FLANDERS DEVELOPMENT GROUP
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-01-2026 PDF all 16 filings
Turnover
≈ €780
Estimated: probably between €380 and €2,400
Total assets
€5.0m▲ 0.1%
2024 · €5.0m
Net result
-€224,050▲ 23.9%
2024 · -€294,386
Working capital
€5.0m=
2024 · €5.0m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€6,864
▼ 29.3%
2025
20192025
Net result
-€224,050
▲ 23.9%
2025
lowest quarter of the sector
20192025
Equity
-€294,876
▼ 316%
2025
lowest quarter of the sector
20192025
Total assets
€5.0m
▲ 0.1%
2025
highest quarter of the sector
20192025
Debt
€5.3m
▲ 4.4%
2025
20192025
Working capital
€5.0m
=
2025
highest quarter of the sector
20192025
Solvency
-5.9%
▼ 4.4pp
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-4.4%
▲ 1.4pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.02m--€0.02m▲ 13.4%-€0.01m▲ 38.1%-€0.02m▼ 45.5%€0.09m-€0.005m-€0.007m▼ 29.3%
Net result-€0.06m--€0.06mbelow the sector's middle half▲ 3.2%-€0.05mbelow the sector's middle half▲ 10.4%-€0.06mbelow the sector's middle half▼ 16.4%-€0.06mbelow the sector's middle half▲ 2.9%-€0.3mbelow the sector's middle half▼ 380%-€0.2mbelow the sector's middle half▲ 23.9%
Equity€0.5m-€0.4mwithin the sector's middle half▼ 13.1%€0.3mwithin the sector's middle half▼ 13.5%€0.3mwithin the sector's middle half▼ 18.1%€0.2mwithin the sector's middle half▼ 21.5%-€0.07mbelow the sector's middle half-€0.3mbelow the sector's middle half▼ 316%
Total assets€3.6m-€3.5mwithin the sector's middle half▼ 1.5%€3.1mwithin the sector's middle half▼ 11.2%€3.1mwithin the sector's middle half▼ 1.8%€5.0mabove the sector's middle half▲ 62.4%€5.0mwithin the sector's middle half▲ 0.8%€5.0mabove the sector's middle half▲ 0.1%
Debt€3.0m-€3.0m▲ 0.2%€2.7m▼ 11.3%€2.7m▲ 0.2%€4.8m▲ 77.7%€5.1m▲ 7.0%€5.3m▲ 4.4%
Working capital€3.6m-€3.5mabove the sector's middle half▼ 1.6%€3.1mabove the sector's middle half▼ 11.1%€3.1mabove the sector's middle half▼ 1.9%€5.0mabove the sector's middle half▲ 62.8%€5.0mabove the sector's middle half▲ 0.6%€5.0mabove the sector's middle half=
Solvency12.9%-11.4%within the sector's middle half▼ 1.5pp11.1%within the sector's middle half▼ 0.3pp9.3%below the sector's middle half▼ 1.8pp4.5%below the sector's middle half▼ 4.8pp-1.4%below the sector's middle half▼ 5.9pp-5.9%below the sector's middle half▼ 4.4pp
Return on assets (ROA)-1.7%--1.7%below the sector's middle half=-1.7%below the sector's middle half=-2.1%below the sector's middle half▼ 0.3pp-1.2%within the sector's middle half▲ 0.8pp-5.8%below the sector's middle half▼ 4.6pp-4.4%below the sector's middle half▲ 1.4pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €6,864, larger than the loss of €5,309 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Key figures and ratios
Quick ratio
1.95▼
2024 · 2.46
Debt ≤ 1 year
€22,324▲
2024 · €21,046
Debt > 1 year
€5.0m▲
2024 · €4.9m
A ratio outside any meaningful range has been withheld (balance sheet total €5.0m, equity -€294,876).
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €2.7m | €2.7m | €2.7m | €2.7m |
| Mortgages, amount registered | €25,000 | €25,000 | €25,000 | €25,000 |
| Mortgage mandates | €3.7m | €3.7m | €3.7m | €3.7m |
| Carrying value of the mortgaged assets | €3.0m | €3.4m | €3.4m | €3.4m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | -€106,240 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €15,193 | €13,870 | €5,285 | €7,051 | ▲ 33.4% |
| Gross operating margin9900 | -€6,389 | -€1,125 | -€1,524 | -€35 | -€387 | -€24 | €187 | - |
| Operating profit (loss)9901 | -€19,541 | -€16,925 | -€10,469 | -€15,229 | €91,983 | -€5,309 | -€6,864 | ▼ 29.3% |
| Recurring financial income75 | €0 | - | €50 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €47,897 | €153,294 | €289,077 | €217,186 | ▼ 24.9% |
| Recurring financial charges65 | €42,967 | €43,584 | €43,801 | €47,897 | €153,294 | €289,077 | €217,186 | ▼ 24.9% |
| Profit (loss) for the period before taxes9903 | -€62,508 | -€60,509 | -€54,220 | -€63,126 | -€61,311 | -€294,386 | -€224,050 | ▲ 23.9% |
| Profit (loss) for the period9904 | -€62,508 | -€60,509 | -€54,220 | -€63,126 | -€61,311 | -€294,386 | -€224,050 | ▲ 23.9% |
| Profit (loss) for the period to be appropriated9905 | -€62,508 | -€60,509 | -€54,220 | -€63,126 | -€61,311 | -€294,386 | -€224,050 | ▲ 23.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €3.6m | €3.5m | €3.1m | €3.1m | €5.0m | €5.0m | €5.0m | ▲ 0.1% |
| Current assets29/58 | €3.6m | €3.5m | €3.1m | €3.1m | €5.0m | €5.0m | €5.0m | ▲ 0.1% |
| Stocks and contracts in progress3 | €3.0m | €3.0m | €3.0m | €3.0m | €5.0m | €5.0m | €5.0m | ▲ 0.2% |
| Stocks30/36 | - | - | - | €3.0m | €5.0m | €5.0m | €5.0m | ▲ 0.2% |
| Amounts receivable within one year40/41 | €0.001m | €0.004m | €0.002m | €353 | €0.002m | €0.001m | €0.009m | ▲ 591% |
| Trade receivables40 | - | - | - | €200 | €0.001m | €0.001m | €0.009m | ▲ 12× |
| Other amounts receivable41 | - | - | - | €153 | €289 | €0.001m | €450 | ▼ 24.2% |
| Cash at bank and in hand54/58 | €0.6m | €0.5m | €0.1m | €0.08m | €0.02m | €0.05m | €0.03m | ▼ 37.4% |
| Deferred charges and accrued income490/1 | - | - | - | €115 | €183 | €0.001m | €0.003m | ▲ 471% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €3.6m | €3.5m | €3.1m | €3.1m | €5.0m | €5.0m | €5.0m | ▲ 0.1% |
| Equity10/15 | €0.5m | €0.4m | €0.3m | €0.3m | €0.2m | -€0.07m | -€0.3m | ▼ 316% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Profit (loss) carried forward14 | -€0.06m | -€0.1m | -€0.2m | -€0.2m | -€0.3m | -€0.6m | -€0.8m | ▼ 37.7% |
| Provisions and deferred taxes16 | €0.1m | €0.1m | €0.1m | €0.1m | €0 | - | - | - |
| Deferred taxes168 | - | - | - | €0.1m | €0 | - | - | - |
| Amounts payable17/49 | €3.0m | €3.0m | €2.7m | €2.7m | €4.8m | €5.1m | €5.3m | ▲ 4.4% |
| Amounts payable after more than one year17 | €3.0m | €3.0m | €2.7m | €2.7m | €4.7m | €4.9m | €5.0m | ▲ 2.7% |
| Financial debts170/4 | - | - | - | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Other amounts payable178/9 | - | - | - | - | €2.0m | €2.2m | €2.3m | ▲ 5.9% |
| Amounts payable within one year42/48 | €0.01m | €0.02m | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 6.1% |
| Financial debts43 | - | - | - | - | - | €0.01m | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | - | €0.01m | €0 | ▼ 100% |
| Trade debts44 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.02m | ▲ 94.4% |
| Suppliers440/4 | - | - | - | €0.01m | €0.01m | €0.01m | €0.02m | ▲ 94.4% |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0.06m | €0.2m | €0.3m | ▲ 46.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€62,508 | -€60,509 | -€54,220 | -€63,126 | -€61,311 | -€294,386 | -€224,050 | ▲ 23.9% |
| Operating cash flow (approximation) | -€62,508 | -€60,509 | -€54,220 | -€63,126 | -€61,311 | -€294,386 | -€224,050 | ▲ 23.9% |
| Change in cash | - | -€58,368 | -€392,855 | -€55,189 | -€54,171 | €28,426 | -€18,708 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,216 companies had the same profile as FLANDERS DEVELOPMENT GROUP has now. Two years later, 95.7% were still going and 1.1% had gone bankrupt.
- Small
- 10 to 20 years old
- negative equity
- a small loss
95.7%
was still going
2.6%
stopped otherwise
1.1%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FLANDERS DEVELOPMENT GROUP itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 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.
| 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 1,216 companies, not a prediction for FLANDERS DEVELOPMENT GROUP. 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.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 29-01-2026 | 2026-00023609 | |
| 30-06-2024 | abbreviated format | 17-01-2025 | 2025-00007110 | |
| 30-06-2023 | abbreviated format | 29-01-2024 | 2024-00010125 | |
| 30-06-2022 | abbreviated format | 23-12-2022 | 2022-20546570 | |
| 30-06-2021 | abbreviated format | 07-01-2022 | 2022-00600454 | |
| 30-06-2020 | abbreviated format | 17-12-2020 | 2020-76300149 | |
| 30-06-2019 | abbreviated format | 18-12-2019 | 2019-76700424 | |
| 30-06-2018 | abbreviated format | 31-01-2019 | 2019-03900101 | |
| 30-09-2016 | abbreviated format | 28-03-2017 | 2017-07500416 | |
| 30-09-2015 | abbreviated format | 30-11-2015 | 2015-67800551 |