Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The result fell in 2025: 12-month financial year.
€5.2m of the debts are secured on the company's own assets. In 2022 that was €7.7m.
The 2017 accounts came 2 days late. The other nine of the last ten were filed on time.
Lower net result than 95% of companies in real estate. Sector median €20,526 · 5,817 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.1% across 1,721 companies (NACE 68, medium-sized).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, medium-sized). It does better than 11% of them on solvency, 12% on liquidity, 5% on profitability and 4% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 139 companies had the same profile as ABRAM has now. Each dot is one company, two years later.
The bankruptcy probability of ABRAM itself is lower: 0.2% within 12 months. It rests on far more data about ABRAM than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 139 companies, not a prediction for ABRAM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.88 (0.86 in 2024), below 1. Short-term debt is 71.4% and cash 3% of total assets. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 10 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| ABRAM Oostkamp | €16.0m | €0.6m | -1.0% | 0 |
| Trinity Real Estate Investments Genk | €9.4m | €1.4m | 17.7% | 0 |
| BELGIUM BUILDINGS CONCEPT Uccle | €10.3m | €1.7m | 53.2% | 0.5 |
| EUROPE 131 Schilde | €17.9m | €0.2m | 20.7% | 0 |
| MORVAN Ghent | €18.5m | €0.6m | 40.7% | 1 |
| BETONBOUW DELEERSNYDER Zulte | €8.6m | €0.6m | 83.8% | 0 |
| AGB Lanaken Lanaken | €6.5m | €0.7m | 55.0% | 0.2 |
These companies have the same main activity as ABRAM: development of non-residential building projects (NACE 68122). They are comparable in size and age: total assets between €6.5m and €19m, founded between 1974 and 2007.
ABRAM has existed since 1992. In 2022 the gross margin rose from €116,085 to €1.2m.
Solvency fell in 2025 from 4.4% to -1.0% because of the loss and higher long-term debts.
GLOBAL NEXUS holds all the shares. In July 2024, four directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.1m. Estimated: probably between €830,000 and €1.8m.
Higher than 13% of 5,810 companies in 2025.
Higher than 38% of 5,561 companies in 2025.
Higher than 12% of 5,784 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
16.0m | 15.2m | 19.4m | 22.7m | 22.5m | 5.8m | 4.3m | 12,111 | 100,338 | 106,347 | 111,331 | 81,026 | 88,749 | 95,718 | 93,968 | 105,781 | 167,861 | 285,006 | 218,263 | |
21/28 |
5.9m | 6.1m | 8.1m | 9.1m | 9.2m | 1.9m | 2.1m | - | - | - | - | - | 1,317 | 6,697 | 12,217 | 39,519 | 90,181 | 132,335 | 146,966 | |
22/27 |
5.5m | 5.7m | 4.0m | 4.1m | 4.2m | 1.9m | 2.1m | - | - | - | - | - | 1,317 | 6,697 | 12,217 | 39,519 | 90,181 | 132,335 | 146,966 | |
22 |
4.4m | 4.5m | 2.7m | 2.7m | 2.7m | 288,279 | 464,459 | - | - | - | - | - | - | - | - | - | - | - | - | |
23 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 3,740 | 8,740 | 33,529 | 80,375 | 127,221 | 145,327 | |
24 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,317 | 2,957 | 3,478 | 5,990 | 9,806 | 5,115 | 1,640 | |
25 |
1.1m | 1.2m | 1.3m | 1.4m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
360,000 | 360,000 | 4.1m | 5.0m | 5.0m | 5,000 | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
29/58 |
10.1m | 9.1m | 11.3m | 13.6m | 13.2m | 3.9m | 2.2m | 12,111 | 100,338 | 106,347 | 111,331 | 81,026 | 87,433 | 89,021 | 81,751 | 66,262 | 77,680 | 152,670 | 71,297 | |
3 |
8.4m | 6.6m | 9.4m | 10.6m | 12.3m | 3.5m | 2.0m | - | 80,143 | 80,143 | 80,143 | - | - | - | - | - | - | - | - | |
30/36 |
8.4m | 6.6m | 9.4m | 10.6m | 12.3m | 3.5m | 2.0m | - | 80,143 | 80,143 | 80,143 | - | - | - | - | - | - | - | - | |
40/41 |
1.1m | 1.9m | 1.6m | 2.2m | 849,520 | 399,499 | 62,981 | 1,351 | 1,651 | 1,654 | 1,634 | 1,576 | 63,198 | 68,868 | 24,072 | 22,276 | 47,951 | 98,808 | 50,537 | |
40 |
49,117 | 875,339 | 536,262 | 1.3m | 32,723 | 318,000 | 39,274 | - | - | - | - | - | - | 20,315 | 23,215 | 22,270 | 20,451 | 65,799 | 50,525 | |
41 |
1.0m | 1.0m | 1.0m | 823,800 | 816,797 | 81,499 | 23,707 | 1,351 | 1,651 | 1,654 | 1,634 | 1,576 | 63,198 | 48,553 | 857 | 7 | 27,500 | 33,009 | 13 | |
54/58 |
472,861 | 460,668 | 202,622 | 730,719 | 6,644 | 4,920 | 19,928 | 10,761 | 18,544 | 24,550 | 29,554 | 79,450 | 24,235 | 20,153 | 57,679 | 43,986 | 28,156 | 53,862 | 20,760 | |
490/1 |
160,389 | 130,335 | 98,334 | 112,414 | 41,599 | 14,225 | 45,709 | - | - | - | - | - | - | - | - | - | 1,573 | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
16.0m | 15.2m | 19.4m | 22.7m | 22.5m | 5.8m | 4.3m | 12,111 | 100,338 | 106,347 | 111,331 | 81,026 | 88,749 | 95,718 | 93,968 | 105,781 | 167,861 | 285,006 | 218,263 | |
10/15 |
-165,831 | 665,504 | 955,226 | -637,941 | -924,947 | -348,829 | -152,077 | -51,363 | 34,911 | 42,769 | 47,225 | 80,548 | 81,217 | 88,944 | 93,425 | 96,281 | 117,731 | 110,838 | 203,209 | |
10/11 |
75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | |
10 |
75,000 | 75,000 | 75,000 | 75,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | |
13 |
7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | |
130/1 |
7,500 | 7,500 | 7,500 | 7,500 | 7,500 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 | |
14 |
-248,331 | 583,004 | 872,726 | -720,441 | -1.0m | -431,329 | -234,577 | -133,863 | -47,589 | -39,731 | -35,275 | -1,952 | -1,283 | 6,444 | 10,925 | 13,781 | 35,231 | 28,338 | 120,709 | |
17/49 |
16.1m | 14.5m | 18.4m | 23.3m | 23.4m | 6.2m | 4.5m | 63,475 | 65,427 | 63,578 | 64,107 | 478 | 7,533 | 6,774 | 543 | 9,500 | 50,130 | 174,168 | 15,054 | |
17 |
3.3m | 2.1m | 5.0m | 8.3m | 10.5m | 3.4m | 1.4m | - | - | - | - | - | - | - | - | - | - | - | - | |
170/4 |
3.3m | 2.1m | 5.0m | 8.3m | 10.5m | 3.4m | 1.4m | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
11.4m | 10.6m | 12.6m | 14.4m | 12.6m | 2.6m | 3.0m | 61,626 | 61,729 | 61,729 | 63,408 | 478 | 7,533 | 6,774 | - | 9,500 | 49,749 | 173,801 | 15,054 | |
42 |
2.1m | 1.1m | 300,132 | 378,493 | 362,679 | 181,183 | 180,568 | - | - | - | - | - | - | - | - | - | - | - | - | |
43 |
- | - | - | - | - | 0 | 1.4m | - | - | - | - | - | - | - | - | - | - | - | - | |
430/8 |
- | - | - | - | - | 0 | 1.4m | - | - | - | - | - | - | - | - | - | - | - | - | |
44 |
237,185 | 233,937 | 363,596 | 875,407 | 1.2m | 223,052 | 134,196 | - | - | 103 | 1,782 | 478 | - | 1,664 | - | 8,936 | 8,052 | 8,697 | 18 | |
440/4 |
237,185 | 233,937 | 363,596 | 875,407 | 1.2m | 223,052 | 134,196 | - | - | 103 | 1,782 | 478 | - | 1,664 | - | 8,936 | 8,052 | 8,697 | 18 | |
46 |
0 | 7,195 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
45 |
62,662 | 67,414 | 0 | 318,418 | 0 | 4,469 | - | - | - | - | - | - | - | 5,110 | - | 564 | 1,697 | 25,104 | 15,036 | |
450/3 |
62,662 | 67,414 | 0 | 318,418 | 0 | 4,469 | - | - | - | - | - | - | - | 2,050 | - | 564 | 1,697 | 15,549 | 5,190 | |
454/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 3,060 | - | - | - | 9,555 | 9,846 | |
47/48 |
9.0m | 9.2m | 11.9m | 12.8m | 11.1m | 2.2m | 1.3m | 61,626 | 61,729 | 61,626 | 61,626 | - | 7,533 | - | - | - | 40,000 | 140,000 | - | |
492/3 |
1.5m | 1.8m | 833,003 | 619,844 | 234,481 | 124,621 | 73,533 | 1,849 | 3,698 | 1,849 | 699 | - | - | - | 543 | - | 381 | 366 | - | |
| Income statement | ||||||||||||||||||||
70/76A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 16,341 | - | 208,987 | 226,703 | 86,137 | |
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 13,500 | - | 205,216 | 223,166 | 86,137 | |
76A |
56,888 | - | - | - | 0 | 15,923 | - | - | - | - | - | 3,083 | - | 2,000 | - | - | - | - | - | |
9900 |
618,377 | 1.5m | 2.1m | 1.2m | 116,085 | 206,872 | 27,837 | -3,854 | -5,882 | -2,516 | -32,370 | -3,666 | -1,654 | 19,987 | - | 30,659 | - | - | - | |
60/66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 19,036 | - | 149,502 | 178,946 | 135,186 | |
60 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 14,424 | 19,402 | - | |
600/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 14,424 | 19,402 | - | |
61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 10,723 | - | 54,188 | 73,714 | 39,686 | |
62 |
- | - | - | - | - | - | - | - | - | - | - | - | 118 | 11,822 | -296 | 212 | 29,806 | 40,354 | 50,891 | |
630 |
198,332 | 236,742 | 138,310 | 137,511 | 225,753 | 83,256 | 40,522 | - | - | - | - | - | 5,380 | 7,715 | 7,561 | 50,662 | 49,812 | 44,217 | 43,805 | |
631/4 |
593,680 | - | - | - | - | - | - | 80,143 | - | - | - | - | - | - | - | - | - | - | - | |
640/8 |
130,479 | 166,763 | 166,895 | 126,512 | 101,880 | 106,432 | 56,933 | 405 | 103 | 103 | 209 | - | 650 | 6,845 | 1,047 | 1,139 | 1,271 | 1,259 | 804 | |
9901 |
-304,115 | 1.1m | 1.8m | 922,132 | -211,548 | 17,184 | -69,617 | -84,402 | -5,985 | -2,619 | -32,579 | -3,666 | -7,802 | -6,396 | -2,695 | -21,354 | 59,486 | 47,756 | -49,049 | |
75/76B |
60,395 | 885,779 | 1.6m | 39,009 | 7,836 | 1,508 | 27 | - | - | 13 | 42 | 17 | 233 | 60 | 35 | 45 | 108 | 132 | 84 | |
75 |
60,395 | 885,779 | 1.6m | 39,009 | 7,836 | 1,508 | 27 | - | - | 13 | 42 | 17 | 233 | 60 | 35 | 45 | 108 | 132 | 84 | |
751 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 35 | - | 108 | 62 | 84 | |
752/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 70 | - | |
65/66B |
587,615 | 2.3m | 1.7m | 674,135 | 372,405 | 215,445 | 31,123 | 1,873 | 1,873 | 1,849 | 786 | 102 | 158 | 146 | 196 | 289 | 185 | 260 | 375 | |
65 |
587,615 | 1.4m | 848,281 | 674,135 | 372,405 | 215,445 | 31,123 | 1,873 | 1,873 | 1,849 | 786 | 102 | 158 | 146 | 196 | 289 | 185 | 260 | 375 | |
650 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 85 | - | 76 | 157 | 209 | |
652/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 110 | - | 109 | 103 | 166 | |
66B |
0 | 880,000 | 900,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9903 |
-831,335 | -290,504 | 1.7m | 287,006 | -576,118 | -196,752 | -100,713 | -86,275 | -7,857 | -4,456 | -33,323 | -669 | -7,727 | -4,482 | -2,856 | -21,598 | 59,409 | 47,629 | -49,340 | |
67/77 |
0 | -782 | 81,000 | - | - | - | - | - | - | - | - | - | - | - | - | -148 | 12,516 | - | - | |
670/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 12,516 | - | - | |
9904 |
-831,335 | -289,722 | 1.6m | 287,006 | -576,118 | -196,752 | -100,713 | -86,275 | -7,857 | -4,456 | -33,323 | -669 | -7,727 | -4,482 | -2,856 | -21,450 | 46,893 | 47,629 | -49,340 | |
9905 |
-831,335 | -289,722 | 1.6m | 287,006 | -576,118 | -196,752 | -100,713 | -86,275 | -7,857 | -4,456 | -33,323 | -669 | -7,727 | -4,482 | -2,856 | -21,450 | 46,893 | 47,629 | -49,340 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-248,331 | 583,004 | 872,726 | -720,441 | -1.0m | -431,329 | -234,577 | -133,863 | -47,589 | -39,731 | -35,275 | -1,952 | -1,283 | 6,444 | 10,925 | 13,781 | 75,231 | 168,338 | 120,709 | |
14P |
583,004 | 872,726 | -720,441 | -1.0m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 40,000 | 140,000 | - | |
694 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 40,000 | 140,000 | - | |
| Social balance sheet | ||||||||||||||||||||
9087 |
0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | 0.3 | - | - | 1 | 1 | 1 | |
Hours worked1013 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 508 | - | - | 962 | 1,176 | 1,315 | |
| Document | ||||||||||||||||||||
The accounts for 13 older financial years (1993-2006) were filed as documents without figures as data, scans for example.
The notes to these accounts have 19 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 27-07-2026 | 2026-00359120 | |
| 31-12-2024 | abbreviated format | 10-07-2025 | 2025-00276407 | |
| 30-06-2023 | abbreviated format | 17-01-2024 | 2024-00003743 | |
| 30-06-2022 | abbreviated format | 05-01-2023 | 2023-20556329 | |
| 30-06-2021 | abbreviated format | 28-01-2022 | 2022-03200173 | |
| 30-06-2020 | abbreviated format | 28-01-2021 | 2021-02700340 | |
| 30-06-2019 | abbreviated format | 29-01-2020 | 2020-02900040 | |
| 30-06-2018 | micro format | 14-11-2018 | 2018-72000517 | |
| 30-06-2017 | micro format | 02-02-2018 | 2018-03900031 | |
| 30-06-2016 | abbreviated format | 03-01-2017 | 2017-00100097 | |
| 30-06-2015 | abbreviated format | 26-01-2016 | 2016-02500320 | |
| 30-06-2014 | abbreviated format | 28-01-2015 | 2015-02400288 | |
| 30-06-2013 | abbreviated format | 23-12-2013 | 2013-69600442 | |
| 30-06-2012 | abbreviated format | 10-01-2013 | 2013-00700509 | |
| 30-06-2011 | full format | 09-01-2012 | 2012-00700296 | |
| 30-06-2010 | abbreviated format | 07-02-2011 | 2011-02800052 | |
| 30-06-2009 | full format | 29-01-2010 | 2010-03400500 | |
| 30-06-2008 | full format | 15-12-2008 | 2008-85300187 | |
| 30-06-2007 | full format | 17-01-2008 | 2008-01700398 | |
| 30-06-2006 | full format | 22-12-2006 | 2006-92100023 | |
| 30-06-2005 | full format | 06-02-2006 | 2006-03700129 | |
| 30-06-2004 | full format | 27-12-2004 | 2004-87300199 | |
| 31-12-2002 | full format | 17-06-2003 | 2003-23900125 | |
| 31-12-2001 | full format | 24-06-2002 | 2002-24300183 | |
| 31-12-2000 | full format | 12-07-2001 | 2001-36400225 | |
| 31-12-1999 | abbreviated format | 26-06-2000 | 2000-27700003 | |
| 31-12-1998 | abbreviated format | 16-06-1999 | 1999-18202482 | |
| 31-12-1997 | abbreviated format | 10-06-1998 | 1998-15402140 | |
| 31-12-1996 | abbreviated format | 18-06-1997 | 1997-16902111 | |
| 31-12-1995 | abbreviated format | 25-06-1996 | 1996-21502332 | |
| 31-12-1994 | abbreviated format | 15-06-1995 | 1995-24404002 | |
| 31-12-1993 | abbreviated format | 21-06-1994 | 1994-17804678 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -105,783 | 1.4m | 2.0m | 1.1m | 14,205 | 100,440 | -29,095 | - | - | - | - | - | -2,422 | 1,319 | 4,866 | 29,308 | 109,298 | 91,973 | -5,244 | ||
| -633,004 | -52,980 | 1.7m | 424,517 | -350,364 | -113,497 | -60,192 | - | - | - | - | - | -2,347 | 3,233 | 4,706 | 29,212 | 96,705 | 91,846 | -5,534 | ||
| 0 | 2.0m | 9,230 | 15,577 | 7.6m | 3,816 | 2.2m | - | - | - | - | - | 0 | 2,194 | -19,740 | 0 | 7,657 | 29,586 | 2,455 | ||
| 12,193 | 258,046 | -528,097 | 724,076 | 1,723 | -15,008 | 9,167 | -7,783 | -6,006 | -5,005 | -49,896 | 55,216 | 4,081 | -37,525 | 13,693 | 15,829 | -25,706 | 33,102 | - | ||
| -1.3m | -1.5m | -1.3m | -821,501 | 604,057 | 1.3m | -815,548 | -49,515 | 38,609 | 44,618 | 47,923 | 80,548 | 79,900 | 82,247 | - | 56,762 | 27,931 | -21,131 | 56,243 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | -20.0% | - | 29.0% | 21.4% | -56.9% | ||
| -1.0% | 4.4% | 4.9% | -2.8% | -4.1% | -6.0% | -3.5% | -424.1% | 34.8% | 40.2% | 42.4% | 99.4% | 91.5% | 92.9% | 99.4% | 91.0% | 70.1% | 38.9% | 93.1% | ||
| 0.88 | 0.86 | 0.90 | 0.94 | 1.05 | 1.48 | 0.73 | 0.20 | 1.63 | 1.72 | 1.76 | - | 11.61 | 13.14 | - | 6.98 | 1.56 | 0.88 | 4.74 | ||
| 0.15 | 0.23 | 0.15 | 0.21 | 0.07 | 0.16 | 0.04 | 0.20 | 0.33 | 0.42 | 0.49 | - | 11.61 | 13.14 | - | 6.98 | 1.56 | 0.88 | 4.74 | ||
| - | 21.84 | 19.28 | - | - | - | - | - | 1.87 | 1.49 | 1.36 | 0.01 | 0.09 | 0.08 | 0.01 | 0.10 | 0.43 | 1.57 | 0.07 | ||
| - | -43.5% | 166.8% | - | - | - | - | - | -22.5% | -10.4% | -70.6% | -0.8% | -9.5% | -5.0% | -3.1% | -22.3% | 39.8% | 43.0% | -24.3% | ||
| -5.2% | -1.9% | 8.2% | 1.3% | -2.6% | -3.4% | -2.3% | -712.3% | -7.8% | -4.2% | -29.9% | -0.8% | -8.7% | -4.7% | -3.0% | -20.3% | 27.9% | 16.7% | -22.6% | ||
| -0.18 | 0.96 | 2.32 | 1.57 | - | - | - | - | - | - | - | - | - | - | 57.11 | - | over 100 | over 100 | -25.09 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 628 days | - | 36 days | 108 days | 214 days | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 43 days | 34 days | 0 days |
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €5.2m | €2.8m | €4.5m | €7.7m |
| Mortgages, amount registered | €27,500 | €27,500 | €27,500 | €27,500 |
| €8.8m | €5.2m | €9.5m | €10.4m | |
| Carrying value of the mortgaged assets | €9.4m | €9.1m | €8.0m | €6.5m |
| Carrying value of the other pledged assets | - | - | - | €2.1m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €2.0m | €9,230 | €15,577 |
| €198,332 | €236,742 | €138,310 | €137,511 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €304,115, after a profit of €1.1m in 2024. It is the lowest result since 2007.
Equity is negative. Debt (€16.1m) exceeds the balance-sheet total (€16.0m).
Further up the chainGlobal Merrill & Piedmont 100%
Source: lists of holdings in the owners' accounts
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
Part of the group Global Merrill & Piedmont Group, risk and exposure| GLOBALINDUS
registered office since 03-05-2006 · founded in 2006 |
turnover €6.4m (2025) 0879.020.730 |
| GLOBAL NEXUS
registered office since 08-11-2006 · founded in 2006 · group Global Merrill & Piedmont |
turnover €3.5m (2025) 0884.839.740 |
| GLOBAL LIFE 4
registered office since 16-03-2016 · founded in 2016 |
total assets €33.1m (2025) 0649.988.090 |
| Global Merrill & Piedmont
registered office since 18-12-2007 · founded in 2007 |
total assets €28.5m (2025) 0891.645.180 |
| Global Bazadaise
registered office since 01-06-1951 · founded in 1951 · group Global Merrill & Piedmont |
total assets €19.4m (2025) 0405.152.073 |
| Global Brugge Station
registered office since 27-02-2023 · founded in 2023 · negative equity (2025) · group GLOBALINDUS |
total assets €18.8m (2025) 0798.902.193 |
| DEJAEGHER
registered office since 15-01-2002 · founded in 2000 · negative equity (2025) · group Global Merrill & Piedmont |
total assets €13.6m (2025) 0473.415.626 |
| Global Jordan & Freeman
registered office since 07-05-2013 · founded in 2013 |
turnover €8.2m (2025) 0533.955.306 |
| GBS 11
registered office since 28-02-2023 · founded in 2023 · negative equity (2025) · group GLOBALINDUS |
total assets €7.7m (2025) 0798.935.154 |
| NEMADECO
registered office since 16-05-1991 · founded in 1991 · group GLOBALINDUS |
total assets €7.1m (2025) 0443.812.711 |
| Avantage Property Holding via Tjaka, at ABRAM until 2024 · Director · deed of 09-10-2023 founded in 2019 · negative equity (2025) · group ALIREC |
turnover €1.0m (2025) |
| Global Rex 3 via Tjaka, at ABRAM until 2024 · Director (not named in the articles) · deed of 30-11-2023 founded in 2023 · negative equity (2025) |
total assets €3.3m (2025) |
| GLOBAL IMPACT via Tjaka, at ABRAM until 2024 · Director · deed of 28-02-2024 founded in 1999 · negative equity (2025) · group Global Merrill & Piedmont |
total assets €1.4m (2025) |
| GLOBAL RENTAL PROPERTIES via Tjaka, at ABRAM until 2024 · Director · deed of 15-01-2024 founded in 1996 · group ALIREC |
turnover €4.4m (2025) |
| ALIREC via Tjaka, at ABRAM until 2024 · Director · deed of 28-12-2022 founded in 2022 |
total assets €48.5m (2025) |
| RESCOO via Tjaka, at ABRAM until 2024 · Director (not named in the articles) · deed of 22-05-2023 founded in 2023 · group ALIREC |
turnover €486,942 (2025) |
| Five Stars Properties via Tjaka, at ABRAM until 2024 · Director (not named in the articles) · deed of 03-05-2024 founded in 2024 · group ALIREC |
total assets €12.3m (2025) |
| Serax Immo via Tjaka, at ABRAM until 2024 · Director · deed of 29-11-2024 founded in 2015 · group BUYSSE & PARTNERS SMART ASSETS |
turnover €1.4m (2025) |
| EUROPAL-LOGISTICS via Tjaka, at ABRAM until 2024 · Director (not named in the articles) · deed of 07-04-2023 founded in 1993 · group ALIREC |
total assets €8.7m (2025) |
| GO Sea Belgium via Tjaka, at ABRAM until 2024 · Class B director · deed of 11-05-2026 founded in 2019 |
total assets €8.6m (2019) |
| WBC via Tjaka, at ABRAM until 2024 · Director · deed of 03-10-2024 founded in 2020 · group ALIREC |
turnover €847,987 (2025) |
| PROJECT 2025 via European Estate Management (at ABRAM until 2024) and Tjaka (at ABRAM until 2024) · Director · deed of 12-01-2022 founded in 2011 |
total assets €5.9m (2025) |
| THEUMA VASTGOED via Tjaka, at ABRAM until 2024 · Director · deed of 27-12-2021 founded in 2001 · group ALIREC |
turnover €1.9m (2025) |
| Tompouce via Tjaka, at ABRAM until 2024 · Director · deed of 21-09-2023 founded in 2023 |
total assets €3.5m (2025) |
| SAX LOGISTICS via Tjaka, at ABRAM until 2024 · Director · deed of 11-06-2026 founded in 2001 · group ROBELI |
total assets €3.5m (2025) |
| Alkove via Tjaka, at ABRAM until 2024 · Director · deed of 07-02-2022 founded in 1980 · group ALIREC |
turnover €364,789 (2025) |
| GLOBAL RENTAL PROPERTIES II via Tjaka, at ABRAM until 2024 · Director · deed of 09-10-2023 founded in 1994 · group ALIREC |
turnover €310,260 (2025) |
| SIRIUS PROJECTS via Tjaka, at ABRAM until 2024 · Director (not named in the articles) · deed of 03-02-2026 founded in 2011 · group ALIREC |
turnover €342,034 (2025) |
| Global Estate Services founded in 2008 · group Tjaka |
15 FTE (2025) |
| Lanson Industries Plant I via Tjaka, at ABRAM until 2024 · Director · deed of 19-07-2022 founded in 1980 · group ALIREC |
turnover €553,258 (2025) |
| FIBRIMMO via Tjaka, at ABRAM until 2024 · Director · deed of 20-05-2022 founded in 1996 · group ALIREC |
turnover €505,991 (2025) |
| Immo Genics via Tjaka, at ABRAM until 2024 · Director · deed of 17-04-2025 founded in 1989 · group ALIREC |
turnover €392,575 (2025) |
| Rederij De Lamme Goedzak via Tjaka, at ABRAM until 2024 · Director · deed of 08-02-2023 founded in 2023 · group Tjaka |
1.4 FTE (2025) |
| KATELIJNE via K-Drive, at ABRAM until 2024 · Director · deed of 11-09-2026 founded in 2007 |
turnover €21,125 (2025) |
| ABC eCloud via Tjaka, at ABRAM until 2024 · Director (not named in the articles) · deed of 31-05-2023 founded in 2023 |
total assets €9,293 (2025) |
| Damme Art via Tjaka, at ABRAM until 2024 · Director · deed of 18-05-2026 |
founded in 2026 |
| Mechelen C Invest via European Estate Management, at ABRAM until 2024 · Director (not named in the articles) · deed of 17-09-2025 |
founded in 2025 |
| OCU via K-Drive, at ABRAM until 2024 · Director (not named in the articles) · deed of 10-12-2025 |
founded in 2025 |
| Val Riant Invest via European Estate Management, at ABRAM until 2024 · Director · deed of 09-06-2020 No longer active |
total assets €85,102 (2024) |
| Investering en Promotie Maatschappij via European Estate Management, at ABRAM until 2024 · Director · deed of 13-08-2024 No longer active |
total assets €63,579 (2024) |
| HARMONY ENERGY via European Estate Management, at ABRAM until 2024 · Director (not named in the articles) · deed of 15-03-2024 No longer active |
total assets €62,592 (2025) |
| Baluvika No longer active |
total assets €3,001 (2025) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
All 19 environmental permit applications
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Kapellestraat 117 registered office 8020 Oostkamp | 02-10-1992 | 2.059.054.830 |
| 23-09-2026 | Under review | Aanpassen van verkeerswegen (tracéwijziging of verbreding); Het reliëf van de bodem aanmerkelijk wijzigen; Hoogstammige bomen vellen die geen deel uitmaken van een bos; Verwijderen van vrijstaande gebouwen Subdivision · project 2026083195 | Provincie West-Vlaanderen |
| 16-02-2026 | Granted | Bouwen of herbouwen; Het reliëf van de bodem aanmerkelijk wijzigen; Nieuwbouw of aanleggen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Verwijderen van vrijstaande gebouwen submitted 28-04-2025 · project 2025017349 | Beveren-Kruibeke-Zwijndrecht |
| 12-02-2025 | Discontinued | Bouwen of herbouwen; Het reliëf van de bodem aanmerkelijk wijzigen; Nieuwbouw of aanleggen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Verwijderen van vrijstaande gebouwen submitted 31-05-2024 · project 2024071558 | Departement Omgeving |
| 23-05-2024 | Refused | Aanleg van nieuwe verkeersweg; Het reliëf van de bodem aanmerkelijk wijzigen submitted 14-03-2023 · Subdivision · project 2023034511 | Provincie West-Vlaanderen |
| 23-05-2024 | Refused | Bouwen of herbouwen; Gevel-, dak-, instandhoudings- en renovatiewerken binnen een gebouw, zonder volume- of oppervlaktewijziging; Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande gebouwen submitted 14-03-2023 · project 2023034103 | Provincie West-Vlaanderen |
| 22-05-2024 | Discontinued | Bouwen of herbouwen; Het reliëf van de bodem aanmerkelijk wijzigen; Nieuwbouw of aanleggen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Verwijderen van vrijstaande gebouwen submitted 28-09-2023 · project 2023128717 | Departement Omgeving |
| 21-11-2023 | Granted | Bouwen of herbouwen; Gevel-, dak-, instandhoudings- en renovatiewerken binnen een gebouw, zonder volume- of oppervlaktewijziging; Nieuwbouw of aanleggen; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen; Verwijderen van vrijstaande gebouwen submitted 17-05-2023 · project 2023058897 | Ichtegem |
| 16-02-2023 | Discontinued | Bouwen of herbouwen; Gevel-, dak-, instandhoudings- en renovatiewerken binnen een gebouw, zonder volume- of oppervlaktewijziging; Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande gebouwen submitted 20-01-2023 · project 2023007632 | Wevelgem |
| 13-10-2022 | Granted | Het reliëf van de bodem aanmerkelijk wijzigen submitted 08-07-2022 · project 2022096662 | Staden |
| 23-12-2021 | Granted | Bouwen of herbouwen submitted 02-06-2021 · project 2021051014 | Brugge |
The 10 most recent of 19 applications.
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31403F0109/00G000 | 10.4 ha | 1 · 312 m² | 28.8 m · 2 |
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