Sense Development
ActiveSummary
Sense Development has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.15M and a net result of €-104k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 21% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▼-14
Solvency32▲+1
Growth35▼-33
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 2.62 against 3.25 in 2024; short-term debt: 38.2% and cash: 0.2% of total assets), but 92.8% of the assets are financed with debt.
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Signals
Six 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 →
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
7.2%
Return on assets
-0.7%
Age of the figures
9 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 4556 sector peers (2025).
NBB · sector comparisonPosition among 4556 sector peers
Solvency
better than 21%
← weakest
strongest →
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
15 d early
2023
5 d early
2022
5 d early
2021
25 d early
2020
18 d early
2019
9 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.88M▼ 90.3%
2024 · €19.42M
EBIT margin
-5.1%▼ 9.8pp
2024 · 4.7%
Net result
€-104k
2024 · €1.00M
Working capital
€9.84M▼ 27.2%
2024 · €13.52M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€7.33M▲ 2,326%€15.28M▲ 109%€21.05M▲ 37.7%€19.42M▼ 7.7%€1.88M▼ 90.3%
Operating result€74k€-656k€-670k▼ 2.2%€918k€-96k
Net result€33k€-648k€-1.50M▼ 132%€1.00M€-104k
EBIT margin1.0%▲ 410.5pp-4.3%▼ 5.3pp-3.2%▲ 1.1pp4.7%▲ 7.9pp-5.1%▼ 9.8pp
Equity€-95k▲ 26.0%€-743k▼ 681%€-2.25M▼ 202%€1.26M€1.15M▼ 8.3%
Total assets€51.42M▲ 17.6%€49.89M▼ 3.0%€38.64M▼ 22.5%€19.53M▼ 49.5%€15.93M▼ 18.4%
Debt€51.52M▲ 17.5%€50.63M▼ 1.7%€40.89M▼ 19.2%€18.27M▼ 55.3%€14.77M▼ 19.1%
Working capital€27.03M▲ 1.9%€30.86M▲ 14.2%€32.53M▲ 5.4%€13.52M▼ 58.4%€9.84M▼ 27.2%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €96k after €918k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €15.93M
Equity
€1.15M ▼ 8.3%
Debt
€14.77M ▼ 19.1%
Debt's share of the balance-sheet total falls from 93.6% to 92.8%. Equity and debt are lower.
Key figures and ratios
Current ratio
2.62▼
2024 · 3.25
Quick ratio
0.07▼
2024 · 0.76
Debt to equity
12.83▼
2024 · 14.55
ROE
-9.1%▼
2024 · 79.8%
ROA
-0.7%▼
2024 · 5.1%
Debt ≤ 1 year
€6.09M▲
2024 · €6.01M
Debt > 1 year
€8.69M▼
2024 · €12.27M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €7.62M | €15.28M | €21.21M | €19.69M | €1.91M | ▼ 90.3% |
| Turnover70 | €7.33M | €15.28M | €21.05M | €19.42M | €1.88M | ▼ 90.3% |
| Other operating income74 | - | €687 | - | - | €30k | - |
| Non-recurring operating income76A | €298k | - | €161k | €274k | - | - |
| Operating charges60/66A | €7.55M | €15.94M | €21.88M | €18.78M | €2.01M | ▼ 89.3% |
| Goods for resale, raw materials and consumables60 | €6.62M | €15.15M | €21.35M | €18.54M | €1.80M | ▼ 90.3% |
| Purchases600/8 | - | - | €7.52M | - | - | - |
| Change in stocks: decrease (increase)609 | €6.62M | €15.15M | €13.83M | €18.54M | €1.80M | ▼ 90.3% |
| Services and other goods61 | €301k | €767k | €480k | €235k | €208k | ▼ 11.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €616k | - | - | - | - | - |
| Other operating charges640/8 | €8k | €23k | €26k | €1k | €3k | ▲ 164% |
| Non-recurring operating charges66A | - | - | €24k | - | - | - |
| Operating profit (loss)9901 | €74k | €-656k | €-670k | €918k | €-96k | ▼ 110% |
| Financial income75/76B | €1k | €38k | €173k | €173k | - | - |
| Recurring financial income75 | €1k | €25k | €173k | €173k | - | - |
| Income from current assets751 | €1k | €25k | €173k | €173k | - | - |
| Non-recurring financial income76B | - | €14k | - | - | - | - |
| Financial charges65/66B | €27k | €30k | €1.01M | €35k | €8k | ▼ 77.1% |
| Recurring financial charges65 | €27k | €30k | €1.01M | €35k | €8k | ▼ 77.1% |
| Debt charges650 | €547 | €3k | €993k | €22k | - | - |
| Other financial charges652/9 | €27k | €27k | €13k | €13k | €8k | ▼ 37.9% |
| Profit (loss) for the period before taxes9903 | €48k | €-648k | €-1.50M | €1.06M | €-104k | ▼ 110% |
| Income taxes67/77 | €15k | - | - | €54k | - | - |
| Taxes670/3 | €80k | - | - | €54k | - | - |
| Tax adjustments and reversals of tax provisions77 | €65k | - | - | - | - | - |
| Profit (loss) for the period9904 | €33k | €-648k | €-1.50M | €1.00M | €-104k | ▼ 110% |
| Profit (loss) for the period to be appropriated9905 | €33k | €-648k | €-1.50M | €1.00M | €-104k | ▼ 110% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €51.42M | €49.89M | €38.64M | €19.53M | €15.93M | ▼ 18.4% |
| Current assets29/58 | €51.42M | €49.89M | €38.64M | €19.53M | €15.93M | ▼ 18.4% |
| Amounts receivable after more than one year29 | €486k | €1.22M | €5.08M | - | €8k | - |
| Other amounts receivable291 | €486k | €1.22M | €5.08M | - | €8k | - |
| Stocks and contracts in progress3 | €47.86M | €44.17M | €30.34M | €14.95M | €15.52M | ▲ 3.8% |
| Stocks30/36 | €47.86M | €44.17M | €30.34M | €14.95M | €15.52M | ▲ 3.8% |
| Property held for sale35 | €47.86M | €44.17M | €30.34M | €14.95M | €15.52M | ▲ 3.8% |
| Amounts receivable within one year40/41 | €2.88M | €1.01M | €2.21M | €3.98M | €361k | ▼ 90.9% |
| Trade receivables40 | €2.72M | €686k | €1.92M | €3.89M | €238k | ▼ 93.9% |
| Other amounts receivable41 | €160k | €328k | €295k | €87k | €122k | ▲ 40.6% |
| Cash at bank and in hand54/58 | €192k | €3.48M | €916k | €479k | €34k | ▼ 92.8% |
| Deferred charges and accrued income490/1 | €8k | €7k | €99k | €117k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €51.42M | €49.89M | €38.64M | €19.53M | €15.93M | ▼ 18.4% |
| Equity10/15 | €-95k | €-743k | €-2.25M | €1.26M | €1.15M | ▼ 8.3% |
| Contributions10/11 | €500k | €500k | €500k | €3.00M | €3.00M | = |
| Capital10 | €500k | €500k | €500k | €3.00M | €3.00M | = |
| Issued capital100 | €500k | €500k | €500k | €3.00M | €3.00M | = |
| Reserves13 | €50k | €50k | €50k | €50k | €50k | = |
| Non-distributable reserves130/1 | €50k | €50k | €50k | €50k | €50k | = |
| Legal reserve130 | €50k | €50k | €50k | €50k | €50k | = |
| Profit (loss) carried forward14 | €-645k | €-1.29M | €-2.80M | €-1.79M | €-1.90M | ▼ 5.8% |
| Amounts payable17/49 | €51.52M | €50.63M | €40.89M | €18.27M | €14.77M | ▼ 19.1% |
| Amounts payable after more than one year17 | €26.84M | €31.60M | €34.76M | €12.27M | €8.69M | ▼ 29.2% |
| Financial debts170/4 | €26.84M | €31.60M | €34.76M | €12.27M | €8.69M | ▼ 29.2% |
| Credit institutions173 | €12.19M | €15.25M | €17.17M | €2.86M | €1.81M | ▼ 36.7% |
| Other loans174 | €14.65M | €16.34M | €17.59M | €9.40M | €6.87M | ▼ 26.9% |
| Amounts payable within one year42/48 | €24.39M | €19.02M | €6.12M | €6.01M | €6.09M | ▲ 1.4% |
| Current portion of amounts payable after more than one year42 | €2.40M | - | - | €862k | €1.00M | ▲ 15.9% |
| Financial debts43 | €33k | €59k | - | - | - | - |
| Credit institutions430/8 | €33k | €59k | - | - | - | - |
| Trade debts44 | €2.65M | €810k | €1.42M | €820k | €129k | ▼ 84.2% |
| Suppliers440/4 | €2.65M | €810k | €1.42M | €820k | €129k | ▼ 84.2% |
| Advances received on contracts in progress46 | €19.31M | €18.15M | €4.66M | €4.25M | €4.78M | ▲ 12.5% |
| Taxes, remuneration and social security45 | €3k | €528 | €38k | €72k | €179k | ▲ 149% |
| Taxes450/3 | €3k | €528 | €38k | €72k | €179k | ▲ 149% |
| Other amounts payable47/48 | - | - | - | €3k | - | - |
| Accrued charges and deferred income492/3 | €288k | €10k | €12k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33k | €-648k | €-1.50M | €1.00M | €-104k | ▼ 110% |
| Operating cash flow (approximation) | €33k | €-648k | €-1.50M | €1.00M | €-104k | ▼ 110% |
| Change in cash | - | €3.29M | €-2.56M | €-438k | €-444k | ▼ 1.5% |
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
21-09
State Gazette act
Permanent representatives: Luc Van Moerzeke and Michael De MeyerReappointment: Sense Real Estate NV (director) · Appointment: Deloitte Bedrijfsrevisoren (statutory auditor) · Power of attorney6 facts ▸
State Gazette act
Permanent representatives: Luc Van Moerzeke and Michael De Meyer
Reappointment: Sense Real Estate NV (director) · Appointment: Deloitte Bedrijfsrevisoren (statutory auditor) · Power of attorney6 facts ▸
- General meeting, 30-06-2026
- Permanent representative, Luc Van Moerzeke (permanent representative)
- Power of attorney, Sumus Accountants BV
- Permanent representative, Michael De Meyer (permanent representative)
- Director reappointment, Sense Real Estate NV (director)
- Auditor appointment, Deloitte Bedrijfsrevisoren (statutory auditor)
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €1.00M
Net result €1.00M after 2 loss-making years.
31-12
Financial
Equity above €1MEq €1.26M
Equity rises from €-2.25M to €1.26M.
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-1.50M
Net result drops to €-1.50M, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 6.32
Current ratio from 2.62 to 6.32; short-term debt falls from €19.02M to €6.12M.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €1MEq €1.18M ▲38.7%
2 profitable years in a row build equity to €1.18M.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 15 acts read
About the unread acts
Of the 15 Belgian State Gazette acts we know for this company, 1 has been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director
Sense Real Estate NV
CurrentDirector · Legal entity · perm. rep.: Luc Van Moerzeke
Not every act has been read: a resignation may be missing here
14 of this company's 15 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, Brasschaat · 1 establishment unit since 2013
Ground area
3,097 m²
Building footprint
1,162 m²
Volume, LiDAR
16,426 m³
Parcel 11008B0231/00G002, Flanders · tallest building 17.6 m, ±5 floors. Linked by address, not a title deed.
26
companies at this address
See who is registered here
1 establishment unit
Sense Development
since 20132.225.140.705
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11008B0231/00G002 | Flanders | 3,097 m² | 1 · 1,162 m² | 17.6 m · 5 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.
Statutory auditor
1 auditor| Deloitte BedrijfsrevisorenCurrent Statutory auditor · represented by Jo Van Baelen (A 02449), bedrijfsrevisor | 21-09-2026 → present |
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,385. 3,130 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
Founded06-09-2013
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.