Active BE 0781.996.578Private limited company

F.E.G. Real ESTATE

Torenlei 13 ·2950 Kapellen, Belgium· 4 yrs active

Conclusion Checked

The computed 12-month bankruptcy probability of F.E.G. Real ESTATE is 3.8% (moderate). The 2024 annual accounts show negative equity (€-444k) and a net result of €-50k. Equity is shrinking by ~16.2% per year across the filed fiscal years. The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€-444k
Net result	€-50k
Active	4 yrs
Board	1

Financial profile 5 of 5 axes measured · computed by Checked

54 / 100

Mixed profile: strong on stability, weaker on health.

All 5 axes are computed from data Checked has read.

Health 28

Profitability 56

Solvency 33

Growth 58

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

3.8% Moderate

0%0,5%1,5%4%10%≥25%

Young company +No NACE activity registered +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2022, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2024 · computed

28 / 100 Weak

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview3 NBB filings

Annual accounts filed on 04-08-2025 with the NBB · fiscal year 2024 · verkort

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~16.2%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

EBITDA

€180k

+15.6% 22-24

Net profit

€-50k

+35.5% 22-24

Cash flow

€101k

+37.6% 22-24

Total assets

€6.13M

-2.9% 22-24

Equity

€-444k

-12.7% 22-24

Working capital

€-1.37M

-1.8% 22-24

Income taxes

€-36

- 22-24

Debt

€6.57M

-2.0% 22-24

Show 9 other metrics

Debt ≤ 1y

€1.71M

-0.4% 22-24

Debt > 1y

€4.87M

-2.5% 22-24

Current ratio

0.20

-8.3% 22-24

Quick ratio

0.20

-8.3% 22-24

Solvency

-7.2%

-16.0% 22-24

Debt / equity

-14.81

+13.0% 22-24

ROE

11.3%

-42.8% 22-24

ROA

-0.8%

+33.6% 22-24

Interest coverage

2.03

+18.9% 22-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	verkort
Revenue	-
EBITDA	€180k
Net profit	€-50k
Cash flow	€101k
Staff costs	-
Income taxes	€-36
Dividends	-
Total assets	€6.13M
Equity	€-444k
Debt	€6.57M
of which ≤ 1y	€1.71M
of which > 1y	€4.87M
Working capital	€-1.37M
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	0.20
Quick ratio	0.20
Working capital ratio	-22.3%
Solvency	-7.2%
Debt / equity	-14.81
Long-term debt ratio	-10.96
Interest coverage	2.03
Gross margin	-
Net margin	-
ROA	-0.8%
ROE	11.3%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €5.79M · 94.4% Current assets €341k · 5.6%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€6.13M
Fixed assets	21/28	€5.79M
Tangible fixed assets	22/27	€5.76M
Financial fixed assets	28	€25k
Current assets	29/58	€341k
Amounts receivable within one year	40/41	€9k
Cash & bank	54/58	€82k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€6.13M
Equity	10/15	€-444k
Contributions / capital	10/11	€5k
Accumulated profits (losses)	14	€-449k
Amounts payable	17/49	€6.57M
Amounts payable after one year	17	€4.87M
Amounts payable within one year	42/48	€1.71M
Trade debts payable within one year	44	€136
Income statement
Gross operating margin	9900	€187k
Operating result	9901	€29k
Financial income	75	€9k
Financial charges	65	€89k
Result before taxes	9903	€-50k
Income taxes	67/77	€-36
Net result for the period	9904	€-50k
Result to be appropriated	9905	€-50k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates 2 directors

Current directors & mandates

Fatima Dahraji
Director
State Gazette act 25109862 (29-08-2025)

Current
01-07-2025 → present
2 events
- 01-07-2025 Resigned· Director
- 01-07-2025 Appointed· Director

Former directors (1)

Fadil El Ghoul
Director
State Gazette act 25109862 (29-08-2025)

Former
- → 01-07-2025

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Legal Structure

NACE primary	-
Legal form	Private limited company(610)
Incorporation	15-02-2022
Status	Active
Postal code	2950

Establishment units 1 location

F.E.G. Real Estate

Torenlei 13, 2950 KapellenVerhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen

since 20222.327.882.412

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11023I0191/00D005	Flanders	2.6 ha	-	-

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 4 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

29-08-2025

State Gazette act Director changes

04-08-2025

NBB filing Annual accounts filed

fiscal year 2024 · verkort

2024

21-08-2024

NBB filing Annual accounts filed

fiscal year 2023 · verkort

2023

27-09-2023

NBB filing Annual accounts filed

fiscal year 2022 · verkort

Belgian State Gazette reading coverage 0 of 2 acts read

We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 11 months ago

2025

29-08-2025 3 directors appointed, 2 resigning Director changes

Fatima Dahraji, Bestuurder
Johanna Imbrechts, Vaste vertegenwoordiger
Maxime Degenaers, Vaste vertegenwoordiger
Fadil El Ghoul, Bestuurder
Fatima Dahraji, Bestuurder

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Names & trade names

Legal nameNL

F.E.G. Real ESTATE

Registered office

Torenlei 13

2950 Kapellen, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.