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 3 of the last 4 fiscal years.
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Busy address KBO
28 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
FJORD REAL ESTATE DEVELOPMENT from Brugge, company number BE0755460249, closed financial year 2025 with a result of € 11,924 after tax. For that financial year FJORD REAL ESTATE DEVELOPMENT recorded a gross margin of € 77,883 and equity of € -10,116. Compared with financial year 2024, the result moved from € 66,262 to € 11,924. The company is profitable. 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 May 14, 2026.
€ -10,116
▲ € 11,924 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 11,924
▼ 82% vs 2024
Profit after tax over the fiscal year.
€ 7,536
▼ 57% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -110,116.
People and assets in 2025
0.8
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 32,505
▼ 26% 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.
€ 74,518
▼ 33% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 58,452
▼ 52% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 3,458
▼ 96% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 169,664 | € -121,452 | € 154,529 | € 77,883 | ▼ 50% |
| Profit after taxes | € 114,067 | € -148,284 | € 66,262 | € 11,924 | ▼ 82% |
| Equity | € 59,982 | € -88,302 | € -22,040 | € -10,116 | ▲ € 11,924 |
| Total debts | € 859,639 | € 1,031,144 | € 856,706 | € 241,941 | ▼ 72% |
| Cash | € 620,574 | € 122,354 | € 17,699 | € 7,536 | ▼ 57% |
| Retained profit | € -40,018 | € -188,302 | € -122,040 | € -110,116 | ▲ € 11,924 |
| Dividend | € 20,000 | € 0 | € 0 | € 0 | |
| Balance sheet total | € 919,621 | € 942,842 | € 834,665 | € 231,825 | ▼ 72% |
| Employees (FTE) | - | 0.2 | 1.3 | 0.8 | ▼ 0.5 |
Key figures of FJORD 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 FJORD REAL ESTATE DEVELOPMENT?
What happened at FJORD REAL ESTATE DEVELOPMENT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Sea Side Investment Company BV stepped down as director. NBB
- Michiel Deman stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 11,924 (▼ 82% vs 2024). Source: NBB ↗
- ABZ BV stepped down as director. NBB
- Brussels Development Company NV stepped down as director. NBB
- Sea Side Investment Company BV became a director. NBB
- Michiel Deman became a director. NBB
- New establishment in Brugge. KBO
In short
From € 114,067 profit in 2022 to € 11,924 profit in 2025.
Paid € 534 in corporate taxes since 2022.
Best year ever: 2022, with € 114,067 profit.
On average € 118,900 of value added per employee in 2024.
Management
The stake of EXCELSIOR IC comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
FJORD REAL ESTATE DEVELOPMENTThe shares are held by EXCELSIOR IC (91%).
Directors
According to the 2025 annual accounts
Managing director · represented by Artour Bezdenejnykh
Also active at: BRUSSELS DEVELOPMENT COMPANY
since 2020 · until 2026
Sea Side Investment Company BV
Managing director · represented by Aline Verbeke
Also active at: COASTAL SALES COMPANY, Las Brisas
since 2022 · until 2028
since 2022 · until 2028
Brussels Development Company NV
Managing director · represented by Joachim Debucquoy
since 2020 · until 2026
Shareholders
91%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Monnikenwerve 17-19
8000 Brugge
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 28 companies are registered at this address.
All companies at this address →EXPLOITATIEMAATSCHAPPIJ MO
€ 1.5 million gross margin · 2025
DORMA HUPPE
SOFIEC
JOYCE INVEST
€ 624,614 gross margin · 2025
LIBERAAL VERBOND VOOR ZELFSTANDIGEN - TREFPUNT BRUGGE
+23 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
- 0755.460.249
- VAT number
- BE 0755.460.249
- Registered office
- Monnikenwerve 17-19, 8000 Brugge
- Names & denominations
- FJORD REAL ESTATE DEVELOPMENT · FJORD RED · FJORD
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 September 2020
- Peppol
- Active · Active since 21 Oct 2026
- 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 syndici van onroerend goed
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Ontwikkeling van residentiële bouwprojecten
Overige zakelijke dienstverlening, neg