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 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 51 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Zest Real Estate Development from Nivelles, company number BE0566927287, closed financial year 2025 with a result of € -13,993 after tax. For that financial year Zest Real Estate Development recorded a gross margin of € 26,251 and equity of € -37,884. Compared with financial year 2024, the result moved from € 22,056 to € -13,993. 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 July 16, 2026.
€ -37,884
▼ € 13,993 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -13,993
▼ still € 22,056 profit in 2024
Profit after tax over the fiscal year.
€ 5,839
▼ 65% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -50,284.
People and assets in 2025
0.9
▼ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 35,535
▼ 37% vs 2024
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.
€ 64,632
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 10,982
▲ 34% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 23,628 | € 25,402 | € 81,479 | € 26,251 | ▼ 68% |
| Profit after taxes | € -31,586 | € -33,232 | € 22,056 | € -13,993 | ▼ € 36,049 |
| Equity | € -12,716 | € -45,948 | € -23,892 | € -37,884 | ▼ € 13,993 |
| Total debts | € 299,695 | € 339,189 | € 183,398 | € 173,171 | ▼ 6% |
| Cash | - | € 10,931 | € 16,480 | € 5,839 | ▼ 65% |
| Retained profit | € -25,116 | € -58,348 | € -36,292 | € -50,284 | ▼ € 13,993 |
| Balance sheet total | € 286,979 | € 293,241 | € 159,506 | € 135,287 | ▼ 15% |
| Employees (FTE) | 1 | - | 1 | 0.9 | ▼ 0.1 |
Key figures of Zest Real Estate 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 Zest Real Estate Development?
What happened at Zest Real Estate Development in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 13,993 (▼ € 36,049 vs 2024). Source: NBB ↗
- The Merchant'S Counsellors Ltd SA became a director. NBB
- Gecok SA became a director. NBB
- Zwijnaarde SA became a director. NBB
- New establishment in Nivelles. KBO
- Start of the company according to the CBE. KBO
In short
From € 31,586 loss in 2022 to € 13,993 loss in 2025.
Best year ever: 2024, with € 22,056 profit.
On average € 81,500 of value added per employee in 2024.
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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 Active Belgian Land Investment, GECOK, The Merchant's Counsellors Ltd, ZWIJNAARDE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Zest Real Estate DevelopmentBehind Zest Real Estate Development are The Merchant'S Counsellors Ltd SA, Gecok SA and Zwijnaarde SA. The shares are held by Active Belgian Land Investment (38%), GECOK (37%), The Merchant's Counsellors Ltd (15%) and ZWIJNAARDE (10%).
Directors
According to the 2025 annual accounts
The Merchant'S Counsellors Ltd SA
Director · represented by Philip Vanmarcke
Also active at: NIMOINVEST, Active Belgian Land Investment, Lokeren E17, NEW MZ AALST, IMMO COUILLET
since 2024
Director · represented by Marie Sibylle Koll
Also active at: The Merchant's Counsellors Ltd, MEUBELWEELDE 2000, NIMOINVEST, BOUWPROMOTIE PLUS, IMMO DGL, CAP FIELD, Building Solar Invest, NEW MZ AALST +2 more
since 2024
since 2024
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Sainte-Barbe 140a
1400 Nivelles
Rue Sainte-Barbe 140A
1400 Nivelles
Active since 29 October 2014
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0566.927.287
- VAT number
- BE 0566.927.287
- Registered office
- Rue Sainte-Barbe 140a, 1400 Nivelles
- Names & denominations
- Zest Real Estate Development · Zest.RED
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 29 October 2014
- Peppol
- Active · Active since 12 Dec 2025
- Activities · NACE
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