Providers of credit reports on construction companies?

Good day,

we have found a construction company for our building project. We have already looked at the annual financial statements from the [Unternehmensregister], but unfortunately, as a layperson, it is not entirely clear.

Accordingly, we searched for a provider of credit reports. As a private individual, we only found [Schufa] and "Firmenbonitätsprüfung." The latter does not seem very reliable, and with [Schufa] you have to subscribe.

Do you know of any other provider of credit reports where it is possible as a private individual to purchase a credit report?

Thank you very much!

Regards

Do you know of another provider of credit reports where it is possible for a private person to buy a credit report?

What do you expect from it? Credit reports do not provide you as a private person with any serious indications. Even we as a bank, for example, do not really look at Crefo reports, but only file them for audit purposes. In construction companies, there are so many positions that a company currently implementing a few projects receives a poor credit index because of that. Three days later, the projects are settled and the credit rating is suddenly excellent. This is already difficult for professionals to comprehend; as a layperson, you will hardly understand it. The best creditworthiness may exist at the company, which overnight is destroyed by the insolvency of a single project of a subsidiary. The press is full of these insolvencies.

I see it similarly. Heinz von Heiden also seemed to be insolvent in 2013 at our neighbors because they misjudged found indicators. They are still building.

I see it similarly. Heinz von Heiden was also, in 2013, practically insolvent with our neighbors because they misjudged found indicators. They are still building.

With Tecklenburg, it was exactly the other way around...

we have found a construction company for our building project. We have already looked at the annual financial statements from the company register, but unfortunately, as a layperson, you can't really make sense of them.

Forget it. Secondly, because credit reports are not one bit easier to "read" than annual financial statements. And firstly, because they do not replace more effective security measures (such as a completion guarantee).

Forget it. Secondly, because credit reports are not one bit easier to "read" than annual financial statements. And first, because they do not replace more effective security measures (such as a completion bond).

Since I consider myself able to read financial statements as a certified accountant, I looked at the submitted financial statements of our local construction company and at least identified risks in the sister companies that also affected the construction company. With the facts, I went to the (independent) seller and confronted him with the information. He was completely taken aback and then, after consulting with the boss, agreed without further ado to a completion bond and warranty bond. Additionally, we postponed the installments somewhat toward the end, so from my point of view we never had to advance a significant amount. We could have built with other construction companies, but not on the desired plot of land, so we took the risk. I was not entirely wrong; the entire corporate structure collapsed a few years later. However, I would not trust myself to assess the financial statements of large construction companies.