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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Busy address KBO
55 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Baltisse Real Estate from Gent, company number BE0866682528, closed financial year 2025 with a result of € -8.4 million after tax. For that financial year Baltisse Real Estate recorded revenue of € 652,233 and equity of € 271.8 million. Compared with financial year 2024, the result moved from € 49.2 million to € -8.4 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 4, 2026.
€ 271.8 million
▼ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -8.4 million
▼ still € 49.2 million profit in 2024
Profit after tax over the fiscal year.
€ 22.2 million
▲ 153% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2.5 million.
Debts at end 2025
€ 53.8 million
▲ 165% vs 2024
Loans from banks and other lenders, long and short.
€ 944,508
▼ 52% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 54 days on average.
€ 12,019
▼ 1% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 853,627 | € 617,190 | € 727,363 | € 652,233 | ▼ 10% |
| Profit after taxes | € 8,435,395 | € 70,267,320 | € 49,177,559 | € -8,383,714 | ▼ € 57.6 million |
| Equity | € 295,709,535 | € 277,976,854 | € 280,154,413 | € 271,770,699 | ▼ 3% |
| Total debts | € 91,045,826 | € 146,770,274 | € 69,788,080 | € 57,789,102 | ▼ 17% |
| Cash | € 6,183,318 | € 1,367,865 | € 8,791,875 | € 22,225,301 | ▲ 153% |
| Land & buildings | € 9,993,209 | € 9,324,735 | € 8,976,534 | € 17,053,483 | ▲ 90% |
| Retained profit | € 26,443,161 | € 8,710,481 | € 10,888,039 | € 2,504,325 | ▼ 77% |
| Dividend | € 0 | € 88,000,000 | € 47,000,000 | € 0 | ▼ 100% |
| Bank debt | € 87,487,600 | € 54,350,000 | € 20,291,000 | € 53,815,430 | ▲ 165% |
| Balance sheet total | € 386,755,360 | € 424,747,128 | € 349,942,493 | € 329,559,801 | ▼ 6% |
Key figures of Baltisse Real Estate, 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 Baltisse Real Estate?
What happened at Baltisse Real Estate in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Patrick VERBRUGGE stepped down as director. NBB
- Simon BALCAEN stepped down as director. NBB
- Catherine MATTON stepped down as director. NBB
- Filiep BALCAEN stepped down as director. NBB
- Louis BALCAEN stepped down as director. NBB
- Marc JANSSENS stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 8.4 million (▼ € 57.6 million vs 2024). filed late Source: NBB ↗
- Patrick VERBRUGGE became a director. NBB
In short
From € 8.4 million profit in 2022 to € 8.4 million loss in 2025.
Paid € 31,042 in corporate taxes since 2022.
Best year ever: 2023, with € 70.3 million profit.
Paid out € 135 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of BALTISSE, Floorenter comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Baltisse Real EstateThe shares are held by BALTISSE (59.9%) and Floorenter (40.1%). It owns 100% of COREC HOLDING, 100% of BALTISSE REAL ESTATE LUX, 100% of PARTICIMMO, 100% of GRIBA INVEST, 99.5% of VICTORIA REGINA HOLDING and 99.4% of BALTISSE REAL ESTATE INVESTMENTS itself.
Directors
According to the 2025 annual accounts
since 2022 · until 2028
Simon BALCAEN
Director
Also active at: VICTORIA REGINA, Well One, Victoria Regina Holding, Victoria Hotel Opco, Victoria Co-working Opco, SPEEDWELL, COSY, BALTISSE
since 2022 · until 2028
since 2022 · until 2028
Filiep BALCAEN
Managing director
Also active at: Huis te Lande, ARGIBEL, BUILDING, FLANDERS INTERNATIONAL AIRPORT, Marieposa, North Beach, Floorenter, LIEGE BECASSE +22 more
since 2022 · until 2028
Louis BALCAEN
Director
since 2022 · until 2028
Marc JANSSENS
Director
Also active at: ARGIBEL, Sharp Insurance Brokers, BUILDING, GRADA INTERNATIONAL, SERVINT, PHYTO-TECHNICS, Floorenter, LIEGE BECASSE +31 more
since 2022 · until 2028
Shareholders
59.9%
40.1%
Participations
COREC HOLDING
100%
BALTISSE REAL ESTATE LUX
100%
100%
GRIBA INVEST
100%
99.5%
97.6%
94.3%
93.7%
COBBLESTONE
90%
RECORD RESIDENTIAL SRL
82.6%
67.5%
67.1%
55.4%
50%
50%
50%
50%
50%
46.5%
CEDAR INVEST SRL
39.2%
PALTIM OFFICE SRL
39.2%
38.3%
38.3%
33.9%
26.6%
26.4%
STUDENT HOMES II SCSP SCAV-RAIF
22.3%
Establishments
Establishment units
Physical locations of this company
Pauline Van Pottelsberghelaan 10
9051 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 55 companies are registered at this address.
All companies at this address →Huis te Lande same network
€ -185,764 gross margin · 2025
ARGIBEL same network
€ 62,256 gross margin · 2025
BUILDING same network
€ 319,319 gross margin · 2025
Marieposa same network
€ -22,893 gross margin · 2025
North Beach same network
€ -34,684 gross margin · 2025
+50 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
- 0866.682.528
- VAT number
- BE 0866.682.528
- Registered office
- Pauline Van Pottelsberghelaan 10, 9051 Gent
- Names & denominations
- Baltisse Real Estate
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 August 2004
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen