FEDELUC
ActiveSummary
FEDELUC has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €129,981 and a net result of €16,764. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 55% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▲+5
Solvency65▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 1.58 against 1.38 in 2024; short-term debt: 60.4% and cash: 40.7% of total assets), but 60.4% of the assets are financed with debt.
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Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
39.6%
Return on assets
5.1%
Age of the figures
9 mo
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
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
24 d early
2023
51 d early
2022
49 d early
2021
46 d early
2020
30 d early
2019
35 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 37 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
Equity
€129,981▲ 14.8%
2024 · €113,217
Total assets
€328,291▼ 11.8%
2024 · €372,031
Net result
€16,764▲ 296%
2024 · €4,232
Working capital
€114,322▲ 16.5%
2024 · €98,090
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20212022202320242025
Operating result€8,249-€8,331€25,061-€1,495€11,386
Net result€12,751within the sector's middle half▲ 513%-€3,218within the sector's middle half€31,092above the sector's middle half€4,232within the sector's middle half▼ 86.4%€16,764within the sector's middle half▲ 296%
Equity€81,111within the sector's middle half▲ 18.7%€77,893within the sector's middle half▼ 4.0%€108,985within the sector's middle half▲ 39.9%€113,217within the sector's middle half▲ 3.9%€129,981within the sector's middle half▲ 14.8%
Total assets€316,190within the sector's middle half▼ 1.2%€303,558within the sector's middle half▼ 4.0%€330,557above the sector's middle half▲ 8.9%€372,031above the sector's middle half▲ 12.5%€328,291within the sector's middle half▼ 11.8%
Debt€235,079▼ 6.6%€225,665▼ 4.0%€221,572▼ 1.8%€258,813▲ 16.8%€198,310▼ 23.4%
Working capital€52,598▲ 45.6%€51,499▼ 2.1%€88,837▲ 72.5%€98,090▲ 10.4%€114,322▲ 16.5%
Solvency25.7%within the sector's middle half▲ 4.3pp25.7%within the sector's middle half=33.0%within the sector's middle half▲ 7.3pp30.4%within the sector's middle half▼ 2.5pp39.6%within the sector's middle half▲ 9.2pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 returns to profit in 2025: €11,386 after a loss of €1,495 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €328,291
Fixed assets
€15,659 ▲ 3.5%
Current assets
€312,632 ▼ 12.4%
Equity and liabilities €328,291
Equity
€129,981 ▲ 14.8%
Debt
€198,310 ▼ 23.4%
Debt's share of the balance-sheet total falls from 69.6% to 60.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€16,007▲
2024 · €3,526
Cash flow
€21,385▲
2024 · €9,254
Current ratio
1.58▲
2024 · 1.38
Quick ratio
0.71▼
2024 · 0.74
Debt to equity
1.53▼
2024 · 2.29
ROE
12.9%▲
2024 · 3.7%
ROA
5.1%▲
2024 · 1.1%
Interest coverage
32.26▲
2024 · 11.24
Debt ≤ 1 year
€198,310▼
2024 · €258,813
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
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 34,672 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,889 | €5,473 | €6,246 | €5,021 | €4,621 | ▼ 8.0% |
| Other operating charges640/8 | €1,235 | €2,010 | €1,609 | €1,912 | €1,725 | ▼ 9.8% |
| Non-recurring operating charges66A | €5,140 | €0 | - | - | - | - |
| Gross operating margin9900 | €19,514 | -€848 | €32,917 | €5,438 | €17,732 | ▲ 226% |
| Operating profit (loss)9901 | €8,249 | -€8,331 | €25,061 | -€1,495 | €11,386 | ▲ 862% |
| Financial income75/76B | €4,872 | €5,439 | €6,346 | €6,041 | €5,874 | ▼ 2.8% |
| Recurring financial income75 | €4,872 | €5,439 | €6,346 | €6,041 | €5,874 | ▼ 2.8% |
| Financial charges65/66B | €370 | €326 | €315 | €314 | €496 | ▲ 58.2% |
| Recurring financial charges65 | €370 | €326 | €315 | €314 | €496 | ▲ 58.2% |
| Profit (loss) for the period before taxes9903 | €12,751 | -€3,218 | €31,092 | €4,232 | €16,764 | ▲ 296% |
| Profit (loss) for the period9904 | €12,751 | -€3,218 | €31,092 | €4,232 | €16,764 | ▲ 296% |
| Profit (loss) for the period to be appropriated9905 | €12,751 | -€3,218 | €31,092 | €4,232 | €16,764 | ▲ 296% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €316,190 | €303,558 | €330,557 | €372,031 | €328,291 | ▼ 11.8% |
| Fixed assets21/28 | €28,513 | €26,394 | €20,148 | €15,127 | €15,659 | ▲ 3.5% |
| Tangible fixed assets22/27 | €24,313 | €22,194 | €15,948 | €10,927 | €11,459 | ▲ 4.9% |
| Land and buildings22 | €21,127 | €17,568 | €14,009 | €10,507 | €7,005 | ▼ 33.3% |
| Plant, machinery and equipment23 | €170 | €0 | - | - | - | - |
| Furniture and vehicles24 | €3,016 | €4,626 | €1,939 | €420 | €4,454 | ▲ 960% |
| Financial fixed assets28 | €4,200 | €4,200 | €4,200 | €4,200 | €4,200 | = |
| Current assets29/58 | €287,678 | €277,164 | €310,409 | €356,904 | €312,632 | ▼ 12.4% |
| Stocks and contracts in progress3 | €165,500 | €168,461 | €172,263 | €166,186 | €171,689 | ▲ 3.3% |
| Stocks30/36 | €165,500 | €168,461 | €172,263 | €166,186 | €171,689 | ▲ 3.3% |
| Amounts receivable within one year40/41 | €0 | €824 | €699 | €25,925 | €6,056 | ▼ 76.6% |
| Trade receivables40 | €0 | €824 | €699 | €25,925 | €2,729 | ▼ 89.5% |
| Other amounts receivable41 | - | - | - | - | €3,327 | - |
| Cash at bank and in hand54/58 | €120,921 | €107,879 | €137,446 | €163,639 | €133,671 | ▼ 18.3% |
| Deferred charges and accrued income490/1 | €1,257 | €0 | - | €1,154 | €1,215 | ▲ 5.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €316,190 | €303,558 | €330,557 | €372,031 | €328,291 | ▼ 11.8% |
| Equity10/15 | €81,111 | €77,893 | €108,985 | €113,217 | €129,981 | ▲ 14.8% |
| Contributions10/11 | €318,600 | €318,600 | €318,600 | €318,600 | €318,600 | = |
| Reserves13 | €26,356 | €26,356 | €26,356 | €26,356 | €26,356 | = |
| Distributable reserves133 | €26,356 | €26,356 | €26,356 | €26,356 | €26,356 | = |
| Profit (loss) carried forward14 | -€263,845 | -€267,063 | -€235,971 | -€231,738 | -€214,974 | ▲ 7.2% |
| Amounts payable17/49 | €235,079 | €225,665 | €221,572 | €258,813 | €198,310 | ▼ 23.4% |
| Amounts payable within one year42/48 | €235,079 | €225,665 | €221,572 | €258,813 | €198,310 | ▼ 23.4% |
| Trade debts44 | €4,363 | €5,023 | €6,723 | €44,482 | €966 | ▼ 97.8% |
| Suppliers440/4 | €4,363 | €5,023 | €6,723 | €44,482 | €966 | ▼ 97.8% |
| Advances received on contracts in progress46 | - | - | - | - | €2,048 | - |
| Taxes, remuneration and social security45 | €7,873 | €5,938 | €6,639 | €9,219 | €0 | ▼ 100% |
| Taxes450/3 | €7,873 | €5,938 | €6,639 | €9,219 | €0 | ▼ 100% |
| Other amounts payable47/48 | €222,843 | €214,703 | €208,210 | €205,113 | €195,296 | ▼ 4.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,751 | -€3,218 | €31,092 | €4,232 | €16,764 | ▲ 296% |
| + Depreciation and write-downs630 | €4,889 | €5,473 | €6,246 | €5,021 | €4,621 | ▼ 8.0% |
| Operating cash flow (approximation) | €17,641 | €2,255 | €37,338 | €9,254 | €21,385 | ▲ 131% |
| Investment in fixed assets (approximation) | - | -€3,354 | €0 | €0 | -€5,153 | - |
| Change in cash | - | -€13,042 | €29,567 | €26,193 | -€29,968 | ▼ 214% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €31,092
Net result €31,092 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €108,985 ▲39.9%
Equity rises from €77,893 to €108,985.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €2,081
Net result €2,081 after 2 loss-making years.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity doublescurrent ratio 1.15
Current ratio from 0.50 to 1.15; short-term debt falls from €532,827 to €224,372.
20-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Pittem · 1 establishment unit since 2012
Ground area
702 m²
Building footprint
204 m²
Volume, LiDAR
1,307 m³
2 parcels, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FEDERICO MODA
since 20122.215.272.934
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011A1265/00G000 | Flanders | 617 m² | 1 · 120 m² | 8.8 m · 2 fl. |
| 37015K0863/00B002 | Flanders | 85 m² | 1 · 85 m² | 11.5 m · 3 fl. |
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.
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Of 6,495 companies in sector 47716 we hold annual accounts for 2,439. 1,869 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
Founded20-12-2012
Fiscal year end31-12
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47711Retail sale of women's outerwear
47712Retail trade
47714Retail trade
47715Retail trade
47721Retail sale of footwear
E-invoicing
Reachable via Peppol
Peppol ID
0208:0508631970
Also
9925:BE0508631970
Registered
18-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.