MUNIA
ActiveMUNIA has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23k and a net result of €-2k. Equity is shrinking by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 23% of 9095 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
20
/ 100
Critical▼ -24 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-28
Solvency4=
Growth58=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.01 against 0.03 in 2024), and 94.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
5.3%
Return on assets
-0.5%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 9095 sector peers (2025).
NBB · sector comparisonPosition among 9095 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
16 d early
2023
30 d late
2022
4 d early
2021
26 d late
2020
44 d late
2019
21 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€23k▼ 8.4%
2024 · €25k
2018: €64k
2019: €53k
2020: €35k
2021: €28k
2022: €36k
2023: €24k
2024: €25k
2018 → 2025
Total assets
€443k▼ 7.0%
2024 · €476k
2018: €575k
2019: €474k
2020: €459k
2021: €438k
2022: €495k
2023: €482k
2024: €476k
2018 → 2025
Net result
€-2k
2024 · €1k
2018: €-25k
2019: €-11k
2020: €-18k
2021: €-7k
2022: €8k
2023: €-12k
2024: €1k
2018 → 2025
Working capital
€-339k▲ 4.9%
2024 · €-357k
2018: €-97k
2019: €-120k
2020: €-252k
2021: €-289k
2022: €-357k
2023: €-366k
2024: €-357k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€28k-€36k▲ 27.1%€24k▼ 32.9%€25k▲ 5.9%€23k▼ 8.4%
Operating result€-8k-€12k€-15k€3k€503▼ 85.4%
Net result€-7k-€8k€-12k€1k€-2k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 85% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €443k
Fixed assets
€439k▼ 5.5%
Current assets
€3k▼ 70.8%
Equity and liabilities €443k
Equity
€23k▼ 8.4%
Provisions
€2k▼ 76.3%
Debt
€418k▼ 5.8%
The debt ratio rises from 93.1% to 94.3%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€38k▲
2024 · €37k
Cash flow
€35k▲
2024 · €35k
Solvency
5.3%▼
2024 · 5.3%
Current ratio
0.01▼
2024 · 0.03
Quick ratio
0.01▼
2024 · 0.03
Debt / equity
17.95▲
2024 · 17.46
ROE
-9.1%▼
2024 · 5.6%
ROA
-0.5%▼
2024 · 0.3%
Interest coverage
13.86▲
2024 · 11.98
Debt
€418k▼
2024 · €444k
Debt ≤ 1 year
€343k▼
2024 · €369k
Debt > 1 year
€75k=
2024 · €75k
Income taxes
€6k▲
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€476k€443k▼
Fixed assets21/28€465k€439k▼
Tangible fixed assets22/27€465k€439k▼
Land and buildings22€402k€383k▼
Plant, machinery and equipment23€6k€10k▲
Furniture and vehicles24€57k€46k▼
Current assets29/58€12k€3k▼
Amounts receivable within one year40/41€7k€174▼
Trade receivables40-€174
Other amounts receivable41€7k€0▼
Cash at bank and in hand54/58€4k€3k▼
Equity and liabilities
Total equity and liabilities10/49€476k€443k▼
Equity10/15€25k€23k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€16k€5k▼
Non-distributable reserves130/1€1k€1k=
Legal reserve130€1k€1k=
Tax-exempt reserves132€14k€3k▼
Profit (loss) carried forward14€-52k€-44k▲
Provisions and deferred taxes16€7k€2k▼
Deferred taxes168€7k€2k▼
Amounts payable17/49€444k€418k▼
Amounts payable after more than one year17€75k€75k=
Financial debts170/4€75k€75k=
Amounts payable within one year42/48€369k€343k▼
Current portion of amounts payable after more than one year42€7k€0▼
Financial debts43€4k€0▼
Other loans439€4k€0▼
Trade debts44€9k€9k▲
Suppliers440/4€9k€9k▲
Taxes, remuneration and social security45€4k€7k▲
Taxes450/3€4k€7k▲
Other amounts payable47/48€346k€327k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€37k▲
Other operating charges640/8€7k€6k▼
Gross operating margin9900€43k€44k▲
Operating profit (loss)9901€3k€503▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€381€-2k▼
Transfer from deferred taxes780€6k€6k=
Income taxes67/77€5k€6k▲
Profit (loss) for the period9904€1k€-2k▼
Transfer from tax-exempt reserves789€11k€11k=
Profit (loss) for the period to be appropriated9905€12k€9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-52k€-44k▲
Profit (loss) brought forward from the previous period14P€-65k€-52k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €8k
Net result €8k after 4 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
13-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 44 days late
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2025
This board is reconstructed from a single act (25065143). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Anne Marie Hemelsoen
CurrentDirector · since 21-05-2025
Kristof Welleman
CurrentDirector · since 21-05-2025
Yvan Welleman
CurrentDirector · since 21-05-2025
21-05-2025
Anne Marie Hemelsoen: Appointed as Director
21-05-2025
Kristof Welleman: Appointed as Director
21-05-2025
Yvan Welleman: Appointed as Director
21-05-2025
Yvan Welleman: Appointed as Managing director
Location & real-estate footprint
Registered office, Herzele · 1 establishment unit since 1991
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Pastorijstraat 289552 HerzeleGround area
2,957 m²
Building footprint
238 m²
Volume, LiDAR
1,261 m³
2 parcels, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IMMO-WELLEMAN
since 19912.054.940.347
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41008B0101/00L000 | Flanders | 2,416 m² | 1 · 238 m² | 9.0 m · 2 fl. |
| 41024A1813/00X000 | Flanders | 541 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
BERNO REAL ESTATE
BE 0839.778.884
Dendermonde · Eq €23k
MS-IMMO
BE 0662.641.048
Fernelmont · Eq €23k
EASY PROPERTIES
BE 0678.647.236
Elsene · Eq €23k
AUREA IMMOBILIER
BE 0807.765.817
Mons · Eq €23k
JAG
BE 0833.416.575
Lasne · Eq €23k
Of 11,700 companies in sector 68310 we hold annual accounts for 6,875. 4,078 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded30-10-1991
Fiscal year end31-12
Trade name NL
IMMO - WELLEMAN
Activities, NACEBEL
68310Real estate agency activities
68311Real estate activities
70311
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.