BLAC
ActiveSummary
BLAC has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.9m and a net result of -€19,154. Equity is growing by ~6.7% per year across the filed fiscal years. Its solvency ranks better than 78% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability48▼-35
Solvency93=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €230,000 at 30 days acceptable
Liquidity ample (current ratio 13.15 against 18.45 in 2024; short-term debt: 2.5% and cash: 19.7% of total assets), and 31.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
68.1%
Return on assets
-0.4%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 01-10-2025 was due by 01-05-2026 and was filed on 28-04-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
15 d late
2023
16 d late
2022
15 d late
2021
29 d late
2020
30 d late
2019
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 14 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 01-10-2026 and is due by 01-05-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today01-10-2026 close01-05-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#8 company by equity in Maldegem, Real estate sector
Equity
€2.9m▼ 0.6%
2024 · €3.0m
Total assets
€4.3m▼ 1.1%
2024 · €4.4m
Net result
-€19,154
2024 · €501,842
Working capital
€1.3m▼ 13.0%
2024 · €1.5m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€302,723▲ 29.8%-€6,479€200,103€750,310▲ 275%€25,549▼ 96.6%
Net result€503,439▲ 182%-€38,061€96,596€501,842▲ 420%-€19,154
Equity€2.4m▲ 11.6%€2.4m▼ 1.6%€2.5m▲ 1.9%€3.0m▲ 20.5%€2.9m▼ 0.6%
Total assets€3.8m▼ 5.3%€3.7m▼ 2.3%€3.8m▲ 0.3%€4.4m▲ 16.1%€4.3m▼ 1.1%
Debt€1.3m▼ 28.5%€1.2m▼ 3.2%€1.2m▼ 5.4%€1.1m▼ 5.1%€1.1m▼ 1.9%
Working capital€170,613€248,661▲ 45.7%€566,021▲ 128%€1.5m▲ 161%€1.3m▼ 13.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 97% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.3m
Fixed assets
€2.9m ▲ 4.4%
Current assets
€1.4m ▼ 11.0%
Equity and liabilities €4.3m
Equity
€2.9m ▼ 0.6%
Provisions
€279,169 ▼ 2.7%
Debt
€1.1m ▼ 1.9%
Debt's share of the balance-sheet total falls from 25.7% to 25.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€238,298▼
2024 · €956,877
Cash flow
€193,594▼
2024 · €708,409
Current ratio
13.15▼
2024 · 18.45
Debt to equity
0.37▼
2024 · 0.38
ROE
-0.7%▼
2024 · 17.0%
ROA
-0.4%▼
2024 · 11.5%
Interest coverage
3.58▼
2024 · 12.13
Debt ≤ 1 year
€105,842▲
2024 · €84,754
Debt > 1 year
€970,776▼
2024 · €1.0m
Income taxes
€2,692▼
2024 · €6,657
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 8,594 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €196,019 | - | €157,760 | €680,986 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €212,954 | €221,533 | €223,998 | €206,567 | €212,748 | ▲ 3.0% |
| Other operating charges640/8 | €59,632 | €98,654 | €45,769 | €48,329 | €43,757 | ▼ 9.5% |
| Non-recurring operating charges66A | - | - | - | - | €8,684 | - |
| Gross operating margin9900 | €575,308 | €313,708 | €469,870 | €1.0m | €290,738 | ▼ 71.1% |
| Operating profit (loss)9901 | €302,723 | -€6,479 | €200,103 | €750,310 | €25,549 | ▼ 96.6% |
| Financial income75/76B | €348,154 | €930 | €624 | - | €16,750 | - |
| Recurring financial income75 | €348,154 | €930 | €624 | - | €16,750 | - |
| Financial charges65/66B | €103,547 | €39,422 | €58,473 | €78,902 | €66,566 | ▼ 15.6% |
| Recurring financial charges65 | €103,547 | €39,422 | €58,473 | €78,902 | €66,566 | ▼ 15.6% |
| Profit (loss) for the period before taxes9903 | €547,329 | -€44,971 | €142,254 | €671,407 | -€24,268 | ▼ 104% |
| Transfer from deferred taxes780 | €5,114 | €6,910 | €7,445 | €7,337 | €7,805 | ▲ 6.4% |
| Transfer to deferred taxes680 | €49,005 | - | €39,440 | €170,246 | - | - |
| Income taxes67/77 | - | - | €13,663 | €6,657 | €2,692 | ▼ 59.6% |
| Profit (loss) for the period9904 | €503,439 | -€38,061 | €96,596 | €501,842 | -€19,154 | ▼ 104% |
| Transfer from tax-exempt reserves789 | €15,343 | €20,730 | €22,336 | €22,012 | €23,416 | ▲ 6.4% |
| Transfer to tax-exempt reserves689 | €147,014 | - | €118,320 | €510,739 | - | - |
| Profit (loss) for the period to be appropriated9905 | €371,769 | -€17,331 | €612 | €13,115 | €4,262 | ▼ 67.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.8m | €3.7m | €3.8m | €4.4m | €4.3m | ▼ 1.1% |
| Fixed assets21/28 | €3.6m | €3.4m | €3.1m | €2.8m | €2.9m | ▲ 4.4% |
| Tangible fixed assets22/27 | €3.1m | €2.9m | €2.6m | €2.3m | €2.5m | ▲ 5.3% |
| Land and buildings22 | €3.1m | €2.9m | €2.6m | €2.3m | €2.4m | ▲ 5.9% |
| Plant, machinery and equipment23 | €2,000 | €1,000 | €0 | €1,945 | €2,294 | ▲ 18.0% |
| Furniture and vehicles24 | - | - | €47,713 | €35,785 | €23,857 | ▼ 33.3% |
| Financial fixed assets28 | €467,650 | €467,650 | €467,650 | €467,650 | €467,650 | = |
| Current assets29/58 | €275,903 | €373,804 | €665,415 | €1.6m | €1.4m | ▼ 11.0% |
| Amounts receivable within one year40/41 | €20,164 | €41,349 | €8,163 | €27,349 | €43,415 | ▲ 58.7% |
| Trade receivables40 | - | - | €633 | €3,950 | - | - |
| Other amounts receivable41 | €20,164 | €41,349 | €7,530 | €23,399 | €43,415 | ▲ 85.5% |
| Current investments50/53 | - | - | - | €750,000 | €500,000 | ▼ 33.3% |
| Cash at bank and in hand54/58 | €255,739 | €332,455 | €657,252 | €785,977 | €848,220 | ▲ 7.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.8m | €3.7m | €3.8m | €4.4m | €4.3m | ▼ 1.1% |
| Equity10/15 | €2.4m | €2.4m | €2.5m | €3.0m | €2.9m | ▼ 0.6% |
| Contributions10/11 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Capital10 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Issued capital100 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Reserves13 | €859,442 | €820,712 | €866,697 | €1.4m | €1.4m | ▼ 1.4% |
| Non-distributable reserves130/1 | €158,500 | €158,500 | €158,500 | €158,500 | €158,500 | = |
| Legal reserve130 | €158,500 | €158,500 | €158,500 | €158,500 | €158,500 | = |
| Tax-exempt reserves132 | €296,942 | €276,212 | €372,197 | €860,924 | €837,507 | ▼ 2.7% |
| Distributable reserves133 | €404,000 | €386,000 | €336,000 | €350,000 | €354,000 | ▲ 1.1% |
| Profit (loss) carried forward14 | €192 | €861 | €1,473 | €588 | €850 | ▲ 44.6% |
| Provisions and deferred taxes16 | €98,981 | €92,071 | €124,066 | €286,975 | €279,169 | ▼ 2.7% |
| Deferred taxes168 | €98,981 | €92,071 | €124,066 | €286,975 | €279,169 | ▼ 2.7% |
| Amounts payable17/49 | €1.3m | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 1.9% |
| Amounts payable after more than one year17 | €1.2m | €1.1m | €1.1m | €1.0m | €970,776 | ▼ 4.1% |
| Financial debts170/4 | €1.2m | €1.1m | €1.0m | €993,082 | €951,834 | ▼ 4.2% |
| Other amounts payable178/9 | €11,725 | €15,825 | €18,942 | €18,942 | €18,942 | = |
| Amounts payable within one year42/48 | €105,289 | €125,143 | €99,394 | €84,754 | €105,842 | ▲ 24.9% |
| Current portion of amounts payable after more than one year42 | €90,685 | €75,571 | €52,336 | €46,212 | €47,174 | ▲ 2.1% |
| Trade debts44 | €14,525 | €26,571 | - | €19,294 | €41,676 | ▲ 116% |
| Suppliers440/4 | €14,525 | €26,571 | - | €19,294 | €41,676 | ▲ 116% |
| Taxes, remuneration and social security45 | - | €9,768 | €13,680 | €19,248 | €16,992 | ▼ 11.7% |
| Taxes450/3 | - | €9,768 | €13,680 | €19,248 | €16,992 | ▼ 11.7% |
| Other amounts payable47/48 | €79 | €13,233 | €33,378 | - | - | - |
| Accrued charges and deferred income492/3 | €19,593 | €23,987 | €25,818 | €23,532 | €22,286 | ▼ 5.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €503,439 | -€38,061 | €96,596 | €501,842 | -€19,154 | ▼ 104% |
| + Depreciation and write-downs630 | €212,954 | €221,533 | €223,998 | €206,567 | €212,748 | ▲ 3.0% |
| Operating cash flow (approximation) | €716,393 | €183,472 | €320,594 | €708,409 | €193,594 | ▼ 72.7% |
| Investment in fixed assets (approximation) | - | -€37,204 | €56,200 | €86,813 | -€336,073 | ▼ 487% |
| Change in cash | - | €76,717 | €324,797 | €128,725 | €62,243 | ▼ 51.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 15 days late
2024
01-10
Financial
Liquidity triplescurrent ratio 18.45
Current ratio from 6.69 to 18.45; short-term debt falls from €99,394 to €84,754.
17-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 16 days late
2023
01-10
Financial
Back to profitnet €96,596
Net result €96,596 after one loss-making year.
01-10
Financial
Liquidity doublescurrent ratio 6.69
Current ratio from 2.99 to 6.69; short-term debt falls from €125,143 to €99,394.
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 15 days late
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 29 days late
2021
01-10
Financial
Highest result since 2018net €503,439 ▲182%
Net result €503,439, the highest in the series.
01-10
Financial
Liquidity triplescurrent ratio 2.62
Current ratio from 0.96 to 2.62; short-term debt falls from €522,568 to €105,289.
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
01-10
Financial
Back to profitnet €153,748
Net result €153,748 after one loss-making year.
01-10
Financial
Equity above €2mEq €2.0m ▲8.3%
Equity rises from €1.9m to €2.0m.
26-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Maldegem · 1 establishment unit since 2001
Ground area
5,101 m²
Parcel 43010A0004/00_000, Flanders. Linked by address, not a title deed.
1 establishment unit
Dijkstraat 29, 9990 Maldegem
since 20012.100.343.770
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43010A0004/00_000 | Flanders | 5,101 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 01-10-2025 list no shareholders, and no other source names one.
Holdings 1
-
99.5%
According to the annual accounts to 01-10-2025 of BLAC and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 447 EUR awarded · 447 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 229 EUR | 229 EUR |
| 2023 | 1 | 218 EUR | 218 EUR |
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 3,862 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-09-2000
Fiscal year end01-10
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472758697
Also
9925:BE0472758697
Registered
06-07-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.