Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 18 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 2.9 to 1.7.
Financials
Financial year 2025
FINGAREN from Brussel, company number BE0464852011, closed financial year 2025 with a result of € 6.1 million after tax. For that financial year FINGAREN recorded revenue of € 0 and equity of € 104.3 million. Compared with financial year 2024, the result moved from € 7.4 million to € 6.1 million. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 13, 2026.
€ 104.3 million
▲ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 6.1 million
▼ 18% vs 2024
Profit after tax over the fiscal year.
€ 1.6 million
▲ 17% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1.6 million paid out
27 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
1.7
▼ 0.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 151,465
▼ 45% vs 2024
€ 89,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 448
▼ 37% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 31.7 million
▼ 8% vs 2024
€ 2.6 million is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 24,771
▼ 34% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 38 days on average.
€ 18,344
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € 3,600,041 | € 740,406 | € 7,418,500 | € 6,060,409 | ▼ 18% |
| Equity | € 93,721,815 | € 93,657,722 | € 99,869,472 | € 104,320,881 | ▲ 4% |
| Total debts | € 47,581,947 | € 46,867,173 | € 36,146,562 | € 33,192,331 | ▼ 8% |
| Cash | € 2,371,415 | € 871,653 | € 1,357,943 | € 1,583,525 | ▲ 17% |
| Retained profit | € 42,781,990 | € 42,717,897 | € 48,929,647 | € 53,381,056 | ▲ 9% |
| Dividend | € 804,485 | € 804,500 | € 1,206,750 | € 1,609,000 | ▲ 33% |
| Bank debt | € 45,405,962 | € 45,050,247 | € 34,518,520 | € 31,673,735 | ▼ 8% |
| Balance sheet total | € 141,303,762 | € 140,524,894 | € 136,016,034 | € 137,513,211 | ▲ 1% |
| Employees (FTE) | 2.9 | 2.9 | 2.5 | 1.7 | ▼ 0.8 |
Key figures of FINGAREN, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to FINGAREN?
What happened at FINGAREN in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 6.1 million (▼ 18% vs 2024). Source: NBB ↗
- Marie-Noël PAQUOT became a director. NBB
- Stéphanie PAQUOT became a director. NBB
- Valérie PAQUOT became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 3.6 million profit in 2022 to € 6.1 million profit in 2025.
Paid € 205,025 in corporate taxes since 2022.
Best year ever: 2024, with € 7.4 million profit.
Paid out € 4.4 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of BLACERCEL, 4Mine comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
FINGARENBehind FINGAREN are Marie-Noël PAQUOT, Stéphanie PAQUOT and Valérie PAQUOT. The shares are held by BLACERCEL (33.2%) and 4Mine (26.4%). It owns 99.7% of ENTREPRISES ET CHEMINS DE FER EN CHINE and 5.8% of CIE DU BOIS SAUVAGE itself.
Directors
According to the 2025 annual accounts
Marie-Noël PAQUOT
Director
Also active at: COMPAGNIE DU BOIS SAUVAGE, PARFINA, ANCHORAGE, Serendip, BLACERCELI, BLACERCEL
since 2024
Stéphanie PAQUOT
Director
Also active at: ENTREPRISES ET CHEMINS DE FER EN CHINE, ANCHORAGE, PAH Management, 4Mine
since 2024
since 2022
Participations
Establishments
Establishment units
Physical locations of this company
Wildewoudstraat 17
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →COMPAGNIE DU BOIS SAUVAGE same network
€ 234,387 revenue · 2025
ENTREPRISES ET CHEMINS DE FER EN CHINE same network
€ 53,238 revenue · 2025
Stichting Paul Delvaux - Fondation Paul Delvaux
Tanval
€ -58,710 gross margin · 2025
PARFINA same network
+1 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0464.852.011
- VAT number
- BE 0464.852.011
- Registered office
- Wildewoudstraat 17, 1000 Brussel
- Names & denominations
- FINGAREN
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 15 December 1998
- Peppol
- Active · Active since 6 Oct 2025
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Verhuur van woningen, exclusief sociale woningen
Activiteiten van holdings
Holdings