Ferromax
ActiveSummary
The computed 12-month bankruptcy probability of Ferromax is 2.7% (moderate). The 2024 annual accounts show equity of €33,943 and a net result of -€10,857. Equity is growing by ~51.8% per year across the filed fiscal years. Its solvency ranks better than 21% of 2439 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability12▼-80
Solvency41▼-43
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.89 against 1.8 in 2023; short-term debt: 24.5% and cash: 6.4% of total assets), and 83.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
16.5%
Return on assets
-5.3%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 2439 sector peers (2024).
NBB · sector comparisonPosition among 2439 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-10-2025, 76 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
76 d late
2023
27 d early
2022
294 d late
2021
659 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 251 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€33,943▲ 36.9%
2023 · €24,801
Total assets
€206,211▲ 394%
2023 · €41,738
Net result
-€10,857
2023 · €8,862
Working capital
-€5,399
2023 · €13,603
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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
Line2021202220232024
Operating result€8,029-€8,292▲ 3.3%€15,310▲ 84.6%-€6,954
Net result€6,293within the sector's middle half-€5,646within the sector's middle half▼ 10.3%€8,862within the sector's middle half▲ 57.0%-€10,857below the sector's middle half
Equity€10,293below the sector's middle half-€15,939below the sector's middle half▲ 54.8%€24,801within the sector's middle half▲ 55.6%€33,943within the sector's middle half▲ 36.9%
Total assets€13,171below the sector's middle half-€68,292below the sector's middle half▲ 419%€41,738below the sector's middle half▼ 38.9%€206,211within the sector's middle half▲ 394%
Debt€2,878-€52,353▲ 1,719%€16,938▼ 67.6%€172,268▲ 917%
Working capital€5,335within the sector's middle half-€10,200within the sector's middle half▲ 91.2%€13,603within the sector's middle half▲ 33.4%-€5,399below the sector's middle half
Solvency78.2%above the sector's middle half-23.3%within the sector's middle half▼ 54.8pp59.4%within the sector's middle half▲ 36.1pp16.5%below the sector's middle half▼ 43.0pp
Current ratio2.85within the sector's middle half-1.19within the sector's middle half▼ 1.661.80within the sector's middle half▲ 0.610.89below the sector's middle half▼ 0.91
Return on assets (ROA)47.8%above the sector's middle half-8.3%within the sector's middle half▼ 39.5pp21.2%above the sector's middle half▲ 13.0pp-5.3%below the sector's middle half▼ 26.5pp
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €6,954 after €15,310 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €205,028
Fixed assets
€159,938 ▲ 1,555%
Current assets
€45,089 ▲ 47.6%
Equity and liabilities €206,211
Equity
€33,943 ▲ 36.9%
Debt
€172,268 ▲ 917%
Debt's share of the balance-sheet total rises from 40.6% to 83.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€1,550▼
2023 · €18,202
Cash flow
-€5,454▼
2023 · €11,753
Debt to equity
5.08▲
2023 · 0.68
ROE
-32.0%▼
2023 · 35.7%
Interest coverage
-0.62▼
2023 · 5.63
Debt ≤ 1 year
€50,488▲
2023 · €16,938
Debt > 1 year
€115,430
Income taxes
€1,400▼
2023 · €3,214
Staff costs
€57
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,548 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 91% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
4.3%
went bankrupt
3.9%
stopped otherwise
91%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.7% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,548 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 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,453 | - |
| Remuneration, social security and pensions62 | - | - | - | €57 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42 | €1,219 | €2,892 | €5,404 | ▲ 86.9% |
| Other operating charges640/8 | €300 | €950 | €735 | €4,174 | ▲ 468% |
| Gross operating margin9900 | €8,371 | €10,462 | €18,937 | €2,680 | ▼ 85.8% |
| Operating profit (loss)9901 | €8,029 | €8,292 | €15,310 | -€6,954 | ▼ 145% |
| Financial income75/76B | €10 | €383 | €0 | €1 | ▲ 5,400% |
| Recurring financial income75 | €10 | €383 | €0 | €1 | ▲ 5,400% |
| Financial charges65/66B | €25 | €1,312 | €3,235 | €2,504 | ▼ 22.6% |
| Recurring financial charges65 | €25 | €1,312 | €3,235 | €2,504 | ▼ 22.6% |
| Profit (loss) for the period before taxes9903 | €8,014 | €7,363 | €12,075 | -€9,458 | ▼ 178% |
| Income taxes67/77 | €1,720 | €1,718 | €3,214 | €1,400 | ▼ 56.4% |
| Profit (loss) for the period9904 | €6,293 | €5,646 | €8,862 | -€10,857 | ▼ 223% |
| Profit (loss) for the period to be appropriated9905 | €6,293 | €5,646 | €8,862 | -€10,857 | ▼ 223% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €13,171 | €68,292 | €41,738 | €206,211 | ▲ 394% |
| Formation expenses20 | - | - | €1,533 | €1,183 | ▼ 22.8% |
| Fixed assets21/28 | €4,958 | €5,739 | €9,664 | €159,938 | ▲ 1,555% |
| Tangible fixed assets22/27 | €4,958 | €5,739 | €9,664 | €159,938 | ▲ 1,555% |
| Land and buildings22 | - | - | - | €145,827 | - |
| Plant, machinery and equipment23 | €4,958 | €5,739 | €4,339 | €9,246 | ▲ 113% |
| Furniture and vehicles24 | - | - | €5,325 | €4,865 | ▼ 8.6% |
| Current assets29/58 | €8,213 | €62,553 | €30,541 | €45,089 | ▲ 47.6% |
| Amounts receivable within one year40/41 | €4,054 | €51,414 | €21,148 | €31,516 | ▲ 49.0% |
| Trade receivables40 | €3,441 | €41,299 | €14,175 | €4,541 | ▼ 68.0% |
| Other amounts receivable41 | €613 | €10,114 | €6,973 | €26,975 | ▲ 287% |
| Cash at bank and in hand54/58 | €4,159 | €10,757 | €9,010 | €13,190 | ▲ 46.4% |
| Deferred charges and accrued income490/1 | - | €383 | €383 | €383 | = |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €13,171 | €68,292 | €41,738 | €206,211 | ▲ 394% |
| Equity10/15 | €10,293 | €15,939 | €24,801 | €33,943 | ▲ 36.9% |
| Contributions10/11 | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Reserves13 | €6,293 | €11,939 | €20,801 | €28,301 | ▲ 36.1% |
| Distributable reserves133 | €6,293 | €11,939 | €20,801 | €28,301 | ▲ 36.1% |
| Profit (loss) carried forward14 | - | - | - | €1,643 | - |
| Amounts payable17/49 | €2,878 | €52,353 | €16,938 | €172,268 | ▲ 917% |
| Amounts payable after more than one year17 | - | - | - | €115,430 | - |
| Financial debts170/4 | - | - | - | €115,430 | - |
| Amounts payable within one year42/48 | €2,878 | €52,353 | €16,938 | €50,488 | ▲ 198% |
| Trade debts44 | €1,076 | €24,536 | €8,115 | €12,745 | ▲ 57.1% |
| Suppliers440/4 | €1,076 | €24,536 | €8,115 | €12,745 | ▲ 57.1% |
| Advances received on contracts in progress46 | - | €23,290 | - | - | - |
| Taxes, remuneration and social security45 | €1,801 | €4,527 | €8,823 | €4,613 | ▼ 47.7% |
| Taxes450/3 | €1,801 | €4,527 | €8,823 | €4,613 | ▼ 47.7% |
| Other amounts payable47/48 | - | - | - | €33,130 | - |
| Accrued charges and deferred income492/3 | - | - | - | €6,350 | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,293 | €5,646 | €8,862 | -€10,857 | ▼ 223% |
| + Depreciation and write-downs630 | €42 | €1,219 | €2,892 | €5,404 | ▲ 86.9% |
| Operating cash flow (approximation) | €6,335 | €6,865 | €11,753 | -€5,454 | ▼ 146% |
| Investment in fixed assets (approximation) | - | -€2,000 | -€6,817 | -€155,678 | ▼ 2,184% |
| Change in cash | - | €6,598 | -€1,747 | €4,180 | ▲ 339% |
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
15-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 76 days late
2024
31-12
Financial
Weakest financial yearnet -€10,857
Net result drops to -€10,857, the lowest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
20-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 294 days late
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 659 days late
2023
31-12
Financial
Highest result since 2021net €8,862 ▲57%
Operating result €15,310, net result €8,862, both a record.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Genk · 1 establishment unit since 2021
Ground area
4,799 m²
Building footprint
1,035 m²
Volume, LiDAR
5,032 m³
Parcel 71304D1231/00B004, Flanders · tallest building 8.5 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Ferromax
since 20212.322.351.828
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71304D1231/00B004 | Flanders | 4,799 m² | 1 · 1,035 m² | 8.5 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,982 companies in sector 25110 we hold annual accounts for 2,144. 1,272 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
Founded03-09-2021
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
25120Manufacture of fabricated metal products, except machinery and equipment
25999Manufacture of fabricated metal products, except machinery and equipment
31001Manufacture of furniture
31004Manufacture of dining room, living room, bedroom and bathroom furniture
43990Other specialised construction activities
Contact
Website
www.ferromax.be
E-mail
info@ferromax.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0773520659
Also
9925:BE0773520659
Registered
31-10-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.