UNITED GAMES
ActiveSummary
UNITED GAMES has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.48M and a net result of €1.58M. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 55% of 39 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+85
Solvency94▲+5
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €650k at 30 days acceptable
Liquidity ample (current ratio 2.61 against 2.03 in 2024; short-term debt: 28% and cash: 14.6% of total assets), and 30.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
69.1%
Return on assets
12.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 92
Relative position
BE, all sectors
reference
Gambling and betting activities (NACE 92)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
28 d late
2024
60 d late
2023
58 d late
2022
49 d late
2021
37 d early
2020
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory accounts
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€1.58M
2024 · €-19.16M
2018: €-3.94M
2019: €2.88M▲ +173% vs 2018highest in 8 years
2020: €-5.55M▼ -293% vs 2019
2021: €158k▲ +103% vs 2020
2022: €48k▼ -69.5% vs 2021
2023: €-16k▼ -133% vs 2022
2024: €-19.16M▼ -121579% vs 2023lowest in 8 years
2025: €1.58M▲ +108% vs 2024
2018 → 2025
Working capital
€5.53M▲ 46.2%
2024 · €3.78M
2018: €-2.08Mlowest in 8 years
2019: €11.34M▲ +645% vs 2018highest in 8 years
2020: €10.70M▼ -5.7% vs 2019
2021: €6.90M▼ -35.5% vs 2020
2022: €6.90M● +0.0% vs 2021
2023: €4.49M▼ -34.9% vs 2022
2024: €3.78M▼ -15.8% vs 2023
2025: €5.53M▲ +46.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€26.03M-€26.07M▲ 0.2%€26.06M▼ 0.1%€6.90M▼ 73.5%€8.48M▲ 22.9%
2021: €26.03M
2022: €26.07M▲ +0.2% vs 2021highest in 5 years
2023: €26.06M▼ -0.1% vs 2022
2024: €6.90M▼ -73.5% vs 2023lowest in 5 years
2025: €8.48M▲ +22.9% vs 2024
Operating result€-474k-€57k€32k▼ 44.3%€32k▲ 0.4%€2.01M▲ 6,231%
2021: €-474klowest in 5 years
2022: €57k▲ +112% vs 2021
2023: €32k▼ -44.3% vs 2022
2024: €32k▲ +0.4% vs 2023
2025: €2.01M▲ +6231% vs 2024highest in 5 years
Net result€158k-€48k▼ 69.5%€-16k€-19.16M▼ 121,579%€1.58M
2021: €158k
2022: €48k▼ -69.5% vs 2021
2023: €-16k▼ -133% vs 2022
2024: €-19.16M▼ -121579% vs 2023lowest in 5 years
2025: €1.58M▲ +108% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 6,231% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.27M
Fixed assets
€3.30M ▲ 1.4%
Current assets
€8.97M ▲ 20.0%
Equity and liabilities €12.27M
Equity
€8.48M ▲ 22.9%
Provisions
€28k =
Debt
€3.76M ▼ 1.0%
Debt's share of the balance-sheet total falls from 35.4% to 30.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3.03M▲
2024 · €89k
Cash flow
€2.60M▲
2024 · €-19.10M
Current ratio
2.61▲
2024 · 2.03
Debt to equity
0.44▼
2024 · 0.55
ROE
18.7%▲
2024 · -277.8%
ROA
12.9%▲
2024 · -178.7%
Interest coverage
25.38▲
2024 · 0.00
Debt ≤ 1 year
€3.43M▼
2024 · €3.69M
Income taxes
€376k▲
2024 · €254
Staff costs
€3.11M▲
2024 · €93k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€10.72M€12.27M▲
Fixed assets21/28€3.25M€3.30M▲
Intangible fixed assets21€1.91M€1.98M▲
Tangible fixed assets22/27€558k€541k▼
Plant, machinery and equipment23€424k€236k▼
Furniture and vehicles24€128k€93k▼
Other tangible fixed assets26€5k€212k▲
Financial fixed assets28€787k€777k▼
Current assets29/58€7.47M€8.97M▲
Amounts receivable after more than one year29€100k€478k▲
Other amounts receivable291€100k€478k▲
Amounts receivable within one year40/41€5.98M€6.60M▲
Trade receivables40€2.34M€1.51M▼
Other amounts receivable41€3.63M€5.09M▲
Cash at bank and in hand54/58€1.14M€1.80M▲
Deferred charges and accrued income490/1€251k€92k▼
Equity and liabilities
Total equity and liabilities10/49€10.72M€12.27M▲
Equity10/15€6.90M€8.48M▲
Contributions10/11€39.08M€39.08M=
Capital10€31.19M€31.19M=
Issued capital100€31.19M€31.19M=
Outside capital11€7.89M€7.89M=
Share premium1100/10€7.89M€7.89M=
Profit (loss) carried forward14€-32.18M€-30.60M▲
Provisions and deferred taxes16€28k€28k=
Provisions for liabilities and charges160/5€28k€28k=
Pensions and similar obligations160€28k€28k=
Amounts payable17/49€3.80M€3.76M▼
Amounts payable within one year42/48€3.69M€3.43M▼
Trade debts44€781k€108k▼
Suppliers440/4€781k€108k▼
Taxes, remuneration and social security45€1.11M€1.83M▲
Taxes450/3€733k€1.27M▲
Remuneration and social security454/9€378k€569k▲
Other amounts payable47/48€1.79M€1.49M▼
Accrued charges and deferred income492/3€112k€325k▲
Income statement
Code20242025
Non-recurring operating income76A-€15k
Remuneration, social security and pensions62€93k€3.11M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€57k€1.02M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€-595k
Other operating charges640/8€10k€4.29M▲
Non-recurring operating charges66A-€172k
Gross operating margin9900€192k€10.01M▲
Operating profit (loss)9901€32k€2.01M▲
Financial income75/76B€7k€66k▲
Recurring financial income75€7k€66k▲
Financial charges65/66B€19.20M€120k▼
Recurring financial charges65€19.20M€120k▼
Profit (loss) for the period before taxes9903€-19.16M€1.96M▲
Income taxes67/77€254€376k▲
Profit (loss) for the period9904€-19.16M€1.58M▲
Profit (loss) for the period to be appropriated9905€-19.16M€1.58M▲
Appropriation of the result
Profit (loss) to be appropriated9906€-32.18M€-30.60M▲
Profit (loss) brought forward from the previous period14P€-13.02M€-32.18M▼
Social balance
Average headcount (FTE)9087-31.7
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €1.51M | €1.43M | €1.06M | - | - | - |
| Other operating income74 | €1.51M | €1.43M | €1.06M | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €15k | - |
| Operating charges60/66A | €1.98M | €1.38M | €1.03M | - | - | - |
| Goods for resale, raw materials and consumables60 | - | €28 | - | - | - | - |
| Purchases600/8 | - | €28 | - | - | - | - |
| Services and other goods61 | €1.34M | €1.17M | €928k | - | - | - |
| Remuneration, social security and pensions62 | €181k | €147k | €42k | €93k | €3.11M | ▲ 3,256% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €135k | €41k | €51k | €57k | €1.02M | ▲ 1,690% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €-595k | - |
| Other operating charges640/8 | €106k | €20k | €10k | €10k | €4.29M | ▲ 41,255% |
| Non-recurring operating charges66A | €218k | - | - | - | €172k | - |
| Gross operating margin9900 | - | - | - | €192k | €10.01M | ▲ 5,117% |
| Operating profit (loss)9901 | €-474k | €57k | €32k | €32k | €2.01M | ▲ 6,231% |
| Financial income75/76B | €2.98M | €833 | €1k | €7k | €66k | ▲ 865% |
| Recurring financial income75 | €450k | €833 | €1k | €7k | €66k | ▲ 865% |
| Income from financial fixed assets750 | €450k | - | - | - | - | - |
| Income from current assets751 | - | €833 | €1k | - | - | - |
| Other financial income752/9 | €0 | €0 | - | - | - | - |
| Non-recurring financial income76B | €2.53M | - | - | - | - | - |
| Financial charges65/66B | €2.34M | €9k | €49k | €19.20M | €120k | ▼ 99.4% |
| Recurring financial charges65 | €2.34M | €9k | €49k | €19.20M | €120k | ▼ 99.4% |
| Debt charges650 | €2.29M | €6k | €47k | - | - | - |
| Other financial charges652/9 | €51k | €3k | €2k | - | - | - |
| Profit (loss) for the period before taxes9903 | €159k | €49k | €-16k | €-19.16M | €1.96M | ▲ 110% |
| Income taxes67/77 | €498 | €460 | €128 | €254 | €376k | ▲ 148,130% |
| Taxes670/3 | €498 | €460 | €128 | - | - | - |
| Profit (loss) for the period9904 | €158k | €48k | €-16k | €-19.16M | €1.58M | ▲ 108% |
| Profit (loss) for the period to be appropriated9905 | €158k | €48k | €-16k | €-19.16M | €1.58M | ▲ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €29.82M | €27.49M | €29.39M | €10.72M | €12.27M | ▲ 14.4% |
| Formation expenses20 | - | - | €0 | - | - | - |
| Fixed assets21/28 | €19.13M | €19.21M | €21.62M | €3.25M | €3.30M | ▲ 1.4% |
| Intangible fixed assets21 | €9k | €73k | €89k | €1.91M | €1.98M | ▲ 3.8% |
| Tangible fixed assets22/27 | €40k | €51k | €47k | €558k | €541k | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | €0 | €424k | €236k | ▼ 44.5% |
| Furniture and vehicles24 | €40k | €50k | €46k | €128k | €93k | ▼ 27.5% |
| Other tangible fixed assets26 | - | €884 | €698 | €5k | €212k | ▲ 4,028% |
| Financial fixed assets28 | €19.08M | €19.08M | €21.48M | €787k | €777k | ▼ 1.2% |
| Affiliated companies280/1 | €19.08M | €19.08M | €21.48M | - | - | - |
| Participating interests280 | €19.08M | €19.08M | €21.48M | - | - | - |
| Current assets29/58 | €10.69M | €8.29M | €7.77M | €7.47M | €8.97M | ▲ 20.0% |
| Amounts receivable after more than one year29 | - | €157k | €157k | €100k | €478k | ▲ 378% |
| Other amounts receivable291 | - | €157k | €157k | €100k | €478k | ▲ 378% |
| Amounts receivable within one year40/41 | €9.60M | €6.19M | €7.55M | €5.98M | €6.60M | ▲ 10.4% |
| Trade receivables40 | €536k | €260k | €305k | €2.34M | €1.51M | ▼ 35.8% |
| Other amounts receivable41 | €9.06M | €5.93M | €7.24M | €3.63M | €5.09M | ▲ 40.3% |
| Cash at bank and in hand54/58 | €1.04M | €1.93M | €56k | €1.14M | €1.80M | ▲ 57.4% |
| Deferred charges and accrued income490/1 | €51k | €10k | €6k | €251k | €92k | ▼ 63.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €29.82M | €27.49M | €29.39M | €10.72M | €12.27M | ▲ 14.4% |
| Equity10/15 | €26.03M | €26.07M | €26.06M | €6.90M | €8.48M | ▲ 22.9% |
| Contributions10/11 | €39.08M | €39.08M | €39.08M | €39.08M | €39.08M | = |
| Capital10 | €31.19M | €31.19M | €31.19M | €31.19M | €31.19M | = |
| Issued capital100 | €31.19M | €31.19M | €31.19M | €31.19M | €31.19M | = |
| Outside capital11 | €7.89M | €7.89M | €7.89M | €7.89M | €7.89M | = |
| Share premium1100/10 | €7.89M | €7.89M | €7.89M | €7.89M | €7.89M | = |
| Profit (loss) carried forward14 | €-13.05M | €-13.00M | €-13.02M | €-32.18M | €-30.60M | ▲ 4.9% |
| Provisions and deferred taxes16 | - | - | - | €28k | €28k | = |
| Provisions for liabilities and charges160/5 | - | - | - | €28k | €28k | = |
| Pensions and similar obligations160 | - | - | - | €28k | €28k | = |
| Amounts payable17/49 | €3.79M | €1.42M | €3.33M | €3.80M | €3.76M | ▼ 1.0% |
| Amounts payable within one year42/48 | €3.78M | €1.38M | €3.28M | €3.69M | €3.43M | ▼ 6.8% |
| Trade debts44 | €401k | €171k | €27k | €781k | €108k | ▼ 86.1% |
| Suppliers440/4 | €401k | €171k | €27k | €781k | €108k | ▼ 86.1% |
| Taxes, remuneration and social security45 | €254k | €10k | €19k | €1.11M | €1.83M | ▲ 65.2% |
| Taxes450/3 | €222k | €8k | €10k | €733k | €1.27M | ▲ 72.7% |
| Remuneration and social security454/9 | €31k | €2k | €9k | €378k | €569k | ▲ 50.6% |
| Other amounts payable47/48 | €3.13M | €1.20M | €3.23M | €1.79M | €1.49M | ▼ 16.9% |
| Accrued charges and deferred income492/3 | €8k | €38k | €52k | €112k | €325k | ▲ 190% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €158k | €48k | €-16k | €-19.16M | €1.58M | ▲ 108% |
| + Depreciation and write-downs630 | €135k | €41k | €51k | €57k | €1.02M | ▲ 1,690% |
| Operating cash flow (approximation) | €293k | €89k | €35k | €-19.10M | €2.60M | ▲ 114% |
| Investment in fixed assets (approximation) | - | €-116k | €-2.46M | €18.31M | €-1.07M | ▼ 106% |
| Change in cash | - | €886k | €-1.87M | €1.08M | €654k | ▼ 39.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
21-08
State Gazette act
RestructuringPermanent representative: Joeri Pascual-Madorran · Merger · Accounting effect4 facts ▸
State Gazette act
Restructuring
Permanent representative: Joeri Pascual-Madorran · Merger · Accounting effect4 facts ▸
- Merger, 05-08-2026
- Accounting effect, 01-10-2026
- Permanent representative, Joeri Pascual-Madorran
- Shareholding, enige aandeelhouder
21-08
State Gazette act
Appointments: UNITED GROUP NV (managing director) and PASCUAL INVEST BV (director)Permanent representative: Joeri Pascual-Madorran · Resignation: Joeri Pascual-Madorran (director) · Mandate term13 facts ▸
State Gazette act
Appointments: UNITED GROUP NV (managing director) and PASCUAL INVEST BV (director)
Permanent representative: Joeri Pascual-Madorran · Resignation: Joeri Pascual-Madorran (director) · Mandate term13 facts ▸
- General meeting, 11-06-2026
- Board meeting, 11-02-2026
- Director appointment, UNITED GROUP NV (managing director)
- Permanent representative, Joeri Pascual-Madorran
- Director resignation, Joeri Pascual-Madorran (director)
- Permanent representative, Joeri Pascual-Madorran
- Director appointment, PASCUAL INVEST BV (director)
- Mandate term, tot de jaarvergadering te houden met betrekking tot de goedkeuring van de jaarrekeningen afgesloten per 31 december 2030
- Mandate compensation, PASCUAL INVEST BV
- Board composition, PASCUAL INVEST BV (director)
- Board composition, INFISO NV (director)
- Board composition, Taleos CommV. (director)
- +1 further facts in this act
11-03
State Gazette act
Resignation: Carlos Pascual-Madorran (director)Appointment: UNITED GROUP NV (director) · Permanent representatives: Carlos Pascual-Madorran, Victor Bosquin and Nicolas Thomsin · Mandate compensation14 facts ▸
State Gazette act
Resignation: Carlos Pascual-Madorran (director)
Appointment: UNITED GROUP NV (director) · Permanent representatives: Carlos Pascual-Madorran, Victor Bosquin and Nicolas Thomsin · Mandate compensation14 facts ▸
- General meeting, 11-02-2026
- Director resignation, Carlos Pascual-Madorran (director)
- Director appointment, UNITED GROUP NV (director)
- Permanent representative, Carlos Pascual-Madorran
- Mandate compensation, UNITED GROUP NV
- Board composition, Joeri Pascual-Madorran (director)
- Board composition, INFISO NV (director)
- Permanent representative, Victor Bosquin
- Board composition, Taleos CommV. (director)
- Permanent representative, Nicolas Thomsin
- Board composition, UNITED GROUP NV (director)
- Board meeting, 11-02-2026
- +2 further facts in this act
2025
31-12
Financial
Back to profitnet €1.58M
Net result €1.58M after 2 loss-making years.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
06-02
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- Board meeting, 15-01-2025
- Registered-office move, 9000 Gent, Wondelgemkaai 15
31-01
State Gazette act
Purpose · RestructuringMerger · Accounting effect · Purpose change7 facts ▸
State Gazette act
Purpose · Restructuring
Merger · Accounting effect · Purpose change7 facts ▸
- General meeting, 31-12-2024
- Merger, fusion by absorption, 01-01-2025
- Merger, fusion by absorption, 01-01-2025
- Accounting effect, 01-01-2025
- Purpose change, De Vennootschap heeft tot voorwerp, zowel voor eigen rekening als voor rekening van derden en/of tussenpersonen: 1. de uitbating van alle soorten automatische s…
- Name change, UNITED GAMES
- Power of attorney, BDO Advisory
2024
31-12
Financial
Weakest financial yearnet €-19.16M
Net result drops to €-19.16M, the lowest in the series; recovery starts the following year.
22-11
State Gazette act
RestructuringMerger · Accounting effect · Purpose change6 facts ▸
State Gazette act
Restructuring
Merger · Accounting effect · Purpose change6 facts ▸
- Merger, fusie door overneming
- Merger, fusie door overneming
- Accounting effect, 01-01-2025
- Purpose change, De Vennootschap heeft tot voorwerp, zowel voor eigen rekening als voor rekening van derden en/of tussenpersonen: 1. de uitbating van alle soorten automatische s…
- Shareholding, enige aandeelhouder
- Shareholding, enige aandeelhouder
07-11
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated · 58 days late
01-10
State Gazette act
PurposePurpose change2 facts ▸
State Gazette act
Purpose
Purpose change2 facts ▸
- General meeting, 04-09-2024
- Purpose change, De Vennootschap heeft tot voorwerp, zowel voor eigen rekening als voor rekening van derden en/of tussenpersonen, in België of in het buitenland, alleen of in sa…
Show earlier events
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 58 days late
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated · 49 days late
18-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 49 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 6.00
Current ratio from 2.82 to 6.00; short-term debt falls from €3.78M to €1.38M.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
05-05
State Gazette act
Resignation: Corporate Advice (klasse a bestuurder)Permanent representatives: Prosius Judy Alycia and Victor Léopold Thérèse Raymond Bosquin · Appointment: Infiso SA (klasse a bestuurder) · Mandate compensation7 facts ▸
State Gazette act
Resignation: Corporate Advice (klasse a bestuurder)
Permanent representatives: Prosius Judy Alycia and Victor Léopold Thérèse Raymond Bosquin · Appointment: Infiso SA (klasse a bestuurder) · Mandate compensation7 facts ▸
- General meeting, 11-01-2022
- Director resignation, Corporate Advice (klasse a bestuurder)
- Permanent representative, Prosius Judy Alycia
- Director appointment, Infiso SA (klasse a bestuurder)
- Permanent representative, Victor Léopold Thérèse Raymond Bosquin
- Mandate compensation, Infiso SA
- Power of attorney, WGG
05-05
State Gazette act
Resignations: DC Advisory BV (director) and Jessko BV (director)Appointments: Carlos Pascual-Madorran, Joeri Pascual-Madorran and 2 others · Permanent representatives: Victor Léopold Thérèse Raymond Bosquin and Nicolas Thomsin · Mandate compensation13 facts ▸
State Gazette act
Resignations: DC Advisory BV (director) and Jessko BV (director)
Appointments: Carlos Pascual-Madorran, Joeri Pascual-Madorran and 2 others · Permanent representatives: Victor Léopold Thérèse Raymond Bosquin and Nicolas Thomsin · Mandate compensation13 facts ▸
- General meeting, 21-03-2022
- Director resignation, DC Advisory BV (director)
- Director resignation, Jessko BV (director)
- Director appointment, Carlos Pascual-Madorran (director)
- Mandate compensation, Carlos Pascual-Madorran
- Director appointment, Joeri Pascual-Madorran (director)
- Mandate compensation, Joeri Pascual-Madorran
- Director appointment, INFISO SA (director)
- Mandate compensation, INFISO SA
- Permanent representative, Victor Léopold Thérèse Raymond Bosquin
- Director appointment, TALEOS Comm. V. (director)
- Mandate compensation, TALEOS Comm. V.
- +1 further facts in this act
18-01
State Gazette act
Permanent representative: Charlier DominiqueRegistered-office move3 facts ▸
State Gazette act
Permanent representative: Charlier Dominique
Registered-office move3 facts ▸
- Board meeting, 20-10-2021
- Registered-office move, Industrielaan 28, 9320 Erembodegem
- Permanent representative, Charlier Dominique
06-01
State Gazette act
Capital & shares · Statutes amendmentApproval · Capital increase · Share issue9 facts ▸
State Gazette act
Capital & shares · Statutes amendment
Approval · Capital increase · Share issue9 facts ▸
- General meeting, 21-12-2021
- Approval, bijzonder verslag van het bestuursorgaan, inbreng in natura en wijziging rechten aandelen
- Approval, verslag van de commissaris, inbreng in natura
- Capital increase, €24.981.144
- Share issue, 24981144, 22-12-2021
- Statutes amendment
- Capital, €31.189.163
- Power of attorney, Allen & Overy LLP
- Share classes, 15194727, 15928269
2021
31-12
Financial
Back to profitnet €158k
Net result €158k after one loss-making year.
31-12
Financial
Equity above €25MEq €26.03M ▲670%
Equity rises from €3.38M to €26.03M.
13-08
State Gazette act
Appointment: KPMG Bedrijfsrevisoren BV/SRL (statutory auditor)Permanent representatives: Steven Veyt and Filip De Bock · Mandate compensation · Power of attorney6 facts ▸
State Gazette act
Appointment: KPMG Bedrijfsrevisoren BV/SRL (statutory auditor)
Permanent representatives: Steven Veyt and Filip De Bock · Mandate compensation · Power of attorney6 facts ▸
- General meeting, 03-06-2021
- Auditor appointment, KPMG Bedrijfsrevisoren BV/SRL (statutory auditor)
- Permanent representative, Steven Veyt
- Permanent representative, Filip De Bock
- Mandate compensation, KPMG Bedrijfsrevisoren BV/SRL
- Power of attorney
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-01
State Gazette act
Resignations: Griet Vandenheede BVBA (director and managing director) and Griet Vandenheede (director)Appointments: Jessko BVBA (director) and DC Advisory BV (director) · Permanent representatives: Julien Saey and Dominique Charlier · Power of attorney11 facts ▸
State Gazette act
Resignations: Griet Vandenheede BVBA (director and managing director) and Griet Vandenheede (director)
Appointments: Jessko BVBA (director) and DC Advisory BV (director) · Permanent representatives: Julien Saey and Dominique Charlier · Power of attorney11 facts ▸
- General meeting, 07-01-2020
- Director resignation, Griet Vandenheede BVBA (director and managing director)
- Director resignation, Griet Vandenheede (director)
- Director appointment, Jessko BVBA (director)
- Director appointment, DC Advisory BV (director)
- Permanent representative, Julien Saey
- Permanent representative, Dominique Charlier
- Power of attorney, Allen & Overy (Belgium) LLP
- Board meeting, 11-12-2019
- Director resignation, Griet Vandenheede (director)
- Director resignation, Griet Vandenheede BVBA (director and managing director)
2019
31-12
Financial
Back to profitnet €2.88M
Net result €2.88M after one loss-making year.
31-12
Financial
Liquidity times 22current ratio 15.06
Current ratio from 0.69 to 15.06; short-term debt falls from €6.75M to €807k.
31-12
Financial
Equity above €5MEq €6.44M ▲80.8%
Equity rises from €3.56M to €6.44M.
2018
27-08
State Gazette act
Reappointment: Ernst & Young Bedrijfsrevisoren CVBA (statutory auditor)Permanent representative: Paul Eelen · Mandate compensation4 facts ▸
State Gazette act
Reappointment: Ernst & Young Bedrijfsrevisoren CVBA (statutory auditor)
Permanent representative: Paul Eelen · Mandate compensation4 facts ▸
- General meeting, 05-06-2018
- Auditor reappointment, Ernst & Young Bedrijfsrevisoren CVBA
- Permanent representative, Paul Eelen
- Mandate compensation, Ernst & Young Bedrijfsrevisoren CVBA
2017
03-11
State Gazette act
Resignation: Geert Rossie (director)Appointment: Griet Vandenheede (director) · Mandate compensation4 facts ▸
State Gazette act
Resignation: Geert Rossie (director)
Appointment: Griet Vandenheede (director) · Mandate compensation4 facts ▸
- General meeting, 06/10/2017
- Director resignation, Geert Rossie (director)
- Director appointment, Griet Vandenheede (director)
- Mandate compensation, Griet Vandenheede
14-02
State Gazette act
Resignations: DESMET Ronny Mario (director) and VAN der HOEVEN Peter Michel Maria (director)Appointments: Stichting naar Nederlands recht "Corporate Advice" (klasse a bestuurder) and Griet Vandenheede (director) · Permanent representatives: PORSIUS Judy Alycia and VANDENHEEDE Griet Katleen · Registered-office move11 facts ▸
State Gazette act
Resignations: DESMET Ronny Mario (director) and VAN der HOEVEN Peter Michel Maria (director)
Appointments: Stichting naar Nederlands recht "Corporate Advice" (klasse a bestuurder) and Griet Vandenheede (director) · Permanent representatives: PORSIUS Judy Alycia and VANDENHEEDE Griet Katleen · Registered-office move11 facts ▸
- General meeting, 20-12-2016
- Director resignation, DESMET Ronny Mario (director)
- Director resignation, VAN der HOEVEN Peter Michel Maria (director)
- Director appointment, Stichting naar Nederlands recht "Corporate Advice" (klasse a bestuurder)
- Permanent representative, PORSIUS Judy Alycia
- Director appointment, Griet Vandenheede (director)
- Permanent representative, VANDENHEEDE Griet Katleen
- Director appointment, Griet Vandenheede (managing director)
- Registered-office move, 9320 Erembodegem, Industrielaan 31
- Statutes amendment
- General meeting, Goedkeuring van de voorgenomen wijzigingen van de statuten en ontslagen in dochtervennootschappen overeenkomstig het escalatiemechanisme in de aandeelhoudersove…
2016
10-05
State Gazette act
Resignation: Macofin BVBA (afgevaardigde tot het dagelijks bestuur)Appointment: Griet Vandenheede BVBA (afgevaardigde tot het dagelijks bestuur) · Permanent representative: Griet Vandenheede · Power of attorney9 facts ▸
State Gazette act
Resignation: Macofin BVBA (afgevaardigde tot het dagelijks bestuur)
Appointment: Griet Vandenheede BVBA (afgevaardigde tot het dagelijks bestuur) · Permanent representative: Griet Vandenheede · Power of attorney9 facts ▸
- General meeting, 19-04-2016
- Director resignation, Macofin BVBA (afgevaardigde tot het dagelijks bestuur)
- Power of attorney, Allen & Overy LLP
- Director appointment, Griet Vandenheede BVBA (afgevaardigde tot het dagelijks bestuur)
- Permanent representative, Griet Vandenheede
- Power of attorney, Allen & Overy LLP
- Approval, Goedkeuring van de voorgenomen verrichtingen overeenkomstig het Escalatiemechanisme, waaronder het ontslag van Santinvest NV als bestuurder van Naco NV en Nobil…
- Power of attorney, Elke bestuurder van de Vennootschap
- Power of attorney, Elke bestuurder van de Vennootschap
19-02
State Gazette act
Appointment: Ernst & Young Bedrijfsrevisoren BV ow. CVBA (statutory auditor)Permanent representative: Paul Eelen · Mandate compensation · Power of attorney7 facts ▸
State Gazette act
Appointment: Ernst & Young Bedrijfsrevisoren BV ow. CVBA (statutory auditor)
Permanent representative: Paul Eelen · Mandate compensation · Power of attorney7 facts ▸
- General meeting, 24-08-2015
- General meeting, 30-10-2015
- General meeting, 17-12-2015
- Auditor appointment, Ernst & Young Bedrijfsrevisoren BV ow. CVBA (statutory auditor)
- Permanent representative, Paul Eelen
- Mandate compensation, Ernst & Young Bedrijfsrevisoren BV ow. CVBA
- Power of attorney, Allen & Overy LLP
2015
24-09
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- General meeting, 11-08-2015
- Registered-office move, 9320 Erembodegem, Industrielaan 31
09-09
State Gazette act
Resignation: Geert Rossie (gedelegeerde tot het dagelijks bestuur)Appointment: Macofin (afgevaardigde tot het dagelijks bestuur) · Permanent representative: Johnny Verschaeren4 facts ▸
State Gazette act
Resignation: Geert Rossie (gedelegeerde tot het dagelijks bestuur)
Appointment: Macofin (afgevaardigde tot het dagelijks bestuur) · Permanent representative: Johnny Verschaeren4 facts ▸
- General meeting, 05-08-2015
- Director resignation, Geert Rossie (gedelegeerde tot het dagelijks bestuur)
- Director appointment, Macofin (afgevaardigde tot het dagelijks bestuur)
- Permanent representative, Johnny Verschaeren
21-08
State Gazette act
Resignations: Chanceco B.V. (director) and MarGates BVBA (director)Appointments: Peter Van der hoeven, Ronny Desmet and Geert Rossie · Director discharge10 facts ▸
State Gazette act
Resignations: Chanceco B.V. (director) and MarGates BVBA (director)
Appointments: Peter Van der hoeven, Ronny Desmet and Geert Rossie · Director discharge10 facts ▸
- General meeting, 30-06-2015
- Director resignation, Chanceco B.V. (director)
- Director resignation, MarGates BVBA (director)
- Director discharge, Chanceco B.V.
- Director discharge, MarGates BVBA
- Director appointment, Peter Van der hoeven (director)
- Director appointment, Ronny Desmet (director)
- Director appointment, Geert Rossie (director)
- Board meeting, 30-06-2015
- Director appointment, Geert Rossie (gedelegeerde tot het dagelijks bestuur)
28-07
State Gazette act
Registered office · Capital & shares · Statutes amendmentApproval · Capital increase · Share issue11 facts ▸
State Gazette act
Registered office · Capital & shares · Statutes amendment
Approval · Capital increase · Share issue11 facts ▸
- General meeting, 01-07-2015
- Approval, 01-07-2015
- Capital increase, €6.146.019
- Share issue, identiek aan de bestaande aandelen van dat type en met inreging vanaf de oprichting van de vennootschap, aandelen
- Share issue, winstbewijzen, 7887981
- Registered-office move, 9450 Haaltert, Stationsstraat 162a
- Statutes amendment
- Capital, €6.208.019
- Power of attorney, Allen & Overy LLP
- Share class creation
- Representation, in rechte en ten aanzien van derden, één Bestuurder en één vertegenwoordiger van Chanceco B.V., samen handelend
17-07
State Gazette act
MiscellaneousChange of control2 facts ▸
State Gazette act
Miscellaneous
Change of control2 facts ▸
- General meeting, 30-06-2015
- Change of control, wijziging van controle
02-04
State Gazette act
IncorporationAppointments: Chanceco B.V. (director) and MARGATES (director) · Permanent representatives: Waterland Private Equity Fund III B.V., Waterland Private Equity Investments B.V. and 2 others · Founder15 facts ▸
State Gazette act
Incorporation
Appointments: Chanceco B.V. (director) and MARGATES (director) · Permanent representatives: Waterland Private Equity Fund III B.V., Waterland Private Equity Investments B.V. and 2 others · Founder15 facts ▸
- Incorporation, 30-03-2015
- Founder, Chanceco B.V.
- Founding capital, €62.000
- Bank account, Belfius bank
- Director appointment, Chanceco B.V. (director)
- Director appointment, MARGATES (director)
- Mandate compensation, Chanceco B.V.
- Mandate compensation, MARGATES
- Permanent representative, Waterland Private Equity Fund III B.V.
- Permanent representative, Waterland Private Equity Investments B.V.
- Permanent representative, DOUZE Maurice Alexander
- Permanent representative, VAN CAUWENBERGHE Cédric Guillaume Prosper Martin
- +3 further facts in this act
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
24 of 24 acts read
Directors · office · real estate
Directors
9 directors, no change since 2026
PASCUAL INVEST
CurrentDirector · since 08-06-2026 · Private limited company
UNITED GROUP
CurrentDirector · since 01-02-2026 · Public limited company · perm. rep.: Carlos Pascual-Madorran
Taleos
CurrentDirector · since 21-03-2022 · Limited partnership · perm. rep.: Nicolas Thomsin
INFISO
CurrentDirector · since 23-12-2021 · Public limited company · perm. rep.: Victor Léopold Thérèse Raymond Bosquin
Jessko BVBA
Not recently confirmedDirector · since 07-01-2020 · Legal entity · perm. rep.: Julien Saey
Griet Vandenheede
Not recently confirmedDirector · since 19-04-2016 · Private limited company · perm. rep.: VANDENHEEDE Griet Katleen
3 other directors
Stichting naar Nederlands recht Corporate Advice
Not recently confirmedKlasse a bestuurder · since 20-12-2016 · Legal entity · perm. rep.: PORSIUS Judy Alycia
Ronny Desmet
Not recently confirmedDirector · since 30-06-2015
MARGATES
Not recently confirmedDirector · since 30-03-2015 · Limited partnership · perm. rep.: VAN CAUWENBERGHE Cédric Guillaume Prosper Martin
08-06-2026
PASCUAL INVEST: Appointed as Director
08-06-2026
Joeri Pascual-Madorran: Resigned as Director
01-02-2026
UNITED GROUP: Appointed as Director
01-02-2026
UNITED GROUP: Appointed as Managing director
01-02-2026
Carlos Pascual-Madorran: Resigned as Director
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2015
Ground area
3,685 m²
Building footprint
2,252 m²
Parcel 44813S0395/00P003, Flanders. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
UNITED GAMES
since 20152.243.321.572
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44813S0395/00P003 | Flanders | 3,685 m² | 1 · 2,252 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| KPMG Réviseurs d'EntreprisesCurrent Statutory auditor | 03-06-2021 → present |
Show 1 earlier auditors
| Ernst et Young Reviseurs d'Entreprises Auditor · represented by Paul Eelen succeeded by KPMG Réviseurs d'Entreprises in 2021 | 17-12-2015 → 03-06-2021 |
Articles of association
Purpose
1. het oprichten van, het deelnemen in publieke of private inrichtingen... 2. het voeren van beheer over... 3. het aankopen, het verkopen... onroerende goederen... 4. het uitvoeren…
Full purpose
1. het oprichten van, het deelnemen in publieke of private inrichtingen... 2. het voeren van beheer over... 3. het aankopen, het verkopen... onroerende goederen... 4. het uitvoeren van alle financieële verrichtingen...
Structure & network
Connections & network
6 connected companiesThis company
Company
Director
Shareholding
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Linked via shared directors
Shared director
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Shared director
→
Shared corporate director
→
Shared corporate director
→
Show 2 more companies with a shared director
Shared corporate director
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Shared corporate director
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Acquisitions and mergers
3 transactionsCapital and shareholders
Shareholders according to the acts
After the capital increase
act of 28-07-2015 ↗
- Chanceco 4,838,869 EUR
- Mieke Michiels 620,492 EUR
- Veerle Michiels 620,491 EUR
- Tom De Clercq 66,167 EUR
At incorporation
act of 02-04-2015 ↗
- Chanceco B.V. sole founder · 100% at incorporation
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 06-01-2022 Capital increase of 24,981,144 EUR · to 31,189,163 EUR · 24,981,144 new shares · in kind
- 28-07-2015 Capital increase of 6,146,019 EUR · to 6,208,019 EUR · in kind
- 02-04-2015 Incorporation · 62,000 EUR · 62,000 shares
Recognitions · licences · registrations
Legal Entity Identifier
549300UNUWCRX5F96O14
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Of 505 companies in sector 92000 we hold annual accounts for 302. 78 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded31-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
92000Gambling and betting activities
93293Sports, amusement and recreation activities
Scores and ratios are computed by Checked and are not a credit decision.