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 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
THEATRE ROYAL DES GALERIES from Brussel, company number BE0468797436, closed financial year 2025 with a result of € -75,340 after tax. For that financial year THEATRE ROYAL DES GALERIES recorded a gross margin of € 1.2 million and equity of € -12,530. Compared with financial year 2024, the result moved from € -11,148 to € -75,340. 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 January 26, 2026.
€ -12,530
▼ € 75,340 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -75,340
▼ 576 % more loss than in 2024
Profit after tax over the fiscal year.
€ 869,998
▲ 16% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
26.3
▲ 1.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.2 million
▲ 10% vs 2024
€ 47,100 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.
Debts at end 2025
€ 18,750
▼ 25% vs 2024
Loans from banks and other lenders, long and short.
€ 205,188
▼ 11% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 86,326
▲ 6% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 714,517 | € 1,005,330 | € 1,159,874 | € 1,218,007 | ▲ 5% |
| Profit after taxes | € -221,640 | € -68,812 | € -11,148 | € -75,340 | ▼ € 64,192 |
| Equity | € 142,770 | € 73,957 | € 62,810 | € -12,530 | ▼ € 75,340 |
| Total debts | € 1,236,664 | € 1,341,457 | € 1,499,472 | € 1,615,010 | ▲ 8% |
| Cash | € 976,205 | € 824,204 | € 752,789 | € 869,998 | ▲ 16% |
| Retained profit | € 142,770 | € 73,957 | € 62,810 | € -12,530 | ▼ € 75,340 |
| Bank debt | € 37,500 | € 31,250 | € 25,000 | € 18,750 | ▼ 25% |
| Balance sheet total | € 1,379,433 | € 1,415,415 | € 1,562,282 | € 1,602,480 | ▲ 3% |
| Employees (FTE) | 20.1 | 20.3 | 25.2 | 26.3 | ▲ 1.1 |
Key figures of THEATRE ROYAL DES GALERIES, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to THEATRE ROYAL DES GALERIES?
What happened at THEATRE ROYAL DES GALERIES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 75,340. Source: NBB ↗
- New establishment in Schaarbeek. KBO
- Marie-Paule KUMPS became a director. NBB
- Pascal VREBOS became a director. NBB
- Annick DAVIS became a director. NBB
- Olivier DUBOIS became a director. NBB
- Michel MASSUN became a director. NBB
- David MICHELS became a director. NBB
In short
From € 221,640 loss in 2022 to € 75,340 loss in 2025.
On average € 46,300 of value added per employee in 2025.
Management
Behind THEATRE ROYAL DES GALERIES are David MICHELS , Michel MASSUN, Marie-Paule KUMPS, Pascal VREBOS, Annick DAVIS and Olivier DUBOIS.
Directors
According to the 2025 annual accounts
David MICHELS
Managing director
since 1999
Michel MASSUN
Director
since 2003
Marie-Paule KUMPS
Director
since 2019
Pascal VREBOS
Director
since 2016
Annick DAVIS
Director
since 2016
since 2005
Establishments
Establishment units
Physical locations of this company
Prinsengalerij 6
1000 Brussel
Keulenstraat 25
1030 Schaarbeek
Active since 1 January 2025
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0468.797.436
- VAT number
- BE 0468.797.436
- Registered office
- Prinsengalerij 6, 1000 Brussel
- Names & denominations
- THEATRE ROYAL DES GALERIES
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 21 December 1999
- Peppol
- Active · Active since 11 Sept 2025
- Activities · NACE
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