FOUND & BAKER
ActiveSummary
FOUND & BAKER has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €110k and a net result of €422k. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 25% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency32▲+1
Growth68=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.01 in 2024; short-term debt: 93.3% and cash: 42.3% of total assets), and 93.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
6.7%
Return on assets
25.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 · 8 filingsDeviation from the deadline
2025
24 d late
2024
27 d late
2023
29 d late
2022
30 d late
2021
31 d late
2020
30 d late
2019
101 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€110k=
2024 · €110k
2018: €110klowest in 8 years
2019: €110k● 0.0% vs 2018lowest in 8 years
2020: €110k● 0.0% vs 2019lowest in 8 years
2021: €501k▲ +356% vs 2020highest in 8 years
2022: €110k▼ -78.0% vs 2021lowest in 8 years
2023: €110k● 0.0% vs 2022lowest in 8 years
2024: €110k● 0.0% vs 2023lowest in 8 years
2025: €110k● 0.0% vs 2024lowest in 8 years
2018 → 2025
Total assets
€1.64M▼ 11.5%
2024 · €1.85M
2018: €1.15M
2019: €915k▼ -20.7% vs 2018lowest in 8 years
2020: €980k▲ +7.1% vs 2019
2021: €1.29M▲ +31.3% vs 2020
2022: €1.02M▼ -20.6% vs 2021
2023: €930k▼ -9.0% vs 2022
2024: €1.85M▲ +99.2% vs 2023highest in 8 years
2025: €1.64M▼ -11.5% vs 2024
2018 → 2025
Net result
€422k▼ 45.7%
2024 · €776k
2018: €234k
2019: €290k▲ +23.9% vs 2018
2020: €311k▲ +7.2% vs 2019
2021: €391k▲ +25.6% vs 2020
2022: €220k▼ -43.7% vs 2021lowest in 8 years
2023: €221k▲ +0.5% vs 2022
2024: €776k▲ +251% vs 2023highest in 8 years
2025: €422k▼ -45.7% vs 2024
2018 → 2025
Working capital
€30k▲ 30.9%
2024 · €23k
2018: €79k
2019: €78k▼ -1.5% vs 2018
2020: €87k▲ +12.5% vs 2019
2021: €485k▲ +455% vs 2020highest in 8 years
2022: €39k▼ -91.9% vs 2021
2023: €36k▼ -8.8% vs 2022
2024: €23k▼ -36.5% vs 2023lowest in 8 years
2025: €30k▲ +30.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€501k-€110k▼ 78.0%€110k=€110k=€110k=
2021: €501khighest in 5 years
2022: €110k▼ -78.0% vs 2021lowest in 5 years
2023: €110k● 0.0% vs 2022lowest in 5 years
2024: €110k● 0.0% vs 2023lowest in 5 years
2025: €110k● 0.0% vs 2024lowest in 5 years
Operating result€534k-€299k▼ 43.9%€302k▲ 1.0%€1.05M▲ 247%€576k▼ 45.0%
2021: €534k
2022: €299k▼ -43.9% vs 2021lowest in 5 years
2023: €302k▲ +1.0% vs 2022
2024: €1.05M▲ +247% vs 2023highest in 5 years
2025: €576k▼ -45.0% vs 2024
Net result€391k-€220k▼ 43.7%€221k▲ 0.5%€776k▲ 251%€422k▼ 45.7%
2021: €391k
2022: €220k▼ -43.7% vs 2021lowest in 5 years
2023: €221k▲ +0.5% vs 2022
2024: €776k▲ +251% vs 2023highest in 5 years
2025: €422k▼ -45.7% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 45% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.64M
Fixed assets
€80k ▼ 9.0%
Current assets
€1.56M ▼ 11.6%
Equity and liabilities €1.64M
Equity
€110k =
Debt
€1.53M ▼ 12.2%
Debt's share of the balance-sheet total falls from 94.1% to 93.3%. Debt is lower.
Key figures and ratios
EBITDA
€605k▼
2024 · €1.07M
Cash flow
€450k▼
2024 · €799k
Current ratio
1.02▲
2024 · 1.01
Debt to equity
13.91▼
2024 · 15.85
ROE
383.4%▼
2024 · 705.6%
ROA
25.7%▼
2024 · 41.9%
Interest coverage
1124.70▼
2024 · 3087.30
Debt ≤ 1 year
€1.53M▼
2024 · €1.74M
Debt > 1 year
€0▼
2024 · €910
Income taxes
€154k▼
2024 · €272k
Staff costs
€277k▼
2024 · €300k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.85M€1.64M▼
Fixed assets21/28€88k€80k▼
Intangible fixed assets21€6k€3k▼
Tangible fixed assets22/27€82k€66k▼
Land and buildings22€24k€23k▼
Plant, machinery and equipment23€11k€8k▼
Furniture and vehicles24€47k€36k▼
Financial fixed assets28-€11k
Current assets29/58€1.76M€1.56M▼
Amounts receivable within one year40/41€802k€865k▲
Trade receivables40€614k€446k▼
Other amounts receivable41€188k€420k▲
Cash at bank and in hand54/58€963k€694k▼
Deferred charges and accrued income490/1€215€348▲
Equity and liabilities
Total equity and liabilities10/49€1.85M€1.64M▼
Equity10/15€110k€110k=
Contributions10/11€100k€100k=
Reserves13€10k€10k=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€10k€10k=
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.74M€1.53M▼
Amounts payable after more than one year17€910€0▼
Financial debts170/4€910€0▼
Amounts payable within one year42/48€1.74M€1.53M▼
Current portion of amounts payable after more than one year42€4k€910▼
Trade debts44€118k€169k▲
Suppliers440/4€118k€169k▲
Advances received on contracts in progress46€697k€444k▼
Taxes, remuneration and social security45€145k€168k▲
Taxes450/3€144k€167k▲
Remuneration and social security454/9€1k€1k▼
Other amounts payable47/48€778k€748k▼
Income statement
Code20242025
Remuneration, social security and pensions62€300k€277k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€28k▲
Other operating charges640/8€9k€3k▼
Gross operating margin9900€1.38M€884k▼
Operating profit (loss)9901€1.05M€576k▼
Financial income75/76B€0€0▲
Recurring financial income75€0€0▲
Financial charges65/66B€347€538▲
Recurring financial charges65€347€538▲
Profit (loss) for the period before taxes9903€1.05M€576k▼
Income taxes67/77€272k€154k▼
Profit (loss) for the period9904€776k€422k▼
Profit (loss) for the period to be appropriated9905€776k€422k▼
Appropriation of the result
Profit (loss) to be appropriated9906€776k€422k▼
Profit to be distributed694/7€776k€422k▼
Return on contributions (dividend)694€776k€422k▼
Social balance
Average headcount (FTE)90875.35.0▼
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €102k | €117k | €214k | €300k | €277k | ▼ 7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18k | €15k | €25k | €23k | €28k | ▲ 22.8% |
| Other operating charges640/8 | €2k | €5k | €2k | €9k | €3k | ▼ 66.1% |
| Gross operating margin9900 | €655k | €436k | €544k | €1.38M | €884k | ▼ 35.9% |
| Operating profit (loss)9901 | €534k | €299k | €302k | €1.05M | €576k | ▼ 45.0% |
| Financial income75/76B | €2 | €34 | €1k | €0 | €0 | - |
| Recurring financial income75 | €2 | €34 | €1k | €0 | €0 | - |
| Financial charges65/66B | €1k | €426 | €380 | €347 | €538 | ▲ 54.9% |
| Recurring financial charges65 | €1k | €426 | €380 | €347 | €538 | ▲ 54.9% |
| Profit (loss) for the period before taxes9903 | €532k | €299k | €303k | €1.05M | €576k | ▼ 45.1% |
| Income taxes67/77 | €141k | €79k | €82k | €272k | €154k | ▼ 43.4% |
| Profit (loss) for the period9904 | €391k | €220k | €221k | €776k | €422k | ▼ 45.7% |
| Profit (loss) for the period to be appropriated9905 | €391k | €220k | €221k | €776k | €422k | ▼ 45.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.29M | €1.02M | €930k | €1.85M | €1.64M | ▼ 11.5% |
| Fixed assets21/28 | €28k | €79k | €79k | €88k | €80k | ▼ 9.0% |
| Intangible fixed assets21 | - | €11k | €8k | €6k | €3k | ▼ 40.9% |
| Tangible fixed assets22/27 | €28k | €69k | €71k | €82k | €66k | ▼ 19.4% |
| Land and buildings22 | €471 | €0 | €5k | €24k | €23k | ▼ 5.7% |
| Plant, machinery and equipment23 | €18 | €10k | €14k | €11k | €8k | ▼ 28.0% |
| Furniture and vehicles24 | €27k | €59k | €51k | €47k | €36k | ▼ 24.5% |
| Financial fixed assets28 | - | - | - | - | €11k | - |
| Current assets29/58 | €1.26M | €943k | €851k | €1.76M | €1.56M | ▼ 11.6% |
| Amounts receivable within one year40/41 | €706k | €332k | €463k | €802k | €865k | ▲ 7.9% |
| Trade receivables40 | €704k | €310k | €358k | €614k | €446k | ▼ 27.3% |
| Other amounts receivable41 | €2k | €22k | €105k | €188k | €420k | ▲ 123% |
| Cash at bank and in hand54/58 | €552k | €609k | €387k | €963k | €694k | ▼ 27.9% |
| Deferred charges and accrued income490/1 | €790 | €1k | €1k | €215 | €348 | ▲ 61.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.29M | €1.02M | €930k | €1.85M | €1.64M | ▼ 11.5% |
| Equity10/15 | €501k | €110k | €110k | €110k | €110k | = |
| Contributions10/11 | €100k | €100k | €100k | €100k | €100k | = |
| Reserves13 | €10k | €10k | €10k | €10k | €10k | = |
| Non-distributable reserves130/1 | €10k | €10k | €10k | €0 | - | - |
| Reserves not available under the articles1311 | €10k | €10k | €10k | €0 | - | - |
| Distributable reserves133 | - | - | - | €10k | €10k | = |
| Profit (loss) carried forward14 | €391k | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €786k | €912k | €820k | €1.74M | €1.53M | ▼ 12.2% |
| Amounts payable after more than one year17 | €12k | €8k | €5k | €910 | €0 | ▼ 100% |
| Financial debts170/4 | €12k | €8k | €5k | €910 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €774k | €904k | €816k | €1.74M | €1.53M | ▼ 12.2% |
| Current portion of amounts payable after more than one year42 | €4k | €4k | €4k | €4k | €910 | ▼ 74.8% |
| Trade debts44 | €165k | €112k | €122k | €118k | €169k | ▲ 42.7% |
| Suppliers440/4 | €165k | €112k | €122k | €118k | €169k | ▲ 42.7% |
| Advances received on contracts in progress46 | €448k | €545k | €417k | €697k | €444k | ▼ 36.3% |
| Taxes, remuneration and social security45 | €158k | €23k | €51k | €145k | €168k | ▲ 15.9% |
| Taxes450/3 | €157k | €17k | €50k | €144k | €167k | ▲ 16.0% |
| Remuneration and social security454/9 | €1k | €6k | €1k | €1k | €1k | ▼ 0.4% |
| Other amounts payable47/48 | €0 | €220k | €222k | €778k | €748k | ▼ 3.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €391k | €220k | €221k | €776k | €422k | ▼ 45.7% |
| + Depreciation and write-downs630 | €18k | €15k | €25k | €23k | €28k | ▲ 22.8% |
| Operating cash flow (approximation) | €409k | €235k | €247k | €799k | €450k | ▼ 43.7% |
| Investment in fixed assets (approximation) | - | €-66k | €-25k | €-33k | €-21k | ▲ 36.9% |
| Change in cash | - | €57k | €-222k | €575k | €-268k | ▼ 147% |
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
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
31-12
Financial
Highest result since 2018net €776k ▲251%
Operating result €1.05M, net result €776k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €220k ▼43.7%
Net result drops to €220k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Equity above €500kEq €501k ▲356%
4 profitable years in a row build equity to €501k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 101 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 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, Brugge · 1 establishment unit since 2017
Ground area
78 m²
Building footprint
78 m²
Volume, LiDAR
768 m³
Parcel 31804D1566/02B000, Flanders · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
FOUND & BAKER
since 20172.263.092.746
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31804D1566/02B000 | Flanders | 78 m² | 1 · 78 m² | 12.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 9,702 EUR awarded · 9,702 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,334 EUR | 1,334 EUR |
| 2024 | 1 | 4,151 EUR | 4,151 EUR |
| 2023 | 1 | 2,579 EUR | 2,579 EUR |
| 2022 | 1 | 1,638 EUR | 1,638 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
La Gestion d'Immeubles
BE 0414.142.884
Watermaal-Bosvoorde · Eq €110,000
Propriété Privée, Immobilier Résidentiel
BE 0630.764.274
La Hulpe · Eq €110,016
BDO Southwest
BE 0777.542.694
Elsene · Eq €109,956
JK IMMO
BE 0743.502.228
Charleroi · Eq €110,053
ELETTRA
BE 0630.607.886
Waregem · Eq €110,053
Of 11,756 companies in sector 68310 we hold annual accounts for 6,904. 5,206 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
Founded08-03-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68121Development of residential building projects
68122Development of non-residential building projects
68321Property management for co-owned buildings (syndics)
68322Real estate appraisal on a fee or contract basis
81100Combined facilities support activities
Scores and ratios are computed by Checked and are not a credit decision.