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 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 60 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
GOLF DU HARAS from Pepinster, company number BE0880359033, closed financial year 2025 with a result of € 114,617 after tax. For that financial year GOLF DU HARAS recorded a gross margin of € 144,271 and equity of € -807,787. Compared with financial year 2024, the result moved from € -51,164 to € 114,617. Profitable, and profit is growing. 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 August 27, 2026.
€ -807,787
▼ € 53,713 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 114,617
▲ still € 51,164 loss in 2024
Profit after tax over the fiscal year.
€ 114,701
▲ 61% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
2.1
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 46,764
▲ 6% vs 2024
€ 22,300 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.
€ 6,449
▲ 115% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.5 million
▼ 13% vs 2024
Loans from banks and other lenders, long and short.
€ 34,481
▼ 25% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 79,974
▲ 13% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 132,139 | € 100,976 | € 139,923 | € 144,271 | ▲ 3% |
| Profit after taxes | € -30,028 | € -83,516 | € -51,164 | € 114,617 | ▲ € 165,780 |
| Equity | € -544,409 | € -665,418 | € -754,074 | € -807,787 | ▼ € 53,713 |
| Total debts | € 2,099,459 | € 2,122,062 | € 2,047,204 | € 1,870,062 | ▼ 9% |
| Cash | € 91,938 | € 130,037 | € 71,087 | € 114,701 | ▲ 61% |
| Land & buildings | € 1,269,396 | € 1,150,142 | € 1,052,607 | € 786,405 | ▼ 25% |
| Retained profit | € -1,025,932 | € -1,109,449 | € -1,160,613 | € -1,045,996 | ▲ € 114,617 |
| Bank debt | € 1,755,485 | € 1,770,621 | € 1,735,674 | € 1,506,906 | ▼ 13% |
| Balance sheet total | € 1,555,050 | € 1,456,644 | € 1,293,130 | € 1,062,275 | ▼ 18% |
| Employees (FTE) | 1.9 | 2.2 | 2.6 | 2.1 | ▼ 0.5 |
Key figures of GOLF DU HARAS, 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 GOLF DU HARAS?
What happened at GOLF DU HARAS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 114,617. filed late Source: NBB ↗
- Xavier COIBION became a director. NBB
- New establishment in Pepinster. KBO
- Christian ZANDONA became a director. NBB
- F. NOIRFALIZE ET FILS SRL became a director. NBB
- Start of the company according to the CBE. KBO
- Marc DE LIMBOURG became a director. NBB
In short
From € 30,028 loss in 2022 to € 114,617 profit in 2025.
Best year ever: 2025, with € 114,617 profit.
On average € 68,700 of value added per employee in 2025.
Management
Behind GOLF DU HARAS are Christian ZANDONA, F. NOIRFALIZE ET FILS SRL, Marc DE LIMBOURG and Xavier COIBION. F. NOIRFALIZE ET FILS SRL is also behind EMARCA.
Directors
According to the 2025 annual accounts
Christian ZANDONA
Managing director
since 2007
since 2007
Marc DE LIMBOURG
Director
since 2006
Xavier COIBION
Managing director
since 2024
Establishments
Establishment units
Physical locations of this company
Belle-Vue 2
4860 Pepinster
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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.
Website
Technologies
Hosting & Email
Email provider
one.com Mail
Hosting
ONECOM, DK
Website info
Features
Security
Network
Details
- Company number
- 0880.359.033
- VAT number
- BE 0880.359.033
- Registered office
- Belle-Vue 2, 4860 Pepinster
- Names & denominations
- GOLF DU HARAS
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 30 March 2006
- Peppol
- Active · Active since 2 Oct 2025
- Contact
- golfduharas.be
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