FUGAVE
ActiveFUGAVE has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €197k and a net result of €28k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 21% of 9183 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability39▼-6
Solvency29=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity ample (current ratio 6.8 against 3.94 in 2024; short-term debt: 14.7% and cash: 31.9% of total assets), but 96.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
Sector 68
lower
← 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
3.6%
Return on assets
0.5%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 9183 sector peers (2025).
NBB · sector comparisonPosition among 9183 sector peers
Solvency
better than 21%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €197k
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 16-07-2026, 15 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
15 d early
2024
17 d early
2023
13 d early
2022
20 d early
2021
27 d early
2020
15 d early
2019
17 d early
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€197k▲ 16.4%
2024 · €170k
2019: €27k
2020: €24k
2021: €45k
2022: €32k
2023: €30k
2024: €170k
2019 → 2025
Total assets
€5.44M▲ 16.7%
2024 · €4.66M
2019: €632k
2020: €2.09M
2021: €1.81M
2022: €4.05M
2023: €3.55M
2024: €4.66M
2019 → 2025
Net result
€28k▼ 80.0%
2024 · €139k
2019: €-3k
2020: €-3k
2021: €20k
2022: €1.45M
2023: €62k
2024: €139k
2019 → 2025
Working capital
€4.64M▲ 33.4%
2024 · €3.48M
2019: €-82k
2020: €-81k
2021: €-65k
2022: €115k
2023: €233k
2024: €3.48M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€45k-€32k▼ 27.1%€30k▼ 6.2%€170k▲ 457%€197k▲ 16.4%
Operating result€33k-€2.11M▲ 6,289%€275k▼ 87.0%€416k▲ 51.4%€355k▼ 14.6%
Net result€20k-€1.45M▲ 7,038%€62k▼ 95.7%€139k▲ 125%€28k▼ 80.0%
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 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €5.44M
Equity
€197k▲ 16.4%
Provisions
€147k▼ 12.3%
Debt
€5.10M▲ 17.8%
The debt ratio rises from 92.8% to 93.7%. Equity and debt are higher.
Key figures and ratios
Solvency
3.6%▼
2024 · 3.6%
Current ratio
6.80▲
2024 · 3.94
Quick ratio
2.80▲
2024 · 2.59
Debt / equity
25.81▲
2024 · 25.51
ROE
14.1%▼
2024 · 82.1%
ROA
0.5%▼
2024 · 3.0%
Debt
€5.10M▲
2024 · €4.33M
Debt ≤ 1 year
€801k▼
2024 · €1.18M
Debt > 1 year
€4.22M▲
2024 · €3.06M
Income taxes
€10k▼
2024 · €52k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€4.66M€5.44M▲
Current assets29/58€4.66M€5.44M▲
Stocks and contracts in progress3€1.60M€3.20M▲
Stocks30/36€1.60M€3.20M▲
Amounts receivable within one year40/41€85k€504k▲
Trade receivables40€80k€173k▲
Other amounts receivable41€5k€331k▲
Cash at bank and in hand54/58€2.98M€1.73M▼
Deferred charges and accrued income490/1-€5k
Equity and liabilities
Total equity and liabilities10/49€4.66M€5.44M▲
Equity10/15€170k€197k▲
Contributions10/11€30k€30k=
Reserves13€140k€167k▲
Distributable reserves133€140k€167k▲
Provisions and deferred taxes16€167k€147k▼
Provisions for liabilities and charges160/5€167k€147k▼
Other liabilities and charges164/5€167k€147k▼
Amounts payable17/49€4.33M€5.10M▲
Amounts payable after more than one year17€3.06M€4.22M▲
Financial debts170/4€3.05M€4.17M▲
Other amounts payable178/9€8k€51k▲
Amounts payable within one year42/48€1.18M€801k▼
Trade debts44€1.12M€688k▼
Suppliers440/4€1.12M€688k▼
Advances received on contracts in progress46€9k€9k=
Taxes, remuneration and social security45€52k€103k▲
Taxes450/3€52k€103k▲
Accrued charges and deferred income492/3€84k€75k▼
Income statement
Code20242025
Provisions for liabilities and charges: additions (uses and reversals)635/8€-10k€-21k▼
Other operating charges640/8€1k€3k▲
Gross operating margin9900€408k€338k▼
Operating profit (loss)9901€416k€355k▼
Financial income75/76B€5k€21k▲
Recurring financial income75€5k€21k▲
Financial charges65/66B€229k€338k▲
Recurring financial charges65€229k€338k▲
Profit (loss) for the period before taxes9903€191k€38k▼
Income taxes67/77€52k€10k▼
Profit (loss) for the period9904€139k€28k▼
Profit (loss) for the period to be appropriated9905€139k€28k▼
Appropriation of the result
Profit (loss) to be appropriated9906€139k€28k▼
Transfer to equity691/2€139k€28k▼
To other reserves6921€139k€28k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity quadruplescurrent ratio 3.94
Current ratio from 1.07 to 3.94; short-term debt falls from €3.32M to €1.18M.
31-12
Financial
Equity above €150kEq €170k ▲457%
4 profitable years in a row build equity to €170k.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2019net €1.45M ▲7038%
Operating result €2.11M, net result €1.45M, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €20k
Net result €20k after 2 loss-making years.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Kortrijk · 1 establishment unit since 2018
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Beneluxpark(Kor) 268500 KortrijkGround area
1.1 ha
Building footprint
3,566 m²
Parcel 34354D0456/00A000, Flanders. Linked by address, not a title deed.
1 establishment unit
FUGAVE
since 20182.278.177.236
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354D0456/00A000 | Flanders | 1.1 ha | 1 · 3,566 m² | 0.0 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
S.E.Q.C.
BE 0832.598.510
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KARIN
BE 0889.615.308
Glabbeek · Eq €197k
Calevoet Development
BE 0756.682.053
Deinze · Eq €197k
KORTENBERG DEV.
BE 0800.686.104
Lanaken · Eq €197k
C&C PROJECTS
BE 0884.242.496
Oostende · Eq €198k
Of 9,695 companies in sector 68121 we hold annual accounts for 7,383. 5,334 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-04-2018
Fiscal year end31-12
Activities, NACEBEL
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.