Losses
-€2.5m in seven years
Every financial year from 2019 to 2025 closed with a loss. 2023 was the heaviest.
PRQ
Lifetime
7 annual accounts with figures on one time axispeak €703,928 (2024)
€555,575▼ 21.1%
lowest -€1.5m (2023)
-€368,638▲ €173,603
peak €47.5m (2025)
€47.5m▲ €49.6m
€20.9m▲ 5.5%
Board8 names since 2019
3 directorsFVO MANAGEMENT and 2 others
Owners
consolidatesRECIPE
Documentsfilings and deeds
28-07-20263 days before the deadline
2025abbreviated format
Gross margin from €703,928 to €555,575Loss of €368,638Capital contribution of €50,000,000 05-08Registered office moved within Antwerp 11-04Equity from -€2.1m to €47.5mCash from €18,529 to €4,349
Key points
from the 2025 annual accountsLiquidity
2.47 was 0.02 in 2024
Short-term debts rose from €19.7m to €20.8m.
Position in the sector
-€368,638
Lower net result than 95% of companies in real estate. Sector median €9,997 · 11,290 companies.
Checked score
82
Excellent
Financially stronger than 53% of large companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 317 companies (NACE 68, large).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.5%lowest value
01-2025: 0.5%● unchanged vs 12-2024lowest value
02-2025: 0.5%● unchanged vs 01-2025lowest value
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025
05-2025: 1.1%▲ +0.6 percentage points vs 04-2025
06-2025: 1.2%▲ +0.1 percentage points vs 05-2025
07-2025: 1.3%▲ +0.1 percentage points vs 06-2025
08-2025: 1.7%▲ +0.4 percentage points vs 07-2025highest value
09-2025: 1.3%▼ -0.4 percentage points vs 08-2025
10-2025: 1.3%● unchanged vs 09-2025
11-2025: 1.3%● unchanged vs 10-2025
12-2025: 1.2%▼ -0.1 percentage points vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.3%▲ +0.1 percentage points vs 04-2026
06-2026: 1.3%● unchanged vs 05-2026
07-2026: 1.3%● unchanged vs 06-2026
08-2026: 0.6%▼ -0.7 percentage points vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 2.47, cash €4,349, halved
1 change of registered office in 24 months
lowers risk
Size: total assets €68.4m
Sector: Real estate activities (NACE 68)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, large). It does better than 80% of them on solvency, 22% on liquidity, 11% on profitability and 98% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 249 companies had the same profile as PRQ has now. Each dot is one company, two years later.
94.0%
were still trading
4.8%
stopped another way
0.8%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PRQ itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 249 companies, not a prediction for PRQ. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,850,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.47 (0.02 in 2024), above the usual 1.5. Short-term debt is 30.4% and cash 0% of total assets. 30.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 28-07-2026, 3 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
3 days early
2024
8 days late
2023
28 days early
2022
on the day
2021
2 days early
2020
31 days early
2019
125 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 10 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 29 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- RECIPE 100%deed of 05-08-2025
Shares in 2 companies, BLOEMEN MAMPAEY and IMMO BOSKAPEL
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0695403688
Capital contribution of €50,000,000
Contribution: RECIPE · RECIPE holds all the shares · Gazette deed
Registered office moved within Antwerp
New registered office: Kattendijkdok-Westkaai 12.001, 2000 Antwerpen · Previous registered office: Korte Vlierstraat 6 bus 211, 2000 Antwerpen, België · Permanent representatives: Bruno Vanwelsenaers and Pieter Wagemans · Board meeting of 19-02-2025 · Gazette deed
Environmental permit granted
Verwijderen van vrijstaande gebouwen · Rumst
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PRQ Antwerp | €68.4m | €0.6m | 69.5% | - |
| LACAGRO Antwerp | €58.3m | €1.3m | 9.1% | - |
| Nénuphar Vert Charleroi | €38.3m | €0.6m | 99.7% | - |
| CCN DEVELOPMENT Brussels | €129.1m | €1.0m | 71.6% | - |
| ULP-I Antwerp | €43.5m | €1.0m | 10.1% | - |
| VP Invest Zandhoven | €30.2m | €0.4m | 4.5% | 0.8 |
| T2 Genk | €37.2m | €1.3m | 46.1% | 3.6 |
These companies have the same main activity as PRQ: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €30m and €129m, founded between 2014 and 2020.
Official details
Source: KBO- Status
- Active since 24-04-2018Normal situation
- Registered office
- 32 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Buying and selling of own real estateNACE 68110
- Establishment unit
- 2.275.862.7952000 Antwerp, since 24-04-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- ≈ €990,000estimated
- €68.4m▲ 287%
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on PRQ
PRQ files the abbreviated format. That format states no turnover. The gross margin rose from €19,372 in 2019 to €555,575 in 2025.
RECIPE holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PRQ
- What is the company number of PRQ?
- The company number of PRQ is 0695.403.688. The VAT number is the same number with BE in front: BE 0695.403.688.
- Where is PRQ based?
- The registered office is at Kattendijkdok-Westkaai 12.001, 2000 Antwerp.Company details
- What does PRQ do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of PRQ?
- PRQ is a private limited company (BV).
- When was PRQ founded?
- PRQ was founded on 24-04-2018.
- Is PRQ still active?
- Yes, PRQ is an active enterprise in the KBO register.
- What is the turnover of PRQ?
- The turnover in financial year 2025 is ≈ €990,000. This figure is estimated from the gross margin of €555,575 and 40 comparable companies (NACE 681). It probably lies between €740,000 and €1.6m.Financials
- Is PRQ profitable?
- In financial year 2025, PRQ made a loss of €368,638.
- Where can I find the annual accounts of PRQ?
- PRQ filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PRQ due?
- PRQ must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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