BRICK RETAIL
ActiveSummary
BRICK RETAIL has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.5m and a net result of €53,323. Equity is growing by ~41.1% per year across the filed fiscal years. Its solvency ranks better than 46% of 4663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Renting and operating of own or leased non-residential real estate, excluding land
NACE 68203
1 site
How big
€7.3mtotal assets 2025
- Equity
- €2.5m
- Profit
- €53,323
Who decides
- Parent
- VL RETAIL · 100%
- Holdings
- 1
Accounts filed 3 d late1 of 10 deeds read
Why 61+ Lower-failure-rate sector+ Long track record+ Annual accounts: healthy financial profileFiled after the deadlineShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability22▼-8
Solvency59▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.14 in 2024; short-term debt: 14.2% and cash: 0.7% of total assets), and 65.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
34.1%
Return on assets
0.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
3 d late
2024
13 d early
2023
58 d late
2022
30 d late
2021
25 d late
2020
26 d late
2019
19 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 21 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 25 August (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · full…
- MiscellaneousCapital contribution · Bank account…
- Equity above €2mEq €2.5m ▲28.7%
Financials
Fiscal year 2025Total assets €7.3mProfit €53,323Solvency 34.1%Liquidity 1.07
Total assets
€7.3m▲ 7.9%
2018 - 2025
Net result
€53,323▲ 13.8%
2018 - 2025
Equity
€2.5m▲ 28.7%
2018 - 2025
Staff (FTE)
4.7▲ 147%
2018 - 2022
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.003m▼ 98.8%€0.1m▲ 3,142%-€0.02m-€0.005m▲ 70.6%-€0.05m▼ 830%
Net result-€0.04mbelow the sector's middle half€0.02mwithin the sector's middle half€0.2mabove the sector's middle half▲ 914%€0.05mwithin the sector's middle half▼ 74.2%€0.05mwithin the sector's middle half▲ 13.8%
Equity€0.9mwithin the sector's middle half▲ 110%€0.9mwithin the sector's middle half▲ 1.7%€1.4mwithin the sector's middle half▲ 53.7%€1.9mabove the sector's middle half▲ 39.7%€2.5mwithin the sector's middle half▲ 28.7%
Total assets€5.8mabove the sector's middle half▲ 308%€5.3mabove the sector's middle half▼ 8.3%€4.9mabove the sector's middle half▼ 8.4%€6.7mabove the sector's middle half▲ 38.6%€7.3mwithin the sector's middle half▲ 7.9%
Debt€4.9m▲ 391%€4.4m▼ 10.1%€3.5m▼ 21.0%€4.8m▲ 38.2%€4.8m▼ 0.4%
Working capital-€1.2mbelow the sector's middle half-€0.6mbelow the sector's middle half▲ 49.8%-€0.1mwithin the sector's middle half▲ 83.1%€0.08mwithin the sector's middle half€0.07mwithin the sector's middle half▼ 15.3%
Solvency15.3%within the sector's middle half▼ 14.4pp16.9%within the sector's middle half▲ 1.7pp28.4%within the sector's middle half▲ 11.4pp28.6%within the sector's middle half▲ 0.2pp34.1%within the sector's middle half▲ 5.5pp
Current ratio0.44below the sector's middle half▼ 1.000.59within the sector's middle half▲ 0.150.75within the sector's middle half▲ 0.161.14within the sector's middle half▲ 0.391.07within the sector's middle half▼ 0.07
Return on assets (ROA)-0.7%within the sector's middle half▼ 13.7pp0.3%within the sector's middle half▲ 1.0pp3.7%within the sector's middle half▲ 3.4pp0.7%within the sector's middle half▼ 3.0pp0.7%within the sector's middle half=
Staff (FTE)1.9within the sector's middle half▼ 13.6%4.7above the sector's middle half▲ 147%
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.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €48,944 in 2025 against €5,262 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.3m
Fixed assets
€6.2m ▲ 1.5%
Current assets
€1.1m ▲ 66.1%
Equity and liabilities €7.3m
Equity
€2.5m ▲ 28.7%
Debt
€4.8m ▼ 0.4%
Debt's share of the balance-sheet total falls from 71.4% to 65.9%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
EBITDA
€22,607▼
2024 · €134,174
Cash flow
€124,874▼
2024 · €186,305
Debt to equity
1.93▼
2024 · 2.50
ROE
2.2%▼
2024 · 2.4%
Interest coverage
0.23▼
2024 · 1.26
Debt ≤ 1 year
€1.0m▲
2024 · €583,522
Debt > 1 year
€3.7m▼
2024 · €4.2m
Staff costs
€594
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,860 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
98%
still going
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 497,341 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% | 1.8% |
| 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% 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 1,860 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €78,027 | €152,990 | - | - | €594 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €163,907 | €24,898 | €24,103 | €139,436 | €71,552 | ▼ 48.7% |
| Other operating charges640/8 | €3,767 | €4,798 | €5,131 | €19,286 | €47,725 | ▲ 147% |
| Gross operating margin9900 | €248,657 | €278,543 | €11,307 | €153,460 | €70,927 | ▼ 53.8% |
| Operating profit (loss)9901 | €2,956 | €95,857 | -€17,927 | -€5,262 | -€48,944 | ▼ 830% |
| Financial income75/76B | €32 | €4,479 | €260,000 | €158,333 | €200,094 | ▲ 26.4% |
| Recurring financial income75 | €32 | €4,479 | €260,000 | €158,333 | €200,094 | ▲ 26.4% |
| Financial charges65/66B | €39,763 | €82,447 | €57,721 | €106,202 | €97,827 | ▼ 7.9% |
| Recurring financial charges65 | €39,763 | €82,447 | €57,721 | €106,202 | €97,827 | ▼ 7.9% |
| Profit (loss) for the period before taxes9903 | -€36,775 | €17,889 | €184,352 | €46,869 | €53,323 | ▲ 13.8% |
| Income taxes67/77 | €982 | - | €2,959 | - | - | - |
| Profit (loss) for the period9904 | -€37,757 | €17,889 | €181,393 | €46,869 | €53,323 | ▲ 13.8% |
| Profit (loss) for the period to be appropriated9905 | -€37,757 | €17,889 | €181,393 | €46,869 | €53,323 | ▲ 13.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.8m | €5.3m | €4.9m | €6.7m | €7.3m | ▲ 7.9% |
| Formation expenses20 | €0.001m | €178 | - | - | - | - |
| Fixed assets21/28 | €4.9m | €4.5m | €4.6m | €6.1m | €6.2m | ▲ 1.5% |
| Tangible fixed assets22/27 | €1.7m | €1.3m | €1.4m | €2.9m | €3.0m | ▲ 3.2% |
| Land and buildings22 | €1.1m | €1.1m | €1.0m | €2.6m | €2.6m | ▲ 2.0% |
| Plant, machinery and equipment23 | €0.2m | - | - | - | - | - |
| Other tangible fixed assets26 | €0.4m | €0.2m | €0.3m | €0.3m | €0.4m | ▲ 13.7% |
| Financial fixed assets28 | €3.2m | €3.2m | €3.2m | €3.2m | €3.2m | = |
| Current assets29/58 | €0.9m | €0.8m | €0.3m | €0.7m | €1.1m | ▲ 66.1% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | €0.2m | = |
| Other amounts receivable291 | - | - | - | €0.2m | €0.2m | = |
| Stocks and contracts in progress3 | €0.3m | - | - | - | - | - |
| Stocks30/36 | €0.3m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.3m | €0.7m | €0.3m | €0.2m | €0.4m | ▲ 82.6% |
| Trade receivables40 | €0.1m | €0.1m | €0.2m | €0.1m | €0.4m | ▲ 188% |
| Other amounts receivable41 | €0.1m | €0.6m | €0.1m | €0.08m | €0.02m | ▼ 76.6% |
| Current investments50/53 | €335 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.3m | €0.08m | €0.02m | €0.03m | €0.05m | ▲ 84.2% |
| Deferred charges and accrued income490/1 | €0.005m | €41 | - | €0.2m | €0.5m | ▲ 101% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.8m | €5.3m | €4.9m | €6.7m | €7.3m | ▲ 7.9% |
| Equity10/15 | €0.9m | €0.9m | €1.4m | €1.9m | €2.5m | ▲ 28.7% |
| Contributions10/11 | €0.5m | €0.5m | €0.8m | €1.3m | €1.8m | ▲ 37.9% |
| Outside capital11 | - | - | - | - | €1.8m | - |
| Other1109/19 | - | - | - | - | €1.8m | - |
| Reserves13 | €0.4m | €0.4m | €0.6m | €0.6m | €0.7m | ▲ 8.8% |
| Distributable reserves133 | €0.4m | €0.4m | €0.6m | €0.6m | €0.7m | ▲ 8.8% |
| Profit (loss) carried forward14 | -€0.003m | - | - | - | - | - |
| Amounts payable17/49 | €4.9m | €4.4m | €3.5m | €4.8m | €4.8m | ▼ 0.4% |
| Amounts payable after more than one year17 | €2.9m | €3.0m | €3.1m | €4.2m | €3.7m | ▼ 11.6% |
| Financial debts170/4 | €2.5m | €2.7m | €3.1m | €4.2m | €3.7m | ▼ 11.6% |
| Trade debts175 | €0.3m | €0.3m | - | - | - | - |
| Amounts payable within one year42/48 | €2.0m | €1.4m | €0.4m | €0.6m | €1.0m | ▲ 77.5% |
| Current portion of amounts payable after more than one year42 | €1.0m | €0.3m | €0.4m | €0.4m | €0.3m | ▼ 32.3% |
| Financial debts43 | - | - | - | €0.001m | €0.5m | ▲ 35,662% |
| Credit institutions430/8 | - | - | - | €0.001m | €0.5m | ▲ 35,662% |
| Trade debts44 | €0.7m | €0.1m | €0.03m | €0.1m | €0.2m | ▲ 38.9% |
| Suppliers440/4 | €0.7m | €0.1m | €0.03m | €0.1m | €0.2m | ▲ 38.9% |
| Taxes, remuneration and social security45 | €0.007m | €0.01m | €0.009m | €0.01m | - | - |
| Taxes450/3 | €0.002m | €0.005m | €0.009m | €0.01m | - | - |
| Remuneration and social security454/9 | €0.005m | €0.006m | - | - | - | - |
| Other amounts payable47/48 | €0.4m | €1.0m | €0.006m | €0.01m | €0.08m | ▲ 544% |
| Accrued charges and deferred income492/3 | €0.005m | €0.02m | €0.02m | €0.03m | €0.05m | ▲ 40.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.04m | €0.02m | €0.2m | €0.05m | €0.05m | ▲ 13.8% |
| + Depreciation and write-downs630 | €0.2m | €0.02m | €0.02m | €0.1m | €0.07m | ▼ 48.7% |
| Operating cash flow (approximation) | €0.1m | €0.04m | €0.2m | €0.2m | €0.1m | ▼ 33.0% |
| Investment in fixed assets (approximation) | - | €0.4m | -€0.1m | -€1.6m | -€0.2m | ▲ 89.9% |
| Change in cash | - | -€0.2m | -€0.06m | €0.006m | €0.02m | ▲ 290% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
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VAN MALDEGHEM REAL ESTATE
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Koksijde · Eq €2,486,222
IMMOPORTUNITE
BE 0775.266.758
Waterloo · Eq €2,489,117
JUVA
BE 0431.775.407
Temse · Eq €2,489,217
Of 12,040 companies in this sector we hold annual accounts for 6,007. 3,438 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Board & ownership
Parent VL RETAIL · 100%1 holding
Directors
Directors
No directors read yet: 1 of 10 Gazette acts processed. See the function holders in the CBE →
Structure & network
Part of the group
VL RETAIL
12 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holding · 3 subsidiaries in the treeChain of control
- VL RETAIL
- BRICK RETAIL
Highest known parent: VL RETAIL. The sources do not say who stands above it.
Owners 1
- VL RETAILparentSourceaccounts VL RETAIL 2025100%
Holdings 1
-
100%
All subsidiaries, including indirect ones 3
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
UNIC MERE 100%2 subsidiaries
IMMO LEMAHIEU 100%1 subsidiary
- IMMAWIMBA 100%
According to the 2025 annual accounts of BRICK RETAIL 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 directors read yet: 1 of 10 Gazette acts processed.
Timeline
17 eventsLatest 03-08-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 3 days late
29-05
State Gazette act
MiscellaneousCapital contribution · Bank account · Power of attorney8 facts ▸
State Gazette act
Miscellaneous
Capital contribution · Bank account · Power of attorney8 facts ▸
- General meeting, 07-05-2026
- Capital contribution
- Other statement, afstand van verslag bestuurder over inbreng, bestuurder
- Other statement, kennis financiële toestand en statuten
- Bank account, bankattest als bewijs van storting
- Other statement, bevestiging deponering inbreng in geld, in geld
- Other statement, geen nieuwe aandelen voor inbreng, vergadering
- Power of attorney
2025
31-12
Financial
Equity above €2mEq €2.5m ▲28.7%
4 profitable years in a row build equity to €2.5m.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 58 days late
2023
31-12
Financial
Equity above €1mEq €1.4m ▲53.7%
2 profitable years in a row build equity to €1.4m.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Back to profitnet €17,889
Net result €17,889 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2021
31-12
Financial
Weakest financial yearnet -€37,757
Net result drops to -€37,757, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500,000Eq €882,211 ▲110%
Equity rises from €419,968 to €882,211.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
Show earlier events
2020
31-12
Financial
Back to profitnet €185,182
Net result €185,182 after 2 loss-making years.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 19 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
06-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 6 days late
2017
21-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 21 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Support & recognitions
1 funding sourceFlanders €7401 register with a recognition
Flemish government
€740
awarded · 2022
Subsidies and aid
Flemish government
2022 · 2 entries · €740 awarded · €740 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | €740 | €740 |
Recognitions · licences · registrations
Dual-learning approval
1 endedWinkelbediende (so)
Company details
Private limited company · founded 28-12-1992Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded28-12-1992
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0449015671
Also
9925:BE0449015671
Registered
28-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Erpe-Mere · 1 establishment unit since 1993
Ground area
1,502 m²
Building footprint
295 m²
Volume, LiDAR
2,253 m³
Parcel 41009B0399/00R002, Flanders · tallest building 12.9 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Brick Retail
since 1993unit no. 2.060.615.738
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41009B0399/00R002 | Flanders | 1,502 m² | 1 · 295 m² | 12.9 m · 2 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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies Which other companies belong to the same group?VL RETAIL · 12 companies
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