BRS

Active

Non-profit association·Verenigingen op het vlak van ontwikkelingssamenwerking· 34 yrs active

Muntstraat 1 ·3000 Leuven, Belgium

Health 62/100 Healthy Risk: very low

KBO/BCE: BE 0446.437.154

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Age34 yrs

Board17

Real estate1 parcel · 1,663 m²

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of BRS is < 0.1% (very low). The 2025 annual accounts show equity of €2.40M and a net result of €-85k. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 86 sector peers (fiscal year 2025). The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 8 annual accounts.

Signals

2 signals · with evidence

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.

View the result trend

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 95% of 86 peers (2025). A comfortable equity buffer.

View the sector comparison

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-05-2026, 66 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	26-05-2026	66 d early	2026-00124765
31-12-2024	31-07-2025	21-05-2025	71 d early	2025-00103311
31-12-2023	31-07-2024	05-06-2024	56 d early	2024-00113228
31-12-2022	31-07-2023	30-05-2023	62 d early	2023-00104385
31-12-2021	31-07-2022	25-05-2022	67 d early	2022-20037564
31-12-2020	31-07-2021	27-05-2021	65 d early	2021-15400373
31-12-2019	31-07-2020	29-05-2020	63 d early	2020-14100530
31-12-2018	31-07-2019	03-06-2019	58 d early	2019-15900087
31-12-2017	31-07-2018	12-06-2018	49 d early	2018-17800578
31-12-2016	31-07-2017	09-06-2017	52 d early	2017-16500080

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 1991, 34 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

< 0.1% Very low

0%0,5%1,5%4%10%≥25%

Lower-risk legal form −Lower-failure-rate sector −Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€-85k-0.1%

Working capital€2.07M-3.9%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 26-05-2026 with the NBB · fiscal year 2025 · verkort

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~4.4%/year over 8 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 94 · compared across all schema types (micro, abbreviated and full combined)

Metric	This company	Sector median	Position in the sector
Solvency	99.3%	69.8%	better than 95% of 86 sector peers
Net result	€-85k	€23k	better than 10% of 85 sector peers
Equity	€2.40M	€266k	better than 85% of 86 sector peers
Gross operating margin	€-106k	€318k	better than 5% of 80 sector peers
Total assets	€2.41M	€680k	better than 75% of 88 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P95

Stable position over 2020-2025 · n=86-201

Net result P10

Weakening position over 2020-2025 · n=85-200

Equity P85

Stable position over 2020-2025 · n=86-201

Gross operating margin P5

Weakening position over 2020-2025 · n=80-196

Describes the position versus peers, not a forecast.

Net profit

€-85k

-0.1% 18-25

Total assets

€2.41M

-3.6% 18-25

Equity

€2.40M

-3.4% 18-25

Working capital

€2.07M

-3.9% 18-25

Debt

€16k

-27.6% 18-25

Debt ≤ 1y

€16k

-27.6% 18-25

Current ratio

128.32

+32.4% 18-25

Quick ratio

128.32

+32.4% 18-25

Solvency

99.3%

+0.2% 18-25

Debt / equity

0.01

-25.0% 18-25

ROE

-3.5%

-3.7% 18-25

ROA

-3.5%

-3.9% 18-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	verkort
Revenue	-
EBITDA	-
Net profit	€-85k
Cash flow	-
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€2.41M
Equity	€2.40M
Debt	€16k
of which ≤ 1y	€16k
of which > 1y	-
Working capital	€2.07M
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	128.32
Quick ratio	128.32
Working capital ratio	85.9%
Solvency	99.3%
Debt / equity	0.01
Long-term debt ratio	-
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-3.5%
ROE	-3.5%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €323k · 13.4% Current assets €2.09M · 86.6%

Equity & liabilities

Equity €2.40M · 99.3% Debt €16k · 0.7%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€2.41M
Fixed assets	21/28	€323k
Financial fixed assets	28	€323k
Current assets	29/58	€2.09M
Amounts receivable within one year	40/41	€1k
Investments	50/53	€1.95M
Cash & bank	54/58	€128k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€2.41M
Equity	10/15	€2.40M
Contributions / capital	10/11	€700k
Reserves	13	€500k
Accumulated profits (losses)	14	€1.20M
Amounts payable	17/49	€16k
Amounts payable within one year	42/48	€16k
Trade debts payable within one year	44	€5k
Income statement
Gross operating margin	9900	€-106k
Operating result	9901	€-115k
Financial income	75	€31k
Financial charges	65	€601
Result before taxes	9903	€-85k
Net result for the period	9904	€-85k
Result to be appropriated	9905	€-85k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

62 / 100 Healthy

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Directors

Directors & mandates

42 directors

Current directors & mandates

Annemie VERHAEVERT
Director
State Gazette act 25125690 (03-10-2025)

Current
03-10-2025 → present
4 events
- 03-10-2025 Appointed· Director
- 12-07-2022 Resigned· Director
- 30-09-2019 Appointed· Director
- 03-02-2017 Resigned· Raad van bestuur
Bart VAN AKEN
Director
State Gazette act 24143189 (04-10-2024)

Current
04-10-2024 → present
Johan TYTECA
Director
State Gazette act 24143189 (04-10-2024)

Current
04-10-2024 → present
Lieven KEPPENS
Director
State Gazette act 24143189 (04-10-2024)

Current
04-10-2024 → present
Sophie CEYSSENS
Director
State Gazette act 24143189 (04-10-2024)

Current
04-10-2024 → present
Frederik VANDEPITTE
Director
State Gazette act 24143189 (04-10-2024)

Current
12-04-2024 → present
2 events
- 04-10-2024 Appointed· Director
- 12-04-2024 Appointed· Director
Philip MARCK
Director
State Gazette act 25125690 (03-10-2025)

Current
12-07-2022 → present
2 events
- 03-10-2025 Appointed· Director
- 12-07-2022 Appointed· Director
Valérie LEMASSON
Director
State Gazette act 25125690 (03-10-2025)

Current
12-07-2022 → present
2 events
- 03-10-2025 Appointed· Director
- 12-07-2022 Appointed· Director
Katia ANDRIES
Director
State Gazette act 25125690 (03-10-2025)

Current
10-06-2022 → present
3 events
- 03-10-2025 Appointed· Director
- 12-07-2022 Appointed· Director
- 10-06-2022 Appointed· Director
Bruno MENU
Director
State Gazette act 25125690 (03-10-2025)

Current
01-04-2022 → present
3 events
- 03-10-2025 Appointed· Director
- 12-07-2022 Appointed· Director
- 01-04-2022 Appointed· Director
Bart VERBEEK
Director
State Gazette act 23092298 (17-07-2023)

Current
07-10-2020 → present
2 events
- 17-07-2023 Appointed· Director
- 07-10-2020 Appointed· Director
Filip FERRANTE
Director
State Gazette act 23092298 (17-07-2023)

Current
07-10-2020 → present
2 events
- 17-07-2023 Appointed· Director
- 07-10-2020 Appointed· Director
Geert DEBEERST
Director
State Gazette act 23092298 (17-07-2023)

Current
07-10-2020 → present
2 events
- 17-07-2023 Appointed· Director
- 07-10-2020 Appointed· Director
Marc DAEMS
Director
State Gazette act 23092298 (17-07-2023)

Current
21-06-2017 → present
3 events
- 17-07-2023 Appointed· Director
- 07-10-2020 Appointed· Director
- 21-06-2017 Appointed· Raad van bestuur

+ 3 not shown in this overview

Historic, not recently confirmed (3)

These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.

Koen Van der Steen
Raad van bestuur
State Gazette act 18162338 (07-11-2018)

Not recently confirmed
last confirmed in an act from 2018
2 events
- 07-11-2018 Appointed· Raad van bestuur
- 25-08-2015 Appointed· Raad van bestuur
Lut Vettenburg
Raad van bestuur
State Gazette act 17087470 (21-06-2017)

Not recently confirmed
last confirmed in an act from 2017
Franky Cyriel Depickere
Director
State Gazette act 07003156 (04-01-2007)

Not recently confirmed
last confirmed in an act from 2007
2 events
- 04-01-2007 Appointed· Director
- 04-01-2007 Appointed· Voorzitter raad van bestuur

Permanent representatives (1)

These people represent a legal-person director (a management company, for instance). They hold no board mandate of their own and do not count as directors.

Peter Bogaert
Vaste vertegenwoordiger commissaris
State Gazette act 23092298 (17-07-2023)

Permanent representative
17-07-2023 → present

Former directors (22)

Dries Winters
Director
State Gazette act 21078131 (30-06-2021)

Former
30-06-2021 → 04-10-2024
2 events
- 04-10-2024 Resigned· Director
- 30-06-2021 Appointed· Director
Frederik GOEGEBEUR
Director
State Gazette act 23092298 (17-07-2023)

Former
21-06-2017 → 04-10-2024
4 events
- 04-10-2024 Resigned· Director
- 17-07-2023 Appointed· Director
- 07-10-2020 Appointed· Director
- 21-06-2017 Appointed· Raad van bestuur
Guido POFFE
Director
State Gazette act 24143189 (04-10-2024)

Former
- → 04-10-2024
Lieven Boone
Director
State Gazette act 21078131 (30-06-2021)

Former
25-08-2015 → 04-10-2024
4 events
- 04-10-2024 Resigned· Director
- 30-06-2021 Appointed· Director
- 07-11-2018 Appointed· Raad van bestuur
- 25-08-2015 Appointed· Raad van bestuur
Philippe Matthijs
Director
State Gazette act 21078131 (30-06-2021)

Former
07-11-2018 → 04-10-2024
4 events
- 04-10-2024 Resigned· Director
- 30-06-2021 Appointed· Director
- 07-11-2018 Appointed· Raad van bestuur
- 03-02-2017 Resigned· Raad van bestuur
Victor VAN DE MOORTEL
Director
State Gazette act 23092298 (17-07-2023)

Former
17-07-2023 → 04-10-2024
2 events
- 04-10-2024 Resigned· Director
- 17-07-2023 Appointed· Director
Franky Depickere
Director
State Gazette act 22084071 (12-07-2022)

Former
30-09-2019 → 12-04-2024
4 events
- 12-04-2024 Resigned· Director
- 12-07-2022 Appointed· Director
- 30-09-2019 Appointed· Director
- 03-02-2017 Resigned· Raad van bestuur
Lutgarde Vettenburg
Director
State Gazette act 20116703 (07-10-2020)

Former
07-10-2020 → 10-06-2022
2 events
- 10-06-2022 Resigned· Director
- 07-10-2020 Appointed· Director
Jean Masscheleyn
Director
State Gazette act 19129767 (30-09-2019)

Former
30-09-2019 → 01-04-2022
3 events
- 01-04-2022 Resigned· Director
- 30-09-2019 Appointed· Director
- 03-02-2017 Resigned· Raad van bestuur
Koen Van der Steeri
Director
State Gazette act 21078131 (30-06-2021)

Former
- → 30-06-2021
Matthieu Vanhove
Director
State Gazette act 19129767 (30-09-2019)

Former
- → 30-09-2019
2 events
- 30-09-2019 Resigned· Director
- 03-02-2017 Resigned· Raad van bestuur
Frans Rymenams
Raad van bestuur
State Gazette act 15122389 (25-08-2015)

Former
25-08-2015 → 07-11-2018
2 events
- 07-11-2018 Resigned· Raad van bestuur
- 25-08-2015 Appointed· Raad van bestuur
Dirk Vyncke
Raad van bestuur
State Gazette act 17087470 (21-06-2017)

Former
- → 21-06-2017
Jacques De Raeymaeker
Raad van bestuur
State Gazette act 17087470 (21-06-2017)

Former
- → 21-06-2017

+ 8 not shown in this overview

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Statutory auditor

2 auditors

Statutory auditor	IRE/IBR number	Tenure
BOGAERT & BOSMANS Bedrijfsrevisoren bvCurrent Statutory auditor	-	17-07-2023 → present
Peter Bogaert Statutory auditor succeeded by BOGAERT & BOSMANS Bedrijfsrevisoren bv in 2023	-	03-06-2015 → 17-07-2023

Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Verenigingen op het vlak van ontwikkelingssamenwerking(94995)
Legal form	Non-profit association(017)
Incorporation	19-12-1991
Status	Active
Postal code	3000

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Muntstraat 13000 Leuven

Parcels1

Ground area1,663 m²

Buildings1

Building footprint1,598 m²

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24502B0852/00S000 ProtectedMonumentHotel d'EynattenSource ↗	Flanders	1,663 m²	1 · 1,597 m²	-

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

18 acts

All acts · 18 updated 10 months ago

2025

03-10-2025 5 directors appointed Director changes

Annemie VERHAEVERT, Bestuurder
Bruno MENU, Bestuurder
Katia ANDRIES, Bestuurder
Valérie LEMASSON, Bestuurder
Philip MARCK, Bestuurder

Summary: v3.2

Summary

Conclusion

Signals

Filing behaviour

Trust signals

Administrative Flags

Bankruptcy probability (12 mo)

Financials

Annual accounts & ratios

Health barometer

Directors

Directors & mandates

Statutory auditor

Insolvency mandates

Legal Structure

Locations & real estate

Registered office

Real-estate footprint

Publications

Lifecycle & Insolvency Signals

Belgisch Staatsblad · acts

Analysis

Snowflake analysis

Ask AI about this company

AI due-diligence brief

Credit advice

Similar

Similar companies

Company registry

Company registry (CBE)

Summary

Conclusion

Signals

Filing behaviour

Trust signals

Administrative Flags

Bankruptcy probability (12 mo)

Financials

Annual accounts & ratios

Health barometer

Directors

Directors & mandates

Statutory auditor

Insolvency mandates

Legal Structure

Locations & real estate

Registered office

Real-estate footprint

Publications

Lifecycle & Insolvency Signals

Belgisch Staatsblad · acts

Analysis

Snowflake analysis

Ask AI about this company

AI due-diligence brief

Credit advice

Similar

Similar companies

Company registry

Company registry (CBE)