FEPSOD · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of FEPSOD is 2.6% (moderate). The 2024 annual accounts show equity of €38k and a net result of €35k. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

1 signal · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 19 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-05-2025, 62 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

How we compute the deadline

The year end is derived from 6 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	30-05-2025	62 d early	2025-00121622
31-12-2023	31-07-2024	14-06-2024	47 d early	2024-00134636
31-12-2022	31-07-2023	23-06-2023	38 d early	2023-00182183
31-12-2021	31-07-2022	22-06-2022	39 d early	2022-20086868
31-12-2020	31-07-2021	26-06-2021	35 d early	2021-29400358
31-12-2019	31-07-2020	06-10-2020	67 d late	2020-58800539

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2018, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

2.6% Moderate

0%0,5%1,5%4%10%≥25%

No NACE activity registered +Young company +Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€113k+27.6%

EBIT margin43.9%+33.5pp

Net result€35k+298.2%

Working capital€28k

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 30-05-2025 with the NBB · fiscal year 2024 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Net result: growth of ~60.6%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Revenue

€113k

+27.6% 19-24

EBITDA

€55k

+341.6% 19-24

Net profit

€35k

+298.2% 19-24

Cash flow

€41k

+236.4% 19-24

Total assets

€51k

+153.7% 19-24

Equity

€38k

+1435.3% 19-24

Working capital

€28k

- 19-24

Employees (FTE)

0

-81.3% 19-24

Show 13 other metrics

Staff costs

€8k

-85.5% 19-24

Income taxes

€14k

+4604.5% 19-24

Debt

€13k

-25.8% 19-24

Debt ≤ 1y

€13k

-25.8% 19-24

Current ratio

3.12

+295.5% 19-24

Quick ratio

3.12

+295.5% 19-24

Solvency

74.3%

+505.1% 19-24

Debt / equity

0.35

-95.2% 19-24

ROE

93.5%

-74.1% 19-24

ROA

69.5%

+56.9% 19-24

Net margin

31.3%

+211.9% 19-24

EBITDA margin

48.7%

+246.0% 19-24

Interest coverage

917.17

+430.0% 19-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	€113k
EBITDA	€55k
Net profit	€35k
Cash flow	€41k
Staff costs	€8k
Income taxes	€14k
Dividends	-
Total assets	€51k
Equity	€38k
Debt	€13k
of which ≤ 1y	€13k
of which > 1y	-
Working capital	€28k
Employees (FTE)	0.3

Ratios (computed)

	2024
Current ratio	3.12
Quick ratio	3.12
Working capital ratio	54.5%
Solvency	74.3%
Debt / equity	0.35
Long-term debt ratio	-
Interest coverage	917.17
Gross margin	56.3%
Net margin	31.3%
ROA	69.5%
ROE	93.5%
EBITDA margin	48.7%
Days sales outstanding	3d
Days payable outstanding	55d
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €10k · 19.9% Current assets €41k · 80.1%

Equity & liabilities

Equity €38k · 74.3% Debt €13k · 25.7%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€51k
Fixed assets	21/28	€10k
Tangible fixed assets	22/27	€10k
Current assets	29/58	€41k
Amounts receivable within one year	40/41	€833
Cash & bank	54/58	€39k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€51k
Equity	10/15	€38k
Contributions / capital	10/11	€6k
Reserves	13	€2k
Accumulated profits (losses)	14	€30k
Amounts payable	17/49	€13k
Amounts payable within one year	42/48	€13k
Trade debts payable within one year	44	€8k
Income statement
Turnover	70	€113k
Gross operating margin	9900	€64k
Operating result	9901	€50k
Financial income	75	€25
Financial charges	65	€60
Result before taxes	9903	€50k
Income taxes	67/77	€14k
Net result for the period	9904	€35k
Result to be appropriated	9905	€35k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

100 / 100 Excellent

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Directors

Directors & mandates

4 directors

6 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.

Current directors & mandates

DAMAY Julian
Director
State Gazette act 24146750 (11-10-2024)

Current
07-04-2022 → present
2 events
- 01-10-2024 Appointed· Director
- 07-04-2022 Appointed· Director
Frédéric DRUET
Director
State Gazette act 22044888 (07-04-2022)

Current
07-04-2022 → present

Former directors (2)

ETIENNE Pierre
Director
State Gazette act 24071650 (08-05-2024)

Former
01-04-2024 → 31-12-2024
2 events
- 31-12-2024 Resigned· Director
- 01-04-2024 Appointed· Director
BLARIAU Valérie
Director
State Gazette act 24071650 (08-05-2024)

Former
08-05-2024 → 01-10-2024
2 events
- 01-10-2024 Resigned· Director
- 08-05-2024 Appointed· Director

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	-
Legal form	Private limited company(610)
Incorporation	18-12-2018
Status	Active
Postal code	6180

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

AJD FINANCES

Rue de la Glacerie(CO) 127, 6180 CourcellesHandelsbemiddeling in de niet-gespecialiseerde groothandel

since 20222.333.531.374

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area613 m²

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
52322B0084/00G063	Wallonia	613 m²	-	-

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

5 acts

Capital history · 1

07-04-2022

Capital change

Address history · 2

11-10-2024

Registered-office move

27-07-2023

Registered-office move

All acts · 5 updated 1 year ago

2025

15-01-2025 ETIENNE Pierre resigns as director Director changes

ETIENNE Pierre, Bestuurder

Original publication ↗

2024

11-10-2024 Registered office moved from Beaumont to Courcelles Registered-office change

Rue de Tinmont, 2-6500 Beaumont → Rue de la glacerie 127 - Courcelles

Original publication ↗

08-05-2024 2 directors appointed Director changes

ETIENNE Pierre, Bestuurder
BLARIAU Valérie, Bestuurder

Original publication ↗

2023

27-07-2023 Registered office moved from Anhée to Beaumont Registered-office change·Clarence BALIEUX

Rue Stampia, Bioul 5 : 5537 Anhée → 6500 Beaumont, section de Leval-Chaudeville, rue de Tinmont, 2

Notary: Clarence BALIEUX · Dampremy

Original publication ↗

2022

07-04-2022 Transaction in capital or shares Capital & shares

Original publication ↗

Analysis

Financial profile

5 of 5 axes measured

95 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 100

Solvency 100

Growth 73

Stability 100

Credit advice

verdict per customer and amount

Company registry

Company registry (CBE)

Crossroads Bank

Names & trade names

Legal nameFR

FEPSOD

Registered office

Rue de la Glacerie(CO) 127

6180 Courcelles, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.