Losses
-€75,495 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
CHAGAEL
Lifetime
8 annual accounts with figures on one time axispeak €174,619 (2019)
€76,749▲ 197%
lowest -€38,680 (2024)
-€36,815▲ €1,865
peak €208,884 (2023)
€133,389▼ 21.6%
€2.1m▲ 24.4%
Board1 name since 2021
1 directorHENKENS Siegfried
Documentsfilings and deeds
29-06-202632 days before the deadline
2025micro format
Gross margin from €25,851 to €76,749Loss of €36,815Equity from €170,204 to €133,389Debts from €1.7m to €2.1mInvestments €707,525
Key points
from the 2025 annual accountsDebts
€2.1m 94% of the balance sheet
Financial debts 41%Suppliers 1%Taxes and wages 1%Other 58%
Of this, €1.2m falls due within a year.
Investments
€707,525 16.5 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 131.4% higher than in 2024.
Liquidity
0.84 was 1.53 in 2024
Short-term debts rose from €867,907 to €1.2m.
Filings
8 annual accounts since 2018
The last five annual accounts were filed 11 to 58 days before the end of the period.
Position in the sector
-€36,815
Lower net result than 90% of companies in real estate. Sector median €5,986 · 17,185 companies.
Checked score
87
Excellent
Financially stronger than 19% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.2 percentage points vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026
08-2026: 0.5%▲ +0.1 percentage points vs 07-2026
09-2026: 0.7%▲ +0.2 percentage points vs 08-2026highest value
10-2026: 0.1%▼ -0.6 percentage points vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Equity €133,389 (6.1% of total assets)
lowers risk
Size: total assets €2.2m
Figures for financial year 2025 (filed on 29-06-2026)
Sector: Real estate activities (NACE 68)
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, small). It does better than 24% of them on solvency, 17% on liquidity, 18% on profitability and 16% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 819 companies had the same profile as CHAGAEL has now. Each dot stands for 3 companies, two years later.
94.7%
were still trading
3.2%
stopped another way
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CHAGAEL itself is lower: 0.1% within 12 months. It rests on far more data about CHAGAEL than the profile alone.
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 819 companies, not a prediction for CHAGAEL. 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 €11,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.84 (1.53 in 2024), below 1. Short-term debt is 55.5% and cash 0.8% of total assets. 93.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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 -€36,815
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 29-06-2026, 32 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
32 days early
2024
58 days early
2023
50 days early
2022
48 days early
2021
11 days early
2020
15 days early
2019
28 days early
← 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 35 days before 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 13 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Environmental permit granted
Gevel-, dak-, instandhoudings- en renovatiewerken binnen een gebouw, zonder volume- of oppervlaktewijziging, Nieuwbouw van bijgebouwen en niet overdekte lage constructie, Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen and 2 more · Lanaken
Environmental permit granted
Bomen vellen die geen deel uitmaken van een bos en/of bodemreliëf wijzigen, Bouwen of herbouwen, Nieuwbouw van bijgebouwen en niet overdekte lage constructie · Lanaken
Resignation: HENKENS Siegfried (manager)
Reappointment: HENKENS Siegfried (director) · General meeting of 07-12-2023 · Gazette deed
Environmental permit granted
Verbouwen en/of uitbreiden met functiewijziging, maar zonder wijziging van het aantal woongelegenheden · Aarschot
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CHAGAEL Tessenderlo-Ham | €2.2m | €76,749 | 6.1% | - |
| Bevor Tessenderlo-Ham | €2.0m | €92,238 | -1.8% | - |
| TROVATIMMO Saint-Josse-ten-Noode | €2.5m | €76,049 | 9.5% | - |
| Forti-7 Anderlecht | €2.2m | €63,022 | 46.8% | - |
| ELYANA Blankenberge | €2.0m | €95,532 | -8.6% | - |
| White Star Project Braine-le-Château | €2.2m | €100,146 | -7.7% | - |
| Immo Rhododendrons Antwerp | €1.9m | €66,196 | 65.0% | - |
These companies have the same main activity as CHAGAEL: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €1.9m and €2.5m, founded between 2017 and 2018.
Official details
Source: KBO- Status
- Active since 17-08-2017Normal situation
- Activity
- Buying and selling of own real estateNACE 68110and 4 others
- Establishment unit
- 2.266.891.1863980 Tessenderlo-Ham, since 17-08-2017
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- ≈ €200,000estimated
- €2.2m▲ 20.1%
- Filing
- Filed on 29-06-2026, 32 days before the end of the filing period
Insights on CHAGAEL
CHAGAEL files the micro format. That format states no turnover. The gross margin rose from €25,056 in 2018 to €76,749 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
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 CHAGAEL
- What is the company number of CHAGAEL?
- The company number of CHAGAEL is 0679.864.585. The VAT number is the same number with BE in front: BE 0679.864.585.
- Where is CHAGAEL based?
- The registered office is at Geelsebaan 6, 3980 Tessenderlo-Ham.Company details
- What does CHAGAEL do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of CHAGAEL?
- CHAGAEL is a private limited company (BV).
- When was CHAGAEL founded?
- CHAGAEL was founded on 17-08-2017.
- Is CHAGAEL still active?
- Yes, CHAGAEL is an active enterprise in the KBO register.
- What is the turnover of CHAGAEL?
- The turnover in financial year 2025 is ≈ €200,000. This figure is estimated from the gross margin of €76,749 and 48 comparable companies (NACE 681). It probably lies between €100,000 and €470,000.Financials
- Is CHAGAEL profitable?
- In financial year 2025, CHAGAEL made a loss of €36,815.
- Where can I find the annual accounts of CHAGAEL?
- CHAGAEL filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CHAGAEL due?
- CHAGAEL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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