The file of Place d'Armes contains 7 judicial reorganisation notices, as published in the Belgian Official Gazette. The KBO register currently lists the legal status of Place d'Armes as special situation, with no start date. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show negative equity (-€2.4m) and a net result of -€1.0m. Equity is shrinking by about 54% per year across the filed financial years. Its solvency ranks better than 15% of 510 sector peers (NACE 55, financial year 2025).
Reorganisation running: about 1 in 4 bankrupt within the year
Structure
Parent
Immo - Sambre · 100%
CAYMAN MANAGEMENTManaging director
GESCOPARDirector
IMMO-SAMBREDirector
Auditor: F.C.G. REVISEURS D'ENTREPRISES2025 accounts filed 21 days late4 of 6 deeds summarised
Signalsraises riskNegative equityRegister: special situation2025 accounts filed 21 days lateneutralEarlier reorganisation (closed)Show the evidence
Checked score
Score 2025
Checked score
A figure from 0 to 100 for financial health from the latest annual accounts: the higher, the healthier. There is no bankruptcy probability for this company, so the score rests on the figures alone.
3/ 100
Critical
Without a bankruptcy probability: score from the figures alone
How strong the balance sheet and results are: solvency, liquidity and profitability from the latest annual accounts, each out of 100. Without a bankruptcy probability, this company's Checked score rests on these figures.
Weak
Solvency9-7
equity -16.3% of total assets
Liquidity6-33
short-term debt 80.1% · cash 0.0%
Profitability10-5
return on assets -7.2%
Bankruptcy probability, 12 months
Bankruptcy probability
The chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. 0.2% means about 2 in 1,000 comparable companies. The higher it is, the shorter the payment term to agree.
Judicial reorganisation
About 1 in 4 comparable companies went bankrupt within the year
A judicial reorganisation is open: we then compute no probability from the figures. Measured over every Belgian company in an open or failed reorganisation: 25% to 26% bankrupt within twelve months (2024 and 2025).
No credit on open account during an ongoing judicial reorganisation
Liquidity insufficient (current ratio 0.02, compared with 0.06 in 2024, below 1; short-term debt: 80.1% and cash: 0% of total assets), and equity is negative.
Signals
Four signals.
raises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 34 days after the deadline; the sector median (NACE 55) for financial year 2024 is 1 day before the deadline, and 45% 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 21 August (4 of the last 5 filed years within 50 days of that day).