Losses
-€4,333 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
FEN-IX
Lifetime
2 annual accounts with figures on one time axispeak -€425 (2025)
-€425▲ €1,232
lowest -€3,111 (2024)
-€1,222▲ €1,889
peak €1,889 (2024)
€667▼ 64.7%
€1,000▲ 60.1%
Board1 name since 2023
1 directorVANDENBAK Kristof
Documentsfilings and deeds
29-06-202632 days before the deadline
2025micro format
Gross margin from -€1,657 to -€425Loss of €1,222Equity from €1,889 to €667Debts from €625 to €1,000Cash from €514 to €1,667
Key points
from the 2025 annual accountsStarting capital
€5,000 100 shares
Turnover not published (micro format)
Checked score
55
Fair
Financially stronger than 37% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.8%▲ +0.1 percentage points vs 01-2025
03-2025: 0.9%▲ +0.1 percentage points vs 02-2025
04-2025: 1.0%▲ +0.1 percentage points vs 03-2025highest value
05-2025: 1.0%● unchanged vs 04-2025highest value
06-2025: 0.9%▼ -0.1 percentage points vs 05-2025
07-2025: 0.2%▼ -0.7 percentage points vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.1 percentage points vs 07-2026
09-2026: 0.4%▲ +0.1 percentage points vs 08-2026
10-2026: 0.2%▼ -0.2 percentage points vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Loss of €1,222, the second in a row (financial year 2025)
lowers risk
Sector: Real estate activities (NACE 68)
Liquidity: current ratio 1.67, cash €1,667
Size: total assets €1,667
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 68, micro). It does better than 57% of them on solvency, 79% on liquidity, 4% on profitability and 9% 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, 3,223 companies had the same profile as FEN-IX has now. Each dot stands for 9 companies, two years later.
87.8%
were still trading
8.7%
stopped another way
3.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FEN-IX itself is lower: 0.2% within 12 months. It rests on far more data about FEN-IX than the profile alone.
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.
| 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 3,223 companies, not a prediction for FEN-IX. 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
No publishable credit limit, so credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
The balance sheet total is too small for a liquidity verdict.
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
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 29-06-2026, 32 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
32 days early
2024
50 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 41 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 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.
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Incorporation
Founding capital of €5,000, 100 shares · Founder: VANDENBAK Kristof · Appointment: VANDENBAK Kristof (director) · published on 20-09-2023 · Gazette deed
First establishment
Kleine Donkerstraat 1, Geraardsbergen
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FEN-IX Geraardsbergen | €1,667 | -€425 | 40.0% | - |
| UnwindU Berlare | €1,287 | -€53,367 | -3261.3% | - |
| GOLSBY Fléron | €2,380 | -€2,035 | 0.1% | - |
| MBM Immo Invest Malmedy | €1,048 | -€1,053 | -1084.4% | - |
| Herou Estate Facilities Trois-Ponts | €983 | -€1,607 | -192.3% | - |
| BRICKLANE Forest | €1,702 | -€1,714 | -19.6% | - |
| Body&Mind Development Molenbeek-Saint-Jean | €786 | €175 | -19.4% | - |
These companies have the same main activity as FEN-IX: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €786 and €2,380, founded between 2022 and 2025.
Official details
Source: KBO- Status
- Active since 18-09-2023Normal situation
- Activity
- Buying and selling of own real estateNACE 68110and 1 other
- Establishment unit
- 2.350.515.0849500 Geraardsbergen, since 18-09-2023
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Annual accounts 2025
- €1,667▼ 33.7%
- Filing
- Filed on 29-06-2026, 32 days before the end of the filing period
Insights on FEN-IX
The annual accounts of FEN-IX for financial year 2025 show a net loss of 73% of total assets and of 65% of the equity at the start of that year. The 2025 annual accounts show equity of €667 and a net result of -€1,222.
Its solvency ranks better than 59% of 17,194 sector peers (NACE 68, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
The computed 12-month bankruptcy probability is 0.2% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FEN-IX
- What is the company number of FEN-IX?
- The company number of FEN-IX is 0805.933.210. The VAT number is the same number with BE in front: BE 0805.933.210.
- Where is FEN-IX based?
- The registered office is at Kleine Donkerstraat 1, 9500 Geraardsbergen.Company details
- What does FEN-IX do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of FEN-IX?
- FEN-IX is a private limited company (BV).
- When was FEN-IX founded?
- FEN-IX was founded on 18-09-2023.
- Is FEN-IX still active?
- Yes, FEN-IX is an active enterprise in the KBO register.
- What is the turnover of FEN-IX?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is FEN-IX profitable?
- In financial year 2025, FEN-IX made a loss of €1,222.
- Where can I find the annual accounts of FEN-IX?
- FEN-IX filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FEN-IX due?
- FEN-IX must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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