BLS
ActiveSummary
BLS has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €500,650 and a net result of €56,430. Equity is growing by ~4.9% per year across the filed fiscal years. Its solvency ranks better than 59% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+24
Solvency66▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 2.23 in 2024; short-term debt: 3.9% and cash: 2.5% of total assets), and 59.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 · 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
40.8%
Return on assets
4.6%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
9 d early
2023
28 d late
2022
67 d late
2021
29 d late
2020
31 d late
2019
83 d late
← 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 30 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€142,747
EBIT margin
20.4%
Net result
€56,430▲ 63.3%
2024 · €34,555
Working capital
€6,825▼ 87.7%
2024 · €55,388
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€142,747
Operating result€29,168▲ 28,079%€46,166▲ 58.3%€61,862▲ 34.0%€74,475▲ 20.4%€80,547▲ 8.2%
Net result€7,067within the sector's middle half€23,962within the sector's middle half▲ 239%€32,100above the sector's middle half▲ 34.0%€34,555above the sector's middle half▲ 7.6%€56,430above the sector's middle half▲ 63.3%
EBIT margin20.4%
Equity€353,602above the sector's middle half▲ 2.0%€377,564above the sector's middle half▲ 6.8%€409,664above the sector's middle half▲ 8.5%€444,219above the sector's middle half▲ 8.4%€500,650above the sector's middle half▲ 12.7%
Total assets€1.6mabove the sector's middle half▼ 0.5%€1.6mabove the sector's middle half▼ 0.1%€1.4mabove the sector's middle half▼ 12.9%€1.3mabove the sector's middle half▼ 5.9%€1.2mabove the sector's middle half▼ 8.3%
Debt€1.3m▼ 1.2%€1.3m▼ 2.0%€1.0m▼ 19.4%€894,370▼ 11.8%€726,252▼ 18.8%
Working capital€184,620above the sector's middle half▲ 28.0%€243,801above the sector's middle half▲ 32.1%€93,716within the sector's middle half▼ 61.6%€55,388within the sector's middle half▼ 40.9%€6,825within the sector's middle half▼ 87.7%
Solvency21.6%within the sector's middle half▲ 0.5pp23.1%within the sector's middle half▲ 1.5pp28.8%within the sector's middle half▲ 5.7pp33.2%within the sector's middle half▲ 4.4pp40.8%within the sector's middle half▲ 7.6pp
Current ratio5.31above the sector's middle half▲ 0.517.06above the sector's middle half▲ 1.753.65above the sector's middle half▼ 3.412.23within the sector's middle half▼ 1.421.14within the sector's middle half▼ 1.09
Return on assets (ROA)0.4%within the sector's middle half▲ 1.6pp1.5%within the sector's middle half▲ 1.0pp2.3%within the sector's middle half▲ 0.8pp2.6%within the sector's middle half▲ 0.3pp4.6%within the sector's middle half▲ 2.0pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 8% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.2m ▼ 5.3%
Current assets
€54,906 ▼ 45.3%
Equity and liabilities €1.2m
Equity
€500,650 ▲ 12.7%
Debt
€726,252 ▼ 18.8%
Debt's share of the balance-sheet total falls from 66.8% to 59.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€141,593▲
2024 · €135,660
Cash flow
€117,476▲
2024 · €95,741
Debt to equity
1.45▼
2024 · 2.01
ROE
11.3%▲
2024 · 7.8%
Interest coverage
22.94▲
2024 · 3.40
Debt ≤ 1 year
€48,081▲
2024 · €44,976
Debt > 1 year
€675,919▼
2024 · €816,539
Income taxes
€17,945
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,045 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,662 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% | 1.7% |
| 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 75% 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 6,045 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €142,747 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €140 | - |
| Goods, raw materials, services and sundry goods60/61 | €39,031 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,832 | €60,331 | €61,005 | €61,186 | €61,046 | ▼ 0.2% |
| Other operating charges640/8 | €14,717 | €9,234 | €10,470 | €11,173 | €18,632 | ▲ 66.8% |
| Gross operating margin9900 | €103,717 | €115,731 | €133,337 | €146,833 | €160,225 | ▲ 9.1% |
| Operating profit (loss)9901 | €29,168 | €46,166 | €61,862 | €74,475 | €80,547 | ▲ 8.2% |
| Financial income75/76B | - | €0 | €0 | - | - | - |
| Recurring financial income75 | - | €0 | €0 | - | - | - |
| Financial charges65/66B | €22,101 | €22,204 | €29,762 | €39,920 | €6,172 | ▼ 84.5% |
| Recurring financial charges65 | €22,101 | €22,204 | €29,762 | €39,920 | €6,172 | ▼ 84.5% |
| Profit (loss) for the period before taxes9903 | €7,067 | €23,962 | €32,100 | €34,555 | €74,375 | ▲ 115% |
| Income taxes67/77 | - | - | - | - | €17,945 | - |
| Profit (loss) for the period9904 | €7,067 | €23,962 | €32,100 | €34,555 | €56,430 | ▲ 63.3% |
| Profit (loss) for the period to be appropriated9905 | €7,067 | €23,962 | €32,100 | €34,555 | €56,430 | ▲ 63.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.6m | €1.4m | €1.3m | €1.2m | ▼ 8.3% |
| Fixed assets21/28 | €1.4m | €1.4m | €1.3m | €1.2m | €1.2m | ▼ 5.3% |
| Tangible fixed assets22/27 | €1.4m | €1.4m | €1.3m | €1.2m | €1.2m | ▼ 5.3% |
| Land and buildings22 | €1.4m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 4.8% |
| Furniture and vehicles24 | €5,995 | - | - | €5,184 | - | - |
| Other tangible fixed assets26 | €9,911 | €13,506 | €17,576 | €14,461 | €11,345 | ▼ 21.5% |
| Assets under construction and advance payments27 | - | €2,272 | - | - | - | - |
| Current assets29/58 | €227,448 | €284,053 | €129,077 | €100,365 | €54,906 | ▼ 45.3% |
| Amounts receivable within one year40/41 | €18,355 | €39,556 | €35,992 | €10,118 | €20,577 | ▲ 103% |
| Trade receivables40 | €18,355 | €31,978 | €34,870 | €9,813 | €18,323 | ▲ 86.7% |
| Other amounts receivable41 | - | €7,578 | €1,122 | €305 | €2,254 | ▲ 640% |
| Cash at bank and in hand54/58 | €196,013 | €244,497 | €67,094 | €86,932 | €30,971 | ▼ 64.4% |
| Deferred charges and accrued income490/1 | €13,080 | - | €25,991 | €3,315 | €3,359 | ▲ 1.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.6m | €1.4m | €1.3m | €1.2m | ▼ 8.3% |
| Equity10/15 | €353,602 | €377,564 | €409,664 | €444,219 | €500,650 | ▲ 12.7% |
| Contributions10/11 | €450,000 | €450,000 | €450,000 | €450,000 | €450,000 | = |
| Capital10 | €450,000 | - | - | - | - | - |
| Issued capital100 | €450,000 | - | - | - | - | - |
| Reserves13 | - | - | - | - | €50,650 | - |
| Distributable reserves133 | - | - | - | - | €50,650 | - |
| Profit (loss) carried forward14 | -€96,398 | -€72,436 | -€40,336 | -€5,781 | - | - |
| Amounts payable17/49 | €1.3m | €1.3m | €1.0m | €894,370 | €726,252 | ▼ 18.8% |
| Amounts payable after more than one year17 | €1.2m | €1.2m | €956,616 | €816,539 | €675,919 | ▼ 17.2% |
| Financial debts170/4 | €325,192 | €301,164 | €276,616 | €251,539 | €225,919 | ▼ 10.2% |
| Other amounts payable178/9 | €900,000 | €900,000 | €680,000 | €565,000 | €450,000 | ▼ 20.4% |
| Amounts payable within one year42/48 | €42,828 | €40,253 | €35,362 | €44,976 | €48,081 | ▲ 6.9% |
| Current portion of amounts payable after more than one year42 | €23,520 | €24,028 | €24,547 | €25,078 | €21,957 | ▼ 12.4% |
| Trade debts44 | €15,407 | €16,224 | €10,596 | €4,586 | €7,222 | ▲ 57.5% |
| Suppliers440/4 | €10,427 | €16,224 | €10,596 | €4,586 | €7,222 | ▲ 57.5% |
| Bills of exchange payable441 | €4,980 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €3,901 | - | - | - | €18,903 | - |
| Taxes450/3 | €3,901 | - | - | - | €18,903 | - |
| Other amounts payable47/48 | - | - | €218 | €15,313 | - | - |
| Accrued charges and deferred income492/3 | €14,103 | €15,292 | €21,521 | €32,855 | €2,251 | ▼ 93.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,067 | €23,962 | €32,100 | €34,555 | €56,430 | ▲ 63.3% |
| + Depreciation and write-downs630 | €59,832 | €60,331 | €61,005 | €61,186 | €61,046 | ▼ 0.2% |
| Operating cash flow (approximation) | €66,899 | €84,293 | €93,105 | €95,741 | €117,476 | ▲ 22.7% |
| Investment in fixed assets (approximation) | - | -€2,272 | -€4,873 | -€5,324 | €5,184 | ▲ 197% |
| Change in cash | - | €48,484 | -€177,403 | €19,838 | -€55,962 | ▼ 382% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €56,430 ▲63.3%
Operating result €80,547, net result €56,430, both a record.
31-12
Financial
Equity above €500,000Eq €500,650 ▲12.7%
5 profitable years in a row build equity to €500,650.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Back to profitnet €7,067
Net result €7,067 after 3 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 83 days late
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 24 days late
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Gembloux · 1 establishment unit since 2014
Ground area
1,619 m²
Building footprint
433 m²
Volume, LiDAR
3,692 m³
Parcel 92065B0056/00M003, Wallonia · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BLS
since 20142.238.706.154
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92065B0056/00M003 | Wallonia | 1,619 m² | 1 · 433 m² | 10.9 m · 3 fl. |
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.
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Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 4,418 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-12-2014
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
fabrice.legrand@legrandgroup.netGembloux
Phone
081/43.55.16Gembloux
E-invoicing
Reachable via Peppol
Peppol ID
0208:0506797779
Also
9925:BE0506797779
Registered
05-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.