Equity
Equity fell by 41% in 1 year.
Equity fell by 41% in 1 year.
From profit to loss in 2025, after a profit of €48,707 in 2024.
The accounts state no turnover.
Of this, €2.5m falls due within a year.
The 2024 accounts came latest: 29 days after the end of the period.
Lower net result than 92% of companies in real estate. Sector median €9,997 · 11,290 companies.
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 1 in 100 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 29% of them on solvency, 10% on liquidity, 14% on profitability and 14% on growth.
The bankruptcy probability was computed on 07-11-2026 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 low class on 30-06-2025, 0.8% 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, 1,037 companies had the same profile as MOVECA has now. Each dot stands for 3 companies, two years later.
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MOVECA itself: 1.3% 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 1,037 companies, not a prediction for MOVECA. 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 tight, with a current ratio of 1.3 (2.22 in 2024), below the usual 1.5. Short-term debt is 75.2% and cash 0.1% of total assets. 92% 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 19 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 | ||||
|---|---|---|---|---|
| MOVECA Knokke-Heist | €3.3m | €23,375 | 8.0% | 0.8 |
| Store Invest Projects Bree | €3.5m | €78,708 | 5.6% | 0.8 |
| MERK Knokke-Heist | €4.0m | €151,311 | 9.3% | 1 |
| SAMKO Alveringem | €4.1m | €32,956 | 49.3% | 0.2 |
| MC BOUW Tielt | €9.0m | €65,755 | 9.7% | 1 |
| IB Tessenderlo-Ham | €1.7m | €74,458 | 23.5% | 0.8 |
| N&N'S INVEST Forest | €3.7m | €100,354 | 8.7% | 1 |
These companies have the same main activity as MOVECA: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €1.7m and €9m, founded between 2009 and 2017.
MOVECA files the abbreviated format. That format states no turnover. The gross margin rose from €9,301 in 2016 to €23,375 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €90,000. Estimated: probably between €49,000 and €230,000.
Amounts without an identifiable currency are taken as euros.
Higher than 27% of 11,299 companies in 2025.
Higher than 55% of 10,851 companies in 2025.
Higher than 13% of 11,184 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
3.3m | 2.2m | 3.8m | 4.3m | 1.2m | 1.3m | 708,434 | 451,300 | 177,711 | 150,045 | |
20 |
- | - | - | - | - | 0 | 208 | 417 | 625 | 833 | |
21/28 |
62,855 | 84,444 | 45,813 | 22,247 | 21,052 | 14,475 | 38,675 | 39,340 | 35,678 | 47,571 | |
21 |
- | - | - | - | - | 0 | 3,686 | 7,372 | 11,058 | 14,744 | |
22/27 |
62,855 | 84,444 | 45,813 | 22,247 | 21,052 | 14,475 | 9,579 | 30,045 | 24,620 | 32,827 | |
22 |
- | - | - | - | - | 0 | - | - | - | - | |
23 |
- | - | - | - | - | 0 | - | - | - | - | |
24 |
37,646 | 52,742 | 35,340 | 9,914 | 6,860 | 7,941 | 9,579 | 30,045 | 24,620 | 32,827 | |
25 |
17,990 | 23,090 | - | - | - | - | - | - | - | - | |
26 |
7,219 | 8,612 | 10,472 | 12,332 | 14,192 | 6,533 | - | - | - | - | |
27 |
- | - | - | - | - | 0 | - | - | - | - | |
28 |
- | - | - | - | - | 0 | 25,410 | 1,922 | - | - | |
29/58 |
3.3m | 2.1m | 3.8m | 4.3m | 1.2m | 1.3m | 669,550 | 411,544 | 141,408 | 101,640 | |
29 |
207,000 | 207,000 | 335,000 | 190,000 | - | - | - | - | - | - | |
290 |
- | - | - | - | - | 0 | - | - | - | - | |
291 |
207,000 | 207,000 | 335,000 | 190,000 | - | 0 | - | - | - | - | |
3 |
2.2m | 1.7m | 3.1m | 3.6m | 1.0m | 1.0m | 10,000 | 355,790 | 136,015 | 75,456 | |
30/36 |
2.2m | 1.7m | 3.1m | 3.6m | 1.0m | 1.0m | 10,000 | 355,790 | 136,015 | 75,456 | |
37 |
- | - | - | - | - | 0 | - | - | - | - | |
40/41 |
878,800 | 66,552 | 215,016 | 311,446 | 50,529 | 233,179 | 623,089 | 27,741 | 973 | 13,526 | |
40 |
800,721 | 47,395 | 5,437 | 295,677 | - | 219,972 | 478,217 | - | - | - | |
41 |
78,079 | 19,157 | 209,579 | 15,769 | 50,529 | 13,207 | 144,872 | 27,741 | 973 | 13,526 | |
50/53 |
- | - | - | - | - | 0 | - | - | - | - | |
54/58 |
2,875 | 60,201 | 136,554 | 169,417 | 129,580 | 21,742 | 36,461 | 25,065 | 4,420 | 12,658 | |
490/1 |
14,331 | 2,212 | 8,667 | 1,972 | 1,503 | 3,047 | - | 2,949 | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
3.3m | 2.2m | 3.8m | 4.3m | 1.2m | 1.3m | 708,434 | 451,300 | 177,711 | 150,045 | |
10/15 |
266,502 | 448,184 | 399,477 | 394,409 | 269,080 | -113,109 | 38,470 | 19,022 | 14,207 | 14,127 | |
10/11 |
443,600 | 443,600 | 443,600 | 443,600 | 443,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
12 |
- | - | - | - | - | 0 | - | - | - | - | |
13 |
0 | 993 | 993 | 993 | 993 | 993 | 19,870 | 422 | - | - | |
130/1 |
- | 0 | 993 | 993 | 993 | 993 | - | - | - | - | |
130 |
- | - | - | - | - | - | 993 | 21 | - | - | |
1311 |
- | 0 | 993 | 993 | 993 | 993 | - | - | - | - | |
1313 |
- | - | - | - | - | 0 | - | - | - | - | |
1319 |
- | - | - | - | - | 0 | - | - | - | - | |
132 |
- | - | - | - | - | 0 | - | - | - | - | |
133 |
0 | 993 | - | - | - | 0 | 18,876 | 401 | - | - | |
14 |
-177,098 | 3,591 | -45,116 | -50,184 | -175,513 | -132,703 | - | - | -4,393 | -4,473 | |
15 |
- | - | - | - | - | 0 | - | - | - | - | |
160/5 |
- | - | - | - | - | 0 | - | - | - | - | |
160 |
- | - | - | - | - | 0 | - | - | - | - | |
161 |
- | - | - | - | - | 0 | - | - | - | - | |
162 |
- | - | - | - | - | 0 | - | - | - | - | |
163 |
- | - | - | - | - | 0 | - | - | - | - | |
164/5 |
- | - | - | - | - | 0 | - | - | - | - | |
168 |
- | - | - | - | - | 0 | - | - | - | - | |
17/49 |
3.1m | 1.7m | 3.4m | 3.9m | 959,251 | 1.4m | 669,964 | 432,279 | 163,505 | 135,918 | |
17 |
550,000 | 777,571 | 1.7m | 1.7m | - | - | - | 10,963 | 16,817 | 22,585 | |
170/4 |
550,000 | 777,571 | 1.7m | 1.7m | - | - | - | 10,963 | 16,817 | 22,585 | |
175 |
- | - | - | - | - | 0 | - | - | - | - | |
176 |
- | - | - | - | - | 0 | - | - | - | - | |
178/9 |
- | - | - | - | - | 0 | - | - | - | - | |
42/48 |
2.5m | 937,837 | 1.7m | 2.2m | 959,251 | 1.4m | 669,964 | 421,289 | 146,687 | 113,332 | |
42 |
980,000 | - | - | - | - | 0 | - | 5,855 | 5,768 | 5,683 | |
43 |
1.1m | 780,000 | 852,500 | 1.0m | 623,000 | 1.0m | 600,000 | 400,000 | - | - | |
430/8 |
1.1m | 780,000 | 852,500 | 1.0m | 623,000 | 1.0m | 600,000 | 400,000 | - | - | |
439 |
- | - | - | - | - | 0 | - | - | - | - | |
44 |
223,797 | 100,169 | 22,571 | 37,989 | 4,659 | 43,577 | 47,703 | 12,711 | 33,275 | 43,097 | |
440/4 |
223,797 | 100,169 | 22,571 | 37,989 | 4,659 | 43,577 | 47,703 | 12,711 | 33,275 | 43,097 | |
441 |
- | - | - | - | - | 0 | - | - | - | - | |
46 |
- | - | 0 | 185,588 | - | 0 | - | - | - | - | |
45 |
87,042 | 39,148 | 12,068 | 5,771 | 386 | 19,631 | 22,261 | 2,723 | 2,425 | 34 | |
450/3 |
80,668 | 37,082 | 12,068 | 771 | 386 | 19,631 | 22,261 | 2,723 | 2,425 | 34 | |
454/9 |
6,373 | 2,066 | 0 | 5,000 | - | 0 | - | - | - | - | |
47/48 |
114,017 | 18,521 | 795,328 | 918,166 | 331,207 | 283,462 | - | - | 105,220 | 64,518 | |
492/3 |
9,678 | 0 | 559 | 79 | - | 401 | - | 27 | - | - | |
| Income statement | |||||||||||
76A |
0 | 20 | - | - | - | 0 | - | - | - | - | |
9900 |
23,375 | 239,604 | -75,736 | 132,393 | 7,650 | -125,944 | 60,414 | 27,271 | 16,344 | 9,301 | |
62 |
48,595 | 16,220 | - | - | - | 0 | - | - | - | - | |
630 |
25,619 | 15,552 | 9,108 | 7,471 | 5,483 | 8,478 | 7,947 | 16,154 | 12,101 | 12,101 | |
631/4 |
- | - | - | - | - | 0 | - | - | - | - | |
635/8 |
- | - | - | - | - | 0 | - | - | - | - | |
640/8 |
53,306 | 14,064 | 43,158 | 10,600 | 1,441 | 758 | 4,997 | 1,940 | 1,479 | 1,155 | |
649 |
- | - | - | - | - | 0 | - | - | - | - | |
66A |
- | - | - | - | - | 0 | 77 | 557 | 195 | 230 | |
9901 |
-104,145 | 193,767 | -128,002 | 114,322 | 726 | -135,180 | 47,393 | 8,620 | 2,569 | -4,185 | |
75/76B |
13,226 | 135,563 | 138,202 | 41,822 | - | 4,151 | 1,810 | - | - | 0 | |
75 |
13,226 | 135,563 | 138,202 | 41,822 | - | 4,151 | 1,810 | - | - | 0 | |
76B |
- | - | - | - | - | 0 | - | - | - | - | |
65/66B |
88,285 | 251,067 | 4,780 | 30,490 | 43,216 | 20,623 | 10,217 | 1,082 | 523 | 254 | |
65 |
88,285 | 251,067 | 4,780 | 30,490 | 43,216 | 20,623 | 10,217 | 1,082 | 523 | 254 | |
66B |
- | - | - | - | - | 0 | - | - | - | - | |
9903 |
-179,204 | 78,263 | 5,420 | 125,654 | -42,491 | -151,652 | 38,985 | 7,538 | 2,046 | -4,439 | |
67/77 |
2,478 | 29,556 | 351 | 325 | 320 | -74 | 19,537 | 2,723 | 1,966 | 34 | |
9904 |
-181,682 | 48,707 | 5,068 | 125,329 | -42,811 | -151,579 | 19,448 | 4,815 | 80 | -4,473 | |
789 |
- | - | - | - | - | 0 | - | - | - | - | |
689 |
- | - | - | - | - | 0 | - | - | - | - | |
9905 |
-181,682 | 48,707 | 5,068 | 125,329 | -42,811 | -151,579 | 19,448 | 4,815 | 80 | -4,473 | |
| Appropriation of the result | |||||||||||
9906 |
-178,091 | 3,591 | -45,116 | -50,184 | -175,513 | -151,579 | 19,448 | 422 | -4,393 | -4,473 | |
14P |
3,591 | -45,116 | -50,184 | -175,513 | -132,703 | - | - | - | - | - | |
791/2 |
993 | - | - | - | - | 18,876 | - | - | - | - | |
691/2 |
- | - | - | - | - | - | 19,448 | 422 | - | - | |
691 |
- | - | - | - | - | 0 | - | - | - | - | |
6920 |
- | - | - | - | - | 0 | 972 | 21 | - | - | |
6921 |
- | - | - | - | - | 0 | 18,475 | 401 | - | - | |
694 |
- | - | - | - | - | 0 | - | - | - | - | |
695 |
- | - | - | - | - | 0 | - | - | - | - | |
696 |
- | - | - | - | - | 0 | - | - | - | - | |
| Social balance sheet | |||||||||||
9087 |
0.8 | 0.8 | - | - | - | - | - | - | - | - | |
Hours worked1013 |
1,428 | 520 | - | - | - | - | - | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 13 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 28-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 28-07-2026 | 2026-00340807 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00471495 | |
| 31-12-2023 | micro format | 21-06-2024 | 2024-00156236 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00298884 | |
| 31-12-2021 | micro format | 07-07-2022 | 2022-20181411 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-27900059 | |
| 31-12-2019 | micro format | 03-06-2020 | 2020-14300387 | |
| 31-12-2018 | micro format | 04-06-2019 | 2019-15900415 | |
| 31-12-2017 | micro format | 09-08-2018 | 2018-44700360 | |
| 31-12-2016 | abbreviated format | 03-08-2017 | 2017-40900444 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -78,526 | 209,320 | -118,894 | 121,793 | 6,208 | -126,702 | 55,340 | 24,774 | 14,670 | 7,916 | ||
| -156,063 | 64,259 | 14,176 | 132,800 | -37,328 | -143,101 | 27,395 | 20,969 | 12,181 | 7,628 | ||
| 4,030 | 54,183 | 32,674 | 8,666 | 12,060 | 9,479 | 25,410 | 19,607 | 208 | 59,464 | ||
| -57,326 | -76,353 | -32,863 | 39,837 | 107,838 | -14,719 | 11,397 | 20,644 | -8,238 | - | ||
| 763,326 | 1.1m | 2.1m | 2.1m | 248,028 | -127,183 | -414 | -9,745 | -5,279 | -11,692 | ||
| 8.0% | 20.7% | 10.4% | 9.2% | 21.9% | -8.8% | 5.4% | 4.2% | 8.0% | 9.4% | ||
| 1.30 | 2.22 | 2.25 | 1.94 | 1.26 | 0.91 | 1.00 | 0.98 | 0.96 | 0.90 | ||
| 0.44 | 0.36 | 0.41 | 0.31 | 0.19 | 0.18 | 0.98 | 0.13 | 0.04 | 0.23 | ||
| 11.51 | 3.83 | 8.58 | 9.86 | 3.56 | - | 17.42 | 22.73 | 11.51 | 9.62 | ||
| -68.2% | 10.9% | 1.3% | 31.8% | -15.9% | - | 50.6% | 25.3% | 0.6% | -31.7% | ||
| -5.5% | 2.3% | 0.1% | 2.9% | -3.5% | -11.8% | 2.7% | 1.1% | 0.0% | -3.0% | ||
| -0.89 | 0.83 | -24.87 | 3.99 | 0.14 | - | - | - | - | - |
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 | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 0 | 0 |
| part-time | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 |
| 0.8 | 0.8 | |
| On a permanent contract | 1 | 1 |
| Joined | - | 1 |
| Left | - | 0 |
Source: social balance sheet in the 2024 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,030 | €54,183 | €32,674 | €8,666 | €12,060 |
| €25,619 | €15,552 | €9,108 | €7,471 | €5,483 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €104,145, after a profit of €193,767 in 2024.
Debt's share of the balance-sheet total rises from 79.3% to 92.0%. Equity is lower and debt is higher.
MOVECA has no parent and no holdings in its annual accounts. Maarten Veugelaers is the only director. MOVECA shares no director with another company.
| BGT45
registered office since 21-09-2026 |
founded in 2026 1042.777.417 |
| Montrix
registered office since 03-06-2026 |
founded in 2026 1038.633.438 |
| LOMO INVEST
registered office since 15-09-2025 |
founded in 2025 1027.653.830 |
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
| Establishment | Since | Unit number |
|---|---|---|
| Bayauxlaan 64 registered office 8300 Knokke-Heist | 20-11-2015 | 2.248.309.748 |
| 03-07-2025 | Granted | Slopen van niet vrijstaande gebouwen of constructies; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 10-12-2024 · project 2024155803 | Provincie Antwerpen |
| 22-08-2024 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 07-06-2024 · project 2024082863 | Gent |
| 04-12-2023 | Granted | Bouwen of herbouwen; Hoogstammige bomen vellen die geen deel uitmaken van een bos; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen; Verwijderen van vrijstaande gebouwen submitted 13-07-2023 · project 2023097041 | Sint-Martens-Latem |
| 12-07-2021 | Refused | Bouwen of herbouwen; Nieuwbouw of aanleggen submitted 30-03-2021 · project 2021028428 | Pelt |
| 09-10-2020 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 22-04-2020 · project 2020045523 | Antwerpen |
| 18-09-2020 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 06-07-2020 · project 2020088695 | Antwerpen |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31013A0193/00D000 | 387 m² | 1 · 72 m² | 9.6 m · 2 |
If something looks wrong or is missing, please tell us.