Equity
€5.5m ▼ 35.2%
FENGARI paid out €3.2m in dividends. That is 1,723% of the 2025 profit.
FENGARI
Lifetime
20 annual accounts with figures on one time axis, 28 filings since 1998peak €333,188 (2022)
€16,071▼ 78.1%
lowest -€24,891 (2014)
€184,703▼ 77.6%
peak €8.5m (2024)
€5.5m▼ 35.2%
€1.3m▲ 253%
Board1 name since 2020
1 directorFrank Maene
Documentsfilings and deeds
29-07-20262 days before the deadline
2025abbreviated format
Gross margin from €73,507 to €16,071Result from €823,054 to €184,703Dividend €3.2mEquity from €8.5m to €5.5mDebts from €356,891 to €1.3mInvestments €1.3m
Key points
from the 2025 annual accountsResult
€184,703 ▼ 77.6%
The result fell in 2025 from €823,054 to €184,703.
Turnover
≈ €63,000 estimated
The accounts state no turnover.
Debts
€1.3m ▲ 253%
Debts rose by €903,495 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Liquidity
2.70 was 19.42 in 2024
Short-term debts rose from €349,347 to €1.3m.
Position in the sector
€5.5m
More equity than 93% of companies in head offices and management consultancy. Sector median €323,494 · 10,865 companies.
Checked score
94
Excellent
Financially stronger than 49% of small companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 4,522 companies (NACE 70, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025highest value
08-2025: < 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
1 of the last 3 accounts late
lowers risk
Size: total assets €6.8m
Liquidity: current ratio 2.70, cash €950,577
Equity €5.5m (81.4% 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 70, small). It does better than 85% of them on solvency, 83% on liquidity, 21% on profitability and 6% on growth.
The bankruptcy probability was computed on 08-11-2026 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, 1,887 companies had the same profile as FENGARI has now. Each dot stands for 5 companies, two years later.
97.9%
were still trading
2.0%
stopped another way
0.1%
went bankrupt
That fits the bankruptcy probability of FENGARI itself: < 0.1% 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.
| 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 1,887 companies, not a prediction for FENGARI. 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 €500,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.7 (19.42 in 2024), above the usual 1.5. Short-term debt is 18.5% and cash 14% of total assets. 18.6% of the assets are financed with debt and provisions.
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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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 days early
2024
28 days early
2023
85 days late
2022
20 days early
2021
23 days early
2020
31 days early
2019
15 days early
← 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 5 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% 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 11 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Frank Maeneannual accounts 2025
Shares in 4 companies, including VOLTA MANAGEMENT II and VOLTA MANAGEMENT
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0457552859
Resignation: Frank Maene (manager)
Reappointment: Frank Maene (director) · “Investeren in en beheren van fondsen en bedrijven; Alle werkzaamheden met betrekking tot het…” (deed in Dutch) · General meeting of 10-11-2020 · Gazette deed
First establishment
Marreweg 21, Ranst
Incorporation
published on 17-04-1996 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FENGARI Ranst | €6.8m | €16,071 | 81.4% | - |
| Market Investments Dierckx Oud-Turnhout | €7.1m | €14,720 | 41.3% | - |
| THEO WUBBEN Essen | €8.7m | €18,982 | 95.3% | - |
| BIBIO Antwerp | €5.2m | €18,993 | 19.9% | - |
| Wiljam Boechout | €6.1m | €11,252 | 99.4% | - |
| IMMO AGRO Stabroek | €6.0m | €24,996 | 16.9% | - |
| RENARDO Antwerp | €8.7m | €11,453 | 87.6% | 1 |
These companies have the same main activity as FENGARI: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €5.2m and €8.7m, founded between 1989 and 1999.
Official details
Source: KBO- Status
- Active since 15-03-1996Normal situation
- Activity
- Business and other management consultancyNACE 70200and 1 other
- Establishment unit
- 2.084.224.4492520 Ranst, since 18-11-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 21-11-2025
Annual accounts 2025
- €6.8m▼ 23.6%
- Filing
- Filed on 29-07-2026, 2 days before the end of the filing period
Companies linked to FENGARI
Subsidiaries and holdings
Insights on FENGARI
FENGARI files the abbreviated format. That format states no turnover. The gross margin fell from €64,901 in 2006 to €16,071 in 2025.
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 FENGARI
- What is the company number of FENGARI?
- The company number of FENGARI is 0457.552.859. The VAT number is the same number with BE in front: BE 0457.552.859.
- Where is FENGARI based?
- The registered office is at Marreweg 21, 2520 Ranst.Company details
- What does FENGARI do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of FENGARI?
- FENGARI is a private limited company (BV).
- When was FENGARI founded?
- FENGARI was founded on 15-03-1996.
- Is FENGARI still active?
- Yes, FENGARI is an active enterprise in the KBO register.
- What is the turnover of FENGARI?
- The turnover in financial year 2025 is ≈ €63,000. This figure is estimated from the gross margin of €16,071 and 140 comparable companies (NACE 70200). It probably lies between €28,000 and €160,000. It is a rough estimate.Financials
- Is FENGARI profitable?
- In financial year 2025, FENGARI made a profit of €184,703.
- Where can I find the annual accounts of FENGARI?
- FENGARI filed 29 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FENGARI due?
- FENGARI must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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