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 29 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Opco 2 Bruges from Sint-Gillis (bij-Brussel), company number BE0786977430, closed financial year 2025 with a result of € -2.6 million after tax. For that financial year Opco 2 Bruges recorded revenue of € 10.4 million and equity of € -7 million. Compared with financial year 2024, the result moved from € -2.7 million to € -2.6 million. 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 8, 2026.
€ -7 million
▼ € 2.6 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.6 million
▲ 5 % less loss than in 2024
Profit after tax over the fiscal year.
€ 1.7 million
▲ 31% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -7.1 million.
People and assets in 2025
73.9
▲ 3.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.2 million
▲ 8% vs 2024
€ 43,800 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.
€ 1.6 million
▼ 46% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 21.3 million
▲ 28% vs 2024
Loans from banks and other lenders, long and short.
€ 779,264
▼ 69% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 45 days on average.
€ 497,468
▼ 9% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 7,534,383 | € 10,388,872 | ▲ 38% |
| Gross margin | € 1,243,831 | € 2,720,537 | - | - | |
| Profit after taxes | € -158,623 | € -1,584,614 | € -2,719,139 | € -2,596,748 | ▲ € 122,391 |
| Equity | € -97,123 | € -1,681,737 | € -4,400,876 | € -6,997,624 | ▼ € 2.6 million |
| Total debts | € 7,740,417 | € 9,926,187 | € 22,652,386 | € 28,668,965 | ▲ 27% |
| Cash | € 3,255,233 | € 3,133,776 | € 1,314,818 | € 1,725,138 | ▲ 31% |
| Land & buildings | - | € 18,314 | € 11,229,012 | € 16,118,944 | ▲ 44% |
| Retained profit | € -158,623 | € -1,743,237 | € -4,462,376 | € -7,059,124 | ▼ € 2.6 million |
| Bank debt | € 3,800,158 | € 6,500,009 | € 16,596,000 | € 21,316,000 | ▲ 28% |
| Balance sheet total | € 7,643,294 | € 8,244,450 | € 18,251,510 | € 21,671,341 | ▲ 19% |
| Employees (FTE) | 15.3 | 72 | 70.1 | 73.9 | ▲ 3.8 |
Key figures of Opco 2 Bruges, 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 Opco 2 Bruges?
What happened at Opco 2 Bruges in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Covivio Hotels Belgique SA stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 2.6 million. Source: NBB ↗
- Covivio Hotels Belgique SA became a director. NBB
- New establishment in Brugge. KBO
- New establishment in Brugge. KBO
- Start of the company according to the CBE. KBO
In short
From € 158,623 loss in 2022 to € 2.6 million loss in 2025.
Paid € 1,161 in corporate taxes since 2022.
On average € 37,800 of value added per employee in 2023.
Pays suppliers within 45 days on average.
Management
The shares are held by Constance Lux 2 (100%).
Directors
According to the 2025 annual accounts
Director · represented by GUYON Marie
Also active at: Sunparks Oostduinkerke, Foncière Kempense Meren, AIRPORT GARDEN HOTEL, Foncière Diegem, EXCO HOTEL KVK, INVEST HOTEL KVK, Tulipe Holding Belgique, Narcisse Holding Belgique +28 more
since 2024 · until 2030
Shareholders
Constance Lux 2
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Engelandstraat 2 box 20
1060 Sint-Gillis (bij-Brussel)
Katelijnestraat 65/B
8000 Brugge
Active since 9 June 2022
Katelijnestraat 65A
8000 Brugge
Active since 9 June 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →Groen Brugge Hotel same network
€ 1.6 million gross margin · 2025
Ulysse OpCo Belgium
Phoenix OpCo Belgium
Iris OpCo Belgium
Covivio Hotels Belgique same network
€ 2.9 million revenue · 2025
+1 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
- 0786.977.430
- VAT number
- BE 0786.977.430
- Registered office
- Engelandstraat 2 bus 20, 1060 Sint-Gillis (bij-Brussel)
- Names & denominations
- Opco 2 Bruges
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 9 June 2022
- Peppol
- Active · Active since 7 Jan 2026
- Activities · NACE
Hotels en dergelijke accommodatie