ACTIVE

Tree is a crowd

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Financial year 2025 · closed on 31/12/2025

Net result

-15,7 k €

-509.1% YoY

Gross margin

9,5 k €

-29.5% YoY

Equity

1,6 M €

-1.0% YoY

What does Tree is a crowd do?

Tree is a crowd is a Private limited company incorporated in 2010. Its main activity is: Management of real estate on a fee or contract basis. Its registered office is in Brugge.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0830.598.825

Incorporation

25/10/2010

Legal form

Private limited company

Registered office

Doornstraat 39
8200 Brugge · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

68321Management of real estate on a fee or contract basis· main 68321Management of real estate on a fee or contract basis 64200Activities of holding companies 64210Activities of holding companies 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	9,5 k €	-29.5%	13,4 k €	+7.5%	12,5 k €	+1780%	-744,5 €	-108%	9,6 k €	-94.7%	180,8 k €	-75.4%	736,1 k €	+0.4%	732,9 k €	+17.6%	623,4 k €	+37.6%	453 k €	-7.9%	492,1 k €	+2.6%	479,7 k €	-21.6%	611,6 k €
EBITDA	6,1 k €	-28.2%	8,4 k €	+0.9%	8,3 k €	+262%	-5,1 k €	-161%	8,4 k €	-94.8%	160,5 k €	-77.8%	723,5 k €	-0.6%	728,1 k €	+17.4%	620 k €	+38.0%	449,3 k €	-7.5%	485,9 k €	+1.6%	478,3 k €	-21.2%	606,8 k €
Operating result	-38,3 k €	-6.6%	-36 k €	+25.9%	-48,5 k €	+0.7%	-48,9 k €	-47.9%	-33 k €	-123%	145,4 k €	-79.7%	716,1 k €	+14.5%	625,7 k €	+21.1%	516,8 k €	+49.9%	344,8 k €	-5.7%	365,8 k €	-2.7%	376,1 k €	-6.5%	402,4 k €
Net result	-15,7 k €	-509%	3,8 k €	+110%	-37,2 k €	-15.0%	-32,3 k €	-62.7%	-19,9 k €	-120%	100,3 k €	-79.0%	478 k €	+21.1%	394,8 k €	+32.4%	298,3 k €	+43.9%	207,4 k €	-11.4%	234,2 k €	-5.3%	247,2 k €	-7.7%	267,9 k €
Balance sheet
Equity	1,6 M €	-1.0%	1,6 M €	+0.2%	1,6 M €	-2.3%	1,6 M €	-15.8%	1,9 M €	-0.7%	2 M €	+5.4%	1,9 M €	+34.7%	1,4 M €	-5.5%	1,5 M €	+25.7%	1,2 M €	+21.8%	952 k €	+14.1%	834,6 k €	+39.7%	597,4 k €
Total assets	1,6 M €	-1.1%	1,7 M €	-0.0%	1,7 M €	-2.7%	1,7 M €	-15.2%	2 M €	-10.6%	2,3 M €	+12.5%	2 M €	+5.9%	1,9 M €	+6.7%	1,8 M €	+16.3%	1,5 M €	+12.0%	1,4 M €	+18.3%	1,2 M €	+23.0%	935,8 k €
Cash	25,2 k €	-88.6%	221,1 k €	+99.4%	110,9 k €	-45.0%	201,6 k €	+37.9%	146,2 k €	-78.2%	670,3 k €	+13.2%	591,9 k €	-30.6%	852,8 k €	+76.4%	483,3 k €	-23.5%	631,4 k €	+36.2%	463,6 k €	-29.8%	660,7 k €	+86.3%	354,7 k €
Debts	780,1 €	+42.7%	546,7 €	-85.6%	3,8 k €	-61.3%	9,8 k €	+30.2%	7,5 k €	-96.7%	228,2 k €	+203%	75,3 k €	-85.4%	514,4 k €	+62.9%	315,8 k €	-13.6%	365,5 k €	-10.8%	409,5 k €	+29.6%	316,1 k €	-6.6%	338,4 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 1 ended

Active mandates

Harold Minjauw

Director

Active

Ended mandates

Harold MINJAUW

Manager · since 22 octobre 2010

Ended

At this address

Other companies at this address

Company	CBE no.
Advocatenkantoor HM● Active	0707.699.231
Min-S● Active	1023.657.034

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/06/2026	20/06/2025	04/04/2024	15/02/2023	15/06/2022	21/06/2021
General meeting	24/06/2026	20/06/2025	04/04/2024	15/02/2023	11/06/2022	21/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	24/06/2026	24/06/2026	Dutch	PDF
Micro model	31/12/2024	20/06/2025	20/06/2025	Dutch	PDF
Micro model	31/12/2023	04/04/2024	04/04/2024	Dutch	PDF
Micro model	31/12/2022	15/02/2023	15/02/2023	Dutch	PDF
Micro model	31/12/2021	11/06/2022	15/06/2022	Dutch	PDF
Abridged model	31/12/2020	21/06/2021	21/06/2021	Dutch	PDF
Abridged model	31/12/2019	13/04/2020	30/04/2020	Dutch	PDF
Abridged model	31/12/2018	27/03/2019	28/03/2019	Dutch	PDF
Micro model	31/12/2017	09/04/2018	12/04/2018	Dutch	PDF
Abridged model	30/09/2016	17/03/2017	10/04/2017	Dutch	PDF
Abridged model	30/09/2015	04/03/2016	25/03/2016	Dutch	PDF
Abridged modelCorrection	30/09/2014	06/03/2015	09/11/2015	Dutch	PDF
Abridged model	30/09/2014	06/03/2015	09/03/2015	Dutch	PDF
Abridged model	30/09/2013	31/03/2014	30/04/2014	Dutch	PDF
Abridged model	30/09/2012	01/03/2013	26/04/2013	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 1 ended

Active mandates

Harold Minjauw

Director

Active

Ended mandates

Harold MINJAUW

Manager · since 22 octobre 2010

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares08/10/2018
BENAMING - DIVERSEN - DOEL - KAPITAAL - AANDELEN
PDF
Capital / shares02/01/2018
KAPITAAL - AANDELEN
PDF
Other10/10/2017
BOEKJAAR
PDF
Capital / shares14/01/2014
KAPITAAL - AANDELEN
PDF
Capital / shares16/02/2011
KAPITAAL - AANDELEN - DIVERSEN
PDF
Other05/11/2010
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-15,7 k €↓
2024
Annual accounts 20243,8 k €↑
2023
Annual accounts 2023-37,2 k €↓
2022
Annual accounts 2022-32,3 k €↓
2021
Annual accounts 2021-19,9 k €↓
2019
Annual accounts 2019100,3 k €↓
2018
Annual accounts 2018478 k €↑
2018
Name changeTree is a crowd
2017
Annual accounts 2017394,8 k €↑
2016
Annual accounts 2016298,3 k €↑
2015
Annual accounts 2015207,4 k €↓
2014
Annual accounts 2014234,2 k €↓
2013
Annual accounts 2013247,2 k €↓
2012
Annual accounts 2012267,9 k €
2012
Name changeHM Advocaat
25/10/2010
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Tree is a crowd

Overview

What does Tree is a crowd do?

Trend over 13 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline