FDU MANAGEMENT
ActiveSummary
FDU MANAGEMENT has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€24,130) and a net result of -€25,725. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 14284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-29
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.19 against 0.8 in 2024; short-term debt: 206.8% and cash: 28.6% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-122.8%
Return on assets
-130.9%
Age of the figures
12 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 -€24,130
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 09-03-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
44 d early
2023
53 d early
2022
45 d early
2021
40 d early
2020
53 d early
2019
44 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 47 days before 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 (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 16 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€24,130
2024 · €1,595
Total assets
€19,650▼ 55.9%
2024 · €44,567
Net result
-€25,725▼ 47.5%
2024 · -€17,439
Working capital
-€32,949▼ 361%
2024 · -€7,148
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€11,432€1,029▼ 91.0%€20,935▲ 1,934%-€15,647-€24,579▼ 57.1%
Net result€10,515within the sector's middle half€160within the sector's middle half▼ 98.5%€19,715within the sector's middle half▲ 12,260%-€17,439below the sector's middle half-€25,725below the sector's middle half▼ 47.5%
Equity-€840below the sector's middle half▲ 92.6%-€681below the sector's middle half▲ 19.0%€19,035within the sector's middle half€1,595below the sector's middle half▼ 91.6%-€24,130below the sector's middle half
Total assets€12,628below the sector's middle half▼ 32.0%€25,513below the sector's middle half▲ 102%€42,824below the sector's middle half▲ 67.9%€44,567below the sector's middle half▲ 4.1%€19,650below the sector's middle half▼ 55.9%
Debt€13,468▼ 55.0%€26,194▲ 94.5%€23,790▼ 9.2%€42,972▲ 80.6%€43,780▲ 1.9%
Working capital-€1,882within the sector's middle half▲ 85.4%-€1,203within the sector's middle half▲ 36.1%€11,119within the sector's middle half-€7,148within the sector's middle half-€32,949within the sector's middle half▼ 361%
Solvency-6.7%below the sector's middle half▲ 54.5pp-2.7%below the sector's middle half▲ 4.0pp44.4%within the sector's middle half▲ 47.1pp3.6%below the sector's middle half▼ 40.9pp-122.8%below the sector's middle half▼ 126.4pp
Current ratio0.86within the sector's middle half▲ 0.290.95within the sector's middle half▲ 0.091.88within the sector's middle half▲ 0.930.80within the sector's middle half▼ 1.090.19below the sector's middle half▼ 0.61
Return on assets (ROA)83.3%above the sector's middle half▲ 205.8pp0.6%within the sector's middle half▼ 82.6pp46.0%above the sector's middle half▲ 45.4pp-39.1%below the sector's middle half▼ 85.2pp-130.9%below the sector's middle half▼ 91.8pp
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 €24,579 in 2025 against €15,647 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €19,650
Fixed assets
€11,966 ▼ 28.3%
Current assets
€7,684 ▼ 72.4%
Key figures and ratios
EBITDA
-€19,899▼
2024 · -€10,997
Cash flow
-€21,045▼
2024 · -€12,789
Debt to equity
-1.81▼
2024 · 26.94
Interest coverage
-28.39▼
2024 · -8.04
Debt ≤ 1 year
€40,633▲
2024 · €35,026
Debt > 1 year
€3,147▼
2024 · €6,767
Income taxes
€447▲
2024 · €427
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,906 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.8%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,906 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €4,465 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €520 | €520 | €1,213 | €4,651 | €4,680 | ▲ 0.6% |
| Other operating charges640/8 | - | €1,736 | €2,754 | €2,010 | €2,185 | ▲ 8.7% |
| Gross operating margin9900 | €12,685 | €3,285 | €24,902 | -€8,986 | -€17,713 | ▼ 97.1% |
| Operating profit (loss)9901 | €11,432 | €1,029 | €20,935 | -€15,647 | -€24,579 | ▼ 57.1% |
| Financial income75/76B | - | €0 | €1 | €3 | €2 | ▼ 31.2% |
| Recurring financial income75 | €0 | €0 | €1 | €3 | €2 | ▼ 31.2% |
| Financial charges65/66B | - | €474 | €804 | €1,368 | €701 | ▼ 48.8% |
| Recurring financial charges65 | €450 | €474 | €804 | €1,368 | €701 | ▼ 48.8% |
| Profit (loss) for the period before taxes9903 | €10,983 | €556 | €20,132 | -€17,012 | -€25,278 | ▼ 48.6% |
| Income taxes67/77 | €468 | €396 | €417 | €427 | €447 | ▲ 4.7% |
| Profit (loss) for the period9904 | €10,515 | €160 | €19,715 | -€17,439 | -€25,725 | ▼ 47.5% |
| Profit (loss) for the period to be appropriated9905 | €10,515 | €160 | €19,715 | -€17,439 | -€25,725 | ▼ 47.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12,628 | €25,513 | €42,824 | €44,567 | €19,650 | ▼ 55.9% |
| Fixed assets21/28 | €1,042 | €522 | €19,087 | €16,689 | €11,966 | ▼ 28.3% |
| Tangible fixed assets22/27 | €1,000 | €480 | €19,044 | €16,646 | €11,966 | ▼ 28.1% |
| Furniture and vehicles24 | - | - | €18,684 | €16,406 | €11,846 | ▼ 27.8% |
| Other tangible fixed assets26 | - | €480 | €360 | €240 | €120 | ▼ 50.0% |
| Financial fixed assets28 | €42 | €42 | €42 | €42 | - | - |
| Current assets29/58 | €11,586 | €24,991 | €23,737 | €27,878 | €7,684 | ▼ 72.4% |
| Amounts receivable within one year40/41 | €7,169 | €14,555 | €10,045 | €21,488 | €781 | ▼ 96.4% |
| Trade receivables40 | - | €14,555 | €10,045 | €21,488 | €781 | ▼ 96.4% |
| Cash at bank and in hand54/58 | €3,326 | €9,309 | €12,494 | €5,164 | €5,613 | ▲ 8.7% |
| Deferred charges and accrued income490/1 | - | €1,127 | €1,198 | €1,226 | €1,290 | ▲ 5.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12,628 | €25,513 | €42,824 | €44,567 | €19,650 | ▼ 55.9% |
| Equity10/15 | -€840 | -€681 | €19,035 | €1,595 | -€24,130 | ▼ 1,613% |
| Contributions10/11 | - | €18,600 | €20,460 | €20,460 | €20,460 | = |
| Reserves13 | €16,583 | €16,583 | €14,723 | €14,723 | €14,723 | = |
| Non-distributable reserves130/1 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | €23 | €23 | €23 | €23 | = |
| Distributable reserves133 | - | €14,700 | €14,700 | €14,700 | €14,700 | = |
| Profit (loss) carried forward14 | -€36,023 | -€35,863 | -€16,148 | -€33,587 | -€59,312 | ▼ 76.6% |
| Amounts payable17/49 | €13,468 | €26,194 | €23,790 | €42,972 | €43,780 | ▲ 1.9% |
| Amounts payable after more than one year17 | - | - | €10,222 | €6,767 | €3,147 | ▼ 53.5% |
| Financial debts170/4 | - | - | €10,222 | €6,767 | €3,147 | ▼ 53.5% |
| Amounts payable within one year42/48 | €13,468 | €26,194 | €12,618 | €35,026 | €40,633 | ▲ 16.0% |
| Current portion of amounts payable after more than one year42 | - | - | €3,299 | €3,455 | €3,619 | ▲ 4.8% |
| Trade debts44 | €4,531 | €12,811 | €2,725 | €17,371 | €19,747 | ▲ 13.7% |
| Suppliers440/4 | - | €12,811 | €2,725 | €17,371 | €19,747 | ▲ 13.7% |
| Taxes, remuneration and social security45 | - | €10,121 | €4,429 | €3,804 | €1,007 | ▼ 73.5% |
| Taxes450/3 | - | €10,121 | €4,429 | €3,804 | €1,007 | ▼ 73.5% |
| Other amounts payable47/48 | - | €3,262 | €2,165 | €10,395 | €16,259 | ▲ 56.4% |
| Accrued charges and deferred income492/3 | - | - | €949 | €1,179 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,515 | €160 | €19,715 | -€17,439 | -€25,725 | ▼ 47.5% |
| + Depreciation and write-downs630 | €520 | €520 | €1,213 | €4,651 | €4,680 | ▲ 0.6% |
| Operating cash flow (approximation) | €11,035 | €679 | €20,928 | -€12,789 | -€21,045 | ▼ 64.6% |
| Investment in fixed assets (approximation) | - | €0 | -€19,777 | -€2,253 | €42 | ▲ 102% |
| Change in cash | - | €5,983 | €3,185 | -€7,330 | €449 | ▲ 106% |
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
09-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2018net €19,715 ▲12,260%
Operating result €20,935, net result €19,715, both a record.
16-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €10,515
Net result €10,515 after 2 loss-making years.
08-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet -€32,585
Net result drops to -€32,585, the lowest in the series; recovery starts the following year.
11-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-03
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 2 acts read
About the unread acts
We know of 2 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
2 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, Genappe · 1 establishment unit since 2008
Ground area
141 m²
Building footprint
127 m²
Volume, LiDAR
988 m³
Parcel 25034D0250/00P000, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FDU MANAGEMENT
since 20082.171.265.618
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25034D0250/00P000 | Wallonia | 141 m² | 1 · 126 m² | 9.8 m · 3 fl. |
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.
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Of 7,321 companies in sector 68110 we hold annual accounts for 5,387. 651 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
Founded27-05-2008
Fiscal year end30-09
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
68321Property management for co-owned buildings (syndics)
70200Business and other management consultancy
73300Public relations and communication consultancy
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0898426965
Also
9925:BE0898426965
Registered
16-12-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.