Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2023 and 2024.
-
Shrinking team NBB
FTE fell two years in a row, from 20 to 17.3.
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Busy address KBO
79 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2024
INTERNATIONAL REAL ESTATE SERVICES from Ieper, company number BE0886354821, closed financial year 2024 with a result of € -38.5 million after tax. For that financial year INTERNATIONAL REAL ESTATE SERVICES recorded revenue of € 3.2 million and equity of € -157.2 million. Compared with financial year 2023, the result moved from € -104.2 million to € -38.5 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 July 17, 2025.
€ -157.2 million
▼ € 38.5 million vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -38.5 million
▲ 63 % less loss than in 2023
Profit after tax over the fiscal year.
€ 602,938
▼ 23% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -157.2 million.
People and assets in 2024
17.3
▼ 0.7 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 1.9 million
▼ 8% vs 2023
€ 108,400 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.
€ 99,666
▼ 53% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 5.1 million
▼ 29% vs 2023
€ 3.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 2.2 million
▼ 22% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 162 days on average.
€ 2.7 million
▲ 133% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | € 2,443,582 | € 2,973,952 | € 2,707,746 | € 3,208,520 | ▲ 18% |
| Profit after taxes | € -4,992,551 | € -14,974,365 | € -104,208,750 | € -38,545,299 | ▲ € 65.7 million |
| Equity | € 568,885 | € -14,405,481 | € -118,614,231 | € -157,159,530 | ▼ € 38.5 million |
| Total debts | € 311,725,978 | € 355,908,169 | € 366,103,775 | € 400,148,194 | ▲ 9% |
| Cash | € 293,811 | € 123,813 | € 781,010 | € 602,938 | ▼ 23% |
| Land & buildings | € 10,678,345 | € 10,359,475 | € 10,009,044 | € 9,688,206 | ▼ 3% |
| Retained profit | € 507,385 | € -14,466,981 | € -118,675,731 | € -157,221,030 | ▼ € 38.5 million |
| Bank debt | € 2,596,250 | € 2,261,250 | € 7,086,454 | € 5,056,954 | ▼ 29% |
| Balance sheet total | € 312,294,863 | € 341,502,688 | € 247,489,544 | € 242,988,665 | ▼ 2% |
| Employees (FTE) | 19.8 | 20 | 18 | 17.3 | ▼ 0.7 |
Key figures of INTERNATIONAL REAL ESTATE SERVICES, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to INTERNATIONAL REAL ESTATE SERVICES?
What happened at INTERNATIONAL REAL ESTATE SERVICES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 38.5 million. Source: NBB ↗
- New establishment in Gent. KBO
- New establishment in Brussel. KBO
- Kadmos BV became a director. NBB
- New establishment in Ieper. KBO
- Start of the company according to the CBE. KBO
In short
From € 5 million loss in 2021 to € 38.5 million loss in 2024.
Paid € 326,628 in corporate taxes since 2021.
Pays suppliers within 162 days on average.
A new publication or filing at INTERNATIONAL REAL ESTATE SERVICES? We notify you, reason included.
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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 KADMOS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
INTERNATIONAL REAL ESTATE SERVICESBehind INTERNATIONAL REAL ESTATE SERVICES is Kadmos BV. The shares are held by KADMOS (3.3%). It owns 100% of Golf Terrain Operations Management, 100% of Verius Construction, 100% of Thursley Holdings Limited, 100% of Boutique Hotel Management, 100% of Safe Holding Belgium and 100% of Keybus Ltd itself.
Directors
According to the 2024 annual accounts
Director · represented by Paul Gheysens
Also active at: GHELAMCO, STEELCON, BELGIAN TRADING COMPANY, MeetDistrict Gent, RING PUBLI
since 2007
Shareholders
3.3%
Participations
Verius Construction
100%
Thursley Holdings Limited
100%
100%
Keybus Ltd
100%
LICO SA
100%
TALLINK INVEST LTD
100%
Motaro Holding LTD
100%
UK Realty Agents Ltd
100%
APEC LTD
100%
HANSETA HOLDING LTD
100%
Algowood Investments LTD
100%
100%
99.9%
99.6%
99.6%
99.2%
99.2%
COURCHEVEL SARL
99%
56%
PERIDOT SL
25.8%
20%
Establishments
Establishment units
Physical locations of this company
Zwaanhofweg 10
8900 Ieper
Ottergemsesteenweg-Zuid 808 box C31
9000 Gent
Active since 1 January 2017
Bischoffsheimlaan 15 box 100
1000 Brussel
Active since 1 July 2015
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 79 companies are registered at this address.
All companies at this address →R.H.R. - INDUSTRIES
€ 272,092 gross margin · 2024
GARAGE S.O.S.
€ -10,621 gross margin · 2024
GHELAMCO same network
€ 549,961 revenue · 2024
GHELAMCO INVEST
€ 38.6 million revenue · 2025
SOGIMES
€ 4.7 million gross margin · 2025
+74 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
- 0886.354.821
- VAT number
- BE 0886.354.821
- Registered office
- Zwaanhofweg 10, 8900 Ieper
- Names & denominations
- INTERNATIONAL REAL ESTATE SERVICES · IRS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 January 2007
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Activiteiten van holdings
Managementactiviteiten van holdings
Holdings
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Overige activiteiten van vrije beroepen en andere wetenschappelijke en technische activiteiten, neg
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