Watch List notes:

Belgium
Bank van Vlaenderen (Banque de Flandre),
te Gend, uniface 25 Franken, text in Dutch: op ZIGT zal betaeld worden aen toonder VYF EN TWINTIG FRANKEN, not numbered, not signed, not dated (De Mey - ; LA#BFB-; Morin- ; NBBB- ; Shafer & Cuhaj.-),
very rare, not listed, folded, two tiny holes in left margin and a small tear, very fine.