Losses
Every financial year from 2022 to 2025 closed with a loss. 2024 was the heaviest.
Every financial year from 2022 to 2025 closed with a loss. 2024 was the heaviest.
The abbreviated format states no turnover.
Of this, €3.6m falls due within a year.
The last four annual accounts were filed 94 to 122 days before the end of the period.
Board changed. Latest change 01-01-2026 · 4 in office.
Lower net result than 92% of companies in real estate. Sector median €9,976 · 11,288 companies.
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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, small). It does better than 35% of them on solvency, 11% on liquidity, 17% on profitability and 97% 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).
In July 2024, 748 companies had the same profile as Regreen has now. Each dot stands for 2 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Regreen itself: 0.4% within 12 months.
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 748 companies, not a prediction for Regreen. 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.
Liquidity is insufficient, with a current ratio of 0.12 (0.03 in 2024), below 1. Short-term debt is 69.2% and cash 0% of total assets. 84.7% of the assets are financed with debt and provisions.
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.
The company filed its last 4 accounts on average 110 days before 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.
| Company | ||||
|---|---|---|---|---|
| Regreen Ternat | €5.3m | €0.5m | 15.3% | - |
| MAASMECHELEN RETAIL INVEST Londerzeel | €4.7m | €0.5m | 8.1% | - |
| Enebra Pajottegem | €3.4m | €0.3m | 50.1% | - |
| B2Grow Ypres | €5.2m | €0.2m | 13.6% | - |
| VRK Vastgoed Turnhout | €6.5m | €1.1m | 11.4% | - |
| LANTERNEAU Brussels | €3.6m | €0.4m | 0.3% | 0 |
| BARKING Lommel | €4.0m | €0.5m | 8.9% | - |
These companies have the same main activity as Regreen: development of non-residential building projects (NACE 68122). They are comparable in size and age: total assets between €3.4m and €6.5m, founded between 2019 and 2022.
Regreen files the abbreviated format. That format states no turnover. The gross margin rose from -€111,413 in 2022 to €510,616 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €910,000. Estimated: probably between €680,000 and €1.5m.
Higher than 34% of 11,297 companies in 2025.
Higher than 12% of 10,849 companies in 2025.
Higher than 18% of 11,182 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
5.3m | 5.0m | 2.3m | 1.1m | |
21/28 |
4.8m | 4.9m | 2.2m | 1.1m | |
22/27 |
4.8m | 4.9m | 2.2m | 1.1m | |
23 |
4.7m | 4.3m | 510,646 | 380,005 | |
27 |
92,003 | 603,558 | 1.7m | 683,482 | |
29/58 |
436,734 | 134,292 | 44,602 | 78,572 | |
40/41 |
426,732 | 129,292 | 32,010 | 47,926 | |
40 |
426,732 | 129,292 | 29,914 | 30,605 | |
41 |
- | - | 2,095 | 17,321 | |
54/58 |
2,502 | - | 12,592 | 23,146 | |
490/1 |
7,500 | 5,000 | - | 7,500 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
5.3m | 5.0m | 2.3m | 1.1m | |
10/15 |
803,157 | -518,155 | -191,288 | -47,131 | |
10/11 |
1.6m | 125,000 | 125,000 | 125,000 | |
10 |
1.6m | 125,000 | 125,000 | 125,000 | |
100 |
1.6m | 125,000 | 125,000 | 125,000 | |
14 |
-821,843 | -643,155 | -316,288 | -172,131 | |
17/49 |
4.5m | 5.6m | 2.5m | 1.2m | |
17 |
625,000 | 625,000 | 625,000 | 625,000 | |
170/4 |
625,000 | 625,000 | 625,000 | 625,000 | |
42/48 |
3.6m | 4.9m | 1.8m | 545,317 | |
44 |
105,504 | 265,069 | 71,957 | 124,518 | |
440/4 |
105,504 | 265,069 | 71,957 | 124,518 | |
45 |
23,835 | 7,621 | - | - | |
450/3 |
23,835 | 7,621 | - | - | |
47/48 |
3.5m | 4.6m | 1.7m | 420,799 | |
492/3 |
193,001 | 69,576 | 27,905 | 18,872 | |
| Income statement | |||||
9900 |
510,616 | 72,686 | -95,776 | -111,413 | |
630 |
243,542 | 107,270 | 23,169 | 25,415 | |
631/4 |
2,654 | - | - | - | |
640/8 |
183,132 | 154,992 | 957 | 728 | |
66A |
6,161 | - | - | - | |
9901 |
75,127 | -189,576 | -119,901 | -137,556 | |
75/76B |
5 | - | - | 2,221 | |
75 |
5 | - | - | 2,221 | |
65/66B |
253,821 | 137,290 | 24,256 | 36,796 | |
65 |
253,821 | 137,290 | 24,256 | 36,796 | |
9903 |
-178,689 | -326,866 | -144,158 | -172,131 | |
9904 |
-178,689 | -326,866 | -144,158 | -172,131 | |
9905 |
-178,689 | -326,866 | -144,158 | -172,131 | |
| Appropriation of the result | |||||
9906 |
-821,843 | -643,155 | -316,288 | -172,131 | |
14P |
-643,155 | -316,288 | -172,131 | - | |
| Document | |||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 31-03-2026.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 318,669 | -82,306 | -96,733 | -112,141 | ||
| 64,853 | -219,596 | -120,989 | -146,716 | ||
| 204,342 | 2.8m | 1.2m | 1.1m | ||
| - | - | -10,553 | - | ||
| -3.2m | -4.7m | -1.8m | -466,745 | ||
| 15.3% | -10.3% | -8.4% | -4.1% | ||
| 0.12 | 0.03 | 0.02 | 0.14 | ||
| 5.56 | - | - | - | ||
| -22.2% | - | - | - | ||
| -3.4% | -6.5% | -6.3% | -15.1% | ||
| 1.26 | -0.60 | -3.99 | -3.05 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €204,342 | €2.8m | €1.2m | €1.1m |
| €243,542 | €107,270 | €23,169 | €25,415 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €75,127, after a loss of €189,576 in 2024. It is the highest result since 2022.
Debt's share of the balance-sheet total is 84.7%.
Source: parent in its own accounts
| Veilinghof ’t Sas
registered office since 05-08-2021 · founded in 2021 |
total assets €7.5m (2025) 0772.324.787 |
| FINSBURY PROPERTIES
registered office since 23-12-2005 · founded in 2005 |
total assets €3.0m (2025) 0878.249.777 |
| WICKES LAND DEVELOPMENT
establishment since 06-07-1993 · founded in 1988 |
total assets €2.5m (2025) 0433.783.109 |
| INDUCOM
registered office since 18-03-1985 · founded in 1985 |
total assets €342,885 (2022) 0426.940.649 |
| RE Group
registered office since 01-04-2010 |
founded in 2010 0823.934.133 |
| VERENIGING VAN HANDELAARS FRUN PARK GENTPOORT
registered office since 01-04-2008 |
founded in 2008 0896.869.027 |
| RETAIL ESTATES
registered office since 01-04-1984 |
founded in 1988 0434.797.847 |
| CUSHMAN & WAKEFIELD BELGIUM via KOEN NEVENS, at Regreen until 2025 · Director · deed of 17-11-2016 founded in 1981 |
41 FTE (2025) |
| SVK via KOEN NEVENS, at Regreen until 2025 · Director · deed of 08-07-2024 No longer active |
total assets €3.0m (2025) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 23 April 2021, Regreen was incorporated as a public limited company by RETAIL ESTATES, with a starting capital of €125,000.12 A capital increase in 2025 brought the capital to €1.6m.3 Of the 4 current board members, 3 have served since 2021.4 Total assets went from €1.1m in 2022 to €5.3m in 2025.5
| Establishment | Since | Unit number |
|---|---|---|
| Industrielaan 6 registered office 1740 Ternat 46180 Agents specialised in the wholesale of other particular products | 23-04-2021 | 2.319.010.177 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23086B0338/00X000 | 1,777 m² | 1 · 595 m² | 6.6 m · 1 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0767.459.347
If something looks wrong or is missing, please tell us.