FONDAMENT
ActiveSummary
FONDAMENT has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €28k and a net result of €5k. Equity is shrinking by ~22% per year across the filed fiscal years. Its solvency ranks better than 26% of 15865 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71▲+67
Solvency33▲+2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.22 against 0.16 in 2023; short-term debt: 83.6% and cash: 2.2% of total assets), and 91.8% of the assets are financed with debt.
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Signals
Five 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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 2024Solvency, return and age of the figures
Solvency
8.2%
Return on assets
1.5%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-09-2025, 59 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
59 d late
2023
61 d late
2022
30 d late
2021
61 d late
2020
26 d late
2019
89 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€28k▲ 22.7%
2023 · €23k
Total assets
€344k▼ 5.6%
2023 · €365k
Net result
€5k
2023 · €-42k
Working capital
€-225k▲ 12.0%
2023 · €-256k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€23k▼ 32.2%€-14k€-30k▼ 125%€-40k▼ 29.8%€8k
Net result€17k▼ 18.8%€-17k€-34k▼ 94.3%€-42k▼ 25.3%€5k
Equity€116k▲ 16.6%€99k▼ 14.9%€65k▼ 34.1%€23k▼ 64.9%€28k▲ 22.7%
Total assets€327k▲ 0.8%€437k▲ 33.7%€416k▼ 4.7%€365k▼ 12.3%€344k▼ 5.6%
Debt€210k▼ 6.3%€338k▲ 60.7%€351k▲ 3.9%€342k▼ 2.6%€316k▼ 7.5%
Working capital€-115k▲ 14.5%€-223k▼ 93.6%€-231k▼ 3.9%€-256k▼ 10.5%€-225k▲ 12.0%
Staff (FTE)0.31▲ 233%1=0.6▼ 40.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €8k after a loss of €40k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €344k
Fixed assets
€281k ▼ 11.4%
Current assets
€63k ▲ 33.5%
Equity and liabilities €344k
Equity
€28k ▲ 22.7%
Debt
€316k ▼ 7.5%
Debt's share of the balance-sheet total falls from 93.7% to 91.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44k▲
2023 · €-3k
Cash flow
€41k▲
2023 · €-6k
Current ratio
0.22▲
2023 · 0.16
Debt to equity
11.24▼
2023 · 14.91
ROE
18.5%▲
2023 · -184.7%
ROA
1.5%▲
2023 · -11.6%
Interest coverage
15.73▲
2023 · -1.03
Debt ≤ 1 year
€288k▼
2023 · €303k
Debt > 1 year
€28k▼
2023 · €39k
Staff costs
€32k▼
2023 · €38k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €13k | €44k | €38k | €32k | ▼ 14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19k | €28k | €39k | €37k | €36k | ▼ 0.9% |
| Other operating charges640/8 | - | €3k | €3k | €3k | €4k | ▲ 33.1% |
| Gross operating margin9900 | €45k | €30k | €56k | €38k | €80k | ▲ 113% |
| Operating profit (loss)9901 | €23k | €-14k | €-30k | €-40k | €8k | ▲ 120% |
| Financial income75/76B | - | €0 | €0 | €0 | - | - |
| Recurring financial income75 | €8 | €0 | €0 | €0 | - | - |
| Financial charges65/66B | - | €4k | €3k | €3k | €3k | ▼ 1.6% |
| Recurring financial charges65 | €4k | €4k | €3k | €3k | €3k | ▼ 1.6% |
| Profit (loss) for the period before taxes9903 | €19k | €-17k | €-34k | €-42k | €5k | ▲ 112% |
| Income taxes67/77 | €3k | - | - | €-58 | - | - |
| Profit (loss) for the period9904 | €17k | €-17k | €-34k | €-42k | €5k | ▲ 112% |
| Profit (loss) for the period to be appropriated9905 | €17k | €-17k | €-34k | €-42k | €5k | ▲ 112% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €327k | €437k | €416k | €365k | €344k | ▼ 5.6% |
| Fixed assets21/28 | €308k | €386k | €348k | €318k | €281k | ▼ 11.4% |
| Tangible fixed assets22/27 | €183k | €262k | €224k | €193k | €157k | ▼ 18.8% |
| Land and buildings22 | - | €131k | €125k | €121k | €115k | ▼ 5.4% |
| Plant, machinery and equipment23 | - | €6k | €3k | €2k | €979 | ▼ 56.6% |
| Furniture and vehicles24 | - | €100k | €79k | €57k | €36k | ▼ 37.1% |
| Leasing and similar rights25 | - | €24k | €17k | €10k | €3k | ▼ 66.7% |
| Other tangible fixed assets26 | - | - | - | €2k | €1k | ▼ 25.0% |
| Financial fixed assets28 | €124k | €125k | €125k | €125k | €125k | = |
| Current assets29/58 | €19k | €51k | €68k | €47k | €63k | ▲ 33.5% |
| Amounts receivable within one year40/41 | €16k | €37k | €63k | €41k | €54k | ▲ 29.7% |
| Trade receivables40 | - | €13k | €41k | €41k | €51k | ▲ 24.4% |
| Other amounts receivable41 | - | €24k | €22k | €607 | €3k | ▲ 383% |
| Cash at bank and in hand54/58 | €2k | €11k | €2k | €4k | €8k | ▲ 98.8% |
| Deferred charges and accrued income490/1 | - | €2k | €3k | €2k | €2k | ▼ 7.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €327k | €437k | €416k | €365k | €344k | ▼ 5.6% |
| Equity10/15 | €116k | €99k | €65k | €23k | €28k | ▲ 22.7% |
| Contributions10/11 | - | €100k | €100k | €100k | €100k | = |
| Reserves13 | €16k | - | - | - | - | - |
| Profit (loss) carried forward14 | €-20k | €-926 | €-35k | €-77k | €-72k | ▲ 6.7% |
| Amounts payable17/49 | €210k | €338k | €351k | €342k | €316k | ▼ 7.5% |
| Amounts payable after more than one year17 | €76k | €64k | €52k | €39k | €28k | ▼ 27.5% |
| Financial debts170/4 | - | €64k | €52k | €39k | €28k | ▼ 27.5% |
| Amounts payable within one year42/48 | €134k | €274k | €299k | €303k | €288k | ▼ 4.9% |
| Current portion of amounts payable after more than one year42 | - | €12k | €12k | €18k | €11k | ▼ 40.8% |
| Trade debts44 | €10k | €16k | €55k | €24k | €34k | ▲ 40.0% |
| Suppliers440/4 | - | €16k | €55k | €24k | €34k | ▲ 40.0% |
| Taxes, remuneration and social security45 | - | €4k | €180 | €3k | €4k | ▲ 32.9% |
| Taxes450/3 | - | €3k | - | - | €4k | - |
| Remuneration and social security454/9 | - | €2k | €180 | €3k | - | - |
| Other amounts payable47/48 | - | €241k | €232k | €258k | €239k | ▼ 7.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17k | €-17k | €-34k | €-42k | €5k | ▲ 112% |
| + Depreciation and write-downs630 | €19k | €28k | €39k | €37k | €36k | ▼ 0.9% |
| Operating cash flow (approximation) | €36k | €11k | €5k | €-6k | €41k | ▲ 823% |
| Investment in fixed assets (approximation) | - | €-107k | €-2k | €-6k | €0 | ▲ 100% |
| Change in cash | - | €10k | €-9k | €2k | €4k | ▲ 120% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2025
28-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 59 days late
2024
31-12
Financial
Back to profitnet €5k
Net result €5k after 3 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-42k
Net result drops to €-42k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Equity above €100kEq €116k ▲16.6%
3 profitable years in a row build equity to €116k.
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
31-12
Financial
Highest result since 2018net €20k ▲45.8%
Operating result €35k, net result €20k, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
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, Lubbeek · 2 establishment units since 2006
Ground area
1.0 ha
Building footprint
411 m²
Volume, LiDAR
2,222 m³
2 parcels, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
FONDAMENT
since 20062.161.626.786
Fondament
since 20232.346.555.011
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24066F0355/00B000 | Flanders | 8,472 m² | 1 · 184 m² | 9.8 m · 2 fl. |
| 24106D0174/00B002 | Flanders | 1,879 m² | 1 · 227 m² | 5.9 m · 1 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 1,743 companies in sector 46150 we hold annual accounts for 758. 521 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
Founded25-10-2006
Fiscal year end31-12
Activities, NACEBEL 2025
46150Agents in the wholesale of furniture, household goods and hardware
46130Agents in the wholesale of timber and building materials
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.