FUN BELGIUM
The computed 12-month bankruptcy probability of FUN BELGIUM is 1.3% (low). The 2022 annual accounts show negative equity (€-2.04M) and a net result of €-10.13M. Equity is shrinking by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 17% of 712 sector peers (fiscal year 2022). The company has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €-2.04M |
| Net result | €-10.13M |
| Staff (FTE) | 45.8 |
| Better than sector | 17% |
Mixed profile: strong on stability, weaker on health.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
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The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -5.5% | 20.5% | |
| Net result | €-10.13M | €11k | |
| Equity | €-2.04M | €84k | |
| Staff costs | €3.04M | €181k | |
| Employees (FTE) | 45.8 | 5.7 |
| Fiscal year | 2022 |
|---|---|
| Revenue | €70.20M |
| EBITDA | €-9.05M |
| Net profit | €-10.13M |
| Cash flow | €-9.17M |
| Staff costs | €3.04M |
| Income taxes | €5k |
| Dividends | - |
| Total assets | €36.82M |
| Equity | €-2.04M |
| Debt | €38.86M |
| of which ≤ 1y | €16.26M |
| of which > 1y | €22.60M |
| Working capital | €13.03M |
| Employees (FTE) | 45.8 |
| 2022 | |
|---|---|
| Current ratio | 1.80 |
| Quick ratio | 0.49 |
| Working capital ratio | 35.4% |
| Solvency | -5.5% |
| Debt / equity | -19.06 |
| Long-term debt ratio | -11.08 |
| Interest coverage | -8.28 |
| Gross margin | 32.9% |
| Net margin | -14.4% |
| ROA | -27.5% |
| ROE | 496.8% |
| EBITDA margin | -12.9% |
| Days sales outstanding | 16d |
| Days payable outstanding | 101d |
| Inventory turnover | 2.21 |
| Days inventory (DSI) | 165d |
| Line item | Code | 2022 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €36.82M |
| Fixed assets | 21/28 | €7.54M |
| Intangible fixed assets | 21 | €417k |
| Tangible fixed assets | 22/27 | €4.45M |
| Financial fixed assets | 28 | €2.67M |
| Current assets | 29/58 | €29.28M |
| Stocks & contracts in progress | 3 | €21.34M |
| Amounts receivable within one year | 40/41 | €3.64M |
| Cash & bank | 54/58 | €4.04M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €36.82M |
| Equity | 10/15 | €-2.04M |
| Contributions / capital | 10/11 | €9.45M |
| Reserves | 13 | €198k |
| Accumulated profits (losses) | 14 | €-11.68M |
| Amounts payable | 17/49 | €38.86M |
| Amounts payable after one year | 17 | €22.60M |
| Amounts payable within one year | 42/48 | €16.26M |
| Trade debts payable within one year | 44 | €13.02M |
| Income statement | ||
| Turnover | 70 | €70.20M |
| Operating result | 9901 | €-10.01M |
| Financial income | 75 | €185k |
| Financial charges | 65 | €1.29M |
| Result before taxes | 9903 | €-10.13M |
| Income taxes | 67/77 | €5k |
| Net result for the period | 9904 | €-10.13M |
| Result to be appropriated | 9905 | €-10.13M |
| NACE primary | Retail trade(47120) |
| Legal form | Public limited company(014) |
| Incorporation | 15-03-1990 |
| Status | Active |
| Postal code | 8200 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31025E0013/00W000 | Flanders | 4.8 ha | 1 · 1.8 ha | - |
| 31030A0801/00A000 | Flanders | 7,354 m² | 1 · 1,647 m² | 7.0 m |
| 31030A0675/04N000 | Flanders | 4,199 m² | 1 · 1,545 m² | - |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
22-03-2024 2 directors appointed, 1 resigning
- Deloitte Bedrijfsrevisoren (erkenningsnummer B00025), Commissaris revisor
- Mevrouw MITRUGNO Angélique (A02609), Permanent vertegenwoordiger commissaris revisor
- BDO (erkenningsnummer B00023), Commissaris revisor
Technical details
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}23-01-2024 2 resigning
- BV ALGREEN CONSULTING, Bestuurder
- Délia Gentilini, Vaste vertegenwoordiger
Technical details
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}10-03-2023 Transaction in capital or shares
Technical details
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}30-07-2021 2 directors appointed
- BV BDO Bedrijfsrevisoren, Commissaris
- Fank Félix, Vaste vertegenwoordiger commissaris
Technical details
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}03-08-2020 1 director appointed, 1 resigning
- Valinco Srl, Gedelegeerd bestuurder
- Pargeco Srl, Gedelegeerd bestuurder
Technical details
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"name": "Valinco Srl",
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}29-01-2019 5 directors appointed, 5 resigning
- PARGECO SPRL, Bestuurder
- VALINCO SPRL, Bestuurder
- NIELSATOR SPRL, Bestuurder
- PARGECO SPRL, Voorzitter raad van bestuur
- PARGECO SPRL, Gedelegeerde bestuurder
- NIELSATOR SPRL, Gedelegeerd bestuurder
- MITISKA NV, Bestuurder
- ARLINI NV, Bestuurder
Technical details
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{
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"name": "ARLINI NV",
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},
{
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"name": "YESI CONSULT BVBA",
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{
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"role": "voorzitter Raad van Bestuur",
"person": {
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"name": "VAN CAUWENBERGHE Jacques",
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}27-09-2018 Ernst & Young Assurance Services BV CVBA appointed as statutory auditor
- Ernst & Young Assurance Services BV CVBA, Commissaris
Technical details
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}18-05-2018 1 director appointed, 2 resigning
- YESI CONSULT BVBA, Bestuurder klasse b
- THUMBSUP CBVA, Bestuurder
- BLUE THUMB CBVA, Bestuurder
Technical details
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}06-01-2017 Capital increase of €7,000,000 to €9,445,386.64
- €2.445.386,64 → €9.445.386,64
- Inbreng in natura · Apport en nature
Technical details
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}06-09-2016 YESI CONSULT BVBA appointed as managing director
- YESI CONSULT BVBA, Gedelegeerd bestuurder
Technical details
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}16-06-2016 2 directors appointed, 2 resigning
- Nielsator sprl, Bestuurder klasse a
- Nielsator sprl, Gedelegeerd bestuurder
- Desch bvba, Bestuurder
- Permeke Invest nv, Bestuurder
Technical details
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}30-03-2016 Bernard Raevens appointed as vaste vertegenwoordiger bestuurder
- Bernard Raevens, Vaste vertegenwoordiger bestuurder
Technical details
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}22-01-2016 Capital increase of €3,000,000.00 to €8,445,386.64
- €5.445.386,64 → €8.445.386,64
- Inbreng in natura · Apport en nature
Technical details
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}05-11-2015 Nielsator bvba appointed as director
- Nielsator bvba, Bestuurder
Technical details
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}19-08-2015 Ernst & Young Assurance Services BV CVBA appointed as statutory auditor
- Ernst & Young Assurance Services BV CVBA, Commissaris
Technical details
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}13-04-2011 Publication in the Belgian Official Gazette, Miscellaneous
Technical details
{
"stage": "proposal",
"notary": {
"name": "Mitiska NV",
"firm_city": null,
"firm_name": null,
"office_city": "Brugge",
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},
"act_meta": {
"language": "nl",
"pub_date": "2011-04-13",
"filing_date": "2011-03-31",
"act_kind_objet": "neerlegging splitsingsvoorstel"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"act_date": "2011-03-31",
"unanimous": null
},
"conversion": null,
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"restructuring": {
"parties": [
{
"kbo": "0440.072.766",
"name": "Fun Belgium",
"role": "demerged",
"address": "Koning Albert I laan 244-8200 Brugge",
"is_foreign": false,
"legal_form": "naamloze vennootschap",
"is_new_company": false,
"jurisdiction_country": "BE"
},
{
"kbo": null,
"name": "Retail Estates",
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"is_foreign": false,
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"jurisdiction_country": "BE"
}
],
"exchange_ratio": null,
"legal_articles": [
"728 WVV"
],
"is_cross_border": false,
"is_silent_merger": false,
"balance_basis_date": null,
"exchange_ratio_text": null,
"new_shares_issued_n": 0,
"real_estate_included": false,
"patrimony_description": "Bepaalde actiefbestanddelen, momenteel eigendom van de partieel te splitsen vennootschap \u0027Fun Belgium\u0027, worden overgedragen aan \u0027Retail Estates\u0027. De overdracht betreft een gedeeltelijk patrimoine.",
"equity_transferred_eur": null,
"accounting_effective_date": null
},
"subject_company": {
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"name_full": "Fun Belgium",
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"org_name": "Arlini NV",
"person_name": null,
"org_rep_person_name": "Mevrouw Carpentier"
},
"summary_narrative": "Op 31 maart 2011 is een voorstel van een met splitsing gelijkgestelde verrichting neergelegd bij de rechtbank van koophandel te Brugge. Het voorstel betreft de overdracht van bepaalde actiefbestanddelen van de naamloze vennootschap \u0027Fun Belgium\u0027 aan \u0027Retail Estates\u0027, als onderdeel van een partiele splitsing. De beslissing is genomen door de buitengewone algemene vergadering van \u0027Fun Belgium\u0027.",
"co_filed_documents": [],
"detected_real_type": "demerger_proposal",
"referenced_correction": null,
"should_reroute_to_category": null
}21-09-2009 10 directors appointed, 1 resigning
- ZERMATT BVBA, Bestuurder
- PERMEKE INVEST NV, Bestuurder
- MITISKA NV, Bestuurder
- FIDIGO NV, Bestuurder
- ELBA NV, Bestuurder
- IVCO BVBA, Bestuurder
- RETAIL PARTNER BVBA, Bestuurder
- BVCE GRANT THORNTON, LIPPENS & RABAEY, Commissaris
Technical details
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{
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"name": "BVCE GRANT THORNTON, LIPPENS \u0026 RABAEY",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "Voorzitter van de Raad van Bestuur",
"person": {
"rrn": null,
"name": "ZERMATT BVBA",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "Gedelegeerd Bestuurder",
"person": {
"rrn": null,
"name": "RETAIL PARTNER BVBA",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0440.072.766",
"name_full": "FUN BELGIUM"
}
}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameNL | FUN BELGIUM |