TOPO Vastgoed
ActiveTOPO Vastgoed has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €898 and a net result of €-64k. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 21% of 13905 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
7
/ 100
Critical▼ -40 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency6▼-80
Growth32=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.75 against 1.5 in 2024), and 99% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
1%
Return on assets
-71.6%
Age of the figures
11 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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€64k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 13905 sector peers (2025).
NBB · sector comparisonPosition among 13905 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 23-03-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
1 d early
2023
on the day
2022
4 d early
2021
2 d late
2020
on the day
2019
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
14-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€898▼ 98.6%
2024 · €64k
2018: €71k
2019: €66k
2020: €79k
2021: €84k
2022: €127k
2023: €120k
2024: €64k
2018 → 2025
Total assets
€89k▼ 24.2%
2024 · €117k
2018: €142k
2019: €149k
2020: €178k
2021: €135k
2022: €188k
2023: €178k
2024: €117k
2018 → 2025
Net result
€-64k▼ 13.9%
2024 · €-56k
2018: €-2k
2019: €-5k
2020: €13k
2021: €5k
2022: €47k
2023: €-7k
2024: €-56k
2018 → 2025
Working capital
€-21k
2024 · €25k
2018: €21k
2019: €28k
2020: €33k
2021: €54k
2022: €49k
2023: €62k
2024: €25k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€84k-€127k▲ 51.0%€120k▼ 5.2%€64k▼ 46.4%€898▼ 98.6%
Operating result€12k-€65k▲ 450%€-4k€-53k▼ 1,160%€-58k▼ 9.3%
Net result€5k-€47k▲ 760%€-7k€-56k▼ 738%€-64k▼ 13.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €58k in 2025 against €53k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €89k
Fixed assets
€24k▼ 40.8%
Current assets
€64k▼ 15.1%
Equity and liabilities €89k
Equity
€898▼ 98.6%
Debt
€88k▲ 67.1%
The debt ratio rises from 44.9% to 99.0%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-42k▼
2024 · €-34k
Cash flow
€-48k▼
2024 · €-37k
Solvency
1.0%▼
2024 · 55.1%
Current ratio
0.75▼
2024 · 1.50
Quick ratio
0.75▼
2024 · 1.50
ROA
-71.6%▼
2024 · -47.6%
Interest coverage
-7.61▲
2024 · -12.26
Debt
€88k▲
2024 · €53k
Debt ≤ 1 year
€86k▲
2024 · €51k
Income taxes
€541▲
2024 · €393
Staff costs
€95k▲
2024 · €92k
Equity ratios withheld: equity of €898 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€117k€89k▼
Fixed assets21/28€41k€24k▼
Tangible fixed assets22/27€40k€23k▼
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€36k€20k▼
Financial fixed assets28€950€950=
Current assets29/58€76k€64k▼
Amounts receivable within one year40/41€25k€52k▲
Trade receivables40€25k€50k▲
Other amounts receivable41-€2k
Cash at bank and in hand54/58€44k€6k▼
Deferred charges and accrued income490/1€7k€6k▼
Equity and liabilities
Total equity and liabilities10/49€117k€89k▼
Equity10/15€64k€898▼
Contributions10/11€20k€20k=
Reserves13€44k€44k=
Distributable reserves133€44k€44k=
Profit (loss) carried forward14-€-64k
Amounts payable17/49€53k€88k▲
Amounts payable within one year42/48€51k€86k▲
Financial debts43€16k€45k▲
Credit institutions430/8€16k€45k▲
Trade debts44€1k€7k▲
Suppliers440/4€1k€7k▲
Taxes, remuneration and social security45€20k€22k▲
Taxes450/3€9k€11k▲
Remuneration and social security454/9€11k€12k▲
Other amounts payable47/48€13k€12k▼
Accrued charges and deferred income492/3€2k€2k=
Income statement
Code20242025
Remuneration, social security and pensions62€92k€95k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€16k▼
Other operating charges640/8€2k€1k▼
Non-recurring operating charges66A-€894
Gross operating margin9900€59k€55k▼
Operating profit (loss)9901€-53k€-58k▼
Financial income75/76B€141€146▲
Recurring financial income75€141€146▲
Financial charges65/66B€3k€6k▲
Recurring financial charges65€3k€6k▲
Profit (loss) for the period before taxes9903€-55k€-63k▼
Income taxes67/77€393€541▲
Profit (loss) for the period9904€-56k€-64k▼
Profit (loss) for the period to be appropriated9905€-56k€-64k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-56k€-64k▼
Transfer from equity791/2€56k-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-64k
Net result drops to €-64k, the lowest in the series.
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Highest result since 2018net €47k ▲760%
Operating result €65k, net result €47k, both a record.
30-09
Financial
Equity above €100kEq €127k ▲51%
3 profitable years in a row build equity to €127k.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €13k
Net result €13k after 2 loss-making years.
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Malle · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Antwerpsesteenweg 2482390 MalleGround area
348 m²
Building footprint
263 m²
Volume, LiDAR
1,611 m³
Parcel 11049A0388/00H003, Flanders · tallest building 11.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TOPO VASTGOED
since 20082.173.990.427
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11049A0388/00H003 | Flanders | 348 m² | 1 · 263 m² | 11.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Pulhof Park
BE 0721.953.974
Antwerpen · Eq €895
DE WONINGMEESTERS
BE 0712.914.168
Antwerpen · Eq €894
ALTITUDE 447
BE 0787.609.217
Jalhay · Eq €903
JB Realis
BE 0803.720.125
Kapellen · Eq €880
EVERNEST DEVELOPMENT
BE 0750.476.825
Ecaussinnes · Eq €917
Of 7,288 companies in sector 68110 we hold annual accounts for 5,354. 434 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-10-2008
Fiscal year end30-09
Activities, NACEBEL
68110Buying and selling of own real estate
68310Real estate agency activities
68311Real estate activities
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.