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 33 % of short-term debt in 2026; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 25 to 15.2.
Financials
Financial year 2026
THE CITY RENT from Malmedy, company number BE0872106511, closed financial year 2026 with a result of € 796 after tax. For that financial year THE CITY RENT recorded a gross margin of € 1.3 million and equity of € 503,384. Compared with financial year 2025, the result moved from € 85,600 to € 796. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 29, 2026.
€ 503,384
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 796
▼ 99% vs 2025
Profit after tax over the fiscal year.
€ 351,016
▲ 294% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2026. Retained profit grew to € 441,384.
People and assets in 2026
15.2
▼ 5.5 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 888,460
▼ 28% vs 2025
€ 58,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 18,934
▼ 35% vs 2025
Of which on lease € 7,734.
Debts at end 2026
€ 3.4 million
▲ 14% vs 2025
€ 673,845 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 1.2 million
▲ 251% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 174,779
▼ 42% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € 2,159,652 | € 1,814,301 | € 1,970,261 | € 1,258,333 | ▼ 36% |
| Profit after taxes | € 15,960 | € 20,288 | € 85,600 | € 796 | ▼ 99% |
| Equity | € 396,700 | € 416,988 | € 502,588 | € 503,384 | |
| Total debts | € 4,887,031 | € 4,162,710 | € 3,694,232 | € 4,868,384 | ▲ 32% |
| Cash | € 155,727 | € 131,992 | € 89,044 | € 351,016 | ▲ 294% |
| Land & buildings | € 1,319,597 | € 1,235,100 | € 1,150,590 | € 1,066,293 | ▼ 7% |
| Retained profit | € 334,700 | € 354,988 | € 440,588 | € 441,384 | |
| Bank debt | € 3,731,299 | € 3,218,676 | € 2,964,733 | € 3,388,526 | ▲ 14% |
| Balance sheet total | € 5,283,731 | € 4,579,698 | € 4,196,820 | € 5,371,769 | ▲ 28% |
| Employees (FTE) | 25.5 | 25 | 20.7 | 15.2 | ▼ 5.5 |
Key figures of THE CITY RENT, 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 THE CITY RENT?
What happened at THE CITY RENT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- GEHLEN MANAGEMENT SRL stepped down as director. NBB
- Pierre ZAHNEN stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 796 (▼ 99% vs 2025). Source: NBB ↗
- GEHLEN MANAGEMENT SRL became a director. NBB
- Pierre ZAHNEN became a director. NBB
- New establishment in Theux. KBO
- New establishment in Grâce-Hollogne. KBO
- New establishment in Malmedy. KBO
In short
From € 15,960 profit in 2023 to € 796 profit in 2026.
Paid € 82,581 in corporate taxes since 2023.
Best year ever: 2025, with € 85,600 profit.
On average € 82,800 of value added per employee in 2026.
Management
The stake of GEHLEN MANAGEMENT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
THE CITY RENTThe shares are held by GEHLEN MANAGEMENT (48.4%).
Directors
According to the 2026 annual accounts
Managing director · represented by Roger GEHLEN
Also active at: UNIMMO, GEHLEN IMMO, ETABLISSEMENTS PAULY - ANDRIANNE, COVEBAT, G-Bois, COMBLAIN MOTORS, ROGER GEHLEN, SERBI +27 more
since 2023 · until 2029
Pierre ZAHNEN
Director
since 2023 · until 2029
Shareholders
48.4%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Avenue du Pont de Warche 17
4960 Malmedy
Rue du Terril 6
4460 Grâce-Hollogne
Active since 19 June 2015
Chaussée de Verviers 181 box A
4910 Theux
Active since 8 April 2022
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0872.106.511
- VAT number
- BE 0872.106.511
- Registered office
- Avenue du Pont de Warche 17, 4960 Malmedy
- Names & denominations
- THE CITY RENT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 February 2005
- Peppol
- Active · Active since 20 Nov 2020
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