Losses
-€700,773 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
Fleming Invest
Lifetime
3 annual accounts with figures on one time axispeak €108,003 (2024)
€22,393▼ 79.3%
lowest -€509,943 (2023)
-€88,754▲ €13,321
peak €2.6m (2024)
€2.6m▼ 3.4%
€131,547▲ 978%
peak 1 FTE (2023)
0 FTE▼ 100%
Board6 names since 2022
3 directorsMadix SRL and 2 others
Owners
100%SOPARMIN
Documentsfilings and deeds
30-06-202631 days before the deadline
2025abbreviated format
Gross margin from €108,003 to €22,393Loss of €88,754Staff from 1 FTE to 0 FTEDebts from €12,203 to €131,547Cash from €87,515 to €723
Key points
from the 2025 annual accountsDebts
€131,547 ▲ 978%
Debts rose by €119,344 in 2025.
Position in the sector
-€88,754
Lower net result than 88% of companies in real estate. Sector median €9,988 · 11,288 companies.
Checked score
84
Excellent
Financially stronger than 60% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.4%▲ +0.1 percentage points vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.2%▼ -0.2 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025lowest value
02-2026: 0.2%● unchanged vs 01-2026lowest value
03-2026: 0.3%▲ +0.1 percentage points vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026
08-2026: 0.4%● unchanged vs 07-2026
09-2026: 0.5%▲ +0.1 percentage points vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026highest value
11-2026: 0.5%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 13.94, cash €723, halved
Founded in 2022
lowers risk
Sector: Real estate activities (NACE 68)
Figures for financial year 2025 (filed on 30-06-2026)
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, small). It does better than 92% of them on solvency, 54% on liquidity, 62% on profitability and 31% on growth.
The bankruptcy probability was computed on 10-11-2026 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 31-12-2025.
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, 480 companies had the same profile as Fleming Invest has now. Each dot is one company, two years later.
95.8%
were still trading
3.1%
stopped another way
0.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Fleming Invest itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,448 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 480 companies, not a prediction for Fleming Invest. 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 €210,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 13.94, above the usual 1.5. Short-term debt is 3.7% and cash 0% of total assets. 4.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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
232425
2023 to 2025 · latest year -€88,754
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
31 days early
2024
9 days early
2023
27 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 22 days before 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 next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 5 July (3 of the last 3 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
MS
Madix SRL
Director, Uyttenhove Geoffroy, since 30-09-2024
MI
Mima Investment SA
Director, Minne Jean, since 30-09-2024
PA
P&A Advices SRL
Director, Martin Pierrick, since 30-09-2024
- SOPARMIN 100%score 79equity €2.6m (2025) · annual accounts 2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0797025046
3 directors appointed, 2 resignations
Appointments: Mima Investment SA, P&A Advices SRL and Madix SRL · Permanent representatives: Minne Jean, Martin Pierrick and Uyttenhove Geoffroy · Resignations: De Moerloose Philippe and De Moerloose Kevin · General meeting of 30-09-2024 · Gazette deed
Resignation: BDO BEDRIJFSREVISOREN - BDO REVISEURS D'ENTREPRISES BV CVBA (statutory auditor)
General meeting of 22-10-2024 · Gazette deed
Appointment: Kevin DE MOERLOOSE (director)
Philippe de MOERLOOSE holds all the shares · General meeting of 20-02-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Fleming Invest Wavre | €2.7m | €22,393 | 95.1% | 0 |
| Factor 10 Brasschaat | €2.9m | €26,962 | 49.2% | 0 |
| Faubourg Retail Woluwe-Saint-Lambert | €2.2m | €11,040 | -2.3% | 0 |
| BC Luiker Kortrijk | €2.1m | €13,349 | 79.9% | 0 |
| Plaza Properties Etterbeek | €3.9m | €13,068 | -112.4% | 0 |
| EvRest Bastogne | €1.3m | €12,496 | 19.0% | 0 |
| ADITCO PROPERTIES Roeselare | €1.6m | €45,788 | -3.7% | 0 |
These companies have the same main activity as Fleming Invest: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €1.3m and €3.9m, founded between 2020 and 2024.
Official details
Source: KBO- Status
- Active since 29-12-2022Normal situation
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203and 1 other
- Establishment unit
- 2.340.550.1171300 Wavre, since 29-12-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 27-03-2026
Annual accounts 2025
- ≈ €78,000estimated
- €2.7m▲ 1.2%
- Filing
- Filed on 30-06-2026, 31 days before the end of the filing period
Insights on Fleming Invest
Fleming Invest files the abbreviated format. That format states no turnover. The gross margin rose from -€117,778 in 2023 to €22,393 in 2025.
SOPARMIN holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Fleming Invest
- What is the company number of Fleming Invest?
- The company number of Fleming Invest is 0797.025.046. The VAT number is the same number with BE in front: BE 0797.025.046.
- Where is Fleming Invest based?
- The registered office is at Avenue Fleming 4, 1300 Wavre.Company details
- What does Fleming Invest do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of Fleming Invest?
- Fleming Invest is a private limited company (BV).
- When was Fleming Invest founded?
- Fleming Invest was founded on 29-12-2022.
- Is Fleming Invest still active?
- Yes, Fleming Invest is an active enterprise in the KBO register.
- How many employees does Fleming Invest have?
- Fleming Invest had an average of 1 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of Fleming Invest?
- The turnover in financial year 2025 is ≈ €78,000. This figure is estimated from the gross margin of €22,393 and 31 comparable companies (NACE 68203). It probably lies between €30,000 and €180,000. It is a rough estimate. In financial year 2023 turnover was €773,391.
- Is Fleming Invest profitable?
- In financial year 2025, Fleming Invest made a loss of €88,754.
- Where can I find the annual accounts of Fleming Invest?
- Fleming Invest filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Fleming Invest due?
- Fleming Invest must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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