Equity
Equity fell in 2025 from €1.5m to €1.0m.
Equity fell in 2025 from €1.5m to €1.0m.
Every financial year from 2022 to 2025 closed with a loss. 2025 was the heaviest.
Higher solvency than 95% of companies in real estate. Sector median 30.7% · 11,297 companies.
In July 2024, 2,686 companies had the same profile as FIGES has now. Each dot stands for 7 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 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 2,686 companies, not a prediction for FIGES. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| FIGES Charleroi | €1.0m | €1,524 | 99.5% | - |
| Dathan Antwerp | €1.0m | -€1,533 | 79.4% | 0 |
| JETTEQUE Brussels | €1.1m | -€38,192 | 7.9% | - |
| Souverain 90 Watermael-Boitsfort | €1.0m | -€14,005 | 0.7% | - |
| ALMALYCA Wingene | €1.0m | -€8,178 | 66.3% | - |
| VADEP Ghent | €1.3m | €1,958 | 7.5% | - |
| Immo Relemko Beringen | €0.8m | -€4,453 | 26.0% | - |
These companies have the same main activity as FIGES: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €829,000 and €1.3m, founded between 2002 and 2011.
FIGES files the abbreviated format. That format states no turnover. The gross margin fell from €9,762 in 2008 to €1,524 in 2025.
The balance sheet grew most from 2015 to 2017 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €5,300. Estimated: probably between €2,000 and €12,000.
Higher than 95% of 11,297 companies in 2025.
Higher than 95% of 7,707 companies in 2020.
Higher than 12% of 11,182 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
1.0m | 1.5m | 1.5m | 1.6m | 1.6m | 1.6m | 1.6m | 1.5m | 1.5m | 797,214 | 779,718 | 415,894 | 373,326 | 357,826 | 340,698 | 336,618 | 334,175 | 275,611 | 266,224 | |
21/28 |
982,299 | 1.0m | 1.0m | 1.1m | 1.1m | 1.2m | 1.2m | 1.3m | 1.3m | 652,966 | 652,966 | 323,094 | 282,385 | 282,385 | 282,385 | 282,385 | 282,385 | 266,224 | - | |
22/27 |
561,527 | 591,502 | 627,469 | 663,437 | 699,405 | 735,373 | 771,340 | 807,308 | 831,912 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | - | - | |
22 |
553,261 | 588,092 | 622,924 | 657,755 | 692,586 | 727,418 | 762,249 | 797,080 | 831,912 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | 16,162 | - | - | |
23 |
8,266 | 3,409 | 4,546 | 5,682 | 6,818 | 7,955 | 9,091 | 10,228 | - | - | - | - | - | - | - | - | - | - | - | |
28 |
420,772 | 420,772 | 420,772 | 420,772 | 420,772 | 478,218 | 478,218 | 478,218 | 478,218 | 636,805 | 636,805 | 306,933 | 266,224 | 266,224 | 266,224 | 266,224 | 266,224 | 266,224 | 266,224 | |
29/58 |
53,603 | 503,536 | 500,186 | 482,595 | 518,949 | 394,125 | 333,483 | 248,342 | 191,654 | 144,247 | 126,752 | 92,799 | 90,940 | 75,440 | 58,313 | 54,233 | 51,790 | 9,387 | - | |
40/41 |
7,368 | - | - | 3,179 | 3,179 | 4,456 | 4,456 | 95,656 | 25,656 | 4,456 | 41,108 | 4,456 | - | - | - | - | - | - | - | |
40 |
1,974 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
41 |
5,395 | - | - | 3,179 | 3,179 | 4,456 | 4,456 | 95,656 | 25,656 | 4,456 | 41,108 | 4,456 | - | - | - | - | - | - | - | |
50/53 |
- | - | - | - | 400,000 | - | - | - | - | - | - | - | - | - | - | - | - | 9,387 | - | |
54/58 |
46,235 | 470,841 | 468,766 | 479,416 | 115,770 | 373,930 | 329,027 | 152,686 | 165,999 | 139,792 | 85,644 | 88,344 | 90,940 | 75,440 | 58,313 | 54,233 | 51,790 | - | - | |
490/1 |
0 | 32,695 | 31,421 | - | - | 15,740 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
1.0m | 1.5m | 1.5m | 1.6m | 1.6m | 1.6m | 1.6m | 1.5m | 1.5m | 797,214 | 779,718 | 415,894 | 373,326 | 357,826 | 340,698 | 336,618 | 334,175 | 275,611 | 266,224 | |
10/15 |
1.0m | 1.5m | 1.5m | 1.6m | 1.6m | 1.6m | 1.6m | 1.5m | 1.5m | 791,418 | 773,518 | 397,703 | 206,214 | 338,954 | 323,327 | 320,457 | 314,014 | 275,611 | 266,224 | |
10/11 |
217,258 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 266,684 | 266,684 | 266,684 | 131,670 | 131,670 | 131,670 | 131,670 | 131,670 | 131,670 | - | |
10 |
217,258 | 896,431 | 896,431 | 896,431 | 896,431 | - | - | - | - | - | - | - | - | - | - | - | - | - | 131,670 | |
100 |
217,258 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 896,431 | 266,684 | 266,684 | 266,684 | 131,670 | 131,670 | 131,670 | 131,670 | 131,670 | 131,670 | 131,670 | |
13 |
813,644 | 614,378 | 646,996 | 43,399 | 43,399 | 43,399 | 42,136 | 39,725 | 38,610 | 35,079 | 35,079 | 24,401 | 21,578 | 21,578 | 21,578 | 21,578 | 21,578 | 21,578 | 21,578 | |
130/1 |
34,988 | 34,988 | 34,988 | 40,118 | 40,118 | 40,118 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | - | |
130 |
34,988 | 34,988 | 34,988 | 34,988 | 34,988 | 34,988 | 33,725 | 31,315 | 30,199 | 26,668 | 26,668 | 15,991 | 13,167 | 13,167 | 13,167 | 13,167 | 13,167 | 13,167 | 13,167 | |
1311 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5,130 | |
1319 |
- | - | - | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | 5,130 | - | |
133 |
778,656 | 579,390 | 612,008 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,281 | |
14 |
- | - | - | 621,724 | 662,062 | 647,728 | 623,733 | 577,934 | 556,743 | 489,655 | 471,755 | 106,617 | 52,967 | 185,706 | 170,079 | 167,209 | 160,766 | 122,363 | 112,976 | |
16 |
- | - | - | - | 31,500 | - | - | 10,000 | 10,000 | - | - | - | - | - | - | - | - | - | - | |
160/5 |
- | - | - | - | 31,500 | - | - | 10,000 | 10,000 | - | - | - | - | - | - | - | - | - | - | |
162 |
- | - | - | - | - | - | - | 10,000 | 10,000 | - | - | - | - | - | - | - | - | - | - | |
164/5 |
- | - | - | - | 31,500 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
5,000 | 5,000 | 5,000 | 5,250 | 5,733 | 20,158 | 20,741 | 9,778 | - | 5,795 | 6,200 | 18,191 | 167,112 | 18,872 | 17,372 | 16,162 | 20,162 | - | - | |
17 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
178/9 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
- | - | - | 250 | 733 | 20,158 | 20,741 | 6,978 | - | 5,795 | 6,200 | 18,191 | 167,112 | 18,872 | 17,372 | 16,162 | 20,162 | - | - | |
44 |
- | - | - | - | - | - | 2,143 | 5,578 | - | - | - | - | - | 1,210 | 1,210 | - | - | - | - | |
440/4 |
- | - | - | - | - | - | 2,143 | 5,578 | - | - | - | - | - | 1,210 | 1,210 | - | - | - | - | |
45 |
- | - | - | 250 | 733 | 20,158 | 18,598 | 1,399 | - | 5,795 | 6,200 | 2,030 | 15,950 | 1,500 | - | - | 4,000 | - | - | |
450/3 |
- | - | - | 250 | 733 | 20,158 | 18,598 | 1,399 | - | 5,795 | 6,200 | 2,030 | 15,950 | 1,500 | - | - | 4,000 | - | - | |
47/48 |
- | - | - | - | - | - | - | - | - | - | - | 16,162 | 151,162 | 16,162 | 16,162 | 16,162 | 16,162 | - | - | |
492/3 |
- | - | - | - | - | - | - | 2,800 | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||||
9900 |
1,524 | 43,123 | 65,484 | -5,789 | 118,120 | 101,099 | 119,357 | 92,734 | 57,786 | 24,497 | 24,846 | 20,902 | 24,250 | 19,851 | 11,395 | 9,861 | 9,859 | 9,762 | - | |
630 |
36,069 | 35,968 | 35,968 | 35,968 | 35,968 | 35,968 | 35,968 | 35,968 | 34,831 | - | - | - | - | - | - | - | - | - | - | |
635/8 |
- | - | - | -31,500 | 31,500 | - | -10,000 | - | 10,000 | - | - | - | - | - | - | - | - | - | - | |
640/8 |
40,930 | 39,624 | 37,743 | 29,931 | 29,320 | 29,116 | 28,614 | 23,107 | 868 | - | 348 | 348 | 242 | 467 | - | 348 | 423 | 348 | - | |
9901 |
-75,476 | -32,468 | -8,227 | -40,188 | 21,332 | 36,015 | 64,775 | 33,660 | 12,086 | 24,497 | 24,499 | 20,555 | 24,008 | 19,384 | 11,395 | 9,513 | 9,437 | 9,414 | - | |
75/76B |
- | - | - | - | - | 36 | 132 | 199 | 62,303 | 598 | 366,562 | 45,229 | 184 | 322 | 93 | 18 | 33,001 | - | - | |
75 |
- | - | - | - | - | 36 | 132 | 199 | 62,303 | 598 | 366,562 | 45,229 | 184 | 322 | 93 | 18 | 33,001 | - | - | |
65/66B |
180 | 150 | 150 | 150 | 177 | 120 | 145 | 131 | 99 | 83 | 85 | 214 | 68 | 1,254 | 1,246 | 35 | 35 | 27 | - | |
65 |
180 | 150 | 150 | 150 | 177 | 120 | 145 | 131 | 99 | 83 | 85 | 214 | 68 | 1,254 | 1,246 | 35 | 35 | 27 | - | |
9903 |
-75,656 | -32,618 | -8,377 | -40,338 | 21,155 | 35,931 | 64,762 | 33,729 | 74,290 | 25,013 | 390,975 | 65,570 | 24,124 | 18,452 | 10,242 | 9,495 | 42,403 | 9,387 | - | |
67/77 |
-10,000 | - | 9,750 | - | 6,821 | 10,673 | 16,552 | 11,422 | 3,672 | 7,113 | 15,159 | 9,096 | 6,864 | 2,824 | 7,372 | 3,052 | 4,000 | - | - | |
9904 |
-65,656 | -32,618 | -18,127 | -40,338 | 14,334 | 25,258 | 48,210 | 22,306 | 70,618 | 17,900 | 375,816 | 56,474 | 17,260 | 15,627 | 2,870 | 6,443 | 38,403 | 9,387 | - | |
9905 |
-65,656 | -32,618 | -18,127 | -40,338 | 14,334 | 25,258 | 48,210 | 22,306 | 70,618 | 17,900 | 375,816 | 56,474 | 17,260 | 15,627 | 2,870 | 6,443 | 38,403 | 9,387 | - | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-65,656 | -32,618 | 603,597 | 621,724 | 662,062 | 648,991 | 626,143 | 579,049 | 560,274 | 489,655 | 482,433 | 109,441 | 202,967 | 185,706 | 170,079 | 167,209 | 160,766 | 122,363 | 112,976 | |
14P |
- | - | 621,724 | 662,062 | 647,728 | - | - | - | - | - | - | - | - | - | - | - | - | - | 112,976 | |
791/2 |
330,578 | 32,618 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
264,922 | - | 603,597 | - | - | 1,263 | 2,410 | 1,115 | 3,531 | - | 10,678 | 2,824 | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | 1,263 | 2,410 | 1,115 | 3,531 | - | 10,678 | 2,824 | - | - | - | - | - | - | - | |
6921 |
264,922 | - | 603,597 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | - | 150,000 | - | - | - | - | - | - | |
694 |
- | - | - | - | - | - | - | - | - | - | - | - | 150,000 | - | - | - | - | - | - | |
| Document | ||||||||||||||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 25-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-06-2026 | 2026-00206814 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00349455 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00323705 | |
| 31-12-2022 | micro format | 13-07-2023 | 2023-00231588 | |
| 31-12-2021 | micro format | 03-08-2022 | 2022-20273137 | |
| 31-12-2020 | micro format | 14-07-2021 | 2021-35500203 | |
| 31-12-2019 | micro format | 13-07-2020 | 2020-29400386 | |
| 31-12-2018 | micro format | 27-06-2019 | 2019-24400053 | |
| 31-12-2017 | micro format | 05-07-2018 | 2018-30000375 | |
| 31-12-2016 | full format | 06-07-2017 | 2017-27900249 | |
| 31-12-2015 | full format | 19-08-2016 | 2016-44500166 | |
| 31-12-2014 | full format | 28-07-2015 | 2015-37100109 | |
| 31-12-2013 | full format | 16-06-2014 | 2014-18000601 | |
| 31-12-2012 | full format | 20-06-2013 | 2013-19300237 | |
| 31-12-2011 | full format | 04-07-2012 | 2012-27300004 | |
| 31-12-2010 | full format | 21-06-2011 | 2011-19300203 | |
| 31-12-2009 | full format | 08-07-2010 | 2010-28400395 | |
| 31-12-2008 | full format | 26-06-2009 | 2009-32800252 | |
| 31-12-2007 | full format | 12-08-2008 | 2008-57200394 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -39,407 | 3,500 | 27,741 | -4,220 | 57,300 | 71,983 | 100,743 | 69,627 | 46,918 | - | - | - | - | - | - | - | - | - | - | ||
| -29,587 | 3,350 | 17,841 | -4,370 | 50,302 | 61,226 | 84,177 | 58,274 | 105,450 | - | - | - | - | - | - | - | - | - | - | ||
| 6,095 | 0 | 0 | 0 | -57,446 | 0 | 0 | 11,364 | 850,581 | - | 329,872 | 40,709 | - | - | - | - | 16,162 | - | 266,224 | ||
| -424,606 | 2,075 | -10,651 | 363,646 | -258,159 | 44,903 | 176,341 | -13,312 | 26,207 | 54,148 | -2,700 | -2,597 | 15,500 | 17,127 | 4,080 | 2,443 | - | - | - | ||
| - | - | - | 482,346 | 518,216 | 373,968 | 312,742 | 241,364 | - | 138,452 | 120,552 | 74,608 | -76,171 | 56,569 | 40,941 | 38,071 | 31,628 | - | - | ||
| 99.5% | 99.7% | 99.7% | 99.7% | 97.7% | 98.7% | 98.7% | 98.7% | 99.3% | 99.3% | 99.2% | 95.6% | 55.2% | 94.7% | 94.9% | 95.2% | 94.0% | 100.0% | 100.0% | ||
| - | - | - | - | - | 19.55 | 16.08 | 35.59 | - | 24.89 | 20.44 | 5.10 | 0.54 | 4.00 | 3.36 | 3.36 | 2.57 | - | - | ||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | - | 0.01 | 0.01 | 0.05 | 0.81 | 0.06 | 0.05 | 0.05 | 0.06 | - | - | ||
| -6.4% | -2.2% | -1.2% | -2.6% | 0.9% | 1.6% | 3.1% | 1.5% | 4.7% | 2.3% | 48.6% | 14.2% | 8.4% | 4.6% | 0.9% | 2.0% | 12.2% | 3.4% | - | ||
| -6.3% | -2.2% | -1.2% | -2.6% | 0.9% | 1.6% | 3.0% | 1.5% | 4.7% | 2.2% | 48.2% | 13.6% | 4.6% | 4.4% | 0.8% | 1.9% | 11.5% | 3.4% | - | ||
| -218.80 | 23.33 | over 100 | -28.14 | over 100 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €6,095 | - | - | - | - |
| €36,069 | €35,968 | €35,968 | €35,968 | €35,968 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €75,476, larger than the loss of €32,468 in 2024. It is the lowest result since 2008.
Debt's share of the balance-sheet total rises from 0.3% to 0.5%. Equity is lower.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| CHAUFFAGE INDUSTRIE SANITAIRE DOFNY
registered office since 01-01-1979 · founded in 1979 |
28 FTE (2025) 0419.624.473 |
| FIDOF
registered office since 27-06-1979 · founded in 1979 |
total assets €1.3m (2025) 0419.625.265 |
| VALIMMO INVEST
registered office since 05-08-2022 · founded in 2022 · negative equity (2024) · accounts filed late |
total assets €194,309 (2024) 0789.428.164 |
| STEEL COMPANY G.A.
registered office since 27-03-2015 |
founded in 2015 0627.643.250 |
The network starts from the directors of FIGES. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Chaussée de Montigny 150 registered office 6060 Charleroi |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 52026D0626/00V000 | 779 m² | 1 · 108 m² | 11.4 m · 3 |
If something looks wrong or is missing, please tell us.