FOFAN
Open bankruptcyA bankruptcy procedure is open for FOFAN according to publications in the Belgian State Gazette; curator: BRIGITTE VANDER MEULEN. The 2024 annual accounts show equity of €486k and a net result of €-214k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
30 d late
2022
125 d early
2021
22 d late
2020
31 d early
2019
42 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€486k▼ 30.6%
2023 · €699k
2018: €2k
2019: €21k
2020: €25k
2021: €294k
2022: €687k
2023: €699k
2018 → 2024
Total assets
€1.30M▼ 31.4%
2023 · €1.90M
2018: €459k
2019: €485k
2020: €1.73M
2021: €2.51M
2022: €2.29M
2023: €1.90M
2018 → 2024
Net result
€-214k
2023 · €13k
2018: €51k
2019: €19k
2020: €134k
2021: €269k
2022: €728k
2023: €13k
2018 → 2024
Working capital
€400k▼ 34.0%
2023 · €605k
2018: €-60k
2019: €-10k
2020: €-20k
2021: €203k
2022: €630k
2023: €605k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€25k-€294k▲ 1,070%€687k▲ 134%€699k▲ 1.8%€486k▼ 30.6%
Operating result€187k-€373k▲ 99.4%€1.00M▲ 169%€38k▼ 96.2%€-201k
Net result€134k-€269k▲ 101%€728k▲ 171%€13k▼ 98.3%€-214k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €201k after €38k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.30M
Fixed assets
€105k▼ 18.4%
Current assets
€1.20M▼ 32.3%
Equity and liabilities €1.30M
Equity
€486k▼ 30.6%
Debt
€817k▼ 31.9%
The debt ratio falls from 63.2% to 62.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-160k▼
2023 · €75k
Cash flow
€-173k▼
2023 · €50k
Solvency
37.3%▲
2023 · 36.8%
Current ratio
1.50▼
2023 · 1.52
Quick ratio
0.79▼
2023 · 0.86
Debt / equity
1.68▼
2023 · 1.72
ROE
-44.0%▼
2023 · 1.8%
ROA
-16.4%▼
2023 · 0.7%
Interest coverage
-10.38▼
2023 · 3.06
Debt
€817k▼
2023 · €1.20M
Debt ≤ 1 year
€798k▼
2023 · €1.16M
Debt > 1 year
€19k▼
2023 · €27k
Income taxes
€2k▼
2023 · €7k
Staff costs
€733k▲
2023 · €579k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.90M€1.30M▼
Fixed assets21/28€129k€105k▼
Tangible fixed assets22/27€128k€104k▼
Land and buildings22€7k€4k▼
Plant, machinery and equipment23€6k€15k▲
Furniture and vehicles24€60k€38k▼
Other tangible fixed assets26€56k€47k▼
Financial fixed assets28€1k€1k=
Current assets29/58€1.77M€1.20M▼
Amounts receivable after more than one year29€213k€213k=
Other amounts receivable291€213k€213k=
Stocks and contracts in progress3€770k€568k▼
Stocks30/36€770k€568k▼
Amounts receivable within one year40/41€653k€396k▼
Trade receivables40€631k€106k▼
Other amounts receivable41€22k€291k▲
Cash at bank and in hand54/58€105k€13k▼
Deferred charges and accrued income490/1€29k€8k▼
Equity and liabilities
Total equity and liabilities10/49€1.90M€1.30M▼
Equity10/15€699k€486k▼
Contributions10/11€19k€19k=
Reserves13€681k€467k▼
Distributable reserves133€681k€467k▼
Amounts payable17/49€1.20M€817k▼
Amounts payable after more than one year17€27k€19k▼
Financial debts170/4€27k€19k▼
Amounts payable within one year42/48€1.16M€798k▼
Current portion of amounts payable after more than one year42€9k€7k▼
Financial debts43€300k€300k=
Credit institutions430/8€300k€300k=
Trade debts44€567k€390k▼
Suppliers440/4€567k€390k▼
Advances received on contracts in progress46€59k-
Taxes, remuneration and social security45€230k€60k▼
Taxes450/3€211k€47k▼
Remuneration and social security454/9€19k€14k▼
Other amounts payable47/48€108€40k▲
Accrued charges and deferred income492/3€8k-
Income statement
Code20232024
Non-recurring operating income76A€58k-
Remuneration, social security and pensions62€579k€733k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€37k€41k▲
Other operating charges640/8€11k€22k▲
Gross operating margin9900€664k€596k▼
Operating profit (loss)9901€38k€-201k▼
Financial income75/76B€6k€5k▼
Recurring financial income75€6k€5k▼
Financial charges65/66B€25k€15k▼
Recurring financial charges65€25k€15k▼
Profit (loss) for the period before taxes9903€19k€-212k▼
Income taxes67/77€7k€2k▼
Profit (loss) for the period9904€13k€-214k▼
Profit (loss) for the period to be appropriated9905€13k€-214k▼
Appropriation of the result
Profit (loss) to be appropriated9906€13k€-214k▼
Transfer from equity791/2-€214k
Transfer to equity691/2€13k-
To other reserves6921€13k-
Social balance
Average headcount (FTE)90879.310.5▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
06-03
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Brugge · FOFAN BV OOST- LAAN 1/BUS 1, 8850 ARDOOIE · event 02-03-2026
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-214k ▼1788%
Net result drops to €-214k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
28-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €728k ▲171%
Operating result €1.00M, net result €728k, both a record.
31-12
Financial
Equity above €500kEq €687k ▲134%
5 profitable years in a row build equity to €687k.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 22 days late
2021
31-12
Financial
Equity above €200kEq €294k ▲1070%
4 profitable years in a row build equity to €294k.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 42 days late
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
06-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
11-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
04-02-2026
OUTHSIDE PROJECTZ: Resigned as Director
27-03-2023
Joryar: Resigned as Director
29-01-2021
Vangeenberghe Francis: Resigned as Director
Location & real-estate footprint
Registered office, Ardooie · 1 establishment unit since 2014
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oostlaan 18850 ArdooieGround area
1.6 ha
Building footprint
4,564 m²
Volume, LiDAR
31,169 m³
2 parcels, Flanders · tallest building 9.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
NORMAN POORTEN
since 20142.229.656.450
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36505C0234/00P000 | Flanders | 1.3 ha | 1 · 3,344 m² | 9.6 m · 3 fl. |
| 36001D0064/00Y004 | Flanders | 3,208 m² | 1 · 1,220 m² | 6.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | BRIGITTE VANDER MEULEN Tramstraat 68, 8700 TIELT- |
02-03-2026 → present |
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 546 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 546 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 629 companies in sector 22240 we hold annual accounts for 360. 238 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-04-2014
Fiscal year end31-12
Activities, NACEBEL
22240Manufacture of rubber and plastic products
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.fofan.be
E-mail:info@fofan.be