Equity
THE WHITE MONKEY has made a profit in every financial year since 2015.
THE WHITE MONKEY has made a profit in every financial year since 2015.
The result fell in 2025: the 2024 profit included a one-off income of €21.3m.
The abbreviated format states no turnover.
Debts rose by €2.5m in 2025.
Latest accounts filed late: after the legal deadline.
More equity than 95% of companies in real estate. Sector median €300,201 · 11,304 companies.
The dashed line is the sector median: 0.1% across 1,720 companies (NACE 68, medium-sized).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 92% of them on solvency, 46% on liquidity, 31% on profitability and 46% on growth.
The bankruptcy probability was computed on 09-11-2026 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).
Liquidity is tight, with a current ratio of 1.47 (2.37 in 2024), below the usual 1.5. Short-term debt is 11.5% and cash 0.5% of total assets. 17.2% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 39 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.
| Company | ||||
|---|---|---|---|---|
| THE WHITE MONKEY Anzegem | €30.0m | €220,926 | 82.8% | - |
| RT-COMPANY Knokke-Heist | €18.4m | €233,221 | 0.6% | 1 |
| JOSEPHII12 Ghent | €26.1m | €276,742 | 40.3% | - |
| VIMAVI Sint-Martens-Latem | €24.8m | €305,031 | 84.4% | 2.9 |
| DV REAL ESTATE Lochristi | €20.0m | €375,365 | 4.0% | 0 |
| DISTRIHOLD Ostend | €35.1m | €352,468 | 49.3% | - |
| WONINGEN FINIBO Antwerp | €17.5m | €185,614 | -6.3% | - |
These companies have the same main activity as THE WHITE MONKEY: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €18m and €35m, founded between 2010 and 2017.
THE WHITE MONKEY files the abbreviated format. That format states no turnover. The gross margin rose from €4,762 in 2015 to €220,926 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €470,000. Estimated: probably between €300,000 and €1.1m.
Higher than 86% of 11,299 companies in 2025.
Higher than 60% of 10,851 companies in 2025.
Higher than 45% of 11,184 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
30.0m | 27.3m | 4.5m | 4.2m | 3.7m | 3.4m | 2.5m | 2.2m | 1.8m | 1.1m | 133,073 | |
21/28 |
24.9m | 25.1m | 1.9m | 2.0m | 1.2m | 954,685 | 995,630 | 957,661 | 656,952 | 104,609 | 2,834 | |
22/27 |
806,259 | 838,822 | 887,657 | 937,973 | 876,349 | 732,124 | 771,844 | 733,875 | 484,436 | 2,109 | 2,834 | |
22 |
787,052 | 809,519 | 589,943 | 646,141 | 665,236 | 655,212 | 680,290 | 623,203 | 477,434 | - | - | |
23 |
1,565 | 1,657 | 2,262 | 2,866 | 4,127 | 16,196 | 27,997 | 43,590 | 7,002 | 2,109 | 2,834 | |
24 |
17,641 | 27,646 | 21,183 | 28,763 | 43,194 | 60,715 | 63,557 | 67,082 | - | - | - | |
27 |
- | - | 274,269 | 260,202 | 163,791 | - | - | - | - | - | - | |
28 |
24.1m | 24.2m | 1.0m | 1.1m | 310,744 | 222,562 | 223,786 | 223,786 | 172,516 | 102,500 | - | |
29/58 |
5.1m | 2.2m | 2.6m | 2.2m | 2.5m | 2.4m | 1.5m | 1.2m | 1.2m | 950,302 | 130,239 | |
3 |
853,684 | 823,078 | 903,442 | 960,128 | 1.1m | 1.0m | 903,543 | 687,005 | 589,945 | 268,362 | - | |
30/36 |
853,684 | 823,078 | 903,442 | 960,128 | 1.1m | 1.0m | 903,543 | 687,005 | 589,945 | 268,362 | - | |
40/41 |
1.3m | 1.0m | 549,879 | 382,652 | 411,937 | 388,738 | 495,582 | 238,750 | 90,000 | 634,500 | 66,641 | |
40 |
65,477 | 208,295 | 47,439 | 62,816 | 48,698 | 288,188 | 315,084 | 111,178 | - | 544,500 | - | |
41 |
1.2m | 802,060 | 502,440 | 319,836 | 363,239 | 100,550 | 180,498 | 127,573 | 90,000 | 90,000 | 66,641 | |
50/53 |
2.8m | 293,415 | 951,429 | 808,961 | 808,324 | 627,512 | - | - | - | 10 | 10 | |
54/58 |
162,143 | 98,145 | 147,446 | 25,713 | 99,332 | 413,648 | 80,353 | 309,325 | 495,584 | 47,430 | 30,763 | |
490/1 |
7,949 | 9,723 | 35,441 | 5,054 | 5,938 | 5,864 | 3,899 | 3,625 | - | - | 32,825 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
30.0m | 27.3m | 4.5m | 4.2m | 3.7m | 3.4m | 2.5m | 2.2m | 1.8m | 1.1m | 133,073 | |
10/15 |
24.8m | 24.7m | 2.1m | 2.0m | 1.5m | 1.4m | 1.3m | 1.2m | 898,994 | 293,443 | 9,376 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | 12,400 | 12,400 | 12,400 | |
13 |
24.8m | 24.7m | 2.0m | 2.0m | 1.5m | 1.3m | 1.3m | 1.1m | 892,794 | 287,243 | 3,176 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 159 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
133 |
24.8m | 24.7m | 2.0m | 2.0m | 1.5m | 1.3m | 1.3m | 1.1m | 890,934 | 285,383 | 3,018 | |
17/49 |
5.2m | 2.6m | 2.5m | 2.2m | 2.2m | 2.0m | 1.2m | 1.0m | 933,488 | 761,468 | 123,697 | |
17 |
1.7m | 1.6m | 1.4m | 1.4m | 1.6m | 1.1m | 828,833 | 441,833 | 484,833 | 492,300 | 115,000 | |
170/4 |
1.7m | 1.6m | 1.4m | 1.4m | 1.6m | 1.1m | 828,833 | 441,833 | 484,833 | 492,300 | 115,000 | |
42/48 |
3.5m | 941,652 | 1.1m | 740,582 | 634,272 | 970,385 | 329,537 | 588,036 | 447,841 | 269,168 | 8,697 | |
42 |
122,411 | 121,834 | 496,624 | 107,100 | 107,100 | 223,100 | 43,000 | 43,000 | 43,000 | - | - | |
43 |
3.1m | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | - | - | - | - | - | |
430/8 |
3.1m | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | - | - | - | - | - | |
44 |
69,386 | 251,190 | 48,880 | 74,494 | 3,846 | 212,481 | 20,700 | 101,832 | 1,724 | 7,363 | 2,759 | |
440/4 |
69,386 | 251,190 | 48,880 | 74,494 | 3,846 | 212,481 | 20,700 | 101,832 | 1,724 | 7,363 | 2,759 | |
45 |
28,507 | 30,032 | 7,543 | 22,288 | 4,766 | 17,843 | 58,463 | 334,355 | 379,244 | 247,623 | 5,242 | |
450/3 |
28,507 | 30,032 | 7,543 | 22,288 | 4,766 | 17,843 | 58,463 | 334,355 | 379,244 | 247,623 | 5,242 | |
47/48 |
130,198 | 38,596 | 26,627 | 36,700 | 18,559 | 16,961 | 207,373 | 108,849 | 23,872 | 14,182 | 696 | |
492/3 |
6,045 | 60,509 | - | - | - | 868 | 780 | 294 | 814 | - | - | |
| Income statement | ||||||||||||
76A |
44,166 | 13,000 | - | - | - | - | - | - | 430 | - | - | |
9900 |
220,926 | 465,254 | 179,604 | 593,592 | 274,417 | 217,680 | 505,934 | 699,636 | 1.0m | 455,951 | 4,762 | |
630 |
89,421 | 135,658 | 67,506 | 73,541 | 92,466 | 101,049 | 114,065 | 113,484 | 81,257 | 1,406 | 1,641 | |
640/8 |
6,603 | 5,441 | 4,058 | 7,659 | 3,442 | 21,970 | 2,433 | 1,673 | 1,429 | 2,254 | - | |
9901 |
124,901 | 324,154 | 108,040 | 512,392 | 178,509 | 94,661 | 389,436 | 584,479 | 954,669 | 452,290 | 3,121 | |
75/76B |
173,770 | 22.5m | 20,188 | 208,553 | 8,610 | 3,126 | - | 2,077 | - | - | 5,327 | |
75 |
173,770 | 1.3m | 20,188 | 208,553 | 8,610 | 3,126 | - | 2,077 | - | - | 5,327 | |
76B |
- | 21.3m | - | - | - | - | - | - | - | - | - | |
65/66B |
143,053 | 145,410 | 72,595 | 48,414 | 42,727 | 35,010 | 28,707 | 12,492 | 30,132 | 17,443 | 30 | |
65 |
118,053 | 120,410 | 72,595 | 48,414 | 42,727 | 35,010 | 28,707 | 12,492 | 30,132 | 17,443 | 30 | |
66B |
25,000 | 25,000 | - | - | - | - | - | - | - | - | - | |
9903 |
155,619 | 22.7m | 55,632 | 672,531 | 144,391 | 62,777 | 360,729 | 574,064 | 924,537 | 434,847 | 8,418 | |
67/77 |
26,784 | 64,301 | 23,471 | 120,318 | 36,495 | 19,788 | 107,075 | 148,666 | 318,987 | 150,781 | 5,242 | |
9904 |
128,834 | 22.7m | 32,162 | 552,213 | 107,896 | 42,989 | 253,654 | 425,398 | 605,551 | 284,067 | 3,176 | |
9905 |
128,834 | 22.7m | 32,162 | 552,213 | 107,896 | 42,989 | 253,654 | 425,398 | 605,551 | 284,067 | 3,176 | |
| Appropriation of the result | ||||||||||||
9906 |
128,834 | 22.7m | 32,162 | 552,213 | 107,896 | 42,989 | 253,654 | 425,398 | 605,551 | 284,067 | 3,176 | |
791/2 |
- | - | - | - | - | - | - | 70,588 | - | - | - | |
691/2 |
128,834 | 22.7m | 32,162 | 552,213 | 107,896 | 42,989 | 153,654 | 325,398 | 605,551 | 284,067 | 3,176 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,701 | 159 | |
6921 |
128,834 | 22.7m | 32,162 | 552,213 | 107,896 | 42,989 | 153,654 | 325,398 | 605,551 | 282,365 | 3,018 | |
694/7 |
- | - | - | - | - | - | 100,000 | 170,588 | - | - | - | |
694 |
- | - | - | - | - | - | 100,000 | 170,588 | - | - | - | |
| Document | ||||||||||||
The notes to these accounts have 23 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-09-2026.
2025 annual accounts filed 61 days after the deadline. Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00540083.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-09-2026 | 2026-00540083 | |
| 31-12-2024 | abbreviated format | 06-06-2025 | 2025-00126368 | |
| 31-12-2023 | abbreviated format | 30-09-2024 | 2024-00490192 | |
| 31-12-2022 | abbreviated format | 29-09-2023 | 2023-00466830 | |
| 31-12-2021 | abbreviated format | 30-09-2022 | 2022-20453441 | |
| 31-12-2020 | abbreviated format | 26-08-2021 | 2021-56400475 | |
| 31-12-2019 | abbreviated format | 29-09-2020 | 2020-56900249 | |
| 31-12-2018 | abbreviated format | 14-06-2019 | 2019-19100549 | |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-56300490 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-59600574 | |
| 31-12-2015 | abbreviated format | 29-09-2016 | 2016-62400019 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 214,323 | 459,812 | 175,546 | 585,933 | 270,975 | 195,710 | 503,501 | 697,963 | 1.0m | 453,696 | 4,762 | ||
| 218,256 | 22.8m | 99,668 | 625,754 | 200,362 | 144,038 | 367,719 | 538,882 | 686,808 | 285,473 | 4,817 | ||
| 65,746 | 23.7m | 78,110 | 889,473 | 324,874 | 61,329 | 152,034 | 414,193 | 633,600 | 103,181 | 4,475 | ||
| 63,998 | -49,301 | 121,733 | -73,619 | -314,316 | 333,294 | -228,972 | -186,259 | 448,154 | 16,668 | - | ||
| 1.6m | 1.3m | 1.5m | 1.4m | 1.8m | 1.5m | 1.2m | 650,670 | 727,689 | 681,134 | 121,542 | ||
| 82.8% | 90.4% | 45.4% | 48.3% | 40.2% | 40.1% | 53.2% | 53.1% | 49.1% | 27.8% | 7.0% | ||
| 1.47 | 2.37 | 2.40 | 2.95 | 3.90 | 2.51 | 4.50 | 2.11 | 2.62 | 3.53 | 14.98 | ||
| 1.22 | 1.50 | 1.56 | 1.65 | 2.09 | 1.48 | 1.76 | 0.94 | 1.31 | 2.53 | 14.98 | ||
| 0.21 | 0.11 | 1.20 | 1.07 | 1.49 | 1.49 | 0.88 | 0.88 | 1.04 | 2.59 | 13.19 | ||
| 0.5% | 91.7% | 1.6% | 27.3% | 7.3% | 3.2% | 19.2% | 36.5% | 67.4% | 96.8% | 33.9% | ||
| 0.4% | 82.9% | 0.7% | 13.2% | 2.9% | 1.3% | 10.2% | 19.4% | 33.0% | 26.9% | 2.4% | ||
| 1.82 | 3.82 | 2.42 | 12.10 | 6.34 | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €3.1m | - | - | - | - |
| Mortgages, amount registered | €25,000 | - | - | - | - |
| €284,000 | - | - | - | - | |
| Carrying value of the mortgaged assets | €280,569 | - | - | - | - |
| Pledge on other assets, amount secured | €500,000 | - | - | - | - |
| Carrying value of the other pledged assets | €500,000 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €56,858 | €86,823 | €17,190 | €135,165 | €236,691 |
| Financial fixed assets | €8,888 | €23.6m | €60,920 | €754,308 | €88,182 |
| €89,421 | €135,658 | €67,506 | €73,541 | €92,466 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 61% lower than in 2024.
Debt's share of the balance-sheet total rises from 9.6% to 17.2%. Equity and debt are higher.
Source: list of holdings in its own 2025 accounts. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
| ALTER RE
registered office since 01-10-2007 · founded in 2007 |
total assets €1.4m (2026) 0892.459.287 |
| ALTER INVEST
registered office since 03-04-2008 · founded in 2008 |
total assets €313,221 (2025) 0896.918.517 |
Source for every holding own accounts 2025
| Name | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| HOP ON | 50% | |||||||||
| SIRIUS INSTITUTE | 40% | |||||||||
| TC & Partners | 25% | |||||||||
| ION Service Provider | 25% | 40% | ||||||||
| LION INVESTMENT FUND | 40% | |||||||||
Source: list of holdings in its own accounts
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Lange Winterstraat 35 registered office 8570 Anzegem | 13-02-2015 | 2.239.369.318 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34002F0534/00F000 | 2,076 m² | 1 · 176 m² | 8.8 m · 2 |
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