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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Tight liquidity NBB
Cash and receivables cover 46 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
EXCELSIOR REAL ESTATE from Nazareth-De Pinte, company number BE0846340044, closed financial year 2026 with a result of € -59,399 after tax. For that financial year EXCELSIOR REAL ESTATE recorded a gross margin of € 161,689 and equity of € 347,626. Compared with financial year 2025, the result moved from € 6,416 to € -59,399. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 29, 2026.
€ 347,626
▼ 15% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -59,399
▼ still € 6,416 profit in 2025
Profit after tax over the fiscal year.
€ 109,668
▼ 20% vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 329,026.
People and assets in 2026
€ 2.1 million
▼ 6% vs 2025
Of which on lease € 2 million.
Debts at end 2026
€ 1.6 million
▼ 6% vs 2025
€ 94,580 is repaid this year. At this pace the long-term loan is gone in ≈ 17 years.
€ 6,875
▲ 71% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 10,040
▼ 28% vs 2025
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € 209,766 | € 214,572 | € 218,178 | € 161,689 | ▼ 26% |
| Profit after taxes | € 3,646 | € 6,346 | € 6,416 | € -59,399 | ▼ € 65,815 |
| Equity | € 381,863 | € 400,609 | € 407,025 | € 347,626 | ▼ 15% |
| Total debts | € 2,324,566 | € 2,303,425 | € 1,986,876 | € 1,892,314 | ▼ 5% |
| Cash | € 107,065 | € 187,796 | € 136,912 | € 109,668 | ▼ 20% |
| Land & buildings | € 22,774 | € 19,319 | € 15,863 | € 12,408 | ▼ 22% |
| Retained profit | € 375,663 | € 382,009 | € 388,425 | € 329,026 | ▼ 15% |
| Bank debt | € 1,891,600 | € 1,797,020 | € 1,702,440 | € 1,607,860 | ▼ 6% |
| Balance sheet total | € 2,706,429 | € 2,704,034 | € 2,393,901 | € 2,239,940 | ▼ 6% |
Key figures of EXCELSIOR REAL ESTATE, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to EXCELSIOR REAL ESTATE?
What happened at EXCELSIOR REAL ESTATE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: loss of € 59,399 (▼ € 65,815 vs 2025). Source: NBB ↗
- Incorporation, published in the Gazette. Source: Staatsblad ↗
- New establishment in Nazareth-De Pinte. KBO
In short
From € 3,646 profit in 2023 to € 59,399 loss in 2026.
Paid € 20,307 in corporate taxes since 2023.
Best year ever: 2025, with € 6,416 profit.
Management
Behind EXCELSIOR REAL ESTATE are Leen De Cnuydt and Bart Lafaut. The same people are also behind ALGEMENE ONDERNEMINGEN LAFAUT, Leli Projects, TOKARA and Stuivenberg Constructie. Bart Lafaut is also behind DE WIJNGAARD INVEST, Stuivenberg Grond, LAFAUT INVEST and LAFAUT ENTERPRISES.
Directors
According to the 2026 annual accounts
Leen De Cnuydt
Director
Also active at: ALGEMENE ONDERNEMINGEN LAFAUT, Leli Projects, TOKARA, Stuivenberg Constructie
Bart Lafaut
Director
Also active at: ALGEMENE ONDERNEMINGEN LAFAUT, Leli Projects, DE WIJNGAARD INVEST, TOKARA, Stuivenberg Grond, Stuivenberg Constructie, LAFAUT INVEST, LAFAUT ENTERPRISES
Establishments
Establishment units
Physical locations of this company
Plezierstraat 8A
9810 Nazareth-De Pinte
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Shareholders according to the Official Gazette deeds
Who contributed at incorporation and at capital increases, with the deed as source. Later share transfers are not published in the Gazette.
Incorporation
Source: Deed ↗- LAFAUT Bart Benoni Wilfried(oprichter) 50%
- DE CNUYDT Leen Irène Seraphine(oprichter) 50%
Details
- Company number
- 0846.340.044
- VAT number
- BE 0846.340.044
- Registered office
- Plezierstraat 8A, 9810 Nazareth-De Pinte
- Names & denominations
- EXCELSIOR REAL ESTATE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 4 June 2012
- Peppol
- Active · Active since 5 Jan 2026
- Activities · NACE
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