Active BE 0439.980.518Public limited company

CLB

Elizabetlaan 103 ·8300 Knokke-Heist, Belgium· 36 yrs active

Sector: Real estate agency activities (68310)

Conclusion Checked

CLB has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €41k and a net result of €-7k. Equity is shrinking by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 89% of 547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€41k
Net result	€-7k
Better than sector	89%
Active	36 yrs

Financial profile 5 of 5 axes measured · computed by Checked

42 / 100

Fragile profile, watch profitability in particular.

All 5 axes are computed from data Checked has read.

Health 12

Profitability 0

Solvency 67

Growth 32

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1990, 36 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

12 / 100 Critical

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

No credit

negative equity or figures too weak

Score history

63 2023

22 2024

12 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.13 (< 1.0) -10

Quick ratio Quick ratio 0.13 (< 0.6) -5

Leverage Debt/equity 0.22 (< 1.0) +10

Profitability Negatieve ROE -17% -10

EBITDA margin Negatieve EBITDA-marge -10

Interest coverage Interest coverage -86.1× (< 1.5×) -10

Profit trend Net profit down YoY -3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview36 NBB filings

Annual accounts filed on 15-07-2026 with the NBB · fiscal year 2025 · abbreviated schema

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~10.9%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	82.0%	16.2%	better than 89% of 547 sector peers
Net result	€-7k	€6k	better than 35% of 547 sector peers
Equity	€41k	€167k	better than 30% of 547 sector peers
Gross operating margin	€-3k	€77k	better than 19% of 546 sector peers
Total assets	€50k	€1.39M	better than 5% of 547 sector peers

Revenue

€7k

- 23-25

EBITDA

€-5k

-253.9% 23-25

Net profit

€-7k

-103.2% 23-25

Cash flow

€-5k

-243.0% 23-25

Total assets

€50k

-1.8% 23-25

Equity

€41k

-14.6% 23-25

Working capital

€-8k

-178.8% 23-25

Debt

€9k

+210.0% 23-25

Debt ≤ 1y

€9k

+210.0% 23-25

Current ratio

0.13

+295.8% 23-25

Quick ratio

0.13

+295.8% 23-25

Solvency

82.0%

-13.0% 23-25

Debt / equity

0.22

+263.0% 23-25

ROE

-17.1%

-137.9% 23-25

ROA

-14.0%

-106.9% 23-25

Net margin

-98.8%

- 23-25

EBITDA margin

-70.0%

- 23-25

Interest coverage

-86.05

-276.1% 23-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023
Deposit	abbreviated schema	micro schema	micro schema
Revenue	€7k	-	-
EBITDA	€-5k	€-1k	€8k
Net profit	€-7k	€-3k	€7k
Cash flow	€-5k	€-1k	€8k
Staff costs	-	-	-
Income taxes	-	-	-
Dividends	-	-	-
Total assets	€50k	€50k	€53k
Equity	€41k	€48k	€51k
Debt	€9k	€3k	€2k
of which ≤ 1y	€9k	€3k	€2k
of which > 1y	-	-	-
Working capital	€-8k	€-3k	€-1k
Employees (FTE)	-	-	-

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023
Current ratio	0.13	0.03	0.25
Quick ratio	0.13	0.03	0.25
Working capital ratio	-15.7%	-5.5%	-2.5%
Solvency	82.0%	94.3%	96.6%
Debt / equity	0.22	0.06	0.03
Long-term debt ratio	-	-	-
Interest coverage	-86.05	-22.88	140.73
Gross margin	-38.4%	-	-
Net margin	-98.8%	-	-
ROA	-14.0%	-6.8%	14.1%
ROE	-17.1%	-7.2%	14.6%
EBITDA margin	-70.0%	-	-
Days sales outstanding	-	-	-
Days payable outstanding	-	-	-
Inventory turnover	-	-	-
Days inventory (DSI)	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €48k · 97.7% Current assets €1k · 2.3%

Equity & liabilities

Equity €41k · 82.0% Debt €9k · 18.0%

Full annual accounts (18 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€50k	€50k	€53k
Fixed assets	21/28	€48k	€50k	€52k
Tangible fixed assets	22/27	€48k	€50k	€52k
Current assets	29/58	€1k	€95	€448
Cash & bank	54/58	€1k	€95	€448
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€50k	€50k	€53k
Equity	10/15	€41k	€48k	€51k
Contributions / capital	10/11	€130k	€130k	€130k
Accumulated profits (losses)	14	€-89k	€-82k	€-79k
Amounts payable	17/49	€9k	€3k	€2k
Amounts payable within one year	42/48	€9k	€3k	€2k
Income statement
Turnover	70	€7k	-	-
Gross operating margin	9900	€-3k	€899	€11k
Operating result	9901	€-7k	€-3k	€7k
Financial charges	65	€57	€61	€60
Result before taxes	9903	€-7k	€-3k	€7k
Net result for the period	9904	€-7k	€-3k	€7k
Result to be appropriated	9905	€-7k	€-3k	€7k

Directors & mandates 2 directors

Current directors & mandates

VERHELST Laurent
Director
State Gazette act 24353639 (06-02-2024)

Current
06-02-2024 → present
VERHEYDEN Inge
Director
State Gazette act 24353639 (06-02-2024)

Current
06-02-2024 → present

Legal Structure

NACE primary	Real estate agency activities(68310)
Legal form	Public limited company(014)
Incorporation	24-01-1990
Status	Active
Postal code	8300

Establishment units 1 location

CLB NV

Sluis(B) 60, 9290 BerlareNACE 70201

since 19902.047.288.928

Real-estate footprint Source: CBE × cadastre

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
42003A0006/00P000	Flanders	4,977 m²	1 · 427 m²	7.5 m · 1 fl.
31334B0858/00_000	Flanders	480 m²	1 · 160 m²	11.2 m · 2 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 12Financial 1Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

15-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €-7k

Net result drops to €-7k, the lowest in the series.

14-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

05-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

06-02

State Gazette act Director changes

Frederik Tack

2023

25-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

04-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 30 days late

2020

08-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

12-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

30-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 30 days late

2017

21-08

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 21 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

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.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2024

06-02-2024 3 directors appointed Director changes·Frederik Tack

VERHELST Laurent, Bestuurder
VERHEYDEN Inge, Bestuurder
Verhelst Laurent, Directeur

Notary: Frederik Tack · WachtebekeFirm: Notarissen Noord, geassocieerde notarissen

Original publication ↗

Technical details

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  "notary": {
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  "act_meta": {
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    "legal_form": "NV"
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}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Real estate agency activities68310Real estate activities6831170311

Names & trade names

Legal nameNL

CLB

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