PROPICO
ActiveSummary
PROPICO has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €196,464 and a net result of -€11,122. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 95% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-30
Solvency100=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 38.47; short-term debt: 2.1% and cash: 52.8% of total assets), and 2.1% 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○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
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 22-05-2026, 70 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
70 d early
2024
76 d early
2023
64 d early
2022
70 d early
2021
72 d early
2020
66 d early
2019
67 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 69 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 (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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€196,464▼ 5.4%
2024 · €207,585
Total assets
€200,615▼ 3.9%
2024 · €208,693
Net result
-€11,122
2024 · €3,384
Working capital
€155,549▼ 10.0%
2024 · €172,880
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€12,400▼ 661%€625€369▼ 41.0%€4,455▲ 1,109%-€9,350
Net result-€13,182below the sector's middle half▼ 1,498%-€2,641within the sector's middle half▲ 80.0%-€580within the sector's middle half▲ 78.0%€3,384within the sector's middle half-€11,122within the sector's middle half
Equity€207,422within the sector's middle half▼ 6.0%€204,781within the sector's middle half▼ 1.3%€204,201within the sector's middle half▼ 0.3%€207,585within the sector's middle half▲ 1.7%€196,464within the sector's middle half▼ 5.4%
Total assets€221,380within the sector's middle half▼ 0.3%€213,193within the sector's middle half▼ 3.7%€208,712below the sector's middle half▼ 2.1%€208,693below the sector's middle half=€200,615below the sector's middle half▼ 3.9%
Debt€13,958▲ 826%€8,412▼ 39.7%€4,511▼ 46.4%€1,108▼ 75.4%€4,152▲ 275%
Working capital€172,717▼ 7.1%€170,076▼ 1.5%€169,496▼ 0.3%€172,880▲ 2.0%€155,549▼ 10.0%
Solvency93.7%above the sector's middle half▼ 5.6pp96.1%above the sector's middle half▲ 2.4pp97.8%above the sector's middle half▲ 1.8pp99.5%above the sector's middle half▲ 1.6pp97.9%above the sector's middle half▼ 1.5pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
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 turns negative in 2025: a loss of €9,350 after €4,455 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €200,615
Fixed assets
€40,915 ▲ 17.9%
Current assets
€159,700 ▼ 8.2%
Equity and liabilities €200,615
Equity
€196,464 ▼ 5.4%
Debt
€4,152 ▲ 275%
Debt's share of the balance-sheet total rises from 0.5% to 2.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€8,649
Cash flow
-€10,420
Current ratio
38.47
Debt to equity
0.02▲
2024 · 0.01
ROE
-5.7%▼
2024 · 1.6%
ROA
-5.5%▼
2024 · 1.6%
Interest coverage
-3.02
Debt ≤ 1 year
€4,152▲
2024 · €1,108
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,304 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5,000 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €702 | - |
| Other operating charges640/8 | €3,977 | €4,183 | €4,479 | €3,222 | €3,879 | ▲ 20.4% |
| Gross operating margin9900 | -€8,423 | €4,808 | €4,848 | €7,676 | -€4,770 | ▼ 162% |
| Operating profit (loss)9901 | -€12,400 | €625 | €369 | €4,455 | -€9,350 | ▼ 310% |
| Financial income75/76B | €1,100 | €1,461 | €1,238 | €1,231 | €1,088 | ▼ 11.6% |
| Recurring financial income75 | €1,100 | €1,461 | €1,238 | €1,231 | €1,088 | ▼ 11.6% |
| Financial charges65/66B | €1,630 | €4,474 | €1,934 | €2,265 | €2,859 | ▲ 26.2% |
| Recurring financial charges65 | €1,630 | €4,474 | €1,934 | €2,265 | €2,859 | ▲ 26.2% |
| Profit (loss) for the period before taxes9903 | -€12,930 | -€2,388 | -€327 | €3,420 | -€11,122 | ▼ 425% |
| Income taxes67/77 | €253 | €253 | €253 | €36 | - | - |
| Profit (loss) for the period9904 | -€13,182 | -€2,641 | -€580 | €3,384 | -€11,122 | ▼ 429% |
| Profit (loss) for the period to be appropriated9905 | -€13,182 | -€2,641 | -€580 | €3,384 | -€11,122 | ▼ 429% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €221,380 | €213,193 | €208,712 | €208,693 | €200,615 | ▼ 3.9% |
| Fixed assets21/28 | €34,705 | €34,705 | €34,705 | €34,705 | €40,915 | ▲ 17.9% |
| Tangible fixed assets22/27 | €34,705 | €34,705 | €34,705 | €34,705 | €40,915 | ▲ 17.9% |
| Land and buildings22 | €34,705 | €34,705 | €34,705 | €34,705 | €34,705 | = |
| Furniture and vehicles24 | - | - | - | - | €6,210 | - |
| Current assets29/58 | €186,675 | €178,488 | €174,007 | €173,988 | €159,700 | ▼ 8.2% |
| Amounts receivable within one year40/41 | €77 | €186 | €101 | €351 | €289 | ▼ 17.8% |
| Other amounts receivable41 | €77 | €186 | €101 | €351 | €289 | ▼ 17.8% |
| Current investments50/53 | €106,835 | €53,417 | €53,417 | €53,417 | €53,417 | = |
| Cash at bank and in hand54/58 | €79,763 | €124,885 | €120,429 | €120,098 | €105,869 | ▼ 11.8% |
| Deferred charges and accrued income490/1 | - | - | €60 | €121 | €125 | ▲ 2.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €221,380 | €213,193 | €208,712 | €208,693 | €200,615 | ▼ 3.9% |
| Equity10/15 | €207,422 | €204,781 | €204,201 | €207,585 | €196,464 | ▼ 5.4% |
| Contributions10/11 | €168,000 | €168,000 | €168,000 | €168,000 | €168,000 | = |
| Capital10 | €168,000 | €168,000 | €168,000 | €168,000 | €168,000 | = |
| Issued capital100 | €168,000 | €168,000 | €168,000 | €168,000 | €168,000 | = |
| Reserves13 | €39,422 | €36,781 | €36,201 | €39,585 | €28,464 | ▼ 28.1% |
| Non-distributable reserves130/1 | €21,691 | €21,691 | €21,691 | €21,691 | €21,691 | = |
| Legal reserve130 | €21,691 | €21,691 | €21,691 | €21,691 | €21,691 | = |
| Distributable reserves133 | €17,731 | €15,090 | €14,510 | €17,895 | €6,773 | ▼ 62.2% |
| Amounts payable17/49 | €13,958 | €8,412 | €4,511 | €1,108 | €4,152 | ▲ 275% |
| Amounts payable within one year42/48 | €13,958 | €8,412 | €4,511 | €1,108 | €4,152 | ▲ 275% |
| Trade debts44 | - | €589 | €2,753 | €410 | €3,670 | ▲ 796% |
| Suppliers440/4 | - | €589 | €2,753 | €410 | €3,670 | ▲ 796% |
| Other amounts payable47/48 | €13,958 | €7,823 | €1,759 | €698 | €482 | ▼ 30.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,182 | -€2,641 | -€580 | €3,384 | -€11,122 | ▼ 429% |
| + Depreciation and write-downs630 | - | - | - | - | €702 | - |
| Operating cash flow (approximation) | -€13,182 | -€2,641 | -€580 | €3,384 | -€10,420 | ▼ 408% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€6,912 | - |
| Change in cash | - | €45,122 | -€4,457 | -€331 | -€14,229 | ▼ 4,197% |
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
22-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €3,384
Net result €3,384 after 5 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 157.08
Current ratio from 38.57 to 157.08; short-term debt falls from €4,511 to €1,108.
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
22-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€13,182
Net result drops to -€13,182, the lowest in the series; recovery starts the following year.
26-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity doublescurrent ratio 124.30
Current ratio from 53.05 to 124.30; short-term debt falls from €3,565 to €1,508.
25-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
22-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-06
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, Ninove · 1 establishment unit since 1992
Ground area
475 m²
Building footprint
475 m²
Volume, LiDAR
2,752 m³
Parcel 41045A0263/00P002, Flanders · tallest building 10.9 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Halsesteenweg 350, 9403 Ninove
since 19922.056.849.762
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41045A0263/00P002 | Flanders | 475 m² | 1 · 475 m² | 10.9 m · 1 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.
Recognitions · licences · registrations
Legal Entity Identifier
8755008JIJVR6LO2LB50
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 4,766 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
Founded02-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446799123
Also
9925:BE0446799123
Registered
03-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.