F.P.C.
ActiveSummary
F.P.C. has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €472,297 and a net result of €384,396. Equity is growing by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 65% of 5071 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+13
Solvency84▲+24
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 2.52 against 1.43 in 2024; short-term debt: 31.4% and cash: 52.1% of total assets), and 40.8% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
59.2%
Return on assets
48.2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
127 d early
2023
33 d early
2022
40 d early
2021
4 d early
2020
5 d late
2019
45 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 36 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
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
€384,396▲ 224%
2024 · €118,799
Working capital
€380,756▲ 188%
2024 · €132,362
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 46, Wholesale trade, 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
Operating result€169,283€21,679▼ 87.2%€43,624▲ 101%€140,141▲ 221%€261,953▲ 86.9%
Net result€144,047above the sector's middle half€19,096within the sector's middle half▼ 86.7%€38,272within the sector's middle half▲ 100%€118,799within the sector's middle half▲ 210%€384,396within the sector's middle half▲ 224%
Equity€186,534above the sector's middle half▼ 1.6%€205,630above the sector's middle half▲ 10.2%€243,902within the sector's middle half▲ 18.6%€287,701within the sector's middle half▲ 18.0%€472,297within the sector's middle half▲ 64.2%
Total assets€376,231within the sector's middle half▲ 7.4%€602,016above the sector's middle half▲ 60.0%€687,843within the sector's middle half▲ 14.3%€830,204within the sector's middle half▲ 20.7%€798,166below the sector's middle half▼ 3.9%
Debt€156,515▼ 2.6%€364,530▲ 133%€414,412▲ 13.7%€515,301▲ 24.3%€325,868▼ 36.8%
Working capital€170,616above the sector's middle half▲ 29.0%€123,637above the sector's middle half▼ 27.5%€146,483within the sector's middle half▲ 18.5%€132,362within the sector's middle half▼ 9.6%€380,756within the sector's middle half▲ 188%
Solvency49.6%within the sector's middle half▼ 4.5pp34.2%within the sector's middle half▼ 15.4pp35.5%within the sector's middle half▲ 1.3pp34.7%within the sector's middle half▼ 0.8pp59.2%within the sector's middle half▲ 24.5pp
Current ratio3.36above the sector's middle half▲ 0.951.93within the sector's middle half▼ 1.431.75within the sector's middle half▼ 0.181.43within the sector's middle half▼ 0.322.52within the sector's middle half▲ 1.09
Return on assets (ROA)38.3%above the sector's middle half▲ 42.7pp3.2%within the sector's middle half▼ 35.1pp5.6%within the sector's middle half▲ 2.4pp14.3%above the sector's middle half▲ 8.7pp48.2%above the sector's middle half▲ 33.9pp
Staff (FTE)3.7▲ 32.1%4.8▲ 29.7%5.7within the sector's middle half▲ 18.8%6.7within the sector's middle half▲ 17.5%8.7within the sector's middle half▲ 29.9%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +224% on 2024. Partial demerger to V.J.T., effective 29-12-2025. This fiscal year ran 15 months, the previous one 12.
- 2025 Equity +64% on 2024. Partial demerger to V.J.T., effective 29-12-2025.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 87% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €798,166
Fixed assets
€166,557 ▼ 57.2%
Current assets
€631,608 ▲ 43.3%
Equity and liabilities €798,166
Equity
€472,297 ▲ 64.2%
Provisions
€0 ▼ 100%
Debt
€325,868 ▼ 36.8%
Debt's share of the balance-sheet total falls from 62.1% to 40.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€316,080▲
2024 · €173,356
Cash flow
€438,524▲
2024 · €152,014
Quick ratio
2.38▲
2024 · 1.30
Debt to equity
0.69▼
2024 · 1.79
ROE
81.4%▲
2024 · 41.3%
Interest coverage
34.58▲
2024 · 29.76
Debt ≤ 1 year
€250,852▼
2024 · €308,451
Debt > 1 year
€75,016▼
2024 · €206,850
Income taxes
€70,912▲
2024 · €38,774
Staff costs
€585,158▲
2024 · €320,449
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,340 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 31,371 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €140,870 | €173,285 | €247,780 | €320,449 | €585,158 | ▲ 82.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,906 | €15,036 | €25,386 | €33,215 | €54,127 | ▲ 63.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €16,247 | €11,283 | ▼ 30.6% |
| Other operating charges640/8 | €1,539 | €21,566 | €2,791 | €6,524 | €6,255 | ▼ 4.1% |
| Gross operating margin9900 | €318,598 | €231,566 | €319,582 | €516,575 | €918,776 | ▲ 77.9% |
| Operating profit (loss)9901 | €169,283 | €21,679 | €43,624 | €140,141 | €261,953 | ▲ 86.9% |
| Financial income75/76B | €14,479 | €10,809 | €10,671 | €20,930 | €200,168 | ▲ 856% |
| Recurring financial income75 | €14,479 | €10,809 | €10,671 | €20,930 | €200,168 | ▲ 856% |
| Financial charges65/66B | €4,592 | €6,707 | €5,422 | €5,825 | €9,140 | ▲ 56.9% |
| Recurring financial charges65 | €4,592 | €6,707 | €5,422 | €5,825 | €9,140 | ▲ 56.9% |
| Profit (loss) for the period before taxes9903 | €179,171 | €25,781 | €48,873 | €155,246 | €452,981 | ▲ 192% |
| Transfer from deferred taxes780 | €457 | €1,325 | €2,327 | €2,327 | €2,327 | = |
| Transfer to deferred taxes680 | €33,638 | - | - | - | - | - |
| Income taxes67/77 | €1,942 | €8,010 | €12,928 | €38,774 | €70,912 | ▲ 82.9% |
| Profit (loss) for the period9904 | €144,047 | €19,096 | €38,272 | €118,799 | €384,396 | ▲ 224% |
| Transfer from tax-exempt reserves789 | €1,370 | €3,976 | €6,981 | €6,981 | €8,505 | ▲ 21.8% |
| Transfer to tax-exempt reserves689 | €100,915 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €44,503 | €23,072 | €45,254 | €125,781 | €392,901 | ▲ 212% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €376,231 | €602,016 | €687,843 | €830,204 | €798,166 | ▼ 3.9% |
| Fixed assets21/28 | €133,355 | €345,160 | €346,603 | €389,391 | €166,557 | ▼ 57.2% |
| Intangible fixed assets21 | - | - | €1,383 | €1,648 | €390 | ▼ 76.3% |
| Tangible fixed assets22/27 | €130,205 | €342,010 | €342,071 | €384,593 | €166,117 | ▼ 56.8% |
| Land and buildings22 | €96,030 | €284,956 | €277,024 | €284,607 | €77,462 | ▼ 72.8% |
| Plant, machinery and equipment23 | €2,034 | €3,011 | €3,600 | €2,396 | €661 | ▼ 72.4% |
| Furniture and vehicles24 | €32,141 | €54,043 | €59,847 | €97,590 | €87,994 | ▼ 9.8% |
| Assets under construction and advance payments27 | - | - | €1,600 | - | - | - |
| Financial fixed assets28 | €3,150 | €3,150 | €3,150 | €3,150 | €50 | ▼ 98.4% |
| Current assets29/58 | €242,876 | €256,856 | €341,239 | €440,814 | €631,608 | ▲ 43.3% |
| Stocks and contracts in progress3 | €35,126 | €31,246 | €50,824 | €39,024 | €35,485 | ▼ 9.1% |
| Stocks30/36 | €13,862 | €31,246 | €50,824 | €39,024 | €35,485 | ▼ 9.1% |
| Contracts in progress37 | €21,264 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €88,743 | €99,579 | €158,070 | €198,513 | €168,295 | ▼ 15.2% |
| Trade receivables40 | €77,170 | €94,963 | €141,464 | €166,807 | €161,052 | ▼ 3.4% |
| Other amounts receivable41 | €11,573 | €4,616 | €16,606 | €31,707 | €7,243 | ▼ 77.2% |
| Cash at bank and in hand54/58 | €117,421 | €123,655 | €129,757 | €197,255 | €415,846 | ▲ 111% |
| Deferred charges and accrued income490/1 | €1,587 | €2,376 | €2,588 | €6,021 | €11,983 | ▲ 99.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €376,231 | €602,016 | €687,843 | €830,204 | €798,166 | ▼ 3.9% |
| Equity10/15 | €186,534 | €205,630 | €243,902 | €287,701 | €472,297 | ▲ 64.2% |
| Contributions10/11 | €6,197 | €6,197 | €6,197 | €6,197 | €4,057 | ▼ 34.5% |
| Outside capital11 | €6,197 | €6,197 | €6,197 | €6,197 | €4,057 | ▼ 34.5% |
| Other1109/19 | €6,197 | €6,197 | €6,197 | €6,197 | €4,057 | ▼ 34.5% |
| Reserves13 | €180,337 | €199,433 | €237,705 | €281,504 | €468,240 | ▲ 66.3% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | - | - | - |
| Tax-exempt reserves132 | €99,545 | €95,568 | €88,587 | €81,605 | €63,612 | ▼ 22.0% |
| Distributable reserves133 | €78,933 | €102,005 | €147,259 | €199,899 | €404,628 | ▲ 102% |
| Provisions and deferred taxes16 | €33,182 | €31,856 | €29,529 | €27,202 | - | - |
| Deferred taxes168 | €33,182 | €31,856 | €29,529 | €27,202 | - | - |
| Amounts payable17/49 | €156,515 | €364,530 | €414,412 | €515,301 | €325,868 | ▼ 36.8% |
| Amounts payable after more than one year17 | €84,255 | €231,312 | €213,156 | €206,850 | €75,016 | ▼ 63.7% |
| Financial debts170/4 | €84,255 | €231,312 | €213,156 | €206,850 | €75,016 | ▼ 63.7% |
| Amounts payable within one year42/48 | €72,260 | €133,218 | €194,756 | €308,451 | €250,852 | ▼ 18.7% |
| Current portion of amounts payable after more than one year42 | €12,976 | €28,709 | €33,696 | €41,363 | €31,911 | ▼ 22.9% |
| Financial debts43 | €7,500 | €7,500 | €7,500 | €19,273 | €12,439 | ▼ 35.5% |
| Credit institutions430/8 | €7,500 | €7,500 | €7,500 | €19,273 | €12,439 | ▼ 35.5% |
| Trade debts44 | €21,097 | €73,085 | €77,102 | €83,821 | €88,846 | ▲ 6.0% |
| Suppliers440/4 | €21,097 | €73,085 | €77,102 | €83,821 | €88,846 | ▲ 6.0% |
| Taxes, remuneration and social security45 | €30,687 | €23,087 | €76,190 | €105,214 | €116,268 | ▲ 10.5% |
| Taxes450/3 | €25,495 | €17,646 | €32,870 | €61,973 | €52,019 | ▼ 16.1% |
| Remuneration and social security454/9 | €5,192 | €5,441 | €43,320 | €43,241 | €64,248 | ▲ 48.6% |
| Other amounts payable47/48 | - | €837 | €268 | €58,780 | €1,388 | ▼ 97.6% |
| Accrued charges and deferred income492/3 | - | - | €6,500 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €144,047 | €19,096 | €38,272 | €118,799 | €384,396 | ▲ 224% |
| + Depreciation and write-downs630 | €6,906 | €15,036 | €25,386 | €33,215 | €54,127 | ▲ 63.0% |
| Operating cash flow (approximation) | €150,953 | €34,132 | €63,659 | €152,014 | €438,524 | ▲ 188% |
| Investment in fixed assets (approximation) | - | -€226,842 | -€26,829 | -€76,002 | €168,706 | ▲ 322% |
| Change in cash | - | €6,234 | €6,102 | €67,497 | €218,591 | ▲ 224% |
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
2026
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
09-02
State Gazette act
Capital & shares · RestructuringDemerger · Net-asset statement · Accounting effect8 facts ▸
State Gazette act
Capital & shares · Restructuring
Demerger · Net-asset statement · Accounting effect8 facts ▸
- General meeting, 29-12-2025
- Demerger, 29-12-2025
- Net-asset statement, 30-09-2025
- Accounting effect, 01-10-2025
- Equity reduction, 425874.16
- Split proposal filing, Ondernemingsrechtbank Gent, afdeling Kortrijk, 05-11-2025
- Split proposal filing, Ondernemingsrechtbank Gent, afdeling Ieper, 05-11-2025
- Sole shareholder, enige aandeelhouder
2025
31-12
Financial
Highest result since 2018net €384,396 ▲224%
Operating result €261,953, net result €384,396, both a record.
2024
24-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
28-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €200,000Eq €205,630 ▲10.2%
2 profitable years in a row build equity to €205,630.
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €144,047
Net result €144,047 after one loss-making year.
05-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
30-09
Financial
Weakest financial yearnet -€15,300
Net result drops to -€15,300, the lowest in the series; recovery starts the following year.
16-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
30-09
Financial
Equity above €200,000Eq €204,787 ▲25%
2 profitable years in a row build equity to €204,787.
08-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Wielsbeke · 1 establishment unit since 1998
Ground area
102 m²
Building footprint
90 m²
Parcel 37009A0788/00B007, Flanders. Linked by address, not a title deed.
1 establishment unit
F.P.C.
since 19982.088.358.134
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37009A0788/00B007 | Flanders | 102 m² | 1 · 90 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.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- V.J.T.
- F.P.C.
Highest known parent: V.J.T.. The sources do not say who stands above it.
Owners 1
- V.J.T.parentSourceaccounts V.J.T. 2025100%
Holdings 1
-
50%
According to the annual accounts to 30-09-2024 of F.P.C. and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionSplit off to:V.J.T.
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Of 6,144 companies in sector 46190 we hold annual accounts for 2,577. 1,561 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
Founded08-09-1998
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
46649Wholesale of other machinery and equipment
46900Non-specialised wholesale trade
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
Contact
E-mail
info@blusapparaten.beWielsbeke
E-invoicing
Reachable via Peppol
Peppol ID
0208:0464067004
Also
9925:BE0464067004
Registered
30-10-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.