Chapter
ActiveFrom the official registers: KBO 1 annual account at the National Bank publications in the Belgian Official Gazette
Summary
Chapter has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,351 and a net result of €351. Its solvency ranks better than 26% of 17,107 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Overview
Official details
KBO- Status
- Active since 30-07-2024 Normal situation
- Legal form
- Private limited company
- Registered office
- Torhoutsesteenweg 52, 8210 Zedelgem
- Activity
- Real estate agency activities NACE 68310and 1 other
- Establishment unit
- 2.363.406.087 8210 Zedelgem, since 30-07-2024
- Financial year end
- 30 June
- Peppol
- Reachable since 21-10-2026
Who decides
- INFRACODirector · since 30-07-2024 · permanent representative FRANÇOIS,Dries Stefan Bruno
How it is doing
- Bankruptcy probabilitywithin 12 months
- 0.9%
- Gross margin
- €47,257
- Turnover
- ≈ €110,000
- estimated
- Profit
- €351
- Equity
- €3,351
- Total assets
- €85,086
Why 65raises riskFounded in 2024Liquidity: current ratio 1.21, cash €2,382Size: total assets €85,086lowers riskSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 25% on solvency, 10% on liquidity and 34% on profitability.
The bankruptcy probability was computed on 31-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (1)
Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 30-06-2025
- Filed on
- 24-12-2025
- Format
- micro format
- Reference
- 2025-00589598
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Peer companies
Historical observationOf the 2,135 companies that looked in July 2024 the way this one looks now, 5.2% went bankrupt within 24 months and 92.0% are still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 2,135 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.
| Line | 2025 |
|---|---|
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €45,000 |
| Other operating charges640/8 | €211 |
| Gross operating margin9900 | €47,257 |
| Operating profit (loss)9901 | €2,046 |
| Financial charges65/66B | €460 |
| Recurring financial charges65 | €460 |
| Profit (loss) for the period before taxes9903 | €1,587 |
| Income taxes67/77 | €1,235 |
| Profit (loss) for the period9904 | €351 |
| Profit (loss) for the period to be appropriated9905 | €351 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €85,086 | |
| Current assets29/58 | €85,086 | |
| Amounts receivable within one year40/41 | €80,880 | |
| Trade receivables40 | €77,880 | |
| Other amounts receivable41 | €3,000 | |
| Cash at bank and in hand54/58 | €2,382 | |
| Deferred charges and accrued income490/1 | €1,824 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €85,086 | |
| Equity10/15 | €3,351 | |
| Contributions10/11 | €3,000 | |
| Reserves13 | €351 | |
| Distributable reserves133 | €351 | |
| Amounts payable17/49 | €81,735 | |
| Amounts payable within one year42/48 | €70,468 | |
| Trade debts44 | €47,235 | |
| Suppliers440/4 | €47,235 | |
| Taxes, remuneration and social security45 | €2,951 | |
| Taxes450/3 | €2,951 | |
| Other amounts payable47/48 | €20,281 | |
| Accrued charges and deferred income492/3 | €11,267 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €351 |
| Operating cash flow (approximation) | €351 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 24-12-2025 | 2025-00589598 | NBB |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Permanent representatives 1
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| INFRACO |
|
How the board is organised
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking, natuurlijke of rechtspersonen al dan niet aandeelhouder”“College met voorzitter zonder doorslaggevende stem, gezamenlijk bestuur”“Zowel enige aandeelhouder als derde kunnen tot bestuurder benoemd worden, indien geen bestuurder benoemd heeft enige aandeelhouder van…”“Indien derde tot bestuurder benoemd zelfs in statuten en zonder beperking van duur kan te allen tijde ontslagen worden door enige…”1 more provision on this in the deed
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “In vormen vereist voor statutenwijziging, kan op elk moment worden ontbonden door beslissing algemene vergadering”1 more provision on this in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bij ontbinding om welke reden en op welk ogenblik ook, bestuurder(s) in functie aangewezen als vereffenaar(s) krachtens statuten indien geen…”
Articles of association, deed of 01-08-2024 (in Dutch)
Owners and capital
Capital and shareholders
- FRANÇOIS,Dries Stefan Bruno 1,000 shares (100%) · €3,000
- 01-08-2024 Incorporation · €3,000 · 1,000 shares
Shares according to the articles of association
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Helft overdrager helft kopers naar evenredigheid, elke overdracht onder levenden en overlijden”
- Share issue ruleHow and by whom new shares can be issued.
- “Nieuwe aandelen in geld, openstelling intekening”
Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
Articles of association, deed of 01-08-2024 (in Dutch)
Group and network
Connections & network
4 connected companiesHistory
Acts, filings and financial milestones
29-07
Gazette deed
Algemene Vergadering - BoekjaarAmendment of the articles · Power of attorney5 facts ▸
- General meeting, 30-06-2026
- Amendment of the articles, 15
- Amendment of the articles, 22
- Power of attorney
- Power of attorney, Filip Dewagtere
01-08
Gazette deed
IncorporationAppointment: INFRACO (director) · Permanent representative: FRANÇOIS,Dries Stefan Bruno · Founder12 facts ▸
- Incorporation, 26-07-2024
- Founder, FRANÇOIS,Dries Stefan Bruno
- Founding capital, €3,000
- Other provision, “statutenuittreksel, Uittreksel van de statuten” (deed in Dutch)
- Capital
- Registered office clause, “8210 Zedelgem Torhoutsesteenweg 52A” (deed in Dutch)
- Board rule, 1
- Director appointment, INFRACO (director (not named in the articles))
- Permanent representative, FRANÇOIS,Dries Stefan Bruno
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen die eruit voortvloeien en alle activiteiten ondernomen in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Other provision, “Digitaal aandelenregister eStox, bestuursorgaan verzoekt instrumenterende notaris niet om inschrijvingen en wijzigingen uit akte in elektronisch effectenregiste…” (deed in Dutch)
- Other provision, “UBO-register, door instrumenterende notaris gewezen op register met doel toereikende,accurate en actuele informatie over uiteindelijke begunstigden en sancties…” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Chapter
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, bij enkel besluit van het bestuursorgaan,administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren…”
deed of 01-08-2024 (in Dutch)
Meetings and financial year
- Financial yearThe twelve-month period the company draws up its annual accounts for.
- From 1 January to 31 December
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Tuesday of June at 18:00
deed of 29-07-2026 (in Dutch)
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31017E0604/00H000 | Flanders | 3,564 m² | 1 · 203 m² | 9.4 m · 2 |