Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 22 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
CANAL PROPERTIES from Gent, company number BE0444627313, closed financial year 2025 with a result of € 3 million after tax. For that financial year CANAL PROPERTIES recorded a gross margin of € 1.5 million and equity of € 16.7 million. Compared with financial year 2024, the result moved from € 472,691 to € 3 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 12, 2026.
€ 16.7 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3 million
▲ € 2.5 million vs 2024
Profit after tax over the fiscal year.
€ 24,692
▼ 76% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 3 million paid out
100 % of the profit went to the shareholders, mostly to DEBINCO (100 % of the shares). That is where the money ends up.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
€ 665
▼ 60% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 4.3 million
▼ 4% vs 2024
Loans from banks and other lenders, long and short.
€ 1.2 million
▲ 231% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,025,758 | € 5,285,041 | € 1,049,611 | € 1,540,600 | ▲ 47% |
| Profit after taxes | € 1,243,618 | € 1,496,949 | € 472,691 | € 3,014,689 | ▲ € 2.5 million |
| Equity | € 16,190,222 | € 17,687,171 | € 16,659,862 | € 16,674,551 | |
| Total debts | € 25,040,589 | € 20,853,467 | € 28,223,435 | € 23,630,893 | ▼ 16% |
| Cash | € 725,418 | € 5,320 | € 101,755 | € 24,692 | ▼ 76% |
| Land & buildings | € 6,872,496 | € 1,027,479 | € 981,773 | € 6,132,033 | ▲ € 5.2 million |
| Retained profit | € 13,940,222 | € 15,437,171 | € 14,409,862 | € 14,424,551 | |
| Dividend | € 0 | € 0 | € 1,500,000 | € 3,000,000 | ▲ 100% |
| Bank debt | € 11,275,000 | € 7,075,000 | € 4,450,000 | € 4,262,090 | ▼ 4% |
| Balance sheet total | € 41,230,811 | € 38,540,639 | € 44,883,298 | € 40,305,444 | ▼ 10% |
Key figures of CANAL PROPERTIES, 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 CANAL PROPERTIES?
What happened at CANAL PROPERTIES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Debinco NV stepped down as director. NBB
- Isabelle De Bruyn stepped down as director. NBB
- Ignaas Vandenabeele stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 3 million (▲ € 2.5 million vs 2024). Source: NBB ↗
- Debinco NV became a director. NBB
- Isabelle De Bruyn became a director. NBB
- Ignaas Vandenabeele became a director. NBB
- New establishment in Gent. KBO
In short
From € 1.2 million profit in 2022 to € 3 million profit in 2025.
Paid € 1.1 million in corporate taxes since 2022.
Best year ever: 2025, with € 3 million profit.
Paid out € 4.5 million in dividends to the owners in total.
Management
The stake of DEBINCO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CANAL PROPERTIESThe shares are held by DEBINCO (100%). It owns 100% of Immotrion, 100% of Eversite, 100% of Target Invest, 100% of Taft, 50% of Elektrion Land and 50% of Canal Construct itself.
Directors
According to the 2025 annual accounts
since 2022 · until 2028
Isabelle De Bruyn
Director
Also active at: IMMOTRION, VANDEN BRUYN, DE VOORKANT, SOUVERAIN 400, TARGET INVEST, DEBINCO, EVERSITE, CANAL CONSTRUCT +5 more
since 2022 · until 2028
Ignaas Vandenabeele
Director
Also active at: IMMOTRION, VANDEN BRUYN, DE VOORKANT, SOUVERAIN 400, TARGET INVEST, EVERSITE, CANAL CONSTRUCT, BLEU +6 more
since 2022 · until 2028
Shareholders
100%
Participations
100%
100%
100%
100%
50%
50%
Establishments
Establishment units
Physical locations of this company
Gordunakaai 87
9000 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →IMMOTRION same network
€ 236,982 gross margin · 2025
VANDEN BRUYN same network
€ 304,268 gross margin · 2025
DE VOORKANT same network
€ 1.2 million gross margin · 2025
TARGET INVEST same network
€ -1,604 gross margin · 2025
EVERSITE same network
€ -2,696 gross margin · 2025
+4 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
- 0444.627.313
- VAT number
- BE 0444.627.313
- Registered office
- Gordunakaai 87, 9000 Gent
- Names & denominations
- CANAL PROPERTIES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 3 July 1991
- Peppol
- Active · Active since 12 Jan 2026
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Overige gespecialiseerde bouwactiviteiten, neg
Handel in eigen onroerend goed
Handel in onroerend goed
Overige gespecialiseerde werkzaamheden in de bouw
Overige gespecialiseerde bouwwerkzaamheden