ASTY MOULIN PROPERTIES

Active

Public limited companyfounded 20223 yrs activeVredestraat 53, 8790 Waregem, BelgiumKBO/BCE: BE 0795.308.839

Summary

The computed 12-month bankruptcy probability of ASTY MOULIN PROPERTIES is 2.7% (moderate). The annual accounts of ASTY MOULIN PROPERTIES for fiscal year 2024 show a net loss of 87% of the equity at the start of that year. The 2024 annual accounts show equity of €810 and a net result of €-6k. The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

35 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability37=

Solvency25=

Growth58

Track record94

Bankruptcy probability, 12 months

2.7% Moderate

0%0.5%1.5%4%10%≥ 25%

No publishable credit limit; credit only on tighter terms

Net loss of at least half of total assets or of the equity at the start of the financial year.

Liquidity short (current ratio 0.16 against 0.01 in 2023; short-term debt: 99.9% and cash: 15.7% of total assets), and 100% of the assets are financed with debt.

How do we compute the score and the probability?

Credit check for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

No NACE activity registered

No NACE activity is registered in the KBO, which is more common among companies that later fail.

KBO · activities

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

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 2024

Solvency, return and age of the figures

Solvency

Return on assets

Age of the figures

21 mo

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

2324

2023 to 2024 · latest year €-6k

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-08-2025, 8 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 · 2 filings

Deviation from the deadline

2025

not confirmed

2024

8 d late

2023

19 d late

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-6k▲ 6.7%

2023 · €-6k

2023: €-6k

2023 → 2024

Working capital

€-12.71M▼ 533%

2023 · €-2.01M

2023: €-2.01M

2023 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20232024Trend

Equity€6k-€810▼ 87.4%

Operating result€-6k-€-5k▲ 9.5%

Net result€-6k-€-6k▲ 6.7%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €5k in 2024 against €6k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €15.10M

84.3%

15.7%

Fixed assets €12.73M ▲ 532%

Current assets €2.37M ▲ 8,138%

Equity and liabilities €15.10M

100.0%

Equity €810 ▼ 87.4%

Debt €15.10M ▲ 641%

Debt's share of the balance-sheet total rises from 99.7% to 100.0%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

Current ratio

0.16▲

2023 · 0.01

ROA

0.0%▲

2023 · -0.3%

Debt ≤ 1 year

€15.08M▲

2023 · €2.04M

Equity ratios withheld: equity of €810 is too small for a meaningful ratio.

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 · 2024 against 2023 · 36 lines

Balance sheet Code20232024

Assets

Total assets20/58€2.04M€15.10M▲

Fixed assets21/28€2.02M€12.73M▲

Tangible fixed assets22/27€2.02M€12.73M▲

Land and buildings22€1.31M€1.31M▲

Assets under construction and advance payments27€710k€11.42M▲

Current assets29/58€29k€2.37M▲

Amounts receivable after more than one year29-€85

Trade receivables290-€85

Amounts receivable within one year40/41€146€0▼

Other amounts receivable41€146€0▼

Cash at bank and in hand54/58€28k€2.37M▲

Deferred charges and accrued income490/1€164€0▼

Equity and liabilities

Total equity and liabilities10/49€2.04M€15.10M▲

Equity10/15€6k€810▼

Contributions10/11€13k€13k=

Capital10€13k€13k=

Issued capital100€13k€13k=

Profit (loss) carried forward14€-6k€-12k▼

Amounts payable17/49€2.04M€15.10M▲

Amounts payable within one year42/48€2.04M€15.08M▲

Financial debts43-€8.66M

Credit institutions430/8-€8.66M

Trade debts44€638k€4.86M▲

Suppliers440/4€638k€4.86M▲

Other amounts payable47/48€1.40M€1.56M▲

Accrued charges and deferred income492/3€43€16k▲

Income statement Code20232024

Other operating charges640/8€3k€616▼

Gross operating margin9900€-3k€-5k▼

Operating profit (loss)9901€-6k€-5k▲

Financial charges65/66B€264€408▲

Recurring financial charges65€264€408▲

Profit (loss) for the period before taxes9903€-6k€-6k▲

Profit (loss) for the period9904€-6k€-6k▲

Profit (loss) for the period to be appropriated9905€-6k€-6k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-6k€-12k▼

Profit (loss) brought forward from the previous period14P-€-6k

The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 5Gazette 3Filings 2

2025

24-10

State Gazette act Appointments: KPMG Bedrijfsrevisoren, Davy Demuynck and Sam Bordon

Permanent representative: Filip De Bock · Resignations: Davy Demuynck (director) and Sam Bordon (director) · Registered-office move17 facts ▸

General meeting, 06-10-2025
Registered-office move, 8790 Waregem, Vredestraat 53
Legal-form conversion, Naamloze vennootschap
Purpose change, De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, de collectieve belegging in de in artikel 183, eerste lid, 3° van de AICB-Wet bedoeld…
Capital increase, €62.739,81
Capital, €75.239,81
Bank account, KBC Bank NV, BE15 7310 7031 1130
Net-asset statement, 16-09-2025
Auditor appointment, KPMG Bedrijfsrevisoren (statutory auditor)
Permanent representative, Filip De Bock
Director resignation, Davy Demuynck (director)
Director resignation, Sam Bordon (director)
+5 further facts in this act

26-09

State Gazette act Resignations: Edouard HERINCKX, Michel CLAES and SMAPIC

Appointments: Davy DEMUYNCK (director) and Sam BORDON (director) · Mandate compensation8 facts ▸

Written resolution, 16/09/2025
Director resignation, Edouard HERINCKX (director)
Director resignation, Michel CLAES (director)
Director resignation, SMAPIC (director)
Director appointment, Davy DEMUYNCK (director)
Director appointment, Sam BORDON (director)
Mandate compensation, Davy DEMUYNCK
Mandate compensation, Sam BORDON

08-08

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 8 days late

2024

19-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 19 days late

2022

28-12

State Gazette act Incorporation

Appointments: SMAPIC, Edouard HERINCKX and Michel CLAES · Permanent representative: Aubry LEFEBVRE · Founder10 facts ▸

Incorporation, 22 décembre 2022
Founder, CŒUR DE VILLE
Founding capital, €12.500
Bank account, Banque BNP PARIBAS FORTIS
Director appointment, SMAPIC (director)
Permanent representative, Aubry LEFEBVRE
Director appointment, Edouard HERINCKX (director)
Director appointment, Michel CLAES (director)
Director appointment, SMAPIC (managing director)
Mandate compensation, SMAPIC

State Gazette actNBB filingAn act published in both Dutch and French appears here once.

Directors · office · real estate

Directors

3 directors, no change since 2025

Davy DEMUYNCK

Director · since 06-10-2025

Current

Sam Bordon

Director · since 06-10-2025

Current

SMAPIC

Director · since 23-12-2022 · Private limited company · perm. rep.: Aubry LEFEBVRE

Current

06-10-2025 Davy DEMUYNCK: Reappointed as Director

06-10-2025 Sam Bordon: Reappointed as Director

16-09-2025 Davy DEMUYNCK: Appointed as Director

16-09-2025 Sam Bordon: Appointed as Director

16-09-2025 Edouard HERINCKX: Resigned as Director

Full history in the Timeline (11 changes) →

Location & real-estate footprint

Registered office, Waregem · 1 establishment unit since 2022

establishment The establishment unit on the map

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.

Vredestraat 538790 Waregem

Ground area

1.1 ha

Building footprint

581 m²

Volume, LiDAR

520 m³

Parcel 34452B1150/00A000, Flanders · tallest building 5.1 m. Linked by address, not a title deed.

1 establishment unit

ASTY MOULIN PROPERTIES

Vredestraat 53, 8790 WaregemReal estate development

since 20222.340.225.463

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
34452B1150/00A000	Flanders	1.1 ha	1 · 581 m²	5.1 m

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.

Statutory auditor

1 auditor

KPMG Réviseurs d'EntreprisesCurrent

Statutory auditor · represented by Filip De Bock

24-10-2025 → present

Articles of association

Purpose

De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, de collectieve belegging in de in artikel 183, eerste lid, 3° van de AICB-Wet bedoelde categorie van…

Full purpose

De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, de collectieve belegging in de in artikel 183, eerste lid, 3° van de AICB-Wet bedoelde categorie van toegelaten beleggingen. Bijgevolg bestaat haar hoofdactiviteit erin te beleggen in vastgoed, zoals gedefinieerd in artikel 2, 4° van het GVBF-KB...

according to the deed of 24-10-2025