Equity
€2.8m from €6.5m in 2011
Equity fell by 58% in 14 years.
4CLOUS
Lifetime
18 annual accounts with figures on one time axis, 29 filings since 1995peak €62,552 (2017)
€33,441▲ 65.3%
lowest -€2.7m (2013)
-€66,962▲ €10,380
peak €6.5m (2011)
€2.8m▼ 2.4%
€84,795▲ 25.5%
peak 12.9 FTE (2006)
-not published
Board4 names since 2021
3 directorsCaroline GROOTAERT and 2 others
Documentsfilings and deeds
02-04-202628 days before the deadline
2025micro format
Gross margin from €20,235 to €33,441Loss of €66,962Debts from €67,550 to €84,795Cash from €4,535 to €6,607
Key points
from the 2025 annual accountsLosses
-€3.8m in 13 years
Every financial year from 2013 to 2025 closed with a loss. 2013 was the heaviest.
Position in the sector
-€66,962
Lower net result than 94% of companies in real estate. Sector median €5,997 · 17,176 companies.
Checked score
95
Excellent
Financially stronger than 62% 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: < 0.1%lowest value
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: 0.1%▲ +0.1 percentage points vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged 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%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.2%▲ +0.1 percentage points vs 03-2026highest value
05-2026: 0.1%▼ -0.1 percentage points vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 1.00, cash €6,607
lowers risk
Size: total assets €2.8m
Founded in 1995
Figures for financial year 2025 (filed on 08-04-2026)
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 92% of them on solvency, 58% on liquidity, 63% on profitability and 33% on growth.
The bankruptcy probability was computed on 08-11-2026 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 30-09-2025.
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, 8,617 companies had the same profile as 4CLOUS has now. Each dot stands for 22 companies, two years later.
94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of 4CLOUS 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 8,617 companies, not a prediction for 4CLOUS. 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 €260,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.0 (1.1 in 2024), below the usual 1.5. Short-term debt is 3% and cash 0.2% of total assets. 3% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€66,962
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 02-04-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 days early
2024
8 days early
2023
32 days early
2022
16 days late
2021
1 day early
2020
7 days late
2019
35 days early
← 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 12 days before 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 financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 22 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end08-11-2026 today30-04-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0456952350
Company renamed from FROST HOLDING to 4CLOUS
Appointment: Lippens Scott (director) · “Het verwerven van participaties in eender welke vorm in alle bestaande of op te richten rechtspersonen en…” (deed in Dutch) · General meeting of 26-12-2023 · Gazette deed
1 director appointed, 1 resignation, 1 reappointment
Resignation: Lloyd LIPPENS · Appointment: LLL CONSULT · Permanent representative: Lloyd LIPPENS · General meeting of 15-12-2021 · Gazette deed
First establishment
Spijkerswegel 13, Bruges
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| 4CLOUS Bruges | €2.8m | €33,441 | 97.0% | - |
| ASTRIDPARK Gistel | €2.8m | €34,997 | 72.5% | - |
| GBCI Londerzeel | €2.6m | €36,596 | 39.4% | - |
| PEKO Grobbendonk | €3.3m | €32,003 | 30.7% | - |
| G.E.L. IMMO Wellen | €2.9m | €41,891 | 69.2% | - |
| ASV2 Kapellen | €2.6m | €27,157 | 80.6% | - |
| M.S.D. Damme | €3.1m | €52,265 | 72.3% | - |
These companies have the same main activity as 4CLOUS: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €2.6m and €3.3m, founded between 1992 and 1996.
Official details
Source: KBO- Status
- Active since 01-01-1995Normal situation
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203and 6 others
- Establishment unit
- 2.075.582.6408310 Bruges, since 12-03-1996
- Financial year end
- 30 September
- Peppol
- Reachable since 24-11-2025
Annual accounts to 30-09-2025
- ≈ €55,000estimated
- €2.8m▼ 1.7%
- Filing
- Filed on 02-04-2026, 28 days before the end of the filing period
Insights on 4CLOUS
4CLOUS files the micro format. That format states no turnover. The gross margin rose from €17,798 in 2014 to €33,441 in 2025.
In April 2022, the Official Gazette published the appointment of Caroline GROOTAERT 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 4CLOUS
- What is the company number of 4CLOUS?
- The company number of 4CLOUS is 0456.952.350. The VAT number is the same number with BE in front: BE 0456.952.350.
- Where is 4CLOUS based?
- The registered office is at Spijkerswegel 13, 8310 Bruges.Company details
- What does 4CLOUS do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of 4CLOUS?
- 4CLOUS is a public limited company (NV).
- When was 4CLOUS founded?
- 4CLOUS was founded on 01-01-1995.
- Is 4CLOUS still active?
- Yes, 4CLOUS is an active enterprise in the KBO register.
- What is the turnover of 4CLOUS?
- The turnover in financial year 2025 is ≈ €55,000. This figure is estimated from the gross margin of €33,441 and 51 comparable companies (NACE 682). It probably lies between €41,000 and €79,000.Financials
- Is 4CLOUS profitable?
- In financial year 2025, 4CLOUS made a loss of €66,962.
- Where can I find the annual accounts of 4CLOUS?
- 4CLOUS filed 38 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of 4CLOUS due?
- 4CLOUS must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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