GREENSCAPE
ActiveSummary
GREENSCAPE has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €12,528 and a net result of €6,247. Equity is shrinking by ~31.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 27% of 19366 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability40▲+40
Solvency31▲+3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.99 against 0.93 in 2023; short-term debt: 91.4% and cash: 0% of total assets), and 94% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 2024Solvency, return and age of the figures
Solvency
6%
Return on assets
3%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-08-2025, 20 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
20 d late
2023
35 d late
2022
151 d late
2021
95 d late
2020
104 d late
2019
108 d 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 86 days after 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 (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies How does this company compare with its sector?Sector benchmark
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€12,528▲ 99.5%
2023 · €6,280
Total assets
€207,385▼ 12.6%
2023 · €237,295
Net result
€6,247
2023 · -€61,487
Working capital
-€1,944▲ 87.1%
2023 · -€15,098
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€63,468▼ 12,411%€7,080-€23,834-€50,332▼ 111%€17,610
Net result-€66,060below the sector's middle half▼ 719%€672within the sector's middle half-€31,783below the sector's middle half-€61,487below the sector's middle half▼ 93.5%€6,247within the sector's middle half
Equity€98,879within the sector's middle half▼ 46.6%€99,550within the sector's middle half▲ 0.7%€67,768within the sector's middle half▼ 31.9%€6,280below the sector's middle half▼ 90.7%€12,528within the sector's middle half▲ 99.5%
Total assets€249,175within the sector's middle half▼ 16.4%€289,162within the sector's middle half▲ 16.0%€270,872within the sector's middle half▼ 6.3%€237,295within the sector's middle half▼ 12.4%€207,385within the sector's middle half▼ 12.6%
Debt€150,296▲ 32.9%€189,611▲ 26.2%€203,104▲ 7.1%€231,014▲ 13.7%€194,857▼ 15.7%
Working capital€69,949within the sector's middle half▼ 59.3%€64,610within the sector's middle half▼ 7.6%€33,643within the sector's middle half▼ 47.9%-€15,098within the sector's middle half-€1,944within the sector's middle half▲ 87.1%
Solvency39.7%within the sector's middle half▼ 22.4pp34.4%within the sector's middle half▼ 5.3pp25.0%within the sector's middle half▼ 9.4pp2.6%below the sector's middle half▼ 22.4pp6.0%within the sector's middle half▲ 3.4pp
Current ratio1.51within the sector's middle half▼ 1.651.34within the sector's middle half▼ 0.171.17within the sector's middle half▼ 0.170.93within the sector's middle half▼ 0.230.99within the sector's middle half▲ 0.06
Return on assets (ROA)-26.5%below the sector's middle half▼ 23.8pp0.2%within the sector's middle half▲ 26.7pp-11.7%below the sector's middle half▼ 12.0pp-25.9%below the sector's middle half▼ 14.2pp3.0%within the sector's middle half▲ 28.9pp
Staff (FTE)3.3above the sector's middle half▲ 13.8%3▼ 9.1%3.6▲ 20.0%3.6=3.4▼ 5.6%
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 returns to profit in 2024: €17,610 after a loss of €50,332 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €207,385
Fixed assets
€19,879 ▼ 21.2%
Current assets
€187,506 ▼ 11.6%
Equity and liabilities €207,385
Equity
€12,528 ▲ 99.5%
Debt
€194,857 ▼ 15.7%
Debt's share of the balance-sheet total falls from 97.4% to 94.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€22,958▲
2023 · -€44,664
Cash flow
€11,595▲
2023 · -€55,819
Quick ratio
0.94▲
2023 · 0.88
Debt to equity
15.55▼
2023 · 36.78
ROE
49.9%▲
2023 · -979.0%
Interest coverage
2.12▲
2023 · -4.17
Debt ≤ 1 year
€189,450▼
2023 · €227,165
Income taxes
€558▲
2023 · €526
Staff costs
€226,180▼
2023 · €238,489
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,082 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
0.8%
went bankrupt
2.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,082 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €15,788 | - | - | - |
| Remuneration, social security and pensions62 | - | €161,878 | €212,073 | €238,489 | €226,180 | ▼ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,042 | €7,082 | €8,112 | €5,668 | €5,348 | ▼ 5.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €1,260 | - | - |
| Other operating charges640/8 | - | €1,061 | €1,600 | €1,050 | €1,260 | ▲ 19.9% |
| Non-recurring operating charges66A | - | €3,757 | - | €3,611 | - | - |
| Gross operating margin9900 | €96,662 | €180,857 | €197,951 | €199,746 | €250,398 | ▲ 25.4% |
| Operating profit (loss)9901 | -€63,468 | €7,080 | -€23,834 | -€50,332 | €17,610 | ▲ 135% |
| Financial income75/76B | - | €3,271 | €3,271 | €94 | €39 | ▼ 58.8% |
| Recurring financial income75 | €3,713 | €3,271 | €3,271 | €94 | €39 | ▼ 58.8% |
| Financial charges65/66B | - | €9,229 | €10,723 | €10,723 | €10,844 | ▲ 1.1% |
| Recurring financial charges65 | €5,854 | €9,229 | €10,723 | €10,723 | €10,844 | ▲ 1.1% |
| Profit (loss) for the period before taxes9903 | -€65,610 | €1,122 | -€31,286 | -€60,961 | €6,805 | ▲ 111% |
| Income taxes67/77 | €450 | €450 | €497 | €526 | €558 | ▲ 5.9% |
| Profit (loss) for the period9904 | -€66,060 | €672 | -€31,783 | -€61,487 | €6,247 | ▲ 110% |
| Profit (loss) for the period to be appropriated9905 | -€66,060 | €672 | -€31,783 | -€61,487 | €6,247 | ▲ 110% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €249,175 | €289,162 | €270,872 | €237,295 | €207,385 | ▼ 12.6% |
| Fixed assets21/28 | €42,927 | €35,923 | €36,963 | €25,227 | €19,879 | ▼ 21.2% |
| Intangible fixed assets21 | €6,250 | €5,000 | €3,750 | €2,500 | €1,250 | ▼ 50.0% |
| Tangible fixed assets22/27 | €31,105 | €25,352 | €24,191 | €13,705 | €9,608 | ▼ 29.9% |
| Plant, machinery and equipment23 | - | €1,701 | €1,968 | €807 | €338 | ▼ 58.1% |
| Furniture and vehicles24 | - | €5,154 | €4,946 | €3,457 | €2,173 | ▼ 37.2% |
| Other tangible fixed assets26 | - | €18,496 | €17,277 | €9,441 | €7,097 | ▼ 24.8% |
| Financial fixed assets28 | €5,572 | €5,572 | €9,022 | €9,022 | €9,022 | = |
| Current assets29/58 | €206,248 | €253,238 | €233,909 | €212,067 | €187,506 | ▼ 11.6% |
| Amounts receivable after more than one year29 | - | €151,990 | €151,990 | €39,990 | €39,990 | = |
| Other amounts receivable291 | - | €151,990 | €151,990 | €39,990 | €39,990 | = |
| Stocks and contracts in progress3 | €12,353 | €6,177 | €13,872 | €12,635 | €10,323 | ▼ 18.3% |
| Stocks30/36 | - | €6,177 | €13,872 | €12,635 | €10,323 | ▼ 18.3% |
| Amounts receivable within one year40/41 | €38,406 | €92,169 | €49,926 | €137,699 | €119,505 | ▼ 13.2% |
| Trade receivables40 | - | €77,772 | €40,005 | €128,074 | €108,641 | ▼ 15.2% |
| Other amounts receivable41 | - | €14,397 | €9,921 | €9,624 | €10,864 | ▲ 12.9% |
| Cash at bank and in hand54/58 | €76 | €8 | €8 | €4,754 | €8 | ▼ 99.8% |
| Deferred charges and accrued income490/1 | - | €2,894 | €18,113 | €16,991 | €17,680 | ▲ 4.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €249,175 | €289,162 | €270,872 | €237,295 | €207,385 | ▼ 12.6% |
| Equity10/15 | €98,879 | €99,550 | €67,768 | €6,280 | €12,528 | ▲ 99.5% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Outside capital11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Other1109/19 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €146,259 | €146,259 | €146,259 | €146,259 | €146,259 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | - | - |
| Tax-exempt reserves132 | - | €10,595 | €10,595 | €10,595 | €10,595 | = |
| Distributable reserves133 | - | €133,805 | €133,805 | €133,805 | €135,664 | ▲ 1.4% |
| Profit (loss) carried forward14 | -€65,972 | -€65,301 | -€97,084 | -€158,571 | -€152,324 | ▲ 3.9% |
| Amounts payable17/49 | €150,296 | €189,611 | €203,104 | €231,014 | €194,857 | ▼ 15.7% |
| Amounts payable after more than one year17 | €13,997 | - | - | - | - | - |
| Amounts payable within one year42/48 | €136,299 | €188,628 | €200,266 | €227,165 | €189,450 | ▼ 16.6% |
| Current portion of amounts payable after more than one year42 | - | €13,997 | - | - | - | - |
| Financial debts43 | - | €6,791 | €15,027 | €33 | €23,415 | ▲ 71,374% |
| Credit institutions430/8 | - | €6,791 | €15,027 | €33 | €23,415 | ▲ 71,374% |
| Trade debts44 | €13,825 | €32,006 | €59,343 | €135,744 | €98,000 | ▼ 27.8% |
| Suppliers440/4 | - | €32,006 | €59,343 | €135,744 | €98,000 | ▼ 27.8% |
| Advances received on contracts in progress46 | - | €62,500 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €31,374 | €24,191 | €44,643 | €27,204 | ▼ 39.1% |
| Taxes450/3 | - | €487 | €1,018 | €1,502 | €2,279 | ▲ 51.8% |
| Remuneration and social security454/9 | - | €30,887 | €23,173 | €43,141 | €24,925 | ▼ 42.2% |
| Other amounts payable47/48 | - | €41,960 | €101,705 | €46,746 | €40,831 | ▼ 12.7% |
| Accrued charges and deferred income492/3 | - | €983 | €2,838 | €3,849 | €5,407 | ▲ 40.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€66,060 | €672 | -€31,783 | -€61,487 | €6,247 | ▲ 110% |
| + Depreciation and write-downs630 | €11,042 | €7,082 | €8,112 | €5,668 | €5,348 | ▼ 5.7% |
| Operating cash flow (approximation) | -€55,018 | €7,753 | -€23,671 | -€55,819 | €11,595 | ▲ 121% |
| Investment in fixed assets (approximation) | - | -€78 | -€9,152 | €6,067 | €0 | ▼ 100% |
| Change in cash | - | -€68 | €0 | €4,745 | -€4,745 | ▼ 200% |
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
2025
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Back to profitnet €6,247
Net result €6,247 after 2 loss-making years.
04-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 35 days late
2023
29-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 151 days late
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 95 days late
16-03
State Gazette act
Director resignation · Director appointment
Permanent representative · Board composition
2021
31-12
Financial
Back to profitnet €672
Net result €672 after 2 loss-making years.
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 104 days late
2020
31-12
Financial
Weakest financial yearnet -€66,060
Net result drops to -€66,060, the lowest in the series; recovery starts the following year.
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 108 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
20-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 81 days late
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 122 days late
Financial milestoneState Gazette actNBB 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2012
Ground area
544 m²
Building footprint
347 m²
Volume, LiDAR
2,750 m³
Parcel 11807G0126/02B020, Flanders · tallest building 15.7 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Azull
since 2012unit no. 2.233.136.077
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G0126/02B020 | Flanders | 544 m² | 1 · 347 m² | 15.7 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.
Structure & network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
CARNET
Shared director
→
Board mandates elsewhere
1 board mandateBoard mandates of this companythis company sits on their board1
Subsidies and aid
Flemish government
2023 to 2025 · 3 entries · €681 awarded · €606 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | €75 | €0 |
| 2024 | 1 | €135 | €135 |
| 2023 | 1 | €471 | €471 |
Similar companies · same sector, comparable size
ALL IN IMMO
BE 0717.764.168
Thuin · Eq €12,514
IMMORIGINS
BE 1008.240.566
Elsene · Eq €12,504
GESTION ET TRANSACTION IMMOBILIERE
BE 0442.822.024
Schaarbeek · Eq €12,552
Hades Consulting
BE 0822.208.523
Sint-Niklaas · Eq €12,496
VAN DER STAPPEN VASTGOED & ONTWIKKELING
BE 0742.799.967
Ravels · Eq €12,496
Of 11,749 companies in this sector we hold annual accounts for 6,910. 3,278 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded23-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
46499Wholesale of other household goods
70200Business and other management consultancy
82100Office administrative and support services
Contact
Website
www.azull.be
E-mail
mail@azull.info
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454210220
Also
9925:BE0454210220
Registered
24-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.