CASE YELLOW
ActiveSummary
CASE YELLOW has been active since 2004 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2026 annual accounts show equity of €4.5m and a net result of -€84,476. Equity is growing by ~31% per year across the filed fiscal years. Its solvency ranks better than 65% of 128 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability29▼-13
Solvency100▲+51
Growth52▼-26
Track record92
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.09 in 2025; short-term debt: 24.5% and cash: 1.9% of total assets), and 24.5% of the assets are financed with debt.
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Signals
Seven 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 →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
75.5%
Return on assets
-1.4%
Age of the figures
6 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 23-09-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
38 d early
2025
52 d early
2024
1 d early
2023
4 d early
2022
27 d early
2021
2 d early
2020
on the day
← 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 18 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Checked, nothing found (1)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. Usually files around 23 September (3 of the last 3 filed years within 37 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, micro schema
Equity
€4.5m▲ 934%
2025 · €433,416
Total assets
€5.9m▲ 226%
2025 · €1.8m
Net result
-€84,476
2025 · €8,897
Working capital
-€1.3m▼ 6.5%
2025 · -€1.3m
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
Line20222023202420252026
Operating result€217,513▲ 5.3%€110,415▼ 49.2%€41,130▼ 62.7%€67,763▲ 64.8%-€29,882
Net result€157,963above the sector's middle half▼ 3.7%€58,429above the sector's middle half▼ 63.0%€7,020within the sector's middle half▼ 88.0%€8,897within the sector's middle half▲ 26.7%-€84,476
Equity€498,448within the sector's middle half▲ 46.4%€556,877above the sector's middle half▲ 11.7%€563,898above the sector's middle half▲ 1.3%€433,416above the sector's middle half▼ 23.1%€4.5m▲ 934%
Total assets€1.6mwithin the sector's middle half▼ 17.1%€1.4mabove the sector's middle half▼ 8.6%€1.5mabove the sector's middle half▲ 7.1%€1.8mabove the sector's middle half▲ 19.7%€5.9m▲ 226%
Debt€1.1m▼ 31.2%€862,145▼ 18.2%€956,296▲ 10.9%€1.4m▲ 45.0%€1.5m▲ 5.0%
Working capital-€248,734below the sector's middle half▲ 64.7%-€188,602below the sector's middle half▲ 24.2%€128,267above the sector's middle half-€1.3mbelow the sector's middle half-€1.3m▼ 6.5%
Solvency32.1%within the sector's middle half▲ 13.9pp39.2%within the sector's middle half▲ 7.1pp37.1%within the sector's middle half▼ 2.1pp23.8%within the sector's middle half▼ 13.3pp75.5%▲ 51.7pp
Current ratio0.31below the sector's middle half▲ 0.270.19below the sector's middle half▼ 0.123.61above the sector's middle half▲ 3.420.09below the sector's middle half▼ 3.520.08▼ 0.01
Return on assets (ROA)10.2%above the sector's middle half▲ 1.4pp4.1%within the sector's middle half▼ 6.1pp0.5%within the sector's middle half▼ 3.7pp0.5%within the sector's middle half=-1.4%▼ 1.9pp
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 or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2026: a loss of €29,882 after €67,763 in 2025, the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €5.9m
Fixed assets
€5.8m ▲ 244%
Current assets
€114,190 ▼ 10.4%
Equity and liabilities €5.9m
Equity
€4.5m ▲ 934%
Debt
€1.5m ▲ 5.0%
Debt's share of the balance-sheet total falls from 76.2% to 24.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€78,433▼
2025 · €141,669
Cash flow
€23,840▼
2025 · €82,804
Debt to equity
0.33▼
2025 · 3.20
ROE
-1.9%▼
2025 · 2.1%
Interest coverage
1.43▼
2025 · 2.72
Debt ≤ 1 year
€1.5m▲
2025 · €1.4m
Income taxes
€56▼
2025 · €6,885
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 8,616 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €64,908 | €66,678 | €33,248 | €73,907 | €108,315 | ▲ 46.6% |
| Other operating charges640/8 | €19,490 | €17,007 | €960 | €12,550 | €11,071 | ▼ 11.8% |
| Non-recurring operating charges66A | €110,000 | - | - | - | - | - |
| Gross operating margin9900 | €411,911 | €194,100 | €75,338 | €154,220 | €89,505 | ▼ 42.0% |
| Operating profit (loss)9901 | €217,513 | €110,415 | €41,130 | €67,763 | -€29,882 | ▼ 144% |
| Financial income75/76B | €94 | €4,045 | €1,224 | €37 | €186 | ▲ 397% |
| Recurring financial income75 | €94 | €4,045 | €1,224 | €37 | €186 | ▲ 397% |
| Financial charges65/66B | €38,070 | €33,313 | €30,987 | €52,018 | €54,724 | ▲ 5.2% |
| Recurring financial charges65 | €38,070 | €33,313 | €30,987 | €52,018 | €54,724 | ▲ 5.2% |
| Non-recurring financial charges66B | - | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €179,537 | €81,147 | €11,367 | €15,782 | -€84,420 | ▼ 635% |
| Income taxes67/77 | €21,575 | €22,718 | €4,347 | €6,885 | €56 | ▼ 99.2% |
| Profit (loss) for the period9904 | €157,963 | €58,429 | €7,020 | €8,897 | -€84,476 | ▼ 1,049% |
| Profit (loss) for the period to be appropriated9905 | €157,963 | €58,429 | €7,020 | €8,897 | -€84,476 | ▼ 1,049% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.4m | €1.5m | €1.8m | €5.9m | ▲ 226% |
| Formation expenses20 | €16,476 | €8,238 | €4,130 | - | - | - |
| Fixed assets21/28 | €1.4m | €1.4m | €1.3m | €1.7m | €5.8m | ▲ 244% |
| Tangible fixed assets22/27 | €1.4m | €1.4m | €1.3m | €1.7m | €5.8m | ▲ 244% |
| Land and buildings22 | €1.4m | €1.3m | €1.3m | €1.7m | €5.8m | ▲ 244% |
| Plant, machinery and equipment23 | €44,843 | €36,335 | €0 | - | - | - |
| Current assets29/58 | €109,697 | €42,986 | €177,405 | €127,498 | €114,190 | ▼ 10.4% |
| Amounts receivable within one year40/41 | €42,570 | €12,714 | €124,074 | €66 | €67 | ▲ 2.0% |
| Trade receivables40 | €42,525 | €11,557 | €1,218 | - | - | - |
| Other amounts receivable41 | €45 | €1,157 | €122,856 | €66 | €67 | ▲ 2.0% |
| Current investments50/53 | - | - | €34,864 | - | - | - |
| Cash at bank and in hand54/58 | €31,747 | €30,272 | €17,864 | €126,839 | €114,123 | ▼ 10.0% |
| Deferred charges and accrued income490/1 | €35,380 | €0 | €602 | €594 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.4m | €1.5m | €1.8m | €5.9m | ▲ 226% |
| Equity10/15 | €498,448 | €556,877 | €563,898 | €433,416 | €4.5m | ▲ 934% |
| Contributions10/11 | €293,510 | €293,510 | €293,510 | €293,510 | €293,510 | = |
| Revaluation surpluses12 | €320,865 | €320,865 | €199,339 | €199,339 | €4.3m | ▲ 2,072% |
| Reserves13 | €22,380 | €22,380 | €143,907 | €4,528 | €4,528 | = |
| Non-distributable reserves130/1 | €1,820 | €1,820 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,820 | €1,820 | €0 | - | - | - |
| Distributable reserves133 | €20,560 | €20,560 | €143,907 | €4,528 | €4,528 | = |
| Profit (loss) carried forward14 | -€138,308 | -€79,878 | -€72,858 | -€63,961 | -€148,436 | ▼ 132% |
| Amounts payable17/49 | €1.1m | €862,145 | €956,296 | €1.4m | €1.5m | ▲ 5.0% |
| Amounts payable after more than one year17 | €695,533 | €624,338 | €895,000 | - | - | - |
| Financial debts170/4 | €695,533 | €588,638 | €895,000 | - | - | - |
| Other amounts payable178/9 | - | €35,700 | €0 | - | - | - |
| Amounts payable within one year42/48 | €358,431 | €231,588 | €49,138 | €1.4m | €1.5m | ▲ 5.0% |
| Current portion of amounts payable after more than one year42 | €102,338 | €106,895 | €0 | - | - | - |
| Financial debts43 | - | - | - | €1.3m | €1.4m | ▲ 3.7% |
| Credit institutions430/8 | - | - | - | €1.3m | €1.4m | ▲ 3.7% |
| Trade debts44 | €32,947 | €1,975 | €6,631 | €2,635 | €130 | ▼ 95.1% |
| Suppliers440/4 | €32,947 | €1,975 | €6,631 | €2,635 | €130 | ▼ 95.1% |
| Taxes, remuneration and social security45 | €23,145 | €2,718 | €7,647 | €19,322 | €936 | ▼ 95.2% |
| Taxes450/3 | €23,145 | €2,718 | €7,647 | €19,322 | €936 | ▼ 95.2% |
| Other amounts payable47/48 | €200,000 | €120,000 | €34,860 | €20,008 | €59,751 | ▲ 199% |
| Accrued charges and deferred income492/3 | - | €6,220 | €12,159 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €157,963 | €58,429 | €7,020 | €8,897 | -€84,476 | ▼ 1,049% |
| + Depreciation and write-downs630 | €64,908 | €66,678 | €33,248 | €73,907 | €108,315 | ▲ 46.6% |
| Operating cash flow (approximation) | €222,871 | €125,107 | €40,268 | €82,804 | €23,840 | ▼ 71.2% |
| Investment in fixed assets (approximation) | - | -€8,238 | -€4,108 | -€428,130 | -€4.2m | ▼ 890% |
| Change in cash | - | -€1,475 | -€12,407 | €108,974 | -€12,716 | ▼ 112% |
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 2027, expected by
2026
23-09
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
31-03
Financial
Weakest financial yearnet -€84,476
Net result drops to -€84,476, the lowest in the series.
31-03
Financial
Equity above €2mEq €4.5m ▲934%
Equity rises from €433,416 to €4.5m.
2025
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
11-04
KBO administration
Address struck
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Liquidity times 19current ratio 3.61
Current ratio from 0.19 to 3.61; short-term debt falls from €231,588 to €49,138.
2023
30-09
Financial
Equity above €500,000Eq €556,877 ▲11.7%
4 profitable years in a row build equity to €556,877.
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Highest result since 2018net €163,981 ▲232%
Net result €163,981, the highest in the series.
Show earlier events
30-09
Financial
Equity above €200,000Eq €340,485 ▲92.9%
2 profitable years in a row build equity to €340,485.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Back to profitnet €49,415
Net result €49,415 after 2 loss-making years.
30-09
Financial
Equity above €150,000Eq €176,504 ▲38.9%
Equity rises from €127,090 to €176,504.
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
26-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Leuven · 1 establishment unit since 2004
Ground area
2,532 m²
Building footprint
58 m²
Volume, LiDAR
303 m³
Parcel 24126C0073/00Y003, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
geen
since 20042.137.229.704
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24126C0073/00Y003 | Flanders | 2,532 m² | 1 · 58 m² | 6.3 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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Of 9,145 companies in sector 68201 we hold annual accounts for 6,776. 3,311 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
Founded14-04-2004
Fiscal year end31-03
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
73300Public relations and communication consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0864707983
Also
9925:BE0864707983
Registered
02-12-2024
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.