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Treesquare

Active
Private limited companyfounded 20233 yrs activeKoningsstraat 52, 1000 Brussel, BelgiumKBO/BCE: BE 0799.520.322
Summary

Treesquare has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13.77M and a net result of €-305k. Equity is shrinking by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 39% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).

Checked score

Score 2025
57 / 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability52▲+1
Solvency52=
Growth55=
Track record94
Bankruptcy probability, 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €230k at 30 days acceptable
Liquidity ample (current ratio 5.93 against 9.15 in 2024; short-term debt: 1% and cash: 4.6% of total assets), but 73.3% of the assets are financed with debt.
Credit check for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.
lowers risk+raises riskneutral
raises risk · 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
highest failure risk from 2 to 8 years 3 years 0 10 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
26.7%
Return on assets
-0.6%
Age of the figures
12 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
232425
2023 to 2025 · latest year €-305k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-01-2026, 94 days ahead of the deadline.
NBB · 3 filings
Deviation from the deadline
2025
94 d early
2024
163 d early
2023
160 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
24-09-2026 today30-09-2026 close30-04-2027 deadline
neutral · 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 2025, full schema

Turnover
€2.31M▲ 2.5%
2024 · €2.25M
2023: €1.09M 2024: €2.25M
2023 → 2025
EBIT margin
53.1%▲ 1.1pp
2024 · 52.1%
2023: 56.2% 2024: 52.1%
2023 → 2025
Net result
€-305k▲ 47.7%
2024 · €-583k
2023: €-241k 2024: €-583k
2023 → 2025
Working capital
€2.45M▲ 4.4%
2024 · €2.35M
2023: €2.11M 2024: €2.35M
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line202320242025Trend
Turnover€1.09M-€2.25M▲ 106%€2.31M▲ 2.5%
Equity€14.66M-€14.08M▼ 4.0%€13.77M▼ 2.2%
Operating result€614k-€1.17M▲ 91.0%€1.23M▲ 4.6%
Net result€-241k-€-583k▼ 142%€-305k▲ 47.7%
Result per fiscal year
Operating resultNet result
€-1.00M€-500k€0€500k€1.00MOperating result 2023: €614k€614kNet result 2023: €-241k€-241kOperating result 2024: €1.17M€1.17MNet result 2024: €-583k€-583kOperating result 2025: €1.23M€1.23MNet result 2025: €-305k€-305k202320242025€-1M€-500k€0€500k€1MOperating result 2023: €614k€614kNet result 2023: €-241k€-241kOperating result 2024: €1.17M€1.2MNet result 2024: €-583k€-583kOperating result 2025: €1.23M€1.2MNet result 2025: €-305k€-305k202320242025
The operating result has risen two years in a row; 2025 is 5% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €51.32M
Fixed assets €48.37M ▼ 0.8%
Current assets €2.95M ▲ 11.8%
Equity and liabilities €51.65M
Equity €13.77M ▼ 2.2%
Debt €37.88M ▲ 0.3%
Debt's share of the balance-sheet total rises from 72.8% to 73.3%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€1.90M
2024 · €1.89M
Cash flow
€372k
2024 · €138k
Current ratio
5.93
2024 · 9.15
Debt to equity
2.75
2024 · 2.68
ROE
-2.2%
2024 · -4.1%
ROA
-0.6%
2024 · -1.1%
Interest coverage
1.23
2024 · 1.07
Debt ≤ 1 year
€497k
2024 · €288k
Debt > 1 year
€36.15M=
2024 · €36.15M
Income taxes
€-2k
2024 · €8k
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 · 50 lines
Balance sheet Code20242025
Assets
Total assets20/58€51.84M€51.65M
Formation expenses20€459k€332k
Fixed assets21/28€48.75M€48.37M
Tangible fixed assets22/27€48.75M€48.37M
Land and buildings22€48.75M€48.37M
Current assets29/58€2.63M€2.95M
Amounts receivable within one year40/41€118k€291k
Trade receivables40€58k€231k
Other amounts receivable41€59k€59k=
Cash at bank and in hand54/58€2.16M€2.37M
Deferred charges and accrued income490/1€356k€286k
Equity and liabilities
Total equity and liabilities10/49€51.84M€51.65M
Equity10/15€14.08M€13.77M
Contributions10/11€14.90M€14.90M=
Profit (loss) carried forward14€-824k€-1.13M
Amounts payable17/49€37.77M€37.88M
Amounts payable after more than one year17€36.15M€36.15M=
Financial debts170/4€36.00M€36.00M=
Credit institutions173€20.00M€20.00M=
Other loans174€16.00M€16.00M=
Other amounts payable178/9€151k€151k=
Amounts payable within one year42/48€288k€497k
Trade debts44€277k€497k
Suppliers440/4€277k€497k
Taxes, remuneration and social security45€11k€400
Taxes450/3€11k€400
Accrued charges and deferred income492/3€1.33M€1.23M
Income statement Code20242025
Operating income70/76A€2.82M€2.77M
Turnover70€2.25M€2.31M
Other operating income74€568k€459k
Operating charges60/66A€1.65M€1.54M
Services and other goods61€354k€398k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€721k€677k
Other operating charges640/8€572k€466k
Operating profit (loss)9901€1.17M€1.23M
Financial income75/76B€25k€20k
Recurring financial income75€25k€20k
Income from current assets751€25k€20k
Financial charges65/66B€1.77M€1.55M
Recurring financial charges65€1.77M€1.55M
Debt charges650€1.77M€1.55M
Other financial charges652/9€6k€6k
Profit (loss) for the period before taxes9903€-576k€-307k
Income taxes67/77€8k€-2k
Taxes670/3€8k€5k
Tax adjustments and reversals of tax provisions77-€8k
Profit (loss) for the period9904€-583k€-305k
Profit (loss) for the period to be appropriated9905€-583k€-305k
Appropriation of the result
Profit (loss) to be appropriated9906€-824k€-1.13M
Profit (loss) brought forward from the previous period14P€-241k€-824k

The notes to these accounts (32 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

Next filing, fiscal year 2026, expected by 30-04-2027
2026
10-02
State Gazette act Appointment: EY Bedrijfsrevisoren BV (statutory auditor)
Permanent representative: Sarah DUPUIS · Registered-office move4 facts ▸
  • General meeting, 23/01/2026
  • Registered-office move, Koningstraat 52, 1000 Brussel
  • Auditor appointment, EY Bedrijfsrevisoren BV (statutory auditor)
  • Permanent representative, Sarah DUPUIS
26-01
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2024
18-11
NBB filing Annual accounts filed
fiscal year 2024 · full schema
30-09
Financial Weakest financial yearnet €-583k
Net result drops to €-583k, the lowest in the series; recovery starts the following year.
2023
22-11
NBB filing Annual accounts filed
fiscal year 2023 · full schema
07-04
State Gazette act Miscellaneous
Capital increase2 facts ▸
  • General meeting, 29 maart 2023
  • Capital increase, €14.875.000
16-03
State Gazette act Incorporation
Appointments: BNP PARIBAS REAL ESTATE BELGIUM, Frédéric Van De Putte and 3 others · Permanent representative: Mohamed Oubial · Founder11 facts ▸
  • Incorporation, 13 maart 2023
  • Founder, KGAL Core 4 Holding S.à r.L
  • Founding capital, €25.000
  • Bank account, BNP PARIBAS FORTIS
  • Director appointment, BNP PARIBAS REAL ESTATE BELGIUM (bestuurder van soort a)
  • Permanent representative, Mohamed Oubial
  • Director appointment, Frédéric Van De Putte (bestuurder van soort a)
  • Director appointment, VAHLENKAMP Helge (bestuurder van soort b)
  • Director appointment, WINDMEIßER Peter Rudolf (bestuurder van soort b)
  • Auditor appointment, EY Bedrijfsrevisoren (statutory auditor)
  • Power of attorney, Allen & Overy (Belgium) LLP
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors
under verification, no change since 2023
This board is reconstructed from a single act (23323062). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
BNP PARIBAS REAL ESTATE BELGIUM
Bestuurder van soort a · since 13-03-2023 · Public limited company · perm. rep.: Mohamed Oubial
Current
Fréderic VAN DE PUTTE
Bestuurder van soort a · since 13-03-2023
Current
VAHLENKAMP Helge
Bestuurder van soort b · since 13-03-2023
Current
WINDMEIßER Peter Rudolf
Bestuurder van soort b · since 13-03-2023
Current
13-03-2023 BNP PARIBAS REAL ESTATE BELGIUM: Appointed as Bestuurder van soort a
13-03-2023 Fréderic VAN DE PUTTE: Appointed as Bestuurder van soort a
13-03-2023 VAHLENKAMP Helge: Appointed as Bestuurder van soort b
13-03-2023 WINDMEIßER Peter Rudolf: Appointed as Bestuurder van soort b
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2023
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.

Koningsstraat 521000 Brussel
Ground area
6,132 m²
Building footprint
4,365 m²
Volume, LiDAR
97,143 m³
2 parcels, Brussels · tallest building 45.8 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
Treesquare
Louizalaan 235, 1050 ElseneReal estate activities
since 20232.344.112.193
2 parcels
Brussels 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21807G0131/00T000 Brussels 5,672 m² 1 · 3,878 m² 45.8 m · 8 fl.
21804D1516/00C000
ProtectedMonumentHuis de FranceSource ↗
Brussels 460 m² 1 · 487 m² 32.6 m · 8 fl.
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Statutory auditor

1 auditor
Ernst et Young Reviseurs d'EntreprisesCurrent
Statutory auditor · represented by Sarah DUPUIS
16-03-2023 → present

Articles of association

Purpose
A) uitsluitend in eigen naam en voor eigen rekening: het aanleggen, het uitbouwen en beheren van een onroerend vermogen, in het bijzonder het pand 'Treesquare' gelegen te 1000…
Full purpose

A) uitsluitend in eigen naam en voor eigen rekening: het aanleggen, het uitbouwen en beheren van een onroerend vermogen, in het bijzonder het pand 'Treesquare' gelegen te 1000 Brussel, de Meeûssquare 5-6; alle verrichtingen, al dan niet onder het stelsel van de BTW, met betrekking tot onroerende goederen en onroerende zakelijke rechten, zoals de aan- en verkoop, de bouw, de verbouwing, de binnenhuisinrichting en decoratie, de huur- en verhuur, de ruil, de verkaveling en, in het algemeen, alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het beheer of op het productief maken, van onroerende goederen of onroerende zakelijke rechten; b) uitsluitend in eigen naam en voor eigen rekening: het aangaan en verstrekken van leningen, kredieten, financieringen en het aangaan van leasingcontracten, in het kader van de bovenvermelde doelstellingen.

Structure & network

Connections & network

9 connected companies

Capital and shareholders

Shareholders according to the acts
At incorporation act of 16-03-2023 ↗

The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.

Capital over the years
  1. 07-04-2023 Capital increase of 14,875,000 EUR · in cash
  2. 16-03-2023 Incorporation · 25,000 EUR · 100 shares

Recognitions · licences · registrations

Legal Entity Identifier

894500RZQQ11CSOZG456
live in the LEI register

Similar companies · same sector, comparable size

Of 12,022 companies in sector 68203 we hold annual accounts for 5,986. 1,545 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification
Legal formPrivate limited company
Founded14-03-2023
Fiscal year end30-09
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.