Summary
FINOA has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €490k. Equity is growing by ~4.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
No current score
Insufficient figures
A score requires measurable solvency, liquidity and profitability. Missing figures are not a judgement about the company.
Axes · tick = 2024
Profitability-
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
89.1%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-08-2026, 7 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
7 d late
2024
188 d late
2023
68 d late
2022
52 d late
2020
31 d late
2019
56 d late
2018
1 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-249
2023 · €31k
2018: €-1klowest value
2019: €226k▲ +19506% vs 2018highest value
2020: €6▼ -100.0% vs 2019
2022: €27k
2023: €31k▲ +17.8% vs 2022
2024: €-249▼ -101% vs 2023
2018 → 2024
Working capital
€-10k=
2024 · €-10k
2018: €19k
2019: €407k▲ +2098% vs 2018highest value
2020: €-87k▼ -121% vs 2019lowest value
2022: €-32k
2023: €-9k▲ +71.0% vs 2022
2024: €-10k▼ -2.6% vs 2023
2025: €-10k● -0.0% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202022202320242025Trend
Equity€413k-€459k▲ 11.2%€491k▲ 6.8%€490k▼ 0.1%€490k=
2020: €413klowest value
2022: €459k
2023: €491k▲ +6.8% vs 2022highest value
2024: €490k▼ -0.1% vs 2023
2025: €490k● 0.0% vs 2024
Operating result€174-€-2k€-5k▼ 154%
2020: €174highest value
2022: €-2k
2023: €-5k▼ -154% vs 2022lowest value
Net result€6-€27k▲ 415,174%€31k▲ 17.8%€-249
2020: €6
2022: €27k
2023: €31k▲ +17.8% vs 2022highest value
2024: €-249▼ -101% vs 2023lowest value
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5k in 2023 against €2k in 2022; the loss grows and 2023 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €550k
Fixed assets
€500k =
Current assets
€50k =
Equity and liabilities €550k
Equity
€490k =
Debt
€60k =
Debt's share of the balance-sheet total stays at 10.9%.
Key figures and ratios
Current ratio
0.84=
2024 · 0.84
Debt to equity
0.12=
2024 · 0.12
Debt ≤ 1 year
€60k=
2024 · €60k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 26 lines
Balance sheet
Code20242025
Assets
Total assets20/58€550k€550k=
Fixed assets21/28€500k€500k=
Financial fixed assets28€500k€500k=
Current assets29/58€50k€50k=
Amounts receivable within one year40/41€5k€5k=
Other amounts receivable41€5k€5k=
Cash at bank and in hand54/58€43k€43k=
Deferred charges and accrued income490/1€3k€3k=
Equity and liabilities
Total equity and liabilities10/49€550k€550k=
Equity10/15€490k€490k=
Contributions10/11€450k€450k=
Profit (loss) carried forward14€40k€40k=
Amounts payable17/49€60k€60k=
Amounts payable within one year42/48€60k€60k=
Trade debts44€50€50=
Suppliers440/4€50€50=
Taxes, remuneration and social security45€2k€2k=
Taxes450/3€2k€2k=
Other amounts payable47/48€57k€57k=
Income statement
Code20242025
Financial charges65/66B€249-
Recurring financial charges65€249-
Profit (loss) for the period before taxes9903€-249-
Profit (loss) for the period9904€-249-
Profit (loss) for the period to be appropriated9905€-249-
Appropriation of the result
Profit (loss) to be appropriated9906€40k€40k=
Profit (loss) brought forward from the previous period14P€41k€40k▼
The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | €468 | €70 | - | - | - |
| Gross operating margin9900 | €582 | €-1k | €-5k | - | - | - |
| Operating profit (loss)9901 | €174 | €-2k | €-5k | - | - | - |
| Financial income75/76B | - | €32k | €38k | - | - | - |
| Recurring financial income75 | €13 | €32k | €38k | - | - | - |
| Financial charges65/66B | - | €4k | €2k | €249 | - | - |
| Recurring financial charges65 | €181 | €4k | €2k | €249 | - | - |
| Profit (loss) for the period before taxes9903 | €6 | €27k | €31k | €-249 | - | - |
| Profit (loss) for the period9904 | €6 | €27k | €31k | €-249 | - | - |
| Profit (loss) for the period to be appropriated9905 | €6 | €27k | €31k | €-249 | - | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €514k | €568k | €550k | €550k | €550k | = |
| Formation expenses20 | - | €0 | - | - | - | - |
| Fixed assets21/28 | €500k | €500k | €500k | €500k | €500k | = |
| Financial fixed assets28 | €500k | €500k | €500k | €500k | €500k | = |
| Current assets29/58 | €14k | €68k | €50k | €50k | €50k | = |
| Amounts receivable within one year40/41 | €3k | €62k | €5k | €5k | €5k | = |
| Other amounts receivable41 | - | €62k | €5k | €5k | €5k | = |
| Cash at bank and in hand54/58 | €11k | €5k | €6k | €43k | €43k | = |
| Deferred charges and accrued income490/1 | - | €1k | €39k | €3k | €3k | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €514k | €568k | €550k | €550k | €550k | = |
| Equity10/15 | €413k | €459k | €491k | €490k | €490k | = |
| Contributions10/11 | €62k | €62k | €450k | €450k | €450k | = |
| Capital10 | - | €62k | - | - | - | - |
| Issued capital100 | - | €62k | - | - | - | - |
| Reserves13 | €48k | €48k | - | - | - | - |
| Non-distributable reserves130/1 | - | €48k | - | - | - | - |
| Legal reserve130 | - | €48k | - | - | - | - |
| Profit (loss) carried forward14 | €304k | €350k | €41k | €40k | €40k | = |
| Amounts payable17/49 | €101k | €109k | €60k | €60k | €60k | = |
| Amounts payable within one year42/48 | €101k | €101k | €60k | €60k | €60k | = |
| Trade debts44 | €2k | €2k | €50 | €50 | €50 | = |
| Suppliers440/4 | - | €2k | €50 | €50 | €50 | = |
| Taxes, remuneration and social security45 | - | - | €2k | €2k | €2k | = |
| Taxes450/3 | - | - | €2k | €2k | €2k | = |
| Other amounts payable47/48 | - | €99k | €57k | €57k | €57k | = |
| Accrued charges and deferred income492/3 | - | €8k | - | - | - | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6 | €27k | €31k | €-249 | - | - |
| Operating cash flow (approximation) | €6 | €27k | €31k | €-249 | - | - |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | - | €1k | €36k | €0 | ▼ 100% |
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
07-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 7 days late
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 188 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
21-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 52 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 56 days late
2019
31-12
Financial
Back to profitnet €226k
Net result €226k after one loss-making year.
31-12
Financial
Liquidity times 8current ratio 11.49
Current ratio from 1.39 to 11.49; short-term debt falls from €48k to €39k.
31-12
Financial
Equity above €200kEq €413k ▲121%
Equity rises from €187k to €413k.
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 1 day late
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are 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, Herstal · 1 establishment unit since 2009
Ground area
9.3 ha
Building footprint
3,473 m²
Volume, LiDAR
3,995 m³
2 parcels, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Finoa & Associés
since 20092.207.508.281
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25384A0101/00W000 | Wallonia | 8.8 ha | 1 · 654 m² | 8.9 m · 2 fl. |
| 62312B0024/00C005 | Wallonia | 4,793 m² | 1 · 2,819 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded05-05-2009
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.