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B-DEVELOPMENT

Active
Public limited companyfounded 2001active for 25 yearsBritselei 19, 2000 Antwerpen, Belgium21 active companies are registered at this addressKBO/BCE: BE 0475.688.097
Summary

B-DEVELOPMENT has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.4m and a net result of -€1.4m. Equity is growing by about 11% per year across the filed financial years. Its solvency ranks better than 51% of 4,795 sector peers (NACE 68, financial year 2024). The computed 12-month bankruptcy probability is 1.3% (low).

Overview

Activity
Development of residential building projects
NACE 68121
1 site
Size
€3.4mturnover 2024
Staff
1 FTE
Equity
€6.4m
Loss
-€1.4m
Financial health
54 Fair Checked score 2024
Bankruptcy probabilitywithin 12 months
1.3%
Structure
Holdings
3
  • GOLDEN AGEDirector · permanent representative Israel BRODY
Accounts 81 days overdue3 of 24 deeds read
Why 54raises riskCapped at 59: a confirmed filing findingFigures for financial year 2024 (filed 17-06-2025)Liquidity: current ratio 1.33, cash €556,460Loss of €1.4m, the second in a row (financial year 2024)lowers riskSector: Real estate activities (NACE 68)Show the evidence

Checked score

Score 2024
54 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 33% of its sector peers (NACE 68, micro)
A confirmed filing finding caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2023
Average
Solvency 56-1
equity 31.4% of total assets
Liquidity 39+1
short-term debt 33.4% · cash 2.7%
Profitability 39-16
return on assets -6.9%
Bankruptcy probability, 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,601 companies, NACE 68, micro)
Last 24 months 11-2024: 0.4% 12-2024: 0.4%● unchanged vs 11-2024 01-2025: 0.4%● unchanged vs 12-2024 02-2025: 0.4%● unchanged vs 01-2025 03-2025: 0.4%● unchanged vs 02-2025 04-2025: 0.4%● unchanged vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 0.3%▼ -0.1 percentage points vs 06-2025 08-2025: 0.3%● unchanged vs 07-2025 09-2025: 0.3%● unchanged vs 08-2025 10-2025: 0.3%● unchanged vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025 02-2026: 0.3%● unchanged vs 01-2026lowest value 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.3%● unchanged vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.3%● unchanged vs 05-2026 07-2026: 0.3%● unchanged vs 06-2026 08-2026: 0.6%▲ +0.3 percentage points vs 07-2026 09-2026: 0.8%▲ +0.2 percentage points vs 08-2026 10-2026: 1.3%▲ +0.5 percentage points vs 09-2026highest value
Credit of up to €330,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity tight (current ratio 1.33, compared with 1.32 in 2023, below the usual 1.5; short-term debt: 33.4% and cash: 2.7% of total assets), and 68.6% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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): better than 50% on solvency, 31% on liquidity, 35% on profitability and 15% on growth.

The bankruptcy probability was computed on 19-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

Credit check for your own amount and term

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Signals

Seven signals.
lowers riskraises riskneutral
raises risk · Figures for financial year 2024 (filed 17-06-2025)
NBB · annual accounts
raises risk · Liquidity: current ratio 1.33, cash €556,460
NBB · annual accounts
lowers risk · Sector: Real estate activities (NACE 68)
KBO
raises risk · Loss of €1.4m, the second in a row (financial year 2024)
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024
Net result per financial year
192021222324
2019 to 2024 · latest year -€1.4m
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 81 days later.
NBB · 10 filings
Position against the passed deadline
31-12-2025 year end31-07-2026 deadline20-10-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-06-2025, 45 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
45 days early
2023
15 days early
2022
on the day
2021
117 days late
2020
74 days late
2019
2 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 22 days after the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignation: BVM – BOUW EN VASTGOED…Permanent representative: Claude Alfons LABEEUW…
  2. Annual accounts filedfinancial year 2024 · full…
  3. Appointments: BVM-BOUW EN VASTGOED MANAGEMENT (director)…Permanent representatives: LABEEUW Claude Alfons…

Financials · financial year 2024, full format

2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 20 October 2026.

Turnover
€3.4m▼ 53.1%
2023 · €7.1m
EBIT margin
-20.0%▼ 32.3pp
2023 · 12.4%
Net result
-€1.4m▼ 163,774%
2023 · -€861
Working capital
€2.3m▼ 17.5%
2023 · €2.8m
Trend over the years

2020 to 2024, 5 financial years 2019 to 2024, 6 financial years

The operating result turns negative in 2024: a loss of €669,542 after €884,786 in 2023, the lowest result in the available series.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Turnover€3.4m 2024 Operating result-€0.7m 2024 Net result-€1.4m 2024

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line201920202021202220232024
Turnover€7.2m€7.9m▲ 9.5%€7.1m▼ 9.9%€3.4m▼ 53.1%
Operating result€0.6m-€0.7m▲ 12.2%€0.6m▼ 18.7%€0.9m▲ 51.5%€0.9m▼ 0.6%-€0.7m
Net result€0.4m-€0.3mabove the sector's middle half▼ 3.3%€0.05mwithin the sector's middle half▼ 84.6%€0.05mwithin the sector's middle half▼ 0.1%-€0.001mwithin the sector's middle half-€1.4mbelow the sector's middle half▼ 163,774%
EBIT margin8.1%11.2%▲ 3.1pp12.4%▲ 1.2pp-20.0%▼ 32.3pp
Equity€2.5m-€2.9mabove the sector's middle half▲ 13.8%€7.8mabove the sector's middle half▲ 171%€7.8mabove the sector's middle half▲ 0.7%€7.8mabove the sector's middle half=€6.4mabove the sector's middle half▼ 18.0%
Total assets€10.9m-€11.7mabove the sector's middle half▲ 7.2%€36.5mabove the sector's middle half▲ 211%€34.4mabove the sector's middle half▼ 5.9%€24.5mabove the sector's middle half▼ 28.6%€20.5mabove the sector's middle half▼ 16.6%
Debt€8.4m-€8.9m▲ 5.3%€28.7m▲ 224%€26.5m▼ 7.7%€16.5m▼ 37.8%€13.8m▼ 16.2%
Working capital€0.3m--€3.1mbelow the sector's middle half-€1.0mbelow the sector's middle half▲ 66.8%-€0.5mbelow the sector's middle half▲ 48.0%€2.8mabove the sector's middle half€2.3mabove the sector's middle half▼ 17.5%
Solvency23.0%-24.4%within the sector's middle half▲ 1.4pp21.3%within the sector's middle half▼ 3.1pp22.8%within the sector's middle half▲ 1.5pp32.0%within the sector's middle half▲ 9.1pp31.4%within the sector's middle half▼ 0.5pp
Current ratio1.04-0.61within the sector's middle half▼ 0.430.95within the sector's middle half▲ 0.340.97within the sector's middle half▲ 0.021.32within the sector's middle half▲ 0.351.33within the sector's middle half▲ 0.02
Return on assets (ROA)3.3%-3.0%within the sector's middle half▼ 0.3pp0.1%within the sector's middle half▼ 2.8pp0.2%within the sector's middle half=0.0%within the sector's middle half▼ 0.2pp-6.9%below the sector's middle half▼ 6.9pp
Staff (FTE)2.8-3.1within the sector's middle half▲ 10.7%7.6within the sector's middle half▲ 145%6.4within the sector's middle half▼ 15.8%3.8within the sector's middle half▼ 40.6%1within the sector's middle half▼ 73.7%
above within below the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
  • 2021 Net result -85% on 2020. The previous financial year ran 18 months, this one 12. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €20.5m
Fixed assets €11.3m ▼ 13.0%
Current assets €9.1m ▼ 20.7%
Equity and liabilities €20.5m
Equity €6.4m ▼ 18.0%
Provisions €200,000 =
Debt €13.8m ▼ 16.2%
Debt's share of the balance-sheet total rises from 67.2% to 67.6%. Equity and debt are lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€544,264▼
2023 · €1.6m
Cash flow
-€197,083▼
2023 · €724,954
Quick ratio
1.04▲
2023 · 0.97
Debt to equity
2.15▲
2023 · 2.10
ROE
-21.9%▼
2023 · 0.0%
Interest coverage
0.76▼
2023 · 1.60
Debt ≤ 1 year
€6.8m▼
2023 · €8.7m
Debt > 1 year
€6.9m▼
2023 · €7.8m
Income taxes
€165,003▲
2023 · €65,567
Staff costs
€120,972▼
2023 · €418,933
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 12,322 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90.3% are still going.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a small loss
0.7% went bankrupt
8.6% stopped otherwise
90.3% still going

A further 0.5% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,472 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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 74.5% 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 12,322 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 92 lines
Balance sheet Code20232024
Assets
Total assets20/58€24.5m€20.5m▼
Formation expenses20€0-
Fixed assets21/28€13.0m€11.3m▼
Intangible fixed assets21€2.9m€1.7m▼
Tangible fixed assets22/27€1.3m€0.8m▼
Land and buildings22€1.3m€0.7m▼
Plant, machinery and equipment23€0.07m€0.06m▼
Furniture and vehicles24€0.007m€0.008m▲
Financial fixed assets28€8.8m€8.8m=
Affiliated companies280/1€8.6m€8.6m=
Participating interests280€8.6m€8.6m=
Other financial fixed assets284/8€0.1m€0.1m=
Amounts receivable and cash guarantees285/8€0.1m€0.1m=
Current assets29/58€11.5m€9.1m▼
Amounts receivable after more than one year29€3.4m€2.9m▼
Other amounts receivable291€3.4m€2.9m▼
Stocks and contracts in progress3€3.1m€2.0m▼
Stocks30/36€3.1m€2.0m▼
Property held for sale35€3.1m€2.0m▼
Amounts receivable within one year40/41€3.2m€2.9m▼
Trade receivables40€1.0m€0.7m▼
Other amounts receivable41€2.2m€2.2m▲
Cash at bank and in hand54/58€0.9m€0.6m▼
Deferred charges and accrued income490/1€0.9m€0.7m▼
Equity and liabilities
Total equity and liabilities10/49€24.5m€20.5m▼
Equity10/15€7.8m€6.4m▼
Contributions10/11€0.7m€0.7m=
Capital10€0.2m€0.2m=
Issued capital100€0.2m€0.2m=
Contributions outside capital11€0.5m€0.5m=
Share premium1100/10€0.5m€0.5m=
Other1109/19€0.02m€0.02m=
Reserves13€0.8m€0.8m=
Non-distributable reserves130/1€0.01m€0.01m=
Legal reserve130€0.01m€0.01m=
Reserves not available under the articles1311€0.002m€0.002m=
Distributable reserves133€0.8m€0.8m=
Profit (loss) carried forward14€6.3m€4.9m▼
Provisions and deferred taxes16€0.2m€0.2m=
Provisions for liabilities and charges160/5€0.2m€0.2m=
Other liabilities and charges164/5€0.2m€0.2m=
Amounts payable17/49€16.5m€13.8m▼
Amounts payable after more than one year17€7.8m€6.9m▼
Financial debts170/4€7.8m€6.9m▼
Unsubordinated bonds171€5.7m€4.8m▼
Credit institutions173€2.0m€2.1m▲
Other loans174€0.08m€0.08m▲
Amounts payable within one year42/48€8.7m€6.8m▼
Current portion of amounts payable after more than one year42€0.2m€0.2m▲
Financial debts43€4.9m€3.0m▼
Credit institutions430/8€4.7m€2.8m▼
Other loans439€0.2m€0.2m=
Trade debts44€2.1m€0.9m▼
Suppliers440/4€2.1m€0.9m▼
Taxes, remuneration and social security45€0.03m€0.3m▲
Taxes450/3€0.02m€0.2m▲
Remuneration and social security454/9€0.005m€0.02m▲
Other amounts payable47/48€1.5m€2.5m▲
Accrued charges and deferred income492/3€0€0.04m▲
Income statement Code20232024
Operating income70/76A€7.2m€3.6m▼
Turnover70€7.1m€3.4m▼
Other operating income74€0.07m€0.08m▲
Non-recurring operating income76A€0.03m€0.2m▲
Operating charges60/66A€6.4m€4.3m▼
Goods for resale, raw materials and consumables60€2.3m€1.0m▼
Purchases600/8€0.5m€0.4m▼
Change in stocks: decrease (increase)609€1.8m€0.6m▼
Services and other goods61€1.7m€1.4m▼
Remuneration, social security and pensions62€0.4m€0.1m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.7m€1.2m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.3m€0.4m▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€0.2m€0▼
Other operating charges640/8€0.7m€0.03m▼
Non-recurring operating charges66A€0.01m€0.03m▲
Operating profit (loss)9901€0.9m-€0.7m▼
Financial income75/76B€0.2m€0.1m▼
Recurring financial income75€0.2m€0.1m▼
Income from financial fixed assets750€0.2m€0.1m▼
Income from current assets751€0.02m€483▼
Other financial income752/9€0.002m€199▼
Financial charges65/66B€1.0m€0.7m▼
Recurring financial charges65€1.0m€0.7m▼
Debt charges650€1.0m€0.7m▼
Other financial charges652/9€0.04m€0.009m▼
Profit (loss) for the period before taxes9903€0.06m-€1.2m▼
Income taxes67/77€0.07m€0.2m▲
Taxes670/3€0.07m€0.2m▲
Profit (loss) for the period9904-€0.001m-€1.4m▼
Profit (loss) for the period to be appropriated9905-€0.001m-€1.4m▼
Appropriation of the result
Profit (loss) to be appropriated9906€6.3m€4.9m▼
Profit (loss) brought forward from the previous period14P€6.3m€6.3m=
Social balance sheet
Average headcount (FTE)90873.81.0▼

The notes to these accounts (85 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line201920202021202220232024Change
Operating income70/76A--€8.5m€7.9m€7.2m€3.6m▼ 50.2%
Turnover70--€7.2m€7.9m€7.1m€3.4m▼ 53.1%
Other operating income74--€1.2m€0.01m€0.07m€0.08m▲ 20.5%
Non-recurring operating income76A----€0.03m€0.2m▲ 496%
Operating charges60/66A--€7.9m€7.1m€6.4m€4.3m▼ 32.8%
Goods for resale, raw materials and consumables60--€4.6m€4.5m€2.3m€1.0m▼ 55.2%
Purchases600/8--€7.0m€1.3m€0.5m€0.4m▼ 15.5%
Change in stocks: decrease (increase)609---€2.4m€3.2m€1.8m€0.6m▼ 65.1%
Services and other goods61--€2.5m€1.8m€1.7m€1.4m▼ 14.3%
Remuneration, social security and pensions62--€0.6m€0.6m€0.4m€0.1m▼ 71.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.1m€0.2m€0.2m€0.7m€1.2m▲ 67.2%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4----€0.3m€0.4m▲ 42.5%
Provisions for liabilities and charges: additions (uses and reversals)635/8----€0.2m€0▼ 100%
Other operating charges640/8--€0.003m€0.04m€0.7m€0.03m▼ 95.7%
Non-recurring operating charges66A----€0.01m€0.03m▲ 218%
Gross operating margin9900€1.0m€1.8m-----
Operating profit (loss)9901€0.6m€0.7m€0.6m€0.9m€0.9m-€0.7m-
Financial income75/76B--€0.07m€0.3m€0.2m€0.1m▼ 34.7%
Recurring financial income75€0.04m€0.002m€0.07m€0.3m€0.2m€0.1m▼ 34.7%
Income from financial fixed assets750--€0.009m€0.2m€0.2m€0.1m▼ 29.6%
Income from current assets751--€0.06m€0.09m€0.02m€483▼ 96.9%
Other financial income752/9--€0€0.01m€0.002m€199▼ 88.5%
Financial charges65/66B--€0.6m€1.1m€1.0m€0.7m▼ 30.8%
Recurring financial charges65€0.2m€0.3m€0.6m€1.1m€1.0m€0.7m▼ 30.8%
Debt charges650--€0.6m€1.1m€1.0m€0.7m▼ 29.2%
Other financial charges652/9--€0.006m€0.007m€0.04m€0.009m▼ 73.9%
Profit (loss) for the period before taxes9903€0.5m€0.5m€0.08m€0.1m€0.06m-€1.2m-
Income taxes67/77€0.2m€0.1m€0.03m€0.07m€0.07m€0.2m▲ 152%
Taxes670/3--€0.03m€0.07m€0.07m€0.2m▲ 152%
Profit (loss) for the period9904€0.4m€0.3m€0.05m€0.05m-€0.001m-€1.4m▼ 163,774%
Profit (loss) for the period to be appropriated9905€0.4m€0.3m€0.05m€0.05m-€0.001m-€1.4m▼ 163,774%
Line201920202021202220232024Change
Assets
Total assets20/58€10.9m€11.7m€36.5m€34.4m€24.5m€20.5m▼ 16.6%
Formation expenses20--€0.1m€0.1m€0--
Fixed assets21/28€2.8m€6.8m€17.1m€18.1m€13.0m€11.3m▼ 13.0%
Intangible fixed assets21----€2.9m€1.7m▼ 40.0%
Tangible fixed assets22/27€1.9m€4.4m€4.3m€4.3m€1.3m€0.8m▼ 40.0%
Land and buildings22--€4.3m€4.2m€1.3m€0.7m▼ 41.7%
Plant, machinery and equipment23--€0.04m€0.08m€0.07m€0.06m▼ 15.2%
Furniture and vehicles24--€0.003m€0.004m€0.007m€0.008m▲ 26.1%
Financial fixed assets28€0.9m€2.4m€12.7m€13.7m€8.8m€8.8m=
Affiliated companies280/1--€12.7m€12.6m€8.6m€8.6m=
Participating interests280--€12.7m€12.6m€8.6m€8.6m=
Other financial fixed assets284/8---€1.1m€0.1m€0.1m=
Amounts receivable and cash guarantees285/8---€1.1m€0.1m€0.1m=
Current assets29/58€8.1m€4.9m€19.3m€16.2m€11.5m€9.1m▼ 20.7%
Amounts receivable after more than one year29--€3.9m€5.4m€3.4m€2.9m▼ 13.8%
Other amounts receivable291--€3.9m€5.4m€3.4m€2.9m▼ 13.8%
Stocks and contracts in progress3€2.4m€0.1m€8.2m€5.0m€3.1m€2.0m▼ 34.2%
Stocks30/36--€8.2m€5.0m€3.1m€2.0m▼ 34.2%
Property held for sale35--€8.2m€5.0m€3.1m€2.0m▼ 34.2%
Amounts receivable within one year40/41€3.8m€3.2m€5.1m€4.0m€3.2m€2.9m▼ 9.9%
Trade receivables40--€2.3m€1.9m€1.0m€0.7m▼ 34.8%
Other amounts receivable41--€2.8m€2.1m€2.2m€2.2m▲ 1.7%
Cash at bank and in hand54/58€0.02m€0.2m€1.0m€0.6m€0.9m€0.6m▼ 36.7%
Deferred charges and accrued income490/1--€1.1m€1.2m€0.9m€0.7m▼ 23.9%
Equity and liabilities
Total equity and liabilities10/49€10.9m€11.7m€36.5m€34.4m€24.5m€20.5m▼ 16.6%
Equity10/15€2.5m€2.9m€7.8m€7.8m€7.8m€6.4m▼ 18.0%
Contributions10/11€0.06m€0.06m€0.7m€0.7m€0.7m€0.7m=
Capital10--€0.2m€0.2m€0.2m€0.2m=
Issued capital100--€0.2m€0.2m€0.2m€0.2m=
Contributions outside capital11--€0.5m€0.5m€0.5m€0.5m=
Share premium1100/10--€0.5m€0.5m€0.5m€0.5m=
Other1109/19--€0.02m€0.02m€0.02m€0.02m=
Reserves13€0.7m€0.7m€0.8m€0.8m€0.8m€0.8m=
Non-distributable reserves130/1--€0.01m€0.01m€0.01m€0.01m=
Legal reserve130--€0.01m€0.01m€0.01m€0.01m=
Reserves not available under the articles1311--€0.002m€0.002m€0.002m€0.002m=
Distributable reserves133--€0.8m€0.8m€0.8m€0.8m=
Profit (loss) carried forward14€1.7m€2.1m€6.3m€6.3m€6.3m€4.9m▼ 22.2%
Provisions and deferred taxes16----€0.2m€0.2m=
Provisions for liabilities and charges160/5----€0.2m€0.2m=
Other liabilities and charges164/5----€0.2m€0.2m=
Amounts payable17/49€8.4m€8.9m€28.7m€26.5m€16.5m€13.8m▼ 16.2%
Amounts payable after more than one year17--€8.4m€9.3m€7.8m€6.9m▼ 10.4%
Financial debts170/4--€8.4m€9.3m€7.8m€6.9m▼ 10.4%
Subordinated loans170--€3.3m----
Unsubordinated bonds171--€5.1m€5.4m€5.7m€4.8m▼ 16.0%
Credit institutions173----€2.0m€2.1m▲ 5.0%
Other loans174---€3.8m€0.08m€0.08m▲ 4.0%
Amounts payable within one year42/48€7.8m€8.1m€20.3m€16.7m€8.7m€6.8m▼ 21.8%
Current portion of amounts payable after more than one year42----€0.2m€0.2m▲ 1.4%
Financial debts43--€12.6m€10.7m€4.9m€3.0m▼ 39.5%
Credit institutions430/8--€12.6m€10.7m€4.7m€2.8m▼ 41.2%
Other loans439----€0.2m€0.2m=
Trade debts44€2.3m€3.2m€6.9m€5.1m€2.1m€0.9m▼ 56.6%
Suppliers440/4--€6.9m€5.1m€2.1m€0.9m▼ 56.6%
Taxes, remuneration and social security45--€0.1m€0.09m€0.03m€0.3m▲ 869%
Taxes450/3--€0.009m€0.02m€0.02m€0.2m▲ 1,004%
Remuneration and social security454/9--€0.09m€0.07m€0.005m€0.02m▲ 311%
Other amounts payable47/48--€0.6m€0.9m€1.5m€2.5m▲ 64.6%
Accrued charges and deferred income492/3--€0.004m€0.5m€0€0.04m-
Line201920202021202220232024Change
Profit (loss) for the period9904€0.4m€0.3m€0.05m€0.05m-€0.001m-€1.4m▼ 163,774%
+ Depreciation and write-downs630€0.1m€0.1m€0.2m€0.2m€0.7m€1.2m▲ 67.2%
Operating cash flow (approximation)€0.5m€0.4m€0.2m€0.3m€0.7m-€0.2m-
Investment in fixed assets (approximation)--€4.1m-€10.5m-€1.2m€4.3m€0.5m▼ 88.9%
Change in cash-€0.2m€0.8m-€0.5m€0.3m-€0.3m-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 23 filings with the National Bank
Financial year Type Filed Reference
31-12-2024 full format 16-06-2025 2025-00143705
31-12-2023 full format 16-07-2024 2024-00252268
31-12-2022 full format 31-07-2023 2023-00293081
31-12-2021 full format 25-11-2022 2022-20525428
31-12-2020 abbreviated format 13-10-2021 2021-71800486
30-06-2019 abbreviated format 02-02-2020 2020-04200549
30-06-2018 abbreviated format 31-01-2019 2019-04300553
30-06-2017 abbreviated format 31-01-2018 2018-03700042
30-06-2016 abbreviated format 20-02-2017 2017-04800117
30-06-2015 abbreviated format 27-01-2016 2016-03000305

Show all 23 filings

Similar companies · same sector, comparable size

Of the 9,540 active companies whose main activity is development of residential building projects (NACE 68121), figures are known for 7,338. 1,576 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Subsidies and aid

Flemish government

2022 to 2024 · 4 entries · €105,190 awarded · €5,190 paid
Year Entries AwardedPaid
2024 1 €100,000€0
2023 2 €2,897€3,107
2022 1 €2,293€2,083
Schemes
2 entries · €4,168 · €4,168 paid · Fonds voor Innoveren en Ondernemen
1 entry · €1,022 · €1,022 paid · Departement Werk en Sociale Economie

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Directors
1 director, last change in 2026

Board 1

GOLDEN AGE
Niet statutaire enige bestuurder · since 28-08-2026 · Private limited company (pre-2019) · permanent representative: Israel BRODY
Current

Permanent representatives 1

Israel BRODY
Permanent representative · since 28-08-2026 · for GOLDEN AGE
Current
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
21 of this company's 24 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.

Mandate history

2 people since 2026, 1 in office
Show
  • Board
  • Day-to-day management
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
GOLDEN AGE
  • Niet statutaire enige bestuurder, from 28-08-2026 to date
BVM - Bouw en Vastgoed Management
  • Director, until 27-08-2026
  • Managing director, until 28-08-2026
See the board, name and registered office on a given date →

Owners and capital

Capital and shareholders

Capital over the years
  1. 03-09-2026 Capital stated in the deed · €702,939.81 · 1,172 shares

Group and network

Holdings and subsidiaries

3 holdings

Holdings 3

Source for every holding own accounts 2024

  • BIMMOsubsidiary
    Equity €7.1mResult -€706,688
    100%
  • Equity -€754,599Result -€251,406
    50%
  • Equity €210,337Result -€9,664
    50%

According to the 2024 annual accounts of B-DEVELOPMENT and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.

Connections & network

11 connected companies
Linked via shared directors
AL35
Shared corporate director
→
ASPH
Shared corporate director
→
Asteria I
Shared corporate director
→
Asteria II
Shared corporate director
→
Show 7 more companies with a shared director
GARO
Shared corporate director
→
IMMO STROOPSITE
Shared corporate director
→
Immo Topwijk
Shared corporate director
→
Lionier
Shared corporate director
→
NATAB
Shared corporate director
→
SGR
Shared corporate director
→
Singel Real Estate
Shared corporate director
→

History

On 14 September 2001, B-DEVELOPMENT was incorporated.1 Turnover went from €7.2m in 2021 to €3.4m in 2024 and headcount from 2.8 full-time equivalents in 2019 to 1 in 2024.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019, 2021 and 2024

Acts, filings and financial milestones

2026
03-09
Gazette deed Resignation: BVM – BOUW EN VASTGOED MANAGEMENT (director)
Permanent representative: Claude Alfons LABEEUW · Appointment: GOLDEN AGE (niet statutaire enige bestuurder) · Director discharge12 facts ▸
  • General meeting, 28-08-2026 (2 times)
  • Director resignation, BVM – BOUW EN VASTGOED MANAGEMENT (director)
  • Permanent representative, Claude Alfons LABEEUW
  • Director discharge, BVM – BOUW EN VASTGOED MANAGEMENT (director)
  • Director appointment, GOLDEN AGE (niet statutaire enige bestuurder)
  • Amendment of the articles (2 times)
  • Declaration, “ontvangst van kopie van het verslag, de aanwezige aandeelhouders” (deed in Dutch)
  • Capital, €702,939.81
  • Power of attorney
  • Power of attorney, VGD Accountants en Belastingconsulenten
  • Board meeting, 28-08-2026
  • Director resignation, BVM – BOUW EN VASTGOED MANAGEMENT (managing director)
2025
16-06
NBB filing Annual accounts filed
financial year 2024 · full format
24-02
Gazette deed Appointments: BVM-BOUW EN VASTGOED MANAGEMENT (director) and GOLDEN AGE (director)
Permanent representatives: LABEEUW Claude Alfons and Israel BRODY · Resignation: AL35 (director) · Reappointment: BDO BEDRIJFSREVISOREN (statutory auditor)14 facts ▸
  • General meeting, 04-11-2024
  • Director appointment, BVM-BOUW EN VASTGOED MANAGEMENT (director)
  • Permanent representative, LABEEUW Claude Alfons
  • Other provision, 31-10-2024
  • Director resignation, AL35 (director)
  • Director discharge, AL35 (director)
  • Director appointment, GOLDEN AGE (director)
  • Permanent representative, Israel BRODY
  • Board composition, BVM-BOUW EN VASTGOED MANAGEMENT (director)
  • Board composition, GOLDEN AGE (director)
  • Auditor reappointment, BDO BEDRIJFSREVISOREN (statutory auditor)
  • Board meeting, 04-11-2024
  • +2 further facts in this act
2024
31-12
Financial Weakest financial yearnet -€1.4m
Net result drops to -€1.4m, the lowest in the series.
16-07
NBB filing Annual accounts filed
financial year 2023 · full format
20-03
Gazette deed Capital & shares · Resignations & appointments · Restructuring
Merger · Shareholding · Share cancellation8 facts ▸
  • General meeting, 20-12-2023
  • Merger, “onder algemene titel, fusie door overneming” (deed in Dutch)
  • Shareholding
  • Share cancellation, “aandelen van de overgenomen vennootschap, vernietigd” (deed in Dutch)
  • Accounting effect, 01-07-2023
  • Other provision, “niet-stemgerechtigde effecten waaraan bijzondere rechten werden toegekend” (deed in Dutch)
  • Other provision, “bijzondere voordelen aan bestuursorganen, bestuursorganen van de overnemende vennootschap en van de overgenomen vennootschap” (deed in Dutch)
  • Power of attorney
2023
31-07
NBB filing Annual accounts filed
financial year 2022 · full format
2022
25-11
NBB filing Annual accounts filed
financial year 2021 · full format · 117 days late
2021
31-12
Financial Equity above €5mequity €7.8m ▲171%
A profit in every financial year since 2019 builds equity to €7.8m.
13-10
NBB filing Annual accounts filed
financial year 2020 · abbreviated format · 74 days late
2020
02-02
NBB filing Annual accounts filed
financial year 2019 · abbreviated format · 2 days late
2019
31-01
NBB filing Annual accounts filed
financial year 2018 · abbreviated format
Show earlier events
2018
31-01
NBB filing Annual accounts filed
financial year 2017 · abbreviated format
2017
20-02
NBB filing Annual accounts filed
financial year 2016 · abbreviated format · 20 days late
2016
27-01
NBB filing Annual accounts filed
financial year 2015 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 23 annual accounts filed, the latest 10 are here; all 23 are under Financials.
3 of 24 deeds read
About the unread acts

Of the 24 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 21 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Register details

Identification
Legal formPublic limited company
Founded14-09-2001
Financial year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID 0208:0475688097
Registered 27-03-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 20 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0475.688.097

Environmental permits

4 applications in Flanders since 2020 · 2 granted
Bouwen of herbouwen; Hoogstammige bomen vellen die geen deel uitmaken van een bos; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande gebouwen
Granted on 29-11-2021submitted 08-06-2021authority: Beveren-Kruibeke-Zwijndrechtproject 2021093762
Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande gebouwen
Granted on 15-07-2021submitted 10-07-2020authority: Provincie Oost-Vlaanderenproject 2020092712
Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande gebouwen
Discontinued on 09-07-2020submitted 09-07-2020authority: Puurs-Sint-Amandsproject 2020081698
Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande gebouwen
Discontinued on 19-08-2020submitted 07-02-2020authority: Beveren-Kruibeke-Zwijndrechtproject 2020008550

Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2003
registered office establishment The establishment unit on the map
Ground area
370 m²
Building footprint
217 m²
Building volume
3,759 m³
Parcel 11810K2754/00F005, Flanders · tallest building 27.0 m. Linked by address, not a title deed.
21 companies at this address See who is registered here
1 establishment unit
B-Development
Britselei 19, 2000 AntwerpenCivil engineering
since 2003unit no. 2.123.660.986
1 parcel
Flanders 1 (100%)
Cadastral parcel Region Area Buildings Height / floors
11810K2754/00F005
ProtectedMonumentWoning Bovie-SchildersSource ↗
Flanders 369 m² 1 · 217 m² 26.9 m · 6
How the parcels are linked
Good to know
The parcel matches the address exactly.
1 of these parcels carries protected heritage: expect extra rules on renovation or sale.

Articles of association

What the company does

PurposeThe activities the company may carry out under its articles.
“Het kopen, verkopen, ruilen, huren, verhuren, onderverhuren, valoriseren, verbouwen, verkavelen en verwezenlijken van alle onroerende…” (deed in Dutch)
19 activities (deed in Dutch)
  1. Het kopen, verkopen, ruilen, huren, verhuren, onderverhuren, valoriseren, verbouwen, verkavelen en verwezenlijken van alle onroerende goederen, het nemen en afstaan van optierechten voor het kopen van onroerende goederen, het beheer van onroerende goederen of immobiliënmaatschappijen, de bemiddeling van hypotheken, verkopingen of verzekeringen
  2. Het aannemen en uitvoeren van alle bouwwerken, het bouwen van huizen, villa's, appartementen, het ondernemen van alle afbraak-, grond- en bouwwerken, timmer- en schrijnwerk voor gebouwen, werken van burgerlijk genie en in het bijzonder het oprichten van gebouwen onder het statuut van de wet op de mede-eigendom
  3. Het nemen van belangen in alle ondernemingen, zelfs indien het voorwerp van deze niet gelijkaardig, analoog, verwant of nuttig is voor de verwezenlijking van haar maatschappelijk voorwerp
  4. De handel in en het beheer van onroerende goederen en onroerende zakelijke rechten, en alle activiteiten die rechtstreeks of onrechtstreeks aan voormelde doelstellingen verbonden zijn en de handel in alle goederen die rechtstreeks of onrechtstreeks aan voormelde doelstellingen verbonden zijn, alsook het verlenen en coördineren van alle dienstverleningen rechtstreeks of onrechtstreeks verbonden aan het voorwerp
  5. Het uitvoeren van alle infrastructuur- en uitrustingswerken van gronden met het oog op de verkaveling of splitsing en de valorisatie ervan
  6. De coördinatie van alle bouw- en verbouwingswerken met hun binnenhuisinrichting en voltooiing
  7. Het uitvoeren van studies, schattingen, expertisen voor gronden, gebouwen en installaties
  8. Bemiddeling inzake verhuring en overdracht van handelszaken
  9. Het beheer, de instandhouding en valorisatie van een onroerend patrimonium met inbegrip van het onderhoud, de verbouwing, bebouwing, huur en verhuring ervan, de leasing en de uitbating, kortom alle verrichtingen doen van onroerende aard
  10. Het verlenen van diensten aan bedrijven en personen, waarin ondermeer begrepen het verstrekken van technische, administratieve, financiële en commerciële bijstand en adviezen, het optreden als tussenpersoon, agent, commissionair, enzovoort
  11. Het beheren van vennootschappen of ondernemingen, ongeacht het voorwerp dat deze mochten hebben, en dit zelfs in hoedanigheid van bestuurder, gedelegeerd bestuurder of vereffenaar van deze vennootschappen of ondernemingen
  12. Advies en bijstand aan de bedrijfswereld en particulieren, onder meer op het gebied betreffende bedrijfsbeheer, bedrijfsvoering, public relations, communicatie, managementactiviteiten, algemene auditactiviteiten, planning, organisatie en toezicht
  13. Administratiekantoor en vertalers, secretariaten, alsmede de uitvoering ervan
  14. Alle overige zakelijke dienstverlening
  15. Organiseren, verzorgen, begeleiden en geven van diverse opleidingen, bijscholingen en beroepsvervolmaking in menigvuldige vakgebieden
  16. Onder meer het verlenen van adviezen en hulp aan het bedrijfsleven en de overheid op het gebied van planning, organisatie, efficiëntie en toezicht, het verschaffen van informatie aan de bedrijfsleiding
  17. Onder meer het berekenen van de kosten en baten van de voorgestelde maatregelen op het gebied van planning, organisatie, efficiëntie
  18. Het verstrekken van leningen aan intra-groepsvennootschappen of derde partijen
  19. Het verkrijgen van leningen aan intra-groepsvennootschappen of derde partijen

The full purpose is in the deed

DurationHow long the company exists; usually unlimited, so until it is dissolved.
Unlimited
Name clauseThe name the company operates under according to its articles.
B-Development
Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
One provision in the deed

deed of 03-09-2026

Who represents it, and how

Who signsWho may bind the company towards others, for example by signing a contract.
The sole director
“Artikel 16: Vertegenwoordiging van de vennootschap Raad van bestuur Indien er meerdere bestuurders zijn, wordt de vennootschap, onverminderd…”
Full text

Artikel 16: Vertegenwoordiging van de vennootschap Raad van bestuur Indien er meerdere bestuurders zijn, wordt de vennootschap, onverminderd de algemene vertegenwoordigingsmacht van de raad van bestuur als college, bij alle rechtshandelingen, jegens derden en in rechtszaken als eiser of als verweerder, verbonden door twee bestuurders die gezamenlijk optreden of, door een gedelegeerd bestuurder die alleen optreedt, of binnen hun bevoegdheidssfeer, door de personen belast met het dagelijks bestuur of door een door de raad van bestuur benoemde bijzonder gevolmachtigde.

“Wanneer de vennootschap optreedt als bestuurder van andere vennootschappen, dan wordt de vennootschap enkel rechtsgeldig vertegenwoordigd…”
Full text

Wanneer de vennootschap optreedt als bestuurder van andere vennootschappen, dan wordt de vennootschap enkel rechtsgeldig vertegenwoordigd door de vaste vertegenwoordiger die alleen handelt. Enige bestuurder Indien er slechts één (statutair) bestuurder is vertegenwoordigd deze enige bestuurder de vennootschap bij alle rechtshandelingen, jegens derden en in rechtszaken als eiser of als verweerder.

Board ruleHow the board is made up, meets and takes decisions.
“Van zodra er meer dan één bestuurder zou worden benoemd, wordt de vennootschap bestuurd door een raad van minstens drie bestuurders, al dan…” (deed in Dutch)
“Indien er meerdere bestuurders zijn, zijn deze in college bevoegd om alle handelingen te verrichten die nodig of dienstig zijn tot…” (deed in Dutch)
“Vergoeding bestuurder, niet bezoldigd” (deed in Dutch)
2 more provisions on this in the deed

deed of 03-09-2026

Capital, shares and profit

Records ruleWhich registers the company keeps, such as the share register, and how.
One provision in the deed
Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
One provision in the deed
Pre-emptive rightsExisting shareholders may buy new shares first, in proportion to what they already hold.
“Kapitaalverhoging, uitgifte van converteerbare obligaties of van inschrijvingsrechten, Voor in pand gegeven aandelen komt het voorkeurrecht…” (deed in Dutch)
Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
“5, jaarvergadering bij gewone meerderheid van stemmen, op voorstel van de raad van bestuur of de enige bestuurder” (deed in Dutch)

deed of 03-09-2026

Meetings and financial year

Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
Second Wednesday of June at 15:00
Meeting ruleHow the company's meetings are run.
One provision in the deed
Meeting accessWho may attend the meeting and what is needed to be admitted.
“Houders van aandelen zonder stemrecht, winstbewijzen zonder stemrecht, converteerbare obligaties, inschrijvingsrechten of certificaten mogen…” (deed in Dutch)
2 more provisions on this in the deed
Meeting procedureHow the meeting runs, from opening to minutes.
“Aanwezigheidslijst, alvorens de vergadering wordt begonnen” (deed in Dutch)
“Beraadslaging, kan niet beraadslagen over onderwerpen die niet in de agenda vermeld zijn” (deed in Dutch)
1 more provision on this in the deed
Proxy ruleWhether a shareholder may be represented at the meeting by someone else.
“Verleende volmacht blijft geldig voor elke volgende algemene vergadering in de mate waarin dezelfde agendapunten worden behandeld, alle…” (deed in Dutch)
Voting ruleWhich majority the meeting decides by, for example a simple or a special majority.
“Ieder aandeel geeft recht op één stem, onder voorbehoud van de wettelijke en statutaire bepalingen betreffende de aandelen zonder stemrecht” (deed in Dutch)
“Meerderheid van stemmen, ongeacht het aantal effecten dat op de algemene vergadering vertegenwoordigd is, stemrechten worden uitgeoefend…” (deed in Dutch)
Written decisionsDecisions without a meeting, when everyone involved agrees in writing.
“Alle besluiten die tot de bevoegdheid van de algemene vergadering behoren, leden van het bestuursorgaan, commissarissen en houders van…” (deed in Dutch)

deed of 03-09-2026

Oversight and winding up

Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
“Controle op de financiële toestand, op de jaarrekening en op de regelmatigheid van de daarin weer te geven verrichtingen, benoeming…” (deed in Dutch)
Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
“Als er meerdere vereffenaars worden benoemd, besluit de algemene vergadering of zij alleen, gezamenlijk, dan wel als college de vennootschap…” (deed in Dutch)
“De vereffenaars zijn bevoegd tot alle verrichtingen vermeld in de wet tenzij de algemene vergadering anders besluit, bij gewone meerderheid…” (deed in Dutch)

deed of 03-09-2026

Other provisionsOther rules from the articles that fall under none of the themes above.

“Verhoging of vermindering, regels gesteld voor de wijziging van de statuten” (deed in Dutch)
Other provision: “In geval van overlijden van de enige aandeelhouder worden de aan de aandelen verbonden rechten uitgeoefend door de regelmatig in het bezit…” (deed in Dutch)
Other provision: “De raad van bestuur kan in zijn midden en onder zijn verantwoordelijkheid een of meer adviserende comités oprichten, Hij omschrijft hun…” (deed in Dutch)
“Elektronische algemene vergadering, door de vennootschap ter beschikking gesteld elektronisch communicatiemiddel” (deed in Dutch)
“Vóór het einde van het boekjaar waarin het bedrag van het dividend is vastgesteld, op het tijdstip en op de plaatsen die de raad van bestuur…” (deed in Dutch)
Liquidation distribution: “Na aanzuivering van alle schulden, lasten en kosten van vereffening of na consignatie van de nodige gelden om die te voldoen, verdelen de…” (deed in Dutch)
“Deze bepaling is van overeenkomstige toepassing bij overlijden van een aandeelhouder of obligatiehouder, in geval van verandering van zijn…” (deed in Dutch)
12 more provisions in the deed, see the deed of 03-09-2026

deed of 03-09-2026