FLOBEL
ActiveSummary
FLOBEL has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €14,816 and a net result of -€2,855. Equity is growing by ~71.9% per year across the filed fiscal years. Its solvency ranks better than 16% of 4663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability31▼-12
Solvency27▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 2.07 against 2.66 in 2024; short-term debt: 43.7% and cash: 0.4% of total assets), but 97.6% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
2.4%
Return on assets
-0.5%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 4663 sector peers (2025).
NBB · sector comparisonPosition among 4663 sector peers
Solvency
better than 16%
← 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 15-12-2025, 47 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
47 d early
2024
36 d early
2023
48 d early
2022
33 d early
2021
45 d early
2020
40 d early
2019
65 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 45 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 17 December (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#5 oldest company in Sint-Pieters-Woluwe, Real estate sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2,855
2024 · €9,183
Working capital
€293,423▼ 16.2%
2024 · €350,054
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€19,701▲ 0.2%€18,419▼ 6.5%€19,794▲ 7.5%€17,582▼ 11.2%€11,631▼ 33.8%
Net result€12,315within the sector's middle half▲ 5.1%€11,370within the sector's middle half▼ 7.7%€13,106within the sector's middle half▲ 15.3%€9,183within the sector's middle half▼ 29.9%-€2,855within the sector's middle half
Equity-€15,988below the sector's middle half▲ 43.5%-€4,618below the sector's middle half▲ 71.1%€8,488below the sector's middle half€17,670below the sector's middle half▲ 108%€14,816below the sector's middle half▼ 16.2%
Total assets€582,545below the sector's middle half▼ 0.2%€581,243below the sector's middle half▼ 0.2%€595,353below the sector's middle half▲ 2.4%€589,953below the sector's middle half▼ 0.9%€629,637below the sector's middle half▲ 6.7%
Debt€598,533▼ 2.2%€585,861▼ 2.1%€586,866▲ 0.2%€572,283▼ 2.5%€614,821▲ 7.4%
Working capital€387,990within the sector's middle half▼ 1.9%€378,909within the sector's middle half▼ 2.3%€354,550within the sector's middle half▼ 6.4%€350,054within the sector's middle half▼ 1.3%€293,423within the sector's middle half▼ 16.2%
Solvency-2.7%below the sector's middle half▲ 2.1pp-0.8%below the sector's middle half▲ 2.0pp1.4%below the sector's middle half▲ 2.2pp3.0%below the sector's middle half▲ 1.6pp2.4%below the sector's middle half▼ 0.6pp
Current ratio3.24within the sector's middle half▼ 0.163.07above the sector's middle half▼ 0.172.71within the sector's middle half▼ 0.362.66within the sector's middle half▼ 0.062.07within the sector's middle half▼ 0.59
Return on assets (ROA)2.1%within the sector's middle half▲ 0.1pp2.0%within the sector's middle half▼ 0.2pp2.2%within the sector's middle half▲ 0.2pp1.6%within the sector's middle half▼ 0.6pp-0.5%within the sector's middle half▼ 2.0pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 34% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €629,637
Fixed assets
€60,958 ▲ 115%
Current assets
€568,678 ▲ 1.3%
Equity and liabilities €629,637
Equity
€14,816 ▼ 16.2%
Debt
€614,821 ▲ 7.4%
Debt's share of the balance-sheet total rises from 97.0% to 97.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€21,588▼
2024 · €22,867
Cash flow
€7,102▼
2024 · €14,467
Debt to equity
41.50▲
2024 · 32.39
ROE
-19.3%▼
2024 · 52.0%
Interest coverage
1.49▼
2024 · 2.72
Debt ≤ 1 year
€275,255▲
2024 · €211,504
Debt > 1 year
€339,566▼
2024 · €360,779
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,104 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency under 10%
- a small loss
1.8%
went bankrupt
3.6%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,104 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,261 | €2,169 | €2,741 | €5,284 | €9,956 | ▲ 88.4% |
| Other operating charges640/8 | - | €1,241 | €2,704 | €2,389 | €2,541 | ▲ 6.4% |
| Gross operating margin9900 | €27,670 | €21,829 | €25,240 | €25,256 | €24,129 | ▼ 4.5% |
| Operating profit (loss)9901 | €19,701 | €18,419 | €19,794 | €17,582 | €11,631 | ▼ 33.8% |
| Financial charges65/66B | - | €7,049 | €6,689 | €8,400 | €14,486 | ▲ 72.5% |
| Recurring financial charges65 | €7,386 | €7,049 | €6,689 | €8,400 | €14,486 | ▲ 72.5% |
| Profit (loss) for the period before taxes9903 | €12,315 | €11,370 | €13,106 | €9,183 | -€2,855 | ▼ 131% |
| Profit (loss) for the period9904 | €12,315 | €11,370 | €13,106 | €9,183 | -€2,855 | ▼ 131% |
| Profit (loss) for the period to be appropriated9905 | €12,315 | €11,370 | €13,106 | €9,183 | -€2,855 | ▼ 131% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €582,545 | €581,243 | €595,353 | €589,953 | €629,637 | ▲ 6.7% |
| Fixed assets21/28 | €21,361 | €19,192 | €33,679 | €28,395 | €60,958 | ▲ 115% |
| Tangible fixed assets22/27 | €20,237 | €18,068 | €32,555 | €27,271 | €59,834 | ▲ 119% |
| Land and buildings22 | - | €10,964 | €10,964 | €10,964 | €10,964 | = |
| Other tangible fixed assets26 | - | €7,104 | €21,591 | €16,307 | €48,871 | ▲ 200% |
| Financial fixed assets28 | €1,124 | €1,124 | €1,124 | €1,124 | €1,124 | = |
| Current assets29/58 | €561,184 | €562,051 | €561,675 | €561,559 | €568,678 | ▲ 1.3% |
| Amounts receivable within one year40/41 | €559,145 | €559,145 | €559,145 | €559,145 | €564,145 | ▲ 0.9% |
| Other amounts receivable41 | - | €559,145 | €559,145 | €559,145 | €564,145 | ▲ 0.9% |
| Cash at bank and in hand54/58 | €1,146 | €1,522 | €967 | €2,414 | €2,816 | ▲ 16.7% |
| Deferred charges and accrued income490/1 | - | €1,383 | €1,563 | - | €1,717 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €582,545 | €581,243 | €595,353 | €589,953 | €629,637 | ▲ 6.7% |
| Equity10/15 | -€15,988 | -€4,618 | €8,488 | €17,670 | €14,816 | ▼ 16.2% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €63,099 | €63,099 | €63,099 | €63,099 | €63,099 | = |
| Non-distributable reserves130/1 | - | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Legal reserve130 | - | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Distributable reserves133 | - | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Profit (loss) carried forward14 | -€141,087 | -€129,717 | -€116,611 | -€107,428 | -€110,283 | ▼ 2.7% |
| Amounts payable17/49 | €598,533 | €585,861 | €586,866 | €572,283 | €614,821 | ▲ 7.4% |
| Amounts payable after more than one year17 | €425,339 | €402,719 | €379,741 | €360,779 | €339,566 | ▼ 5.9% |
| Financial debts170/4 | - | €402,719 | €379,741 | €360,779 | €339,566 | ▼ 5.9% |
| Amounts payable within one year42/48 | €173,194 | €183,142 | €207,124 | €211,504 | €275,255 | ▲ 30.1% |
| Current portion of amounts payable after more than one year42 | - | €22,620 | €22,978 | €18,963 | €21,213 | ▲ 11.9% |
| Trade debts44 | €1,786 | €4,035 | €2,862 | €1,162 | €13,026 | ▲ 1,021% |
| Suppliers440/4 | - | €4,035 | €2,862 | €1,162 | €13,026 | ▲ 1,021% |
| Other amounts payable47/48 | - | €156,487 | €181,285 | €191,380 | €241,017 | ▲ 25.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,315 | €11,370 | €13,106 | €9,183 | -€2,855 | ▼ 131% |
| + Depreciation and write-downs630 | €2,261 | €2,169 | €2,741 | €5,284 | €9,956 | ▲ 88.4% |
| Operating cash flow (approximation) | €14,576 | €13,539 | €15,847 | €14,467 | €7,102 | ▼ 50.9% |
| Investment in fixed assets (approximation) | - | €0 | -€17,228 | €0 | -€42,520 | - |
| Change in cash | - | €377 | -€556 | €1,447 | €403 | ▼ 72.2% |
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
2025
15-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-06
Financial
Weakest financial yearnet -€2,855
Net result drops to -€2,855, the lowest in the series.
2024
26-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
14-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
30-06
Financial
Highest result since 2019net €13,106 ▲15.3%
Operating result €19,794, net result €13,106, both a record.
2022
29-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
19-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
29-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
08-03
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 37 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Pieters-Woluwe · 1 establishment unit since 1978
Ground area
1,187 m²
Building footprint
380 m²
Volume, LiDAR
6,332 m³
2 parcels, Brussels · tallest building 24.7 m, ±7 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Armand Huysmanslaan 32, 1050 Elsene
since 19782.102.228.738
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445C0262/00S024 | Brussels | 750 m² | 1 · 265 m² | 24.7 m · 7 fl. |
| 21684B0063/00K009 | Brussels | 437 m² | 1 · 115 m² | 13.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,749 companies in this sector we hold annual accounts for 6,910. 3,502 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded01-02-1978
Fiscal year end30-06
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0418121666
Also
9925:BE0418121666
Registered
18-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.