Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 3 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 4.9 to 2.8.
Financials
Financial year 2025
Chapter George Develops from Harelbeke, company number BE0819836872, closed financial year 2025 with a result of € 138,050 after tax. For that financial year Chapter George Develops recorded revenue of € 8.5 million and equity of € 3.8 million. Compared with financial year 2024, the result moved from € 65,420 to € 138,050. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 3, 2026.
€ 3.8 million
▲ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 138,050
▲ 111% vs 2024
Profit after tax over the fiscal year.
€ 86,505
▼ 11% 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 € 3.5 million.
People and assets in 2025
2.8
▼ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 257,611
▲ 3% vs 2024
€ 92,000 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.
€ 16,941
▼ 25% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 5.1 million
▲ 11% vs 2024
Loans from banks and other lenders, long and short.
€ 973,709
▼ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 45 days on average.
€ 48,636
▼ 86% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 8,813,540 | € 10,984,594 | € 7,182,007 | € 8,477,262 | ▲ 18% |
| Profit after taxes | € 883,841 | € 911,456 | € 65,420 | € 138,050 | ▲ 111% |
| Equity | € 3,479,917 | € 3,591,373 | € 3,656,793 | € 3,794,843 | ▲ 4% |
| Total debts | € 4,184,579 | € 5,796,604 | € 6,986,726 | € 8,798,369 | ▲ 26% |
| Cash | € 183,043 | € 179,213 | € 97,274 | € 86,505 | ▼ 11% |
| Retained profit | € 3,179,917 | € 3,291,373 | € 3,356,793 | € 3,494,843 | ▲ 4% |
| Dividend | € 700,000 | € 800,000 | € 0 | € 0 | |
| Bank debt | € 1,754,477 | € 2,860,007 | € 4,590,522 | € 5,080,948 | ▲ 11% |
| Balance sheet total | € 7,664,496 | € 9,387,977 | € 10,643,518 | € 12,593,213 | ▲ 18% |
| Employees (FTE) | 5.6 | 4.9 | 3.1 | 2.8 | ▼ 0.3 |
Key figures of Chapter George Develops, 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 Chapter George Develops?
What happened at Chapter George Develops in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 138,050 (▲ 111% vs 2024). Source: NBB ↗
- D.S.R.T. NV became a director. NBB
- Indel Invest BV became a director. NBB
- Ulnate BV became a director. NBB
- New establishment in Harelbeke. KBO
- Start of the company according to the CBE. KBO
In short
From € 883,841 profit in 2022 to € 138,050 profit in 2025.
Paid € 687,431 in corporate taxes since 2022.
Best year ever: 2023, with € 911,456 profit.
Paid out € 1.5 million in dividends to the owners in total.
Management
The stake of Chapter George comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Chapter George DevelopsBehind Chapter George Develops are D.S.R.T. NV, Indel Invest BV and Ulnate BV. The shares are held by Chapter George (100%).
Directors
According to the 2025 annual accounts
Director · represented by Rita Tanghe
Also active at: VAN MAERCKE PREFAB, Bouw Georges Tanghe, ACAP, DECKX ELEKTRO MECHANICA, DESIRE STADSBADER, STV - TRANS, STADSBADER ROUTE, VASTGOED INVEST +15 more
since 2021
Managing director · represented by Stephanie Valcke
Also active at: Bouw Georges Tanghe, JACOPS, JACOPS SUD, CAPPAL, BLS, PROGEST IMMO, JAGERSHOF, LETSGO CITY +19 more
since 2021
Managing director · represented by Stefanie Vanden Broucke
Also active at: Chapter George, Chapter George Properties
since 2021
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Harpstraat 5 box 1
8530 Harelbeke
Kanaalstraat 1
8530 Harelbeke
Active since 7 October 2009
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 →ROC VASTGOED same network
€ 157,395 gross margin · 2025
JAGERSHOF same network
€ 54,314 gross margin · 2025
DEELvereniging van mede-eigenaars, Stad Harelbeke, Harpstraat 5 "Residentie Bistierland 1 Blok C"
Gr-Ont same network
€ 244,411 gross margin · 2025
Infra-Struct same network
€ -39,545 gross margin · 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
- 0819.836.872
- VAT number
- BE 0819.836.872
- Registered office
- Harpstraat 5 bus 1, 8530 Harelbeke
- Names & denominations
- Chapter George Develops
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 7 October 2009
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts
Activiteiten van bouwarchitecten
Activiteiten van syndici van onroerend goed
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
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