PHENIX
ActiveSummary
PHENIX has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15.4m and a net result of €619,876. Equity is growing by ~34.6% per year across the filed fiscal years. Its solvency ranks better than 26% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability27▲+11
Solvency37▼-2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €800,000 at 30 days acceptable
Liquidity short (current ratio 0.2 against 0.22 in 2024; short-term debt: 51.2% and cash: 3.5% of total assets), and 87.6% of the assets are financed with debt.
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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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
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
12.4%
Return on assets
0.5%
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 16-09-2026, 47 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 · 10 filingsDeviation from the deadline
2025
47 d late
2024
1 d early
2023
23 d early
2022
31 d late
2021
3 d early
2020
8 d early
2019
43 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average on the deadline day; 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#6 company by total assets in Sint-Lambrechts-Woluwe, Real estate sector#10 company by equity in Sint-Lambrechts-Woluwe, Real estate sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€619,876
2024 · -€2.3m
Working capital
-€50.6m▼ 76.5%
2024 · -€28.7m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€175,318-€906,359▼ 417%-€1.4m▼ 55.1%-€2.2m▼ 57.8%€1.9m
Net result-€169,721-€251,240▼ 48.0%€1.1m-€2.3m€619,876
Equity€6.8m▼ 2.4%€16.0m▲ 135%€17.1m▲ 6.7%€14.8m▼ 13.6%€15.4m▲ 4.6%
Total assets€17.8m▲ 49.1%€72.2m▲ 307%€77.9m▲ 7.9%€106.1m▲ 36.2%€124.2m▲ 17.1%
Debt€8.8m▲ 220%€54.1m▲ 514%€58.7m▲ 8.6%€89.7m▲ 52.7%€104.5m▲ 16.5%
Working capital-€2.2m-€10.9m▼ 389%-€17.0m▼ 56.2%-€28.7m▼ 68.6%-€50.6m▼ 76.5%
Staff (FTE)0003
Why a figure moved sharply
- 2022 Equity +135%, Total assets +307% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €1.9m after a loss of €2.2m in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €124.2m
Fixed assets
€111.2m ▲ 13.5%
Current assets
€13.0m ▲ 60.4%
Equity and liabilities €124.2m
Equity
€15.4m ▲ 4.6%
Provisions
€4.3m ▲ 159%
Debt
€104.5m ▲ 16.5%
Debt's share of the balance-sheet total falls from 84.5% to 84.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3.6m▲
2024 · -€1.9m
Cash flow
€2.3m▲
2024 · -€2.0m
Current ratio
0.20▼
2024 · 0.22
Debt to equity
6.77▲
2024 · 6.08
ROE
4.0%▲
2024 · -15.8%
ROA
0.5%▲
2024 · -2.2%
Interest coverage
0.92▲
2024 · -0.43
Debt ≤ 1 year
€63.6m▲
2024 · €36.8m
Debt > 1 year
€40.8m▼
2024 · €52.9m
Income taxes
€121,220
Staff costs
€197,845
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €890,852 | €1.0m | €827,234 | €0 | €4.6m | - |
| Remuneration, social security and pensions62 | - | - | - | - | €197,845 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €141,251 | €129,424 | €264,395 | €282,515 | €1.7m | ▲ 496% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €16,615 | -€28,456 | -€18,576 | €10,676 | €0 | ▼ 100% |
| Other operating charges640/8 | €11,161 | €11,817 | €29,157 | €73,053 | €138,456 | ▲ 89.5% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | -€6,291 | -€793,573 | -€1.1m | -€1.9m | €3.9m | ▲ 312% |
| Operating profit (loss)9901 | -€175,318 | -€906,359 | -€1.4m | -€2.2m | €1.9m | ▲ 186% |
| Financial income75/76B | €87,000 | €1.2m | €5.1m | €4.0m | €2.5m | ▼ 36.4% |
| Recurring financial income75 | €87,000 | €60,268 | €562,307 | €2.2m | €330,157 | ▼ 84.9% |
| Non-recurring financial income76B | - | €1.1m | €4.5m | €1.8m | €2.2m | ▲ 22.5% |
| Financial charges65/66B | €128,705 | €533,615 | €2.6m | €4.5m | €3.9m | ▼ 13.5% |
| Recurring financial charges65 | €128,705 | €533,615 | €2.6m | €4.5m | €3.9m | ▼ 13.5% |
| Profit (loss) for the period before taxes9903 | -€217,024 | -€259,563 | €1.0m | -€2.8m | €535,318 | ▲ 119% |
| Transfer from deferred taxes780 | €47,303 | €8,323 | €17,197 | €423,903 | €433,546 | ▲ 2.3% |
| Transfer to deferred taxes680 | €0 | - | - | - | €227,769 | - |
| Income taxes67/77 | €0 | - | - | - | €121,220 | - |
| Profit (loss) for the period9904 | -€169,721 | -€251,240 | €1.1m | -€2.3m | €619,876 | ▲ 127% |
| Transfer from tax-exempt reserves789 | €141,908 | €24,970 | €51,590 | €1.3m | €120,212 | ▼ 90.5% |
| Transfer to tax-exempt reserves689 | €0 | - | - | - | €683,306 | - |
| Profit (loss) for the period to be appropriated9905 | -€27,813 | -€226,271 | €1.1m | -€1.1m | €56,782 | ▲ 105% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17.8m | €72.2m | €77.9m | €106.1m | €124.2m | ▲ 17.1% |
| Fixed assets21/28 | €11.8m | €66.7m | €65.4m | €98.0m | €111.2m | ▲ 13.5% |
| Intangible fixed assets21 | - | - | - | - | €229,877 | - |
| Tangible fixed assets22/27 | €4.1m | €3.9m | €9.2m | €9.1m | €35.4m | ▲ 287% |
| Land and buildings22 | €4.1m | €3.9m | €9.0m | €9.0m | €35.3m | ▲ 291% |
| Plant, machinery and equipment23 | - | €70,416 | €153,811 | €117,671 | €91,414 | ▼ 22.3% |
| Furniture and vehicles24 | - | - | - | - | €5,204 | - |
| Financial fixed assets28 | €7.6m | €62.8m | €56.2m | €88.8m | €75.6m | ▼ 14.9% |
| Current assets29/58 | €6.0m | €5.5m | €12.5m | €8.1m | €13.0m | ▲ 60.4% |
| Amounts receivable after more than one year29 | - | - | €55,350 | €55,350 | €55,350 | = |
| Other amounts receivable291 | - | - | €55,350 | €55,350 | €55,350 | = |
| Amounts receivable within one year40/41 | €5.9m | €4.4m | €12.1m | €7.1m | €8.6m | ▲ 21.4% |
| Trade receivables40 | €0 | - | - | €37,500 | €282,898 | ▲ 654% |
| Other amounts receivable41 | €5.9m | €4.4m | €12.1m | €7.1m | €8.4m | ▲ 18.0% |
| Cash at bank and in hand54/58 | €10,304 | €1.0m | €377,764 | €933,355 | €4.3m | ▲ 360% |
| Deferred charges and accrued income490/1 | €87,695 | €37,079 | €0 | €5,496 | €23,398 | ▲ 326% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17.8m | €72.2m | €77.9m | €106.1m | €124.2m | ▲ 17.1% |
| Equity10/15 | €6.8m | €16.0m | €17.1m | €14.8m | €15.4m | ▲ 4.6% |
| Contributions10/11 | €70,000 | €11.4m | €11.4m | €11.4m | €11.5m | ▲ 0.5% |
| Capital10 | €70,000 | €11.4m | €11.4m | €11.4m | €11.5m | ▲ 0.5% |
| Issued capital100 | €70,000 | €11.4m | €11.4m | €11.4m | €11.6m | ▲ 1.9% |
| Uncalled capital101 | - | - | - | - | €159,000 | - |
| Reserves13 | €5.5m | €4.8m | €4.8m | €3.5m | €4.1m | ▲ 16.0% |
| Non-distributable reserves130/1 | €7,000 | €7,000 | €52,000 | €52,000 | €52,000 | = |
| Legal reserve130 | €7,000 | €7,000 | €52,000 | €52,000 | €52,000 | = |
| Tax-exempt reserves132 | €4.8m | €4.8m | €4.7m | €3.5m | €4.0m | ▲ 16.2% |
| Distributable reserves133 | €671,333 | €0 | - | - | - | - |
| Profit (loss) carried forward14 | €1.2m | -€221,549 | €850,714 | -€209,429 | -€152,647 | ▲ 27.1% |
| Provisions and deferred taxes16 | €2.1m | €2.1m | €2.1m | €1.7m | €4.3m | ▲ 159% |
| Provisions for liabilities and charges160/5 | €533,909 | €505,453 | €486,877 | €497,552 | €497,552 | = |
| Environmental obligations163 | €533,909 | €505,453 | €486,877 | €497,552 | €497,552 | = |
| Deferred taxes168 | €1.6m | €1.6m | €1.6m | €1.2m | €3.8m | ▲ 228% |
| Amounts payable17/49 | €8.8m | €54.1m | €58.7m | €89.7m | €104.5m | ▲ 16.5% |
| Amounts payable after more than one year17 | €539,982 | €37.7m | €29.2m | €52.9m | €40.8m | ▼ 22.8% |
| Financial debts170/4 | €539,982 | €37.7m | €29.2m | €52.9m | €40.8m | ▼ 22.9% |
| Other amounts payable178/9 | - | - | - | - | €2,669 | - |
| Amounts payable within one year42/48 | €8.2m | €16.4m | €29.5m | €36.8m | €63.6m | ▲ 72.9% |
| Current portion of amounts payable after more than one year42 | €43,938 | €1.2m | €10.9m | €3.0m | €28.1m | ▲ 850% |
| Financial debts43 | €5.0m | €7.5m | €1.8m | €1.2m | €4,640 | ▼ 99.6% |
| Credit institutions430/8 | €5.0m | €7.5m | €1.8m | €1.2m | €4,640 | ▼ 99.6% |
| Trade debts44 | €769,577 | €687,669 | €607,177 | €145,982 | €875,303 | ▲ 500% |
| Suppliers440/4 | €769,577 | €687,669 | €607,177 | €145,982 | €875,303 | ▲ 500% |
| Taxes, remuneration and social security45 | €350,551 | €0 | - | €23,858 | €582,530 | ▲ 2,342% |
| Taxes450/3 | €350,551 | €0 | - | €23,858 | €582,071 | ▲ 2,340% |
| Remuneration and social security454/9 | - | - | - | - | €459 | - |
| Other amounts payable47/48 | €2.0m | €7.0m | €16.2m | €32.4m | €34.1m | ▲ 5.1% |
| Accrued charges and deferred income492/3 | €32,550 | €45,293 | €0 | €11,569 | €100,939 | ▲ 773% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€169,721 | -€251,240 | €1.1m | -€2.3m | €619,876 | ▲ 127% |
| + Depreciation and write-downs630 | €141,251 | €129,424 | €264,395 | €282,515 | €1.7m | ▲ 496% |
| Operating cash flow (approximation) | -€28,470 | -€121,816 | €1.3m | -€2.0m | €2.3m | ▲ 212% |
| Investment in fixed assets (approximation) | - | -€55.1m | €1.1m | -€32.9m | -€14.9m | ▲ 54.6% |
| Change in cash | - | €990,166 | -€622,706 | €555,591 | €3.4m | ▲ 504% |
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
16-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 47 days late
2025
31-12
Financial
Back to profitnet €619,876
Net result €619,876 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€2.3m
Net result drops to -€2.3m, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €1.1m
Net result €1.1m after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Equity above €10mEq €16.0m ▲135%
Equity rises from €6.8m to €16.0m.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €4.4m
Net result €4.4m after 2 loss-making years.
31-12
Financial
Liquidity times 6current ratio 3.87
Current ratio from 0.65 to 3.87.
Show earlier events
31-12
Financial
Equity above €5mEq €7.0m ▲196%
Equity rises from €2.4m to €7.0m.
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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-Lambrechts-Woluwe · 1 establishment unit since 2014
Ground area
2,864 m²
Building footprint
722 m²
Volume, LiDAR
7,073 m³
Parcel 21018A0002/00P007, Brussels · tallest building 15.3 m, ±3 floors. Linked by address, not a title deed.
74
companies at this address
See who is registered here
1 establishment unit
Steenweg op Leuven 1188, 1200 Sint-Lambrechts-Woluwe
since 20142.240.647.837
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21018A0002/00P007 | Brussels | 2,864 m² | 1 · 722 m² | 15.3 m · 3 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.
Structure & network
Part of the group
TERRA FECUNDA
37 companies
Group, risk and exposure
Owners and holdings
2 owners · 19 holdings · 25 subsidiaries in the treeChain of control
- TERRA FECUNDA
- BRUVACO
- PHENIX
Highest known parent: TERRA FECUNDA. The sources do not say who stands above it.
Owners 2
- BRUVACOparentSourceaccounts BRUVACO 202566.67%
-
33.43%
Holdings 19
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100%
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100%
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100%
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100%
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100%
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100%
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100%
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100%
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100%
-
100%
Show 9 more holdings
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100%
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100%
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100%
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100%
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100%
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85%
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75%
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50%
-
50%
All subsidiaries, including indirect ones 25
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- CITESILE 100%
- COOMANS IMMO 100%
- DECOSIM 100%
- EXPRESCO 100%
- FAI PATRIMONIUM INVEST 100%
- FAP RETAIL 100%
- FAP WIELSBEKE 100%
- IMMOJECO 100%
- Marnepol 100%
- MIDI 100%
- PHARMAHOLD LB 100%
- Roggim 100%
- Romingo 100%
ROMINGO II 100%1 subsidiary
- Golfclub STEENPOEL 100%
- TOISON D'OR 100%
ARDEA INTERMEDIA 85%1 subsidiary
ARDEA ALBA 75%6 subsidiaries
According to the 2025 annual accounts of PHENIX and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
8945002KZKSXSDA54L41
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 1,426 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded25-01-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436615509
Registered
02-04-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.