F M D C
ActiveSummary
F M D C has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €160,012 and a net result of €303. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 58% of 2097 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+32
Solvency74▼-7
Growth35=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 2.25 in 2024; short-term debt: 51.4% and cash: 6.7% of total assets), but 51.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
48.6%
Return on assets
0.1%
Age of the figures
16 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-05-2025 was due by 31-12-2025 and was filed on 17-12-2025, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
12 d early
2023
12 d early
2022
1 d early
2021
14 d early
2020
1 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-05-2026 and is due by 31-12-2026. Nothing is late today. Usually files around 19 December (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-05-2026 close01-10-2026 today31-12-2026 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€1.2m▼ 23.6%
2021 · €1.5m
EBIT margin
0.6%▼ 0.2pp
2021 · 0.8%
Net result
€303▲ 45.8%
2024 · €208
Working capital
€159,625▲ 0.3%
2024 · €159,191
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.5m▼ 8.8%€1.2m▼ 23.6%
Operating result€11,802▼ 71.4%€6,765▼ 42.7%€5,477▼ 19.0%€4,640▼ 15.3%€19,613▲ 323%
Net result€7,213within the sector's middle half▼ 77.8%€1,559below the sector's middle half▼ 78.4%€95below the sector's middle half▼ 93.9%€208below the sector's middle half▲ 120%€303below the sector's middle half▲ 45.8%
EBIT margin0.8%▼ 1.7pp0.6%▼ 0.2pp
Equity€157,846within the sector's middle half▲ 4.8%€159,406within the sector's middle half▲ 1.0%€159,500within the sector's middle half▲ 0.1%€159,708within the sector's middle half▲ 0.1%€160,012within the sector's middle half▲ 0.2%
Total assets€298,335within the sector's middle half▼ 37.3%€327,100within the sector's middle half▲ 9.6%€354,588within the sector's middle half▲ 8.4%€286,641below the sector's middle half▼ 19.2%€329,111below the sector's middle half▲ 14.8%
Debt€140,489▼ 56.8%€167,694▲ 19.4%€195,088▲ 16.3%€126,933▼ 34.9%€169,099▲ 33.2%
Working capital€153,390within the sector's middle half▲ 4.6%€153,795within the sector's middle half▲ 0.3%€155,615within the sector's middle half▲ 1.2%€159,191within the sector's middle half▲ 2.3%€159,625within the sector's middle half▲ 0.3%
Solvency52.9%within the sector's middle half▲ 21.2pp48.7%within the sector's middle half▼ 4.2pp45.0%within the sector's middle half▼ 3.8pp55.7%within the sector's middle half▲ 10.7pp48.6%within the sector's middle half▼ 7.1pp
Current ratio2.14within the sector's middle half▲ 0.671.93within the sector's middle half▼ 0.211.80within the sector's middle half▼ 0.132.25within the sector's middle half▲ 0.461.94within the sector's middle half▼ 0.31
Return on assets (ROA)2.4%within the sector's middle half▼ 4.4pp0.5%below the sector's middle half▼ 1.9pp0.0%below the sector's middle half▼ 0.5pp0.1%below the sector's middle half=0.1%below the sector's middle half=
Staff (FTE)0.3below the sector's middle half1below the sector's middle half▲ 233%1below the sector's middle half=1below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 323% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €329,111
Fixed assets
€387 ▼ 25.1%
Current assets
€328,723 ▲ 14.9%
Equity and liabilities €329,111
Equity
€160,012 ▲ 0.2%
Debt
€169,099 ▲ 33.2%
Debt's share of the balance-sheet total rises from 44.3% to 51.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19,743▲
2024 · €8,008
Cash flow
€433▼
2024 · €3,576
Debt to equity
1.06▲
2024 · 0.79
ROE
0.2%▲
2024 · 0.1%
Interest coverage
8.60▲
2024 · 2.20
Debt ≤ 1 year
€169,099▲
2024 · €126,933
Income taxes
€520▲
2024 · €418
Staff costs
€52,830▲
2024 · €50,526
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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% | 1.0% |
| 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% 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 17,040 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.5m | €1.2m | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €1.1m | - | - | - | - |
| Remuneration, social security and pensions62 | - | €33,791 | €48,028 | €50,526 | €52,830 | ▲ 4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,249 | €3,368 | €3,368 | €3,368 | €130 | ▼ 96.1% |
| Other operating charges640/8 | - | €2,347 | €4,439 | €2,088 | €1,925 | ▼ 7.8% |
| Gross operating margin9900 | €18,250 | €46,271 | €61,312 | €60,623 | €74,498 | ▲ 22.9% |
| Operating profit (loss)9901 | €11,802 | €6,765 | €5,477 | €4,640 | €19,613 | ▲ 323% |
| Financial income75/76B | - | €1,494 | €1 | €16 | €383 | ▲ 2,347% |
| Recurring financial income75 | €341 | €0 | €1 | €16 | €383 | ▲ 2,347% |
| Non-recurring financial income76B | - | €1,494 | - | - | - | - |
| Financial charges65/66B | - | €5,737 | €4,245 | €4,030 | €19,173 | ▲ 376% |
| Recurring financial charges65 | €1,432 | €4,016 | €3,420 | €3,640 | €2,295 | ▼ 37.0% |
| Non-recurring financial charges66B | - | €1,721 | €825 | €389 | €16,878 | ▲ 4,236% |
| Profit (loss) for the period before taxes9903 | €9,961 | €2,523 | €1,233 | €626 | €823 | ▲ 31.4% |
| Income taxes67/77 | €2,748 | €963 | €1,139 | €418 | €520 | ▲ 24.3% |
| Profit (loss) for the period9904 | €7,213 | €1,559 | €95 | €208 | €303 | ▲ 45.8% |
| Profit (loss) for the period to be appropriated9905 | €7,213 | €1,559 | €95 | €208 | €303 | ▲ 45.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €298,335 | €327,100 | €354,588 | €286,641 | €329,111 | ▲ 14.8% |
| Fixed assets21/28 | €9,973 | €7,254 | €3,885 | €517 | €387 | ▼ 25.1% |
| Tangible fixed assets22/27 | €9,748 | €7,029 | €3,660 | €292 | €162 | ▼ 44.4% |
| Plant, machinery and equipment23 | - | €530 | €411 | €292 | €162 | ▼ 44.4% |
| Furniture and vehicles24 | - | €6,499 | €3,249 | €0 | - | - |
| Financial fixed assets28 | €225 | €225 | €225 | €225 | €225 | = |
| Current assets29/58 | €288,362 | €319,846 | €350,703 | €286,124 | €328,723 | ▲ 14.9% |
| Amounts receivable within one year40/41 | €255,856 | €294,417 | €326,375 | €277,815 | €298,880 | ▲ 7.6% |
| Trade receivables40 | - | €294,417 | €321,469 | €277,815 | €296,783 | ▲ 6.8% |
| Other amounts receivable41 | - | - | €4,905 | €0 | €2,097 | - |
| Cash at bank and in hand54/58 | €32,506 | €25,029 | €20,532 | €6,910 | €22,143 | ▲ 220% |
| Deferred charges and accrued income490/1 | - | €400 | €3,796 | €1,400 | €7,700 | ▲ 450% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €298,335 | €327,100 | €354,588 | €286,641 | €329,111 | ▲ 14.8% |
| Equity10/15 | €157,846 | €159,406 | €159,500 | €159,708 | €160,012 | ▲ 0.2% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €20,610 | €20,610 | €20,610 | €20,610 | €20,610 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Profit (loss) carried forward14 | €118,636 | €120,196 | €120,290 | €120,498 | €120,802 | ▲ 0.3% |
| Amounts payable17/49 | €140,489 | €167,694 | €195,088 | €126,933 | €169,099 | ▲ 33.2% |
| Amounts payable after more than one year17 | €5,517 | €1,643 | - | - | - | - |
| Financial debts170/4 | - | €1,643 | - | - | - | - |
| Amounts payable within one year42/48 | €134,972 | €166,051 | €195,088 | €126,933 | €169,099 | ▲ 33.2% |
| Current portion of amounts payable after more than one year42 | - | €3,874 | €1,643 | €0 | - | - |
| Financial debts43 | - | €15,000 | €50,000 | €5,000 | €40,000 | ▲ 700% |
| Credit institutions430/8 | - | €15,000 | €50,000 | €5,000 | €40,000 | ▲ 700% |
| Trade debts44 | €43,008 | €55,598 | €56,343 | €31,511 | €43,060 | ▲ 36.7% |
| Suppliers440/4 | - | €49,580 | €35,719 | €30,987 | €32,605 | ▲ 5.2% |
| Bills of exchange payable441 | - | €6,018 | €20,623 | €524 | €10,455 | ▲ 1,894% |
| Taxes, remuneration and social security45 | - | €10,629 | €4,978 | €7,546 | €5,769 | ▼ 23.5% |
| Taxes450/3 | - | €3,249 | €1,139 | €1,876 | €520 | ▼ 72.3% |
| Remuneration and social security454/9 | - | €7,380 | €3,840 | €5,669 | €5,250 | ▼ 7.4% |
| Other amounts payable47/48 | - | €80,951 | €82,124 | €82,876 | €80,269 | ▼ 3.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,213 | €1,559 | €95 | €208 | €303 | ▲ 45.8% |
| + Depreciation and write-downs630 | €3,249 | €3,368 | €3,368 | €3,368 | €130 | ▼ 96.1% |
| Operating cash flow (approximation) | €10,462 | €4,928 | €3,463 | €3,576 | €433 | ▼ 87.9% |
| Investment in fixed assets (approximation) | - | -€649 | €0 | €0 | €0 | - |
| Change in cash | - | -€7,477 | -€4,497 | -€13,623 | €15,234 | ▲ 212% |
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
2025
17-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
19-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
19-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-05
Financial
Weakest financial yearnet €95 ▼93.9%
Net result drops to €95, the lowest in the series; recovery starts the following year.
2022
30-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
30-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-05
Financial
Highest result since 2019net €32,435 ▲28.6%
Operating result €41,329, net result €32,435, both a record.
31-05
Financial
Equity above €150,000Eq €150,634 ▲27.4%
2 profitable years in a row build equity to €150,634.
2019
02-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
27-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
29-11
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 5 acts read
About the unread acts
We know of 5 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
No directors read yet: 0 of 5 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Anderlecht · 1 establishment unit since 2003
Ground area
258 m²
Building footprint
129 m²
Volume, LiDAR
1,409 m³
Parcel 21308H0478/00N002, Brussels · tallest building 16.8 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
FMDC
since 20032.135.955.044
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21308H0478/00N002 | Brussels | 258 m² | 1 · 129 m² | 16.8 m · 4 fl. |
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.
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Of 1,366 companies in this sector we hold annual accounts for 635. 502 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded22-12-2003
Fiscal year end31-05
Activities, NACEBEL 2025
43110Demolition
43230Insulation installation
43240Other construction installation
43320Joinery installation
43350Other building finishing work
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0862344252
Registered
09-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.