Equity
€874,525 from €1.5m in 2018
Equity fell by 41% in 7 years.
CASSO
Lifetime
20 annual accounts with figures on one time axis, 24 filings since 2002peak €187,096 (2011)
€52,373▲ 8.3%
lowest -€173,161 (2018)
-€65,029▼ €8,080
peak €1.5m (2018)
€874,525▼ 6.9%
€901,779▲ 1.9%
peak 1 FTE (2020)
-not published
Board3 names since 2019
2 directorsCarbonez Astrid and 1 other
Documentsfilings and deeds
31-08-202631 days late
2025abbreviated format
Loss of €65,029Cash from €5,246 to €8,003
Key points
from the 2025 annual accountsChecked score
87
Excellent
Financially stronger than 41% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.3%▲ +0.1 percentage points vs 01-2025
03-2025: 0.2%▼ -0.1 percentage points vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.3%▲ +0.1 percentage points vs 04-2025
06-2025: 0.2%▼ -0.1 percentage points vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%▲ +0.1 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.3%▼ -0.1 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.3 percentage points vs 07-2026highest value
09-2026: 0.2%▼ -0.4 percentage points vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Last filed accounts filed 31 days late; 1 of the last 3 accounts late
Liquidity: current ratio 11.48, cash €8,003
Loss of €65,029, the second in a row (financial year 2025)
lowers risk
Size: total assets €1.8m
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, micro). It does better than 64% of them on solvency, 54% on liquidity, 16% on profitability and 31% 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, 12,322 companies had the same profile as CASSO has now. Each dot stands for 31 companies, two years later.
90.3%
were still trading
8.6%
stopped another way
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CASSO itself: 0.2% 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 12,322 companies, not a prediction for CASSO. 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 €75,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 11.48 (12.3 in 2024), above the usual 1.5. Short-term debt is 1.9% and cash 0.5% of total assets. However, 50.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€65,029
raises risk · 2025 accounts filed 31 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
29 days late
2023
30 days late
2022
322 days late
2021
212 days late
2020
180 days late
2019
122 days late
← 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 132 days after 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 31 August (4 of the last 5 accounts filed within 181 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
3 directors reappointed
Marianne De Backer (managing director), Sophie Carbonez and Astrid Carbonez · Permanent representatives: Johan Jacobs, Kris Bollen, Sylvie van Mol, Greet Slegers, Koen Rymenants and Marchien de Ree · General meeting of 30-06-2026 · Gazette deed
Resignation: Carbonez Astrid (director)
Reappointment: Carbonez Astrid (director) · General meeting of 19-12-2023 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0475037704
Registered office moved from Mortsel to Bierbeek
New registered office: Oude baan 79, 3360 Bierbeek · Previous registered office: Mechelsesteenweg 139 bus 1, 2640 Mortsel · Permanent representatives: Johan Jacobs, Kris Bollen, Sylvie van Mol and Greet Slegers · Board meeting of 04-02-2022 · Gazette deed
Comparable companies
same main activity, similar in size and ageThese companies have the same main activity as CASSO: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €1.4m and €2.1m, founded between 1993 and 2005.
Official details
Source: KBO- Status
- Active since 19-06-2001Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 2 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2024
- Establishment unit
- 2.193.453.0803360 Bierbeek, since 14-06-2001
- Financial year end
- 31 December
- Peppol
- Reachable since 24-11-2023
Annual accounts 2025
- ≈ €68,000estimated
- €1.8m▼ 2.6%
- Employeeson 31-12-2025
- 1
- Filing
- Filed on 31-08-2026
Insights on CASSO
CASSO files the abbreviated format. That format states no turnover. The gross margin rose from -€9,772 in 2006 to €52,373 in 2025.
The balance sheet grew most in 2018 through fixed assets.
In March 2022, the Official Gazette published the appointment of Marianne De Backer 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 CASSO
- What is the company number of CASSO?
- The company number of CASSO is 0475.037.704. The VAT number is the same number with BE in front: BE 0475.037.704.
- Where is CASSO based?
- The registered office is at Oude Baan 79, 3360 Bierbeek.Company details
- What does CASSO do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of CASSO?
- CASSO is a public limited company (NV).
- When was CASSO founded?
- CASSO was founded on 19-06-2001.
- Is CASSO still active?
- Yes, CASSO is an active enterprise in the KBO register.
- How many employees does CASSO have?
- CASSO had an average of 1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does CASSO fall under?
- In its 2024 annual accounts, CASSO states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of CASSO?
- The turnover in financial year 2025 is ≈ €68,000. This figure is estimated from the gross margin of €52,373 and 45 comparable companies (NACE 682). It probably lies between €59,000 and €86,000.
- Is CASSO profitable?
- In financial year 2025, CASSO made a loss of €65,029.
- Where can I find the annual accounts of CASSO?
- CASSO filed 24 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CASSO due?
- CASSO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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