FALS
ActiveSummary
FALS has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€185,570) and a net result of -€203,968. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 379 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-28
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.34 against 0.92 in 2024; short-term debt: 87.9% and cash: 2.9% of total assets), and equity is negative.
Credit check for your own amount and term
Open the credit simulator : 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-26.8%
Return on assets
-29.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€185,570
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
8 d early
2023
12 d early
2022
22 d late
2021
26 d late
2020
29 d early
2019
9 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 9 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 44% 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
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€203,968▲ 47.7%
2024 · -€390,324
Working capital
-€401,328▼ 964%
2024 · -€37,734
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€300,014▲ 27.6%-€181,958€37,685-€372,774-€191,364▲ 48.7%
Net result€229,978▲ 41.8%-€189,522€33,315-€390,324-€203,968▲ 47.7%
Equity€1.2m▲ 22.4%€1.0m▼ 17.4%€972,842▼ 4.6%€24,231▼ 97.5%-€185,570
Total assets€1.6m▲ 24.1%€1.1m▼ 27.7%€1.1m▼ 4.0%€804,588▼ 26.2%€693,329▼ 13.8%
Debt€280,959▲ 46.7%€66,754▼ 76.2%€73,905▲ 10.7%€780,357▲ 956%€878,900▲ 12.6%
Working capital€396,939▲ 115%€329,407▼ 17.0%€369,475▲ 12.2%-€37,734-€401,328▼ 964%
Staff (FTE)10.4▼ 12.6%5.6▼ 46.2%5.3▼ 5.4%7.2▲ 35.8%7.1▼ 1.4%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €191,364 in 2025 against €372,774 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €693,329
Fixed assets
€485,387 ▲ 33.4%
Current assets
€207,943 ▼ 52.8%
Key figures and ratios
EBITDA
-€65,798▲
2024 · -€247,896
Cash flow
-€78,402▲
2024 · -€265,446
Solvency
-26.8%▼
2024 · 3.0%
Current ratio
0.34▼
2024 · 0.92
Quick ratio
0.27▼
2024 · 0.77
Debt to equity
-4.74▼
2024 · 32.20
ROA
-29.4%▲
2024 · -48.5%
Interest coverage
-4.53▲
2024 · -11.36
Debt ≤ 1 year
€609,271▲
2024 · €478,563
Debt > 1 year
€225,285▼
2024 · €277,164
Income taxes
€116▼
2024 · €140
Staff costs
€390,181▲
2024 · €382,588
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €9,037 | - | - |
| Remuneration, social security and pensions62 | €349,662 | €334,200 | €241,495 | €382,588 | €390,181 | ▲ 2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €133,708 | €114,705 | €101,408 | €124,878 | €125,565 | ▲ 0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €750 | - |
| Other operating charges640/8 | €33,794 | €10,705 | €14,328 | €16,435 | €14,953 | ▼ 9.0% |
| Non-recurring operating charges66A | - | €8,900 | €19,402 | €44,627 | €1,050 | ▼ 97.6% |
| Gross operating margin9900 | €817,178 | €286,553 | €414,318 | €195,753 | €341,137 | ▲ 74.3% |
| Operating profit (loss)9901 | €300,014 | -€181,958 | €37,685 | -€372,774 | -€191,364 | ▲ 48.7% |
| Financial income75/76B | €12,010 | €11,727 | €13,869 | €4,410 | €5,836 | ▲ 32.3% |
| Recurring financial income75 | €12,010 | €11,727 | €13,869 | €4,410 | €5,836 | ▲ 32.3% |
| Financial charges65/66B | €8,963 | €19,291 | €15,219 | €21,819 | €18,324 | ▼ 16.0% |
| Recurring financial charges65 | €8,963 | €19,291 | €15,219 | €21,819 | €14,530 | ▼ 33.4% |
| Non-recurring financial charges66B | - | - | - | - | €3,794 | - |
| Profit (loss) for the period before taxes9903 | €303,061 | -€189,522 | €36,335 | -€390,183 | -€203,852 | ▲ 47.8% |
| Income taxes67/77 | €73,083 | - | €3,020 | €140 | €116 | ▼ 17.4% |
| Profit (loss) for the period9904 | €229,978 | -€189,522 | €33,315 | -€390,324 | -€203,968 | ▲ 47.7% |
| Transfer from tax-exempt reserves789 | €15,413 | €35,163 | €14,163 | - | €3,035 | - |
| Profit (loss) for the period to be appropriated9905 | €245,391 | -€154,359 | €47,478 | -€390,324 | -€200,932 | ▲ 48.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.1m | €1.1m | €804,588 | €693,329 | ▼ 13.8% |
| Fixed assets21/28 | €906,521 | €738,943 | €646,178 | €363,759 | €485,387 | ▲ 33.4% |
| Intangible fixed assets21 | €7,866 | €5,813 | €3,754 | €3,672 | €1,968 | ▼ 46.4% |
| Tangible fixed assets22/27 | €898,124 | €732,598 | €641,893 | €359,350 | €482,682 | ▲ 34.3% |
| Land and buildings22 | €781,904 | €689,519 | €579,847 | - | - | - |
| Plant, machinery and equipment23 | €30,101 | €21,720 | €21,220 | €64,353 | €93,423 | ▲ 45.2% |
| Furniture and vehicles24 | €78,848 | €14,833 | €10,759 | €271,073 | €293,732 | ▲ 8.4% |
| Leasing and similar rights25 | - | - | - | €7,277 | €5,469 | ▼ 24.8% |
| Other tangible fixed assets26 | €7,271 | €6,527 | €30,066 | €16,648 | €90,058 | ▲ 441% |
| Financial fixed assets28 | €532 | €532 | €532 | €737 | €737 | = |
| Current assets29/58 | €662,835 | €396,161 | €443,380 | €440,829 | €207,943 | ▼ 52.8% |
| Stocks and contracts in progress3 | €165,117 | €130,277 | €130,277 | €74,239 | €41,794 | ▼ 43.7% |
| Stocks30/36 | €165,117 | €130,277 | €130,277 | €74,239 | €41,794 | ▼ 43.7% |
| Amounts receivable within one year40/41 | €54,379 | €40,343 | €287,919 | €337,812 | €143,011 | ▼ 57.7% |
| Trade receivables40 | €1,112 | €36,521 | €308 | €55,932 | €55,121 | ▼ 1.5% |
| Other amounts receivable41 | €53,267 | €3,822 | €287,611 | €281,879 | €87,890 | ▼ 68.8% |
| Current investments50/53 | €162,496 | €99,942 | - | - | - | - |
| Cash at bank and in hand54/58 | €263,522 | €109,785 | €7,955 | €11,677 | €19,964 | ▲ 71.0% |
| Deferred charges and accrued income490/1 | €17,320 | €15,813 | €17,229 | €17,101 | €3,174 | ▼ 81.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.1m | €1.1m | €804,588 | €693,329 | ▼ 13.8% |
| Equity10/15 | €1.2m | €1.0m | €972,842 | €24,231 | -€185,570 | ▼ 866% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €4,288 | €4,288 | = |
| Capital10 | €20,000 | €20,000 | - | - | - | - |
| Issued capital100 | €20,000 | €20,000 | - | - | - | - |
| Outside capital11 | - | - | €20,000 | €4,288 | €4,288 | = |
| Share premium1100/10 | - | - | €20,000 | €4,288 | €4,288 | = |
| Reserves13 | €871,658 | €840,036 | €759,414 | €168,282 | €165,246 | ▼ 1.8% |
| Non-distributable reserves130/1 | €7,850 | €7,850 | €7,850 | €1,683 | €1,683 | = |
| Legal reserve130 | €7,850 | €7,850 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €7,850 | €1,683 | €1,683 | = |
| Tax-exempt reserves132 | €97,808 | €87,186 | €76,564 | €21,879 | €18,843 | ▼ 13.9% |
| Distributable reserves133 | €766,000 | €745,000 | €675,000 | €144,720 | €144,720 | = |
| Profit (loss) carried forward14 | €253,026 | €77,667 | €125,144 | -€163,516 | -€364,449 | ▼ 123% |
| Investment grants15 | €90,092 | €81,771 | €68,284 | €15,178 | €9,344 | ▼ 38.4% |
| Provisions and deferred taxes16 | €53,622 | €48,877 | €42,811 | - | - | - |
| Deferred taxes168 | €53,622 | €48,877 | €42,811 | - | - | - |
| Amounts payable17/49 | €280,959 | €66,754 | €73,905 | €780,357 | €878,900 | ▲ 12.6% |
| Amounts payable after more than one year17 | €15,063 | - | - | €277,164 | €225,285 | ▼ 18.7% |
| Financial debts170/4 | €15,063 | - | - | €277,164 | €225,285 | ▼ 18.7% |
| Amounts payable within one year42/48 | €265,896 | €66,754 | €73,905 | €478,563 | €609,271 | ▲ 27.3% |
| Current portion of amounts payable after more than one year42 | €21,683 | €16,734 | - | €58,081 | €55,309 | ▼ 4.8% |
| Financial debts43 | - | - | - | - | €1,234 | - |
| Credit institutions430/8 | - | - | - | - | €1,234 | - |
| Trade debts44 | €83,218 | €29,401 | €43,429 | €367,267 | €321,489 | ▼ 12.5% |
| Suppliers440/4 | €83,218 | €29,401 | €43,429 | €367,267 | €321,489 | ▼ 12.5% |
| Advances received on contracts in progress46 | - | - | - | - | €518 | - |
| Taxes, remuneration and social security45 | €129,395 | €20,485 | €30,476 | €53,215 | €38,321 | ▼ 28.0% |
| Taxes450/3 | €71,739 | €244 | - | - | €2,418 | - |
| Remuneration and social security454/9 | €57,656 | €20,240 | €30,476 | €53,215 | €35,903 | ▼ 32.5% |
| Other amounts payable47/48 | €31,600 | €135 | - | - | €192,400 | - |
| Accrued charges and deferred income492/3 | - | - | - | €24,630 | €44,344 | ▲ 80.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €229,978 | -€189,522 | €33,315 | -€390,324 | -€203,968 | ▲ 47.7% |
| + Depreciation and write-downs630 | €133,708 | €114,705 | €101,408 | €124,878 | €125,565 | ▲ 0.6% |
| Operating cash flow (approximation) | €363,686 | -€74,816 | €134,722 | -€265,446 | -€78,402 | ▲ 70.5% |
| Investment in fixed assets (approximation) | - | €52,872 | -€8,643 | €157,541 | -€247,193 | ▼ 257% |
| Change in cash | - | -€153,737 | -€101,830 | €3,722 | €8,287 | ▲ 123% |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€390,324
Net result drops to -€390,324, the lowest in the series; recovery starts the following year.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €33,315
Net result €33,315 after one loss-making year.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 22 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 5.93
Current ratio from 2.49 to 5.93; short-term debt falls from €265,896 to €66,754.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
31-12
Financial
Highest result since 2018net €229,978 ▲41.8%
Operating result €300,014, net result €229,978, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity doublescurrent ratio 2.22
Current ratio from 1.04 to 2.22; short-term debt falls from €328,486 to €151,397.
31-12
Financial
Equity above €1mEq €1.0m ▲17.3%
3 profitable years in a row build equity to €1.0m.
Show earlier events
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
14 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, Waterloo · 3 establishment units since 1983
Ground area
1.1 ha
Building footprint
975 m²
Volume, LiDAR
2,211 m³
4 parcels, Wallonia · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
54
companies at this address
See who is registered here
3 establishment units
LA MALLE POSTE - LA CALECHE
since 19832.022.761.883
FALS
since 20242.376.223.747
FALS
since 20242.361.930.501
4 parcels
Wallonia
4
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763I0362/00B000 | Wallonia | 7,205 m² | 1 · 347 m² | 10.5 m · 2 fl. |
| 91114A1131/00Y000 ProtectedMonument · Site or landscape |
Wallonia | 3,261 m² | 1 · 359 m² | - |
| 91114A1328/00H000 | Wallonia | 766 m² | 1 · 204 m² | - |
| 91114A1169/00B002 | Wallonia | 117 m² | 1 · 64 m² | - |
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesRochefort2.361.930.501
Rochefort2.022.761.883
Similar companies · same sector, comparable size
WOLF
BE 0765.588.633
Brugge · Eq €24,280
LAUGI IMMO
BE 0798.833.206
Beloeil · Eq €24,181
CONTINENTAL DE PANNE UITBATING
BE 0716.764.969
De Panne · Eq €24,147
THE KOTTAGE
BE 0452.989.307
Waterloo · Eq €24,020
LONPAR
BE 0823.550.091
Elsene · Eq €24,011
Of 2,393 companies in sector 55100 we hold annual accounts for 1,515. 718 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-08-1983
Fiscal year end31-12
Activities, NACEBEL 2025
55100Hotels and similar accommodation
56301Cafés and bars
Contact
Website
www.tero.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0424336891
Also
9925:BE0424336891
Registered
20-05-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.