Turnover
≈ €8.0m estimated
The accounts state no turnover.
FARMAD
Lifetime
20 annual accounts with figures on one time axis, 25 filings since 2001peak €9.7m (2023)
-not published
lowest -€353,493 (2015)
€16,172▼ 20.0%
peak €802,106 (2006)
€649,510▲ 2.6%
€8.4m▲ 3.4%
peak 49.5 FTE (2015)
38.2 FTE▲ 0.8%
Board15 names since 2018all names
8 directorsAXOM BVBA and 7 others
Owners2 names in the annual accounts
consolidatesFARMAFRAME
Documentsfilings and deeds
13-07-202618 days before the deadline
2025financial year
Cash from €435,033 to €303,629
Key points
from the 2025 annual accountsDebts
€8.4m 93% of the balance sheet
Financial debts 35%Suppliers 12%Taxes and wages 10%Other 43%
Of this, €3.8m falls due within a year.
Staff
40 employees on 31-12-2025
In 2025, 3 people joined and 1 left.
Filings
25 annual accounts since 2001
Three of the last ten came late. The 2017 accounts came latest: 29 days after the end of the period.
Position in the sector
€4.6m
Higher gross margin than 95% of companies in computer programming and consultancy. Sector median €283,387 · 1,283 companies.
Public support
€327,328 awarded from 2022 to 2025
Flemish support, mostly Ontwikkelingsproject.
Checked score
69
Healthy
Financially stronger than 34% of small companies in computer programming and consultancy (NACE 62)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 1,167 companies (NACE 62, small).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.5%
01-2025: 0.5%● unchanged vs 12-2024
02-2025: 0.4%▼ -0.1 percentage points vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.5%▲ +0.1 percentage points vs 04-2025
06-2025: 0.5%● unchanged vs 05-2025
07-2025: 0.5%● unchanged vs 06-2025
08-2025: 0.4%▼ -0.1 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026lowest value
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.5%▲ +0.1 percentage points vs 06-2026
08-2026: 0.6%▲ +0.1 percentage points vs 07-2026highest value
09-2026: 0.6%● unchanged vs 08-2026highest value
10-2026: 0.6%● unchanged vs 09-2026highest value
11-2026: 0.6%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.72, cash €303,629
Equity €649,510 (7.2% of total assets)
Size: 38.2 FTE, total assets €9.0m
lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, small). It does better than 15% of them on solvency, 31% on liquidity, 49% on profitability and 40% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,217 companies had the same profile as FARMAD has now. Each dot stands for 4 companies, two years later.
95.9%
were still trading
2.5%
stopped another way
1.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FARMAD itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,217 companies, not a prediction for FARMAD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €40,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.72 (0.78 in 2024), below 1. Short-term debt is 41.9% and cash 3.4% of total assets. 92.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 1691 sector peers (2025).
NBB · sector comparisonPosition among 1691 sector peers
Solvency
better than 22%
← weakest
strongest →
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 days early
2024
16 days early
2023
20 days late
2022
35 days early
2021
17 days early
2020
15 days early
2019
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 16 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 14 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0473035544
1 director appointed, 1 resignation
Resignation: Yelle Corrynen · Appointment: Dieter Stas · Permanent representative: Luc Mertens · General meeting of 19-06-2023 · Gazette deed
Capital increase of €300,000 to €361,500
Capital from €61,500 to €361,500 · Resignation: INFORMATIE CENTRUM APOTHEKERS (director) · Permanent representatives: VAN REETH Philippe and MERTENS Luc Maria · General meeting of 28-06-2022 · Gazette deed
1 director appointed, 4 reappointments, 1 statutory auditor reappointed
Reappointments: Paul Meyten, Liesbeth Debruyn, ICA VZW, Axom BV and Vyvey & C° (statutory auditor) · Permanent representatives: Philippe Van Reeth, Luc Mertens and Steven Vyvey · Appointment: Tijs Neutens · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FARMAD Beveren-Kruibeke-Zwijndrecht | €9.0m | €4.6m | 7.2% | 38.2 |
| SOLVENTURE Ghent | €10.6m | €4.6m | 21.2% | 48.4 |
| XPOWER Merelbeke-Melle | €7.9m | €5.9m | 58.8% | 44.8 |
| AdminPulse Antwerp | €8.1m | €4.6m | 43.0% | 28.1 |
| CUSTOMS4TRADE Mechelen | €8.2m | €6.1m | 24.9% | 34.8 |
| ZAPPWARE Hasselt | €8.5m | €6.6m | 32.5% | 31.9 |
| SYNTEGRO Hasselt | €9.6m | €5.0m | 81.2% | 37.1 |
These companies have the same main activity as FARMAD: computer programming (NACE 62100). They are comparable in size and age: total assets between €7.9m and €11m, founded between 1993 and 2007.
Official details
Source: KBO- Status
- Active since 13-10-2000Normal situation
- Registered office
- 15 active companies are registered at this addressSource: KBO register, as of 9 November 2026.
- Activity
- Computer programmingNACE 62100and 2 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.131.849.8652018 Antwerp, since 14-12-2000
- 2.131.850.0639120 Beveren-Kruibeke-Zwijndrecht, since 25-03-2002and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 16-10-2024
Annual accounts 2025
- €9.0m▲ 3.3%
- Employeeson 31-12-2025
- 40▲ 5.3%
- Filing
- Filed on 13-07-2026, 18 days before the end of the filing period
Insights on FARMAD
FARMAD has existed since 2000. Turnover grew from €4.3m in 2006 to €9.4m in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FARMAD
- What is the company number of FARMAD?
- The company number of FARMAD is 0473.035.544. The VAT number is the same number with BE in front: BE 0473.035.544.
- Where is FARMAD based?
- The registered office is at Schaarbeekstraat 19, 9120 Beveren-Kruibeke-Zwijndrecht.Company details
- What does FARMAD do?
- According to the KBO register, the main activity is computer programming (NACE 62100).
- What is the legal form of FARMAD?
- FARMAD is a public limited company (NV).
- When was FARMAD founded?
- FARMAD was founded on 13-10-2000.
- Is FARMAD still active?
- Yes, FARMAD is an active enterprise in the KBO register.
- How many employees does FARMAD have?
- FARMAD had an average of 38.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does FARMAD fall under?
- In its 2025 annual accounts, FARMAD states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of FARMAD?
- The turnover in financial year 2025 is ≈ €8.0m. This figure is estimated from the gross margin of €4.6m and 33 comparable companies (NACE 62100). It probably lies between €6.3m and €9.7m. In financial year 2024 turnover was €9.4m.
- Is FARMAD profitable?
- In financial year 2025, FARMAD made a profit of €16,172.
- Where can I find the annual accounts of FARMAD?
- FARMAD filed 25 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FARMAD due?
- FARMAD must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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