CASE INTERNATIONAL
ActiveSummary
CASE INTERNATIONAL has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€614,295) and a net result of -€25,533. Equity is shrinking by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability1▼-11
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.03 against 0.03 in 2024; short-term debt: 325.6% and cash: 5.4% of total assets), and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 2025Solvency, return and age of the figures
Solvency
-334.5%
Return on assets
-13.9%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€614,295
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 13-06-2026, 48 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
48 d early
2024
46 d early
2023
34 d early
2022
52 d early
2021
on the day
2020
10 d late
2019
33 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 29 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 (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 15 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€614,295▼ 4.3%
2024 · -€588,762
Total assets
€183,648▼ 11.6%
2024 · €207,695
Net result
-€25,533▲ 3.9%
2024 · -€26,558
Working capital
-€581,249▼ 0.4%
2024 · -€579,087
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-€26,608▼ 43.1%-€8,126▲ 69.5%-€34,909▼ 330%-€26,212▲ 24.9%-€25,318▲ 3.4%
Net result-€26,928below the sector's middle half▼ 42.8%-€8,381below the sector's middle half▲ 68.9%-€35,240below the sector's middle half▼ 320%-€26,558below the sector's middle half▲ 24.6%-€25,533below the sector's middle half▲ 3.9%
Equity-€518,584below the sector's middle half▼ 5.5%-€526,965below the sector's middle half▼ 1.6%-€562,205below the sector's middle half▼ 6.7%-€588,762below the sector's middle half▼ 4.7%-€614,295below the sector's middle half▼ 4.3%
Total assets€285,786within the sector's middle half▼ 10.0%€284,178within the sector's middle half▼ 0.6%€234,089within the sector's middle half▼ 17.6%€207,695within the sector's middle half▼ 11.3%€183,648within the sector's middle half▼ 11.6%
Debt€804,370▼ 0.6%€811,143▲ 0.8%€796,294▼ 1.8%€796,457=€797,943▲ 0.2%
Working capital-€587,383below the sector's middle half▲ 0.1%-€568,521below the sector's middle half▲ 3.2%-€576,518below the sector's middle half▼ 1.4%-€579,087below the sector's middle half▼ 0.4%-€581,249below the sector's middle half▼ 0.4%
Solvency-181.5%below the sector's middle half▼ 26.6pp-185.4%below the sector's middle half▼ 4.0pp-240.2%below the sector's middle half▼ 54.7pp-283.5%below the sector's middle half▼ 43.3pp-334.5%below the sector's middle half▼ 51.0pp
Current ratio0.03below the sector's middle half▼ 0.010.07below the sector's middle half▲ 0.040.03below the sector's middle half▼ 0.040.03below the sector's middle half=0.03below the sector's middle half=
Return on assets (ROA)-9.4%below the sector's middle half▼ 3.5pp-2.9%below the sector's middle half▲ 6.5pp-15.1%below the sector's middle half▼ 12.1pp-12.8%below the sector's middle half▲ 2.3pp-13.9%below the sector's middle half▼ 1.1pp
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
The operating result stays negative: a loss of €25,318 in 2025 against €26,212 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €183,648
Fixed assets
€166,953 ▼ 12.3%
Current assets
€16,694 ▼ 3.9%
Key figures and ratios
EBITDA
-€1,946▼
2024 · €390
Cash flow
-€2,161▼
2024 · €44
Debt to equity
-1.30▲
2024 · -1.35
Interest coverage
-7.14▼
2024 · 1.13
Debt ≤ 1 year
€597,943▲
2024 · €596,457
Debt > 1 year
€200,000=
2024 · €200,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 6,639 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €500 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,243 | €27,243 | €27,243 | €26,602 | €23,372 | ▼ 12.1% |
| Other operating charges640/8 | €4,408 | €4,530 | €5,358 | €5,537 | €6,023 | ▲ 8.8% |
| Gross operating margin9900 | €5,043 | €23,647 | -€2,308 | €5,926 | €4,077 | ▼ 31.2% |
| Operating profit (loss)9901 | -€26,608 | -€8,126 | -€34,909 | -€26,212 | -€25,318 | ▲ 3.4% |
| Financial income75/76B | - | - | - | - | €57 | - |
| Recurring financial income75 | - | - | - | - | €57 | - |
| Financial charges65/66B | €320 | €254 | €330 | €346 | €272 | ▼ 21.2% |
| Recurring financial charges65 | €320 | €254 | €330 | €346 | €272 | ▼ 21.2% |
| Profit (loss) for the period before taxes9903 | -€26,928 | -€8,381 | -€35,240 | -€26,558 | -€25,533 | ▲ 3.9% |
| Profit (loss) for the period9904 | -€26,928 | -€8,381 | -€35,240 | -€26,558 | -€25,533 | ▲ 3.9% |
| Profit (loss) for the period to be appropriated9905 | -€26,928 | -€8,381 | -€35,240 | -€26,558 | -€25,533 | ▲ 3.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €285,786 | €284,178 | €234,089 | €207,695 | €183,648 | ▼ 11.6% |
| Fixed assets21/28 | €268,799 | €241,556 | €214,313 | €190,325 | €166,953 | ▼ 12.3% |
| Tangible fixed assets22/27 | €268,799 | €241,556 | €214,313 | €190,325 | €166,953 | ▼ 12.3% |
| Land and buildings22 | €267,649 | €240,636 | €213,623 | €187,600 | €164,807 | ▼ 12.1% |
| Plant, machinery and equipment23 | €1,150 | €920 | €690 | €2,725 | €2,147 | ▼ 21.2% |
| Current assets29/58 | €16,987 | €42,622 | €19,776 | €17,370 | €16,694 | ▼ 3.9% |
| Amounts receivable within one year40/41 | - | - | €4,551 | €637 | €1,542 | ▲ 142% |
| Trade receivables40 | - | - | €4,551 | €637 | €1,542 | ▲ 142% |
| Current investments50/53 | - | - | €1,086 | €3,054 | €5,163 | ▲ 69.1% |
| Cash at bank and in hand54/58 | €16,987 | €26,788 | €14,139 | €13,678 | €9,989 | ▼ 27.0% |
| Deferred charges and accrued income490/1 | - | €15,834 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €285,786 | €284,178 | €234,089 | €207,695 | €183,648 | ▼ 11.6% |
| Equity10/15 | -€518,584 | -€526,965 | -€562,205 | -€588,762 | -€614,295 | ▼ 4.3% |
| Contributions10/11 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Reserves13 | €1,535 | €1,535 | €1,535 | €1,535 | €1,535 | = |
| Non-distributable reserves130/1 | €1,535 | €1,535 | - | - | - | - |
| Reserves not available under the articles1311 | €1,535 | €1,535 | - | - | - | - |
| Distributable reserves133 | - | - | €1,535 | €1,535 | €1,535 | = |
| Profit (loss) carried forward14 | -€532,619 | -€541,000 | -€576,240 | -€602,797 | -€628,330 | ▼ 4.2% |
| Amounts payable17/49 | €804,370 | €811,143 | €796,294 | €796,457 | €797,943 | ▲ 0.2% |
| Amounts payable after more than one year17 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Financial debts170/4 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Amounts payable within one year42/48 | €604,370 | €611,143 | €596,294 | €596,457 | €597,943 | ▲ 0.2% |
| Trade debts44 | - | €5,754 | €542 | €1,412 | €630 | ▼ 55.4% |
| Suppliers440/4 | - | €5,754 | €542 | €1,412 | €630 | ▼ 55.4% |
| Other amounts payable47/48 | €604,370 | €605,388 | €595,752 | €595,045 | €597,313 | ▲ 0.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€26,928 | -€8,381 | -€35,240 | -€26,558 | -€25,533 | ▲ 3.9% |
| + Depreciation and write-downs630 | €27,243 | €27,243 | €27,243 | €26,602 | €23,372 | ▼ 12.1% |
| Operating cash flow (approximation) | €315 | €18,862 | -€7,997 | €44 | -€2,161 | ▼ 5,012% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€2,614 | €0 | ▲ 100% |
| Change in cash | - | €9,801 | -€12,649 | -€461 | -€3,689 | ▼ 701% |
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
13-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
15-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€35,240
Net result drops to -€35,240, the lowest in the series; recovery starts the following year.
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
28-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Landen · 1 establishment unit since 2001
Ground area
3,050 m²
Building footprint
844 m²
Volume, LiDAR
4,553 m³
Parcel 24059A0434/00F000, Flanders · tallest building 19.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Case International
since 20012.100.054.255
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24059A0434/00F000 | Flanders | 3,050 m² | 1 · 844 m² | 19.2 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,145 companies in sector 68201 we hold annual accounts for 6,776. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-04-2000
Fiscal year end31-12
Abbreviation NL
CASE
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
35110Production of electricity from non-renewable sources
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471579752
Also
9925:BE0471579752
Registered
30-12-2025
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.