F.M.R.
ActiveSummary
The annual accounts of F.M.R. for fiscal year 2025 show a net loss of 53% of the equity at the start of that year. The 2025 annual accounts show equity of €104k and a net result of €-118k. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 26% of 31791 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability1▼-20
Solvency49▼-17
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.26 against 0.05 in 2024; short-term debt: 57% and cash: 6.2% of total assets), and 75.6% of the assets are financed with debt.
Credit check for your own amount and term
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
24.4%
Return on assets
-27.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-118k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
17 d early
2023
71 d late
2022
25 d early
2021
30 d late
2020
25 d late
2019
36 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€104k▼ 53.2%
2024 · €222k
2018: €49k
2019: €45k▼ -8.4% vs 2018lowest in 8 years
2020: €74k▲ +64.3% vs 2019
2021: €77k▲ +4.0% vs 2020
2022: €92k▲ +19.1% vs 2021
2023: €246k▲ +167% vs 2022highest in 8 years
2024: €222k▼ -9.6% vs 2023
2025: €104k▼ -53.2% vs 2024
2018 → 2025
Total assets
€427k▼ 20.6%
2024 · €538k
2018: €137k
2019: €129k▼ -5.2% vs 2018lowest in 8 years
2020: €413k▲ +219% vs 2019
2021: €398k▼ -3.7% vs 2020
2022: €404k▲ +1.5% vs 2021
2023: €504k▲ +24.8% vs 2022
2024: €538k▲ +6.9% vs 2023highest in 8 years
2025: €427k▼ -20.6% vs 2024
2018 → 2025
Net result
€-118k▼ 631%
2024 · €-16k
2018: €-1k
2019: €-4k▼ -306% vs 2018
2020: €17k▲ +504% vs 2019highest in 8 years
2021: €15k▼ -8.3% vs 2020
2022: €15k▼ -3.7% vs 2021
2023: €13k▼ -9.5% vs 2022
2024: €-16k▼ -221% vs 2023
2025: €-118k▼ -631% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-180k▲ 6.9%
2024 · €-193k
2018: €-9khighest in 8 years
2019: €-11k▼ -24.3% vs 2018
2020: €-79k▼ -626% vs 2019
2021: €-99k▼ -24.3% vs 2020
2022: €-109k▼ -10.7% vs 2021
2023: €-109k▼ -0.1% vs 2022
2024: €-193k▼ -76.6% vs 2023lowest in 8 years
2025: €-180k▲ +6.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€77k-€92k▲ 19.1%€246k▲ 167%€222k▼ 9.6%€104k▼ 53.2%
2021: €77klowest in 5 years
2022: €92k▲ +19.1% vs 2021
2023: €246k▲ +167% vs 2022highest in 5 years
2024: €222k▼ -9.6% vs 2023
2025: €104k▼ -53.2% vs 2024
Operating result€32k-€28k▼ 11.4%€26k▼ 7.2%€-2k€-293▲ 86.9%
2021: €32khighest in 5 years
2022: €28k▼ -11.4% vs 2021
2023: €26k▼ -7.2% vs 2022
2024: €-2k▼ -109% vs 2023lowest in 5 years
2025: €-293▲ +86.9% vs 2024
Net result€15k-€15k▼ 3.7%€13k▼ 9.5%€-16k€-118k▼ 631%
2021: €15khighest in 5 years
2022: €15k▼ -3.7% vs 2021
2023: €13k▼ -9.5% vs 2022
2024: €-16k▼ -221% vs 2023
2025: €-118k▼ -631% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €293 in 2025 against €2k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €427k
Fixed assets
€363k ▼ 31.3%
Current assets
€64k ▲ 533%
Equity and liabilities €427k
Equity
€104k ▼ 53.2%
Debt
€323k ▲ 2.3%
Debt's share of the balance-sheet total rises from 58.7% to 75.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€14k▲
2024 · €10k
Cash flow
€-104k▼
2024 · €-4k
Current ratio
0.26▲
2024 · 0.05
Debt to equity
3.10▲
2024 · 1.42
ROE
-113.6%▼
2024 · -7.3%
ROA
-27.7%▼
2024 · -3.0%
Interest coverage
0.12▼
2024 · 0.73
Debt ≤ 1 year
€244k▲
2024 · €203k
Debt > 1 year
€76k▼
2024 · €110k
Income taxes
€176▼
2024 · €181
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€538k€427k▼
Fixed assets21/28€528k€363k▼
Tangible fixed assets22/27€259k€246k▼
Land and buildings22€258k€244k▼
Furniture and vehicles24€1k€3k▲
Financial fixed assets28€270k€117k▼
Current assets29/58€10k€64k▲
Amounts receivable within one year40/41€5k€38k▲
Trade receivables40€5k€37k▲
Other amounts receivable41€0€733▲
Cash at bank and in hand54/58€5k€26k▲
Deferred charges and accrued income490/1€111€28▼
Equity and liabilities
Total equity and liabilities10/49€538k€427k▼
Equity10/15€222k€104k▼
Contributions10/11€6k€6k=
Revaluation surpluses12€133k€133k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€81k€-37k▼
Amounts payable17/49€316k€323k▲
Amounts payable after more than one year17€110k€76k▼
Financial debts170/4€110k€76k▼
Amounts payable within one year42/48€203k€244k▲
Current portion of amounts payable after more than one year42€33k€34k▲
Trade debts44€2k€32k▲
Suppliers440/4€2k€32k▲
Taxes, remuneration and social security45€10k€3k▼
Taxes450/3€10k€3k▼
Other amounts payable47/48€158k€175k▲
Accrued charges and deferred income492/3€3k€3k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€14k▲
Other operating charges640/8€4k€3k▼
Gross operating margin9900€14k€17k▲
Operating profit (loss)9901€-2k€-293▲
Financial income75/76B€3€19▲
Recurring financial income75€3€19▲
Financial charges65/66B€14k€118k▲
Recurring financial charges65€14k€118k▲
Profit (loss) for the period before taxes9903€-16k€-118k▼
Income taxes67/77€181€176▼
Profit (loss) for the period9904€-16k€-118k▼
Profit (loss) for the period to be appropriated9905€-16k€-118k▼
Appropriation of the result
Profit (loss) to be appropriated9906€81k€-37k▼
Profit (loss) brought forward from the previous period14P€98k€81k▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €8k | €12k | €14k | ▲ 16.1% |
| Other operating charges640/8 | €306 | €1k | €932 | €4k | €3k | ▼ 17.2% |
| Gross operating margin9900 | €39k | €36k | €35k | €14k | €17k | ▲ 24.2% |
| Operating profit (loss)9901 | €32k | €28k | €26k | €-2k | €-293 | ▲ 86.9% |
| Financial income75/76B | €0 | - | - | €3 | €19 | ▲ 604% |
| Recurring financial income75 | €0 | - | - | €3 | €19 | ▲ 604% |
| Financial charges65/66B | €8k | €8k | €7k | €14k | €118k | ▲ 756% |
| Recurring financial charges65 | €8k | €8k | €7k | €14k | €118k | ▲ 756% |
| Profit (loss) for the period before taxes9903 | €24k | €20k | €19k | €-16k | €-118k | ▼ 638% |
| Income taxes67/77 | €8k | €5k | €6k | €181 | €176 | ▼ 2.8% |
| Profit (loss) for the period9904 | €15k | €15k | €13k | €-16k | €-118k | ▼ 631% |
| Profit (loss) for the period to be appropriated9905 | €15k | €15k | €13k | €-16k | €-118k | ▼ 631% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €398k | €404k | €504k | €538k | €427k | ▼ 20.6% |
| Fixed assets21/28 | €389k | €382k | €501k | €528k | €363k | ▼ 31.3% |
| Tangible fixed assets22/27 | €119k | €113k | €232k | €259k | €246k | ▼ 4.8% |
| Land and buildings22 | €118k | €112k | €232k | €258k | €244k | ▼ 5.4% |
| Furniture and vehicles24 | €1k | €591 | €0 | €1k | €3k | ▲ 130% |
| Financial fixed assets28 | €270k | €270k | €270k | €270k | €117k | ▼ 56.7% |
| Current assets29/58 | €9k | €22k | €3k | €10k | €64k | ▲ 533% |
| Amounts receivable within one year40/41 | - | €16k | €231 | €5k | €38k | ▲ 694% |
| Trade receivables40 | - | €16k | €0 | €5k | €37k | ▲ 678% |
| Other amounts receivable41 | - | €231 | €231 | €0 | €733 | - |
| Cash at bank and in hand54/58 | €9k | €5k | €2k | €5k | €26k | ▲ 401% |
| Deferred charges and accrued income490/1 | €176 | €222 | €257 | €111 | €28 | ▼ 74.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €398k | €404k | €504k | €538k | €427k | ▼ 20.6% |
| Equity10/15 | €77k | €92k | €246k | €222k | €104k | ▼ 53.2% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Revaluation surpluses12 | - | - | €140k | €133k | €133k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €69k | €84k | €98k | €81k | €-37k | ▼ 145% |
| Amounts payable17/49 | €320k | €312k | €258k | €316k | €323k | ▲ 2.3% |
| Amounts payable after more than one year17 | €207k | €175k | €143k | €110k | €76k | ▼ 30.6% |
| Financial debts170/4 | €207k | €175k | €143k | €110k | €76k | ▼ 30.6% |
| Amounts payable within one year42/48 | €108k | €131k | €112k | €203k | €244k | ▲ 20.1% |
| Current portion of amounts payable after more than one year42 | €31k | €32k | €32k | €33k | €34k | ▲ 2.0% |
| Trade debts44 | €530 | €7k | €9k | €2k | €32k | ▲ 1,353% |
| Suppliers440/4 | €530 | €7k | €9k | €2k | €32k | ▲ 1,353% |
| Taxes, remuneration and social security45 | €9k | €6k | €12k | €10k | €3k | ▼ 68.2% |
| Taxes450/3 | €9k | €6k | €12k | €10k | €3k | ▼ 68.2% |
| Other amounts payable47/48 | €67k | €86k | €59k | €158k | €175k | ▲ 10.6% |
| Accrued charges and deferred income492/3 | €6k | €6k | €3k | €3k | €3k | ▼ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €15k | €13k | €-16k | €-118k | ▼ 631% |
| + Depreciation and write-downs630 | €6k | €6k | €8k | €12k | €14k | ▲ 16.1% |
| Operating cash flow (approximation) | €22k | €21k | €21k | €-4k | €-104k | ▼ 2,581% |
| Investment in fixed assets (approximation) | - | €0 | €-127k | €-39k | €151k | ▲ 483% |
| Change in cash | - | €-4k | €-3k | €3k | €21k | ▲ 582% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-118k
Net result drops to €-118k, the lowest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 71 days late
2023
31-12
Financial
Equity above €200kEq €246k ▲167%
4 profitable years in a row build equity to €246k.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Back to profitnet €17k
Net result €17k after 2 loss-making years.
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 125 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Brussel · 1 establishment unit since 2011
Ground area
3,549 m²
Building footprint
1,179 m²
Volume, LiDAR
29,434 m³
Parcel 21807G0129/00A004, Brussels · tallest building 33.4 m, ±10 floors. Linked by address, not a title deed.
16
companies at this address
See who is registered here
1 establishment unit
F.M.R.
since 20112.198.046.724
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0129/00A004 | Brussels | 3,549 m² | 1 · 1,179 m² | 33.4 m · 10 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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,661 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 (pre-2019)
Founded24-02-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
patrickdufaz@skynet.beBrussel
Phone
0488/37.56.90Brussel
Scores and ratios are computed by Checked and are not a credit decision.