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 2 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 62 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2022.
Financials
Financial year 2025
THE HOUSE OF DEVELOPMENT from Antwerpen, company number BE0547666948, closed financial year 2025 with a result of € -411,113 after tax. For that financial year THE HOUSE OF DEVELOPMENT recorded a gross margin of € 34.9 million and equity of € -3.7 million. Compared with financial year 2024, the result moved from € -3.9 million to € -411,113. 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 August 31, 2026.
€ -3.7 million
▼ € 411,113 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -411,113
▲ 89 % less loss than in 2024
Profit after tax over the fiscal year.
€ 46,666
▼ 22% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -3.9 million.
People and assets in 2025
2.1
▲ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 172,087
▼ 7% vs 2024
€ 81,900 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.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 3.8 million
▼ 14% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 17,529
▼ 22% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 395,027 | € 3,939,757 | € 19,075,964 | € 34,948,897 | ▲ 83% |
| Profit after taxes | € -452,788 | € 92,836 | € -3,898,295 | € -411,113 | ▲ € 3.5 million |
| Equity | € 510,171 | € 603,006 | € -3,295,289 | € -3,706,402 | ▼ € 411,113 |
| Total debts | € 7,491,174 | € 13,389,948 | € 32,747,755 | € 14,171,735 | ▼ 57% |
| Cash | € 392,841 | € 127,386 | € 59,688 | € 46,666 | ▼ 22% |
| Land & buildings | € 86,077 | € 59,041 | € 30,890 | € 5,366 | ▼ 83% |
| Retained profit | € 298,171 | € 391,006 | € -3,507,289 | € -3,918,402 | ▼ € 411,113 |
| Balance sheet total | € 8,001,345 | € 13,992,955 | € 29,452,466 | € 10,465,333 | ▼ 64% |
| Employees (FTE) | 2.3 | 2 | 1.8 | 2.1 | ▲ 0.3 |
Key figures of THE HOUSE OF DEVELOPMENT, 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 HOUSE OF DEVELOPMENT?
What happened at THE HOUSE OF DEVELOPMENT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Royal Property Management NV stepped down as director. NBB
- Luk Wouters stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 411,113. filed late Source: NBB ↗
- Royal Property Management NV became a director. NBB
- Luk Wouters became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 452,788 loss in 2022 to € 411,113 loss in 2025.
Paid € 425 in corporate taxes since 2022.
Best year ever: 2023, with € 92,836 profit.
On average € 16.6 million of value added per employee in 2025.
A new publication or filing at THE HOUSE OF DEVELOPMENT? 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
The stake of MORGAN INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
THE HOUSE OF DEVELOPMENTThe shares are held by MORGAN INVEST (100%). It owns 100% of Bratislava Royal Properties, 100% of Royal Properties Development, 95% of Hourtin Promotion International SAS and 50% of Hoteland itself.
Directors
According to the 2025 annual accounts
Director · represented by Michael Lisman
Also active at: ROYAL PROPERTIES, MORGAN INVEST, PARK AVENUE, RING BUILDING, HR Ambiorix, WOLUWE CORNER PROPERTY, BESSENVELD 3, ANTWERPS KANTOREN VASTGOED +17 more
since 2024 · until 2030
Luk Wouters
Director
Also active at: ROYAL PROPERTIES, Immo Wouters, BESSENVELD 3, ANTWERPS KANTOREN VASTGOED, BESSENVELD 2, ROYAL PROPERTY MANAGEMENT, PROJECT VUURBERG, BESSENVELD 4 +6 more
since 2024 · until 2030
Shareholders
100%
Participations
Bratislava Royal Properties
100%
Royal Properties Development
100%
50%
Establishments
Establishment units
Physical locations of this company
Posthoflei 1 box 5
2600 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
DNS
OVH DNS
Domain
Domain
thodev.com
Registered
2013-10-25
Registrar
OVH sas
Expires
2026-10-25
Website info
Features
Security
Details
- Company number
- 0547.666.948
- VAT number
- BE 0547.666.948
- Registered office
- Posthoflei 1 bus 5, 2600 Antwerpen
- Names & denominations
- THE HOUSE OF DEVELOPMENT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 February 2014
- Peppol
- Active · Active since 3 Dec 2025
- Contact
- thodev.com
- Activities · NACE
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