Royal Botanic Construct
ActiveSummary
Royal Botanic Construct has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€58,744) and a net result of -€26,166. Its solvency ranks better than 15% of 11,259 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 04-10-2023 Normal situation
- Registered office
- 45 active companies are registered at this address 2 started in the 12 months before. Source: KBO register, as of 2 November 2026.
- Activity
- Development of residential building projects NACE 68121and 1 other
- Establishment unit
- 2.350.882.991 2600 Antwerpen, since 04-10-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 05-01-2026
Board and ownership
Board
- Real Estate Development TrustDirector · permanent representative GIELEN Jo Raoul Laurent
- VDD PROJECT DEVELOPMENTDirector · permanent representative VANDENDRIESSCHE Johan Didier Maurice
Shareholders
- Real Estate Development Trust50%· score 862025 annual accounts of Real Estate Development Trust
- VDD PROJECT DEVELOPMENT50%· score 832025 annual accounts of VDD PROJECT DEVELOPMENT
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
Annual accounts 2025
- Gross margin
- -€25,205
- ▲ 22.1%
- Loss
- €26,166
- ▼ 22.1%
- Equity
- -€58,744
- ▼ 80.3%
- Total assets
- €2.5m
- ▲ 81.0%
- Negative equity on 31-12-2025
Turnover not published (abbreviated format)
Score breakdownraises riskCapped at 59: negative equityNegative equity -€58,7441 change of registered office in 24 monthslowers riskSize: total assets €2.5mSector: Real estate activities (NACE 68)Show the evidence
Checked score
Score 2025
53
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 21% of small companies in real estate (NACE 68)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency
23=
equity -2.3% of total assets
Liquidity
44+12
short-term debt 66.8% · cash 23.3%
Profitability
35+3
return on assets -1.0%
Bankruptcy probability within 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.8%▲ +0.1 percentage points vs 01-2025
03-2025: 0.9%▲ +0.1 percentage points vs 02-2025
04-2025: 0.9%● unchanged vs 03-2025
05-2025: 1.0%▲ +0.1 percentage points vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 0.8%▼ -0.2 percentage points vs 06-2025
08-2025: 0.8%● unchanged vs 07-2025
09-2025: 0.9%▲ +0.1 percentage points vs 08-2025
10-2025: 0.9%● unchanged vs 09-2025
11-2025: 0.8%▼ -0.1 percentage points vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 1.7%▲ +0.9 percentage points vs 03-2026
05-2026: 1.7%● unchanged vs 04-2026
06-2026: 1.8%▲ +0.1 percentage points vs 05-2026highest value
07-2026: 0.3%▼ -1.5 percentage points vs 06-2026lowest value
08-2026: 0.3%● unchanged vs 07-2026lowest value
09-2026: 0.3%● unchanged vs 08-2026lowest value
10-2026: 0.3%● unchanged vs 09-2026lowest value
11-2026: 0.3%● unchanged vs 10-2026lowest value
No credit on open account
Liquidity is tight, with a current ratio of 1.5 (2.57 in 2024), below the usual 1.5. Short-term debt is 66.8% and cash 23.3% of total assets. Equity is negative.
Calculation
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 12% of them on solvency, 39% on liquidity, 29% on profitability and 6% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2425
2024 to 2025 · latest year -€58,744
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 04-06-2026, 57 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
57 days early
2024
57 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 57 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.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 04-06-2026 at the NBB all 2 filings
Equity
-€58,744▼ 80.3%
2024 · -€32,579
Total assets
€2.5m▲ 81.0%
2024 · €1.4m
Net result
-€26,166▲ 22.1%
2024 · -€33,579
Working capital
€844,952▼ 1.7%
2024 · €859,919
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
-€25,725
▲ 22.6%
2025
20242025
Net result
-€26,166
▲ 22.1%
2025
lowest quarter of the sector
20242025
Equity
-€58,744
▼ 80.3%
2025
lowest quarter of the sector
20242025
Total assets
€2.5m
▲ 81.0%
2025
middle half of the sector
20242025
Debt
€2.6m
▲ 81.0%
2025
20242025
Working capital
€844,952
▼ 1.7%
2025
highest quarter of the sector
20242025
Solvency
-2.3%
=
2025
lowest quarter of the sector
20242025
Current ratio
1.50
▼ 1.08
2025
middle half of the sector
20242025
Return on assets (ROA)
-1.0%
▲ 1.4pp
2025
middle half of the sector
20242025
Staff (FTE)
0
2025
middle half of the sector
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€0.03m--€0.03m▲ 22.6%
Net result-€0.03mbelow the sector's middle half--€0.03mbelow the sector's middle half▲ 22.1%
Equity-€0.03mbelow the sector's middle half--€0.06mbelow the sector's middle half▼ 80.3%
Total assets€1.4mwithin the sector's middle half-€2.5mwithin the sector's middle half▲ 81.0%
Debt€1.4m-€2.6m▲ 81.0%
Working capital€0.9mabove the sector's middle half-€0.8mabove the sector's middle half▼ 1.7%
Solvency-2.3%below the sector's middle half--2.3%below the sector's middle half=
Current ratio2.57within the sector's middle half-1.50within the sector's middle half▼ 1.08
Return on assets (ROA)-2.4%below the sector's middle half--1.0%within the sector's middle half▲ 1.4pp
Staff (FTE)0within the sector's middle half-0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €25,725, smaller than the loss of €33,236 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Key figures and ratios
Quick ratio
0.60▼
2024 · 0.71
Debt ≤ 1 year
€1.7m▲
2024 · €546,945
Debt > 1 year
€903,696▲
2024 · €892,483
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €890 | €520 | ▼ 41.6% |
| Gross operating margin9900 | -€32,347 | -€25,205 | ▲ 22.1% |
| Operating profit (loss)9901 | -€33,236 | -€25,725 | ▲ 22.6% |
| Financial charges65/66B | €342 | €441 | ▲ 28.8% |
| Recurring financial charges65 | €342 | €441 | ▲ 28.8% |
| Profit (loss) for the period before taxes9903 | -€33,579 | -€26,166 | ▲ 22.1% |
| Profit (loss) for the period9904 | -€33,579 | -€26,166 | ▲ 22.1% |
| Profit (loss) for the period to be appropriated9905 | -€33,579 | -€26,166 | ▲ 22.1% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.4m | €2.5m | ▲ 81.0% |
| Current assets29/58 | €1.4m | €2.5m | ▲ 81.0% |
| Stocks and contracts in progress3 | €1.0m | €1.5m | ▲ 49.5% |
| Stocks30/36 | €1.0m | €1.5m | ▲ 49.5% |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | ▲ 65.7% |
| Trade receivables40 | €0.07m | €0.1m | ▲ 84.0% |
| Other amounts receivable41 | €0.08m | €0.1m | ▲ 50.6% |
| Cash at bank and in hand54/58 | €0.001m | €0.6m | ▲ 395× |
| Deferred charges and accrued income490/1 | €0.2m | €0.2m | ▼ 24.2% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.4m | €2.5m | ▲ 81.0% |
| Equity10/15 | -€0.03m | -€0.06m | ▼ 80.3% |
| Contributions10/11 | €0.001m | €0.001m | = |
| Profit (loss) carried forward14 | -€0.03m | -€0.06m | ▼ 77.9% |
| Amounts payable17/49 | €1.4m | €2.6m | ▲ 81.0% |
| Amounts payable after more than one year17 | €0.9m | €0.9m | ▲ 1.3% |
| Other amounts payable178/9 | €0.9m | €0.9m | ▲ 1.3% |
| Amounts payable within one year42/48 | €0.5m | €1.7m | ▲ 211% |
| Financial debts43 | - | €1.5m | - |
| Credit institutions430/8 | - | €1.5m | - |
| Trade debts44 | €0.05m | €0.08m | ▲ 60.9% |
| Suppliers440/4 | €0.05m | €0.08m | ▲ 60.9% |
| Advances received on contracts in progress46 | €0.3m | €0 | ▼ 100% |
| Other amounts payable47/48 | €0.2m | €0.1m | ▼ 39.3% |
| Accrued charges and deferred income492/3 | €15 | €0 | ▼ 100% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€33,579 | -€26,166 | ▲ 22.1% |
| Operating cash flow (approximation) | -€33,579 | -€26,166 | ▲ 22.1% |
| Change in cash | - | €590,691 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,251 companies had the same profile as Royal Botanic Construct has now. Two years later, 96.6% were still going and 1.0% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a small loss
96.6%
was still going
2.1%
stopped otherwise
1.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Royal Botanic Construct itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 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 1,251 companies, not a prediction for Royal Botanic Construct. 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.
Board & ownership
Directors
Directors
2 directors, no change since 2023
Board 2
Real Estate Development Trust
Current
Director (not named in the articles) · appointed in the act of 06-10-2023 · term without a fixed end · Public limited company · permanent representative: GIELEN Jo Raoul Laurent · also on the board of 3 other companies · listed in the 2025 annual accounts, filed on 04-06-2026
VDD PROJECT DEVELOPMENT
Current
Director (not named in the articles) · appointed in the act of 06-10-2023 · term without a fixed end · Private limited company · permanent representative: VANDENDRIESSCHE Johan Didier Maurice · also on the board of 3 other companies · listed in the 2025 annual accounts, filed on 04-06-2026
Permanent representatives 2
GIELEN Jo Raoul Laurent
Current
Permanent representative · appointed in the act of 06-10-2023 · for Real Estate Development Trust
VANDENDRIESSCHE Johan Didier Maurice
Current
Permanent representative · appointed in the act of 06-10-2023 · for VDD PROJECT DEVELOPMENT
Owners and capital
Shareholders
2 ownersOwners 2
- Equity €4.9m Profit of €253,850 in 2025 (profit of €126,365 in 2024) Checked score 8650%
- Equity €7.6m Profit of €1.5m in 2025 (profit of €144,658 in 2024) Checked score 8350%
Capital transactions
Shareholders according to the deeds
At incorporation
act of 06-10-2023 ↗
- VDD PROJECT DEVELOPMENT (BE 0826.235.310) 50 shares (50%) · €500
- REAL ESTATE DEVELOPMENT TRUST (BE 0716.820.201) 50 shares (50%) · €500
Capital over time
- 06-10-2023 Incorporation · €1,000 · 100 shares
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| Real Estate Development Trust |
|
| VDD PROJECT DEVELOPMENT |
|
Network & group
Companies at the same address
44 other companies- Bredestraat SPV Registered office · since 2026 1037354226
- V Brussels Registered office · since 2026 1035575859
- YUST Real Estate Cologne Registered office · since 2025 1025751739
- Bino Capital Establishment · since 2025 1024291096
- Vervaeke, Leen (sole trader) Establishment · since 2025 0847682307
- MABECON Registered office · since 2024 0421581301
- A place Registered office · since 2024 1012246369
- DPG FAMILY FOUNDATION Registered office · since 2024 1011648533
- BINOFIN Registered office · since 2024 1010960724
- BELGOCATERING Establishment · since 2024 0461784435
Connections & network
10 connected companiesThis company
Company
Director
Shareholding
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Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
04-06
abbreviated format · 57 days before the deadline
06-03
Gazette deed
Registered office moved within Antwerpen2 points ▸
Gazette deed
Registered office moved within Antwerpen
2 points ▸
- Board meeting, 10-02-2026
- Registered-office move, Mediaplein 1, 2018 Antwerpen
2025
04-06
abbreviated format · 57 days before the deadline
2023
06-10
Gazette deed
IncorporationStarting capital €1,000 · Appointments: VDD PROJECT DEVELOPMENT (director) and REAL ESTATE DEVELOPMENT TRUST (director) · Permanent representatives: VANDENDRIESSCHE Johan Didier Maurice and GIELEN Jo Raoul Laurent · Founder12 points ▸
Gazette deed
Incorporation
Starting capital €1,000 · Appointments: VDD PROJECT DEVELOPMENT (director) and REAL ESTATE DEVELOPMENT TRUST (director) · Permanent representatives: VANDENDRIESSCHE Johan Didier Maurice and GIELEN Jo Raoul Laurent · Founder12 points ▸
- Founder, VDD PROJECT DEVELOPMENT
- Founder, REAL ESTATE DEVELOPMENT TRUST
- Incorporation, 03-10-2023
- Founding capital, €1,000
- Bank account, “bijzondere rekening geopend namens de vennootschap in oprichting”, 1000 (deed in Dutch)
- Registered office clause, “2600 Antwerpen (Berchem),Vijfhoekstraat 24” (deed in Dutch)
- Board rule, 2
- Director appointment, VDD PROJECT DEVELOPMENT (director (not named in the articles))
- Director appointment, REAL ESTATE DEVELOPMENT TRUST (director (not named in the articles))
- Permanent representative, VANDENDRIESSCHE Johan Didier Maurice
- Permanent representative, GIELEN Jo Raoul Laurent
- Other provision, “verbod uitoefening bestuursfunctie, niet verboden verklaard door bestuurders” (deed in Dutch)
Gazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Royal Botanic Construct in Dutch
Enterprise number
1000.732.073
Legal form
Private limited company
Status
Active, normale toestand
Founded
04-10-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 06-10-2023 (in Dutch)Name clauseThe company operates under this name according to its articles.
Royal Botanic Construct
deed of 06-10-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 06-10-2023 (in Dutch)Registered office and establishments
Registered office
Mediaplein 1, 2018 Antwerpen, Belgium
1 former office
- Vijfhoekstraat 24, 2600 Antwerpen until 01-01-2026 · act of 06-03-2026
Establishment unit
Royal Botanic Construct, Vijfhoekstraat 24, 2600 Antwerpen since 04-10-2023 · unit number 2.350.882.99146180 Agents specialised in the wholesale of other particular products
Activities
NACEBEL 202568121
Development of residential building projects main activity
68122
Development of non-residential building projects
Codes under NACEBEL 2008
41101
Real estate development main activity
41102
Construction of residential and non-residential buildings
Invoicing and payment
VAT number
BE 1000.732.073
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 1000.732.073
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Wednesday of June at 15:00
deed of 06-10-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the addresses
Ground area
2,040 m²
Building footprint
2,030 m²
Building volume
16,453 m³
Tallest building: 16.8 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11808H1130/00L008 | Flanders | 1,898 m² | 1 · 1,898 m² | 16.8 m · 3 |
| 11303B0425/00M017 | Flanders | 142 m² | 1 · 132 m² | 13.3 m · 4 |