Properties Plus
ActiveSummary
Properties Plus has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €296,073 and a net result of -€34,927. Equity is growing by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 29% of 9268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▲+7
Solvency35▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 2.03 in 2024; short-term debt: 52.6% and cash: 25.7% of total assets), and 90% of the assets are financed with debt.
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Signals
Four 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
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
192122232425
2019 to 2025 · latest year -€34,927
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
24 d early
2023
1 d early
2022
43 d early
2021
49 d early
2020
3 d early
2019
58 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 21 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 company by total assets in Pittem, Real estate sector#9 oldest company in Pittem, Real estate sector#10 company by equity in Pittem, Real estate sector
Equity
€296,073▼ 10.6%
2024 · €331,000
Total assets
€3.0m▲ 24.7%
2024 · €2.4m
Net result
-€34,927▲ 50.4%
2024 · -€70,469
Working capital
€218,798▼ 76.7%
2024 · €937,397
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-€1,817--€2,288▼ 26.0%€183,463-€7,648-€104,611▼ 1,268%
Net result-€9,664-€17,847€127,885▲ 617%-€70,469-€34,927▲ 50.4%
Equity€255,736-€273,583▲ 7.0%€401,469▲ 46.7%€331,000▼ 17.6%€296,073▼ 10.6%
Total assets€1.4m-€1.5m▲ 5.7%€2.4m▲ 64.2%€2.4m▼ 1.2%€3.0m▲ 24.7%
Debt€1.1m-€1.2m▲ 5.4%€2.0m▲ 68.2%€2.0m▲ 2.1%€2.7m▲ 30.5%
Working capital€1.2m-€1.3m▲ 5.9%€963,745▼ 26.7%€937,397▼ 2.7%€218,798▼ 76.7%
Staff (FTE)0
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €104,611 in 2025 against €7,648 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
Fixed assets
€1.2m ▲ 126%
Current assets
€1.8m ▼ 3.9%
Equity and liabilities €3.0m
Equity
€296,073 ▼ 10.6%
Debt
€2.7m ▲ 30.5%
Debt's share of the balance-sheet total rises from 86.0% to 90.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€47,234
Cash flow
€116,918
Current ratio
1.14▼
2024 · 2.03
Quick ratio
0.64▼
2024 · 1.19
Debt to equity
8.99▲
2024 · 6.16
ROE
-11.8%▲
2024 · -21.3%
ROA
-1.2%▲
2024 · -3.0%
Interest coverage
2.40
Debt ≤ 1 year
€1.6m▲
2024 · €908,808
Debt > 1 year
€1.1m▲
2024 · €1.1m
Income taxes
€788▲
2024 · €0
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €151,845 | - |
| Other operating charges640/8 | - | €459 | €1,727 | €1,075 | €8,835 | ▲ 722% |
| Gross operating margin9900 | -€1,817 | -€1,830 | €185,189 | -€6,573 | €56,068 | ▲ 953% |
| Operating profit (loss)9901 | -€1,817 | -€2,288 | €183,463 | -€7,648 | -€104,611 | ▼ 1,268% |
| Financial income75/76B | - | €33,634 | €0 | - | €90,181 | - |
| Recurring financial income75 | €265 | €33,634 | €0 | - | €90,181 | - |
| Financial charges65/66B | - | €10,567 | €14,056 | €62,821 | €19,709 | ▼ 68.6% |
| Recurring financial charges65 | €8,112 | €10,567 | €14,056 | €62,821 | €19,709 | ▼ 68.6% |
| Profit (loss) for the period before taxes9903 | -€9,664 | €20,779 | €169,406 | -€70,469 | -€34,139 | ▲ 51.6% |
| Income taxes67/77 | - | €2,932 | €41,521 | €0 | €788 | - |
| Profit (loss) for the period9904 | -€9,664 | €17,847 | €127,885 | -€70,469 | -€34,927 | ▲ 50.4% |
| Profit (loss) for the period to be appropriated9905 | -€9,664 | €17,847 | €127,885 | -€70,469 | -€34,927 | ▲ 50.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.5m | €2.4m | €2.4m | €3.0m | ▲ 24.7% |
| Fixed assets21/28 | - | - | €525,000 | €525,000 | €1.2m | ▲ 126% |
| Intangible fixed assets21 | - | - | - | - | €82,925 | - |
| Tangible fixed assets22/27 | - | - | - | - | €1.1m | - |
| Land and buildings22 | - | - | - | - | €1.0m | - |
| Furniture and vehicles24 | - | - | - | - | €61,619 | - |
| Financial fixed assets28 | - | - | €525,000 | €525,000 | €28,415 | ▼ 94.6% |
| Current assets29/58 | €1.4m | €1.5m | €1.9m | €1.8m | €1.8m | ▼ 3.9% |
| Amounts receivable after more than one year29 | - | €842,500 | €898,125 | €925,565 | €225,000 | ▼ 75.7% |
| Other amounts receivable291 | - | €842,500 | €898,125 | €925,565 | €225,000 | ▼ 75.7% |
| Stocks and contracts in progress3 | - | - | €767,200 | €767,200 | €785,300 | ▲ 2.4% |
| Stocks30/36 | - | - | €767,200 | €767,200 | €785,300 | ▲ 2.4% |
| Amounts receivable within one year40/41 | €344 | €737 | €485 | €1,286 | €3,980 | ▲ 210% |
| Trade receivables40 | - | - | - | - | €3,964 | - |
| Other amounts receivable41 | - | €737 | €485 | €1,286 | €16 | ▼ 98.8% |
| Cash at bank and in hand54/58 | €160,709 | €618,872 | €209,342 | €152,153 | €759,075 | ▲ 399% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.5m | €2.4m | €2.4m | €3.0m | ▲ 24.7% |
| Equity10/15 | €255,736 | €273,583 | €401,469 | €331,000 | €296,073 | ▼ 10.6% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €165,400 | €173,583 | €301,469 | €231,000 | €196,073 | ▼ 15.1% |
| Non-distributable reserves130/1 | - | €10,000 | €10,000 | €0 | - | - |
| Reserves not available under the articles1311 | - | €10,000 | €10,000 | €0 | - | - |
| Distributable reserves133 | - | €163,583 | €291,469 | €231,000 | €196,073 | ▼ 15.1% |
| Profit (loss) carried forward14 | -€9,664 | €0 | - | - | - | - |
| Amounts payable17/49 | €1.1m | €1.2m | €2.0m | €2.0m | €2.7m | ▲ 30.5% |
| Amounts payable after more than one year17 | €986,009 | €1.0m | €1.1m | €1.1m | €1.1m | ▲ 2.2% |
| Financial debts170/4 | - | €1.0m | €1.1m | €1.1m | €1.1m | ▲ 2.2% |
| Amounts payable within one year42/48 | €141,807 | €146,879 | €911,407 | €908,808 | €1.6m | ▲ 71.1% |
| Financial debts43 | - | - | €625,000 | €625,000 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €625,000 | €625,000 | €0 | ▼ 100% |
| Trade debts44 | €186 | €0 | €535 | €239 | €8,935 | ▲ 3,640% |
| Suppliers440/4 | - | €0 | €535 | €239 | €8,935 | ▲ 3,640% |
| Taxes, remuneration and social security45 | - | €6,045 | €2,304 | €0 | €12,052 | - |
| Taxes450/3 | - | €6,045 | €2,304 | €0 | €12,052 | - |
| Other amounts payable47/48 | - | €140,834 | €283,569 | €283,569 | €1.5m | ▲ 441% |
| Accrued charges and deferred income492/3 | - | - | €13,365 | €48,130 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,664 | €17,847 | €127,885 | -€70,469 | -€34,927 | ▲ 50.4% |
| + Depreciation and write-downs630 | - | - | - | - | €151,845 | - |
| Operating cash flow (approximation) | -€9,664 | €17,847 | €127,885 | -€70,469 | €116,918 | ▲ 266% |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€811,176 | - |
| Change in cash | - | €458,163 | -€409,530 | -€57,188 | €606,921 | ▲ 1,161% |
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
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
07-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Weakest financial yearnet -€70,469
Net result drops to -€70,469, the lowest in the series; recovery starts the following year.
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Highest result since 2019net €127,885 ▲617%
Operating result €183,463, net result €127,885, both a record.
2022
19-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €17,847
Net result €17,847 after 2 loss-making years.
2021
13-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Liquidity times 5current ratio 9.76
Current ratio from 2.08 to 9.76; short-term debt falls from €142,990 to €141,807.
30-06
Financial
Equity above €200,000Eq €255,736 ▲533%
Equity rises from €40,417 to €255,736.
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
04-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
04-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
12-01
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 6 acts read
About the unread acts
We know of 6 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
6 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, Pittem · 1 establishment unit since 2012
Ground area
3,095 m²
Building footprint
212 m²
Volume, LiDAR
1,128 m³
Parcel 37011A0515/00D000, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Kapelleweg 25, 8740 Pittem
since 20122.212.854.763
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011A0515/00D000 | Flanders | 3,095 m² | 1 · 212 m² | 10.3 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 9,699 companies in sector 68121 we hold annual accounts for 7,384. 5,171 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded16-07-2012
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.