CANMAR
ActiveSummary
CANMAR has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €19,795 and a net result of €10,346. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 24% of 19362 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability40▲+5
Solvency29▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 1.52 against 0.7 in 2023; short-term debt: 63.8% and cash: 8.1% of total assets), but 96.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
3.8%
Return on assets
2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 19362 sector peers (2024).
NBB · sector comparisonPosition among 19362 sector peers
Solvency
better than 24%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €19,795
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-08-2025, 30 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 · 8 filingsDeviation from the deadline
2025
not confirmed
2024
30 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
31 d late
2019
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 23 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€19,795▲ 109%
2023 · €9,449
Total assets
€517,020▼ 16.0%
2023 · €615,353
Net result
€10,346▲ 1,531%
2023 · €634
Working capital
€170,552
2023 · -€123,945
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
Line20202021202220232024
Operating result€17,164▲ 2,476%€242▼ 98.6%€2,051▲ 746%€15,573▲ 659%€31,091▲ 99.6%
Net result€13,490within the sector's middle half▲ 21,928%€22within the sector's middle half▼ 99.8%€33within the sector's middle half▲ 50.0%€634within the sector's middle half▲ 1,805%€10,346within the sector's middle half▲ 1,531%
Equity€8,759below the sector's middle half€8,781below the sector's middle half▲ 0.3%€8,815below the sector's middle half▲ 0.4%€9,449below the sector's middle half▲ 7.2%€19,795within the sector's middle half▲ 109%
Total assets€523,818within the sector's middle half▲ 109%€221,418within the sector's middle half▼ 57.7%€675,004within the sector's middle half▲ 205%€615,353within the sector's middle half▼ 8.8%€517,020within the sector's middle half▼ 16.0%
Debt€515,059▲ 102%€212,637▼ 58.7%€666,190▲ 213%€605,904▼ 9.0%€497,225▼ 17.9%
Working capital€8,759€8,851▲ 1.1%€8,815▼ 0.4%-€123,945€170,552
Solvency1.7%below the sector's middle half▲ 3.6pp4.0%below the sector's middle half▲ 2.3pp1.3%below the sector's middle half▼ 2.7pp1.5%below the sector's middle half▲ 0.2pp3.8%below the sector's middle half▲ 2.3pp
Staff (FTE)2
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 100% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €517,020
Fixed assets
€16,866 ▼ 94.9%
Current assets
€500,155 ▲ 75.5%
Equity and liabilities €517,020
Equity
€19,795 ▲ 109%
Debt
€497,225 ▼ 17.9%
Debt's share of the balance-sheet total falls from 98.5% to 96.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€35,842▲
2023 · €28,961
Cash flow
€15,096▲
2023 · €14,022
Current ratio
1.52▲
2023 · 0.70
Debt to equity
25.12▼
2023 · 64.12
ROE
52.3%▲
2023 · 6.7%
ROA
2.0%▲
2023 · 0.1%
Interest coverage
2.20▲
2023 · 1.94
Debt ≤ 1 year
€329,603▼
2023 · €408,961
Debt > 1 year
€167,623▼
2023 · €196,943
Income taxes
€4,534▲
2023 · €89
Staff costs
€394,390▲
2023 · €122,745
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,600 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.6%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 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% | 1.6% |
| 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 74% 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 1,600 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,767 | - |
| Remuneration, social security and pensions62 | - | - | - | €122,745 | €394,390 | ▲ 221% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €13,388 | €4,751 | ▼ 64.5% |
| Other operating charges640/8 | - | €468 | €4,817 | €1,407 | €5,449 | ▲ 287% |
| Non-recurring operating charges66A | - | - | - | - | €35,607 | - |
| Gross operating margin9900 | €17,631 | €710 | €6,868 | €153,113 | €471,288 | ▲ 208% |
| Operating profit (loss)9901 | €17,164 | €242 | €2,051 | €15,573 | €31,091 | ▲ 99.6% |
| Financial income75/76B | - | - | €1 | €56 | €76 | ▲ 36.0% |
| Recurring financial income75 | - | - | €1 | €56 | €76 | ▲ 36.0% |
| Financial charges65/66B | - | €220 | €1,868 | €14,905 | €16,288 | ▲ 9.3% |
| Recurring financial charges65 | €3,646 | €220 | €1,868 | €14,905 | €16,288 | ▲ 9.3% |
| Profit (loss) for the period before taxes9903 | €13,519 | €22 | €184 | €724 | €14,879 | ▲ 1,956% |
| Income taxes67/77 | €29 | €0 | €150 | €89 | €4,534 | ▲ 4,984% |
| Profit (loss) for the period9904 | €13,490 | €22 | €33 | €634 | €10,346 | ▲ 1,531% |
| Profit (loss) for the period to be appropriated9905 | €13,490 | €22 | €33 | €634 | €10,346 | ▲ 1,531% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €523,818 | €221,418 | €675,004 | €615,353 | €517,020 | ▼ 16.0% |
| Fixed assets21/28 | - | - | - | €330,337 | €16,866 | ▼ 94.9% |
| Intangible fixed assets21 | - | - | - | €275,474 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | - | - | - | €52,963 | €14,966 | ▼ 71.7% |
| Plant, machinery and equipment23 | - | - | - | €5,701 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €47,262 | €14,966 | ▼ 68.3% |
| Financial fixed assets28 | - | - | - | €1,900 | €1,900 | = |
| Current assets29/58 | €523,818 | €221,418 | €675,004 | €285,016 | €500,155 | ▲ 75.5% |
| Stocks and contracts in progress3 | - | €167,359 | €630,760 | €145,468 | €0 | ▼ 100% |
| Stocks30/36 | - | €167,359 | €630,760 | €36,703 | €0 | ▼ 100% |
| Contracts in progress37 | - | - | - | €108,765 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €428,727 | €15,634 | €16,475 | €83,126 | €447,100 | ▲ 438% |
| Trade receivables40 | - | - | - | €70,659 | €446,196 | ▲ 531% |
| Other amounts receivable41 | - | €15,634 | €16,475 | €12,467 | €904 | ▼ 92.7% |
| Cash at bank and in hand54/58 | €95,090 | €38,426 | €27,769 | €43,282 | €41,963 | ▼ 3.0% |
| Deferred charges and accrued income490/1 | - | - | - | €13,140 | €11,092 | ▼ 15.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €523,818 | €221,418 | €675,004 | €615,353 | €517,020 | ▼ 16.0% |
| Equity10/15 | €8,759 | €8,781 | €8,815 | €9,449 | €19,795 | ▲ 109% |
| Contributions10/11 | - | €8,680 | €8,680 | €8,680 | €8,680 | = |
| Profit (loss) carried forward14 | €79 | €101 | €135 | €769 | €11,115 | ▲ 1,345% |
| Amounts payable17/49 | €515,059 | €212,637 | €666,190 | €605,904 | €497,225 | ▼ 17.9% |
| Amounts payable after more than one year17 | - | - | - | €196,943 | €167,623 | ▼ 14.9% |
| Financial debts170/4 | - | - | - | €196,943 | €167,623 | ▼ 14.9% |
| Amounts payable within one year42/48 | €515,059 | €212,567 | €666,190 | €408,961 | €329,603 | ▼ 19.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €28,057 | €29,320 | ▲ 4.5% |
| Financial debts43 | - | €70,000 | €500,000 | €50,000 | €100,000 | ▲ 100% |
| Credit institutions430/8 | - | €70,000 | €500,000 | €50,000 | €100,000 | ▲ 100% |
| Trade debts44 | €15,037 | €287 | €35,145 | €91,840 | €22,500 | ▼ 75.5% |
| Suppliers440/4 | - | €287 | €35,145 | €91,840 | €22,500 | ▼ 75.5% |
| Advances received on contracts in progress46 | - | - | - | - | €2,075 | - |
| Taxes, remuneration and social security45 | - | €6 | €150 | €47,891 | €14,177 | ▼ 70.4% |
| Taxes450/3 | - | €6 | €150 | €203 | €10,558 | ▲ 5,111% |
| Remuneration and social security454/9 | - | - | - | €47,689 | €3,619 | ▼ 92.4% |
| Other amounts payable47/48 | - | €142,274 | €130,894 | €191,172 | €161,531 | ▼ 15.5% |
| Accrued charges and deferred income492/3 | - | €70 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,490 | €22 | €33 | €634 | €10,346 | ▲ 1,531% |
| + Depreciation and write-downs630 | - | - | - | €13,388 | €4,751 | ▼ 64.5% |
| Operating cash flow (approximation) | €13,490 | €22 | €33 | €14,022 | €15,096 | ▲ 7.7% |
| Investment in fixed assets (approximation) | - | - | - | - | €308,721 | - |
| Change in cash | - | -€56,665 | -€10,657 | €15,513 | -€1,319 | ▼ 109% |
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
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 1.52
Current ratio from 0.70 to 1.52; short-term debt falls from €408,961 to €329,603.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €13,490 ▲21,928%
Net result €13,490, the highest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €61
Net result €61 after one loss-making year.
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 1 day late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Erpe-Mere · 1 establishment unit since 2017
Ground area
1.0 ha
Building footprint
6,494 m²
Volume, LiDAR
44,403 m³
Parcel 41015B0329/00F000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
CANMAR
since 20172.270.718.530
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41015B0329/00F000 | Flanders | 1.0 ha | 1 · 6,494 m² | 8.6 m · 2 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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 234 EUR awarded · 234 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 234 EUR |
| 2023 | 1 | 234 EUR | 0 EUR |
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. 4,042 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
Founded12-12-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
70200Business and other management consultancy
73300Public relations and communication consultancy
90391Promotion and organisation of arts and performing arts events
Contact
E-mail
lynn@immoderas.beLede
E-invoicing
Reachable via Peppol
Peppol ID
0208:0685848002
Also
9925:BE0685848002
Registered
25-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.