THE VALUE GROUP
ActiveSummary
THE VALUE GROUP has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €980,196 and a net result of €237,675, of which €199,361 non-recurring income. Equity is shrinking by about 26% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 49% of 39,121 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €980,196
- Profit
- €237,675
- Board
- 4 members
Why 93raises riskLiquidity: current ratio 1.35, cash €7,678lowers riskSize: total assets €1.8mFounded in 1991Figures for financial year 2025 (filed 03-04-2026)Show the evidence
Checked score
Fewer than 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 70, micro): better than 50% on solvency, 12% on liquidity, 34% on profitability and 74% on growth.
The bankruptcy probability was computed on 23-10-2026 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).
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Signals
This company filed its last 7 accounts on average 1 day after the deadline; the sector median (NACE 70) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Resignations: DE BACKER Philippe Adrien Omer…Appointments: DE BACKER Philippe Adrien…
- Back to profitnet €237,675
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result returns to profit in 2025: €48,856 after a loss of €220,726 in 2024, the highest result in the available series.
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 70, Activities of head offices; management consultancy 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).
- 2022 Equity -51% on 2021. Capital reduction of €1,500,000 (Official Gazette 01-08-2022).
Peer companies
Historical observationOf the 20,139 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
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 497,474 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% | 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% |
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 20,139 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | - | - |
| Other operating charges640/8 | - | - | €0.02m | €0.01m | €0.08m | €0.04m | €0.001m | ▼ 96.4% |
| Gross operating margin9900 | €1.0m | €1.0m | -€0.03m | -€0.02m | -€0.04m | -€0.2m | €0.05m | - |
| Operating profit (loss)9901 | €0.7m | €0.7m | -€0.08m | -€0.06m | -€0.2m | -€0.2m | €0.05m | - |
| Financial income75/76B | - | - | €0.04m | €0.03m | €0.001m | €0.002m | €0.2m | ▲ 114× |
| Recurring financial income75 | €0.03m | €0.04m | €0.04m | €0.03m | €0.001m | €0.002m | €429 | ▼ 75.6% |
| Non-recurring financial income76B | - | - | - | - | - | - | €0.2m | - |
| Financial charges65/66B | - | - | €0.1m | €0.02m | €0.09m | €0.04m | €0.01m | ▼ 74.7% |
| Recurring financial charges65 | €0.1m | €0.2m | €0.1m | €0.02m | €0.01m | €0.01m | €0.01m | ▼ 8.7% |
| Non-recurring financial charges66B | - | - | - | - | €0.08m | €0.03m | - | - |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.5m | -€0.2m | -€0.05m | -€0.2m | -€0.3m | €0.2m | - |
| Income taxes67/77 | - | €0.3m | -€0.3m | - | €0.2m | €0.01m | - | - |
| Profit (loss) for the period9904 | €0.7m | €0.2m | €0.1m | -€0.05m | -€0.5m | -€0.3m | €0.2m | - |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €0.2m | €0.1m | -€0.05m | -€0.5m | -€0.3m | €0.2m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €3.7m | €4.4m | €3.9m | €2.9m | €2.4m | €2.2m | €1.8m | ▼ 16.9% |
| Fixed assets21/28 | €1.5m | €1.6m | €1.6m | €1.2m | €1.1m | €1.1m | €0.7m | ▼ 34.2% |
| Tangible fixed assets22/27 | €0.9m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | - | - |
| Land and buildings22 | - | - | €0.4m | €0.4m | €0.4m | €0.4m | - | - |
| Other tangible fixed assets26 | - | - | €0.04m | €0.04m | - | - | - | - |
| Financial fixed assets28 | €0.6m | €1.1m | €1.1m | €0.8m | €0.7m | €0.7m | €0.7m | = |
| Current assets29/58 | €2.2m | €2.8m | €2.3m | €1.7m | €1.3m | €1.1m | €1.1m | ▼ 0.4% |
| Amounts receivable after more than one year29 | - | - | €0.9m | - | - | - | - | - |
| Trade receivables290 | - | - | €0.9m | - | - | - | - | - |
| Stocks and contracts in progress3 | €1.3m | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | = |
| Stocks30/36 | - | - | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | = |
| Amounts receivable within one year40/41 | €0.1m | €0.2m | €0.08m | €0.06m | €0.05m | €0.004m | €0.001m | ▼ 70.1% |
| Trade receivables40 | - | - | €0.05m | €0.03m | €0.02m | - | €0.001m | - |
| Other amounts receivable41 | - | - | €0.03m | €0.03m | €0.03m | €0.004m | - | - |
| Cash at bank and in hand54/58 | €0.01m | €0.3m | €0.07m | €0.4m | €0.01m | €0.01m | €0.008m | ▼ 22.4% |
| Deferred charges and accrued income490/1 | - | - | - | €436 | - | - | €214 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €3.7m | €4.4m | €3.9m | €2.9m | €2.4m | €2.2m | €1.8m | ▼ 16.9% |
| Equity10/15 | €2.7m | €2.9m | €3.0m | €1.5m | €1.0m | €0.7m | €1.0m | ▲ 32.0% |
| Contributions10/11 | €2.6m | €2.6m | €2.6m | €1.2m | €1.1m | €1.1m | €1.1m | = |
| Capital10 | - | - | €2.6m | €1.2m | €1.1m | €1.1m | €1.1m | = |
| Issued capital100 | - | - | €2.6m | €1.2m | €1.1m | €1.1m | €1.1m | = |
| Reserves13 | €0.02m | €0.03m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Non-distributable reserves130/1 | - | - | €0.3m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | €0.3m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0.07m | €0.3m | €0.2m | - | -€0.4m | -€0.6m | -€0.4m | ▲ 37.8% |
| Amounts payable17/49 | €1.1m | €1.5m | €0.8m | €1.5m | €1.4m | €1.4m | €0.8m | ▼ 42.5% |
| Amounts payable after more than one year17 | €0.7m | €0.6m | €0.7m | €0.6m | €0.5m | - | - | - |
| Financial debts170/4 | - | - | €0.7m | €0.6m | €0.5m | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.4m | €0.1m | €0.9m | €0.9m | €1.4m | €0.8m | ▼ 42.5% |
| Current portion of amounts payable after more than one year42 | - | - | €0.1m | €0.1m | €0.1m | €0.6m | - | - |
| Trade debts44 | €0.04m | €0.04m | €0.04m | €0.04m | €0.05m | €0.01m | - | - |
| Suppliers440/4 | - | - | €0.04m | €0.04m | €0.05m | €0.01m | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €0.2m | €0.07m | - | - |
| Taxes450/3 | - | - | - | - | €0.2m | €0.07m | - | - |
| Other amounts payable47/48 | - | - | €0.002m | €0.7m | €0.6m | €0.8m | €0.8m | ▲ 7.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.004m | €0.001m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €674,860 | €248,882 | €97,710 | -€45,135 | -€459,696 | -€275,851 | €237,675 | - |
| + Depreciation and write-downs630 | €252,321 | €32,684 | €32,684 | €27,784 | €27,784 | €27,784 | - | - |
| Operating cash flow (approximation) | €927,181 | €281,566 | €130,394 | -€17,351 | -€431,912 | -€248,067 | €237,675 | - |
| Investment in fixed assets (approximation) | - | -€169,842 | €44,567 | €312,631 | €115,900 | €0 | €360,881 | - |
| Change in cash | - | €290,215 | -€233,819 | €355,301 | -€411,700 | -€4,421 | -€2,213 | ▲ 49.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | micro format | 01-04-2026 | 2026-00071582 |
| 30-09-2024 | micro format | 17-04-2025 | 2025-00070904 |
| 30-09-2023 | micro format | 24-04-2024 | 2024-00075901 |
| 30-09-2022 | micro format | 24-05-2023 | 2023-00094455 |
| 30-09-2021 | micro format | 29-04-2022 | 2022-20013965 |
| 30-09-2020 | micro format | 28-04-2021 | 2021-11700480 |
| 30-09-2019 | micro format | 05-06-2020 | 2020-15600418 |
| 30-09-2018 | micro format | 24-04-2019 | 2019-10500377 |
| 30-09-2017 | micro format | 25-10-2018 | 2018-70200396 |
| 30-09-2016 | abbreviated format | 28-04-2017 | 2017-10700382 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
2 not recently confirmed
Mandate history
- Board
- Day-to-day management
- not recently confirmed
- began earlier
| Name | Functions and periods |
|---|---|
| DE BACKER Philippe |
|
| LEONARD Chistian |
|
| DE BACKER Philippe Adrien Omer |
|
| SACRAMENTO Klarisse Mae |
|
| LABBE Alain |
|
| Vinck Gilles |
|
| Christian Léonard |
|
| SA Star Freight |
|
| Vink Gilles |
|
| FERON Diane |
|
Owners and capital
Capital and shareholders
- 01-08-2022 Capital reduction of €1,500,000 · to €1,086,341.44 · repaid to the shareholders
- 12-03-2014 Capital increase of €1,350,000 · to €2,586,341.44 · 54,459 new shares · in kind
- 27-06-2011 Capital increase of €800,000 · to €1,236,341.44 · 32,272 new shares · in kind
- 29-09-2010 Capital increase of €300,000 · to €436,341.44 · 12,102 new shares · in kind
Group and network
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
THE VALUE GROUP was incorporated on 22 August 1991.1 Since 2010 the registered office has moved 4 times, most recently to Lasne in 2024.23 Between 2010 and 2014 the capital was increased 3 times, most recently to €2.6m.456 The board currently has 4 members; DE BACKER Philippe has served longest, since 2016.7 Total assets fell from €3.7m in 2019 to €1.8m in 2025.8
Acts, filings and financial milestones
08-01
Gazette deed
Resignations: DE BACKER Philippe Adrien Omer, LEONARD Christian and SACRAMENTO Klarisse MaeAppointments: DE BACKER Philippe Adrien Omer (administrateur statutaire unique) and SACRAMENTO Klarisse Mae (administrateur statutaire subsidiaire) · Registered-office move · Amendment of the articles12 facts ▸
- Other provision, 23-12-2025
- General meeting, 22-12-2025
- Registered-office move, Région wallonne
- Amendment of the articles (2 times)
- Director resignation, DE BACKER Philippe Adrien Omer (director)
- Director resignation, LEONARD Christian (director)
- Director discharge, DE BACKER Philippe Adrien Omer
- Director discharge, LEONARD Christian
- Director appointment, DE BACKER Philippe Adrien Omer (administrateur statutaire unique) (2 times)
- Director appointment, SACRAMENTO Klarisse Mae (administrateur statutaire subsidiaire)
- Director resignation, SACRAMENTO Klarisse Mae (administrateur statutaire subsidiaire)
- Power of attorney
22-11
Gazette deed
Resignations & appointmentsBoard meeting3 facts ▸
- Board meeting, 14-10-2024
- Other provision, “Président du conseil d'administration, durée indéterminée” (deed in French)
- Other provision, “administrateur-délégué, durée indéterminée” (deed in French)
19-03
Gazette deed
Registered officeRegistered-office move2 facts ▸
- General meeting, 06-03-2024
- Registered-office move, Chaussée de Louvain 435 à 1380 Lasne
01-08
Gazette deed
Resignations: DE BACKER Philippe (director) and LEONARD Chistian (director)Reappointments: DE BACKER Philippe (director) and LEONARD Chistian (director) · Capital decrease · Capital12 facts ▸
- General meeting, 22-07-2022
- Capital decrease, €1,500,000
- Capital, €1,086,341.44
- Amendment of the articles
- Director resignation, DE BACKER Philippe (director)
- Director resignation, LEONARD Chistian (director)
- Director reappointment, DE BACKER Philippe (director (not named in the articles))
- Director reappointment, LEONARD Chistian (director (not named in the articles))
- Director discharge, DE BACKER Philippe
- Director discharge, LEONARD Chistian
- Mandate compensation, DE BACKER Philippe
- Mandate compensation, LEONARD Chistian
Show earlier events
12-08
Gazette deed
Appointment: Christian Léonard (director)Resignation: Philippe De Backer (sole director) · Mandate compensation · Power of attorney6 facts ▸
- General meeting, 03-08-2020
- Director appointment, Christian Léonard (director)
- Mandate compensation, Christian Léonard
- Director resignation, Philippe De Backer (sole director)
- Power of attorney, Valérie-Anne de Brauwere
- Power of attorney, Rodolphe Horion
18-10
Gazette deed
Resignations: Star Freight NV (director) and Vink Gilles (director)Director discharge5 facts ▸
- General meeting, 02-05-2018
- Director resignation, Star Freight NV (director)
- Director resignation, Vink Gilles (director)
- Director discharge, Star Freight NV
- Director discharge, Vink Gilles
20-09
Gazette deed
Resignation: STAR FREIGHT (director)1 fact ▸
- Director resignation, STAR FREIGHT (director)
05-04
Gazette deed
Registered officeRegistered-office move2 facts ▸
- General meeting, 21-03-2018
- Registered-office move, Square de l'Arbalète 6 1170 Bruxelles
20-12
Gazette deed
Reappointments: De Backer Philippe, SA Star Freight and Gilles VinckAppointment: De Backer Philippe (managing director)7 facts ▸
- General meeting, 31-03-2017
- Board meeting, 31-03-2017
- Director reappointment, De Backer Philippe (director)
- Director reappointment, SA Star Freight (director)
- Director reappointment, Gilles Vinck (director)
- Director appointment, De Backer Philippe (managing director)
- Director appointment, De Backer Philippe (voorzitter van raad van bestuur)
17-10
Gazette deed
Registered officeRegistered-office move2 facts ▸
- Board meeting, 01-10-2014
- Registered-office move, 1170 Bruxelles, rue de l'Hospice communal 6
12-03
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Capital · Power of attorney4 facts ▸
- General meeting, 26-02-2014
- Capital increase, €1,350,000
- Capital, €2,586,341.44
- Power of attorney, JEROME OTTE
27-06
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Capital · Power of attorney5 facts ▸
- General meeting, 10-06-2011
- Capital increase, €800,000
- Capital, €1,236,341.44
- Amendment of the articles
- Power of attorney, Jérôme OTTE
23-02
Gazette deed
Registered officeRegistered-office move · Administrative seat3 facts ▸
- Board meeting, 21-12-2010
- Registered-office move, avenue du gui, 57 à 1180 Bruxelles
- Administrative seat, “Mijlbekelaan 19, à 9300 Aalst” (deed in French)
29-09
Gazette deed
Capital & shares · Purpose · Amendment of the articlesPurpose change · Capital increase · Capital5 facts ▸
- General meeting, 31-08-2010
- Purpose change, “La société a pour objet, tant en Belgique qu'à l'étranger, pour compte propre ou pour compte de tiers, ou en association ou participation avec des tiers: toute…” (deed in French)
- Capital increase, €300,000
- Capital, €436,341.44
- Amendment of the articles
28-09
Gazette deed
Registered officeRegistered-office move · Administrative seat3 facts ▸
- Board meeting, 27-07-2010
- Registered-office move, 1, rue Félix Delhasse, te 1060 Brussel (franstalig)
- Administrative seat, “Mijlbekelaan 19, te 9300 Aalst” (deed in French)
09-09
Gazette deed
Reappointment: DE BACKER Philippe (bestuurder, gedelegeerd bestuurder en voorzitter van de raad van bestuur)Appointments: SA Star Freight (director) and Gilles Vinck (director) · Permanent representative: ZIEGLER Alain5 facts ▸
- General meeting, 26-05-2010
- Director reappointment, DE BACKER Philippe (bestuurder, gedelegeerd bestuurder en voorzitter van de raad van bestuur)
- Director appointment, SA Star Freight (director)
- Permanent representative, ZIEGLER Alain
- Director appointment, Gilles Vinck (director)
24-03
Gazette deed
Registered officeRegistered-office move2 facts ▸
- Board meeting, 01-03-2010
- Registered-office move, 9300 Aalst, Mijlbekelaan 19
14-08
Gazette deed
Resignation: FERON Diane (director)Appointment: LABBE Alain (director) · Director discharge · Mandate compensation5 facts ▸
- General meeting, 01-06-2006
- Director resignation, FERON Diane (director)
- Director discharge, FERON Diane
- Director appointment, LABBE Alain (director)
- Mandate compensation, LABBE Alain
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 24 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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 |
|---|---|---|---|---|
| 25076F0005/00L002 | Wallonia | 8,821 m² | 1 · 1,080 m² | 7.7 m · 1 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Toute mission de conseil aux entreprises et en particulier la gestion journalière et la direction générale de sociétés, le conseil en…” (deed in French)
Text of the purpose (deed in French)
“Toute mission de conseil aux entreprises et en particulier la gestion journalière et la direction générale de sociétés, le conseil en matière d'organisation et gestion d'entreprises, la recherche et sélection de personnel dirigeant, la recherche et gestion des ressources humaines, l'acquisition et la fusion de sociétés, le conseil en rémunération de dirigeants, et tous autres services intellectuels, sur une base contractuelle ou statutaire; la réalisation d'études de marché; la publicité et les relations publiques sous toutes formes et supports, l'organisation de conférences, de formations, d'expositions, et de concours. l'acquisition, la gestion et la vente d’œuvres d’art, tableaux, meubles et bibelots et toute opération de nature spéculative ayant trait à l'art ; la gestion d'un patrimoine immobilier, en ce compris, l'achat, la vente, la location, la promotion, la mise en valeur et toutes autres formes d'exploitation de tous biens immobiliers qu'elle détiendra en propriété entière, démembrée, en location ou autrement; la gestion d'un patrimoine de valeurs mobilières et immobilières incluant notamment mais non exclusivement : l'investissement, la souscription, la prise ferme, le placement, la vente, l'achat et la négociation d’actions et parts belges ou étrangères, obligations, bons de caisse, certificats et autres valeurs mobilières, des métaux précieux, des terrains et constructions. l'octroi de prêts et avances sous quelque forme ou durée que ce soit, à toutes les entreprises ou personnes liées et l'octroi de garanties, en ce compris comme caution, pour les engagements de ces mêmes personnes.”
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Tous actes nécessaires ou utiles à l'objet sauf réservés par loi ou statuts à l'assemblée générale, assemblée générale des actionnaires” (deed in French)“13ter, restants ont droit de coopter” (deed in French)1 more provision on this in the deed