Checked.be
Active
BE 0664.827.607Private limited company (pre-2019)
Veulen Estate
Kasteelstraat(Veul.) 19 ·3870 Heers, Belgium· 9 yrs active
Sector: Property management for co-owned buildings (syndics)
(68321)
Conclusion
Veulen Estate has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.06M and a net result of €62k. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 38% of 1573 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €1.06M |
| Net result | €62k |
| Staff (FTE) | 1 |
| Better than sector | 38% |
Financial profile
67
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
84
Profitability
29
Solvency
69
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2016, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
84
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€90k
estimate, not credit advice
Score history
83
2021
76
2022
84
2023
76
2024
84
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.53 (≥ 1.5)
+10
Quick ratio
Quick ratio 2.53 (≥ 1.0)
+5
Profitability
ROE 6%
+3
Interest coverage
Interest coverage 7.5× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 26-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~3.4%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 73, Advertising, market research and public relations activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 29.7% | 44.0% | |
| Net result | €62k | €18k | |
| Equity | €1.06M | €190k | |
| Gross operating margin | €378k | €85k | |
| Staff costs | €32k | €190k |
€342k
+13.3%
21-25
€62k
+201.8%
21-25
€275k
+18.3%
21-25
€3.58M
-6.2%
21-25
€1.06M
+6.2%
21-25
€519k
-4.7%
21-25
1
0.0%
21-25
€32k
-14.4%
21-25
€22k
+30.3%
21-25
€2.52M
-10.6%
21-25
€338k
+0.7%
21-25
€2.18M
-12.1%
21-25
2.53
-3.3%
21-25
2.53
-3.3%
21-25
29.7%
+13.2%
21-25
2.37
-15.8%
21-25
5.8%
+184.2%
21-25
1.7%
+221.6%
21-25
7.51
+32.2%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €342k | €302k | €188k | €311k | €395k |
| Net profit | €62k | €20k | €40k | €31k | €96k |
| Cash flow | €275k | €232k | €245k | €261k | €321k |
| Staff costs | €32k | €37k | €37k | €33k | €31k |
| Income taxes | €22k | €17k | €726 | - | €23k |
| Dividends | - | - | - | - | - |
| Total assets | €3.58M | €3.82M | €3.73M | €3.53M | €3.59M |
| Equity | €1.06M | €1.00M | €981k | €942k | €921k |
| Debt | €2.52M | €2.82M | €2.75M | €2.59M | €2.67M |
| of which ≤ 1y | €338k | €336k | €263k | €226k | €197k |
| of which > 1y | €2.18M | €2.48M | €2.48M | €2.36M | €2.46M |
| Working capital | €519k | €544k | €382k | €192k | €125k |
| Employees (FTE) | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 2.53 | 2.62 | 2.45 | 1.85 | 1.63 |
| Quick ratio | 2.53 | 2.62 | 2.45 | 1.85 | 1.63 |
| Working capital ratio | 14.5% | 14.2% | 10.2% | 5.4% | 3.5% |
| Solvency | 29.7% | 26.2% | 26.3% | 26.7% | 25.7% |
| Debt / equity | 2.37 | 2.81 | 2.80 | 2.75 | 2.90 |
| Long-term debt ratio | 2.05 | 2.48 | 2.53 | 2.51 | 2.67 |
| Interest coverage | 7.51 | 5.68 | 3.72 | 6.23 | 7.71 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 1.7% | 0.5% | 1.1% | 0.9% | 2.7% |
| ROE | 5.8% | 2.0% | 4.0% | 3.3% | 10.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €3.58M | €3.82M | €3.73M | €3.53M | €3.59M |
| Fixed assets | 21/28 | €2.73M | €2.94M | €3.09M | €3.11M | €3.26M |
| Tangible fixed assets | 22/27 | €2.73M | €2.94M | €3.09M | €3.11M | €3.26M |
| Current assets | 29/58 | €857k | €880k | €644k | €418k | €322k |
| Amounts receivable within one year | 40/41 | €654k | €870k | €631k | €356k | €242k |
| Cash & bank | 54/58 | €197k | €2k | €9k | €58k | €77k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €3.58M | €3.82M | €3.73M | €3.53M | €3.59M |
| Equity | 10/15 | €1.06M | €1.00M | €981k | €942k | €921k |
| Contributions / capital | 10/11 | €600k | €600k | €600k | €600k | €600k |
| Reserves | 13 | €8k | €8k | €8k | €8k | €8k |
| Accumulated profits (losses) | 14 | €456k | €394k | €374k | €334k | €313k |
| Amounts payable | 17/49 | €2.52M | €2.82M | €2.75M | €2.59M | €2.67M |
| Amounts payable after one year | 17 | €2.18M | €2.48M | €2.48M | €2.36M | €2.46M |
| Amounts payable within one year | 42/48 | €338k | €336k | €263k | €226k | €197k |
| Trade debts payable within one year | 44 | €44k | €49k | €41k | €34k | €47k |
| Income statement | ||||||
| Gross operating margin | 9900 | €378k | €343k | €230k | €364k | €430k |
| Operating result | 9901 | €129k | €90k | €-17k | €81k | €170k |
| Financial income | 75 | - | - | €108k | - | - |
| Financial charges | 65 | €46k | €53k | €51k | €50k | €51k |
| Result before taxes | 9903 | €84k | €37k | €40k | €31k | €119k |
| Income taxes | 67/77 | €22k | €17k | €726 | - | €23k |
| Net result for the period | 9904 | €62k | €20k | €40k | €31k | €96k |
| Result to be appropriated | 9905 | €62k | €20k | €40k | €31k | €96k |
Legal Structure
| NACE primary | Property management for co-owned buildings (syndics)(68321) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 20-10-2016 |
| Status | Active |
| Postal code | 3870 |
Establishment units
Veulen Estate
since 20162.278.554.447
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73089A0241/00N000 | Flanders | 879 m² | 1 · 38 m² | 2.5 m · 1 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €20k ▼48.4%
Net result drops to €20k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €1MEq €1.00M ▲2.1%
4 profitable years in a row build equity to €1.00M.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
21-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 52 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Property management for co-owned buildings (syndics)68321Real estate activities68322Activities of head offices; management consultancy activities70210Public relations and communication consultancy73300IT consultancy62020Computer consultancy and computer facilities management62200Renting and operating of own or leased non-residential real estate, excluding land68203Activities of head offices70100Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameNL | Veulen Estate |
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