FL DEVELOPMENT
ActiveSummary
The computed 12-month bankruptcy probability of FL DEVELOPMENT is 3.7% (moderate). The 2025 annual accounts show equity of €5,249 and a net result of -€2,258. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 24% of 18606 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability67▲+12
Solvency28▼-2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
3.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.67 against 0.45 in 2024; short-term debt: 85.9% and cash: 8.5% of total assets), and 96.9% of the assets are financed with debt.
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Signals
Seven 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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 2025Solvency, return and age of the figures
Solvency
3.1%
Return on assets
-1.3%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€2,258
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 18606 sector peers (2025).
NBB · sector comparisonPosition among 18606 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-01-2026, 8 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
8 d early
2024
4 d late
2023
131 d early
2022
8 d late
2021
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 25 days before 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€5,249▼ 30.1%
2024 · €7,507
Total assets
€167,632▲ 15.3%
2024 · €145,405
Net result
-€2,258▲ 85.7%
2024 · -€15,738
Working capital
-€46,867▲ 23.3%
2024 · -€61,098
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-€9,176--€6,121▲ 33.3%€28,046-€4,452-€2,550▲ 42.7%
Net result-€11,110below the sector's middle half--€6,504below the sector's middle half▲ 41.5%€28,859above the sector's middle half-€15,738below the sector's middle half-€2,258within the sector's middle half▲ 85.7%
Equity€890below the sector's middle half--€5,614below the sector's middle half€23,245within the sector's middle half€7,507within the sector's middle half▼ 67.7%€5,249within the sector's middle half▼ 30.1%
Total assets€222,681within the sector's middle half-€201,312within the sector's middle half▼ 9.6%€203,492within the sector's middle half▲ 1.1%€145,405within the sector's middle half▼ 28.5%€167,632within the sector's middle half▲ 15.3%
Debt€221,791-€206,926▼ 6.7%€180,247▼ 12.9%€137,898▼ 23.5%€162,383▲ 17.8%
Working capital-€59,047below the sector's middle half--€84,987below the sector's middle half▼ 43.9%-€41,395below the sector's middle half▲ 51.3%-€61,098below the sector's middle half▼ 47.6%-€46,867below the sector's middle half▲ 23.3%
Solvency0.4%below the sector's middle half--2.8%below the sector's middle half▼ 3.2pp11.4%within the sector's middle half▲ 14.2pp5.2%within the sector's middle half▼ 6.3pp3.1%below the sector's middle half▼ 2.0pp
Current ratio0.60below the sector's middle half-0.36below the sector's middle half▼ 0.240.66below the sector's middle half▲ 0.300.45below the sector's middle half▼ 0.200.67below the sector's middle half▲ 0.22
Return on assets (ROA)-5.0%below the sector's middle half--3.2%within the sector's middle half▲ 1.8pp14.2%above the sector's middle half▲ 17.4pp-10.8%below the sector's middle half▼ 25.0pp-1.3%within the sector's middle half▲ 9.5pp
Staff (FTE)1.5-1.5=2▲ 33.3%2=2=
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 stays negative: a loss of €2,550 in 2025 against €4,452 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €167,632
Fixed assets
€70,455 ▼ 25.8%
Current assets
€97,177 ▲ 92.4%
Equity and liabilities €167,632
Equity
€5,249 ▼ 30.1%
Debt
€162,383 ▲ 17.8%
Debt's share of the balance-sheet total rises from 94.8% to 96.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€21,896▼
2024 · €24,922
Cash flow
€22,188▲
2024 · €13,637
Quick ratio
0.44▲
2024 · 0.22
Debt to equity
30.94▲
2024 · 18.37
ROE
-43.0%▲
2024 · -209.6%
Interest coverage
10.10▼
2024 · 17.75
Debt ≤ 1 year
€144,044▲
2024 · €111,602
Debt > 1 year
€18,339▼
2024 · €26,295
Income taxes
-€2,445▼
2024 · €9,899
Staff costs
€95,544▲
2024 · €87,432
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 849 companies that looked in July 2024 the way this one looks now, 3.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a small loss
3.9%
went bankrupt
3.3%
stopped otherwise
92%
still going
A further 0.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.7% 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 849 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €285 | - | - | - |
| Remuneration, social security and pensions62 | - | €86,919 | €85,659 | €87,432 | €95,544 | ▲ 9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,991 | €26,487 | €30,020 | €29,374 | €24,446 | ▼ 16.8% |
| Other operating charges640/8 | - | €3,722 | €1,015 | €3,915 | €4,225 | ▲ 7.9% |
| Non-recurring operating charges66A | - | - | - | - | €784 | - |
| Gross operating margin9900 | €160,204 | €111,007 | €144,740 | €116,270 | €122,448 | ▲ 5.3% |
| Operating profit (loss)9901 | -€9,176 | -€6,121 | €28,046 | -€4,452 | -€2,550 | ▲ 42.7% |
| Financial income75/76B | - | €1,057 | €2,160 | €17 | €14 | ▼ 14.8% |
| Recurring financial income75 | €87 | €1,057 | €2,160 | €17 | €14 | ▼ 14.8% |
| Financial charges65/66B | - | €1,440 | €1,175 | €1,404 | €2,167 | ▲ 54.4% |
| Recurring financial charges65 | €1,771 | €1,440 | €1,175 | €1,404 | €2,167 | ▲ 54.4% |
| Profit (loss) for the period before taxes9903 | -€10,860 | -€6,504 | €29,031 | -€5,839 | -€4,703 | ▲ 19.5% |
| Income taxes67/77 | €250 | - | €172 | €9,899 | -€2,445 | ▼ 125% |
| Profit (loss) for the period9904 | -€11,110 | -€6,504 | €28,859 | -€15,738 | -€2,258 | ▲ 85.7% |
| Profit (loss) for the period to be appropriated9905 | -€11,110 | -€6,504 | €28,859 | -€15,738 | -€2,258 | ▲ 85.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €222,681 | €201,312 | €203,492 | €145,405 | €167,632 | ▲ 15.3% |
| Fixed assets21/28 | €135,175 | €154,295 | €124,275 | €94,901 | €70,455 | ▼ 25.8% |
| Tangible fixed assets22/27 | €135,175 | €154,295 | €124,275 | €94,901 | €70,455 | ▼ 25.8% |
| Plant, machinery and equipment23 | - | €93,866 | €81,872 | €69,878 | €57,884 | ▼ 17.2% |
| Furniture and vehicles24 | - | €60,429 | €42,403 | €25,023 | €12,571 | ▼ 49.8% |
| Current assets29/58 | €87,506 | €47,017 | €79,217 | €50,504 | €97,177 | ▲ 92.4% |
| Stocks and contracts in progress3 | €24,378 | €28,056 | €30,357 | €25,905 | €33,716 | ▲ 30.2% |
| Stocks30/36 | - | - | €7,453 | €9,459 | €10,806 | ▲ 14.2% |
| Contracts in progress37 | - | €28,056 | €22,904 | €16,446 | €22,910 | ▲ 39.3% |
| Amounts receivable within one year40/41 | €18,562 | €12,854 | €29,247 | €20,235 | €49,202 | ▲ 143% |
| Trade receivables40 | - | €11,336 | €29,247 | €18,235 | €49,202 | ▲ 170% |
| Other amounts receivable41 | - | €1,518 | - | €2,000 | - | - |
| Cash at bank and in hand54/58 | €43,170 | €6,107 | €15,067 | €4,364 | €14,259 | ▲ 227% |
| Deferred charges and accrued income490/1 | - | - | €4,546 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €222,681 | €201,312 | €203,492 | €145,405 | €167,632 | ▲ 15.3% |
| Equity10/15 | €890 | -€5,614 | €23,245 | €7,507 | €5,249 | ▼ 30.1% |
| Contributions10/11 | - | €12,000 | €12,000 | €12,000 | €12,000 | = |
| Profit (loss) carried forward14 | -€11,110 | -€17,614 | €11,245 | -€4,493 | -€6,751 | ▼ 50.3% |
| Amounts payable17/49 | €221,791 | €206,926 | €180,247 | €137,898 | €162,383 | ▲ 17.8% |
| Amounts payable after more than one year17 | €75,238 | €74,922 | €59,635 | €26,295 | €18,339 | ▼ 30.3% |
| Financial debts170/4 | - | €59,922 | €34,635 | €11,295 | €3,339 | ▼ 70.4% |
| Other amounts payable178/9 | - | €15,000 | €25,000 | €15,000 | €15,000 | = |
| Amounts payable within one year42/48 | €146,553 | €132,004 | €120,612 | €111,602 | €144,044 | ▲ 29.1% |
| Financial debts43 | - | €25,008 | €25,287 | €23,339 | €20,957 | ▼ 10.2% |
| Credit institutions430/8 | - | €25,008 | €25,287 | €23,339 | €20,957 | ▼ 10.2% |
| Trade debts44 | €30,512 | €27,405 | €42,740 | €37,669 | €68,409 | ▲ 81.6% |
| Suppliers440/4 | - | €27,405 | €42,740 | €37,669 | €68,409 | ▲ 81.6% |
| Advances received on contracts in progress46 | - | €66,073 | €44,782 | €22,498 | €32,203 | ▲ 43.1% |
| Taxes, remuneration and social security45 | - | €13,518 | €7,803 | €28,096 | €22,475 | ▼ 20.0% |
| Taxes450/3 | - | - | €777 | €11,378 | €6,607 | ▼ 41.9% |
| Remuneration and social security454/9 | - | €13,518 | €7,026 | €16,718 | €15,868 | ▼ 5.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,110 | -€6,504 | €28,859 | -€15,738 | -€2,258 | ▲ 85.7% |
| + Depreciation and write-downs630 | €27,991 | €26,487 | €30,020 | €29,374 | €24,446 | ▼ 16.8% |
| Operating cash flow (approximation) | €16,881 | €19,983 | €58,879 | €13,637 | €22,188 | ▲ 62.7% |
| Investment in fixed assets (approximation) | - | -€45,607 | €0 | -€0 | €0 | ▲ 100% |
| Change in cash | - | -€37,063 | €8,960 | -€10,703 | €9,895 | ▲ 192% |
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
23-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
30-06
Financial
Weakest financial yearnet -€15,738
Net result drops to -€15,738, the lowest in the series; recovery starts the following year.
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Back to profitnet €28,859
Net result €28,859 after 2 loss-making years.
08-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 8 days late
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ukkel · 1 establishment unit since 2019
Ground area
6.8 ha
Building footprint
3,854 m²
Volume, LiDAR
35,085 m³
Parcel 21612C0293/00S002, Brussels · tallest building 18.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FL DEVELOPMENT
since 20192.296.016.229
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0293/00S002 | Brussels | 6.8 ha | 1 · 3,854 m² | 18.2 m · 3 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.
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MIAN MODE
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Of 276 companies in sector 47519 we hold annual accounts for 130. 69 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
Founded17-10-2019
Fiscal year end30-06
Activities, NACEBEL 2025
47519Retail trade
43240Other construction installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0736511991
Registered
21-05-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.