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Complete company report
Generated 16-08-2026
Active BE 0786.766.010Public limited company

HIGHLINE BRUSSELS SA

Avenue Reine Astrid 92 ·1310 La Hulpe, Belgium· 4 yrs active
Sector: Ontwikkeling van niet-residentiële bouwprojecten (68122)
Conclusion Checked

The computed 12-month bankruptcy probability of HIGHLINE BRUSSELS SA is 0.6% (low). The 2025 annual accounts show equity of €407k and a net result of €-449k. Equity is shrinking by ~37.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 22% of 206 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.
Key figures
Equity €407k
Net result €-449k
Better than sector 22%
Active 4 yrs
Financial profile 5 of 5 axes measured · computed by Checked
Health27Profitability0Solvency13Growth32Stability94
33 / 100

Fragile profile, watch profitability in particular.

All 5 axes are computed from data Checked has read.

Health 27
Profitability 0
Solvency 13
Growth 32
Stability 94
Bankruptcy probability (12 mo) Checked model v1 · free
0.6% Low
0%0,5%1,5%4%10%≥25%
Young company +Lower-failure-rate sector −Lower-risk legal form −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 2 signals
More than 3 years active
Founded in 2022, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags0 events
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Health barometer FY 2025 · computed
27 / 100 Weak
050100
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview4 NBB filings
Annual accounts filed on 10-04-2026 with the NBB · fiscal year 2025 · volledig
€-500k€0€500k€1.00MOperating result 2022: €935k€935kNet result 2022: €535k€535kOperating result 2023: €458k€458kNet result 2023: €-244k€-244kOperating result 2024: €429k€429kNet result 2024: €-435k€-435kOperating result 2025: €277k€277kNet result 2025: €-449k€-449k2022202320242025
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining At this pace, equity would indicatively turn negative around fiscal year 2027, assuming unchanged policy.
€-1.00M€0€1.00M€2.00M2026: €24k (€-42k - €89k)2027: €-382k (€-487k - €-277k)2028: €-787k (€-931k - €-643k)2022: €1.53M2023: €1.29M2024: €856k2025: €407k2022202320242025202620272028
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (full schema)
Metric This company Sector median Position in the sector
Solvency 2.1% 30.2%
better than 22% of 206 sector peers
Net result €-449k €8k
better than 7% of 205 sector peers
Equity €407k €495k
better than 47% of 206 sector peers
Total assets €19.06M €2.42M
better than 80% of 206 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Net profit
€-449k
-3.2% 22-25
Total assets
€19.06M
+5.9% 22-25
Equity
€407k
-52.4% 22-25
Working capital
€408k
-52.4% 22-25
Income taxes
€-7k
- 22-25
Debt
€18.65M
+8.9% 22-25
Debt ≤ 1y
€18.65M
+8.9% 22-25
Debt > 1y
€0
-100.0% 22-25
Show 6 other metrics
Current ratio
1.02
-2.7% 22-25
Quick ratio
0.00
+89.8% 22-25
Solvency
2.1%
-55.1% 22-25
Debt / equity
45.82
+128.8% 22-25
ROE
-110.2%
-117.0% 22-25
ROA
-2.4%
+2.6% 22-25
Figures by fiscal year
Fiscal year2025
Depositvolledig
Revenue-
EBITDA-
Net profit€-449k
Cash flow-
Staff costs-
Income taxes-
Dividends-
Total assets€19.06M
Equity€407k
Debt€18.65M
of which ≤ 1y€18.65M
of which > 1y-
Working capital€408k
Employees (FTE)-
Ratios (computed)
2025
Current ratio1.02
Quick ratio0.00
Working capital ratio2.1%
Solvency2.1%
Debt / equity45.82
Long-term debt ratio-
Interest coverage-
Gross margin-
Net margin-
ROA-2.4%
ROE-110.2%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover0.00
Days inventory (DSI)-
Balance-sheet composition 2025
Full annual accounts (18 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2025
Balance sheet, Assets
TOTAL ASSETS 20/58€19.06M
Current assets 29/58€19.06M
Stocks & contracts in progress 3€19.00M
Amounts receivable within one year 40/41€10k
Cash & bank 54/58€7k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€19.06M
Equity 10/15€407k
Contributions / capital 10/11€1.00M
Reserves 13€27k
Accumulated profits (losses) 14€-620k
Amounts payable 17/49€18.65M
Amounts payable within one year 42/48€18.65M
Trade debts payable within one year 44€57k
Income statement
Operating result 9901€277k
Financial charges 65€726k
Result before taxes 9903€-449k
Net result for the period 9904€-449k
Result to be appropriated 9905€-449k
This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 11 directors
Current directors & mandates
  • Suzy DENYS
    Director
    State Gazette act 25091057 (22-07-2025)
    Current
    22-07-2025 → present
  • Alexander HODAC
    Director
    State Gazette act 25015978 (30-01-2025)
    Current
    30-01-2025 → present
  • ATENOR SALegal entity
    Director
    State Gazette act 24099795 (03-07-2024)
    Current
    18-06-2024 → present
  • Caroline VANDERSTRAETEN
    Director
    State Gazette act 24099795 (03-07-2024)
    Current
    18-06-2024 → present
Former directors (7)
  • Sheelam CHADHA
    Director
    State Gazette act 25048639 (14-04-2025)
    Former
    - → 31-01-2025
  • Patrick BECKERS
    Director
    State Gazette act 25015978 (30-01-2025)
    Former
    - → 30-01-2025
  • Vincent DE VOS
    Director
    State Gazette act 24078864 (23-05-2024)
    Former
    23-05-2024 → 30-01-2025
    2 events
    • 30-01-2025 Resigned· Director
    • 23-05-2024 Appointed· Director
  • William LERINCKX
    Director
    State Gazette act 25015978 (30-01-2025)
    Former
    - → 31-10-2024
  • Stéphan SONNEVILLE
    Director
    State Gazette act 24099795 (03-07-2024)
    Former
    - → 18-06-2024
    2 events
    • 18-06-2024 Resigned· Director
    • 18-06-2024 Resigned· Managing director
2 further former directors in the mandate history. Available in Kantoor S. See plans →
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Legal Structure
NACE primary Ontwikkeling van niet-residentiële bouwprojecten(68122)
Legal form Public limited company(014)
Incorporation02-06-2022
StatusActive
Postal code1310
Establishment units 1 location
HIGHLINE BRUSSELS
Avenue Reine Astrid 92, 1310 La HulpeOntwikkeling van residentiële bouwprojecten
since 20222.331.737.963
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
25050C0039/00K000 Wallonia 10.1 ha 1 · 113 m² 14.1 m · 3 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 10 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026
10-04-2026
NBB filing Annual accounts filed
fiscal year 2025 · volledig
2025
22-07-2025
State Gazette act Director changes
14-04-2025
State Gazette act Director changes
11-04-2025
NBB filing Annual accounts filed
fiscal year 2024 · volledig
30-01-2025
State Gazette act Director changes
2024
03-07-2024
State Gazette act Director changes
12-06-2024
State Gazette act Director changes
23-05-2024
State Gazette act Director changes
12-04-2024
NBB filing Annual accounts filed
fiscal year 2023 · volledig
2023
12-04-2023
NBB filing Annual accounts filed
fiscal year 2022 · volledig
Belgian State Gazette reading coverage 0 of 8 acts read

We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 6 acts
All acts · 6 updated 1 year ago
2025
22-07-2025 Suzy DENYS appointed as director Director changes
  • Suzy DENYS, Bestuurder
Technical details 
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      "reason": null,
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      "compensated": false,
      "effective_date": null,
      "evidence_quote": "Les actionnaires d\u00E9cident de nommer Madame Suzy DENYS en qualit\u00E9 d\u0027administrateur B de la Soci\u00E9t\u00E9 \u00E0 titre gratuit, avec effet imm\u00E9diat.",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "until_agm_year",
        "value": "2027"
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      "rep_rotation_new_rep": null,
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    {
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      "kind": "decharge_granted",
      "role": "commissaris",
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    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": null,
    "filing_date": "2025-06-30",
    "act_kind_objet": "Objet de l\u0027acte:"
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  "decisions": [
    {
      "body": "enig_aandeelhouder_schriftelijk",
      "date": "2025-06-30",
      "unanimous": null
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  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0786.766.010",
    "name_full": "HIGHLINE BRUSSELS",
    "legal_form": "SA"
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  "publication_proxy": {
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    "org_rep_person_name": null,
    "person_role_at_subject": "Mandataire"
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
14-04-2025 1 director appointed, 2 resigning Director changes
  • Vera FRANCEUS, Dagelijks bestuur
  • Sheelam CHADHA, Bestuurder
  • Stéphan SONNEVILLE, Gedelegeerd bestuurder
Technical details 
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      "kind": "director_out",
      "role": "administrateur",
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      },
      "reason": "end_of_term",
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": "2025-01-31",
      "evidence_quote": "Les actionnaires prennent acte de la d\u00E9mission de Madame Sheelam CHADHA de son mandat d\u0027administrateur de cat\u00E9gorie B avec effet au 31 janvier 2025. Les actionnaires lui donnent d\u00E9charge pour tous les actes intervenus jusqu\u0027\u00E0 cette date dans le cadre de son mandat.",
      "decharge_status": "granted",
      "mandate_duration": {
        "kind": "until_date",
        "value": "2025-01-31"
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "director_out",
      "role": "administrateur d\u00E9l\u00E9gu\u00E9",
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        "name": "St\u00E9phan SONNEVILLE",
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      },
      "reason": "end_of_term",
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": "2024-06-18",
      "evidence_quote": "Les actionnaires confirment, aux fins de publication aupr\u00E8s de la Banque Carrefour des Entreprises, la cessation du mandat d\u0027administrateur d\u00E9l\u00E9gu\u00E9 de Monsieur St\u00E9phan SONNEVILLE, effective \u00E0 partir du 18 juin 2024, co\u00EFncidant avec la fin de son mandat d\u0027administrateur.",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "until_date",
        "value": "2024-06-18"
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      "rep_rotation_new_rep": null,
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      "effective_date_qualifier": "immediate"
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    {
      "kind": "decharge_granted",
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      "evidence_quote": "Les actionnaires lui donnent d\u00E9charge pour tous les actes intervenus jusqu\u0027\u00E0 cette date dans le cadre de son mandat.",
      "decharge_status": "granted",
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
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    },
    {
      "kind": "delegation_dagelijks_bestuur_in",
      "role": "dagelijks_bestuur",
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      },
      "reason": null,
      "subkind": "additional",
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "Les actionnaires donnent procuration \u00E0 Madame Vera FRANCEUS, avec pouvoir de subd\u00E9l\u00E9gation, afin de poser tous les actes qui pourraient \u00EAtre n\u00E9cessaires ou utiles relatifs aux formalit\u00E9s (en ce compris, sans y \u00EAtre limit\u00E9, l\u0027\u00E9tablissement et la signature de tous les documents et formulaires) en vue ",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "indefinite",
        "value": null
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
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    }
  ],
  "notary": {
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  },
  "act_meta": {
    "language": "mixed",
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    "filing_date": "2025-03-27",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decisions": [
    {
      "body": "algemene_vergadering",
      "date": "2025-03-27",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0786.766.010",
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}
30-01-2025 1 director appointed, 3 resigning Director changes
  • Alexander HODAC, Bestuurder
  • William LERINCKX, Bestuurder
  • Vincent DE VOS, Bestuurder
  • Patrick BECKERS, Bestuurder
Technical details 
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  "events": [
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      "kind": "director_out",
      "role": "administrateur",
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      "effective_date": "2024-10-31",
      "evidence_quote": "Les Actionnaires prennent acte de la d\u00E9mission de Monsieur William LERINCKX de son mandat d\u0027Administrateur de cat\u00E9gorie A, avec effet au 31 octobre 2024. Les Actionnaires lui donnent d\u00E9charge pour tous les actes intervenus jusqu\u0027\u00E0 cette date dans le cadre de son mandat.",
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      "decharge_status": "granted",
      "mandate_duration": null,
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    },
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        "name": "Alexander HODAC",
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      },
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      "compensated": false,
      "effective_date": null,
      "evidence_quote": "Les Actionnaires d\u00E9cident de nommer Monsieur Alexander HODAC en qualit\u00E9 d\u0027Administrateur de cat\u00E9gorie A, avec effet imm\u00E9diat et pour une dur\u00E9e de 3 ans. Ce mandat viendra \u00E0 \u00E9ch\u00E9ance \u00E0 l\u0027issue de l\u0027Assembl\u00E9e G\u00E9n\u00E9rale Ordinaire qui statuera sur les comptes annuels au 31 d\u00E9cembre 2027 et sera exerc\u00E9 \u00E0 ",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": "3"
      },
      "rep_rotation_new_rep": null,
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    },
    {
      "kind": "decharge_granted",
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        "name": "Patrick BECKERS",
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      },
      "reason": null,
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      "statutory": "statutair",
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    },
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        "birth_place": null
      },
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      "subkind": "additional",
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  },
  "act_meta": {
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    "filing_date": "2025-01-20",
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  "decisions": [
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      "body": "enig_aandeelhouder_schriftelijk",
      "date": "2025-01-09",
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2024
03-07-2024 3 directors appointed, 2 resigning Director changes
  • Caroline VANDERSTRAETEN, Bestuurder
  • ATENOR SA, Bestuurder
  • Vera FRANCEUS, Dagelijks bestuur
  • Stéphan SONNEVILLE, Bestuurder
  • Stéphan SONNEVILLE, Dagelijks bestuur
Technical details 
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      "reason": "de_plein_droit_dissolution",
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      "effective_date": "2024-06-18",
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12-06-2024 2 directors appointed, 1 resigning Director changes
  • Christophe PELZER, Commissaris
  • Vera FRANCEUS, Gedelegeerd bestuurder
  • Carlo-Sébastien D'ADDARIO, Commissaris
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23-05-2024 2 directors appointed, 2 resigning Director changes
  • Vincent DE VOS, Bestuurder
  • Vera FRANCEUS
  • Laurent JACQUEMART, Bestuurder
  • Eric BLOYAERT, Bestuurder
Technical details 
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      "evidence_quote": "Les Actionnaires donnent procuration \u00E0 Madame Vera FRANCEUS afin d\u0027accomplir toutes les formalit\u00E9s relatives \u00E0 la publication dans les annexes du Moniteur belge des d\u00E9cisions prises ce jour",
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      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": null,
    "filing_date": "2024-03-28",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decisions": [
    {
      "body": "algemene_vergadering",
      "date": "2024-03-28",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0786.766.010",
    "name_full": "HIGHLINE BRUSSELS",
    "legal_form": "SA"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Vera Franceus",
    "org_rep_person_name": null,
    "person_role_at_subject": "Mandataire"
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
Credit advice verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
Company registry (CBE) Crossroads Bank
Activities
Ontwikkeling van niet-residentiële bouwprojecten41102Ontwikkeling van niet-residentiële bouwprojecten68122Ontwikkeling van residentiële bouwprojecten41101Ontwikkeling van residentiële bouwprojecten68121
Primary activity highlighted.
Names & trade names
Legal nameFR HIGHLINE BRUSSELS SA
Registered office
Avenue Reine Astrid 92
1310 La Hulpe, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative