FINER
ActiveSummary
FINER has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€41,687) and a net result of -€13,122. Equity has been shrinking by about 53% per year since 2019. The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 28-02-1991 Normal situation
- Activity
- “De aan- en verkoop van alle roerende waarden en rechten, daaronder begrepen obligaties, kasbons…” (deed in Dutch)From the articles, 6 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.052.755.669 9800 Deinze, since 13-05-1991
- Financial year end
- 30 June
- Peppol
- Reachable since 06-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.6%
Annual accounts to 30-06-2025
- Gross margin
- €4,532
- Turnover
- ≈ €35,000
- estimated
- Loss
- €13,122
- ▼ 24.0%
- Equity
- -€41,687
- ▼ 45.9%
- Total assets
- €177,041
- ▼ 7.7%
- Negative equity on 30-06-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€41,687Loss of €13,122, the second in a row (financial year 2025)lowers riskSize: total assets €177,041Founded in 1991Show the evidence
Checked score
Score 2025
53
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 16% of micro companies without a NACE code
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency
1-9
equity -23.5% of total assets
Liquidity
0=
short-term debt 123.5% · cash 0.3%
Profitability
59+52
return on assets -7.4%
Bankruptcy probability within 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.9%▲ +0.2 percentage points vs 12-2024highest value
02-2025: 0.8%▼ -0.1 percentage points vs 01-2025
03-2025: 0.8%● unchanged vs 02-2025
04-2025: 0.8%● unchanged vs 03-2025
05-2025: 0.8%● unchanged vs 04-2025
06-2025: 0.8%● unchanged vs 05-2025
07-2025: 0.8%● unchanged vs 06-2025
08-2025: 0.8%● unchanged vs 07-2025
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 0.6%▼ -0.2 percentage points vs 09-2025lowest value
11-2025: 0.6%● unchanged vs 10-2025lowest value
12-2025: 0.6%● unchanged vs 11-2025lowest value
01-2026: 0.6%● unchanged vs 12-2025lowest value
02-2026: 0.6%● unchanged vs 01-2026lowest value
03-2026: 0.6%● unchanged vs 02-2026lowest value
04-2026: 0.6%● unchanged vs 03-2026lowest value
05-2026: 0.6%● unchanged vs 04-2026lowest value
06-2026: 0.6%● unchanged vs 05-2026lowest value
07-2026: 0.6%● unchanged vs 06-2026lowest value
08-2026: 0.6%● unchanged vs 07-2026lowest value
09-2026: 0.6%● unchanged vs 08-2026lowest value
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
No credit on open account
Liquidity is insufficient, with a current ratio of 0.0 (0.0 in 2024), below 1. Short-term debt is 123.5% and cash 0.3% of total assets. Equity is negative.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 10% of them on solvency, 3% on liquidity, 40% on profitability and 10% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
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.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€41,687
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 18-09-2025, 135 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
135 days early
2024
4 days early
2023
20 days early
2022
119 days early
2021
28 days early
2020
20 days early
2019
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 51 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 3 January (4 of the last 5 accounts filed within 91 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end04-11-2026 today31-01-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 18-09-2025 PDF all 34 filings
Turnover
≈ €35,000
Estimated: probably between €16,000 and €83,000
Total assets
€177,041▼ 7.7%
2024 · €191,776
Net result
-€13,122▲ 24.0%
2024 · -€17,265
Working capital
-€218,138▲ 0.9%
2024 · -€220,094
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€12,671
▲ 24.8%
2025
20192025
Net result
-€13,122
▲ 24.0%
2025
20192025
Equity
-€41,687
▼ 45.9%
2025
20192025
Total assets
€177,041
▼ 7.7%
2025
20192025
Debt
€218,728
▼ 0.7%
2025
20192025
Working capital
-€218,138
▲ 0.9%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€593--€3,035-€14,404▼ 375%-€13,364▲ 7.2%-€16,756▼ 25.4%-€16,847▼ 0.5%-€12,671▲ 24.8%
Net result€314--€3,286-€14,780▼ 350%-€13,840▲ 6.4%-€17,226▼ 24.5%-€17,265▼ 0.2%-€13,122▲ 24.0%
Equity€37,833-€34,547▼ 8.7%€19,767▼ 42.8%€5,927▼ 70.0%-€11,299-€28,564▼ 153%-€41,687▼ 45.9%
Total assets€230,465-€245,919▲ 6.7%€230,961▼ 6.1%€216,277▼ 6.4%€201,389▼ 6.9%€191,776▼ 4.8%€177,041▼ 7.7%
Debt€192,631-€211,371▲ 9.7%€211,194▼ 0.1%€210,350▼ 0.4%€212,688▲ 1.1%€220,341▲ 3.6%€218,728▼ 0.7%
Working capital-€190,410--€210,421▼ 10.5%-€210,471=-€209,582▲ 0.4%-€212,019▼ 1.2%-€220,094▼ 3.8%-€218,138▲ 0.9%
The operating result for 2025 is a loss of €12,671, smaller than the loss of €16,847 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €177,041
Fixed assets
€176,595 ▼ 7.8%
Current assets
€446 ▲ 80.5%
Equity and liabilities
Equity-€41,687
Debt€218,728
Equity is negative. Debt (€218,728) exceeds the balance-sheet total (€177,041).
Key figures and ratios
EBITDA
€2,264▲
2024 · -€2,577
Cash flow
€1,812▲
2024 · -€2,995
Solvency
-23.5%▼
2024 · -14.9%
Current ratio
0.00▲
2024 · 0.00
ROA
-7.4%▲
2024 · -9.0%
Interest coverage
8.83▲
2024 · -11.57
Debt ≤ 1 year
€218,584▼
2024 · €220,341
Income taxes
€196▲
2024 · €195
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €5,080 | - |
| Depreciation and write-downs of the year | €14,730 | €14,789 | €14,270 | €14,934 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,700 | €10,252 | €14,730 | €14,730 | €14,789 | €14,270 | €14,934 | ▲ 4.7% |
| Other operating charges640/8 | - | - | - | €2,011 | €2,009 | €2,188 | €2,269 | ▲ 3.7% |
| Gross operating margin9900 | €12,128 | €8,979 | €2,837 | €3,377 | €41 | -€389 | €4,532 | - |
| Operating profit (loss)9901 | €593 | -€3,035 | -€14,404 | -€13,364 | -€16,756 | -€16,847 | -€12,671 | ▲ 24.8% |
| Financial charges65/66B | - | - | - | €294 | €276 | €223 | €256 | ▲ 15.0% |
| Recurring financial charges65 | €279 | €232 | €209 | €294 | €276 | €223 | €256 | ▲ 15.0% |
| Profit (loss) for the period before taxes9903 | €314 | -€3,267 | -€14,613 | -€13,658 | -€17,032 | -€17,070 | -€12,927 | ▲ 24.3% |
| Income taxes67/77 | - | €19 | €167 | €182 | €194 | €195 | €196 | ▲ 0.1% |
| Profit (loss) for the period9904 | €314 | -€3,286 | -€14,780 | -€13,840 | -€17,226 | -€17,265 | -€13,122 | ▲ 24.0% |
| Profit (loss) for the period to be appropriated9905 | €314 | -€3,286 | -€14,780 | -€13,840 | -€17,226 | -€17,265 | -€13,122 | ▲ 24.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €230,465 | €245,919 | €230,961 | €216,277 | €201,389 | €191,776 | €177,041 | ▼ 7.7% |
| Fixed assets21/28 | €229,344 | €244,968 | €230,238 | €215,508 | €200,719 | €191,529 | €176,595 | ▼ 7.8% |
| Tangible fixed assets22/27 | €229,344 | €244,968 | €230,238 | €215,508 | €200,719 | €191,529 | €176,595 | ▼ 7.8% |
| Land and buildings22 | - | - | - | €201,262 | €191,357 | €187,052 | €176,595 | ▼ 5.6% |
| Furniture and vehicles24 | - | - | - | €14,246 | €9,362 | €4,477 | €0 | ▼ 100% |
| Current assets29/58 | €1,121 | €951 | €723 | €768 | €670 | €247 | €446 | ▲ 80.5% |
| Cash at bank and in hand54/58 | €669 | €846 | €617 | €657 | €670 | €247 | €446 | ▲ 80.5% |
| Deferred charges and accrued income490/1 | - | - | - | €111 | €0 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €230,465 | €245,919 | €230,961 | €216,277 | €201,389 | €191,776 | €177,041 | ▼ 7.7% |
| Equity10/15 | €37,833 | €34,547 | €19,767 | €5,927 | -€11,299 | -€28,564 | -€41,687 | ▼ 45.9% |
| Contributions10/11 | €31,235 | - | - | €31,235 | €31,235 | €31,235 | €31,235 | = |
| Reserves13 | €3,123 | €3,123 | €3,123 | €3,123 | €3,123 | €3,123 | €3,123 | = |
| Non-distributable reserves130/1 | - | - | - | €3,123 | €3,123 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €3,123 | €3,123 | €0 | - | - |
| Distributable reserves133 | - | - | - | - | - | €3,123 | €3,123 | = |
| Profit (loss) carried forward14 | €3,475 | €189 | -€14,591 | -€28,431 | -€45,658 | -€62,922 | -€76,045 | ▼ 20.9% |
| Amounts payable17/49 | €192,631 | €211,371 | €211,194 | €210,350 | €212,688 | €220,341 | €218,728 | ▼ 0.7% |
| Amounts payable within one year42/48 | €191,531 | €211,371 | €211,194 | €210,350 | €212,688 | €220,341 | €218,584 | ▼ 0.8% |
| Trade debts44 | €2,263 | €26,951 | €1,853 | €2,317 | €7,188 | €5,850 | €2,008 | ▼ 65.7% |
| Suppliers440/4 | - | - | - | €2,317 | €7,188 | €5,850 | €2,008 | ▼ 65.7% |
| Taxes, remuneration and social security45 | - | - | - | €182 | €194 | €195 | €196 | ▲ 0.1% |
| Taxes450/3 | - | - | - | €182 | €194 | €195 | €196 | ▲ 0.1% |
| Other amounts payable47/48 | - | - | - | €207,851 | €205,306 | €214,295 | €216,380 | ▲ 1.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €144 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €314 | -€3,286 | -€14,780 | -€13,840 | -€17,226 | -€17,265 | -€13,122 | ▲ 24.0% |
| + Depreciation and write-downs630 | €9,700 | €10,252 | €14,730 | €14,730 | €14,789 | €14,270 | €14,934 | ▲ 4.7% |
| Operating cash flow (approximation) | €10,014 | €6,966 | -€50 | €889 | -€2,437 | -€2,995 | €1,812 | - |
| Investment in fixed assets (approximation) | - | -€25,877 | €0 | €0 | €0 | -€5,080 | €0 | - |
| Change in cash | - | €176 | -€228 | €39 | €13 | -€423 | €199 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,796 companies had the same profile as FINER has now. Two years later, 90.4% were still going and 2.1% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a small loss
90.4%
was still going
6.0%
stopped otherwise
2.1%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FINER itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,796 companies, not a prediction for FINER. 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.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 18-09-2025 | 2025-00495765 | |
| 30-06-2024 | micro format | 27-01-2025 | 2025-00012161 | |
| 30-06-2023 | micro format | 11-01-2024 | 2024-00001501 | |
| 30-06-2022 | micro format | 04-10-2022 | 2022-20454091 | |
| 30-06-2021 | micro format | 03-01-2022 | 2022-00100566 | |
| 30-06-2020 | micro format | 11-01-2021 | 2021-00900319 | |
| 30-06-2019 | micro format | 02-01-2020 | 2020-00200078 | |
| 30-06-2018 | micro format | 04-01-2019 | 2019-00300045 | |
| 30-06-2017 | micro format | 05-01-2018 | 2018-00200489 | |
| 30-06-2016 | abbreviated format | 18-01-2017 | 2017-01300473 |
Board & ownership
Directors
Directors
1 director, no change since 2024
Joan Eerdekens
Current
Director (not named in the articles) · appointed in the act of 25-01-2024 · earlier manager, until 25-01-2024 · listed in the 2025 annual accounts, filed on 18-09-2025
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 25-01-2024Owners and capital
Capital transactions
Capital over time
- 25-01-2024 Converted to unavailable equity · €34,358.04
Mandate history
1 person, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Joan Eerdekens |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1, algemene vergadering”
Articles of association, deed of 25-01-2024 (in Dutch)
Network & group
FINER shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of FINER. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2025
2024
30-06
Financial
Weakest financial yearnet -€17,265
The net result drops to -€17,265, the lowest from 2019 to 2025. It recovers the following year.
25-01
Gazette deed
Change of role: Joan Eerdekens, from manager to directorAmendment of the articles · Capital conversion · Reserve release12 points ▸
Gazette deed
Change of role: Joan Eerdekens, from manager to director
Amendment of the articles · Capital conversion · Reserve release12 points ▸
- General meeting, 26-12-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing statutair onbeschikbare eigen vermogensrekening, vormen en meerderheden statutenwijziging” (deed in Dutch)
- Kind of shares, “inbrengen, gelijk recht in winstverdeling” (deed in Dutch)
- Director resignation, Joan Eerdekens (manager)
- Director appointment, Joan Eerdekens (director (not named in the articles))
- Director discharge, Joan Eerdekens
- Registered office clause, “Dr.Adriaan Martenslaan 33,9800 Deinze” (deed in Dutch)
- Power of attorney
- Power of attorney, Steven Verbist
- Other provision, “stemming besluiten, eenparigheid van stemmen” (deed in Dutch)
11-01
micro format · 20 days before the deadline
2022
2021
11-01
micro format · 20 days before the deadline
2020
02-01
micro format · 29 days before the deadline
2019
04-01
micro format · 27 days before the deadline
2018
05-01
micro format · 26 days before the deadline
2017
18-01
abbreviated format · 13 days before the deadline
1991
16-03
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
FINER in Dutch
Enterprise number
0443.393.136
Legal form
Private limited company
Status
Active, normale toestand
Founded
28-02-1991
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 25-01-2024 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, bij enkel besluit bestuursorgaan vestigen administratieve zetels,agentschappen,werkhuizen,stapelplaatsen,bijkantoren in…”
deed of 25-01-2024 (in Dutch)Registered office and establishments
Registered office
Dr.Adriaan Martenslaan 33, 9800 Deinze, Belgium
Establishment unit
FINER BVBA, Dr.Adriaan Martenslaan 33, 9800 Deinze since 13-05-1991 · unit number 2.052.755.66968201 Renting and operating of own or leased residential real estate, excluding social housing
Activities
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 25-01-2024 (in Dutch)
“De aan- en verkoop van alle roerende waarden en rechten, daaronder begrepen obligaties, kasbons, aandelen, deelbewijzen…”
6 activities
- De aan- en verkoop van alle roerende waarden en rechten, daaronder begrepen obligaties, kasbons, aandelen, deelbewijzen, beleggingscertficaten, vastgoedcertificaten, enzovoort.
- De deelname in alle vennootschappen, ondernemingen en/of verenigingen.
- Het innen en herbeleggen van de inkomsten die bovenvermelde roerende waarden en rechten voortbrengen.
- Het bestuur in het algemeen op alle niveaus zowel voor eigen rekening als voor rekening van en in deelneming met derden van de portefeuille van bovenvermelde roerende waarden en rechten.
- De aan- en verkoop, beheer en verhuur van alle onroerende goederen en/of rechten en alle daarmee verband houdende verrichtingen (evenals het waarnemen van het beheer op alle niveaus zowel voor eigen rekening als voor rekening van en in deelneming met derden van handels-, nijverheids of andere ondernemingen, bestaande onder om het even welke vorm, en welke beheerstaak aan geen enkele beperking onderhevig is of zal zijn.
- De vennootschap mag alle handels-, nijverheids- en financiële, roerende on onroerende verrichtingen doen, die rechtstreeks of onrechtstreeks geheel of gedeeltelijk verwant zijn met haar voorwerp en die van aard zijn dat zij de verwezenlijking ervan vergemakkelijken of ontwikkelen, dit alles in de ruimste zin van het woord.
Invoicing and payment
VAT number
BE 0443.393.136
Financial year and general meeting
Accounts at the NBBFinancial year end
30-06
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of December at 10:00
deed of 25-01-2024 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
1,853 m²
Building footprint
260 m²
Building volume
1,124 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44004C0105/00K000 | Flanders | 1,853 m² | 1 · 260 m² | 8.4 m · 1 |