BEMO
ActiveSummary
BEMO has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €71.5m and a net result of €13.1m. Equity has been growing by about 16% per year since 2022. Its solvency ranks better than 92% of 11,268 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 13-04-2022 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201and 2 others
- Establishment unit
- 2.331.077.967 9831 Sint-Martens-Latem, since 13-04-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 09-01-2025
Board and ownership
- Bernard MoortgatManaging director
- Sarah MullerDirector
- MOORTGAT Bernard151,800 sharesact of 18-12-2025
- MULLER Sarah400 sharesact of 18-12-2025
- Holdings
- Shares in 2 companies PBM Finance and HAENEBALCKE MAATWERK
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €1.1m
- ▲ 27.6%
- Turnover
- ≈ €1.1m
- estimated
- Profit
- €13.1m
- ▲ 39.7%
- Equity
- €71.5m
- ▲ 14.7%
- Total assets
- €77.8m
- ▲ 17.1%
- Employees on 31-12-2025
- 5
- ▲ 25.0%
- 2025 accounts filed 29 days after the deadline
Score breakdownraises riskLiquidity: current ratio 11.93, cash €1.3mFounded in 2022lowers riskSector: Real estate activities (NACE 68)Figures for financial year 2025 (filed on 01-09-2026)Show the evidence
Checked score
About 2 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 91% of them on solvency, 59% on liquidity, 86% on profitability and 71% on growth.
The bankruptcy probability was computed on 04-11-2026 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 4 accounts on average 17 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 29 days after the deadline Filed on 29 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00478096.
Annual accounts 2025 filed on 29-08-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2025 is a loss of €143,066, larger than the loss of €49,819 in 2024. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 4 | 5 |
| full-time | 1 | 1 | 3 | 4 |
| part-time | - | - | 1 | 1 |
| in full-time equivalents | 1 | 1 | 3.3 | 4.3 |
| Average over the year, in full-time equivalents | 1 | 1 | 1.4 | 4.1 |
| On a permanent contract | 1 | 1 | 4 | 5 |
| Joined | 1 | - | 3 | 1 |
| Left | 0 | - | 0 | 0 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €30.1m | €1.4m | €1.0m | €1.7m |
| Financial fixed assets | €2.6m | - | - | €304,000 |
| Depreciation and write-downs of the year | €745,711 | €798,053 | €776,912 | €853,128 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €0.03m | €0.04m | €0.06m | €0.3m | ▲ 506% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.7m | €0.8m | €0.8m | €0.9m | ▲ 9.8% |
| Other operating charges640/8 | €0.07m | €0.07m | €0.1m | €0.08m | ▼ 22.3% |
| Gross operating margin9900 | €1.2m | €1.0m | €0.9m | €1.1m | ▲ 27.6% |
| Operating profit (loss)9901 | €0.3m | €0.06m | -€0.05m | -€0.1m | ▼ 187% |
| Financial income75/76B | €8.4m | €7.9m | €10.4m | €14.2m | ▲ 37.0% |
| Recurring financial income75 | €8.4m | €7.9m | €10.4m | €14.2m | ▲ 37.0% |
| Financial charges65/66B | €0.6m | -€0.1m | €0.2m | €0.1m | ▼ 45.6% |
| Recurring financial charges65 | €0.6m | -€0.1m | €0.2m | €0.1m | ▼ 45.6% |
| Profit (loss) for the period before taxes9903 | €8.2m | €8.1m | €10.1m | €14.0m | ▲ 37.9% |
| Income taxes67/77 | €0.3m | €0.6m | €0.7m | €0.9m | ▲ 15.3% |
| Profit (loss) for the period9904 | €7.8m | €7.5m | €9.4m | €13.1m | ▲ 39.7% |
| Profit (loss) for the period to be appropriated9905 | €7.8m | €7.5m | €9.4m | €13.1m | ▲ 39.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €54.7m | €56.9m | €66.4m | €77.8m | ▲ 17.1% |
| Fixed assets21/28 | €25.8m | €26.4m | €26.6m | €27.6m | ▲ 4.0% |
| Tangible fixed assets22/27 | €23.2m | €23.8m | €24.0m | €24.8m | ▲ 3.4% |
| Land and buildings22 | €21.5m | €21.6m | €21.5m | €22.2m | ▲ 3.6% |
| Plant, machinery and equipment23 | €1.7m | €2.1m | €2.5m | €2.6m | ▲ 2.7% |
| Assets under construction and advance payments27 | €0.008m | €0.06m | €0.007m | - | - |
| Financial fixed assets28 | €2.6m | €2.6m | €2.6m | €2.8m | ▲ 8.8% |
| Current assets29/58 | €28.9m | €30.5m | €39.8m | €50.1m | ▲ 25.8% |
| Amounts receivable within one year40/41 | €8.0m | €7.9m | €7.3m | €8.8m | ▲ 19.9% |
| Trade receivables40 | €0.3m | €0.6m | €0.06m | €0.1m | ▲ 146% |
| Other amounts receivable41 | €7.7m | €7.3m | €7.3m | €8.7m | ▲ 18.9% |
| Current investments50/53 | €19.1m | €21.2m | €30.7m | €40.0m | ▲ 30.4% |
| Cash at bank and in hand54/58 | €1.7m | €1.4m | €1.8m | €1.3m | ▼ 26.9% |
| Deferred charges and accrued income490/1 | €0.1m | €0.02m | €0.03m | €0.01m | ▼ 65.8% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €54.7m | €56.9m | €66.4m | €77.8m | ▲ 17.1% |
| Equity10/15 | €45.5m | €53.0m | €62.3m | €71.5m | ▲ 14.7% |
| Contributions10/11 | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Reserves13 | €4.1m | €8.1m | €12.1m | €14.2m | ▲ 17.0% |
| Non-distributable reserves130/1 | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Other1319 | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Distributable reserves133 | €3.9m | €7.9m | €11.9m | €14.0m | ▲ 17.2% |
| Profit (loss) carried forward14 | €39.2m | €42.7m | €48.1m | €55.2m | ▲ 14.8% |
| Amounts payable17/49 | €9.1m | €3.9m | €4.1m | €6.3m | ▲ 53.6% |
| Amounts payable after more than one year17 | €3.2m | €2.8m | €2.4m | €2.0m | ▼ 15.9% |
| Financial debts170/4 | €3.2m | €2.8m | €2.4m | €2.0m | ▼ 15.9% |
| Amounts payable within one year42/48 | €5.9m | €1.0m | €1.6m | €4.2m | ▲ 164% |
| Current portion of amounts payable after more than one year42 | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 2.8% |
| Financial debts43 | - | - | - | €1.3m | - |
| Credit institutions430/8 | - | - | - | €1.3m | - |
| Trade debts44 | €0.03m | €0.01m | €0.008m | €0.1m | ▲ 15× |
| Suppliers440/4 | €0.03m | €0.01m | €0.008m | €0.1m | ▲ 15× |
| Taxes, remuneration and social security45 | €0.4m | €0.6m | €1.1m | €1.5m | ▲ 28.8% |
| Taxes450/3 | €0.4m | €0.6m | €1.1m | €1.4m | ▲ 26.3% |
| Remuneration and social security454/9 | €0.002m | €0.005m | €0.006m | €0.04m | ▲ 493% |
| Other amounts payable47/48 | €5.0m | €0.03m | €0.04m | €0.9m | ▲ 21× |
| Accrued charges and deferred income492/3 | €0.06m | €0.06m | €0.05m | €0.01m | ▼ 79.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7.8m | €7.5m | €9.4m | €13.1m | ▲ 39.7% |
| + Depreciation and write-downs630 | €0.7m | €0.8m | €0.8m | €0.9m | ▲ 9.8% |
| Operating cash flow (approximation) | €8.6m | €8.3m | €10.2m | €14.0m | ▲ 37.4% |
| Investment in fixed assets (approximation) | - | -€1.4m | -€1.0m | -€1.9m | ▼ 94.5% |
| Change in cash | - | -€0.2m | €0.3m | -€0.5m | - |
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, 39,278 companies had the same profile as BEMO has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BEMO itself is lower: 0.2% within 12 months. It rests on far more data about BEMO than the profile alone.
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 39,278 companies, not a prediction for BEMO. 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.
Filings with the National Bank (4)
Board & ownership
Directors
Board 2
Day-to-day management 1
Owners and capital
Shareholders
- MOORTGAT Bernard 151,800 shares
- MULLER Sarah 400 shares
- Bernard Moortgat 759 shares (99.7%) · €2,497.11 in cash
- Sarah Muller 2 shares (0.3%) · €6.58 in cash
Capital transactions
- 08-07-2022 Capital increase of €41,744,332.69 · 761 new shares
- 15-04-2022 Incorporation · €2,503.69 · 761 shares
Mandate history
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| Bernard Moortgat |
|
| Sarah Muller |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director“Door algemene vergadering te bepalen duur, samenstelling bestuursorgaan”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft ten laste overdrager,helft ten laste koper(s) naar evenredigheid verworven aantal bij meerdere kopers,ook bij weigering erfgenaam of…”
Articles of association, deed of 15-04-2022 (in Dutch)
Network & group
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- Equity €698.0m Profit of €30.2m in 2025 (profit of €25.5m in 2024)33.33%
- Equity €304,622 Profit of €2,096 in 2025 Checked score 8332%
Board mandates elsewhere
6 board mandatesAcquisitions and mergers
1 transactionCompanies at the same address
5 other companiesConnections & network
3 connected companiesTimeline
Acts, filings and financial milestones
18-12
Gazette deed
Amendment of the articlesMOORTGAT Bernard holds 151,800 shares · MULLER Sarah holds 400 shares3 points ▸
- General meeting, 15-12-2025
- MOORTGAT Bernard holds 151,800 shares
- MULLER Sarah holds 400 shares
- The act holds 4 more points.
08-07
Gazette deed
Demerger: BEMO NV splits off to BEMO BVCapital increase of €41,744,332.69 · BEMO NV is a shareholder · Bernard Moortgat holds 759 shares8 points ▸
- General meeting, 08-06-2022
- Accounting effect, 01-01-2022
- BEMO NV is a shareholder
- Bernard Moortgat holds 759 shares
- Sarah Muller holds 2 shares
- Amendment of the articles, 5
- Power of attorney, Eline HECK
- Capital increase, €41,744,332.69
- The act holds 11 more points.
27-04
Gazette deed
Demerger proposal: BEMO NV splits off to BEMO BVBEMO NV is a shareholder2 points ▸
- Accounting effect, 01-01-2022
- BEMO NV is a shareholder
- The act holds 51 more points.
15-04
Gazette deed
IncorporationStarting capital €2,503.69 · Appointments: Bernard Moortgat (director) and Sarah Muller (director) · Founder: Bernard Moortgat · Founder: Sarah Muller7 points ▸
- Founder, Bernard Moortgat
- Founder, Sarah Muller
- Founding capital, €2,503.69, 761 shares
- Capital, €2,503.69, 761 shares
- Director appointment, Bernard Moortgat (director)
- Director appointment, Sarah Muller (director)
- Director appointment, Bernard Moortgat (managing director)
- The act holds 6 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
On 13 April 2022, BEMO was incorporated as a private limited company by two natural persons, with a starting capital of €2,504.12 In 2022 the capital was increased by €41.7m.3 Today the board has 2 members.4 Total assets went from €54.7m in 2022 to €77.8m in 2025 and headcount from 1 to 4.1 full-time equivalents.5
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
6 activities
- 1.Het bij wijze van inschrijving,inbreng,fusie,samenwerking,financiële tussenkomst of anderszins verwerven van belang of deelneming in alle bestaande of nog op te richten vennootschappen,ondernemingen,bedrijvigheden of verenigingen,zonder onderscheid in België of buitenland
- 2.Administratie,consultancy,IT diensten,begeleiden van bedrijven en managementactiviteiten
- 3.Het aanleggen,uitbouwen en beheren van onroerend vermogen;alle verrichtingen met onroerende goederen en zakelijke rechten zoals erfpacht- en opstalrechten,aankopen en verkopen in volle eigendom,vruchtgebruik en/of blote eigendom,ruilen,doen bouwen,doen verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten,met roerende goederen voor inrichting en uitrusting en commercieel,technisch en administratief beheer en valorisering,onderzoeken,schattingen,toelatingen,lastenkohieren,architecten- en aannemingscontracten
- 4.Het aanleggen,uitbouwen en beheren van roerend patrimonium(zo onder meer kunst en andere waardevolle objecten),alle verrichtingen met roerende goederen en rechten,verwerven door inschrijving of aankoop en beheren van aandelen,obligaties,kasbons of andere roerende waarden,met onderzoek,expertise en advies
- 5.Alle verrichtingen inzake groot- en kleinhandel,export en import,commissionering van schoenen,leder- en textielwaren en andere consumptiegoederen
- 6.Het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren,met alle handels- en financiële operaties behalve wettelijk voorbehouden aan depositobanken,houders van deposito's op korte termijn,spaarkassen,hypotheekmaatschappijen en kapitalisatieondernemingen
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 |
|---|---|---|---|---|
| 44015A0097/00K000 | Flanders | 5,848 m² | 1 · 467 m² | 12.0 m · 2 |