Result
€46,508 €46,508
Back in profit in 2025, after a loss of €136,327 in 2024.
FPF
Lifetime
18 annual accounts with figures on one time axis, 36 filings since 1990peak €753,484 (2025)
€753,484▲ 197%
lowest -€136,327 (2024)
€46,508▲ €182,835
peak €1.6m (2023)
€1.4m▼ 2.2%
€4.8m▲ 6.4%
peak 14 FTE (2010)
0 FTE
Board7 names since 2017
3 directorsVanlancker NV and 2 others
Owners3 names in the annual accounts
99.99%KG REAL ESTATE
Documentsfilings and deeds
05-08-20265 days late
2025financial year
Gross margin from €253,621 to €753,484Back to profit: €46,508Investments €473,466Cash from €26,621 to €236,196
Key points
from the 2025 annual accountsTurnover
≈ €850,000 estimated
The accounts state no turnover.
Debts
€4.8m 75% of the balance sheet
Financial debts 75%Suppliers 5%Taxes and wages 0%Other 19%
Of this, €1.9m falls due within a year.
Investments
€1.1m 8.4 × depreciation
Green is investment, beige is depreciation.
Filings
36 annual accounts since 1990
Seven of the last ten came late. The 2019 accounts came latest: 63 days after the end of the period.
Position in the sector
€753,484
Higher gross margin than 80% of companies in real estate. Sector median €158,503 · 4,663 companies.
Checked score
93
Excellent
Financially stronger than 41% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025highest value
08-2025: < 0.1%▼ -0.3 percentage points vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: 0.1%▲ +0.1 percentage points vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: < 0.1%▼ -0.2 percentage points vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.39, cash €236,196
Equity €1.4m (22.7% of total assets)
lowers risk
Size: total assets €6.4m
Figures for financial year 2025 (filed on 11-08-2026)
Calculation
The band follows from the bankruptcy probability. 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). It does better than 42% of them on solvency, 38% on liquidity, 50% on profitability and 34% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 733 companies had the same profile as FPF has now. Each dot stands for 2 companies, two years later.
97.4%
were still trading
1.4%
stopped another way
1.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FPF itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 733 companies, not a prediction for FPF. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €130,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.39 (0.27 in 2024), below 1. Short-term debt is 29% and cash 3.7% of total assets. 77.3% of the assets are financed with debt and provisions.
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
5 days late
2024
9 days early
2023
14 days early
2022
13 days early
2021
31 days late
2020
31 days late
2019
63 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 13 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 22 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- KG REAL ESTATE 99.99%equity €3.6m (2025) · 2025 annual accounts of KG REAL ESTATE
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0440027731
Environmental permit granted
Verbouwen en/of uitbreiden van bijgebouwen, niet-overdekte lage constructies of wijzigen van andere beperkte handelingen · Lier
Environmental permit granted
Nieuwbouw of aanleggen, Slopen of verwijderen, Slopen van niet vrijstaande gebouwen of constructies and 1 more · Lier
Environmental permit granted
Bouwen of herbouwen, Gevel-, dak-, instandhoudings- en renovatiewerken binnen een gebouw, zonder volume- of oppervlaktewijziging, Nieuwbouw van bijgebouwen en niet overdekte lage constructie and 2 more · Lier
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FPF Keerbergen | €6.4m | €0.8m | 22.7% | 0 |
| DHONT G.J.L. Zulte | €6.8m | €0.6m | 62.3% | 0 |
| IMMOBILIERE MANAGEMENT CORBISIER Philippeville | €7.6m | €0.6m | 80.6% | 0 |
| B en R BEHEER Gistel | €6.0m | €1.1m | 25.2% | 0 |
| ANDAVA La Louvière | €8.8m | €0.8m | 45.3% | 0 |
| IMMO J.V.C. Knokke-Heist | €4.9m | €0.6m | 96.8% | 0 |
| IMMO 4D Braine-l'Alleud | €6.2m | €0.7m | 24.9% | 0.2 |
These companies have the same main activity as FPF: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €4.9m and €8.8m, founded between 1985 and 1994.
Official details
Source: KBO- Status
- Active since 26-02-1990Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 1 other
- Establishment unit
- 2.322.339.7523140 Keerbergen, since 01-01-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Insights on FPF
FPF has existed since 1990. The gross margin fell from €640,877 in 2011 to €148,820 in 2012.
KG REAL ESTATE holds all the shares. In February 2024, the Official Gazette published the appointment of Vanlancker NV as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FPF
- What is the company number of FPF?
- The company number of FPF is 0440.027.731. The VAT number is the same number with BE in front: BE 0440.027.731.
- Where is FPF based?
- The registered office is at Vlieghavenlaan 9A, 3140 Keerbergen.Company details
- What does FPF do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of FPF?
- FPF is a public limited company (NV).
- When was FPF founded?
- FPF was founded on 26-02-1990.
- Is FPF still active?
- Yes, FPF is an active enterprise in the KBO register.
- What is the turnover of FPF?
- The turnover in financial year 2025 is ≈ €850,000. This figure is estimated from the gross margin of €753,484 and 38 comparable companies (NACE 68201). It probably lies between €760,000 and €940,000.Financials
- Is FPF profitable?
- In financial year 2025, FPF made a profit of €46,508.
- Where can I find the annual accounts of FPF?
- FPF filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FPF due?
- FPF must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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