Checked.be
Active
BE 0664.806.722Private limited company
FET'INCELLES !
Warloche(B) 15 ·7911 Frasnes-lez-Anvaing, Belgium· 9 yrs active
Sector: Other retail sale of new goods
(47789)
Conclusion
FET'INCELLES ! has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €95k and a net result of €5k. Equity is growing by ~13.6% per year across the filed fiscal years. Its solvency ranks better than 43% of 17366 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €95k |
| Net result | €5k |
| Better than sector | 43% |
| Active | 9 yrs |
Financial profile
53
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
46
Profitability
27
Solvency
38
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2016, past the statistically most fragile first 3 years.
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
46
/ 100
Fair
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
€5k
estimate, not credit advice
Score history
63
2021
58
2022
66
2023
36
2024
46
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.94 (< 1.0)
-10
Quick ratio
Quick ratio 0.47 (< 0.6)
-5
Profitability
ROE 5%
+3
Interest coverage
Interest coverage 8.3× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
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 24-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~13.6%/year over 5 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 47, Retail trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 26.1% | 34.6% | |
| Net result | €5k | €5k | |
| Equity | €95k | €44k | |
| Gross operating margin | €45k | €34k | |
| Total assets | €364k | €154k |
€43k
+10.9%
21-25
€5k
-18.4%
21-25
€35k
+15.3%
21-25
€364k
-1.0%
21-25
€95k
+5.7%
21-25
€-7k
+67.0%
21-25
€3k
-14.5%
21-25
€269k
-3.2%
21-25
€105k
+3.2%
21-25
€163k
-7.5%
21-25
0.94
+16.5%
21-25
0.47
+34.6%
21-25
26.1%
+6.8%
21-25
2.83
-8.4%
21-25
5.4%
-22.8%
21-25
1.4%
-17.6%
21-25
8.35
+7.3%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €43k | €39k | €45k | €31k | €28k |
| Net profit | €5k | €6k | €18k | €12k | €14k |
| Cash flow | €35k | €30k | €30k | €20k | €21k |
| Staff costs | - | - | - | - | - |
| Income taxes | €3k | €4k | €10k | €6k | €1k |
| Dividends | - | - | - | - | - |
| Total assets | €364k | €368k | €353k | €303k | €286k |
| Equity | €95k | €90k | €84k | €65k | €53k |
| Debt | €269k | €278k | €269k | €238k | €233k |
| of which ≤ 1y | €105k | €102k | €101k | €60k | €46k |
| of which > 1y | €163k | €176k | €167k | €177k | €187k |
| Working capital | €-7k | €-20k | €2k | €28k | €23k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.94 | 0.80 | 1.02 | 1.46 | 1.49 |
| Quick ratio | 0.47 | 0.35 | 0.45 | 0.48 | 0.70 |
| Working capital ratio | -1.8% | -5.4% | 0.6% | 9.1% | 7.9% |
| Solvency | 26.1% | 24.4% | 23.7% | 21.6% | 18.5% |
| Debt / equity | 2.83 | 3.10 | 3.22 | 3.64 | 4.40 |
| Long-term debt ratio | 1.71 | 1.96 | 2.00 | 2.71 | 3.53 |
| Interest coverage | 8.35 | 7.78 | 9.05 | 5.81 | 5.10 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 1.4% | 1.7% | 5.2% | 4.1% | 5.0% |
| ROE | 5.4% | 7.0% | 21.9% | 18.9% | 27.0% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €364k | €368k | €353k | €303k | €286k |
| Fixed assets | 21/28 | €266k | €286k | €249k | €215k | €217k |
| Tangible fixed assets | 22/27 | €266k | €286k | €249k | €215k | €217k |
| Current assets | 29/58 | €98k | €82k | €104k | €88k | €69k |
| Stocks & contracts in progress | 3 | €49k | €46k | €58k | €59k | €37k |
| Amounts receivable within one year | 40/41 | €35k | €24k | €33k | €13k | €14k |
| Cash & bank | 54/58 | €12k | €10k | €11k | €14k | €17k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €364k | €368k | €353k | €303k | €286k |
| Equity | 10/15 | €95k | €90k | €84k | €65k | €53k |
| Contributions / capital | 10/11 | €6k | €6k | €6k | €6k | €6k |
| Reserves | 13 | €57k | €52k | €46k | €28k | €16k |
| Accumulated profits (losses) | 14 | €31k | €31k | €31k | €31k | €31k |
| Amounts payable | 17/49 | €269k | €278k | €269k | €238k | €233k |
| Amounts payable after one year | 17 | €163k | €176k | €167k | €177k | €187k |
| Amounts payable within one year | 42/48 | €105k | €102k | €101k | €60k | €46k |
| Trade debts payable within one year | 44 | €14k | €10k | €32k | €15k | €4k |
| Income statement | ||||||
| Gross operating margin | 9900 | €45k | €40k | €46k | €33k | €28k |
| Operating result | 9901 | €14k | €15k | €33k | €23k | €21k |
| Financial income | 75 | €0 | - | €428 | - | €102 |
| Financial charges | 65 | €5k | €5k | €5k | €5k | €5k |
| Result before taxes | 9903 | €8k | €10k | €28k | €18k | €16k |
| Income taxes | 67/77 | €3k | €4k | €10k | €6k | €1k |
| Net result for the period | 9904 | €5k | €6k | €18k | €12k | €14k |
| Result to be appropriated | 9905 | €5k | €6k | €18k | €12k | €14k |
Legal Structure
| NACE primary | Other retail sale of new goods(47789) |
| Legal form | Private limited company(610) |
| Incorporation | 20-10-2016 |
| Status | Active |
| Postal code | 7911 |
Establishment units
FET'INCELLES !
since 20162.258.128.623
FET'INCELLES
since 20172.273.629.322
Real-estate footprint
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51013B0311/00H000 | Wallonia | 1,964 m² | 1 · 295 m² | 7.3 m · 2 fl. |
| 57078A0743/00A003 | Wallonia | 377 m² | 1 · 75 m² | 10.2 m · 3 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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Weakest financial yearnet €5k ▼18.4%
Net result drops to €5k, the lowest in the series.
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2021net €18k ▲48.3%
Operating result €33k, net result €18k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
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
Other retail sale of new goods47789Wholesale trade46120Other amusement and recreation activities93299
Names & trade names
| Legal nameFR | FET'INCELLES ! |
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