FINEMECA
ActiveSummary
FINEMECA has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€49,308) and a net result of €17,835. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 2083 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+17
Solvency0=
Growth43▼-5
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.41 against 1.86 in 2024; short-term debt: 28.5% and cash: 13.9% of total assets), but equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-51.3%
Return on assets
18.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 2083 sector peers (2025).
NBB · sector comparisonPosition among 2083 sector peers
Solvency
better than 5%
← weakest
strongest →
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 18-07-2026, 13 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
13 d early
2024
43 d early
2023
9 d early
2022
3 d early
2021
3 d early
2020
26 d late
2019
11 d late
← 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 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 23 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#5 oldest company in Walcourt, Construction sector
Turnover
€51,700▼ 30.0%
2024 · €73,834
EBIT margin
48.6%▲ 18.3pp
2024 · 30.3%
Net result
€17,835▲ 72.2%
2024 · €10,358
Working capital
€38,658▲ 35.2%
2024 · €28,585
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€10,502▼ 77.9%€21,558▲ 105%€47,804▲ 122%€73,834▲ 54.5%€51,700▼ 30.0%
Operating result-€31,707▼ 169%-€32,773▼ 3.4%-€2,169▲ 93.4%€22,399€25,132▲ 12.2%
Net result-€37,898below the sector's middle half▼ 110%-€39,148below the sector's middle half▼ 3.3%-€12,706below the sector's middle half▲ 67.5%€10,358within the sector's middle half€17,835within the sector's middle half▲ 72.2%
EBIT margin-301.9%▼ 277.1pp-152.0%▲ 149.9pp-4.5%▲ 147.5pp30.3%▲ 34.9pp48.6%▲ 18.3pp
Equity-€25,647below the sector's middle half-€2,822below the sector's middle half▲ 89.0%-€77,501below the sector's middle half▼ 2,646%-€67,143below the sector's middle half▲ 13.4%-€49,308below the sector's middle half▲ 26.6%
Total assets€112,155below the sector's middle half▼ 24.0%€170,442below the sector's middle half▲ 52.0%€96,220below the sector's middle half▼ 43.5%€98,525below the sector's middle half▲ 2.4%€96,029below the sector's middle half▼ 2.5%
Debt€137,802▲ 1.8%€173,264▲ 25.7%€173,721▲ 0.3%€165,668▼ 4.6%€145,337▼ 12.3%
Working capital€43,507within the sector's middle half▼ 25.1%€109,298within the sector's middle half▲ 151%€27,441within the sector's middle half▼ 74.9%€28,585within the sector's middle half▲ 4.2%€38,658within the sector's middle half▲ 35.2%
Solvency-22.9%below the sector's middle half▼ 31.2pp-1.7%below the sector's middle half▲ 21.2pp-80.5%below the sector's middle half▼ 78.9pp-68.1%below the sector's middle half▲ 12.4pp-51.3%below the sector's middle half▲ 16.8pp
Current ratio3.71above the sector's middle half▲ 0.547.34above the sector's middle half▲ 3.631.84within the sector's middle half▼ 5.501.86within the sector's middle half▲ 0.012.41within the sector's middle half▲ 0.55
Return on assets (ROA)-33.8%below the sector's middle half▼ 21.6pp-23.0%below the sector's middle half▲ 10.8pp-13.2%below the sector's middle half▲ 9.8pp10.5%within the sector's middle half▲ 23.7pp18.6%above the sector's middle half▲ 8.1pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 12% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €96,029
Fixed assets
€29,996 ▼ 18.1%
Current assets
€66,033 ▲ 6.7%
Key figures and ratios
EBITDA
€31,750▲
2024 · €29,345
Cash flow
€24,453▲
2024 · €17,305
Quick ratio
0.52▲
2024 · 0.30
Debt to equity
-2.95▼
2024 · -2.47
Interest coverage
4.35▲
2024 · 2.44
Debt ≤ 1 year
€27,375▼
2024 · €33,324
Debt > 1 year
€117,962▼
2024 · €132,343
Staff costs
€422
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 3,795 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 | €10,502 | €21,558 | €47,804 | €73,834 | €51,700 | ▼ 30.0% |
| Goods, raw materials, services and sundry goods60/61 | €30,980 | €43,729 | €40,795 | €42,964 | €34,981 | ▼ 18.6% |
| Remuneration, social security and pensions62 | - | - | €98 | - | €422 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,669 | €8,687 | €7,620 | €6,947 | €6,618 | ▼ 4.7% |
| Other operating charges640/8 | €1,559 | €1,916 | €1,460 | €1,525 | €4,046 | ▲ 165% |
| Gross operating margin9900 | -€20,479 | -€22,170 | €7,009 | €30,870 | €36,218 | ▲ 17.3% |
| Operating profit (loss)9901 | -€31,707 | -€32,773 | -€2,169 | €22,399 | €25,132 | ▲ 12.2% |
| Financial charges65/66B | €6,191 | €6,375 | €10,537 | €12,040 | €7,297 | ▼ 39.4% |
| Recurring financial charges65 | €6,191 | €6,375 | €10,537 | €12,040 | €7,297 | ▼ 39.4% |
| Profit (loss) for the period before taxes9903 | -€37,898 | -€39,148 | -€12,706 | €10,358 | €17,835 | ▲ 72.2% |
| Profit (loss) for the period9904 | -€37,898 | -€39,148 | -€12,706 | €10,358 | €17,835 | ▲ 72.2% |
| Profit (loss) for the period to be appropriated9905 | -€37,898 | -€39,148 | -€12,706 | €10,358 | €17,835 | ▲ 72.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €112,155 | €170,442 | €96,220 | €98,525 | €96,029 | ▼ 2.5% |
| Formation expenses20 | €555 | €370 | €185 | - | - | - |
| Fixed assets21/28 | €52,041 | €43,540 | €36,104 | €36,615 | €29,996 | ▼ 18.1% |
| Tangible fixed assets22/27 | €51,841 | €43,340 | €35,904 | €36,415 | €29,796 | ▼ 18.2% |
| Land and buildings22 | €11,824 | €11,779 | €11,776 | €17,260 | €16,691 | ▼ 3.3% |
| Plant, machinery and equipment23 | €40,018 | €31,560 | €24,128 | €19,155 | €13,105 | ▼ 31.6% |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €200 | = |
| Current assets29/58 | €59,559 | €126,533 | €59,930 | €61,910 | €66,033 | ▲ 6.7% |
| Stocks and contracts in progress3 | €51,809 | €51,809 | €51,809 | €51,809 | €51,810 | = |
| Stocks30/36 | €51,809 | €51,809 | €51,809 | €51,809 | €51,810 | = |
| Amounts receivable within one year40/41 | €5,962 | €11,274 | €700 | €9,857 | €833 | ▼ 91.6% |
| Trade receivables40 | €272 | €5,971 | €690 | €9,847 | €823 | ▼ 91.6% |
| Other amounts receivable41 | €5,690 | €5,303 | €10 | €10 | €10 | = |
| Current investments50/53 | - | €61,973 | - | - | - | - |
| Cash at bank and in hand54/58 | €1,788 | €1,476 | €7,422 | €243 | €13,390 | ▲ 5,404% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €112,155 | €170,442 | €96,220 | €98,525 | €96,029 | ▼ 2.5% |
| Equity10/15 | -€25,647 | -€2,822 | -€77,501 | -€67,143 | -€49,308 | ▲ 26.6% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | - | €61,973 | - | - | - | - |
| Non-distributable reserves130/1 | - | €61,973 | - | - | - | - |
| Own shares acquired1312 | - | €61,973 | - | - | - | - |
| Profit (loss) carried forward14 | -€87,620 | -€126,769 | -€139,475 | -€129,116 | -€111,281 | ▲ 13.8% |
| Amounts payable17/49 | €137,802 | €173,264 | €173,721 | €165,668 | €145,337 | ▼ 12.3% |
| Amounts payable after more than one year17 | €121,750 | €156,029 | €141,232 | €132,343 | €117,962 | ▼ 10.9% |
| Financial debts170/4 | €121,750 | €156,029 | €141,232 | €132,343 | €117,962 | ▼ 10.9% |
| Amounts payable within one year42/48 | €16,052 | €17,235 | €32,489 | €33,324 | €27,375 | ▼ 17.9% |
| Current portion of amounts payable after more than one year42 | €13,432 | €14,098 | €14,798 | €15,014 | €14,343 | ▼ 4.5% |
| Financial debts43 | €295 | - | - | €2,210 | - | - |
| Credit institutions430/8 | €295 | - | - | €2,210 | - | - |
| Trade debts44 | €2,235 | €1,692 | €3,493 | €4,443 | €3,982 | ▼ 10.4% |
| Suppliers440/4 | €2,235 | €1,692 | €3,493 | €4,443 | €3,982 | ▼ 10.4% |
| Advances received on contracts in progress46 | - | - | - | - | €6,204 | - |
| Taxes, remuneration and social security45 | €0 | €1,445 | €2,541 | €1,634 | €2,846 | ▲ 74.1% |
| Taxes450/3 | €0 | €43 | €511 | €1,634 | €2,846 | ▲ 74.1% |
| Remuneration and social security454/9 | - | €1,402 | €2,031 | - | - | - |
| Other amounts payable47/48 | €90 | - | €11,657 | €10,023 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€37,898 | -€39,148 | -€12,706 | €10,358 | €17,835 | ▲ 72.2% |
| + Depreciation and write-downs630 | €9,669 | €8,687 | €7,620 | €6,947 | €6,618 | ▼ 4.7% |
| Operating cash flow (approximation) | -€28,229 | -€30,462 | -€5,086 | €17,305 | €24,453 | ▲ 41.3% |
| Investment in fixed assets (approximation) | - | -€185 | -€185 | -€7,458 | €1 | ▲ 100% |
| Change in cash | - | -€311 | €5,945 | -€7,178 | €13,147 | ▲ 283% |
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
18-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €10,358
Net result €10,358 after 4 loss-making years.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet -€39,148
Net result drops to -€39,148, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
2020
11-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 11 days late
2019
31-12
Financial
Back to profitnet €27,102
Net result €27,102 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 63 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Walcourt · 1 establishment unit since 1999
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Allée de Linaires(Cha) 25650 Walcourt1 establishment unit
Finemeca
since 19992.059.832.513
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Of 22,827 companies in sector 43211 we hold annual accounts for 10,338. 6,081 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
Founded29-10-1992
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
33190Repair, maintenance and installation of machinery and equipment
43212Electrical installation work in industrial facilities
43240Other construction installation
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448575015
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.