FEDAL
ActiveSummary
FEDAL has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €30.33M and a net result of €653k. Equity is growing by ~9.3% per year across the filed fiscal years. Its solvency ranks better than 91% of 435 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▼-29
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 5.42 against 6.65 in 2024; short-term debt: 10% and cash: 0.4% of total assets), and 10.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Education (NACE 85)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
89.9%
Return on assets
1.9%
Age of the figures
15 mo
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
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-02-2026, 27 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
27 d late
2024
6 d late
2024
45 d early
2023
27 d early
2022
19 d early
2021
18 d early
2020
33 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€653k▼ 97.9%
2024 · €30.75M
2019: €68k
2020: €114k▲ +66.7% vs 2019
2021: €-18k▼ -116% vs 2020
2022: €350k▲ +2025% vs 2021
2023: €-33k▼ -109% vs 2022lowest value
2024: €92k▲ +378% vs 2023
2024: €30.75Mhighest value
2025: €653k▼ -97.9% vs 2024
2019 → 2025
Working capital
€14.98M▼ 2.9%
2024 · €15.43M
2019: €-4.35M
2020: €-4.78M▼ -10.0% vs 2019
2021: €-5.02M▼ -5.0% vs 2020
2022: €-5.07M▼ -1.0% vs 2021
2023: €-5.96M▼ -17.4% vs 2022
2024: €-6.05M▼ -1.6% vs 2023lowest value
2024: €15.43Mhighest value
2025: €14.98M▼ -2.9% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420242025Trend
Equity€-1.13M-€-1.16M▼ 2.9%€-1.07M▲ 7.9%€29.68M€30.33M▲ 2.2%
2022: €-1.13M
2023: €-1.16M▼ -2.9% vs 2022lowest value
2024: €-1.07M▲ +7.9% vs 2023
2024: €29.68M
2025: €30.33M▲ +2.2% vs 2024highest value
Operating result€-89k-€-75k▲ 15.8%€-71k▲ 5.5%€-19k▲ 73.1%€-76k▼ 295%
2022: €-89klowest value
2023: €-75k▲ +15.8% vs 2022
2024: €-71k▲ +5.5% vs 2023
2024: €-19khighest value
2025: €-76k▼ -295% vs 2024
Net result€350k-€-33k€92k€30.75M▲ 33,474%€653k▼ 97.9%
2022: €350k
2023: €-33k▼ -109% vs 2022lowest value
2024: €92k▲ +378% vs 2023
2024: €30.75Mhighest value
2025: €653k▼ -97.9% vs 2024
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33.72M
Fixed assets
€15.35M ▲ 7.7%
Current assets
€18.37M ▲ 1.2%
Equity and liabilities €33.72M
Equity
€30.33M ▲ 2.2%
Debt
€3.39M ▲ 24.3%
Debt's share of the balance-sheet total rises from 8.4% to 10.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€-69k▼
2024 · €-18k
Cash flow
€660k▼
2024 · €30.75M
Current ratio
5.42▼
2024 · 6.65
Debt to equity
0.11▲
2024 · 0.09
ROE
2.2%▼
2024 · 103.6%
ROA
1.9%▼
2024 · 94.9%
Interest coverage
-0.35▲
2024 · -529.96
Debt ≤ 1 year
€3.39M▲
2024 · €2.73M
Income taxes
€153k▼
2024 · €2.40M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€32.41M€33.72M▲
Fixed assets21/28€14.25M€15.35M▲
Tangible fixed assets22/27€8k€70k▲
Furniture and vehicles24€8k€70k▲
Financial fixed assets28€14.24M€15.29M▲
Current assets29/58€18.16M€18.37M▲
Amounts receivable after more than one year29-€3.00M
Trade receivables290-€3.00M
Current investments50/53€17.85M€15.04M▼
Cash at bank and in hand54/58€274k€147k▼
Deferred charges and accrued income490/1€37k€184k▲
Equity and liabilities
Total equity and liabilities10/49€32.41M€33.72M▲
Equity10/15€29.68M€30.33M▲
Contributions10/11€62k€62k▼
Capital10€62k€62k▼
Issued capital100€62k€62k▼
Reserves13€24.01M€24.01M=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€24.00M€24.00M=
Profit (loss) carried forward14€5.61M€6.26M▲
Amounts payable17/49€2.73M€3.39M▲
Amounts payable within one year42/48€2.73M€3.39M▲
Financial debts43-€173k
Credit institutions430/8-€173k
Trade debts44€31k€1k▼
Suppliers440/4€31k€1k▼
Taxes, remuneration and social security45€2.41M€116k▼
Taxes450/3€2.41M€116k▼
Other amounts payable47/48€288k€3.10M▲
Accrued charges and deferred income492/3-€6k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€796€7k▲
Other operating charges640/8€371€19k▲
Gross operating margin9900€-18k€-50k▼
Operating profit (loss)9901€-19k€-76k▼
Financial income75/76B€33.16M€1.08M▼
Recurring financial income75€33.16M€1.08M▼
Financial charges65/66B€35€199k▲
Recurring financial charges65€35€199k▲
Profit (loss) for the period before taxes9903€33.15M€806k▼
Income taxes67/77€2.40M€153k▼
Profit (loss) for the period9904€30.75M€653k▼
Profit (loss) for the period to be appropriated9905€30.75M€653k▼
Appropriation of the result
Profit (loss) to be appropriated9906€29.61M€6.26M▼
Profit (loss) brought forward from the previous period14P€-1.14M€5.61M▲
Transfer to equity691/2€24.00M-
To other reserves6921€24.00M-
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €10k | €11k | €796 | €7k | ▲ 747% |
| Other operating charges640/8 | €24k | €4k | €1k | €371 | €19k | ▲ 5,053% |
| Gross operating margin9900 | €-54k | €-61k | €-59k | €-18k | €-50k | ▼ 176% |
| Operating profit (loss)9901 | €-89k | €-75k | €-71k | €-19k | €-76k | ▼ 295% |
| Financial income75/76B | €440k | €304k | €163k | €33.16M | €1.08M | ▼ 96.7% |
| Recurring financial income75 | €440k | €304k | €163k | €33.16M | €1.08M | ▼ 96.7% |
| Financial charges65/66B | €368 | €261k | €129 | €35 | €199k | ▲ 574,225% |
| Recurring financial charges65 | €368 | €261k | €129 | €35 | €199k | ▲ 574,225% |
| Profit (loss) for the period before taxes9903 | €351k | €-32k | €92k | €33.15M | €806k | ▼ 97.6% |
| Income taxes67/77 | €605 | €591 | €560 | €2.40M | €153k | ▼ 93.6% |
| Profit (loss) for the period9904 | €350k | €-33k | €92k | €30.75M | €653k | ▼ 97.9% |
| Profit (loss) for the period to be appropriated9905 | €350k | €-33k | €92k | €30.75M | €653k | ▼ 97.9% |
| Line | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.95M | €4.84M | €4.99M | €32.41M | €33.72M | ▲ 4.1% |
| Fixed assets21/28 | €3.95M | €4.80M | €4.99M | €14.25M | €15.35M | ▲ 7.7% |
| Tangible fixed assets22/27 | €22k | €11k | €5k | €8k | €70k | ▲ 815% |
| Furniture and vehicles24 | €22k | €11k | €5k | €8k | €70k | ▲ 815% |
| Financial fixed assets28 | €3.92M | €4.79M | €4.98M | €14.24M | €15.29M | ▲ 7.3% |
| Current assets29/58 | €9k | €40k | €9k | €18.16M | €18.37M | ▲ 1.2% |
| Amounts receivable after more than one year29 | - | - | - | - | €3.00M | - |
| Trade receivables290 | - | - | - | - | €3.00M | - |
| Current investments50/53 | - | - | - | €17.85M | €15.04M | ▼ 15.7% |
| Cash at bank and in hand54/58 | €8k | €38k | €7k | €274k | €147k | ▼ 46.4% |
| Deferred charges and accrued income490/1 | €2k | €2k | €2k | €37k | €184k | ▲ 401% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.95M | €4.84M | €4.99M | €32.41M | €33.72M | ▲ 4.1% |
| Equity10/15 | €-1.13M | €-1.16M | €-1.07M | €29.68M | €30.33M | ▲ 2.2% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | ▼ 0.1% |
| Capital10 | €62k | €62k | €62k | €62k | €62k | ▼ 0.1% |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | ▼ 0.1% |
| Reserves13 | €6k | €6k | €6k | €24.01M | €24.01M | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | - | - | €24.00M | €24.00M | = |
| Profit (loss) carried forward14 | €-1.19M | €-1.23M | €-1.14M | €5.61M | €6.26M | ▲ 11.6% |
| Amounts payable17/49 | €5.08M | €6.00M | €6.06M | €2.73M | €3.39M | ▲ 24.3% |
| Amounts payable within one year42/48 | €5.08M | €6.00M | €6.06M | €2.73M | €3.39M | ▲ 24.1% |
| Financial debts43 | - | - | - | - | €173k | - |
| Credit institutions430/8 | - | - | - | - | €173k | - |
| Trade debts44 | €3k | €3k | €4k | €31k | €1k | ▼ 96.6% |
| Suppliers440/4 | €3k | €3k | €4k | €31k | €1k | ▼ 96.6% |
| Taxes, remuneration and social security45 | €605 | €591 | €560 | €2.41M | €116k | ▼ 95.2% |
| Taxes450/3 | €605 | €591 | €560 | €2.41M | €116k | ▼ 95.2% |
| Other amounts payable47/48 | €5.08M | €5.99M | €6.06M | €288k | €3.10M | ▲ 975% |
| Accrued charges and deferred income492/3 | - | - | - | - | €6k | - |
| Line | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €350k | €-33k | €92k | €30.75M | €653k | ▼ 97.9% |
| + Depreciation and write-downs630 | €11k | €10k | €11k | €796 | €7k | ▲ 747% |
| Operating cash flow (approximation) | €361k | €-23k | €102k | €30.75M | €660k | ▼ 97.9% |
| Investment in fixed assets (approximation) | - | €-861k | €-200k | - | €-1.11M | - |
| Change in cash | - | €30k | €-31k | - | €-127k | - |
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
27-02
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 27 days late
2025
06-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 6 days late
2024
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
30-06
Financial
Highest result since 2019net €30.75M ▲33,474%
Operating result €-19k, net result €30.75M, both a record.
30-06
Financial
Liquidity times 4435current ratio 6.65
Current ratio from 0.00 to 6.65; short-term debt falls from €6.06M to €2.73M.
30-06
Financial
Equity above €25MEq €29.68M
2 profitable years in a row build equity to €29.68M.
31-03
Financial
Back to profitnet €92k
Net result €92k after one loss-making year.
2023
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Weakest financial yearnet €-33k
Net result drops to €-33k, the lowest in the series; recovery starts the following year.
2022
12-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Back to profitnet €350k
Net result €350k after one loss-making year.
2021
13-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
Show earlier events
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
13-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 13 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Elsene · 1 establishment unit since 2005
Ground area
475 m²
Building footprint
116 m²
Volume, LiDAR
1,549 m³
Parcel 21443C0190/00P011, Brussels · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
FEDAL
since 20052.145.898.930
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21443C0190/00P011 | Brussels | 475 m² | 1 · 116 m² | 19.5 m · 5 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.
Recognitions · licences · registrations
Legal Entity Identifier
875500W2ODLY13VGSR69
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Of 11,670 companies in sector 85599 we hold annual accounts for 1,330. 25 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded16-12-2004
Fiscal year end30-06
Activities, NACEBEL 2025
85599Other education
Scores and ratios are computed by Checked and are not a credit decision.