FAIRAMA
ActiveSummary
FAIRAMA has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €202,777 and a net result of -€86,483. Equity is shrinking by ~24.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 16% of 5046 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11▲+9
Solvency39▼-16
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity tight (current ratio 1.13 against 1.36 in 2024; short-term debt: 85.2% and cash: 27% of total assets), and 85.7% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 -€86,483
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 5046 sector peers (2025).
NBB · sector comparisonPosition among 5046 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
42 d early
2023
56 d early
2022
69 d early
2021
53 d early
2020
54 d early
2019
66 d early
← 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 45 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€2.5m
EBIT margin
-3.4%
Net result
-€86,483▲ 33.7%
2024 · -€130,388
Working capital
€156,174▼ 37.1%
2024 · €248,425
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€2.5m
Operating result€210,782▼ 47.0%-€39,616-€148,170▼ 274%-€118,212▲ 20.2%-€83,398▲ 29.5%
Net result€174,611within the sector's middle half▼ 55.5%-€28,321below the sector's middle half-€138,029below the sector's middle half▼ 387%-€130,388below the sector's middle half▲ 5.5%-€86,483below the sector's middle half▲ 33.7%
EBIT margin-3.4%
Equity€585,999within the sector's middle half▼ 32.0%€557,678within the sector's middle half▼ 4.8%€419,649within the sector's middle half▼ 24.8%€289,261below the sector's middle half▼ 31.1%€202,777below the sector's middle half▼ 29.9%
Total assets€1.2mwithin the sector's middle half▼ 26.4%€1.2mwithin the sector's middle half▼ 0.3%€1.1mwithin the sector's middle half▼ 3.4%€971,250below the sector's middle half▼ 15.5%€1.4mwithin the sector's middle half▲ 45.7%
Debt€607,919▼ 20.1%€633,110▲ 4.1%€730,231▲ 15.3%€681,989▼ 6.6%€1.2m▲ 77.7%
Working capital€508,570within the sector's middle half▼ 35.8%€507,657within the sector's middle half▼ 0.2%€375,311within the sector's middle half▼ 26.1%€248,425within the sector's middle half▼ 33.8%€156,174below the sector's middle half▼ 37.1%
Solvency49.1%within the sector's middle half▼ 4.0pp46.8%within the sector's middle half▼ 2.2pp36.5%within the sector's middle half▼ 10.3pp29.8%within the sector's middle half▼ 6.7pp14.3%below the sector's middle half▼ 15.4pp
Current ratio1.84within the sector's middle half▼ 0.201.80within the sector's middle half▼ 0.031.51within the sector's middle half▼ 0.291.36within the sector's middle half▼ 0.151.13below the sector's middle half▼ 0.23
Return on assets (ROA)14.6%above the sector's middle half▼ 9.6pp-2.4%below the sector's middle half▼ 17.0pp-12.0%below the sector's middle half▼ 9.6pp-13.4%below the sector's middle half▼ 1.4pp-6.1%below the sector's middle half▲ 7.3pp
Staff (FTE)15.5within the sector's middle half▼ 13.4%15.7within the sector's middle half▲ 1.3%15.2within the sector's middle half▼ 3.2%14.7within the sector's middle half▼ 3.3%13.1within the sector's middle half▼ 10.9%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €83,398 in 2025 against €118,212 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€52,883 ▲ 29.5%
Current assets
€1.4m ▲ 46.4%
Equity and liabilities €1.4m
Equity
€202,777 ▼ 29.9%
Debt
€1.2m ▲ 77.7%
Debt's share of the balance-sheet total rises from 70.2% to 85.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€61,724▲
2024 · -€95,563
Cash flow
-€64,810▲
2024 · -€107,739
Quick ratio
0.46▲
2024 · 0.17
Debt to equity
5.98▲
2024 · 2.36
ROE
-42.6%▲
2024 · -45.1%
Interest coverage
-6.17▼
2024 · -4.88
Debt ≤ 1 year
€1.2m▲
2024 · €681,989
Income taxes
€495▲
2024 · €494
Staff costs
€483,830▼
2024 · €565,937
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,508 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €2.5m | - |
| Turnover70 | - | - | - | - | €2.5m | - |
| Other operating income74 | - | - | - | - | €63,175 | - |
| Operating charges60/66A | - | - | - | - | €2.6m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €1.5m | - |
| Purchases600/8 | - | - | - | - | €1.5m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | €22,733 | - |
| Services and other goods61 | - | - | - | - | €544,130 | - |
| Remuneration, social security and pensions62 | €608,835 | €619,849 | €587,328 | €565,937 | €483,830 | ▼ 14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,510 | €27,408 | €19,430 | €22,649 | €21,673 | ▼ 4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €23,534 | €6,346 | €6,043 | €26,428 | -€12,800 | ▼ 148% |
| Other operating charges640/8 | €3,726 | €3,767 | €3,387 | €3,166 | €44,612 | ▲ 1,309% |
| Non-recurring operating charges66A | - | - | €3,665 | - | - | - |
| Gross operating margin9900 | €877,387 | €617,754 | €471,684 | €499,968 | - | - |
| Operating profit (loss)9901 | €210,782 | -€39,616 | -€148,170 | -€118,212 | -€83,398 | ▲ 29.5% |
| Financial income75/76B | €31,573 | €21,250 | €21,221 | €7,896 | €16,899 | ▲ 114% |
| Recurring financial income75 | €31,573 | €21,250 | €21,221 | €7,896 | €16,899 | ▲ 114% |
| Income from current assets751 | - | - | - | - | €32 | - |
| Other financial income752/9 | - | - | - | - | €16,867 | - |
| Financial charges65/66B | €4,248 | €9,477 | €10,596 | €19,578 | €19,490 | ▼ 0.4% |
| Recurring financial charges65 | €4,248 | €9,477 | €10,596 | €19,578 | €19,490 | ▼ 0.4% |
| Debt charges650 | - | - | - | - | €10,003 | - |
| Other financial charges652/9 | - | - | - | - | €9,487 | - |
| Profit (loss) for the period before taxes9903 | €238,107 | -€27,843 | -€137,545 | -€129,894 | -€85,989 | ▲ 33.8% |
| Income taxes67/77 | €63,496 | €478 | €484 | €494 | €495 | ▲ 0.2% |
| Taxes670/3 | - | - | - | - | €495 | - |
| Profit (loss) for the period9904 | €174,611 | -€28,321 | -€138,029 | -€130,388 | -€86,483 | ▲ 33.7% |
| Profit (loss) for the period to be appropriated9905 | €174,611 | -€28,321 | -€138,029 | -€130,388 | -€86,483 | ▲ 33.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.1m | €971,250 | €1.4m | ▲ 45.7% |
| Fixed assets21/28 | €77,429 | €50,021 | €44,338 | €40,836 | €52,883 | ▲ 29.5% |
| Intangible fixed assets21 | €1,347 | - | €17,333 | €29,321 | €19,688 | ▼ 32.9% |
| Tangible fixed assets22/27 | €76,082 | €50,021 | €27,005 | €11,515 | €33,195 | ▲ 188% |
| Plant, machinery and equipment23 | €13,027 | €9,154 | €2,923 | €357 | €1,913 | ▲ 435% |
| Furniture and vehicles24 | €49,506 | €36,587 | €23,872 | €11,157 | €31,282 | ▲ 180% |
| Other tangible fixed assets26 | €13,550 | €4,281 | €210 | - | - | - |
| Current assets29/58 | €1.1m | €1.1m | €1.1m | €930,414 | €1.4m | ▲ 46.4% |
| Stocks and contracts in progress3 | €832,299 | €923,503 | €878,714 | €816,280 | €806,347 | ▼ 1.2% |
| Stocks30/36 | €832,299 | €923,503 | €878,714 | €816,280 | €806,347 | ▼ 1.2% |
| Goods purchased for resale34 | - | - | - | - | €806,347 | - |
| Amounts receivable within one year40/41 | €106,106 | €150,896 | €140,527 | €48,945 | €153,606 | ▲ 214% |
| Trade receivables40 | €66,663 | €82,980 | €70,281 | €35,540 | €75,826 | ▲ 113% |
| Other amounts receivable41 | €39,443 | €67,916 | €70,245 | €13,405 | €77,780 | ▲ 480% |
| Current investments50/53 | €89,900 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €74,671 | €50,569 | €69,295 | €49,544 | €382,092 | ▲ 671% |
| Deferred charges and accrued income490/1 | €13,513 | €15,800 | €17,007 | €15,645 | €19,826 | ▲ 26.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.1m | €971,250 | €1.4m | ▲ 45.7% |
| Equity10/15 | €585,999 | €557,678 | €419,649 | €289,261 | €202,777 | ▼ 29.9% |
| Contributions10/11 | €371,840 | €371,840 | €371,840 | €371,840 | €371,840 | = |
| Capital10 | €371,840 | €371,840 | €371,840 | €371,840 | €371,840 | = |
| Issued capital100 | €371,840 | €371,840 | €371,840 | €371,840 | €371,840 | = |
| Reserves13 | €214,159 | €185,838 | €47,809 | €47,809 | €47,809 | = |
| Non-distributable reserves130/1 | €37,184 | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Legal reserve130 | €37,184 | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Distributable reserves133 | €176,975 | €148,654 | €10,625 | €10,625 | €10,625 | = |
| Profit (loss) carried forward14 | - | - | - | -€130,388 | -€216,872 | ▼ 66.3% |
| Amounts payable17/49 | €607,919 | €633,110 | €730,231 | €681,989 | €1.2m | ▲ 77.7% |
| Amounts payable within one year42/48 | €607,919 | €633,110 | €730,231 | €681,989 | €1.2m | ▲ 76.8% |
| Financial debts43 | €25,073 | €8,362 | - | - | - | - |
| Credit institutions430/8 | €25,073 | €8,362 | - | - | - | - |
| Trade debts44 | €422,305 | €428,435 | €389,144 | €266,091 | €714,223 | ▲ 168% |
| Suppliers440/4 | €422,305 | €428,435 | €389,144 | €266,091 | €714,223 | ▲ 168% |
| Advances received on contracts in progress46 | €12,974 | €6,399 | €8,312 | €9,356 | €4,400 | ▼ 53.0% |
| Taxes, remuneration and social security45 | €121,642 | €115,337 | €104,540 | €93,723 | €65,034 | ▼ 30.6% |
| Taxes450/3 | €34,727 | €27,632 | €22,262 | €22,289 | €10,544 | ▼ 52.7% |
| Remuneration and social security454/9 | €86,915 | €87,706 | €82,278 | €71,434 | €54,490 | ▼ 23.7% |
| Other amounts payable47/48 | €25,925 | €74,576 | €228,235 | €312,819 | €422,039 | ▲ 34.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €6,280 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €174,611 | -€28,321 | -€138,029 | -€130,388 | -€86,483 | ▲ 33.7% |
| + Depreciation and write-downs630 | €30,510 | €27,408 | €19,430 | €22,649 | €21,673 | ▼ 4.3% |
| Operating cash flow (approximation) | €205,121 | -€913 | -€118,599 | -€107,739 | -€64,810 | ▲ 39.8% |
| Investment in fixed assets (approximation) | - | €0 | -€13,747 | -€19,147 | -€33,721 | ▼ 76.1% |
| Change in cash | - | -€24,102 | €18,726 | -€19,750 | €332,548 | ▲ 1,784% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 25 days late
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €392,554
Net result €392,554 after 2 loss-making years.
31-12
Financial
Equity above €500,000Eq €861,388 ▲83.7%
Equity rises from €468,834 to €861,388.
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Tournai · 1 establishment unit since 1996
Ground area
7,085 m²
Parcel 57462B0019/00X010, Wallonia. Linked by address, not a title deed.
1 establishment unit
GAMMA
since 19962.079.065.732
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57462B0019/00X010 | Wallonia | 7,085 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
Food safety, FASFC
1 siteTournai2.079.065.732
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Of 855 companies in sector 46832 we hold annual accounts for 590. 397 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
Founded21-12-1995
Fiscal year end31-12
Activities, NACEBEL 2025
46832Wholesale of timber
47521Retail sale of hardware, building materials, paint and glass (general range)
46220Wholesale trade
46496Wholesale trade
46831Wholesale of construction materials, general range
46841Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456957793
Also
9925:BE0456957793
Registered
11-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.