Result
Back in profit in 2025, after a loss of €67,114 in 2024.
Back in profit in 2025, after a loss of €67,114 in 2024.
The accounts state no turnover.
Of this, €443,475 falls due within a year.
Green is investment, beige is depreciation.
Short-term debts fell from €1.5m to €443,475.
Higher net result than 95% of companies in real estate. Sector median €5,986 · 17,185 companies.
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
Fewer than 1 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, small). It does better than 47% of them on solvency, 81% on liquidity, 54% on profitability and 79% on growth.
The bankruptcy probability was computed on 10-11-2026 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, 2,372 companies had the same profile as Bebreba has now. Each dot stands for 6 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Bebreba itself is lower: < 0.1% within 12 months. It rests on far more data about Bebreba than the profile alone.
The method was tested on the 497,448 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 2,372 companies, not a prediction for Bebreba. 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 tight, with a current ratio of 1.11 (0.03 in 2024), below the usual 1.5. Short-term debt is 8.3% and cash 4.8% of total assets. 73.3% of the assets are financed with debt and provisions.
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 6 accounts on average 17 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 | ||||
|---|---|---|---|---|
| Bebreba Merchtem | €5.3m | €621,875 | 26.7% | - |
| BDP Ixelles | €5.6m | €472,965 | 5.1% | 0.6 |
| IMMO ITTROISE Braine-le-Comte | €5.2m | €853,119 | 25.1% | - |
| NIVELLES OFFICE PARC 7 Mont-Saint-Guibert | €4.9m | €380,867 | -7.6% | - |
| STIJN DE BEER Boutersem | €3.7m | €537,708 | 2.3% | 1.4 |
| QS LOGISTICS Brussels | €6.6m | €971,276 | 16.5% | - |
| Sesa Immo Mechelen | €6.3m | €449,778 | 4.3% | - |
These companies have the same main activity as Bebreba: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €3.7m and €6.6m, founded between 2017 and 2020.
Bebreba files the micro format. That format states no turnover. The gross margin rose from €339,217 in 2020 to €621,875 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.1m. Estimated: probably between €820,000 and €1.8m.
Higher than 48% of 17,194 companies in 2025.
Higher than 49% of 16,491 companies in 2025.
Higher than 61% of 16,870 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
5.3m | 5.9m | 4.9m | 4.7m | 2.2m | 1.0m | |
21/28 |
4.8m | 5.9m | 4.9m | 4.5m | 1.2m | - | |
22/27 |
4.8m | 5.9m | 4.9m | 4.5m | 1.2m | - | |
22 |
4.8m | 5.9m | 4.9m | 4.5m | 1.2m | - | |
29/58 |
493,361 | 46,287 | 29,619 | 182,156 | 1.1m | 1.0m | |
3 |
- | - | - | 0 | 939,875 | 675,439 | |
30/36 |
- | - | - | 0 | 939,875 | 675,439 | |
40/41 |
44,617 | 8,661 | 2,000 | 14,136 | 35,853 | 290,000 | |
40 |
44,617 | 0 | 2,000 | 11,283 | 33,000 | 290,000 | |
41 |
0 | 8,661 | 0 | 2,853 | 2,853 | - | |
54/58 |
253,527 | 37,625 | 25,110 | 167,306 | 120,206 | 68,888 | |
490/1 |
195,216 | 0 | 2,509 | 714 | 698 | - | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
5.3m | 5.9m | 4.9m | 4.7m | 2.2m | 1.0m | |
10/15 |
1.4m | 1.2m | 293,451 | 631,147 | 482,372 | 236,506 | |
10/11 |
30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | |
12 |
945,733 | 989,726 | - | - | - | - | |
13 |
441,907 | 206,626 | 263,451 | 601,147 | 452,372 | 206,506 | |
133 |
441,907 | 206,626 | 263,451 | 601,147 | 452,372 | 206,506 | |
14 |
0 | -10,169 | - | - | - | - | |
17/49 |
3.9m | 4.7m | 4.6m | 4.1m | 1.8m | 797,822 | |
17 |
3.4m | 3.2m | 3.2m | 3.0m | 1.6m | 526,500 | |
170/4 |
2.8m | 2.6m | 2.6m | 3.0m | 1.6m | 526,500 | |
178/9 |
623,000 | 623,000 | 623,000 | - | - | - | |
42/48 |
443,475 | 1.5m | 1.4m | 1.0m | 191,334 | 264,572 | |
42 |
158,631 | 154,533 | 121,462 | 63,115 | 0 | - | |
43 |
100,000 | 1.2m | 1.1m | 795,000 | - | - | |
430/8 |
100,000 | 1.2m | 1.1m | 795,000 | - | - | |
44 |
21,356 | 4,140 | 25,997 | 0 | 481 | 2,415 | |
440/4 |
21,356 | 4,140 | 25,997 | 0 | 481 | 2,415 | |
45 |
34,068 | 385 | 68,933 | 141,653 | 175,696 | 96,469 | |
450/3 |
34,068 | 385 | 68,933 | 141,653 | 175,696 | 96,469 | |
47/48 |
129,420 | 104,570 | 89,526 | 8,265 | 15,157 | 165,687 | |
492/3 |
11,299 | 10,674 | 10,674 | 3,760 | 0 | 6,750 | |
| Income statement | |||||||
76A |
349,426 | - | - | - | - | - | |
9900 |
621,875 | 349,183 | 84,782 | 472,032 | 453,992 | 339,217 | |
630 |
238,171 | 231,097 | 299,561 | 165,526 | 93,915 | 1,591 | |
640/8 |
23,596 | 11,191 | 11,641 | 19,907 | 2,757 | 1,226 | |
66A |
-1,648 | - | - | - | - | - | |
9901 |
361,756 | 106,895 | -226,420 | 286,599 | 357,320 | 336,400 | |
75/76B |
6 | - | - | 0 | 36 | - | |
75 |
6 | - | - | 0 | 36 | - | |
65/66B |
160,306 | 174,010 | 111,276 | 74,022 | 35,929 | 33,425 | |
65 |
160,306 | 174,010 | 111,276 | 74,022 | 35,929 | 33,425 | |
9903 |
201,456 | -67,114 | -337,696 | 212,577 | 321,427 | 302,975 | |
67/77 |
- | - | 0 | 63,802 | 75,561 | 96,469 | |
9904 |
201,456 | -67,114 | -337,696 | 148,775 | 245,866 | 206,506 | |
9905 |
201,456 | -67,114 | -337,696 | 148,775 | 245,866 | 206,506 | |
| Appropriation of the result | |||||||
9906 |
191,287 | -67,114 | -337,696 | 148,775 | 245,866 | 206,506 | |
14P |
-10,169 | - | - | - | - | - | |
791/2 |
0 | 56,945 | 337,696 | - | - | - | |
691/2 |
191,287 | - | 0 | 148,775 | 245,866 | 206,506 | |
6921 |
191,287 | - | 0 | 148,775 | 245,866 | 206,506 | |
| Document | |||||||
The notes to these accounts have 9 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 23-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-07-2026 | 2026-00321676 | |
| 31-12-2024 | abbreviated format | 25-08-2025 | 2025-00398381 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00309012 | |
| 31-12-2022 | abbreviated format | 31-07-2023 | 2023-00293333 | |
| 31-12-2021 | abbreviated format | 13-06-2022 | 2022-20058583 | |
| 31-12-2020 | micro format | 21-05-2021 | 2021-14700219 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 599,927 | 337,992 | 73,141 | 452,125 | 451,235 | 337,991 | ||
| 439,627 | 163,982 | -38,135 | 314,301 | 339,781 | 208,097 | ||
| 540,632 | 513,051 | 699,866 | 3.5m | 1.2m | - | ||
| 215,902 | 12,515 | -142,197 | 47,100 | 51,318 | - | ||
| 49,886 | -1.4m | -1.4m | -825,877 | 905,299 | 769,756 | ||
| 26.7% | 20.6% | 6.0% | 13.5% | 21.5% | 22.9% | ||
| 1.11 | 0.03 | 0.02 | 0.18 | 5.73 | 3.91 | ||
| 1.11 | 0.03 | 0.02 | 0.18 | 0.82 | 1.36 | ||
| 2.75 | 3.86 | 15.80 | 6.42 | 3.66 | 3.37 | ||
| 14.2% | -5.5% | -115.1% | 23.6% | 51.0% | 87.3% | ||
| 3.8% | -1.1% | -6.8% | 3.2% | 10.9% | 20.0% | ||
| 3.74 | 1.94 | 0.66 | 6.11 | 12.56 | - |
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 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €540,632 | €513,051 | €699,866 | €3.5m | €1.2m |
| €238,171 | €231,097 | €299,561 | €165,526 | €93,915 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 3.4 times that of 2024 and the highest since 2020. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 79.4% to 73.3%. Equity is higher and debt is lower.
Bebreba has no parent and no holdings in its annual accounts. Bart Vandergucht is the only director.
| Bagio via VANDERGUCHT Bart, no longer at Bagio · Director · deed of 20-07-2020 founded in 2020 |
turnover €54.5m (2025) |
| MVB Invest via VANDERGUCHT Bart, no longer at MVB Invest · Director · deed of 04-08-2020 founded in 2020 |
total assets €722,256 (2025) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| François Beuckelaersstraat 17 registered office 1785 Merchtem | 08-11-2019 | 2.298.729.259 |
| 10-06-2022 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 29-03-2022 · project 2022042314 | Leuven |
| 07-05-2021 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 09-02-2021 · project 2021018109 | Leuven |
| 30-04-2021 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 10-02-2021 · project 2021009476 | Leuven |
| 08-01-2021 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 26-10-2020 · project 2020140185 | Leuven |
| 10-07-2020 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 04-05-2020 · project 2020057319 | Leuven |
| 27-03-2020 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 31-12-2019 · project 2019163482 | Leuven |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23052A0482/00A002 | 355 m² | 1 · 91 m² | 2.8 m |
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. Use the enterprise number 0737.535.441
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