CITYRES
ActiveSummary
CITYRES has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €848k and a net result of €290k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 47% of 9716 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
76
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability81▲+1
Solvency53▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 7.28 against 13.67 in 2023; short-term debt: 2.8% and cash: 1.9% of total assets), but 72.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers 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
Sector 68
lower
← 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 2024Solvency, return and age of the figures
Solvency
27.7%
Return on assets
9.5%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €848k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-06-2025, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
on the day
2022
21 d early
2021
27 d early
2020
33 d early
2019
36 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€848k▲ 52.0%
2023 · €558k
2018: €170k
2019: €-23k
2020: €-156k
2021: €-287k
2022: €269k
2023: €558k
2018 → 2024
Total assets
€3.06M▼ 1.3%
2023 · €3.10M
2018: €3.00M
2019: €2.96M
2020: €2.94M
2021: €2.79M
2022: €2.73M
2023: €3.10M
2018 → 2024
Net result
€290k▲ 0.5%
2023 · €289k
2018: €-203k
2019: €-192k
2020: €-133k
2021: €-131k
2022: €556k
2023: €289k
2018 → 2024
Working capital
€544k▲ 0.9%
2023 · €539k
2018: €-2.75M
2019: €-2.91M
2020: €-2.98M
2021: €-3.00M
2022: €-2.36M
2023: €539k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-156k-€-287k▼ 83.8%€269k€558k▲ 107%€848k▲ 52.0%
Operating result€-132k-€-130k▲ 2.1%€557k€290k▼ 47.9%€292k▲ 0.6%
Net result€-133k-€-131k▲ 1.9%€556k€289k▼ 48.1%€290k▲ 0.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 1% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.06M
Fixed assets
€2.43M ▼ 3.6%
Current assets
€630k ▲ 8.4%
Equity and liabilities €3.06M
Equity
€848k ▲ 52.0%
Debt
€2.21M ▼ 13.0%
Debt's share of the balance-sheet total falls from 82.0% to 72.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€432k▲
2023 · €413k
Cash flow
€430k▲
2023 · €411k
Current ratio
7.28▼
2023 · 13.67
Debt to equity
2.61▼
2023 · 4.56
ROE
34.2%▼
2023 · 51.8%
ROA
9.5%▲
2023 · 9.3%
Interest coverage
1396.27▲
2023 · 271.66
Debt ≤ 1 year
€87k▲
2023 · €43k
Debt > 1 year
€2.13M▼
2023 · €2.50M
Income taxes
€2k
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 · 2024 against 2023 · 44 lines
Balance sheet
Code20232024
Assets
Total assets20/58€3.10M€3.06M▼
Fixed assets21/28€2.52M€2.43M▼
Tangible fixed assets22/27€2.52M€2.43M▼
Land and buildings22€2.51M€2.42M▼
Furniture and vehicles24€6k€6k▼
Current assets29/58€581k€630k▲
Amounts receivable within one year40/41€461k€474k▲
Trade receivables40€340k€474k▲
Other amounts receivable41€121k-
Current investments50/53-€63k
Cash at bank and in hand54/58€87k€57k▼
Deferred charges and accrued income490/1€34k€36k▲
Equity and liabilities
Total equity and liabilities10/49€3.10M€3.06M▼
Equity10/15€558k€848k▲
Contributions10/11€775k€775k=
Reserves13€81k€81k=
Tax-exempt reserves132€3k€3k=
Distributable reserves133€79k€79k=
Profit (loss) carried forward14€-299k€-8k▲
Amounts payable17/49€2.54M€2.21M▼
Amounts payable after more than one year17€2.50M€2.13M▼
Financial debts170/4€2.50M€2.13M▼
Amounts payable within one year42/48€43k€87k▲
Trade debts44€5k€15k▲
Suppliers440/4€5k€15k▲
Advances received on contracts in progress46€10k-
Taxes, remuneration and social security45€27k€72k▲
Taxes450/3€27k€72k▲
Accrued charges and deferred income492/3€41-
Income statement
Code20232024
Non-recurring operating income76A€9-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€122k€139k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€416k€435k▲
Operating profit (loss)9901€290k€292k▲
Financial income75/76B-€91
Recurring financial income75-€91
Financial charges65/66B€2k€309▼
Recurring financial charges65€2k€309▼
Profit (loss) for the period before taxes9903€289k€292k▲
Income taxes67/77-€2k
Profit (loss) for the period9904€289k€290k▲
Profit (loss) for the period to be appropriated9905€289k€290k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-299k€-8k▲
Profit (loss) brought forward from the previous period14P€-587k€-299k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
07-08
State Gazette act
General meeting · Board meeting
Director reappointment · Permanent representative
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity times 318current ratio 13.67
Current ratio from 0.04 to 13.67; short-term debt falls from €2.47M to €43k.
31-12
Financial
Equity above €500kEq €558k ▲107%
2 profitable years in a row build equity to €558k.
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €556k
Net result €556k after 4 loss-making years.
31-12
Financial
Equity above €200kEq €269k
Equity rises from €-287k to €269k.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Show earlier events
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Gent · 1 establishment unit since 1989
Ground area
818 m²
Building footprint
250 m²
Volume, LiDAR
3,310 m³
Parcel 44815F2069/00F000, Flanders · tallest building 19.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Coupure 170, 9000 Gent
since 19892.220.694.244
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44815F2069/00F000 | Flanders | 818 m² | 1 · 250 m² | 19.4 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Structure & network
Connections & network
1 connected companyLinked via shared directors
Shared director
→
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 9,140 companies in sector 68201 we hold annual accounts for 6,769. 4,918 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-11-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.