YUST Development Brussels
ActiveSummary
The computed 12-month bankruptcy probability of YUST Development Brussels is 1.6% (moderate). The 2025 annual accounts show negative equity (-€96,944) and a net result of -€187,717. Equity has been shrinking by about 102% per year since 2023. Its solvency ranks better than 7% of 5,796 sector peers (NACE 68, financial year 2025). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 31-05-2022 Normal situation
- Registered office
- 45 active companies are registered at this address 2 started in the 12 months before. Source: KBO register, as of 2 November 2026.
- Activity
- Real estate agency activities NACE 68310and 2 others
- Establishment unit
- 2.337.493.330 2018 Antwerpen, since 31-05-2022
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- CLAES D'ERCKENTEEL Louis Stephane Christine MarieDirector · since 31-05-2022
- Louis Claes d'ErckenteelDirector · since 31-05-2022
- Stephane VerbeeckDirector · since 31-05-2022
- YUST Group100%· score 812025 annual accounts of YUST Group
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.6%
- Gross margin
- -€15,160
- Loss
- €187,717
- ▲ 58×
- Equity
- -€96,944
- Total assets
- €544,491
- ▼ 95.8%
- Negative equity on 31-12-2025
Score breakdownraises risk1 change of registered office in 24 monthsLoss of €187,717, the second in a row (financial year 2025)lowers riskSector: Real estate activities (NACE 68)Size: total assets €544,491Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
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, micro). It does better than 11% of them on solvency, 10% on liquidity, 4% on profitability and 3% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 1 day before 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)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is a loss of €16,279, after a profit of €3,758 in 2024. It is the lowest result since 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, return on assets (ROA) and staff (FTE).
- 2025 Net result -5,728% on 2024. The accounts now follow the full format, last year the abbreviated format.
Securities and guarantees
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Mortgages, amount registered | €25,000 | €25,000 | - |
| Mortgage mandates | €7.9m | €7.9m | - |
| Carrying value of the mortgaged assets | €9.8m | €9.8m | - |
| Pledge on the business | €7.9m | €7.9m | - |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,863 | €0 | - | - |
| Other operating charges640/8 | €1,565 | €985 | €1,118 | ▲ 13.5% |
| Gross operating margin9900 | €7,093 | €4,743 | -€15,160 | - |
| Operating profit (loss)9901 | €3,665 | €3,758 | -€16,279 | - |
| Financial charges65/66B | €9,671 | €6,978 | €171,439 | ▲ 25× |
| Recurring financial charges65 | €9,671 | €6,978 | €171,439 | ▲ 25× |
| Profit (loss) for the period before taxes9903 | -€6,006 | -€3,221 | -€187,717 | ▼ 5,728% |
| Profit (loss) for the period9904 | -€6,006 | -€3,221 | -€187,717 | ▼ 5,728% |
| Profit (loss) for the period to be appropriated9905 | -€6,006 | -€3,221 | -€187,717 | ▼ 5,728% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €11.9m | €12.9m | €0.5m | ▼ 95.8% |
| Current assets29/58 | €11.9m | €12.9m | €0.5m | ▼ 95.8% |
| Stocks and contracts in progress3 | €11.7m | €12.8m | €0.01m | ▼ 99.9% |
| Stocks30/36 | €9.8m | €9.8m | €0.01m | ▼ 99.9% |
| Contracts in progress37 | €2.0m | €3.1m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €0.03m | €0.01m | €0.5m | ▲ 34× |
| Trade receivables40 | €0.003m | €0 | - | - |
| Other amounts receivable41 | €0.02m | €0.01m | €0.5m | ▲ 34× |
| Cash at bank and in hand54/58 | €0.1m | €0.02m | €0.04m | ▲ 94.1% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €11.9m | €12.9m | €0.5m | ▼ 95.8% |
| Equity10/15 | €0.09m | €0.09m | -€0.1m | - |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | = |
| Capital10 | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.006m | -€0.009m | -€0.2m | ▼ 2,034% |
| Amounts payable17/49 | €11.8m | €12.8m | €0.6m | ▼ 95.0% |
| Amounts payable after more than one year17 | €11.7m | €12.7m | €0 | ▼ 100% |
| Financial debts170/4 | €11.7m | €12.7m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.04m | €0.06m | €0.6m | ▲ 966% |
| Trade debts44 | €0.04m | €0.06m | €0.6m | ▲ 890% |
| Suppliers440/4 | €0.04m | €0.06m | €0.6m | ▲ 890% |
| Taxes, remuneration and social security45 | - | - | €0.05m | - |
| Taxes450/3 | - | - | €0.05m | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,006 | -€3,221 | -€187,717 | ▼ 5,728% |
| + Depreciation and write-downs630 | €1,863 | €0 | - | - |
| Operating cash flow (approximation) | -€4,143 | -€3,221 | -€187,717 | ▼ 5,728% |
| Change in cash | - | -€105,091 | €18,242 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 490 companies had the same profile as YUST Development Brussels has now. Two years later, 6.7% had gone bankrupt and 88.8% were still going.
- Small
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of YUST Development Brussels itself: 1.6% within 12 months.
Test of the method
The method was tested on the 497,446 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 490 companies, not a prediction for YUST Development Brussels. 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.
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerChain of control
- YUST Group
- YUST Development Brussels
Owners 1
- YUST GroupparentSourceaccounts YUST Group 2025Equity €8.3m Profit of €224,585 in 2025 (loss of €394,663 in 2024) Checked score 81100%
Capital transactions
- YUST GROUP (BE 0716.704.789) 50 shares (50%) · €50,000
- KREST REAL ESTATE INVESTMENTS (BE 0834.802.289) 50 shares (50%) · €50,000
- 02-06-2022 Incorporation · €100,000 · 100 shares
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| CLAES D'ERCKENTEEL Louis Stephane Christine Marie |
|
| VERBEECK Stephane Clément Theophile |
|
| Louis Claes d'Erckenteel |
|
| Stephane Verbeeck |
|
| Claude Kandiyoti |
|
| Emilie Rousseaux |
|
| KANDIYOTI Claude Isaac |
|
| ROUSSEAUX Emilie Jehanne Marthe Régine |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Alle handelingen nodig of dienstig tot verwezenlijking voorwerp behoudens waarvoor volgens wet of statuten alleen algemene vergadering…”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 02-06-2022 (in Dutch)
Network & group
Companies at the same address
44 other companies- Bredestraat SPV Registered office · since 2026 1037354226
- V Brussels Registered office · since 2026 1035575859
- YUST Real Estate Cologne Registered office · since 2025 1025751739
- Bino Capital Establishment · since 2025 1024291096
- Vervaeke, Leen (sole trader) Establishment · since 2025 0847682307
- MABECON Registered office · since 2024 0421581301
- A place Registered office · since 2024 1012246369
- DPG FAMILY FOUNDATION Registered office · since 2024 1011648533
- BINOFIN Registered office · since 2024 1010960724
- BELGOCATERING Establishment · since 2024 0461784435
Connections & network
4 current directorsThe network starts from the directors of YUST Development Brussels. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
27-11
Gazette deed
Registered office moved within Antwerpen2 points ▸
- Board meeting, 21-10-2025
- Registered-office move, Mediaplein 1,2018 Antwerpen
27-11
Gazette deed
Resignations: Claude Kandiyoti (director) and Emilie Rousseaux (director)Reappointments: Louis Claes d'Erckenteel (director) and Stephane Verbeeck (director)5 points ▸
- General meeting, 03-06-2025
- Director resignation, Claude Kandiyoti (director)
- Director resignation, Emilie Rousseaux (director)
- Director reappointment, Louis Claes d'Erckenteel (director)
- Director reappointment, Stephane Verbeeck (director)
02-06
Gazette deed
IncorporationStarting capital €100,000 · Appointments: VERBEECK Stephane Clément Theophile, CLAES D'ERCKENTEEL Louis Stephane Christine Marie and 2 others · Founder · Registered office clause11 points ▸
- Incorporation, “YUST Development Brussels” (deed in Dutch)
- Founder, YUST GROUP
- Founder, KREST REAL ESTATE INVESTMENTS
- Registered office clause, 2600, “Vijfhoekstraat 24” (deed in Dutch)
- Board rule, 4, “eerste leden bestuursorgaan-benoeming” (deed in Dutch)
- Director appointment, VERBEECK Stephane Clément Theophile (director)
- Director appointment, CLAES D'ERCKENTEEL Louis Stephane Christine Marie (director)
- Director appointment, KANDIYOTI Claude Isaac (director)
- Director appointment, ROUSSEAUX Emilie Jehanne Marthe Régine (director)
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten ondernomen door comparanten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Founding capital, €100,000
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
On 31 May 2022, YUST Development Brussels was incorporated as a public limited company by YUST GROUP and KREST REAL ESTATE INVESTMENTS, with a starting capital of €100,000.12 In 2025 the registered office moved to Antwerpen.3 Of the 4 current board members, 4 have served since 2022.4 Total assets went from €11.9m in 2023 to €544,491 in 2025.5
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- 2600 Antwerpen (Berchem) until 21-10-2025 · act of 27-11-2025
Activities
NACEBEL 2025Codes under NACEBEL 2008
11 activities
- Hetaanleggen,hetoordeelkundiguitbouwenenbeherenvaneenonroerendvermogen
- Alleverrichtingenmetbetrekkingtotonroerende goederenenzakelijkerechten,zoalsdeaankoop enverkoop,debouw,deverbouwing,debinnenhuisinrichtingen decoratie,dehuurenverhuur,deruil,deverkavelingen,inhetalgemeen,alleverrichtingendierechtstreeksofonrechtstreeksbetrekkinghebbenophetbeheerofophetproductiefmakenvanonroerende goederenofzakelijkerechten
- Hetactiefuitoefenenvandepromotieenprojectontwikkelingvanalle mogelijkeonroerende goederen
- Hetaanleggen,hetoordeelkundiguitbouwenenbeherenvaneenroerendvermogen
- Alleverrichtingenmetbetrekkingtotroerende goederenenrechten,vanwelkeaardook,zoalsdeaan-en verkoop,dehuur-ofverhuur,deruil
- Inhetbijzonderhetbeheeren devalorisatievanalle verhandelbarewaardepapieren,aandelen,obligaties,staatsfondsen
- Bijwijzevaninbrenginspeciënofinnatura,vanfusie,inschrijving,deelneming,financiëletussenkomstof opeenanderewijze,eenaandeelnemeninallebestaandeofopterichten vennootschappenofbedrijven,inBelgiëofinhetbuitenland,waarvanhetvoorwerpidentiek,gelijkaardigofverwantis methethare,ofvanaardisdeuitoefeningvanhaarvoorwerptebevorderen
- Hetuitvoerenenlaten uitvoerenvanbouwwerkenvooreigenrekeningenvoorrekeningvanderden
- Destudie,financieringenontwikkelingvanroerendeenonroerendeprojecten
- Debemiddelingvanfinancieringen,kredieten,leningen,hypotheken,verkopingenenverzekeringen
- Hetaanvaardenenuitoefenenvanallemandatenenopdrachten,hetuitvoerenvanalleonderzoeken enstudiesenhetverstrekkenvanalleadviezenenhetverlenenvanallebijstandinzakedeinrichting,deplanningenhetbeheervanondernemingenenbedrijveneninverbandmetdebouwnijverheidenaanverwante
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0786.689.202
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11808H1130/00L008 | Flanders | 1,898 m² | 1 · 1,898 m² | 16.8 m · 3 |