VANHEE CONSTRUCT
ActiveVANHEE CONSTRUCT has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €550k and a net result of €-34k. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 70% of 2138 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
60
/ 100
Healthy▲ +8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency98▼-2
Growth32▼-20
Stability100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 2.5 against 3.19 in 2024), and 41.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€34k
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 11-05-2026, 11 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
11 d late
2024
8 d late
2023
on the day
2022
27 d early
2021
30 d early
2020
4 d early
2019
21 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
12-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€550k▼ 5.8%
2024 · €584k
2018: €569k
2019: €575k
2020: €705k
2021: €717k
2022: €691k
2023: €734k
2024: €584k
2018 → 2025
Total assets
€938k▲ 14.1%
2024 · €822k
2018: €807k
2019: €1.09M
2020: €1.21M
2021: €1.02M
2022: €909k
2023: €938k
2024: €822k
2018 → 2025
Net result
€-34k▲ 54.9%
2024 · €-75k
2018: €3k
2019: €6k
2020: €130k
2021: €12k
2022: €-26k
2023: €43k
2024: €-75k
2018 → 2025
Working capital
€476k▼ 8.4%
2024 · €520k
2018: €522k
2019: €480k
2020: €588k
2021: €601k
2022: €551k
2023: €650k
2024: €520k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€717k-€691k▼ 3.6%€734k▲ 6.3%€584k▼ 20.5%€550k▼ 5.8%
Operating result€20k-€-30k€53k€-78k€-34k▲ 56.8%
Net result€12k-€-26k€43k€-75k€-34k▲ 54.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €34k in 2025 against €78k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €938k
Fixed assets
€145k▲ 125%
Current assets
€793k▲ 4.7%
Equity and liabilities €938k
Equity
€550k▼ 5.8%
Debt
€388k▲ 62.7%
The debt ratio rises from 29.0% to 41.4%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€6k▲
2024 · €-58k
Cash flow
€6k▲
2024 · €-54k
Solvency
58.6%▼
2024 · 71.0%
Current ratio
2.50▼
2024 · 3.19
Quick ratio
2.10▼
2024 · 3.04
Debt / equity
0.71▲
2024 · 0.41
ROE
-6.1%▲
2024 · -12.8%
ROA
-3.6%▲
2024 · -9.1%
Interest coverage
1.02▲
2024 · -32.78
Debt
€388k▲
2024 · €239k
Debt ≤ 1 year
€317k▲
2024 · €238k
Debt > 1 year
€71k
Staff costs
€65k▲
2024 · €65k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€822k€938k▲
Fixed assets21/28€64k€145k▲
Tangible fixed assets22/27€63k€145k▲
Land and buildings22€5k€4k▼
Plant, machinery and equipment23€2k€97k▲
Furniture and vehicles24€56k€43k▼
Financial fixed assets28€2k€0▼
Current assets29/58€758k€793k▲
Stocks and contracts in progress3€35k€128k▲
Stocks30/36€0€856▲
Contracts in progress37€35k€127k▲
Amounts receivable within one year40/41€549k€431k▼
Trade receivables40€17k€0▼
Other amounts receivable41€532k€431k▼
Cash at bank and in hand54/58€118k€66k▼
Deferred charges and accrued income490/1€56k€168k▲
Equity and liabilities
Total equity and liabilities10/49€822k€938k▲
Equity10/15€584k€550k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€522k€489k▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€516k€482k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€239k€388k▲
Amounts payable after more than one year17-€71k
Financial debts170/4-€71k
Amounts payable within one year42/48€238k€317k▲
Current portion of amounts payable after more than one year42-€28k
Trade debts44€26k€34k▲
Suppliers440/4€26k€34k▲
Advances received on contracts in progress46-€89k
Taxes, remuneration and social security45€3k€5k▲
Taxes450/3€541€975▲
Remuneration and social security454/9€2k€4k▲
Other amounts payable47/48€209k€162k▼
Accrued charges and deferred income492/3€744€321▼
Income statement
Code20242025
Non-recurring operating income76A€0€13k▲
Remuneration, social security and pensions62€65k€65k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€40k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€10k€73k▲
Operating profit (loss)9901€-78k€-34k▲
Financial income75/76B€5k€6k▲
Recurring financial income75€5k€6k▲
Financial charges65/66B€2k€6k▲
Recurring financial charges65€2k€6k▲
Profit (loss) for the period before taxes9903€-75k€-34k▲
Income taxes67/77€0-
Profit (loss) for the period9904€-75k€-34k▲
Profit (loss) for the period to be appropriated9905€-75k€-34k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-75k€-34k▲
Transfer from equity791/2€150k€34k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€76k€0▼
Return on contributions (dividend)694€76k€0▼
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 11 days late
2025
08-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
30-09
Financial
Weakest financial yearnet €-75k ▼272%
Net result drops to €-75k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Back to profitnet €43k
Net result €43k after one loss-making year.
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €130k ▲2107%
Operating result €205k, net result €130k, both a record.
09-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
15-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
no sitting director, last change in 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-04-2025
Resigned as Director
Not every act has been read: a resignation may be missing here
5 of this company's 5 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, Jabbeke · 1 establishment unit since 2004
Ground area
1.1 ha
Building footprint
159 m²
Volume, LiDAR
388 m³
Parcel 31012A1123/00C000, Flanders · tallest building 6.2 m. Linked by address, not a title deed.
1 establishment unit
Vanhee Construct
since 20042.135.564.371
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31012A1123/00C000 | Flanders | 1.1 ha | 1 · 159 m² | 6.2 m |
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.
Similar companies · same sector, comparable size
TREHUS
BE 0650.820.411
Aalter · Eq €550k
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BOUWWERKEN LENAERTS
BE 0471.625.183
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BETOQAD
BE 0745.648.896
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ALGEMENE BOUWONDERNEMING PETER BONGAERTS
BE 0886.950.479
Pelt · Eq €549k
Of 29,531 companies in sector 41001 we hold annual accounts for 15,863. 8,778 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded26-10-1999
Fiscal year end30-09
Activities, NACEBEL
41001General construction of residential buildings
43990Other specialised construction activities
43999Specialised construction activities
45211
45250
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.