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F.S.B.

Active
Public limited companyfounded 1959active for 67 yearsMinderbroedersrui 11, 2000 Antwerpen, Belgium21 active companies are registered at this addressKBO/BCE: BE 0400.377.594
Summary

F.S.B. has been active since 1959 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1.6m) and a net result of -€130,469. Equity is shrinking by about 8.5% per year across the filed financial years. Its solvency ranks better than 7% of 1,128 sector peers (NACE 77, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Overview

Activity
Rental and leasing activities
NACE 77320
5th oldest company in the province of Antwerp, Rental and leasing sector1 site
Size
€2.7mtotal assets 2025
Equity
-€1.6m
Loss
-€130,469
Financial health
54 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
0.6%
Structure
Parent
Down2Earth Capital · 100%
Accounts filed 3 days late1 of 11 deeds read
Why 54raises riskCapped at 59: negative equityNegative equity -€1.6mLiquidity: current ratio 2.70, cash €29,341, halvedLatest accounts 3 days late; 2 of the last 3 latelowers riskSize: total assets €2.7mShow the evidence

Checked score

Score 2025
54 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 24% of its sector peers (NACE 77, small)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency 0=
equity -57.4% of total assets
Liquidity 51-5
short-term debt 8.5% · cash 1.1%
Profitability 22-1
return on assets -4.8%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (466 companies, NACE 77, small)
Last 24 months 11-2024: 0.9% 12-2024: 1.0%▲ +0.1 percentage points vs 11-2024 01-2025: 0.9%▼ -0.1 percentage points vs 12-2024 02-2025: 1.1%▲ +0.2 percentage points vs 01-2025 03-2025: 1.2%▲ +0.1 percentage points vs 02-2025 04-2025: 1.5%▲ +0.3 percentage points vs 03-2025 05-2025: 1.6%▲ +0.1 percentage points vs 04-2025 06-2025: 1.9%▲ +0.3 percentage points vs 05-2025 07-2025: 2.0%▲ +0.1 percentage points vs 06-2025 08-2025: 2.5%▲ +0.5 percentage points vs 07-2025highest value 09-2025: 0.6%▼ -1.9 percentage points vs 08-2025lowest value 10-2025: 0.6%● unchanged vs 09-2025 11-2025: 0.6%● unchanged vs 10-2025 12-2025: 0.6%● unchanged vs 11-2025 01-2026: 0.6%● unchanged vs 12-2025 02-2026: 0.7%▲ +0.1 percentage points vs 01-2026 03-2026: 0.8%▲ +0.1 percentage points vs 02-2026 04-2026: 1.0%▲ +0.2 percentage points vs 03-2026 05-2026: 0.6%▼ -0.4 percentage points vs 04-2026 06-2026: 0.6%● unchanged vs 05-2026 07-2026: 0.6%● unchanged vs 06-2026 08-2026: 0.6%● unchanged vs 07-2026 09-2026: 0.6%● unchanged vs 08-2026 10-2026: 0.6%● unchanged vs 09-2026
No credit on open account
Liquidity ample (current ratio 2.7, compared with 3.16 in 2024, above the usual 1.5; short-term debt: 8.5% and cash: 1.1% of total assets), but equity is negative.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 77, small): better than 1% on solvency, 67% on liquidity, 10% on profitability and 17% on growth.

The bankruptcy probability was computed on 18-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
lowers riskraises riskneutral
lowers risk · Size: total assets €2.7m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Negative equity -€1.6m
NBB · annual accounts
raises risk · Liquidity: current ratio 2.70, cash €29,341, halved
NBB · annual accounts
raises risk · Latest accounts 3 days late; 2 of the last 3 late
NBB · filings
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year -€1.6m
neutral · Filed after the deadline
The financial year that closed on 31-08-2025 was due by 31-03-2026 and was filed on 03-04-2026, 3 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
3 days late
2024
151 days late
2023
65 days late
2022
46 days late
2021
1 day early
2020
97 days late
2019
30 days late
← 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 56 days after the deadline; the sector median (NACE 77) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 31-08-2026 is due by 31-03-2027. Nothing is late today. The company usually files around 16 May (4 of the last 5 filed years within 47 days of that day).
Companies Code · seven months
Where today falls in the filing period
31-08-2026 year end18-10-2026 today31-03-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · abbreviated…
  2. Annual accounts filedfinancial year 2024 · abbreviated…
  3. Annual accounts filedfinancial year 2023 · abbreviated…

Key points

  • Risk: Negative equityfinancial year 2025: debts exceed assets -€1.6m View
  • Risk: 3 loss-making years in a rowloss financial year 2025 -€130,469 View
  • Caution: Among the weakest 5% on equitysector median €258,471 · 1,128 companies -€1.6m View
  • Controlled by Down2Earth Capital 100% View
  • Active since 1959founded 29-03-1959 67 years View

By topic

Financials

Financial year
2025
Total assets
€2.7m
Loss
-€130,469
Solvency
-57.4%
Turnover▲ 2.6%
Net result
20192021
Go to Financials

Timeline

Events
52
Since
1979
Next accounts
by 31-03-2027
  1. 22-05-2024Resignations: Down2Earth Capital (director) and Manzel (director)
  2. 16-05-2023Annual accounts filed
  3. 31-08-2022Back to profit
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Rental and leasing activitiesNACE 77320
Founded
29-03-1959
Year ends
31-08
Peppol
Reachable for e-invoices
Go to Company details

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