Equity
Equity fell by 62% in 3 years.
Equity fell by 62% in 3 years.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
The abbreviated format states no turnover.
€121,231 of the debts are secured on the company's own assets. In 2024 that was €140,598.
A director left. Latest change 09-01-2026 · 1 in office.
Lower net result than 92% of companies in advertising and market research. Sector median €16,334 · 2,093 companies.
The dashed line is the sector median: 0.2% across 11,228 companies (NACE 73, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 73, micro). It does better than 32% of them on solvency, 19% on liquidity, 13% on profitability and 19% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 122 companies had the same profile as FA Consultancy has now. Each dot is one company, two years later.
Another 3.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FA Consultancy itself is lower: 1.0% within 12 months. It rests on far more data about FA Consultancy than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 122 companies, not a prediction for FA Consultancy. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.92 (0.85 in 2024), below 1. Short-term debt is 46.1% and cash 5.6% of total assets. 72.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 6 accounts on average 11 days before the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
Shares in 1 company, SUPERIOR PRODUCTS EUROPE
Board & ownership| Company | ||||
|---|---|---|---|---|
| FA Consultancy Zoersel | €507,741 | €110,134 | 27.2% | 0 |
| ESTORNUDO Koksijde | €497,395 | €142,988 | 46.9% | 0 |
| MSA Holding - Architectes Ixelles | €433,558 | €162,685 | 73.2% | 0 |
| Javema Antwerp | €271,755 | €162,326 | 55.7% | 0 |
| STARTVENTURE Tervuren | €401,710 | €57,673 | 33.4% | 0 |
| ISTIJD Zulte | €501,612 | €130,969 | 50.4% | 1 |
| TribeAffair Nazareth-De Pinte | €730,104 | €169,156 | 40.9% | 0.7 |
These companies have the same main activity as FA Consultancy: public relations and communication consultancy (NACE 73300). They are comparable in size and age: total assets between €272,000 and €730,000, founded between 2017 and 2019.
FA Consultancy files the abbreviated format. That format states no turnover. The gross margin fell from €292,592 in 2020 to €110,134 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €200,000. Estimated: probably between €150,000 and €400,000.
Higher than 35% of 2,094 companies in 2025.
Higher than 27% of 2,010 companies in 2025.
Higher than 11% of 2,053 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter · Staff: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
507,741 | 770,111 | 783,168 | 562,531 | 595,130 | 368,115 | |
21/28 |
292,416 | 498,779 | 543,547 | 183,145 | 223,509 | 128,897 | |
22/27 |
54,916 | 236,279 | 293,547 | 183,145 | 223,509 | 128,897 | |
23 |
278 | 539 | 801 | 1,062 | - | - | |
24 |
2,409 | 37,183 | 47,566 | 7,408 | 6,803 | 10,234 | |
25 |
46,456 | 163,749 | 206,211 | 126,847 | 169,414 | - | |
26 |
5,773 | 34,808 | 38,970 | 43,131 | 47,292 | 39,953 | |
27 |
- | - | 0 | 4,696 | - | - | |
28 |
237,500 | 262,500 | 250,000 | - | - | - | |
29/58 |
215,325 | 271,331 | 239,620 | 379,386 | 371,621 | 239,218 | |
29 |
- | - | 0 | 126,821 | 123,461 | 120,101 | |
290 |
- | - | - | - | 123,461 | - | |
291 |
- | - | 0 | 126,821 | - | 120,101 | |
40/41 |
178,868 | 242,462 | 195,386 | 188,354 | 158,697 | 95,634 | |
40 |
169,612 | 232,535 | 194,786 | 175,032 | 157,930 | 66,109 | |
41 |
9,255 | 9,927 | 600 | 13,322 | 767 | 29,525 | |
54/58 |
28,513 | 9,884 | 32,446 | 55,202 | 80,746 | 18,104 | |
490/1 |
7,945 | 18,985 | 11,788 | 9,008 | 8,718 | 5,380 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
507,741 | 770,111 | 783,168 | 562,531 | 595,130 | 368,115 | |
10/15 |
138,238 | 202,872 | 241,611 | 366,788 | 320,798 | 172,569 | |
10/11 |
6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |
13 |
132,238 | 196,872 | 235,611 | 360,788 | 314,798 | 166,569 | |
133 |
132,238 | 196,872 | 235,611 | 360,788 | 314,798 | 166,569 | |
14 |
- | 0 | 0 | - | - | - | |
17/49 |
369,503 | 567,239 | 541,556 | 195,742 | 274,332 | 195,546 | |
17 |
133,175 | 246,225 | 133,756 | 72,145 | 120,522 | 52,276 | |
170/4 |
133,175 | 246,225 | 133,756 | 72,145 | 120,522 | 52,276 | |
42/48 |
234,269 | 318,953 | 407,800 | 123,598 | 153,810 | 143,271 | |
42 |
35,315 | 64,923 | 307,238 | 65,956 | 57,727 | 50,738 | |
43 |
454 | 956 | - | - | - | - | |
430/8 |
454 | 956 | - | - | - | - | |
44 |
68,813 | 27,428 | 20,830 | 11,437 | 51,126 | 27,559 | |
440/4 |
68,813 | 27,428 | 20,830 | 11,437 | 51,126 | 27,559 | |
45 |
30,603 | 7,323 | 57,077 | 39,580 | 38,679 | 62,721 | |
450/3 |
30,603 | 7,323 | 57,077 | 39,580 | 38,679 | 58,721 | |
454/9 |
- | - | - | - | 0 | 4,000 | |
47/48 |
99,084 | 218,323 | 22,655 | 6,626 | 6,279 | 2,253 | |
492/3 |
2,059 | 2,061 | - | - | - | - | |
| Income statement | |||||||
76A |
8,429 | 0 | 4,899 | 0 | 2,235 | - | |
9900 |
110,134 | 70,005 | 86,602 | 121,534 | 232,444 | 292,592 | |
630 |
17,023 | 55,744 | 38,560 | 50,522 | 25,585 | 37,806 | |
631/4 |
103,847 | 15,000 | - | - | - | - | |
640/8 |
4,429 | 7,217 | 10,279 | 8,939 | 8,779 | 12,947 | |
66A |
24,459 | 15,945 | - | 0 | 1,788 | - | |
9901 |
-39,624 | -23,901 | 37,763 | 62,073 | 196,291 | 241,839 | |
75/76B |
9 | 0 | 1,400 | 3,360 | 3,360 | 113 | |
75 |
9 | 0 | 1,400 | 3,360 | 3,360 | 113 | |
65/66B |
24,423 | 14,094 | 3,353 | 2,737 | 2,055 | 2,603 | |
65 |
11,923 | 14,094 | 3,353 | 2,737 | 2,055 | 2,603 | |
66B |
12,500 | - | - | - | - | - | |
9903 |
-64,038 | -37,995 | 35,810 | 62,696 | 197,597 | 239,349 | |
67/77 |
596 | 745 | 9,987 | 16,705 | 49,368 | 72,780 | |
9904 |
-64,634 | -38,740 | 25,823 | 45,991 | 148,229 | 166,569 | |
9905 |
-64,634 | -38,740 | 25,823 | 45,991 | 148,229 | 166,569 | |
| Appropriation of the result | |||||||
9906 |
-64,634 | -38,740 | 25,823 | 45,991 | 148,229 | 166,569 | |
791/2 |
64,634 | 38,740 | 151,000 | - | - | - | |
691/2 |
- | 0 | 25,823 | 45,991 | 148,229 | 166,569 | |
6921 |
- | 0 | 25,823 | 45,991 | 148,229 | 166,569 | |
694/7 |
- | 0 | 151,000 | - | - | - | |
694 |
- | 0 | 151,000 | - | - | - | |
| Social balance sheet | |||||||
9087 |
0 | 0 | 0 | - | - | - | |
| Document | |||||||
The notes to these accounts have 23 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 08-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 08-07-2026 | 2026-00267624 | |
| 31-12-2024 | abbreviated format | 31-07-2025 | 2025-00338180 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00311072 | |
| 31-12-2022 | abbreviated format | 10-06-2023 | 2023-00117736 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20368047 | |
| 31-12-2020 | abbreviated format | 07-07-2021 | 2021-33000427 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| -22,601 | 31,843 | 76,323 | 112,595 | 221,876 | 279,645 | ||
| -47,611 | 17,005 | 64,383 | 96,513 | 173,814 | 204,375 | ||
| 16,981 | 88,470 | 428,096 | 10,158 | 143,797 | 187,713 | ||
| 18,629 | -22,562 | -22,757 | -25,544 | 62,642 | - | ||
| -18,944 | -47,622 | -168,179 | 255,788 | 217,811 | 95,948 | ||
| 27.2% | 26.3% | 30.9% | 65.2% | 53.9% | 46.9% | ||
| 0.92 | 0.85 | 0.59 | 3.07 | 2.42 | 1.67 | ||
| 2.67 | 2.80 | 2.24 | 0.53 | 0.86 | 1.13 | ||
| -46.8% | -19.1% | 10.7% | 12.5% | 46.2% | 96.5% | ||
| -12.7% | -5.0% | 3.3% | 8.2% | 24.9% | 45.2% | ||
| -1.90 | 2.26 | 22.76 | 41.14 | over 100 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €121,231 | €140,598 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,481 | €75,970 | €178,096 | €10,158 | €143,797 |
| Financial fixed assets | €12,500 | €12,500 | €250,000 | - | - |
| €17,023 | €55,744 | €38,560 | €50,522 | €25,585 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €39,624, larger than the loss of €23,901 in 2024. It is the lowest result since 2020.
Debt's share of the balance-sheet total falls from 73.7% to 72.8%. Equity and debt are lower.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| SUPERIOR PRODUCTS EUROPE
registered office since 19-11-1997 · founded in 1997 |
total assets €162,553 (2025) 0461.876.287 |
| Van Winghem, Michiel (sole trader)
establishment since 01-07-2023 |
founded in 2023 0766.796.282 |
| Verlinden, Yolanda (sole trader)
establishment since 01-01-2020 |
founded in 2020 0739.603.620 |
| EIB Specialty Services via VERSTRAETEN Franky, no longer at EIB Specialty Services · Director · deed of 07-02-2020 Open bankruptcy · founded in 2006 |
6.8 FTE (2023) |
| Bichette via KLOECK Ann Raymond Hermine, at FA Consultancy until 2026 · Director (not named in the articles) · deed of 15-03-2024 Open bankruptcy · founded in 2014 |
4 FTE (2024) |
| Name | 2023 | 2024 | 2025 |
|---|---|---|---|
| SUPERIOR PRODUCTS EUROPE | 100% | ||
| Heattracer | 10% | ||
Source: list of holdings in its own accounts
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
FA Consultancy was incorporated on 23 May 2019 as a private limited company.1 The registered office was moved to Zoersel in 2026.2 Since 2019, VERSTRAETEN Franky has served as director.3 Total assets rose from €368,115 in 2020 to €507,741 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Handelslei 9 registered office 2980 Zoersel | 23-05-2019 | 2.289.844.257 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11453I1451/00A000 | 1.2 ha | 1 · 1,336 m² | 18.3 m |
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