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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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.
Financials
Financial year 2025
PHG ASSET MANAGEMENT from Elsene, company number BE0866158926, closed financial year 2025 with a result of € -2.1 million after tax. For that financial year PHG ASSET MANAGEMENT recorded revenue of € 72,000 and equity of € -297,644. Compared with financial year 2024, the result moved from € -657,373 to € -2.1 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 October 5, 2026.
€ -297,644
▼ € 2.1 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.1 million
▼ 218 % more loss than in 2024
Profit after tax over the fiscal year.
€ 166,029
▲ € 138,298 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -6 million.
People and assets in 2025
€ 68
▼ 94% 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.
€ 5,933
▼ 29% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 15.3 million
▲ 18% vs 2024
€ 674,237 is repaid this year. At this pace the long-term loan is gone in ≈ 22 years.
€ 164,208
▲ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 137 days on average.
€ 60,023
▼ 12% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 41,967 | € 43,959 | € 72,000 | € 72,000 | |
| Profit after taxes | € 339,141 | € -1,422,525 | € -657,373 | € -2,087,216 | ▼ € 1.4 million |
| Equity | € 3,869,470 | € 2,446,945 | € 1,789,571 | € -297,644 | ▼ € 2.1 million |
| Total debts | € 33,161,972 | € 30,898,742 | € 35,182,648 | € 38,457,029 | ▲ 9% |
| Cash | € 493,999 | € 13,946 | € 27,731 | € 166,029 | ▲ € 138,298 |
| Land & buildings | € 5,639,063 | € 5,622,830 | € 5,426,349 | € 5,225,800 | ▼ 4% |
| Retained profit | € -1,880,530 | € -3,303,055 | € -3,960,429 | € -6,047,644 | ▼ € 2.1 million |
| Bank debt | € 10,710,759 | € 13,339,087 | € 12,988,681 | € 15,344,749 | ▲ 18% |
| Balance sheet total | € 37,093,552 | € 33,462,645 | € 36,986,249 | € 38,159,385 | ▲ 3% |
Key figures of PHG ASSET MANAGEMENT, 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 PHG ASSET MANAGEMENT?
What happened at PHG ASSET MANAGEMENT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 2.1 million. filed late Source: NBB ↗
- PHILIPPE GILLION became a director. NBB
- ANNEMIEKE HARDEMAN became a director. NBB
- New establishment in Ukkel. KBO
- Start of the company according to the CBE. KBO
In short
From € 339,141 profit in 2022 to € 2.1 million loss in 2025.
Paid € 475,636 in corporate taxes since 2022.
Best year ever: 2022, with € 339,141 profit.
Pays suppliers within 137 days on average.
Management
Behind PHG ASSET MANAGEMENT are PHILIPPE GILLION and ANNEMIEKE HARDEMAN. It owns 100% of MACAN.GROUP, 99% of MGH, 0.2% of MD2 RE, 0.2% of MD4 RE, 0.2% of MD3 RE and 0.1% of MACAN DEVELOPMENT itself.
Directors
According to the 2025 annual accounts
PHILIPPE GILLION
Director
Also active at: Macan PROPERTIES, Résidence Louise, Société de Transactions Immobilières et de Constructions, Comentri, PARMENTIER DEVELOPMENT, Les Fermes de Matignolle, MD1 CENTER HOUSE, MACAN.GROUP +17 more
since 2024
ANNEMIEKE HARDEMAN
Director
Also active at: Résidence Louise, Comentri, Les Fermes de Matignolle, MACAN.GROUP, FONCIERE LA HÊTRAIE, LABEL of EXCELLENCE for appropriate development, MGH
since 2024
Establishments
Establishment units
Physical locations of this company
Louizalaan 251
1050 Elsene
Korporaaldreef 43
1180 Ukkel
Active since 6 July 2004
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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.
Details
- Company number
- 0866.158.926
- VAT number
- BE 0866.158.926
- Registered office
- Louizalaan 251, 1050 Elsene
- Names & denominations
- PHG ASSET MANAGEMENT
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 5 July 2004
- Peppol
- Active · Active since 5 Dec 2025
- Activities · NACE
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