FBGM
ActiveSummary
FBGM has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €225,546 and a net result of €52,517. Equity is growing by about 21% per year across the filed financial years. Its solvency ranks better than 73% of 15,729 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00466580.
Turnover
≈ €54,000
Estimated: probably between €39,000 and €87,000
Total assets
€294,244▼ 12.2%
2024 · €335,319
Net result
€52,517▲ 64.3%
2024 · €31,965
Working capital
€45,248
2024 · -€1,212
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 23% above 2024 and is the highest 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.
Operating result€4,297
2025
Net result€52,517
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€294,244
2025
Equity€225,546
2025
Debt€68,698
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€45,248
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)17.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency76.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.45
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 69, Legal and accounting 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€11,177-€17,657▲ 58.0%-€14,623-€23,531▼ 60.9%-€15,602▲ 33.7%€3,484€4,297▲ 23.4%
Net result€44,794-€51,903within the sector's middle half▲ 15.9%€43,329within the sector's middle half▼ 16.5%€36,616within the sector's middle half▼ 15.5%€50,822within the sector's middle half▲ 38.8%€31,965within the sector's middle half▼ 37.1%€52,517within the sector's middle half▲ 64.3%
Equity€50,994-€102,897within the sector's middle half▲ 102%€146,227within the sector's middle half▲ 42.1%€182,843within the sector's middle half▲ 25.0%€224,314within the sector's middle half▲ 22.7%€173,029within the sector's middle half▼ 22.9%€225,546within the sector's middle half▲ 30.4%
Total assets€161,143-€236,985within the sector's middle half▲ 47.1%€229,018within the sector's middle half▼ 3.4%€231,102within the sector's middle half▲ 0.9%€244,599within the sector's middle half▲ 5.8%€335,319within the sector's middle half▲ 37.1%€294,244within the sector's middle half▼ 12.2%
Debt€110,149-€134,088▲ 21.7%€82,791▼ 38.3%€48,260▼ 41.7%€20,285▼ 58.0%€162,289▲ 700%€68,698▼ 57.7%
Working capital-€26,226--€4,906below the sector's middle half▲ 81.3%€10,471below the sector's middle half€29,275within the sector's middle half▲ 180%€64,439within the sector's middle half▲ 120%-€1,212below the sector's middle half€45,248within the sector's middle half
Solvency31.6%-43.4%within the sector's middle half▲ 11.8pp63.8%within the sector's middle half▲ 20.4pp79.1%above the sector's middle half▲ 15.3pp91.7%above the sector's middle half▲ 12.6pp51.6%within the sector's middle half▼ 40.1pp76.7%within the sector's middle half▲ 25.1pp
Current ratio0.53-0.93below the sector's middle half▲ 0.401.22below the sector's middle half▲ 0.291.76within the sector's middle half▲ 0.534.44within the sector's middle half▲ 2.680.99below the sector's middle half▼ 3.452.45within the sector's middle half▲ 1.46
Return on assets (ROA)27.8%-21.9%within the sector's middle half▼ 5.9pp18.9%within the sector's middle half▼ 3.0pp15.8%within the sector's middle half▼ 3.1pp20.8%within the sector's middle half▲ 4.9pp9.5%within the sector's middle half▼ 11.2pp17.8%within the sector's middle half▲ 8.3pp
above
within
below
the middle half of NACE 69, Legal and accounting 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.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €294,244
Fixed assets
€217,714 ▼ 2.4%
Current assets
€76,529 ▼ 31.8%
Equity and liabilities €294,244
Equity
€225,546 ▲ 30.4%
Debt
€68,698 ▼ 57.7%
Debt's share of the balance-sheet total falls from 48.4% to 23.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9,757▼
2024 · €10,049
Cash flow
€57,976▲
2024 · €38,530
Debt to equity
0.30▼
2024 · 0.94
ROE
23.3%▲
2024 · 18.5%
Interest coverage
3.05▼
2024 · 11.13
Debt ≤ 1 year
€31,281▼
2024 · €113,357
Debt > 1 year
€37,417▼
2024 · €48,932
Income taxes
€266▼
2024 · €289
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €10,645 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,545 | €7,090 | €9,706 | €9,847 | €3,602 | €6,566 | €5,460 | ▼ 16.8% |
| Other operating charges640/8 | - | - | €4,147 | €1,101 | €1,969 | €1,368 | €1,690 | ▲ 23.5% |
| Gross operating margin9900 | €13,948 | €29,169 | -€770 | -€12,583 | -€10,031 | €11,417 | €11,447 | ▲ 0.3% |
| Operating profit (loss)9901 | €11,177 | €17,657 | -€14,623 | -€23,531 | -€15,602 | €3,484 | €4,297 | ▲ 23.4% |
| Financial income75/76B | - | - | €60,000 | €62,634 | €68,217 | €29,673 | €51,687 | ▲ 74.2% |
| Recurring financial income75 | €37,250 | €42,511 | €60,000 | €62,634 | €68,217 | €29,673 | €51,687 | ▲ 74.2% |
| Financial charges65/66B | - | - | €1,622 | €1,887 | €1,308 | €903 | €3,202 | ▲ 255% |
| Recurring financial charges65 | €1,039 | €1,253 | €1,622 | €1,887 | €1,308 | €903 | €3,202 | ▲ 255% |
| Profit (loss) for the period before taxes9903 | €47,388 | €58,915 | €43,756 | €37,216 | €51,306 | €32,254 | €52,782 | ▲ 63.6% |
| Income taxes67/77 | €2,594 | €7,011 | €426 | €600 | €485 | €289 | €266 | ▼ 8.0% |
| Profit (loss) for the period9904 | €44,794 | €51,903 | €43,329 | €36,616 | €50,822 | €31,965 | €52,517 | ▲ 64.3% |
| Profit (loss) for the period to be appropriated9905 | €44,794 | €51,903 | €43,329 | €36,616 | €50,822 | €31,965 | €52,517 | ▲ 64.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €161,143 | €236,985 | €229,018 | €231,102 | €244,599 | €335,319 | €294,244 | ▼ 12.2% |
| Fixed assets21/28 | €131,291 | €170,171 | €171,216 | €163,099 | €161,406 | €223,174 | €217,714 | ▼ 2.4% |
| Tangible fixed assets22/27 | €3,909 | €42,789 | €33,084 | €24,967 | €23,274 | €16,709 | €11,249 | ▼ 32.7% |
| Furniture and vehicles24 | - | - | €30,858 | €23,012 | €21,589 | €15,293 | €10,104 | ▼ 33.9% |
| Other tangible fixed assets26 | - | - | €2,226 | €1,956 | €1,685 | €1,415 | €1,145 | ▼ 19.1% |
| Financial fixed assets28 | €127,382 | €127,382 | €138,132 | €138,132 | €138,132 | €206,465 | €206,465 | = |
| Current assets29/58 | €29,852 | €66,814 | €57,802 | €68,003 | €83,193 | €112,145 | €76,529 | ▼ 31.8% |
| Amounts receivable within one year40/41 | €14,340 | €23,884 | €24,229 | €25,541 | €63,535 | €87,307 | €67,950 | ▼ 22.2% |
| Trade receivables40 | - | - | €24,229 | €20,074 | €22,977 | €35,034 | €57,945 | ▲ 65.4% |
| Other amounts receivable41 | - | - | - | €5,467 | €40,558 | €52,273 | €10,005 | ▼ 80.9% |
| Cash at bank and in hand54/58 | €15,346 | €40,109 | €32,156 | €40,336 | €17,574 | €22,681 | €8,328 | ▼ 63.3% |
| Deferred charges and accrued income490/1 | - | - | €1,418 | €2,126 | €2,084 | €2,157 | €252 | ▼ 88.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €161,143 | €236,985 | €229,018 | €231,102 | €244,599 | €335,319 | €294,244 | ▼ 12.2% |
| Equity10/15 | €50,994 | €102,897 | €146,227 | €182,843 | €224,314 | €173,029 | €225,546 | ▲ 30.4% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | €6,200 | - | - | - | - | - |
| Other1109/19 | - | - | €6,200 | - | - | - | - | - |
| Reserves13 | €1,860 | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €42,934 | €94,837 | €138,167 | €174,783 | €203,854 | €152,569 | €205,086 | ▲ 34.4% |
| Amounts payable17/49 | €110,149 | €134,088 | €82,791 | €48,260 | €20,285 | €162,289 | €68,698 | ▼ 57.7% |
| Amounts payable after more than one year17 | €53,671 | €61,968 | €35,460 | €9,531 | €1,531 | €48,932 | €37,417 | ▼ 23.5% |
| Financial debts170/4 | - | - | €35,460 | €9,531 | €1,531 | €48,932 | €37,417 | ▼ 23.5% |
| Amounts payable within one year42/48 | €56,078 | €71,720 | €47,331 | €38,729 | €18,754 | €113,357 | €31,281 | ▼ 72.4% |
| Current portion of amounts payable after more than one year42 | - | - | €26,508 | €25,928 | €8,000 | €12,598 | €11,515 | ▼ 8.6% |
| Trade debts44 | €372 | €3,104 | €28 | €766 | €1,794 | €468 | €1,329 | ▲ 184% |
| Suppliers440/4 | - | - | €28 | €766 | €1,794 | €468 | €1,329 | ▲ 184% |
| Taxes, remuneration and social security45 | - | - | €19,227 | €12,034 | €8,960 | €20,291 | €18,436 | ▼ 9.1% |
| Taxes450/3 | - | - | €16,727 | €12,034 | €8,960 | €17,291 | €15,436 | ▼ 10.7% |
| Remuneration and social security454/9 | - | - | €2,500 | - | - | €3,000 | €3,000 | = |
| Other amounts payable47/48 | - | - | €1,568 | - | - | €80,000 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,794 | €51,903 | €43,329 | €36,616 | €50,822 | €31,965 | €52,517 | ▲ 64.3% |
| + Depreciation and write-downs630 | €1,545 | €7,090 | €9,706 | €9,847 | €3,602 | €6,566 | €5,460 | ▼ 16.8% |
| Operating cash flow (approximation) | €46,339 | €58,994 | €53,035 | €46,463 | €54,424 | €38,530 | €57,976 | ▲ 50.5% |
| Investment in fixed assets (approximation) | - | -€45,971 | -€10,750 | -€1,731 | -€1,909 | -€68,333 | €0 | - |
| Change in cash | - | €24,763 | -€7,953 | €8,180 | -€22,762 | €5,107 | -€14,353 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00466580 |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00411527 |
| 31-12-2023 | micro format | 07-10-2024 | 2024-00496229 |
| 31-12-2022 | micro format | 25-08-2023 | 2023-00353161 |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20345939 |
| 31-12-2020 | micro format | 29-08-2021 | 2021-59900123 |
| 31-12-2019 | micro format | 27-09-2020 | 2020-56300491 |
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Of the 12,107 active companies whose main activity is certified accountants and tax accountants (NACE 69201), figures are known for 7,755. 6,319 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.