Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 29 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 2.8 to 0.4.
Financials
Financial year 2025
Properties Legen Heirweg from Gavere, company number BE0437553637, closed financial year 2025 with a result of € -3.4 million after tax. For that financial year Properties Legen Heirweg recorded revenue of € 544,353 and equity of € 724,730. Compared with financial year 2024, the result moved from € 28,449 to € -3.4 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on May 22, 2026.
€ 724,730
▼ 9% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3.4 million
▼ still € 28,449 profit in 2024
Profit after tax over the fiscal year.
€ 42,913
▲ € 36,967 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -3.7 million.
People and assets in 2025
0.4
▼ 1.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 64,187
▼ 63% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 1,508
▼ 82% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.9 million
▼ 3% vs 2024
€ 338,943 is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 9,946
▼ 88% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 24 days on average.
€ 6,464
▼ 88% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 953,095 | € 1,017,923 | € 1,044,600 | € 544,353 | ▼ 48% |
| Profit after taxes | € -3,400 | € 7,549 | € 28,449 | € -3,369,670 | ▼ € 3.4 million |
| Equity | € 758,400 | € 765,949 | € 794,400 | € 724,730 | ▼ 9% |
| Total debts | € 3,769,054 | € 3,461,430 | € 3,168,137 | € 2,963,081 | ▼ 6% |
| Cash | € 32,509 | € 34,975 | € 5,946 | € 42,913 | ▲ € 36,967 |
| Land & buildings | € 4,229,333 | € 3,886,731 | € 3,539,823 | € 3,205,401 | ▼ 9% |
| Retained profit | € -396,552 | € -389,003 | € -360,553 | € -3,730,223 | ▼ € 3.4 million |
| Bank debt | € 3,679,934 | € 3,354,717 | € 3,025,053 | € 2,940,749 | ▼ 3% |
| Balance sheet total | € 4,539,489 | € 4,253,402 | € 3,964,560 | € 3,687,810 | ▼ 7% |
| Employees (FTE) | 2.8 | 2.8 | 1.9 | 0.4 | ▼ 1.5 |
Key figures of Properties Legen Heirweg, 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 Properties Legen Heirweg?
What happened at Properties Legen Heirweg in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Philippe Vandeurzen stepped down as director. NBB
- De Eik NV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 3.4 million (▼ € 3.4 million vs 2024). Source: NBB ↗
- WIm Dubois stepped down as director. NBB
- Philippe Vandeurzen became a director. NBB
- WIm Dubois became a director. NBB
- De Eik NV became a director. NBB
- New establishment in Gavere. KBO
In short
From € 3,400 loss in 2022 to € 3.4 million loss in 2025.
Paid € 8,067 in corporate taxes since 2022.
Best year ever: 2024, with € 28,449 profit.
Pays suppliers within 24 days on average.
Management
The stake of MAXINTER comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Properties Legen HeirwegThe shares are held by MAXINTER (100%).
Directors
According to the 2025 annual accounts
Philippe Vandeurzen
Director
since 2025 · until 2027
since 2024 · until 2025
Director · represented by Klara Van Waeyenberge
Also active at: Pietercil Delby's, PROMINTER, Mediahuis Partners, MEDIAHUIS, e-BO Enterprises, Indufin Fund Manager, Indufin Investment Fund, PIETERCIL GROUP +4 more
since 2024 · until 2027
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Legen Heirweg 35
9890 Gavere
Legen Heirweg 33
9890 Gavere
Active since 9 June 1989
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0437.553.637
- VAT number
- BE 0437.553.637
- Registered office
- Legen Heirweg 35, 9890 Gavere
- Names & denominations
- Properties Legen Heirweg
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 31 May 1989
- Peppol
- Active · Active since 7 Nov 2025
- Activities · NACE
Groothandel in elektrisch materiaal, inclusief installatiemateriaal
Groothandel in elektrisch materiaal inclusief installatiemateriaal