LEISURE PROPERTY INVEST

Active

Public limited companyfounded 200719 yrs activeZwaanhofweg 10, 8900 Ieper, BelgiumKBO/BCE: BE 0886.837.247

LEISURE PROPERTY INVEST has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €15.81M and a net result of €-439k. Equity is shrinking by ~3% per year across the filed fiscal years. Its solvency ranks better than 15% of 60 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).

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Checked score

Score 2024

54 / 100

Fair

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

Axes · tick = 2023

Profitability18▲+1

Solvency47▲+2

Growth52=

Track record100

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €850k at 30 days acceptable

Liquidity ample (current ratio 2.54 against 1.11 in 2023; short-term debt: 38.7% and cash: 0.2% of total assets), but 78.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

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

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 91

Relative position

BE, all sectors

reference

Sector 91

lower

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

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

KBO · legal form

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

18192021222324

2018 to 2024 · latest year €-439k

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 60 sector peers (2024).

NBB · sector comparison

Position among 60 sector peers

Solvency

better than 15%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-07-2025, 24 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

24 d early

2023

26 d early

2022

18 d early

2021

24 d early

2020

18 d early

2019

18 d early

← before the deadline after the deadline →

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

€-439k▲ 57.0%

2023 · €-1.02M

2018: €-169k 2019: €-34k 2020: €-116k 2021: €-358k 2022: €-1.07M 2023: €-1.02M

2018 → 2024

Working capital

€43.60M▲ 549%

2023 · €6.72M

2018: €39.11M 2019: €19.13M 2020: €24.44M 2021: €32.34M 2022: €34.30M 2023: €6.72M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€18.70M-€18.34M▼ 1.9%€17.27M▼ 5.8%€16.25M▼ 5.9%€15.81M▼ 2.7%

Operating result€-111k-€-373k▼ 236%€-1.03M▼ 177%€-1.31M▼ 26.4%€-577k▲ 55.9%

Net result€-116k-€-358k▼ 208%€-1.07M▼ 199%€-1.02M▲ 4.8%€-439k▲ 57.0%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €577k in 2024 against €1.31M in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €73.16M

98.3%

Fixed assets €1.28M▼ 89.7%

Current assets €71.88M▲ 6.3%

Equity and liabilities €73.16M

21.6%

78.4%

Equity €15.81M▼ 2.7%

Debt €57.35M▼ 10.1%

The debt ratio falls from 79.7% to 78.4%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-559k▲

2023 · €-1.27M

Cash flow

€-421k▲

2023 · €-988k

Solvency

21.6%▲

2023 · 20.3%

Current ratio

2.54▲

2023 · 1.11

Quick ratio

0.04▲

2023 · 0.02

Debt / equity

3.63▼

2023 · 3.92

ROE

-2.8%▲

2023 · -6.3%

ROA

-0.6%▲

2023 · -1.3%

Interest coverage

-445.41▼

2023 · -16.38

Debt

€57.35M▼

2023 · €63.77M

Debt ≤ 1 year

€28.28M▼

2023 · €60.89M

Debt > 1 year

€28.90M▲

2023 · €2.71M

Income taxes

€82▲

2023 · €65

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€80.02M€73.16M▼

Fixed assets21/28€12.40M€1.28M▼

Tangible fixed assets22/27€45k€27k▼

Plant, machinery and equipment23€3k-

Furniture and vehicles24€42k€27k▼

Financial fixed assets28€12.36M€1.25M▼

Affiliated companies280/1-€1.25M

Participating interests280-€1.25M

Current assets29/58€67.62M€71.88M▲

Stocks and contracts in progress3€66.66M€70.81M▲

Stocks30/36€66.66M€70.81M▲

Property held for sale35-€70.81M

Amounts receivable within one year40/41€697k€655k▼

Trade receivables40€161k€24k▼

Other amounts receivable41€536k€631k▲

Cash at bank and in hand54/58€4€148k▲

Deferred charges and accrued income490/1€265k€264k▼

Equity and liabilities

Total equity and liabilities10/49€80.02M€73.16M▼

Equity10/15€16.25M€15.81M▼

Contributions10/11€19.93M€19.93M=

Capital10€19.93M€19.93M=

Issued capital100€19.93M€19.93M=

Profit (loss) carried forward14€-3.68M€-4.12M▼

Amounts payable17/49€63.77M€57.35M▼

Amounts payable after more than one year17€2.71M€28.90M▲

Other amounts payable178/9€2.71M€28.90M▲

Amounts payable within one year42/48€60.89M€28.28M▼

Current portion of amounts payable after more than one year42€45.67M€27.50M▼

Financial debts43€14.39M-

Credit institutions430/8€14.39M-

Trade debts44€669k€657k▼

Suppliers440/4€669k€657k▼

Taxes, remuneration and social security45€32k€65▼

Taxes450/3€32k€65▼

Other amounts payable47/48€124k€124k=

Accrued charges and deferred income492/3€167k€171k▲

Income statement Code20232024

Operating income70/76A-€134

Other operating income74-€134

Operating charges60/66A-€577k

Goods for resale, raw materials and consumables60-€382

Purchases600/8-€377k

Change in stocks: decrease (increase)609-€-377k

Services and other goods61-€467k

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€18k▼

Other operating charges640/8€622k€92k▼

Gross operating margin9900€-652k-

Operating profit (loss)9901€-1.31M€-577k▲

Financial income75/76B€363k€315k▼

Recurring financial income75€363k€315k▼

Income from current assets751-€315k

Financial charges65/66B€78k€177k▲

Recurring financial charges65€78k€177k▲

Debt charges650-€1k

Other financial charges652/9-€176k

Profit (loss) for the period before taxes9903€-1.02M€-439k▲

Income taxes67/77€65€82▲

Taxes670/3-€82

Profit (loss) for the period9904€-1.02M€-439k▲

Profit (loss) for the period to be appropriated9905€-1.02M€-439k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-3.68M€-4.12M▼

Profit (loss) brought forward from the previous period14P€-2.66M€-3.68M▼

The notes to these accounts (35 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 29Financial 3Gazette 16Filings 10

2026

23-02

State Gazette act Resignations & appointments

General meeting · Board meeting · Auditor reappointment8 facts ▸

General meeting, 2024-06-27
Board meeting, 2025-12-23
Auditor reappointment, K.PMG Bedrijfsrevisoren BV/SRL
Permanent representative, Melissa Carton
Permanent representative, Christophe Van Parys
Director reappointment, Opus Terrae BV (persoon belast met het dagelijks bestuur)
Mandate compensation, Opus Terrae BV
Mandate exercise mode, individueel

2025

19-09

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment4 facts ▸

General meeting, 2025-06-30
Director resignation, Michael GHEYSENS (bestuurder)
Director appointment, GHEMIC (bestuurder)
Permanent representative, Michael GHEYSENS

07-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Liquidity doublescurrent ratio 2.54

Current ratio from 1.11 to 2.54; short-term debt falls from €60.89M to €28.28M.

05-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

29-11

State Gazette act Purpose · Statutes amendment · Resignations & appointments · Miscellaneous

General meeting · Statutes amendment · Director resignation13 facts ▸

General meeting, 2023-11-23
Statutes amendment
Statutes amendment
Statutes amendment
Director resignation, Simon GHEYSENS (bestuurder)
Director resignation, OPUS TERRAE (bestuurder)
Director resignation, Michael GHEYSENS (bestuurder)
Director reappointment, OPUS TERRAE (bestuurder)
Director reappointment, Michael GHEYSENS (bestuurder)
Permanent representative, Paul GHEYSENS
Capital, €19.931.500
Corporate purpose, 1. Het patrimonium, waaronder onroerende goederen kunnen voorkomen, te behouden, en in de ruimste zin van het woord te beheren en oordeelkundig uit te breiden.…
+1 further facts in this act

18-10

State Gazette act Resignations & appointments

General meeting · Director resignation2 facts ▸

General meeting, 2023-09-06
Director resignation, Paul Garvie (bestuurder)

13-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Weakest financial yearnet €-1.07M

Net result drops to €-1.07M, the lowest in the series; recovery starts the following year.

07-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

18-01

State Gazette act Resignations & appointments

General meeting · Auditor reappointment · Permanent representative4 facts ▸

General meeting, 2021-06-25
Auditor reappointment, KPMG Bedrijfsrevisoren
Permanent representative, Melissa CARTON
Permanent representative, Paul GHEYSENS

2021

13-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

06-05

State Gazette act Resignations & appointments

General meeting · Director appointment2 facts ▸

General meeting, 2021-04-13
Director appointment, Paul GARVIE (bestuurder)

20-01

State Gazette act Resignations & appointments

Permanent representative2 facts ▸

Permanent representative, Joachim HOEBEECK
Permanent representative, Melissa CARTON

2020

13-07

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

31-12

Financial Equity above €10MEq €18.82M ▲1168%

Equity rises from €1.48M to €18.82M.

02-12

State Gazette act Capital & shares · Statutes amendment

General meeting · Capital increase · Share issue6 facts ▸

General meeting, 2019-11-20
Capital increase, €17.365.000
Share issue, zonder nominale waarde, 8471
Statutes amendment
Power of attorney, Delphine Verpoest
Permanent representative, Paul Gheysens

11-07

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

06-12

State Gazette act Resignations & appointments

General meeting · Director reappointment · Permanent representative8 facts ▸

General meeting, 2018-06-25
Director reappointment, OPUS TERRAE (bestuurder, gedelegeerd bestuurder en voorzitter van de raad van bestuur)
Permanent representative, Paul GHEYSENS
Director reappointment, Simon GHEYSENS (bestuurder)
Director reappointment, Michael GHEYSENS (bestuurder)
Director resignation, Paul GHEYSENS (bestuurder)
Auditor resignation, DELOITTE BEDRIJFSREVISOREN (commissaris)
Auditor appointment, KPMG BEDRIJFSREVISOREN (commissaris)

06-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

23-05

State Gazette act Resignations & appointments

General meeting · Auditor reappointment · Permanent representative4 facts ▸

General meeting, 24/06/2017
Auditor reappointment, DELOITTE BEDRIJFSREVISOREN (commissaris)
Permanent representative, Rik NECKEBROECK
Permanent representative, Paul GHEYSENS

2017

19-07

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

27-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

2015

12-05

State Gazette act Resignations & appointments

General meeting · Auditor reappointment · Permanent representative4 facts ▸

General meeting, 2014-06-30
Auditor reappointment, DELOITTE BEDRIJFSREVISOREN (commissaris)
Permanent representative, Rik NECKEBROECK
Permanent representative, Paul GHEYSENS

13-01

State Gazette act Capital & shares

General meeting · Capital increase · Bank account6 facts ▸

General meeting, 2014-12-19
Capital increase, €2.300.000
Bank account, FORTIS BANK
Capital, €2.566.500
Statutes amendment
Power of attorney, Siska Verlinde

2012

15-10

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment8 facts ▸

General meeting, 2012-09-03
Director resignation, Paul GHEYSENS (bestuurder en voorzitter van de raad van bestuur)
Director resignation, OPUS TERRAE (bestuurder en gedelegeerd bestuurder)
Director appointment, OPUS TERRAE (bestuurder en gedelegeerd bestuurder)
Director appointment, Paul GHEYSENS (bestuurder en voorzitter van de raad van bestuur)
Director appointment, Michael GHEYSENS (bestuurder)
Director appointment, Simon GHEYSENS (bestuurder)
Permanent representative, Paul GHEYSENS

2011

26-07

State Gazette act Resignations & appointments

General meeting · Auditor reappointment · Permanent representative4 facts ▸

General meeting, 2011-06-30
Auditor reappointment, DELOITTE BEDRIJFSREVISOREN
Permanent representative, Rik NECKEBROECK
Permanent representative, Paul GHEYSENS

2010

26-10

State Gazette act Capital & shares · Statutes amendment

General meeting · Capital increase · Capital6 facts ▸

General meeting, 2010-09-30
Capital increase, €205.000
Capital, €266.500
Bank account, DEXIA
Statutes amendment
Power of attorney, Peter Lembrechts

2007

19-03

State Gazette act Resignations & appointments

Board meeting · Director appointment3 facts ▸

Board meeting, 2007-02-07
Director appointment, Paul Gheysens (gedelegeerd bestuurder)
Director appointment, Paul Gheysens (voorzitter van de raad van bestuur)

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

8 directors, no change since 2025

GHEMIC

Director · since 30-06-2025 · Private limited company · perm. rep.: Michael GHEYSENS

Current

OPUS TERRAE

Director · since 23-11-2023 · Legal entity · perm. rep.: Paul GHEYSENS

Current

Opus Terrae BV

Persoon belast met het dagelijks bestuur · Legal entity

Current

OPUS TERRAE

Bestuurder, gedelegeerd bestuurder en voorzitter van de raad van bestuur · since 25-06-2018 · Private limited company · perm. rep.: Paul GHEYSENS

Not recently confirmed

30-06-2025 GHEMIC: Appointed as Director

30-06-2025 Michael GHEYSENS: Resigned as Director

23-11-2023 OPUS TERRAE: Resigned as Director

23-11-2023 OPUS TERRAE: Mandate renewed as Director

23-11-2023 Michael GHEYSENS: Resigned as Director

23-11-2023 Michael GHEYSENS: Mandate renewed as Director

23-11-2023 Simon GHEYSENS: Resigned as Director

30-06-2023 Paul Garvie: Resigned as Director

01-05-2021 Paul Garvie: Appointed as Director

25-06-2018 OPUS TERRAE: Mandate renewed as Bestuurder, gedelegeerd bestuurder en voorzitter van de raad van bestuur

25-06-2018 Michael GHEYSENS: Mandate renewed as Director

25-06-2018 Simon GHEYSENS: Mandate renewed as Director

25-06-2018 Paul GHEYSENS: Resigned as Director

03-09-2012 OPUS TERRAE: Appointed as Bestuurder en gedelegeerd bestuurder

03-09-2012 OPUS TERRAE: Resigned as Bestuurder en gedelegeerd bestuurder

03-09-2012 Michael GHEYSENS: Appointed as Director

03-09-2012 Simon GHEYSENS: Appointed as Director

03-09-2012 Paul GHEYSENS: Appointed as Bestuurder en voorzitter van de raad van bestuur

03-09-2012 Paul GHEYSENS: Resigned as Bestuurder en voorzitter van de raad van bestuur

07-02-2007 Paul GHEYSENS: Appointed as Managing director

07-02-2007 Paul GHEYSENS: Appointed as Voorzitter van de raad van bestuur

Location & real-estate footprint

Registered office, Ieper · 1 establishment unit since 2007

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.

Zwaanhofweg 108900 Ieper

Ground area

5,629 m²

Building footprint

1,997 m²

Volume, LiDAR

14,036 m³

Parcel 33305B1021/00D002, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

LEISURE PROPERTY INVEST

Zwaanhofweg 10, 8900 IeperNACE 70311

since 20072.160.999.553

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
33305B1021/00D002	Flanders	5,629 m²	1 · 1,997 m²	8.8 m · 2 fl.

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

4 auditors

K.PMG Bedrijfsrevisoren BV/SRLCurrent

Auditor

27-06-2024 → present

Show 3 earlier auditors

Deloitte Bedrijfsrevisoren Statutory auditor · represented by Rik NECKEBROECK succeeded by KPMG Réviseurs d'Entreprises in 2018	30-06-2011 → 25-06-2018
KPMG Bedrijfsrevisoren Auditor · represented by Melissa CARTON succeeded by K.PMG Bedrijfsrevisoren BV/SRL in 2024	25-06-2021 → 27-06-2024
KPMG Réviseurs d'Entreprises Statutory auditor succeeded by KPMG Bedrijfsrevisoren in 2021	25-06-2018 → 25-06-2021