LIEGE DEVELOPPEMENT
ActiveLIEGE DEVELOPPEMENT has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19.19M and a net result of €299k. Equity is growing by ~21.1% per year across the filed fiscal years. Its solvency ranks better than 72% of 4500 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
86
/ 100
Excellent▲ +10 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability8▼-9
Solvency100=
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.7M at 30 days acceptable
Liquidity ample (current ratio 12.44 against 3.36 in 2024), and 33.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 2025Solvency, return and age of the figures
Solvency
66.5%
Return on assets
1%
Age of the figures
8 mo
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
22 d early
2023
7 d early
2022
17 d late
2021
25 d early
2020
26 d early
2019
27 d late
← before the deadline
after the deadline →
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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€299k▼ 16.5%
2024 · €358k
2018: €225k
2019: €264k
2020: €346k
2021: €4.83M
2022: €266k
2023: €164k
2024: €358k
2018 → 2025
Working capital
€5.58M▲ 181%
2024 · €1.99M
2018: €9.61M
2019: €9.55M
2020: €9.93M
2021: €13.26M
2022: €13.30M
2023: €2.35M
2024: €1.99M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€9.68M-€9.89M▲ 2.2%€10.03M▲ 1.4%€10.39M▲ 3.6%€19.19M▲ 84.7%
Operating result€6.43M-€261k▼ 95.9%€200k▼ 23.3%€193k▼ 3.5%€220k▲ 13.8%
Net result€4.83M-€266k▼ 94.5%€164k▼ 38.4%€358k▲ 118%€299k▼ 16.5%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 14% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €28.87M
Fixed assets
€22.81M▲ 58.3%
Current assets
€6.07M▲ 114%
Equity and liabilities €28.87M
Equity
€19.19M▲ 84.7%
Provisions
€1.45M▼ 1.5%
Debt
€8.24M▲ 53.0%
The debt ratio falls from 31.2% to 28.5%: equity grows faster than debt.
Key figures and ratios
EBITDA
€323k▲
2024 · €198k
Cash flow
€402k▲
2024 · €363k
Solvency
66.5%▲
2024 · 60.3%
Current ratio
12.44▲
2024 · 3.36
Quick ratio
12.44▲
2024 · 3.36
Debt / equity
0.43▼
2024 · 0.52
ROE
1.6%▼
2024 · 3.4%
ROA
1.0%▼
2024 · 2.1%
Interest coverage
3.40▲
2024 · 0.98
Debt
€8.24M▲
2024 · €5.38M
Debt ≤ 1 year
€487k▼
2024 · €843k
Debt > 1 year
€7.57M▲
2024 · €4.50M
Income taxes
€121k▲
2024 · €119k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€17.24M€28.87M▲
Fixed assets21/28€14.41M€22.81M▲
Tangible fixed assets22/27€1.11M€9.51M▲
Land and buildings22€1.11M€9.51M▲
Financial fixed assets28€13.30M€13.30M=
Current assets29/58€2.83M€6.07M▲
Amounts receivable within one year40/41€2.55M€5.81M▲
Trade receivables40€46k€141k▲
Other amounts receivable41€2.51M€5.67M▲
Cash at bank and in hand54/58€81€81=
Deferred charges and accrued income490/1€278k€258k▼
Equity and liabilities
Total equity and liabilities10/49€17.24M€28.87M▲
Equity10/15€10.39M€19.19M▲
Contributions10/11€487k€8.99M▲
Capital10€487k€8.99M▲
Issued capital100€487k€8.99M▲
Reserves13€4.92M€4.87M▼
Non-distributable reserves130/1€59k€77k▲
Legal reserve130€59k€77k▲
Tax-exempt reserves132€4.40M€4.34M▼
Distributable reserves133€460k€460k=
Profit (loss) carried forward14€4.98M€5.33M▲
Provisions and deferred taxes16€1.47M€1.45M▼
Deferred taxes168€1.47M€1.45M▼
Amounts payable17/49€5.38M€8.24M▲
Amounts payable after more than one year17€4.50M€7.57M▲
Financial debts170/4€4.50M€7.57M▲
Amounts payable within one year42/48€843k€487k▼
Current portion of amounts payable after more than one year42€710k€430k▼
Trade debts44€112k€42k▼
Suppliers440/4€112k€42k▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€21k€16k▼
Taxes450/3€21k€16k▼
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€41k€181k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€103k▲
Other operating charges640/8€53k€55k▲
Gross operating margin9900€251k€378k▲
Operating profit (loss)9901€193k€220k▲
Financial income75/76B€485k€273k▼
Recurring financial income75€485k€273k▼
Financial charges65/66B€202k€95k▼
Recurring financial charges65€202k€95k▼
Profit (loss) for the period before taxes9903€477k€398k▼
Transfer from deferred taxes780-€22k
Income taxes67/77€119k€121k▲
Profit (loss) for the period9904€358k€299k▼
Transfer from tax-exempt reserves789-€65k
Profit (loss) for the period to be appropriated9905€358k€364k▲
Appropriation of the result
Profit (loss) to be appropriated9906€4.98M€5.35M▲
Profit (loss) brought forward from the previous period14P€4.62M€4.98M▲
Transfer to equity691/2-€18k
To the legal reserve6920-€18k
Profit to be distributed694/7€0-
Directors or managers695€0-
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
29-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director reappointment · Permanent representative4 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director reappointment · Permanent representative4 facts ▸
- General meeting, 11 juni 2026
- Director reappointment, ATHELEAN (bestuurder)
- Permanent representative, Frank Van Leemput
- Mandate compensation, ATHELEAN
2025
31-12
Financial
Liquidity quadruplescurrent ratio 12.44
Current ratio from 3.36 to 12.44; short-term debt falls from €843k to €487k.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €164k ▼38.4%
Net result drops to €164k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €10MEq €10.03M ▲1.4%
6 profitable years in a row build equity to €10.03M.
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 17 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 9.42
Current ratio from 4.40 to 9.42; short-term debt falls from €3.90M to €1.58M.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €4.83M ▲1298%
Operating result €6.43M, net result €4.83M, both a record.
31-12
Financial
Equity above €5MEq €9.68M ▲99.7%
4 profitable years in a row build equity to €9.68M.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 27 days late
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 directors, no change since 2026
ATHELEAN
CurrentDirector · since 11-06-2026 · Public limited company · perm. rep.: Frank Van Leemput
11-06-2026
ATHELEAN: Mandate renewed as Director
25-06-2020
VAN GESTEL & CO IMMOBILIËN: Resigned as Director
10-07-2017
Immoveld NV: Resigned as Director
10-07-2017
Lennert Van Leemput: Resigned as Director
27-08-2014
Nelly Van Camp: Resigned as Director
Location & real-estate footprint
Registered office, Knokke-Heist · 1 establishment unit since 2017
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.
Zeehelling 28300 Knokke-HeistGround area
3,558 m²
Building footprint
996 m²
Volume, LiDAR
12,680 m³
2 parcels, Flanders · tallest building 18.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
LIEGE DEVELOPPEMENT
since 20172.265.441.433
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332E1051/00A000 | Flanders | 3,312 m² | 1 · 920 m² | 18.7 m · 4 fl. |
| 12007A0280/00M000 | Flanders | 246 m² | 1 · 76 m² | 12.8 m · 4 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.
Structure & network
Connections & network
11 connected companiesNetwork connections
Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Show 7 more network connections
Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Shared corporate director
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Ownership & control
1 partyControl over this companysits on this company's board1
12 subsidiaries · 1 location
controls
LIEGE DEVELOPPEMENTBE 0874.677.902
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Of 9,094 companies in sector 68201 we hold annual accounts for 6,725. 1,359 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-06-2005
Fiscal year end31-12
Activities, NACEBEL
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.