F-GEST
ActiveSummary
F-GEST has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €392,587 and a net result of -€58,598. Equity is growing by ~20.2% per year across the filed fiscal years. Its solvency ranks better than 22% of 3200 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▼-25
Solvency44▼-16
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity short (current ratio 0.72 against 0.81 in 2024; short-term debt: 9.8% and cash: 1.9% of total assets), and 80.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
19.5%
Return on assets
-2.9%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 3200 sector peers (2025).
NBB · sector comparisonPosition among 3200 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 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.
NBB · 10 filingsDeviation from the deadline
2025
2 d late
2024
7 d early
2023
1 d late
2022
on the day
2021
on the day
2020
3 d early
2019
60 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€58,598
2024 · €30,691
Working capital
-€55,004▼ 132%
2024 · -€23,689
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€119,775▲ 49.6%€62,972▼ 47.4%-€19,461€73,760€20,751▼ 71.9%
Net result€328,256▲ 661%€85,444▼ 74.0%-€65,923€30,691-€58,598
Equity€427,773▲ 173%€488,217▲ 14.1%€422,294▼ 13.5%€451,185▲ 6.8%€392,587▼ 13.0%
Total assets€608,018▲ 33.9%€663,036▲ 9.0%€1.1m▲ 72.9%€1.3m▲ 13.1%€2.0m▲ 55.5%
Debt€180,245▼ 39.4%€174,819▼ 3.0%€724,377▲ 314%€845,948▲ 16.8%€1.6m▲ 92.0%
Working capital-€51,202▲ 62.5%€2,040-€16,385-€23,689▼ 44.6%-€55,004▼ 132%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 72% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€1.9m ▲ 56.9%
Current assets
€142,313 ▲ 38.8%
Equity and liabilities €2.0m
Equity
€392,587 ▼ 13.0%
Debt
€1.6m ▲ 92.0%
Debt's share of the balance-sheet total rises from 65.2% to 80.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€67,715▼
2024 · €115,716
Cash flow
-€11,635▼
2024 · €72,647
Current ratio
0.72▼
2024 · 0.81
Debt to equity
4.14▲
2024 · 1.87
ROE
-14.9%▼
2024 · 6.8%
ROA
-2.9%▼
2024 · 2.4%
Interest coverage
0.72▼
2024 · 2.89
Debt ≤ 1 year
€197,317▲
2024 · €126,230
Debt > 1 year
€1.4m▲
2024 · €713,902
Income taxes
€491▼
2024 · €13,022
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,639 | €12,570 | €34,674 | €41,956 | €46,963 | ▲ 11.9% |
| Other operating charges640/8 | - | €1,154 | €3,227 | €2,645 | €2,561 | ▼ 3.2% |
| Non-recurring operating charges66A | - | - | €72,658 | - | - | - |
| Gross operating margin9900 | €136,357 | €76,696 | €91,098 | €118,361 | €70,276 | ▼ 40.6% |
| Operating profit (loss)9901 | €119,775 | €62,972 | -€19,461 | €73,760 | €20,751 | ▼ 71.9% |
| Financial income75/76B | - | €70,000 | - | €10,000 | €15,003 | ▲ 50.0% |
| Recurring financial income75 | €300,000 | €70,000 | - | €10,000 | €15,003 | ▲ 50.0% |
| Financial charges65/66B | - | €28,125 | €40,397 | €40,048 | €93,861 | ▲ 134% |
| Recurring financial charges65 | €36,195 | €28,125 | €40,397 | €40,048 | €93,861 | ▲ 134% |
| Profit (loss) for the period before taxes9903 | €383,581 | €104,847 | -€59,858 | €43,713 | -€58,107 | ▼ 233% |
| Income taxes67/77 | €55,324 | €19,404 | €6,065 | €13,022 | €491 | ▼ 96.2% |
| Profit (loss) for the period9904 | €328,256 | €85,444 | -€65,923 | €30,691 | -€58,598 | ▼ 291% |
| Profit (loss) for the period to be appropriated9905 | €328,256 | €85,444 | -€65,923 | €30,691 | -€58,598 | ▼ 291% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €608,018 | €663,036 | €1.1m | €1.3m | €2.0m | ▲ 55.5% |
| Fixed assets21/28 | €504,343 | €503,145 | €1.0m | €1.2m | €1.9m | ▲ 56.9% |
| Tangible fixed assets22/27 | €44,269 | €43,071 | €691,332 | €878,330 | €1.6m | ▲ 77.4% |
| Land and buildings22 | - | - | €659,456 | €859,279 | €1.5m | ▲ 74.5% |
| Plant, machinery and equipment23 | - | - | - | - | €34,946 | - |
| Furniture and vehicles24 | - | €23,360 | €11,890 | €1,294 | €8,639 | ▲ 568% |
| Other tangible fixed assets26 | - | €19,711 | €19,986 | €17,757 | €15,529 | ▼ 12.5% |
| Financial fixed assets28 | €460,074 | €460,074 | €316,261 | €316,261 | €316,261 | = |
| Current assets29/58 | €103,675 | €159,891 | €139,078 | €102,541 | €142,313 | ▲ 38.8% |
| Amounts receivable within one year40/41 | - | €50,000 | €40,409 | €63,657 | €104,604 | ▲ 64.3% |
| Trade receivables40 | - | €10,000 | €10,000 | €11,000 | €15,750 | ▲ 43.2% |
| Other amounts receivable41 | - | €40,000 | €30,409 | €52,657 | €88,854 | ▲ 68.7% |
| Cash at bank and in hand54/58 | €103,675 | €109,891 | €98,668 | €38,884 | €37,709 | ▼ 3.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €608,018 | €663,036 | €1.1m | €1.3m | €2.0m | ▲ 55.5% |
| Equity10/15 | €427,773 | €488,217 | €422,294 | €451,185 | €392,587 | ▼ 13.0% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €357,300 | €417,300 | €417,300 | €432,500 | €432,500 | = |
| Non-distributable reserves130/1 | - | €2,500 | €2,500 | - | - | - |
| Reserves not available under the articles1311 | - | €2,500 | €2,500 | - | - | - |
| Distributable reserves133 | - | €414,800 | €414,800 | €432,500 | €432,500 | = |
| Profit (loss) carried forward14 | €51,873 | €52,317 | -€13,606 | €85 | -€58,513 | ▼ 68,906% |
| Amounts payable17/49 | €180,245 | €174,819 | €724,377 | €845,948 | €1.6m | ▲ 92.0% |
| Amounts payable after more than one year17 | €25,368 | €16,969 | €567,096 | €713,902 | €1.4m | ▲ 99.3% |
| Financial debts170/4 | - | €16,969 | €567,096 | €713,902 | €1.4m | ▲ 99.3% |
| Amounts payable within one year42/48 | €154,877 | €157,851 | €155,463 | €126,230 | €197,317 | ▲ 56.3% |
| Current portion of amounts payable after more than one year42 | - | €8,400 | €21,353 | €21,901 | €47,641 | ▲ 118% |
| Financial debts43 | - | €4,922 | €1,372 | €849 | €1,667 | ▲ 96.4% |
| Credit institutions430/8 | - | €4,922 | €1,372 | €849 | €1,667 | ▲ 96.4% |
| Trade debts44 | €468 | €1,068 | €11,464 | €10,755 | €127,962 | ▲ 1,090% |
| Suppliers440/4 | - | €1,068 | €11,464 | €10,755 | €127,962 | ▲ 1,090% |
| Taxes, remuneration and social security45 | - | €6,654 | €9,179 | €8,196 | €2,250 | ▼ 72.5% |
| Taxes450/3 | - | €6,654 | €9,179 | €8,196 | €2,250 | ▼ 72.5% |
| Other amounts payable47/48 | - | €136,808 | €112,096 | €84,529 | €17,797 | ▼ 78.9% |
| Accrued charges and deferred income492/3 | - | - | €1,818 | €5,816 | €4,570 | ▼ 21.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €328,256 | €85,444 | -€65,923 | €30,691 | -€58,598 | ▼ 291% |
| + Depreciation and write-downs630 | €13,639 | €12,570 | €34,674 | €41,956 | €46,963 | ▲ 11.9% |
| Operating cash flow (approximation) | €341,895 | €98,013 | -€31,249 | €72,647 | -€11,635 | ▼ 116% |
| Investment in fixed assets (approximation) | - | -€11,372 | -€539,122 | -€228,954 | -€727,116 | ▼ 218% |
| Change in cash | - | €6,216 | -€11,223 | -€59,785 | -€1,174 | ▲ 98.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 2 days late
2025
24-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-06
Financial
Back to profitnet €30,691
Net result €30,691 after one loss-making year.
01-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 1 day late
2023
30-06
Financial
Weakest financial yearnet -€65,923
Net result drops to -€65,923, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Highest result since 2019net €328,256 ▲661%
Operating result €119,775, net result €328,256, both a record.
30-06
Financial
Equity above €200,000Eq €427,773 ▲173%
3 profitable years in a row build equity to €427,773.
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Equity above €150,000Eq €156,516 ▲24.9%
2 profitable years in a row build equity to €156,516.
2019
02-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2018
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
17-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Fléron · 1 establishment unit since 2013
Ground area
1,056 m²
Building footprint
124 m²
Parcel 62089A0115/00N000, Wallonia. Linked by address, not a title deed.
1 establishment unit
F-GEST
since 20132.222.369.671
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62089A0115/00N000 | Wallonia | 1,056 m² | 1 · 124 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
54930060CY5VWXTMXL04
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 36,501 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-09-2013
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.