FAS DEVELOPMENT
ActiveFrom the official registers: KBO 28 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
FAS DEVELOPMENT has been active since 1997 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €77,862 and a net result of €6,587. Equity is growing by about 33% per year across the filed financial years. Its solvency ranks better than 29% of 2,073 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Official details
KBO- Status
- Active since 25-03-1997 Normal situation
- Legal form
- Private limited company
- Registered office
- Jean en Pierre Carsoellaan 50, 1180 Ukkel
- Activity
- Market research and public opinion polling NACE 73200and 2 others
- Establishment unit
- 2.081.299.603 1180 Ukkel, since 08-04-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 22-03-2026
Who decides
- BEUSELINCK FrankDirector
- Frank BEUSELINCKannual accounts 2017
- Sylviane BEUSELINCKannual accounts 2017
- Holdings
- Shares in 2 companies JFS AMERICA LTD and Sinep
How it is doing
- Bankruptcy probabilitywithin 12 months
- 0.6%
- Gross margin
- €3,010
- ▼ 35.0%
- Turnover
- ≈ €17,000
- estimated
- Profit
- €6,587
- ▲ 162%
- Equity
- €77,862
- ▲ 9.2%
- Total assets
- €380,576
- ▼ 12.6%
Why 69raises riskLiquidity: current ratio 0.01, cash €450, halved1 of the last 3 latelowers riskFounded in 1997Size: total assets €380,576Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 73, micro): better than 27% on solvency, 6% on liquidity, 41% on profitability and 59% on growth.
The bankruptcy probability was computed on 31-10-2026 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).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 29 days after the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, abbreviated format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 27-07-2026
- Format
- abbreviated format
- Reference
- 2026-00349785
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen three years in a row; 2025 is 88% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,545 | €1,484 | €968 | €1,238 | €1,414 | €1,414 | €186 | €401 | ▲ 115% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €28,640 | - | - | €900 | €2,200 | ▲ 144% |
| Other operating charges640/8 | - | - | - | €2,500 | €318 | €187 | - | - | - |
| Gross operating margin9900 | €27,937 | €24,529 | €24,613 | €37,556 | €32,170 | €8,230 | €4,631 | €3,010 | ▼ 35.0% |
| Operating profit (loss)9901 | €23,126 | €20,603 | -€3,842 | €5,178 | €30,439 | €6,629 | €3,544 | €409 | ▼ 88.4% |
| Financial income75/76B | - | - | - | - | €6 | €114,527 | - | €6,471 | - |
| Recurring financial income75 | €810 | €834 | €3 | - | €6 | €114,527 | - | €6,471 | - |
| Non-recurring financial income76B | - | - | - | - | - | €114,527 | - | - | - |
| Financial charges65/66B | - | - | - | €1,583 | €6,263 | €73 | €74 | €77 | ▲ 4.2% |
| Recurring financial charges65 | €1,023 | €1,438 | €65 | €1,583 | €6,263 | €73 | €74 | €77 | ▲ 4.2% |
| Profit (loss) for the period before taxes9903 | €22,913 | €19,999 | -€3,904 | €3,595 | €24,182 | €121,084 | €3,471 | €6,804 | ▲ 96.0% |
| Income taxes67/77 | €5,618 | €1,907 | €765 | €1,074 | €306 | €1,891 | €957 | €217 | ▼ 77.3% |
| Profit (loss) for the period9904 | €17,295 | €18,092 | -€4,669 | €2,521 | €23,876 | €119,193 | €2,514 | €6,587 | ▲ 162% |
| Profit (loss) for the period to be appropriated9905 | €17,295 | €18,092 | -€4,669 | €2,521 | €23,876 | €119,193 | €2,514 | €6,587 | ▲ 162% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €576,688 | €576,846 | €551,905 | €525,031 | €535,626 | €478,006 | €435,256 | €380,576 | ▼ 12.6% |
| Fixed assets21/28 | €519,971 | €521,394 | €520,426 | €521,685 | €511,924 | €378,010 | €379,427 | €379,026 | ▼ 0.1% |
| Intangible fixed assets21 | - | €2,325 | €1,744 | €1,162 | €581 | - | - | - | - |
| Tangible fixed assets22/27 | €1,289 | €386 | - | €1,841 | €1,008 | €175 | €1,592 | €1,191 | ▼ 25.2% |
| Furniture and vehicles24 | - | - | - | €1,841 | €1,008 | €175 | €1,592 | €1,191 | ▼ 25.2% |
| Financial fixed assets28 | €518,682 | €518,682 | €518,682 | €518,682 | €510,335 | €377,835 | €377,835 | €377,835 | = |
| Current assets29/58 | €56,717 | €55,453 | €31,479 | €3,345 | €23,702 | €99,995 | €55,829 | €1,550 | ▼ 97.2% |
| Amounts receivable within one year40/41 | €52,806 | €53,640 | €31,340 | - | €21,917 | €4,200 | €3,843 | €1,100 | ▼ 71.4% |
| Trade receivables40 | - | - | - | - | €1,800 | €4,200 | €3,300 | €1,100 | ▼ 66.7% |
| Other amounts receivable41 | - | - | - | - | €20,117 | - | €543 | - | - |
| Cash at bank and in hand54/58 | €3,911 | €1,813 | €139 | €3,345 | €1,785 | €95,795 | €51,985 | €450 | ▼ 99.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €576,688 | €576,846 | €551,905 | €525,031 | €535,626 | €478,006 | €435,256 | €380,576 | ▼ 12.6% |
| Equity10/15 | -€90,252 | -€72,160 | -€76,829 | -€74,308 | -€50,432 | €68,761 | €71,275 | €77,862 | ▲ 9.2% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | €18,592 | - | - | - | - | - |
| Issued capital100 | - | - | - | €18,592 | - | - | - | - | - |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Legal reserve130 | - | - | - | €1,859 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€110,703 | -€92,611 | -€97,280 | -€94,759 | -€70,883 | €48,310 | €50,824 | €57,410 | ▲ 13.0% |
| Amounts payable17/49 | €666,940 | €649,006 | €628,735 | €599,339 | €586,058 | €409,245 | €363,981 | €302,714 | ▼ 16.8% |
| Amounts payable within one year42/48 | €666,940 | €649,006 | €628,735 | €599,339 | €586,058 | €409,245 | €363,981 | €302,714 | ▼ 16.8% |
| Trade debts44 | €500 | - | - | - | - | €384 | €2,395 | - | - |
| Suppliers440/4 | - | - | - | - | - | €384 | €2,395 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,074 | €1,380 | €1,891 | - | €217 | - |
| Taxes450/3 | - | - | - | €1,074 | €1,380 | €1,891 | - | €217 | - |
| Other amounts payable47/48 | - | - | - | €598,265 | €584,678 | €406,969 | €361,586 | €302,497 | ▼ 16.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,295 | €18,092 | -€4,669 | €2,521 | €23,876 | €119,193 | €2,514 | €6,587 | ▲ 162% |
| + Depreciation and write-downs630 | €1,545 | €1,484 | €968 | €1,238 | €1,414 | €1,414 | €186 | €401 | ▲ 115% |
| Operating cash flow (approximation) | €18,840 | €19,576 | -€3,702 | €3,760 | €25,290 | €120,607 | €2,700 | €6,987 | ▲ 159% |
| Investment in fixed assets (approximation) | - | -€2,906 | €0 | -€2,498 | €8,348 | €132,500 | -€1,603 | €0 | - |
| Change in cash | - | -€2,098 | -€1,673 | €3,206 | -€1,561 | €94,011 | -€43,810 | -€51,536 | ▼ 17.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-07-2026 | 2026-00349785 | NBB |
| 31-12-2024 | full format | 07-07-2025 | 2025-00250117 | |
| 31-12-2023 | full format | 23-09-2024 | 2024-00470700 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00433197 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20394874 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-59600239 | |
| 31-12-2019 | micro format | 28-10-2020 | 2020-65200498 | |
| 31-12-2018 | micro format | 11-09-2019 | 2019-64000473 | |
| 31-12-2017 | micro format | 24-08-2018 | 2018-49400357 | |
| 31-12-2016 | micro format | 28-08-2017 | 2017-48900183 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BEUSELINCK Frank |
|
How the board is organised
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 14. Rémunération des administrateurs L’assemblée générale décide si le mandat d’administrateur est ou non exercé gratuitement. Si le…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Un ou plusieurs administrateurs, assemblée fixe nombre et durée mandat”“Représentation voyages déplacements, fixe ou proportionnelle”
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Formes prévues pour modifications aux statuts, assemblée générale”
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed
Articles of association, deed of 13-12-2023
Owners and capital
Owners
2 ownersOwners 2
- Frank BEUSELINCKnatural personSourceown accounts 2017share not stated
- Sylviane BEUSELINCKnatural personSourceown accounts 2017share not stated
Capital and shareholders
- 13-12-2023 Converted to unavailable equity · €20,451
Shares according to the articles of association
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Moitié cédant,moitié acquéreurs proportionnel nombre actions, entre vifs ou mort sans agrément à actionnaire,conjoint…”
- Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
- Other provision: “Mise en conformité avec le Code des sociétés et des associations, mettre ses statuts en conformité à l’occasion de la première modification…”Other provision: “Les actions doivent être entièrement libérées à leur émission, appels de fonds”Other provision: “Apport en numéraire avec émission de nouvelles actions – droit de préférence, portés à la connaissance par courrier électronique,ou par…”Other provision: “Compte de capitaux propres statutairement disponible, apports inscrits sur compte disponible susceptible de distribution”Other provision: “Nominatives, nature des actions”Other provision: “Nominatifs, nature des autres titres”Other provision: “Pouvoir d'administration interne, totalité pouvoirs”Other provision: “Assemblée générale par procédure écrite, acte authentique”Other provision: “Admission assemblee generale, inscrit en cette qualité dans registre des titres nominatifs relatif à sa catégorie”Other provision: “Seances_proces-verbaux, registre tenu au siège consignant décisions assemblée générale ou actionnaire unique”Other provision: “Chaque action donne droit à une voix, deliberations vote”Other provision: “Organe d'administration, toute assemblée générale ordinaire ou extraordinaire”Other provision: “Repartition reserves, bénéfice exercice en cours ou exercice précédent tant que comptes annuels non approuvés”Liquidation distribution: “Après apurement dettes,charges et frais liquidation ou consignation montants nécessaires, actif net réparti entre tous actionnaires en…”Other provision: “Toutes communications,sommations,assignations,significations valablement faites, exécution des statuts”Other provision: “Competence judiciaire, tout litige entre société,actionnaires,administrateurs,commissaires et liquidateurs relatifs affaires société et…”Other provision: “Code des sociétés et des associations, droit commun”1 more provision in the deed, see the deed of 13-12-2023
Articles of association, deed of 13-12-2023 (in French)
Group and network
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- JFS AMERICA LTDUSsubsidiaryEquity -€69,919Result -€12,697100%
- SinepsubsidiaryEquity €625,733Result €23,220100%
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
13-12
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsLegal-form conversion · Capital conversion · Capital7 facts ▸
- Legal-form conversion, “société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Other provision, “limitation du compte de capitaux propres statutairement indisponible, disponible pour distribution” (deed in French)
- Amendment of the articles
- Capital
- Director in office, BEUSELINCK Frank (director)
- Power of attorney (2 times)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Prester tous services,formations et conseils au sens le plus large du terme à toutes professions et entreprises de quelque nature qu’elles…”
17 activities
- Prester tous services,formations et conseils au sens le plus large du terme à toutes professions et entreprises de quelque nature qu’elles soient entre autre dans le domaine administratif,commercial,financier,de gestion,de management et d’organisation d’entreprises.
- Le courtage ainsi que toutes opérations d’intermédiaires concernant les biens meubles et immeubles.
- Le transport maritime,aérien,terrestre,le shipping,le forwarding,le groupage et le stockage,l’affrètement,la gérance et l’exploitation des navires et tous moyens de transport,l’assurance,les changes,le voyage et le tourisme et toutes agences ou représentation des différentes affaires susmentionnées.
- Le commerce,l’importation,l’exportation,la commande,l’achat,la vente,la commission,la diffusion et l’introduction dans les marchés,le transport,le transit,l’emballage et le dépôt de diverses marchandises,outillages,productions,fabrications de matières premières.
- Tous travaux d’études,d’engineering,de gérance,de participation dans tout genre d’adjudication,d’entreprise et d’exécution de différents projets.
- La réalisation,la création,la présentation,l’exploitation de tous spectacles de comédie,de concerts,et d’une manière générale de toutes formes quelconques de spectacles.
- L’achat,la vente,le commissionnage et la représentation de tous biens généralement quelconques.
- L’acquisition,l’aliénation et la possession de participations dans des entreprises belges et étrangères.
- L’achat,la construction,la transformation,l’aménagement,la location,la sous location,l’exploitation directe ou en règle l’échange,la vente et en général,tout ce qui se rattache directement ou indirectement à la mise en valeur de toutes propriétés immobilières,bâties ou non bâties,de biens meubles corporels,de valeurs portefeuille.
- La société peut accepter et exercer un mandat d’administrateur dans toutes sociétés,quel qu’en soit son objet.
- Toute activité de holding et notamment acheter,vendre toutes valeurs mobilière.
- Elle peut accomplir toutes opérations généralement quelconques et notamment,industrielles ou commerciales,immobilières ou mobilières se rapportant directement ou indirectement,à son objet et notamment s’intéresser par tous moyens par voie d’association,de souscription,de participation,d’acquisition,de cession d’apport et de fusion ou autrement dans toutes sociétés ou entreprises existantes ou à créer,en Belgique ou à l’étranger,et dont l’objet serait analogue ou connexe au sien,ou qui serait de nature à favoriser le développement de son activité dans le cadre de son objet.
- La société peut constituer toute hypothèque ou toute autre sureté réelle sur les biens sociaux ou se porter caution au profit de tiers.
- Elle peut s'intéresser par toutes voies à toute société ou entreprise ayant un objet similaire ou connexe au sien ou dont l'objet serait de nature à faciliter,même indirectement,la réalisation du sien.
- Elle peut de même conclure toutes conventions de collaboration,de rationalisation,d'association ou autres avec de telles sociétés ou entreprises.
- Elle peut se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société,liée ou non.
- Elle peut exercer les fonctions d'administrateur,gérant et liquidateur.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- FAS DEVELOPPEMENT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, transférable en tout endroit de la Région de Bruxelles-Capitale ou de la Région wallonne par simple décision…”
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Tuesday of May at 18:00
Articles of association, deed of 13-12-2023 (in French)
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21612D0081/00W000 | Brussels | 263 m² | 1 · 72 m² | 12.2 m · 3 |