BREW2320
ActiveSummary
BREW2320 has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€567,921) and a net result of €249,895. Equity is shrinking by ~23.4% per year across the filed fiscal years. Its solvency ranks better than 12% of 9341 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▲+16
Solvency19▲+5
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.63 against 12.5 in 2024; short-term debt: 36.8% and cash: 0% of total assets), but equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
-6.1%
Return on assets
2.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 9341 sector peers (2025).
NBB · sector comparisonPosition among 9341 sector peers
Solvency
better than 12%
← weakest
strongest →
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 16-07-2026, 15 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
15 d early
2024
17 d early
2023
6 d early
2022
85 d late
2021
40 d late
2020
2 d late
2019
80 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 24 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. Usually files around 26 July (4 of the last 5 filed years within 45 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€567,921▲ 30.6%
2024 · -€817,816
Total assets
€9.4m▲ 28.8%
2024 · €7.3m
Net result
€249,895
2024 · -€281,867
Working capital
€5.6m▼ 12.4%
2024 · €6.4m
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-€29,469€35,939-€4,413-€13,171▼ 198%€472,460
Net result-€195,024below the sector's middle half▼ 251%-€193,608below the sector's middle half▲ 0.7%€11,179within the sector's middle half-€281,867below the sector's middle half€249,895above the sector's middle half
Equity-€353,520below the sector's middle half▼ 123%-€547,128below the sector's middle half▼ 54.8%-€535,949below the sector's middle half▲ 2.0%-€817,816below the sector's middle half▼ 52.6%-€567,921below the sector's middle half▲ 30.6%
Total assets€5.1mabove the sector's middle half▲ 4.9%€5.6mabove the sector's middle half▲ 9.5%€6.2mabove the sector's middle half▲ 9.9%€7.3mabove the sector's middle half▲ 18.0%€9.4mabove the sector's middle half▲ 28.8%
Debt€5.5m▲ 8.6%€6.2m▲ 12.5%€6.7m▲ 8.8%€8.1m▲ 20.8%€9.9m▲ 22.8%
Working capital€1.6mabove the sector's middle half▼ 65.0%€5.2mabove the sector's middle half▲ 224%€5.8mabove the sector's middle half▲ 12.2%€6.4mabove the sector's middle half▲ 10.4%€5.6mabove the sector's middle half▼ 12.4%
Solvency-6.9%below the sector's middle half▼ 3.7pp-9.7%below the sector's middle half▼ 2.8pp-8.7%below the sector's middle half▲ 1.1pp-11.2%below the sector's middle half▼ 2.5pp-6.1%below the sector's middle half▲ 5.2pp
Current ratio1.49within the sector's middle half38.53above the sector's middle half▲ 37.0312.50above the sector's middle half2.63within the sector's middle half▼ 9.86
Return on assets (ROA)-3.8%below the sector's middle half▼ 2.7pp-3.4%below the sector's middle half▲ 0.4pp0.2%within the sector's middle half▲ 3.6pp-3.9%below the sector's middle half▼ 4.1pp2.7%within the sector's middle half▲ 6.5pp
Staff (FTE)0below 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 schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €472,460 after a loss of €13,171 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.4m
Fixed assets
€280,120 =
Current assets
€9.1m ▲ 29.9%
Key figures and ratios
Quick ratio
1.54▼
2024 · 4.77
Debt to equity
-17.51▼
2024 · -9.90
Debt ≤ 1 year
€3.5m▲
2024 · €560,115
Debt > 1 year
€6.4m▼
2024 · €7.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 133 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Medium-sized
- negative equity
- a profit under 5% of the balance sheet
- without age
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 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% 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 133 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 | - | - | - | €3,000 | €2,705 | ▼ 9.8% |
| Other operating charges640/8 | €5,670 | €8,031 | €10,498 | €6,730 | €1,978 | ▼ 70.6% |
| Non-recurring operating charges66A | €4,037 | €1,389 | - | - | €75,000 | - |
| Gross operating margin9900 | -€19,762 | €45,359 | €6,085 | -€6,441 | €549,438 | ▲ 8,631% |
| Operating profit (loss)9901 | -€29,469 | €35,939 | -€4,413 | -€13,171 | €472,460 | ▲ 3,687% |
| Financial income75/76B | €33 | €220 | €253,050 | €996 | €34,956 | ▲ 3,408% |
| Recurring financial income75 | €33 | €220 | €278 | €996 | €34,956 | ▲ 3,408% |
| Non-recurring financial income76B | - | - | €252,771 | - | - | - |
| Financial charges65/66B | €165,588 | €229,768 | €237,458 | €269,691 | €257,521 | ▼ 4.5% |
| Recurring financial charges65 | €165,588 | €229,768 | €237,458 | €269,691 | €257,521 | ▼ 4.5% |
| Profit (loss) for the period before taxes9903 | -€195,024 | -€193,608 | €11,179 | -€281,866 | €249,895 | ▲ 189% |
| Income taxes67/77 | - | - | - | €1 | - | - |
| Profit (loss) for the period9904 | -€195,024 | -€193,608 | €11,179 | -€281,867 | €249,895 | ▲ 189% |
| Profit (loss) for the period to be appropriated9905 | -€195,024 | -€193,608 | €11,179 | -€281,867 | €249,895 | ▲ 189% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.1m | €5.6m | €6.2m | €7.3m | €9.4m | ▲ 28.8% |
| Fixed assets21/28 | €280,000 | €280,000 | €280,120 | €280,120 | €280,120 | = |
| Financial fixed assets28 | €280,000 | €280,000 | €280,120 | €280,120 | €280,120 | = |
| Current assets29/58 | €4.8m | €5.3m | €5.9m | €7.0m | €9.1m | ▲ 29.9% |
| Amounts receivable after more than one year29 | - | - | - | - | €2.4m | - |
| Trade receivables290 | - | - | - | - | €2.4m | - |
| Stocks and contracts in progress3 | €4.8m | €5.2m | €5.8m | €4.3m | €3.8m | ▼ 12.8% |
| Stocks30/36 | €4.8m | €5.2m | €5.8m | €4.3m | €3.8m | ▼ 12.8% |
| Amounts receivable within one year40/41 | €36,891 | €45,763 | €27,371 | €2.7m | €2.9m | ▲ 7.9% |
| Trade receivables40 | €158 | €0 | €500 | €2.5m | €502 | ▼ 100.0% |
| Other amounts receivable41 | €36,733 | €45,763 | €26,871 | €189,711 | €2.9m | ▲ 1,412% |
| Current investments50/53 | - | - | - | €3 | €3 | ▲ 0.3% |
| Cash at bank and in hand54/58 | €28,655 | €45,450 | €46,920 | €11,607 | €3,909 | ▼ 66.3% |
| Deferred charges and accrued income490/1 | €33 | €220 | - | - | €14,141 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.1m | €5.6m | €6.2m | €7.3m | €9.4m | ▲ 28.8% |
| Equity10/15 | -€353,520 | -€547,128 | -€535,949 | -€817,816 | -€567,921 | ▲ 30.6% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€373,520 | -€567,128 | -€555,949 | -€837,816 | -€587,921 | ▲ 29.8% |
| Amounts payable17/49 | €5.5m | €6.2m | €6.7m | €8.1m | €9.9m | ▲ 22.8% |
| Amounts payable after more than one year17 | €2.2m | €6.0m | €6.6m | €7.5m | €6.4m | ▼ 14.3% |
| Financial debts170/4 | €2.2m | €6.0m | €6.6m | €7.5m | €6.4m | ▼ 14.3% |
| Amounts payable within one year42/48 | €3.2m | €138,493 | €58,841 | €560,115 | €3.5m | ▲ 517% |
| Current portion of amounts payable after more than one year42 | €3.0m | - | - | - | - | - |
| Trade debts44 | €213,061 | €138,493 | €58,841 | €0 | - | - |
| Suppliers440/4 | €213,061 | €138,493 | €58,841 | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €243,553 | - | - |
| Taxes450/3 | - | - | - | €243,553 | - | - |
| Other amounts payable47/48 | €28 | €0 | - | €316,562 | €3.5m | ▲ 991% |
| Accrued charges and deferred income492/3 | €143 | €23,738 | €37,250 | €47,637 | €68,478 | ▲ 43.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€195,024 | -€193,608 | €11,179 | -€281,867 | €249,895 | ▲ 189% |
| Operating cash flow (approximation) | -€195,024 | -€193,608 | €11,179 | -€281,867 | €249,895 | ▲ 189% |
| Investment in fixed assets (approximation) | - | €0 | -€120 | €0 | €0 | - |
| Change in cash | - | €16,795 | €1,470 | -€35,313 | -€7,698 | ▲ 78.2% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €249,895
Net result €249,895 after one loss-making year.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€281,867
Net result drops to -€281,867, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €11,179
Net result €11,179 after 4 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 100.08
Current ratio from 38.53 to 100.08; short-term debt falls from €138,493 to €58,841.
24-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 85 days late
2022
31-12
Financial
Liquidity times 26current ratio 38.53
Current ratio from 1.49 to 38.53; short-term debt falls from €3.2m to €138,493.
09-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 40 days late
2021
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 2 days late
2020
31-12
Financial
Liquidity times 97current ratio 141.85
Current ratio from 1.46 to 141.85; short-term debt falls from €3.2m to €32,491.
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 80 days late
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, Antwerpen · 1 establishment unit since 2019
Ground area
1,867 m²
Building footprint
705 m²
Volume, LiDAR
7,582 m³
2 parcels, Flanders · tallest building 17.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
BREW2320
since 20192.288.694.709
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G1486/00D000indicative | Flanders | 1,239 m² | - | - |
| 13014E0346/00F000 | Flanders | 627 m² | 1 · 705 m² | 17.2 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
- Sourceaccounts JAROMA 202550%
Holdings 1
-
100%
According to the 2025 annual accounts of BREW2320 and those 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
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 195,291 EUR awarded · 59,082 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 100,000 EUR | 39,082 EUR |
| 2024 | 1 | -731,729 EUR | 0 EUR |
| 2023 | 2 | 75,291 EUR | 20,000 EUR |
| 2022 | 2 | 751,729 EUR | 0 EUR |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,294 companies in sector 68122 we hold annual accounts for 904. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
68121Development of residential building projects
68110Buying and selling of own real estate
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0725710052
Also
9925:BE0725710052
Registered
21-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.