Finas
ActiveSummary
Finas has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €59,977 and a net result of €469. Equity is growing by ~33.2% per year across the filed fiscal years. Its solvency ranks better than 80% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-23
Solvency97▲+32
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.16 against 0.87 in 2024; short-term debt: 27.7% and cash: 30.8% of total assets), and 27.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
72.3%
Return on assets
0.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
29 d late
2022
29 d late
2021
76 d late
2020
26 d late
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 18 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#3 oldest company in Ninove, Real estate sector
Turnover
€28,056
EBIT margin
-36.9%
Net result
€469▼ 98.3%
2024 · €27,379
Working capital
€3,756
2024 · -€11,495
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€28,056
Operating result-€10,362▼ 1,281%€134,797€4,554▼ 96.6%€36,147▲ 694%€2,969▼ 91.8%
Net result-€10,402▼ 1,228%€102,246€2,449▼ 97.6%€27,379▲ 1,018%€469▼ 98.3%
EBIT margin-36.9%
Equity-€72,566▼ 16.7%€29,680€32,129▲ 8.3%€59,509▲ 85.2%€59,977▲ 0.8%
Total assets€93,901▲ 2.2%€81,326▼ 13.4%€85,940▲ 5.7%€149,815▲ 74.3%€83,007▼ 44.6%
Debt€166,466▲ 8.1%€51,646▼ 69.0%€53,811▲ 4.2%€90,306▲ 67.8%€23,030▼ 74.5%
Working capital-€164,965▼ 7.6%€3,513€24,479▲ 597%-€11,495€3,756
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 92% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €83,007
Fixed assets
€56,222 ▼ 20.8%
Current assets
€26,786 ▼ 66.0%
Equity and liabilities €83,007
Equity
€59,977 ▲ 0.8%
Debt
€23,030 ▼ 74.5%
Debt's share of the balance-sheet total falls from 60.3% to 27.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€17,751▼
2024 · €49,768
Cash flow
€15,251▼
2024 · €41,001
Current ratio
1.16▲
2024 · 0.87
Debt to equity
0.38▼
2024 · 1.52
ROE
0.8%▼
2024 · 46.0%
ROA
0.6%▼
2024 · 18.3%
Interest coverage
450.87▼
2024 · 1181.03
Debt ≤ 1 year
€23,030▼
2024 · €90,306
Income taxes
€2,470▼
2024 · €8,771
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 16,986 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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €28,056 | - | - | - | - | - |
| Non-recurring operating income76A | - | €148,643 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €29,062 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,234 | - | €850 | €13,621 | €14,782 | ▲ 8.5% |
| Other operating charges640/8 | €2,123 | €2,071 | €819 | €1,680 | €868 | ▼ 48.3% |
| Gross operating margin9900 | -€1,006 | €136,868 | €6,223 | €51,448 | €18,619 | ▼ 63.8% |
| Operating profit (loss)9901 | -€10,362 | €134,797 | €4,554 | €36,147 | €2,969 | ▼ 91.8% |
| Financial income75/76B | - | €655 | - | €45 | €9 | ▼ 79.8% |
| Recurring financial income75 | - | €655 | - | €45 | €9 | ▼ 79.8% |
| Financial charges65/66B | €40 | €42 | €813 | €42 | €39 | ▼ 6.6% |
| Recurring financial charges65 | €40 | €42 | €42 | €42 | €39 | ▼ 6.6% |
| Non-recurring financial charges66B | - | - | €771 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€10,402 | €135,410 | €3,741 | €36,150 | €2,939 | ▼ 91.9% |
| Income taxes67/77 | - | €33,165 | €1,292 | €8,771 | €2,470 | ▼ 71.8% |
| Profit (loss) for the period9904 | -€10,402 | €102,246 | €2,449 | €27,379 | €469 | ▼ 98.3% |
| Profit (loss) for the period to be appropriated9905 | -€10,402 | €102,246 | €2,449 | €27,379 | €469 | ▼ 98.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €93,901 | €81,326 | €85,940 | €149,815 | €83,007 | ▼ 44.6% |
| Fixed assets21/28 | €92,399 | €26,167 | €7,651 | €71,004 | €56,222 | ▼ 20.8% |
| Tangible fixed assets22/27 | €92,324 | €26,167 | €7,651 | €71,004 | €56,222 | ▼ 20.8% |
| Land and buildings22 | €66,158 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | €26,167 | - | - | - | - |
| Furniture and vehicles24 | €26,167 | - | €7,651 | €71,004 | €56,222 | ▼ 20.8% |
| Financial fixed assets28 | €75 | - | - | - | - | - |
| Current assets29/58 | €1,501 | €55,159 | €78,289 | €78,811 | €26,786 | ▼ 66.0% |
| Amounts receivable within one year40/41 | - | €50,206 | €23,097 | €4,972 | €1,199 | ▼ 75.9% |
| Trade receivables40 | - | €248 | €1,484 | - | €436 | - |
| Other amounts receivable41 | - | €49,958 | €21,613 | €4,972 | €763 | ▼ 84.6% |
| Cash at bank and in hand54/58 | €1,501 | €4,953 | €54,357 | €73,839 | €25,587 | ▼ 65.3% |
| Deferred charges and accrued income490/1 | - | - | €835 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €93,901 | €81,326 | €85,940 | €149,815 | €83,007 | ▼ 44.6% |
| Equity10/15 | -€72,566 | €29,680 | €32,129 | €59,509 | €59,977 | ▲ 0.8% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€93,017 | €9,229 | €11,678 | €39,057 | €39,526 | ▲ 1.2% |
| Amounts payable17/49 | €166,466 | €51,646 | €53,811 | €90,306 | €23,030 | ▼ 74.5% |
| Amounts payable within one year42/48 | €166,466 | €51,646 | €53,811 | €90,306 | €23,030 | ▼ 74.5% |
| Trade debts44 | €1,889 | €3,314 | €1,389 | €1,186 | €2,494 | ▲ 110% |
| Suppliers440/4 | €1,889 | €3,314 | €1,389 | €1,186 | €2,494 | ▲ 110% |
| Taxes, remuneration and social security45 | €493 | €33,637 | €34,928 | €6,465 | €1,906 | ▼ 70.5% |
| Taxes450/3 | €493 | €33,637 | €34,928 | €6,465 | €1,906 | ▼ 70.5% |
| Other amounts payable47/48 | €164,084 | €14,695 | €17,493 | €82,655 | €18,629 | ▼ 77.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,402 | €102,246 | €2,449 | €27,379 | €469 | ▼ 98.3% |
| + Depreciation and write-downs630 | €7,234 | - | €850 | €13,621 | €14,782 | ▲ 8.5% |
| Operating cash flow (approximation) | -€3,168 | €102,246 | €3,299 | €41,001 | €15,251 | ▼ 62.8% |
| Investment in fixed assets (approximation) | - | €66,233 | €17,666 | -€76,974 | €0 | ▲ 100% |
| Change in cash | - | €3,452 | €49,404 | €19,483 | -€48,253 | ▼ 348% |
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
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Back to profitnet €102,246
Net result €102,246 after 4 loss-making years.
31-12
Financial
Liquidity times 118current ratio 1.07
Current ratio from 0.01 to 1.07; short-term debt falls from €166,466 to €51,646.
15-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 76 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Ninove · 1 establishment unit since 1993
Ground area
2,299 m²
Building footprint
300 m²
Volume, LiDAR
1,851 m³
2 parcels, Flanders · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FINAS BVBA
since 19932.017.546.253
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41012A0954/00C000 | Flanders | 1,680 m² | 1 · 208 m² | 8.0 m · 2 fl. |
| 41012B0360/00T000 | Flanders | 619 m² | 1 · 92 m² | 11.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 464 EUR awarded · 464 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 232 EUR | 232 EUR |
| 2024 | 1 | 232 EUR | 232 EUR |
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,384. 3,407 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
Founded22-04-1980
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
69209Other tax advisory services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0420535679
Also
9925:BE0420535679
Registered
05-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.