Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2013 to 2025 closed with a loss. 2023 was the heaviest.
Of this, €62,195 falls due within a year.
Latest accounts filed late: after the legal deadline.
2 restructurings since 2024. Latest: merger with DEMEREN.
Lower solvency than 95% of companies in real estate. Sector median 31.0% · 19,823 companies.
In July 2024, 6,920 companies had the same profile as ROBIN has now. Each dot stands for 18 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 6,920 companies, not a prediction for ROBIN. 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.
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.
| Company | ||||
|---|---|---|---|---|
| ROBIN Zaventem | €17,157 | -€3,244 | -3176.8% | - |
| RE-VIVE CADIX Ghent | €16,674 | -€1,909 | -1056.2% | - |
| VISTA TRADE INVEST Antwerp | €15,831 | -€2,880 | -320.9% | - |
| WONINGBOUW TRIUMPH Geraardsbergen | €15,518 | -€874 | 57.9% | - |
| GCA Bouwwerken Temse | €14,658 | -€5,604 | 36.5% | - |
| DIGIWAVE Genappe | €19,551 | -€8,099 | 43.8% | - |
| M & D Construct Ghent | €21,146 | -€7,124 | 96.8% | - |
These companies have the same main activity as ROBIN: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €14,700 and €21,100, founded between 2012 and 2013.
ROBIN files the micro format. That format states no turnover. The gross margin rose from -€4,271 in 2013 to -€3,244 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Lower than 95% of 16,990 companies in 2022.
Higher than 17% of 18,999 companies in 2025.
Lower than 95% of 19,465 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
17,157 | 19,529 | 28,890 | 44,701 | 585,306 | 585,114 | 586,125 | 547,812 | 522,735 | 101,204 | 681 | 1,428 | 8,108 | |
21/28 |
6,303 | 8,446 | 10,593 | - | 122 | 244 | 694 | 1,145 | - | - | - | - | 7,665 | |
21 |
5,803 | 7,946 | 10,089 | - | - | - | - | - | - | - | - | - | - | |
22/27 |
- | - | - | - | 122 | 244 | 694 | 1,145 | - | - | - | - | 7,665 | |
23 |
- | - | - | - | 122 | 244 | 366 | 488 | - | - | - | - | - | |
24 |
- | - | - | - | - | - | 328 | 657 | - | - | - | - | 7,665 | |
28 |
500 | 500 | 504 | - | - | - | - | - | - | - | - | - | - | |
29/58 |
10,854 | 11,083 | 18,296 | 44,701 | 585,184 | 584,870 | 585,431 | 546,668 | 522,735 | 101,204 | 681 | 1,428 | 442 | |
3 |
- | - | - | - | 584,821 | 584,821 | 584,571 | 539,431 | 507,031 | - | - | - | - | |
30/36 |
- | - | - | - | 584,821 | 584,821 | 584,571 | 539,431 | 507,031 | - | - | - | - | |
40/41 |
10,690 | 10,057 | 15,884 | 2,846 | 341 | 49 | 282 | 4,475 | 14,725 | 1,200 | 520 | 233 | 120 | |
40 |
662 | - | 2,544 | - | - | - | - | 379 | 244 | - | - | - | - | |
41 |
10,029 | 10,057 | 13,340 | 2,846 | 341 | 49 | 282 | 4,096 | 14,481 | 1,200 | 520 | 233 | 120 | |
54/58 |
164 | 1,026 | 2,412 | 41,855 | 23 | - | 578 | 2,761 | 979 | 100,004 | 161 | 1,195 | 323 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
17,157 | 19,529 | 28,890 | 44,701 | 585,306 | 585,114 | 586,125 | 547,812 | 522,735 | 101,204 | 681 | 1,428 | 8,108 | |
10/15 |
-545,038 | -539,651 | -527,229 | -299,323 | -84,420 | -74,833 | -58,204 | -37,526 | -20,581 | -16,108 | -12,425 | -10,674 | -3,815 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
14 |
-551,238 | -545,851 | -533,429 | -305,523 | -90,620 | -81,033 | -64,404 | -43,726 | -26,781 | -22,308 | -18,625 | -16,874 | -10,015 | |
17/49 |
562,195 | 559,180 | 556,119 | 344,024 | 669,727 | 659,946 | 644,329 | 585,338 | 543,316 | 117,311 | 13,106 | 12,102 | 11,923 | |
17 |
500,000 | 500,000 | 500,000 | - | - | - | - | - | - | - | - | - | - | |
178/9 |
500,000 | 500,000 | 500,000 | - | - | - | - | - | - | - | - | - | - | |
42/48 |
62,195 | 59,180 | 56,119 | 344,024 | 669,727 | 659,946 | 644,329 | 585,338 | 543,316 | 117,311 | 13,106 | 12,102 | 11,923 | |
43 |
- | - | 1 | - | 324,000 | 328,351 | 324,000 | 294,000 | 294,000 | - | - | - | - | |
430/8 |
- | - | 1 | - | - | 4,351 | - | - | - | - | - | - | - | |
439 |
- | - | - | - | 324,000 | 324,000 | 324,000 | 294,000 | 294,000 | - | - | - | - | |
44 |
22,777 | 22,015 | 23,837 | - | 1,658 | 282 | 782 | 57 | 1,679 | 4,036 | 1,005 | - | - | |
440/4 |
22,777 | 22,015 | 23,837 | - | 1,658 | 282 | 782 | 57 | 1,679 | 4,036 | 1,005 | - | - | |
47/48 |
39,418 | 37,165 | 32,281 | 344,024 | 344,069 | 331,314 | 319,547 | 291,281 | 247,636 | 113,276 | 12,102 | 12,102 | 11,923 | |
| Income statement | ||||||||||||||
76A |
- | 454 | 30,473 | 348 | - | - | - | - | - | - | - | - | - | |
9900 |
-3,244 | -9,444 | 23,687 | -3,242 | -1,897 | -3,129 | -4,704 | -5,711 | -4,094 | -3,335 | -1,387 | -1,725 | -4,271 | |
630 |
2,143 | 2,143 | 628 | 122 | 122 | 450 | 450 | 450 | - | - | - | - | 4,438 | |
640/8 |
- | 827 | 778 | 46 | 941 | 948 | 961 | 943 | 380 | 348 | 348 | 348 | 1,307 | |
66A |
- | 8 | 16,589 | 199,997 | - | - | - | - | - | - | - | 4,773 | - | |
9901 |
-5,387 | -12,423 | 5,693 | -203,408 | -2,960 | -4,528 | -6,116 | -7,104 | -4,473 | -3,682 | -1,734 | -2,072 | -10,015 | |
75/76B |
- | 1 | 1 | - | - | - | - | - | 1 | - | - | - | 1 | |
75 |
- | 1 | 1 | - | - | - | - | - | 1 | - | - | - | 1 | |
65/66B |
- | -0 | 233,599 | 11,495 | 6,628 | 12,101 | 14,562 | 9,841 | 0 | - | 17 | 14 | 0 | |
65 |
- | -0 | 696 | 11,495 | 6,628 | 12,101 | 14,562 | 9,841 | 0 | - | 17 | 14 | 0 | |
66B |
- | - | 232,903 | - | - | - | - | - | - | - | - | - | - | |
9903 |
-5,387 | -12,422 | -227,906 | -214,902 | -9,588 | -16,629 | -20,677 | -16,946 | -4,473 | -3,682 | -1,751 | -6,859 | -10,015 | |
67/77 |
- | - | - | - | - | - | - | - | - | - | - | - | 0 | |
9904 |
-5,387 | -12,422 | -227,906 | -214,902 | -9,588 | -16,629 | -20,677 | -16,946 | -4,473 | -3,682 | -1,751 | -6,859 | -10,015 | |
9905 |
-5,387 | -12,422 | -227,906 | -214,902 | -9,588 | -16,629 | -20,677 | -16,946 | -4,473 | -3,682 | -1,751 | -6,859 | -10,015 | |
| Appropriation of the result | ||||||||||||||
9906 |
-551,238 | -545,851 | -533,429 | -305,523 | -90,620 | -81,033 | -64,404 | -43,726 | -26,781 | -22,308 | -18,625 | -16,874 | -10,015 | |
14P |
-545,851 | -533,429 | -305,523 | -90,620 | -81,033 | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 12-10-2026.
2025 annual accounts filed 73 days after the deadline. Filed on 12 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00555966.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-10-2026 | 2026-00555966 | |
| 31-12-2024 | micro format | 31-10-2025 | 2025-00561502 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00434248 | |
| 31-12-2022 | abbreviated format | 27-06-2023 | 2023-00161887 | |
| 31-12-2021 | micro format | 24-08-2022 | 2022-20401282 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-48200209 | |
| 31-12-2019 | micro format | 30-07-2020 | 2020-37900251 | |
| 31-12-2018 | micro format | 12-08-2019 | 2019-45700298 | |
| 31-12-2017 | micro format | 23-08-2018 | 2018-49500428 | |
| 31-12-2016 | micro format | 24-08-2017 | 2017-48100037 | |
| 31-12-2015 | abbreviated format | 30-09-2016 | 2016-63800079 | |
| 31-12-2014 | abbreviated format | 31-08-2015 | 2015-56600399 | |
| 31-12-2013 | abbreviated format | 15-09-2014 | 2014-58500275 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -3,244 | -10,279 | 6,320 | -203,286 | -2,838 | -4,078 | -5,665 | -6,654 | - | - | - | - | -5,577 | ||
| -3,244 | -10,279 | -227,279 | -214,780 | -9,466 | -16,179 | -20,227 | -16,495 | - | - | - | - | -5,577 | ||
| 0 | -4 | 253,499 | 0 | 0 | 0 | 0 | 1,595 | - | - | - | - | 12,103 | ||
| -862 | -1,386 | -39,442 | 41,832 | - | - | -2,184 | 1,783 | -99,025 | 99,843 | -1,033 | 872 | - | ||
| -51,341 | -48,097 | -37,822 | -299,323 | -84,542 | -75,077 | -58,898 | -38,671 | -20,581 | -16,108 | -12,425 | -10,674 | -11,480 | ||
| - | - | - | -669.6% | -14.4% | -12.8% | -9.9% | -6.9% | -3.9% | -15.9% | - | - | -47.1% | ||
| 0.17 | 0.19 | 0.33 | 0.13 | 0.87 | 0.89 | 0.91 | 0.93 | 0.96 | 0.86 | - | - | 0.04 | ||
| 0.17 | 0.19 | 0.33 | 0.13 | 0.00 | 0.00 | 0.00 | 0.01 | 0.03 | 0.86 | - | - | 0.04 | ||
| -31.4% | -63.6% | -788.9% | -480.8% | -1.6% | -2.8% | -3.5% | -3.1% | -0.9% | -3.6% | - | - | -123.5% | ||
| - | over 100 | 9.08 | -17.68 | -0.43 | - | - | - | - | - | - | - | - |
A ratio outside any meaningful range has been withheld (balance sheet total €17,157, equity -€545,038).
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €8,531 | - | - |
| Intangible fixed assets | - | - | €12,061 | - | - |
| Financial fixed assets | - | - | €232,907 | - | - |
| €2,143 | €2,143 | €628 | €122 | €122 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €5,387, smaller than the loss of €12,423 in 2024.
Equity is negative. Debt (€562,195) exceeds the balance-sheet total (€17,157).
Source: list of holdings in its own 2023 accounts. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
| Hertoghe, Charles (sole trader)
establishment since 26-02-2014 |
founded in 2014 0547.684.368 |
Source for every holding own accounts 2023
The network starts from the directors of ROBIN. Every other company they run is a node.
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
| Establishment | Since | Unit number |
|---|---|---|
| Mechelsesteenweg 332 registered office 1933 Zaventem | 04-04-2012 | 2.214.801.295 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23082B0046/00Y005 | 1,492 m² | 1 · 281 m² | 8.2 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 0844.999.563
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