FIRST EDGE
ActiveSummary
FIRST EDGE has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €136,462 and a net result of €10,010. Equity is growing by ~18.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▲+5
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 8.95 against 7.09 in 2024; short-term debt: 9.1% and cash: 55.5% of total assets), and 9.1% of the assets are financed with debt.
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Signals
Five 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
90.9%
Return on assets
6.7%
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 25-08-2026, 25 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
25 d late
2024
31 d late
2023
30 d late
2022
31 d late
2021
30 d late
2020
30 d late
2019
1 d early
← 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 25 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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 31 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€136,462▲ 7.9%
2024 · €126,452
Total assets
€150,069▲ 6.0%
2024 · €141,512
Net result
€10,010▲ 125%
2024 · €4,456
Working capital
€108,114▲ 18.0%
2024 · €91,659
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Operating result€33,625▲ 96.8%€26,490▼ 21.2%€76,070▲ 187%€52,013▼ 31.6%€63,727▲ 22.5%
Net result€24,065above the sector's middle half▲ 56.8%€19,266within the sector's middle half▼ 19.9%€25,675above the sector's middle half▲ 33.3%€4,456within the sector's middle half▼ 82.6%€10,010within the sector's middle half▲ 125%
Equity€77,055within the sector's middle half▲ 39.6%€96,321within the sector's middle half▲ 25.0%€121,996above the sector's middle half▲ 26.7%€126,452above the sector's middle half▲ 3.7%€136,462above the sector's middle half▲ 7.9%
Total assets€113,383within the sector's middle half▲ 65.1%€117,292within the sector's middle half▲ 3.4%€134,246within the sector's middle half▲ 14.5%€141,512within the sector's middle half▲ 5.4%€150,069within the sector's middle half▲ 6.0%
Debt€36,328▲ 170%€20,972▼ 42.3%€12,250▼ 41.6%€15,061▲ 22.9%€13,607▼ 9.7%
Working capital€51,166within the sector's middle half▲ 321%€86,928above the sector's middle half▲ 69.9%€79,249within the sector's middle half▼ 8.8%€91,659above the sector's middle half▲ 15.7%€108,114above the sector's middle half▲ 18.0%
Solvency68.0%above the sector's middle half▼ 12.4pp82.1%above the sector's middle half▲ 14.2pp90.9%above the sector's middle half▲ 8.8pp89.4%above the sector's middle half▼ 1.5pp90.9%above the sector's middle half▲ 1.6pp
Current ratio2.41within the sector's middle half▲ 0.515.15above the sector's middle half▲ 2.747.47above the sector's middle half▲ 2.327.09above the sector's middle half▼ 0.388.95above the sector's middle half▲ 1.86
Return on assets (ROA)21.2%above the sector's middle half▼ 1.1pp16.4%above the sector's middle half▼ 4.8pp19.1%above the sector's middle half▲ 2.7pp3.1%within the sector's middle half▼ 16.0pp6.7%within the sector's middle half▲ 3.5pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 23% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €150,069
Fixed assets
€28,348 ▼ 18.5%
Current assets
€121,721 ▲ 14.1%
Equity and liabilities €150,069
Equity
€136,462 ▲ 7.9%
Debt
€13,607 ▼ 9.7%
Debt's share of the balance-sheet total falls from 10.6% to 9.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€73,406▲
2024 · €61,265
Cash flow
€19,689▲
2024 · €13,708
Quick ratio
8.55▲
2024 · 6.73
Debt to equity
0.10▼
2024 · 0.12
ROE
7.3%▲
2024 · 3.5%
Interest coverage
1.47▲
2024 · 1.34
Debt ≤ 1 year
€13,607▼
2024 · €15,061
Income taxes
€4,317▲
2024 · €1,726
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 34,679 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,143 | €16,497 | €2,259 | €9,252 | €9,679 | ▲ 4.6% |
| Other operating charges640/8 | €854 | €950 | €868 | €562 | €877 | ▲ 56.0% |
| Gross operating margin9900 | €51,621 | €43,936 | €79,196 | €61,828 | €74,283 | ▲ 20.1% |
| Operating profit (loss)9901 | €33,625 | €26,490 | €76,070 | €52,013 | €63,727 | ▲ 22.5% |
| Financial income75/76B | €56 | €300 | €502 | - | €649 | - |
| Recurring financial income75 | €56 | €300 | €502 | - | €649 | - |
| Financial charges65/66B | €711 | €294 | €42,497 | €45,831 | €50,048 | ▲ 9.2% |
| Recurring financial charges65 | €711 | €294 | €42,497 | €45,831 | €50,048 | ▲ 9.2% |
| Profit (loss) for the period before taxes9903 | €32,970 | €26,496 | €34,074 | €6,182 | €14,328 | ▲ 132% |
| Income taxes67/77 | €8,905 | €7,231 | €8,399 | €1,726 | €4,317 | ▲ 150% |
| Profit (loss) for the period9904 | €24,065 | €19,266 | €25,675 | €4,456 | €10,010 | ▲ 125% |
| Profit (loss) for the period to be appropriated9905 | €24,065 | €19,266 | €25,675 | €4,456 | €10,010 | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €113,383 | €117,292 | €134,246 | €141,512 | €150,069 | ▲ 6.0% |
| Fixed assets21/28 | €25,889 | €9,393 | €42,747 | €34,792 | €28,348 | ▼ 18.5% |
| Intangible fixed assets21 | €7,104 | - | - | - | - | - |
| Tangible fixed assets22/27 | €18,785 | €9,393 | €42,747 | €34,792 | €28,348 | ▼ 18.5% |
| Furniture and vehicles24 | €18,785 | €9,393 | €42,747 | €34,792 | €28,348 | ▼ 18.5% |
| Current assets29/58 | €87,493 | €107,900 | €91,498 | €106,720 | €121,721 | ▲ 14.1% |
| Stocks and contracts in progress3 | €5,473 | €5,473 | €5,395 | €5,395 | €5,395 | = |
| Stocks30/36 | €5,473 | €5,473 | €5,395 | €5,395 | €5,395 | = |
| Amounts receivable within one year40/41 | €21,584 | €32,387 | €52,647 | €43,325 | €31,118 | ▼ 28.2% |
| Trade receivables40 | €21,584 | €32,387 | €34,449 | €36,256 | €14,346 | ▼ 60.4% |
| Other amounts receivable41 | - | - | €18,199 | €7,069 | €16,772 | ▲ 137% |
| Cash at bank and in hand54/58 | €59,481 | €65,417 | €32,583 | €56,173 | €83,269 | ▲ 48.2% |
| Deferred charges and accrued income490/1 | €955 | €4,624 | €873 | €1,827 | €1,940 | ▲ 6.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €113,383 | €117,292 | €134,246 | €141,512 | €150,069 | ▲ 6.0% |
| Equity10/15 | €77,055 | €96,321 | €121,996 | €126,452 | €136,462 | ▲ 7.9% |
| Contributions10/11 | €8,060 | €8,060 | €8,060 | €8,060 | €8,060 | = |
| Reserves13 | - | - | €20,000 | €20,000 | €26,000 | ▲ 30.0% |
| Distributable reserves133 | - | - | €20,000 | €20,000 | €26,000 | ▲ 30.0% |
| Profit (loss) carried forward14 | €68,995 | €88,261 | €93,936 | €98,392 | €102,402 | ▲ 4.1% |
| Amounts payable17/49 | €36,328 | €20,972 | €12,250 | €15,061 | €13,607 | ▼ 9.7% |
| Amounts payable within one year42/48 | €36,328 | €20,972 | €12,250 | €15,061 | €13,607 | ▼ 9.7% |
| Trade debts44 | €11,204 | €704 | €2,850 | €4,543 | €1,397 | ▼ 69.2% |
| Suppliers440/4 | €11,204 | €704 | €2,850 | €4,543 | €1,397 | ▼ 69.2% |
| Taxes, remuneration and social security45 | €18,196 | €20,267 | €9,399 | €10,518 | €12,210 | ▲ 16.1% |
| Taxes450/3 | €18,196 | €20,267 | €9,399 | €10,518 | €12,210 | ▲ 16.1% |
| Other amounts payable47/48 | €6,928 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,065 | €19,266 | €25,675 | €4,456 | €10,010 | ▲ 125% |
| + Depreciation and write-downs630 | €17,143 | €16,497 | €2,259 | €9,252 | €9,679 | ▲ 4.6% |
| Operating cash flow (approximation) | €41,207 | €35,762 | €27,934 | €13,708 | €19,689 | ▲ 43.6% |
| Investment in fixed assets (approximation) | - | €0 | -€35,614 | -€1,297 | -€3,234 | ▼ 149% |
| Change in cash | - | €5,935 | -€32,834 | €23,590 | €27,096 | ▲ 14.9% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €25,675 ▲33.3%
Operating result €76,070, net result €25,675, both a record.
31-12
Financial
Equity above €100,000Eq €121,996 ▲26.7%
5 profitable years in a row build equity to €121,996.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 5.15
Current ratio from 2.41 to 5.15; short-term debt falls from €36,328 to €20,972.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €2,935
Net result €2,935 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
3 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, Sint-Lambrechts-Woluwe · 1 establishment unit since 2015
Ground area
2,892 m²
Building footprint
1,222 m²
Volume, LiDAR
26,345 m³
Parcel 21018A0145/00L003, Brussels · tallest building 36.1 m, ±8 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
FIRST EDGE
since 20152.237.322.024
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21018A0145/00L003 | Brussels | 2,892 m² | 1 · 1,222 m² | 36.1 m · 8 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
254900W2YCGNSMVDLT43
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Of 3,226 companies in sector 47781 we hold annual accounts for 743. 544 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-11-2014
Fiscal year end31-12
Activities, NACEBEL 2025
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
62100Computer programming
68110Buying and selling of own real estate
68321Property management for co-owned buildings (syndics)
70200Business and other management consultancy
74209Other photographic activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0505785912
Also
9925:BE0505785912
Registered
28-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.