CALLENSTEF
ActiveSummary
CALLENSTEF has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.0m and a net result of €10,087. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 83% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-1
Solvency100=
Growth32=
Track record94
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140,000 at 30 days acceptable
Liquidity short (current ratio 0.37 against 2.9 in 2024; short-term debt: 20.1% and cash: 2% of total assets), and 22.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
77.5%
Return on assets
0.4%
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 31-08-2026, 31 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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
69 d late
2023
30 d late
2022
71 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 46 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 31 August (4 of the last 5 filed years within 38 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.0m▲ 0.5%
2024 · €2.0m
Total assets
€2.6m▲ 21.7%
2024 · €2.2m
Net result
€10,087▼ 34.6%
2024 · €15,418
Working capital
-€336,663
2024 · €163,878
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€20,141-€59,006€37,510▼ 36.4%-€27,128-€10,241▲ 62.2%
Net result€50,660above the sector's middle half-€75,072above the sector's middle half▲ 48.2%€61,959above the sector's middle half▼ 17.5%€15,418within the sector's middle half▼ 75.1%€10,087within the sector's middle half▼ 34.6%
Equity€2.1mabove the sector's middle half-€2.0mabove the sector's middle half▼ 6.6%€2.0mabove the sector's middle half▲ 3.2%€2.0mabove the sector's middle half▲ 0.8%€2.0mabove the sector's middle half▲ 0.5%
Total assets€2.1mabove the sector's middle half-€2.0mabove the sector's middle half▼ 5.8%€2.3mabove the sector's middle half▲ 14.2%€2.2mwithin the sector's middle half▼ 5.5%€2.6mwithin the sector's middle half▲ 21.7%
Debt€7,244-€24,393▲ 237%€236,267▲ 869%€97,291▼ 58.8%€562,237▲ 478%
Working capital€1.0mabove the sector's middle half-€801,534above the sector's middle half▼ 21.3%€447,363above the sector's middle half▼ 44.2%€163,878within the sector's middle half▼ 63.4%-€336,663below the sector's middle half
Solvency98.2%above the sector's middle half-97.4%above the sector's middle half▼ 0.8pp88.0%above the sector's middle half▼ 9.4pp93.9%above the sector's middle half▲ 5.9pp77.5%above the sector's middle half▼ 16.4pp
Current ratio33.86above the sector's middle half2.99above the sector's middle half▼ 30.872.90above the sector's middle half▼ 0.090.37below the sector's middle half▼ 2.53
Return on assets (ROA)2.4%within the sector's middle half-3.7%within the sector's middle half▲ 1.4pp2.7%within the sector's middle half▼ 1.0pp0.7%within the sector's middle half▼ 2.0pp0.4%within the sector's middle half▼ 0.3pp
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 or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €10,241 in 2025 against €27,128 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.4m ▲ 27.4%
Current assets
€195,122 ▼ 22.0%
Equity and liabilities €2.6m
Equity
€2.0m ▲ 0.5%
Provisions
€32,104 ▼ 9.9%
Debt
€562,237 ▲ 478%
Debt's share of the balance-sheet total rises from 4.5% to 21.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€32,577▲
2024 · €11,718
Cash flow
€52,904▼
2024 · €54,263
Debt to equity
0.27▲
2024 · 0.05
ROE
0.5%▼
2024 · 0.8%
Interest coverage
9.47▼
2024 · 66.71
Debt ≤ 1 year
€531,785▲
2024 · €86,212
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,639 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.4%
went bankrupt
3.6%
stopped otherwise
95%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,639 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,943 | €24,940 | €33,208 | €38,846 | €42,817 | ▲ 10.2% |
| Other operating charges640/8 | - | - | €70,821 | €100,278 | €95,477 | ▼ 4.8% |
| Gross operating margin9900 | €4,801 | €83,946 | €141,540 | €111,996 | €128,053 | ▲ 14.3% |
| Operating profit (loss)9901 | -€20,141 | €59,006 | €37,510 | -€27,128 | -€10,241 | ▲ 62.2% |
| Financial income75/76B | €73,942 | €32,328 | €47,145 | €39,183 | €20,228 | ▼ 48.4% |
| Recurring financial income75 | €73,942 | €32,328 | €47,145 | €39,183 | €20,228 | ▼ 48.4% |
| Financial charges65/66B | €15 | €34 | €11,114 | €176 | €3,438 | ▲ 1,857% |
| Recurring financial charges65 | €15 | €34 | €11,114 | €176 | €3,438 | ▲ 1,857% |
| Profit (loss) for the period before taxes9903 | €53,785 | €91,300 | €73,541 | €11,879 | €6,549 | ▼ 44.9% |
| Transfer from deferred taxes780 | - | €3,538 | €3,538 | €3,538 | €3,538 | = |
| Transfer to deferred taxes680 | - | - | €15,121 | €0 | - | - |
| Income taxes67/77 | €3,125 | €19,766 | €0 | - | - | - |
| Profit (loss) for the period9904 | €50,660 | €75,072 | €61,959 | €15,418 | €10,087 | ▼ 34.6% |
| Transfer from tax-exempt reserves789 | €14,153 | €10,615 | €21,963 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €64,813 | €85,687 | €83,922 | €15,418 | €10,087 | ▼ 34.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.1m | €2.0m | €2.3m | €2.2m | €2.6m | ▲ 21.7% |
| Fixed assets21/28 | €1.1m | €1.2m | €1.6m | €1.9m | €2.4m | ▲ 27.4% |
| Tangible fixed assets22/27 | €344,938 | €319,998 | €858,789 | €1.2m | €1.3m | ▲ 10.2% |
| Land and buildings22 | €344,938 | €319,998 | €858,789 | €1.2m | €1.3m | ▲ 10.2% |
| Financial fixed assets28 | €768,019 | €868,019 | €768,019 | €768,019 | €1.2m | ▲ 53.3% |
| Current assets29/58 | €1.0m | €825,927 | €672,551 | €250,090 | €195,122 | ▼ 22.0% |
| Amounts receivable after more than one year29 | €108,000 | €81,000 | €54,000 | €27,000 | €0 | ▼ 100% |
| Other amounts receivable291 | €108,000 | €81,000 | €54,000 | €27,000 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €299,004 | €277,009 | €153,716 | €159,964 | €141,386 | ▼ 11.6% |
| Trade receivables40 | - | €30,000 | €0 | €8,795 | €10,183 | ▲ 15.8% |
| Other amounts receivable41 | €299,004 | €247,009 | €153,716 | €151,169 | €131,203 | ▼ 13.2% |
| Cash at bank and in hand54/58 | €616,507 | €460,800 | €464,025 | €62,721 | €53,736 | ▼ 14.3% |
| Deferred charges and accrued income490/1 | €1,620 | €7,118 | €810 | €405 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.1m | €2.0m | €2.3m | €2.2m | €2.6m | ▲ 21.7% |
| Equity10/15 | €2.1m | €2.0m | €2.0m | €2.0m | €2.0m | ▲ 0.5% |
| Contributions10/11 | €626,593 | €416,893 | €416,893 | €416,893 | €416,893 | = |
| Reserves13 | €96,052 | €85,437 | €63,474 | €63,474 | €63,474 | = |
| Tax-exempt reserves132 | €32,578 | €21,963 | €0 | - | - | - |
| Distributable reserves133 | €63,474 | €63,474 | €63,474 | €63,474 | €63,474 | = |
| Profit (loss) carried forward14 | €1.4m | €1.5m | €1.5m | €1.6m | €1.6m | ▲ 0.6% |
| Provisions and deferred taxes16 | €31,136 | €27,598 | €39,180 | €35,642 | €32,104 | ▼ 9.9% |
| Deferred taxes168 | €31,136 | €27,598 | €39,180 | €35,642 | €32,104 | ▼ 9.9% |
| Amounts payable17/49 | €7,244 | €24,393 | €236,267 | €97,291 | €562,237 | ▲ 478% |
| Amounts payable within one year42/48 | €7,244 | €24,393 | €225,188 | €86,212 | €531,785 | ▲ 517% |
| Trade debts44 | - | €254 | €19,759 | €23,866 | €4,708 | ▼ 80.3% |
| Suppliers440/4 | - | €254 | €19,759 | €23,866 | €4,708 | ▼ 80.3% |
| Advances received on contracts in progress46 | - | - | - | €30,093 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €2,234 | €24,139 | €25,689 | €32,253 | €20,030 | ▼ 37.9% |
| Taxes450/3 | €2,234 | €24,139 | €25,689 | €32,253 | €20,030 | ▼ 37.9% |
| Other amounts payable47/48 | €5,010 | €0 | €179,740 | €0 | €507,046 | - |
| Accrued charges and deferred income492/3 | - | - | €11,080 | €11,080 | €30,453 | ▲ 175% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50,660 | €75,072 | €61,959 | €15,418 | €10,087 | ▼ 34.6% |
| + Depreciation and write-downs630 | €24,943 | €24,940 | €33,208 | €38,846 | €42,817 | ▲ 10.2% |
| Operating cash flow (approximation) | €75,603 | €100,012 | €95,167 | €54,263 | €52,904 | ▼ 2.5% |
| Investment in fixed assets (approximation) | - | -€100,000 | -€472,000 | -€334,210 | -€569,281 | ▼ 70.3% |
| Change in cash | - | -€155,707 | €3,225 | -€401,303 | -€8,985 | ▲ 97.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €10,087 ▼34.6%
Net result drops to €10,087, the lowest in the series.
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 69 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Equity above €2mEq €2.0m ▲3.2%
3 profitable years in a row build equity to €2.0m.
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 71 days late
2022
31-12
Financial
Highest result since 2021net €75,072 ▲48.2%
Operating result €59,006, net result €75,072, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Keerbergen · 1 establishment unit since 2021
Ground area
1,545 m²
Building footprint
250 m²
Volume, LiDAR
1,097 m³
Parcel 24472F0016/00P000, Flanders · tallest building 7.0 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Vlieghavenlaan 114, 3140 Keerbergen
since 20212.323.188.305
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24472F0016/00P000 | Flanders | 1,545 m² | 1 · 250 m² | 7.0 m · 1 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.
Structure & network
Owners and holdings
1 owner · 3 holdingsChain of control
- MATLUC
- CALLENSTEF
Highest known parent: MATLUC. The sources do not say who stands above it.
Owners 1
- MATLUCparentSourceaccounts MATLUC 2025100%
Holdings 3
-
50%
-
50%
-
49.52%
According to the 2025 annual accounts of CALLENSTEF and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 4,286 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
Founded06-08-2021
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0772337655
Also
9925:BE0772337655
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.