Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2023 and 2024.
-
Tight liquidity NBB
Cash and receivables cover 53 % of short-term debt in 2024; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 298,413.5 to 4.6.
Financials
Financial year 2024
BELGIUM SR from Brussel, company number BE0537736425, closed financial year 2024 with a result of € -245,086 after tax. For that financial year BELGIUM SR recorded revenue of € 1.5 million and equity of € -225,962. Compared with financial year 2023, the result moved from € -117,797 to € -245,086. 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 June 27, 2025.
€ -225,962
▼ € 246,473 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -245,086
▼ 108 % more loss than in 2023
Profit after tax over the fiscal year.
€ 25,825
▲ 18% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -246,518.
People and assets in 2024
4.6
▼ 0.5 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 320,584
▲ 9% vs 2023
€ 69,700 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.
€ 8,968
▲ 60% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 196,009
▼ 16% vs 2023
€ 40,641 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 1.1 million
▲ 213% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 300 days on average.
€ 14,158
▼ 80% vs 2023
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 1,077,275 | € 1,496,243 | ▲ 39% |
| Gross margin | € 248,920 | € 372,293 | - | - | |
| Profit after taxes | € 503,520 | € 19,269 | € -117,797 | € -245,086 | ▼ € 127,289 |
| Equity | € 115,695 | € 134,964 | € 20,511 | € -225,962 | ▼ € 246,473 |
| Total debts | € 591,350 | € 2,301,270 | € 2,876,500 | € 4,539,258 | ▲ 58% |
| Cash | € 166,374 | € 68,383 | € 21,877 | € 25,825 | ▲ 18% |
| Retained profit | € 97,095 | € 116,364 | € -1,433 | € -246,518 | ▼ € 245,086 |
| Dividend | € 674,900 | € 0 | € 0 | € 0 | |
| Bank debt | € 303,318 | € 267,159 | € 233,436 | € 196,009 | ▼ 16% |
| Balance sheet total | € 707,045 | € 2,436,234 | € 2,897,011 | € 4,313,296 | ▲ 49% |
| Employees (FTE) | 3.7 | 298,413.5 | 5.1 | 4.6 | ▼ 0.5 |
Key figures of BELGIUM SR, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to BELGIUM SR?
What happened at BELGIUM SR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 245,086. Source: NBB ↗
- OKIMONO SRL stepped down as director. NBB
- EHL MANAGEMENT SCOMM stepped down as director. NBB
- OKIMONO SRL became a director. NBB
- EHL MANAGEMENT SCOMM became a director. NBB
- MICHEL CIGRANG became a director. NBB
- TAIL SCS became a director. NBB
- PHG ASSET MANAGEMENT SRL became a director. NBB
In short
From € 503,520 profit in 2021 to € 245,086 loss in 2024.
Paid € 28,324 in corporate taxes since 2021.
Best year ever: 2021, with € 503,520 profit.
On average € 0 of value added per employee in 2022.
A new publication or filing at BELGIUM SR? We notify you, reason included.
Follow BELGIUM SRDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of MACAN.GROUP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BELGIUM SRBehind BELGIUM SR are PHG ASSET MANAGEMENT SRL, MICHEL CIGRANG and TAIL SCS. The shares are held by MACAN.GROUP (100%). It owns 90% of MARRAKECH SR, 49% of Knokke, 49% of Antwerp SR and 49% of Brussels SR itself.
Directors
According to the 2024 annual accounts
Director · represented by PHILIPPE GILLION
Also active at: Macan PROPERTIES, Résidence Louise, Société de Transactions Immobilières et de Constructions, Comentri, Les Fermes de Matignolle, MD1 CENTER HOUSE, MACAN.GROUP, MACAN DEVELOPMENT +8 more
since 2022
MICHEL CIGRANG
Director
Also active at: WIELS CENTRE D'ARTS CONTEMPORAINS - CENTRUM VOOR HEDENDAAGSE KUNST, HAKONE, HUGE CAPITAL
since 2023
Director · represented by LAURENCE TAILLIEU
Also active at: ORAC, WHITE INVEST, IMMOTAI, POLDERWIND, Orac Holding, Inula
since 2023
Director · represented by SVEN JANSSENS
Also active at: Macan PROPERTIES, PARMENTIER DEVELOPMENT, MD1 CENTER HOUSE, MACAN.GROUP, MACAN DEVELOPMENT, SILICONE MARCHE, IMMO BERVOETS, SAULES INVEST +4 more
since 2024 · until 2025
Managing director · represented by ALEXIS LEBEDOFF
Also active at: ANTWERP SR, BRUSSELS SR, KNOKKE SR
since 2024 · until 2025
Shareholders
100%
Participations
Establishments
Establishment units
Physical locations of this company
Louizalaan 251
1050 Brussel
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 →Agrer
€ 7.1 million revenue · 2025
SETESCO Structural Engineers
€ 498,372 gross margin · 2025
Société de Transactions Immobilières et de Constructions same network
€ 2.3 million revenue · 2025
Comentri same network
€ 16,789 gross margin · 2025
SOMIBA
€ 463,349 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
- 0537.736.425
- VAT number
- BE 0537.736.425
- Registered office
- Louizalaan 251, 1050 Brussel
- Names & denominations
- BELGIUM SR
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 28 August 2013
- Peppol
- Active · Active since 5 Dec 2025
- Contact
- [email protected] 0488/60.80.73
- Activities · NACE
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering