Losses
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
The last four annual accounts were filed 11 to 133 days before the end of the period.
Higher solvency than 95% of companies in real estate. Sector median 28.9% · 17,175 companies.
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 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 91% of them on solvency, 83% on liquidity, 11% on profitability and 29% 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 30-06-2025.
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, 3,440 companies had the same profile as JAVA Investments has now. Each dot stands for 9 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of JAVA Investments itself is lower: 0.1% within 12 months. It rests on far more data about JAVA Investments than the profile alone.
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 3,440 companies, not a prediction for JAVA Investments. 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 23.59 (22.1 in 2024), above the usual 1.5. Short-term debt is 4.2% and cash 19.7% of total assets. 4.4% 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 4 accounts on average 68 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 | ||||
|---|---|---|---|---|
| JAVA Investments Middelkerke | €182,895 | -€16,347 | 95.6% | - |
| ANRA Construct Anzegem | €162,503 | -€5,538 | -6.3% | - |
| SYTKO-construct Ostend | €158,981 | -€28,082 | 7.7% | - |
| Biyout Roeselare | €233,883 | -€10,483 | -10.2% | - |
| KIRO-PROJECTS Lebbeke | €183,586 | -€3,665 | -29.3% | - |
| ARE Invest Malmedy | €167,844 | -€1,082 | 16.6% | - |
| Kouters Development Ghent | €206,324 | -€5,303 | 52.3% | - |
These companies have the same main activity as JAVA Investments: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €159,000 and €234,000, founded in 2021.
JAVA Investments files the micro format. That format states no turnover. The gross margin fell from -€8,965 in 2022 to -€16,347 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.
Higher than 95% of 17,175 companies in 2025.
Higher than 95% of 16,472 companies in 2025.
Higher than 10% of 16,851 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
182,895 | 343,553 | 519,179 | 100,867 | |
21/28 |
533 | 10,867 | 11,201 | 11,535 | |
22/27 |
533 | 867 | 1,201 | 1,535 | |
24 |
533 | 867 | 1,201 | 1,535 | |
28 |
- | 10,000 | 10,000 | 10,000 | |
29/58 |
182,362 | 332,686 | 507,978 | 89,332 | |
3 |
132,240 | 80,000 | - | 68,994 | |
30/36 |
132,240 | 80,000 | - | 68,994 | |
40/41 |
14,110 | - | 35,504 | 12,997 | |
40 |
13,500 | - | 35,504 | - | |
41 |
610 | - | - | 12,997 | |
54/58 |
36,013 | 252,686 | 472,473 | 7,341 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
182,895 | 343,553 | 519,179 | 100,867 | |
10/15 |
174,790 | 192,716 | 235,108 | -4,151 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | |
13 |
239,259 | 239,259 | 239,259 | - | |
133 |
239,259 | 239,259 | 239,259 | - | |
14 |
-69,469 | -51,543 | -9,151 | -9,151 | |
17/49 |
8,105 | 150,837 | 284,070 | 105,017 | |
17 |
375 | 135,785 | 135,131 | 105,017 | |
178/9 |
375 | 135,785 | 135,131 | 105,017 | |
42/48 |
7,731 | 15,052 | 148,939 | - | |
44 |
4,651 | 8,742 | 10,118 | - | |
440/4 |
4,651 | 8,742 | 10,118 | - | |
45 |
3,080 | 6,310 | 138,821 | - | |
450/3 |
3,080 | 6,310 | 138,821 | - | |
| Income statement | |||||
9900 |
-16,347 | -43,652 | 360,788 | -8,965 | |
630 |
334 | 334 | 334 | 135 | |
640/8 |
976 | 9,796 | 112 | - | |
9901 |
-17,657 | -53,782 | 360,342 | -9,100 | |
75/76B |
28 | 4,393 | 4,357 | - | |
75 |
28 | 4,393 | 4,357 | - | |
65/66B |
298 | 3,841 | 9,192 | 51 | |
65 |
298 | 3,841 | 9,192 | 51 | |
9903 |
-17,927 | -53,230 | 355,507 | -9,151 | |
67/77 |
- | -10,838 | 116,248 | - | |
9904 |
-17,927 | -42,392 | 239,259 | -9,151 | |
9905 |
-17,927 | -42,392 | 239,259 | -9,151 | |
| Appropriation of the result | |||||
9906 |
-69,469 | -51,543 | 230,108 | -9,151 | |
14P |
-51,543 | -9,151 | -9,151 | - | |
691/2 |
- | - | 239,259 | - | |
6921 |
- | - | 239,259 | - | |
| Document | |||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 28-11-2025.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| -17,323 | -53,448 | 360,676 | -8,965 | ||
| -17,593 | -42,058 | 239,593 | -9,015 | ||
| -10,000 | 0 | 0 | 11,670 | ||
| -216,674 | -219,787 | 465,132 | - | ||
| 174,632 | 317,635 | 359,039 | - | ||
| 95.6% | 56.1% | 45.3% | -4.1% | ||
| 23.59 | 22.10 | 3.41 | - | ||
| 6.48 | 16.79 | 3.41 | - | ||
| 0.05 | 0.78 | 1.21 | - | ||
| -10.3% | -22.0% | 101.8% | - | ||
| -9.8% | -12.3% | 46.1% | -9.1% | ||
| -58.15 | -13.92 | 39.24 | -177.45 |
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 | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,670 |
| Financial fixed assets | - | - | - | €10,000 |
| €334 | €334 | €334 | €135 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €17,657, smaller than the loss of €53,782 in 2024.
Debt's share of the balance-sheet total falls from 43.9% to 4.4%. Equity and debt are lower.
JAVA Investments has no parent and no holdings in its annual accounts. VANHAEKENDOVER Stephane is the only director. JAVA Investments shares no director with another company.
| AUDI-OCULI
registered office since 28-10-2009 · founded in 2009 |
total assets €967,591 (2025) 0820.653.058 |
| VHD INVEST
registered office since 19-11-2010 · founded in 2010 |
total assets €644,102 (2025) 0831.140.639 |
| NAUTIC ESTATE
registered office since 05-06-2008 · founded in 2008 |
total assets €424,573 (2026) 0897.891.089 |
Deadline for the 2026 accounts: 31-01-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
JAVA Investments was incorporated on 31 May 2021 as a private limited company.1 Since 2021, VANHAEKENDOVER Stephane has served as director.2 Total assets rose from €100,867 in 2022 to €182,895 in 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| Westendelaan 350 registered office 8434 Middelkerke | 31-05-2021 | 2.317.864.092 |
| 28-09-2021 | Granted | Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Slopen van niet vrijstaande gebouwen of constructies submitted 21-06-2021 · project 2021068905 | Middelkerke |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 35022B0311/00R030 | 831 m² | 1 · 678 m² | 16.6 m · 5 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0768.931.371
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