KFJ
ActiveSummary
KFJ has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€3,925) and a net result of -€58,369. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-68
Solvency6▼-75
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.75 against 2.14 in 2024; short-term debt: 119.5% and cash: 25.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-19.5%
Return on assets
-289.3%
Age of the figures
15 mo
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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€3,925
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-11-2025, 64 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
64 d early
2024
72 d early
2023
65 d early
2022
71 d early
2021
54 d early
2020
66 d early
2019
67 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 66 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 27 November (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Equity
-€3,925
2024 · €54,444
Total assets
€20,174▼ 79.4%
2024 · €98,058
Net result
-€58,369
2024 · €61,248
Working capital
-€6,032
2024 · €49,519
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€129,189▲ 21.2%€117,204▼ 9.3%€37,244▼ 68.2%€136,750▲ 267%-€57,634
Net result-€972within the sector's middle half€19,433within the sector's middle half-€27,697below the sector's middle half€61,248above the sector's middle half-€58,369below the sector's middle half
Equity€20,460within the sector's middle half▼ 60.5%€20,893within the sector's middle half▲ 2.1%-€6,804below the sector's middle half€54,444within the sector's middle half-€3,925below the sector's middle half
Total assets€73,333below the sector's middle half▼ 21.3%€50,420below the sector's middle half▼ 31.2%€16,990below the sector's middle half▼ 66.3%€98,058below the sector's middle half▲ 477%€20,174below the sector's middle half▼ 79.4%
Debt€52,873▲ 27.8%€29,527▼ 44.2%€23,793▼ 19.4%€43,614▲ 83.3%€24,099▼ 44.7%
Working capital€13,024within the sector's middle half▼ 70.8%€10,333within the sector's middle half▼ 20.7%-€14,547within the sector's middle half€49,519within the sector's middle half-€6,032within the sector's middle half
Solvency27.9%within the sector's middle half▼ 27.7pp41.4%within the sector's middle half▲ 13.5pp-40.0%below the sector's middle half▼ 81.5pp55.5%within the sector's middle half▲ 95.6pp-19.5%below the sector's middle half▼ 75.0pp
Current ratio1.25within the sector's middle half▼ 0.831.35within the sector's middle half▲ 0.100.39within the sector's middle half▼ 0.962.14within the sector's middle half▲ 1.750.75within the sector's middle half▼ 1.39
Return on assets (ROA)-1.3%within the sector's middle half▼ 46.8pp38.5%above the sector's middle half▲ 39.9pp-163.0%below the sector's middle half▼ 201.6pp62.5%above the sector's middle half▲ 225.5pp-289.3%below the sector's middle half▼ 351.8pp
Staff (FTE)1=1=1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €57,634 after €136,750 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €20,174
Fixed assets
€2,107 ▼ 57.2%
Current assets
€18,067 ▼ 80.6%
Key figures and ratios
EBITDA
-€54,817▼
2024 · €139,568
Cash flow
-€55,552▼
2024 · €64,066
Debt to equity
-6.14▼
2024 · 0.80
Interest coverage
-175.04▼
2024 · 2.20
Debt ≤ 1 year
€24,099▼
2024 · €43,614
Income taxes
€937▼
2024 · €12,473
Staff costs
€62,140▲
2024 · €59,769
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,940 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.0%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 6,940 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €52,441 | €57,534 | €59,769 | €62,140 | ▲ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,856 | €3,744 | €2,818 | €2,818 | €2,818 | = |
| Other operating charges640/8 | - | €1,478 | €592 | €858 | €528 | ▼ 38.4% |
| Gross operating margin9900 | €176,853 | €174,867 | €98,187 | €200,195 | €7,852 | ▼ 96.1% |
| Operating profit (loss)9901 | €129,189 | €117,204 | €37,244 | €136,750 | -€57,634 | ▼ 142% |
| Financial income75/76B | - | €8,589 | €440 | €459 | €515 | ▲ 12.4% |
| Recurring financial income75 | €341 | €8,513 | €440 | €459 | €515 | ▲ 12.4% |
| Non-recurring financial income76B | - | €76 | - | - | - | - |
| Financial charges65/66B | - | €100,503 | €64,266 | €63,487 | €313 | ▼ 99.5% |
| Recurring financial charges65 | €128,275 | €100,503 | €64,266 | €63,487 | €313 | ▼ 99.5% |
| Profit (loss) for the period before taxes9903 | €1,254 | €25,289 | -€26,582 | €73,721 | -€57,432 | ▼ 178% |
| Income taxes67/77 | €2,226 | €5,856 | €1,114 | €12,473 | €937 | ▼ 92.5% |
| Profit (loss) for the period9904 | -€972 | €19,433 | -€27,697 | €61,248 | -€58,369 | ▼ 195% |
| Profit (loss) for the period to be appropriated9905 | -€972 | €19,433 | -€27,697 | €61,248 | -€58,369 | ▼ 195% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €73,333 | €50,420 | €16,990 | €98,058 | €20,174 | ▼ 79.4% |
| Fixed assets21/28 | €7,436 | €10,561 | €7,743 | €4,925 | €2,107 | ▼ 57.2% |
| Tangible fixed assets22/27 | €7,221 | €10,345 | €7,527 | €4,709 | €1,891 | ▼ 59.8% |
| Other tangible fixed assets26 | - | €10,345 | €7,527 | €4,709 | €1,891 | ▼ 59.8% |
| Financial fixed assets28 | €216 | €216 | €216 | €216 | €216 | = |
| Current assets29/58 | €65,896 | €39,860 | €9,247 | €93,133 | €18,067 | ▼ 80.6% |
| Amounts receivable within one year40/41 | €23,987 | €20,389 | €7,522 | €47,522 | €11,822 | ▼ 75.1% |
| Trade receivables40 | - | €15,125 | - | €40,000 | - | - |
| Other amounts receivable41 | - | €5,264 | €7,522 | €7,522 | €11,822 | ▲ 57.2% |
| Cash at bank and in hand54/58 | €41,790 | €19,471 | €1,725 | €45,611 | €5,185 | ▼ 88.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,059 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €73,333 | €50,420 | €16,990 | €98,058 | €20,174 | ▼ 79.4% |
| Equity10/15 | €20,460 | €20,893 | -€6,804 | €54,444 | -€3,925 | ▼ 107% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €2,579 | €433 | -€27,264 | €33,984 | -€24,385 | ▼ 172% |
| Amounts payable17/49 | €52,873 | €29,527 | €23,793 | €43,614 | €24,099 | ▼ 44.7% |
| Amounts payable within one year42/48 | €52,873 | €29,527 | €23,793 | €43,614 | €24,099 | ▼ 44.7% |
| Trade debts44 | €233 | €679 | €12,465 | €7,115 | €701 | ▼ 90.1% |
| Suppliers440/4 | - | €679 | €12,465 | €7,115 | €701 | ▼ 90.1% |
| Taxes, remuneration and social security45 | - | €12,699 | €11,328 | €36,499 | €23,398 | ▼ 35.9% |
| Taxes450/3 | - | €9,194 | €7,435 | €32,548 | €17,745 | ▼ 45.5% |
| Remuneration and social security454/9 | - | €3,505 | €3,893 | €3,951 | €5,653 | ▲ 43.1% |
| Other amounts payable47/48 | - | €16,150 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€972 | €19,433 | -€27,697 | €61,248 | -€58,369 | ▼ 195% |
| + Depreciation and write-downs630 | €3,856 | €3,744 | €2,818 | €2,818 | €2,818 | = |
| Operating cash flow (approximation) | €2,885 | €23,177 | -€24,879 | €64,066 | -€55,552 | ▼ 187% |
| Investment in fixed assets (approximation) | - | -€6,868 | €0 | €0 | €0 | - |
| Change in cash | - | -€22,318 | -€17,746 | €43,886 | -€40,426 | ▼ 192% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
28-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Weakest financial yearnet -€58,369
Net result drops to -€58,369, the lowest in the series.
2024
20-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Back to profitnet €61,248
Net result €61,248 after one loss-making year.
30-06
Financial
Liquidity times 5current ratio 2.14
Current ratio from 0.39 to 2.14.
2023
27-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
06-07
State Gazette act
General meeting · Director reappointment
Permanent representative
2022
21-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €19,433
Net result €19,433 after one loss-making year.
2021
08-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Liquidity doublescurrent ratio 2.08
Current ratio from 0.86 to 2.08.
Show earlier events
2019
25-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
21-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Waterloo · 1 establishment unit since 2016
Ground area
706 m²
Building footprint
143 m²
Parcel 25764O0179/00H002, Wallonia. Linked by address, not a title deed.
1 establishment unit
Avenue de la Croix du Sud 2A, 1410 Waterloo
since 20162.249.567.877
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25764O0179/00H002 | Wallonia | 706 m² | 1 · 143 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
2 locations
Recognitions · licences · registrations
Legal Entity Identifier
549300UV7T5Q6O8T8Q16
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 5,075 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-01-2016
Fiscal year end30-06
Activities, NACEBEL 2025
68121Development of residential building projects
70200Business and other management consultancy
68122Development of non-residential building projects
46190Agents in non-specialised wholesale trade
64310Financial service activities, except insurance and pension funding
71121Engineering and related technical consultancy, excluding land surveyors
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0645858761
Also
9925:BE0645858761
Registered
24-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.