Data Espace
Open bankruptcyFinancials · financial year 2024, full format
2024 annual accounts filed 141 days after the deadline Filed on 19 December 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00589827.
Annual accounts 2024 filed on 19-12-2025 PDF all 25 filings
Turnover
€223,521▲ 23.6%
2022 · €180,892
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
-€3.8m▼ 51.2%
2023 · -€2.5m
Working capital
-€14.1m▼ 34.4%
2023 · -€10.5m
Multi-year overview
2018 to 2024, 7 financial yearsTurnover
no figure
2024
20182024
Operating result
-€1.7m
▼ 45.3%
2024
20182024
Net result
-€3.8m
▼ 51.2%
2024
lowest quarter of the sector
20182024
Equity
-€13.8m
▼ 37.3%
2024
lowest quarter of the sector
20182024
Total assets
€14.4m
▼ 0.4%
2024
highest quarter of the sector
20182024
Debt
€28.3m
▲ 15.1%
2024
20182024
Working capital
-€14.1m
▼ 34.4%
2024
lowest quarter of the sector
20182024
Solvency
-96.0%
▼ 26.3pp
2024
lowest quarter of the sector
20182024
Current ratio
0.05
▲ 0.02
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
-26.1%
▼ 8.9pp
2024
lowest quarter of the sector
20182024
Staff (FTE)
0
2024
lowest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€0.5m-€0.3m▼ 40.4%€0.3m▼ 14.0%€0.2m▼ 18.5%€0.2m▼ 16.3%€0.2m▲ 23.6%
Operating result-€1.0m--€1.7m▼ 70.7%-€1.2m▲ 26.8%-€1.2m▲ 2.7%-€1.3m▼ 8.2%-€1.2m▲ 11.3%-€1.7m▼ 45.3%
Net result-€1.4m--€2.2m▼ 52.8%-€1.8mbelow the sector's middle half▲ 19.2%-€1.8mbelow the sector's middle half▼ 2.5%-€1.9mbelow the sector's middle half▼ 3.7%-€2.5mbelow the sector's middle half▼ 32.5%-€3.8mbelow the sector's middle half▼ 51.2%
Equity€0.04m--€2.1m-€3.9mbelow the sector's middle half▼ 82.1%-€5.7mbelow the sector's middle half▼ 46.2%-€7.6mbelow the sector's middle half▼ 32.8%-€10.1mbelow the sector's middle half▼ 32.7%-€13.8mbelow the sector's middle half▼ 37.3%
Total assets€16.4m-€16.1m▼ 2.1%€15.6mabove the sector's middle half▼ 3.0%€15.1mabove the sector's middle half▼ 3.1%€14.7mabove the sector's middle half▼ 2.9%€14.5mabove the sector's middle half▼ 1.4%€14.4mabove the sector's middle half▼ 0.4%
Debt€16.3m-€18.1m▲ 11.4%€19.4m▲ 7.3%€20.8m▲ 6.8%€22.2m▲ 6.9%€24.6m▲ 10.6%€28.3m▲ 15.1%
Working capital-€11.8m--€14.5m▼ 22.9%-€16.1mbelow the sector's middle half▼ 11.1%-€17.9mbelow the sector's middle half▼ 11.5%-€8.7mbelow the sector's middle half▲ 51.2%-€10.5mbelow the sector's middle half▼ 19.9%-€14.1mbelow the sector's middle half▼ 34.4%
Solvency0.2%--13.4%▼ 13.6pp-25.1%below the sector's middle half▼ 11.7pp-37.9%below the sector's middle half▼ 12.8pp-51.8%below the sector's middle half▼ 13.9pp-69.7%below the sector's middle half▼ 17.9pp-96.0%below the sector's middle half▼ 26.3pp
Current ratio0.04-0.01▼ 0.030.00below the sector's middle half=0.00below the sector's middle half=0.00below the sector's middle half=0.03below the sector's middle half▲ 0.020.05below the sector's middle half▲ 0.02
Return on assets (ROA)-8.7%--13.6%▼ 4.9pp-11.3%below the sector's middle half▲ 2.3pp-12.0%below the sector's middle half▼ 0.7pp-12.8%below the sector's middle half▼ 0.8pp-17.2%below the sector's middle half▼ 4.4pp-26.1%below the sector's middle half▼ 8.9pp
Staff (FTE)0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a loss of €1.7m, larger than the loss of €1.2m in 2023. It is the lowest result since 2019.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €14.4m
Fixed assets
€13.7m ▼ 3.2%
Current assets
€671,873 ▲ 148%
Equity and liabilities
Equity-€13.8m
Debt€28.3m
Equity is negative. Debt (€28.3m) exceeds the balance-sheet total (€14.4m).
Key figures and ratios
EBITDA
-€1.2m▼
2023 · -€700,668
Cash flow
-€3.3m▼
2023 · -€2.0m
Interest coverage
-0.59▼
2023 · -0.54
Debt ≤ 1 year
€14.8m▲
2023 · €10.7m
Debt > 1 year
€11.6m▼
2023 · €13.0m
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Revenue breakdown
By activity 2023
- Location Immobilière €223,521100.0%
Source: 2023 accounts, page 19, filing 2025-00019577
By geographic market 2020
- Belgique €265,087100.0%
Source: 2020 accounts, page 17, filing 2021-80300450
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Overdue tax debts | - | €451,274 | €1.0m | €1.6m |
Source: notes to the 2021 to 2024 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €10.3m | - | - | €2.5m |
| Mortgages, amount registered | €15.2m | €50,000 | €50,000 | €400,000 |
| Mortgage mandates | - | €14.8m | €14.8m | €14.8m |
| Carrying value of the mortgaged assets | €15.1m | €14.6m | €14.2m | €13.7m |
Source: notes to the 2021 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €21,030 | - |
| Intangible fixed assets | - | - | €0 | - |
| Depreciation and write-downs of the year | €454,761 | €454,761 | €454,945 | €455,392 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Auditor
The auditor is Finvision Bedrijfsrevisoren.
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fee for the audit | €3,798 | €3,798 | €3,518 | - |
Source: notes to the 2021 to 2024 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.3m | €0.3m | €0.3m | - | - |
| Turnover70 | €0.5m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | - | - |
| Other operating income74 | - | - | - | €0.07m | €0.2m | €0.01m | - | - |
| Non-recurring operating income76A | - | - | - | - | €0.002m | €0.02m | €0.01m | ▼ 11.2% |
| Operating charges60/66A | - | - | - | €1.5m | €1.6m | €1.4m | - | - |
| Services and other goods61 | - | - | - | €0.6m | €0.7m | €0.4m | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.01m | -€0.02m | -€0.1m | -€0.001m | ▲ 99.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | -€0.08m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.5m | €0.5m | €0.8m | €0.6m | ▼ 16.8% |
| Non-recurring operating charges66A | - | - | - | - | €0.003m | €0.003m | €0.03m | ▲ 12× |
| Gross operating margin9900 | - | - | - | - | - | - | -€0.6m | - |
| Operating profit (loss)9901 | -€1.0m | -€1.7m | -€1.2m | -€1.2m | -€1.3m | -€1.2m | -€1.7m | ▼ 45.3% |
| Financial income75/76B | - | - | - | €25 | €0.002m | €0 | €2 | - |
| Recurring financial income75 | €140 | - | €30 | €25 | €0.002m | €0 | €2 | - |
| Income from current assets751 | - | - | - | €25 | €198 | €0 | - | - |
| Other financial income752/9 | - | - | - | - | €0.002m | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.6m | €0.6m | €1.3m | €2.1m | ▲ 56.4% |
| Recurring financial charges65 | €0.4m | €0.5m | €0.5m | €0.6m | €0.6m | €1.3m | €2.1m | ▲ 56.4% |
| Debt charges650 | €0.4m | €0.5m | €0.5m | €0.6m | €0.6m | €1.3m | - | - |
| Other financial charges652/9 | - | - | - | - | €0.007m | €0.04m | - | - |
| Profit (loss) for the period before taxes9903 | -€1.4m | -€2.2m | -€1.8m | -€1.8m | -€1.9m | -€2.5m | -€3.8m | ▼ 51.2% |
| Profit (loss) for the period9904 | -€1.4m | -€2.2m | -€1.8m | -€1.8m | -€1.9m | -€2.5m | -€3.8m | ▼ 51.2% |
| Profit (loss) for the period to be appropriated9905 | -€1.4m | -€2.2m | -€1.8m | -€1.8m | -€1.9m | -€2.5m | -€3.8m | ▼ 51.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €16.4m | €16.1m | €15.6m | €15.1m | €14.7m | €14.5m | €14.4m | ▼ 0.4% |
| Fixed assets21/28 | €15.9m | €16.0m | €15.5m | €15.1m | €14.6m | €14.2m | €13.7m | ▼ 3.2% |
| Tangible fixed assets22/27 | €15.9m | €16.0m | €15.5m | €15.1m | €14.6m | €14.2m | €13.7m | ▼ 3.2% |
| Land and buildings22 | - | - | - | €15.1m | €14.6m | €14.2m | €13.7m | ▼ 3.2% |
| Current assets29/58 | €0.5m | €0.08m | €0.05m | €0.02m | €0.04m | €0.3m | €0.7m | ▲ 148% |
| Stocks and contracts in progress3 | - | - | - | - | €0 | €0 | - | - |
| Amounts receivable within one year40/41 | €0.07m | €0.08m | €0.05m | €0.02m | €0.04m | €0.3m | €0.7m | ▲ 147% |
| Trade receivables40 | - | - | - | €0.02m | €0.04m | €0.3m | €0.7m | ▲ 147% |
| Other amounts receivable41 | - | - | - | - | - | - | €36 | - |
| Cash at bank and in hand54/58 | - | €84 | - | - | - | - | €0.002m | - |
| Deferred charges and accrued income490/1 | - | - | - | €378 | €418 | €0.001m | €0.002m | ▲ 95.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €16.4m | €16.1m | €15.6m | €15.1m | €14.7m | €14.5m | €14.4m | ▼ 0.4% |
| Equity10/15 | €0.04m | -€2.1m | -€3.9m | -€5.7m | -€7.6m | -€10.1m | -€13.8m | ▼ 37.3% |
| Contributions10/11 | €0.4m | €0.4m | €0.4m | €2.5m | €2.5m | €2.5m | €2.5m | = |
| Capital10 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Issued capital100 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Contributions outside capital11 | - | - | - | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Share premium1100/10 | - | - | - | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Revaluation surpluses12 | - | - | - | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | -€4.0m | -€6.1m | -€7.9m | -€9.7m | -€11.6m | -€14.1m | -€17.8m | ▼ 26.7% |
| Provisions and deferred taxes16 | €0.1m | €0.1m | €0.08m | €0.08m | €0.08m | €0 | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.08m | €0.08m | €0 | - | - |
| Other liabilities and charges164/5 | - | - | - | €0.08m | €0.08m | €0 | - | - |
| Amounts payable17/49 | €16.3m | €18.1m | €19.4m | €20.8m | €22.2m | €24.6m | €28.3m | ▲ 15.1% |
| Amounts payable after more than one year17 | €4.0m | €3.6m | €3.3m | €2.8m | €13.3m | €13.0m | €11.6m | ▼ 10.6% |
| Financial debts170/4 | - | - | - | €2.8m | €2.4m | €2.1m | €0 | ▼ 100% |
| Credit institutions173 | - | - | - | €2.8m | €2.4m | €2.1m | - | - |
| Other amounts payable178/9 | - | - | - | - | €10.9m | €10.9m | €11.6m | ▲ 6.6% |
| Amounts payable within one year42/48 | €12.2m | €14.5m | €16.1m | €17.9m | €8.8m | €10.7m | €14.8m | ▲ 37.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.5m | €0.5m | €0.6m | €0 | ▼ 100% |
| Financial debts43 | - | - | - | €16.9m | €7.2m | €6.3m | €8.9m | ▲ 42.0% |
| Credit institutions430/8 | - | - | - | €7.0m | €5.8m | €6.3m | €8.9m | ▲ 42.0% |
| Other loans439 | - | - | - | €9.9m | €1.4m | €0 | - | - |
| Trade debts44 | €0.07m | €0.4m | €0.4m | €0.4m | €0.6m | €1.0m | €1.9m | ▲ 87.4% |
| Suppliers440/4 | - | - | - | €0.4m | €0.6m | €1.0m | €1.9m | ▲ 87.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.5m | €1.0m | €1.6m | ▲ 56.6% |
| Taxes450/3 | - | - | - | €0.1m | €0.5m | €1.0m | €1.6m | ▲ 56.6% |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.04m | €1.9m | €2.4m | ▲ 25.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.009m | €0.1m | €0.8m | €1.9m | ▲ 128% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.4m | -€2.2m | -€1.8m | -€1.8m | -€1.9m | -€2.5m | -€3.8m | ▼ 51.2% |
| + Depreciation and write-downs630 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 0.1% |
| Operating cash flow (approximation) | -€1.0m | -€1.7m | -€1.3m | -€1.4m | -€1.4m | -€2.0m | -€3.3m | ▼ 62.7% |
| Investment in fixed assets (approximation) | - | -€0.5m | -€0.001m | €0 | €0 | -€0.02m | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 19-12-2025 | 2025-00589827 | |
| 31-12-2023 | full format | 31-01-2025 | 2025-00019577 | |
| 31-12-2022 | full format | 31-07-2023 | 2023-00306532 | |
| 31-12-2021 | full format | 13-12-2022 | 2022-20537578 | |
| 31-12-2020 | full format | 14-12-2021 | 2021-80300450 | |
| 31-12-2019 | full format | 23-12-2020 | 2020-76900596 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-59100159 | |
| 31-12-2017 | full format | 22-08-2018 | 2018-49800160 | |
| 31-12-2016 | full format | 24-08-2017 | 2017-49300304 | |
| 31-12-2015 | full format | 25-07-2016 | 2016-35200258 |