Credo Estates
ActiveSummary
The computed 12-month bankruptcy probability of Credo Estates is 1.7% (moderate). The 2025 annual accounts show equity of €242,701 and a net result of €20,633. Equity is growing by ~28.3% per year across the filed fiscal years. Its solvency ranks better than 12% of 1223 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability34▲+2
Solvency32▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.41 against 1.11 in 2024; short-term debt: 70.7% and cash: 4.9% of total assets), and 93% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
7%
Return on assets
0.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 1223 sector peers (2025).
NBB · sector comparisonPosition among 1223 sector peers
Solvency
better than 12%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
29 d early
2024
29 d late
2023
on the day
2022
72 d late
2021
45 d early
2020
52 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 4 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% 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. Usually files around 1 August (4 of the last 5 filed years within 46 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€242,701▲ 9.3%
2024 · €222,069
Total assets
€3.5m▼ 1.9%
2024 · €3.5m
Net result
€20,633▼ 62.3%
2024 · €54,705
Working capital
€1.0m▲ 196%
2024 · €340,712
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape 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
Line20212022202320242025
Operating result€64,917€216,619▲ 234%-€10,521€259,728€60,732▼ 76.6%
Net result€38,342above the sector's middle half€156,026above the sector's middle half▲ 307%-€26,776below the sector's middle half€54,705within the sector's middle half€20,633within the sector's middle half▼ 62.3%
Equity€38,114within the sector's middle half€194,140above the sector's middle half▲ 409%€167,363within the sector's middle half▼ 13.8%€222,069within the sector's middle half▲ 32.7%€242,701within the sector's middle half▲ 9.3%
Total assets€3.0mabove the sector's middle half▲ 68.5%€4.6mabove the sector's middle half▲ 52.6%€5.3mabove the sector's middle half▲ 16.3%€3.5mabove the sector's middle half▼ 33.5%€3.5mabove the sector's middle half▼ 1.9%
Debt€3.0m▲ 66.3%€4.4m▲ 48.0%€5.2m▲ 17.7%€3.3m▼ 35.6%€3.2m▼ 2.6%
Working capital€812,968above the sector's middle half€1.3mabove the sector's middle half▲ 62.1%€1.2mabove the sector's middle half▼ 9.5%€340,712within the sector's middle half▼ 71.4%€1.0mabove the sector's middle half▲ 196%
Solvency1.3%below the sector's middle half▲ 1.3pp4.2%below the sector's middle half▲ 3.0pp3.1%below the sector's middle half▼ 1.1pp6.3%below the sector's middle half▲ 3.1pp7.0%below the sector's middle half▲ 0.7pp
Current ratio1.37within the sector's middle half▲ 0.381.41within the sector's middle half▲ 0.031.29within the sector's middle half▼ 0.121.11within the sector's middle half▼ 0.181.41within the sector's middle half▲ 0.30
Return on assets (ROA)1.3%within the sector's middle half▲ 1.9pp3.4%within the sector's middle half▲ 2.1pp-0.5%below the sector's middle half▼ 3.9pp1.5%within the sector's middle half▲ 2.0pp0.6%within the sector's middle half▼ 1.0pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
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 falls in 2025; 2025 is 77% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.5m
Fixed assets
€11,248 ▲ 15.8%
Current assets
€3.5m ▼ 1.9%
Equity and liabilities €3.5m
Equity
€242,701 ▲ 9.3%
Debt
€3.2m ▼ 2.6%
Debt's share of the balance-sheet total falls from 93.7% to 93.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€65,369▼
2024 · €265,434
Cash flow
€25,270▼
2024 · €60,412
Quick ratio
0.28▼
2024 · 0.91
Debt to equity
13.32▼
2024 · 14.95
ROE
8.5%▼
2024 · 24.6%
Interest coverage
1.70▲
2024 · 1.41
Debt ≤ 1 year
€2.5m▼
2024 · €3.2m
Debt > 1 year
€768,000▲
2024 · €0
Income taxes
€2,185▼
2024 · €17,582
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,599 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.6%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,599 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,772 | €5,258 | €5,988 | €5,706 | €4,637 | ▼ 18.7% |
| Other operating charges640/8 | €4,561 | €5,194 | €3,463 | €36,559 | €192,782 | ▲ 427% |
| Non-recurring operating charges66A | - | - | - | - | €4,094 | - |
| Gross operating margin9900 | €73,251 | €227,071 | -€1,070 | €301,993 | €262,245 | ▼ 13.2% |
| Operating profit (loss)9901 | €64,917 | €216,619 | -€10,521 | €259,728 | €60,732 | ▼ 76.6% |
| Financial income75/76B | €642 | €797 | €529 | €187 | €489 | ▲ 161% |
| Recurring financial income75 | €642 | €797 | €529 | €187 | €489 | ▲ 161% |
| Financial charges65/66B | €19,758 | €15,119 | €17,126 | €187,628 | €38,403 | ▼ 79.5% |
| Recurring financial charges65 | €19,758 | €15,119 | €17,126 | €187,628 | €38,403 | ▼ 79.5% |
| Profit (loss) for the period before taxes9903 | €45,801 | €202,297 | -€27,118 | €72,287 | €22,818 | ▼ 68.4% |
| Income taxes67/77 | €7,459 | €46,271 | -€342 | €17,582 | €2,185 | ▼ 87.6% |
| Profit (loss) for the period9904 | €38,342 | €156,026 | -€26,776 | €54,705 | €20,633 | ▼ 62.3% |
| Profit (loss) for the period to be appropriated9905 | €38,342 | €156,026 | -€26,776 | €54,705 | €20,633 | ▼ 62.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.0m | €4.6m | €5.3m | €3.5m | €3.5m | ▼ 1.9% |
| Fixed assets21/28 | €13,035 | €20,132 | €15,421 | €9,715 | €11,248 | ▲ 15.8% |
| Tangible fixed assets22/27 | €13,035 | €20,132 | €15,421 | €9,715 | €11,248 | ▲ 15.8% |
| Plant, machinery and equipment23 | €3,809 | €2,939 | €2,069 | €1,199 | €329 | ▼ 72.6% |
| Furniture and vehicles24 | €2,761 | €11,519 | €8,468 | €4,422 | €10,919 | ▲ 147% |
| Other tangible fixed assets26 | €6,465 | €5,675 | €4,884 | €4,094 | €0 | ▼ 100% |
| Current assets29/58 | €3.0m | €4.6m | €5.3m | €3.5m | €3.5m | ▼ 1.9% |
| Stocks and contracts in progress3 | €2.2m | €3.9m | €4.8m | €612,144 | €2.8m | ▲ 352% |
| Stocks30/36 | €2.1m | €3.6m | €4.2m | €400,399 | €2.8m | ▲ 591% |
| Contracts in progress37 | €77,288 | €249,578 | €633,218 | €211,745 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €674,866 | €611,529 | €423,672 | €349,245 | €28,729 | ▼ 91.8% |
| Trade receivables40 | €64,584 | €27,876 | €415,761 | €349,245 | €28,729 | ▼ 91.8% |
| Other amounts receivable41 | €610,282 | €583,652 | €7,911 | €0 | - | - |
| Cash at bank and in hand54/58 | €77,127 | €76,490 | €19,546 | €15,747 | €170,876 | ▲ 985% |
| Deferred charges and accrued income490/1 | €20,721 | €736 | €16,394 | €2.6m | €499,077 | ▼ 80.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.0m | €4.6m | €5.3m | €3.5m | €3.5m | ▼ 1.9% |
| Equity10/15 | €38,114 | €194,140 | €167,363 | €222,069 | €242,701 | ▲ 9.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €28,114 | €184,140 | €157,363 | €212,069 | €232,701 | ▲ 9.7% |
| Distributable reserves133 | €28,114 | €184,140 | €157,363 | €212,069 | €232,701 | ▲ 9.7% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €3.0m | €4.4m | €5.2m | €3.3m | €3.2m | ▼ 2.6% |
| Amounts payable after more than one year17 | €787,888 | €1.1m | €1.0m | €0 | €768,000 | - |
| Financial debts170/4 | €787,888 | €1.1m | €1.0m | €0 | €768,000 | - |
| Amounts payable within one year42/48 | €2.2m | €3.2m | €4.1m | €3.2m | €2.5m | ▼ 23.0% |
| Current portion of amounts payable after more than one year42 | €479,500 | €0 | - | - | - | - |
| Financial debts43 | €0 | €1.2m | €1.4m | €869,950 | €976,500 | ▲ 12.2% |
| Credit institutions430/8 | €0 | €1.2m | €1.4m | €869,950 | €976,500 | ▲ 12.2% |
| Trade debts44 | €62,584 | €38,304 | €101,622 | €93,023 | €125,666 | ▲ 35.1% |
| Suppliers440/4 | €62,584 | €38,304 | €101,622 | €93,023 | €125,666 | ▲ 35.1% |
| Advances received on contracts in progress46 | €67,173 | €310,463 | €667,175 | €210,000 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €8,690 | €73,750 | €6,360 | €29,444 | €32,017 | ▲ 8.7% |
| Taxes450/3 | €8,690 | €73,750 | €4,110 | €29,444 | €32,017 | ▲ 8.7% |
| Remuneration and social security454/9 | - | - | €2,250 | €0 | - | - |
| Other amounts payable47/48 | €1.6m | €1.6m | €1.9m | €2.0m | €1.3m | ▼ 33.5% |
| Accrued charges and deferred income492/3 | €0 | - | €645 | €128,358 | €8,267 | ▼ 93.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,342 | €156,026 | -€26,776 | €54,705 | €20,633 | ▼ 62.3% |
| + Depreciation and write-downs630 | €3,772 | €5,258 | €5,988 | €5,706 | €4,637 | ▼ 18.7% |
| Operating cash flow (approximation) | €42,114 | €161,283 | -€20,788 | €60,412 | €25,270 | ▼ 58.2% |
| Investment in fixed assets (approximation) | - | -€12,355 | -€1,277 | €0 | -€6,170 | - |
| Change in cash | - | -€637 | -€56,944 | -€3,800 | €155,130 | ▲ 4,183% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-06
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- Board meeting, 06-01-2026
- Registered-office move, Hoveniersstraat 50, 2018 Antwerpen
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Back to profitnet €54,705
Net result €54,705 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €222,069 ▲32.7%
Equity rises from €167,363 to €222,069.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€26,776
Net result drops to -€26,776, the lowest in the series; recovery starts the following year.
11-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 72 days late
2022
31-12
Financial
Highest result since 2020net €156,026 ▲307%
Net result €156,026, the highest in the series.
31-12
Financial
Equity above €150,000Eq €194,140 ▲409%
2 profitable years in a row build equity to €194,140.
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €38,342
Net result €38,342 after one loss-making year.
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not 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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2019
Ground area
651 m²
Building footprint
301 m²
Volume, LiDAR
5,704 m³
Parcel 11808H1179/00S021, Flanders · tallest building 26.2 m, ±7 floors. Linked by address, not a title deed.
32
companies at this address
See who is registered here
1 establishment unit
Credo Estates
since 20192.296.379.978
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1179/00S021 | Flanders | 651 m² | 1 · 301 m² | 26.2 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,279 companies in sector 81100 we hold annual accounts for 679. 466 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
Founded02-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
81100Combined facilities support activities
41001General construction of residential buildings
68121Development of residential building projects
68122Development of non-residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738627680
Also
9925:BE0738627680
Registered
16-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.