ALGERNON
ActiveSummary
ALGERNON has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €145,934 and a net result of -€7,031. Equity has been shrinking by about 3.5% per year since 2019. Its solvency ranks better than 49% of 11,259 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 13-12-1991 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201and 1 other
- Establishment unit
- 2.055.492.356 5100 Namur, since 06-01-1992
- Financial year end
- 31 December
- Peppol
- Reachable since 16-03-2026
Board and ownership
- ERPICUM Maude Anne YvetteDirector · since 08-07-2022
- ERPICUM Patrice Jean AndréDirector · since 09-08-2022
- Holdings
- Shares in 1 company WALFORM
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €7,336
- ▲ 22.8%
- Turnover
- ≈ €20,000
- estimated
- Loss
- €7,031
- ▼ 19.0%
- Equity
- €145,934
- ▼ 4.6%
- Total assets
- €487,274
- ▼ 4.8%
- 2025 accounts filed 61 days after the deadline
Score breakdownraises riskLast filed accounts filed 61 days late; 3 of the last 3 accounts lateLiquidity: current ratio 0.76, cash €6,003lowers riskFounded in 1991Size: total assets €487,274Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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, micro). It does better than 49% of them on solvency, 13% on liquidity, 53% on profitability and 35% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 20 days after 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.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 61 days after the deadline Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00537805.
Annual accounts 2025 filed on 30-09-2026 at the NBB all 34 filings
Every figure per financial year
The operating result for 2025 is a loss of €8,612, smaller than the loss of €10,329 in 2024.
The turnover shown is an estimate from the gross margin.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €6,809 | - | - |
| Depreciation and write-downs of the year | €34,621 | €22,025 | €12,548 | €12,067 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,541 | €30,298 | €29,656 | €34,621 | €22,025 | €12,548 | €12,067 | ▼ 3.8% |
| Other operating charges640/8 | - | - | - | €3,097 | €3,654 | €3,755 | €3,881 | ▲ 3.4% |
| Non-recurring operating charges66A | - | - | - | - | €479 | - | - | - |
| Gross operating margin9900 | €26,980 | €22,032 | €25,107 | €32,152 | €19,431 | €5,974 | €7,336 | ▲ 22.8% |
| Operating profit (loss)9901 | -€6,043 | -€10,709 | -€7,058 | -€5,567 | -€6,726 | -€10,329 | -€8,612 | ▲ 16.6% |
| Financial income75/76B | - | - | - | €2,673 | €2,077 | €2,012 | €1,947 | ▼ 3.2% |
| Recurring financial income75 | €1,005 | €2,202 | €2,211 | €2,673 | €2,077 | €2,012 | €1,947 | ▼ 3.2% |
| Financial charges65/66B | - | - | - | €347 | €357 | €364 | €366 | ▲ 0.7% |
| Recurring financial charges65 | €1,063 | €445 | €290 | €347 | €357 | €364 | €366 | ▲ 0.7% |
| Profit (loss) for the period before taxes9903 | -€6,102 | -€8,952 | -€5,136 | -€3,241 | -€5,007 | -€8,681 | -€7,031 | ▲ 19.0% |
| Profit (loss) for the period9904 | -€6,102 | -€8,952 | -€5,136 | -€3,241 | -€5,007 | -€8,681 | -€7,031 | ▲ 19.0% |
| Profit (loss) for the period to be appropriated9905 | -€6,102 | -€8,952 | -€5,136 | -€3,241 | -€5,007 | -€8,681 | -€7,031 | ▲ 19.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €632,795 | €599,965 | €582,975 | €556,520 | €533,539 | €511,916 | €487,274 | ▼ 4.8% |
| Fixed assets21/28 | €360,428 | €330,130 | €302,163 | €267,542 | €251,847 | €239,299 | €227,232 | ▼ 5.0% |
| Tangible fixed assets22/27 | €338,928 | €308,630 | €280,663 | €246,042 | €230,347 | €217,799 | €205,732 | ▼ 5.5% |
| Land and buildings22 | - | - | - | €230,772 | €213,272 | €201,598 | €190,404 | ▼ 5.6% |
| Furniture and vehicles24 | - | - | - | - | €1,805 | €931 | €58 | ▼ 93.8% |
| Other tangible fixed assets26 | - | - | - | €15,270 | €15,270 | €15,270 | €15,270 | = |
| Financial fixed assets28 | €21,500 | €21,500 | €21,500 | €21,500 | €21,500 | €21,500 | €21,500 | = |
| Current assets29/58 | €272,367 | €269,835 | €280,812 | €288,978 | €281,691 | €272,617 | €260,042 | ▼ 4.6% |
| Amounts receivable after more than one year29 | - | - | - | €205,640 | €199,499 | €193,358 | €187,429 | ▼ 3.1% |
| Other amounts receivable291 | - | - | - | €205,640 | €199,499 | €193,358 | €187,429 | ▼ 3.1% |
| Amounts receivable within one year40/41 | €197,953 | €36,842 | €40,727 | €45,962 | €51,551 | €54,181 | €50,713 | ▼ 6.4% |
| Trade receivables40 | - | - | - | €8,750 | €11,250 | €11,250 | €8,750 | ▼ 22.2% |
| Other amounts receivable41 | - | - | - | €37,212 | €40,301 | €42,931 | €41,963 | ▼ 2.3% |
| Cash at bank and in hand54/58 | €23,902 | €4,078 | €15,979 | €23,965 | €14,956 | €9,013 | €6,003 | ▼ 33.4% |
| Deferred charges and accrued income490/1 | - | - | - | €13,410 | €15,685 | €16,065 | €15,898 | ▼ 1.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €632,795 | €599,965 | €582,975 | €556,520 | €533,539 | €511,916 | €487,274 | ▼ 4.8% |
| Equity10/15 | €183,982 | €175,030 | €169,894 | €166,653 | €161,647 | €152,966 | €145,934 | ▼ 4.6% |
| Contributions10/11 | €274,368 | - | - | €274,368 | €274,368 | €274,368 | €274,368 | = |
| Reserves13 | €5,986 | €5,986 | €5,986 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€96,372 | -€105,324 | -€110,461 | -€107,715 | -€112,721 | -€121,402 | -€128,434 | ▼ 5.8% |
| Amounts payable17/49 | €448,813 | €424,934 | €413,081 | €389,866 | €371,892 | €358,951 | €341,339 | ▼ 4.9% |
| Amounts payable within one year42/48 | €448,792 | €424,875 | €413,018 | €389,798 | €371,817 | €358,866 | €341,259 | ▼ 4.9% |
| Trade debts44 | €2,471 | €2,469 | €2,580 | €3,352 | €861 | €609 | €2,691 | ▲ 342% |
| Suppliers440/4 | - | - | - | €3,352 | €861 | €609 | €2,691 | ▲ 342% |
| Other amounts payable47/48 | - | - | - | €386,445 | €370,956 | €358,257 | €338,568 | ▼ 5.5% |
| Accrued charges and deferred income492/3 | - | - | - | €69 | €75 | €84 | €80 | ▼ 5.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,102 | -€8,952 | -€5,136 | -€3,241 | -€5,007 | -€8,681 | -€7,031 | ▲ 19.0% |
| + Depreciation and write-downs630 | €30,541 | €30,298 | €29,656 | €34,621 | €22,025 | €12,548 | €12,067 | ▼ 3.8% |
| Operating cash flow (approximation) | €24,439 | €21,346 | €24,520 | €31,380 | €17,018 | €3,867 | €5,036 | ▲ 30.2% |
| Investment in fixed assets (approximation) | - | €0 | -€1,689 | €0 | -€6,330 | €0 | €0 | - |
| Change in cash | - | -€19,823 | €11,900 | €7,986 | -€9,009 | -€5,944 | -€3,010 | ▲ 49.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,507 companies had the same profile as ALGERNON has now. Two years later, 96.4% were still going and 1.6% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALGERNON itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,507 companies, not a prediction for ALGERNON. 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.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-09-2026 | 2026-00537805 | |
| 31-12-2024 | full format | 29-09-2025 | 2025-00511580 | |
| 31-12-2023 | full format | 30-09-2024 | 2024-00486813 | |
| 31-12-2022 | full format | 29-09-2023 | 2023-00465305 | |
| 30-09-2021 | full format | 31-03-2022 | 2022-09800055 | |
| 30-09-2020 | full format | 30-03-2021 | 2021-09100066 | |
| 30-09-2019 | full format | 23-03-2020 | 2020-07300221 | |
| 30-09-2018 | full format | 28-03-2019 | 2019-08400368 | |
| 30-09-2017 | full format | 27-02-2018 | 2018-06000485 | |
| 30-09-2016 | full format | 27-03-2017 | 2017-07300589 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 22-08-2022 Capital stated in the deed · 10,068 shares
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ERPICUM Maude Anne Yvette |
|
| ERPICUM Patrice Jean André |
|
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- Sourceown accounts 2025Equity €1.6m Profit of €193,171 in 2025 (profit of €258,946 in 2024) Checked score 9410%
Connections & network
2 current directorsThe network starts from the directors of ALGERNON. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
22-08
Gazette deed
Change of role: ERPICUM Patrice Jean André, from manager to directorAppointment: ERPICUM Maude Anne Yvette (director) · Director discharge · Board rule13 points ▸
- Director resignation, ERPICUM Patrice Jean André (manager)
- Director discharge, ERPICUM Patrice Jean André
- Board rule, 2
- Director appointment, ERPICUM Patrice Jean André (director (not named in the articles))
- Director appointment, ERPICUM Maude Anne Yvette (director (not named in the articles))
- Registered office clause, “5100 Namur (Naninne), rue des Anémones”, 2 (deed in French)
- Power of attorney
- General meeting, “toutes ces résolutions, unanimité” (deed in French)
- Other provision, 1, “ordre du jour point 1 soumission au CSA et adaptation statuts” (deed in French)
- Other provision, 2, “suppression compte de capitaux propres statutairement indisponible” (deed in French)
- Other provision, 31-12-2022, 3
- Amendment of the articles
- The act holds 1 more point.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
8 activities
- L’achat,la vente de toutes valeurs mobilières et plus principalement d’actions,obligations ou titres généralement quelconques,côtés ou non en bourse
- La prise de participation financière dans des sociétés de droit belge ou étrangère
- La réalisation de toutes opérations immobilières et foncières et notamment l’achat,la vente,l’échange,la construction,la reconstruction,la location et la gérance et tous immeubles bâtis
- L’achat,la vente,l’échange,la mise en valeur,le lotissement,l’exploitation,la location et l’affermage de tous immeubles non bâtis
- Faire toutes opérations civiles,commerciales,mobilières,immobilières industrielles et financières se rapportant directement ou indirectement,en tout ou partie,à l’une ou l’autre branche de son objet ou de nature à en développer ou en faciliter la réalisation
- Effectuer tant pour elle-même que pour compte de tiers,tous travaux d’auditing,études,contrôles,surveillance,expertises,missions ou assistances en matière financière,administrative,fiscale,comptable,sociale et juridique ainsi que dans le domaine de la création,l’organisation,l’exploitation et le fonctionnement des entreprises au point de vue financier,administratif,commercial,technique ou autres
- Réaliser ses activités en Belgique et à l’étranger,soit directement,soit par l’entremise en tiers
- S’intéresser par toutes voies dans d’autres sociétés,entreprises ou associations existantes ou à créer,en Belgique ou à l’étranger,dont l’objet serait analogue ou connexe au sien ou susceptible de favoriser directement ou indirectement le développement de ses affaires
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92095B0131/00L000 | Wallonia | 1,868 m² | 1 · 434 m² | 8.9 m · 2 |