SEAFRONT DEVELOPMENT
ActiveSummary
SEAFRONT DEVELOPMENT has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€156,979) and a net result of -€60,935. Equity is shrinking by about 75% per year across the filed financial years. Its solvency ranks better than 9% of 5,738 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- -€156,979
- Loss
- -€60,935
- Parent
- AG REAL ESTATE LAND · 70%
- AMAURY DE CROMBRUGGHEDirector
- LUMA REAL ESTATEDirector · permanent representative Bert GRUGEON
Why 54raises riskCapped at 59: negative equityNegative equity -€156,979lowers riskSize: total assets €2.0mSector: Real estate activities (NACE 68)Figures for financial year 2025 (filed 23-06-2026)Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 7% on solvency, 87% on liquidity, 22% on profitability and 7% on growth.
The bankruptcy probability was computed on 18-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 3 accounts on average 35 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Reappointment: Sinio BV (statutory auditor)Permanent representative: Olivier RONSMANS
- Annual accounts filedfinancial year 2025 · full…
- Resignations: Filip DEPREZ (class A director)…Permanent representatives: Marc VAN BEGIN…
Financials · financial year 2025, full format
2023 to 2025, 3 financial years
The operating result stays negative: a loss of €43,114 in 2025 against €65,964 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,251 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 96.6% are still going.
- Small
- 2 to 5 years old
- negative equity
- a small loss
A further 0.3% 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 497,472 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% | 1.8% |
| 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 74.5% 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 1,251 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | €732 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | -€60,651 | -€65,577 | -€42,714 | ▲ 34.9% |
| Operating profit (loss)9901 | -€61,383 | -€65,964 | -€43,114 | ▲ 34.6% |
| Financial charges65/66B | €13,898 | €16,300 | €17,821 | ▲ 9.3% |
| Recurring financial charges65 | €13,898 | €16,300 | €17,821 | ▲ 9.3% |
| Profit (loss) for the period before taxes9903 | -€75,280 | -€82,264 | -€60,935 | ▲ 25.9% |
| Profit (loss) for the period9904 | -€75,280 | -€82,264 | -€60,935 | ▲ 25.9% |
| Profit (loss) for the period to be appropriated9905 | -€75,280 | -€82,264 | -€60,935 | ▲ 25.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €0.5m | €1.5m | €2.0m | ▲ 31.3% |
| Fixed assets21/28 | €1 | €1 | €1 | = |
| Financial fixed assets28 | €1 | €1 | €1 | = |
| Current assets29/58 | €0.5m | €1.5m | €2.0m | ▲ 31.3% |
| Stocks and contracts in progress3 | €0.3m | €1.2m | €1.8m | ▲ 45.0% |
| Stocks30/36 | €0.3m | €1.2m | €1.8m | ▲ 45.0% |
| Amounts receivable within one year40/41 | €0.03m | €0.008m | €0.05m | ▲ 488% |
| Other amounts receivable41 | €0.03m | €0.008m | €0.05m | ▲ 488% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.2m | ▼ 40.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €0.5m | €1.5m | €2.0m | ▲ 31.3% |
| Equity10/15 | -€0.01m | -€0.1m | -€0.2m | ▼ 63.4% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | = |
| Capital10 | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | -€0.08m | -€0.2m | -€0.2m | ▼ 38.7% |
| Amounts payable17/49 | €0.5m | €1.6m | €2.2m | ▲ 33.1% |
| Amounts payable after more than one year17 | €0.5m | €1.6m | €2.1m | ▲ 30.0% |
| Financial debts170/4 | €0.5m | €1.6m | €2.1m | ▲ 30.0% |
| Amounts payable within one year42/48 | €0.03m | €0.05m | €0.1m | ▲ 123% |
| Trade debts44 | €0.03m | €0.05m | €0.1m | ▲ 123% |
| Suppliers440/4 | €0.03m | €0.05m | €0.1m | ▲ 123% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€75,280 | -€82,264 | -€60,935 | ▲ 25.9% |
| Operating cash flow (approximation) | -€75,280 | -€82,264 | -€60,935 | ▲ 25.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €103,170 | -€117,403 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 23-06-2026 | 2026-00200199 |
| 31-12-2024 | abbreviated format | 27-06-2025 | 2025-00200539 |
| 31-12-2023 | abbreviated format | 28-06-2024 | 2024-00197370 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 2
Permanent representatives 2
Statutory auditor 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| AMAURY DE CROMBRUGGHE |
|
| LUMA REAL ESTATE |
|
| Sinio BV |
|
| BV Marc Van Begin |
|
| Filip DEPREZ |
|
Owners and capital
Owners
2 ownersChain of control
- SFH
- ageas SA/NV
- Ageas Insurance International NV
- AG INSURANCE
- AG REAL ESTATE
- AG REAL ESTATE LAND
- SEAFRONT DEVELOPMENT
Highest known parent: SFH. The sources do not say who stands above it.
Owners 2
-
70%
- SFHconsolidating parentconsolidates
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
37 connected companiesShow 33 more companies with a shared director
History
Acts, filings and financial milestones
30-06
Gazette deed
Reappointment: Sinio BV (statutory auditor)Permanent representative: Olivier RONSMANS3 facts ▸
- General meeting, 19-06-2026
- Auditor reappointment, Sinio BV (statutory auditor)
- Permanent representative, Olivier RONSMANS
02-12
Gazette deed
Resignations: Filip DEPREZ (class A director) and Marc Van Begin BV (class A director)Permanent representatives: Marc VAN BEGIN, Amaury DE CROMBRUGGHE and Bert GRUGEON · Appointments: Amaury de Crombrugghe BV (class A director) and LUMA REAL ESTATE BV (class A director)8 facts ▸
- General meeting, 19-11-2025
- Director resignation, Filip DEPREZ (class A director)
- Director resignation, Marc Van Begin BV (class A director)
- Permanent representative, Marc VAN BEGIN
- Director appointment, Amaury de Crombrugghe BV (class A director)
- Director appointment, LUMA REAL ESTATE BV (class A director)
- Permanent representative, Amaury DE CROMBRUGGHE
- Permanent representative, Bert GRUGEON
31-10
Gazette deed
Resignations: Erlinde Eeman (class A director) and Xavier Denis (class A director)Appointments: Filip Deprez (class A director) and Katelijne Hoeven (class A director)5 facts ▸
- General meeting, 07-10-2024
- Director resignation, Erlinde Eeman (class A director)
- Director resignation, Xavier Denis (class A director)
- Director appointment, Filip Deprez (class A director)
- Director appointment, Katelijne Hoeven (class A director)
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 18 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0795.135.823
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21805E0482/00C000 | Brussels | 3,149 m² | 1 · 3,026 m² | 31.9 m · 9 |
How the parcels are linked
Articles of association
- Other provisionsOther rules from the articles that fall under none of the themes above.
- 1 more provision in the deed, see the deed of 31-10-2024
Read from the deeds: 1 provision, deed of 31-10-2024