Result
-€132,972 -€132,972
From profit to loss in 2025, after a profit of €618,613 in 2024.
FAPI
Lifetime
18 annual accounts with figures on one time axis, 19 filings since 2006peak €616,733 (2024)
-€7,275▼ €624,009
lowest -€132,972 (2025)
-€132,972▼ €751,585
peak €458,474 (2024)
€325,502▼ 29.0%
€291,534▼ 6.4%
Board3 names since 2022
1 directorSALAMONE Anaël
Owners
Documentsfilings and deeds
26-01-20265 days before the deadline
2025micro format
Gross margin from €616,733 to -€7,275Loss of €132,972Equity from €458,474 to €325,502
Key points
from the 2025 annual accountsFilings
19 annual accounts since 2006
Four of the last ten came late. The 2022 accounts came latest: 480 days after the end of the period.
Position in the sector
-€132,972
Lower net result than 95% of companies in real estate. Sector median €5,995 · 17,190 companies.
Turnover not published (micro format)
Checked score
88
Excellent
Financially stronger than 43% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 4.3%
01-2025: 4.3%● unchanged vs 12-2024highest value
02-2025: 0.1%▼ -4.2 percentage points vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: < 0.1%▼ -0.1 percentage points vs 09-2025lowest value
11-2025: 0.1%▲ +0.1 percentage points vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.2%▲ +0.1 percentage points vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Loss of €132,972 (financial year 2025)
1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 2.16, cash €609,386
Size: total assets €617,036
Calculation
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 66% of them on solvency, 84% on liquidity, 4% on profitability and 17% on growth.
The bankruptcy probability was computed on 10-11-2026 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 30-06-2025.
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).
Comparable companies, two years later
In July 2024, 929 companies had the same profile as FAPI has now. Each dot stands for 3 companies, two years later.
90.1%
were still trading
8.8%
stopped another way
1.1%
went bankrupt
That fits the bankruptcy probability of FAPI itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,448 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 929 companies, not a prediction for FAPI. 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.
Credit verdict
Credit of up to €25,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.16 (2.53 in 2024), above the usual 1.5. Short-term debt is 45.8% and cash 98.8% of total assets. 47.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 26-01-2026, 5 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
5 days early
2024
3 days early
2023
124 days late
2022
480 days late
2021
30 days late
2020
8 days late
2019
28 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 87 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.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 2 March (4 of the last 5 accounts filed within 94 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end11-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0875134889
Registered office moved from Forest to Blegny
New registered office: Chemin de la Julienne, 22 à 4671 BLEGNY · Previous registered office: Avenue Van Volxem, 260 à 1190 FOREST · Reappointment: SALAMONE Anaël (sole director) · Gazette deed
1 director appointed, 2 resignations
Resignations: Giuseppino Salamone and Fabienne Smets · Appointment: Anael Salamone (managing director) · Director discharge: Giuseppino Salamone · General meeting of 29-12-2022 · Gazette deed
3 directors appointed
FINSA, Giuseppino SALAMONE (managing director) and Smets Fabienne · Permanent representative: Giuseppino SALAMONE · Director discharge: FINSA · General meeting of 2015-08 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FAPI Blegny | €617,036 | -€7,275 | 52.8% | - |
| O & FORMES Visé | €638,836 | -€11,527 | 44.4% | - |
| ROCHIMMO Rochefort | €684,196 | -€33,202 | 38.2% | - |
| ORMANDO IMMO Boussu | €677,076 | -€15,681 | -12.8% | - |
| AAA STONE INVEST Asse | €522,469 | -€41,192 | 6.7% | - |
| ABP CONSULT Ghent | €569,591 | -€3,044 | 22.3% | - |
| H.B.F. NV Koekelberg | €503,363 | -€5,190 | -9.7% | - |
These companies have the same main activity as FAPI: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €503,000 and €684,000, founded between 2001 and 2008.
Official details
Source: KBO- Status
- Active since 15-07-2005Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 3 others
- Financial year end
- 30 June
- Peppol
- Reachable since 25-03-2026
Annual accounts to 30-06-2025
- €617,036▼ 19.9%
- Filing
- Filed on 26-01-2026, 5 days before the end of the filing period
Insights on FAPI
FAPI files the micro format. That format states no turnover. The gross margin fell from €40,411 in 2007 to -€7,275 in 2025.
In March 2023, the Official Gazette published the appointment of SALAMONE Anaël as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FAPI
- What is the company number of FAPI?
- The company number of FAPI is 0875.134.889. The VAT number is the same number with BE in front: BE 0875.134.889.
- Where is FAPI based?
- The registered office is at Chemin de la Julienne 22, 4671 Blegny.Company details
- What does FAPI do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of FAPI?
- FAPI is a public limited company (NV).
- When was FAPI founded?
- FAPI was founded on 15-07-2005.
- Is FAPI still active?
- Yes, FAPI is an active enterprise in the KBO register.
- What is the turnover of FAPI?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is FAPI profitable?
- In financial year 2025, FAPI made a loss of €132,972.
- Where can I find the annual accounts of FAPI?
- FAPI filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FAPI due?
- FAPI must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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