FROM
ActiveSummary
FROM has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €631,129 and a net result of €129,402. Equity is growing by ~13.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+2
Solvency75▼-22
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 1.82 against 5.08 in 2024; short-term debt: 37.6% and cash: 29.7% of total assets), but 50.3% 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
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
49.7%
Return on assets
10.2%
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
14 d early
2023
15 d early
2022
23 d late
2021
18 d late
2020
30 d late
2019
12 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 5 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€631,129▼ 31.2%
2024 · €917,145
Total assets
€1.3m▼ 0.7%
2024 · €1.3m
Net result
€129,402▲ 23.5%
2024 · €104,816
Working capital
€391,760▼ 46.2%
2024 · €728,100
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
Line20212022202320242025
Operating result€183,932▼ 77.3%€272,365▲ 48.1%€265,972▼ 2.3%€278,021▲ 4.5%€182,038▼ 34.5%
Net result€126,048▼ 73.6%€188,311▲ 49.4%€185,351▼ 1.6%€104,816▼ 43.4%€129,402▲ 23.5%
Equity€630,257▲ 16.7%€716,364▲ 13.7%€802,440▲ 12.0%€917,145▲ 14.3%€631,129▼ 31.2%
Total assets€961,292▲ 8.5%€1.2m▲ 20.7%€1.2m▲ 4.0%€1.3m▲ 6.2%€1.3m▼ 0.7%
Debt€173,215▼ 8.0%€285,894▲ 65.1%€245,690▼ 14.1%€205,209▼ 16.5%€482,027▲ 135%
Working capital€363,870▲ 35.4%€547,042▲ 50.3%€625,889▲ 14.4%€728,100▲ 16.3%€391,760▼ 46.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 35% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€401,038 ▲ 7.3%
Current assets
€869,937 ▼ 4.0%
Equity and liabilities €1.3m
Equity
€631,129 ▼ 31.2%
Provisions
€157,820 =
Debt
€482,027 ▲ 135%
Debt's share of the balance-sheet total rises from 16.0% to 37.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€214,815▼
2024 · €303,131
Cash flow
€162,179▲
2024 · €129,925
Current ratio
1.82▼
2024 · 5.08
Debt to equity
0.76▲
2024 · 0.22
ROE
20.5%▲
2024 · 11.4%
ROA
10.2%▲
2024 · 8.2%
Interest coverage
146.15▲
2024 · 128.98
Debt ≤ 1 year
€478,177▲
2024 · €178,259
Debt > 1 year
€3,850▼
2024 · €26,950
Income taxes
€57,408▼
2024 · €74,131
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,067 | €25,582 | €25,677 | €25,109 | €32,777 | ▲ 30.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | €7,069 | €7,960 | €7,269 | €7,193 | €45,210 | ▲ 528% |
| Gross operating margin9900 | €226,069 | €305,907 | €298,918 | €310,324 | €260,025 | ▼ 16.2% |
| Operating profit (loss)9901 | €183,932 | €272,365 | €265,972 | €278,021 | €182,038 | ▼ 34.5% |
| Financial income75/76B | €1,329 | €2,239 | €4,813 | €4,316 | €6,242 | ▲ 44.6% |
| Recurring financial income75 | €1,329 | €2,239 | €4,813 | €4,316 | €6,242 | ▲ 44.6% |
| Financial charges65/66B | €2,591 | €2,074 | €1,830 | €2,350 | €1,470 | ▼ 37.5% |
| Recurring financial charges65 | €2,591 | €2,074 | €1,830 | €2,350 | €1,470 | ▼ 37.5% |
| Profit (loss) for the period before taxes9903 | €182,670 | €272,529 | €268,955 | €279,987 | €186,810 | ▼ 33.3% |
| Transfer to deferred taxes680 | - | - | - | €101,040 | - | - |
| Income taxes67/77 | €56,622 | €84,218 | €83,604 | €74,131 | €57,408 | ▼ 22.6% |
| Profit (loss) for the period9904 | €126,048 | €188,311 | €185,351 | €104,816 | €129,402 | ▲ 23.5% |
| Profit (loss) for the period to be appropriated9905 | €126,048 | €188,311 | €185,351 | €104,816 | €129,402 | ▲ 23.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €961,292 | €1.2m | €1.2m | €1.3m | €1.3m | ▼ 0.7% |
| Fixed assets21/28 | €520,895 | €400,292 | €384,422 | €373,815 | €401,038 | ▲ 7.3% |
| Intangible fixed assets21 | - | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €520,895 | €400,292 | €384,422 | €373,815 | €401,038 | ▲ 7.3% |
| Land and buildings22 | €507,825 | €389,685 | €371,624 | €350,541 | €329,458 | ▼ 6.0% |
| Plant, machinery and equipment23 | - | €0 | - | - | - | - |
| Furniture and vehicles24 | €10,270 | €7,806 | €9,998 | €8,570 | €56,876 | ▲ 564% |
| Other tangible fixed assets26 | €2,800 | €2,800 | €2,800 | €14,704 | €14,704 | = |
| Current assets29/58 | €440,397 | €759,786 | €821,529 | €906,358 | €869,937 | ▼ 4.0% |
| Amounts receivable within one year40/41 | €120,798 | €99,549 | €61,471 | €61,175 | €18,012 | ▼ 70.6% |
| Trade receivables40 | €86,207 | €0 | €5,000 | €5,000 | €12 | ▼ 99.8% |
| Other amounts receivable41 | €34,592 | €99,549 | €56,471 | €56,175 | €18,000 | ▼ 68.0% |
| Current investments50/53 | - | €50,000 | €250,000 | €350,000 | €400,000 | ▲ 14.3% |
| Cash at bank and in hand54/58 | €312,255 | €497,721 | €336,102 | €384,309 | €377,300 | ▼ 1.8% |
| Deferred charges and accrued income490/1 | €7,344 | €112,516 | €173,956 | €110,874 | €74,624 | ▼ 32.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €961,292 | €1.2m | €1.2m | €1.3m | €1.3m | ▼ 0.7% |
| Equity10/15 | €630,257 | €716,364 | €802,440 | €917,145 | €631,129 | ▼ 31.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €611,657 | €697,764 | €783,840 | €898,545 | €612,529 | ▼ 31.8% |
| Non-distributable reserves130/1 | €14,399 | €14,399 | €0 | - | - | - |
| Reserves not available under the articles1311 | €14,399 | €14,399 | €0 | - | - | - |
| Tax-exempt reserves132 | €77,521 | €46,521 | €46,521 | €147,561 | €147,561 | = |
| Distributable reserves133 | €519,737 | €636,844 | €737,319 | €750,984 | €464,967 | ▼ 38.1% |
| Provisions and deferred taxes16 | €157,820 | €157,820 | €157,820 | €157,820 | €157,820 | = |
| Provisions for liabilities and charges160/5 | €157,820 | €157,820 | €157,820 | €157,820 | €157,820 | = |
| Pensions and similar obligations160 | €157,820 | €157,820 | €157,820 | €157,820 | €157,820 | = |
| Amounts payable17/49 | €173,215 | €285,894 | €245,690 | €205,209 | €482,027 | ▲ 135% |
| Amounts payable after more than one year17 | €96,250 | €73,150 | €50,050 | €26,950 | €3,850 | ▼ 85.7% |
| Financial debts170/4 | €96,250 | €73,150 | €50,050 | €26,950 | €3,850 | ▼ 85.7% |
| Amounts payable within one year42/48 | €76,527 | €212,744 | €195,640 | €178,259 | €478,177 | ▲ 168% |
| Current portion of amounts payable after more than one year42 | €30,656 | €34,844 | €23,100 | €23,100 | €23,100 | = |
| Financial debts43 | - | - | - | €44 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €44 | €0 | ▼ 100% |
| Trade debts44 | €3,512 | €7,000 | €7,988 | €30,260 | €12,558 | ▼ 58.5% |
| Suppliers440/4 | €3,512 | €7,000 | €7,988 | €30,260 | €12,558 | ▼ 58.5% |
| Taxes, remuneration and social security45 | €42,359 | €73,806 | €70,242 | €38,261 | €24,652 | ▼ 35.6% |
| Taxes450/3 | €40,359 | €73,806 | €70,242 | €38,261 | €24,652 | ▼ 35.6% |
| Remuneration and social security454/9 | €2,000 | €0 | €0 | €0 | €0 | - |
| Other amounts payable47/48 | - | €97,094 | €94,311 | €86,594 | €417,866 | ▲ 383% |
| Accrued charges and deferred income492/3 | €438 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €126,048 | €188,311 | €185,351 | €104,816 | €129,402 | ▲ 23.5% |
| + Depreciation and write-downs630 | €35,067 | €25,582 | €25,677 | €25,109 | €32,777 | ▲ 30.5% |
| Operating cash flow (approximation) | €161,115 | €213,893 | €211,027 | €129,925 | €162,179 | ▲ 24.8% |
| Investment in fixed assets (approximation) | - | €95,022 | -€9,807 | -€14,503 | -€60,000 | ▼ 314% |
| Change in cash | - | €185,467 | -€161,620 | €48,208 | -€7,009 | ▼ 115% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €476,922 ▲423%
Operating result €811,380, net result €476,922, both a record.
31-12
Financial
Equity above €500,000Eq €539,882 ▲11%
3 profitable years in a row build equity to €539,882.
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 12 days late
2019
31-12
Financial
Weakest financial yearnet €91,151 ▼8.2%
Net result drops to €91,151, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 3.36
Current ratio from 1.66 to 3.36; short-term debt falls from €155,190 to €86,054.
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Bastogne
Ground area
2,023 m²
Building footprint
253 m²
Volume, LiDAR
1,582 m³
Parcel 82034F1302/00R000, Wallonia · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 82034F1302/00R000 | Wallonia | 2,023 m² | 1 · 253 m² | 9.9 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded03-11-1998
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.