Fishway
ActiveSummary
The computed 12-month bankruptcy probability of Fishway is 2.6% (moderate). The annual accounts of Fishway for fiscal year 2024 show a net loss of 55% of total assets and of 75% of the equity at the start of that year. The 2024 annual accounts show equity of €1.3m and a net result of -€894,574. Its solvency ranks better than 83% of 64 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency100=
Growth52
Track record94
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.99 against 2.96 in 2023; short-term debt: 15.2% and cash: 2.3% of total assets), and 17.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 03
Relative position
BE, all sectors
reference
Fishing and aquaculture (NACE 03)
about 57% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
82.5%
Return on assets
-55.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
37 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 9 days after the deadline, and 54% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€1.3m▲ 12.3%
2023 · €1.2m
Total assets
€1.6m▲ 18.7%
2023 · €1.4m
Net result
-€894,574▼ 68.4%
2023 · -€531,336
Working capital
-€2,251
2023 · €342,921
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 03, Fishing and aquaculture, 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
Line20232024
Operating result-€567,210--€916,992▼ 61.7%
Net result-€531,336below the sector's middle half--€894,574below the sector's middle half▼ 68.4%
Equity€1.2mwithin the sector's middle half-€1.3mwithin the sector's middle half▲ 12.3%
Total assets€1.4mwithin the sector's middle half-€1.6mwithin the sector's middle half▲ 18.7%
Debt€174,967-€282,978▲ 61.7%
Working capital€342,921within the sector's middle half--€2,251within the sector's middle half
Solvency87.1%above the sector's middle half-82.5%above the sector's middle half▼ 4.7pp
Current ratio2.96within the sector's middle half-0.99within the sector's middle half▼ 1.97
Return on assets (ROA)-39.0%below the sector's middle half--55.4%below the sector's middle half▼ 16.3pp
Staff (FTE)5below the sector's middle half-5.2below the sector's middle half▲ 4.0%
above
within
below
the middle half (P25 to P75) of NACE 03, Fishing and aquaculture, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €916,992 in 2024 against €567,210 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.4m ▲ 62.8%
Current assets
€242,563 ▼ 53.2%
Equity and liabilities €1.6m
Equity
€1.3m ▲ 12.3%
Debt
€282,978 ▲ 61.7%
Debt's share of the balance-sheet total rises from 12.9% to 17.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€654,530▼
2023 · -€477,254
Cash flow
-€632,112▼
2023 · -€441,380
Debt to equity
0.21▲
2023 · 0.15
ROE
-67.1%▼
2023 · -44.8%
Interest coverage
-83.13▲
2023 · -249.38
Debt ≤ 1 year
€244,813▲
2023 · €174,967
Debt > 1 year
€38,164
Income taxes
-€30,282▲
2023 · -€37,498
Staff costs
€600,133▲
2023 · €580,380
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,227 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 87% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.9%
went bankrupt
8.6%
stopped otherwise
87%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.6% over twelve months; the group does not contradict it.
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 3,227 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 | 2023 | 2024 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €580,380 | €600,133 | ▲ 3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89,956 | €262,462 | ▲ 192% |
| Other operating charges640/8 | €1,039 | €1,360 | ▲ 30.9% |
| Gross operating margin9900 | €104,166 | -€53,037 | ▼ 151% |
| Operating profit (loss)9901 | -€567,210 | -€916,992 | ▼ 61.7% |
| Financial income75/76B | €290 | €10 | ▼ 96.6% |
| Recurring financial income75 | €290 | €10 | ▼ 96.6% |
| Financial charges65/66B | €1,914 | €7,874 | ▲ 311% |
| Recurring financial charges65 | €1,914 | €7,874 | ▲ 311% |
| Profit (loss) for the period before taxes9903 | -€568,834 | -€924,856 | ▼ 62.6% |
| Income taxes67/77 | -€37,498 | -€30,282 | ▲ 19.2% |
| Profit (loss) for the period9904 | -€531,336 | -€894,574 | ▼ 68.4% |
| Profit (loss) for the period to be appropriated9905 | -€531,336 | -€894,574 | ▼ 68.4% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.4m | €1.6m | ▲ 18.7% |
| Fixed assets21/28 | €843,243 | €1.4m | ▲ 62.8% |
| Intangible fixed assets21 | €517,646 | €1.1m | ▲ 103% |
| Tangible fixed assets22/27 | €325,597 | €320,811 | ▼ 1.5% |
| Plant, machinery and equipment23 | €322,905 | €206,918 | ▼ 35.9% |
| Furniture and vehicles24 | €2,693 | €1,575 | ▼ 41.5% |
| Leasing and similar rights25 | - | €112,319 | - |
| Current assets29/58 | €517,888 | €242,563 | ▼ 53.2% |
| Amounts receivable within one year40/41 | €80,213 | €111,890 | ▲ 39.5% |
| Trade receivables40 | €215 | €1,094 | ▲ 409% |
| Other amounts receivable41 | €79,998 | €110,795 | ▲ 38.5% |
| Cash at bank and in hand54/58 | €411,709 | €37,385 | ▼ 90.9% |
| Deferred charges and accrued income490/1 | €25,966 | €93,288 | ▲ 259% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.4m | €1.6m | ▲ 18.7% |
| Equity10/15 | €1.2m | €1.3m | ▲ 12.3% |
| Contributions10/11 | €1.7m | €2.8m | ▲ 60.6% |
| Profit (loss) carried forward14 | -€531,336 | -€1.4m | ▼ 168% |
| Amounts payable17/49 | €174,967 | €282,978 | ▲ 61.7% |
| Amounts payable after more than one year17 | - | €38,164 | - |
| Financial debts170/4 | - | €38,164 | - |
| Amounts payable within one year42/48 | €174,967 | €244,813 | ▲ 39.9% |
| Current portion of amounts payable after more than one year42 | - | €32,205 | - |
| Financial debts43 | - | €2,120 | - |
| Credit institutions430/8 | - | €2,120 | - |
| Trade debts44 | €112,966 | €95,320 | ▼ 15.6% |
| Suppliers440/4 | €112,966 | €95,320 | ▼ 15.6% |
| Taxes, remuneration and social security45 | €62,002 | €65,168 | ▲ 5.1% |
| Taxes450/3 | - | €320 | - |
| Remuneration and social security454/9 | €62,002 | €64,848 | ▲ 4.6% |
| Other amounts payable47/48 | - | €50,000 | - |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€531,336 | -€894,574 | ▼ 68.4% |
| + Depreciation and write-downs630 | €89,956 | €262,462 | ▲ 192% |
| Operating cash flow (approximation) | -€441,380 | -€632,112 | ▼ 43.2% |
| Investment in fixed assets (approximation) | - | -€792,261 | - |
| Change in cash | - | -€374,324 | - |
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
2026
19-08
State Gazette act
Appointments: Finvision Bedrijfsrevisoren BV, Yaacob Yanay and Shay CohenAuditor report · Capital increase · Statutes amendment11 facts ▸
State Gazette act
Appointments: Finvision Bedrijfsrevisoren BV, Yaacob Yanay and Shay Cohen
Auditor report · Capital increase · Statutes amendment11 facts ▸
- General meeting, buitengewone algemene vergadering
- Other statement, deposit of special report by sole director, inbreng in natura van schuldvorderingen
- Other statement, deposit of special report by statutory auditor, inbreng in natura
- Auditor appointment, Finvision Bedrijfsrevisoren BV (company auditor)
- Auditor report, 10-08-2026
- Capital increase, €805.792
- Capital increase, €681.330
- Director appointment, Yaacob Yanay (director)
- Director appointment, Shay Cohen (director)
- Statutes amendment
- Power of attorney
22-07
State Gazette act
Resignation: Annelies Bogaerts (day-to-day manager)Power of attorney3 facts ▸
State Gazette act
Resignation: Annelies Bogaerts (day-to-day manager)
Power of attorney3 facts ▸
- Board meeting, 07-05-2026
- Director resignation, Annelies Bogaerts (day-to-day manager)
- Power of attorney, Reinart Vos
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
State Gazette actNBB filing
2 of 14 acts read
About the unread acts
Of the 14 Belgian State Gazette acts we know for this company, 2 have been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Statutory auditor 1
BV Finvision Bedrijfsrevisoren
CurrentAuditor · since 19-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
12 of this company's 14 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 2022
Ground area
7,000 m²
Building footprint
1,139 m²
Volume, LiDAR
15,081 m³
Parcel 24040B0201/00H002, Flanders · tallest building 17.0 m, ±4 floors. Linked by address, not a title deed.
26
companies at this address
See who is registered here
1 establishment unit
Fishway
since 20222.333.476.342
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24040B0201/00H002 | Flanders | 7,000 m² | 1 · 1,139 m² | 17.0 m · 4 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.
Mandate history
4 people since 2026, 3 in office
- Board
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Shay Cohen |
|
| Yaacob Yanay |
|
| BV Finvision Bedrijfsrevisoren |
|
| Annelies Bogaerts |
|
Articles of association
Who signs
“Artikel 15: Vertegenwoordigingsmacht Onverminderd de algemene vertegenwoordigingsbevoegdheid van het bestuursorgaan, is de vennootschap geldig vertegenwoordigd tegenover derden: 15.1 indien de vennootschap slechts één bestuurder heeft, door de enige bestuurder, individueel handelend; 15.2 indien de…”
Full text
Artikel 15: Vertegenwoordigingsmacht Onverminderd de algemene vertegenwoordigingsbevoegdheid van het bestuursorgaan, is de vennootschap geldig vertegenwoordigd tegenover derden: 15.1 indien de vennootschap slechts één bestuurder heeft, door de enige bestuurder, individueel handelend; 15.2 indien de vennootschap twee of meer bestuurders heeft, door twee (2) bestuurders, gezamenlijk handelend; 15.3 in het kader van het dagelijks bestuur door een gedelegeerd bestuurder of CEO, individueel handelend; of 15.4 in het kader van hun bijzondere volmachten, door bijzondere gevolmachtigden aangesteld door het bestuursorgaan of in het kader van het dagelijks bestuur een persoon belast met het dagelijks bestuur.
Annual meeting
“Artikel 20: Jaarvergadering De gewone algemene vergadering, ook jaarvergadering genoemd, heeft plaats binnen de zes maanden na de afsluiting van het boekjaar; indien die dag een wettelijke feestdag is op de eerstvolgende werkdag, zelfde uur.”
Duration
Unlimited
Purpose
Het verwerven van participaties in eender welke vorm in alle bestaande of nog op te richten rechtspersonen en vennootschappen, het stimuleren, de planning, de coördinatie van de…
Full purpose (6 activities)
- Het verwerven van participaties in eender welke vorm in alle bestaande of nog op te richten rechtspersonen en vennootschappen, het stimuleren, de planning, de coördinatie van de ontwikkeling en investering in rechtspersonen en ondernemingen waarin zij al of niet een participatie aanhoudt.
- Het toestaan van leningen en kredietopeningen aan vennootschappen (met of zonder rechtspersoonlijkheid), rechtspersonen en particulieren, onder om het even welke vorm; in dit kader kan de vennootschap zich ook borg stellen of haar aval verlenen, alsmede haar onroerende goederen in hypotheek stellen en al haar andere goederen in pand stellen en dit zowel voor haarzelf als voor alle derden op voorwaarde dat zij er zelf belang bij heeft.
- Alle activiteiten die gewoonlijk worden verricht en uitgevoerd door tussenpersonen in de handel, verkoopagent-schappen, andere op commissiebasis werkzame tussenpersonen en vertegenwoordigers die uitsluitend op commissiebasis werken.
- Het waarnemen van alle bestuursopdrachten, waaronder het uitoefenen van opdrachten en functies van bestuurder, dagelijks bestuurder, zaakvoerder, lid van het om het even welk bestuursorgaan of vereffenaar van andere vennootschappen.
- Het verhuren of huren van roerende goederen.
- 4.2 In ondergeschikte orde
Legal form clause
Registered office clause
Vlaamse Gewest, 2
Board rule
Samenstelling bestuursorgaan, 5
Algemene regeling bevoegdheden, meest uitgebreide machten om in alle omstandigheden namens de vennootschap alle handelingen te verrichten die nodig of dienstig…
Een bestuurder die belet is, kan op iedere door de wet toegelaten wijze volmacht geven aan een andere bestuurder om hem op een vergadering van het bestuursorgaa…
Auditor rule
Één of meer, commissarissen
General meeting rule
Oefent enkel de bevoegdheden uit die de wet haar toewijst, besluiten zijn bindend voor alle aandeelhouders, zelfs voor de afwezigen of voor hen die tegenstemden
Oefent de bevoegdheden uit die aan de algemene vergadering zijn toegekend, zonder mogelijkheid om deze over te dragen
Schriftelijk overeenkomstig de wettelijke formaliteiten, tenzij de betrokkenen uitdrukkelijk en schriftelijk hieraan verzaken
Plaats, datum, uur, agenda met opgave van te behandelen onderwerpen, alle eventuele andere gegevens die krachtens de wet daarin verplicht op te nemen zijn
Aandeelhouders mogen steeds deelnemen, geen voorwaarden voor toelating noch voor de uitoefening van het eventuele stemrecht voor zover hun rechten niet geschors…
De commissaris woont de algemene vergadering bij telkens wanneer deze te beraadslagen heeft op grond van een door de commissaris opgemaakt verslag, leden van he…
Alle stemgerechtigde aandeelhouders kunnen in persoon of bij volmacht stemmen, het bestuursorgaan mag de vorm van de volmachten bepalen
De aandeelhouders moeten ten minste in staat worden gesteld om rechtstreeks, gelijktijdig en ononderbroken kennis te nemen van de besprekingen en om hun stemrec…
Liquidation distribution
De op de betreffende aandelen gedane inbrengen bij hun uitgifte en eventueel later bijkomend gedane inbrengen zullen worden verdeeld tussen de vruchtgebruiker e…
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Capital and shareholders
Capital over the years
- 19-08-2026 Capital increase of 805,792 EUR · 7,748 new shares · in kind
- 19-08-2026 Capital increase of 681,330 EUR · 6,988 new shares · in kind
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 908,156 EUR awarded · 811,374 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 473,721 EUR | 452,398 EUR |
| 2024 | 2 | 9,000 EUR | 10,976 EUR |
| 2023 | 3 | 375,435 EUR | 323,000 EUR |
| 2022 | 1 | 50,000 EUR | 25,000 EUR |
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Of 81 companies in sector 03220 we hold annual accounts for 36. 15 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
Founded30-06-2022
Fiscal year end31-12
Activities, NACEBEL 2025
03220Fishing and aquaculture
72101Research and development on biotechnology
03210Fishing and aquaculture
Contact
Website
www.fishway.fish
E-mail
board@fishway.fish
E-invoicing
Reachable via Peppol
Peppol ID
0208:0787869632
Registered
27-03-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.