FUTURE CHANGES
ActiveSummary
The computed 12-month bankruptcy probability of FUTURE CHANGES is 6.3% (elevated). The 2025 annual accounts show equity of €23,220 and a net result of €1,690. Equity is growing by about 45% per year across the filed financial years. Its solvency ranks better than 24% of 9,327 sector peers (NACE 41, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €23,220
- Profit
- €1,690
Why 36raises riskFounded in 2023Sector: Construction of residential and non-residential buildings (NACE 41)Size: turnover €718,938, total assets €132,987Last filed accounts filed 27 days late; 1 of the last 3 lateShow the evidence
Checked score
About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 41, micro): better than 24% on solvency, 25% on liquidity, 32% on profitability and 73% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 3 accounts on average 10 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet €1,690 ▼42.8%
- Resignation: Hriscu Mihai-Florin (director)Share transfer · Capital ·…
Financials · financial year 2025, micro format
2025 annual accounts filed late (27 days) Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00458640.
2023 to 2025, 3 financial years
The operating result has fallen two years in a row; 2025 is 20% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 2,542 companies that looked in July 2024 the way this one looks now, 3.5% went bankrupt within 24 months and 94.8% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 6.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,542 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Turnover70 | €307,155 | €625,914 | €718,938 | ▲ 14.9% |
| Goods, raw materials, services and sundry goods60/61 | €295,564 | €615,735 | €701,670 | ▲ 14.0% |
| Remuneration, social security and pensions62 | - | €426 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €190 | €4,990 | €12,586 | ▲ 152% |
| Other operating charges640/8 | - | €388 | €1,197 | ▲ 208% |
| Gross operating margin9900 | €11,592 | €10,179 | €17,268 | ▲ 69.6% |
| Operating profit (loss)9901 | €11,402 | €4,376 | €3,485 | ▼ 20.3% |
| Financial income75/76B | €45 | €1 | €12 | ▲ 25× |
| Recurring financial income75 | €45 | €1 | €12 | ▲ 25× |
| Financial charges65/66B | €11 | €510 | €434 | ▼ 14.8% |
| Recurring financial charges65 | €11 | €510 | €434 | ▼ 14.8% |
| Profit (loss) for the period before taxes9903 | €11,436 | €3,866 | €3,064 | ▼ 20.8% |
| Income taxes67/77 | €2,859 | €913 | €1,374 | ▲ 50.4% |
| Profit (loss) for the period9904 | €8,577 | €2,953 | €1,690 | ▼ 42.8% |
| Profit (loss) for the period to be appropriated9905 | €8,577 | €2,953 | €1,690 | ▼ 42.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €46,129 | €75,859 | €132,987 | ▲ 75.3% |
| Fixed assets21/28 | €710 | €37,732 | €50,350 | ▲ 33.4% |
| Tangible fixed assets22/27 | €710 | €37,732 | €50,350 | ▲ 33.4% |
| Plant, machinery and equipment23 | €710 | €3,118 | €4,055 | ▲ 30.0% |
| Furniture and vehicles24 | - | €34,614 | €46,295 | ▲ 33.7% |
| Current assets29/58 | €45,419 | €38,127 | €82,636 | ▲ 117% |
| Amounts receivable within one year40/41 | €38,393 | €34,367 | €74,081 | ▲ 116% |
| Trade receivables40 | €37,918 | €33,441 | €72,444 | ▲ 117% |
| Other amounts receivable41 | €475 | €926 | €1,637 | ▲ 76.7% |
| Cash at bank and in hand54/58 | €7,026 | €3,760 | €8,556 | ▲ 128% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €46,129 | €75,859 | €132,987 | ▲ 75.3% |
| Equity10/15 | €10,777 | €13,730 | €23,220 | ▲ 69.1% |
| Contributions10/11 | €2,200 | €2,200 | €10,000 | ▲ 355% |
| Profit (loss) carried forward14 | €8,577 | €11,530 | €13,220 | ▲ 14.7% |
| Amounts payable17/49 | €35,352 | €62,129 | €109,766 | ▲ 76.7% |
| Amounts payable after more than one year17 | - | €36,123 | €37,398 | ▲ 3.5% |
| Financial debts170/4 | - | €36,123 | €37,398 | ▲ 3.5% |
| Amounts payable within one year42/48 | €35,352 | €26,006 | €72,368 | ▲ 178% |
| Financial debts43 | - | - | €12,695 | - |
| Credit institutions430/8 | - | - | €12,695 | - |
| Trade debts44 | €32,493 | €9,028 | €43,161 | ▲ 378% |
| Suppliers440/4 | €32,493 | €9,028 | €43,161 | ▲ 378% |
| Taxes, remuneration and social security45 | €2,859 | €2,462 | €3,266 | ▲ 32.7% |
| Taxes450/3 | €2,859 | €2,462 | €3,266 | ▲ 32.7% |
| Other amounts payable47/48 | - | €14,516 | €13,245 | ▼ 8.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,577 | €2,953 | €1,690 | ▼ 42.8% |
| + Depreciation and write-downs630 | €190 | €4,990 | €12,586 | ▲ 152% |
| Operating cash flow (approximation) | €8,767 | €7,943 | €14,277 | ▲ 79.7% |
| Investment in fixed assets (approximation) | - | -€42,012 | -€25,204 | ▲ 40.0% |
| Change in cash | - | -€3,267 | €4,796 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 27-08-2026 | 2026-00458640 |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00229984 |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00456579 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| RACAUTANU Cosmin-Constantin |
|
| Hriscu Mihai-Florin |
|
Owners and capital
Capital and shareholders
- Răcăutanu Cosmin-Constantin 84 shares
- Hriscu Mihai-Florin 2 shares
- Pitariu lulian Alexandru 2 shares
- Chirica Gheorghe 2 shares
- Pinzariu Cosmin Danut 2 shares
- Daroczi Cosmin loan 2 shares
- Racautanu Cristinel 2 shares
- Claudiu Plesca 2 shares
- Racautanu Narcis 2 shares
- Hriscu Mihai-Florin to Răcăutanu Cosmin-Constantin 35 shares
- Mihai-Florin Hriscu to Claudiu Pleşca 2 shares
- Cosmin-Constantin Răcăutanu to Racautanu Narcis 2 shares
- Pitariu Constantin werkend vennoot · 2 shares
- Chirica Gheorghe werkend vennoot · 2 shares
- Pinzariu Cosmin Danut werkend vennoot · 2 shares
- Daroczi Cosmin loan werkend vennoot · 2 shares
- Racautanu Cristinel werkend vennoot · 2 shares
- Racautanu Cosmin-Constantin 51 shares
- Hriscu Mihai-Florin 39 shares
- Hriscu Mihai-Florin to Pitariu Constantin 2 shares
- Hriscu Mihai-Florin to Chirica Gheorghe 2 shares
- Hriscu Mihai-Florin to Pinzariu Cosmin Danut 2 shares
- Racautanu Cosmin-Constantin to Daroczi Cosmin loan 2 shares
- Racautanu Cosmin-Constantin to Racautanu Cristinel 2 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 30-12-2025 Capital stated in the deed · 100 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
30-12
Gazette deed
Resignation: Hriscu Mihai-Florin (director)Share transfer · Capital · Shareholding7 facts ▸
- General meeting, 03-09-2025
- Other provision, “agenda, Ontslag van Hriscu Mihai-Florin als bestuurder en overdracht van 35 aandelen aan Răcăutanu Cosmin-Constantin” (deed in Dutch)
- Director resignation, Hriscu Mihai-Florin (director)
- Share transfer, Hriscu Mihai-Florin → Răcăutanu Cosmin-Constantin
- Capital
- Shareholding, 84
- Shareholding, 2 (8 times)
04-03
Gazette deed
Capital & sharesShare transfer4 facts ▸
- General meeting, 10-12-2024
- Share transfer, Mihai-Florin Hriscu → Claudiu Pleşca
- Other provision, 2, “toelating als vennoot” (deed in Dutch) (2 times)
- Share transfer, Cosmin-Constantin Răcăutanu → Racautanu Narcis
10-05
Gazette deed
Capital & shares · Resignations & appointmentsShare transfer · Partner · Shareholding16 facts ▸
- General meeting, 04-01-2024
- Other provision, “geldige samenstelling en beraadslaging algemene vergadering, vereiste meerderheid” (deed in Dutch)
- Share transfer, Hriscu Mihai-Florin → Pitariu Constantin
- Partner, Pitariu Constantin (werkend vennoot)
- Share transfer, Hriscu Mihai-Florin → Chirica Gheorghe
- Partner, Chirica Gheorghe (werkend vennoot)
- Share transfer, Hriscu Mihai-Florin → Pinzariu Cosmin Danut
- Partner, Pinzariu Cosmin Danut (werkend vennoot)
- Share transfer, Racautanu Cosmin-Constantin → Daroczi Cosmin loan
- Partner, Daroczi Cosmin loan (werkend vennoot)
- Share transfer, Racautanu Cosmin-Constantin → Racautanu Cristinel
- Partner, Racautanu Cristinel (werkend vennoot)
- +4 further facts in this act
22-03
Gazette deed
IncorporationAppointments: RACAUTANU Cosmin-Constantin (director) and HRISCU Mihai-Florin (director) · Registered office clause · Board rule9 facts ▸
- Registered office clause, “1780 Wemmel,Johan De Ridderlaan 73” (deed in Dutch)
- Board rule, 2
- Director appointment, RACAUTANU Cosmin-Constantin (director)
- Director appointment, HRISCU Mihai-Florin (director)
- Incorporation, “FUTURE CHANGES” (deed in Dutch)
- Founder, RACAUTANU Cosmin-Constantin
- Founder, HRISCU Mihai-Florin
- Founding capital, €10,000
- Other provision, “STATUTEN, statuten” (deed in Dutch)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0799.705.612
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 22662B0400/00K010 | Flanders | 229 m² | 1 · 129 m² | 14.2 m · 4 |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- FUTURE CHANGES
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, met of zonder beperking van duur” (deed in Dutch)“Vergoeding bestuurders, algemene kosten los van representatie- reis- en verplaatsingskosten” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Helft overdrager helft koper(s) naar evenredigheid verworven aantal bij meer kopers, bij aangetekende brief aan bestuursorgaan met naam…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Monday of June at 17:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vereist voor statutenwijziging, op elk moment” (deed in Dutch)“Besluiten over ontbinding of aangekondigde continuïteitsmaatregelen, ontbinding wegens verlies-alarmbelprocedure” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bestuurder(s) in functie indien geen andere vereffenaar benoemd, één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen en vergoeding…” (deed in Dutch)