BRENCO
ActiveSummary
BRENCO has been active since 1988 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 €328,791. Equity is growing by ~31.5% per year across the filed fiscal years. Its solvency ranks better than 45% 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
Profitability62▲+18
Solvency51▲+4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190,000 at 30 days acceptable
Liquidity short (current ratio 0.09 against 0.07 in 2024; short-term debt: 13.4% and cash: 0.3% of total assets), and 73.7% of the assets are financed with debt.
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Signals
Four 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
26.3%
Return on assets
3%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
4 d late
2023
on the day
2022
2 d late
2021
3 d early
2020
8 d late
2019
on the day
← 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 1 day 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.9m▲ 12.8%
2024 · €2.6m
Total assets
€11.0m▼ 4.4%
2024 · €11.5m
Net result
€328,791
2024 · -€223,835
Working capital
-€1.3m▲ 2.0%
2024 · -€1.4m
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-€49,381€2.8m€131,075▼ 95.4%-€78,587€630,206
Net result-€53,441below the sector's middle half€2.1mabove the sector's middle half€16,840within the sector's middle half▼ 99.2%-€223,835below the sector's middle half€328,791above the sector's middle half
Equity€683,446above the sector's middle half▼ 7.3%€2.8mabove the sector's middle half▲ 306%€2.8mabove the sector's middle half▲ 0.6%€2.6mabove the sector's middle half▼ 8.0%€2.9mabove the sector's middle half▲ 12.8%
Total assets€5.2mabove the sector's middle half▲ 2.7%€10.5mabove the sector's middle half▲ 100%€12.1mabove the sector's middle half▲ 15.5%€11.5mabove the sector's middle half▼ 4.8%€11.0mabove the sector's middle half▼ 4.4%
Debt€4.5m▲ 4.6%€7.7m▲ 70.0%€9.3m▲ 21.0%€8.9m▼ 3.9%€8.1m▼ 9.4%
Working capital€626,876▲ 819%-€1.6m-€3.7m▼ 129%-€1.4m▲ 62.4%-€1.3m▲ 2.0%
Solvency13.0%within the sector's middle half▼ 1.4pp26.4%within the sector's middle half▲ 13.4pp23.0%within the sector's middle half▼ 3.4pp22.3%within the sector's middle half▼ 0.8pp26.3%within the sector's middle half▲ 4.0pp
Staff (FTE)2.62.7▲ 3.8%2.7=2.7above the sector's middle half=2.7above the sector's middle half=
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €630,206 after a loss of €78,587 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.0m
Fixed assets
€10.9m ▼ 4.7%
Current assets
€129,661 ▲ 26.7%
Equity and liabilities €11.0m
Equity
€2.9m ▲ 12.8%
Provisions
€42,840 ▼ 6.6%
Debt
€8.1m ▼ 9.4%
Debt's share of the balance-sheet total falls from 77.3% to 73.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.2m▲
2024 · €485,301
Cash flow
€865,674▲
2024 · €340,053
Current ratio
0.09▲
2024 · 0.07
Debt to equity
2.79▼
2024 · 3.48
ROE
11.4%▲
2024 · -8.7%
ROA
3.0%▲
2024 · -1.9%
Interest coverage
4.76▲
2024 · 3.35
Debt ≤ 1 year
€1.5m=
2024 · €1.5m
Debt > 1 year
€4.0m▼
2024 · €4.8m
Income taxes
€59,561▲
2024 · €593
Staff costs
€112,850▼
2024 · €133,120
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,972 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.2% 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 3,972 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 | - | - | - | - | €18,271 | - |
| Remuneration, social security and pensions62 | - | €129,157 | €139,513 | €133,120 | €112,850 | ▼ 15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €324,765 | €449,014 | €543,944 | €563,888 | €536,883 | ▼ 4.8% |
| Other operating charges640/8 | - | €15,873 | €8,981 | €17,355 | €33,572 | ▲ 93.4% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €394,973 | €3.4m | €823,514 | €635,776 | €1.3m | ▲ 107% |
| Operating profit (loss)9901 | -€49,381 | €2.8m | €131,075 | -€78,587 | €630,206 | ▲ 902% |
| Financial income75/76B | - | €0 | €3 | €9 | €78 | ▲ 785% |
| Recurring financial income75 | €10 | €0 | €3 | €9 | €78 | ▲ 785% |
| Financial charges65/66B | - | €38,662 | €102,462 | €144,664 | €244,962 | ▲ 69.3% |
| Recurring financial charges65 | €14,362 | €38,662 | €102,462 | €144,664 | €244,962 | ▲ 69.3% |
| Profit (loss) for the period before taxes9903 | -€63,734 | €2.8m | €28,616 | -€223,242 | €385,321 | ▲ 273% |
| Transfer from deferred taxes780 | - | €1,515 | €1,515 | €0 | €3,030 | - |
| Income taxes67/77 | -€375 | €715,570 | €13,291 | €593 | €59,561 | ▲ 9,942% |
| Profit (loss) for the period9904 | -€53,441 | €2.1m | €16,840 | -€223,835 | €328,791 | ▲ 247% |
| Transfer from tax-exempt reserves789 | - | €4,545 | €4,545 | €0 | €9,091 | - |
| Profit (loss) for the period to be appropriated9905 | -€57,298 | €2.1m | €21,386 | -€223,835 | €337,882 | ▲ 251% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.2m | €10.5m | €12.1m | €11.5m | €11.0m | ▼ 4.4% |
| Fixed assets21/28 | €4.3m | €10.3m | €12.0m | €11.4m | €10.9m | ▼ 4.7% |
| Tangible fixed assets22/27 | €4.3m | €10.3m | €12.0m | €11.4m | €10.9m | ▼ 4.7% |
| Land and buildings22 | - | €9.5m | €11.4m | €11.1m | €10.7m | ▼ 3.3% |
| Plant, machinery and equipment23 | - | €1,196 | €126 | €0 | - | - |
| Furniture and vehicles24 | - | €790,999 | €554,860 | €326,660 | €158,310 | ▼ 51.5% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €906,442 | €180,997 | €125,599 | €102,330 | €129,661 | ▲ 26.7% |
| Amounts receivable within one year40/41 | €68,425 | €64,409 | €27,202 | €63,223 | €78,903 | ▲ 24.8% |
| Trade receivables40 | - | €64,405 | €26,786 | €62,977 | €78,762 | ▲ 25.1% |
| Other amounts receivable41 | - | €4 | €416 | €246 | €142 | ▼ 42.5% |
| Current investments50/53 | €41,108 | €2,495 | €2,497 | €2,512 | €2,531 | ▲ 0.8% |
| Cash at bank and in hand54/58 | €780,284 | €103,422 | €85,371 | €18,040 | €29,994 | ▲ 66.3% |
| Deferred charges and accrued income490/1 | - | €10,671 | €10,529 | €18,555 | €18,232 | ▼ 1.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.2m | €10.5m | €12.1m | €11.5m | €11.0m | ▼ 4.4% |
| Equity10/15 | €683,446 | €2.8m | €2.8m | €2.6m | €2.9m | ▲ 12.8% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €475,846 | €471,344 | €466,798 | €466,798 | €457,707 | ▼ 1.9% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | - | €139,484 | €134,938 | €134,938 | €125,847 | ▼ 6.7% |
| Distributable reserves133 | - | €330,000 | €330,000 | €331,860 | €331,860 | = |
| Profit (loss) carried forward14 | €189,001 | €2.3m | €2.3m | €2.1m | €2.4m | ▲ 16.2% |
| Provisions and deferred taxes16 | €48,944 | €47,385 | €45,870 | €45,870 | €42,840 | ▼ 6.6% |
| Deferred taxes168 | - | €47,385 | €45,870 | €45,870 | €42,840 | ▼ 6.6% |
| Amounts payable17/49 | €4.5m | €7.7m | €9.3m | €8.9m | €8.1m | ▼ 9.4% |
| Amounts payable after more than one year17 | €1.4m | €3.0m | €2.7m | €4.8m | €4.0m | ▼ 15.9% |
| Financial debts170/4 | - | €3.0m | €2.7m | €4.8m | €4.0m | ▼ 15.9% |
| Amounts payable within one year42/48 | €279,567 | €1.8m | €3.8m | €1.5m | €1.5m | = |
| Current portion of amounts payable after more than one year42 | - | €185,816 | €250,271 | €253,919 | €257,654 | ▲ 1.5% |
| Financial debts43 | - | €337,972 | €0 | - | - | - |
| Other loans439 | - | €337,972 | €0 | - | - | - |
| Trade debts44 | €35,242 | €35,839 | €2.3m | €21,072 | €24,522 | ▲ 16.4% |
| Suppliers440/4 | - | €35,839 | €2.3m | €21,072 | €24,522 | ▲ 16.4% |
| Advances received on contracts in progress46 | - | €32,670 | €32,670 | €32,670 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €768,485 | €108,963 | €23,413 | €74,180 | ▲ 217% |
| Taxes450/3 | - | €759,598 | €97,804 | €16,983 | €63,423 | ▲ 273% |
| Remuneration and social security454/9 | - | €8,887 | €11,158 | €6,430 | €10,757 | ▲ 67.3% |
| Other amounts payable47/48 | - | €416,758 | €1.1m | €1.1m | €1.1m | ▼ 2.2% |
| Accrued charges and deferred income492/3 | - | €2.9m | €2.8m | €2.6m | €2.6m | ▼ 2.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€53,441 | €2.1m | €16,840 | -€223,835 | €328,791 | ▲ 247% |
| + Depreciation and write-downs630 | €324,765 | €449,014 | €543,944 | €563,888 | €536,883 | ▼ 4.8% |
| Operating cash flow (approximation) | €271,324 | €2.5m | €560,785 | €340,053 | €865,674 | ▲ 155% |
| Investment in fixed assets (approximation) | - | -€6.4m | -€2.2m | -€2,185 | €0 | ▲ 100% |
| Change in cash | - | -€676,861 | -€18,051 | -€67,331 | €11,954 | ▲ 118% |
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
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Back to profitnet €328,791
Net result €328,791 after one loss-making year.
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 4 days late
2024
30-06
Financial
Weakest financial yearnet -€223,835
Net result drops to -€223,835, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
02-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2022
30-06
Financial
Back to profitnet €2.1m
Net result €2.1m after one loss-making year.
30-06
Financial
Equity above €2mEq €2.8m ▲306%
Equity rises from €683,446 to €2.8m.
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Liquidity triplescurrent ratio 3.24
Current ratio from 1.09 to 3.24; short-term debt falls from €740,310 to €279,567.
08-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 8 days late
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
01-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 1 day late
2018
11-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-09
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 8 acts read
About the unread acts
We know of 8 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
8 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, Sint-Martens-Latem · 1 establishment unit since 1988
Ground area
6,604 m²
Building footprint
623 m²
Volume, LiDAR
2,361 m³
Parcel 44064A0280/00N004, Flanders · tallest building 23.8 m, ±1 floor. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
BRENCO
since 19882.035.555.391
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064A0280/00N004 | Flanders | 6,604 m² | 1 · 623 m² | 23.8 m · 1 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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BE 0438.571.642
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FLO - MAT - BOIS
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 3,270 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
Founded06-01-1988
Fiscal year end30-06
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68121Development of residential building projects
68122Development of non-residential building projects
64210Activities of holding companies
71113Urban planning and landscape architecture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0433087875
Also
9925:BE0433087875
Registered
16-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.