Financials
- Fiscal year
- 2025
- Turnover
- €118,719
- Profit
- €26,045
- Solvency
- -152.8%
Turnover▲ 782%
Net result
20202025
F.S.M.
ActiveSummary
F.S.M. has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€27,066) and a net result of €26,045. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 5% of 16076 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Activity
Property management for co-owned buildings (syndics)
NACE 68321Real estate appraisal on a fee or contract basis NACE 68322
#1 oldest company in Oreye, Real estate sector1 site
Size
€118,719turnover 2025
- Equity
- -€27,066
- Profit
- €26,045
Structure
Accounts filed 60 d late0 of 4 deeds read
Why 57Capped at 59: negative equity- Negative equity -€27,066- Latest accounts 60 days late; 1 of the last 3 late+ Founded in 1988+ Size: turnover €118,719, total assets €17,718Show the evidence
Checked score
Score 2025
57
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 68% of its sector peers (NACE 68, micro)
Performance against the sector, not lower risk
Negative equity caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency
0=
equity -152.8% of total assets
Liquidity
72+21
short-term debt 55.2% · cash 79.1%
Profitability
100+31
return on assets 147.0%
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 1.0%
12-2024: 1.0%● 0.0% vs 11-2024
01-2025: 1.0%▲ +2.3% vs 12-2024
02-2025: 1.0%▲ +1.0% vs 01-2025
03-2025: 1.0%▼ -0.6% vs 02-2025
04-2025: 1.0%▲ +2.1% vs 03-2025
05-2025: 1.0%▲ +0.6% vs 04-2025
06-2025: 1.0%▲ +3.7% vs 05-2025
07-2025: 1.2%▲ +10.5% vs 06-2025
08-2025: 1.3%▲ +11.7% vs 07-2025highest value
09-2025: 0.5%▼ -58.2% vs 08-2025
10-2025: 0.5%● 0.0% vs 09-2025
11-2025: 0.5%● 0.0% vs 10-2025
12-2025: 0.5%● 0.0% vs 11-2025
01-2026: 0.6%▲ +2.4% vs 12-2025
02-2026: 0.6%● 0.0% vs 01-2026
03-2026: 0.6%▼ -0.5% vs 02-2026
04-2026: 0.6%▲ +2.2% vs 03-2026
05-2026: 0.6%▲ +0.7% vs 04-2026
06-2026: 0.6%▲ +3.9% vs 05-2026
07-2026: 0.7%▲ +14.1% vs 06-2026
08-2026: 0.9%▲ +39.1% vs 07-2026
09-2026: 1.1%▲ +19.5% vs 08-2026
10-2026: 0.3%▼ -74.7% vs 09-2026lowest value
- Negative equity -€27,066 raises the probability
- Founded in 1988 lowers the probability for this profile
- Size: turnover €118,719, total assets €17,718 lowers the probability for this profile
- Latest accounts 60 days late; 1 of the last 3 late raises the probability
No credit on open account
Liquidity ample (current ratio 1.79 against 7.75 in 2024; short-term debt: 55.2% and cash: 79.1% of total assets), but equity is negative.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, micro). Better than this share of them on solvency 5%, liquidity 81%, profitability 95%, growth against the median 92%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 16076 sector peers (2025).
NBB · sector comparisonPosition among 16076 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-09-2026, 60 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
60 d late
2024
25 d late
2023
24 d late
2022
32 d late
2021
22 d late
2020
1 d early
2019
27 d 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 27 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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. Usually files around 25 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
04-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Highest result since 2018net €26,045 ▲601%
- Annual accounts filedfiscal year 2024 · micro…
Key points
By topic
Timeline
- Events
- 16
- Since
- 2017
- Next accounts
- by 31-07-2027
- 29-09-2026Annual accounts filed
- 31-12-2025Highest result since 2018
- 25-08-2025Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Property management for co-owned buildings (syndics)NACE 68321
- Founded
- 22-03-1988
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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