PALM REAL ESTATE DEVELOPMENT
ActiveSummary
The annual accounts of PALM REAL ESTATE DEVELOPMENT for fiscal year 2025 show a net loss of 66% of the equity at the start of that year. The 2025 annual accounts show equity of €1.91M and a net result of €-3.74M. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 24% of 9194 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
46
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability8▼-45
Solvency31▼-9
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.46 against 1.53 in 2024; short-term debt: 54.5% and cash: 2.1% of total assets), and 94% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 · 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
6%
Return on assets
-11.7%
Age of the figures
12 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 9194 sector peers (2025).
NBB · sector comparisonPosition among 9194 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
3 d early
2024
32 d early
2023
216 d late
2022
5 d early
2021
3 d early
2020
9 d early
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€2.48M
EBIT margin
101.0%
Net result
€-3.74M
2024 · €2.25M
2019: €6k
2020: €28k
2021: €22k
2022: €3.16M
2023: €-954k
2024: €2.25M
2019 → 2025
Working capital
€7.97M▼ 16.6%
2024 · €9.56M
2019: €9.65M
2020: €9.06M
2021: €8.17M
2022: €7.66M
2023: €7.00M
2024: €9.56M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€2.48M
Equity€1.19M-€4.35M▲ 266%€3.40M▼ 21.9%€5.65M▲ 66.3%€1.91M▼ 66.2%
Operating result€1.07M-€6.11M▲ 469%€2.61M▼ 57.3%€2.51M▼ 3.8%€-1.72M
Net result€22k-€3.16M▲ 14,494%€-954k€2.25M€-3.74M
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €1.72M after €2.51M in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €31.88M
Fixed assets
€6.54M ▼ 34.1%
Current assets
€25.34M ▼ 7.8%
Equity and liabilities €31.88M
Equity
€1.91M ▼ 66.2%
Debt
€29.97M ▼ 5.6%
Debt's share of the balance-sheet total rises from 84.9% to 94.0%. Equity and debt are lower.
Key figures and ratios
Current ratio
1.46▼
2024 · 1.53
Quick ratio
0.37▼
2024 · 0.40
Debt to equity
15.71▲
2024 · 5.62
ROE
-196.1%▼
2024 · 39.9%
ROA
-11.7%▼
2024 · 6.0%
Debt ≤ 1 year
€17.36M▼
2024 · €17.92M
Debt > 1 year
€12.50M=
2024 · €12.50M
Income taxes
€5k▲
2024 · €-5k
Staff costs
€0▲
2024 · €-39
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 72 lines
Balance sheet
Code20242025
Assets
Total assets20/58€37.40M€31.88M▼
Fixed assets21/28€9.92M€6.54M▼
Financial fixed assets28€9.92M€6.54M▼
Affiliated companies280/1€9.92M-
Participating interests280€9.92M-
Current assets29/58€27.48M€25.34M▼
Stocks and contracts in progress3€20.37M€18.87M▼
Stocks30/36€20.37M€18.87M▼
Property held for sale35€20.37M-
Contracts in progress37€0-
Amounts receivable within one year40/41€6.69M€5.77M▼
Trade receivables40€945k€739k▼
Other amounts receivable41€5.74M€5.03M▼
Cash at bank and in hand54/58€423k€677k▲
Deferred charges and accrued income490/1€2k€22k▲
Equity and liabilities
Total equity and liabilities10/49€37.40M€31.88M▼
Equity10/15€5.65M€1.91M▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€5.58M€1.84M▼
Amounts payable17/49€31.76M€29.97M▼
Amounts payable after more than one year17€12.50M€12.50M=
Financial debts170/4€12.50M€12.50M=
Subordinated loans170€12.50M-
Other amounts payable178/9€648€648=
Amounts payable within one year42/48€17.92M€17.36M▼
Financial debts43€12.96M€12.80M▼
Credit institutions430/8€12.96M€12.80M▼
Trade debts44€57k€938k▲
Suppliers440/4€57k€938k▲
Taxes, remuneration and social security45€1.13M€0▼
Taxes450/3€1.13M€0▼
Other amounts payable47/48€3.78M€3.62M▼
Accrued charges and deferred income492/3€1.33M€102k▼
Income statement
Code20242025
Operating income70/76A€4.46M-
Turnover70€2.48M-
Change in stocks of work in progress, finished goods and contracts in progress71€-8.32M-
Other operating income74€10.30M-
Operating charges60/66A€1.96M-
Goods for resale, raw materials and consumables60€287k-
Purchases600/8€1.76M-
Change in stocks: decrease (increase)609€-1.47M-
Services and other goods61€1.62M-
Remuneration, social security and pensions62€-39€0▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€3.44M
Other operating charges640/8€52k€110k▲
Non-recurring operating charges66A-€60k
Gross operating margin9900-€1.89M
Operating profit (loss)9901€2.51M€-1.72M▼
Financial income75/76B€1.78M€1.91M▲
Recurring financial income75€1.78M€1.91M▲
Income from financial fixed assets750€1.61M-
Income from current assets751€167k-
Other financial income752/9€0-
Financial charges65/66B€2.04M€3.93M▲
Recurring financial charges65€2.04M€546k▼
Debt charges650€2.00M-
Other financial charges652/9€37k-
Non-recurring financial charges66B-€3.38M
Profit (loss) for the period before taxes9903€2.25M€-3.74M▼
Income taxes67/77€-5k€5k▲
Taxes670/3€0-
Tax adjustments and reversals of tax provisions77€5k-
Profit (loss) for the period9904€2.25M€-3.74M▼
Profit (loss) for the period to be appropriated9905€2.25M€-3.74M▼
Appropriation of the result
Profit (loss) to be appropriated9906€5.58M€1.84M▼
Profit (loss) brought forward from the previous period14P€3.33M€5.58M▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (26 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
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet €-3.74M ▼266%
Net result drops to €-3.74M, the lowest in the series.
29-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
02-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 216 days late
02-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
30-09
Financial
Back to profitnet €2.25M
Net result €2.25M after one loss-making year.
30-09
Financial
Equity above €5MEq €5.65M ▲66.3%
Equity rises from €3.40M to €5.65M.
2023
26-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Highest result since 2019net €3.16M ▲14494%
Operating result €6.11M, net result €3.16M, both a record.
30-06
Financial
Equity above €2MEq €4.35M ▲266%
4 profitable years in a row build equity to €4.35M.
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
22-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 5 days late
2018
26-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Knokke-Heist · 1 establishment unit since 2014
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.
Cottagepad 58300 Knokke-HeistGround area
920 m²
Building footprint
375 m²
Volume, LiDAR
3,575 m³
Parcel 31334B0688/00A000, Flanders · tallest building 13.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PALM REAL ESTATE DEVELOPMENT
since 20142.239.217.779
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31334B0688/00A000 | Flanders | 920 m² | 1 · 375 m² | 13.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 7,320 companies in sector 68110 we hold annual accounts for 5,381. 2,694 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-12-2014
Fiscal year end30-09
Abbreviation NL
Palm RED
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.