Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
79 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
CONDOR BIDCO from Brussel, company number BE0770665493, closed financial year 2025 with a result of € -6.3 million after tax. For that financial year CONDOR BIDCO recorded revenue of € 678,676 and equity of € 124.9 million. Compared with financial year 2024, the result moved from € -4.9 million to € -6.3 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 11, 2026.
€ 124.9 million
▼ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -6.3 million
▼ 29 % more loss than in 2024
Profit after tax over the fiscal year.
€ 125,244
▲ 70% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -30.5 million.
People and assets in 2025
1.7
▲ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 128,899
▲ 38% vs 2024
€ 75,800 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
€ 48.1 million
▲ 25% vs 2024
Loans from banks and other lenders, long and short.
€ 33,166
▲ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 11 days on average.
€ 82,492
▼ 28% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,992,340 | € 2,263,909 | € 2,386,152 | € 678,676 | ▼ 72% |
| Profit after taxes | € -3,472,989 | € -4,339,266 | € -4,868,215 | € -6,263,396 | ▼ € 1.4 million |
| Equity | € 140,420,631 | € 136,081,366 | € 131,213,151 | € 124,949,755 | ▼ 5% |
| Total debts | € 31,181,898 | € 34,006,072 | € 38,939,191 | € 53,283,931 | ▲ 37% |
| Cash | € 1,009,540 | € 268,674 | € 73,743 | € 125,244 | ▲ 70% |
| Retained profit | € -15,004,094 | € -19,343,359 | € -24,211,574 | € -30,474,971 | ▼ € 6.3 million |
| Bank debt | € 29,665,246 | € 33,467,543 | € 38,325,054 | € 48,083,596 | ▲ 25% |
| Balance sheet total | € 171,602,530 | € 170,087,438 | € 170,152,342 | € 178,233,685 | ▲ 5% |
| Employees (FTE) | 1.7 | 2.5 | 1.2 | 1.7 | ▲ 0.5 |
Key figures of CONDOR BIDCO, 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 CONDOR BIDCO?
What happened at CONDOR BIDCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 6.3 million. Source: NBB ↗
- HoldingPad S. Etr. became a director. NBB
- Mogens ELSBERG became a director. NBB
- Elaia Partners S. Etr. became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
- Jeremy NAKACHE became a director. NBB
In short
From € 3.5 million loss in 2022 to € 6.3 million loss in 2025.
Pays suppliers within 11 days on average.
A new publication or filing at CONDOR BIDCO? 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 CONDOR HOLDCO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CONDOR BIDCOBehind CONDOR BIDCO are HoldingPad S. Etr., Jeremy NAKACHE, Mogens ELSBERG and Elaia Partners S. Etr.. The shares are held by CONDOR HOLDCO (100%). It owns 100% of Rocket Finance and 0% of Condor Holdco itself.
Directors
According to the 2025 annual accounts
Administrator-manager · represented by Pierre-Antoine Dusoulier
Also active at: CONDOR HOLDCO, CONDOR FINCO, Condor 1, Condor 2, Condor 3, Condor 4
since 2021
since 2021
since 2021
Director · represented by Xavier Sébastien Lazarus
Also active at: Rocket Finance, CONDOR HOLDCO, Stellaris
since 2021
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Louizalaan 489
1050 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 79 companies are registered at this address.
All companies at this address →Editions Commerciales et Industrielles
The American Women's Club of Brussels
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0770.665.493
- VAT number
- BE 0770.665.493
- Registered office
- Louizalaan 489, 1050 Brussel
- Names & denominations
- CONDOR BIDCO
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 2 July 2021
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Activiteiten van holdings
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Holdings
Handel in eigen onroerend goed