BORREVELD
ActiveSummary
BORREVELD has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €217,862 and a net result of €4,492. Equity is shrinking by ~10% per year across the filed fiscal years. Its solvency ranks better than 35% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▼-11
Solvency38▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.05 in 2024; short-term debt: 25% and cash: 0.1% of total assets), and 86.9% 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
13.1%
Return on assets
0.3%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 06-10-2025, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
2 d early
2023
on the day
2022
3 d late
2021
3 d late
2020
65 d late
2019
22 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 9 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 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 31 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€217,862▲ 2.1%
2024 · €213,371
Total assets
€1.7m▼ 4.0%
2024 · €1.7m
Net result
€4,492
2024 · -€10,816
Working capital
-€384,692▲ 1.3%
2024 · -€389,853
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
Operating result€3,158-€16,341-€23,121▼ 41.5%€9,442€45,841▲ 386%
Net result-€14,772below the sector's middle half▲ 47.3%-€37,636below the sector's middle half▼ 155%-€44,370below the sector's middle half▼ 17.9%-€10,816below the sector's middle half▲ 75.6%€4,492within the sector's middle half
Equity€306,193within the sector's middle half▼ 4.6%€268,558within the sector's middle half▼ 12.3%€224,187within the sector's middle half▼ 16.5%€213,371within the sector's middle half▼ 4.8%€217,862within the sector's middle half▲ 2.1%
Total assets€1.3mabove the sector's middle half▲ 39.9%€1.6mabove the sector's middle half▲ 28.0%€1.7mabove the sector's middle half▲ 6.4%€1.7mabove the sector's middle half▼ 0.4%€1.7mabove the sector's middle half▼ 4.0%
Debt€948,070▲ 66.9%€1.3m▲ 41.9%€1.5m▲ 11.2%€1.5m▲ 0.4%€1.4m▼ 4.8%
Working capital-€34,765within the sector's middle half-€78,606below the sector's middle half▼ 126%-€93,204below the sector's middle half▼ 18.6%-€389,853below the sector's middle half▼ 318%-€384,692below the sector's middle half▲ 1.3%
Solvency23.9%within the sector's middle half▼ 11.2pp16.4%within the sector's middle half▼ 7.5pp12.9%within the sector's middle half▼ 3.5pp12.3%within the sector's middle half▼ 0.6pp13.1%within the sector's middle half▲ 0.8pp
Current ratio0.70within the sector's middle half▼ 0.380.44within the sector's middle half▼ 0.260.07below the sector's middle half▼ 0.370.05below the sector's middle half▼ 0.020.08below the sector's middle half▲ 0.02
Return on assets (ROA)-1.2%within the sector's middle half▲ 1.9pp-2.3%below the sector's middle half▼ 1.1pp-2.5%within the sector's middle half▼ 0.2pp-0.6%within the sector's middle half▲ 1.9pp0.3%within the sector's middle half▲ 0.9pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 386% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€1.6m ▼ 4.6%
Current assets
€31,737 ▲ 39.9%
Equity and liabilities €1.7m
Equity
€217,862 ▲ 2.1%
Provisions
€18,848 ▼ 7.1%
Debt
€1.4m ▼ 4.8%
Debt's share of the balance-sheet total falls from 86.5% to 85.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€139,763▲
2024 · €102,844
Cash flow
€98,414▲
2024 · €82,586
Debt to equity
6.56▼
2024 · 7.04
ROE
2.1%▲
2024 · -5.1%
Interest coverage
3.27▼
2024 · 4.74
Debt ≤ 1 year
€416,429▲
2024 · €412,541
Debt > 1 year
€1.0m▼
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,678 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.4% 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 497,662 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 4,678 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,108 | €60,737 | €80,706 | €93,402 | €93,922 | ▲ 0.6% |
| Other operating charges640/8 | - | €8 | €4,128 | €8,342 | €10,046 | ▲ 20.4% |
| Gross operating margin9900 | €37,339 | €44,404 | €61,713 | €111,186 | €149,809 | ▲ 34.7% |
| Operating profit (loss)9901 | €3,158 | -€16,341 | -€23,121 | €9,442 | €45,841 | ▲ 386% |
| Financial charges65/66B | - | €22,633 | €22,699 | €21,707 | €42,798 | ▲ 97.2% |
| Recurring financial charges65 | €18,481 | €22,633 | €22,699 | €21,707 | €42,798 | ▲ 97.2% |
| Profit (loss) for the period before taxes9903 | -€15,323 | -€38,973 | -€45,819 | -€12,265 | €3,043 | ▲ 125% |
| Transfer from deferred taxes780 | - | €1,338 | €1,449 | €1,449 | €1,449 | = |
| Profit (loss) for the period9904 | -€14,772 | -€37,636 | -€44,370 | -€10,816 | €4,492 | ▲ 142% |
| Transfer from tax-exempt reserves789 | - | €3,185 | €3,434 | €3,434 | €3,434 | = |
| Profit (loss) for the period to be appropriated9905 | -€13,459 | -€34,451 | -€40,936 | -€7,382 | €7,926 | ▲ 207% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.6m | €1.7m | €1.7m | €1.7m | ▼ 4.0% |
| Fixed assets21/28 | €1.2m | €1.6m | €1.7m | €1.7m | €1.6m | ▼ 4.6% |
| Tangible fixed assets22/27 | €1.2m | €1.6m | €1.7m | €1.7m | €1.6m | ▼ 4.6% |
| Land and buildings22 | - | €705,745 | €915,759 | €956,513 | €939,770 | ▼ 1.8% |
| Other tangible fixed assets26 | - | €868,288 | €818,430 | €756,143 | €694,864 | ▼ 8.1% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €82,628 | €62,768 | €7,329 | €22,689 | €31,737 | ▲ 39.9% |
| Amounts receivable within one year40/41 | €70,907 | €61,250 | €4,250 | €22,200 | €30,400 | ▲ 36.9% |
| Other amounts receivable41 | - | €61,250 | €4,250 | €22,200 | €30,400 | ▲ 36.9% |
| Cash at bank and in hand54/58 | €10,663 | €15 | €3,079 | €489 | €1,337 | ▲ 174% |
| Deferred charges and accrued income490/1 | - | €1,503 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.6m | €1.7m | €1.7m | €1.7m | ▼ 4.0% |
| Equity10/15 | €306,193 | €268,558 | €224,187 | €213,371 | €217,862 | ▲ 2.1% |
| Contributions10/11 | €550,000 | €550,000 | €550,000 | €550,000 | €550,000 | = |
| Capital10 | - | €550,000 | €550,000 | €550,000 | €550,000 | = |
| Issued capital100 | - | €550,000 | €550,000 | €550,000 | €550,000 | = |
| Reserves13 | €58,403 | €55,218 | €51,784 | €48,350 | €44,915 | ▼ 7.1% |
| Tax-exempt reserves132 | - | €55,218 | €51,784 | €48,350 | €44,915 | ▼ 7.1% |
| Profit (loss) carried forward14 | -€302,209 | -€336,661 | -€377,597 | -€384,979 | -€377,053 | ▲ 2.1% |
| Provisions and deferred taxes16 | €24,532 | €23,194 | €21,746 | €20,297 | €18,848 | ▼ 7.1% |
| Deferred taxes168 | - | €23,194 | €21,746 | €20,297 | €18,848 | ▼ 7.1% |
| Amounts payable17/49 | €948,070 | €1.3m | €1.5m | €1.5m | €1.4m | ▼ 4.8% |
| Amounts payable after more than one year17 | €830,677 | €1.2m | €1.4m | €1.1m | €1.0m | ▼ 7.0% |
| Financial debts170/4 | - | €1.2m | €1.4m | €1.1m | €1.0m | ▼ 7.0% |
| Amounts payable within one year42/48 | €117,393 | €141,374 | €100,533 | €412,541 | €416,429 | ▲ 0.9% |
| Current portion of amounts payable after more than one year42 | - | €76,946 | €82,887 | €84,581 | €83,548 | ▼ 1.2% |
| Financial debts43 | - | €10,118 | €0 | €300,000 | €300,000 | = |
| Credit institutions430/8 | - | €6,953 | - | €300,000 | €300,000 | = |
| Other loans439 | - | €3,165 | €0 | - | - | - |
| Trade debts44 | €38,600 | €50,466 | €10,881 | €8,745 | €13,666 | ▲ 56.3% |
| Suppliers440/4 | - | €50,466 | €10,881 | €8,745 | €13,666 | ▲ 56.3% |
| Other amounts payable47/48 | - | €3,843 | €6,765 | €19,215 | €19,215 | = |
| Accrued charges and deferred income492/3 | - | €1,200 | €1,252 | €1,159 | €1,065 | ▼ 8.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,772 | -€37,636 | -€44,370 | -€10,816 | €4,492 | ▲ 142% |
| + Depreciation and write-downs630 | €33,108 | €60,737 | €80,706 | €93,402 | €93,922 | ▲ 0.6% |
| Operating cash flow (approximation) | €18,336 | €23,101 | €36,335 | €82,586 | €98,414 | ▲ 19.2% |
| Investment in fixed assets (approximation) | - | -€438,653 | -€240,860 | -€71,870 | -€15,900 | ▲ 77.9% |
| Change in cash | - | -€10,648 | €3,065 | -€2,591 | €848 | ▲ 133% |
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
30-03
State Gazette act
Appointment: Lara Winderickx (director)Mandate compensation · Power of attorney4 facts ▸
State Gazette act
Appointment: Lara Winderickx (director)
Mandate compensation · Power of attorney4 facts ▸
- General meeting, 16/03/2026
- Director appointment, Lara Winderickx (director)
- Mandate compensation, Lara Winderickx
- Power of attorney, PKF Bofidi Accountants & Advisers BV
2025
06-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €4,492
Net result €4,492 after 5 loss-making years.
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet -€44,370
Net result drops to -€44,370, the lowest in the series; recovery starts the following year.
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2021
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
04-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 65 days late
2019
22-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 22 days late
2018
14-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
22-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
26-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Lara Winderickx
CurrentDirector · since 01-04-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Genesius-Rode · 1 establishment unit since 1993
Ground area
1.1 ha
Building footprint
2,117 m²
Volume, LiDAR
5,429 m³
2 parcels, Flanders · tallest building 12.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Molenbeekstraat 30, 1653 Beersel
since 19932.064.842.265
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22004D0028/00H005 | Flanders | 1.1 ha | 1 · 1,812 m² | 4.9 m |
| 23017D0022/00V000 | Flanders | 469 m² | 1 · 304 m² | 12.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Lara Winderickx |
|
Structure & network
Owners and holdings
1 ownerChain of control
- Rekreatie-Investering
- BORREVELD
Highest known parent: Rekreatie-Investering. The sources do not say who stands above it.
Owners 1
-
99.97%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
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Shareholding
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 4,862 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
Founded06-12-1993
Fiscal year end31-03
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451528763
Also
9925:BE0451528763
Registered
09-09-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.