Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
CITY CONCEPT from Gent, company number BE0427003007, closed financial year 2025 with a result of € -695,570 after tax. For that financial year CITY CONCEPT recorded a gross margin of € 936,277 and equity of € 3.8 million. Compared with financial year 2024, the result moved from € -538,336 to € -695,570. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 9, 2026.
€ 3.8 million
▼ 16% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -695,570
▼ 29 % more loss than in 2024
Profit after tax over the fiscal year.
€ 11,367
▼ 37% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 3 million.
People and assets in 2025
1.1
Average over the fiscal year, from the social balance sheet.
€ 59,741
€ 54,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 17,750
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 27.4 million
▼ 10% vs 2024
€ 911,386 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 1.1 million
▲ 13% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 10,997
▼ 91% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 11,552,675 | € 6,215,403 | - | - | |
| Gross margin | - | - | € 1,592,674 | € 936,277 | ▼ 41% |
| Profit after taxes | € 747,295 | € -705,000 | € -538,336 | € -695,570 | ▼ € 157,234 |
| Equity | € 5,708,995 | € 5,003,996 | € 4,465,660 | € 3,770,090 | ▼ 16% |
| Total debts | € 29,121,919 | € 31,300,729 | € 33,072,703 | € 31,196,248 | ▼ 6% |
| Cash | € 19,776 | € 15,612 | € 18,166 | € 11,367 | ▼ 37% |
| Land & buildings | € 19,537,756 | € 19,944,148 | € 16,451,658 | € 17,244,216 | ▲ 5% |
| Retained profit | € 4,933,022 | € 4,228,023 | € 3,689,686 | € 2,994,116 | ▼ 19% |
| Bank debt | € 26,667,837 | € 28,675,767 | € 30,436,746 | € 27,430,613 | ▼ 10% |
| Balance sheet total | € 35,289,899 | € 36,714,468 | € 37,898,865 | € 35,277,598 | ▼ 7% |
| Employees (FTE) | - | - | - | 1.1 |
Key figures of CITY CONCEPT, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to CITY CONCEPT?
What happened at CITY CONCEPT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Cedric Ongena stepped down as director. NBB
- Advice and Follow-up BV stepped down as director. NBB
- Pierre Liétear stepped down as director. NBB
- Sabrina Huys stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 695,570. Source: NBB ↗
- Godelieve Persoons stepped down as director. NBB
- Cedric Ongena became a director. NBB
- Godelieve Persoons became a director. NBB
In short
From € 747,295 profit in 2022 to € 695,570 loss in 2025.
Paid € 318,867 in corporate taxes since 2022.
Best year ever: 2022, with € 747,295 profit.
On average € 851,200 of value added per employee in 2025.
Management
The shares are held by Pierre Lietaer (75%) and Laure Lietaer (25%). It owns 100% of Sogefim and 100% of Cotton Projects itself.
Directors
According to the 2025 annual accounts
Godelieve Persoons
Director
since 2022 · until 2025
Director · represented by Yves Tytgat
Also active at: Jules Tytgat, SCOOP, FONCIERE DU MARCHE AUX HERBES, IMSART, LAMSOUL, LES CRESSES, SIMINVEST, MATHIMMO +8 more
since 2022 · until 2028
since 2023 · until 2029
Pierre Liétear
Managing director
since 2022 · until 2028
since 2022 · until 2028
Shareholders
Pierre Lietaer
75%
Laure Lietaer
25%
Participations
100%
100%
Establishments
Establishment units
Physical locations of this company
Tentoonstellingslaan 123
9000 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →PHILSTONE same network
€ 709,894 gross margin · 2025
OPUS OPERANDI
€ 17,519 gross margin · 2025
SOGEFIM same network
€ 880,348 gross margin · 2025
Optistone
€ -2,467 gross margin · 2025
HIDROSANITARIA
€ 42,665 gross margin · 2025
+3 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0427.003.007
- VAT number
- BE 0427.003.007
- Registered office
- Tentoonstellingslaan 123, 9000 Gent
- Names & denominations
- CITY CONCEPT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 June 1984
- Peppol
- Active · Active since 27 Aug 2023
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen