Checked.be
Active
BE 0837.687.050Private limited company
FINGRAY
Ballewijerweg 71 ·3520 Zonhoven, Belgium· 15 yrs active
Sector: Business and other management consultancy
(70200)
Conclusion
FINGRAY has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €422k and a net result of €52k. Equity is growing by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 94% of 37979 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €422k |
| Net result | €52k |
| Staff (FTE) | 1 |
| Better than sector | 94% |
Financial profile
88
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
61
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2011, 15 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€40k
estimate, not credit advice
Score history
75
2020
100
2021
93
2022
86
2023
100
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 11.08 (≥ 1.5)
+10
Quick ratio
Quick ratio 11.08 (≥ 1.0)
+5
Leverage
Debt/equity 0.05 (< 1.0)
+10
Profitability
ROE 12% (≥ 10%)
+10
Interest coverage
Interest coverage 275.0× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-06-2025 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~36% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 94.9% | 58.2% | |
| Net result | €52k | €26k | |
| Equity | €422k | €90k | |
| Gross operating margin | €102k | €52k | |
| Staff costs | €9k | €16k |
€91k
+14.4%
20-24
€52k
+145.7%
20-24
€70k
+19.1%
20-24
€445k
+7.7%
20-24
€422k
+13.4%
20-24
€220k
+45.1%
20-24
1
0.0%
20-24
€9k
-31.3%
20-24
€21k
+5.1%
20-24
€2k
+12.5%
20-24
€23k
-44.0%
20-24
€22k
-45.5%
20-24
11.08
+131.5%
20-24
11.08
+131.5%
20-24
94.9%
+5.2%
20-24
0.05
-50.6%
20-24
12.2%
+116.7%
20-24
11.6%
+128.1%
20-24
275.03
+155.0%
20-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €91k | €79k | €77k | €107k | €64k |
| Net profit | €52k | €21k | €36k | €71k | €34k |
| Cash flow | €70k | €59k | €62k | €92k | €54k |
| Staff costs | €9k | €13k | €9k | €4k | - |
| Income taxes | €21k | €20k | €14k | €14k | €10k |
| Dividends | €2k | €2k | €2k | €2k | €2k |
| Total assets | €445k | €413k | €402k | €369k | €266k |
| Equity | €422k | €372k | €353k | €319k | €249k |
| Debt | €23k | €41k | €50k | €50k | €17k |
| of which ≤ 1y | €22k | €40k | €50k | €50k | €17k |
| of which > 1y | - | - | - | - | - |
| Working capital | €220k | €152k | €98k | €106k | €190k |
| Employees (FTE) | 1.0 | 1.0 | 1.0 | 0.5 | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Current ratio | 11.08 | 4.79 | 2.96 | 3.12 | 12.04 |
| Quick ratio | 11.08 | 4.79 | 2.96 | 3.12 | 12.04 |
| Working capital ratio | 49.5% | 36.7% | 24.2% | 28.7% | 71.3% |
| Solvency | 94.9% | 90.1% | 87.6% | 86.5% | 93.5% |
| Debt / equity | 0.05 | 0.11 | 0.14 | 0.16 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 275.03 | 107.85 | 70.99 | 409.34 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 11.6% | 5.1% | 8.9% | 19.3% | 12.8% |
| ROE | 12.2% | 5.6% | 10.1% | 22.3% | 13.7% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €445k | €413k | €402k | €369k | €266k |
| Fixed assets | 21/28 | €203k | €221k | €255k | €213k | €59k |
| Tangible fixed assets | 22/27 | €203k | €221k | €255k | €213k | €59k |
| Current assets | 29/58 | €242k | €192k | €147k | €156k | €207k |
| Amounts receivable within one year | 40/41 | €25k | €22k | €31k | €29k | €23k |
| Investments | 50/53 | €67k | €66k | €66k | €66k | €66k |
| Cash & bank | 54/58 | €146k | €103k | €47k | €57k | €115k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €445k | €413k | €402k | €369k | €266k |
| Equity | 10/15 | €422k | €372k | €353k | €319k | €249k |
| Contributions / capital | 10/11 | €6k | €6k | €6k | €6k | - |
| Reserves | 13 | €416k | €366k | €347k | €312k | €243k |
| Amounts payable | 17/49 | €23k | €41k | €50k | €50k | €17k |
| Amounts payable within one year | 42/48 | €22k | €40k | €50k | €50k | €17k |
| Trade debts payable within one year | 44 | €5k | €5k | €15k | €6k | €2k |
| Income statement | ||||||
| Gross operating margin | 9900 | €102k | €95k | €88k | €130k | €66k |
| Operating result | 9901 | €72k | €42k | €50k | €86k | €44k |
| Financial income | 75 | €722 | €313 | €3 | €0 | €0 |
| Financial charges | 65 | €330 | €735 | €1k | €261 | €182 |
| Result before taxes | 9903 | €73k | €41k | €49k | €85k | €44k |
| Income taxes | 67/77 | €21k | €20k | €14k | €14k | €10k |
| Net result for the period | 9904 | €52k | €21k | €36k | €71k | €34k |
| Result to be appropriated | 9905 | €52k | €21k | €36k | €71k | €34k |
Legal Structure
| NACE primary | Business and other management consultancy(70200) |
| Legal form | Private limited company(610) |
| Incorporation | 07-07-2011 |
| Status | Active |
| Postal code | 3520 |
Establishment units
FINGRAY
since 20112.200.354.235
de Katmosfeer
since 20212.323.604.514
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71443E0450/00A000 | Flanders | 1,277 m² | 1 · 134 m² | 9.5 m · 2 fl. |
| 71443F0033/00T000 | Flanders | 334 m² | 1 · 232 m² | 13.8 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity doublescurrent ratio 11.08
Current ratio from 4.79 to 11.08; short-term debt falls from €40k to €22k.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €21k ▼41.2%
Net result drops to €21k, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2020net €71k ▲109%
Operating result €86k, net result €71k, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Business and other management consultancy70200Business consulting70220Pet care services, excluding veterinary services96993
Names & trade names
| Legal nameNL | FINGRAY |
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