FEDEG
ActiveSummary
The computed 12-month bankruptcy probability of FEDEG is 4.5% (elevated). The 2025 annual accounts show equity of €19,935 and a net result of €16,392. Equity is shrinking by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 20% of 4664 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+65
Solvency32▲+6
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
4.5%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity short (current ratio 0.94 against 0.87 in 2024; short-term debt: 86.3% of total assets), and 93% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
7%
Return on assets
5.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 4664 sector peers (2025).
NBB · sector comparisonPosition among 4664 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-09-2026, 47 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 · 6 filingsDeviation from the deadline
2025
47 d late
2024
68 d late
2023
69 d late
2022
63 d late
2021
142 d late
2020
60 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 75 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€16,392
2024 · -€21,966
Working capital
-€13,910▲ 60.8%
2024 · -€35,478
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€7,835▼ 50.4%€25,357▲ 224%-€5,781-€15,787▼ 173%€28,967
Net result€5,743▼ 59.5%€19,877▲ 246%-€17,309-€21,966▼ 26.9%€16,392
Equity€22,940▲ 33.4%€42,817▲ 86.6%€25,508▼ 40.4%€3,543▼ 86.1%€19,935▲ 463%
Total assets€212,349▲ 63.9%€122,392▼ 42.4%€132,208▲ 8.0%€314,265▲ 138%€283,207▼ 9.9%
Debt€189,409▲ 68.6%€79,576▼ 58.0%€106,700▲ 34.1%€310,722▲ 191%€263,272▼ 15.3%
Working capital€2,590€40,279▲ 1,455%€17,250▼ 57.2%-€35,478-€13,910▲ 60.8%
Staff (FTE)3.8▲ 280%3▼ 21.1%3.5▲ 16.7%4.1▲ 17.1%3.4▼ 17.1%
Why a figure moved sharply
- 2024 Total assets +138% on 2023. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €28,967 after a loss of €15,787 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €283,207
Fixed assets
€52,845 ▼ 26.1%
Current assets
€230,362 ▼ 5.1%
Equity and liabilities €283,207
Equity
€19,935 ▲ 463%
Debt
€263,272 ▼ 15.3%
Debt's share of the balance-sheet total falls from 98.9% to 93.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€38,897▲
2024 · €425
Cash flow
€26,322▲
2024 · -€5,754
Current ratio
0.94▲
2024 · 0.87
Debt to equity
13.21▼
2024 · 87.71
ROE
82.2%▲
2024 · -620.1%
ROA
5.8%▲
2024 · -7.0%
Interest coverage
9.18▲
2024 · 0.07
Debt ≤ 1 year
€244,272▼
2024 · €278,281
Debt > 1 year
€19,000▼
2024 · €32,441
Income taxes
€8,336
Staff costs
€106,026▼
2024 · €133,940
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,151 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 4.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,151 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €123,235 | €85,540 | €132,494 | €133,940 | €106,026 | ▼ 20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,923 | €7,356 | €8,845 | €16,212 | €9,930 | ▼ 38.8% |
| Other operating charges640/8 | €8,290 | €6,759 | €8,670 | €17,907 | €9,763 | ▼ 45.5% |
| Non-recurring operating charges66A | €1,454 | €1,936 | €3,865 | - | €5,479 | - |
| Gross operating margin9900 | €147,736 | €126,948 | €148,093 | €152,272 | €160,165 | ▲ 5.2% |
| Operating profit (loss)9901 | €7,835 | €25,357 | -€5,781 | -€15,787 | €28,967 | ▲ 283% |
| Financial charges65/66B | €1,019 | €3,333 | €4,021 | €6,178 | €4,239 | ▼ 31.4% |
| Recurring financial charges65 | €1,019 | €3,333 | €4,021 | €6,178 | €4,239 | ▼ 31.4% |
| Profit (loss) for the period before taxes9903 | €6,816 | €22,024 | -€9,802 | -€21,966 | €24,728 | ▲ 213% |
| Income taxes67/77 | €1,073 | €2,147 | €7,507 | - | €8,336 | - |
| Profit (loss) for the period9904 | €5,743 | €19,877 | -€17,309 | -€21,966 | €16,392 | ▲ 175% |
| Profit (loss) for the period to be appropriated9905 | €5,743 | €19,877 | -€17,309 | -€21,966 | €16,392 | ▲ 175% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €212,349 | €122,392 | €132,208 | €314,265 | €283,207 | ▼ 9.9% |
| Fixed assets21/28 | €42,444 | €50,288 | €40,362 | €71,462 | €52,845 | ▼ 26.1% |
| Tangible fixed assets22/27 | €18,344 | €26,188 | €16,262 | €47,362 | €28,745 | ▼ 39.3% |
| Furniture and vehicles24 | €11,341 | €21,718 | €14,324 | €47,362 | €28,745 | ▼ 39.3% |
| Leasing and similar rights25 | €7,003 | €4,470 | €1,938 | - | - | - |
| Financial fixed assets28 | €24,100 | €24,100 | €24,100 | €24,100 | €24,100 | = |
| Current assets29/58 | €169,905 | €72,104 | €91,846 | €242,803 | €230,362 | ▼ 5.1% |
| Amounts receivable within one year40/41 | €169,905 | €70,843 | €91,846 | €235,744 | €230,362 | ▼ 2.3% |
| Trade receivables40 | €162,484 | €47,966 | €5,517 | €59,742 | €96,807 | ▲ 62.0% |
| Other amounts receivable41 | €7,421 | €22,877 | €86,329 | €176,002 | €133,555 | ▼ 24.1% |
| Cash at bank and in hand54/58 | - | €1,261 | - | €7,059 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €212,349 | €122,392 | €132,208 | €314,265 | €283,207 | ▼ 9.9% |
| Equity10/15 | €22,940 | €42,817 | €25,508 | €3,543 | €19,935 | ▲ 463% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €19,940 | €39,817 | €22,508 | €543 | €16,935 | ▲ 3,022% |
| Amounts payable17/49 | €189,409 | €79,576 | €106,700 | €310,722 | €263,272 | ▼ 15.3% |
| Amounts payable after more than one year17 | €22,094 | €47,750 | €32,103 | €32,441 | €19,000 | ▼ 41.4% |
| Financial debts170/4 | €3,094 | €28,750 | €13,103 | €13,441 | - | - |
| Other amounts payable178/9 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Amounts payable within one year42/48 | €167,315 | €31,825 | €74,596 | €278,281 | €244,272 | ▼ 12.2% |
| Current portion of amounts payable after more than one year42 | €2,548 | €16,997 | €16,931 | €28,222 | €14,481 | ▼ 48.7% |
| Financial debts43 | €4,149 | - | €1,255 | - | €5,010 | - |
| Credit institutions430/8 | €4,149 | - | €1,255 | - | €5,010 | - |
| Trade debts44 | €108,991 | €1,018 | €12,110 | €164,493 | €117,717 | ▼ 28.4% |
| Suppliers440/4 | €108,991 | €1,018 | €12,110 | €164,493 | €117,717 | ▼ 28.4% |
| Taxes, remuneration and social security45 | €36,798 | €13,810 | €44,300 | €85,566 | €107,064 | ▲ 25.1% |
| Taxes450/3 | €11,782 | €5,076 | €15,573 | €36,870 | €45,996 | ▲ 24.8% |
| Remuneration and social security454/9 | €25,016 | €8,734 | €28,727 | €48,696 | €61,068 | ▲ 25.4% |
| Other amounts payable47/48 | €14,828 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,743 | €19,877 | -€17,309 | -€21,966 | €16,392 | ▲ 175% |
| + Depreciation and write-downs630 | €6,923 | €7,356 | €8,845 | €16,212 | €9,930 | ▼ 38.8% |
| Operating cash flow (approximation) | €12,665 | €27,233 | -€8,464 | -€5,754 | €26,322 | ▲ 557% |
| Investment in fixed assets (approximation) | - | -€15,200 | €1,081 | -€47,312 | €8,687 | ▲ 118% |
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
16-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 47 days late
2025
31-12
Financial
Back to profitnet €16,392
Net result €16,392 after 2 loss-making years.
07-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 68 days late
2024
31-12
Financial
Weakest financial yearnet -€21,966
Net result drops to -€21,966, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 69 days late
2023
02-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 63 days late
2022
31-12
Financial
Highest result since 2020net €19,877 ▲246%
Net result €19,877, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 2.27
Current ratio from 1.02 to 2.27; short-term debt falls from €167,315 to €31,825.
20-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 142 days late
2021
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2019
Ground area
82 m²
Building footprint
82 m²
Volume, LiDAR
1,001 m³
Parcel 21816C0138/00H002, Brussels · tallest building 15.6 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
FEDEG
since 20192.295.178.366
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21816C0138/00H002 | Brussels | 82 m² | 1 · 82 m² | 15.6 m · 5 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.
Recognitions · licences · registrations
Parcel delivery
Notified to the BIPT
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Of 12,584 companies in sector 49410 we hold annual accounts for 8,199. 4,971 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
Founded27-08-2019
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
E-invoicing
Reachable via Peppol
Peppol ID
0208:0732904482
Registered
31-10-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.