KANADA
ActiveSummary
KANADA has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €33,584 and a net result of €7,264. Equity is growing by ~65.9% per year across the filed fiscal years. Its solvency ranks better than 27% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▼-6
Solvency30▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.19 against 0.13 in 2024; short-term debt: 26% and cash: 2.8% of total assets), and 94.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
5.3%
Return on assets
1.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 6 filingsDeviation from the deadline
2025
31 d late
2024
21 d late
2023
29 d late
2022
32 d late
2021
22 d late
2020
31 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 28 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 30 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
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 How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€33,584▲ 27.6%
2024 · €26,320
Total assets
€632,663▲ 0.7%
2024 · €628,093
Net result
€7,264▼ 63.6%
2024 · €19,972
Working capital
-€133,151▼ 21.9%
2024 · -€109,248
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€31,890€35,652▲ 11.8%€32,268▼ 9.5%€37,942▲ 17.6%€22,628▼ 40.4%
Net result€20,026within the sector's middle half€21,686within the sector's middle half▲ 8.3%€16,864within the sector's middle half▼ 22.2%€19,972within the sector's middle half▲ 18.4%€7,264within the sector's middle half▼ 63.6%
Equity-€32,202below the sector's middle half▲ 38.3%-€10,516below the sector's middle half▲ 67.3%€6,348below the sector's middle half€26,320within the sector's middle half▲ 315%€33,584within the sector's middle half▲ 27.6%
Total assets€730,029within the sector's middle half▲ 3.3%€667,091within the sector's middle half▼ 8.6%€656,211within the sector's middle half▼ 1.6%€628,093within the sector's middle half▼ 4.3%€632,663within the sector's middle half▲ 0.7%
Debt€762,231▲ 0.4%€677,606▼ 11.1%€649,863▼ 4.1%€601,773▼ 7.4%€599,079▼ 0.4%
Working capital-€321,994below the sector's middle half▲ 2.0%-€91,855below the sector's middle half▲ 71.5%-€98,682below the sector's middle half▼ 7.4%-€109,248below the sector's middle half▼ 10.7%-€133,151below the sector's middle half▼ 21.9%
Solvency-4.4%below the sector's middle half▲ 3.0pp-1.6%below the sector's middle half▲ 2.8pp1.0%below the sector's middle half▲ 2.5pp4.2%below the sector's middle half▲ 3.2pp5.3%within the sector's middle half▲ 1.1pp
Current ratio0.22below the sector's middle half▲ 0.100.25below the sector's middle half▲ 0.040.26below the sector's middle half▲ 0.010.13below the sector's middle half▼ 0.130.19below the sector's middle half▲ 0.06
Return on assets (ROA)2.7%within the sector's middle half▲ 13.0pp3.3%within the sector's middle half▲ 0.5pp2.6%within the sector's middle half▼ 0.7pp3.2%within the sector's middle half▲ 0.6pp1.1%within the sector's middle half▼ 2.0pp
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 falls in 2025; 2025 is 40% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €632,663
Fixed assets
€601,480 ▼ 1.6%
Current assets
€31,183 ▲ 88.1%
Equity and liabilities €632,663
Equity
€33,584 ▲ 27.6%
Debt
€599,079 ▼ 0.4%
Debt's share of the balance-sheet total falls from 95.8% to 94.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€38,698▼
2024 · €53,406
Cash flow
€23,334▼
2024 · €35,437
Debt to equity
17.84▼
2024 · 22.86
ROE
21.6%▼
2024 · 75.9%
Interest coverage
2.99▼
2024 · 3.45
Debt ≤ 1 year
€164,334▲
2024 · €125,827
Debt > 1 year
€434,745▼
2024 · €475,946
Income taxes
€2,421▼
2024 · €2,493
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,599 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.6%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,599 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,606 | €4,785 | €15,150 | €15,465 | €16,070 | ▲ 3.9% |
| Other operating charges640/8 | €1,279 | €1,656 | €2,029 | €2,174 | €1,819 | ▼ 16.3% |
| Gross operating margin9900 | €53,775 | €42,093 | €49,447 | €55,580 | €40,517 | ▼ 27.1% |
| Operating profit (loss)9901 | €31,890 | €35,652 | €32,268 | €37,942 | €22,628 | ▼ 40.4% |
| Financial income75/76B | - | - | - | €3 | - | - |
| Recurring financial income75 | - | - | - | €3 | - | - |
| Financial charges65/66B | €11,864 | €13,966 | €15,403 | €15,480 | €12,943 | ▼ 16.4% |
| Recurring financial charges65 | €11,864 | €13,966 | €15,403 | €15,480 | €12,943 | ▼ 16.4% |
| Profit (loss) for the period before taxes9903 | €20,026 | €21,686 | €16,864 | €22,465 | €9,685 | ▼ 56.9% |
| Income taxes67/77 | - | - | - | €2,493 | €2,421 | ▼ 2.9% |
| Profit (loss) for the period9904 | €20,026 | €21,686 | €16,864 | €19,972 | €7,264 | ▼ 63.6% |
| Profit (loss) for the period to be appropriated9905 | €20,026 | €21,686 | €16,864 | €19,972 | €7,264 | ▼ 63.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €730,029 | €667,091 | €656,211 | €628,093 | €632,663 | ▲ 0.7% |
| Fixed assets21/28 | €640,912 | €636,127 | €620,977 | €611,514 | €601,480 | ▼ 1.6% |
| Tangible fixed assets22/27 | €640,912 | €636,127 | €620,977 | €611,514 | €601,480 | ▼ 1.6% |
| Land and buildings22 | €640,912 | €636,127 | €620,977 | €611,514 | €601,480 | ▼ 1.6% |
| Current assets29/58 | €89,117 | €30,963 | €35,234 | €16,579 | €31,183 | ▲ 88.1% |
| Amounts receivable within one year40/41 | €26,696 | €18,445 | €12,618 | €15,586 | €10,591 | ▼ 32.0% |
| Trade receivables40 | €26,696 | €18,445 | €12,618 | €15,586 | €2,579 | ▼ 83.5% |
| Other amounts receivable41 | - | - | - | - | €8,012 | - |
| Cash at bank and in hand54/58 | €62,345 | €12,518 | €10,615 | €193 | €17,442 | ▲ 8,916% |
| Deferred charges and accrued income490/1 | €76 | - | €12,000 | €800 | €3,150 | ▲ 294% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €730,029 | €667,091 | €656,211 | €628,093 | €632,663 | ▲ 0.7% |
| Equity10/15 | -€32,202 | -€10,516 | €6,348 | €26,320 | €33,584 | ▲ 27.6% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€52,202 | -€30,516 | -€13,652 | €6,320 | €13,584 | ▲ 115% |
| Amounts payable17/49 | €762,231 | €677,606 | €649,863 | €601,773 | €599,079 | ▼ 0.4% |
| Amounts payable after more than one year17 | €351,120 | €554,788 | €515,947 | €475,946 | €434,745 | ▼ 8.7% |
| Financial debts170/4 | €351,120 | €554,788 | €515,947 | €475,946 | €434,745 | ▼ 8.7% |
| Amounts payable within one year42/48 | €411,111 | €122,818 | €133,916 | €125,827 | €164,334 | ▲ 30.6% |
| Current portion of amounts payable after more than one year42 | €20,507 | €37,721 | €38,841 | €40,001 | €52,251 | ▲ 30.6% |
| Financial debts43 | - | €3,094 | €3,256 | €4,412 | - | - |
| Other loans439 | - | €3,094 | €3,256 | €4,412 | - | - |
| Trade debts44 | €601 | - | €3,814 | €963 | €1,910 | ▲ 98.3% |
| Suppliers440/4 | €601 | - | €3,814 | €963 | €1,910 | ▲ 98.3% |
| Taxes, remuneration and social security45 | - | - | - | €2,493 | €4,914 | ▲ 97.1% |
| Taxes450/3 | - | - | - | €2,493 | €4,914 | ▲ 97.1% |
| Other amounts payable47/48 | €390,003 | €82,003 | €88,003 | €77,958 | €105,258 | ▲ 35.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,026 | €21,686 | €16,864 | €19,972 | €7,264 | ▼ 63.6% |
| + Depreciation and write-downs630 | €20,606 | €4,785 | €15,150 | €15,465 | €16,070 | ▲ 3.9% |
| Operating cash flow (approximation) | €40,632 | €26,471 | €32,014 | €35,437 | €23,334 | ▼ 34.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€6,001 | -€6,036 | ▼ 0.6% |
| Change in cash | - | -€49,827 | -€1,903 | -€10,422 | €17,248 | ▲ 266% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-12
Financial
Highest result since 2020net €21,686 ▲8.3%
Net result €21,686, the highest in the series.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Back to profitnet €20,026
Net result €20,026 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB 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.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Gillis (bij-Brussel) · 1 establishment unit since 2019
Ground area
1,270 m²
Building footprint
644 m²
Volume, LiDAR
11,794 m³
Parcel 21013B0193/00B006, Brussels · tallest building 24.1 m, ±6 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
KANADA
since 20192.296.890.120
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21013B0193/00B006 | Brussels | 1,270 m² | 1 · 644 m² | 24.1 m · 6 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.
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. 2,967 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
74201Photography, excluding press photography
E-invoicing
Reachable via Peppol
Peppol ID
0208:0736532282
Registered
14-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.