REAL
ActiveREAL has been active since 1973 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.93M and a net result of €257k. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 640 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability58▼-6
Solvency60=
Growth67▼-1
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity tight (current ratio 1.43 against 1.41 in 2024; short-term debt: 65.1% and cash: 2.7% of total assets), and 65.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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
34.9%
Return on assets
4.6%
Age of the figures
9 mo
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
29 d late
2023
30 d early
2022
31 d late
2021
69 d early
2020
67 d early
2019
73 d early
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€33.63M▼ 2.8%
2024 · €34.61M
2018: €26.38M
2019: €28.37M
2020: €25.07M
2021: €27.12M
2022: €31.49M
2023: €34.33M
2024: €34.61M
2018 → 2025
EBIT margin
1.0%▼ 1.1pp
2024 · 2.1%
2018: 1.3%
2019: 2.0%
2020: 1.3%
2021: 2.4%
2022: 2.2%
2023: 2.2%
2024: 2.1%
2018 → 2025
Net result
€257k▼ 53.3%
2024 · €551k
2018: €239k
2019: €484k
2020: €283k
2021: €468k
2022: €513k
2023: €550k
2024: €551k
2018 → 2025
Working capital
€1.56M▲ 0.7%
2024 · €1.55M
2018: €408k
2019: €569k
2020: €627k
2021: €922k
2022: €890k
2023: €1.41M
2024: €1.55M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€27.12M-€31.49M▲ 16.1%€34.33M▲ 9.0%€34.61M▲ 0.8%€33.63M▼ 2.8%
Equity€1.13M-€1.44M▲ 27.7%€2.00M▲ 38.7%€2.05M▲ 2.5%€1.93M▼ 5.8%
Operating result€638k-€702k▲ 10.0%€756k▲ 7.7%€738k▼ 2.4%€342k▼ 53.7%
Net result€468k-€513k▲ 9.7%€550k▲ 7.2%€551k▲ 0.1%€257k▼ 53.3%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 54% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.54M
Fixed assets
€375k▼ 28.2%
Current assets
€5.17M▼ 2.3%
Equity and liabilities €5.54M
Equity
€1.93M▼ 5.8%
Debt
€3.61M▼ 4.0%
The debt ratio rises from 64.7% to 65.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€473k▼
2024 · €892k
Cash flow
€389k▼
2024 · €705k
Solvency
34.9%▼
2024 · 35.3%
Current ratio
1.43▲
2024 · 1.41
Quick ratio
1.08▲
2024 · 1.06
Debt / equity
1.87▲
2024 · 1.83
ROE
13.3%▼
2024 · 26.8%
ROA
4.6%▼
2024 · 9.5%
Interest coverage
1056.15▲
2024 · 917.91
Debt
€3.61M▼
2024 · €3.76M
Debt ≤ 1 year
€3.61M▼
2024 · €3.74M
Debt > 1 year
€0▼
2024 · €17k
Income taxes
€93k▼
2024 · €189k
Staff costs
€1.90M▲
2024 · €1.82M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.81M€5.54M▼
Fixed assets21/28€523k€375k▼
Tangible fixed assets22/27€523k€375k▼
Plant, machinery and equipment23€141k€95k▼
Furniture and vehicles24€81k€31k▼
Other tangible fixed assets26€300k€250k▼
Current assets29/58€5.29M€5.17M▼
Stocks and contracts in progress3€1.31M€1.27M▼
Stocks30/36€1.31M€1.27M▼
Goods purchased for resale34€1.31M€1.27M▼
Amounts receivable within one year40/41€3.57M€3.73M▲
Trade receivables40€3.28M€3.32M▲
Other amounts receivable41€286k€410k▲
Cash at bank and in hand54/58€396k€151k▼
Deferred charges and accrued income490/1€15k€14k▼
Equity and liabilities
Total equity and liabilities10/49€5.81M€5.54M▼
Equity10/15€2.05M€1.93M▼
Contributions10/11€164k€164k=
Capital10€164k€164k=
Issued capital100€164k€164k=
Reserves13€236k€236k=
Non-distributable reserves130/1€16k€16k=
Legal reserve130€16k€16k=
Tax-exempt reserves132€55k€55k=
Distributable reserves133€164k€164k=
Profit (loss) carried forward14€1.64M€1.53M▼
Investment grants15€7k€6k▼
Amounts payable17/49€3.76M€3.61M▼
Amounts payable after more than one year17€17k€0▼
Financial debts170/4€17k€0▼
Credit institutions173€17k€0▼
Amounts payable within one year42/48€3.74M€3.61M▼
Current portion of amounts payable after more than one year42€51k€17k▼
Trade debts44€2.70M€2.75M▲
Suppliers440/4€2.70M€2.75M▲
Taxes, remuneration and social security45€431k€407k▼
Taxes450/3€150k€116k▼
Remuneration and social security454/9€282k€291k▲
Other amounts payable47/48€558k€433k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Operating income70/76A€34.74M€33.78M▼
Turnover70€34.61M€33.63M▼
Other operating income74€128k€134k▲
Non-recurring operating income76A€3k€9k▲
Operating charges60/66A€34.01M€33.43M▼
Goods for resale, raw materials and consumables60€30.02M€29.41M▼
Purchases600/8€29.90M€29.37M▼
Change in stocks: decrease (increase)609€111k€39k▼
Services and other goods61€1.98M€1.96M▼
Remuneration, social security and pensions62€1.82M€1.90M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€154k€132k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-13k€-11k▲
Other operating charges640/8€49k€31k▼
Non-recurring operating charges66A€40€15k▲
Operating profit (loss)9901€738k€342k▼
Financial income75/76B€72k€83k▲
Recurring financial income75€72k€83k▲
Income from financial fixed assets750€5k€14k▲
Other financial income752/9€67k€69k▲
Financial charges65/66B€70k€74k▲
Recurring financial charges65€70k€74k▲
Debt charges650€972€448▼
Other financial charges652/9€69k€74k▲
Profit (loss) for the period before taxes9903€740k€351k▼
Income taxes67/77€189k€93k▼
Taxes670/3€189k€93k▼
Profit (loss) for the period9904€551k€257k▼
Profit (loss) for the period to be appropriated9905€551k€257k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.14M€1.90M▼
Profit (loss) brought forward from the previous period14P€1.59M€1.64M▲
Profit to be distributed694/7€500k€375k▼
Return on contributions (dividend)694€500k€375k▼
Social balance
Average headcount (FTE)908732.033.2▲
The notes to these accounts (56 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Highest result since 2018net €551k ▲0.1%
Net result €551k, the highest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €2MEq €2.00M ▲38.7%
6 profitable years in a row build equity to €2.00M.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
23-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €1MEq €1.13M ▲17.4%
4 profitable years in a row build equity to €1.13M.
25-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
14-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
18 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, Herve · 1 establishment unit since 1973
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de Herve 1104651 HerveGround area
8,229 m²
Building footprint
2,743 m²
Volume, LiDAR
16,679 m³
Parcel 63006D0316/00F002, Wallonia · tallest building 14.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de Herve 110, 4651 Herve
since 19732.159.363.817
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63006D0316/00F002 | Wallonia | 8,229 m² | 1 · 2,743 m² | 14.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
Food safety, FASFC
1 siteHerve2.159.363.817
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Of 273 companies in sector 10510 we hold annual accounts for 121. 61 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1973
Fiscal year end31-12
Activities, NACEBEL
10510Manufacture of food products
46331Wholesale trade
51331
52100Warehousing and storage
63121
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:real@real.be
Phone:087 67 51 11
Fax:087 67 97 87