Result
€45,372 €45,372
Back in profit in 2025, after a loss of €414,171 in 2024.
Souterrain
Lifetime
8 annual accounts with figures on one time axispeak €768,146 (2025)
€768,146▲ 111%
lowest -€623,379 (2021)
€45,372▲ €459,543
peak €5.1m (2021)
€3.9m▲ 1.2%
€16.8m▲ 18.6%
peak 1.5 FTE (2023)
-not published
Board4 names since 2017
4 directorsARGOS and 3 others
Owners
consolidatesARGOS
Documentsfilings and deeds
29-07-20262 days before the deadline
2025abbreviated format
Gross margin from €364,111 to €768,146Back to profit: €45,372Appointment: CEMATH CONSULT (director) 06-10Debts from €14.1m to €16.8mInvestments €3.1mCash from €133,069 to €210,679
Key points
from the 2025 annual accountsDebts
€16.8m 81% of the balance sheet
Suppliers 0%Taxes and wages 0%Other 100%
Of this, €21,431 falls due within a year.
Investments
€1.4m 2.7 × depreciation
Green is investment, beige is depreciation.
Checked score
95
Excellent
Financially stronger than 60% of medium-sized companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,720 companies (NACE 68, medium-sized).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.5%▲ +0.1 percentage points vs 03-2025
05-2025: 0.5%● unchanged vs 04-2025
06-2025: 0.5%● unchanged vs 05-2025
07-2025: 0.6%▲ +0.1 percentage points vs 06-2025
08-2025: 1.0%▲ +0.4 percentage points vs 07-2025
09-2025: 1.2%▲ +0.2 percentage points vs 08-2025highest value
10-2025: 0.3%▼ -0.9 percentage points vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.4%▲ +0.1 percentage points vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.5%▲ +0.1 percentage points vs 06-2026
08-2026: 0.1%▼ -0.4 percentage points vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 51.16, cash €210,679
lowers risk
Size: turnover €761,894, total assets €20.7m
Sector: Real estate activities (NACE 68)
Figures for financial year 2025 (filed on 04-08-2026)
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, medium-sized). It does better than 40% of them on solvency, 67% on liquidity, 84% on profitability and 50% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 144 companies had the same profile as Souterrain has now. Each dot is one company, two years later.
96.5%
were still trading
2.1%
stopped another way
1.4%
went bankrupt
The bankruptcy probability of Souterrain itself is lower: 0.1% within 12 months. It rests on far more data about Souterrain than the profile alone.
Test of the method
The method was tested on the 497,447 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 144 companies, not a prediction for Souterrain. 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.
Credit verdict
Credit of up to €75,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 51.16 (46.09 in 2024), above the usual 1.5. Short-term debt is 0.1% and cash 1% of total assets. However, 81.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 29-07-2026, 2 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
2 days early
2024
29 days late
2023
13 days early
2022
11 days early
2021
3 days early
2020
1 day early
2019
38 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 5 days after 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. The company usually files around 28 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
L
LEAG
Director, Griet MEGANCK, since 27-07-2017
- Argos CommV consolidatesannual accounts 2025
Shares in 2 companies, NOVUS INVEST and Le Toit de Saignon
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0678944075
Appointment: CEMATH CONSULT (director)
Permanent representative: Hans Degrande · General meeting of 01-09-2025 · Gazette deed
1 director appointed
RAIMU (director) · Permanent representatives: Robin DUMOULIN and Dominiek Dumoulin · General meeting of 19-08-2021 · Gazette deed
2 directors appointed
ARGOS (director) and LEAG (director) · Permanent representatives: Dominiek DUMOULIN and Griet MEGANCK · General meeting of 26-05-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Souterrain Kortrijk | €761,894 | 26.4% | 18.9% | - |
| DBD Properties Ghent | - | - | 31.9% | 0 |
| KERCKEBOSCH KNOKKE Kortrijk | - | - | -10.6% | 0.7 |
| JOMA 2060 Waregem | - | - | 34.4% | - |
| STIV Deerlijk | - | - | 8.9% | - |
| Masergy Invest Brussels Brussels | - | - | 52.0% | - |
| Immo Nightingale Molenbeek-Saint-Jean | €762,016 | -2.5% | 98.7% | - |
Grey: the largest companies of the sector (real estate (NACE 68)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Souterrain: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €16m and €26m, founded between 2016 and 2019.
Official details
Source: KBO- Status
- Active since 27-07-2017Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 2 others
- Establishment unit
- 2.266.796.5628500 Kortrijk, since 27-07-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €20.7m▲ 14.9%
- Filing
- Filed on 29-07-2026, 2 days before the end of the filing period
Insights on Souterrain
Souterrain files the abbreviated format. That format states no turnover. The gross margin rose from €5,098 in 2018 to €768,146 in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Souterrain
- What is the company number of Souterrain?
- The company number of Souterrain is 0678.944.075. The VAT number is the same number with BE in front: BE 0678.944.075.
- Where is Souterrain based?
- The registered office is at Anna Bijnslaan 6, 8500 Kortrijk.Company details
- What does Souterrain do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of Souterrain?
- Souterrain is a private limited company (BV).
- When was Souterrain founded?
- Souterrain was founded on 27-07-2017.
- Is Souterrain still active?
- Yes, Souterrain is an active enterprise in the KBO register.
- How many employees does Souterrain have?
- Souterrain had an average of 1.2 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of Souterrain?
- The turnover of Souterrain was €761,894 in financial year 2025, according to the filed annual accounts.
- Is Souterrain profitable?
- In financial year 2025, Souterrain made a profit of €45,372.
- Where can I find the annual accounts of Souterrain?
- Souterrain filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Souterrain due?
- Souterrain must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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