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 14 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 19.5 to 13.4.
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Busy address KBO
52 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
THE KEYS MANAGEMENT from Watermaal-Bosvoorde, company number BE0537802939, closed financial year 2025 with a result of € -144,723 after tax. For that financial year THE KEYS MANAGEMENT recorded a gross margin of € 719,326 and equity of € 131,866. Compared with financial year 2024, the result moved from € 50,751 to € -144,723. The company made a loss. The buffer shrank hard: equity is 52 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 10, 2026.
€ 131,866
▼ 52% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -144,723
▼ still € 50,751 profit in 2024
Profit after tax over the fiscal year.
€ 50,384
▲ 41% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 109,866.
People and assets in 2025
13.4
▼ 4.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 789,007
▼ 19% vs 2024
€ 58,900 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.
€ 2,354
▼ 47% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 94,577
▼ 69% vs 2024
Loans from banks and other lenders, long and short.
€ 618,999
▼ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 137,648
▼ 11% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,046,127 | € 1,160,229 | € 1,134,989 | € 719,326 | ▼ 37% |
| Profit after taxes | € 9,409 | € 31,737 | € 50,751 | € -144,723 | ▼ € 195,475 |
| Equity | € 194,101 | € 225,838 | € 276,589 | € 131,866 | ▼ 52% |
| Total debts | € 1,406,403 | € 1,286,224 | € 1,437,651 | € 1,348,602 | ▼ 6% |
| Cash | € 51,675 | € 78,715 | € 35,652 | € 50,384 | ▲ 41% |
| Retained profit | € 172,101 | € 203,838 | € 254,589 | € 109,866 | ▼ 57% |
| Bank debt | € 744,881 | € 527,233 | € 305,939 | € 94,577 | ▼ 69% |
| Balance sheet total | € 1,600,504 | € 1,512,062 | € 1,714,240 | € 1,480,468 | ▼ 14% |
| Employees (FTE) | - | 19.5 | 17.5 | 13.4 | ▼ 4.1 |
Key figures of THE KEYS MANAGEMENT, 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 THE KEYS MANAGEMENT?
What happened at THE KEYS MANAGEMENT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 144,723 (▼ € 195,475 vs 2024). Source: NBB ↗
- CHARLES BOURG MANAGEMENT became a director. NBB
- New establishment in Watermaal-Bosvoorde. KBO
- WADIH MANSOUR became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 9,409 profit in 2022 to € 144,723 loss in 2025.
Paid € 93,228 in corporate taxes since 2022.
Best year ever: 2024, with € 50,751 profit.
On average € 53,700 of value added per employee in 2025.
A new publication or filing at THE KEYS MANAGEMENT? We notify you, reason included.
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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
Behind THE KEYS MANAGEMENT are WADIH MANSOUR and CHARLES BOURG MANAGEMENT. It owns 100% of CITY MANAGEMENT BELGIUM, 100% of IDEL IMMO, 100% of BUREAU CONSEIL EMILE BERNARD, 100% of LUC DE PUTTER and 99.8% of AGENCE ET PROMOTION IMMOBILIERES itself.
Directors
According to the 2025 annual accounts
since 2013
Director · represented by Gaëtan CHOPIN
Also active at: AGENCE ET PROMOTION IMMOBILIERES, Luc DE PUTTER, BCH REAL ESTATE, HAVE A BEAR, IDEL IMMO, THE KEYS, THE KEYS WORKS, BCH & PARTNERS +3 more
since 2015
Establishments
Establishment units
Physical locations of this company
Terhulpsesteenweg 166
1170 Watermaal-Bosvoorde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 52 companies are registered at this address.
All companies at this address →HLB LEGAL SERVICES
€ 8,327 gross margin · 2025
Glaverbel
Chambre des Urbanistes de Belgique
IM Ultrasonic Belgium
€ -11,018 gross margin · 2025
AGENCE ET PROMOTION IMMOBILIERES same network
€ 28,264 gross margin · 2025
+47 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
- 0537.802.939
- VAT number
- BE 0537.802.939
- Registered office
- Terhulpsesteenweg 166, 1170 Watermaal-Bosvoorde
- Names & denominations
- THE KEYS MANAGEMENT
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 August 2013
- Peppol
- Active · Active since 9 Dec 2025
- Contact
- thekeys.be [email protected] 028527156
- Activities · NACE
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