Ret Square
ActiveSummary
Ret Square has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.6m and a net result of €23,906. Equity is growing by ~25.2% per year across the filed fiscal years. Its solvency ranks better than 83% of 4613 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+34
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €290,000 at 30 days acceptable
Liquidity tight (current ratio 1.03 against 2.94 in 2024; short-term debt: 10.5% and cash: 4.4% of total assets), and 15.4% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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
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
84.6%
Return on assets
0.6%
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
26 d early
2022
on the day
2021
2 d early
2020
1 d early
2019
on the day
← 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 4 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. Usually files around 30 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€23,906▲ 230%
2024 · €7,250
Working capital
€14,802▼ 92.6%
2024 · €199,208
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€56,086▲ 244%€75,066▲ 33.8%€124,451▲ 65.8%€214,870▲ 72.7%€52,787▼ 75.4%
Net result€16,591within the sector's middle half€32,667within the sector's middle half▲ 96.9%€72,487within the sector's middle half▲ 122%€7,250within the sector's middle half▼ 90.0%€23,906within the sector's middle half▲ 230%
Equity€165,754within the sector's middle half▲ 11.1%€198,422within the sector's middle half▲ 19.7%€270,908within the sector's middle half▲ 36.5%€3.8mabove the sector's middle half▲ 1,309%€3.6mwithin the sector's middle half▼ 6.2%
Total assets€683,213within the sector's middle half▼ 11.7%€658,446below the sector's middle half▼ 3.6%€682,187within the sector's middle half▲ 3.6%€4.2mwithin the sector's middle half▲ 515%€4.2mwithin the sector's middle half▲ 0.9%
Debt€330,651▼ 22.3%€284,071▼ 14.1%€245,997▼ 13.4%€378,007▲ 53.7%€653,358▲ 72.8%
Working capital-€122,741within the sector's middle half▲ 18.8%-€81,067within the sector's middle half▲ 34.0%-€14,004within the sector's middle half▲ 82.7%€199,208within the sector's middle half€14,802within the sector's middle half▼ 92.6%
Solvency24.3%within the sector's middle half▲ 5.0pp30.1%within the sector's middle half▲ 5.9pp39.7%within the sector's middle half▲ 9.6pp91.0%above the sector's middle half▲ 51.3pp84.6%above the sector's middle half▼ 6.4pp
Current ratio0.31below the sector's middle half▲ 0.070.57within the sector's middle half▲ 0.250.93within the sector's middle half▲ 0.372.94above the sector's middle half▲ 2.011.03within the sector's middle half▼ 1.91
Return on assets (ROA)2.4%within the sector's middle half▲ 5.2pp5.0%within the sector's middle half▲ 2.5pp10.6%above the sector's middle half▲ 5.7pp0.2%within the sector's middle half▼ 10.5pp0.6%within the sector's middle half▲ 0.4pp
Staff (FTE)0below the sector's middle half0within the sector's middle half0within the sector's middle half0within the sector's middle half
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.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 75% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.2m
Fixed assets
€3.8m ▼ 3.1%
Current assets
€460,477 ▲ 52.6%
Equity and liabilities €4.2m
Equity
€3.6m ▼ 6.2%
Debt
€653,358 ▲ 72.8%
Debt's share of the balance-sheet total rises from 9.0% to 15.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€171,864▼
2024 · €354,652
Cash flow
€142,984▼
2024 · €147,032
Debt to equity
0.18▲
2024 · 0.10
ROE
0.7%▲
2024 · 0.2%
Interest coverage
13.68▲
2024 · 1.91
Debt ≤ 1 year
€445,675▲
2024 · €102,538
Debt > 1 year
€206,234▼
2024 · €274,019
Income taxes
€31,071▲
2024 · €24,010
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 14,732 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 | €11,943 | €10,854 | €10,672 | €165,281 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €99,532 | €99,087 | €75,580 | €139,783 | €119,078 | ▼ 14.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €30,186 | - |
| Other operating charges640/8 | €17,467 | €15,980 | €21,358 | €21,155 | €23,424 | ▲ 10.7% |
| Gross operating margin9900 | €173,086 | €190,132 | €221,390 | €375,807 | €225,474 | ▼ 40.0% |
| Operating profit (loss)9901 | €56,086 | €75,066 | €124,451 | €214,870 | €52,787 | ▼ 75.4% |
| Financial income75/76B | €7 | €1 | €5 | €2,416 | €14,756 | ▲ 511% |
| Recurring financial income75 | €7 | €1 | €5 | €2,416 | €14,756 | ▲ 511% |
| Financial charges65/66B | €36,502 | €32,841 | €32,450 | €186,027 | €12,565 | ▼ 93.2% |
| Recurring financial charges65 | €36,502 | €32,841 | €32,450 | €186,027 | €12,565 | ▼ 93.2% |
| Profit (loss) for the period before taxes9903 | €19,591 | €42,225 | €92,007 | €31,259 | €54,977 | ▲ 75.9% |
| Income taxes67/77 | €3,000 | €9,558 | €19,520 | €24,010 | €31,071 | ▲ 29.4% |
| Profit (loss) for the period9904 | €16,591 | €32,667 | €72,487 | €7,250 | €23,906 | ▲ 230% |
| Profit (loss) for the period to be appropriated9905 | €16,591 | €32,667 | €72,487 | €7,250 | €23,906 | ▲ 230% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €683,213 | €658,446 | €682,187 | €4.2m | €4.2m | ▲ 0.9% |
| Fixed assets21/28 | €626,857 | €553,062 | €494,201 | €3.9m | €3.8m | ▼ 3.1% |
| Tangible fixed assets22/27 | €624,569 | €550,774 | €491,913 | €3.9m | €3.8m | ▼ 3.1% |
| Land and buildings22 | €617,764 | €546,033 | €479,867 | €3.9m | €3.8m | ▼ 3.0% |
| Plant, machinery and equipment23 | €0 | - | €2,050 | €1,826 | €1,603 | ▼ 12.3% |
| Furniture and vehicles24 | €6,806 | €4,742 | €9,996 | €8,715 | €7,434 | ▼ 14.7% |
| Financial fixed assets28 | €2,288 | €2,288 | €2,288 | €2,288 | €2,288 | = |
| Current assets29/58 | €56,356 | €105,384 | €187,986 | €301,746 | €460,477 | ▲ 52.6% |
| Amounts receivable within one year40/41 | €33,930 | €36,805 | €35,041 | €234,190 | €246,936 | ▲ 5.4% |
| Trade receivables40 | €28,535 | €31,913 | €33,541 | €27,190 | €30,868 | ▲ 13.5% |
| Other amounts receivable41 | €5,395 | €4,892 | €1,500 | €207,000 | €216,068 | ▲ 4.4% |
| Cash at bank and in hand54/58 | €15,248 | €56,484 | €136,100 | €40,227 | €188,135 | ▲ 368% |
| Deferred charges and accrued income490/1 | €7,178 | €12,095 | €16,845 | €27,329 | €25,406 | ▼ 7.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €683,213 | €658,446 | €682,187 | €4.2m | €4.2m | ▲ 0.9% |
| Equity10/15 | €165,754 | €198,422 | €270,908 | €3.8m | €3.6m | ▼ 6.2% |
| Contributions10/11 | €92,176 | €92,176 | €92,176 | €92,176 | €92,176 | = |
| Capital10 | €92,176 | €92,176 | €92,176 | €92,176 | €92,176 | = |
| Issued capital100 | €92,176 | €92,176 | €92,176 | €92,176 | €92,176 | = |
| Revaluation surpluses12 | - | - | - | €3.5m | €3.4m | ▼ 1.9% |
| Reserves13 | €73,578 | €106,246 | €178,732 | €251,007 | €80,332 | ▼ 68.0% |
| Non-distributable reserves130/1 | €9,217 | €9,218 | €9,218 | €9,218 | €9,218 | = |
| Legal reserve130 | €9,217 | €9,218 | €9,218 | €9,218 | €9,218 | = |
| Distributable reserves133 | €64,362 | €97,028 | €169,515 | €241,789 | €71,115 | ▼ 70.6% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | €186,808 | €175,954 | €165,281 | €0 | - | - |
| Provisions for liabilities and charges160/5 | €186,808 | €175,954 | €165,281 | €0 | - | - |
| Other liabilities and charges164/5 | €186,808 | €175,954 | €165,281 | €0 | - | - |
| Amounts payable17/49 | €330,651 | €284,071 | €245,997 | €378,007 | €653,358 | ▲ 72.8% |
| Amounts payable after more than one year17 | €142,877 | €89,724 | €36,123 | €274,019 | €206,234 | ▼ 24.7% |
| Financial debts170/4 | €142,877 | €89,724 | €36,123 | €274,019 | €206,234 | ▼ 24.7% |
| Amounts payable within one year42/48 | €179,097 | €186,450 | €201,990 | €102,538 | €445,675 | ▲ 335% |
| Current portion of amounts payable after more than one year42 | €54,189 | €54,646 | €55,107 | €65,326 | €67,785 | ▲ 3.8% |
| Trade debts44 | €19,718 | €16,716 | €28,367 | €29,809 | €90,553 | ▲ 204% |
| Suppliers440/4 | €19,718 | €16,716 | €28,367 | €29,809 | €90,553 | ▲ 204% |
| Taxes, remuneration and social security45 | €801 | €6,742 | €6,731 | €1,704 | €22,031 | ▲ 1,193% |
| Taxes450/3 | €801 | €6,742 | €6,731 | €1,704 | €22,031 | ▲ 1,193% |
| Other amounts payable47/48 | €104,389 | €108,346 | €111,786 | €5,700 | €265,305 | ▲ 4,554% |
| Accrued charges and deferred income492/3 | €8,677 | €7,896 | €7,884 | €1,449 | €1,449 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,591 | €32,667 | €72,487 | €7,250 | €23,906 | ▲ 230% |
| + Depreciation and write-downs630 | €99,532 | €99,087 | €75,580 | €139,783 | €119,078 | ▼ 14.8% |
| Operating cash flow (approximation) | €116,124 | €131,754 | €148,067 | €147,032 | €142,984 | ▼ 2.8% |
| Investment in fixed assets (approximation) | - | -€25,292 | -€16,719 | -€3.5m | €0 | ▲ 100% |
| Change in cash | - | €41,235 | €79,616 | -€95,873 | €147,907 | ▲ 254% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
16-06
State Gazette act
Registered office · MiscellaneousRegistered-office move2 facts ▸
State Gazette act
Registered office · Miscellaneous
Registered-office move2 facts ▸
- Board meeting, 14-04-2026
- Registered-office move, Moutstraat 124,9000 Gent
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity triplescurrent ratio 2.94
Current ratio from 0.93 to 2.94; short-term debt falls from €201,990 to €102,538.
31-12
Financial
Equity above €2mEq €3.8m ▲1,309%
4 profitable years in a row build equity to €3.8m.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €72,487 ▲122%
Net result €72,487, the highest in the series.
31-12
Financial
Equity above €200,000Eq €270,908 ▲36.5%
3 profitable years in a row build equity to €270,908.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €16,591
Net result €16,591 after one loss-making year.
31-12
Financial
Equity above €150,000Eq €165,754 ▲11.1%
Equity rises from €149,163 to €165,754.
Show earlier events
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet -€21,388
Net result drops to -€21,388, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 21 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 11 acts read
About the unread acts
Of the 11 Belgian State Gazette acts we know for this company, 1 has been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2007
Ground area
2.0 ha
Building footprint
1,138 m²
Volume, LiDAR
32,778 m³
Parcel 44808H0324/00F000, Flanders · tallest building 32.6 m, ±10 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
Moutstraat 124, 9000 Gent
since 20072.185.592.518
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0324/00F000 | Flanders | 2.0 ha | 1 · 1,138 m² | 32.6 m · 10 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.
Structure & network
Owners and holdings
1 ownerChain of control
- AETERRA
- Ret Square
Highest known parent: AETERRA. The sources do not say who stands above it.
Owners 1
- AETERRAparentSourceaccounts AETERRA 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 2,041 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
Founded02-07-1985
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0427584116
Also
9925:BE0427584116
Registered
21-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.