FAGNES DEVELOPPEMENT is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €7k and a net result of €-48k. Equity is shrinking by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 489 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 489 sector peers (2025).
NBB · sector comparisonPosition among 489 sector peers
Solvency
better than 5%
← 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 13-08-2026, 13 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 · 4 filingsDeviation from the deadline
2025
13 d late
2024
8 d late
2023
16 d early
2022
30 d late
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€7k▼ 99.8%
2024 · €3.28M
2022: €3.22M
2023: €3.27M
2024: €3.28M
2022 → 2025
Net result
€-48k
2024 · €9k
2022: €5k
2023: €50k
2024: €9k
2022 → 2025
Total assets
€3.92M▼ 9.0%
2024 · €4.31M
2022: €4.01M
2023: €3.88M
2024: €4.31M
2022 → 2025
Solvency
0.2%▼ 75.8pp
2024 · 76.0%
2022: 80.3%
2023: 84.3%
2024: 76.0%
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Turnover€343k€329k▼ 4.1%
Equity€3.22M-€3.27M▲ 1.6%€3.28M▲ 0.3%€7k▼ 99.8%
Operating result€25k-€75k▲ 198%€26k▼ 65.2%€2k▼ 94.0%
Net result€5k-€50k▲ 913%€9k▼ 82.8%€-48k
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 94% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.92M
Fixed assets
€3.87M▼ 5.1%
Current assets
€46k▼ 79.3%
Equity and liabilities €3.92M
Equity
€7k▼ 99.8%
Debt
€3.92M▲ 278%
The debt ratio rises from 24.0% to 99.8%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
0.2%▼
2024 · 76.0%
ROE
-723.4%▼
2024 · 0.3%
ROA
-1.2%▼
2024 · 0.2%
Debt
€3.92M▲
2024 · €1.04M
Debt ≤ 1 year
€3.81M▲
2024 · €717k
Debt > 1 year
€88k▼
2024 · €319k
Income taxes
€0▼
2024 · €4k
A ratio outside any meaningful range has been withheld (balance sheet total €3.92M, equity €7k).
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€4.31M€3.92M▼
Formation expenses20€7k€4k▼
Fixed assets21/28€4.08M€3.87M▼
Tangible fixed assets22/27€4.08M€3.87M▼
Land and buildings22€4.00M€3.81M▼
Leasing and similar rights25€78k€60k▼
Current assets29/58€225k€46k▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€131k€16k▼
Trade receivables40€911€15k▲
Other amounts receivable41€130k€1k▼
Cash at bank and in hand54/58€87k€24k▼
Deferred charges and accrued income490/1€7k€6k▼
Equity and liabilities
Total equity and liabilities10/49€4.31M€3.92M▼
Equity10/15€3.28M€7k▼
Contributions10/11€3.08M€55k▼
Profit (loss) carried forward14€64k€-48k▼
Investment grants15€130k€0▼
Amounts payable17/49€1.04M€3.92M▲
Amounts payable after more than one year17€319k€88k▼
Financial debts170/4€319k€88k▼
Leasing and similar obligations172€61k€44k▼
Credit institutions173€257k€44k▼
Amounts payable within one year42/48€717k€3.81M▲
Current portion of amounts payable after more than one year42€251k€231k▼
Trade debts44€74k€34k▼
Suppliers440/4€74k€34k▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€30k€9k▼
Taxes450/3€30k€9k▼
Other amounts payable47/48€362k€3.53M▲
Accrued charges and deferred income492/3€0€24k▲
Income statement
Code20242025
Operating income70/76A€346k€329k▼
Turnover70€343k€329k▼
Other operating income74€3k€332▼
Operating charges60/66A€320k€327k▲
Services and other goods61€85k€56k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€198k€223k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€13k
Other operating charges640/8€36k€35k▼
Operating profit (loss)9901€26k€2k▼
Financial income75/76B€16€0▼
Recurring financial income75€16€0▼
Other financial income752/9€16€0▼
Financial charges65/66B€13k€50k▲
Recurring financial charges65€13k€50k▲
Debt charges650€13k€50k▲
Other financial charges652/9€469€502▲
Profit (loss) for the period before taxes9903€13k€-48k▼
Income taxes67/77€4k€0▼
Taxes670/3€4k€0▼
Profit (loss) for the period9904€9k€-48k▼
Profit (loss) for the period to be appropriated9905€9k€-48k▼
Appropriation of the result
Profit (loss) to be appropriated9906€64k€-48k▼
Profit (loss) brought forward from the previous period14P€55k€0▼
The notes to these accounts (41 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 13 days late
2025
31-12
Financial
Weakest financial yearnet €-48k ▼661%
Net result drops to €-48k, the lowest in the series.
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema · 8 days late
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
31-12
Financial
Highest result since 2022net €50k ▲913%
Operating result €75k, net result €50k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Couvin · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de la Gare 205660 CouvinGround area
290 m²
Building footprint
120 m²
Parcel 93014A0405/00B002, Wallonia. Linked by address, not a title deed.
1 establishment unit
Fagnes DEVELOPPEMENT
since 20212.320.371.741
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93014A0405/00B002indicative | Wallonia | 290 m² | 1 · 120 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 591 companies in sector 66300 we hold annual accounts for 365. 87 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-07-2021
Fiscal year end31-12
Activities, NACEBEL
66300Activities auxiliary to financial services and insurance activities
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
70100Activities of head offices
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:adant.fr@gmail.com