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 4 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 3 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
City Development Group from Antwerpen, company number BE0738429524, closed financial year 2025 with a result of € -52,791 after tax. For that financial year City Development Group recorded a gross margin of € -8,997 and equity of € -246,563. Compared with financial year 2024, the result moved from € -49,435 to € -52,791. 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 27, 2026.
€ -246,563
▼ € 52,791 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -52,791
▼ 7 % more loss than in 2024
Profit after tax over the fiscal year.
€ 2,308
▼ 44% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -256,563.
Debts at end 2025
€ 547,561
▲ 10% vs 2024
Loans from banks and other lenders, long and short.
€ 22,991
▲ 62% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 11,103 | € -13,058 | € -7,022 | € -8,997 | ▼ € 1,974 |
| Profit after taxes | € -41,275 | € -61,114 | € -49,435 | € -52,791 | ▼ € 3,356 |
| Equity | € -83,222 | € -144,336 | € -193,772 | € -246,563 | ▼ € 52,791 |
| Total debts | € 635,864 | € 734,802 | € 941,059 | € 1,074,041 | ▲ 14% |
| Cash | € 3,115 | € 3,083 | € 4,158 | € 2,308 | ▼ 44% |
| Land & buildings | € 120,411 | € 120,046 | € 115,473 | € 110,900 | ▼ 4% |
| Retained profit | € -93,222 | € -154,336 | € -203,772 | € -256,563 | ▼ € 52,791 |
| Bank debt | € 404,501 | € 404,631 | € 499,690 | € 547,561 | ▲ 10% |
| Balance sheet total | € 552,642 | € 590,466 | € 747,288 | € 827,479 | ▲ 11% |
| Employees (FTE) | 1 | 0.1 | - | - |
Key figures of City Development Group, 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 City Development Group?
What happened at City Development Group in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 52,791. filed late Source: NBB ↗
- Glenn Versieck stepped down as director. NBB
- Xavier Painblanc became a director. NBB
- New establishment in Antwerpen. KBO
- Robert Van de Velde became a director. NBB
- Glenn Versieck became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 41,275 loss in 2022 to € 52,791 loss in 2025.
Paid € 261 in corporate taxes since 2022.
On average € 11,100 of value added per employee in 2022.
A new publication or filing at City Development Group? 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 Bermaso comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
City Development GroupBehind City Development Group are Robert Van de Velde and Xavier Painblanc. The shares are held by Bermaso (40%).
Directors
According to the 2025 annual accounts
since 2019
Xavier Painblanc
Director
Also active at: hoeve loteling, BBQ'tje, Bouw & Promotie Jordaenskaai, Kroket Loket, BOUW & PROMOTIE WOONHOF AAN DE LEIE NV, Bouw & Promotie Graanmarkt, XaMa, BOUW & PROMOTIE ANTVERPIA NV +1 more
since 2021
Glenn Versieck
Director
since 2019 · until 2024
Shareholders
40%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Grotesteenweg 455
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.
Details
- Company number
- 0738.429.524
- VAT number
- BE 0738.429.524
- Registered office
- Grotesteenweg 455, 2600 Antwerpen
- Names & denominations
- City Development Group · CDG
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 26 November 2019
- Peppol
- Active · Active since 15 Sept 2025
- Activities · NACE
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