Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Of this, €672,142 falls due within a year.
Less equity than 95% of companies in real estate. Sector median €86,489 · 19,823 companies.
In July 2024, 519 companies had the same profile as CHANGE has now. Each dot stands for 2 companies, two years later.
Another 1.5% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 519 companies, not a prediction for CHANGE. 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.
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.
| Company | ||||
|---|---|---|---|---|
| CHANGE Brussels | €497,003 | €36,712 | -36.4% | - |
| PMB CONCEPT Etterbeek | €460,547 | €37,111 | 99.2% | - |
| RETAIL INVEST COMPANY Uccle | €528,549 | €30,209 | 62.6% | - |
| IMMO CLAIRIERE Brussels | €482,496 | €43,221 | -6.9% | - |
| IMDEMCO Zandhoven | €476,109 | €34,857 | -19.6% | - |
| BUREAU IMMOBILIER ARDENNAIS Manhay | €525,205 | €32,207 | 95.2% | - |
| IMMO DESCHEEMAECKER Ostend | €514,685 | €33,843 | 88.5% | - |
These companies have the same main activity as CHANGE: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €461,000 and €529,000, founded between 1997 and 2003.
CHANGE files the micro format. That format states no turnover. The gross margin rose from €14,488 in 2006 to €36,712 in 2025.
The balance sheet grew most from 2018 to 2019 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.
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