CABALLUS
ActiveSummary
The annual accounts of CABALLUS for fiscal year 2024 show a net loss of 91% of the equity at the start of that year. The 2024 annual accounts show equity of €8,656 and a net result of -€84,081. Its solvency ranks better than 15% of 9742 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability36▲+17
Solvency25▼-75
Growth32
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
short-term debt: 0% and cash: 0% of total assets, and 99.9% of the assets are financed with debt.
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Signals
Six 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
0.1%
Return on assets
-0.6%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
2324
2023 to 2024 · latest year -€84,081
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 9742 sector peers (2024).
NBB · sector comparisonPosition among 9742 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-07-2025, 27 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
27 d early
2023
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 34 days before 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 (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#8 company by total assets in Tielt, Real estate sector
Equity
€8,656▼ 90.7%
2023 · €92,737
Total assets
€15.2m▲ 15,447%
2023 · €97,506
Net result
-€84,081▼ 1,058%
2023 · -€7,263
Working capital
€6.9m▲ 21,080%
2023 · €32,624
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
Line20232024
Operating result-€11,796--€179,603▼ 1,423%
Net result-€7,263within the sector's middle half--€84,081below the sector's middle half▼ 1,058%
Equity€92,737within the sector's middle half-€8,656below the sector's middle half▼ 90.7%
Total assets€97,506below the sector's middle half-€15.2mabove the sector's middle half▲ 15,447%
Debt€4,769-€15.2m▲ 317,599%
Working capital€32,624within the sector's middle half-€6.9mabove the sector's middle half▲ 21,080%
Solvency95.1%above the sector's middle half-0.1%below the sector's middle half▼ 95.1pp
Current ratio8.07above the sector's middle half-
Return on assets (ROA)-7.4%below the sector's middle half--0.6%within the sector's middle half▲ 6.9pp
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 stays negative: a loss of €179,603 in 2024 against €11,796 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €15.2m
Fixed assets
€8.2m ▲ 13,581%
Current assets
€6.9m ▲ 18,466%
Equity and liabilities €15.2m
Equity
€8,656 ▼ 90.7%
Debt
€15.2m ▲ 317,599%
Debt's share of the balance-sheet total rises from 4.9% to 99.9%. Equity is lower and debt is higher.
Key figures and ratios
Quick ratio
7.66▲
2023 · 0.27
ROE
-971.4%▼
2023 · -7.8%
Debt ≤ 1 year
€4,752▲
2023 · €4,618
Debt > 1 year
€15.0m
A ratio outside any meaningful range has been withheld (balance sheet total €15.2m, equity €8,656).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Other operating charges640/8 | €847 | €513 | ▼ 39.4% |
| Gross operating margin9900 | -€10,950 | -€179,089 | ▼ 1,536% |
| Operating profit (loss)9901 | -€11,796 | -€179,603 | ▼ 1,423% |
| Financial income75/76B | €5,035 | €111,848 | ▲ 2,121% |
| Recurring financial income75 | €5,035 | €111,848 | ▲ 2,121% |
| Financial charges65/66B | €502 | €16,327 | ▲ 3,154% |
| Recurring financial charges65 | €502 | €16,327 | ▲ 3,154% |
| Profit (loss) for the period before taxes9903 | -€7,263 | -€84,081 | ▼ 1,058% |
| Profit (loss) for the period9904 | -€7,263 | -€84,081 | ▼ 1,058% |
| Profit (loss) for the period to be appropriated9905 | -€7,263 | -€84,081 | ▼ 1,058% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €97,506 | €15.2m | ▲ 15,447% |
| Fixed assets21/28 | €60,264 | €8.2m | ▲ 13,581% |
| Financial fixed assets28 | €60,264 | €8.2m | ▲ 13,581% |
| Current assets29/58 | €37,242 | €6.9m | ▲ 18,466% |
| Stocks and contracts in progress3 | €35,997 | €6.9m | ▲ 19,007% |
| Stocks30/36 | €35,997 | €6.9m | ▲ 19,007% |
| Amounts receivable within one year40/41 | - | €31,983 | - |
| Trade receivables40 | - | €31,983 | - |
| Cash at bank and in hand54/58 | €1,245 | €4,411 | ▲ 254% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €97,506 | €15.2m | ▲ 15,447% |
| Equity10/15 | €92,737 | €8,656 | ▼ 90.7% |
| Contributions10/11 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€7,263 | -€91,344 | ▼ 1,158% |
| Amounts payable17/49 | €4,769 | €15.2m | ▲ 317,599% |
| Amounts payable after more than one year17 | - | €15.0m | - |
| Financial debts170/4 | - | €15.0m | - |
| Amounts payable within one year42/48 | €4,618 | €4,752 | ▲ 2.9% |
| Trade debts44 | €4,618 | €4,752 | ▲ 2.9% |
| Suppliers440/4 | €4,618 | €4,752 | ▲ 2.9% |
| Accrued charges and deferred income492/3 | €151 | €146,015 | ▲ 96,439% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€7,263 | -€84,081 | ▼ 1,058% |
| Operating cash flow (approximation) | -€7,263 | -€84,081 | ▼ 1,058% |
| Investment in fixed assets (approximation) | - | -€8.2m | - |
| Change in cash | - | €3,166 | - |
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
2026
18-09
State Gazette act
Resignations: GHEMIC BV (director) and Paul Gheysens (director)Permanent representatives: Michael Gheysens, Jonas Van Poucke and Nicolas Gaelens · Appointments: JOVACK (director) and GALCYON (director) · Director discharge10 facts ▸
State Gazette act
Resignations: GHEMIC BV (director) and Paul Gheysens (director)
Permanent representatives: Michael Gheysens, Jonas Van Poucke and Nicolas Gaelens · Appointments: JOVACK (director) and GALCYON (director) · Director discharge10 facts ▸
- Director resignation, GHEMIC BV (director)
- Director resignation, Paul Gheysens (director)
- Permanent representative, Michael Gheysens (permanent representative)
- Director discharge, GHEMIC BV
- Director discharge, Paul Gheysens
- Director appointment, JOVACK (director)
- Director appointment, GALCYON (director)
- Permanent representative, Jonas Van Poucke (permanent representative)
- Permanent representative, Nicolas Gaelens (permanent representative)
- Registered-office move, Ooigemstraat 47, 8760 Tielt
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity times 180current ratio 1454.93
Current ratio from 8.07 to 1454.93.
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Board 2
GALCYON
CurrentDirector · since 07-09-2026 · Private limited company · perm. rep.: Nicolas Gaelens
JOVACK
CurrentDirector · since 07-09-2026 · Private limited company · perm. rep.: Jonas Van Poucke
Permanent representatives 2
Jonas Van Poucke
CurrentPermanent representative · since 07-09-2026 · for JOVACK
Nicolas Gaelens
CurrentPermanent representative · since 07-09-2026 · for GALCYON
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Tielt · 1 establishment unit since 2022
Ground area
6,998 m²
Building footprint
2,171 m²
Volume, LiDAR
14,477 m³
2 parcels, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
CABALLUS
since 20222.342.084.103
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33305B1021/00D002 | Flanders | 5,629 m² | 1 · 1,997 m² | 8.8 m · 2 fl. |
| 37007E1266/00A000 | Flanders | 1,369 m² | 1 · 174 m² | 8.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
4 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| GALCYON |
|
| JOVACK |
|
| Ghemic BV |
|
| Paul Gheysens |
|
Articles of association
Board rule
One provision in the deed
Structure & network
Part of the group
GHELAMCO GROUP
65 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- GHELAMCO GROUP
- GHELAMCO INVEST
- CABALLUS
Highest known parent: GHELAMCO GROUP. The sources do not say who stands above it.
Owners 1
- GHELAMCO INVESTparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
1 connected companyThe connected companies are in the list below.
This company
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Director
Shareholding
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Linked via shared directors
Damien
Shared corporate director
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 2,919 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0794539767
Also
9925:BE0794539767
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.