A. Fiducia

Active

Private limited companyfounded 201610 yrs activeTulpenplein 15, 1070 Anderlecht, BelgiumKBO/BCE: BE 0660.914.448

A. Fiducia has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €350k and a net result of €-298k. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 17% of 3220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

40 / 100

Weak▲ +8 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0=

Solvency26▼-11

Growth52=

Stability100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €14k at 30 days only on tighter terms

Liquidity tight (current ratio 1.41 against 1.72 in 2024), and 91.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 69

Relative position

BE, all sectors

reference

Sector 69

lower

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

1819202122232425

2018 to 2025 · latest year -€298k

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 3220 sector peers (2025).

NBB · sector comparison

Position among 3220 sector peers

Solvency

better than 17%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-09-2026, 33 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 · 9 filings

Deviation from the deadline

2025

33 d late

2024

23 d early

2023

65 d late

2022

71 d late

2021

78 d late

2020

78 d late

2019

33 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

09-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-298k▼ 22.2%

2024 · €-244k

2018: €64k 2019: €173k 2020: €220k 2021: €59k 2022: €-23k 2023: €-15k 2024: €-244k

2018 → 2025

Working capital

€389k▼ 39.6%

2024 · €644k

2018: €205k 2019: €513k 2020: €551k 2021: €545k 2022: €550k 2023: €29k 2024: €644k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€788k-€741k▼ 6.0%€709k▼ 4.3%€689k▼ 2.8%€350k▼ 49.2%

Operating result€87k-€-16k€-11k▲ 33.8%€-107k▼ 902%€-158k▼ 47.6%

Net result€59k-€-23k€-15k▲ 31.2%€-244k▼ 1,473%€-298k▼ 22.2%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €158k in 2025 against €107k in 2024; the loss grows and 2025 is the lowest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €3.97M

66.0%

34.0%

Fixed assets €2.62M▼ 19.2%

Current assets €1.35M▼ 12.0%

Equity and liabilities €3.97M

91.2%

Equity €350k▼ 49.2%

Debt €3.62M▼ 11.4%

The debt ratio rises from 85.6% to 91.2%: equity shrinks faster than debt is paid down.

Key figures and ratios

2025 value · change against 2024

EBITDA

€253k▲

2024 · €-38k

Cash flow

€113k▲

2024 · €-174k

Solvency

8.8%▼

2024 · 14.4%

Current ratio

1.41▼

2024 · 1.72

Quick ratio

1.41▼

2024 · 1.72

Debt / equity

10.35▲

2024 · 5.93

ROE

-85.1%▼

2024 · -35.4%

ROA

-7.5%▼

2024 · -5.1%

Interest coverage

1.61▲

2024 · -0.24

Debt

€3.62M▼

2024 · €4.09M

Debt ≤ 1 year

€960k▲

2024 · €889k

Debt > 1 year

€2.65M▼

2024 · €3.06M

Income taxes

€2k▲

2024 · €930

Staff costs

€1.19M▲

2024 · €751k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€4.78M€3.97M▼

Fixed assets21/28€3.24M€2.62M▼

Intangible fixed assets21-€2.02M

Tangible fixed assets22/27€614k€565k▼

Land and buildings22€596k€433k▼

Plant, machinery and equipment23-€103k

Furniture and vehicles24€18k€28k▲

Financial fixed assets28€2.63M€42k▼

Current assets29/58€1.53M€1.35M▼

Amounts receivable within one year40/41€696k€541k▼

Trade receivables40€447k€506k▲

Other amounts receivable41€249k€35k▼

Cash at bank and in hand54/58€810k€735k▼

Deferred charges and accrued income490/1€27k€72k▲

Equity and liabilities

Total equity and liabilities10/49€4.78M€3.97M▼

Equity10/15€689k€350k▼

Contributions10/11€18k€18k=

Reserves13€21k€21k=

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Tax-exempt reserves132€19k€19k=

Profit (loss) carried forward14€505k€182k▼

Investment grants15€145k€129k▼

Amounts payable17/49€4.09M€3.62M▼

Amounts payable after more than one year17€3.06M€2.65M▼

Financial debts170/4€450k€420k▼

Other amounts payable178/9€2.61M€2.23M▼

Amounts payable within one year42/48€889k€960k▲

Current portion of amounts payable after more than one year42€33k€33k▼

Trade debts44€368k€389k▲

Suppliers440/4€368k€389k▲

Taxes, remuneration and social security45€245k€261k▲

Taxes450/3€149k€95k▼

Remuneration and social security454/9€96k€165k▲

Other amounts payable47/48€242k€277k▲

Accrued charges and deferred income492/3€143k€9k▼

Income statement Code20242025

Non-recurring operating income76A-€8k

Remuneration, social security and pensions62€751k€1.19M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€69k€410k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€17k€72k▲

Other operating charges640/8€10k€14k▲

Gross operating margin9900€740k€1.53M▲

Operating profit (loss)9901€-107k€-158k▼

Financial income75/76B€263k€19k▼

Recurring financial income75€263k€19k▼

Financial charges65/66B€158k€157k▼

Recurring financial charges65€158k€157k▼

Profit (loss) for the period before taxes9903€-243k€-296k▼

Income taxes67/77€930€2k▲

Profit (loss) for the period9904€-244k€-298k▼

Profit (loss) for the period to be appropriated9905€-244k€-298k▼

Appropriation of the result

Profit (loss) to be appropriated9906€505k€182k▼

Profit (loss) brought forward from the previous period14P€509k€480k▼

Social balance

Average headcount (FTE)908714.022.8▲

The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 3Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

02-09

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 33 days late

31-07

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment9 facts ▸

General meeting, 26/06/2026
Director resignation, Ayed Hassan (administrateur)
Director appointment, HI Management SRL (administrateur)
Director appointment, SD Tax Consulting SRL (administrateur)
Director appointment, Fiscal Pax SRL (administrateur)
Director appointment, Arleo Partners SRL (administrateur)
Director appointment, Esperen SRL (administrateur)
Director appointment, Ekifin SRL (administrateur)
Director appointment, HI Management SRL (administrateur délégué)

2025

31-12

Financial Weakest financial yearnet €-298k

Net result drops to €-298k, the lowest in the series.

19-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

08-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

04-10

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 65 days late

2023

10-10

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 71 days late

2022

17-10

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 78 days late

2021

17-10

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 78 days late

2020

31-12

Financial Highest result since 2018net €220k ▲27.7%

Operating result €271k, net result €220k, both a record.

02-09

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 33 days late

2019

31-12

Financial Equity above €500kEq €541k ▲282%

2 profitable years in a row build equity to €541k.

25-11

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 117 days late

2018

09-10

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 70 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 9 acts read

About the unread acts

Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

8 directors, last change in 2026

VASSILIEFF, Maud Alexandra

Administrateur non statutaire · since 30-07-2026

Current

Arleo partners

Director · since 01-07-2026 · Private limited company

Current

Ekifin

Director · since 01-07-2026 · Private limited company

Current

ESPEREN

Director · since 01-07-2026 · Private limited company

Current

Fiscal Pax

Director · since 01-07-2026 · Private limited company

Current

HI MANAGEMENT

Director · since 01-07-2026 · Private limited company (pre-2019)

Current

+ 1 not shown in this overview

30-07-2026 VASSILIEFF, Maud Alexandra: Appointed as Administrateur non statutaire

01-07-2026 Arleo partners: Appointed as Director

01-07-2026 Ekifin: Appointed as Director

01-07-2026 ESPEREN: Appointed as Director

01-07-2026 Fiscal Pax: Appointed as Director

01-07-2026 HI MANAGEMENT: Appointed as Director

01-07-2026 HI MANAGEMENT: Appointed as Managing director

01-07-2026 SD Tax Consulting: Appointed as Director

01-07-2026 Ayed Hassan: Resigned as Director

Not every act has been read: a resignation may be missing here

8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Anderlecht · 3 establishment units since 2016

approximate (street level) On OpenStreetMap

Ground area

4.7 ha

Building footprint

2,370 m²

Volume, LiDAR

49,480 m³

3 parcels, Brussels, Wallonia · tallest building 29.1 m, ±9 floors. Linked by address, not a title deed.

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3 parcels

Wallonia 1 (33.3%) Brussels 2 (66.7%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21307F0207/00E000	Brussels	3.5 ha	-	-
25763M0621/00F000indicative	Wallonia	1.0 ha	1 · 1,772 m²	22.9 m · 6 fl.
21019A0206/00H005	Brussels	1,291 m²	1 · 597 m²	29.1 m · 9 fl.