FONVIM
ActiveSummary
FONVIM has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €2.5m and a net result of €518,296. Its solvency ranks better than 90% of 121 sector peers (NACE 68, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €2.5m
- Profit
- €518,296
- NOIRFALISSE Gérald Jean Marie Ghislain JulienChair
- NOIRFALISSE Jean-Luc Marie Charles Albert GhislainDirector
- NOIRFALISSE Philippe Marie Mathieu Henri RenéDirector
Why 98lowers riskSector: Real estate activities (NACE 68)Liquidity: current ratio 4.28, cash €1.2mFigures for financial year 2026 (filed 29-07-2026)Size: total assets €2.9mShow the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 92% on solvency, 98% on liquidity, 96% on profitability and 63% on growth.
The bankruptcy probability was computed on 21-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (2)
- Annual accounts filedfinancial year 2026 · full…
- Annual accounts filedfinancial year 2025 · full…
- IncorporationAppointments: NOIRFALISSE Philippe Marie Mathieu…
Financials · financial year 2026, full format
2025 to 2026, 2 financial years
The operating result falls in 2026; 2026 is 29% below 2025.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Return on assets (ROA).
Peer companies
Historical observationOf the 3,127 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97.2% are still going.
- Small
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 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 74.5% 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 3,127 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.
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.2m | ▼ 30.5% |
| Other operating charges640/8 | €387 | €0.07m | ▲ 18,928% |
| Gross operating margin9900 | €1.2m | €0.9m | ▼ 23.7% |
| Operating profit (loss)9901 | €1.0m | €0.7m | ▼ 29.5% |
| Financial income75/76B | €0.01m | €0.02m | ▲ 61.2% |
| Recurring financial income75 | €0.01m | €0.02m | ▲ 61.2% |
| Financial charges65/66B | - | €39 | - |
| Recurring financial charges65 | - | €39 | - |
| Profit (loss) for the period before taxes9903 | €1.0m | €0.7m | ▼ 28.3% |
| Income taxes67/77 | €0.2m | €0.2m | ▼ 29.0% |
| Profit (loss) for the period9904 | €0.7m | €0.5m | ▼ 28.0% |
| Transfer from tax-exempt reserves789 | €0.01m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €0.5m | ▼ 29.0% |
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €2.4m | €2.9m | ▲ 21.2% |
| Fixed assets21/28 | €1.4m | €1.2m | ▼ 13.7% |
| Tangible fixed assets22/27 | €1.4m | €1.2m | ▼ 13.7% |
| Land and buildings22 | €1.4m | €1.2m | ▼ 12.3% |
| Other tangible fixed assets26 | €0.05m | €0.02m | ▼ 52.0% |
| Current assets29/58 | €1.0m | €1.7m | ▲ 70.7% |
| Amounts receivable within one year40/41 | €0.7m | €0.5m | ▼ 18.9% |
| Trade receivables40 | €0.04m | €0.03m | ▼ 11.9% |
| Other amounts receivable41 | €0.6m | €0.5m | ▼ 19.3% |
| Cash at bank and in hand54/58 | €0.3m | €1.2m | ▲ 243% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €2.4m | €2.9m | ▲ 21.2% |
| Equity10/15 | €2.4m | €2.5m | ▲ 4.9% |
| Contributions10/11 | €0.2m | €0.2m | = |
| Capital10 | €0.2m | €0.2m | = |
| Issued capital100 | €0.2m | €0.2m | = |
| Reserves13 | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | €0.02m | €0.02m | = |
| Legal reserve130 | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €2.2m | €2.4m | ▲ 5.3% |
| Amounts payable17/49 | €0.003m | €0.4m | ▲ 11,378% |
| Amounts payable within one year42/48 | €0.003m | €0.4m | ▲ 11,378% |
| Taxes, remuneration and social security45 | €0.003m | - | - |
| Taxes450/3 | €0.003m | - | - |
| Other amounts payable47/48 | - | €0.4m | - |
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €0.7m | €0.5m | ▼ 28.0% |
| + Depreciation and write-downs630 | €0.3m | €0.2m | ▼ 30.5% |
| Operating cash flow (approximation) | €1.0m | €0.7m | ▼ 28.7% |
| Investment in fixed assets (approximation) | - | €1 | - |
| Change in cash | - | €0.8m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-01-2026 | full format | 29-07-2026 | 2026-00360035 |
| 31-01-2025 | full format | 25-06-2025 | 2025-00183728 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| NOIRFALISSE Gérald Jean Marie Ghislain Julien |
|
| NOIRFALISSE Jean-Luc Marie Charles Albert Ghislain |
|
| NOIRFALISSE Philippe Marie Mathieu Henri René |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
01-02
Gazette deed
IncorporationAppointments: NOIRFALISSE Philippe Marie Mathieu Henri René, NOIRFALISSE Jean-Luc Marie Charles Albert Ghislain and NOIRFALISSE Gérald Jean Marie Ghislain Julien · Real estate · Declaration54 facts ▸
- Real estate, “immeuble-transfere-1, grand-magasin” (deed in French)
- Real estate, “immeuble-transfere-2, parcelle-de-terrain” (deed in French)
- Real estate, “acquis-sous-plus-grande-contenance, origine-bien-1” (deed in French)
- Real estate, 22-09-2005
- Real estate, “situation-hypothecaire, quittes-et-libres” (deed in French)
- Other provision, “conditions-speciales-titres, actionnaires-FONVAL-futurs-seuls-actionnaires-FONVIM” (deed in French)
- Other provision, “non-conformes-destination-zone-sauf-derogation, logements-apres-1994-08-20” (deed in French)
- Other provision, “notaire, prior-deed-intervenant” (deed in French)
- Other provision, “notaire-intervenant-legalement-empeche, prior-deed-intervenant” (deed in French)
- Other provision, “inspecteur-principal-commissaire-Comite-Acquisition-Liege, prior-deed-intervenant” (deed in French)
- Other provision, “commissaire-Comite-Acquisition-Liege, prior-deed-intervenant” (deed in French)
- Other provision, “notaire, mortgage-deed-notary” (deed in French)
- +42 further facts in this act
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 21 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 1005.389.459
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62098H1142/00M000 | Wallonia | 7,561 m² | 1 · 2,804 m² | - |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Gestion productive de son patrimoine immobilier, et notamment le leasing, la promotion, l'aménagement, l'exploitation, la transformation, la…” (deed in French)
Text of the purpose (deed in French)
“Gestion productive de son patrimoine immobilier, et notamment le leasing, la promotion, l'aménagement, l'exploitation, la transformation, la viabilisation, le lotissement et/ou la valorisation de tous ses biens ou droits immobiliers.”
- Name clauseThe name the company operates under according to its articles.
- FONVIM
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d'administration, assemblée générale fixant explicitement le système” (deed in French)“Vacance, conseil d'administration” (deed in French)“Présidence, conseil d'administration” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Détermination cessibilité, 1 à 4.198” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Prix offert par candidat-acquéreur,à défaut accord plus faible entre prix offert et prix expert désigné commun accord ou par Président du…” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of July at 19:00
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Prescrite pour modification des statuts, délibérer dissolution éventuelle et autres mesures annoncées à l'ordre du jour” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed