Result
€116,934 ▲ 497%
The result rose in 2025: mostly from a one-off income of €486,865.
ZUIDBURG
Lifetime
19 annual accounts with figures on one time axispeak €3.7m (2019)
€406,055▲ 135%
lowest -€588,034 (2017)
€116,934▲ 497%
peak €1.5m (2019)
€1.2m▲ 10.5%
€2.1m▼ 30.0%
peak 0 FTE (2024)
0 FTE
Board4 names since 2014
1 directorErwin VERMEESCH
Owners6 names in the annual accounts
99%Zuidco
Documentsfilings and deeds
31-08-202631 days late
2025abbreviated format
Gross margin from €173,102 to €406,055Result from €19,586 to €116,934Debts from €3.0m to €2.1mCash from €22,004 to €93,118
Key points
from the 2025 annual accountsTurnover
≈ €720,000 estimated
The abbreviated format states no turnover.
Investments
€283,150 6.5 × depreciation
Green is investment, beige is depreciation.
Liquidity
53.80 was 5.66 in 2024
Short-term debts fell from €633,128 to €55,180.
Filings
19 annual accounts since 2007
Six of the last ten came late. The 2024 accounts came latest: 74 days after the end of the period.
At the same address
19 companies
Checked score
94
Excellent
Financially stronger than 63% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: 0.1%▲ +0.1 percentage points vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.2%▲ +0.1 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.3%▲ +0.1 percentage points vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.4%▲ +0.1 percentage points vs 05-2026
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.7%▲ +0.3 percentage points vs 07-2026highest value
09-2026: 0.1%▼ -0.6 percentage points vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Last filed accounts filed 31 days late; 2 of the last 3 accounts late
Liquidity: current ratio 53.80, cash €93,118
lowers risk
Size: total assets €3.3m
Figures for financial year 2025 (filed on 01-09-2026)
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, small). It does better than 57% of them on solvency, 76% on liquidity, 45% on profitability and 73% on growth.
The bankruptcy probability was computed on 08-11-2026 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).
Comparable companies, two years later
In July 2024, 14,766 companies had the same profile as ZUIDBURG has now. Each dot stands for 37 companies, two years later.
96.2%
were still trading
3.5%
stopped another way
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ZUIDBURG itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 14,766 companies, not a prediction for ZUIDBURG. 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.
Credit verdict
Credit of up to €110,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 53.8 (5.66 in 2024), above the usual 1.5. Short-term debt is 1.7% and cash 2.8% of total assets. However, 62.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.2m
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
74 days late
2023
30 days late
2022
31 days late
2021
30 days early
2020
27 days late
2019
34 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 28 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.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (4 of the last 5 accounts filed within 43 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Zuidco 99%score 95equity €1.5m (2025) · 2025 annual accounts of Zuidco
- Piet Van Waesannual accounts 2024
Recent changes
Resignation: CAPIJU (director)
Gazette deed
2 directors resigning
Zuidco BV and Studios VOF · Permanent representative: Piet Van Waes · Director discharge: Zuidco BV · General meeting of 23-01-2024 · Gazette deed
Changes of role: CAPIJU, STUDIOS, Erwin VERMEESCH and ZUIDCO
Permanent representatives: Dirk Van Waes and Piet Van Waes · Legal-form conversion: from coöperatieve vennootschap met beperkte aansprakelijkheid to private limited company · General meeting of 02-09-2022 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0879518992
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ZUIDBURG Nieuwpoort | €3.3m | €406,055 | 37.4% | 0 |
| CULTIVERDE Oostrozebeke | €2.6m | €463,611 | 33.6% | 0 |
| VANHALME Brasschaat | €2.8m | €347,556 | 24.6% | 0 |
| VS WOONPROJECTEN Hasselt | €3.2m | €253,008 | 16.5% | 0 |
| ARCHIPLUS Assesse | €4.2m | €491,087 | 25.9% | 0 |
| AREUM Zulte | €4.3m | €465,037 | 67.4% | 0 |
| LA MER BOUW Roeselare | €3.3m | €374,661 | 8.0% | 0 |
These companies have the same main activity as ZUIDBURG: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €2.6m and €4.3m, founded between 2005 and 2010.
Official details
Source: KBO- Status
- Active since 21-02-2006Normal situation
- Registered office
- 21 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Development of residential building projectsNACE 68121
- Establishment unit
- 2.152.033.1898620 Nieuwpoort, since 21-02-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Insights on ZUIDBURG
ZUIDBURG files the abbreviated format. That format states no turnover. The gross margin rose from -€9,145 in 2007 to €406,055 in 2025.
Zuidco holds 99% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ZUIDBURG
- What is the company number of ZUIDBURG?
- The company number of ZUIDBURG is 0879.518.992. The VAT number is the same number with BE in front: BE 0879.518.992.
- Where is ZUIDBURG based?
- The registered office is at Albert I laan 234, 8620 Nieuwpoort.Company details
- What does ZUIDBURG do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of ZUIDBURG?
- ZUIDBURG is a private limited company (BV).
- When was ZUIDBURG founded?
- ZUIDBURG was founded on 21-02-2006.
- Is ZUIDBURG still active?
- Yes, ZUIDBURG is an active enterprise in the KBO register.
- What is the turnover of ZUIDBURG?
- The turnover in financial year 2025 is ≈ €720,000. This figure is estimated from the gross margin of €406,055 and 40 comparable companies (NACE 681). It probably lies between €540,000 and €1.2m.Financials
- Is ZUIDBURG profitable?
- In financial year 2025, ZUIDBURG made a profit of €116,934.
- Where can I find the annual accounts of ZUIDBURG?
- ZUIDBURG filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ZUIDBURG due?
- ZUIDBURG must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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