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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 8 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
79 other companies have their registered office at the same address; threshold 10.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
SAFE HOLDING BELGIUM from Ieper, company number BE0446637983, closed financial year 2025 with a result of € -2.3 million after tax. Compared with financial year 2024, the result moved from € -4.5 million to € -2.3 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 1, 2026.
€ -11.9 million
▼ € 2.3 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.3 million
▲ 48 % less loss than in 2024
Profit after tax over the fiscal year.
€ 3,567
▲ 43% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -22 million.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 23,290
▼ 60% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 269 days on average.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € -4,912,626 | € -1,136,026 | € -4,478,548 | € -2,323,231 | ▲ € 2.2 million |
| Equity | € -3,980,694 | € -5,116,719 | € -9,595,267 | € -11,918,498 | ▼ € 2.3 million |
| Total debts | € 13,042,396 | € 14,178,112 | € 15,346,917 | € 16,319,495 | ▲ 6% |
| Cash | € 624 | € 393 | € 2,503 | € 3,567 | ▲ 43% |
| Retained profit | € -14,055,894 | € -15,191,919 | € -19,670,467 | € -21,993,698 | ▼ € 2.3 million |
| Balance sheet total | € 9,061,702 | € 9,061,393 | € 5,751,650 | € 4,400,997 | ▼ 23% |
Key figures of SAFE HOLDING BELGIUM, 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 SAFE HOLDING BELGIUM?
What happened at SAFE HOLDING BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Philippe Pannier stepped down as director. NBB
- Opus Terrae BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 2.3 million. filed late Source: NBB ↗
- GHEMIC BV became a director. NBB
- Philippe Pannier became a director. NBB
- Opus Terrae BV became a director. NBB
- New establishment in Ieper. KBO
- Start of the company according to the CBE. KBO
In short
From € 4.9 million loss in 2022 to € 2.3 million loss in 2025.
Management
The stake of INTERNATIONAL REAL ESTATE SERVICES comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SAFE HOLDING BELGIUMBehind SAFE HOLDING BELGIUM is GHEMIC BV. The shares are held by INTERNATIONAL REAL ESTATE SERVICES (100%). It owns 100% of Creletine ltd itself.
Directors
According to the 2025 annual accounts
Director · represented by Michael Gheysens
Also active at: R.H.R. - INDUSTRIES, GARAGE S.O.S., GHELAMCO INVEST, SOGIMES, IMMOBILIERE NORTH SEA PROPERTIES, THE WHITE HOUSE ZOUTE, STEELCON, BELGIAN TRADING COMPANY +44 more
since 2025
since 2023 · until 2029
Managing director · represented by Paul Gheysens
Also active at: DOCK-SITE, R.H.R. - INDUSTRIES, GARAGE S.O.S., GHELAMCO INVEST, THE WHITE HOUSE ZOUTE, M. VAN STEENWINKEL, Zeewind, MeetDistrict +22 more
since 2023 · until 2029
Shareholders
Participations
Creletine ltd
100%
Establishments
Establishment units
Physical locations of this company
Zwaanhofweg 10
8900 Ieper
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 79 companies are registered at this address.
All companies at this address →R.H.R. - INDUSTRIES same network
€ 233,316 gross margin · 2025
GARAGE S.O.S. same network
€ -8,977 gross margin · 2025
GHELAMCO
€ 549,961 revenue · 2024
GHELAMCO INVEST same network
€ 38.6 million revenue · 2025
SOGIMES same network
€ 4.7 million gross margin · 2025
+74 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
- 0446.637.983
- VAT number
- BE 0446.637.983
- Registered office
- Zwaanhofweg 10, 8900 Ieper
- Names & denominations
- SAFE HOLDING BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 17 February 1992
- Peppol
- Not registered