BRS

Active Non-profit associationfounded 1991active for 34 yearsMuntstraat 1, 3000 LeuvenKBO/BCE: BE 0446.437.154

BRS

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Overview

Lifetime

18 annual accounts with figures on one time axis, 20 filings since 2006

Compare with

peak €376,698 (2022)

-€105,869▲ €17,987

lowest -€295,957 (2010)

-€84,837▼ €105

peak €2.6m (2022)

€2.4m▼ 3.4%

€16,295▼ 27.6%

Board29 names since 2019all names

16 directorsAnnemie VERHAEVERT and 15 others

Documentsfilings and deeds

26-05-202666 days before the deadline

2025abbreviated format

Gross margin from -€123,856 to -€105,869Loss of €84,8371 director appointed, 4 reappointments 03-10Debts from €22,506 to €16,295Cash from €353,639 to €128,001

Key points

from the 2025 annual accounts

Deficits

-€244,130 in three years

Every financial year from 2023 to 2025 closed with a deficit. 2025 was the heaviest.

Filings

20 annual accounts since 2006

The last five annual accounts were filed 56 to 71 days before the end of the period.

Board

1 joined · 2 left

Board changed. Latest change 30-10-2026 · 14 in office.

Turnover not published (abbreviated format)

Checked score

Excellent

Financially stronger than 41% of small companies in membership organisations (NACE 94)

Probability in this band: under 0.55%

Bankruptcy probability within 12 months < 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: < 0.1% across 513 companies (NACE 94, small).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025highest value 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026lowest value 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026 09-2026: < 0.1%● unchanged vs 08-2026 10-2026: < 0.1%● unchanged vs 09-2026 11-2026: < 0.1%● unchanged vs 10-2026

Financial strength

Strong

100=equity 99.3% of total assets

57-11short-term debt 0.7% · cash 5.3%

29=return on assets -3.5%

Score breakdown

raises risk

Loss of €84,837, the second in a row (financial year 2025)

lowers risk

Legal form: non-profit association

Size: total assets €2.4m

Sector: Activities of membership organisations (NACE 94)

Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 94, small). It does better than 85% of them on solvency, 25% on liquidity, 29% on profitability and 25% on growth.

The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 8,617 companies had the same profile as BRS has now. Each dot stands for 22 companies, two years later.

94.2%

were still trading

5.2%

stopped another way

0.4%

went bankrupt

Small
20 years or older
solvency 30% or more
a small loss

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of BRS itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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%	0.9%
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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 8,617 companies, not a prediction for BRS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €220,000 on 30-day terms is acceptable

Short-term debt is 0.7% and cash 5.3% of total assets. 0.7% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Six signals.

lowers riskraises riskneutral

Legal form: non-profit association

KBO

Size: total assets €2.4m

Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.

NBB · annual accounts

Sector: Activities of membership organisations (NACE 94)

KBO

Loss of €84,837, the second in a row (financial year 2025)

NBB · annual accounts

Persistent losses

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

NBB · annual accounts 2025

Net result per financial year

1819202122232425

2018 to 2025 · latest year -€84,837

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.

NBB · 10 filings

Deviation from the deadline

2025

66 days early

2024

71 days early

2023

56 days early

2022

62 days early

2021

67 days early

2020

65 days early

2019

63 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 64 days before the deadline. In the sector (NACE 94), the median for financial year 2024 was 29 days before the deadline, and 25% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 May (5 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

07-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Board and ownership

Managing director

Director

Director

Director

Director

BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs d'Entreprises BV

Auditor, Peter BOGAERT

and 9 others Board & ownership

Recent changes

30-10-2026

1 director appointed, 1 resignation, 3 reappointments, 1 statutory auditor reappointed Resignation: Marc DAEMS · Appointment: Anja DE KIMPE · Reappointments: Geert DEBEERST, Filip FERRANTE, Bart VERBEEK and BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs d'entreprises BV (statutory auditor) · General meeting of 19-05-2026 · Gazette deed

22-05-2026

New managing director Anja De Kimpe appointed, Stephan Olaerts resigned · Board meeting of 17-11-2025 · Gazette deed

03-10-2025

1 director appointed, 4 reappointments Appointment: Annemie VERHAEVERT · Reappointments: Bruno MENU, Katia ANDRIES, Valérie LEMASSON and Philip MARCK · General meeting of 20-05-2025 · Gazette deed

10-03-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0446437154

All 39 events

Comparable companies

same main activity, the nearest in size

Company
BRS Leuven	-	-	99.3%	-
Rikolto België Leuven	-	-	72.2%	24.6
HUMUNDI Brussels	-	-	42.9%	23.9
LOUVAIN COOPERATION Ottignies-Louvain-la-Neuve	-	-	38.0%	20.9
Centre national de Coopération au Développement - COMMUNAUTE FRANCAISE ET GERMANOPHONE Brussels	€826,601	21.4%	25.3%	59.2
TRIAS Saint-Josse-ten-Noode	€79,161	-8.3%	17.2%	29.6
HANDICAP INTERNATIONAL Ixelles	-	-	9.5%	18.6

These companies have the same main activity as BRS: activities of membership organisations (NACE 94995). They are larger than BRS: total assets between €4.8m and €11m, founded between 1980 and 1986.

Official details

Source: KBO

Status: Active since 19-12-1991Normal situation
Activity: Activities of membership organisationsNACE 94995and 1 other
Financial year end: 31 December
Peppol: Reachable since 10-03-2025

Company details

Annual accounts 2025

: -€105,869▲ 14.5%
: €84,837▲ 0.1%
: €2.4m▼ 3.4%
: €2.4m▼ 3.6%
Filing: Filed on 26-05-2026, 66 days before the end of the filing period

Financials

Insights on BRS

BRS files the abbreviated format. That format states no turnover. The gross margin fell from €83,815 in 2008 to -€105,869 in 2025.

In October 2024, six directors stepped down. In May 2026, the Official Gazette published the appointment of Anja De Kimpe as managing director.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 26-05-2026, 66 days before the deadline

-€105,869

▲ €17,987

-€115,199

▲ €18,872

-€84,837

▼ €105

€2.1m

▼ 3.9%

99.3%

▲ 0.2 percentage points

Turnover and EBIT margin are not published. The abbreviated format does not require them.

Balance sheet

balance sheet total €2.4m on 31-12-2025

What the company ownsHow it is paid for

in €m

in euro

Position in the sector

Compare with sector

99.3%

Higher than 95% of 320 companies in 2025.

-

Higher than 95% of 435 companies in 2024.

-3.5%

Higher than 17% of 322 companies in 2025.

BRS Middle half of the sector 80% of the sector Abbreviated accounts in membership organisations (NACE 94)

Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Balance sheet: assets
`20/58`	2.4m	2.5m	2.6m	2.7m	2.4m	2.1m	2.0m	2.0m	2.0m	1.9m	1.9m	1.8m	1.8m	1.9m	2.0m	2.2m	2.5m	2.6m
`21/28`	323,104	323,104	323,104	323,104	323,104	323,452	323,452	323,452	323,452	323,452	323,452	323,452	323,452	323,452	179,208	179,208	179,208	179,208
`28`	323,104	323,104	323,104	323,104	323,104	323,452	323,452	323,452	323,452	323,452	323,452	323,452	323,452	323,452	179,208	179,208	179,208	179,208
`29/58`	2.1m	2.2m	2.3m	2.4m	2.0m	1.8m	1.7m	1.7m	1.7m	1.6m	1.6m	1.5m	1.5m	1.6m	1.8m	2.0m	2.3m	2.4m
`29`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,385	15,385
`291`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,385	15,385
`40/41`	1,197	10	9,331	-	-	100	24,258	39,036	18,161	15,176	3,957	1,108	1,029	103,786	20,633	17,597	881	1,760
`40`	-	-	9,331	-	-	-	24,230	38,736	16,405	13,476	-	500	-	3,143	4,500	390	711	1,760
`41`	1,197	10	-	-	-	100	28	300	1,756	1,701	3,957	608	1,029	100,643	16,133	17,207	170	-
`50/53`	2.0m	1.8m	2.1m	-	-	-	-	-	1.2m	1.5m	1.5m	1.4m	1.2m	1.4m	1.5m	1.4m	2.0m	2.2m
`54/58`	128,001	353,639	228,819	2.4m	2.0m	1.8m	1.7m	1.6m	403,859	63,896	87,228	91,391	239,757	57,112	311,267	574,909	288,461	210,830
`490/1`	11,879	28,476	17,151	3,266	-	-	3,319	2,765	7,207	31,046	6,227	1,046	3,765	990	-	-	-	-
Balance sheet: equity and liabilities
`10/49`	2.4m	2.5m	2.6m	2.7m	2.4m	2.1m	2.0m	2.0m	2.0m	1.9m	1.9m	1.8m	1.8m	1.9m	2.0m	2.2m	2.5m	2.6m
`10/15`	2.4m	2.5m	2.6m	2.6m	2.3m	2.0m	2.0m	1.9m	1.9m	1.9m	1.8m	1.7m	1.6m	1.6m	1.7m	1.9m	2.2m	2.1m
`10`	700,000	700,000	700,000	700,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`13`	500,000	500,000	500,000	500,000	500,000	-	-	-	-	-	-	-	-	-	-	-	-	-
`14`	1.2m	1.3m	1.4m	1.4m	1.1m	839,072	751,595	725,257	737,582	684,440	644,615	519,047	441,744	420,189	499,146	673,898	969,855	912,675
`17/49`	16,295	22,506	60,950	84,180	82,212	78,820	51,600	51,487	42,665	51,968	79,087	104,420	131,932	262,939	319,751	290,256	340,467	456,952
`42/48`	16,295	22,506	60,950	84,180	82,212	78,820	51,600	51,487	42,665	51,968	79,087	104,420	131,932	262,939	319,751	290,256	340,467	456,952
`44`	4,928	11,144	11,200	49,874	81,328	78,820	50,286	47,001	29,393	37,573	77,846	64,292	115,943	201,850	163,125	172,655	176,097	309,210
`440/4`	4,928	11,144	11,200	49,874	81,328	78,820	50,286	47,001	29,393	37,573	77,846	64,292	115,943	201,850	163,125	172,655	176,097	309,210
`45`	5,519	7,223	5,873	-	561	-	-	-	-	-	-	-	-	-	-	-	-	-
`450/3`	5,519	7,223	5,873	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`454/9`	-	-	-	-	561	-	-	-	-	-	-	-	-	-	-	-	-	-
`47/48`	5,849	4,140	43,877	34,307	323	-	-	-	-	-	-	-	-	-	-	-	-	-
Income statement
`76A`	-	-	-	-	-	-	-	-	-	-	-	-	-	113,491	-	-	-	-
`9900`	-105,869	-123,856	-102,746	376,698	234,713	91,175	27,942	-34,236	31,350	40,668	123,642	77,453	4,110	-230,616	-190,078	-384,011	-23,959	83,815
`640/8`	9,329	10,214	4,192	4,202	3,746	3,330	3,181	3,370	3,486	3,009	3,229	2,317	2,242	3,028	2,516	3,521	3,509	3,277
`9901`	-115,199	-134,070	-106,938	372,496	230,966	87,845	24,761	-37,605	27,865	37,659	120,413	75,136	1,868	-233,644	-192,595	-387,532	-27,468	80,538
`75/76B`	30,963	50,417	33,661	69	27	89	1,955	25,610	25,682	2,466	5,283	2,290	20,000	41,817	19,156	93,752	87,390	51,750
`75`	30,963	50,417	33,661	69	27	89	1,955	25,610	25,682	2,466	5,283	2,290	20,000	41,817	19,156	93,752	87,390	51,750
`65/66B`	601	1,078	1,285	341	273	457	378	329	405	300	128	123	312	621	1,314	2,177	2,743	3,728
`65`	601	1,078	1,285	341	273	457	378	329	405	300	128	123	312	621	1,314	2,177	2,743	3,728
`9903`	-84,837	-84,732	-74,561	372,224	230,720	87,476	26,338	-12,325	53,142	39,825	125,568	77,303	21,556	-192,448	-174,752	-295,957	57,179	128,560
`9904`	-84,837	-84,732	-74,561	372,224	230,720	87,476	26,338	-12,325	53,142	39,825	125,568	77,303	21,556	-78,957	-174,752	-295,957	57,179	128,560
`9905`	-84,837	-84,732	-74,561	372,224	230,720	87,476	26,338	-12,325	53,142	39,825	125,568	77,303	21,556	-	-	-	-	-
Appropriation of the result
`9906`	1.2m	1.3m	1.4m	1.4m	1.1m	839,072	751,595	725,257	737,582	684,440	644,615	519,047	441,744	-	-	-	-	-
`14P`	1.3m	1.4m	1.4m	1.1m	839,072	-	-	-	-	-	-	-	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 2 older financial years (2006-2007) were filed as documents without figures as data, scans for example.

The notes to these accounts have 2 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 26-05-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	26-05-2026	2026-00124765	PDF
31-12-2024	abbreviated format	21-05-2025	2025-00103311	PDF
31-12-2023	abbreviated format	05-06-2024	2024-00113228	PDF
31-12-2022	abbreviated format	30-05-2023	2023-00104385	PDF
31-12-2021	abbreviated format	25-05-2022	2022-20037564	PDF
31-12-2020	abbreviated format	27-05-2021	2021-15400373	PDF
31-12-2019	abbreviated format	29-05-2020	2020-14100530	PDF
31-12-2018	abbreviated format	03-06-2019	2019-15900087	PDF
31-12-2017	abbreviated format	12-06-2018	2018-17800578	PDF
31-12-2016	abbreviated format	09-06-2017	2017-16500080	PDF
31-12-2015	abbreviated format	27-05-2016	2016-14100520	PDF
31-12-2014	abbreviated format	23-06-2015	2015-21400574	PDF
31-12-2013	abbreviated format	27-05-2014	2014-14200405	PDF
31-12-2012	abbreviated format	30-05-2013	2013-14300227	PDF
31-12-2011	abbreviated format	12-06-2012	2012-16600340	PDF
31-12-2010	abbreviated format	27-05-2011	2011-12900134	PDF
31-12-2009	abbreviated format	03-06-2010	2010-15100222	PDF
31-12-2008	abbreviated format	05-06-2009	2009-20200093	PDF
31-12-2007	abbreviated format	12-06-2008	2008-20700250	PDF
31-12-2006	abbreviated format	11-06-2007	2007-19700164	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
-	-	-	-	-	-	-	-	-	-	-	-	-	318,000	-	-	-	117,750
-225,638	124,820	-2.2m	370,926	234,559	142,174	40,674	1.2m	339,963	-23,333	-4,163	-148,366	182,644	-254,155	-263,642	286,448	77,631	-
2.1m	2.2m	2.2m	2.3m	1.9m	1.7m	1.6m	1.6m	1.6m	1.6m	1.5m	1.4m	1.3m	1.3m	1.5m	1.7m	2.0m	1.9m
99.3%	99.1%	97.7%	96.9%	96.5%	96.3%	97.4%	97.4%	97.8%	97.3%	95.9%	94.3%	92.6%	86.0%	84.2%	86.6%	86.4%	82.2%
-	96.96	37.82	28.55	24.68	22.77	32.55	32.11	38.83	31.04	20.23	14.37	10.99	5.93	5.75	6.84	6.85	5.23
0.01	0.01	0.02	0.03	0.04	0.04	0.03	0.03	0.02	0.03	0.04	0.06	0.08	0.16	0.19	0.15	0.16	0.22
-3.5%	-3.4%	-2.9%	14.1%	10.2%	4.3%	1.3%	-0.6%	2.7%	2.1%	6.8%	4.5%	1.3%	-4.9%	-10.3%	-15.8%	2.6%	6.1%
-3.5%	-3.4%	-2.8%	13.7%	9.8%	4.1%	1.3%	-0.6%	2.7%	2.1%	6.5%	4.2%	1.2%	-4.2%	-8.7%	-13.7%	2.3%	5.0%

A ratio outside any meaningful range has been withheld (balance sheet total €2.4m, equity €2.4m).

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Insights on BRS

The operating result for 2025 is a loss of €115,199, smaller than the loss of €134,070 in 2024.

Debt's share of the balance-sheet total falls from 0.9% to 0.7%. Equity and debt are lower.

Board & ownership

Board

14 directors, 1 in day-to-day management, 1 auditor, last change in October 2026

Bart Verbeek

Director

appointed by deed of 07-10-2020 3-year term from 2026

also on the board of 1 other company

Filip Ferrante

Director

appointed by deed of 07-10-2020 3-year term from 2026

Geert Debeerst

Director

appointed by deed of 07-10-2020 3-year term from 2026

also on the board of 1 other company

Bruno MENU

Director

appointed by deed of 01-04-2022 3-year term from 2025

Katia ANDRIES

Director

appointed by deed of 10-06-2022 3-year term from 2025

Philip MARCK

Director

appointed by deed of 12-07-2022 3-year term from 2025

Valérie LEMASSON

Director

appointed by deed of 12-07-2022 3-year term from 2025

Frederik Vandepitte

Director

appointed by deed of 12-04-2024

also on the board of 2 other companies

Bart VAN AKEN

Director

appointed by deed of 04-10-2024

Johan TYTECA

Director

appointed by deed of 04-10-2024

Lieven KEPPENS

Director

appointed by deed of 04-10-2024

Sophie CEYSSENS

Director

appointed by deed of 04-10-2024

also on the board of 1 other company

Show all 15 office holders

Annemie VERHAEVERT

Director

appointed by deed of 03-10-2025 3-year term from 2025

Anja De Kimpe

Director and managing director

director appointed by deed of 30-10-2026 managing director appointed by deed of 22-05-2026

also on the board of 1 other company

BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs d'Entreprises BV

Statutory auditor, permanent representative Peter BOGAERT

appointed by deed of 17-07-2023 3-year term from 2026

: Anja De Kimpe
Signing authority: Two directors jointly
deed of 01-09-2021

Office holders in the KBO →

Mandates through the years

29 names, the dashed line is today

All 29 In office 15 Ended 14

Annemie VERHAEVERT
Director

Bart Verbeek
Director

Filip Ferrante
Director

Geert Debeerst
Director

Bruno MENU
Director

Katia ANDRIES
Director

Philip MARCK
Director

Valérie LEMASSON
Director

Frederik Vandepitte
Director

Bart VAN AKEN
Director

Johan TYTECA
Director

Lieven KEPPENS
Director

Sophie CEYSSENS
Director

Anja De Kimpe
Director, Managing director

BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs d'Entreprises BV
Statutory auditor

Marc Daems
Director

Stephan Olaerts
Director

Dries WINTERS
Director

Frederik Goegebeur
Director

Guido Poffé
Director

Lieven Boone
Director

Philippe Matthijs
Director

Victor VAN DE MOORTEL
Director

Franky Depickere
Director

Peter BOGAERT burg BVBA
Statutory auditor

Lutgarde Vettenburg
Director

Jean Masscheleyn
Director

Koen Van der Steerı
Director

Vic Van de Moortel
Director

LeadershipBoardEarlierRest of the termmandate already running before its first mentionend not dated

Mandates as a list

Annemie VERHAEVERT
- Director, from 27-05-2019 to 12-07-2022
- Director, appointed by deed of 03-10-2025, still in office
Bart Verbeek
- Director, appointed by deed of 07-10-2020, still in office
Filip Ferrante
- Director, appointed by deed of 07-10-2020, still in office
Geert Debeerst
- Director, from 28-05-2020 to date
Bruno MENU
- Director, appointed by deed of 01-04-2022, still in office
Katia ANDRIES
- Director, appointed by deed of 10-06-2022, still in office
Philip MARCK
- Director, appointed by deed of 12-07-2022, still in office
Valérie LEMASSON
- Director, appointed by deed of 12-07-2022, still in office
Frederik Vandepitte
- Director, appointed by deed of 12-04-2024, still in office
Bart VAN AKEN
- Director, appointed by deed of 04-10-2024, still in office
Johan TYTECA
- Director, appointed by deed of 04-10-2024, still in office
Lieven KEPPENS
- Director, appointed by deed of 04-10-2024, still in office
Sophie CEYSSENS
- Director, appointed by deed of 04-10-2024, still in office
Anja De Kimpe
- Director, appointed by deed of 22-05-2026, still in office
- Managing director, appointed by deed of 22-05-2026, still in office
BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs d'Entreprises BV
- Statutory auditor, from 28-05-2020 to date
Marc Daems
- Director, from 28-05-2020 to 30-10-2026
Stephan Olaerts
- Director, from 28-05-2020 to 22-05-2026
Dries WINTERS
- Director, appointed by deed of 30-06-2021, until 04-10-2024
Frederik Goegebeur
- Director, from 28-05-2020 to 04-10-2024
Guido Poffé
- Director, from before 25-05-2021 to 04-10-2024
Lieven Boone
- Director, from before 25-05-2021 to 04-10-2024
Philippe Matthijs
- Director, from before 25-05-2021 to 04-10-2024
Victor VAN DE MOORTEL
- Director, from before 17-07-2023 to 04-10-2024
Franky Depickere
- Director, from 27-05-2019 to 31-01-2024
Peter BOGAERT burg BVBA
- Statutory auditor, appointed by deed of 07-10-2020, until 17-07-2023
Lutgarde Vettenburg
- Director, from before 07-10-2020 to 15-03-2022
Jean Masscheleyn
- Director, from 27-05-2019 to 23-11-2021
Koen Van der Steerı
- Director, until 25-05-2021
Vic Van de Moortel
- Director, from 28-05-2020, last mentioned in 2020

See the board, name and registered office on a given date →

Control

This non-profit association has no shareholders or capital.

Capital

Capital: €700,000
Source: 2025 annual accounts

Articles of association

Duration: Unlimited
deed of 01-09-2021 (in Dutch)
Board rule: At least 3 directors
deed of 04-10-2024 (in Dutch)
Dissolution rule: “Bestuursorgaan of minimum één vijfde van de leden, artikel 16,6°”
deed of 01-09-2021 (in Dutch)

Network & group

Holdings

own 2015 accounts, the bar shows equity in euros

This companyBRS1 holding, 1 country 2015 accounts

Belgium 1 Equity Result

BE BRS Microfinance Coop43.68%no longer active €21.4m result €168,687

Source: list of holdings in its own 2015 accounts. Every holding stands with its own latest accounts.

At the same address

Muntstraat 1, 3000 Leuven · 7 other companies

KBC ANCORA registered office since 22-12-1998 · founded in 1998	total assets €3.69bn (2026) 0464.965.639
Cera registered office since 01-09-2001 · founded in 1935	total assets €3.29bn (2025) 0403.581.960
CERA BEHEERSMAATSCHAPPIJ - CERA SOCIETE DE GESTION registered office since 17-06-1998 · founded in 1998	total assets €25.8m (2025) 0463.489.061
BRS MICROFINANCE COOP registered office since 08-01-2013 · founded in 2013	total assets €21.4m (2026) 0508.996.711
ALMANCORA BEHEERSMAATSCHAPPIJ registered office since 12-01-2001 · founded in 2001	total assets €76,944 (2025) 0473.812.039
ALMANCORA registered office since 01-02-2001	founded in 2001 0474.256.952
Cera Ancora registered office since 27-03-1998	founded in 1998 0463.314.263

Earlier ties

KBC Bank via Guido Poffé, at BRS until 2024 · Director general · deed of 27-05-2013 founded in 1998 · group KBC Groep	total assets €236.27bn (2025)
CBC Banque via Guido Poffé, at BRS until 2024 · Director · deed of 02-06-2010 founded in 1958 · group KBC Groep	total assets €19.48bn (2025)
MAATSCHAPPIJ VOOR ROEREND BEZIT VAN DE BOERENBOND via Guido Poffé, at BRS until 2024 · Director · deed of 18-08-2026 founded in 1895	total assets €4.19bn (2025)
KBC ASSET MANAGEMENT via Frederik Vandepitte, no longer at KBC ASSET MANAGEMENT · Director · deed of 22-05-2025 founded in 2000	total assets €390.1m (2022)
ISABEL via Bart Verbeek, no longer at ISABEL · Director · deed of 20-06-2013 founded in 1995	152 FTE (2025)
Regionaal Ziekenhuis Heilig Hart Tienen via Guido Poffé, at BRS until 2024 · Director · deed of 16-03-2021 founded in 1971	710 FTE (2025)

Show 17 more earlier ties

Agri Investment Fund via Guido Poffé, at BRS until 2024 · Director · deed of 18-08-2026 founded in 2007 · group MAATSCHAPPIJ VOOR ROEREND BEZIT VAN DE BOERENBOND	total assets €75.4m (2025)
24+ via Stephan Olaerts, at BRS until 2026 · Director · deed of 18-08-2023 founded in 2008	491 FTE (2025)
LIMBURG DIEPENBEEK CAMPUS via Filip Ferrante, no longer at LIMBURG DIEPENBEEK CAMPUS · Director · deed of 06-09-2011 founded in 1989	total assets €36.4m (2025)
CERA BEHEERSMAATSCHAPPIJ - CERA SOCIETE DE GESTION via Frederik Vandepitte, no longer at CERA BEHEERSMAATSCHAPPIJ - CERA SOCIETE DE GESTION · A bestuurder en lid van het comité van het dagelijks bestuur · deed of 18-01-2024 founded in 1998	total assets €25.8m (2025)
VOKA - Kamer van Koophandel Vlaams-Brabant via Filip Ferrante, no longer at VOKA - Kamer van Koophandel Vlaams-Brabant · Director · deed of 28-01-2020 founded in 1934	48 FTE (2025)
Stuk Kunstencentrum via Frederik Vandepitte, no longer at Stuk Kunstencentrum · Director · deed of 03-01-2019 founded in 1972	33 FTE (2025)
Business Brewery via MATTHIJS Philippe, no longer at Business Brewery · Director founded in 1985	total assets €1.7m (2025)
INNOVATIE- EN INCUBATIECENTRUM K.U. LEUVEN via Filip Ferrante, no longer at INNOVATIE- EN INCUBATIECENTRUM K.U. LEUVEN · Director · deed of 24-11-2015 founded in 1988	1.9 FTE (2025)
Section Belge du Centre International de Recherches et d'Informations Sur l'Economie publique, sociale et coopérative via Stephan Olaerts, at BRS until 2026 · Director · deed of 24-12-2020 founded in 1952	7 FTE (2025)
BOONE CONSULTANCY AND TRADING via Lieven Boone, at BRS until 2024 · Director (not named in the articles) · deed of 16-02-2022 founded in 2000	total assets €581,675 (2026)
ALMANCORA BEHEERSMAATSCHAPPIJ via Frederik Vandepitte, no longer at ALMANCORA BEHEERSMAATSCHAPPIJ · Class A director · deed of 05-01-2024 founded in 2001	total assets €76,944 (2025)
ALMANCORA via Frederik Vandepitte, no longer at ALMANCORA · A bestuurder en lid van het comité van het dagelijks bestuur · deed of 08-01-2024	founded in 2001
Brabanthal via MATTHIJS Philippe, no longer at Brabanthal · Director · deed of 30-09-2019	founded in 1995
Cera Ancora via Frederik Vandepitte, no longer at Cera Ancora · A bestuurder en lid van het comité van het dagelijks bestuur · deed of 08-01-2024	founded in 1998
Jacob-Ferdinand Mellaerts via Guido Poffé, at BRS until 2024 · Director · deed of 01-09-2026	founded in 2022
BRS MICROFINANCE COOP via Bart Verbeek (no longer at BRS MICROFINANCE COOP), Frederik Vandepitte (no longer at BRS MICROFINANCE COOP) and 2 others · Director · deeds of 01-10-2025 and 17-07-2024 No longer active · founded in 2013	total assets €21.4m (2026)
Vereniging der Grauwzusters van Tienen via Guido Poffé, at BRS until 2024 · Permanent representative · deed of 14-04-2015 No longer active

Holdings through the years

2012 to 2015

Holdings through the years
Name	2012	2013	2014	2015
BRS MICROFINANCE COOP 2012 to 2015: 43.68%	43.68%

Source: list of holdings in its own accounts

Connections & network

8 connected companies

Depth

Shared directors

This company Company Director Shareholding +N: links not shown yet

Linked via shared directors

M5S

via Sophie CEYSSENS · Director (not named in the articles) · deed of 25-06-2021

Founded in 2021 · total assets €22,008 (2025) · negative equity

→

Cera

via Frederik Vandepitte · Lid van het comité van dagelijks bestuur van cera cv · deed of 05-01-2024

Founded in 1935 · total assets €3.29bn (2025)

→

Omnia Travel

via Bart Verbeek · Director · deed of 21-08-2026

Founded in 1973 · 99 FTE (2025) · group KBC Groep

→

11.11.11, Koepel van Internationale Solidariteit

via MATTHIJS Philippe · Director · deed of 21-05-2024

Founded in 1980 · 64 FTE (2025)

→

Show 4 more companies with a shared director

TRIAS

via MATTHIJS Philippe · Director · deed of 17-02-2023

Founded in 1985 · 30 FTE (2025)

→

Internationale Vereniging voor Zeilwagensport

via Geert Debeerst · Treasurer · deed of 09-05-2023

Founded in 2007

→

KBC & Cera Foundation

via Anja De Kimpe · Class B director · deed of 31-12-2025

Founded in 2025

→

KBC ASSURANCES

via Frederik Vandepitte · Director · deed of 09-07-2026

Founded in 1922 · group KBC Groep

→

Timeline

39 events since 1991

Board

Filings

Financial

Other

1995200020052010201520202025

Deadline for the 2026 accounts: 31-07-2027

2026

30-10-2026

1 director appointed, 1 resignation, 3 reappointments, 1 statutory auditor reappointedResignation: Marc DAEMS · Appointment: Anja DE KIMPE · Reappointments: Geert DEBEERST, Filip FERRANTE, Bart VERBEEK and BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs d'entreprises BV (statutory auditor) · General meeting of 19-05-20267 points ▸

General meeting, 19-05-2026
Director resignation, Marc DAEMS
Director appointment, Anja DE KIMPE
Director reappointment, Geert DEBEERST
Director reappointment, Filip FERRANTE
Director reappointment, Bart VERBEEK
Auditor reappointment, BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs d'entreprises BV (statutory auditor)

Open the deed in the Belgian Official Gazette

26-05-2026

Annual accounts 2025 filed PDFabbreviated format · 66 days before the deadline

22-05-2026

New managing directorAnja De Kimpe appointed, Stephan Olaerts resigned · Board meeting of 17-11-20254 points ▸

Board meeting, 17-11-2025
Director resignation, Stephan Olaerts
Director appointment, Anja De Kimpe
Director appointment, Anja De Kimpe (managing director)

Open the deed in the Belgian Official Gazette

2025

03-10-2025

1 director appointed, 4 reappointmentsAppointment: Annemie VERHAEVERT · Reappointments: Bruno MENU, Katia ANDRIES, Valérie LEMASSON and Philip MARCK · General meeting of 20-05-20256 points ▸

General meeting, 20-05-2025
Director appointment, Annemie VERHAEVERT
Director reappointment, Bruno MENU
Director reappointment, Katia ANDRIES
Director reappointment, Valérie LEMASSON
Director reappointment, Philip MARCK

Open the deed in the Belgian Official Gazette

21-05-2025

Annual accounts 2024 filed PDFabbreviated format · 71 days before the deadline

10-03-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0446437154

2024

31-12-2024

Liquidity more than doubled current ratio 96.96 The current ratio rises from 37.82 to 96.96. Short-term debt falls from €60,950 to €22,506.

04-10-2024

5 directors appointed, 6 resignationsAppointments: Frederik VANDEPITTE, Sophie CEYSSENS, Bart VAN AKEN, Johan TYTECA and Lieven KEPPENS · Resignations: Frederik GOEGEBEUR, Lieven BOONE, Guido POFFE, Philippe MATTHIJS, Victor VAN DE MOORTEL and Dries WINTERS · General meeting of 21-05-202412 points ▸

General meeting, 21-05-2024, mentioned twice in the deed
Director appointment, Frederik VANDEPITTE
Director appointment, Sophie CEYSSENS
Director appointment, Bart VAN AKEN
Director appointment, Johan TYTECA
Director appointment, Lieven KEPPENS
Director resignation, Frederik GOEGEBEUR
Director resignation, Lieven BOONE
Director resignation, Guido POFFE
Director resignation, Philippe MATTHIJS
Director resignation, Victor VAN DE MOORTEL
Director resignation, Dries WINTERS

Open the deed in the Belgian Official Gazette

05-06-2024

Annual accounts 2023 filed PDFabbreviated format · 56 days before the deadline

12-04-2024

Resignation: Franky Depickere (director)Appointment: Frederik Vandepitte (director) · Board meeting of 31-01-20243 points ▸

Board meeting, 31-01-2024
Director resignation, Franky Depickere
Director appointment, Frederik Vandepitte

Open the deed in the Belgian Official Gazette

2023

17-07-2023

7 directors reappointed, 1 statutory auditor reappointedGeert DEBEERST, Marc DAEMS, Filip FERRANTE, Bart VERBEEK, Frederik GOEGEBEUR, Stephan OLAERTS and 2 others · Permanent representative: Peter Bogaert · General meeting of 25-05-202310 points ▸

General meeting, 25-05-2023
Director reappointment, Geert DEBEERST
Director reappointment, Marc DAEMS
Director reappointment, Filip FERRANTE
Director reappointment, Bart VERBEEK
Director reappointment, Frederik GOEGEBEUR
Director reappointment, Stephan OLAERTS
Director reappointment, Victor VAN DE MOORTEL
Auditor reappointment, BOGAERT & BOSMANS Bedrijfsrevisoren bv (statutory auditor)
Permanent representative, Peter Bogaert
The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

30-05-2023

Annual accounts 2022 filed PDFabbreviated format · 62 days before the deadline

2022

31-12-2022

Highest result from 2008 to 2025 net €372,224 ▲61.3% The operating result of €372,496 and the net result of €372,224 are both a record.

12-07-2022

4 directors appointed, 1 resignation, 1 reappointmentResignation: Annemie Verhaevert · Appointments: Valérie Lemasson, Philip Marck, Katia Andries and Bruno Menu · Reappointment: Franky Depickere · General meeting of 24-05-20227 points ▸

General meeting, 24-05-2022
Director resignation, Annemie Verhaevert
Director appointment, Valérie Lemasson
Director appointment, Philip Marck
Director appointment, Katia Andries
Director appointment, Bruno Menu
Director reappointment, Franky Depickere

Open the deed in the Belgian Official Gazette

10-06-2022

Resignation: Lutgarde Vettenburg (director)Appointment: Katia Andries (director) · Board meeting of 15-03-20223 points ▸

Board meeting, 15-03-2022
Director resignation, Lutgarde Vettenburg
Director appointment, Katia Andries

Open the deed in the Belgian Official Gazette

25-05-2022

Annual accounts 2021 filed PDFabbreviated format · 67 days before the deadline

01-04-2022

Resignation: Jean Masscheleyn (director)Appointment: Bruno Menu (director) · Board meeting of 23-11-20213 points ▸

Board meeting, 23-11-2021
Director resignation, Jean Masscheleyn
Director appointment, Bruno Menu

Open the deed in the Belgian Official Gazette

2021

01-09-2021

Amendment of the articlesGeneral meeting of 25-05-20211 point ▸

General meeting, 25-05-2021

Open the deed in the Belgian Official Gazette

30-06-2021

1 director appointed, 1 resignation, 3 reappointmentsResignation: Koen Van der Steerı · Appointment: Dries Winters · Reappointments: Lieven Boone, Guido Poffé and Philippe Matthijs · General meeting of 25-05-20216 points ▸

General meeting, 25-05-2021
Director resignation, Koen Van der Steerı
Director appointment, Dries Winters
Director reappointment, Lieven Boone
Director reappointment, Guido Poffé
Director reappointment, Philippe Matthijs

Open the deed in the Belgian Official Gazette

27-05-2021

Annual accounts 2020 filed PDFabbreviated format · 65 days before the deadline

2020

07-10-2020

3 directors appointed, 5 reappointments, 1 statutory auditor reappointedAppointments: Geert Debeerst, Filip Ferrante and Bart Verbeek · Reappointments: Marc Daems, Frederik Goegebeur, Stephan Olaerts, Vic Van de Moortel, Lutgarde Vettenburg and Peter BOGAERT burg. bvba (statutory auditor) · Permanent representative: Peter Bogaert · General meeting of 28-05-202011 points ▸

General meeting, 28-05-2020
Director appointment, Geert Debeerst
Director appointment, Filip Ferrante
Director appointment, Bart Verbeek
Director reappointment, Marc Daems
Director reappointment, Frederik Goegebeur
Director reappointment, Stephan Olaerts
Director reappointment, Vic Van de Moortel
Director reappointment, Lutgarde Vettenburg
Permanent representative, Peter Bogaert
Auditor reappointment, Peter BOGAERT burg. bvba (statutory auditor)

Open the deed in the Belgian Official Gazette

29-05-2020

Annual accounts 2019 filed PDFabbreviated format · 63 days before the deadline

2019

31-12-2019

Back to profit net €26,338 The net result is €26,338, after one loss-making year.

03-06-2019

Annual accounts 2018 filed PDFabbreviated format · 58 days before the deadline

2018

12-06-2018

Annual accounts 2017 filed PDFabbreviated format · 49 days before the deadline

2017

09-06-2017

Annual accounts 2016 filed PDFabbreviated format · 52 days before the deadline

2016

27-05-2016

Annual accounts 2015 filed PDFabbreviated format · 65 days before the deadline

2015

23-06-2015

Annual accounts 2014 filed PDFabbreviated format · 38 days before the deadline

2014

27-05-2014

Annual accounts 2013 filed PDFabbreviated format · 65 days before the deadline

2013

31-12-2013

Back to profit net €21,556 The net result is €21,556, after 3 loss-making years.

30-05-2013

Annual accounts 2012 filed PDFabbreviated format · 62 days before the deadline

2012

12-06-2012

Annual accounts 2011 filed PDFabbreviated format · 49 days before the deadline

2011

27-05-2011

Annual accounts 2010 filed PDFabbreviated format · 65 days before the deadline

2010

31-12-2010

Weakest financial year net -€295,957 The net result drops to -€295,957, the lowest from 2008 to 2025. It recovers the following year.

03-06-2010

Annual accounts 2009 filed PDFabbreviated format · 58 days before the deadline

2009

05-06-2009

Annual accounts 2008 filed PDFabbreviated format · 56 days before the deadline

2008

12-06-2008

Annual accounts 2007 filed PDFabbreviated format · 49 days before the deadline

2007

11-06-2007

Annual accounts 2006 filed PDFabbreviated format · 50 days before the deadline

1991

19-12-1991

Incorporation KBO

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

On 19 December 1991, BRS was incorporated.¹ Total assets went from €2.0m in 2018 to €2.4m in 2025.²

Company details

Identity

Enterprise number: 0446.437.154
VAT number: BE 0446.437.154
Peppol ID: 0208:0446437154
Other Peppol ID: 9925:BE0446437154
Legal form: Non-profit association
Status: Active, normal situation
Founded: 19-12-1991
Financial year: ends on 31 December
Peppol: Reachable since 10-03-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name: BRS in Dutch
Entity type: Legal entity
Duration: Unlimited
deed of 01-09-2021 (in Dutch)
Registered office clause: “Muntstraat 1, 3000 Leuven”
deed of 01-09-2021 (in Dutch)

Activities

NACEBEL 2025

94995 Activities of membership organisations main activity

85592 Vocational training

Codes under NACEBEL 2008

94995 Activities of membership organisations main activity

85592 Vocational training

Purpose: “De vereniging heeft als voorwerp het bevorderen, aanmoedigen en verzekeren van ontwikkelingshulp volgens de coöperatieve beginselen in de…”
3 activities
De vereniging heeft als voorwerp het bevorderen, aanmoedigen en verzekeren van ontwikkelingshulp volgens de coöperatieve beginselen in de ontwikkelingslanden.
Dit voorwerp wordt in de eerste plaats nagestreefd door, alleen of met andere organisaties, in de ontwikkelingslanden coöperaties te stimuleren en op te richten, opleiding en informatie te verstrekken en de voor de realisatie van het voorwerp nodige fondsen te verzamelen.
Daarnaast kan zij alle activiteiten ontplooien die rechtstreeks of onrechtstreeks bijdragen tot de verwezenlijking van haar voorwerp, met inbegrip van commerciële en winstgevende activiteiten waarvan de opbrengsten te allen tijde uitsluitend zullen worden bestemd voor de verwezenlijking van haar voorwerp.
deed of 01-09-2021 (in Dutch)

Registered office and establishments

Muntstraat 1 registered office 3000 Leuven

Buildings and parcels at the address

Ground area: 1,663 m²
Buildings: 1,598 m²
Volume, LiDAR: 17,558 m³
Tallest building: 20.8 m

Buildings to scale, each on its own parcel

exact location from the address register On OpenStreetMap

8 companies at this address See who is registered here

Parcels

Cadastral parcel	Area	Buildings	Height / floors
24502B0852/00S000 ProtectedMonumentHotel d'EynattenSource ↗	1,663 m²	1 · 1,597 m²	20.8 m · 4

1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.

Overview

Lifetime

Key points

Deficits

Filings

Board

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Board and ownership

Recent changes

Comparable companies

Official details

Annual accounts 2025

Insights on BRS

Financials

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency99.3%

Current ratio-

Return on assets-3.5%

Filed annual accounts

Filings

Key figures and ratios

Insights on BRS

Board & ownership

Board

Mandates through the years

Control

Capital

Articles of association

Network & group

Holdings

Belgium 1 Equity Result

At the same address

Earlier ties

Holdings through the years

Connections & network

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the address

Location

Parcels

in €m

in euro

99.3%

-

-3.5%