Result
Back in profit in 2025, after a loss of €51,355 in 2024.
Back in profit in 2025, after a loss of €51,355 in 2024.
The micro format states no turnover.
Short-term debts fell from €57,026 to €5,734.
The 2018 accounts came latest: 309 days after the end of the period.
Higher solvency than 83% of companies in real estate. Sector median 28.9% · 17,185 companies.
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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, micro). It does better than 91% of them on solvency, 78% on liquidity, 95% on profitability and 95% 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 31-12-2025.
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).
In July 2024, 26,972 companies had the same profile as Further has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Further itself: 0.4% within 12 months.
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 26,972 companies, not a prediction for Further. 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.
Liquidity is insufficient, with a current ratio of 0.88 (0.01 in 2024), below 1. Short-term debt is 23.3% and cash 20.4% of total assets. 23.3% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 18 days after 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.
| Company | ||||
|---|---|---|---|---|
| Further Ixelles | €24,650 | €75,247 | 76.7% | - |
| LE MARCHE IMMOBILIER Quaregnon | €22,048 | €92,742 | -229.7% | - |
| Conseils en Gestion Immobilière Bruxelles Ixelles | €27,917 | €85,087 | -72.2% | - |
| WE INVEST MEISE Meise | €29,376 | €87,054 | -600.5% | 1 |
| Welcome Immobilière Grez-Doiceau | €24,757 | €84,906 | -77.4% | - |
| F-F VASTGOED Sint-Lievens-Houtem | €29,531 | €122,261 | -431.0% | - |
| Whitehome Real Estate Partner Walhain | €31,253 | €44,350 | -239.5% | - |
These companies have the same main activity as Further: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €22,000 and €31,300, founded between 2015 and 2020.
Further files the micro format. That format states no turnover. The gross margin rose from €944 in 2018 to €75,247 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €160,000. Estimated: probably between €100,000 and €220,000.
Higher than 84% of 17,185 companies in 2025.
Higher than 40% of 16,482 companies in 2025.
Higher than 95% of 16,861 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
24,650 | 35,443 | 52,267 | 26,545 | 21,320 | 15,912 | 19,450 | 19,450 | |
21/28 |
19,609 | 34,743 | 49,877 | 15,990 | 21,320 | - | - | - | |
22/27 |
19,609 | 34,743 | 49,877 | 15,990 | 21,320 | - | - | - | |
24 |
19,609 | 34,743 | 49,877 | 15,990 | 21,320 | - | - | - | |
29/58 |
5,041 | 700 | 2,390 | 10,555 | - | 15,912 | 19,450 | 19,450 | |
40/41 |
- | - | 2,390 | 10,555 | - | 15,810 | 19,450 | 19,450 | |
40 |
- | - | - | - | - | 9,500 | 9,500 | 9,500 | |
41 |
- | - | 2,390 | 10,555 | - | 6,310 | 9,950 | 9,950 | |
54/58 |
5,041 | 700 | - | - | - | 102 | - | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
24,650 | 35,443 | 52,267 | 26,545 | 21,320 | 15,912 | 19,450 | 19,450 | |
10/15 |
18,916 | -24,728 | 26,626 | -3,862 | -29,242 | 15,413 | 19,450 | 19,450 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
10 |
- | - | 18,600 | 18,600 | 18,600 | - | - | - | |
100 |
- | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
11 |
18,600 | 18,600 | - | - | - | - | - | - | |
1109/19 |
18,600 | 18,600 | - | - | - | - | - | - | |
14 |
316 | -43,328 | 8,026 | -22,462 | -47,842 | -3,187 | 850 | 850 | |
17/49 |
5,734 | 60,171 | 25,641 | 30,407 | 50,562 | 499 | - | - | |
17 |
- | 3,146 | 11,920 | 18,920 | 26,420 | - | - | - | |
170/4 |
- | 3,146 | 11,920 | 18,920 | 26,420 | - | - | - | |
42/48 |
5,734 | 57,026 | 13,721 | 11,488 | 24,142 | 499 | - | - | |
42 |
3,734 | 8,026 | 7,775 | 7,715 | 7,308 | - | - | - | |
43 |
- | - | 1,298 | 3,624 | 3,450 | - | - | - | |
430/8 |
- | - | 1,298 | - | 3,450 | - | - | - | |
439 |
- | - | - | 3,624 | - | - | - | - | |
44 |
- | - | 148 | 148 | 2,384 | 499 | - | - | |
440/4 |
- | - | 148 | 148 | 2,384 | 499 | - | - | |
45 |
- | 2,500 | 2,500 | - | - | - | - | - | |
450/3 |
- | 2,500 | 2,500 | - | - | - | - | - | |
47/48 |
2,000 | 46,500 | 2,000 | - | 11,000 | - | - | - | |
| Income statement | |||||||||
9900 |
75,247 | -28,179 | 48,897 | 32,058 | -24,782 | -40 | - | 944 | |
62 |
15,699 | - | - | - | 1,567 | 3,409 | - | - | |
630 |
15,134 | 15,134 | 15,134 | 5,330 | 5,330 | - | - | - | |
640/8 |
- | 775 | - | - | 1,701 | 499 | - | 30 | |
9901 |
44,414 | -44,088 | 33,763 | 26,728 | -33,380 | -3,948 | - | 914 | |
65/66B |
770 | 7,267 | 774 | 1,249 | 9,663 | 90 | - | 64 | |
65 |
770 | 7,267 | 774 | 1,249 | 9,663 | 90 | - | 64 | |
9903 |
43,644 | -51,355 | 32,989 | 25,479 | -43,043 | -4,037 | - | 850 | |
67/77 |
- | - | 2,500 | 100 | 1,612 | - | - | - | |
9904 |
43,644 | -51,355 | 30,489 | 25,380 | -44,655 | -4,037 | - | 850 | |
9905 |
43,644 | -51,355 | 30,489 | 25,380 | -44,655 | -4,037 | - | 850 | |
| Appropriation of the result | |||||||||
9906 |
316 | -43,328 | 8,026 | -22,462 | -47,842 | -3,187 | 850 | 850 | |
14P |
-43,328 | 8,026 | -22,462 | -47,842 | -3,187 | - | - | - | |
| Social balance sheet | |||||||||
9087 |
- | - | - | - | - | 0.5 | - | - | |
Hours worked1013 |
- | - | - | - | - | 304 | - | - | |
| Document | |||||||||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 28-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-04-2026 | 2026-00091057 | |
| 31-12-2024 | micro format | 31-03-2025 | 2025-00058796 | |
| 31-12-2023 | micro format | 08-10-2024 | 2024-00500048 | |
| 31-12-2022 | micro format | 09-02-2024 | 2024-00028705 | |
| 31-12-2021 | micro format | 16-06-2022 | 2022-20070989 | |
| 31-12-2020 | micro format | 07-04-2021 | 2021-09800565 | |
| 31-12-2019 | micro format | 25-03-2021 | 2021-08500455 | |
| 31-12-2018 | micro format | 04-06-2020 | 2020-14900503 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 59,548 | -28,954 | 48,897 | 32,058 | -28,050 | - | - | - | ||
| 58,778 | -36,221 | 45,623 | 30,710 | -39,325 | - | - | - | ||
| 0 | 0 | 49,021 | 0 | 26,650 | - | - | - | ||
| 4,341 | - | - | - | - | - | - | - | ||
| -693 | -56,326 | -11,331 | -933 | - | 15,413 | - | - | ||
| 76.7% | -69.8% | 50.9% | -14.5% | -137.2% | 96.9% | 100.0% | 100.0% | ||
| 0.88 | 0.01 | 0.17 | 0.92 | - | 31.86 | - | - | ||
| 0.30 | - | 0.96 | - | - | 0.03 | - | - | ||
| 230.7% | - | 114.5% | - | - | -26.2% | - | 4.4% | ||
| 177.1% | -144.9% | 58.3% | 95.6% | -209.4% | -25.4% | - | 4.4% | ||
| 77.32 | -3.98 | 63.17 | 25.67 | -2.90 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €49,021 | - | €26,650 |
| €15,134 | €15,134 | €15,134 | €5,330 | €5,330 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €44,414, after a loss of €44,088 in 2024. It is the highest result since 2018.
Debt's share of the balance-sheet total is 23.3%.
Further has no parent and no holdings in its annual accounts. Frans VAN HECKE is the only director. Further shares no director with another company.
| LOI INVEST
registered office since 13-08-2014 · founded in 2014 |
total assets €11.4m (2025) 0559.813.724 |
| Assurances Van Hecke
registered office since 13-11-1998 · founded in 1998 |
total assets €1.1m (2025) 0464.583.082 |
| BUREAU VAN HECKE & CO
registered office since 05-05-1991 · founded in 1991 |
total assets €602,615 (2025) 0444.294.939 |
| VAN HECKE F
registered office since 04-06-1992 · founded in 1992 · negative equity (2025) |
total assets €77,318 (2025) 0447.700.926 |
| BISMA
registered office since 05-11-1997 · founded in 1997 |
turnover €27,847 (2025) 0461.834.717 |
| AENOA
registered office since 12-08-1993 · founded in 1991 · negative equity (2025) |
total assets €1,363 (2025) 0444.813.888 |
| GROUPEMENT D'ETUDE SUR L'INGENIERIE PATRIMONIALE
establishment since 11-04-2012 · founded in 2012 · negative equity (2025) |
total assets €961 (2025) 0845.182.774 |
| Assurances Conings
registered office since 01-01-2026 |
founded in 2025 1032.391.487 |
| ARMY OF NATURE
registered office since 15-08-2025 |
founded in 2025 1026.535.261 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Louizalaan 345 registered office 1050 Ixelles | ||
| Louizalaan 343 1050 Ixelles | 06-10-2017 | 2.303.527.789 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21807G0215/00D000 | 290 m² | 1 · 144 m² | 37.8 m · 6 |
| 21807G0215/00H000 ProtectedMonumentTweede zetel van de Gestapo | 152 m² | 1 · 145 m² | 35.9 m · 6 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.
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