Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 2 to 0.9.
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Busy address KBO
28 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
PERTINEA PROPERTY PARTNERS from Merchtem, company number BE0832134591, closed financial year 2025 with a result of € 1.8 million after tax. For that financial year PERTINEA PROPERTY PARTNERS recorded a gross margin of € 1.1 million and equity of € 11 million. Compared with financial year 2024, the result moved from € 1.4 million to € 1.8 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 31, 2026.
€ 11 million
▲ 20% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.8 million
▲ 30% vs 2024
Profit after tax over the fiscal year.
€ 1.1 million
▲ € 1 million 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 € 10.9 million.
People and assets in 2025
0.9
▼ 0.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 86,518
▼ 10% 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.
€ 29,331
▼ 23% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.8 million
▲ 22% vs 2024
Loans from banks and other lenders, long and short.
€ 34,484
▼ 67% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 206,567
▼ 77% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,553,302 | € 1,241,296 | € 1,399,936 | € 1,092,705 | ▼ 22% |
| Profit after taxes | € 1,611,429 | € 1,293,964 | € 1,396,945 | € 1,814,545 | ▲ 30% |
| Equity | € 8,669,067 | € 9,963,031 | € 9,172,951 | € 10,987,495 | ▲ 20% |
| Total debts | € 3,479,870 | € 4,101,372 | € 6,224,156 | € 4,814,251 | ▼ 23% |
| Cash | € 173,677 | € 202,822 | € 76,823 | € 1,120,391 | ▲ € 1 million |
| Retained profit | € 8,569,067 | € 9,863,031 | € 9,072,951 | € 10,887,495 | ▲ 20% |
| Dividend | € 216,528 | € 0 | € 2,187,026 | € 0 | ▼ 100% |
| Bank debt | € 1,918,436 | € 2,412,564 | € 3,153,201 | € 3,837,694 | ▲ 22% |
| Balance sheet total | € 12,148,937 | € 14,064,403 | € 15,397,107 | € 15,801,746 | ▲ 3% |
| Employees (FTE) | 1.9 | 2 | 1.3 | 0.9 | ▼ 0.4 |
Key figures of PERTINEA PROPERTY PARTNERS, 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 PERTINEA PROPERTY PARTNERS?
What happened at PERTINEA PROPERTY PARTNERS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1.8 million (▲ 30% vs 2024). Source: NBB ↗
- Philip De Greve became a director. NBB
- Paul Borghgraef became a director. NBB
- New establishment in Merchtem. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.6 million profit in 2022 to € 1.8 million profit in 2025.
Paid € 2.5 million in corporate taxes since 2022.
Best year ever: 2025, with € 1.8 million profit.
On average € 1.1 million of value added per employee in 2024.
Management
Behind PERTINEA PROPERTY PARTNERS are Philip De Greve and Paul Borghgraef. It owns 100% of VML WES, 100% of VERALTIS, 100% of VMB LEBF, 100% of VML LEBB, 100% of Pertinea Fund Management III and 100% of VMB Ham itself.
Directors
According to the 2025 annual accounts
Philip De Greve
Director
Also active at: Hanodis, FLO - MAT - BOIS, EQGO, AAGE, RERO, REBR, REMA, DP PROPERTY +12 more
since 2022
Paul Borghgraef
Director
Also active at: PERTINEA FUND MANAGEMENT II, PERTINEA FUND MANAGEMENT, FINSBURY PROPERTIES
since 2022
Establishments
Establishment units
Physical locations of this company
Kleistraat 68
1785 Merchtem
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 →FLO - MAT - BOIS same network
€ 2 million gross margin · 2025
EQGO same network
€ 1.2 million gross margin · 2025
AAGE same network
€ 951,060 gross margin · 2025
RERO same network
€ 459,426 gross margin · 2025
REBR same network
€ 288,240 gross margin · 2025
+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
- 0832.134.591
- VAT number
- BE 0832.134.591
- Registered office
- Kleistraat 68, 1785 Merchtem
- Names & denominations
- PERTINEA PROPERTY PARTNERS · Pertinea-Pertinea Real Estate Investment Managers-Pertinea REIM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 December 2010
- Peppol
- Active · Active since 24 Sept 2025
- Activities · NACE
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