Finastra
ActiveSummary
Finastra has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.5m and a net result of -€178,374. Equity is growing by ~13.8% per year across the filed fiscal years. Its solvency ranks better than 41% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability23▼-12
Solvency67▼-7
Growth61▲+4
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity short (current ratio 0.47 against 3.93 in 2024; short-term debt: 21.8% and cash: 0.2% of total assets), and 57.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
42.3%
Return on assets
-2.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€178,374
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
104 d early
2023
35 d early
2022
56 d early
2021
81 d early
2020
149 d early
2019
137 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 83 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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, full schema
Turnover
€1.2m▲ 35.1%
2024 · €892,084
EBIT margin
-2.0%▼ 7.5pp
2024 · 5.5%
Net result
-€178,374▼ 12.4%
2024 · -€158,733
Working capital
-€951,917
2024 · €428,338
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line20212022202320242025
Turnover€1.1m▲ 1.1%€717,506▼ 35.6%€978,217▲ 36.3%€892,084▼ 8.8%€1.2m▲ 35.1%
Operating result€452,018▲ 5.4%€107,000▼ 76.3%€27,950▼ 73.9%€48,946▲ 75.1%-€23,864
Net result€355,296above the sector's middle half▼ 73.4%€69,806within the sector's middle half▼ 80.4%-€119,549below the sector's middle half-€158,733below the sector's middle half▼ 32.8%-€178,374below the sector's middle half▼ 12.4%
EBIT margin40.6%▲ 1.7pp14.9%▼ 25.7pp2.9%▼ 12.1pp5.5%▲ 2.6pp-2.0%▼ 7.5pp
Equity€1.4mabove the sector's middle half▼ 14.5%€1.4mabove the sector's middle half▼ 1.8%€1.3mwithin the sector's middle half▼ 8.4%€3.6mabove the sector's middle half▲ 180%€3.5mwithin the sector's middle half▼ 4.9%
Total assets€4.6mabove the sector's middle half▲ 5.3%€4.7mabove the sector's middle half▲ 2.0%€5.4mabove the sector's middle half▲ 13.8%€7.5mabove the sector's middle half▲ 38.9%€8.2mwithin the sector's middle half▲ 9.5%
Debt€3.2m▲ 17.7%€3.3m▲ 3.6%€4.1m▲ 23.3%€3.8m▼ 6.0%€4.7m▲ 23.2%
Working capital€228,889▲ 594%€144,005▼ 37.1%€491,045▲ 241%€428,338▼ 12.8%-€951,917
Solvency31.1%within the sector's middle half▼ 7.2pp30.0%within the sector's middle half▼ 1.1pp24.1%below the sector's middle half▼ 5.8pp48.7%within the sector's middle half▲ 24.5pp42.3%within the sector's middle half▼ 6.4pp
Staff (FTE)5.7within the sector's middle half▲ 1.8%5above the sector's middle half▼ 12.3%7.2above the sector's middle half▲ 44.0%6.1above the sector's middle half▼ 15.3%5.8within the sector's middle half▼ 4.9%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €23,864 after €48,946 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.2m
Fixed assets
€7.4m ▲ 6.5%
Current assets
€836,452 ▲ 45.6%
Equity and liabilities €8.2m
Equity
€3.5m ▼ 4.9%
Debt
€4.7m ▲ 23.2%
Debt's share of the balance-sheet total rises from 51.3% to 57.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€38,895▼
2024 · €98,363
Cash flow
-€115,616▼
2024 · -€109,316
Current ratio
0.47▼
2024 · 3.93
Quick ratio
0.46▼
2024 · 3.87
Debt to equity
1.37▲
2024 · 1.05
ROE
-5.2%▼
2024 · -4.4%
ROA
-2.2%▼
2024 · -2.1%
Interest coverage
0.24▼
2024 · 0.43
Debt ≤ 1 year
€1.8m▲
2024 · €145,975
Debt > 1 year
€2.9m▼
2024 · €3.7m
Income taxes
€719▲
2024 · -€14,186
Staff costs
€436,654▼
2024 · €456,126
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.1m | €717,506 | €978,217 | €892,084 | €1.2m | ▲ 35.1% |
| Non-recurring operating income76A | - | - | - | - | €31,250 | - |
| Goods, raw materials, services and sundry goods60/61 | €233,560 | €276,988 | €424,443 | €337,608 | €764,243 | ▲ 126% |
| Remuneration, social security and pensions62 | €368,396 | €274,859 | €483,725 | €456,126 | €436,654 | ▼ 4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60,734 | €59,535 | €42,978 | €49,417 | €62,759 | ▲ 27.0% |
| Other operating charges640/8 | €1,063 | €1,065 | €1,152 | €1,324 | €5,427 | ▲ 310% |
| Non-recurring operating charges66A | - | - | - | €428 | €0 | ▼ 100% |
| Gross operating margin9900 | €882,211 | €442,459 | €555,805 | €556,241 | €480,976 | ▼ 13.5% |
| Operating profit (loss)9901 | €452,018 | €107,000 | €27,950 | €48,946 | -€23,864 | ▼ 149% |
| Financial income75/76B | €70,846 | €50,333 | €14,122 | €5,431 | €8,400 | ▲ 54.7% |
| Recurring financial income75 | €70,846 | €403 | €14,122 | €5,431 | €8,400 | ▲ 54.7% |
| Non-recurring financial income76B | - | €49,930 | - | - | - | - |
| Financial charges65/66B | €66,312 | €72,124 | €159,123 | €227,295 | €162,192 | ▼ 28.6% |
| Recurring financial charges65 | €66,312 | €72,124 | €159,123 | €227,295 | €162,192 | ▼ 28.6% |
| Profit (loss) for the period before taxes9903 | €456,552 | €85,209 | -€117,050 | -€172,919 | -€177,655 | ▼ 2.7% |
| Income taxes67/77 | €101,256 | €15,403 | €2,499 | -€14,186 | €719 | ▲ 105% |
| Profit (loss) for the period9904 | €355,296 | €69,806 | -€119,549 | -€158,733 | -€178,374 | ▼ 12.4% |
| Profit (loss) for the period to be appropriated9905 | €355,296 | €69,806 | -€119,549 | -€158,733 | -€178,374 | ▼ 12.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.6m | €4.7m | €5.4m | €7.5m | €8.2m | ▲ 9.5% |
| Fixed assets21/28 | €4.3m | €4.3m | €4.7m | €6.9m | €7.4m | ▲ 6.5% |
| Intangible fixed assets21 | €15,962 | €6,943 | €6,228 | €54,225 | €70,407 | ▲ 29.8% |
| Tangible fixed assets22/27 | €136,320 | €134,573 | €113,699 | €104,025 | €111,724 | ▲ 7.4% |
| Plant, machinery and equipment23 | - | €30,885 | €26,308 | €21,731 | €17,154 | ▼ 21.1% |
| Furniture and vehicles24 | €136,320 | €103,688 | €87,391 | €82,294 | €94,570 | ▲ 14.9% |
| Financial fixed assets28 | €4.1m | €4.2m | €4.6m | €6.7m | €7.2m | ▲ 6.3% |
| Current assets29/58 | €364,234 | €415,933 | €658,741 | €574,313 | €836,452 | ▲ 45.6% |
| Stocks and contracts in progress3 | - | - | - | €9,638 | €9,638 | = |
| Stocks30/36 | - | - | - | €9,638 | €9,638 | = |
| Amounts receivable within one year40/41 | €250,989 | €319,433 | €588,563 | €492,396 | €746,000 | ▲ 51.5% |
| Trade receivables40 | €197,727 | €35,205 | €112,936 | €1,210 | €134,814 | ▲ 11,042% |
| Other amounts receivable41 | €53,262 | €284,228 | €475,626 | €491,186 | €611,186 | ▲ 24.4% |
| Current investments50/53 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Cash at bank and in hand54/58 | €63,198 | €45,960 | €18,303 | €13,460 | €19,684 | ▲ 46.2% |
| Deferred charges and accrued income490/1 | €47 | €540 | €1,875 | €8,820 | €11,131 | ▲ 26.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.6m | €4.7m | €5.4m | €7.5m | €8.2m | ▲ 9.5% |
| Equity10/15 | €1.4m | €1.4m | €1.3m | €3.6m | €3.5m | ▼ 4.9% |
| Contributions10/11 | €500,000 | €500,000 | €500,000 | €3.0m | €3.0m | = |
| Capital10 | €500,000 | €500,000 | €500,000 | €3.0m | €3.0m | = |
| Issued capital100 | €500,000 | €500,000 | €500,000 | €3.0m | €3.0m | = |
| Reserves13 | €945,525 | €919,806 | €800,257 | €641,524 | €463,149 | ▼ 27.8% |
| Non-distributable reserves130/1 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Legal reserve130 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Distributable reserves133 | €895,525 | €869,806 | €750,257 | €591,524 | €413,149 | ▼ 30.2% |
| Amounts payable17/49 | €3.2m | €3.3m | €4.1m | €3.8m | €4.7m | ▲ 23.2% |
| Amounts payable after more than one year17 | €3.1m | €3.0m | €3.9m | €3.7m | €2.9m | ▼ 20.3% |
| Other amounts payable178/9 | €3.1m | €3.0m | €3.9m | €3.7m | €2.9m | ▼ 20.3% |
| Amounts payable within one year42/48 | €135,345 | €271,928 | €167,696 | €145,975 | €1.8m | ▲ 1,125% |
| Trade debts44 | €77,054 | €244,458 | €97,928 | €86,551 | €110,916 | ▲ 28.2% |
| Suppliers440/4 | €77,054 | €244,458 | €97,928 | €86,551 | €110,916 | ▲ 28.2% |
| Taxes, remuneration and social security45 | €58,291 | €27,471 | €59,768 | €59,423 | €74,453 | ▲ 25.3% |
| Taxes450/3 | €17,339 | €385 | €12,017 | €8,930 | €18,527 | ▲ 107% |
| Remuneration and social security454/9 | €40,951 | €27,086 | €47,752 | €50,493 | €55,926 | ▲ 10.8% |
| Other amounts payable47/48 | - | - | €10,000 | €0 | €1.6m | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €355,296 | €69,806 | -€119,549 | -€158,733 | -€178,374 | ▼ 12.4% |
| + Depreciation and write-downs630 | €60,734 | €59,535 | €42,978 | €49,417 | €62,759 | ▲ 27.0% |
| Operating cash flow (approximation) | €416,029 | €129,341 | -€76,571 | -€109,316 | -€115,616 | ▼ 5.8% |
| Investment in fixed assets (approximation) | - | -€98,699 | -€451,389 | -€2.2m | -€513,989 | ▲ 76.9% |
| Change in cash | - | -€17,238 | -€27,657 | -€4,844 | €6,224 | ▲ 229% |
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
22-09
State Gazette act
Resignation: Fernando Ungaro (director)2 facts ▸
State Gazette act
Resignation: Fernando Ungaro (director)
2 facts ▸
- General meeting, 19-09-2026
- Director resignation, Fernando Ungaro (director)
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€178,374
Net result drops to -€178,374, the lowest in the series.
18-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €2mEq €3.6m ▲180%
Equity rises from €1.3m to €3.6m.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity triplescurrent ratio 3.93
Current ratio from 1.53 to 3.93; short-term debt falls from €271,928 to €167,696.
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
11-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity doublescurrent ratio 2.69
Current ratio from 1.27 to 2.69.
04-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €1.3m ▲821%
Net result €1.3m, the highest in the series.
Show earlier events
16-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
13-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 13 acts read
About the unread acts
Of the 13 Belgian State Gazette acts we know for this company, 1 has been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
12 of this company's 13 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Lokeren · 1 establishment unit since 1992
Ground area
1.3 ha
Building footprint
1.1 ha
Volume, LiDAR
96,468 m³
Parcel 46014A0522/00K002, Flanders · tallest building 14.3 m, ±3 floors. Linked by address, not a title deed.
16
companies at this address
See who is registered here
1 establishment unit
FINASTRA NV
since 19922.056.650.022
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A0522/00K002 | Flanders | 1.3 ha | 1 · 1.1 ha | 14.3 m · 3 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.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Fernando Ungaro |
|
Structure & network
Part of the group
MATRAFOAM
10 companies
Group, risk and exposure
Owners and holdings
1 owner · 5 holdingsChain of control
- MATRAFOAM
- Finastra
Highest known parent: MATRAFOAM. The sources do not say who stands above it.
Owners 1
- MATRAFOAMparentSourceaccounts MATRAFOAM 2025100%
Holdings 5
-
100%
-
100%
-
100%
-
100%
-
100%
According to the 2025 annual accounts of Finastra and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 264 EUR awarded · 223 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 220 EUR | 179 EUR |
| 2022 | 1 | 44 EUR | 44 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 14,489 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-01-1992
Fiscal year end31-12
Activities, NACEBEL 2025
69209Other tax advisory services
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446540686
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.