CCN DEVELOPMENT
ActiveSummary
CCN DEVELOPMENT has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €92.50M and a net result of €-1.55M. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 75% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability34▲+6
Solvency97▼-3
Growth55=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity short (current ratio 0.66 against 13.37 in 2024; short-term debt: 22.6% and cash: 0.6% of total assets), and 28.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
71.6%
Return on assets
-1.2%
Age of the figures
9 mo
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
19202122232425
2019 to 2025 · latest year €-1.55M
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 01-06-2026, 60 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
60 d early
2024
65 d early
2023
77 d early
2022
80 d early
2021
76 d early
2020
66 d early
2019
70 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€511k▼ 30.1%
2021 · €732k
2019: €66klowest value
2020: €529k▲ +700% vs 2019
2021: €732k▲ +38.3% vs 2020highest value
2023: €511k
2019 → 2023
EBIT margin
-277.3%▲ 218.5pp
2021 · -495.9%
2019: -1498.5%lowest value
2020: -391.0%▲ +73.9% vs 2019
2021: -495.9%▼ -26.8% vs 2020
2023: -277.3%highest value
2019 → 2023
Net result
€-1.55M▲ 68.7%
2024 · €-4.96M
2019: €-994khighest in 7 years
2020: €-2.15M▼ -116% vs 2019
2021: €-3.81M▼ -77.1% vs 2020
2022: €-1.98M▲ +47.9% vs 2021
2023: €-2.29M▼ -15.6% vs 2022
2024: €-4.96M▼ -116% vs 2023lowest in 7 years
2025: €-1.55M▲ +68.7% vs 2024
2019 → 2025
Working capital
€-9.82M
2024 · €16.15M
2019: €-1.13M
2020: €-7.78M▼ -587% vs 2019
2021: €-15.17M▼ -94.9% vs 2020
2022: €-13.78M▲ +9.2% vs 2021
2023: €-25.41M▼ -84.5% vs 2022lowest in 7 years
2024: €16.15M▲ +164% vs 2023highest in 7 years
2025: €-9.82M▼ -161% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€732k-€511k
2021: €732k
2023: €511k
Equity€103.28M-€101.29M▼ 1.9%€99.00M▼ 2.3%€94.05M▼ 5.0%€92.50M▼ 1.6%
2021: €103.28Mhighest in 5 years
2022: €101.29M▼ -1.9% vs 2021
2023: €99.00M▼ -2.3% vs 2022
2024: €94.05M▼ -5.0% vs 2023
2025: €92.50M▼ -1.6% vs 2024lowest in 5 years
Operating result€-3.63M-€-1.45M▲ 60.0%€-1.42M▲ 2.2%€-1.30M▲ 8.4%€-581k▲ 55.3%
2021: €-3.63Mlowest in 5 years
2022: €-1.45M▲ +60.0% vs 2021
2023: €-1.42M▲ +2.2% vs 2022
2024: €-1.30M▲ +8.4% vs 2023
2025: €-581k▲ +55.3% vs 2024highest in 5 years
Net result€-3.81M-€-1.98M▲ 47.9%€-2.29M▼ 15.6%€-4.96M▼ 116%€-1.55M▲ 68.7%
2021: €-3.81M
2022: €-1.98M▲ +47.9% vs 2021
2023: €-2.29M▼ -15.6% vs 2022
2024: €-4.96M▼ -116% vs 2023lowest in 5 years
2025: €-1.55M▲ +68.7% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €581k in 2025 against €1.30M in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €129.11M
Fixed assets
€109.73M ▲ 1.4%
Current assets
€19.37M ▲ 11.0%
Equity and liabilities €129.11M
Equity
€92.50M ▼ 1.6%
Debt
€36.61M ▲ 15.9%
Debt's share of the balance-sheet total rises from 25.1% to 28.4%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.66▼
2024 · 13.37
Quick ratio
0.12▼
2024 · 1.73
Debt to equity
0.40▲
2024 · 0.34
ROE
-1.7%▲
2024 · -5.3%
ROA
-1.2%▲
2024 · -3.9%
Debt ≤ 1 year
€29.19M▲
2024 · €1.31M
Debt > 1 year
€7.41M▼
2024 · €30.27M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€125.62M€129.11M▲
Fixed assets21/28€108.16M€109.73M▲
Financial fixed assets28€108.16M€109.73M▲
Current assets29/58€17.46M€19.37M▲
Stocks and contracts in progress3€15.20M€15.95M▲
Stocks30/36€15.20M€15.95M▲
Amounts receivable within one year40/41€1.75M€2.65M▲
Trade receivables40€1.61M€2.49M▲
Other amounts receivable41€138k€161k▲
Cash at bank and in hand54/58€513k€774k▲
Equity and liabilities
Total equity and liabilities10/49€125.62M€129.11M▲
Equity10/15€94.05M€92.50M▼
Contributions10/11€110.23M€110.23M=
Capital10€110.23M€110.23M=
Issued capital100€110.23M€110.23M=
Profit (loss) carried forward14€-16.18M€-17.73M▼
Amounts payable17/49€31.58M€36.61M▲
Amounts payable after more than one year17€30.27M€7.41M▼
Financial debts170/4€30.27M€7.41M▼
Amounts payable within one year42/48€1.31M€29.19M▲
Current portion of amounts payable after more than one year42-€28.21M
Financial debts43€0-
Other loans439€0-
Trade debts44€853k€919k▲
Suppliers440/4€853k€919k▲
Taxes, remuneration and social security45€453k€68k▼
Taxes450/3€453k€68k▼
Accrued charges and deferred income492/3€6k€3k▼
Income statement
Code20242025
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€234k
Other operating charges640/8€919k€1.36M▲
Gross operating margin9900€-380k€1.02M▲
Operating profit (loss)9901€-1.30M€-581k▲
Financial income75/76B€296k€207k▼
Recurring financial income75€296k€207k▼
Financial charges65/66B€3.95M€1.18M▼
Recurring financial charges65€2.14M€1.18M▼
Non-recurring financial charges66B€1.82M-
Profit (loss) for the period before taxes9903€-4.96M€-1.55M▲
Profit (loss) for the period9904€-4.96M€-1.55M▲
Profit (loss) for the period to be appropriated9905€-4.96M€-1.55M▲
Appropriation of the result
Profit (loss) to be appropriated9906€-16.18M€-17.73M▼
Profit (loss) brought forward from the previous period14P€-11.22M€-16.18M▼
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €3.69M | €11.02M | €1.87M | - | - | - |
| Turnover70 | €732k | - | €511k | - | - | - |
| Other operating income74 | €2.96M | €10.54M | €1.36M | - | - | - |
| Non-recurring operating income76A | - | €485k | - | - | - | - |
| Operating charges60/66A | €7.32M | €12.47M | €3.29M | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | €0 | - | - | - |
| Purchases600/8 | - | €11.95M | €1.42M | - | - | - |
| Change in stocks: decrease (increase)609 | - | €-11.95M | €-1.42M | - | - | - |
| Services and other goods61 | €1.97M | €584k | €923k | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €234k | - |
| Other operating charges640/8 | €5.35M | €11.89M | €2.36M | €919k | €1.36M | ▲ 48.5% |
| Gross operating margin9900 | - | - | - | €-380k | €1.02M | ▲ 368% |
| Operating profit (loss)9901 | €-3.63M | €-1.45M | €-1.42M | €-1.30M | €-581k | ▲ 55.3% |
| Financial income75/76B | €2 | €4k | €632k | €296k | €207k | ▼ 30.1% |
| Recurring financial income75 | €2 | €4k | €632k | €296k | €207k | ▼ 30.1% |
| Income from financial fixed assets750 | - | €4k | €632k | - | - | - |
| Other financial income752/9 | €2 | - | - | - | - | - |
| Financial charges65/66B | €178k | €536k | €1.51M | €3.95M | €1.18M | ▼ 70.2% |
| Recurring financial charges65 | €178k | €536k | €1.51M | €2.14M | €1.18M | ▼ 44.9% |
| Debt charges650 | €171k | €348k | €1.20M | - | - | - |
| Other financial charges652/9 | €7k | €188k | €305k | - | - | - |
| Non-recurring financial charges66B | - | - | - | €1.82M | - | - |
| Profit (loss) for the period before taxes9903 | €-3.81M | €-1.98M | €-2.29M | €-4.96M | €-1.55M | ▲ 68.7% |
| Profit (loss) for the period9904 | €-3.81M | €-1.98M | €-2.29M | €-4.96M | €-1.55M | ▲ 68.7% |
| Profit (loss) for the period to be appropriated9905 | €-3.81M | €-1.98M | €-2.29M | €-4.96M | €-1.55M | ▲ 68.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €124.31M | €133.54M | €140.89M | €125.62M | €129.11M | ▲ 2.8% |
| Fixed assets21/28 | €118.65M | €115.07M | €124.41M | €108.16M | €109.73M | ▲ 1.4% |
| Tangible fixed assets22/27 | €118.65M | - | - | - | - | - |
| Land and buildings22 | €110.29M | - | - | - | - | - |
| Assets under construction and advance payments27 | €8.36M | - | - | - | - | - |
| Financial fixed assets28 | €1 | €115.07M | €124.41M | €108.16M | €109.73M | ▲ 1.4% |
| Affiliated companies280/1 | €1 | €115.07M | €124.41M | - | - | - |
| Participating interests280 | €1 | €105.13M | €105.13M | - | - | - |
| Amounts receivable281 | - | €9.94M | €19.28M | - | - | - |
| Current assets29/58 | €5.66M | €18.47M | €16.48M | €17.46M | €19.37M | ▲ 11.0% |
| Stocks and contracts in progress3 | - | €11.95M | €13.37M | €15.20M | €15.95M | ▲ 4.9% |
| Stocks30/36 | - | €11.95M | €13.37M | €15.20M | €15.95M | ▲ 4.9% |
| Property held for sale35 | - | €11.95M | €13.37M | - | - | - |
| Amounts receivable within one year40/41 | €2.06M | €2.12M | €2.20M | €1.75M | €2.65M | ▲ 51.6% |
| Trade receivables40 | €2.06M | €2.12M | €2.13M | €1.61M | €2.49M | ▲ 54.6% |
| Other amounts receivable41 | - | - | €73k | €138k | €161k | ▲ 16.5% |
| Cash at bank and in hand54/58 | €3.60M | €3.26M | €902k | €513k | €774k | ▲ 50.9% |
| Deferred charges and accrued income490/1 | - | €1.14M | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €124.31M | €133.54M | €140.89M | €125.62M | €129.11M | ▲ 2.8% |
| Equity10/15 | €103.28M | €101.29M | €99.00M | €94.05M | €92.50M | ▼ 1.6% |
| Contributions10/11 | €110.23M | €110.23M | €110.23M | €110.23M | €110.23M | = |
| Capital10 | €110.23M | €110.23M | €110.23M | €110.23M | €110.23M | = |
| Issued capital100 | €110.23M | €110.23M | €110.23M | €110.23M | €110.23M | = |
| Profit (loss) carried forward14 | €-6.95M | €-8.93M | €-11.22M | €-16.18M | €-17.73M | ▼ 9.6% |
| Amounts payable17/49 | €21.03M | €32.25M | €41.89M | €31.58M | €36.61M | ▲ 15.9% |
| Amounts payable after more than one year17 | - | - | - | €30.27M | €7.41M | ▼ 75.5% |
| Financial debts170/4 | - | - | - | €30.27M | €7.41M | ▼ 75.5% |
| Amounts payable within one year42/48 | €20.83M | €32.25M | €41.89M | €1.31M | €29.19M | ▲ 2,136% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €28.21M | - |
| Financial debts43 | €12.85M | €20.44M | €40.10M | €0 | - | - |
| Other loans439 | €12.85M | €20.44M | €40.10M | €0 | - | - |
| Trade debts44 | €1.70M | €1.31M | €1.33M | €853k | €919k | ▲ 7.7% |
| Suppliers440/4 | €1.70M | €1.31M | €1.33M | €853k | €919k | ▲ 7.7% |
| Taxes, remuneration and social security45 | €6.28M | €10.49M | €453k | €453k | €68k | ▼ 85.0% |
| Taxes450/3 | €6.28M | €10.49M | €453k | €453k | €68k | ▼ 85.0% |
| Accrued charges and deferred income492/3 | €200k | - | - | €6k | €3k | ▼ 37.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3.81M | €-1.98M | €-2.29M | €-4.96M | €-1.55M | ▲ 68.7% |
| Operating cash flow (approximation) | €-3.81M | €-1.98M | €-2.29M | €-4.96M | €-1.55M | ▲ 68.7% |
| Investment in fixed assets (approximation) | - | €3.58M | €-9.34M | €16.25M | €-1.57M | ▼ 110% |
| Change in cash | - | €-340k | €-2.36M | €-389k | €261k | ▲ 167% |
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
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-4.96M
Net result drops to €-4.96M, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 34current ratio 13.37
Current ratio from 0.39 to 13.37; short-term debt falls from €41.89M to €1.31M.
15-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
12-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
16-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
23-11
State Gazette act
General meeting · Member admission
Capital increase · Capital
26-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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, Brussel · 1 establishment unit since 2019
Ground area
3,149 m²
Building footprint
3,026 m²
Volume, LiDAR
70,303 m³
Parcel 21805E0482/00C000, Brussels · tallest building 31.9 m, ±9 floors. Linked by address, not a title deed.
101
companies at this address
See who is registered here
1 establishment unit
CCN DEVELOPMENT
since 20192.289.934.626
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0482/00C000 | Brussels | 3,149 m² | 1 · 3,026 m² | 31.9 m · 9 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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Identification & contact
Identification
Legal formPublic limited company
Founded28-05-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
Scores and ratios are computed by Checked and are not a credit decision.