CHAMPENAC
ActiveSummary
CHAMPENAC has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €440,040 and a net result of -€17,195. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 87% of 14284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2023
Profitability15▼-58
Solvency100▲+17
Growth52▼-6
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 4.18 against 1.26 in 2023; short-term debt: 16% and cash: 19.7% of total assets), and 17% of the assets are financed with debt.
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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 →
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 2025Solvency, return and age of the figures
Solvency
83%
Return on assets
-3.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-09-2026, 53 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
53 d late
2024
331 d late
2023
12 d late
2022
28 d late
2021
on the day
2020
262 d late
2019
628 d late
← 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 188 days after 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.
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€17,195
2023 · €7,515
Working capital
€270,206▲ 1,098%
2023 · €22,550
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
Line20202021202220232025
Operating result-€4,218▼ 94.9%-€10,330▼ 145%-€3,230▲ 68.7%€251-€18,526-
Net result€3,451within the sector's middle half▲ 275%-€20,112below the sector's middle half€2,946within the sector's middle half€7,515within the sector's middle half▲ 155%-€17,195below the sector's middle half-
Equity€133,020within the sector's middle half▲ 2.7%€112,908within the sector's middle half▼ 15.1%€115,854within the sector's middle half▲ 2.6%€123,369within the sector's middle half▲ 6.5%€440,040above the sector's middle half-
Total assets€207,470below the sector's middle half▼ 11.8%€215,177below the sector's middle half▲ 3.7%€210,855below the sector's middle half▼ 2.0%€211,293below the sector's middle half▲ 0.2%€529,890within the sector's middle half-
Debt€74,450▲ 12.1%€102,269▲ 37.4%€95,001▼ 7.1%€87,924▼ 7.4%€89,850-
Working capital€12,631within the sector's middle half▼ 69.9%-€958within the sector's middle half€8,512within the sector's middle half€22,550within the sector's middle half▲ 165%€270,206above the sector's middle half-
Solvency64.1%above the sector's middle half▲ 9.1pp52.5%within the sector's middle half▼ 11.6pp54.9%within the sector's middle half▲ 2.5pp58.4%within the sector's middle half▲ 3.4pp83.0%above the sector's middle half-
Current ratio1.17within the sector's middle half▼ 0.460.99within the sector's middle half▼ 0.181.09within the sector's middle half▲ 0.101.26within the sector's middle half▲ 0.174.18above the sector's middle half-
Return on assets (ROA)1.7%within the sector's middle half▲ 1.3pp-9.3%below the sector's middle half▼ 11.0pp1.4%within the sector's middle half▲ 10.7pp3.6%within the sector's middle half▲ 2.2pp-3.2%below the sector's middle half-
Staff (FTE)0.6-
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.
Result per fiscal year
Operating resultNet result
The operating result is -€18,526 in 2025, compared with €251 in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €529,890
Fixed assets
€174,802 ▲ 73.4%
Current assets
€355,088 ▲ 221%
Equity and liabilities €529,890
Equity
€440,040 ▲ 257%
Debt
€89,850 ▲ 2.2%
Debt's share of the balance-sheet total falls from 41.6% to 17.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€5,593▼
2023 · €6,775
Cash flow
-€4,262▼
2023 · €14,038
Debt to equity
0.20▼
2023 · 0.71
ROE
-3.9%▼
2023 · 6.1%
Interest coverage
-39.67▼
2023 · 80.39
Debt ≤ 1 year
€84,882▼
2023 · €87,924
Income taxes
€8,709
Staff costs
€26,737
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 12,321 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 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €26,737 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,579 | €6,523 | €6,523 | €6,523 | €12,933 | - |
| Other operating charges640/8 | - | - | €2,407 | €2,624 | €1,156 | - |
| Gross operating margin9900 | -€34,735 | -€35 | €5,700 | €9,399 | €22,300 | - |
| Operating profit (loss)9901 | -€4,218 | -€10,330 | -€3,230 | €251 | -€18,526 | - |
| Financial income75/76B | - | - | €6,339 | €7,348 | €10,181 | - |
| Recurring financial income75 | €8,220 | €9,050 | €6,339 | €7,348 | €10,181 | - |
| Financial charges65/66B | - | - | €163 | €84 | €141 | - |
| Recurring financial charges65 | €551 | €190 | €163 | €84 | €141 | - |
| Profit (loss) for the period before taxes9903 | €3,451 | -€1,469 | €2,946 | €7,515 | -€8,486 | - |
| Income taxes67/77 | - | €18,643 | - | - | €8,709 | - |
| Profit (loss) for the period9904 | €3,451 | -€20,112 | €2,946 | €7,515 | -€17,195 | - |
| Profit (loss) for the period to be appropriated9905 | €3,451 | -€20,112 | €2,946 | €7,515 | -€17,195 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €207,470 | €215,177 | €210,855 | €211,293 | €529,890 | - |
| Fixed assets21/28 | €120,389 | €113,866 | €107,342 | €100,819 | €174,802 | - |
| Tangible fixed assets22/27 | €120,389 | €113,866 | €107,342 | €100,819 | €174,802 | - |
| Furniture and vehicles24 | - | - | - | - | €12,626 | - |
| Other tangible fixed assets26 | - | - | €107,342 | €100,819 | €162,176 | - |
| Current assets29/58 | €87,081 | €101,311 | €103,513 | €110,474 | €355,088 | - |
| Amounts receivable within one year40/41 | €87,081 | €101,311 | €103,495 | €110,466 | €249,375 | - |
| Trade receivables40 | - | - | - | - | €32,417 | - |
| Other amounts receivable41 | - | - | €103,495 | €110,466 | €216,958 | - |
| Cash at bank and in hand54/58 | - | - | €17 | €8 | €104,454 | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,259 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €207,470 | €215,177 | €210,855 | €211,293 | €529,890 | - |
| Equity10/15 | €133,020 | €112,908 | €115,854 | €123,369 | €440,040 | - |
| Contributions10/11 | €38,176 | €38,176 | €38,176 | €38,176 | €41,994 | - |
| Capital10 | - | - | €38,176 | €38,176 | - | - |
| Issued capital100 | - | - | €38,176 | €38,176 | - | - |
| Reserves13 | €94,844 | €74,732 | €77,679 | €85,194 | €398,046 | - |
| Non-distributable reserves130/1 | - | - | €3,818 | €3,818 | - | - |
| Legal reserve130 | - | - | €3,818 | €3,818 | - | - |
| Distributable reserves133 | - | - | €73,861 | €81,376 | €398,046 | - |
| Amounts payable17/49 | €74,450 | €102,269 | €95,001 | €87,924 | €89,850 | - |
| Amounts payable within one year42/48 | €74,450 | €102,269 | €95,001 | €87,924 | €84,882 | - |
| Trade debts44 | €73,905 | €82,675 | €83,858 | €85,975 | €26,173 | - |
| Suppliers440/4 | - | - | €83,858 | €85,975 | €26,173 | - |
| Taxes, remuneration and social security45 | - | - | €11,143 | €1,948 | €58,709 | - |
| Taxes450/3 | - | - | €11,143 | €1,948 | €58,709 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €4,968 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,451 | -€20,112 | €2,946 | €7,515 | -€17,195 | - |
| + Depreciation and write-downs630 | €6,579 | €6,523 | €6,523 | €6,523 | €12,933 | - |
| Operating cash flow (approximation) | €10,030 | -€13,589 | €9,470 | €14,038 | -€4,262 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | - | - | -€9 | - | - |
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
22-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 53 days late
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 331 days late
2025
31-12
Financial
Liquidity triplescurrent ratio 4.18
Current ratio from 1.26 to 4.18; short-term debt falls from €87,924 to €84,882.
31-12
Financial
Equity above €200,000Eq €440,040 ▲257%
Equity rises from €123,369 to €440,040.
2024
12-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 12 days late
2023
30-06
Financial
Highest result since 2019net €7,515 ▲155%
Operating result €251, net result €7,515, both a record.
28-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
30-06
Financial
Back to profitnet €2,946
Net result €2,946 after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
20-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 262 days late
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 628 days late
30-06
Financial
Weakest financial yearnet -€20,112
Net result drops to -€20,112, the lowest in the series; recovery starts the following year.
Show earlier events
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
14-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Viroinval · 1 establishment unit since 2000
Ground area
983 m²
Building footprint
197 m²
Volume, LiDAR
1,616 m³
2 parcels, Brussels, Wallonia · tallest building 15.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Eendrachtstraat 25, 1050 Elsene
since 20002.044.135.141
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0351/00A012 | Brussels | 904 m² | 1 · 138 m² | 15.8 m · 4 fl. |
| 93047A0432/00L000 | Wallonia | 79 m² | 1 · 59 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
HERLITZ
BE 0464.039.486
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OPTIMAZED
BE 0834.506.044
Wingene · Eq €439,697
EMVI-Invest
BE 0869.859.178
Dendermonde · Eq €439,309
MARKA
BE 0435.586.913
Ternat · Eq €440,953
ZONINVEST
BE 0456.486.057
Zulte · Eq €441,387
Of 9,144 companies in sector 68201 we hold annual accounts for 6,775. 5,042 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
Founded19-04-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
77110Renting and leasing of cars and light motor vehicles
77340Rental and leasing activities
77399Renting and leasing of other machinery, equipment and tangible goods
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437334990
Also
9925:BE0437334990
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.