Skip to content

Boost by Borlee

Active
Private limited companyfounded 2024active for 2 yearsRue d'Angoussart 79, 1301 Wavre, BelgiumKBO/BCE: BE 1015.719.167
Summary

Boost by Borlee has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €40,053 and a net result of €7,473. Its solvency ranks better than 53% of 2,862 sector peers (NACE 93, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Overview

Activity
Operation of sports facilities
NACE 93110
1 site
Size
≈ €140,000turnover 2025, estimated
Equity
€40,053
Profit
€7,473
Turnover estimated from the gross margin
Financial health
68 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
0.9%
Structure
2025 accounts 25 days early
Why 68raises riskFounded in 20241 change of registered office in 24 monthslowers riskSector: Sports, amusement and recreation activities (NACE 93)Liquidity: current ratio 0.66, cash €14,800Show the evidence

Checked score

Score 2025
68 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 57% of its sector peers (NACE 93, micro)
Financial strength · tick = 2024
Average
Solvency 57-22
equity 31.6% of total assets
Liquidity 28-50
short-term debt 68.4% · cash 11.7%
Profitability 76+53
return on assets 5.9%
Bankruptcy probability, 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (4,265 companies, NACE 93, micro)
Last 24 months 11-2025: 0.1% 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 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: 0.2%▲ +0.1 percentage points vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.8%▲ +0.6 percentage points vs 07-2026 09-2026: 0.8%● unchanged vs 08-2026 10-2026: 0.9%▲ +0.1 percentage points vs 09-2026highest value
Credit of up to €2,500 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.66, compared with 2.18 in 2024, below 1; short-term debt: 68.4% and cash: 11.7% of total assets), and 68.4% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 93, micro): better than 52% on solvency, 24% on liquidity, 62% on profitability and 88% on growth.

The bankruptcy probability was computed on 30-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

Credit check for your own amount and term

Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Sector: Sports, amusement and recreation activities (NACE 93)
KBO
raises risk · Founded in 2024
Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.
KBO
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
lowers risk · Liquidity: current ratio 0.66, cash €14,800
NBB · annual accounts
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 06-07-2026, 25 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
25 days early
2024
on the day
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 13 days before the deadline; the sector median (NACE 93) for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven months
Where today falls in the filing period
31-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since incorporation in 2024.
KBO publications · our coverage
  1. Registered officeRegistered-office move
  2. Annual accounts filedfinancial year 2025 · micro…
  3. Back to profitnet €7,473

Financials · financial year 2025, micro format

Turnover
≈ €140,000
Estimated: probably between €63,000 and €340,000
Total assets
€126,825▲ 204%
2024 · €41,663
Net result
€7,473
2024 · -€2,420
Working capital
-€29,504
2024 · €22,580
Trend over the years

2024 to 2025, 2 financial years

The operating result returns to profit in 2025: €9,268 after a loss of €2,420 in 2024.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€9,268 2025 Net result€7,473 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20242025
Operating result-€2,420-€9,268
Net result-€2,420within the sector's middle half-€7,473within the sector's middle half
Equity€22,580within the sector's middle half-€40,053within the sector's middle half▲ 77.4%
Total assets€41,663below the sector's middle half-€126,825within the sector's middle half▲ 204%
Debt€19,083-€86,772▲ 355%
Working capital€22,580within the sector's middle half--€29,504within the sector's middle half
Solvency54.2%within the sector's middle half-31.6%within the sector's middle half▼ 22.6pp
Current ratio2.18within the sector's middle half-0.66within the sector's middle half▼ 1.52
Return on assets (ROA)-5.8%below the sector's middle half-5.9%within the sector's middle half▲ 11.7pp
above within below the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €126,825
Fixed assets €69,557
Current assets €57,268
Equity and liabilities €126,825
Equity €40,053 ▲ 77.4%
Debt €86,772 ▲ 355%
Debt's share of the balance-sheet total rises from 45.8% to 68.4%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€23,862
Cash flow
€22,067
Debt to equity
2.17▲
2024 · 0.85
ROE
18.7%▲
2024 · -10.7%
Interest coverage
over 100
Debt ≤ 1 year
€86,772▲
2024 · €19,083
Income taxes
€1,726
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.9% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
1.8% went bankrupt
2.3% stopped otherwise
95.9% still going

For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 39,278 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 36 lines
Balance sheet Code20242025
Assets
Total assets20/58€41,663€126,825▲
Fixed assets21/28-€69,557
Intangible fixed assets21-€8,710
Tangible fixed assets22/27-€60,797
Furniture and vehicles24-€60,797
Financial fixed assets28-€50
Current assets29/58€41,663€57,268▲
Amounts receivable within one year40/41€23,455€42,233▲
Trade receivables40€21,905€26,037▲
Other amounts receivable41€1,550€16,196▲
Cash at bank and in hand54/58€18,208€14,800▼
Deferred charges and accrued income490/1-€235
Equity and liabilities
Total equity and liabilities10/49€41,663€126,825▲
Equity10/15€22,580€40,053▲
Contributions10/11€25,000€35,000▲
Profit (loss) carried forward14-€2,420€5,053▲
Amounts payable17/49€19,083€86,772▲
Amounts payable within one year42/48€19,083€86,772▲
Trade debts44€19,083€85,046▲
Suppliers440/4€19,083€85,046▲
Taxes, remuneration and social security45-€1,726
Taxes450/3-€1,726
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€14,594
Other operating charges640/8-€592
Gross operating margin9900-€2,420€24,454▲
Operating profit (loss)9901-€2,420€9,268▲
Financial income75/76B-€99
Recurring financial income75-€99
Financial charges65/66B-€168
Recurring financial charges65-€168
Profit (loss) for the period before taxes9903-€2,420€9,199▲
Income taxes67/77-€1,726
Profit (loss) for the period9904-€2,420€7,473▲
Profit (loss) for the period to be appropriated9905-€2,420€7,473▲
Appropriation of the result
Profit (loss) to be appropriated9906-€2,420€5,053▲
Profit (loss) brought forward from the previous period14P--€2,420

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€14,594-
Other operating charges640/8-€592-
Gross operating margin9900-€2,420€24,454-
Operating profit (loss)9901-€2,420€9,268-
Financial income75/76B-€99-
Recurring financial income75-€99-
Financial charges65/66B-€168-
Recurring financial charges65-€168-
Profit (loss) for the period before taxes9903-€2,420€9,199-
Income taxes67/77-€1,726-
Profit (loss) for the period9904-€2,420€7,473-
Profit (loss) for the period to be appropriated9905-€2,420€7,473-
Line20242025Change
Assets
Total assets20/58€41,663€126,825▲ 204%
Fixed assets21/28-€69,557-
Intangible fixed assets21-€8,710-
Tangible fixed assets22/27-€60,797-
Furniture and vehicles24-€60,797-
Financial fixed assets28-€50-
Current assets29/58€41,663€57,268▲ 37.5%
Amounts receivable within one year40/41€23,455€42,233▲ 80.1%
Trade receivables40€21,905€26,037▲ 18.9%
Other amounts receivable41€1,550€16,196▲ 945%
Cash at bank and in hand54/58€18,208€14,800▼ 18.7%
Deferred charges and accrued income490/1-€235-
Equity and liabilities
Total equity and liabilities10/49€41,663€126,825▲ 204%
Equity10/15€22,580€40,053▲ 77.4%
Contributions10/11€25,000€35,000▲ 40.0%
Profit (loss) carried forward14-€2,420€5,053-
Amounts payable17/49€19,083€86,772▲ 355%
Amounts payable within one year42/48€19,083€86,772▲ 355%
Trade debts44€19,083€85,046▲ 346%
Suppliers440/4€19,083€85,046▲ 346%
Taxes, remuneration and social security45-€1,726-
Taxes450/3-€1,726-
Line20242025Change
Profit (loss) for the period9904-€2,420€7,473-
+ Depreciation and write-downs630-€14,594-
Operating cash flow (approximation)-€2,420€22,067-
Change in cash--€3,408-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (2)
Financial year Type Filed Reference
31-12-2025 micro format 06-07-2026 2026-00257582
31-12-2024 micro format 31-07-2025 2025-00344175

Similar companies · same sector, comparable size

Of the 3,261 active companies whose main activity is operation of sports facilities (NACE 93110), figures are known for 1,564. 982 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Directors
2 directors, no change since 2024
Jacques BORLEE
Director · since 31-10-2024
Current
Laurence AUBOIN
Director · since 31-10-2024
Current
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →

Mandate history

2 people since 2024, 2 in office
Show
  • Board
Mandates per person, with start and end dates
Name Functions and periods
Jacques BORLEE
  • Director, from 31-10-2024 to date
Laurence AUBOIN
  • Director, from 31-10-2024 to date
See the board, name and registered office on a given date →

Owners and capital

Capital and shareholders

Shareholders according to the deeds
At incorporation act of 31-10-2024 ↗
  • Jacques Marc Pierre BORLÉE €20,000 in cash
  • Laurence AUBOIN €10,000
  • Olivia Béatrice Serge BORLÉE

The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.

Capital over the years
  1. 31-10-2024 Incorporation · €35,000

Group and network

Connections & network

1 connected company
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors

History

On 29 October 2024, Boost by Borlee was incorporated as a private limited company by three natural persons, with a starting capital of €35,000.12 In 2026 the registered office moved to Wavre.3 Of the 2 current board members, 2 have served since 2024.2

  1. 1KBO register
  2. 2Belgian Official Gazette, 31-10-2024
  3. 3Belgian Official Gazette, 17-07-2026

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
17-07
Gazette deed Registered office
Registered-office move2 facts ▸
  • Board meeting, 14-07-2026
  • Registered-office move, Rue d'Angoussart 79,1301 Wavre
06-07
NBB filing Annual accounts filed
financial year 2025 · micro format
2025
31-12
Financial Back to profitnet €7,473
Net result €7,473 after one loss-making year.
31-07
NBB filing Annual accounts filed
financial year 2024 · micro format
2024
31-10
Gazette deed Incorporation
Appointments: Jacques Marc Pierre BORLÉE (director) and Laurence AUBOIN (director) · Founding capital · Founder9 facts ▸
  • Director appointment, Jacques Marc Pierre BORLÉE (director)
  • Director appointment, Laurence AUBOIN (director)
  • Other provision, “absence d'interdiction de gérer, ne pas avoir fait l'objet d'une interdiction visée à article 6 loi du 04-05-2023 relative au Registre central des interdictions…” (deed in French)
  • Incorporation, 29-10-2024
  • Other provision, “contact@boostbyborlee.com, adresse électronique de la société” (deed in French)
  • Founding capital, €35,000
  • Founder, Jacques Marc Pierre BORLÉE
  • Founder, Laurence AUBOIN
  • Other provision, “actionnaire n'ayant pas encore libéré apport”, EUR (deed in French)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
2 of 2 deeds read

Register details

Identification
Legal formPrivate limited company
Founded29-10-2024
Financial year end31-12
Abbreviation FR BbB
Activities, NACEBEL 2025
93110Operation of sports facilities
Contact
E-mail contact@boostbyborlee.com
E-invoicing
Reachable via Peppol
Peppol ID 0208:1015719167
Registered 05-11-2024

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 31 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Wavre · 1 establishment unit since 2024
registered office establishment The establishment unit on the map
Ground area
1.2 ha
Building footprint
496 m²
Building volume
2,961 m³
Parcel 25006B0420/00D000, Wallonia · tallest building 10.0 m. Linked by address, not a title deed.
6 companies at this address See who is registered here
1 establishment unit
Boost by Borlee
Rue d'Angoussart 79, 1301 WavreOperation of sports facilities
since 2024unit no. 2.366.291.838
1 parcel
Wallonia 1 (100%)
Cadastral parcel Region Area Buildings Height / floors
25006B0420/00D000 Wallonia 1.2 ha 1 · 496 m² 10.0 m · 2
How the parcels are linked
Good to know
The parcel matches the address exactly.

Articles of association

What the company does

PurposeThe activities the company may carry out under its articles.
“La gestion et l'exploitation de centres sportifs pouvant être utilisés pour la pratique de différents sports et disciplines, la gestion et…” (deed in French)
33 activities (deed in French)
  1. La gestion et l'exploitation de centres sportifs pouvant être utilisés pour la pratique de différents sports et disciplines, la gestion et l'exploitation de centres multifonctionnels, principalement utilisés pour la pratique du sport ;
  2. La gestion et l'exploitation de centres de remise en forme, de gymnases, d'autres installations sportives et d'hébergement ;
  3. La gestion et l'exploitation de centres sportifs, de fitness, incluant la mise à disposition d'équipements sportifs, de fitness, de musculation, technologiques au sens large, l'organisation de cours et de coaching collectifs, individuels, ainsi que la vente de produits et accessoires liés à la pratique sportive ou en lien direct ou indirect avec l'objet social ou permettant de développer son activité ;
  4. Les activités des clubs et des fédérations sportives ;
  5. L'organisation et la mise en œuvre de manifestations sportives ;
  6. Toutes activités diverses liées au sport ;
  7. La vente de boissons et d'aliments consommés et généralement proposés dans des emballages jetables ;
  8. Le commerce de détail et de gros d'articles de sport, d'aliments et d'articles de soins ;
  9. Le conseil en alimentation ;
  10. Le développement, l'achat, la vente, la concession de licences, marques ou l'octroi de brevets, de savoir-faire et d'actifs incorporels connexes, les actifs incorporels qui s'y rapportent ;
  11. La recherche, le développement, la fabrication ou la commercialisation de nouveaux produits, de nouvelles formes de technologie et de leurs applications ;
  12. L'entreprise agit pour son propre compte, en consignation, à la commission, en tant qu'intermédiaire ou en tant que représentant ;
  13. La mise en place de tout type d'aménagement, de toutes sortes de manifestations festives, artistiques, culturelles, éducatives, scientifiques ou sportives ;
  14. L'entraînement sportif et médical à l'aide d'équipements sportifs, de musculation, de stimulation et d'entraînement cognitifs basé sur les neurosciences ou équivalent, d'appareil favorisant le sommeil, et tout autre appareil lié à l'objet social ou favorisant son développement ;
  15. L'amélioration des performances sportives, de la silhouette, de la posture, de la physiologie, de la performance mentale et toutes autres activités similaires et connexes au sens large ;
  16. L'entraînement général de la condition physique, l'entraînement à la rééducation et réadaptation au sens large ;
  17. Les tests médicaux sportifs ;
  18. La conception et la préparation de programmes d'entraînement ;
  19. Les services financiers et services administratifs centraux aux entreprises affiliées, liées, franchisées, licenciées ou exploitant l'utilisation de la marque à quelque titre que ce soit ;
  20. L'assistance au sens large de sportifs professionnels dans les différents domaines de leurs activités, en ce compris le conseil sportif, technique, médical sans être exhaustif ;
  21. La conception, le développement et l'organisation d'événements sportifs, éducatifs et/ou culturels ;
  22. La conception, le développement et la promotion de projets éducatifs et de méthodes d'enseignement et d'entraînements ;
  23. L'organisation et/ou la participation (à) de(s) conférences, séminaires et autres formations en tous genres ;
  24. L'achat et la vente de produits en lien avec le bien-être à destination du milieu professionnel, sportif et privé de tout produit en lien de près ou de loin avec l'objet de la société ou favorisant son développement ;
  25. La société a également pour objet la prise de participations sous quelque forme que ce soit, dans d'autres sociétés belges ou étrangères, ainsi que la gestion, le contrôle et la mise en valeur de ces participations ;
  26. Les activités d’enseignement et de formation ;
  27. Les autres activités de service et activités extraterritoriales ;
  28. Toutes les activités relatives au transport national et international, à la logistique, à l’entreposage et au stockage de tous produits, articles, matériel, et ce au sens large ;
  29. L'importation, l'exportation, l’achat, la vente dans le monde entier de tous produits, matières et services de toutes origines. A ces effets, la société peut ouvrir tout magasin de gros, de demi-gros ou de détail ou en ligne ;
  30. La création, la commercialisation de parties de vêtements, d'articles d'habillement et d'articles chaussants pour êtres humains tant en Belgique qu'à l'étranger ;
  31. Les activités impliquant la gestion, l'exploitation, l'organisation et l'administration commerciale d'une entreprise commerciale ou industrielle ainsi que les services de publicité, de marketing et de promotion.
  32. La société a aussi pour objet, tant en Belgique qu’à l’étranger, la recherche, le développement, la conception, la production, la commercialisation et la distribution de produits et services innovants.
  33. Cela inclut, sans s’y limiter, les activités de recherche et développement (R&D) dans les domaines technologiques, scientifiques, industriels et commerciaux, ainsi que la mise sur le marché des produits et services résultant de ces activités de R&D.

The full purpose is in the deed

DurationHow long the company exists; usually unlimited, so until it is dissolved.
Unlimited
Name clauseThe name the company operates under according to its articles.
Boost by Borlee
Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
“Région wallonne, 1348 Ottignies-Louvain-la-Neuve (Louvain-la-Neuve), rue de l'Hocaille 5 boîte 112” (deed in French)

deed of 31-10-2024

Who represents it, and how

Who signsWho may bind the company towards others, for example by signing a contract.
“ORGANE D’ADMINISTRATION La société est administrée par un collège d’au moins deux administrateurs, personnes physiques ou morales…”
Board ruleHow the board is made up, meets and takes decisions.
“Collège d'administrateurs, avec ou sans limitation de durée” (deed in French)

deed of 31-10-2024

Capital, shares and profit

Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
“Émettre nouvelles actions de même classe qu'une classe existante,obligations convertibles ou droits de souscription en une ou plusieurs…” (deed in French)

deed of 31-10-2024

Meetings and financial year

Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
Second Tuesday of May at 16:00

deed of 31-10-2024

Other provisionsOther rules from the articles that fall under none of the themes above.

Other provision: “Affectation bénéfice net annuel, assemblée générale statuant sur proposition de l'organe d'administration” (deed in French)
Liquidation distribution: “Actif net attribué en priorité au remboursement de l'apport des titulaires d'actions de classe C en proportion de leurs actions, actif net…” (deed in French)
7 more provisions in the deed, see the deed of 31-10-2024

deed of 31-10-2024