FENO
ActiveSummary
FENO has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €231,211 and a net result of €137,698. Equity is growing by ~33.3% per year across the filed fiscal years. Its solvency ranks better than 41% of 2943 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability93▲+6
Solvency58▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 5.33 against 1.09 in 2023; short-term debt: 14.2% and cash: 7.6% of total assets), but 67% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-07-2025, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
8 d early
2023
2 d early
2022
31 d early
2021
62 d early
2020
19 d early
2019
3 d early
← 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 21 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€231,211▲ 147%
2023 · €93,513
Total assets
€700,513▲ 178%
2023 · €251,572
Net result
€137,698▲ 277%
2023 · €36,528
Working capital
€430,215▲ 6,228%
2023 · €6,798
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, 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
Line20202021202220232024
Operating result€23,457▲ 22.6%€30,519▲ 30.1%€39,755▲ 30.3%€60,109▲ 51.2%€213,928▲ 256%
Net result€14,646within the sector's middle half▲ 26.8%€16,977below the sector's middle half▲ 15.9%€21,675below the sector's middle half▲ 27.7%€36,528within the sector's middle half▲ 68.5%€137,698within the sector's middle half▲ 277%
Equity€36,933within the sector's middle half▲ 65.7%€53,910below the sector's middle half▲ 46.0%€75,585below the sector's middle half▲ 40.2%€93,513below the sector's middle half▲ 23.7%€231,211within the sector's middle half▲ 147%
Total assets€137,061within the sector's middle half▼ 6.5%€275,654below the sector's middle half▲ 101%€298,820below the sector's middle half▲ 8.4%€251,572below the sector's middle half▼ 15.8%€700,513within the sector's middle half▲ 178%
Debt€100,128▼ 19.5%€221,744▲ 121%€223,235▲ 0.7%€158,059▼ 29.2%€469,302▲ 197%
Working capital-€17,703below the sector's middle half▲ 44.0%-€19,430below the sector's middle half▼ 9.8%-€11,411below the sector's middle half▲ 41.3%€6,798below the sector's middle half€430,215within the sector's middle half▲ 6,228%
Solvency26.9%below the sector's middle half▲ 11.7pp19.6%within the sector's middle half▼ 7.4pp25.3%within the sector's middle half▲ 5.7pp37.2%within the sector's middle half▲ 11.9pp33.0%within the sector's middle half▼ 4.2pp
Current ratio0.76below the sector's middle half▲ 0.140.76below the sector's middle half=0.90below the sector's middle half▲ 0.141.09within the sector's middle half▲ 0.195.33above the sector's middle half▲ 4.24
Return on assets (ROA)10.7%within the sector's middle half▲ 2.8pp6.2%within the sector's middle half▼ 4.5pp7.3%within the sector's middle half▲ 1.1pp14.5%within the sector's middle half▲ 7.3pp19.7%within the sector's middle half▲ 5.1pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 256% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €700,513
Fixed assets
€171,052 ▼ 0.8%
Current assets
€529,461 ▲ 568%
Equity and liabilities €700,513
Equity
€231,211 ▲ 147%
Debt
€469,302 ▲ 197%
Debt's share of the balance-sheet total rises from 62.8% to 67.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€217,551▲
2023 · €82,707
Cash flow
€141,321▲
2023 · €59,126
Debt to equity
2.03▲
2023 · 1.69
ROE
59.6%▲
2023 · 39.1%
Interest coverage
21.62▲
2023 · 20.15
Debt ≤ 1 year
€99,246▲
2023 · €72,414
Debt > 1 year
€369,941▲
2023 · €85,529
Income taxes
€66,218▲
2023 · €19,555
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,810 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 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% | 1.7% |
| 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 75% 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 17,810 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €12,085 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €1 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,953 | €22,517 | €23,221 | €22,599 | €3,623 | ▼ 84.0% |
| Other operating charges640/8 | - | €616 | €718 | €970 | €992 | ▲ 2.2% |
| Gross operating margin9900 | €43,910 | €53,653 | €63,696 | €83,678 | €218,543 | ▲ 161% |
| Operating profit (loss)9901 | €23,457 | €30,519 | €39,755 | €60,109 | €213,928 | ▲ 256% |
| Financial income75/76B | - | - | - | €79 | €52 | ▼ 34.1% |
| Recurring financial income75 | €61 | - | - | €79 | €52 | ▼ 34.1% |
| Financial charges65/66B | - | €4,244 | €6,548 | €4,105 | €10,065 | ▲ 145% |
| Recurring financial charges65 | €2,463 | €4,244 | €6,548 | €4,105 | €10,065 | ▲ 145% |
| Profit (loss) for the period before taxes9903 | €21,054 | €26,275 | €33,207 | €56,083 | €203,916 | ▲ 264% |
| Income taxes67/77 | €6,408 | €9,298 | €11,532 | €19,555 | €66,218 | ▲ 239% |
| Profit (loss) for the period9904 | €14,646 | €16,977 | €21,675 | €36,528 | €137,698 | ▲ 277% |
| Profit (loss) for the period to be appropriated9905 | €14,646 | €16,977 | €21,675 | €36,528 | €137,698 | ▲ 277% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €137,061 | €275,654 | €298,820 | €251,572 | €700,513 | ▲ 178% |
| Fixed assets21/28 | €81,033 | €213,270 | €193,863 | €172,360 | €171,052 | ▼ 0.8% |
| Intangible fixed assets21 | €74,286 | €55,714 | €37,143 | €18,571 | - | - |
| Tangible fixed assets22/27 | €6,747 | €7,556 | €6,720 | €3,788 | €11,052 | ▲ 192% |
| Plant, machinery and equipment23 | - | €497 | €1,172 | €1,634 | €3,368 | ▲ 106% |
| Furniture and vehicles24 | - | €7,059 | €5,548 | €2,154 | €7,684 | ▲ 257% |
| Financial fixed assets28 | - | €150,000 | €150,000 | €150,000 | €160,000 | ▲ 6.7% |
| Current assets29/58 | €56,028 | €62,384 | €104,957 | €79,212 | €529,461 | ▲ 568% |
| Amounts receivable within one year40/41 | - | €17,899 | €34,138 | €48,337 | €126,476 | ▲ 162% |
| Trade receivables40 | - | €17,899 | €34,138 | €48,337 | €3,801 | ▼ 92.1% |
| Other amounts receivable41 | - | - | - | - | €122,676 | - |
| Cash at bank and in hand54/58 | €53,370 | €41,804 | €69,632 | €29,094 | €53,099 | ▲ 82.5% |
| Deferred charges and accrued income490/1 | - | €2,681 | €1,187 | €1,781 | €349,886 | ▲ 19,542% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €137,061 | €275,654 | €298,820 | €251,572 | €700,513 | ▲ 178% |
| Equity10/15 | €36,933 | €53,910 | €75,585 | €93,513 | €231,211 | ▲ 147% |
| Contributions10/11 | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €18,333 | €35,310 | €56,985 | €93,513 | €231,211 | ▲ 147% |
| Distributable reserves133 | - | €35,310 | €56,985 | €93,513 | €231,211 | ▲ 147% |
| Profit (loss) carried forward14 | -€7,863 | - | - | - | - | - |
| Amounts payable17/49 | €100,128 | €221,744 | €223,235 | €158,059 | €469,302 | ▲ 197% |
| Amounts payable after more than one year17 | €26,396 | €139,734 | €106,709 | €85,529 | €369,941 | ▲ 333% |
| Financial debts170/4 | - | €139,734 | €106,709 | €85,529 | €369,941 | ▲ 333% |
| Amounts payable within one year42/48 | €73,731 | €81,814 | €116,368 | €72,414 | €99,246 | ▲ 37.1% |
| Current portion of amounts payable after more than one year42 | - | €36,662 | €35,957 | €22,933 | €40,389 | ▲ 76.1% |
| Financial debts43 | - | - | €5,863 | €5,896 | €12,016 | ▲ 104% |
| Credit institutions430/8 | - | - | €5,863 | €5,896 | €12,016 | ▲ 104% |
| Trade debts44 | €160 | €2,718 | €28,850 | €3,326 | €6,620 | ▲ 99.0% |
| Suppliers440/4 | - | €2,718 | €28,850 | €3,326 | €6,620 | ▲ 99.0% |
| Advances received on contracts in progress46 | - | - | €19,235 | - | - | - |
| Taxes, remuneration and social security45 | - | €22,219 | €23,525 | €30,660 | €37,865 | ▲ 23.5% |
| Taxes450/3 | - | €22,219 | €23,525 | €30,660 | €37,791 | ▲ 23.3% |
| Remuneration and social security454/9 | - | - | - | - | €74 | - |
| Other amounts payable47/48 | - | €20,214 | €2,938 | €9,599 | €2,355 | ▼ 75.5% |
| Accrued charges and deferred income492/3 | - | €196 | €158 | €116 | €116 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,646 | €16,977 | €21,675 | €36,528 | €137,698 | ▲ 277% |
| + Depreciation and write-downs630 | €19,953 | €22,517 | €23,221 | €22,599 | €3,623 | ▼ 84.0% |
| Operating cash flow (approximation) | €34,599 | €39,495 | €44,897 | €59,126 | €141,321 | ▲ 139% |
| Investment in fixed assets (approximation) | - | -€154,755 | -€3,815 | -€1,095 | -€2,315 | ▼ 111% |
| Change in cash | - | -€11,566 | €27,828 | -€40,538 | €24,005 | ▲ 159% |
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
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €137,698 ▲277%
Operating result €213,928, net result €137,698, both a record.
31-12
Financial
Liquidity times 5current ratio 5.33
Current ratio from 1.09 to 5.33.
31-12
Financial
Equity above €200,000Eq €231,211 ▲147%
7 profitable years in a row build equity to €231,211.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Schilde · 2 establishment units since 2009
Ground area
3,320 m²
Building footprint
689 m²
Volume, LiDAR
9,205 m³
2 parcels, Flanders · tallest building 26.5 m, ±7 floors. Linked by address, not a title deed.
2 establishment units
FENO
since 20092.281.499.683
Zwaluwenlaan 12, 8300 Knokke-Heist
since 20222.346.200.762
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11041B0150/00C000 | Flanders | 2,788 m² | 1 · 208 m² | 23.0 m · 2 fl. |
| 31013A0262/00A000 | Flanders | 532 m² | 1 · 481 m² | 26.5 m · 7 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
- Sourceown accounts 202410%
-
9.09%
According to the 2024 annual accounts of FENO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 22,076 companies in sector 69101 we hold annual accounts for 9,061. 7,092 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
Founded12-08-2009
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
Contact
E-mail
f.wuyts@icloud.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0817739791
Also
9925:BE0817739791
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.