AHP PROPERTIES
ActiveSummary
AHP PROPERTIES has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €266,614 and a net result of €33,931. Equity is shrinking by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 55% of 4616 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+2
Solvency70▲+7
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity short (current ratio 0.7 against 0.53 in 2024; short-term debt: 19.6% and cash: 10.2% of total assets), and 55.5% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.5%
Return on assets
5.7%
Age of the figures
9 mo
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 · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €266,614
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
24 d early
2023
2 d early
2022
85 d late
2021
18 d late
2020
54 d late
2019
105 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 38 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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. Usually files around 18 August (4 of the last 5 filed years within 42 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€33,931▲ 41.2%
2024 · €24,033
Working capital
-€34,941▲ 56.9%
2024 · -€81,107
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€13,739▼ 75.2%€11,916▼ 13.3%€44,171▲ 271%€32,548▼ 26.3%€46,072▲ 41.6%
Net result€390within the sector's middle half▼ 98.5%€8,902within the sector's middle half▲ 2,184%€32,183within the sector's middle half▲ 262%€24,033within the sector's middle half▼ 25.3%€33,931within the sector's middle half▲ 41.2%
Equity€647,566within the sector's middle half▲ 0.1%€656,468within the sector's middle half▲ 1.4%€208,650within the sector's middle half▼ 68.2%€232,684within the sector's middle half▲ 11.5%€266,614within the sector's middle half▲ 14.6%
Total assets€5.3mwithin the sector's middle half▲ 3.9%€5.1mwithin the sector's middle half▼ 3.3%€1.1mwithin the sector's middle half▼ 79.1%€619,412below the sector's middle half▼ 42.4%€598,597below the sector's middle half▼ 3.4%
Debt€4.4m▲ 4.5%€4.3m▼ 4.1%€651,775▼ 84.7%€171,938▼ 73.6%€117,192▼ 31.8%
Working capital€856,206within the sector's middle half▼ 3.4%€865,108within the sector's middle half▲ 1.0%-€117,374within the sector's middle half-€81,107within the sector's middle half▲ 30.9%-€34,941within the sector's middle half▲ 56.9%
Solvency12.2%within the sector's middle half▼ 0.5pp12.8%within the sector's middle half▲ 0.6pp19.4%within the sector's middle half▲ 6.6pp37.6%within the sector's middle half▲ 18.2pp44.5%within the sector's middle half▲ 7.0pp
Current ratio1.19within the sector's middle half▼ 0.021.20within the sector's middle half▲ 0.010.82within the sector's middle half▼ 0.380.53within the sector's middle half▼ 0.290.70within the sector's middle half▲ 0.17
Return on assets (ROA)0.0%within the sector's middle half▼ 0.5pp0.2%within the sector's middle half▲ 0.2pp3.0%within the sector's middle half▲ 2.8pp3.9%within the sector's middle half▲ 0.9pp5.7%above the sector's middle half▲ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 42% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €598,597
Fixed assets
€516,346 ▼ 2.3%
Current assets
€82,251 ▼ 9.4%
Equity and liabilities €598,597
Equity
€266,614 ▲ 14.6%
Provisions
€214,790 =
Debt
€117,192 ▼ 31.8%
Debt's share of the balance-sheet total falls from 27.8% to 19.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€58,306▲
2024 · €44,782
Cash flow
€46,165▲
2024 · €36,268
Quick ratio
0.58▲
2024 · 0.45
Debt to equity
0.44▼
2024 · 0.74
ROE
12.7%▲
2024 · 10.3%
Interest coverage
193.77▲
2024 · 158.43
Debt ≤ 1 year
€117,192▼
2024 · €171,938
Income taxes
€11,840▲
2024 · €8,288
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,811 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.3%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,811 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €12,235 | €12,235 | €12,235 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €12,000 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €5,999 | - | - | - | - | - |
| Other operating charges640/8 | €978 | €1,572 | €4,637 | €6,428 | €6,418 | ▼ 0.2% |
| Gross operating margin9900 | €20,716 | €13,488 | €61,042 | €63,210 | €64,724 | ▲ 2.4% |
| Operating profit (loss)9901 | €13,739 | €11,916 | €44,171 | €32,548 | €46,072 | ▲ 41.6% |
| Financial income75/76B | €127 | €666 | - | €57 | - | - |
| Recurring financial income75 | €127 | €666 | - | €57 | - | - |
| Financial charges65/66B | €13,485 | €346 | €288 | €283 | €301 | ▲ 6.5% |
| Recurring financial charges65 | €13,485 | €346 | €288 | €283 | €301 | ▲ 6.5% |
| Profit (loss) for the period before taxes9903 | €381 | €12,236 | €43,883 | €32,322 | €45,771 | ▲ 41.6% |
| Income taxes67/77 | -€9 | €3,334 | €11,700 | €8,288 | €11,840 | ▲ 42.9% |
| Profit (loss) for the period9904 | €390 | €8,902 | €32,183 | €24,033 | €33,931 | ▲ 41.2% |
| Profit (loss) for the period to be appropriated9905 | €390 | €8,902 | €32,183 | €24,033 | €33,931 | ▲ 41.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.3m | €5.1m | €1.1m | €619,412 | €598,597 | ▼ 3.4% |
| Fixed assets21/28 | €6,150 | €6,150 | €540,815 | €528,581 | €516,346 | ▼ 2.3% |
| Tangible fixed assets22/27 | - | - | €534,665 | €522,431 | €510,196 | ▼ 2.3% |
| Land and buildings22 | - | - | €534,665 | €522,431 | €510,196 | ▼ 2.3% |
| Financial fixed assets28 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Current assets29/58 | €5.3m | €5.1m | €534,400 | €90,831 | €82,251 | ▼ 9.4% |
| Stocks and contracts in progress3 | €4.7m | €4.7m | €26,000 | €14,000 | €14,000 | = |
| Stocks30/36 | €10,000 | €10,000 | €5,000 | €3,000 | €3,000 | = |
| Contracts in progress37 | €4.7m | €4.7m | €21,000 | €11,000 | €11,000 | = |
| Amounts receivable within one year40/41 | €2,739 | €10,815 | €13,273 | €14,264 | €6,971 | ▼ 51.1% |
| Trade receivables40 | €301 | €8,440 | €10,898 | €14,264 | €6,971 | ▼ 51.1% |
| Other amounts receivable41 | €2,438 | €2,375 | €2,375 | - | - | - |
| Cash at bank and in hand54/58 | €623,250 | €442,393 | €495,127 | €62,567 | €61,280 | ▼ 2.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.3m | €5.1m | €1.1m | €619,412 | €598,597 | ▼ 3.4% |
| Equity10/15 | €647,566 | €656,468 | €208,650 | €232,684 | €266,614 | ▲ 14.6% |
| Contributions10/11 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Capital10 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Issued capital100 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Reserves13 | €303,747 | €303,747 | €15,000 | €15,000 | €15,000 | = |
| Non-distributable reserves130/1 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Legal reserve130 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Distributable reserves133 | €288,747 | €288,747 | - | - | - | - |
| Profit (loss) carried forward14 | €193,819 | €202,721 | €43,650 | €67,684 | €101,614 | ▲ 50.1% |
| Provisions and deferred taxes16 | €214,790 | €214,790 | €214,790 | €214,790 | €214,790 | = |
| Provisions for liabilities and charges160/5 | €214,790 | €214,790 | €214,790 | €214,790 | €214,790 | = |
| Other liabilities and charges164/5 | €214,790 | €214,790 | €214,790 | €214,790 | €214,790 | = |
| Amounts payable17/49 | €4.4m | €4.3m | €651,775 | €171,938 | €117,192 | ▼ 31.8% |
| Amounts payable within one year42/48 | €4.4m | €4.3m | €651,775 | €171,938 | €117,192 | ▼ 31.8% |
| Trade debts44 | €225,921 | €160,130 | €153,448 | €152,629 | €105,001 | ▼ 31.2% |
| Suppliers440/4 | €225,921 | €160,130 | €140,364 | €152,629 | €105,001 | ▼ 31.2% |
| Bills of exchange payable441 | - | - | €13,084 | - | - | - |
| Advances received on contracts in progress46 | €4.1m | €4.1m | - | - | - | - |
| Taxes, remuneration and social security45 | €16,055 | €5,868 | €18,327 | €19,309 | €12,191 | ▼ 36.9% |
| Taxes450/3 | €16,055 | €5,868 | €18,327 | €19,309 | €12,191 | ▼ 36.9% |
| Other amounts payable47/48 | €126,881 | - | €480,000 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €390 | €8,902 | €32,183 | €24,033 | €33,931 | ▲ 41.2% |
| + Depreciation and write-downs630 | - | - | €12,235 | €12,235 | €12,235 | = |
| Operating cash flow (approximation) | €390 | €8,902 | €44,417 | €36,268 | €46,165 | ▲ 27.3% |
| Investment in fixed assets (approximation) | - | €0 | -€546,900 | €0 | €0 | - |
| Change in cash | - | -€180,857 | €52,735 | -€432,560 | -€1,287 | ▲ 99.7% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 85 days late
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 18 days late
2021
31-12
Financial
Weakest financial yearnet €390 ▼98.5%
Net result drops to €390, the lowest in the series; recovery starts the following year.
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 54 days late
2020
13-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 105 days late
2019
31-12
Financial
Highest result since 2018net €43,566 ▲8.2%
Net result €43,566, the highest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Waterloo · 1 establishment unit since 2011
Ground area
1.0 ha
Building footprint
1,772 m²
Volume, LiDAR
33,713 m³
Parcel 25763M0621/00F000, Wallonia · tallest building 22.9 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Drève Richelle 161, 1410 Waterloo
since 20112.205.593.423
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0621/00F000indicative | Wallonia | 1.0 ha | 1 · 1,772 m² | 22.9 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 ownersChain of control
- B2 REAL ESTATE
- AHP PROPERTIES
Highest known parent: B2 REAL ESTATE. The sources do not say who stands above it.
Owners 2
- B2 REAL ESTATEparent100%
-
50%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,695 companies in sector 68121 we hold annual accounts for 7,392. 5,228 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
Founded18-11-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
96999Other personal services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0841224877
Also
9925:BE0841224877
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.