FINEKO
ActiveFrom the official registers: KBO 28 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
FINEKO has been active since 1996 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.5m and a net result of €1.7m. Equity has been growing by about 22% per year since 2018. Its solvency ranks better than 62% of 1,056 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, full format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 30-06-2026
- Format
- full format
- Reference
- 2026-00231778
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 81% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
- 2025 Turnover +76%, Equity +96%, Staff (FTE) +88% on 2024. Merger absorbing Fineko Hasselt, Official Gazette 05-02-2025. Merger absorbing Fineko Leuven, Official Gazette 04-02-2025.
Companies with the same profile, two years later
Historical observationIn July 2024, 1,579 companies had the same profile as FINEKO has now. Two years later, 0.1% had gone bankrupt and 96.7% were still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of FINEKO itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 1,579 companies, not a prediction for FINEKO. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €8.1m | €9.8m | €11.5m | €19.5m | ▲ 68.8% |
| Turnover70 | - | - | - | - | €7.8m | €9.4m | €10.8m | €19.1m | ▲ 75.7% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | - | €0.02m | -€0.09m | €0.04m | -€0.05m | - |
| Other operating income74 | - | - | - | - | €0.3m | €0.5m | €0.7m | €0.5m | ▼ 27.0% |
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | - | - |
| Operating charges60/66A | - | - | - | - | €7.2m | €8.7m | €10.2m | €17.0m | ▲ 67.1% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €2.7m | €0.2m | €0.4m | €0.4m | ▲ 9.2% |
| Purchases600/8 | - | - | - | - | €2.7m | €0.2m | €0.4m | €0.4m | ▲ 9.2% |
| Services and other goods61 | - | - | - | - | €1.3m | €4.7m | €5.2m | €7.9m | ▲ 52.1% |
| Remuneration, social security and pensions62 | - | - | - | €3.2m | €3.0m | €3.5m | €4.5m | €8.0m | ▲ 78.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.6m | ▲ 451% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €70 | -€0.005m | €0.06m | -€0.01m | -€0.02m | ▼ 38.2% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.04m | €0.05m | €0.04m | €0.1m | ▲ 148% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.005m | - |
| Gross operating margin9900 | €3.7m | €4.2m | €4.4m | €4.2m | - | - | - | - | - |
| Operating profit (loss)9901 | €0.7m | €0.8m | €0.9m | €0.8m | €0.9m | €1.1m | €1.4m | €2.5m | ▲ 81.3% |
| Financial income75/76B | - | - | - | €0.07m | €0.09m | €0.005m | €0.3m | €0.03m | ▼ 91.4% |
| Recurring financial income75 | €0.01m | €0.04m | €0.07m | €0.07m | €0.09m | €0.005m | €0.3m | €0.03m | ▼ 91.4% |
| Income from financial fixed assets750 | - | - | - | - | €0.08m | €0 | €0.3m | €0 | ▼ 100% |
| Income from current assets751 | - | - | - | - | €0.01m | €0.005m | €0.02m | €0.03m | ▲ 70.3% |
| Other financial income752/9 | - | - | - | - | €251 | €40 | €48 | €186 | ▲ 291% |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.07m | €0.02m | €0.2m | ▲ 876% |
| Recurring financial charges65 | €0.04m | €0.04m | €0.04m | €0.03m | €0.03m | €0.07m | €0.02m | €0.09m | ▲ 463% |
| Debt charges650 | - | - | - | - | €0.03m | €0.07m | €0.009m | €0.08m | ▲ 813% |
| Other financial charges652/9 | - | - | - | - | €0.003m | €0.002m | €0.007m | €0.007m | ▼ 2.6% |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €0.07m | - |
| Profit (loss) for the period before taxes9903 | €0.6m | €0.8m | €0.9m | €0.9m | €1.0m | €1.0m | €1.7m | €2.4m | ▲ 40.4% |
| Income taxes67/77 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.7m | ▲ 69.1% |
| Taxes670/3 | - | - | - | - | €0.3m | €0.3m | €0.4m | €0.7m | ▲ 69.1% |
| Profit (loss) for the period9904 | €0.4m | €0.5m | €0.7m | €0.6m | €0.7m | €0.7m | €1.3m | €1.7m | ▲ 31.0% |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €0.6m | €0.7m | €0.6m | €0.7m | €0.7m | €1.3m | €1.7m | ▲ 31.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.5m | €3.3m | €3.8m | €3.7m | €3.9m | €4.2m | €6.6m | €9.2m | ▲ 38.9% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €1.2m | €1.1m | €0.9m | €0.8m | €0.7m | €0.6m | €3.3m | €3.6m | ▲ 8.7% |
| Intangible fixed assets21 | €0.5m | €0.4m | €0.3m | €0.2m | €0.1m | €0.009m | €2.3m | €2.1m | ▼ 8.6% |
| Tangible fixed assets22/27 | €0.5m | €0.4m | €0.3m | €0.2m | €0.2m | €0.2m | €0.7m | €1.5m | ▲ 116% |
| Plant, machinery and equipment23 | - | - | - | €0 | - | - | - | €0.007m | - |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.07m | €0.1m | €0.6m | €0.7m | ▲ 26.6% |
| Other tangible fixed assets26 | - | - | - | €0.2m | €0.2m | €0.1m | €0.1m | €0.8m | ▲ 532% |
| Financial fixed assets28 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €380 | ▼ 99.9% |
| Affiliated companies280/1 | - | - | - | - | €0.3m | €0.3m | €0.3m | €0 | ▼ 100% |
| Participating interests280 | - | - | - | - | €0.3m | €0.3m | €0.3m | €0 | ▼ 100% |
| Other financial fixed assets284/8 | - | - | - | - | - | - | - | €380 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | - | - | - | €380 | - |
| Current assets29/58 | €2.3m | €2.2m | €2.9m | €2.9m | €3.2m | €3.6m | €3.3m | €5.6m | ▲ 69.5% |
| Amounts receivable after more than one year29 | - | - | - | €0.04m | €0 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0.04m | €0 | - | - | - | - |
| Stocks and contracts in progress3 | €0.02m | €0.02m | €0.02m | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 10.4% |
| Stocks30/36 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Property held for sale35 | - | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Contracts in progress37 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | ▲ 11.5% |
| Amounts receivable within one year40/41 | €1.5m | €1.5m | €1.7m | €1.7m | €2.0m | €2.7m | €2.6m | €4.7m | ▲ 78.9% |
| Trade receivables40 | - | - | - | €1.6m | €1.9m | €2.5m | €2.2m | €4.6m | ▲ 108% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.08m | €0.2m | €0.4m | €0.1m | ▼ 73.0% |
| Current investments50/53 | €0.04m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.02m | ▼ 35.8% |
| Other investments51/53 | - | - | - | - | €0.03m | €0.03m | €0.03m | €0.02m | ▼ 35.8% |
| Cash at bank and in hand54/58 | €0.5m | €0.4m | €0.7m | €0.7m | €0.7m | €0.5m | €0.2m | €0.3m | ▲ 23.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 85.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.5m | €3.3m | €3.8m | €3.7m | €3.9m | €4.2m | €6.6m | €9.2m | ▲ 38.9% |
| Equity10/15 | €0.8m | €0.9m | €1.0m | €1.0m | €1.7m | €1.0m | €2.3m | €4.5m | ▲ 96.0% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 35.7% |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 35.7% |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 35.7% |
| Reserves13 | €0.6m | €0.7m | €0.9m | €0.9m | €1.6m | €0.9m | €2.2m | €4.3m | ▲ 99.9% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | €0.8m | €1.5m | €0.8m | €2.1m | €4.3m | ▲ 103% |
| Profit (loss) carried forward14 | €0 | - | - | €0 | - | - | - | - | - |
| Provisions and deferred taxes16 | €0.002m | €0 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €2.8m | €2.4m | €2.8m | €2.7m | €2.1m | €3.2m | €4.3m | €4.7m | ▲ 8.3% |
| Amounts payable after more than one year17 | €0.9m | €0.7m | €0.5m | €0.3m | €0.2m | €0 | - | - | - |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0 | - | - | - |
| Credit institutions173 | - | - | - | - | €0.2m | €0 | - | - | - |
| Amounts payable within one year42/48 | €1.8m | €1.7m | €2.2m | €2.3m | €1.9m | €3.0m | €4.2m | €4.5m | ▲ 9.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.006m | €0 | - | - |
| Financial debts43 | - | - | - | €0.4m | €0.4m | €0.06m | €0 | - | - |
| Credit institutions430/8 | - | - | - | €0.4m | €0.4m | €0.06m | €0 | - | - |
| Trade debts44 | €0.3m | €0.3m | €0.5m | €0.7m | €0.8m | €0.8m | €1.3m | €1.8m | ▲ 39.2% |
| Suppliers440/4 | - | - | - | €0.7m | €0.8m | €0.8m | €1.3m | €1.8m | ▲ 39.2% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €0.003m | €0.02m | ▲ 446% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.5m | €0.7m | €0.9m | €2.1m | ▲ 137% |
| Taxes450/3 | - | - | - | €0.1m | €0.2m | €0.3m | €0.3m | €0.6m | ▲ 80.5% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.4m | €0.6m | €1.5m | ▲ 172% |
| Other amounts payable47/48 | - | - | - | €0.6m | €0.06m | €1.4m | €2.0m | €0.7m | ▼ 66.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.08m | €0.07m | €0.2m | €0.2m | €0.1m | ▼ 14.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €0.5m | €0.7m | €0.6m | €0.7m | €0.7m | €1.3m | €1.7m | ▲ 31.0% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.6m | ▲ 451% |
| Operating cash flow (approximation) | €0.6m | €0.8m | €0.9m | €0.7m | €0.8m | €0.9m | €1.4m | €2.3m | ▲ 65.9% |
| Investment in fixed assets (approximation) | - | -€0.05m | -€0.05m | -€0.05m | -€0.07m | -€0.1m | -€2.9m | -€0.9m | ▲ 67.7% |
| Change in cash | - | -€0.07m | €0.3m | -€0.03m | €0.02m | -€0.2m | -€0.3m | €0.05m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-06-2026 | 2026-00231778 | NBB |
| 31-12-2024 | full format | 30-06-2025 | 2025-00197044 | |
| 31-12-2023 | full format | 28-06-2024 | 2024-00176372 | |
| 31-12-2022 | full format | 27-06-2023 | 2023-00186676 | |
| 31-12-2021 | abbreviated format | 08-06-2022 | 2022-20057620 | |
| 31-12-2020 | abbreviated format | 24-06-2021 | 2021-26000301 | |
| 31-12-2019 | abbreviated format | 30-06-2020 | 2020-25200578 | |
| 31-12-2018 | abbreviated format | 14-06-2019 | 2019-19100315 | |
| 31-12-2017 | abbreviated format | 15-06-2018 | 2018-19200440 | |
| 31-12-2016 | abbreviated format | 27-06-2017 | 2017-23100575 |
Comparable companies
These companies have the same main activity as FINEKO: certified accountants and tax accountants (NACE 69201). They are comparable in size and age: total assets between €3.8m and €22m, founded between 1985 and 1996.
| Company | Founded | Total assets | Equity | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| FINEKO Genk | 1996 | €9.2m | €4.5m | €19.1m | €1.7m | 105.2 | 2025 |
| Grant Thornton Accountancy, Tax & Legal Antwerpen | 1990 | €8.2m | €1.5m | €20.5m | €1.2m | 90.6 | 2025 |
| Acs Accountants Ravels | 1989 | €8.1m | €2.3m | €17.2m | €2.6m | 83.4 | 2025 |
| RSM INTERFIDUCIAIRE Zaventem | 1991 | €6.1m | €1.5m | €17.3m | €0.1m | 76.9 | 2025 |
| ERNST & YOUNG FIDUCIAIRE Machelen (Brab.) | 1987 | €8.7m | €2.0m | €14.3m | €0.1m | 67.8 | 2025 |
| VAN HAVERMAET Hasselt | 1985 | €21.8m | €8.7m | €24.7m | €1.1m | 137.5 | 2025 |
| SOCIETE FIDUCIAIRE NATIONALE D'EXPERTISE COMPTABLE Elsene | 1996 | €3.8m | €0.1m | €9.4m | €0.01m | 64.9 | 2025 |
They were chosen from the 7,241 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Subsidies and aid
Flemish government
2022 to 2025 · 11 entries · €57,572 awarded · €58,406 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €25,180 | €25,180 |
| 2024 | 2 | €7,896 | €7,984 |
| 2023 | 3 | €2,676 | €6,415 |
| 2022 | 4 | €21,820 | €18,827 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.