Equity
Guarde has made a profit without a break since 2010.
Guarde has made a profit without a break since 2010.
Green is investment, beige is depreciation.
The 2017 accounts came 21 days late. The other nine of the last ten were filed on time.
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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, micro). It does better than 78% of them on solvency, 91% on liquidity, 78% on profitability and 72% on growth.
The bankruptcy probability was computed on 06-11-2026 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 31-12-2025.
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).
In July 2024, 34,693 companies had the same profile as Guarde has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of Guarde itself: < 0.1% within 12 months.
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 34,693 companies, not a prediction for Guarde. 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.
Liquidity is ample, with a current ratio of 2.38 (2.71 in 2024), above the usual 1.5. Short-term debt is 27.5% and cash 63% of total assets. 29.7% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 35 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.
| Company | ||||
|---|---|---|---|---|
| Guarde Bruges | €297,203 | €56,102 | 70.3% | - |
| COGEDIM Liège | €298,724 | €56,845 | -5.9% | - |
| Fiets! Kalmthout | €277,470 | €49,502 | 96.8% | - |
| BRASSEURS D'ETOILES Liège | €265,633 | €53,340 | -90.0% | - |
| L.C.G. Zutendaal | €331,848 | €68,138 | -20.1% | - |
| C.V.S. GROUP Zemst | €252,222 | €47,604 | -88.6% | - |
| SCHARIS BEHEER Lanaken | €338,518 | €46,933 | 59.0% | - |
These companies have the same main activity as Guarde: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €252,000 and €339,000, founded between 2008 and 2010.
Guarde files the micro format. That format states no turnover. The gross margin rose from -€3,452 in 2009 to €56,102 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €72,000. Estimated: probably between €63,000 and €93,000.
Higher than 80% of 17,178 companies in 2025.
Higher than 71% of 16,475 companies in 2025.
Higher than 75% of 16,854 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
297,203 | 255,309 | 253,697 | 248,853 | 243,716 | 240,577 | 234,453 | 234,054 | 235,259 | 242,858 | 246,489 | 258,918 | 265,838 | 268,567 | 255,869 | 259,357 | 245,231 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 900 | |
21/28 |
102,519 | 63,262 | 77,188 | 91,114 | 105,039 | 118,965 | 132,891 | 146,816 | 160,742 | 174,668 | 188,594 | 202,519 | 217,917 | 233,315 | 249,712 | 248,571 | 236,157 | |
22/27 |
102,519 | 63,262 | 77,188 | 91,114 | 105,039 | 118,965 | 132,891 | 146,816 | 160,742 | 174,668 | 188,594 | 202,519 | 217,917 | 233,315 | 248,712 | 247,571 | 234,257 | |
22 |
66,044 | 63,262 | 77,188 | 91,114 | 105,039 | 118,965 | 132,891 | 146,816 | 160,742 | 174,668 | 188,594 | 202,519 | 216,445 | 230,371 | 244,296 | 241,683 | 234,257 | |
24 |
36,475 | - | - | - | - | - | - | - | - | - | - | - | 1,472 | 2,944 | 4,416 | 5,888 | - | |
28 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,000 | 1,000 | 1,000 | |
29/58 |
194,683 | 192,047 | 176,508 | 157,740 | 138,676 | 121,612 | 101,563 | 87,237 | 74,517 | 68,190 | 57,896 | 56,399 | 47,921 | 35,252 | 6,156 | 10,786 | 9,074 | |
40/41 |
5,286 | - | - | - | - | - | - | - | - | - | 5,000 | 7,928 | 13,081 | 13,081 | - | 79 | 550 | |
40 |
5,259 | - | - | - | - | - | - | - | - | - | 5,000 | 7,902 | 13,081 | 13,081 | - | - | - | |
41 |
27 | - | - | - | - | - | - | - | - | - | - | 26 | - | - | - | 79 | 550 | |
54/58 |
187,189 | 192,047 | 176,508 | 157,740 | 138,676 | 121,612 | 101,563 | 87,237 | 74,517 | 68,180 | 52,896 | 48,471 | 34,840 | 22,171 | 6,156 | 10,707 | 8,524 | |
490/1 |
2,209 | - | - | - | - | - | - | - | - | 10 | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
297,203 | 255,309 | 253,697 | 248,853 | 243,716 | 240,577 | 234,453 | 234,054 | 235,259 | 242,858 | 246,489 | 258,918 | 265,838 | 268,567 | 255,869 | 259,357 | 245,231 | |
10/15 |
208,964 | 180,413 | 181,451 | 200,964 | 193,365 | 185,686 | 178,094 | 170,981 | 164,290 | 158,129 | 151,890 | 147,224 | 143,694 | 141,485 | 134,613 | 124,923 | 121,548 | |
10/11 |
125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | |
100 |
- | - | - | - | - | - | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | |
13 |
83,964 | 55,413 | 56,451 | 75,964 | 68,365 | 60,686 | 35,685 | 27,281 | 20,590 | 20,280 | 14,041 | 1,120 | 940 | 829 | 485 | - | - | |
130/1 |
- | - | 0 | 3,617 | 3,617 | 3,617 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 3,617 | 2,327 | 1,992 | 1,682 | 1,370 | 1,120 | 940 | 829 | 485 | - | - | |
1311 |
- | - | 0 | 3,617 | 3,617 | 3,617 | - | - | - | - | - | - | - | - | - | - | - | |
133 |
83,964 | 55,413 | 56,451 | 72,346 | 64,748 | 57,069 | 32,068 | 24,955 | 18,598 | 18,598 | 12,671 | - | - | - | - | - | - | |
14 |
0 | 0 | 0 | - | - | - | 17,409 | 18,700 | 18,700 | 12,849 | 12,849 | 21,104 | 17,754 | 15,657 | 9,128 | -77 | -3,452 | |
17/49 |
88,239 | 74,897 | 72,245 | 47,890 | 50,350 | 54,891 | 56,359 | 63,072 | 70,970 | 84,728 | 94,599 | 111,694 | 122,144 | 127,082 | 121,255 | 134,434 | 123,683 | |
42/48 |
81,820 | 70,788 | 70,222 | 46,274 | 48,661 | 54,891 | 56,359 | 63,072 | 70,970 | 84,728 | 94,599 | 111,694 | 122,144 | 127,082 | 121,255 | 134,434 | 123,683 | |
44 |
633 | 210 | 115 | 112 | - | - | - | 2,563 | - | - | 70 | - | - | - | 388 | 8,281 | 24,643 | |
440/4 |
633 | 210 | 115 | 112 | - | - | - | 2,563 | - | - | 70 | - | - | - | 388 | 8,281 | 24,643 | |
45 |
19,699 | 3,450 | 7,216 | 9,122 | 7,621 | 10,048 | 6,399 | 5,315 | 5,231 | 5,287 | 4,004 | 3,623 | 4,308 | 4,796 | 1,428 | 1,113 | - | |
450/3 |
19,699 | 3,450 | 7,216 | 9,122 | 7,621 | 10,048 | 6,399 | 5,315 | 5,231 | 5,287 | 4,004 | 3,623 | 4,308 | 4,796 | 1,428 | 1,113 | - | |
47/48 |
61,489 | 67,128 | 62,891 | 37,040 | 41,040 | 44,843 | 49,961 | 55,195 | 65,739 | 79,441 | 90,524 | 108,070 | 117,837 | 122,286 | 119,440 | 125,040 | 99,040 | |
492/3 |
6,418 | 4,109 | 2,023 | 1,616 | 1,690 | - | - | - | - | 1 | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||
9900 |
56,102 | -2,694 | -3,553 | -1,271 | -1,141 | -1,165 | -988 | -1,066 | -1,517 | -737 | -889 | -921 | -857 | -116 | -897 | -2,895 | -3,452 | |
630 |
5,222 | 13,926 | 13,926 | 13,926 | 13,926 | 13,926 | 13,926 | 13,926 | 13,926 | 13,926 | 13,926 | 15,398 | 15,398 | 15,398 | 15,398 | 21,839 | - | |
640/8 |
4,293 | 387 | 549 | 460 | 459 | 457 | 2,166 | 2,130 | 2,093 | 2,061 | 2,051 | 2,045 | 2,024 | 1,978 | 93 | 93 | - | |
9901 |
46,588 | -17,007 | -18,028 | -15,656 | -15,525 | -15,547 | -17,080 | -17,121 | -17,536 | -16,723 | -16,866 | -18,363 | -18,279 | -17,491 | -16,387 | -24,827 | -3,452 | |
75/76B |
1,531 | 29,515 | 28,776 | 28,776 | 28,781 | 28,835 | 30,562 | 30,527 | 30,470 | 30,494 | 30,553 | 30,544 | 30,437 | 35,592 | 26,197 | 28,348 | - | |
75 |
1,531 | 29,515 | 28,776 | 28,776 | 28,781 | 28,835 | 30,562 | 30,527 | 30,470 | 30,494 | 30,553 | 30,544 | 30,437 | 35,592 | 26,197 | 28,348 | - | |
65/66B |
4,219 | 4,187 | 2,101 | 1,719 | 1,734 | 1,898 | 2,080 | 2,673 | 4,201 | 5,283 | 7,729 | 8,663 | 9,939 | 11,227 | 120 | 146 | - | |
65 |
4,219 | 4,187 | 2,101 | 1,719 | 1,734 | 1,898 | 2,080 | 2,673 | 4,201 | 5,283 | 7,729 | 8,663 | 9,939 | 11,227 | 120 | 146 | - | |
9903 |
43,900 | 8,322 | 8,647 | 11,401 | 11,522 | 11,389 | 11,402 | 10,733 | 8,733 | 8,488 | 5,958 | 3,518 | 2,219 | 6,874 | 9,690 | 3,375 | -3,452 | |
67/77 |
15,349 | 2,248 | 2,308 | 3,802 | 3,843 | 3,798 | 4,289 | 4,041 | 2,572 | 2,249 | 1,292 | -13 | 10 | 2 | - | - | - | |
9904 |
28,551 | 6,074 | 6,339 | 7,598 | 7,679 | 7,592 | 7,113 | 6,691 | 6,161 | 6,239 | 4,666 | 3,531 | 2,208 | 6,872 | 9,690 | 3,375 | -3,452 | |
9905 |
28,551 | 6,074 | 6,339 | 7,598 | 7,679 | 7,592 | 7,113 | 6,691 | 6,161 | 6,239 | 4,666 | 3,531 | 2,208 | 6,872 | 9,690 | 3,375 | -3,452 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
28,551 | 6,074 | 6,339 | 7,598 | 7,679 | 25,001 | 25,813 | 25,391 | 19,010 | 19,088 | 25,770 | 21,285 | 17,865 | 16,000 | 9,613 | -77 | -3,452 | |
791/2 |
0 | 7,113 | 25,851 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
28,551 | 6,074 | 6,339 | 7,598 | 7,679 | 25,001 | 8,404 | 6,691 | 310 | 6,239 | 12,921 | 180 | 111 | 344 | 485 | - | - | |
6920 |
- | - | - | - | - | - | 1,291 | 335 | 310 | 312 | 250 | 180 | 111 | 344 | 485 | - | - | |
6921 |
28,551 | 6,074 | 6,339 | 7,598 | 7,679 | 25,001 | 7,113 | 6,357 | - | 5,927 | 12,671 | - | - | - | - | - | - | |
694/7 |
0 | 7,113 | 25,851 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
695 |
0 | 7,113 | 25,851 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 17-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-07-2026 | 2026-00303044 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00192601 | |
| 31-12-2023 | micro format | 04-06-2024 | 2024-00111026 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00225903 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20094303 | |
| 31-12-2020 | micro format | 18-06-2021 | 2021-21700043 | |
| 31-12-2019 | micro format | 22-06-2020 | 2020-19700361 | |
| 31-12-2018 | micro format | 25-07-2019 | 2019-39100071 | |
| 31-12-2017 | micro format | 21-08-2018 | 2018-47000079 | |
| 31-12-2016 | micro format | 10-07-2017 | 2017-28600384 | |
| 31-12-2015 | abbreviated format | 01-07-2016 | 2016-25000409 | |
| 31-12-2014 | abbreviated format | 08-06-2015 | 2015-15100274 | |
| 31-12-2013 | abbreviated format | 04-07-2014 | 2014-26100485 | |
| 31-12-2012 | abbreviated format | 28-08-2013 | 2013-47400102 | |
| 31-12-2011 | abbreviated format | 22-06-2012 | 2012-19000051 | |
| 31-12-2010 | abbreviated format | 30-08-2011 | 2011-45900499 | |
| 31-12-2009 | abbreviated format | 29-07-2010 | 2010-35200351 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 51,810 | -3,081 | -4,102 | -1,730 | -1,599 | -1,622 | -3,155 | -3,195 | -3,610 | -2,798 | -2,940 | -2,965 | -2,881 | -2,093 | -990 | -2,988 | - | ||
| 33,773 | 20,000 | 20,265 | 21,524 | 21,605 | 21,518 | 21,039 | 20,617 | 20,086 | 20,165 | 18,591 | 18,928 | 17,606 | 22,270 | 25,088 | 25,214 | - | ||
| 44,374 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,000 | 16,539 | 34,253 | 235,257 | ||
| -4,858 | 15,539 | 18,769 | 19,063 | 17,064 | 20,049 | 14,326 | 12,720 | 6,337 | 15,284 | 4,424 | 13,631 | 12,669 | 16,015 | -4,551 | 2,183 | - | ||
| 112,863 | 121,259 | 106,287 | 111,466 | 90,015 | 66,721 | 45,203 | 24,165 | 3,547 | -16,538 | -36,704 | -55,295 | -74,223 | -91,829 | -115,099 | -123,648 | -114,609 | ||
| 70.3% | 70.7% | 71.5% | 80.8% | 79.3% | 77.2% | 76.0% | 73.1% | 69.8% | 65.1% | 61.6% | 56.9% | 54.1% | 52.7% | 52.6% | 48.2% | 49.6% | ||
| 2.38 | 2.71 | 2.51 | 3.41 | 2.85 | 2.22 | 1.80 | 1.38 | 1.05 | 0.80 | 0.61 | 0.50 | 0.39 | 0.28 | 0.05 | 0.08 | 0.07 | ||
| 0.42 | 0.42 | 0.40 | 0.24 | 0.26 | 0.30 | 0.32 | 0.37 | 0.43 | 0.54 | 0.62 | 0.76 | 0.85 | 0.90 | 0.90 | 1.08 | 1.02 | ||
| 13.7% | 3.4% | 3.5% | 3.8% | 4.0% | 4.1% | 4.0% | 3.9% | 3.7% | 3.9% | 3.1% | 2.4% | 1.5% | 4.9% | 7.2% | 2.7% | -2.8% | ||
| 9.6% | 2.4% | 2.5% | 3.1% | 3.2% | 3.2% | 3.0% | 2.9% | 2.6% | 2.6% | 1.9% | 1.4% | 0.8% | 2.6% | 3.8% | 1.3% | -1.4% | ||
| 12.28 | -0.74 | -1.95 | -1.01 | -0.92 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €44,374 | - | - | - | - |
| Financial fixed assets | €0 | - | - | - | - |
| €5,222 | €13,926 | €13,926 | €13,926 | €13,926 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €46,588, after a loss of €17,007 in 2024. It is the highest result since 2009.
Debt's share of the balance-sheet total rises from 29.3% to 29.7%. Equity and debt are higher.
Guarde has no parent and no holdings in its annual accounts. Dominique De Spiegelaere is the only director. Guarde shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 20 January 2009, Guarde was incorporated.1 Dominique De Spiegelaere has served as director since 2009.2 Total assets went from €234,054 in 2018 to €297,203 in 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| Speelmansrei 16 registered office 8000 Bruges | 20-01-2009 | 2.176.644.069 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31804D1303/00E000 | 309 m² | 1 · 139 m² | 13.6 m · 2 |
If something looks wrong or is missing, please tell us.