Result
-€116,501 -€116,501
From profit to loss in 2025, after a profit of €104,180 in 2024.
RELION
Lifetime
18 annual accounts with figures on one time axis, 34 filings since 1991peak €1.7m (2024)
€930,855▼ 45.2%
lowest -€246,632 (2023)
-€116,501▼ €220,681
peak €5.1m (2024)
€4.9m▼ 2.3%
€11.0m▲ 2.0%
peak 0 FTE (2021)
0 FTE
Board6 names since 2017
4 directorsCASTELEYN Bieke and 3 others
Owners
100%4C-Group
Documentsfilings and deeds
19-12-202512 days before the deadline
2025abbreviated format
Gross margin from €1.7m to €930,855Loss of €116,501Investments €1.6mCash from €1.1m to €414,946
Key points
from the 2025 annual accountsTurnover
≈ €1.0m estimated
The abbreviated format states no turnover.
Position in the sector
-€116,501
Lower net result than 90% of companies in real estate. Sector median €9,997 · 11,290 companies.
Checked score
93
Excellent
Financially stronger than 41% of medium-sized companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,721 companies (NACE 68, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%highest value
01-2025: < 0.1%▼ -0.1 percentage points vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: < 0.1%● unchanged vs 02-2025lowest value
04-2025: < 0.1%● unchanged vs 03-2025lowest value
05-2025: < 0.1%● unchanged vs 04-2025lowest value
06-2025: < 0.1%● unchanged vs 05-2025lowest value
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 10-2025
12-2025: 0.1%▲ +0.1 percentage points vs 11-2025
01-2026: < 0.1%▼ -0.1 percentage points vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: 0.1%▲ +0.1 percentage points vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.40, cash €414,946, halved
lowers risk
Size: total assets €16.8m
Founded in 1991
Sector: Real estate activities (NACE 68)
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 68, medium-sized). It does better than 52% of them on solvency, 28% on liquidity, 52% on profitability and 32% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-05-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 371 companies had the same profile as RELION has now. Each dot is one company, two years later.
97.3%
were still trading
2.2%
stopped another way
0.5%
went bankrupt
That fits the bankruptcy probability of RELION itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 371 companies, not a prediction for RELION. 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.
Credit verdict
Credit of up to €450,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.4 (0.6 in 2024), below 1. Short-term debt is 37.7% and cash 2.5% of total assets. 70.6% of the assets are financed with debt and provisions.
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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 31-05-2025 was due by 31-12-2025 and was filed on 19-12-2025, 12 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
12 days early
2024
12 days early
2023
12 days early
2022
9 days early
2021
8 days early
2020
19 days late
2019
26 days early
← 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 9 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 financial year that closed on 31-05-2026 is due by 31-12-2026. Nothing is late today. The company usually files around 19 December (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
31-05-2026 year end08-11-2026 today31-12-2026 deadline
Board and ownership
Shares in 5 companies, including ASSEBROEK CONSTRUCT and TUK TUK
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0444501510
Environmental permit refused
Nieuwe publiciteitsinrichting (met inbegrip van vernieuwen van een bestaande vergunning) · Provincie Limburg
Environmental permit granted
Bouwen of herbouwen, Nieuwbouw of aanleggen, Nieuwbouw van bijgebouwen en niet overdekte lage constructie and 2 more · Provincie Antwerpen
Environmental permit granted
Bouwen of herbouwen, Hoogstammige bomen vellen die geen deel uitmaken van een bos, Nieuwbouw of aanleggen and 4 more · Tielt
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| RELION Tielt | €16.8m | €0.9m | 29.4% | 0 |
| GEVAN Wevelgem | €20.0m | €1.2m | 4.8% | 0 |
| Imopa Boechout | €18.2m | €0.9m | 14.2% | 0 |
| IMMO WYBO Poperinge | €19.4m | €1.5m | 10.4% | 0 |
| CONSTRUHOLD Houthalen-Helchteren | €20.9m | €1.2m | 65.0% | 0 |
| AIRPORT BORDER Etterbeek | €18.2m | €1.1m | -15.0% | 0 |
| VENIREMY Leuven | €12.4m | €1.1m | 36.2% | 0 |
These companies have the same main activity as RELION: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €12m and €21m, founded between 1982 and 1998.
Official details
Source: KBO- Status
- Active since 21-06-1991Normal situation
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203and 1 other
- Establishment unit
- 2.054.430.3068760 Tielt, since 03-10-1991
- Financial year end
- 31 May
- Peppol
- Reachable since 27-03-2026
Annual accounts to 31-05-2025
- €16.8m▲ 0.1%
- Filing
- Filed on 19-12-2025, 12 days before the end of the filing period
Companies linked to RELION
Subsidiaries and holdings
- KOKSIJDE CONSTRUCT75%
- TR 1150%
- WG 62550%
Insights on RELION
RELION files the abbreviated format. That format states no turnover. The gross margin rose from €194,727 in 2007 to €930,855 in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets.
4C-Group holds all the shares. In January 2023, the Official Gazette published the appointment of RELION DEVELOP as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about RELION
- What is the company number of RELION?
- The company number of RELION is 0444.501.510. The VAT number is the same number with BE in front: BE 0444.501.510.
- Where is RELION based?
- The registered office is at Ingelmunstersteenweg 23, 8760 Tielt.Company details
- What does RELION do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of RELION?
- RELION is a public limited company (NV).
- When was RELION founded?
- RELION was founded on 21-06-1991.
- Is RELION still active?
- Yes, RELION is an active enterprise in the KBO register.
- What is the turnover of RELION?
- The turnover in financial year 2025 is ≈ €1.0m. This figure is estimated from the gross margin of €930,855 and 39 comparable companies (NACE 68203). It probably lies between €980,000 and €1.3m.Financials
- Is RELION profitable?
- In financial year 2025, RELION made a loss of €116,501.
- Where can I find the annual accounts of RELION?
- RELION filed 34 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of RELION due?
- RELION must file the annual accounts for financial year 2026 by 31-12-2026.Timeline
Next steps
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