Equity
€16.7m ▲ 0.1%
CANAL PROPERTIES paid out €3.0m in dividends. That is 100% of the 2025 profit.
CANAL PROPERTIES
Lifetime
20 annual accounts with figures on one time axis, 34 filings since 1992peak €5.4m (2017)
€1.5m▲ 46.8%
lowest -€1.3m (2011)
€3.0m▲ 538%
peak €17.7m (2023)
€16.7m▲ 0.1%
€23.6m▼ 16.3%
peak 0 FTE (2023)
0 FTE
Board3 names since 2017
3 directorsDEBINCO and 2 others
Owners2 names in the annual accounts
100%DEBINCO
Documentsfilings and deeds
12-05-202680 days before the deadline
2025abbreviated format
Gross margin from €1.0m to €1.5mResult from €472,691 to €3.0mDividend €3.0mDebts from €28.2m to €23.6mInvestments €5.5mCash from €101,755 to €24,692
Key points
from the 2025 annual accountsResult
€3.0m ▲ 538%
The result rose in 2025 from €472,691 to €3.0m.
Turnover
≈ €2.0m estimated
The abbreviated format states no turnover.
Investments
€5.7m 10.0 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 524.6% higher than in 2024.
Filings
34 annual accounts since 1992
The last five annual accounts were filed 47 to 105 days before the end of the period.
Position in the sector
€3.0m
Higher net result than 95% of companies in real estate. Sector median €9,997 · 11,290 companies.
Checked score
93
Excellent
Financially stronger than 44% of medium-sized companies in real estate (NACE 68)
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 1,720 companies (NACE 68, medium-sized).
About 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 03-2025highest value
05-2025: 0.1%● unchanged vs 04-2025lowest value
06-2025: 0.1%● unchanged vs 05-2025lowest value
07-2025: 0.1%● unchanged vs 06-2025lowest value
08-2025: 0.1%● unchanged vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.1%● unchanged vs 09-2025lowest value
11-2025: 0.1%● unchanged vs 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025lowest value
01-2026: 0.1%● unchanged vs 12-2025lowest value
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 strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.94, cash €24,692, halved
lowers risk
Founded in 1991
Size: total assets €40.3m
Figures for financial year 2025 (filed on 12-05-2026)
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 68, medium-sized). It does better than 63% of them on solvency, 17% on liquidity, 55% on profitability and 43% on growth.
The bankruptcy probability was computed on 08-11-2026 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, 321 companies had the same profile as CANAL PROPERTIES has now. Each dot is one company, two years later.
97.5%
were still trading
2.5%
stopped another way
0.0%
went bankrupt
That fits the bankruptcy probability of CANAL PROPERTIES 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.
| 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 321 companies, not a prediction for CANAL PROPERTIES. 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 €1,550,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.94 (1.13 in 2024), below 1. Short-term debt is 55.5% and cash 0.1% of total assets. 58.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-05-2026, 80 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
80 days early
2024
105 days early
2023
70 days early
2022
47 days early
2021
68 days early
2020
99 days early
2019
98 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 81 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · 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 23 May (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Merger proposal: CANAL PROPERTIES takes over TARGET INVEST
Permanent representative: DE BRUYN Philip · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0444627313
Environmental permit granted
Bouwen of herbouwen, Functiewijziging, Verwijderen van vrijstaande gebouwen · Gent
3 directors appointed
Ignaas Vandenabeele, Isabelle De Bruyn and DEBINCO · Permanent representative: Philip De Bruyn · General meeting of 21-12-2022 · Gazette deed
Comparable companies
same main activity, similar in size and ageThese companies have the same main activity as CANAL PROPERTIES: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €23m and €53m, founded between 1987 and 1995.
Official details
Source: KBO- Status
- Active since 03-07-1991Normal situation
- Registered office
- 10 active companies are registered at this addressSource: KBO register, as of 9 November 2026.
- Activity
- Development of residential building projectsNACE 68121and 3 others
- Establishment unit
- 2.054.316.7759000 Ghent, since 23-09-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 12-01-2026
Annual accounts 2025
- €40.3m▼ 10.2%
- Filing
- Filed on 12-05-2026, 80 days before the end of the filing period
Companies linked to CANAL PROPERTIES
Subsidiaries and holdings
- TAFT100%
- TARGET INVEST100%
- CANAL CONSTRUCT50%
- ELEKTRION DEVELOPMENT50%
- ELEKTRION LAND50%
Insights on CANAL PROPERTIES
CANAL PROPERTIES files the abbreviated format. That format states no turnover. The gross margin rose from -€267,743 in 2006 to €1.5m in 2025.
DEBINCO holds all the shares. In January 2023, the Official Gazette published the appointment of DEBINCO as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CANAL PROPERTIES
- What is the company number of CANAL PROPERTIES?
- The company number of CANAL PROPERTIES is 0444.627.313. The VAT number is the same number with BE in front: BE 0444.627.313.
- Where is CANAL PROPERTIES based?
- The registered office is at Gordunakaai 87, 9000 Ghent.Company details
- What does CANAL PROPERTIES do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of CANAL PROPERTIES?
- CANAL PROPERTIES is a public limited company (NV).
- When was CANAL PROPERTIES founded?
- CANAL PROPERTIES was founded on 03-07-1991.
- Is CANAL PROPERTIES still active?
- Yes, CANAL PROPERTIES is an active enterprise in the KBO register.
- What is the turnover of CANAL PROPERTIES?
- The turnover in financial year 2025 is ≈ €2.0m. This figure is estimated from the gross margin of €1.5m and 40 comparable companies (NACE 681). It probably lies between €1.6m and €4.2m.Financials
- Is CANAL PROPERTIES profitable?
- In financial year 2025, CANAL PROPERTIES made a profit of €3.0m.
- Where can I find the annual accounts of CANAL PROPERTIES?
- CANAL PROPERTIES filed 34 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CANAL PROPERTIES due?
- CANAL PROPERTIES must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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