Equity
-€338,338
Debts exceed assets in financial year 2025.
ND2
Lifetime
10 annual accounts with figures on one time axispeak €13,091 (2022)
-€4,152▲ €10,857
lowest -€295,971 (2023)
-€29,007▲ €2,954
peak €18,600 (2016)
-€338,338▼ €29,007
€449,740▲ 6.0%
Board3 names since 2015
3 directorsAHORN and 2 others
Owners
33.33%AHORN
Documentsfilings and deeds
08-07-202623 days before the deadline
2025micro format
Gross margin from -€15,009 to -€4,152Loss of €29,007
Key points
from the 2025 annual accountsLosses
-€356,938 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
Debts
€449,740 404% of the balance sheet
Turnover not published (abbreviated or micro format)
Checked score
54
Fair
Financially stronger than 22% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.0%
01-2025: 2.8%▲ +0.8 percentage points vs 12-2024
02-2025: 2.8%● unchanged vs 01-2025
03-2025: 3.0%▲ +0.2 percentage points vs 02-2025
04-2025: 2.7%▼ -0.3 percentage points vs 03-2025
05-2025: 2.7%● unchanged vs 04-2025
06-2025: 2.6%▼ -0.1 percentage points vs 05-2025
07-2025: 2.6%● unchanged vs 06-2025
08-2025: 3.4%▲ +0.8 percentage points vs 07-2025
09-2025: 3.5%▲ +0.1 percentage points vs 08-2025highest value
10-2025: 0.7%▼ -2.8 percentage points vs 09-2025
11-2025: 0.7%● unchanged vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.6%▼ -0.1 percentage points vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026lowest value
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026
08-2026: 0.6%● unchanged vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
2 of the last 3 accounts late
Negative equity -€338,338
lowers risk
Size: total assets €111,402
Liquidity: current ratio 0.25, cash €109,493
Calculation
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 5% of them on solvency, 49% on liquidity, 4% on profitability and 29% on growth.
The bankruptcy probability was computed on 09-11-2026 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).
Comparable companies, two years later
In July 2024, 6,907 companies had the same profile as ND2 has now. Each dot stands for 18 companies, two years later.
85.4%
were still trading
8.1%
stopped another way
5.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ND2 itself is lower: 0.6% within 12 months. It rests on far more data about ND2 than the profile alone.
Test of the method
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 6,907 companies, not a prediction for ND2. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.25 (0.27 in 2024), below 1. Short-term debt is 403.7% and cash 98.3% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€338,338
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 days early
2024
57 days late
2023
358 days late
2022
31 days late
2021
5 days early
2020
27 days late
2019
54 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 71 days after 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.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (4 of the last 5 accounts filed within 54 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0644755832
Changes of role: D'HOORE Elisabeth Germain Irène, NAUWELAERTS Johnny Jean Pierre and AHORN
Director discharge: D'HOORE Elisabeth Germain Irène · Director discharge: NAUWELAERTS Johnny Jean Pierre · Director discharge: AHORN · General meeting of 29-11-2023 · Gazette deed
Incorporation
published on 24-12-2015 · Gazette deed
First establishment
Baillet-Latourlei 127, Brasschaat
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ND2 Brasschaat | €111,402 | -€4,152 | -303.7% | - |
| Museum Kontich | €113,360 | -€40,047 | -100.1% | - |
| Uw Huizen Antwerp | €94,541 | -€18,303 | 64.6% | - |
| J LEMMENS Heist-op-den-Berg | €118,401 | -€8,276 | 51.0% | - |
| Hemi Construct Turnhout | €95,497 | -€8,245 | -33.4% | - |
| HAVEN woonconcepten Stabroek | €119,643 | -€3,845 | 96.6% | - |
| Den Dijk Heist-op-den-Berg | €115,129 | -€163 | 4.0% | - |
These companies have the same main activity as ND2: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €94,500 and €120,000, founded between 2014 and 2017.
Official details
Source: KBO- Status
- Active since 22-12-2015Normal situation
- Activity
- Development of residential building projectsNACE 68121and 1 other
- Establishment unit
- 2.250.150.5702930 Brasschaat, since 22-12-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 27-03-2026
Annual accounts 2025
- €111,402▼ 3.0%
- Filing
- Filed on 08-07-2026, 23 days before the end of the filing period
Insights on ND2
ND2 files the micro format. That format states no turnover. The gross margin fell from €4,712 in 2016 to -€4,152 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ND2
- What is the company number of ND2?
- The company number of ND2 is 0644.755.832. The VAT number is the same number with BE in front: BE 0644.755.832.
- Where is ND2 based?
- The registered office is at Baillet-Latourlei 127, 2930 Brasschaat.Company details
- What does ND2 do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of ND2?
- ND2 is a private limited company (BV).
- When was ND2 founded?
- ND2 was founded on 22-12-2015.
- Is ND2 still active?
- Yes, ND2 is an active enterprise in the KBO register.
- What is the turnover of ND2?
- The annual accounts for financial year 2025 state no turnover. The abbreviated or micro format does not require it.Financials
- Is ND2 profitable?
- In financial year 2025, ND2 made a loss of €29,007.
- Where can I find the annual accounts of ND2?
- ND2 filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ND2 due?
- ND2 must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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