Equity
-€76,002
Debts exceed assets in financial year 2025.
R2
Lifetime
4 annual accounts with figures on one time axispeak €25,744 (2023)
-€3,275▲ €51,899
lowest -€78,435 (2024)
-€3,616▲ €74,820
peak €6,050 (2023)
-€76,002▼ €3,616
€98,964▼ 61.1%
Board1 name since 2021
1 directorDEMOULIN Pierre Maurice Léon Herman
Documentsfilings and deeds
25-08-202625 days late
2025micro format
Gross margin from -€55,174 to -€3,275Loss of €3,616Debts from €254,555 to €98,964Cash from €182,169 to €22,561
Key points
from the 2025 annual accountsResult
-€3,616 ▲ 95.4%
The result rose in 2025 from -€78,435 to -€3,616.
Debts
€98,964 431% of the balance sheet
Liquidity
0.23 was 0.72 in 2024
Short-term debts fell from €254,555 to €98,964.
Filings
4 annual accounts 4 late
The 2023 accounts came latest: 41 days after the end of the period.
Position in the sector
-331.0%
Lower solvency than 95% of companies in real estate. Sector median 28.9% · 17,194 companies.
Turnover not published (micro format)
Checked score
54
Fair
Financially stronger than 23% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.3%
01-2025: 1.3%● unchanged vs 12-2024
02-2025: 1.3%● unchanged vs 01-2025
03-2025: 1.3%● unchanged vs 02-2025
04-2025: 1.3%● unchanged vs 03-2025
05-2025: 1.3%● unchanged vs 04-2025
06-2025: 1.3%● unchanged vs 05-2025
07-2025: 1.2%▼ -0.1 percentage points vs 06-2025
08-2025: 1.8%▲ +0.6 percentage points vs 07-2025highest value
09-2025: 0.5%▼ -1.3 percentage points vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.4%▼ -0.1 percentage points vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026lowest value
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.2 percentage points vs 07-2026
09-2026: 0.5%▼ -0.1 percentage points vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€76,002
lowers risk
Sector: Real estate activities (NACE 68)
Size: total assets €22,962
Liquidity: current ratio 0.23, cash €22,561, halved
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, micro). It does better than 5% of them on solvency, 49% on liquidity, 4% on profitability and 34% on growth.
The bankruptcy probability was computed on 10-11-2026 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 very low class on 30-06-2025, 0.1% 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, 6,008 companies had the same profile as R2 has now. Each dot stands for 16 companies, two years later.
83.0%
were still trading
8.4%
stopped another way
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of R2 itself is lower: 0.5% within 12 months. It rests on far more data about R2 than the profile alone.
Test of the method
The method was tested on the 497,448 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 6,008 companies, not a prediction for R2. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.23 (0.72 in 2024), below 1. Short-term debt is 431% and cash 98.3% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
22232425
2022 to 2025 · latest year -€76,002
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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.
NBB · 4 filingsDeviation from the deadline
2025
25 days late
2024
29 days late
2023
41 days late
2022
22 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 29 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 27 August (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- DEMOULIN Pierre Maurice Léon Herman 100 sharesdeed of 29-03-2021
Recent changes
Incorporation
Founding capital of €7,500, 100 shares · Founder: DEMOULIN Pierre Maurice Léon Herman · Appointment: DEMOULIN Pierre Maurice Léon Herman (director) · published on 29-03-2021 · Gazette deed
First establishment
Rue de la Marka 19, Eghezée
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| R2 Eghezée | €22,962 | -€3,275 | -331.0% | - |
| ComfortBuild Mechelen | €23,275 | €195 | 83.6% | - |
| BRIQS Bornem | €25,305 | -€2,334 | 67.9% | - |
| LOUMAX Londerzeel | €27,860 | -€5,738 | 100.0% | - |
| AMCOTRA Theux | €28,071 | -€5,267 | -81.9% | - |
| DOMUS PROJECTONTWIKKELING Beringen | €18,173 | -€1,994 | 98.7% | - |
| NOMAD Halle | €18,056 | -€7,692 | -129.3% | - |
These companies have the same main activity as R2: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €18,100 and €28,100, founded in 2021.
Official details
Source: KBO- Status
- Active since 25-03-2021Normal situation
- Activity
- Development of residential building projectsNACE 68121and 1 other
- Establishment unit
- 2.316.362.8695310 Eghezée, since 25-03-2021
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Insights on R2
R2 files the micro format. That format states no turnover. The gross margin fell from €4,143 in 2022 to -€3,275 in 2025.
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 R2
- What is the company number of R2?
- The company number of R2 is 0765.654.553. The VAT number is the same number with BE in front: BE 0765.654.553.
- Where is R2 based?
- The registered office is at Rue de la Marka 19, 5310 Eghezée.Company details
- What does R2 do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of R2?
- R2 is a private limited company (BV).
- When was R2 founded?
- R2 was founded on 25-03-2021.
- Is R2 still active?
- Yes, R2 is an active enterprise in the KBO register.
- What is the turnover of R2?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is R2 profitable?
- In financial year 2025, R2 made a loss of €3,616.
- Where can I find the annual accounts of R2?
- R2 filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of R2 due?
- R2 must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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