Fibertree
ActiveSummary
Fibertree has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €165,195 and a net result of €29,155. Equity has been growing by about 20% per year since 2018. Its solvency ranks better than 81% of 1,257 sector peers (NACE 42, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 16-01-2018 Normal situation
- Activity
- Civil engineering NACE 42219and 1 other
- Establishment unit
- 2.272.810.265 9300 Aalst, since 16-01-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 09-02-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.1%
- Gross margin
- €88,117
- ▲ 42.5%
- Turnover
- ≈ €270,000
- estimated
- Profit
- €29,155
- Equity
- €165,195
- ▲ 21.4%
- Total assets
- €229,026
- ▼ 12.2%
- Staff
- ≈ 0 FTE
- estimated
- 2025 accounts filed 68 days after the deadline
Score breakdownraises riskLast filed accounts filed 68 days late; 1 of the last 3 accounts lateSize: total assets €229,026Sector: Civil engineering (NACE 42)lowers riskEquity €165,195 (72.1% of total assets)Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 42, micro). It does better than 81% of them on solvency, 54% on liquidity, 65% on profitability and 66% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 37 days after the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 68 days after the deadline Filed on 7 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00557153.
Annual accounts 2025 filed on 07-10-2026 at the NBB all 8 filings
Every figure per financial year
The operating result for 2025 is over 14 times that of 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €58,915 | €29,439 | €73,600 | €10,564 | - |
| Financial fixed assets | - | - | - | €135 | - |
| Depreciation and write-downs of the year | €36,411 | €40,578 | €38,409 | €54,578 | €40,730 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | - | - | - | €354 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,861 | €12,861 | €20,737 | €36,411 | €40,578 | €38,409 | €54,578 | €40,730 | ▼ 25.4% |
| Other operating charges640/8 | - | - | - | €390 | €2,115 | €922 | €4,176 | €2,906 | ▼ 30.4% |
| Non-recurring operating charges66A | - | - | - | - | - | €1,635 | €0 | - | - |
| Gross operating margin9900 | €14,462 | €20,455 | €108,801 | €85,642 | €57,803 | €88,358 | €61,845 | €88,117 | ▲ 42.5% |
| Operating profit (loss)9901 | €1,382 | €7,024 | €87,272 | €48,842 | €15,110 | €47,392 | €3,091 | €44,126 | ▲ 14× |
| Financial income75/76B | - | - | - | €6 | €0 | - | €0 | €4 | ▲ 20× |
| Recurring financial income75 | €0 | €10 | - | €6 | €0 | - | €0 | €4 | ▲ 20× |
| Financial charges65/66B | - | - | - | €2,536 | €2,726 | €6,882 | €4,137 | €3,603 | ▼ 12.9% |
| Recurring financial charges65 | €1,704 | €1,365 | €3,890 | €2,536 | €2,726 | €6,882 | €4,137 | €3,603 | ▼ 12.9% |
| Profit (loss) for the period before taxes9903 | -€322 | €5,670 | €83,382 | €46,312 | €12,385 | €40,510 | -€1,046 | €40,528 | - |
| Income taxes67/77 | €425 | €2,000 | €25,305 | €6,169 | €4,706 | €9,595 | €790 | €11,373 | ▲ 14× |
| Profit (loss) for the period9904 | -€747 | €3,670 | €58,077 | €40,143 | €7,678 | €30,915 | -€1,836 | €29,155 | - |
| Profit (loss) for the period to be appropriated9905 | -€747 | €3,670 | €58,077 | €40,143 | €7,678 | €30,915 | -€1,836 | €29,155 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €70,193 | €56,769 | €191,114 | €243,835 | €243,118 | €283,606 | €260,888 | €229,026 | ▼ 12.2% |
| Formation expenses20 | €951 | €713 | €475 | €238 | €0 | €0 | €0 | €0 | = |
| Fixed assets21/28 | €41,894 | €29,271 | €90,633 | €113,374 | €102,473 | €137,664 | €93,785 | €53,055 | ▼ 43.4% |
| Tangible fixed assets22/27 | €41,894 | €29,271 | €90,433 | €113,174 | €102,273 | €137,464 | €93,450 | €52,720 | ▼ 43.6% |
| Plant, machinery and equipment23 | - | - | - | €74,807 | €55,008 | €36,915 | €17,627 | €3,640 | ▼ 79.3% |
| Furniture and vehicles24 | - | - | - | €38,368 | €47,265 | €100,549 | €75,824 | €49,080 | ▼ 35.3% |
| Financial fixed assets28 | - | - | €200 | €200 | €200 | €200 | €335 | €335 | = |
| Current assets29/58 | €27,349 | €26,785 | €100,006 | €130,223 | €140,645 | €145,942 | €167,103 | €175,971 | ▲ 5.3% |
| Amounts receivable within one year40/41 | €23,036 | €26,508 | €99,364 | €126,219 | €124,171 | €136,987 | €164,123 | €161,308 | ▼ 1.7% |
| Trade receivables40 | - | - | - | €34,992 | €7,299 | €8,765 | €22,933 | €19,347 | ▼ 15.6% |
| Other amounts receivable41 | - | - | - | €91,227 | €116,872 | €128,222 | €141,190 | €141,961 | ▲ 0.5% |
| Cash at bank and in hand54/58 | €4,313 | €278 | €642 | €2,172 | €16,038 | €7,642 | €1,095 | €9,940 | ▲ 808% |
| Deferred charges and accrued income490/1 | - | - | - | €1,832 | €436 | €1,314 | €1,885 | €4,723 | ▲ 151% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €70,193 | €56,769 | €191,114 | €243,835 | €243,118 | €283,606 | €260,888 | €229,026 | ▼ 12.2% |
| Equity10/15 | €5,453 | €9,123 | €67,200 | €107,343 | €127,422 | €137,876 | €136,040 | €165,195 | ▲ 21.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €18,600 | €0 | - | - | - |
| Reserves13 | - | €1,860 | €59,937 | €100,080 | €107,758 | €136,813 | €136,813 | €165,968 | ▲ 21.3% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €98,220 | €105,898 | €136,813 | €136,813 | €165,968 | ▲ 21.3% |
| Profit (loss) carried forward14 | -€747 | €1,063 | €1,063 | €1,063 | €1,063 | €1,063 | -€773 | -€773 | = |
| Amounts payable17/49 | €64,740 | €47,646 | €123,913 | €136,492 | €115,696 | €145,730 | €124,848 | €63,831 | ▼ 48.9% |
| Amounts payable after more than one year17 | €34,943 | €25,272 | €64,894 | €72,672 | €49,421 | €77,054 | €48,144 | €31,848 | ▼ 33.8% |
| Financial debts170/4 | - | - | - | €72,672 | €49,421 | €77,054 | €48,144 | €31,848 | ▼ 33.8% |
| Amounts payable within one year42/48 | €29,797 | €21,012 | €59,019 | €63,820 | €66,275 | €68,676 | €76,704 | €31,983 | ▼ 58.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €41,197 | €42,969 | €44,367 | €35,120 | €16,296 | ▼ 53.6% |
| Financial debts43 | - | - | - | €5,944 | €5,035 | €3,781 | €6,989 | €3,400 | ▼ 51.3% |
| Credit institutions430/8 | - | - | - | €5,944 | €5,035 | €3,781 | €6,989 | €3,400 | ▼ 51.3% |
| Trade debts44 | €15,207 | €8,113 | €4,696 | €12,143 | €12,966 | €16,147 | €30,981 | €12,287 | ▼ 60.3% |
| Suppliers440/4 | - | - | - | €12,143 | €12,966 | €16,147 | €30,981 | €12,287 | ▼ 60.3% |
| Taxes, remuneration and social security45 | - | - | - | €4,537 | €5,304 | €4,382 | €3,614 | - | - |
| Taxes450/3 | - | - | - | €4,537 | €5,304 | €4,382 | €3,614 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€747 | €3,670 | €58,077 | €40,143 | €7,678 | €30,915 | -€1,836 | €29,155 | - |
| + Depreciation and write-downs630 | €12,861 | €12,861 | €20,737 | €36,411 | €40,578 | €38,409 | €54,578 | €40,730 | ▼ 25.4% |
| Operating cash flow (approximation) | €12,114 | €16,530 | €78,815 | €76,554 | €48,257 | €69,324 | €52,742 | €69,885 | ▲ 32.5% |
| Investment in fixed assets (approximation) | - | -€238 | -€82,099 | -€59,153 | -€29,677 | -€73,600 | -€10,699 | €0 | - |
| Change in cash | - | -€4,035 | €364 | €1,531 | €13,865 | -€8,396 | -€6,547 | €8,845 | - |
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, 26,972 companies had the same profile as Fibertree has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Fibertree itself: 1.1% within 12 months.
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 26,972 companies, not a prediction for Fibertree. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-10-2026 | 2026-00557153 | |
| 31-12-2024 | micro format | 10-08-2025 | 2025-00370013 | |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00323332 | |
| 31-12-2022 | micro format | 15-09-2023 | 2023-00452952 | |
| 31-12-2021 | micro format | 23-09-2022 | 2022-20444246 | |
| 31-12-2020 | micro format | 23-09-2021 | 2021-68200342 | |
| 31-12-2019 | micro format | 28-08-2020 | 2020-49500083 | |
| 31-12-2018 | micro format | 02-09-2019 | 2019-63600207 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 23-10-2023 Converted to unavailable equity · €18,600
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| VANHULLE Niels |
|
Network & group
Fibertree shares no director with another company.
Companies at the same address
8 other companies- Vanhulle Holdings Registered office · since 2026 1038026692
- Nachtvlam Establishment · since 2022 0785958039
- Lambda-max Establishment · since 2011 0837796720
- Familie Vyverman Registered office · since 2007 0722746208
- Le Cabri Registered office · since 2006 0879683003
- Christian Floru Registered office · since 2005 0871065641
- PIPENPOY Registered office · since 2000 0472156111
- MADICO Establishment · since 1991 0442958517
Connections & network
1 current directorThe network starts from the directors of Fibertree. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
23-10
Gazette deed
Resignation: VANHULLE Niels (manager)Reappointment: VANHULLE Niels (director) · Capital · Director discharge12 points ▸
- Capital
- Director resignation, VANHULLE Niels (manager)
- Director reappointment, VANHULLE Niels (director (not named in the articles))
- Director discharge, VANHULLE Niels
- Registered office clause, “9300 Aalst, Fritz De Wolfkaai 8 bus 33” (deed in Dutch)
- Power of attorney, Christiane Denys
- General meeting, 03-10-2023
- Other provision, “besloten vennootschap (afgekort BV)” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden van de statutenwijziging, opheffen” (deed in Dutch)
- Other provision, “Wetboek van Vennootschappen, wijzing op wettelijke verplichtingen” (deed in Dutch)
- Amendment of the articles
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
45 activities
- Algemene coördinatiewerkzaamheden bouwwerf
- Bouw van autowegen,straten en andere wegen en paden voor voertuigen en voetgangers (inclusief het plaatsen van vangrails)
- Bouw van start- en landingsbanen
- Schilderen van markeringen op wegen en parkeerplaatsen
- Bouw van bruggen (inclusief bruggen voor verhoogde wegen),viaducten,enz.
- Bouw van tunnels voor spoorweg- en autoverkeer en van overige ondergrondse doorgangen
- Bouw van water- en gasdistributienetten
- Aanleg van waterdistributienetten en rioleringen
- Aanleg van leidingen voor het vervoer en distributie van elektrische energie
- Aanleg van telecommunicatielijnen en -netten
- Uitvoeren van baggerwerken
- Ruimen van waterlopen,sloten,enz.
- Aanleg van havens (inclusief jachthavens) en dokken
- Aanleg van dammen en dijken
- Aanleg van kanalen en andere waterwegen
- Bouw van sluizen,zwaaikommen,enz.
- Bouw van bezinkbekkens en andere constructies ten behoeve van de waterzuivering
- Bouw van speel- en sportterreinen,zwembaden (openluchtzwembaden),enz.
- Slopen van gebouwen en andere bouwwerken
- Grondverzet : graven,ophogen,egaliseren en nivelleren van bouwterreinen,graven van sleuven en geulen,verwijderen van rotsen,grondverzet met behulp van explosieven
- Geschikt maken van terreinen voor mijnbouw verwijderen van deklagen en overige werkzaamheden in verband met de ontsluiting van delfstoffen en de voorbereiding van de ontginning
- Verlaging van het grondwaterpeil en drainage van bouwterreinen
- Drainage van land- en bosbouwgrond
- Ruimen van bouwterreinen
- Proefboren en het nemen van bodemmonsters ten behoeve van de bouw of voor geofysische,geologische of andere doeleinden
- Uitvoeren van horizontale boringen voor het leggen van kabels en kanalisaties
- Onderneming voor de installatie van elektrische bedrading en toebehoren
- Onderneming voor de installatie van de bedrading voor telefooninstallaties en computersystemen
- Onderneming voor de installatie van bewakingssystemen en alarminstallaties tegen diefstal
- Overige installaties (inclusief accessoires),n.e.g.
- Overige gespecialiseerde bouwwerkzaamheden
- Onderneming voor het bouwen van funderingen.inclusief helen
- Onderneming voor het vlechten van ijzer en aanbrengen van bekisting
- Onderneming voor het monteren van niet-zelfvervaardigde metalen constructiewerken
- Onderneming voor het uitvoeren van hijs- en hefwerkzaamheden voor rekening van derden
- Verhuur van machines voor de bouwnijverheid met bedieningspersoneel
- Uitvoeren van diverse werkzaamheden onder water
- Goederenvervoer over de weg,m.u.v.verhuisbedrijven
- Goederenvervoer langs de weg : vervoer van boomstammen,vee.auto's,afval,vervoer met koelwagens,zwaar internationaal vervoer.vervoer van bulkgoederen.inclusief vervoer in tankwagens
- Vervoer van stortklare beton die niet door de eenheid zelf werd vervaardigd
- Het toezien op de bouwwerkzaamheden (ruwbouw,installatie,afwerking.enz.) door de architect
- Uitwerking en realisatie van projecten op het gebied van de elektriciteit en elektronica,mijnbouw,chemie,machine- en werktuigbouw,industriële systeemontwikkeling.veiligheid,enz
- Uitwerking van projecten op het gebied van de burgerlijke en utiliteitsbouw.de weg- en waterbouw en het verkeer
- Diverse ondersteunende activiteiten ten behoeve van voorzieningen
- Aanleggen en onderhouden van tuinen,parken en het groene gedeelte van sportvelden
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0688.528.467
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41002A0715/00L004 | Flanders | 2,241 m² | 1 · 752 m² | 28.9 m · 6 |