ESTERO
ActiveSummary
ESTERO has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €204,968 and a net result of €32,133. Equity has been growing by about 15% per year since 2018. Its solvency ranks better than 53% of 17,145 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-10-2013 Normal situation
- Activity
- Real estate agency activities NACE 68310and 4 others
- Joint committee
- 323 Paritair Comité voor het beheer van gebouwen, de vastgoedmakelaars en de dienstboden · annual accounts 2025
- Establishment unit
- 2.223.606.323 9420 Erpe-Mere, since 16-10-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 03-12-2024
Board and ownership
Board
- Laurent RaesDirector · since 19-10-2023
- Atelier TaloDirector · since 01-06-2025 · permanent representative Thomas De Pelsmacker
- Lama EstateDirector · since 01-06-2025 · permanent representative Mathias Van Oost
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Gross margin
- €451,732
- ▲ 20.0%
- Turnover
- ≈ €1.1m
- estimated
- Profit
- €32,133
- ▲ 205%
- Equity
- €204,968
- ▲ 18.6%
- Total assets
- €624,009
- ▲ 48.3%
- Employees on 31-12-2025
- 7
- ▼ 30.0%
Score breakdownraises risk1 change of registered office in 24 monthslowers riskSize: total assets €624,009Figures for financial year 2025 (filed on 16-07-2026)Liquidity: current ratio 1.27, cash €240,925Show the evidence
Checked score
Score 2025
93
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 51% of micro companies in architecture and engineering (NACE 71)
Financial strength · tick: 2024
Strong
Solvency
58-8
equity 32.8% of total assets
Liquidity
77+18
short-term debt 43.2% · cash 38.6%
Profitability
75+3
return on assets 5.1%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: < 0.1%▼ -0.1 percentage points vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025lowest value
12-2025: < 0.1%● unchanged vs 11-2025lowest value
01-2026: < 0.1%● unchanged vs 12-2025lowest value
02-2026: 0.1%▲ +0.1 percentage points vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.2%▲ +0.1 percentage points vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026highest value
08-2026: 0.1%▼ -0.1 percentage points vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Credit of up to €19,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.27 (1.55 in 2024), below the usual 1.5. Short-term debt is 43.2% and cash 38.6% of total assets. 67.2% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 32% of them on solvency, 66% on liquidity, 40% on profitability and 66% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 days early
2024
64 days early
2023
28 days early
2022
35 days early
2021
6 days early
2020
24 days late
2019
33 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 13 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 4 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 12 filings
Turnover
≈ €1.1m
Estimated: probably between €650,000 and €1.3m
Total assets
€624,009▲ 48.3%
2024 · €420,856
Net result
€32,133▲ 205%
2024 · €10,539
Working capital
€73,082▼ 37.8%
2024 · €117,567
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€49,588
▲ 95.5%
2025
20182025
Net result
€32,133
▲ 205%
2025
middle half of the sector
20182025
Equity
€204,968
▲ 18.6%
2025
middle half of the sector
20182025
Total assets
€624,009
▲ 48.3%
2025
middle half of the sector
20182025
Debt
€419,042
▲ 69.0%
2025
20182025
Working capital
€73,082
▼ 37.8%
2025
middle half of the sector
20182025
Solvency
32.8%
▼ 8.2pp
2025
middle half of the sector
20182025
Current ratio
1.27
▼ 0.28
2025
middle half of the sector
20182025
Return on assets (ROA)
5.1%
▲ 2.6pp
2025
middle half of the sector
20182025
Staff (FTE)
7.6
▲ 8.6%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€23,062-€6,123▼ 73.4%€115,957▲ 19×€77,840▼ 32.9%€16,936▼ 78.2%€8,200▼ 51.6%€25,366▲ 209%€49,588▲ 95.5%
Net result€13,624-€232▼ 98.3%€74,561above the sector's middle half▲ 322×€47,398above the sector's middle half▼ 36.4%€6,166within the sector's middle half▼ 87.0%€357within the sector's middle half▼ 94.2%€10,539within the sector's middle half▲ 29×€32,133within the sector's middle half▲ 205%
Equity€38,780-€39,011▲ 0.6%€113,572within the sector's middle half▲ 191%€155,773within the sector's middle half▲ 37.2%€161,939within the sector's middle half▲ 4.0%€162,296within the sector's middle half▲ 0.2%€172,835within the sector's middle half▲ 6.5%€204,968within the sector's middle half▲ 18.6%
Total assets€137,346-€211,027▲ 53.6%€247,680within the sector's middle half▲ 17.4%€523,695within the sector's middle half▲ 111%€326,468within the sector's middle half▼ 37.7%€450,247within the sector's middle half▲ 37.9%€420,856within the sector's middle half▼ 6.5%€624,009within the sector's middle half▲ 48.3%
Debt€98,566-€172,016▲ 74.5%€134,107▼ 22.0%€367,923▲ 174%€164,529▼ 55.3%€287,951▲ 75.0%€248,021▼ 13.9%€419,042▲ 69.0%
Working capital€35,964-€34,299▼ 4.6%€103,842within the sector's middle half▲ 203%€275,099above the sector's middle half▲ 165%€85,099within the sector's middle half▼ 69.1%€115,390within the sector's middle half▲ 35.6%€117,567above the sector's middle half▲ 1.9%€73,082within the sector's middle half▼ 37.8%
Solvency28.2%-18.5%▼ 9.7pp45.9%within the sector's middle half▲ 27.4pp29.7%within the sector's middle half▼ 16.1pp49.6%within the sector's middle half▲ 19.9pp36.0%within the sector's middle half▼ 13.6pp41.1%within the sector's middle half▲ 5.0pp32.8%within the sector's middle half▼ 8.2pp
Current ratio1.36-1.20▼ 0.171.84within the sector's middle half▲ 0.642.44within the sector's middle half▲ 0.601.57within the sector's middle half▼ 0.871.48within the sector's middle half▼ 0.091.55within the sector's middle half▲ 0.071.27within the sector's middle half▼ 0.28
Return on assets (ROA)9.9%-0.1%▼ 9.8pp30.1%above the sector's middle half▲ 30.0pp9.1%above the sector's middle half▼ 21.1pp1.9%within the sector's middle half▼ 7.2pp0.1%within the sector's middle half▼ 1.8pp2.5%within the sector's middle half▲ 2.4pp5.1%within the sector's middle half▲ 2.6pp
Staff (FTE)1.3within the sector's middle half3.1▲ 138%4.6▲ 48.4%5.3▲ 15.2%7▲ 32.1%7.6▲ 8.6%
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 2025 is 95% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €624,009
Fixed assets
€281,129 ▲ 211%
Current assets
€342,880 ▲ 3.8%
Equity and liabilities €624,009
Equity
€204,968 ▲ 18.6%
Debt
€419,042 ▲ 69.0%
Debt's share of the balance-sheet total rises from 58.9% to 67.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€85,619▲
2024 · €52,459
Cash flow
€68,164▲
2024 · €37,631
Debt to equity
2.04▲
2024 · 1.44
ROE
15.7%▲
2024 · 6.1%
Interest coverage
18.93▲
2024 · 17.64
Debt ≤ 1 year
€269,799▲
2024 · €212,858
Debt > 1 year
€149,219▲
2024 · €35,163
Income taxes
€13,942▲
2024 · €12,001
Staff costs
€362,919▲
2024 · €320,907
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 5 | 6 | 10 | 7 |
| full-time | 3 | 5 | 6 | 9 | 7 |
| part-time | 1 | - | 0 | 1 | 0 |
| in full-time equivalents | 3.5 | 5 | 6 | 9.5 | 7 |
| Average over the year, in full-time equivalents | 3.1 | 4.6 | 5.3 | 7 | 7.6 |
| On a permanent contract | 3 | 4 | 6 | 9 | 7 |
| Joined | 3 | 2 | 4 | 9 | 14 |
| Left | 1 | 1 | 3 | 5 | 17 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | - | - | - | - | €280,000 |
| Carrying value of the other pledged assets | - | - | - | - | €210,463 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €22,374 | €50,598 | €26,850 | €25,349 | €226,729 |
| Intangible fixed assets | €21,800 | - | €2,400 | - | - |
| Financial fixed assets | - | - | - | €50 | - |
| Depreciation and write-downs of the year | €7,222 | €14,910 | €27,277 | €27,092 | €36,032 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €3,339 awarded · €3,339 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €803 | €1,271 |
| 2024 | 1 | €1,406 | €938 |
| 2023 | 1 | €323 | €863 |
| 2022 | 1 | €807 | €267 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €5,287 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €101,060 | €160,176 | €222,793 | €320,907 | €362,919 | ▲ 13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,175 | €2,244 | €4,154 | €7,222 | €14,910 | €27,277 | €27,092 | €36,032 | ▲ 33.0% |
| Other operating charges640/8 | - | - | - | €2,126 | €1,097 | €1,434 | €3,088 | €3,194 | ▲ 3.4% |
| Gross operating margin9900 | €26,080 | €8,902 | €159,897 | €188,248 | €193,120 | €259,703 | €376,454 | €451,732 | ▲ 20.0% |
| Operating profit (loss)9901 | €23,062 | €6,123 | €115,957 | €77,840 | €16,936 | €8,200 | €25,366 | €49,588 | ▲ 95.5% |
| Financial income75/76B | - | - | - | €115 | €881 | €358 | €147 | €1,010 | ▲ 587% |
| Recurring financial income75 | €0 | €0 | €66 | €115 | €881 | €358 | €147 | €1,010 | ▲ 587% |
| Financial charges65/66B | - | - | - | €6,578 | €5,530 | €4,010 | €2,973 | €4,523 | ▲ 52.1% |
| Recurring financial charges65 | €313 | €4,195 | €3,057 | €6,578 | €5,530 | €4,010 | €2,973 | €4,523 | ▲ 52.1% |
| Profit (loss) for the period before taxes9903 | €22,748 | €1,929 | €112,965 | €71,377 | €12,287 | €4,548 | €22,540 | €46,075 | ▲ 104% |
| Income taxes67/77 | €9,124 | €1,697 | €38,404 | €23,979 | €6,121 | €4,191 | €12,001 | €13,942 | ▲ 16.2% |
| Profit (loss) for the period9904 | €13,624 | €232 | €74,561 | €47,398 | €6,166 | €357 | €10,539 | €32,133 | ▲ 205% |
| Profit (loss) for the period to be appropriated9905 | €13,624 | €232 | €74,561 | €47,398 | €6,166 | €357 | €10,539 | €32,133 | ▲ 205% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €137,346 | €211,027 | €247,680 | €523,695 | €326,468 | €450,247 | €420,856 | €624,009 | ▲ 48.3% |
| Fixed assets21/28 | €2,816 | €4,712 | €20,793 | €57,745 | €92,773 | €94,746 | €90,431 | €281,129 | ▲ 211% |
| Intangible fixed assets21 | €780 | €390 | €2,279 | €22,919 | €18,056 | €15,300 | €9,957 | €4,851 | ▼ 51.3% |
| Tangible fixed assets22/27 | €2,036 | €4,322 | €18,514 | €34,826 | €74,718 | €79,446 | €80,424 | €276,228 | ▲ 243% |
| Furniture and vehicles24 | - | - | - | €33,805 | €74,207 | €79,446 | €80,424 | €65,765 | ▼ 18.2% |
| Other tangible fixed assets26 | - | - | - | €1,021 | €510 | €0 | - | €210,463 | - |
| Financial fixed assets28 | - | - | - | - | - | - | €50 | €50 | = |
| Current assets29/58 | €134,530 | €206,315 | €226,887 | €465,950 | €233,695 | €355,501 | €330,425 | €342,880 | ▲ 3.8% |
| Stocks and contracts in progress3 | - | - | €18,000 | €314,706 | - | - | - | - | - |
| Stocks30/36 | - | - | - | €314,706 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €127,464 | €161,486 | €21,919 | €57,267 | €144,610 | €284,861 | €209,564 | €87,189 | ▼ 58.4% |
| Trade receivables40 | - | - | - | €19,528 | €71,402 | €128,706 | €138,706 | €49,623 | ▼ 64.2% |
| Other amounts receivable41 | - | - | - | €37,739 | €73,208 | €156,155 | €70,858 | €37,566 | ▼ 47.0% |
| Current investments50/53 | - | - | €180,000 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €6,426 | €44,189 | €5,978 | €87,894 | €62,953 | €66,736 | €116,098 | €240,925 | ▲ 108% |
| Deferred charges and accrued income490/1 | - | - | - | €6,083 | €26,133 | €3,904 | €4,763 | €14,767 | ▲ 210% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €137,346 | €211,027 | €247,680 | €523,695 | €326,468 | €450,247 | €420,856 | €624,009 | ▲ 48.3% |
| Equity10/15 | €38,780 | €39,011 | €113,572 | €155,773 | €161,939 | €162,296 | €172,835 | €204,968 | ▲ 18.6% |
| Contributions10/11 | €6,210 | €6,210 | - | €6,210 | €6,210 | €6,210 | €6,210 | €6,210 | = |
| Reserves13 | €32,570 | €32,801 | €107,362 | €149,563 | €155,729 | €156,086 | €166,625 | €198,758 | ▲ 19.3% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €147,703 | €153,869 | €156,086 | €166,625 | €198,758 | ▲ 19.3% |
| Amounts payable17/49 | €98,566 | €172,016 | €134,107 | €367,923 | €164,529 | €287,951 | €248,021 | €419,042 | ▲ 69.0% |
| Amounts payable after more than one year17 | - | - | €11,062 | €177,071 | €15,933 | €47,729 | €35,163 | €149,219 | ▲ 324% |
| Financial debts170/4 | - | - | - | €177,071 | €15,933 | €47,729 | €35,163 | €149,219 | ▲ 324% |
| Amounts payable within one year42/48 | €98,566 | €172,016 | €123,045 | €190,852 | €148,596 | €240,110 | €212,858 | €269,799 | ▲ 26.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,546 | €20,186 | €39,615 | €32,179 | €20,393 | ▼ 36.6% |
| Financial debts43 | - | - | - | €425 | €3,264 | €1,201 | €3,633 | €1,500 | ▼ 58.7% |
| Credit institutions430/8 | - | - | - | €425 | €3,264 | €491 | €3,633 | €1,500 | ▼ 58.7% |
| Other loans439 | - | - | - | - | - | €710 | €0 | - | - |
| Trade debts44 | €2,380 | €75,997 | €62,994 | €119,410 | €94,025 | €101,831 | €114,428 | €211,139 | ▲ 84.5% |
| Suppliers440/4 | - | - | - | €119,410 | €94,025 | €101,831 | €114,428 | €211,139 | ▲ 84.5% |
| Taxes, remuneration and social security45 | - | - | - | €48,950 | €31,121 | €64,349 | €62,501 | €36,646 | ▼ 41.4% |
| Taxes450/3 | - | - | - | €38,535 | €11,348 | €27,041 | €16,762 | €1,966 | ▼ 88.3% |
| Remuneration and social security454/9 | - | - | - | €10,415 | €19,774 | €37,308 | €45,740 | €34,680 | ▼ 24.2% |
| Other amounts payable47/48 | - | - | - | €10,521 | - | €33,115 | €118 | €121 | ▲ 2.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €111 | €0 | €24 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,624 | €232 | €74,561 | €47,398 | €6,166 | €357 | €10,539 | €32,133 | ▲ 205% |
| + Depreciation and write-downs630 | €2,175 | €2,244 | €4,154 | €7,222 | €14,910 | €27,277 | €27,092 | €36,032 | ▲ 33.0% |
| Operating cash flow (approximation) | €15,800 | €2,476 | €78,715 | €54,620 | €21,076 | €27,634 | €37,631 | €68,164 | ▲ 81.1% |
| Investment in fixed assets (approximation) | - | -€4,141 | -€20,234 | -€44,174 | -€49,939 | -€29,250 | -€22,777 | -€226,729 | ▼ 895% |
| Change in cash | - | €37,763 | -€38,211 | €81,916 | -€24,941 | €3,783 | €49,362 | €124,827 | ▲ 153% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as ESTERO has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of ESTERO itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for ESTERO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-07-2026 | 2026-00298069 | |
| 31-12-2024 | micro format | 28-05-2025 | 2025-00108299 | |
| 31-12-2023 | micro format | 03-07-2024 | 2024-00200396 | |
| 31-12-2022 | micro format | 26-06-2023 | 2023-00156547 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20216332 | |
| 31-12-2020 | micro format | 24-08-2021 | 2021-52400271 | |
| 31-12-2019 | micro format | 02-09-2020 | 2020-50400332 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56600044 | |
| 31-12-2017 | micro format | 03-07-2018 | 2018-28600488 | |
| 31-12-2016 | micro format | 22-08-2017 | 2017-46500528 |
Board & ownership
Directors
Directors
3 directors, last change in 2025
Board 3
Laurent Raes
Current
Director (not named in the articles) · since 19-10-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 16-07-2026
Atelier Talo
Current
Director (not named in the articles) · since 01-06-2025 · term without a fixed end · Legal entity · permanent representative: Thomas De Pelsmacker · listed in the 2025 annual accounts, filed on 16-07-2026
Lama Estate
Current
Director (not named in the articles) · since 01-06-2025 · term without a fixed end · Legal entity · permanent representative: Mathias Van Oost · listed in the 2025 annual accounts, filed on 16-07-2026
Permanent representatives 2
Mathias Van Oost
Current
Permanent representative · appointed in the act of 20-08-2025 · for Lama Estate
Thomas De Pelsmacker
Current
Permanent representative · appointed in the act of 20-08-2025 · for Atelier Talo
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“VIJFDE BESLUIT : De vergadering beslist dat ieder bestuurder alleen mag handelen voor zover de verrichting de 30.000 euro niet te boven…”
deed of 23-10-2023Owners and capital
Capital transactions
Capital over time
- 23-10-2023 Converted to unavailable equity
Mandate history
5 people, 3 in office
- Board
| Name | Functions and periods |
|---|---|
| Laurent Raes |
|
| Atelier Talo |
|
| Lama Estate |
|
| Mathias Van Oost |
|
| Thomas De Pelsmacker |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Natuurlijke/rechtspersonen, 1”
Articles of association, deed of 23-10-2023 (in Dutch)
Network & group
ESTERO shares no director with another company.
Companies at the same address
6 other companies- ServiceGo Registered office · since 2026 1035055425
- MeerWaarde Registered office · since 2025 1029121203
- Verhasselt Business and Technology Services Establishment · since 2025 0887673427
- SIDOTEX Establishment · since 2025 0805570548
- LAMA Estate Registered office · since 2024 1005128450
- Celafix Registered office · since 2020 0753825206
Connections & network
3 current directorsThe network starts from the directors of ESTERO. Every other company they run is a node.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
16-07
micro format · 15 days before the deadline
20-01
Gazette deed
Registered office moved from Haaltert to Erpe-Mere2 points ▸
Gazette deed
Registered office moved from Haaltert to Erpe-Mere
2 points ▸
- General meeting, 12-11-2025
- Registered-office move, Oudenaardsesteenweg 314,9420 Erpe-Mere
2025
31-12
Financial
Equity above €200,000equity €204,968 ▲18.6%
With a profit in every financial year since 2018, equity grows to €204,968.
22-09
Gazette deed
Appointment: Laurent Raes (director)Permanent representative: Van Oost Mathias · Power of attorney6 points ▸
Gazette deed
Appointment: Laurent Raes (director)
Permanent representative: Van Oost Mathias · Power of attorney6 points ▸
- General meeting, 26-08-2025
- Director appointment, Laurent Raes (director (not named in the articles))
- Power of attorney, BV Afinko
- Power of attorney
- Other provision, “bestuurder, signing capacity” (deed in Dutch)
- Permanent representative, Van Oost Mathias
20-08
Gazette deed
Resignations: Laurent Raes, Thomas De Pelsmacker and Mathias Van OostAppointments: ATELIER TALO (director) and Lama Estate (director) · Permanent representatives: Thomas De Pelsmacker and Mathias Van Oost · Director discharge14 points ▸
Gazette deed
Resignations: Laurent Raes, Thomas De Pelsmacker and Mathias Van Oost
Appointments: ATELIER TALO (director) and Lama Estate (director) · Permanent representatives: Thomas De Pelsmacker and Mathias Van Oost · Director discharge14 points ▸
- General meeting, 27-05-2025
- Director resignation, Laurent Raes (director (not named in the articles))
- Director discharge, Laurent Raes
- Director resignation, Thomas De Pelsmacker (director (not named in the articles))
- Director discharge, Thomas De Pelsmacker
- Director resignation, Mathias Van Oost (director (not named in the articles))
- Director discharge, Mathias Van Oost
- Director appointment, ATELIER TALO (director (not named in the articles))
- Permanent representative, Thomas De Pelsmacker
- General meeting, “kennis genomen van en akkoord te gaan met de benoeming door de rechtspersoon ATELIER TALO van Thomas De Pelsmacker als zijn vaste vertegenwoordiger” (deed in Dutch)
- Director appointment, Lama Estate (director (not named in the articles))
- Permanent representative, Mathias Van Oost
- The act holds 2 more points.
28-05
micro format · 64 days before the deadline
2024
03-07
micro format · 28 days before the deadline
2023
23-10
Gazette deed
Appointments: DE PELSMACKER Thomas, RAES Laurent and VAN OOST MathiasAmendment of the articles · Capital conversion · Capital10 points ▸
Gazette deed
Appointments: DE PELSMACKER Thomas, RAES Laurent and VAN OOST Mathias
Amendment of the articles · Capital conversion · Capital10 points ▸
- General meeting, 09-10-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Other provision, “nieuwe terminologie WVV, bestuurder” (deed in Dutch)
- Director appointment, DE PELSMACKER Thomas (director (not named in the articles))
- Director appointment, RAES Laurent (director (not named in the articles))
- Director appointment, VAN OOST Mathias (director (not named in the articles))
- Capital
- Registered office clause, “9450 Haaltert-Denderhoutem,Molenstraat 52/2” (deed in Dutch)
- Power of attorney, Gilles VAN OUDENHOVE
26-06
micro format · 35 days before the deadline
2022
25-07
micro format · 6 days before the deadline
2021
31-12
Financial
Equity above €150,000equity €155,773 ▲37.2%
With a profit in every financial year since 2018, equity grows to €155,773.
24-08
micro format · 24 days late
Show earlier events
2020
31-12
Financial
Highest result from 2018 to 2025net €74,561 ▲32,105%
The operating result of €115,957 and the net result of €74,561 are both a record.
31-12
Financial
Equity above €100,000equity €113,572 ▲191%
With a profit in every financial year since 2018, equity grows to €113,572.
02-09
micro format · 33 days late
2019
31-12
Financial
Weakest financial yearnet €232 ▼98.3%
The net result drops to €232, the lowest from 2018 to 2025. It recovers the following year.
29-08
micro format · 29 days late
2018
03-07
micro format · 28 days before the deadline
2017
22-08
micro format · 22 days late
2013
30-10
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
ESTERO in Dutch
Enterprise number
0540.978.403
Legal form
Private limited company
Status
Active, normale toestand
Founded
21-10-2013
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 23-10-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, bestuursorgaan kan administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren vestigen in België of…”
deed of 23-10-2023 (in Dutch)Registered office and establishments
Registered office
Oudenaardsesteenweg 314, 9420 Erpe-Mere, Belgium
1 former office
- Molenstraat 52/2, 9450 Haaltert until 12-11-2025 · act of 20-01-2026
Establishment unit
ESTERO, Oudenaardsesteenweg 314, 9420 Erpe-Mere since 16-10-2013 · unit number 2.223.606.323
Activities
NACEBEL 2025VAT activities
68121
Development of residential building projects
68322
Real estate appraisal on a fee or contract basis
74999
Other professional, scientific and technical activities
82990
Other business support services
Social security (RSZ) activities
68310
Real estate agency activities main activity
Codes under NACEBEL 2008
VAT activities
41101
Real estate development
82990
Other business support services
Social security (RSZ) activities
68311
Real estate activities main activity
Joint committee
323 Paritair Comité voor het beheer van gebouwen, de vastgoedmakelaars en de dienstboden annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 23-10-2023 (in Dutch)
“1.alle immobiliaire operaties en onroerende zakelijke rechten of ermee verband houdende verrichtingen,voornamelijk de…”
30 activities
- 1.alle immobiliaire operaties en onroerende zakelijke rechten of ermee verband houdende verrichtingen,voornamelijk de aankoop,verkoop,ruiling,het bouwen,het laten bouwen,rentmeesterschap(privaatbeheer),het huren,het verhuren,ter beschikking stellen van gebouwen en gronden,de binnenhuisinrichting en decoratie,de omvorming of ombouwing en valorisatie van onroerende goederen,in voorkomend geval door middel van lotisering,grondverkaveling,nieuwbouw,heropbouw of verbouwing,alle activiteiten van projectontwikkelaar en makelaar in onroerende goederen;
- 2.schatten en expertiseren van onroerende goederen;opmaken van plannen en bestekken voor verbouwingen en nieuwbouwwoningen,het opmaken van plaatsbeschrijvingen en EPC;
- 3.de projectontwikkeling voor de nieuwbouw van individuele woningen of voor renovatiewerken en projectontwikkeling voor de bouw van appartementsgebouwen en garages;
- 4.alle afbraakwerken;
- 5.het verstrekken van operationeel,intellectueel en commercieel advies betreffende de organisatie en uitbating van vastgoedondernemingen of dienstverlenende ondernemingen op gebied van vastgoed;
- 6.het verrichten van administratieve dienstverlening in de ruimste zin;
- 7.het verlenen van administratief,financieel en managementadvies betreffende het bestuur van diverse ondernemingen in de meest ruime zin van het woord,alsook het bestuur waarnemen van andere vennootschappen of ondernemingen en daarvoor vergoedingen ontvangen;
- 8.overige werkzaamheden in verband met de afwerking van gebouwen;
- 9.reiniging van gebouwen;
- 10.uitvoeren van metsel- en voegwerken,chapewerken,stukadoorswerk;
- 11.restaureren van bouwwerken;
- 12.verzekeringsbemiddelaar;
- 13.kredietbemiddelaar;
- 14.het optreden als tussenpersoon,vertegenwoordiger of agentschap van één kredietinstelling,bank,spaarbank,kapitalisatieonderneming,krediet- en financieringsonderneming,gemeenschappelijke beleggingsfonds,onderneming voor het beheer van beleggingen en vermogens,verzekeringsonderneming,hetgeen ondermeer inhoudt:het aanbrengen van aanvragen,het negotiëren en het bemiddelen bij het afsluiten van geldleningen,kredietopeningen en verzekeringen aan vennootschappen of particulieren,onder om het even welke vorm;het aantrekken,het ontvangen en het bemiddelen bij het beleggen van gelden van derden op zicht- en spaarrekeningen,termijnrekeningen,in kasbons en obligaties van erkende instellingen,in verzekeringsproducten,het ontvangen van intekeningen op openbare uitgiften,van effecten met het oog op neerlegging in open en gesloten bewaargeving op naam van het cliënteel tegen aflevering van kwijting,het bemiddelen bij deviezenverrichtingen en effectentransacties en adviesverlening,met betrekking tot vermogensbeheer en beleggingen in het algemeen,het betalen van vervallen intresten,koepons en plaatsingen in het algemeen;
- De verwerving van participaties onder gelijk welke vorm ook in handels-,industriële en financiële ondernemingen,zo Belgische als buitenlandse,het beheer,evenals het te gelde maken van deze participaties,de verwerving door deelneming,inschrijving,aankoop,optie of om het even welk ander middel,van alle deelbewijzen,aandelen,obligaties,waarden en titels;
- De in- en uitvoer,groot- en kleinhandel in alle materialen voor dakwerken,dakbedekking,isolatie,goten en afvoerbuizen;
- Het geven van opleidingen,trainingen en vorming;
- Het organiseren van evenementen;
- Het ontwerp,verkoop,huur en verhuur van alle mogelijke promotiemateriaal;
- Het schrijven en uitgeven van lesmateriaal,boeken,programma’s;
- Het verstrekken van informatie;
- 1.het afnemen van testen;
- 1.het organiseren(in binnen- en buitenland)en het geven van begeleiding en lessen in allerlei vormen aan particulieren,bedrijven,verenigingen;
- 1.het uitbaten,aankopen,verkopen,huren,verhuren,exploiteren,verwerven,uitbaten,openhouden van paleizen en hallen voor tentoonstellingen,congressen en andere culturele en artistieke manifestaties;het inrichten van vertoningen,schouwburg,artistieke cabaretten,concerten,lezingen,toneelvoorstellingen,sportmanifestaties,uitbating van sportterreinen,uitbating van danszalen,inrichten van tentoonstellingen en kunstgalerijen,installaties van feesten en tentoonstellingen,spijshuizen en drankgelegenheden,lunaparken,kansspelen,ondermeer cafés,herbergen,taveernes,bars,uitbating van privé clubs,uitbating van hotels en logementshuizen,en al wat daarmee rechtstreeks of onrechtstreeks verband houdt;
- 1.de samenstelling en beheer van een onroerend vermogen en de huurfinanciering van onroerende goederen aan derden,het verwerven door aankoop,het verkopen,het ruilen,het bouwen,het verbouwen,het doen bouwen of verbouwen,het verbeteren,het uitrusten,het aanpassen,het verfraaien,het onderhouden,het verhuren,het huren,het verkavelen,het prospecteren,en het uitbaten van onroerende goederen,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van die aard zijn de uitbreiding en de opbrengst van de onroerende goederen te bevorderen,alsmede zich borg stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen;
- 2.het beheer en toezicht voeren over alle andere vennootschappen en ondernemingen van welke aard ook;
- 3.het verlenen van management,supervisie,controle en adviezen op gebied van marketing,productie,financiën,administratief en commercieel beheer;
- 4.het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien en brevetten,know-how en intellectuele rechten;
- 5.de aan- en verkoop,in- en uitvoer,commissiehandel en vertegenwoordiging van om het even welke goederen,in het kort tussenpersoon in de handel;
- 6.als algemene onderneming de bedrijvigheden coördineren die betrekking hebben op de gehele of gedeeltelijke uitvoering van bouwvoltooiingswerken door onderaannemers;
Invoicing and payment
VAT number
BE 0540.978.403
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0540.978.403
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Saturday of June at 15:00
deed of 23-10-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
1,180 m²
Building footprint
205 m²
Building volume
84 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41016D0989/00R000 | Flanders | 1,180 m² | 1 · 205 m² | 10.6 m |