Losses
-€1.7m in four years
Every financial year from 2022 to 2025 closed with a loss. 2024 was the heaviest.
FLAVUS
Lifetime
19 annual accounts with figures on one time axis, 38 filings since 1988peak €3.8m (2025)
€3.8m▲ 53.2%
lowest -€717,829 (2024)
-€711,668▲ €6,161
peak €51.9m (2025)
€51.9m▲ 3.0%
€65.8m▲ 31.5%
peak 0.5 FTE (2012)
-not published
Board6 names since 2021
4 directorsLies Van Overstraete and 3 others
Documentsfilings and deeds
24-02-20264 days before the deadline
2025abbreviated format
Gross margin from €2.5m to €3.8mLoss of €711,668Debts from €50.0m to €65.8m1 establishment registeredInvestments €17.7mCash from €1.4m to €2.1m
Key points
from the 2025 annual accountsTurnover
≈ €4.6m estimated
The abbreviated format states no turnover.
Debts
€65.8m ▲ 31.5%
Debts rose by €15.8m in 2025.
Investments
€14.6m 7.3 × depreciation
Green is investment, beige is depreciation. Machinery stands 42.2% higher than in 2024.
Filings
38 annual accounts since 1988
The last five annual accounts were filed 0 to 66 days before the end of the period.
Position in the sector
-€711,668
Lower net result than 95% of companies in real estate. Sector median €9,988 · 11,288 companies.
Checked score
94
Excellent
Financially stronger than 54% of large 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: 0.2% across 317 companies (NACE 68, large).
Fewer than 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%▼ -0.1 percentage points 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 06-2025lowest value
08-2025: < 0.1%● unchanged vs 07-2025lowest value
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: 0.1%▲ +0.1 percentage points vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026highest value
03-2026: < 0.1%▼ -0.1 percentage points 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 0.25, cash €2.1m
lowers risk
Size: total assets €117.7m
Founded in 1987
Figures for financial year 2025 (filed on 26-02-2026)
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, large). It does better than 63% of them on solvency, 70% on liquidity, 23% on profitability and 57% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-07-2025.
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, 151 companies had the same profile as FLAVUS has now. Each dot is one company, two years later.
94.0%
were still trading
4.0%
stopped another way
1.3%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FLAVUS itself is lower: 0.1% within 12 months. It rests on far more data about FLAVUS than the profile alone.
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 151 companies, not a prediction for FLAVUS. 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 €4,850,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.25 (0.1 in 2024), below 1. Short-term debt is 10.4% and cash 1.8% of total assets. 55.9% of the assets are financed with debt and provisions.
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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 31-07-2025 was due by 28-02-2026 and was filed on 24-02-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 days early
2024
50 days early
2023
20 days early
2022
on the day
2021
66 days early
2020
2 days early
2019
44 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 27 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 31-07-2026 is due by 28-02-2027. Nothing is late today. The company usually files around 9 February (4 of the last 5 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
31-07-2026 year end10-11-2026 today28-02-2027 deadline
Board and ownership
VD
van Dobben de Bruyn Kim
Director
VD
van Dobben de Bruyn Nicolaas
Director
Shares in 1 company, CASE YELLOW
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0432028694
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden · Leuven
New establishment in Leuven
Herbert Hooverplein 3
Project notification acknowledged
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Leuven
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FLAVUS Geel | €117.7m | €3.8m | 44.1% | - |
| COBERNA Brasschaat | €135.5m | €4.5m | 73.1% | - |
| PHENIX Woluwe-Saint-Lambert | €124.2m | €3.9m | 12.4% | 3 |
| MICHAEL OSTLUND PROPERTY Brussels | €92.5m | €4.3m | 12.3% | - |
| Life Tree Estate Sint-Martens-Latem | €92.0m | €3.2m | 19.6% | 0 |
| MIMMO Waregem | €92.7m | €2.8m | 17.7% | 0.5 |
| HUIS RIJSWIJCK Antwerp | €73.6m | €6.0m | 4.8% | 5.1 |
These companies have the same main activity as FLAVUS: 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 €74m and €136m, founded between 1982 and 1992.
Official details
Source: KBO- Status
- Active since 22-09-1987Normal situation
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203
- Establishment units
- 2.102.573.2852440 Geel, since 20-10-1987
- 2.327.960.9033012 Leuven, since 09-02-2022and 1 other
- Financial year end
- 31 July
- Peppol
- Reachable since 26-08-2026
Annual accounts to 31-07-2025
- €117.7m▲ 17.2%
- Filing
- Filed on 24-02-2026, 4 days before the end of the filing period
Insights on FLAVUS
FLAVUS files the abbreviated format. That format states no turnover. The gross margin rose from €131,991 in 2007 to €3.8m in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets.
In January 2024, the Official Gazette published the appointment of vAN DOBBEN dE BRUIJN Kim 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 FLAVUS
- What is the company number of FLAVUS?
- The company number of FLAVUS is 0432.028.694. The VAT number is the same number with BE in front: BE 0432.028.694.
- Where is FLAVUS based?
- The registered office is at Drijhoek 3, 2440 Geel.Company details
- What does FLAVUS 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 FLAVUS?
- FLAVUS is a public limited company (NV).
- When was FLAVUS founded?
- FLAVUS was founded on 22-09-1987.
- Is FLAVUS still active?
- Yes, FLAVUS is an active enterprise in the KBO register.
- What is the turnover of FLAVUS?
- The turnover in financial year 2025 is ≈ €4.6m. This figure is estimated from the gross margin of €3.8m and 32 comparable companies (NACE 68203). It probably lies between €3.8m and €5.4m.Financials
- Is FLAVUS profitable?
- In financial year 2025, FLAVUS made a loss of €711,668.
- Where can I find the annual accounts of FLAVUS?
- FLAVUS filed 38 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FLAVUS due?
- FLAVUS must file the annual accounts for financial year 2026 by 28-02-2027.Timeline
Next steps
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