FERNANDEL
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 25-05-2026 PDF all 11 filings
Turnover
€54,797▼ 40.4%
2023 · €91,977
EBIT margin
27.3%▲ 30.9pp
2023 · -3.6%
Net result
€14,958
2023 · -€6,006
Working capital
€30,146▲ 260%
2023 · €8,382
Multi-year overview
2018 to 2024, 7 financial yearsTurnover
€54,797
▼ 40.4%
2024
20182024
Operating result
€14,958
2024
20182024
Net result
€14,958
2024
20182024
EBIT margin
27.3%
▲ 30.9pp
2024
20182024
Equity
€47,017
▲ 46.7%
2024
20182024
Total assets
€53,974
▼ 39.6%
2024
20182024
Debt
€6,957
▼ 87.9%
2024
20182024
Working capital
€30,146
▲ 260%
2024
20182024
Staff (FTE)
no figure
2024
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€91,977€54,797▼ 40.4%
Operating result€27,620--€182-€7,554▼ 4,058%€21,166€2,683▼ 87.3%-€3,315€14,958
Net result€24,646--€2,919-€8,946▼ 206%€20,006-€355-€6,006▼ 1,593%€14,958
EBIT margin-3.6%27.3%▲ 30.9pp
Equity€30,279-€27,360▼ 9.6%€18,414▼ 32.7%€38,420▲ 109%€38,065▼ 0.9%€32,059▼ 15.8%€47,017▲ 46.7%
Total assets€61,216-€73,682▲ 20.4%€87,914▲ 19.3%€63,982▼ 27.2%€96,451▲ 50.7%€89,372▼ 7.3%€53,974▼ 39.6%
Debt€30,937-€46,322▲ 49.7%€69,500▲ 50.0%€25,562▼ 63.2%€58,386▲ 128%€57,313▼ 1.8%€6,957▼ 87.9%
Working capital-€7,299--€1,589▲ 78.2%€285€25,221▲ 88×€5,797▼ 77.0%€8,382▲ 44.6%€30,146▲ 260%
Staff (FTE)3.7-3.1▼ 16.2%1.8▼ 41.9%3.3▲ 83.3%3.3=
The operating result for 2024 is a profit of €14,958, after a loss of €3,315 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €53,974
Fixed assets
€16,871 ▼ 28.7%
Current assets
€37,103 ▼ 43.5%
Equity and liabilities €53,974
Equity
€47,017 ▲ 46.7%
Debt
€6,957 ▼ 87.9%
Debt's share of the balance-sheet total falls from 64.1% to 12.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€20,958▲
2023 · €5,753
Cash flow
€20,958▲
2023 · €3,062
Current ratio
5.33▲
2023 · 1.15
Debt to equity
0.15▼
2023 · 1.79
ROE
31.8%▲
2023 · -18.7%
ROA
27.7%▲
2023 · -6.7%
Debt ≤ 1 year
€6,957▼
2023 · €57,313
Customer credit
25 days▲
2023 · 8 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 3 | 3 |
| part-time | 3 | 3 |
| in full-time equivalents | 1.2 | 1.2 |
| Average over the year, in full-time equivalents | 1.2 | 1.2 |
| On a permanent contract | 3 | 3 |
| Joined | 5 | - |
| Left | 5 | - |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Intangible fixed assets | - | €30,000 | - | - |
| Financial fixed assets | - | - | €477 | - |
| Depreciation and write-downs of the year | €4,930 | €10,930 | €9,068 | €6,000 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €91,977 | €54,797 | ▼ 40.4% |
| Non-recurring operating income76A | - | - | - | - | - | €1,948 | €1,826 | ▼ 6.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €88,127 | €35,665 | ▼ 59.5% |
| Remuneration, social security and pensions62 | - | - | - | €10,381 | €35,585 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,057 | €8,629 | €8,120 | €4,930 | €10,930 | €9,068 | €6,000 | ▼ 33.8% |
| Other operating charges640/8 | - | - | - | €790 | €3,915 | €45 | - | - |
| Gross operating margin9900 | €149,189 | €97,081 | €27,529 | €37,267 | €53,113 | €5,798 | €20,958 | ▲ 261% |
| Operating profit (loss)9901 | €27,620 | -€182 | -€7,554 | €21,166 | €2,683 | -€3,315 | €14,958 | - |
| Financial income75/76B | - | - | - | - | €3,064 | €21 | - | - |
| Recurring financial income75 | €4 | €8 | - | - | €3,064 | €21 | - | - |
| Financial charges65/66B | - | - | - | €1,161 | €6,101 | €2,712 | - | - |
| Recurring financial charges65 | €2,978 | €2,745 | €1,392 | €1,161 | €6,101 | €2,712 | - | - |
| Profit (loss) for the period before taxes9903 | €24,646 | -€2,919 | -€8,946 | €20,006 | -€355 | -€6,006 | €14,958 | - |
| Profit (loss) for the period9904 | €24,646 | -€2,919 | -€8,946 | €20,006 | -€355 | -€6,006 | €14,958 | - |
| Profit (loss) for the period to be appropriated9905 | €24,646 | -€2,919 | -€8,946 | €20,006 | -€355 | -€6,006 | €14,958 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €61,216 | €73,682 | €87,914 | €63,982 | €96,451 | €89,372 | €53,974 | ▼ 39.6% |
| Fixed assets21/28 | €37,578 | €28,949 | €18,129 | €13,199 | €32,268 | €23,677 | €16,871 | ▼ 28.7% |
| Intangible fixed assets21 | - | - | - | - | €24,000 | €18,000 | €12,000 | ▼ 33.3% |
| Tangible fixed assets22/27 | €29,678 | €21,049 | €12,929 | €7,999 | €3,068 | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €328 | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €7,671 | €3,068 | - | - | - |
| Financial fixed assets28 | €7,900 | €7,900 | €5,200 | €5,200 | €5,200 | €5,677 | €4,871 | ▼ 14.2% |
| Current assets29/58 | €23,638 | €44,733 | €69,785 | €50,783 | €64,182 | €65,695 | €37,103 | ▼ 43.5% |
| Stocks and contracts in progress3 | €6,360 | €11,212 | €6,212 | €5,187 | €4,601 | €4,601 | - | - |
| Stocks30/36 | - | - | - | €5,187 | €4,601 | €4,601 | - | - |
| Amounts receivable within one year40/41 | €9,545 | €6,356 | €41,299 | €18,059 | €40,959 | €42,645 | €31,409 | ▼ 26.3% |
| Trade receivables40 | - | - | - | €9,750 | - | €1,949 | €3,775 | ▲ 93.7% |
| Other amounts receivable41 | - | - | - | €8,309 | €40,959 | €40,696 | €27,634 | ▼ 32.1% |
| Cash at bank and in hand54/58 | €5,803 | €27,165 | €22,273 | €27,537 | €18,622 | €18,449 | €5,694 | ▼ 69.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €61,216 | €73,682 | €87,914 | €63,982 | €96,451 | €89,372 | €53,974 | ▼ 39.6% |
| Equity10/15 | €30,279 | €27,360 | €18,414 | €38,420 | €38,065 | €32,059 | €47,017 | ▲ 46.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | - | - | - | - |
| Share premium1100/10 | - | - | - | €18,600 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €9,819 | €6,900 | -€2,046 | €17,960 | €17,605 | €11,599 | €26,557 | ▲ 129% |
| Amounts payable17/49 | €30,937 | €46,322 | €69,500 | €25,562 | €58,386 | €57,313 | €6,957 | ▼ 87.9% |
| Amounts payable within one year42/48 | €30,937 | €46,322 | €69,500 | €25,562 | €58,386 | €57,313 | €6,957 | ▼ 87.9% |
| Financial debts43 | - | - | - | - | €2,823 | €2,813 | - | - |
| Credit institutions430/8 | - | - | - | - | €2,823 | €2,813 | - | - |
| Trade debts44 | €11,695 | €20,254 | €47,486 | €14,348 | €39,184 | €43,529 | - | - |
| Suppliers440/4 | - | - | - | €12,078 | €27,832 | €32,177 | - | - |
| Bills of exchange payable441 | - | - | - | €2,270 | €11,352 | €11,352 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €11,214 | €16,379 | €10,971 | €6,957 | ▼ 36.6% |
| Taxes450/3 | - | - | - | €5,343 | €11,739 | €8,415 | €6,957 | ▼ 17.3% |
| Remuneration and social security454/9 | - | - | - | €5,871 | €4,639 | €2,556 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,646 | -€2,919 | -€8,946 | €20,006 | -€355 | -€6,006 | €14,958 | - |
| + Depreciation and write-downs630 | €14,057 | €8,629 | €8,120 | €4,930 | €10,930 | €9,068 | €6,000 | ▼ 33.8% |
| Operating cash flow (approximation) | €38,703 | €5,710 | -€826 | €24,936 | €10,576 | €3,062 | €20,958 | ▲ 584% |
| Investment in fixed assets (approximation) | - | €0 | €2,700 | €0 | -€30,000 | -€477 | €806 | - |
| Change in cash | - | €21,361 | -€4,892 | €5,264 | -€8,915 | -€173 | -€12,755 | ▼ 7,282% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as FERNANDEL has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
The bankruptcy probability of FERNANDEL itself is higher: 17.5% within 12 months. It rests on far more data about FERNANDEL than the profile alone.
Test of the method
The method was tested on the 497,446 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 34,693 companies, not a prediction for FERNANDEL. 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.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 25-05-2026 | 2026-00119415 | |
| 31-12-2023 | micro format | 06-10-2024 | 2024-00498254 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00264996 | |
| 31-12-2021 | micro format | 04-08-2022 | 2022-20268613 | |
| 31-12-2020 | micro format | 15-11-2021 | 2021-77200481 | |
| 31-12-2019 | micro format | 14-09-2020 | 2020-53100385 | |
| 31-12-2018 | micro format | 12-07-2019 | 2019-32500601 | |
| 31-12-2017 | micro format | 06-07-2018 | 2018-29700126 | |
| 31-12-2016 | micro format | 29-06-2017 | 2017-23600479 | |
| 31-12-2015 | full format | 05-08-2016 | 2016-40400021 |