CUBE 2
ActiveSummary
CUBE 2 has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79,724 and a net result of €1,315. Equity is growing by ~21.1% per year across the filed fiscal years. Its solvency ranks better than 42% of 14284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+2
Solvency45▲+8
Growth49▼-17
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 1.04 in 2024; short-term debt: 73.2% and cash: 4.5% of total assets), and 79.7% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
Real estate activities (NACE 68)
about 43% fewer 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
20.3%
Return on assets
0.3%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
14 d late
2024
12 d late
2023
5 d early
2022
70 d early
2021
30 d late
2020
1 d early
2019
23 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 6 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 12 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€935,289▲ 20.5%
2023 · €776,350
EBIT margin
1.8%▲ 0.5pp
2023 · 1.3%
Net result
€1,315▼ 88.4%
2024 · €11,300
Working capital
€40,568▲ 78.7%
2024 · €22,699
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€752,180▼ 6.8%€836,000▲ 11.1%€776,350▼ 7.1%€935,289▲ 20.5%
Operating result€9,163▼ 31.2%€44,367▲ 384%€10,208▼ 77.0%€16,693▲ 63.5%€6,370▼ 61.8%
Net result€3,147within the sector's middle half▼ 16.5%€35,073above the sector's middle half▲ 1,014%€3,998within the sector's middle half▼ 88.6%€11,300within the sector's middle half▲ 183%€1,315within the sector's middle half▼ 88.4%
EBIT margin1.2%▼ 0.4pp5.3%▲ 4.1pp1.3%▼ 4.0pp1.8%▲ 0.5pp
Equity€28,038within the sector's middle half▲ 12.6%€63,111within the sector's middle half▲ 125%€67,109within the sector's middle half▲ 6.3%€78,410within the sector's middle half▲ 16.8%€79,724within the sector's middle half▲ 1.7%
Total assets€220,851within the sector's middle half▼ 0.5%€249,583within the sector's middle half▲ 13.0%€488,342within the sector's middle half▲ 95.7%€649,720within the sector's middle half▲ 33.0%€393,672within the sector's middle half▼ 39.4%
Debt€192,813▼ 2.2%€186,472▼ 3.3%€421,233▲ 126%€571,311▲ 35.6%€313,948▼ 45.0%
Working capital-€40,214within the sector's middle half▼ 7.5%-€21,009within the sector's middle half▲ 47.8%€83,854within the sector's middle half€22,699within the sector's middle half▼ 72.9%€40,568within the sector's middle half▲ 78.7%
Solvency12.7%within the sector's middle half▲ 1.5pp25.3%within the sector's middle half▲ 12.6pp13.7%within the sector's middle half▼ 11.5pp12.1%within the sector's middle half▼ 1.7pp20.3%within the sector's middle half▲ 8.2pp
Current ratio0.65within the sector's middle half▲ 0.010.82within the sector's middle half▲ 0.171.37within the sector's middle half▲ 0.551.04within the sector's middle half▼ 0.331.14within the sector's middle half▲ 0.10
Return on assets (ROA)1.4%within the sector's middle half▼ 0.3pp14.1%above the sector's middle half▲ 12.6pp0.8%within the sector's middle half▼ 13.2pp1.7%within the sector's middle half▲ 0.9pp0.3%within the sector's middle half▼ 1.4pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 62% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €393,672
Fixed assets
€65,099 ▼ 43.8%
Current assets
€328,573 ▼ 38.5%
Equity and liabilities €393,672
Equity
€79,724 ▲ 1.7%
Debt
€313,948 ▼ 45.0%
Debt's share of the balance-sheet total falls from 87.9% to 79.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€69,538▼
2024 · €92,481
Cash flow
€64,483▼
2024 · €87,088
Quick ratio
1.14▲
2024 · 1.04
Debt to equity
3.94▼
2024 · 7.29
ROE
1.6%▼
2024 · 14.4%
Interest coverage
21.86▲
2024 · 20.01
Debt ≤ 1 year
€288,005▼
2024 · €511,249
Debt > 1 year
€24,402▼
2024 · €60,062
Income taxes
€8,381▲
2024 · €4,801
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
1.6%
stopped otherwise
97%
still going
For this company itself Checked computes a lower bankruptcy probability: 0.1% 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 497,341 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% | 1.0% |
| 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% 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 4,508 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €752,180 | €836,000 | €776,350 | €935,289 | - | - |
| Non-recurring operating income76A | €5,502 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €703,660 | €763,910 | €703,535 | €853,273 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57,936 | €65,124 | €68,160 | €75,788 | €63,168 | ▼ 16.7% |
| Other operating charges640/8 | €3,217 | €4,894 | €6,009 | €3,039 | €2,370 | ▼ 22.0% |
| Non-recurring operating charges66A | €5,084 | €644 | - | - | - | - |
| Gross operating margin9900 | €75,399 | €115,029 | €84,376 | €95,521 | €71,908 | ▼ 24.7% |
| Operating profit (loss)9901 | €9,163 | €44,367 | €10,208 | €16,693 | €6,370 | ▼ 61.8% |
| Financial income75/76B | €103 | €171 | €5 | €4,029 | €6,507 | ▲ 61.5% |
| Recurring financial income75 | €103 | €171 | €5 | €4,029 | €6,507 | ▲ 61.5% |
| Financial charges65/66B | €3,006 | €1,696 | €2,265 | €4,621 | €3,182 | ▼ 31.1% |
| Recurring financial charges65 | €2,185 | €1,696 | €2,265 | €4,621 | €3,182 | ▼ 31.1% |
| Non-recurring financial charges66B | €822 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €6,259 | €42,842 | €7,948 | €16,101 | €9,696 | ▼ 39.8% |
| Income taxes67/77 | €3,112 | €7,769 | €3,950 | €4,801 | €8,381 | ▲ 74.6% |
| Profit (loss) for the period9904 | €3,147 | €35,073 | €3,998 | €11,300 | €1,315 | ▼ 88.4% |
| Profit (loss) for the period to be appropriated9905 | €3,147 | €35,073 | €3,998 | €11,300 | €1,315 | ▼ 88.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €220,851 | €249,583 | €488,342 | €649,720 | €393,672 | ▼ 39.4% |
| Fixed assets21/28 | €145,307 | €151,221 | €179,926 | €115,772 | €65,099 | ▼ 43.8% |
| Tangible fixed assets22/27 | €141,557 | €147,471 | €176,176 | €112,022 | €60,891 | ▼ 45.6% |
| Plant, machinery and equipment23 | €39,278 | €46,272 | €42,654 | €35,065 | €26,680 | ▼ 23.9% |
| Furniture and vehicles24 | €101,851 | €100,870 | €133,293 | €76,829 | €34,183 | ▼ 55.5% |
| Other tangible fixed assets26 | €428 | €328 | €228 | €128 | €28 | ▼ 77.8% |
| Financial fixed assets28 | €3,750 | €3,750 | €3,750 | €3,750 | €4,209 | ▲ 12.2% |
| Current assets29/58 | €75,543 | €98,362 | €308,417 | €533,948 | €328,573 | ▼ 38.5% |
| Stocks and contracts in progress3 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Stocks30/36 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Amounts receivable within one year40/41 | €54,648 | €70,015 | €249,453 | €508,097 | €295,812 | ▼ 41.8% |
| Trade receivables40 | €30,494 | €53,602 | €156,396 | €400,630 | €138,004 | ▼ 65.6% |
| Other amounts receivable41 | €24,155 | €16,413 | €93,057 | €107,467 | €157,809 | ▲ 46.8% |
| Cash at bank and in hand54/58 | €7,227 | €13,039 | €44,858 | €14,588 | €17,582 | ▲ 20.5% |
| Deferred charges and accrued income490/1 | €12,168 | €13,809 | €12,605 | €9,764 | €13,679 | ▲ 40.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €220,851 | €249,583 | €488,342 | €649,720 | €393,672 | ▼ 39.4% |
| Equity10/15 | €28,038 | €63,111 | €67,109 | €78,410 | €79,724 | ▲ 1.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €7,578 | €42,651 | €46,649 | €57,950 | €59,264 | ▲ 2.3% |
| Amounts payable17/49 | €192,813 | €186,472 | €421,233 | €571,311 | €313,948 | ▼ 45.0% |
| Amounts payable after more than one year17 | €75,872 | €67,100 | €95,031 | €60,062 | €24,402 | ▼ 59.4% |
| Financial debts170/4 | €75,872 | €67,100 | €95,031 | €60,062 | €24,402 | ▼ 59.4% |
| Amounts payable within one year42/48 | €115,757 | €119,372 | €224,563 | €511,249 | €288,005 | ▼ 43.7% |
| Current portion of amounts payable after more than one year42 | €57,049 | €40,943 | €50,166 | €46,222 | €37,031 | ▼ 19.9% |
| Trade debts44 | €55,408 | €28,085 | €11,971 | €79,776 | €228,358 | ▲ 186% |
| Suppliers440/4 | €55,408 | €28,085 | €11,971 | €79,776 | €228,358 | ▲ 186% |
| Taxes, remuneration and social security45 | €3,300 | €6,369 | €3,950 | €15,759 | €22,616 | ▲ 43.5% |
| Taxes450/3 | €3,300 | €6,369 | €3,950 | €15,759 | €22,616 | ▲ 43.5% |
| Other amounts payable47/48 | - | €43,975 | €158,475 | €369,492 | - | - |
| Accrued charges and deferred income492/3 | €1,184 | - | €101,639 | - | €1,542 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,147 | €35,073 | €3,998 | €11,300 | €1,315 | ▼ 88.4% |
| + Depreciation and write-downs630 | €57,936 | €65,124 | €68,160 | €75,788 | €63,168 | ▼ 16.7% |
| Operating cash flow (approximation) | €61,083 | €100,197 | €72,158 | €87,088 | €64,483 | ▼ 26.0% |
| Investment in fixed assets (approximation) | - | -€71,037 | -€96,865 | -€11,635 | -€12,495 | ▼ 7.4% |
| Change in cash | - | €5,812 | €31,819 | -€30,270 | €2,994 | ▲ 110% |
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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 14 days late
2025
31-12
Financial
Weakest financial yearnet €1,315 ▼88.4%
Net result drops to €1,315, the lowest in the series.
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 12 days late
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €35,073 ▲1,014%
Operating result €44,367, net result €35,073, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
No directors read yet: 0 of 5 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2013
Ground area
619 m²
Building footprint
157 m²
Parcel 25763I0660/00B000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CUBE2
since 20132.216.946.282
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763I0660/00B000 | Wallonia | 619 m² | 1 · 157 m² | - |
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.
Similar companies · same sector, comparable size
TECHNIQUES ET CONSTRUCTION MARCOLINI
BE 0778.456.375
Morlanwelz · Eq €79,780
Kempen Real Estate
BE 0700.346.631
Herentals · Eq €79,837
CDG Projects
BE 0748.744.087
Zonhoven · Eq €79,849
AVE IMMO
BE 0776.725.322
Chaudfontaine · Eq €79,861
TPAGS
BE 0774.858.269
Esneux · Eq €79,864
Of 9,695 companies in this sector we hold annual accounts for 7,393. 5,249 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formCooperative company
Founded07-02-2013
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
43110Demolition
43320Joinery installation
43332Laying of wooden floor and wall coverings
43350Other building finishing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0503982603
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.