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FIRST FRONT

Active Public limited companyfounded 2001active for 25 yearsKorte Zoutstraat 45, 9300 AalstKBO/BCE: BE 0476.027.203
FIRST FRONT
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Overview

Lifetime

19 annual accounts with figures on one time axis, 23 filings since 2002
peak €1.7m (2017)
€564,257▼ 13.3%
lowest -€404,407 (2023)
-€238,848▼ €296,013
peak €5.7m (2025)
€5.7m▲ 47.8%
€4.7m▲ 2.4%
Board2 names since 2021
- 
Owners3 names in the annual accounts
33.2%F-INVEST and 1 other
Documentsfilings and deeds
04-02-20264 days late
2025abbreviated format
Gross margin from €650,777 to €564,257Loss of €238,848Equity from €3.9m to €5.7mInvestments €2.4mCash from €164 to €25,425

Key points

from the 2025 annual accounts

Result

-€238,848 -€238,848
€57,2002024-€239,0002025

From profit to loss in 2025, after a profit of €57,165 in 2024.

Filings

23 annual accounts since 2002
deadline20102020

Three of the last ten came late. The 2020 accounts came latest: 5 days after the end of the period.

Position in the sector

-€238,848

Lower net result than 94% of companies in real estate. Sector median €9,997 · 11,290 companies.

Checked score

88
Excellent
Financially stronger than 56% of medium-sized companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 1,720 companies (NACE 68, medium-sized).

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.2%lowest value 01-2025: 0.3%▲ +0.1 percentage points vs 12-2024 02-2025: 0.4%▲ +0.1 percentage points vs 01-2025 03-2025: 0.4%● unchanged vs 02-2025 04-2025: 0.4%● unchanged vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 0.4%● unchanged vs 06-2025 08-2025: 0.4%● unchanged vs 07-2025 09-2025: 0.4%● unchanged vs 08-2025 10-2025: 0.4%● unchanged vs 09-2025 11-2025: 0.4%● unchanged vs 10-2025 12-2025: 0.4%● unchanged vs 11-2025 01-2026: 0.6%▲ +0.2 percentage points vs 12-2025 02-2026: 1.1%▲ +0.5 percentage points vs 01-2026highest value 03-2026: 0.2%▼ -0.9 percentage points vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.2%● unchanged vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026 11-2026: 0.2%● unchanged vs 10-2026

Financial strength
Average

78+9equity 53.2% of total assets
38+5short-term debt 29.5% · cash 0.2%
36-6return on assets -2.2%

Score breakdown

raises risk
Liquidity: current ratio 0.08, cash €25,425
No registered site in the KBO
lowers risk
Size: total assets €10.7m
Legal form: public limited company
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 (NACE 68, medium-sized). It does better than 73% of them on solvency, 30% on liquidity, 34% on profitability and 89% on growth.

The bankruptcy probability was computed on 09-11-2026 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.

The probability rests on the annual accounts with balance sheet date 30-06-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

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).

Comparable companies, two years later

In July 2024, 830 companies had the same profile as FIRST FRONT has now. Each dot stands for 3 companies, two years later.

96.5%
were still trading
2.9%
stopped another way
0.6%
went bankrupt
  • Medium-sized
  • 20 years or older
  • solvency 30% or more
  • a small loss

That fits the bankruptcy probability of FIRST FRONT itself: 0.2% within 12 months.

Test of the method

The method was tested on the 497,447 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 830 companies, not a prediction for FIRST FRONT. 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.

Credit verdict

Credit of up to €500,000 on 30-day terms is acceptable

Liquidity is insufficient, with a current ratio of 0.08 (0.06 in 2024), below 1. Short-term debt is 29.5% and cash 0.2% of total assets. 46.8% of the assets are financed with debt and provisions.

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 risk
raises risk · Liquidity: current ratio 0.08, cash €25,425
NBB · annual accounts
raises risk · No registered site in the KBO
KBO · seat and establishments
lowers risk · Size: total assets €10.7m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Legal form: public limited company
KBO
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year €5.7m
raises risk · 2025 accounts filed 4 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 04-02-2026, 4 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
4 days late
2024
3 days late
2023
on the day
2022
on the day
2021
on the day
2020
5 days late
2019
on the day
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 2 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed 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 31 January (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
30-06-2026 year end10-11-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

FI
F-INVEST BV
Managing director
NB
NV BUILD 4 U
Managing director, Roelandt Dominic
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0476027203
2 directors reappointed F-Invest BV (managing director) and Build 4 U NV (managing director) · Permanent representatives: Verschaete Frank, Gryspeert Kris and Roelandt Dominic · General meeting of 02-12-2021 · Gazette deed
Registered office moved from Evergem to Aalst New registered office: Korte Zoutstraat 45, 9300 Aalst · Previous registered office: Finlandstraat 11, 9940 Evergem · General meeting of 18-12-2020 · Gazette deed
Incorporation published on 20-11-2001 · Gazette deed
All 39 events

Comparable companies

same main activity, similar in size and age
Company
FIRST FRONT Aalst €10.7m €564,257 53.2% -
HAGE-INVEST Bierbeek €11.3m €516,632 27.0% 2
IMOBA Brussels €10.0m €493,736 59.6% 1
IMOËR Hasselt €10.1m €504,899 19.1% -
GOLDEN GATE ONE Watermael-Boitsfort €9.5m €582,115 39.8% 0
BOEY COMPANY Bredene €10.1m €679,270 77.8% -
AXIS-BUILDING Aalst €15.2m €778,685 52.4% 0

These companies have the same main activity as FIRST FRONT: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €9.5m and €15m, founded between 1999 and 2004.

Official details

Source: KBO
Status
Active since 08-11-2001Normal situation
Registered office
17 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
Activity
Renting and operating of own or leased residential real estate, excluding social housingNACE 68201
Financial year end
30 June
Peppol
Reachable since 21-10-2026
Company details

Annual accounts to 30-06-2025

€564,257▼ 13.3%
≈ €630,000estimated
€238,848
€5.7m▲ 47.8%
€10.7m▲ 21.9%
Filing
Filed on 04-02-2026
Financials

Insights on FIRST FRONT

FIRST FRONT files the abbreviated format. That format states no turnover. The gross margin rose from €43,052 in 2006 to €564,257 in 2025.

The balance sheet grew most from 2007 to 2009 through fixed assets.

Since December 2021, F-INVEST BV has been managing director.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 04-02-2026, 4 days late
€564,257
▼ 13.3%
-€83,018
▼ €330,308
-€238,848
▼ €296,013
-€2.9m
▲ €153,108
53.2%
▲ 9.3 percentage points
0.08
▲ 0.01

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €630,000. Estimated: probably between €570,000 and €700,000.

Balance sheet

balance sheet total €10.7m on 30-06-2025
What the company ownsHow it is paid for

in €m

in euro

Position in the sector

Compare with sector

53.2%

Higher than 68% of 11,299 companies in 2025.

0.08

Higher than 9% of 10,851 companies in 2025.

-2.2%

Higher than 23% of 11,184 companies in 2025.

FIRST FRONT Middle half of the sector 80% of the sector Abbreviated accounts in real estate (NACE 68)

Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019201820172016201420132012201120102009200820072006
Balance sheet: assets
20/58 10.7m8.8m9.2m6.5m6.8m7.1m7.3m7.4m4.6m5.2m5.3m5.6m5.7m6.0m6.3m6.7m2.3m1.5m871,146
21/28 10.5m8.6m8.9m5.7m6.0m5.8m6.0m6.4m3.1m4.8m5.1m5.2m5.4m5.6m5.8m4.9m2.2m1.4m610,526
21 ----------7631,526-------
22/27 10.5m8.6m8.9m5.7m6.0m5.8m6.0m6.4m3.1m4.8m5.1m5.2m5.4m5.6m5.8m4.9m2.2m1.4m610,526
22 10.5m8.6m8.9m5.7m6.0m5.8m6.0m6.4m3.1m4.8m5.1m5.2m5.4m5.6m5.8m4.9m2.2m1.4m610,526
24 4,0004,5405,1255,7106,2962,881-------------
29/58 241,578211,532311,787815,402853,5201.3m1.4m995,5131.5m370,017246,287345,756315,699397,721563,8101.8m177,987193,968260,619
29 -------491,891872,48296,79550,658161,31675,592313,85795,639581,400---
291 -------491,891872,48296,79550,658161,31675,592313,85795,639581,400---
3 ---------------1.1m---
30/36 ---------------1.1m---
40/41 216,153211,368276,398338,958117,089927,069304,828230,802184,241224,815146,839111,15623,05337,525197,743103,149134,816150,800166,404
40 17,58607511757,57178,94858,10163,536111,066204,456121,25791,3964,41519,06380,66642,133-20,000-
41 198,566211,368275,647338,783109,518848,121246,727167,26673,17520,35825,58219,76018,63818,462117,07761,016134,816130,800166,404
50/53 ---------45,74545,70745,55045,54545,26544,91444,77643,000--
54/58 25,42516435,389476,444736,432355,7021.1m272,820301,2502623,08327,734171,5091,075224,2748,39617043,16894,215
490/1 --------125,5862,400----1,240----
Balance sheet: equity and liabilities
10/49 10.7m8.8m9.2m6.5m6.8m7.1m7.3m7.4m4.6m5.2m5.3m5.6m5.7m6.0m6.3m6.7m2.3m1.5m871,146
10/15 5.7m3.9m3.8m4.2m4.3m4.2m4.2m3.8m2.7m2.6m2.5m2.6m2.7m2.7m2.8m2.9m1.2m252,823295,428
10/11 550,000550,000550,000550,000550,000550,000550,000550,000550,000550,000550,000550,000550,000550,000550,000550,000250,000250,000250,000
10 550,000550,000550,000550,000---------------
100 800,000800,000800,000800,000800,000800,000800,000800,000800,000800,000800,000800,000800,000800,000800,000800,000250,000250,000250,000
101 250,000250,000250,000250,000250,000250,000250,000250,000250,000250,000250,000250,000250,000250,000250,000250,000---
12 4.7m2.6m2.6m2.6m2.6m2.6m2.6m2.6m1.4m2.2m2.2m2.2m2.2m2.2m2.2m2.2m855,744--
13 871,201933,645996,0891.1m1.1m1.3m1.4m1.1m1.2m121,101127,611131,951136,292140,632144,972149,312111,79125,00025,000
130/1 123,318123,318123,318123,318123,31868,31843,31843,31843,31843,31843,31843,31843,31843,31843,31843,318---
130 80,00080,00080,00080,00080,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,000
1311 43,31843,31843,31843,31843,318--------------
1319 -----43,31843,31843,31843,31843,31843,31843,31843,31843,31843,31843,318---
132 747,883810,327872,771934,616988,4811.2m1.3m998,3201.1m52,78359,29363,63367,97472,31476,65480,99486,791--
14 -401,422-225,018-344,627-2,0652,488-280,165-366,339-441,364-480,572-346,792-401,111-279,176-262,502-197,314-87,908-22,13030,352-22,17720,428
16 375,324405,640435,956466,021493,512619,431640,695514,077573,28827,19930,55132,78635,02137,25639,49141,72644,710--
168 375,324405,640435,956466,021493,512619,431640,695514,077573,28827,19930,55132,78635,02137,25639,49141,72644,710--
17/49 4.7m4.5m5.0m1.8m2.1m2.3m2.6m3.1m1.4m2.6m2.8m2.9m3.0m3.2m3.4m3.7m1.1m1.3m575,718
17 1.4m1.2m1.4m244,896389,631660,346882,2341.5m1.2m2.1m2.4m2.6m2.8m3.0m3.2m3.3m944,3631.0m434,658
170/4 1.4m1.2m1.3m240,846385,581656,296878,1841.5m1.2m2.1m2.4m2.6m2.8m3.0m3.1m3.3m944,3631.0m434,658
178/9 16,0504,0504,0504,0504,0504,0504,0503,7503,7503,750----11,50011,500---
42/48 3.2m3.3m3.6m1.6m1.6m1.6m1.7m1.7m181,983482,741357,588309,107243,436242,257286,639419,419107,806253,637141,060
42 112,568108,219201,646144,847271,042276,373325,033342,621136,367229,614201,897187,776178,559169,812163,657159,357---
43 2.8m3.1m3.3m1.3m1.3m1.3m1.3m1.3m13,56692,19912,24425,58413,89917,25611,86312,40024,04347,08444,604
430/8 2.8m3.1m3.3m1.3m1.3m1.3m1.3m1.3m13,56692,19912,24425,58413,89917,25611,86312,40024,04347,08444,604
44 126,80697,57677,36799,7333,37421,2484,7343,88716,347143,678143,44795,74745,97854,748110,69944,35783,67517,33622,880
440/4 126,80697,57677,36799,7333,37421,2484,7343,88716,347143,678143,44795,74745,97854,748110,69944,35783,67517,33622,880
45 0503,465014,9303,49112,7193,3533,353--------4,28619,720
450/3 0503,465014,9303,49112,7193,3533,353--------4,28619,720
47/48 102,30027,6519,85110,54922,30040,8187,51214,02812,35017,250--5,000441420203,30588184,93053,857
492/3 114,85612,96138,28412,20741,719-11,064--1,250----5,05911,252---
Income statement
76A ------496,967-1.6m-10,541-11,50011,467-52,138170,722-89,838
9900 564,257650,777613,296330,433338,124303,971800,695392,9651.7m526,311242,213305,508327,373332,019412,927245,783146,552120,95743,052
630 526,960342,866850,471327,438237,201195,831190,098460,190119,376264,437177,699177,699176,936176,936236,413177,32059,492100,34530,320
631/4 0-420-57,681058,101-112,073---7,5507,550-7,373-19,42979,77820,239----
640/8 120,31561,040106,81226,59526,546149,33543,31213,94435,63131,23699,25720,21863,11656,84687,94943,26813,53111,4484,561
66A ---------763-----3,148---
9901 -83,018247,290-286,306-23,60116,27670,878567,284-81,1701.5m223,088-27,370107,59167,89218,45868,32525,19573,5299,1638,171
75/76B 7458006111,5469,90515,80218,2635,5146,6593,23910,75213,13515,9662,226109-640
75 7458006111,5469,90515,80218,2635,5146,6593,23910,75213,13515,9662,226109-640
65/66B 186,153220,900148,16662,30851,58358,13774,11169,62891,615183,382118,340134,079161,988159,621156,302137,34060,55351,24434,670
65 186,153220,900148,16662,30851,58358,13774,11169,62891,615183,382118,340134,079161,988159,621156,302137,34060,55351,24434,670
9903 -269,16426,849-434,471-85,908-34,69614,287503,079-134,9951.5m44,457-128,510-23,249-71,844-116,560-72,010-60,929183,808-42,08063,978
780 30,31630,31630,06527,491---------------
67/77 ---014,221---0-0---81-579343334-22152410,699
9904 -238,84857,165-404,407-58,41877,00235,551376,460-75,783926,74847,809-126,275-21,014-69,528-113,746-70,118-58,278139,319-42,60453,279
789 62,44462,44461,84553,865260,65150,62348,528114,9914,3406,5104,3404,3404,3404,3404,3405,796---
689 ------349,964-1.1m-------86,791--
9905 -176,404119,609-342,562-4,553337,65386,17475,02539,208-133,78054,319-121,935-16,674-65,188-109,406-65,778-52,48252,528-42,60453,279
Appropriation of the result
9906 -401,422-225,018-344,627-2,06557,488-280,165-366,339-441,364-480,572-346,792-401,111-279,176-262,502-197,314-87,908-22,13030,352-22,17744,428
14P -225,018-344,627-2,0652,488---------------
691/2 ---055,000--------------
6920 ---055,000--------------
694/7 ------------------24,000
695 ------------------24,000
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 4 older financial years (2002-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 04-02-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 4 days after the deadline. Filed on 4 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00033954.

Financial year Type Filed Reference Document
30-06-2025 abbreviated format 04-02-2026 2026-00033954 PDF
30-06-2024 abbreviated format 03-02-2025 2025-00027207 PDF
30-06-2023 abbreviated format 31-01-2024 2024-00022297 PDF
30-06-2022 abbreviated format 31-01-2023 2023-00020002 PDF
30-06-2021 abbreviated format 31-01-2022 2022-04200137 PDF
30-06-2020 abbreviated format 05-02-2021 2021-04800423 PDF
30-06-2019 abbreviated format 31-01-2020 2020-03500258 PDF
30-06-2018 abbreviated format 30-01-2019 2019-03400255 PDF
30-06-2017 abbreviated format 30-01-2018 2018-03000213 PDF
30-06-2016 abbreviated format 31-01-2017 2017-03000345 PDF
31-12-2014 abbreviated format 24-09-2015 2015-59900119 PDF
31-12-2013 abbreviated format 15-10-2014 2014-64800147 PDF
31-12-2012 abbreviated format 09-08-2013 2013-42000017 PDF
31-12-2011 abbreviated format 26-07-2012 2012-34600429 PDF
31-12-2010 abbreviated format 30-08-2011 2011-45900347 PDF
31-12-2009 abbreviated format 25-08-2010 2010-45400588 PDF
31-12-2008 abbreviated format 26-08-2009 2009-62200305 PDF
31-12-2007 abbreviated format 29-08-2008 2008-65000236 PDF
31-12-2006 abbreviated format 31-08-2007 2007-65700158 PDF
31-12-2005 abbreviated format 28-08-2006 2006-69103372 PDF
31-12-2004 abbreviated format 12-07-2005 2005-47200640 PDF
31-12-2003 abbreviated format 05-01-2005 2005-00304264 PDF
31-12-2002 abbreviated format 12-12-2003 2003-83300736 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019201820172016201420132012201120102009200820072006
443,942590,157564,165303,837253,476266,709757,383379,0201.7m487,525150,329285,290244,828195,394304,739202,515133,021109,50938,491
288,112400,032446,064269,020314,202231,382566,559384,4071.0m312,24651,424156,685107,40863,190166,295119,042198,81157,74183,600
335,93346,3124.1m48,884358,25368,82048,4002.6m119,319-02,289-05,1871.1m1.5m74,200843,42586,920
25,261-35,225-441,055-259,988380,730-721,963804,846-28,430300,988--24,651-143,775170,434-223,199215,8788,226-42,998-51,047-
-2.9m-3.1m-3.3m-747,727-766,126-367,159-275,505-689,9421.3m-112,724-111,30136,64972,263155,464277,1711.4m70,180-59,669119,559
53.2%43.8%41.3%64.8%62.7%58.9%56.6%50.8%58.0%49.5%47.3%47.2%46.4%45.5%44.9%43.5%53.2%16.3%33.9%
0.080.060.090.520.530.780.830.598.150.770.691.121.301.641.974.281.650.761.85
0.080.060.090.520.530.780.830.598.150.770.691.121.301.641.971.761.650.761.85
0.811.181.310.430.480.550.610.830.511.011.101.111.141.181.211.290.845.121.95
-4.2%1.5%-10.6%-1.4%1.8%0.8%9.1%-2.0%34.7%1.9%-5.0%-0.8%-2.6%-4.2%-2.5%-2.0%11.2%-16.9%18.0%
-2.2%0.6%-4.4%-0.9%1.1%0.5%5.1%-1.0%20.2%0.9%-2.4%-0.4%-1.2%-1.9%-1.1%-0.9%5.9%-2.8%6.1%
2.382.673.814.88---------------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Securities and guarantees

on own assets and for others
Item30-06-202530-06-202430-06-202330-06-2022
Debts secured on the company's own assets€4.1m€4.4m-€1.7m
Mortgages, amount registered€2.5m€2.5m€2.9m€2.9m
€6.1m€6.1m€1.8m€1.8m
Carrying value of the mortgaged assets€10.2m€8.3m€8.6m€5.4m

Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item30-06-202530-06-202430-06-202330-06-2022
Tangible fixed assets€335,933€46,312€4.1m€48,884
€526,960€342,866€850,471€327,438

Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)

Insights on FIRST FRONT

The operating result for 2025 is a loss of €83,018, after a profit of €247,290 in 2024.

Debt's share of the balance-sheet total falls from 51.6% to 43.3%. Equity and debt are higher.

Board & ownership

Board

2 office holders
F-INVEST BV
Managing director
in office according to the deed of 21-09-2022 term until the 2026 general meeting
NV BUILD 4 U
Managing director, permanent representative Roelandt Dominic
in office according to the deed of 21-09-2022 term until the 2026 general meeting
F-INVEST BV, NV BUILD 4 U
Permanent representatives 1
Roelandt Dominic
Permanent representative, for NV BUILD 4 U
in office according to the deed of 21-09-2022

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today
F-INVEST BV
Managing director
NV BUILD 4 U
Managing director
Leadership
Mandates as a list
  • F-INVEST BV
    • Managing director, from 02-12-2021 to date
  • NV BUILD 4 U
    • Managing director, from 02-12-2021 to date

See the board, name and registered office on a given date →

Control

Shareholder
F-INVEST
Equity €5.3m
Profit €163,721 in 2025 (profit €751,034 in 2024)
33.2%
This company
FIRST FRONT
Equity €5.7m
Loss €238,848 in 2025

and 1 other shareholder

Capital

Capital
€550,000
Source
2025 annual accounts

Owners through the years

as the annual accounts name them
F-INVEST
33%33.2%
33.2%
K-INVEST
33%33.2%
33.2%
BUILD 4 U
0.01%
0.4% until 2023
Owners as a list

Source: lists of holdings in the owners' accounts

Shareholders

2 owners

Owners 2

Network & group

No group

FIRST FRONT has no parent and no holdings in its annual accounts.

At the same address

Korte Zoutstraat 45, 9300 Aalst · 16 other companies
BUILD 4 U
registered office since 11-01-2001 · founded in 2000
 total assets €85.3m (2025)
0472.902.813
ROCHER III
registered office since 07-03-2024 · founded in 2024
 total assets €30.7m (2025)
1006.866.433
AUTOHANDEL E. SMET
registered office since 18-01-1983 · founded in 1982
 total assets €24.5m (2025)
0423.341.454
REDROSE PROPERTIES
registered office since 04-05-1996 · founded in 1996
 total assets €20.5m (2025)
0457.951.450
REDROSE HOLDING
registered office since 26-11-2004 · founded in 2004
 total assets €16.4m (2025)
0870.308.843
AXIS-BUILDING
registered office since 15-07-2004 · founded in 2004
 total assets €15.2m (2025)
0866.368.267
ROCHER
registered office since 02-06-2023 · founded in 2023
 total assets €14.3m (2025)
0802.372.320
ROCHER II
registered office since 08-12-2023 · founded in 2023
 total assets €13.1m (2025)
1003.178.750
WATERLOO INVESTMENTS
registered office since 03-02-2006 · founded in 2006 · group BUILD 4 U
 total assets €12.8m (2025)
0878.613.924
ARMAN BO1
registered office since 27-01-2003 · founded in 2003
 total assets €10.7m (2025)
0479.392.806
and 6 more

Connections & network

2 office holders
Depth

The network starts from the directors of FIRST FRONT. 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

Timeline

39 events since 2001

Deadline for the 2026 accounts: 31-01-2027

2026
Registered in the Peppol Directory Reachable for e-invoices through 0208:0476027203
Annual accounts 2025 filed PDFabbreviated format · 4 days late
2025
Equity above €5m equity €5.7m ▲47.8% Equity rises from €3.9m to €5.7m.
Annual accounts 2024 filed PDFabbreviated format · 3 days late
2024
Back to profit net €57,165 The net result is €57,165, after 2 loss-making years.
Annual accounts 2023 filed PDFabbreviated format · on the deadline day
2023
Weakest financial year net -€404,407 The net result drops to -€404,407, the lowest from 2006 to 2025. It recovers the following year.
Annual accounts 2022 filed PDFabbreviated format · on the deadline day
2022
2 directors reappointedF-Invest BV (managing director) and Build 4 U NV (managing director) · Permanent representatives: Verschaete Frank, Gryspeert Kris and Roelandt Dominic · General meeting of 02-12-20216 points ▸
  • General meeting, 02-12-2021
  • Director reappointment, F-Invest BV (managing director)
  • Director reappointment, Build 4 U NV (managing director)
  • Permanent representative, Verschaete Frank (managing director)
  • Permanent representative, Gryspeert Kris (managing director)
  • Permanent representative, Roelandt Dominic (managing director)

Open the deed in the Belgian Official Gazette

Annual accounts 2021 filed PDFabbreviated format · on the deadline day
2021
Annual accounts 2020 filed PDFabbreviated format · 5 days late
2020
Registered office moved from Evergem to AalstNew registered office: Korte Zoutstraat 45, 9300 Aalst · Previous registered office: Finlandstraat 11, 9940 Evergem · General meeting of 18-12-20202 points ▸
  • General meeting, 18-12-2020
  • Registered-office move, Korte Zoutstraat 45, 9300 Aalst
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

Annual accounts 2019 filed PDFabbreviated format · on the deadline day
2019
Back to profit net €376,460 The net result is €376,460, after one loss-making year.
Annual accounts 2018 filed PDFabbreviated format · 1 day before the deadline
2018
Annual accounts 2017 filed PDFabbreviated format · 1 day before the deadline
2017
Highest result from 2006 to 2025 net €926,748 ▲1,838% The operating result of €1.5m and the net result of €926,748 are both a record.
Liquidity more than 10 times current ratio 8.15 The current ratio rises from 0.77 to 8.15. Short-term debt falls from €482,741 to €181,983.
Annual accounts 2016 filed PDFabbreviated format · on the deadline day
2016
Back to profit net €47,809 The net result is €47,809, after 6 loss-making years.
2015
Annual accounts 2014 filed PDFabbreviated format · 55 days late
2014
Annual accounts 2013 filed PDFabbreviated format · 76 days late
2013
Annual accounts 2012 filed PDFabbreviated format · 9 days late
2012
Annual accounts 2011 filed PDFabbreviated format · 5 days before the deadline
2011
Annual accounts 2010 filed PDFabbreviated format · 30 days late
2010
Annual accounts 2009 filed PDFabbreviated format · 25 days late
2009
Liquidity more than doubled current ratio 4.28 The current ratio rises from 1.65 to 4.28.
Equity above €2m equity €2.9m ▲133% Equity rises from €1.2m to €2.9m.
Annual accounts 2008 filed PDFabbreviated format · 26 days late
2008
Back to profit net €139,319 The net result is €139,319, after one loss-making year.
Liquidity more than doubled current ratio 1.65 The current ratio rises from 0.76 to 1.65. Short-term debt falls from €253,637 to €107,806.
Equity above €1m equity €1.2m ▲394% Equity rises from €252,823 to €1.2m.
Annual accounts 2007 filed PDFabbreviated format · 29 days late
2007
Annual accounts 2006 filed PDFabbreviated format · 31 days late
2006
Annual accounts 2005 filed PDFabbreviated format
2005
Annual accounts 2004 filed PDFabbreviated format
Annual accounts 2003 filed PDFabbreviated format
2003
Annual accounts 2002 filed PDFabbreviated format
2001
Incorporation published on 20-11-2001

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

FIRST FRONT was incorporated on 8 November 2001.1 The registered office was moved to Aalst in 2020.2 Total assets rose from €7.3m in 2019 to €10.7m in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 30-12-2020
  3. 3National Bank, annual accounts 2019 and 2025

Company details

Identity

Enterprise number
0476.027.203
VAT number
BE 0476.027.203
Peppol ID
0208:0476027203
Legal form
Public limited company
Status
Active, normal situation
Founded
08-11-2001
Financial year
ends on 30 June
Peppol
Reachable since 21-10-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
FIRST FRONT in Dutch
Entity type
Legal entity

Activities

NACEBEL 2025
68201 Renting and operating of own or leased residential real estate, excluding social housing main activity
Codes under NACEBEL 2008
68201 Real estate activities main activity

Registered office and establishments

Korte Zoutstraat 45 registered office 9300 Aalst
1 former office
  • 9940 Evergem until the deed of 30-12-2020

Buildings and parcels at the address

Ground area
118 m²
Buildings
82 m²
Volume, LiDAR
888 m³
Tallest building
14.0 m
Buildings to scale, each on its own parcel
82 m², 14.0 m 82 m², 14.0 m

Location

exact location from the address register On OpenStreetMap
17 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
41002A1917/00_000
ProtectedTownscape or village viewKeizersplein met aanpalende bebouwingSource ↗
118 m² 1 · 82 m² 14.0 m · 4

1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.

Contact

E-mail dr@redrose.be

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