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 1 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 22 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
BGV III BELGIUM from Brussel, company number BE0816794834, closed financial year 2025 with a result of € -3.1 million after tax. For that financial year BGV III BELGIUM recorded revenue of € 27,382 and equity of € -2.9 million. Compared with financial year 2024, the result moved from € -2.1 million to € -3.1 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 28, 2026.
€ -2.9 million
▼ € 3.1 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3.1 million
▼ 49 % more loss than in 2024
Profit after tax over the fiscal year.
€ 2 million
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -13.9 million.
Debts at end 2025
€ 14.3 million
▲ 24% vs 2024
€ 8 million is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 1.6 million
▲ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 903 days on average.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 3,083,177 | € 3,331,033 | € 2,084,029 | € 27,382 | ▼ 99% |
| Profit after taxes | € 1,784,117 | € -1,584,274 | € -2,061,784 | € -3,079,696 | ▼ € 1 million |
| Equity | € 3,806,004 | € 2,221,730 | € 159,946 | € -2,919,750 | ▼ € 3.1 million |
| Total debts | € 14,294,407 | € 13,661,931 | € 13,153,158 | € 15,813,372 | ▲ 20% |
| Cash | € 1,287,740 | € 701,711 | - | € 1,998,622 | |
| Land & buildings | € 16,647,494 | € 13,586,814 | € 10,087,199 | € 7,094,504 | ▼ 30% |
| Retained profit | € -7,155,496 | € -8,739,770 | € -10,801,554 | € -13,881,250 | ▼ € 3.1 million |
| Bank debt | € 12,500,000 | € 11,318,946 | € 11,532,232 | € 14,251,104 | ▲ 24% |
| Balance sheet total | € 18,100,411 | € 15,883,661 | € 13,313,104 | € 12,893,622 | ▼ 3% |
Key figures of BGV III BELGIUM, 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 BGV III BELGIUM?
What happened at BGV III BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- ESTATE SRL stepped down as director. NBB
- NICOLAS ORTS SRL stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 3.1 million. Source: NBB ↗
- ZOU2 SRL stepped down as director. NBB
- ESTATE SRL became a director. NBB
- ZOU2 SRL became a director. NBB
- NICOLAS ORTS SRL became a director. NBB
- New establishment in Elsene. KBO
In short
From € 1.8 million profit in 2022 to € 3.1 million loss in 2025.
Paid € 824,474 in corporate taxes since 2022.
Best year ever: 2022, with € 1.8 million profit.
A new publication or filing at BGV III BELGIUM? 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 shares are held by YPSO BGV HOLDING SA (100%).
Directors
According to the 2025 annual accounts
Director · represented by Gaetan CLERMONT
Also active at: La Tourmaline, ELYX, Eaglestone Services, FONCIERE DU SOUVERAIN, VIC-WIN, HAMOIR 14, BEMAP IMMO, D-IMMO +32 more
since 2022 · until 2028
Director · represented by Sophie LAMBRIGHS
Also active at: NATIONALE IMMOBILIENVENNOOTSCHAP VAN HET BOUWBEDRIJF, La Tourmaline, ELYX, Eaglestone Services, FONCIERE DU SOUVERAIN, VIC-WIN, HAMOIR 14, BEMAP IMMO +34 more
since 2022 · until 2025
Director · represented by Nicolas ORTS
Also active at: NATIONALE IMMOBILIENVENNOOTSCHAP VAN HET BOUWBEDRIJF, La Tourmaline, ELYX, Eaglestone Services, FONCIERE DU SOUVERAIN, VIC-WIN, HAMOIR 14, BEMAP IMMO +30 more
since 2022 · until 2028
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Louizalaan 480
1050 Brussel
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0816.794.834
- VAT number
- BE 0816.794.834
- Registered office
- Louizalaan 480, 1050 Brussel
- Names & denominations
- BGV III BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 July 2009
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen