PRO FORMA
ActiveSummary
The computed 12-month bankruptcy probability of PRO FORMA is 2.2% (moderate). The 2025 annual accounts show negative equity (-€110,597) and a net result of €7,434. Equity is growing by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 11% of 409 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 2 administrative register entries (see administrative flags).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+25
Solvency0=
Growth52=
Track record84
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.75 against 0.65 in 2024; short-term debt: 129.7% and cash: 1.4% of total assets), and equity is negative.
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Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Manufacture of furniture (NACE 31)
about 43% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
-34.2%
Return on assets
2.3%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 409 sector peers (2025).
NBB · sector comparisonPosition among 409 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 06-02-2026, 6 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
6 d late
2024
371 d late
2023
737 d late
2022
28 d late
2021
27 d late
2019
28 d late
2018
on the day
← 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 171 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
2 publications by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
Address struckAddress strikeout annulled
Checked, nothing found (1)
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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€110,597▲ 6.3%
2024 · -€118,031
Total assets
€323,127▲ 65.4%
2024 · €195,416
Net result
€7,434▲ 141%
2024 · €3,082
Working capital
-€103,756▲ 1.4%
2024 · -€105,229
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 31, Manufacture of furniture, 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-€4,892€1,480€5,517▲ 273%€9,956▲ 80.5%
Net result-€4,892below the sector's middle half€1,480within the sector's middle half€3,082within the sector's middle half▲ 108%€7,434within the sector's middle half▲ 141%
Equity-€144,301below the sector's middle half--€122,592below the sector's middle half▲ 15.0%-€121,113below the sector's middle half▲ 1.2%-€118,031below the sector's middle half▲ 2.5%-€110,597below the sector's middle half▲ 6.3%
Total assets€65,473below the sector's middle half-€189,309within the sector's middle half▲ 189%€152,792within the sector's middle half▼ 19.3%€195,416within the sector's middle half▲ 27.9%€323,127within the sector's middle half▲ 65.4%
Debt€209,773-€311,901▲ 48.7%€273,904▼ 12.2%€313,446▲ 14.4%€433,724▲ 38.4%
Working capital-€134,316below the sector's middle half--€117,342below the sector's middle half▲ 12.6%-€109,214below the sector's middle half▲ 6.9%-€105,229below the sector's middle half▲ 3.6%-€103,756below the sector's middle half▲ 1.4%
Solvency-220.4%below the sector's middle half--64.8%below the sector's middle half▲ 155.6pp-79.3%below the sector's middle half▼ 14.5pp-60.4%below the sector's middle half▲ 18.9pp-34.2%below the sector's middle half▲ 26.2pp
Current ratio0.31below the sector's middle half-0.61below the sector's middle half▲ 0.300.58below the sector's middle half▼ 0.030.65below the sector's middle half▲ 0.070.75below the sector's middle half▲ 0.10
Return on assets (ROA)-2.6%within the sector's middle half1.0%within the sector's middle half▲ 3.6pp1.6%within the sector's middle half▲ 0.6pp2.3%within the sector's middle half▲ 0.7pp
above
within
below
the middle half (P25 to P75) of NACE 31, Manufacture of furniture, 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 has risen three years in a row; 2025 is 80% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €323,127
Fixed assets
€7,659 ▲ 351%
Current assets
€315,468 ▲ 62.9%
Key figures and ratios
EBITDA
€11,241▲
2024 · €7,551
Cash flow
€8,719▲
2024 · €5,116
Debt to equity
-3.92▼
2024 · -2.66
Interest coverage
73.41▲
2024 · 3.10
Debt ≤ 1 year
€419,224▲
2024 · €298,946
Income taxes
€2,368
Staff costs
€22
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.1%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% over twelve months; the group does not contradict it.
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 1,448 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 | - | - | - | - | €22 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €2,973 | €2,973 | €2,035 | €1,285 | ▼ 36.8% |
| Other operating charges640/8 | - | €369 | €1,167 | €1,485 | €417 | ▼ 71.9% |
| Gross operating margin9900 | - | -€1,550 | €5,620 | €9,037 | €11,680 | ▲ 29.2% |
| Operating profit (loss)9901 | - | -€4,892 | €1,480 | €5,517 | €9,956 | ▲ 80.5% |
| Financial income75/76B | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €2,435 | €153 | ▼ 93.7% |
| Recurring financial charges65 | - | - | - | €2,435 | €153 | ▼ 93.7% |
| Profit (loss) for the period before taxes9903 | - | -€4,892 | €1,480 | €3,082 | €9,802 | ▲ 218% |
| Income taxes67/77 | - | - | - | - | €2,368 | - |
| Profit (loss) for the period9904 | - | -€4,892 | €1,480 | €3,082 | €7,434 | ▲ 141% |
| Profit (loss) for the period to be appropriated9905 | - | -€4,892 | €1,480 | €3,082 | €7,434 | ▲ 141% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €65,473 | €189,309 | €152,792 | €195,416 | €323,127 | ▲ 65.4% |
| Fixed assets21/28 | €4,515 | €5,574 | €2,601 | €1,699 | €7,659 | ▲ 351% |
| Tangible fixed assets22/27 | €3,915 | €4,974 | €2,001 | €1,099 | €7,059 | ▲ 542% |
| Plant, machinery and equipment23 | - | €1,664 | €539 | - | €4,414 | - |
| Furniture and vehicles24 | - | €3,310 | €1,462 | €1,099 | €2,645 | ▲ 141% |
| Financial fixed assets28 | €600 | €600 | €600 | €600 | €600 | = |
| Current assets29/58 | €60,958 | €183,735 | €150,190 | €193,717 | €315,468 | ▲ 62.9% |
| Amounts receivable within one year40/41 | €16,900 | €119,037 | €129,606 | €183,592 | €305,343 | ▲ 66.3% |
| Trade receivables40 | - | €118,804 | €102,595 | €155,126 | €267,815 | ▲ 72.6% |
| Other amounts receivable41 | - | €233 | €27,011 | €28,466 | €37,529 | ▲ 31.8% |
| Cash at bank and in hand54/58 | €41,374 | €64,698 | €13,153 | €4,582 | €4,582 | = |
| Deferred charges and accrued income490/1 | - | - | €7,432 | €5,543 | €5,543 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €65,473 | €189,309 | €152,792 | €195,416 | €323,127 | ▲ 65.4% |
| Equity10/15 | -€144,301 | -€122,592 | -€121,113 | -€118,031 | -€110,597 | ▲ 6.3% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €124 | €124 | €124 | €124 | €124 | = |
| Non-distributable reserves130/1 | - | €124 | €124 | €124 | €124 | = |
| Reserves not available under the articles1311 | - | €124 | €124 | €124 | €124 | = |
| Profit (loss) carried forward14 | -€163,025 | -€141,316 | -€139,836 | -€136,754 | -€129,320 | ▲ 5.4% |
| Amounts payable17/49 | €209,773 | €311,901 | €273,904 | €313,446 | €433,724 | ▲ 38.4% |
| Amounts payable within one year42/48 | €195,273 | €301,077 | €259,404 | €298,946 | €419,224 | ▲ 40.2% |
| Financial debts43 | - | - | - | €21,102 | €21,102 | = |
| Credit institutions430/8 | - | - | - | €21,102 | €21,102 | = |
| Trade debts44 | €32,889 | €111,808 | €136,700 | €143,504 | €208,164 | ▲ 45.1% |
| Suppliers440/4 | - | €111,808 | €136,700 | €143,504 | €208,164 | ▲ 45.1% |
| Taxes, remuneration and social security45 | - | €29,222 | €1,691 | €1,691 | €57,309 | ▲ 3,289% |
| Taxes450/3 | - | €6,722 | €1,691 | €1,691 | €33,309 | ▲ 1,870% |
| Remuneration and social security454/9 | - | €22,500 | - | - | €24,000 | - |
| Other amounts payable47/48 | - | €160,048 | €121,013 | €132,649 | €132,649 | = |
| Accrued charges and deferred income492/3 | - | €10,824 | €14,500 | €14,500 | €14,500 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | - | -€4,892 | €1,480 | €3,082 | €7,434 | ▲ 141% |
| + Depreciation and write-downs630 | - | €2,973 | €2,973 | €2,035 | €1,285 | ▼ 36.8% |
| Operating cash flow (approximation) | - | -€1,919 | €4,453 | €5,116 | €8,719 | ▲ 70.4% |
| Investment in fixed assets (approximation) | - | -€4,033 | €0 | -€1,132 | -€7,245 | ▼ 540% |
| Change in cash | - | €23,324 | -€51,545 | -€8,571 | €0 | ▲ 100% |
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
2026
13-03
KBO administration
Address strikeout annulled
06-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 6 days late
06-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 371 days late
06-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 737 days late
2025
28-04
KBO administration
Address struck
2023
30-06
Financial
Back to profitnet €1,480
Net result €1,480 after one loss-making year.
28-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
30-06
Financial
Weakest financial yearnet -€4,892
Net result drops to -€4,892, the lowest in the series; recovery starts the following year.
27-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 27 days late
2020
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
23-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
18-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
30-01
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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, Mechelen · 1 establishment unit since 2004
Ground area
363 m²
Building footprint
184 m²
Volume, LiDAR
1,370 m³
Parcel 12404F0602/00A002, Flanders · tallest building 17.4 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
PRO FORMA
since 20042.143.902.611
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404F0602/00A002 | Flanders | 363 m² | 1 · 184 m² | 17.4 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 237 EUR awarded · 237 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 171 EUR | 237 EUR |
| 2024 | 1 | 66 EUR | 0 EUR |
Recognitions · licences · registrations
Dual-learning approval
5 endedInterieurbouwer (so)
Machinaal houtbewerker (so)
Meubelmaker (so)
Plaatser interieurelementen (so)
Productiemedewerker interieurbouw (so)
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,501 companies in sector 31004 we hold annual accounts for 626. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-11-2004
Fiscal year end30-06
Activities, NACEBEL 2025
31004Manufacture of dining room, living room, bedroom and bathroom furniture
27402Manufacture of electrical equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0870124345
Also
9925:BE0870124345
Registered
13-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.