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FLATS RESIDENCES

Active
Private limited company (pre-2019)founded 1978active for 48 yearsRenaissancelaan 34, 1000 Brussel, Belgium11 active companies are registered at this addressKBO/BCE: BE 0418.298.543
Summary

The computed 12-month bankruptcy probability of FLATS RESIDENCES is 6.1% (elevated). The 2024 annual accounts show negative equity (-€135,551) and a net result of -€20,334. Equity is shrinking by about 21% per year across the filed financial years. Its solvency ranks better than 5% of 9,840 sector peers (NACE 41, financial year 2024). The company has been active since 1978 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
General construction of residential buildings
NACE 41001Property management for co-owned buildings (syndics) NACE 68321
10th oldest company in Brussels, Construction sector1 site
Size
€41,212total assets 2024
Equity
-€135,551
Loss
-€20,334
Turnover not published (micro format)
Financial health
33 Weak Checked score 2024
Bankruptcy probabilitywithin 12 months
6.1%
Structure
Accounts 83 days overdue
Why 33raises riskLiquidity: current ratio 0.21, cash €162Sector: Construction of residential and non-residential buildings (NACE 41)1 financial year not filed after the legal deadline; latest accounts 68 days late; 3 of the last 3 latelowers riskSize: total assets €41,212Show the evidence

Checked score

Score 2024
33 / 100
Weak
Probability in this band: 4.2% to 15.0%
Financially better than 8% of its sector peers (NACE 41, micro)
Financial strength · tick = 2023
Weak
Solvency 0=
equity -328.9% of total assets
Liquidity 0=
short-term debt 420.2% · cash 0.4%
Profitability 0-11
return on assets -49.3%
Bankruptcy probability, 12 months
6.1% Elevated
0%0.5%1.5%4%10%≥ 25%

About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.5% (13,427 companies, NACE 41, micro)
Last 24 months 11-2024: 4.4% 12-2024: 4.4%● unchanged vs 11-2024 01-2025: 4.4%● unchanged vs 12-2024 02-2025: 4.4%● unchanged vs 01-2025 03-2025: 4.4%● unchanged vs 02-2025 04-2025: 4.4%● unchanged vs 03-2025 05-2025: 4.4%● unchanged vs 04-2025 06-2025: 4.4%● unchanged vs 05-2025lowest value 07-2025: 4.7%▲ +0.3 percentage points vs 06-2025 08-2025: 5.6%▲ +0.9 percentage points vs 07-2025 09-2025: 5.7%▲ +0.1 percentage points vs 08-2025 10-2025: 5.6%▼ -0.1 percentage points vs 09-2025 11-2025: 6.3%▲ +0.7 percentage points vs 10-2025 12-2025: 6.3%● unchanged vs 11-2025 01-2026: 6.2%▼ -0.1 percentage points vs 12-2025 02-2026: 6.2%● unchanged vs 01-2026 03-2026: 6.2%● unchanged vs 02-2026 04-2026: 6.2%● unchanged vs 03-2026 05-2026: 6.2%● unchanged vs 04-2026 06-2026: 6.2%● unchanged vs 05-2026 07-2026: 6.6%▲ +0.4 percentage points vs 06-2026 08-2026: 7.0%▲ +0.4 percentage points vs 07-2026highest value 09-2026: 6.6%▼ -0.4 percentage points vs 08-2026 10-2026: 6.1%▼ -0.5 percentage points vs 09-2026
No credit on open account
Liquidity insufficient (current ratio 0.21, compared with 0.29 in 2023, below 1; short-term debt: 420.2% and cash: 0.4% of total assets), and equity is negative.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 41, micro): better than 3% on solvency, 3% on liquidity, 5% on profitability and 21% on growth.

The bankruptcy probability was computed on 21-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 0.21, cash €162
NBB · annual accounts
raises risk · Sector: Construction of residential and non-residential buildings (NACE 41)
KBO
lowers risk · Size: total assets €41,212
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · 1 financial year not filed after the legal deadline; latest accounts 68 days late; 3 of the last 3 late
NBB · filings
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024
Equity per financial year
18192021222324
2018 to 2024 · latest year -€135,551
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 83 days later.
NBB · 10 filings
Position against the passed deadline
31-12-2025 year end31-07-2026 deadline22-10-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-10-2025, 68 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
68 days late
2023
82 days late
2022
32 days late
2021
5 days late
2020
5 days late
2019
95 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 48 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2024 · micro…
  2. Appointment: VERBRUGGEN Charles (director)Gazette deed
  3. Annual accounts filedfinancial year 2023 · micro…

Key points

  • Risk: Negative equityfinancial year 2024: debts exceed assets -€135,551 View
  • Risk: 6 loss-making years in a rowloss financial year 2024 -€20,334 View
  • Caution: Among the weakest 5% on solvencysector median 42.3% · 9,840 companies -328.9% View
  • Caution: Accounts not fileddeadline was 31-07-2026 83 days late View
  • Active since 1978founded 01-03-1978 48 years View

By topic

Financials

Financial year
2024
Total assets
€41,212
Loss
-€20,334
Solvency
-328.9%
Total assets▼ 18.1%
Net result
20182024
Go to Financials

Timeline

Events
47
Since
1979
  1. 01-09-2023Annual accounts filed
  2. 05-08-2022Annual accounts filed
  3. 05-08-2021Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company (pre-2019)
Activity
General construction of residential buildingsNACE 41001
Founded
01-03-1978
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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