Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Of this, €157,026 falls due within a year.
Six of the last ten came late. The 2020 accounts came latest: 927 days after the end of the period.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.6% across 40,280 companies (NACE 47, micro).
About 1 in 100 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 47, micro). It does better than 19% of them on solvency, 20% on liquidity, 61% on profitability and 92% on growth.
The bankruptcy probability was computed on 06-11-2026 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 low class on 30-06-2025, 0.8% 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, 1,449 companies had the same profile as FUTURE NET has now. Each dot stands for 4 companies, two years later.
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FUTURE NET itself: 1.0% 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 1,449 companies, not a prediction for FUTURE NET. 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 0.44 (0.39 in 2024), below 1. Short-term debt is 63.5% and cash 4.2% of total assets. Equity is negative.
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 287 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| FUTURE NET Antwerp | €247,109 | €54,336 | -0.2% | - |
| LA C R E M E R I E Antwerp | €248,749 | €67,332 | 60.1% | 0.8 |
| FAZAL Antwerp | €209,373 | €69,861 | 27.0% | - |
| ROMEO Antwerp | €204,141 | €47,570 | 82.9% | - |
| HUMA Antwerp | €253,749 | €48,165 | 44.9% | - |
| D.P. PRODUCTIONS La Louvière | €254,822 | €47,088 | -0.8% | - |
| GEZONDHEIDSMARKT DE VRIJE NATUUR Houthalen-Helchteren | €247,358 | €61,386 | 73.6% | - |
These companies have the same main activity as FUTURE NET: non-specialised retail sale with food, beverages or tobacco predominating (NACE 47110). They are comparable in size and age: total assets between €204,000 and €255,000, founded between 1997 and 2003.
FUTURE NET files the micro format. That format states no turnover. The gross margin rose from -€13,405 in 2008 to €54,336 in 2025.
The balance sheet grew most in 2020 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 22% of 22,869 companies in 2025.
Higher than 11% of 22,000 companies in 2025.
Higher than 54% of 22,150 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
247,109 | 240,134 | 325,328 | 204,479 | 221,445 | 234,710 | 24,706 | 41,091 | 31,588 | 30,923 | 24,271 | 20,931 | 14,353 | 7,800 | 8,471 | |
21/28 |
177,953 | 181,274 | 167,990 | 172,328 | 180,624 | 188,921 | 313 | 783 | 1,567 | - | - | - | - | - | 1,020 | |
22/27 |
177,953 | 181,274 | 167,990 | 172,328 | 180,624 | 188,921 | 313 | 783 | 1,567 | - | - | - | - | - | 970 | |
22 |
167,990 | 167,990 | 167,990 | 167,990 | 171,949 | 175,908 | - | - | - | - | - | - | - | - | - | |
24 |
9,963 | 13,284 | 0 | 4,338 | 8,675 | 13,013 | 313 | 783 | 1,567 | - | - | - | - | - | 970 | |
28 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 50 | |
29/58 |
69,155 | 58,860 | 157,337 | 32,151 | 40,821 | 45,790 | 24,393 | 40,307 | 30,022 | 30,923 | 24,271 | 20,931 | 14,353 | 7,800 | 7,451 | |
3 |
31,631 | 31,555 | 21,752 | 15,671 | 23,781 | 23,027 | 18,500 | 12,353 | 12,119 | 12,376 | 16,307 | 12,212 | - | - | 2,500 | |
30/36 |
31,631 | 31,555 | 21,752 | 15,671 | 23,781 | 23,027 | 18,500 | 12,353 | 12,119 | 12,376 | 16,307 | 12,212 | - | - | 2,500 | |
40/41 |
27,018 | 19,846 | 127,611 | 11,950 | 10,800 | 16,842 | 2,510 | 2,202 | 7,882 | 10,890 | 6,087 | 4,084 | 11,687 | 7,355 | 2,931 | |
40 |
27,018 | 14,847 | 127,611 | 5,665 | 4,327 | 11,708 | 710 | 2,182 | 4,743 | 10,551 | 5,419 | - | - | 6,000 | - | |
41 |
0 | 4,999 | 0 | 6,285 | 6,473 | 5,133 | 1,800 | 20 | 3,140 | 339 | 668 | 4,084 | 11,687 | 1,355 | 2,931 | |
54/58 |
10,394 | 7,459 | 7,974 | 400 | 6,239 | 5,921 | 3,382 | 25,753 | 10,021 | 7,657 | 1,876 | 4,635 | 2,665 | 445 | 1,508 | |
490/1 |
112 | - | 0 | 4,130 | - | - | - | - | - | - | - | - | - | - | 512 | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
247,109 | 240,134 | 325,328 | 204,479 | 221,445 | 234,710 | 24,706 | 41,091 | 31,588 | 30,923 | 24,271 | 20,931 | 14,353 | 7,800 | 8,471 | |
10/15 |
-411 | -12,193 | -21,293 | -25,192 | 1,304 | 344 | 12,872 | 27,997 | 23,941 | 24,990 | 13,630 | 6,308 | 3,694 | 4,416 | -105,433 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 12,400 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,200 | 400 | 200 | 200 | - | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,200 | 400 | 200 | 200 | - | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | |
14 |
-20,871 | -32,653 | -41,753 | -45,652 | -19,156 | -20,116 | -1,388 | 13,737 | 9,681 | 10,730 | 30 | -6,492 | -8,906 | -8,184 | -111,633 | |
17/49 |
247,519 | 252,327 | 346,620 | 229,672 | 220,141 | 234,366 | 11,834 | 13,094 | 7,648 | 5,934 | 10,641 | 14,623 | 10,659 | 3,384 | 113,903 | |
17 |
90,493 | 99,627 | 108,535 | 121,405 | 132,072 | 143,722 | - | - | - | - | - | - | - | - | - | |
170/4 |
90,493 | 99,627 | 108,535 | 121,405 | 132,072 | 143,722 | - | - | - | - | - | - | - | - | - | |
42/48 |
157,026 | 152,700 | 238,085 | 108,267 | 88,069 | 90,644 | 11,834 | 13,094 | 7,648 | 5,934 | 10,641 | 14,623 | 10,659 | 3,384 | 113,903 | |
42 |
9,134 | 8,908 | 11,613 | 11,923 | 12,906 | 11,383 | - | - | - | - | - | - | - | - | - | |
43 |
0 | 1,065 | 0 | 278 | 2,835 | 9,875 | - | - | - | - | - | - | - | - | - | |
430/8 |
0 | 1,065 | 0 | 278 | 2,835 | 9,875 | - | - | - | - | - | - | - | - | - | |
44 |
51,263 | 52,970 | 133,578 | 38,676 | 6,217 | - | 584 | 1,189 | 5,879 | 725 | 3,761 | 4,338 | 2,637 | 1,713 | 12,518 | |
440/4 |
51,263 | 52,970 | 133,578 | 38,676 | 6,217 | - | 584 | 1,189 | 5,879 | 725 | 3,761 | 4,338 | 2,637 | 1,713 | 12,518 | |
45 |
1,304 | 2,035 | 3,315 | 1,586 | - | - | 2,250 | 1,683 | 1,769 | 4,400 | - | - | 3,043 | - | - | |
450/3 |
1,304 | 2,035 | 3,315 | 1,586 | - | - | 2,250 | 1,683 | 1,769 | 4,400 | - | - | 3,043 | - | - | |
47/48 |
95,325 | 87,722 | 89,578 | 55,804 | 66,111 | 69,386 | 9,000 | 10,222 | - | 809 | 6,880 | 10,285 | 4,979 | 1,671 | 101,385 | |
| Income statement | ||||||||||||||||
70 |
- | - | - | - | - | - | - | 507,579 | 459,236 | - | 459,911 | 416,488 | 380,362 | 157,169 | - | |
76A |
- | - | - | - | - | - | - | - | 300 | - | - | - | - | - | - | |
9900 |
54,336 | 20,425 | 17,011 | -8,199 | 15,161 | -8,182 | -9,812 | 8,043 | 1,998 | 16,519 | 14,312 | 6,246 | 6,605 | 5,769 | -13,405 | |
60/61 |
- | - | - | - | - | - | - | 499,671 | 457,748 | - | 445,680 | 414,672 | 375,017 | 152,767 | - | |
630 |
3,321 | 3,321 | 4,338 | 8,296 | 8,296 | 7,387 | 470 | 783 | 783 | - | - | - | - | - | 1,615 | |
640/8 |
3,153 | 1,621 | 6,058 | 5,919 | 1,664 | 1,768 | 4,842 | 868 | 2,456 | 660 | 4,936 | 1,701 | 290 | 1,178 | 503 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,226 | |
9901 |
47,862 | 15,483 | 6,615 | -22,415 | 5,201 | -17,337 | -15,124 | 6,391 | -1,242 | 15,860 | 9,377 | 4,545 | 6,315 | 4,591 | -15,523 | |
75/76B |
1,292 | 80 | 47 | 6 | - | 640 | 220 | 251 | 257 | 15 | 1 | 36 | - | 0 | - | |
75 |
25 | 80 | 47 | 6 | - | 640 | 220 | 251 | 257 | 15 | 1 | 36 | - | 0 | - | |
76B |
1,267 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
6,868 | 6,463 | 6,320 | 4,088 | 4,241 | 2,031 | 220 | 170 | 394 | 115 | 1,383 | 50 | 38 | 62 | 68 | |
65 |
6,868 | 6,463 | 6,320 | 4,088 | 4,241 | 2,031 | 220 | 170 | 394 | 115 | 1,383 | 50 | 38 | 62 | 68 | |
9903 |
42,286 | 9,100 | 341 | -26,496 | 960 | -18,728 | -15,125 | 6,472 | -1,378 | 15,760 | 7,995 | 4,531 | 6,278 | 4,529 | -19,816 | |
67/77 |
30,504 | - | - | - | - | - | - | 2,416 | -329 | 4,400 | 672 | 1,917 | 7,000 | 2,859 | - | |
9904 |
11,782 | 9,100 | 341 | -26,496 | 960 | -18,728 | -15,125 | 4,056 | -1,049 | 11,360 | 7,322 | 2,614 | -722 | 1,670 | -19,816 | |
9905 |
11,782 | 9,100 | 341 | -26,496 | 960 | -18,728 | -15,125 | 4,056 | -1,049 | 11,360 | 7,322 | 2,614 | -722 | 1,670 | -19,816 | |
| Appropriation of the result | ||||||||||||||||
9906 |
-20,871 | -32,653 | -41,753 | -45,652 | -19,156 | -20,116 | -1,388 | 13,737 | 9,681 | 11,390 | 830 | -6,292 | -8,906 | -7,984 | -111,633 | |
14P |
-32,653 | -41,753 | -42,094 | -19,156 | -20,116 | -1,388 | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 660 | 800 | 200 | - | 200 | - | |
6920 |
- | - | - | - | - | - | - | - | - | 660 | 800 | 200 | - | 200 | - | |
| Document | ||||||||||||||||
The accounts for 3 older financial years (2003-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 12-08-2026.
2025 annual accounts filed 12 days after the deadline. Filed on 12 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00394264.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-08-2026 | 2026-00394264 | |
| 31-12-2024 | micro format | 06-10-2025 | 2025-00535556 | |
| 31-12-2023 | micro format | 09-12-2024 | 2024-00615913 | |
| 31-12-2022 | micro format | 17-06-2024 | 2024-00144348 | |
| 31-12-2021 | micro format | 13-02-2024 | 2024-00032526 | |
| 31-12-2020 | micro format | 13-02-2024 | 2024-00029535 | |
| 31-12-2019 | micro format | 22-07-2020 | 2020-33000368 | |
| 31-12-2018 | micro format | 23-07-2019 | 2019-36300226 | |
| 31-12-2017 | micro format | 04-06-2018 | 2018-15500109 | |
| 31-12-2016 | micro format | 24-05-2017 | 2017-13100447 | |
| 31-12-2015 | abbreviated format | 29-07-2016 | 2016-37500003 | |
| 31-12-2014 | abbreviated format | 26-06-2015 | 2015-21800539 | |
| 31-12-2013 | abbreviated format | 30-06-2014 | 2014-24900577 | |
| 31-12-2012 | abbreviated format | 25-06-2013 | 2013-21000165 | |
| 31-12-2008 | abbreviated format | 31-08-2009 | 2009-72700021 | |
| 31-12-2005 | abbreviated format | 27-12-2006 | 2006-94002180 | |
| 31-12-2004 | abbreviated format | 14-07-2005 | 2005-50300856 | |
| 31-12-2003 | abbreviated format | 15-07-2004 | 2004-47404670 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 51,183 | 18,804 | 10,953 | -14,118 | 13,497 | -9,950 | -14,654 | 7,175 | -458 | - | - | - | - | - | -13,908 | ||
| 15,103 | 12,421 | 4,679 | -18,200 | 9,257 | -11,341 | -14,655 | 4,840 | -266 | - | - | - | - | - | -18,201 | ||
| 0 | 16,605 | 0 | 0 | 0 | 195,995 | 0 | 0 | 2,350 | - | - | - | - | - | - | ||
| 2,935 | -515 | 7,574 | -5,839 | 318 | 2,539 | -22,370 | 15,732 | 2,363 | 5,781 | -2,759 | 1,970 | 2,220 | - | - | ||
| -87,871 | -93,840 | -80,748 | -76,115 | -47,248 | -44,854 | 12,559 | 27,214 | 22,374 | 24,990 | 13,630 | 6,308 | 3,694 | 4,416 | -106,452 | ||
| - | - | - | - | - | - | - | 1.3% | -0.3% | - | 2.0% | 1.1% | 1.7% | 2.9% | - | ||
| -0.2% | -5.1% | -6.5% | -12.3% | 0.6% | 0.1% | 52.1% | 68.1% | 75.8% | 80.8% | 56.2% | 30.1% | 25.7% | 56.6% | - | ||
| 0.44 | 0.39 | 0.66 | 0.30 | 0.46 | 0.51 | 2.06 | 3.08 | 3.93 | 5.21 | 2.28 | 1.43 | 1.35 | 2.30 | 0.07 | ||
| 0.24 | 0.18 | 0.57 | 0.15 | 0.19 | 0.25 | 0.50 | 2.13 | 2.34 | 3.13 | 0.75 | 0.60 | 1.35 | 2.30 | 0.04 | ||
| - | - | - | - | - | - | 0.92 | 0.47 | 0.32 | 0.24 | 0.78 | 2.32 | 2.89 | 0.77 | - | ||
| - | - | - | - | 73.6% | - | -117.5% | 14.5% | -4.4% | 45.5% | 53.7% | 41.4% | -19.6% | 37.8% | - | ||
| 4.8% | 3.8% | 0.1% | -13.0% | 0.4% | -8.0% | -61.2% | 9.9% | -3.3% | 36.7% | 30.2% | 12.5% | -5.0% | 21.4% | -233.9% | ||
| 7.45 | 2.91 | 1.73 | -3.45 | 3.18 | -4.90 | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | 2 days | 4 days | - | 4 days | 4 days | 11 days | 14 days | - | ||
| - | - | - | - | - | - | - | 1 day | 5 days | - | 3 days | 4 days | 3 days | 4 days | - |
The equity ratios are withheld because equity of -€411 is too small for a meaningful ratio.
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 | - | €16,605 | - | - | - |
| Financial fixed assets | €0 | - | - | - | - |
| €3,321 | €3,321 | €4,338 | €8,296 | €8,296 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 3.1 times that of 2024 and the highest since 2008. It is the third rise in a row, after the fall in 2022.
Equity is negative. Debt (€247,519) exceeds the balance-sheet total (€247,109).
FUTURE NET has no parent and no holdings in its annual accounts. Naeem Muhammad is the only director. FUTURE NET shares no director with another company.
| Rayan
registered office since 22-12-2015 · founded in 2015 |
turnover €280,090 (2025) 0644.758.703 |
| BOUKIRAR
registered office since 08-11-2022 · founded in 2022 · accounts filed late |
total assets €54,549 (2024) 0793.397.642 |
| PAAK
registered office since 11-09-2026 |
founded in 2026 1042.369.621 |
| HOY International
establishment since 21-06-2026 |
founded in 2026 1035.069.281 |
| SERP-VW
registered office since 12-01-2026 |
founded in 2026 1032.867.876 |
| Embrechts, Olivier (sole trader)
establishment since 01-02-2023 |
founded in 2023 0743.891.515 |
| Quadflieg, Joeri (sole trader)
establishment since 01-09-2020 |
founded in 2020 0753.519.754 |
| MAIE
registered office since 14-12-2019 |
founded in 2019 0739.599.759 |
| Vereniging van Mede-eigenaars te Antwerpen-Linkeroever, Frederik van Eedenplein, groot 12 a 45 ca
registered office since 01-08-1995 |
founded in 1995 0830.644.652 |
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 | FASFC approval |
|---|---|---|---|
| Frederik van Eedenplein 6 registered office 2050 Antwerp | 02-08-2002 | 2.096.264.228 | Retail trade |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11813N0909/00Z003 | 1,265 m² | 1 · 392 m² | 29.0 m · 9 |
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