FARN
Open bankruptcyA bankruptcy procedure is open for FARN according to publications in the Belgian State Gazette; curator: CATHARINA ORLENT.
Summary
The 2024 annual accounts show negative equity (-€688,180) and a net result of -€156,607.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Dendermonde division
- Declared bankrupt
- 2 March 2026
- Supervising judge
- Johan Lybeert
- Official Gazette
- 06-03-2026 (pdf) ↗search the document for 2026/109350
Deadlines
- Provisional date payments stopped
- 2 March 2026A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 21 March 2026Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 1 April 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 10 April 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 2 March 2027Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Catharina OrlentPr.Jos.Charlottelaan 71, 9100 Sint-Niklaascatharina.orlent@mc2-advocaten.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€688,180
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
26 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 40 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 (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Development of residential building projects sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
€625,390▲ 123%
2019 · €279,950
EBIT margin
-10.9%▼ 25.7pp
2019 · 14.8%
Net result
-€156,607▼ 48.3%
2023 · -€105,629
Working capital
-€613,545▼ 31.8%
2023 · -€465,597
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Line20202021202220232024
Turnover€625,390
Operating result-€20,156-€68,134▼ 238%-€276,967▼ 307%-€100,703▲ 63.6%-€156,589▼ 55.5%
Net result-€20,322below the sector's middle half-€105,765below the sector's middle half▼ 420%-€322,762below the sector's middle half▼ 205%-€105,629below the sector's middle half▲ 67.3%-€156,607below the sector's middle half▼ 48.3%
EBIT margin-10.9%
Equity€2,583below the sector's middle half▼ 88.4%-€103,182below the sector's middle half-€425,944below the sector's middle half▼ 313%-€531,573below the sector's middle half▼ 24.8%-€688,180below the sector's middle half▼ 29.5%
Total assets€911,856within the sector's middle half▲ 1,594%€1.3mabove the sector's middle half▲ 47.7%€1.5mabove the sector's middle half▲ 8.8%€980,128within the sector's middle half▼ 33.1%€493,700within the sector's middle half▼ 49.6%
Debt€909,273▲ 2,776%€1.4m▲ 59.4%€1.9m▲ 30.5%€1.5m▼ 20.1%€1.2m▼ 21.8%
Working capital€787,916above the sector's middle half-€98,023below the sector's middle half-€367,714below the sector's middle half▼ 275%-€465,597below the sector's middle half▼ 26.6%-€613,545below the sector's middle half▼ 31.8%
Solvency0.3%below the sector's middle half▼ 41.0pp-7.7%below the sector's middle half▼ 7.9pp-29.1%below the sector's middle half▼ 21.4pp-54.2%below the sector's middle half▼ 25.2pp-139.4%below the sector's middle half▼ 85.2pp
Current ratio12.78above the sector's middle half▲ 12.100.93within the sector's middle half▼ 11.850.80within the sector's middle half▼ 0.130.67within the sector's middle half▼ 0.120.44within the sector's middle half▼ 0.23
Return on assets (ROA)-2.2%below the sector's middle half▼ 61.9pp-7.9%below the sector's middle half▼ 5.6pp-22.0%below the sector's middle half▼ 14.2pp-10.8%below the sector's middle half▲ 11.2pp-31.7%below the sector's middle half▼ 20.9pp
Staff (FTE)11
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €156,589 in 2024 against €100,703 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €493,700
Fixed assets
€7,092 ▼ 55.0%
Current assets
€486,608 ▼ 49.5%
Key figures and ratios
EBITDA
-€147,930▼
2023 · -€91,662
Cash flow
-€147,948▼
2023 · -€96,588
Quick ratio
0.06▲
2023 · 0.05
Debt to equity
-1.72▲
2023 · -2.84
Interest coverage
-472.62▼
2023 · -18.35
Debt ≤ 1 year
€1.1m▼
2023 · €1.4m
Income taxes
€217▲
2023 · €168
Staff costs
€19,068▲
2023 · €12,606
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €625,390 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €662,497 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €2,061 | €29,668 | €12,606 | €19,068 | ▲ 51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,430 | €25,186 | €12,546 | €9,041 | €8,659 | ▼ 4.2% |
| Other operating charges640/8 | - | €3,780 | €7,146 | €16,172 | €2,512 | ▼ 84.5% |
| Gross operating margin9900 | €10,951 | -€37,107 | -€227,607 | -€62,884 | -€126,350 | ▼ 101% |
| Operating profit (loss)9901 | -€20,156 | -€68,134 | -€276,967 | -€100,703 | -€156,589 | ▼ 55.5% |
| Financial income75/76B | - | €48 | €364 | €238 | €512 | ▲ 115% |
| Recurring financial income75 | - | €48 | €364 | €238 | €512 | ▲ 115% |
| Financial charges65/66B | - | €37,197 | €45,934 | €4,996 | €313 | ▼ 93.7% |
| Recurring financial charges65 | €166 | €37,197 | €45,934 | €4,996 | €313 | ▼ 93.7% |
| Profit (loss) for the period before taxes9903 | -€20,322 | -€105,283 | -€322,537 | -€105,461 | -€156,390 | ▼ 48.3% |
| Income taxes67/77 | - | €482 | €225 | €168 | €217 | ▲ 29.2% |
| Profit (loss) for the period9904 | -€20,322 | -€105,765 | -€322,762 | -€105,629 | -€156,607 | ▼ 48.3% |
| Profit (loss) for the period to be appropriated9905 | -€20,322 | -€105,765 | -€322,762 | -€105,629 | -€156,607 | ▼ 48.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €911,856 | €1.3m | €1.5m | €980,128 | €493,700 | ▼ 49.6% |
| Fixed assets21/28 | €57,068 | €31,882 | €24,792 | €15,751 | €7,092 | ▼ 55.0% |
| Tangible fixed assets22/27 | €56,968 | €31,782 | €24,692 | €15,651 | €6,992 | ▼ 55.3% |
| Plant, machinery and equipment23 | - | €1,339 | €7,801 | €4,485 | €1,552 | ▼ 65.4% |
| Furniture and vehicles24 | - | €30,443 | €16,891 | €11,166 | €5,440 | ▼ 51.3% |
| Financial fixed assets28 | €100 | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €854,789 | €1.3m | €1.4m | €964,377 | €486,608 | ▼ 49.5% |
| Stocks and contracts in progress3 | €665,478 | €1.2m | €811,393 | €898,761 | €421,425 | ▼ 53.1% |
| Stocks30/36 | - | €690,228 | €485,367 | €441,000 | €148,500 | ▼ 66.3% |
| Contracts in progress37 | - | €480,751 | €326,026 | €457,761 | €272,925 | ▼ 40.4% |
| Amounts receivable within one year40/41 | €40,515 | €24,678 | €606,366 | €24,729 | €31,127 | ▲ 25.9% |
| Trade receivables40 | - | €24,678 | €606,366 | €23,580 | €23,912 | ▲ 1.4% |
| Other amounts receivable41 | - | €0 | - | €1,149 | €7,215 | ▲ 528% |
| Cash at bank and in hand54/58 | €17,370 | €119,017 | €20,251 | €40,393 | €24,231 | ▼ 40.0% |
| Deferred charges and accrued income490/1 | - | - | €2,668 | €494 | €9,825 | ▲ 1,889% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €911,856 | €1.3m | €1.5m | €980,128 | €493,700 | ▼ 49.6% |
| Equity10/15 | €2,583 | -€103,182 | -€425,944 | -€531,573 | -€688,180 | ▼ 29.5% |
| Contributions10/11 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Profit (loss) carried forward14 | -€9,917 | -€115,682 | -€438,444 | -€544,073 | -€700,680 | ▼ 28.8% |
| Amounts payable17/49 | €909,273 | €1.4m | €1.9m | €1.5m | €1.2m | ▼ 21.8% |
| Amounts payable after more than one year17 | €842,400 | - | - | - | - | - |
| Amounts payable within one year42/48 | €66,873 | €1.4m | €1.8m | €1.4m | €1.1m | ▼ 23.1% |
| Financial debts43 | - | €1.3m | €1.7m | €1.4m | €1.1m | ▼ 22.1% |
| Credit institutions430/8 | - | €1.3m | €1.7m | €1.4m | €1.1m | ▼ 22.1% |
| Trade debts44 | €46,318 | €73,548 | €68,645 | €25,274 | €15,855 | ▼ 37.3% |
| Suppliers440/4 | - | €73,548 | €68,645 | €25,274 | €15,855 | ▼ 37.3% |
| Advances received on contracts in progress46 | - | - | €21,892 | - | - | - |
| Taxes, remuneration and social security45 | - | €13,431 | €5,018 | €13,786 | €1,267 | ▼ 90.8% |
| Taxes450/3 | - | €4,044 | €4,158 | €12,277 | €1,267 | ▼ 89.7% |
| Remuneration and social security454/9 | - | €9,387 | €860 | €1,509 | - | - |
| Other amounts payable47/48 | - | €19,986 | €6,356 | €1,973 | €1,090 | ▼ 44.8% |
| Accrued charges and deferred income492/3 | - | €37,041 | €83,022 | €81,727 | €81,727 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,322 | -€105,765 | -€322,762 | -€105,629 | -€156,607 | ▼ 48.3% |
| + Depreciation and write-downs630 | €15,430 | €25,186 | €12,546 | €9,041 | €8,659 | ▼ 4.2% |
| Operating cash flow (approximation) | -€4,892 | -€80,579 | -€310,216 | -€96,588 | -€147,948 | ▼ 53.2% |
| Investment in fixed assets (approximation) | - | -€0 | -€5,456 | €0 | €0 | - |
| Change in cash | - | €101,647 | -€98,766 | €20,142 | -€16,162 | ▼ 180% |
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
2026
06-03
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · event 02-03-2026
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€322,762
Net result drops to -€322,762, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Liquidity times 19current ratio 12.78
Current ratio from 0.68 to 12.78.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Back to profitnet €32,104
Net result €32,104 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Temse · 1 establishment unit since 2017
Ground area
793 m²
Building footprint
182 m²
Volume, LiDAR
86 m³
2 parcels, Flanders, Wallonia · tallest building 2.7 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
FARN
since 20172.266.012.842
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25112L0346/00_000 | Wallonia | 617 m² | 1 · 104 m² | - |
| 46026A0703/00A011 | Flanders | 176 m² | 1 · 77 m² | 2.7 m |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CATHARINA ORLENT PR.JOS.CHARLOTTELAAN 71,
9100 SINT-NIKLAAS |
02-03-2026 → present |
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 1,507 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
Founded05-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
43120Site preparation
43230Insulation installation
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.