, LiDAR
17,326 m³
Parcel 32001A0713/00P002, Flanders · tallest building 15.5 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
V-CONSTRUCT
since 20152.241.669.208
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32001A0713/00P002 | Flanders | 6,105 m² | 1 · 2,965 m² | 15.5 m · 2 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.
Structure & network
Connections & network
1 connected companyLinked via shared directors
Shared corporate director
→
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Of 1,281 companies in sector 81100 we hold annual accounts for 678. 464 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
Founded29-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
81100Combined facilities support activities
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.