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 22 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Estate Merchant Investments from Liège, company number BE0860983381, closed financial year 2025 with a result of € -63,843 after tax. For that financial year Estate Merchant Investments recorded a gross margin of € -11,076 and equity of € 560,032. Compared with financial year 2024, the result moved from € 545,810 to € -63,843. 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 August 31, 2026.
€ 560,032
▼ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -63,843
▼ still € 545,810 profit in 2024
Profit after tax over the fiscal year.
€ 1
▼ 92% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 532,532.
People and assets in 2025
€ 15,800
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.3 million
▲ 1% vs 2024
Loans from banks and other lenders, long and short.
€ 310,281
▲ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 200,035
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 101,361 | € 201,854 | € 1,068,986 | € -11,076 | ▼ € 1.1 million |
| Profit after taxes | € 57,659 | € 26,178 | € 545,810 | € -63,843 | ▼ € 609,652 |
| Equity | € 51,887 | € 78,065 | € 623,874 | € 560,032 | ▼ 10% |
| Total debts | € 3,472,631 | € 3,409,469 | € 2,570,677 | € 2,879,286 | ▲ 12% |
| Cash | € 4,275 | € 5 | € 15 | € 1 | ▼ 92% |
| Retained profit | € 24,387 | € 50,565 | € 596,374 | € 532,532 | ▼ 11% |
| Bank debt | € 2,227,396 | € 2,392,372 | € 1,314,389 | € 1,322,285 | ▲ 1% |
| Balance sheet total | € 3,524,518 | € 3,487,534 | € 3,194,552 | € 3,439,318 | ▲ 8% |
By gross margin, Estate Merchant Investments ranks 71st of 85 companies with main activity “Ontwikkeling van residentiële bouwprojecten” in Liège that publish figures (fiscal year 2025).
Key figures of Estate Merchant Investments, 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.
Ask about Estate Merchant Investments the way you would ask their accountant.
Answers from the filed annual accounts, the Belgian Official Gazette and the CBE register.
Connect ChatGPT or Claude for free- ChatGPT
- Claude
Free account, no payment card. Key figures unlimited, the annual accounts and deeds of 10 companies a month. Need more? Get in touch, we are looking for our first pilot users.
What happened to Estate Merchant Investments?
What happened at Estate Merchant Investments in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 63,843 (▼ € 609,652 vs 2024). filed late Source: NBB ↗
- Tonny Daenen became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Liège. KBO
In short
From € 57,659 profit in 2022 to € 63,843 loss in 2025.
Paid € 271,275 in corporate taxes since 2022.
Best year ever: 2024, with € 545,810 profit.
Management
Behind Estate Merchant Investments is Tonny Daenen. It owns 100% of Green Golf Real Estate itself.
Directors
According to the 2025 annual accounts
Tonny Daenen
Director
since 2020
Establishments
Establishment units
Physical locations of this company
Rue des Petites-Roches 113 box 3
4000 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Similar companies in Liège
Same main activity (Ontwikkeling van residentiële bouwprojecten), 98 active companies in Liège, largest first.
€ 2.6 million gross margin · 2025
SOCIETE LIEGEOISE DE CONSTRUCTION SOLICO
€ 1.5 million gross margin · 2024
€ 1.2 million gross margin · 2025
SOCIETE MIXTE DE DEVELOPPEMENT IMMOBILIER
€ 989,199 revenue · 2025
€ 648,026 gross margin · 2025
€ 375,736 gross margin · 2025
Details
- Company number
- 0860.983.381
- VAT number
- BE 0860.983.381
- Registered office
- Rue des Petites-Roches 113 bus 3, 4000 Liège
- Names & denominations
- EMI · Estate Merchant Investments
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 October 2003
- Peppol
- Active · Active since 30 Jan 2026
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Projectontwikkeling voor woningbouw
Groothandel in auto's en lichte bestelwagens (<= 3,5 ton)
Groothandel in auto's en lichte bestelwagens (= 3,5 ton)