F.E.S.C.
ActiveSummary
F.E.S.C. has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €137,473 and a net result of €5,606. Equity is growing by about 24% per year across the filed financial years. Its solvency ranks better than 93% of 13,668 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €137,473
- Profit
- €5,606
Why 97raises riskSize: total assets €148,365lowers riskLiquidity: current ratio 13.47, cash €56,110Founded in 2002Equity €137,473 (92.7% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro): better than 90% on solvency, 94% on liquidity, 60% on profitability and 53% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 19 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 71% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 17,041 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94.4% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,041 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,977 | €1,827 | €1,815 | €2,924 | €963 | €971 | €739 | €1,221 | ▲ 65.2% |
| Other operating charges640/8 | - | - | - | €957 | €2,108 | €1,278 | €1,177 | €1,354 | ▲ 15.0% |
| Gross operating margin9900 | €10,453 | €2,795 | €26,956 | €19,379 | €39,080 | €42,800 | €35,097 | €12,065 | ▼ 65.6% |
| Operating profit (loss)9901 | €6,767 | €50 | €24,356 | €15,498 | €36,009 | €40,551 | €33,181 | €9,490 | ▼ 71.4% |
| Financial income75/76B | - | - | - | - | - | €8 | €705 | €788 | ▲ 11.8% |
| Recurring financial income75 | €1 | - | - | - | - | €8 | €705 | €788 | ▲ 11.8% |
| Financial charges65/66B | - | - | - | €45 | €56 | €1,161 | €805 | €93 | ▼ 88.4% |
| Recurring financial charges65 | €47 | €29 | €55 | €45 | €56 | €1,161 | €805 | €93 | ▼ 88.4% |
| Profit (loss) for the period before taxes9903 | €6,721 | €21 | €24,301 | €15,453 | €35,953 | €39,398 | €33,081 | €10,185 | ▼ 69.2% |
| Income taxes67/77 | €2,142 | €1,310 | €8,063 | €5,926 | €10,778 | €14,725 | €10,660 | €4,579 | ▼ 57.0% |
| Profit (loss) for the period9904 | €4,579 | -€1,289 | €16,238 | €9,527 | €25,175 | €24,673 | €22,421 | €5,606 | ▼ 75.0% |
| Profit (loss) for the period to be appropriated9905 | €4,579 | -€1,289 | €16,238 | €9,527 | €25,175 | €24,673 | €22,421 | €5,606 | ▼ 75.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €45,634 | €48,042 | €65,879 | €73,900 | €106,718 | €123,439 | €143,739 | €148,365 | ▲ 3.2% |
| Fixed assets21/28 | €2,411 | €1,843 | €1,228 | €1,220 | €2,093 | €1,121 | €2,819 | €1,598 | ▼ 43.3% |
| Tangible fixed assets22/27 | €2,411 | €1,843 | €1,228 | €1,220 | €2,093 | €1,121 | €2,819 | €1,598 | ▼ 43.3% |
| Furniture and vehicles24 | - | - | - | €1,220 | €2,093 | €1,121 | €2,819 | €1,598 | ▼ 43.3% |
| Current assets29/58 | €43,223 | €46,199 | €64,651 | €72,680 | €104,625 | €122,318 | €140,920 | €146,767 | ▲ 4.1% |
| Amounts receivable within one year40/41 | €9,053 | €10,960 | €12,309 | €10,344 | €14,090 | €14,747 | €12,116 | €5,657 | ▼ 53.3% |
| Trade receivables40 | - | - | - | €10,330 | €14,089 | €14,747 | €12,116 | - | - |
| Other amounts receivable41 | - | - | - | €14 | €1 | - | - | €5,657 | - |
| Current investments50/53 | - | - | - | - | - | - | €80,000 | €85,000 | ▲ 6.3% |
| Cash at bank and in hand54/58 | €33,251 | €32,323 | €49,282 | €59,251 | €87,195 | €104,394 | €47,415 | €56,110 | ▲ 18.3% |
| Deferred charges and accrued income490/1 | - | - | - | €3,085 | €3,340 | €3,177 | €1,389 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €45,634 | €48,042 | €65,879 | €73,900 | €106,718 | €123,439 | €143,739 | €148,365 | ▲ 3.2% |
| Equity10/15 | €37,522 | €35,433 | €50,871 | €59,598 | €84,773 | €109,446 | €131,867 | €137,473 | ▲ 4.3% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,418 | €1,418 | €16,856 | €25,583 | €50,758 | €75,431 | €97,852 | €103,458 | ▲ 5.7% |
| Non-distributable reserves130/1 | - | - | - | €1,418 | €1,418 | €1,418 | €1,418 | €1,418 | = |
| Reserves not available under the articles1311 | - | - | - | €1,418 | €1,418 | €1,418 | €1,418 | €1,418 | = |
| Distributable reserves133 | - | - | - | €24,165 | €49,340 | €74,013 | €96,434 | €102,040 | ▲ 5.8% |
| Profit (loss) carried forward14 | €29,904 | €27,815 | €27,815 | €27,815 | €27,815 | €27,815 | €27,815 | €27,815 | = |
| Amounts payable17/49 | €8,112 | €12,609 | €15,008 | €14,302 | €21,945 | €13,993 | €11,872 | €10,892 | ▼ 8.3% |
| Amounts payable within one year42/48 | €8,112 | €12,609 | €15,008 | €14,302 | €21,945 | €13,993 | €11,870 | €10,892 | ▼ 8.2% |
| Trade debts44 | €457 | €1,492 | €395 | €580 | €2,443 | €1,463 | €1,438 | - | - |
| Suppliers440/4 | - | - | - | €580 | €2,443 | €1,463 | €1,438 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €5,138 | €11,663 | €7,823 | €4,601 | €6,453 | ▲ 40.3% |
| Taxes450/3 | - | - | - | €5,138 | €10,663 | €7,823 | €4,601 | €4,161 | ▼ 9.6% |
| Remuneration and social security454/9 | - | - | - | - | €1,000 | - | - | €2,292 | - |
| Other amounts payable47/48 | - | - | - | €8,584 | €7,839 | €4,707 | €5,831 | €4,439 | ▼ 23.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €2 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,579 | -€1,289 | €16,238 | €9,527 | €25,175 | €24,673 | €22,421 | €5,606 | ▼ 75.0% |
| + Depreciation and write-downs630 | €1,977 | €1,827 | €1,815 | €2,924 | €963 | €971 | €739 | €1,221 | ▲ 65.2% |
| Operating cash flow (approximation) | €6,556 | €538 | €18,053 | €12,451 | €26,138 | €25,644 | €23,160 | €6,827 | ▼ 70.5% |
| Investment in fixed assets (approximation) | - | -€1,259 | -€1,200 | -€2,916 | -€1,836 | €1 | -€2,437 | €0 | - |
| Change in cash | - | -€928 | €16,959 | €9,969 | €27,944 | €17,199 | -€56,979 | €8,695 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 19-06-2026 | 2026-00184543 |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00220859 |
| 31-12-2023 | micro format | 22-07-2024 | 2024-00292120 |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00272379 |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20125688 |
| 31-12-2020 | micro format | 28-07-2021 | 2021-44100540 |
| 31-12-2019 | micro format | 23-07-2020 | 2020-34000299 |
| 31-12-2018 | micro format | 19-06-2019 | 2019-21100474 |
| 31-12-2017 | micro format | 24-07-2018 | 2018-39300386 |
| 31-12-2016 | full format | 23-06-2017 | 2017-21400579 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Capital and shareholders
- 09-02-2024 Converted to unavailable equity
- 09-02-2024 Converted to uncalled contributions
Group and network
Connections & network
No directors read yet: 1 of 2 Gazette acts processed.
History
Acts, filings and financial milestones
09-02
Gazette deed
Registered office · Legal-form change · Resignations & appointmentsCapital conversion · Reserve release · Registered office clause7 facts ▸
- General meeting, 10-11-2023
- Capital conversion, “compte de capitaux propres statutairement indisponibles” (deed in French)
- Other provision, “administrateur” (deed in French)
- Capital conversion, “compte de capitaux propres apports non appelés” (deed in French)
- Reserve release, “suppression, rendre disponibles moyens pour distribution” (deed in French)
- Registered office clause, “rue du Chaufour 10apt à 1390 Grez-Doiceau” (deed in French)
- Amendment of the articles
Show earlier events
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25037A0298/00X000 | Wallonia | 33 m² | 1 · 68 m² | 7.7 m · 1 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L'activité d'intermédiaire commercial; Accomplir toutes opérations commerciales, industrielles, financières, immobilières ou mobilières se…” (deed in French)
3 activities (deed in French)
- L'activité d'intermédiaire commercial
- Accomplir toutes opérations commerciales, industrielles, financières, immobilières ou mobilières se rapportant directement ou indirectement à son objet social ou qui seraient de nature à en faciliter, directement ou indirectement ou partiellement la réalisation
- S'intéresser par toutes voies, dans toutes affaires, entreprises ou sociétés ayant un objet identique, analogue ou connexe ou qui soit de nature à faciliter le développement de son entreprise ou son extension
- Name clauseThe name the company operates under according to its articles.
- F.E.S.C.
- Legal form clauseThe legal form, such as BV, NV or CV, which decides which company-law rules apply.
- One provision in the deed
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, organe d’administration peut déplacer siège en Belgique pour autant que déplacement n’impose pas modification langue…” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “S’ils sont plusieurs, chaque administrateur agissant seul, peut accomplir tous les actes d'administration et de disposi-tion qui…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, un ou plusieurs” (deed in French)“Désigné et confirmé termine mandat prédécesseur, en cas vacance par décès démission ou autre cause et pour autant qu’administrateurs…” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, titulaires peuvent prendre connaissance registre relatif à leurs titres” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Monday of May at 14:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “État résumant situation active et passive arrêté à date ne remontant pas à plus de trois mois, commissaire ou à défaut réviseur…” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Réparti également entre toutes les actions, actif net après apurement dettes charges frais ou consignation sert d'abord à rembourser montant…” (deed in French)