Age3 yrs
Real estate1 parcel · 16.2 ha
Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of FHIRST is 1.8% (moderate). The 2024 annual accounts show equity of €110k and a net result of €-452k. Its solvency ranks better than 43% of 148 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 1 annual account.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone1.8%
Moderate
0%0,5%1,5%4%10%≥25%
Young company
+Annual accounts: weaker financial profile
+Lower-failure-rate sector
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Filing behaviour
From the deposit records, complete market-wideFiled after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-08-2025, 12 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.
How we compute the deadline
There is a single filed set of accounts, closing on 31-12. That date is certain, but one observation does not establish the rhythm (a first financial year may run longer than twelve months), so we project no following year. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2024 | 31-07-2025 | 12-08-2025 | 12 d late | 2025-00371326 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsMore than 3 years active
Founded in 2023, 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 administrative flags
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-452k
Working capital€684k
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 12-08-2025 with the NBB · fiscal year 2024 · micro
Sector comparison
Fiscal year 2024 · NACE 11 · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 11.0% | 20.5% | |
| Net result | €-452k | €-3k | |
| Equity | €110k | €7k | |
| Gross operating margin | €-319k | €1k | |
| Total assets | €998k | €75k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
| Fiscal year | 2024 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €-374k |
| Net profit | €-452k |
| Cash flow | €-412k |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €998k |
| Equity | €110k |
| Debt | €888k |
| of which ≤ 1y | €158k |
| of which > 1y | €730k |
| Working capital | €684k |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 5.32 |
| Quick ratio | 5.23 |
| Working capital ratio | 68.5% |
| Solvency | 11.0% |
| Debt / equity | 8.09 |
| Long-term debt ratio | 6.65 |
| Interest coverage | -9.58 |
| Gross margin | - |
| Net margin | - |
| ROA | -45.3% |
| ROE | -411.5% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €998k |
| Fixed assets | 21/28 | €155k |
| Formation expenses | 20 | €1k |
| Intangible fixed assets | 21 | €155k |
| Financial fixed assets | 28 | €500 |
| Current assets | 29/58 | €842k |
| Stocks & contracts in progress | 3 | €15k |
| Amounts receivable within one year | 40/41 | €106k |
| Cash & bank | 54/58 | €188k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €998k |
| Equity | 10/15 | €110k |
| Contributions / capital | 10/11 | €562k |
| Accumulated profits (losses) | 14 | €-452k |
| Amounts payable | 17/49 | €888k |
| Amounts payable after one year | 17 | €730k |
| Amounts payable within one year | 42/48 | €158k |
| Trade debts payable within one year | 44 | €158k |
| Income statement | ||
| Gross operating margin | 9900 | €-319k |
| Operating result | 9901 | €-414k |
| Financial income | 75 | €948 |
| Financial charges | 65 | €39k |
| Result before taxes | 9903 | €-452k |
| Net result for the period | 9904 | €-452k |
| Result to be appropriated | 9905 | €-452k |
Ratios computed by Checked.
Health barometer
FY 2024 · computed35
/ 100
Weak
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
1 directorFormer directors (1)
-
Sémaj BVLegal entityDirector· perm. rep.: Elke JanssensState Gazette act 24154035 (25-10-2024)Former- → 20-09-2024
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Vervaardiging van frisdranken en water in flessen(11070) |
| Legal form | Private limited company(610) |
| Incorporation | 28-06-2023 |
| Status | Active |
| Postal code | 9052 |
Structure & network
Locations & real estate
Establishment units
1 locationFHIRST
since 20232.347.739.302
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area16.2 ha
Buildings1
Building footprint8.2 ha
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44082B0391/00B002 | Flanders | 16.2 ha | 1 · 8.2 ha | - |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
1 acts All acts · 1
updated 1 year ago
2024
25-10-2024 Elke Janssens resigns as director
- Elke Janssens, Bestuurder
Analysis
Snowflake analysis
financial profile on 5 axes39
/ 100
Fragile profile, watch profitability in particular.
Computed on 4 of 5 axes. Not measured: growth. An unmeasured axis is not a zero: no data was read for it.
Health
35
Profitability
0
Solvency
41
Growth
-
Stability
79
Ask AI about this company
Checked AISoon: ask questions about this dossier, risks, curator, sector comparison, answered from the official data on this page.
TryWhat are the main risks?Any recent red flags?Compare to sector peers
Coming soonAI due-diligence brief
Checked AIGenerate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
Coming soon
The brief is drafted by our AI model at Anthropic in the US, from this dossier's public data. Nothing that identifies you is sent along and we do not keep the brief. Indicative, not legal or investment advice. How it works
Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Vervaardiging van frisdranken; productie van mineraalwater en ander gebotteld water11070Vervaardiging van frisdranken en water in flessen11070Groothandel in dranken, algemeen assortiment46349Groothandel in dranken, algemeen assortiment46349Groothandel in andere voedingsmiddelen, n.e.g.46389Groothandel in andere voedingsmiddelen, neg46389
Primary activity highlighted.
Names & trade names
| Legal nameNL | FHIRST |
Registered office
Nederzwijnaarde 2 bus 7
9052 Gent, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.