POPPY CAESAR
ActiveSummary
POPPY CAESAR has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.68M and a net result of €-373k. Equity is shrinking by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 27% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability25▲+3
Solvency33▼-2
Growth22=
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 acceptable
Liquidity short (current ratio 0.22 against 0.26 in 2024; short-term debt: 32.4% and cash: 0.3% of total assets), and 91.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 · 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
8.5%
Return on assets
-1.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-373k
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 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
51 d early
2023
58 d early
2022
56 d early
2021
51 d early
2020
40 d early
2019
89 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.22M▼ 14.8%
2018 · €1.43M
2018: €1.43M
2019: €1.22M▼ -14.8% vs 2018
2018 → 2019
EBIT margin
44.2%▲ 3.2pp
2018 · 40.9%
2018: 40.9%
2019: 44.2%▲ +7.9% vs 2018
2018 → 2019
Net result
€-373k▲ 44.0%
2024 · €-665k
2018: €93k
2019: €61k▼ -34.2% vs 2018
2020: €121k▲ +97.6% vs 2019
2021: €181k▲ +50.4% vs 2020
2022: €244k▲ +34.5% vs 2021highest in 8 years
2023: €-424k▼ -274% vs 2022
2024: €-665k▼ -56.8% vs 2023lowest in 8 years
2025: €-373k▲ +44.0% vs 2024
2018 → 2025
Working capital
€-5.04M▼ 17.7%
2024 · €-4.28M
2018: €2.55Mhighest in 8 years
2019: €-18.18M▼ -812% vs 2018lowest in 8 years
2020: €-1.91M▲ +89.5% vs 2019
2021: €-2.40M▼ -26.0% vs 2020
2022: €-2.58M▼ -7.4% vs 2021
2023: €-3.49M▼ -35.1% vs 2022
2024: €-4.28M▼ -22.7% vs 2023
2025: €-5.04M▼ -17.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.90M-€3.14M▲ 8.4%€2.72M▼ 13.5%€2.05M▼ 24.5%€1.68M▼ 18.1%
2021: €2.90M
2022: €3.14M▲ +8.4% vs 2021highest in 5 years
2023: €2.72M▼ -13.5% vs 2022
2024: €2.05M▼ -24.5% vs 2023
2025: €1.68M▼ -18.1% vs 2024lowest in 5 years
Operating result€599k-€699k▲ 16.7%€322k▼ 53.9%€178k▼ 44.6%€114k▼ 36.0%
2021: €599k
2022: €699k▲ +16.7% vs 2021highest in 5 years
2023: €322k▼ -53.9% vs 2022
2024: €178k▼ -44.6% vs 2023
2025: €114k▼ -36.0% vs 2024lowest in 5 years
Net result€181k-€244k▲ 34.5%€-424k€-665k▼ 56.8%€-373k▲ 44.0%
2021: €181k
2022: €244k▲ +34.5% vs 2021highest in 5 years
2023: €-424k▼ -274% vs 2022
2024: €-665k▼ -56.8% vs 2023lowest in 5 years
2025: €-373k▲ +44.0% vs 2024
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 36% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €19.87M
Fixed assets
€18.47M ▼ 2.7%
Current assets
€1.40M ▼ 7.0%
Equity and liabilities €19.87M
Equity
€1.68M ▼ 18.1%
Debt
€18.19M ▼ 1.4%
Debt's share of the balance-sheet total rises from 90.0% to 91.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€633k▼
2024 · €697k
Cash flow
€146k▲
2024 · €-146k
Current ratio
0.22▼
2024 · 0.26
Debt to equity
10.81▲
2024 · 8.98
ROE
-22.2%▲
2024 · -32.4%
ROA
-1.9%▲
2024 · -3.2%
Interest coverage
1.00▲
2024 · 0.83
Debt ≤ 1 year
€6.44M▲
2024 · €5.79M
Debt > 1 year
€11.27M▼
2024 · €12.17M
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 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€20.50M€19.87M▼
Fixed assets21/28€18.99M€18.47M▼
Tangible fixed assets22/27€18.99M€18.47M▼
Land and buildings22€18.99M€18.47M▼
Current assets29/58€1.51M€1.40M▼
Amounts receivable within one year40/41€1.20M€1.26M▲
Trade receivables40€1.20M€1.26M▲
Cash at bank and in hand54/58€72k€60k▼
Deferred charges and accrued income490/1€235k€85k▼
Equity and liabilities
Total equity and liabilities10/49€20.50M€19.87M▼
Equity10/15€2.05M€1.68M▼
Contributions10/11€2.20M€2.20M=
Capital10€2.20M€2.20M=
Issued capital100€2.20M€2.20M=
Reserves13€49k€49k=
Non-distributable reserves130/1€49k€49k=
Legal reserve130€49k€49k=
Profit (loss) carried forward14€-197k€-570k▼
Amounts payable17/49€18.44M€18.19M▼
Amounts payable after more than one year17€12.17M€11.27M▼
Financial debts170/4€12.05M€11.15M▼
Other amounts payable178/9€125k€125k=
Amounts payable within one year42/48€5.79M€6.44M▲
Current portion of amounts payable after more than one year42€900k€900k=
Financial debts43€4.10M€4.93M▲
Other loans439€4.10M€4.93M▲
Trade debts44€645k€600k▼
Suppliers440/4€645k€600k▼
Other amounts payable47/48€147k€9k▼
Accrued charges and deferred income492/3€482k€478k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€519k€519k=
Other operating charges640/8€569k€646k▲
Gross operating margin9900€1.27M€1.28M▲
Operating profit (loss)9901€178k€114k▼
Financial income75/76B€455€146k▲
Recurring financial income75€455€146k▲
Non-recurring financial income76B-€146k
Financial charges65/66B€844k€633k▼
Recurring financial charges65€844k€633k▼
Profit (loss) for the period before taxes9903€-665k€-373k▲
Profit (loss) for the period9904€-665k€-373k▲
Profit (loss) for the period to be appropriated9905€-665k€-373k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-197k€-570k▼
Profit (loss) brought forward from the previous period14P€468k€-197k▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €519k | €519k | €519k | €519k | €519k | = |
| Other operating charges640/8 | €478k | €510k | €538k | €569k | €646k | ▲ 13.4% |
| Gross operating margin9900 | €1.60M | €1.73M | €1.38M | €1.27M | €1.28M | ▲ 0.9% |
| Operating profit (loss)9901 | €599k | €699k | €322k | €178k | €114k | ▼ 36.0% |
| Financial income75/76B | - | - | - | €455 | €146k | ▲ 32,118% |
| Recurring financial income75 | - | - | - | €455 | €146k | ▲ 32,118% |
| Non-recurring financial income76B | - | - | - | - | €146k | - |
| Financial charges65/66B | €334k | €339k | €746k | €844k | €633k | ▼ 25.0% |
| Recurring financial charges65 | €334k | €339k | €746k | €844k | €633k | ▼ 25.0% |
| Profit (loss) for the period before taxes9903 | €265k | €360k | €-424k | €-665k | €-373k | ▲ 44.0% |
| Income taxes67/77 | €83k | €116k | - | - | - | - |
| Profit (loss) for the period9904 | €181k | €244k | €-424k | €-665k | €-373k | ▲ 44.0% |
| Profit (loss) for the period to be appropriated9905 | €181k | €244k | €-424k | €-665k | €-373k | ▲ 44.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €21.32M | €21.28M | €20.06M | €20.50M | €19.87M | ▼ 3.0% |
| Fixed assets21/28 | €20.55M | €20.03M | €19.51M | €18.99M | €18.47M | ▼ 2.7% |
| Tangible fixed assets22/27 | €20.55M | €20.03M | €19.51M | €18.99M | €18.47M | ▼ 2.7% |
| Land and buildings22 | €20.55M | €20.03M | €19.51M | €18.99M | €18.47M | ▼ 2.7% |
| Current assets29/58 | €773k | €1.25M | €551k | €1.51M | €1.40M | ▼ 7.0% |
| Amounts receivable within one year40/41 | €400k | €431k | €208k | €1.20M | €1.26M | ▲ 4.6% |
| Trade receivables40 | €391k | €431k | €208k | €1.20M | €1.26M | ▲ 4.6% |
| Other amounts receivable41 | €8k | - | - | - | - | - |
| Cash at bank and in hand54/58 | €293k | €763k | €34k | €72k | €60k | ▼ 15.7% |
| Deferred charges and accrued income490/1 | €81k | €52k | €309k | €235k | €85k | ▼ 63.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €21.32M | €21.28M | €20.06M | €20.50M | €19.87M | ▼ 3.0% |
| Equity10/15 | €2.90M | €3.14M | €2.72M | €2.05M | €1.68M | ▼ 18.1% |
| Contributions10/11 | €2.20M | €2.20M | €2.20M | €2.20M | €2.20M | = |
| Capital10 | €2.20M | €2.20M | €2.20M | €2.20M | €2.20M | = |
| Issued capital100 | €2.20M | €2.20M | €2.20M | €2.20M | €2.20M | = |
| Reserves13 | €37k | €49k | €49k | €49k | €49k | = |
| Non-distributable reserves130/1 | €37k | €49k | €49k | €49k | €49k | = |
| Legal reserve130 | €37k | €49k | €49k | €49k | €49k | = |
| Profit (loss) carried forward14 | €660k | €892k | €468k | €-197k | €-570k | ▼ 189% |
| Amounts payable17/49 | €18.42M | €18.13M | €17.34M | €18.44M | €18.19M | ▼ 1.4% |
| Amounts payable after more than one year17 | €15.14M | €14.18M | €13.11M | €12.17M | €11.27M | ▼ 7.4% |
| Financial debts170/4 | €14.75M | €13.85M | €12.95M | €12.05M | €11.15M | ▼ 7.5% |
| Other amounts payable178/9 | €387k | €334k | €158k | €125k | €125k | = |
| Amounts payable within one year42/48 | €3.18M | €3.83M | €4.04M | €5.79M | €6.44M | ▲ 11.3% |
| Current portion of amounts payable after more than one year42 | €900k | €900k | €900k | €900k | €900k | = |
| Financial debts43 | €2.02M | €2.58M | €2.48M | €4.10M | €4.93M | ▲ 20.4% |
| Other loans439 | €2.02M | €2.58M | €2.48M | €4.10M | €4.93M | ▲ 20.4% |
| Trade debts44 | €236k | €303k | €414k | €645k | €600k | ▼ 7.0% |
| Suppliers440/4 | €236k | €303k | €414k | €645k | €600k | ▼ 7.0% |
| Taxes, remuneration and social security45 | €17k | €43k | €31k | - | - | - |
| Taxes450/3 | €17k | €43k | €31k | - | - | - |
| Other amounts payable47/48 | - | - | €212k | €147k | €9k | ▼ 93.8% |
| Accrued charges and deferred income492/3 | €107k | €120k | €196k | €482k | €478k | ▼ 0.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €181k | €244k | €-424k | €-665k | €-373k | ▲ 44.0% |
| + Depreciation and write-downs630 | €519k | €519k | €519k | €519k | €519k | = |
| Operating cash flow (approximation) | €700k | €762k | €95k | €-146k | €146k | ▲ 200% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €470k | €-729k | €38k | €-11k | ▼ 130% |
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
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-665k
Net result drops to €-665k, the lowest in the series; recovery starts the following year.
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €244k ▲34.5%
Operating result €699k, net result €244k, both a record.
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 89 days late
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
15 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, Gent · 1 establishment unit since 2015
Ground area
7,465 m²
Building footprint
1,076 m²
Volume, LiDAR
5,447 m³
Parcel 44808H0746/00B000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
49
companies at this address
See who is registered here
1 establishment unit
Poppy Caesar
since 20152.247.537.807
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0746/00B000 | Flanders | 7,465 m² | 1 · 1,075 m² | 8.1 m · 2 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.
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 4,466 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
Founded05-11-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.