FRACTAL DEVELOPMENT
ActiveSummary
FRACTAL DEVELOPMENT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €95,646 and a net result of €49,161. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 35% of 7564 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability62▼-5
Solvency54▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.23 in 2024; short-term debt: 71.1% and cash: 55.3% of total assets), and 71.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more 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
28.9%
Return on assets
14.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-03-2026, 149 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
149 d early
2024
48 d late
2023
22 d late
2022
16 d late
2021
4 d late
2020
25 d early
2019
46 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 19 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€95,646▲ 0.2%
2024 · €95,485
Total assets
€331,136▲ 16.0%
2024 · €285,393
Net result
€49,161▲ 13.4%
2024 · €43,333
Working capital
€56,174▲ 27.9%
2024 · €43,924
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€71,346▼ 14.6%€58,607▼ 17.9%€86,429▲ 47.5%€82,461▼ 4.6%€99,922▲ 21.2%
Net result€21,191within the sector's middle half▼ 65.4%€24,686within the sector's middle half▲ 16.5%€42,369above the sector's middle half▲ 71.6%€43,333above the sector's middle half▲ 2.3%€49,161above the sector's middle half▲ 13.4%
Equity€124,397above the sector's middle half▲ 19.6%€95,783within the sector's middle half▼ 23.0%€96,152within the sector's middle half▲ 0.4%€95,485within the sector's middle half▼ 0.7%€95,646within the sector's middle half▲ 0.2%
Total assets€183,817within the sector's middle half▲ 18.3%€175,213within the sector's middle half▼ 4.7%€220,482within the sector's middle half▲ 25.8%€285,393within the sector's middle half▲ 29.4%€331,136above the sector's middle half▲ 16.0%
Debt€59,420▲ 15.6%€79,430▲ 33.7%€124,330▲ 56.5%€189,908▲ 52.7%€235,490▲ 24.0%
Working capital€104,676▲ 17.7%€78,362▼ 25.1%€44,919▼ 42.7%€43,924▼ 2.2%€56,174▲ 27.9%
Solvency67.7%above the sector's middle half▲ 0.7pp54.7%within the sector's middle half▼ 13.0pp43.6%within the sector's middle half▼ 11.1pp33.5%within the sector's middle half▼ 10.2pp28.9%within the sector's middle half▼ 4.6pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 21% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €331,136
Fixed assets
€39,473 ▼ 23.4%
Current assets
€291,663 ▲ 24.7%
Equity and liabilities €331,136
Equity
€95,646 ▲ 0.2%
Debt
€235,490 ▲ 24.0%
Debt's share of the balance-sheet total rises from 66.5% to 71.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€112,011▲
2024 · €93,421
Cash flow
€61,250▲
2024 · €54,294
Current ratio
1.24▲
2024 · 1.23
Debt to equity
2.46▲
2024 · 1.99
ROE
51.4%▲
2024 · 45.4%
ROA
14.8%▼
2024 · 15.2%
Interest coverage
2.99▼
2024 · 3.48
Debt ≤ 1 year
€235,490▲
2024 · €189,908
Income taxes
€13,258▲
2024 · €12,279
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,703 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,703 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,212 | €2,800 | €8,497 | €10,960 | €12,089 | ▲ 10.3% |
| Other operating charges640/8 | €1,152 | €5,798 | €2,923 | €1,274 | €751 | ▼ 41.0% |
| Gross operating margin9900 | €75,711 | €67,206 | €97,849 | €94,695 | €112,762 | ▲ 19.1% |
| Operating profit (loss)9901 | €71,346 | €58,607 | €86,429 | €82,461 | €99,922 | ▲ 21.2% |
| Financial income75/76B | €461 | €2 | €0 | €23 | €0 | ▼ 98.8% |
| Recurring financial income75 | €461 | €2 | €0 | €23 | €0 | ▼ 98.8% |
| Financial charges65/66B | €43,510 | €24,840 | €32,253 | €26,871 | €37,503 | ▲ 39.6% |
| Recurring financial charges65 | €43,510 | €24,840 | €32,253 | €26,871 | €37,503 | ▲ 39.6% |
| Profit (loss) for the period before taxes9903 | €28,297 | €33,769 | €54,175 | €55,613 | €62,419 | ▲ 12.2% |
| Income taxes67/77 | €7,106 | €9,083 | €11,807 | €12,279 | €13,258 | ▲ 8.0% |
| Profit (loss) for the period9904 | €21,191 | €24,686 | €42,369 | €43,333 | €49,161 | ▲ 13.4% |
| Profit (loss) for the period to be appropriated9905 | €21,191 | €24,686 | €42,369 | €43,333 | €49,161 | ▲ 13.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €183,817 | €175,213 | €220,482 | €285,393 | €331,136 | ▲ 16.0% |
| Fixed assets21/28 | €19,722 | €17,422 | €51,233 | €51,562 | €39,473 | ▼ 23.4% |
| Tangible fixed assets22/27 | €19,722 | €17,422 | €51,233 | €51,562 | €39,473 | ▼ 23.4% |
| Furniture and vehicles24 | €988 | €891 | €37,101 | €28,539 | €19,977 | ▼ 30.0% |
| Other tangible fixed assets26 | €18,734 | €16,531 | €14,132 | €23,022 | €19,495 | ▼ 15.3% |
| Current assets29/58 | €164,095 | €157,792 | €169,249 | €233,831 | €291,663 | ▲ 24.7% |
| Amounts receivable within one year40/41 | €53,649 | €14,364 | €111,240 | €67,028 | €107,000 | ▲ 59.6% |
| Trade receivables40 | €53,649 | €14,364 | €111,240 | €67,028 | €107,000 | ▲ 59.6% |
| Other amounts receivable41 | - | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €109,050 | €143,428 | €58,009 | €166,803 | €183,043 | ▲ 9.7% |
| Deferred charges and accrued income490/1 | €1,396 | - | - | - | €1,621 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €183,817 | €175,213 | €220,482 | €285,393 | €331,136 | ▲ 16.0% |
| Equity10/15 | €124,397 | €95,783 | €96,152 | €95,485 | €95,646 | ▲ 0.2% |
| Contributions10/11 | €12,400 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €76,860 | €76,860 | €76,860 | €76,860 | €76,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Profit (loss) carried forward14 | €35,137 | €323 | €692 | €25 | €186 | ▲ 638% |
| Amounts payable17/49 | €59,420 | €79,430 | €124,330 | €189,908 | €235,490 | ▲ 24.0% |
| Amounts payable within one year42/48 | €59,420 | €79,430 | €124,330 | €189,908 | €235,490 | ▲ 24.0% |
| Trade debts44 | €11,061 | €5,190 | €1,191 | €4,016 | €1,433 | ▼ 64.3% |
| Suppliers440/4 | €11,061 | €5,190 | €1,191 | €4,016 | €1,433 | ▼ 64.3% |
| Taxes, remuneration and social security45 | €38,338 | €29,642 | €31,804 | €29,575 | €16,428 | ▼ 44.5% |
| Taxes450/3 | €38,338 | €29,642 | €29,454 | €29,575 | €16,428 | ▼ 44.5% |
| Remuneration and social security454/9 | - | - | €2,350 | - | - | - |
| Other amounts payable47/48 | €10,020 | €44,598 | €91,335 | €156,317 | €217,628 | ▲ 39.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,191 | €24,686 | €42,369 | €43,333 | €49,161 | ▲ 13.4% |
| + Depreciation and write-downs630 | €3,212 | €2,800 | €8,497 | €10,960 | €12,089 | ▲ 10.3% |
| Operating cash flow (approximation) | €24,404 | €27,486 | €50,866 | €54,294 | €61,250 | ▲ 12.8% |
| Investment in fixed assets (approximation) | - | -€500 | -€42,309 | -€11,288 | €0 | ▲ 100% |
| Change in cash | - | €34,378 | -€85,419 | €108,794 | €16,240 | ▼ 85.1% |
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
04-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 48 days late
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €61,312 ▲419%
Net result €61,312, the highest in the series.
31-12
Financial
Equity above €100,000Eq €104,006 ▲139%
3 profitable years in a row build equity to €104,006.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €11,812 ▼43%
Net result drops to €11,812, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
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, Braine-le-Château · 1 establishment unit since 2017
Ground area
839 m²
Building footprint
189 m²
Volume, LiDAR
1,107 m³
Parcel 25015C0128/00T000, Wallonia · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
FRACTAL DEVELOPMENT
since 20172.270.980.727
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25015C0128/00T000 | Wallonia | 839 m² | 1 · 189 m² | 9.0 m · 2 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.
Recognitions · licences · registrations
Legal Entity Identifier
254900BDOFAMWAF6TT24
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Of 2,456 companies in sector 41003 we hold annual accounts for 1,055. 748 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
Founded23-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
41003General construction of other non-residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0683625118
Also
9925:BE0683625118
Registered
08-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.