FABY
ActiveSummary
FABY has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €277,361 and a net result of -€95,195. Equity is shrinking by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 24% of 4565 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability22▲+2
Solvency36▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity short (current ratio 0.03 against 0.04 in 2024; short-term debt: 87.5% and cash: 1.2% of total assets), and 89.2% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€95,195
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 4565 sector peers (2025).
NBB · sector comparisonPosition among 4565 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
140 d late
2023
31 d late
2022
31 d late
2021
61 d late
2020
1 d early
2019
152 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 63 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€95,195▲ 12.6%
2024 · -€108,880
Working capital
-€2.2m▼ 3.6%
2024 · -€2.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€51,905-€4,641▲ 91.1%€1,278-€1,792-€7,912▼ 341%
Net result-€44,092-€36,628▲ 16.9%-€86,676▼ 137%-€108,880▼ 25.6%-€95,195▲ 12.6%
Equity€481,064▼ 8.4%€444,437▼ 7.6%€357,760▼ 19.5%€372,556▲ 4.1%€277,361▼ 25.6%
Total assets€2.8m▲ 232%€2.9m▲ 4.2%€2.8m▼ 5.2%€2.6m▼ 5.8%€2.6m▼ 2.5%
Debt€2.2m▲ 1,078%€2.4m▲ 7.3%€2.3m▼ 2.6%€2.3m▼ 2.3%€2.3m▲ 1.3%
Working capital-€1.8m-€1.8m▼ 0.4%-€2.0m▼ 11.4%-€2.1m▼ 4.1%-€2.2m▼ 3.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,912 in 2025 against €1,792 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.5m ▼ 1.6%
Current assets
€69,547 ▼ 26.8%
Equity and liabilities €2.6m
Equity
€277,361 ▼ 25.6%
Debt
€2.3m ▲ 1.3%
Debt's share of the balance-sheet total rises from 85.8% to 89.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€82,314▼
2024 · €84,540
Cash flow
-€4,969▲
2024 · -€22,548
Current ratio
0.03▼
2024 · 0.04
Debt to equity
8.24▲
2024 · 6.06
ROE
-34.3%▼
2024 · -29.2%
ROA
-3.7%▲
2024 · -4.1%
Interest coverage
0.94▲
2024 · 0.76
Debt ≤ 1 year
€2.2m▲
2024 · €2.2m
Debt > 1 year
€33,846▼
2024 · €52,308
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,678 | €86,287 | €86,287 | €86,332 | €90,226 | ▲ 4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €5,085 | €245 | ▼ 95.2% |
| Other operating charges640/8 | €4,854 | €12,397 | €19,045 | €13,570 | €20,427 | ▲ 50.5% |
| Gross operating margin9900 | €12,627 | €94,043 | €106,611 | €103,194 | €102,987 | ▼ 0.2% |
| Operating profit (loss)9901 | -€51,905 | -€4,641 | €1,278 | -€1,792 | -€7,912 | ▼ 341% |
| Financial income75/76B | €12,900 | €6,046 | €10,536 | €3,536 | €56 | ▼ 98.4% |
| Recurring financial income75 | €12,900 | €6,046 | €10,536 | €3,536 | €56 | ▼ 98.4% |
| Financial charges65/66B | €5,607 | €44,584 | €105,042 | €110,624 | €87,339 | ▼ 21.0% |
| Recurring financial charges65 | €5,607 | €44,584 | €105,042 | €110,624 | €87,339 | ▼ 21.0% |
| Profit (loss) for the period before taxes9903 | -€44,612 | -€43,180 | -€93,229 | -€108,880 | -€95,195 | ▲ 12.6% |
| Transfer from deferred taxes780 | €520 | €6,552 | €6,552 | €0 | - | - |
| Profit (loss) for the period9904 | -€44,092 | -€36,628 | -€86,676 | -€108,880 | -€95,195 | ▲ 12.6% |
| Transfer from tax-exempt reserves789 | €1,559 | €19,656 | €19,656 | €28,712 | €27,460 | ▼ 4.4% |
| Profit (loss) for the period to be appropriated9905 | -€42,533 | -€16,971 | -€67,020 | -€80,168 | -€67,735 | ▲ 15.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €2.9m | €2.8m | €2.6m | €2.6m | ▼ 2.5% |
| Fixed assets21/28 | €2.6m | €2.5m | €2.6m | €2.5m | €2.5m | ▼ 1.6% |
| Tangible fixed assets22/27 | €2.2m | €2.1m | €2.1m | €2.0m | €2.0m | ▼ 2.0% |
| Land and buildings22 | €2.0m | €1.9m | €1.8m | €1.7m | €1.6m | ▼ 5.0% |
| Plant, machinery and equipment23 | - | - | - | €7,714 | €39,880 | ▲ 417% |
| Assets under construction and advance payments27 | €200,000 | €200,000 | €250,000 | €260,813 | €275,000 | ▲ 5.4% |
| Financial fixed assets28 | €447,876 | €446,538 | €536,538 | €536,538 | €536,538 | = |
| Current assets29/58 | €189,903 | €395,972 | €188,072 | €94,965 | €69,547 | ▼ 26.8% |
| Amounts receivable within one year40/41 | €8,012 | €364,495 | €115,029 | €63,691 | €36,695 | ▼ 42.4% |
| Trade receivables40 | €8,012 | €19,003 | €14,579 | €45,159 | €36,695 | ▼ 18.7% |
| Other amounts receivable41 | - | €345,492 | €100,450 | €18,532 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €181,891 | €30,248 | €72,215 | €31,234 | €31,874 | ▲ 2.0% |
| Deferred charges and accrued income490/1 | - | €1,229 | €829 | €41 | €978 | ▲ 2,292% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €2.9m | €2.8m | €2.6m | €2.6m | ▼ 2.5% |
| Equity10/15 | €481,064 | €444,437 | €357,760 | €372,556 | €277,361 | ▼ 25.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €416,540 | €396,884 | €377,228 | €472,192 | €444,732 | ▼ 5.8% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €410,340 | €390,684 | €371,028 | €465,992 | €438,532 | ▼ 5.9% |
| Profit (loss) carried forward14 | €2,524 | -€14,447 | -€81,467 | -€161,636 | -€229,371 | ▼ 41.9% |
| Provisions and deferred taxes16 | €136,780 | €130,228 | €123,676 | €0 | - | - |
| Deferred taxes168 | €136,780 | €130,228 | €123,676 | €0 | - | - |
| Amounts payable17/49 | €2.2m | €2.4m | €2.3m | €2.3m | €2.3m | ▲ 1.3% |
| Amounts payable after more than one year17 | €214,835 | €153,517 | €92,198 | €52,308 | €33,846 | ▼ 35.3% |
| Financial debts170/4 | €214,835 | €153,517 | €92,198 | €52,308 | €33,846 | ▼ 35.3% |
| Amounts payable within one year42/48 | €2.0m | €2.2m | €2.2m | €2.2m | €2.2m | ▲ 2.3% |
| Current portion of amounts payable after more than one year42 | €61,319 | €61,319 | €61,319 | €39,890 | €18,462 | ▼ 53.7% |
| Financial debts43 | €1.7m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Credit institutions430/8 | €1.7m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Trade debts44 | €7,838 | €11,316 | €10,866 | €25,640 | €17,409 | ▼ 32.1% |
| Suppliers440/4 | €7,838 | €11,316 | €10,866 | €25,640 | €17,409 | ▼ 32.1% |
| Taxes, remuneration and social security45 | - | - | - | - | €64 | - |
| Taxes450/3 | - | - | - | - | €64 | - |
| Other amounts payable47/48 | €252,959 | €12,210 | €11,522 | €7,516 | €87,887 | ▲ 1,069% |
| Accrued charges and deferred income492/3 | €747 | €10,960 | €12,459 | €11,021 | €8,550 | ▼ 22.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€44,092 | -€36,628 | -€86,676 | -€108,880 | -€95,195 | ▲ 12.6% |
| + Depreciation and write-downs630 | €59,678 | €86,287 | €86,287 | €86,332 | €90,226 | ▲ 4.5% |
| Operating cash flow (approximation) | €15,586 | €49,660 | -€389 | -€22,548 | -€4,969 | ▲ 78.0% |
| Investment in fixed assets (approximation) | - | €1,338 | -€140,000 | -€18,572 | -€50,292 | ▼ 171% |
| Change in cash | - | -€151,642 | €41,967 | -€40,981 | €640 | ▲ 102% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
18-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 140 days late
2024
31-12
Financial
Weakest financial yearnet -€108,880
Net result drops to -€108,880, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity doublescurrent ratio 11.23
Current ratio from 5.25 to 11.23; short-term debt falls from €144,765 to €61,142.
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 152 days late
2019
31-12
Financial
Highest result since 2018net €445,014 ▲868%
Operating result €602,341, net result €445,014, both a record.
31-12
Financial
Liquidity triplescurrent ratio 5.25
Current ratio from 1.57 to 5.25.
31-12
Financial
Equity above €500,000Eq €520,279 ▲315%
2 profitable years in a row build equity to €520,279.
Show earlier events
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 1987
Ground area
4,768 m²
Parcel 62814C0393/00V002, Wallonia. Linked by address, not a title deed.
1 establishment unit
FABY SA
since 19872.031.790.506
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62814C0393/00V002 | Wallonia | 4,768 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
5299006Y7FE001THSS29
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,993. 4,387 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-10-1987
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68121Development of residential building projects
68122Development of non-residential building projects
68321Property management for co-owned buildings (syndics)
Contact
E-mail
info@ardent-re.be
Phone
042321952
Scores and ratios are computed by Checked and are not a credit decision.