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FARNAS DEVELOPMENT

Active Private limited companyfounded 2003active for 23 yearsSquare Roi Baudouin 22, 4684 OupeyeKBO/BCE: BE 0859.555.602 #7 company by equity in Oupeye, Professional and technical services sector
FARNAS DEVELOPMENT
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Overview

Lifetime

20 annual accounts with figures on one time axis, 23 filings since 2003
peak €163,804 (2017)
€132,839▼ 3.4%
lowest -€4,619 (2009)
€88,799▼ 3.9%
peak €1.2m (2025)
€1.2m▲ 8.2%
€42,204▲ 24.9%
Board1 name since 2021
1 directorMichel D’HULSTER
Documentsfilings and deeds
07-06-202654 days before the deadline
2025micro format
Dividend €833Debts from €33,798 to €42,204

Key points

from the 2025 annual accounts

Equity

€1.2m ▲ 8.2%

FARNAS DEVELOPMENT has made a profit without a break since 2011.

Investments

€2,263 1.6 × depreciation
202120232025

Green is investment, beige is depreciation.

Position in the sector

96.5%

Higher solvency than 95% of companies in advertising and market research. Sector median 53.3% · 8,615 companies.

Checked score

89
Excellent
Financially stronger than 73% of micro companies in advertising and market research (NACE 73)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.2% across 11,230 companies (NACE 73, micro).

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.3% 01-2025: 0.3%● unchanged vs 12-2024 02-2025: 0.3%● unchanged vs 01-2025 03-2025: 0.3%● unchanged vs 02-2025 04-2025: 0.4%▲ +0.1 percentage points vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025highest value 06-2025: 0.3%▼ -0.1 percentage points vs 05-2025 07-2025: 0.3%● unchanged vs 06-2025 08-2025: 0.3%● unchanged vs 07-2025 09-2025: 0.3%● unchanged vs 08-2025 10-2025: 0.3%● unchanged vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025 02-2026: 0.3%● unchanged vs 01-2026 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.3%● unchanged vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.3%● unchanged vs 05-2026 07-2026: 0.3%● unchanged vs 06-2026lowest value 08-2026: 0.3%● unchanged vs 07-2026lowest value 09-2026: 0.3%● unchanged vs 08-2026lowest value 10-2026: 0.3%● unchanged vs 09-2026lowest value 11-2026: 0.3%● unchanged vs 10-2026lowest value

Financial strength
Strong

100=equity 96.5% of total assets
100=short-term debt 3.4%
78-1return on assets 7.4%

Score breakdown

raises risk
Liquidity: current ratio 29.19
Size: total assets €1.2m
lowers risk
Founded in 2003
Equity €1.2m (96.5% of total assets)
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 73, micro). It does better than 87% of them on solvency, 97% on liquidity, 51% on profitability and 58% 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 very low class on 30-06-2025, 0.1% 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, 20,137 companies had the same profile as FARNAS DEVELOPMENT has now. Each dot stands for 51 companies, two years later.

95.0%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

That fits the bankruptcy probability of FARNAS DEVELOPMENT itself: 0.3% 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 20,137 companies, not a prediction for FARNAS DEVELOPMENT. 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 €100,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 29.19 (34.25 in 2024), above the usual 1.5. Short-term debt is 3.4% of total assets. 3.5% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 29.19
NBB · annual accounts
lowers risk · Founded in 2003
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
lowers risk · Equity €1.2m (96.5% of total assets)
NBB · annual accounts
raises risk · Size: total assets €1.2m
Companies of this size fail more often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
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 07-06-2026, 54 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
54 days early
2024
87 days early
2023
106 days early
2022
102 days early
2021
60 days early
2020
16 days late
2019
7 days late
← 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 55 days before the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% 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 5 May (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

MD
Michel D’HULSTER
Director, since 18-07-2024
Board & ownership

Recent changes

Amendment of the articles · Legal-form change · Resignations & appointments Change of role: Michel D’HULSTER, from manager to director · Director discharge: Michel D’HULSTER · General meeting of 18-07-2024 · Gazette deed
Incorporation published on 22-07-2003 · Gazette deed
First establishment Avenue Emile-Digneffe 37, Liège
All 33 events

Comparable companies

same main activity, similar in size and age
Company
FARNAS DEVELOPMENT Oupeye €1.2m €132,839 96.5% -
BOVEROUX ETUDES & CONSEILS Liège €1.4m €115,712 25.2% -
BUSINESS CENTER & SERVICES GROUP Seneffe €0.9m €133,898 32.4% -
DEKODER Leuven €1.2m €87,842 73.4% -
LINK42 Wemmel €1.0m €128,909 76.2% -
BENFRA Zulte €0.9m €117,920 67.6% -
IECON INTERNATIONAL Poperinge €1.2m €128,027 32.9% -

These companies have the same main activity as FARNAS DEVELOPMENT: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €902,000 and €1.4m, founded between 2000 and 2005.

Official details

Source: KBO
Status
Active since 02-07-2003Normal situation
Activity
Market research and public opinion pollingNACE 73200
Establishment unit
2.132.230.4424000 Liège, since 02-07-2003
Financial year end
31 December
Peppol
Reachable
Company details

Annual accounts 2025

€132,839▼ 3.4%
≈ €240,000estimated
€88,799▼ 3.9%
€1.2m▲ 8.2%
€1.2m▲ 8.7%
Filing
Filed on 07-06-2026, 54 days before the end of the filing period
Financials

Insights on FARNAS DEVELOPMENT

FARNAS DEVELOPMENT files the micro format. That format states no turnover. The gross margin rose from €1,524 in 2006 to €132,839 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 07-06-2026, 54 days before the deadline
€132,839
▼ 3.4%
€129,355
▼ 3.9%
€88,799
▼ 3.9%
€1.2m
▲ 8.1%
96.5%
▼ 0.5 percentage points
29.19
▼ 5.06

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €240,000. Estimated: probably between €180,000 and €490,000.

In the rankings #7 company by equity in Oupeye, Professional and technical services sector

Balance sheet

balance sheet total €1.2m on 31-12-2025
What the company ownsHow it is paid for

in €m

Position in the sector

Compare with sector

96.5%

Higher than 95% of 8,615 companies in 2025.

29.19

Higher than 95% of 8,291 companies in 2025.

7.4%

Higher than 44% of 8,400 companies in 2025.

FARNAS DEVELOPMENT Middle half of the sector 80% of the sector Micro accounts in advertising and market research (NACE 73)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 1.2m1.1m1.0m943,708854,071761,184678,020606,323539,830466,412365,503266,771170,048105,27355,76242,63641,87442,40251,66748,768
21/28 5,2304,3915,5596773,928-----1,6811,0081,8548624543707416501,300-
22/27 5,2304,3915,5596773,928-----1,6811,0081,8548624543707416501,300-
24 2,4301,1911,9596773,928-----1,6811,0081,8548624543707416501,300-
26 2,8003,2003,600-----------------
29/58 1.2m1.1m1.0m943,031850,142761,184678,020606,323539,830466,412363,822265,763168,193104,41255,30842,26641,13341,75250,36748,768
40/41 1.2m1.1m1.0m928,521839,497759,844663,296605,689523,048452,240349,839249,727167,15192,78455,01033,98839,17335,14848,76246,872
40 27,33027,36729,04415,62116,07832,28914,67431,12415,15418,43117,62714,34033,80818,13711,93214,44913,96913,46312,77112,674
41 1.2m1.1m997,763912,900823,418727,556648,622574,565507,893433,808332,213235,387133,34374,64843,07819,53925,20421,68535,99134,198
54/58 --12513,7889,956-14,033-15,36613,11013,58415,771-10,617-7,7221,5526,2061,1741,896
490/1 8688147677226901,3406906341,4161,0623982661,0421,010298555409398431-
Balance sheet: equity and liabilities
10/49 1.2m1.1m1.0m943,708854,071761,184678,020606,323539,830466,412365,503266,771170,048105,27355,76242,63641,87442,40251,66748,768
10/15 1.2m1.1m984,996891,794796,638699,857610,275514,836424,900329,441244,389161,88278,21430,98516,54513,45613,96718,58621,99724,234
10/11 12,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,400
100 ------18,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
101 ------6,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,200
13 1.2m1.1m972,489879,289784,189687,439597,489501,289411,389315,989230,989148,36064,86017,86014,36014,36014,36014,36014,36014,360
130/1 --1,8601,8601,8601,860--------------
130 ------1,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,860
1311 --1,8601,8601,8601,860--------------
133 1.2m1.1m970,629877,429782,329685,579595,629499,429409,529314,129229,129146,50063,00016,00012,50012,50012,50012,50012,50012,500
14 11310910710549183861,1471,1111,0521,0001,122954725-10,215-13,304-12,793-8,174-4,763-2,526
17/49 42,20433,79848,26151,91457,43261,32767,74591,486114,930136,970121,113104,88991,83474,28839,21729,17927,90623,81629,67024,534
17 ---------4,879----------
170/4 ---------4,879----------
42/48 41,15832,28847,13550,39655,96660,10065,56089,767113,407130,717119,149103,64190,42671,39938,43428,12826,60122,36128,45024,134
42 10,122-13,918--5,8146,30412,43010,88466,687----------
43 14,53012,47812,16511,30311,03713,71910,07114,83610,0004,9704,0932,09215,2146,39313,2756,3266,3286,3163,496-
430/8 14,53012,47812,16511,30311,03713,71910,07114,83610,0004,9704,0932,09215,2146,39313,2756,3266,3286,3163,496-
44 4,3812,5842,9136,6623,5862,6255,4993,8336,6265,1275,0264,1435,80414,1131,9312,2093,6753,0871,6774,091
440/4 4,3812,5842,9136,6623,5862,6255,4993,8336,6265,1275,0264,1435,80414,1131,9312,2093,6753,0871,6774,091
45 11,29216,36717,33931,63038,34334,14239,87554,86982,89750,932107,03094,40666,40850,89223,22719,59416,59812,95823,27720,043
450/3 11,29216,36717,33931,63038,34334,14239,87554,86982,89750,932107,03094,40666,40850,89223,22719,59416,59812,95823,27720,043
47/48 8338598008003,0003,8003,8123,8003,0003,0003,0003,0003,000-------
492/3 1,0461,5091,1261,5181,4661,2272,1851,7191,5241,3751,9641,2491,4082,8907841,0511,3051,4551,219401
Income statement
9900 132,839137,506139,563146,748146,796134,369147,599139,444163,804149,009151,292149,56283,85036,39213,3324,952-2577481,4531,524
630 1,4241,1681,4213,2512,574----1,6812,0588465882104273701,020650650-
640/8 2,0601,7531,5022,7002,0172,3052,0859601,5625745737645695647011,162629685544690
9901 129,355134,585136,639140,797142,205132,064145,514138,483162,243146,754148,661147,95282,69335,61812,2043,420-1,906-586260834
75/76B 00-010000000-0------
75 00-010000000-0------
65/66B 3,8753,7873,6323,7663,9214,1715,3846,9416,3544,5782,9335,09110,21212,1028,5653,9312,7132,8243,2602,248
65 3,8753,7873,6323,7663,9214,1715,3846,9416,3544,5782,9335,09110,21212,1028,5653,9312,7132,8243,2602,248
9903 125,481130,799133,008137,031138,285127,893140,131131,542155,889142,177145,728142,86172,48123,5163,639-511-4,619-3,411-3,000-1,414
67/77 36,68138,40239,00541,07541,50437,51143,88040,80560,43157,12563,22059,19325,2519,076551----763800
9904 88,79992,39794,00295,95696,78190,38296,25090,73795,45885,05282,50883,66847,22914,4403,088-511-4,619-3,411-2,237-2,214
9905 88,79992,39794,00295,95696,78190,38296,25090,73795,45885,05282,50883,66847,22914,4403,088-511-4,619-3,411-2,237-2,214
Appropriation of the result
9906 88,90892,50494,10796,00596,79990,76897,39891,84796,51186,05283,62984,62247,9544,225-10,215-13,304-12,793-8,174-4,763-2,526
14P 1091071054918---------------
791/2 833859800800---800------------
691/2 88,79592,39594,00095,90096,75089,95096,20090,70095,40085,00082,62983,50047,0003,500------
6921 88,79592,39594,00095,90096,75089,95096,20090,70095,40085,00082,62983,50047,0003,500------
694/7 833859800800-800812800------------
694 833859800800-800812800------------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 3 older financial years (2003-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 15 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 07-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 07-06-2026 2026-00141787 PDF
31-12-2024 micro format 05-05-2025 2025-00089152 PDF
31-12-2023 micro format 16-04-2024 2024-00064130 PDF
31-12-2022 micro format 20-04-2023 2023-00062784 PDF
31-12-2021 micro format 01-06-2022 2022-20044532 PDF
31-12-2020 micro format 16-08-2021 2021-49000475 PDF
31-12-2019 micro format 07-08-2020 2020-40200385 PDF
31-12-2018 micro format 24-07-2019 2019-37600491 PDF
31-12-2017 micro format 24-08-2018 2018-50900320 PDF
31-12-2016 micro format 07-08-2017 2017-41700047 PDF
31-12-2015 full format 11-07-2016 2016-30100050 PDF
31-12-2014 full format 01-06-2015 2015-14000568 PDF
31-12-2013 full format 07-08-2014 2014-40500010 PDF
31-12-2012 full format 02-05-2013 2013-11000339 PDF
31-12-2011 full format 10-08-2012 2012-40200519 PDF
31-12-2010 full format 08-08-2011 2011-38600318 PDF
31-12-2009 full format 23-07-2010 2010-33700099 PDF
31-12-2008 full format 23-07-2009 2009-45400225 PDF
31-12-2007 full format 18-07-2008 2008-42800355 PDF
31-12-2006 full format 19-07-2007 2007-42600297 PDF
31-12-2005 full format 23-06-2006 2006-31205107 PDF
31-12-2004 full format 27-06-2005 2005-34701468 PDF
31-12-2003 full format 23-06-2004 2004-30303995 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
130,780135,753138,060144,048144,779----148,435150,719148,79883,28035,82812,6313,790-88664910-
90,22493,56495,42499,20799,355----86,73284,56684,51447,81714,6513,515-140-3,598-2,761-1,587-
2,26306,30306,502----02,73101,58061851101,11101,950-
---13,6633,832----2,257-475-2,186----6,170-4,6545,032-722-
1.2m1.1m980,563892,635794,176701,084612,460516,555426,423335,695244,673162,12277,76833,01316,87514,13714,53219,39121,91624,634
96.5%97.0%95.3%94.5%93.3%91.9%90.0%84.9%78.7%70.6%66.9%60.7%46.0%29.4%29.7%31.6%33.4%43.8%42.6%49.7%
29.1934.2521.8018.7115.1912.6710.346.754.763.573.052.561.861.461.441.501.551.871.772.02
0.040.030.050.060.070.090.110.180.270.420.500.651.172.402.372.172.001.281.351.01
7.6%8.6%9.5%10.8%12.1%12.9%15.8%17.6%22.5%25.8%33.8%51.7%60.4%46.6%18.7%-3.8%-33.1%-18.4%-10.2%-9.1%
7.4%8.3%9.1%10.2%11.3%11.9%14.2%15.0%17.7%18.2%22.6%31.4%27.8%13.7%5.5%-1.2%-11.0%-8.0%-4.3%-4.5%
33.7535.8538.0238.2536.93---------------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€2,263-€6,303-€6,502
Financial fixed assets€0----
€1,424€1,168€1,421€3,251€2,574

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on FARNAS DEVELOPMENT

The operating result for 2025 is 4% lower than in 2024 and the lowest since 2013. It is the fourth fall in a row.

Debt's share of the balance-sheet total rises from 3.0% to 3.5%. Equity and debt are higher.

Board & ownership

Board

1 director, no change since 2024
Michel D’HULSTER
Director (not named in the articles)
since 18-07-2024 term without a fixed end
earlier manager, until 26-07-2024
listed in the 2025 annual accounts, filed on 07-06-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Michel D’HULSTER
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
  • Michel D’HULSTER
    • Director (not named in the articles), since before 31-12-2021
    • Manager, until 26-07-2024

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€12,400
Source
2025 annual accounts

Articles of association

deed of 26-07-2024 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Moitié à charge du cédant et moitié à charge du ou des acquéreurs proportionnellement au nombre d’actions acquises, héritiers et légataires…”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Fourth Friday of May at 17:00
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Dissolution pour quelque cause et à quelque moment, peut désigner liquidateurs et déterminer pouvoirs et émoluments”

Capital transactions

Capital over time
  1. 26-07-2024 Converted to unavailable equity · €14,260
  2. 26-07-2024 Converted to uncalled contributions · €6,200

Network & group

No group

FARNAS DEVELOPMENT has no parent and no holdings in its annual accounts. Michel D’HULSTER is the only director. FARNAS DEVELOPMENT shares no director with another company.

Timeline

Timeline

33 events since 2003

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed PDFmicro format · 54 days before the deadline
2025
Annual accounts 2024 filed PDFmicro format · 87 days before the deadline
2024
Equity above €1m equity €1.1m ▲9.3% After 14 profitable years in a row, equity reaches €1.1m.
Amendment of the articles · Legal-form change · Resignations & appointmentsChange of role: Michel D’HULSTER, from manager to director · Director discharge: Michel D’HULSTER · General meeting of 18-07-20247 points ▸
  • Director appointment, Michel D’HULSTER (director (not named in the articles))
  • Director resignation, Michel D’HULSTER (manager)
  • Director discharge, Michel D’HULSTER
  • Registered office clause, Square Roi Baudouin 22, 4684 OUPEYE
  • General meeting, 18-07-2024
  • Incorporation, 21-06-2003
  • 100 shares
  • The deed holds 4 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2023 filed PDFmicro format · 106 days before the deadline
2023
Annual accounts 2022 filed PDFmicro format · 102 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 60 days before the deadline
2021
Highest result from 2006 to 2025 net €96,781 ▲7.1% The net result of €96,781 is the highest of those years.
Annual accounts 2020 filed PDFmicro format · 16 days late
2020
Annual accounts 2019 filed PDFmicro format · 7 days late
2019
Annual accounts 2018 filed PDFmicro format · 7 days before the deadline
2018
Equity above €500,000 equity €514,836 ▲21.2% After 8 profitable years in a row, equity reaches €514,836.
Annual accounts 2017 filed PDFmicro format · 24 days late
2017
Annual accounts 2016 filed PDFmicro format · 7 days late
2016
Annual accounts 2015 filed PDFfull format · 20 days before the deadline
2015
Equity above €200,000 equity €244,389 ▲51% After 5 profitable years in a row, equity reaches €244,389.
Annual accounts 2014 filed PDFfull format · 60 days before the deadline
2014
Equity above €150,000 equity €161,882 ▲107% After 4 profitable years in a row, equity reaches €161,882.
Annual accounts 2013 filed PDFfull format · 7 days late
2013
Annual accounts 2012 filed PDFfull format · 90 days before the deadline
2012
Annual accounts 2011 filed PDFfull format · 10 days late
2011
Back to profit net €3,088 The net result is €3,088, after 5 loss-making years.
Annual accounts 2010 filed PDFfull format · 8 days late
2010
Annual accounts 2009 filed PDFfull format · 8 days before the deadline
2009
Weakest financial year net -€4,619 The net result drops to -€4,619, the lowest from 2006 to 2025. It recovers the following year.
Annual accounts 2008 filed PDFfull format · 8 days before the deadline
2008
Annual accounts 2007 filed PDFfull format · 13 days before the deadline
2007
Annual accounts 2006 filed PDFfull format · 12 days before the deadline
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Incorporation PDFpublished on 22-07-2003
First establishment Avenue Emile-Digneffe 37, Liège

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

FARNAS DEVELOPMENT was incorporated on 2 July 2003.1 Since 2024, Michel D’HULSTER has served as director.2 Total assets rose from €606,323 in 2018 to €1.2m in 2025.3

  1. 1KBO register
  2. 2National Bank, annual accounts 2025
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0859.555.602
VAT number
BE 0859.555.602
Peppol ID
0208:0859555602
Other Peppol ID
9925:BE0859555602
Legal form
Private limited company
Status
Active, normal situation
Founded
02-07-2003
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Fourth Friday of May at 17:00
deed of 26-07-2024 (in French)
Peppol
Reachable via PeppolFollow this company and you will hear the next morning if it leaves the Peppol register.
Name
FARNAS DEVELOPMENT in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 26-07-2024 (in French)

Activities

NACEBEL 2025
73200 Market research and public opinion polling main activity
Codes under NACEBEL 2008
73200 Advertising, market research and public relations activities main activity
Codes under NACEBEL 2003
74131 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“L'exercice,en son nom et pour son compte,la mission d'études techniques et l'activité d'ingénierie industrielle pour la réalisation de…”
7 activities
  1. L'exercice,en son nom et pour son compte,la mission d'études techniques et l'activité d'ingénierie industrielle pour la réalisation de projets de grands ensembles
  2. La gestion de contrats d'opérations et maintenances de grands ensembles tels que hôpitaux,usines,immeubles privés ou publiques,collectifs etc....
  3. La gestion de constructions et d'installations d'équipement industriel notamment dans le secteur défense
  4. L'étude de stratégie industrielle et la recherche de partenaires,synergies,associations pour compte de tiers,de négociations commerciales de tous contrats
  5. L'activité d'intermédiaire sous quelque forme que ce soit pour compte propre ou de tiers dans le domaine de l'industrie et du commerce
  6. Toute activité de gestion,d'administration,de direction,d'organisation
  7. Assurer la gestion journalière et la représentation dans les opérations relevant de cette gestion au profit de tiers ou pour leur compte dans ce cadre
deed of 26-07-2024 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Square Roi Baudouin 22 registered office 4684 Oupeye
Avenue Emile-Digneffe 37 4000 Liège 70200 Business and other management consultancy 02-07-2003 2.132.230.442

Buildings and parcels at the addresses

Ground area
1,477 m²
Buildings
263 m²
Volume, LiDAR
5,603 m³
Tallest building
30.0 m
Buildings to scale, each on its own parcel
166 m², 30.0 m 96 m², 8.8 m 166 m², 30.0 m 96 m², 8.8 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
62814C0088/00H0061,032 m² 1 · 166 m² 30.0 m · 10
62048B0577/00H000445 m² 1 · 96 m² 8.8 m · 3

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