Checked.be
Active
BE 0419.293.188Private limited company
FENDOORS
Avenue de Heppignies(H) 30-32 ·6220 Fleurus, Belgium· 47 yrs active
Sector: Specialised construction activities
(43342)
Conclusion
FENDOORS has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.50M and a net result of €1.66M. Equity is growing by ~45.4% per year across the filed fiscal years. Its solvency ranks better than 57% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €7.50M |
| Net result | €1.66M |
| Staff (FTE) | 38.1 |
| Better than sector | 57% |
Financial profile
95
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
100
Solvency
96
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1979, 47 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€750k
estimate, not credit advice
Score history
78
2022
94
2023
100
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.29 (≥ 1.5)
+10
Quick ratio
Quick ratio 2.09 (≥ 1.0)
+5
Leverage
Debt/equity 0.94 (< 1.0)
+10
Profitability
ROE 22% (≥ 10%)
+10
Interest coverage
Interest coverage 10.3× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 26-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~45.4%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 49.9% | 44.0% | |
| Net result | €1.66M | €30k | |
| Equity | €7.50M | €276k | |
| Gross operating margin | €5.11M | €275k | |
| Staff costs | €1.83M | €244k |
€3.08M
+74.0%
22-25
€1.66M
+114.3%
22-25
€2.53M
+75.4%
22-25
€15.03M
+25.8%
22-25
€7.50M
+26.6%
22-25
€2.39M
+36.2%
22-25
38
+26.2%
22-25
€1.83M
+27.0%
22-25
€507k
+80.9%
22-25
€90k
-
22-25
€7.04M
+25.4%
22-25
€1.85M
-1.5%
22-25
€4.19M
+48.7%
22-25
2.29
+18.5%
22-25
2.09
+19.6%
22-25
49.9%
+0.6%
22-25
0.94
-1.0%
22-25
22.1%
+69.3%
22-25
11.0%
+70.3%
22-25
10.26
+40.5%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | €3.08M | €1.77M | €1.16M | €791k |
| Net profit | €1.66M | €772k | €517k | €336k |
| Cash flow | €2.53M | €1.44M | €946k | €724k |
| Staff costs | €1.83M | €1.44M | €1.25M | €1.13M |
| Income taxes | €507k | €280k | €151k | €56k |
| Dividends | - | €90k | - | - |
| Total assets | €15.03M | €11.95M | €6.67M | €6.56M |
| Equity | €7.50M | €5.93M | €2.45M | €2.00M |
| Debt | €7.04M | €5.61M | €4.11M | €4.56M |
| of which ≤ 1y | €1.85M | €1.88M | €1.17M | €1.50M |
| of which > 1y | €4.19M | €2.82M | €2.24M | €2.31M |
| Working capital | €2.39M | €1.75M | €1.21M | €595k |
| Employees (FTE) | 38.1 | 30.2 | 28.0 | 28.0 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 2.29 | 1.93 | 2.04 | 1.40 |
| Quick ratio | 2.09 | 1.74 | 1.73 | 1.03 |
| Working capital ratio | 15.9% | 14.7% | 18.2% | 9.1% |
| Solvency | 49.9% | 49.6% | 36.7% | 30.5% |
| Debt / equity | 0.94 | 0.95 | 1.68 | 2.28 |
| Long-term debt ratio | 0.56 | 0.48 | 0.92 | 1.15 |
| Interest coverage | 10.26 | 7.30 | 5.40 | 5.33 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 11.0% | 6.5% | 7.8% | 5.1% |
| ROE | 22.1% | 13.0% | 21.2% | 16.8% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (28 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €15.03M | €11.95M | €6.67M | €6.56M |
| Fixed assets | 21/28 | €10.80M | €8.32M | €4.28M | €4.47M |
| Intangible fixed assets | 21 | €389k | €584k | €778k | €778k |
| Tangible fixed assets | 22/27 | €10.40M | €7.73M | €3.50M | €3.68M |
| Financial fixed assets | 28 | €6k | €6k | €6k | €3k |
| Current assets | 29/58 | €4.24M | €3.63M | €2.38M | €2.09M |
| Stocks & contracts in progress | 3 | €373k | €351k | €359k | €550k |
| Amounts receivable within one year | 40/41 | €992k | €575k | €610k | €923k |
| Investments | 50/53 | - | - | - | €2k |
| Cash & bank | 54/58 | €1.33M | €1.66M | €704k | €603k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €15.03M | €11.95M | €6.67M | €6.56M |
| Equity | 10/15 | €7.50M | €5.93M | €2.45M | €2.00M |
| Contributions / capital | 10/11 | €236k | €236k | €236k | €236k |
| Reserves | 13 | €1.03M | €526k | €116k | €116k |
| Accumulated profits (losses) | 14 | €2.85M | €1.69M | €1.42M | €901k |
| Provisions & deferred taxes | 16 | €492k | €410k | €111k | - |
| Amounts payable | 17/49 | €7.04M | €5.61M | €4.11M | €4.56M |
| Amounts payable after one year | 17 | €4.19M | €2.82M | €2.24M | €2.31M |
| Amounts payable within one year | 42/48 | €1.85M | €1.88M | €1.17M | €1.50M |
| Trade debts payable within one year | 44 | €93k | €707k | €341k | €444k |
| Income statement | |||||
| Gross operating margin | 9900 | €5.11M | €3.66M | €2.81M | €2.09M |
| Operating result | 9901 | €2.21M | €1.10M | €734k | €403k |
| Financial income | 75 | €256k | €194k | €164k | €180k |
| Financial charges | 65 | €301k | €243k | €215k | €148k |
| Result before taxes | 9903 | €2.16M | €1.05M | €668k | €392k |
| Income taxes | 67/77 | €507k | €280k | €151k | €56k |
| Net result for the period | 9904 | €1.66M | €772k | €517k | €336k |
| Result to be appropriated | 9905 | €1.66M | €772k | €517k | €336k |
Legal Structure
| NACE primary | Specialised construction activities(43342) |
| Legal form | Private limited company(610) |
| Incorporation | 23-03-1979 |
| Status | Active |
| Postal code | 6220 |
Establishment units
DECORENO GROUP
since 19792.038.777.870
FENDOORS
since 20182.274.717.603
Real-estate footprint
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52032B0094/00F000 | Wallonia | 9,178 m² | 1 · 2,974 m² | - |
| 23644H0067/00F000 | Flanders | 2,280 m² | 1 · 1,325 m² | 8.2 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2022net €1.66M ▲114%
Operating result €2.21M, net result €1.66M, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 26 days late
2024
31-12
Financial
Equity above €5MEq €5.93M ▲142%
3 profitable years in a row build equity to €5.93M.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 22 days late
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
18-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 49 days late
2018
08-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 69 days late
2017
02-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 94 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Joinery installation43320Specialised construction activities4334245441
Names & trade names
| Legal nameFR | FENDOORS |
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