Equity
€4.1m from €14.1m in 2011
Equity fell by 71% in 14 years.
BERS
Lifetime
17 annual accounts with figures on one time axis, 36 filings since 1990peak €1.1m (2021)
-€184,181▼ €357,758
lowest -€2.0m (2012)
-€1.4m▼ €325,498
peak €14.1m (2011)
€4.1m▼ 24.7%
€9.1m▲ 14.3%
peak 0 FTE (2023)
0 FTE
Board6 names since 2021
4 directorsCalle Nadia and 3 others
Owners
consolidatesTONCA
Documentsfilings and deeds
22-10-202683 days late
2025financial year
Gross margin from €173,577 to -€184,181Loss of €1.4mAppointment: BV Geert Van Hemelryck - Bedrijfsrevisor (statut… 13-06Equity from €5.5m to €4.1mCash from €56,605 to €138,154
Key points
from the 2025 annual accountsLosses
-€3.4m in four years
Every financial year from 2022 to 2025 closed with a loss. 2025 was the heaviest.
Liquidity
2.87 was 0.14 in 2024
Short-term debts fell from €3.0m to €275,717.
2025 accounts filed 83 days after the deadline
Checked score
85
Excellent
Financially stronger than 34% of medium-sized companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,721 companies (NACE 68, medium-sized).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.3%▲ +0.1 percentage points vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025highest value
08-2025: 0.1%▼ -0.2 percentage points vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.1%● unchanged vs 09-2025lowest value
11-2025: 0.1%● unchanged vs 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025lowest value
01-2026: 0.1%● unchanged vs 12-2025lowest value
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.2 percentage points vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Loss of €1.4m, the second in a row (financial year 2025)
Last filed accounts filed 83 days late; 1 of the last 3 accounts late
Liquidity: current ratio 2.87, cash €138,154
lowers risk
Size: total assets €13.2m
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, medium-sized). It does better than 54% of them on solvency, 68% on liquidity, 2% on profitability and 13% on growth.
The bankruptcy probability was computed on 06-11-2026 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).
Comparable companies, two years later
In July 2024, 147 companies had the same profile as BERS has now. Each dot is one company, two years later.
91.8%
were still trading
5.4%
stopped another way
2.0%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BERS itself is lower: 0.3% within 12 months. It rests on far more data about BERS than the profile alone.
Test of the method
The method was tested on the 497,447 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 147 companies, not a prediction for BERS. 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.
Credit verdict
Credit of up to €350,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.87 (0.14 in 2024), above the usual 1.5. Short-term debt is 2.1% and cash 1% of total assets. However, 68.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€1.4m
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-10-2026, 83 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
83 days late
2024
9 days early
2023
21 days early
2022
32 days early
2021
20 days early
2020
19 days early
2019
17 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 5 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.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- TONCA 99.99%equity €66.3m (2025) · 2025 annual accounts of TONCA
- Tonca NV consolidatesannual accounts 2025
Shares in 1 company, IMMO DE KUNSTVRIENDEN
Board & ownershipRecent changes
Environmental permit granted
Bouwen of herbouwen, Nieuwbouw van bijgebouwen en niet overdekte lage constructie, Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen and 1 more · Sint-Niklaas
Appointment: BV Geert Van Hemelryck - Bedrijfsrevisor (statutory auditor)
General meeting of 14-05-2025 · Gazette deed
4 directors reappointed
De Backer Jan (managing director and chair of the board), Calle Nadia, CLMC BV and El Backero BV · Permanent representatives: De Backer Stijn and De Backer Jan · General meeting of 11-06-2024 · Gazette deed
Amendment of the articles
“De vennootschap mag alle verrichtingen stellen van commerciële,industriële,onroerende,roerende of financiële…” (deed in Dutch) · General meeting of 22-11-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BERS Sint-Niklaas | €13.2m | -€184,181 | 31.2% | 0 |
| ALAIN WIRTZ Uccle | €13.8m | -€43,980 | 22.8% | 0.5 |
| IMMO ZONE Aalst | €5.1m | -€146,963 | 36.0% | 0 |
| C.T. EUROPE Brecht | €5.7m | -€24,069 | 99.7% | 0 |
| VEVACO Izegem | €5.1m | -€44,493 | 36.8% | 0 |
| IMMO HILL Knokke-Heist | €6.4m | -€14,918 | 75.3% | 0.7 |
| Michel VANDEZANDE et Cie Charleroi | €4.4m | -€70,886 | 66.4% | 0 |
These companies have the same main activity as BERS: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €4.4m and €14m, founded between 1985 and 1997.
Official details
Source: KBO- Status
- Active since 03-08-1989Normal situation
- Activity
- Real estate agency activitiesNACE 68310
- Establishment unit
- 2.240.205.9919100 Sint-Niklaas, since 01-01-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Insights on BERS
BERS has existed since 1989. In 2021 the gross margin rose from €136,532 to €1.1m.
Solvency fell in 2025 from 40.8% to 31.2% because of the loss and higher long-term debts.
TONCA holds all the shares. In December 2024, the Official Gazette published the appointment of De Backer Jan as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BERS
- What is the company number of BERS?
- The company number of BERS is 0438.099.510. The VAT number is the same number with BE in front: BE 0438.099.510.
- Where is BERS based?
- The registered office is at Oude Molenstraat 94, 9100 Sint-Niklaas.Company details
- What does BERS do?
- According to the KBO register, the main activity is real estate agency activities (NACE 68310).
- What is the legal form of BERS?
- BERS is a public limited company (NV).
- When was BERS founded?
- BERS was founded on 03-08-1989.
- Is BERS still active?
- Yes, BERS is an active enterprise in the KBO register.
- What is the turnover of BERS?
- The annual accounts for financial year 2025 state no turnover.Financials
- Is BERS profitable?
- In financial year 2025, BERS made a loss of €1.4m.
- Where can I find the annual accounts of BERS?
- BERS filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BERS due?
- BERS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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