Equity
€3.4m ▲ 3.8%
AU FUSEAU paid out €360,000 in dividends. That is 74% of the 2025 profit.
AU FUSEAU
Lifetime
20 annual accounts with figures on one time axis, 49 filings since 1977peak €1.7m (2023)
€1.5m▼ 4.5%
peak €640,752 (2023)
€486,300▼ 7.7%
peak €3.4m (2025)
€3.4m▲ 3.8%
€732,129▼ 40.3%
peak 15.8 FTE (2025)
15.8 FTE▲ 6.0%
Board2 names since 1997
2 directorsHélène GASPAR and 1 other
Documentsfilings and deeds
31-08-202631 days late
2025abbreviated format
Dividend €360,000Debts from €1.2m to €732,129Cash from €1.2m to €1.7m
Key points
from the 2025 annual accountsTurnover
≈ €4.0m estimated
The accounts state no turnover.
Staff
17 employees on 31-12-2025
In 2025, 57 people joined and 58 left.
Liquidity
5.74 was 3.68 in 2024
Short-term debts fell from €1.2m to €679,997.
Filings
49 annual accounts since 1977
Three of the last ten came late. The 2025 accounts came latest: 31 days after the end of the period.
Position in the sector
€486,300
Higher net result than 95% of companies in retail trade. Sector median €27,458 · 12,841 companies.
Checked score
98
Excellent
Financially stronger than 82% of small companies in retail trade (NACE 47)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 3,697 companies (NACE 47, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%lowest value
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: < 0.1%● unchanged vs 02-2025lowest value
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026highest value
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 5.74, cash €1.7m
Founded in 1971
Equity €3.4m (82.4% of total assets)
Size: 15.8 FTE, total assets €4.2m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, small). It does better than 95% of them on solvency, 99% on liquidity, 84% on profitability and 52% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as AU FUSEAU has now. Each dot stands for 51 companies, two years later.
95.1%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of AU FUSEAU itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,137 companies, not a prediction for AU FUSEAU. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €330,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.74 (3.68 in 2024), above the usual 1.5. Short-term debt is 16.4% and cash 40.5% of total assets. 17.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
17 days early
2023
8 days early
2022
35 days early
2021
3 days early
2020
51 days early
2019
12 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 10 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0411955238
Reappointments: Hélène GASPAR (director) and Philippe GASPAR (director)
Legal-form conversion: from private limited company (pre-2019) to private limited company · General meeting of 30-11-2023 · Gazette deed
New establishment in Spa
AU FUSEAU LINGERIE, Place Verte 6
New establishment in Spa
SUITE BOUTIQUE - SOLDERIE, Rue des Ecomines 51
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AU FUSEAU Spa | €4.2m | €1.5m | 82.4% | 15.8 |
| Elbi Sint-Gillis (bij-Brussel) | €3.4m | €1.5m | 47.1% | 20.5 |
| JABU Sint-Gillis (bij-Brussel) | €2.9m | €1.3m | 34.5% | 22.9 |
| Thalie Sint-Gillis (bij-Brussel) | €5.4m | €2.0m | 33.7% | 30.8 |
| Engelrelst Bruges | €5.4m | €1.5m | 54.2% | 7.5 |
| HERENKLEDING WELLENS Herentals | €4.4m | €2.5m | 38.1% | 32.2 |
| SINT-MARTINUS Aalst | €1.7m | €0.9m | 22.6% | 17.5 |
These companies have the same main activity as AU FUSEAU: retail trade (NACE 47712). They are comparable in size and age: total assets between €1.7m and €5.4m, founded between 1967 and 1990.
Official details
Source: KBO- Status
- Active since 30-12-1971Normal situation
- Activity
- Retail tradeNACE 47712and 5 others
- Joint committees
- 109Clothing and garment industry
- 201Independent retail · annual accounts 2025
- Establishment units
- 2.006.869.0284900 Spa, since 01-12-1971
- 2.006.869.1274900 Spa, since 20-07-2001and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 26-11-2025
Insights on AU FUSEAU
AU FUSEAU files the abbreviated format. That format states no turnover. The gross margin rose from €639,537 in 2006 to €1.5m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AU FUSEAU
- What is the company number of AU FUSEAU?
- The company number of AU FUSEAU is 0411.955.238. The VAT number is the same number with BE in front: BE 0411.955.238.
- Where is AU FUSEAU based?
- The registered office is at Place Verte 96, 4900 Spa.Company details
- What does AU FUSEAU do?
- According to the KBO register, the main activity is retail trade (NACE 47712).
- What is the legal form of AU FUSEAU?
- AU FUSEAU is a private limited company (BV).
- When was AU FUSEAU founded?
- AU FUSEAU was founded on 30-12-1971.
- Is AU FUSEAU still active?
- Yes, AU FUSEAU is an active enterprise in the KBO register.
- How many employees does AU FUSEAU have?
- AU FUSEAU had an average of 15.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does AU FUSEAU fall under?
- In its 2025 annual accounts, AU FUSEAU states joint committees 109 (Clothing and garment industry) and 201 (Independent retail).
- What is the turnover of AU FUSEAU?
- The turnover in financial year 2025 is ≈ €4.0m. This figure is estimated from the gross margin of €1.5m and 31 comparable companies (NACE 477). It probably lies between €3.0m and €5.7m.
- Is AU FUSEAU profitable?
- In financial year 2025, AU FUSEAU made a profit of €486,300.
- Where can I find the annual accounts of AU FUSEAU?
- AU FUSEAU filed 49 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AU FUSEAU due?
- AU FUSEAU must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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