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Complete company report
Generated 21-07-2026
Active BE 0632.685.864Private limited company

F&S

· 11 yrs active
Conclusion Checked

The file of F&S contains 2 historical bankruptcy publications, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 2.2% (moderate). The 2023 annual accounts show equity of €9k and a net result of €-4k. Equity is growing by ~43.6% per year across the filed fiscal years.

Based on the State Gazette, CBE and 6 annual accounts.
Key figures
Equity €9k
Net result €-4k
Active 11 yrs
Publications 5
Snowflake analysis 5 axes · computed by Checked
Health37Profitability0Solvency100Growth78Stability85
60 / 100

Strong profile, led by solvency.

Health 37
Profitability 0
Solvency 100
Growth 78
Stability 85
Bankruptcy probability (12 mo) Checked model v1 · free
2.2% Moderate
0%0,5%1,5%4%10%≥25%
No NACE activity registered +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
20 / 100
Moderate risk
Components
· 2 historical bankruptcy publications (+20)
Trust signals 1 signals
Prior bankruptcy
Earlier bankruptcy on record in the Belgian State Gazette, no current open procedure.
Administrative Flags 0 events
No administrative flags
Health barometer FY 2023 · computed
37 / 100 Weak
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview8 NBB filings
Annual accounts filed on 19-08-2024 with the NBB · fiscal year 2023 · micro
€-10k€0€10kOperating result 2019: €8k€8kNet result 2019: €-9k€-9kOperating result 2020: €11k€11kNet result 2020: €631€631Operating result 2021: €14k€14kNet result 2021: €9k€9kOperating result 2022: €1k€1kNet result 2022: €-113€-113Operating result 2023: €-3k€-3kNet result 2023: €-4k€-4k20192020202120222023
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~43.6%/year over 6 fiscal years, indicative, assuming unchanged policy.
€0€20k€40k€60k2024: €41k (€36k - €45k)2025: €47k (€40k - €54k)2026: €53k (€44k - €63k)2018: €2k2019: €9k2020: €19k2021: €28k2022: €28k2023: €9k201820192020202120222023202420252026
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

EBITDA
€1k
-92.0% 18-23
Net profit
€-4k
-3231.4% 18-23
Cash flow
€72
-99.3% 18-23
Total assets
€9k
-68.8% 18-23
Equity
€9k
-66.6% 18-23
Working capital
€28k
+16.6% 18-23
Income taxes
€1k
-69.6% 18-23
Debt
€2k
-76.6% 18-23
Debt ≤ 1y
€2k
-75.2% 18-23
Current ratio
14.97
+277.5% 18-23
Quick ratio
14.97
+277.5% 18-23
Solvency
100.0%
+7.0% 18-23
Debt / equity
0.07
-76.5% 18-23
ROE
-40.2%
-9888.4% 18-23
ROA
-40.2%
-10590.7% 18-23
Interest coverage
3.98
-89.7% 18-23
Figures by fiscal year
Fiscal year2023
Revenue-
EBITDA-
Net profit€-4k
Cash flow-
Staff costs-
Income taxes-
Dividends-
Total assets€9k
Equity€9k
Debt-
of which ≤ 1y-
of which > 1y-
Working capital-
Employees (FTE)-
Ratios (computed)
2023
Current ratio-
Quick ratio-
Working capital ratio-
Solvency100.0%
Debt / equity-
Long-term debt ratio-
Interest coverage-
Gross margin-
Net margin-
ROA-40.2%
ROE-40.2%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€9k
Fixed assets 21/28€90
Financial fixed assets 28€90
Current assets 29/58€9k
Amounts receivable within one year 40/41€269
Cash & bank 54/58€9k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€9k
Equity 10/15€9k
Contributions / capital 10/11€4k
Reserves 13€10k
Accumulated profits (losses) 14€-4k
Income statement
Gross operating margin 9900€-2k
Operating result 9901€-3k
Financial income 75€3
Financial charges 65€307
Result before taxes 9903€-4k
Net result for the period 9904€-4k
Result to be appropriated 9905€-4k
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates1 person
Role Name Tenure Source
Curator KARL VANSTIPELEN
A. DE COCKPLEIN 9, 1831 DIEGEM
 22-07-2025 → present Belgian State Gazette
Legal Structure
NACE primary -
Legal form Private limited company(610)
Incorporation23-06-2015
StatusActive
Postal code-
First BS signal 28-07-2025
Latest BS signal 26-05-2026
Company structure, linked entities1 linked entities
F&SBE 0632.685.864KARL VANSTIPELENReceiver ↔ 245Safety & Spray Te…Tuinwerken Vanfro…DOLO COMPANY
Mandates
↔ 1 of these mandate-holders are active on other cases, click any red card to open that KBO.
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
22001B0038/00K000 Flanders 7,925 m² 1 · 4,905 m² 12.9 m · 2 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 13 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026
26-05-2026
Bankruptcy Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Brussel · F&S BV STEENWEG OP RUISBROEK 257, 1620 DROGENBOS · event 05-05-2026
2025
28-07-2025
Bankruptcy Opening
Ondernemingsrechtbank Brussel · F&S BV STEENWEG OP RUIS- BROEK 257, 1620 DROGENBOS · event 22-07-2025
08-01-2025
State Gazette act Capital & shares
2024
06-11-2024
State Gazette act Registered-office change
19-08-2024
NBB filing Annual accounts filed
fiscal year 2023 · micro
30-04-2024
State Gazette act Director changes
2023
26-06-2023
NBB filing Annual accounts filed
fiscal year 2022 · micro
2022
25-08-2022
NBB filing Annual accounts filed
fiscal year 2021 · micro
2021
26-08-2021
NBB filing Annual accounts filed
fiscal year 2020 · micro
2020
08-06-2020
NBB filing Annual accounts filed
fiscal year 2019 · micro
2019
09-12-2019
NBB filing Annual accounts filed
fiscal year 2018 · micro
2018
06-09-2018
NBB filing Annual accounts filed
fiscal year 2017 · micro
2017
12-06-2017
NBB filing Annual accounts filed
fiscal year 2016 · verkort
Lifecycle & Insolvency Signals 2 events
26-05-2026
Bankruptcy Bankruptcy closure (insufficient assets)
Date: 05-05-2026 · Ondernemingsrechtbank Brussel · F&S BV STEENWEG OP RUISBROEK 257, 1620 DROGENBOS · Publications in State Gazette ↗
28-07-2025
Bankruptcy Opening
Date: 22-07-2025 · Ondernemingsrechtbank Brussel · F&S BV STEENWEG OP RUIS- BROEK 257, 1620 DROGENBOS · Publications in State Gazette ↗
Time machine, BS events + macro context 2021, 2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262025-07-28 · Bankruptcy · Opening2026-05-26 · Bankruptcy · Bankruptcy closure (insufficient assets)
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad, acts 3 acts
Capital history · 1
08-01-2025
Capital change
Address history · 1
06-11-2024
Registered-office move
All acts · 3 updated 1 year ago
2025
08-01-2025 All shares are now held by a single shareholder Capital & shares
Technical details 
{
  "events": [
    {
      "kind": "share_transfer",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": "68.01.01.34.25",
          "kind": "person",
          "name": "YAKUT METIN",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 100,
          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "eenhoofdigheid_declaration",
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      "delta_eur": null,
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      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Luik",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2025-01-08",
    "filing_date": "2024-12-27",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "act_date": null,
    "unanimous": null,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2024-10-01"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0632.685.864",
    "name_full": "F\u0026S",
    "legal_form": "Besloten vennootschap",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": 100.0,
      "kind": "person",
      "name": "YAKUT METIN",
      "role": "aandeelhouder",
      "n_shares": 100,
      "share_class": null
    }
  ],
  "share_classes_after": []
}
2024
06-11-2024 Registered office moved to Drogenbos Registered-office change
  • 257 → Chaussée de Ruisbroek 257, 1620 Drogenbos
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Chauss\u00E9e de Ruisbroek 257, 1620 Drogenbos",
        "city": "Drogenbos",
        "region": "vlaams_gewest",
        "street": "Chauss\u00E9e de Ruisbroek",
        "country": "BE",
        "postcode": "1620",
        "box_number": null,
        "street_number": "257",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "257",
        "city": null,
        "region": null,
        "street": null,
        "country": "BE",
        "postcode": null,
        "box_number": null,
        "street_number": "257",
        "locality_suffix": null
      },
      "effective_date": "2024-07-01",
      "evidence_quote": "",
      "region_changed": true,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "act_body",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": null,
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": true,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": null,
    "filing_date": "2024-10-25",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "date": "2024-07-01",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0632.685.864",
    "name_full": "F\u0026S",
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Svilen Arnaudov",
    "org_rep_person_name": null,
    "person_role_at_subject": "Bestuurder"
  },
  "co_filed_documents": [
    "Annexes du Moniteur belge"
  ]
}
30-04-2024 1 director appointed, 1 resigning Director changes
  • HRISTOVA BORISLAVA BORISLAVOVA, Zaakvoerder
  • SAVI FETHULLAH, Zaakvoerder
Technical details 
{
  "events": [
    {
      "kind": "director_out",
      "role": "zaakvoerder",
      "person": {
        "rrn": "91.06.04-287.91",
        "name": "SAVI FETHULLAH",
        "address": "GUIDO GEZELLESTRAAT 17, 9090 - MELLE",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": "decharge_granted",
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "Het ontslag van de huidige zaakvoerder/bestuurder SAVI FETHULLAH met de rijkregisternummer 91.06.04-287.91 wonende te GUIDO GEZELLESTRAAT 17, 9090 - MELLE en werd hem decharge verleend voor zijn volledige mandaat als zaakvoerder.",
      "decharge_status": "granted",
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "zaakvoerder",
      "person": {
        "rrn": "78.07.30-396.03",
        "name": "HRISTOVA BORISLAVA BORISLAVOVA",
        "address": "GRIENDEPLEIN 4,9000-GENT",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": "2024-04-15",
      "evidence_quote": "Benoeming van mevrouw HRISTOVA BORISLAVA BORISLAVOVA met de rijkregisternummer 78.07.30-396.03, wonende te GRIENDEPLEIN 4,9000-GENT en dit vanaf 15/04/2024.",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "until_date",
        "value": "2024-04-15"
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "decharge_granted",
      "role": "zaakvoerder",
      "person": {
        "rrn": "91.06.04-287.91",
        "name": "SAVI FETHULLAH",
        "address": "GUIDO GEZELLESTRAAT 17, 9090 - MELLE",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "werd hem decharge verleend voor zijn volledige mandaat als zaakvoerder.",
      "decharge_status": "granted",
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "rep_rotation",
      "role": "vaste_vertegenwoordiger",
      "person": {
        "rrn": "78.07.30-396.03",
        "name": "HRISTOVA BORISLAVA BORISLAVOVA",
        "address": "GRIENDEPLEIN 4,9000-GENT",
        "birth_date": null,
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      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "De 100% aandelen worden ook overgedragen aan de nieuwe zaakvoerder/bestuurder.",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "board_snapshot",
      "role": "bestuurder",
      "person": {
        "rrn": "78.07.30-396.03",
        "name": "HRISTOVA BORISLAVA BORISLAVOVA",
        "address": "GRIENDEPLEIN 4,9000-GENT",
        "birth_date": null,
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        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "HRISTOVA BORISLAVA BORISLAVOVA aanvaardt zijn mandaat.",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "sole_shareholder_declaration",
      "role": "enige_bestuurder",
      "person": {
        "rrn": "78.07.30-396.03",
        "name": "HRISTOVA BORISLAVA BORISLAVOVA",
        "address": "GRIENDEPLEIN 4,9000-GENT",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "Getekend door 100% aandelen, HRISTOVA BORISLAVA BORISLAVOVA",
      "decharge_status": null,
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      "rep_rotation_new_rep": null,
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      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": null,
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    "firm_name": null,
    "office_city": "Gent",
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2024-04-30",
    "filing_date": "2024-04-18",
    "act_kind_objet": "WIJZIGING ZAAKVOERDER (bestuurder) KWIJTING, WIJZIGING MAATSCHAPPELIJKE ZETEL"
  },
  "decisions": [
    {
      "body": "bijzondere_algemene_vergadering",
      "date": "2024-04-15",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0632.685.864",
    "name_full": "F\u0026S",
    "legal_form": "BESLOTEN VENNOOTSCHA\u0420"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "HRISTOVA BORISLAVA BORISLAVOVA",
    "org_rep_person_name": null,
    "person_role_at_subject": "enige_bestuurder"
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
Credit advice verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Company registry (CBE) Crossroads Bank
Names & trade names
Legal nameNL F&S
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative