ERPIM
ActiveSummary
ERPIM has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36,402 and a net result of -€21,817. Equity is shrinking by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 37% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability8▼-27
Solvency39▲+2
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.03 against 1.15 in 2024; short-term debt: 50% and cash: 1.4% of total assets), and 85.8% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 · 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.2%
Return on assets
-8.5%
Age of the figures
9 mo
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 21-07-2026, 10 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
10 d early
2024
153 d early
2023
117 d early
2022
69 d early
2021
114 d early
2020
102 d early
2019
114 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 97 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.
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, micro schema
Equity
€36,402▼ 37.5%
2024 · €58,219
Total assets
€255,671▼ 48.9%
2024 · €500,074
Net result
-€21,817
2024 · €10,426
Working capital
-€123,743
2024 · €64,466
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1,774€826▼ 53.4%-€3,371€30,201-€12,935
Net result€1,691within the sector's middle half-€3,571within the sector's middle half-€20,905below the sector's middle half▼ 485%€10,426within the sector's middle half-€21,817below the sector's middle half
Equity€72,268within the sector's middle half▲ 2.4%€68,698within the sector's middle half▼ 4.9%€47,793within the sector's middle half▼ 30.4%€58,219within the sector's middle half▲ 21.8%€36,402within the sector's middle half▼ 37.5%
Total assets€75,846below the sector's middle half▼ 38.7%€306,259within the sector's middle half▲ 304%€531,372within the sector's middle half▲ 73.5%€500,074within the sector's middle half▼ 5.9%€255,671within the sector's middle half▼ 48.9%
Debt€3,578▼ 93.3%€237,561▲ 6,539%€483,580▲ 104%€441,855▼ 8.6%€219,270▼ 50.4%
Working capital€75,286within the sector's middle half▲ 2.2%€69,884within the sector's middle half▼ 7.2%€49,766within the sector's middle half▼ 28.8%€64,466within the sector's middle half▲ 29.5%-€123,743below the sector's middle half
Solvency95.3%above the sector's middle half▲ 38.2pp22.4%within the sector's middle half▼ 72.9pp9.0%within the sector's middle half▼ 13.4pp11.6%within the sector's middle half▲ 2.6pp14.2%within the sector's middle half▲ 2.6pp
Current ratio1.30within the sector's middle half1.10within the sector's middle half▼ 0.191.15within the sector's middle half▲ 0.040.03below the sector's middle half▼ 1.12
Return on assets (ROA)2.2%within the sector's middle half▲ 6.2pp-1.2%within the sector's middle half▼ 3.4pp-3.9%below the sector's middle half▼ 2.8pp2.1%within the sector's middle half▲ 6.0pp-8.5%below the sector's middle half▼ 10.6pp
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 turns negative in 2025: a loss of €12,935 after €30,201 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €255,671
Fixed assets
€251,683 ▲ 22,447%
Current assets
€3,988 ▼ 99.2%
Equity and liabilities €255,671
Equity
€36,402 ▼ 37.5%
Debt
€219,270 ▼ 50.4%
Debt's share of the balance-sheet total falls from 88.4% to 85.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€5,111▼
2024 · €30,738
Cash flow
-€13,993▼
2024 · €10,964
Debt to equity
6.02▼
2024 · 7.59
ROE
-59.9%▼
2024 · 17.9%
Interest coverage
-0.58▼
2024 · 1.64
Debt ≤ 1 year
€127,731▼
2024 · €434,492
Debt > 1 year
€90,639
Income taxes
€123▼
2024 · €1,043
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,166 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
2.2%
went bankrupt
3.0%
stopped otherwise
94%
still going
A further 0.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 497,662 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 2,166 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,153 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €496 | €538 | €538 | €7,824 | ▲ 1,356% |
| Other operating charges640/8 | €348 | €348 | €384 | €387 | €641 | ▲ 65.5% |
| Gross operating margin9900 | €2,122 | €1,670 | -€2,449 | €31,126 | -€4,470 | ▼ 114% |
| Operating profit (loss)9901 | €1,774 | €826 | -€3,371 | €30,201 | -€12,935 | ▼ 143% |
| Financial charges65/66B | €83 | €4,397 | €17,534 | €18,732 | €8,760 | ▼ 53.2% |
| Recurring financial charges65 | €83 | €4,397 | €17,534 | €18,732 | €8,760 | ▼ 53.2% |
| Profit (loss) for the period before taxes9903 | €1,691 | -€3,571 | -€20,905 | €11,469 | -€21,694 | ▼ 289% |
| Income taxes67/77 | - | - | - | €1,043 | €123 | ▼ 88.2% |
| Profit (loss) for the period9904 | €1,691 | -€3,571 | -€20,905 | €10,426 | -€21,817 | ▼ 309% |
| Profit (loss) for the period to be appropriated9905 | €1,691 | -€3,571 | -€20,905 | €10,426 | -€21,817 | ▼ 309% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75,846 | €306,259 | €531,372 | €500,074 | €255,671 | ▼ 48.9% |
| Fixed assets21/28 | - | €2,191 | €1,654 | €1,116 | €251,683 | ▲ 22,447% |
| Tangible fixed assets22/27 | - | €2,191 | €1,654 | €1,116 | €251,683 | ▲ 22,447% |
| Land and buildings22 | - | - | - | - | €244,969 | - |
| Furniture and vehicles24 | - | €2,191 | €1,654 | €1,116 | €6,714 | ▲ 502% |
| Current assets29/58 | €75,846 | €304,067 | €529,718 | €498,958 | €3,988 | ▼ 99.2% |
| Stocks and contracts in progress3 | €64,593 | €297,679 | €527,033 | €205,617 | - | - |
| Stocks30/36 | €64,593 | €297,679 | €527,033 | €205,617 | - | - |
| Amounts receivable within one year40/41 | €206 | €4,114 | €1,116 | €290,000 | €185 | ▼ 99.9% |
| Trade receivables40 | - | €4,114 | - | - | - | - |
| Other amounts receivable41 | €206 | - | €1,116 | €290,000 | €185 | ▼ 99.9% |
| Cash at bank and in hand54/58 | €11,047 | €2,274 | €1,570 | €3,341 | €3,589 | ▲ 7.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €215 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75,846 | €306,259 | €531,372 | €500,074 | €255,671 | ▼ 48.9% |
| Equity10/15 | €72,268 | €68,698 | €47,793 | €58,219 | €36,402 | ▼ 37.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €56,865 | €56,865 | €55,005 | €65,430 | €65,430 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €55,005 | €55,005 | €55,005 | €65,430 | €65,430 | = |
| Profit (loss) carried forward14 | -€3,197 | -€6,767 | -€25,812 | -€25,811 | -€47,628 | ▼ 84.5% |
| Amounts payable17/49 | €3,578 | €237,561 | €483,580 | €441,855 | €219,270 | ▼ 50.4% |
| Amounts payable after more than one year17 | - | - | - | - | €90,639 | - |
| Financial debts170/4 | - | - | - | - | €88,889 | - |
| Other amounts payable178/9 | - | - | - | - | €1,750 | - |
| Amounts payable within one year42/48 | €560 | €234,183 | €479,952 | €434,492 | €127,731 | ▼ 70.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €6,667 | - |
| Financial debts43 | - | €176,728 | €391,553 | €366,155 | - | - |
| Credit institutions430/8 | - | €176,728 | €391,553 | €366,155 | - | - |
| Trade debts44 | - | €12,500 | €42,420 | €12,385 | - | - |
| Suppliers440/4 | - | €12,500 | €42,420 | €12,385 | - | - |
| Taxes, remuneration and social security45 | - | €701 | €744 | €1,519 | €1,406 | ▼ 7.4% |
| Taxes450/3 | - | €701 | €744 | €1,519 | €1,406 | ▼ 7.4% |
| Other amounts payable47/48 | €560 | €44,254 | €45,236 | €54,432 | €119,658 | ▲ 120% |
| Accrued charges and deferred income492/3 | €3,018 | €3,378 | €3,628 | €7,363 | €900 | ▼ 87.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,691 | -€3,571 | -€20,905 | €10,426 | -€21,817 | ▼ 309% |
| + Depreciation and write-downs630 | - | €496 | €538 | €538 | €7,824 | ▲ 1,356% |
| Operating cash flow (approximation) | €1,691 | -€3,074 | -€20,368 | €10,964 | -€13,993 | ▼ 228% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | -€258,391 | - |
| Change in cash | - | -€8,772 | -€704 | €1,771 | €248 | ▼ 86.0% |
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
21-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€21,817
Net result drops to -€21,817, the lowest in the series.
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €10,426
Net result €10,426 after 2 loss-making years.
05-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €1,691
Net result €1,691 after one loss-making year.
31-12
Financial
Liquidity times 55current ratio 135.44
Current ratio from 2.47 to 135.44; short-term debt falls from €50,017 to €560.
20-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €31,651 ▲34.2%
Operating result €59,874, net result €31,651, both a record.
Show earlier events
16-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-02
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 3 acts read
About the unread acts
We know of 3 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
3 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, Welkenraedt · 1 establishment unit since 2012
Ground area
1,192 m²
Building footprint
178 m²
Volume, LiDAR
1,109 m³
Parcel 63032D0049/00W000, Wallonia · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ERPIM
since 20122.212.410.840
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63032D0049/00W000 | Wallonia | 1,192 m² | 1 · 178 m² | 9.6 m · 2 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.
Similar companies · same sector, comparable size
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RAAK
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VANHEUSDEN WOONPROJECTEN
BE 0675.593.320
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Carlo Eggermont
BE 0536.235.794
Gent · Eq €36,291
Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. 3,033 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
Founded31-08-2012
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0848346162
Registered
26-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.