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REVEL

Active
Public limited companyfounded 20251 yr activeRue de l'Ile-Monsin 109, 4020 Liège, BelgiumKBO/BCE: BE 1021.706.740
Summary

REVEL has been active since 2025 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€386,033) and a net result of -€447,533. Its solvency ranks better than 12% of 4613 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).

Checked score

Score 2025
44 / 100
Weak
Negative equity caps the score. Every signal that weighs is under Signals.
Axes
Profitability32
Solvency23
Growth-
Track record67
Bankruptcy probability, 12 months
0.5% Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.98; short-term debt: 102% and cash: 18.7% of total assets), and equity is negative.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 →
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 1 year 0 10 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
-2%
Return on assets
-2.4%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
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 08-07-2026, 23 days ahead of the deadline.
NBB · 1 filing
Deviation from the deadline
2025
23 d early
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 31 March 2025, REVEL was incorporated as a Public limited company.1 Of the 2 current board members, Jan De Nul has served longest, since 2026.2 The company has filed annual accounts once, for fiscal year 2025.3

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 23-07-2026
  3. 3National Bank, annual accounts 2025

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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
-€447,533
Working capital
-€386,033
Key figures and ratios
2025 value
Solvency
-2.0%
Current ratio
0.98
Quick ratio
0.77
Debt to equity
-49.81
ROA
-2.4%
Debt
€19.2m
Debt ≤ 1 year
€19.2m

Peer companies

Historical observation

Of the 472 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.

  • Medium-sized
  • negative equity
  • a small loss
  • without age
1.5% went bankrupt
2.8% stopped otherwise
95% still going

A further 0.4% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.5% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 472 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
Filed annual accounts As filed with the NBB · 2025 · 31 lines
Balance sheet Code2025
Assets
Total assets20/58€18.8m
Current assets29/58€18.8m
Amounts receivable after more than one year29€8.5m
Trade receivables290€8.5m
Stocks and contracts in progress3€3.9m
Stocks30/36€146,072
Contracts in progress37€3.8m
Amounts receivable within one year40/41€2.9m
Trade receivables40€2.8m
Other amounts receivable41€79,744
Cash at bank and in hand54/58€3.5m
Equity and liabilities
Total equity and liabilities10/49€18.8m
Equity10/15-€386,033
Contributions10/11€61,500
Capital10€61,500
Issued capital100€61,500
Profit (loss) carried forward14-€447,533
Amounts payable17/49€19.2m
Amounts payable within one year42/48€19.2m
Trade debts44€2.6m
Suppliers440/4€2.6m
Advances received on contracts in progress46€16.6m
Income statement Code2025
Other operating charges640/8€248,121
Gross operating margin9900-€190,615
Operating profit (loss)9901-€438,736
Financial charges65/66B€8,797
Recurring financial charges65€8,797
Profit (loss) for the period before taxes9903-€447,533
Profit (loss) for the period9904-€447,533
Profit (loss) for the period to be appropriated9905-€447,533
Appropriation of the result
Profit (loss) to be appropriated9906-€447,533
Line2025
Other operating charges640/8€248,121
Gross operating margin9900-€190,615
Operating profit (loss)9901-€438,736
Financial charges65/66B€8,797
Recurring financial charges65€8,797
Profit (loss) for the period before taxes9903-€447,533
Profit (loss) for the period9904-€447,533
Profit (loss) for the period to be appropriated9905-€447,533
Line2025
Assets
Total assets20/58€18.8m
Current assets29/58€18.8m
Amounts receivable after more than one year29€8.5m
Trade receivables290€8.5m
Stocks and contracts in progress3€3.9m
Stocks30/36€146,072
Contracts in progress37€3.8m
Amounts receivable within one year40/41€2.9m
Trade receivables40€2.8m
Other amounts receivable41€79,744
Cash at bank and in hand54/58€3.5m
Equity and liabilities
Total equity and liabilities10/49€18.8m
Equity10/15-€386,033
Contributions10/11€61,500
Capital10€61,500
Issued capital100€61,500
Profit (loss) carried forward14-€447,533
Amounts payable17/49€19.2m
Amounts payable within one year42/48€19.2m
Trade debts44€2.6m
Suppliers440/4€2.6m
Advances received on contracts in progress46€16.6m
Line2025
Profit (loss) for the period9904-€447,533
Operating cash flow (approximation)-€447,533

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2026
23-07
State Gazette act Resignation: iMinds (director)
Appointments: iMinds, JAN DE NUL and JDN · Permanent representatives: Stijn Hanssens, J.P.J.De Nul and Julie De Nul9 facts ▸
  • General meeting, 25-06-2026
  • Director resignation, iMinds (director)
  • Director appointment, iMinds (director)
  • Permanent representative, Stijn Hanssens (permanent representative)
  • Board meeting, 25-06-2026
  • Director appointment, JAN DE NUL (managing director)
  • Permanent representative, J.P.J.De Nul (permanent representative)
  • Director appointment, JDN (managing director)
  • Permanent representative, Julie De Nul (permanent representative)
08-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
State Gazette actNBB filing
1 of 3 acts read
About the unread acts

Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
2 office holders, last change in 2026

Day-to-day management 2

Jan De Nul
Managing director · since 25-06-2026 · Public limited company · perm. rep.: J.P.J.De Nul
Current
JDN
Managing director · since 25-06-2026 · Private limited company · perm. rep.: Julie De Nul
Current

Permanent representatives 2

J.P.J.De Nul
Permanent representative · since 25-06-2026 · for Jan De Nul
Current
Julie De Nul
Permanent representative · since 25-06-2026 · for JDN
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2025
seat establishment The establishment unit on the map
Ground area
3.1 ha
Building footprint
8,695 m²
Volume, LiDAR
111,604 m³
Parcel 62809A0347/00R003, Wallonia · tallest building 14.5 m, ±4 floors. Linked by address, not a title deed.
3 companies at this address See who is registered here
1 establishment unit
REVEL
Rue de l'Ile-Monsin 109, 4020 LiègeDevelopment of residential building projects
since 20252.378.364.972
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62809A0347/00R003 Wallonia 3.1 ha 1 · 8,695 m² 14.4 m · 4 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.

Mandate history

3 people since 2026, 2 in office
Show
  • Board
  • Day-to-day management
Mandates per person, with start and end dates
Name Functions and periods
Jan De Nul
  • Managing director, from 25-06-2026 to date
JDN
  • Managing director, from 25-06-2026 to date
iMinds
  • Director, from 25-06-2026 to 23-07-2026
See the board, name and seat on a given date →

Structure & network

Connections & network

7 connected companies
Linked via shared directors
De Lediaan
Shared corporate director
→
Denderoever
Shared corporate director
→
Embuild Oost-Vlaanderen
Shared corporate director
→
FLANDERS DREDGING CORPORATION
Shared corporate director
→
Show 3 more companies with a shared director
Jan De Nul Dredging
Shared corporate director
→
Socaré
Shared corporate director
→
Socaré Offices
Shared corporate director
→

Similar companies · same sector and region

This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded31-03-2025
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID 0208:1021706740
Registered 22-12-2025

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.