F.S.M. construct
ActiveSummary
The computed 12-month bankruptcy probability of F.S.M. construct is 2.4% (moderate). The 2024 annual accounts show equity of €65,007 and a net result of €3,965. Equity is growing by ~27.7% per year across the filed fiscal years. Its solvency ranks better than 41% of 36380 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability59▼-8
Solvency64▲+16
Growth73=
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.14 in 2023; short-term debt: 61% and cash: 27.2% of total assets), and 61% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
39%
Return on assets
2.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
7 d early
2023
6 d early
2022
24 d early
2021
18 d early
2020
13 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 14 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
€1.1m▼ 59.5%
2021 · €2.8m
EBIT margin
3.1%▲ 0.2pp
2021 · 2.9%
Net result
€3,965▼ 84.1%
2023 · €24,866
Working capital
€49,477▲ 69.8%
2023 · €29,130
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€886,862-€2.8m▲ 220%€1.1m
Operating result€4,303-€82,146▲ 1,809%€17,741▼ 78.4%€35,525▲ 100%€9,134▼ 74.3%
Net result€2,979-€43,115▲ 1,347%€15,084▼ 65.0%€24,866▲ 64.8%€3,965▼ 84.1%
EBIT margin0.5%-2.9%▲ 2.4pp3.1%
Equity€7,979-€51,093▲ 540%€36,177▼ 29.2%€61,043▲ 68.7%€65,007▲ 6.5%
Total assets€211,272-€574,442▲ 172%€317,420▼ 44.7%€262,335▼ 17.4%€166,840▼ 36.4%
Debt€119,398-€447,288▲ 275%€215,480▼ 51.8%€201,292▼ 6.6%€101,832▼ 49.4%
Working capital€45,433-€50,780▲ 11.8%€61,718▲ 21.5%€29,130▼ 52.8%€49,477▲ 69.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2021 Turnover +220%, Total assets +172% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 74% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €166,840
Fixed assets
€15,531 ▼ 51.3%
Current assets
€151,309 ▼ 34.3%
Equity and liabilities €166,840
Equity
€65,007 ▲ 6.5%
Debt
€101,832 ▼ 49.4%
Debt's share of the balance-sheet total falls from 76.7% to 61.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€20,256▼
2023 · €54,257
Cash flow
€15,087▼
2023 · €43,597
Current ratio
1.49▲
2023 · 1.14
Debt to equity
1.57▼
2023 · 3.30
ROE
6.1%▼
2023 · 40.7%
ROA
2.4%▼
2023 · 9.5%
Interest coverage
4.42▼
2023 · 11.73
Debt ≤ 1 year
€101,832▼
2023 · €201,292
Income taxes
€5,095▼
2023 · €9,463
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,047 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.4% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 5,047 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €886,862 | €2.8m | - | €1.1m | - | - |
| Non-recurring operating income76A | - | - | - | - | €402 | - |
| Goods, raw materials, services and sundry goods60/61 | - | €2.5m | - | €1.1m | - | - |
| Remuneration, social security and pensions62 | - | - | €7,012 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,333 | €23,211 | €19,838 | €18,732 | €11,122 | ▼ 40.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €261,985 | - | €70,361 | €72,182 | ▲ 2.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€7,834 | -€10,298 | -€65,763 | - | - |
| Other operating charges640/8 | - | €16,131 | €2,751 | €31,865 | €11,633 | ▼ 63.5% |
| Non-recurring operating charges66A | - | €5,978 | €967 | - | €2,955 | - |
| Gross operating margin9900 | €99,486 | €381,616 | €38,010 | €90,719 | €107,027 | ▲ 18.0% |
| Operating profit (loss)9901 | €4,303 | €82,146 | €17,741 | €35,525 | €9,134 | ▼ 74.3% |
| Financial income75/76B | - | €3,059 | €5,632 | €3,430 | €4,504 | ▲ 31.3% |
| Recurring financial income75 | €35 | €3,059 | €5,632 | €3,430 | €4,504 | ▲ 31.3% |
| Financial charges65/66B | - | €29,566 | €3,155 | €4,626 | €4,578 | ▼ 1.0% |
| Recurring financial charges65 | - | €29,566 | €3,155 | €4,626 | €4,578 | ▼ 1.0% |
| Profit (loss) for the period before taxes9903 | €4,267 | €55,639 | €20,218 | €34,328 | €9,059 | ▼ 73.6% |
| Income taxes67/77 | €1,289 | €12,524 | €5,134 | €9,463 | €5,095 | ▼ 46.2% |
| Profit (loss) for the period9904 | €2,979 | €43,115 | €15,084 | €24,866 | €3,965 | ▼ 84.1% |
| Profit (loss) for the period to be appropriated9905 | €2,979 | €43,115 | €15,084 | €24,866 | €3,965 | ▼ 84.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €211,272 | €574,442 | €317,420 | €262,335 | €166,840 | ▼ 36.4% |
| Fixed assets21/28 | €56,638 | €83,138 | €43,375 | €31,913 | €15,531 | ▼ 51.3% |
| Tangible fixed assets22/27 | €54,838 | €81,338 | €41,575 | €30,113 | €15,331 | ▼ 49.1% |
| Plant, machinery and equipment23 | - | €37,623 | €17,441 | €15,922 | €10,378 | ▼ 34.8% |
| Furniture and vehicles24 | - | €43,715 | €22,134 | €12,191 | €4,953 | ▼ 59.4% |
| Other tangible fixed assets26 | - | - | €2,000 | €2,000 | - | - |
| Financial fixed assets28 | €1,800 | €1,800 | €1,800 | €1,800 | €200 | ▼ 88.9% |
| Current assets29/58 | €154,634 | €491,304 | €274,045 | €230,422 | €151,309 | ▼ 34.3% |
| Amounts receivable after more than one year29 | - | - | €76,039 | €53,161 | - | - |
| Other amounts receivable291 | - | - | €76,039 | €53,161 | - | - |
| Amounts receivable within one year40/41 | €118,222 | €391,062 | €160,337 | €130,305 | €104,915 | ▼ 19.5% |
| Trade receivables40 | - | €187,023 | €79,084 | €92,502 | €55,550 | ▼ 39.9% |
| Other amounts receivable41 | - | €204,040 | €81,253 | €37,803 | €49,365 | ▲ 30.6% |
| Cash at bank and in hand54/58 | €35,996 | €96,749 | €34,712 | €46,109 | €45,446 | ▼ 1.4% |
| Deferred charges and accrued income490/1 | - | €3,492 | €2,958 | €847 | €947 | ▲ 11.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €211,272 | €574,442 | €317,420 | €262,335 | €166,840 | ▼ 36.4% |
| Equity10/15 | €7,979 | €51,093 | €36,177 | €61,043 | €65,007 | ▲ 6.5% |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €2,979 | €46,093 | €31,177 | €31,177 | €31,177 | = |
| Distributable reserves133 | - | €46,093 | €31,177 | €31,177 | €31,177 | = |
| Profit (loss) carried forward14 | - | - | - | €24,866 | €28,830 | ▲ 15.9% |
| Provisions and deferred taxes16 | €83,895 | €76,061 | €65,763 | - | - | - |
| Provisions for liabilities and charges160/5 | - | €76,061 | €65,763 | - | - | - |
| Other liabilities and charges164/5 | - | €76,061 | €65,763 | - | - | - |
| Amounts payable17/49 | €119,398 | €447,288 | €215,480 | €201,292 | €101,832 | ▼ 49.4% |
| Amounts payable after more than one year17 | €10,198 | €6,764 | €3,152 | - | - | - |
| Financial debts170/4 | - | €6,764 | €3,152 | - | - | - |
| Amounts payable within one year42/48 | €109,201 | €440,524 | €212,328 | €201,292 | €101,832 | ▼ 49.4% |
| Current portion of amounts payable after more than one year42 | - | €3,434 | €3,612 | €3,152 | - | - |
| Trade debts44 | €90,074 | €424,566 | €161,058 | €188,677 | €85,262 | ▼ 54.8% |
| Suppliers440/4 | - | €424,566 | €161,058 | €188,677 | €85,262 | ▼ 54.8% |
| Taxes, remuneration and social security45 | - | €12,524 | €17,658 | €9,463 | €5,470 | ▼ 42.2% |
| Taxes450/3 | - | €12,524 | €17,658 | €9,463 | €5,470 | ▼ 42.2% |
| Other amounts payable47/48 | - | - | €30,000 | - | €11,100 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,979 | €43,115 | €15,084 | €24,866 | €3,965 | ▼ 84.1% |
| + Depreciation and write-downs630 | €6,333 | €23,211 | €19,838 | €18,732 | €11,122 | ▼ 40.6% |
| Operating cash flow (approximation) | €9,311 | €66,325 | €34,922 | €43,597 | €15,087 | ▼ 65.4% |
| Investment in fixed assets (approximation) | - | -€49,710 | €19,925 | -€7,269 | €5,260 | ▲ 172% |
| Change in cash | - | €60,753 | -€62,038 | €11,397 | -€662 | ▼ 106% |
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
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2020net €43,115 ▲1,347%
Operating result €82,146, net result €43,115, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
3 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, Diest · 1 establishment unit since 2020
Ground area
5,252 m²
Building footprint
252 m²
Volume, LiDAR
1,004 m³
Parcel 24120E0211/00V003, Flanders · tallest building 6.6 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
F.S.M. construct
since 20202.297.688.587
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24120E0211/00V003 | Flanders | 5,252 m² | 1 · 252 m² | 6.6 m · 1 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.
Similar companies · same sector, comparable size
BUILDING WORKS
BE 0887.984.421
Etterbeek · Eq €65,048
Reno Rangers
BE 0793.260.159
Sint-Pieters-Leeuw · Eq €64,953
BELCONSTRUCT N.P.
BE 0861.918.343
Amay · Eq €64,946
PRO&PROJECT
BE 0801.732.219
Ukkel · Eq €65,074
ABELINOX
BE 0471.423.661
Chaudfontaine · Eq €65,120
Of 15,521 companies in sector 43990 we hold annual accounts for 7,420. 6,195 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
Founded02-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
41001General construction of residential buildings
41003General construction of other non-residential buildings
43120Site preparation
43230Insulation installation
43240Other construction installation
43310Plastering work
43320Joinery installation
43332Laying of wooden floor and wall coverings
43333Wallpapering and laying of floor and wall coverings in other materials
43341Painting of buildings
43350Other building finishing work
43421Specialised construction activities
43422Screed work
47711Retail sale of women's outerwear
47712Retail trade
47713Retail trade
47715Retail trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47722Retail trade
81220Other building cleaning and industrial cleaning
96210Hairdressing and barber services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0740659435
Also
9925:BE0740659435
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.