Losses
Every financial year from 2022 to 2025 closed with a loss. 2022 was the heaviest.
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Every financial year from 2022 to 2025 closed with a loss. 2022 was the heaviest.
The last five annual accounts were filed 60 to 72 days before the end of the period.
Higher solvency than 95% of companies in real estate. Sector median 28.9% · 17,199 companies.
In July 2024, 5,831 companies had the same profile as BORGHANS has now. Each dot stands for 15 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 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 5,831 companies, not a prediction for BORGHANS. 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.
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The scores and ratios are Checked's own calculations, not a credit decision.
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| Company | ||||
|---|---|---|---|---|
| BORGHANS Mechelen | €98,598 | -€11,718 | 100.0% | - |
| IMMO CUBES Mechelen | €103,967 | -€88 | 100.0% | - |
| Société immobilière du Brabant central Watermael-Boitsfort | €89,050 | -€6,252 | -85.6% | - |
| IMMO MORTSEL Mortsel | €108,480 | -€2,843 | 69.4% | - |
| Pam Center Péruwelz | €132,894 | -€4,013 | 38.6% | - |
| STRAGIMO Roeselare | €99,520 | €1,436 | 80.1% | - |
| PROMEXA Brecht | €165,500 | -€3,765 | 74.1% | - |
These companies have the same main activity as BORGHANS: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €89,100 and €166,000, founded between 1968 and 1977.
BORGHANS files the micro format. That format states no turnover. The gross margin fell from €2,261 in 2010 to -€11,718 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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