Restructuring
2 restructurings since 2025. Latest: merger with MEDVIA.
2 restructurings since 2025. Latest: merger with MEDVIA.
Lower net result than 95% of companies in office administrative support. Sector median €20,953 · 2,830 companies.
EU support: Horizon Europe.
The dashed line is the sector median: 0.1% across 1,123 companies (NACE 82, small).
Fewer than 1 in 1,000 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 82, small). It does better than 49% of them on solvency, 31% on liquidity and 1% on profitability.
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 very low class on 30-06-2025, 0.1% 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, 1,683 companies had the same profile as FBM has now. Each dot stands for 5 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FBM itself is lower: < 0.1% within 12 months. It rests on far more data about FBM 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 1,683 companies, not a prediction for FBM. 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 ample, with a current ratio of 2.03, above the usual 1.5. Short-term debt is 41.6% and cash 9.8% of total assets. However, 59.2% 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.
| Company | ||||
|---|---|---|---|---|
| FBM Ghent | €1.4m | -36.8% | 40.8% | 14 |
| Agricotrans Léglise | €2.4m | 5.7% | 1.5% | 8.8 |
| Bier Central Anspach Brussels | - | - | 38.1% | 14.6 |
| AG REAL ESTATE COPRODUCTION IN DEVELOPMENT 2 Brussels | - | - | -54.6% | 9.1 |
| ACCESS SOLUTIONS BELGIUM Machelen (Brab.) | - | - | 54.7% | 5.3 |
| AdaptX Kontich | €2.5m | 6.1% | 16.4% | 11.4 |
| ART BLANC Waterloo | - | - | 2.7% | 8.6 |
Grey: the largest companies of the sector (office administrative support (NACE 82)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as FBM: other business support services (NACE 82990). They are comparable in size and age: total assets between €694,000 and €3m, founded between 2022 and 2024.
FBM has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €782,076 and a net result of -€503,079.
Its solvency ranks better than 50% of 2,828 sector peers (NACE 82, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 50% of 2,828 companies in 2025.
Higher than 63% of 2,718 companies in 2025.
Lower than 95% of 2,776 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter · Staff: top quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 22 people joined and 5 left.
| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
1.9m | |
20 |
121,457 | |
21/28 |
179,058 | |
21 |
62,869 | |
22/27 |
116,189 | |
23 |
2,921 | |
24 |
113,268 | |
29/58 |
1.6m | |
40/41 |
467,549 | |
40 |
373,748 | |
41 |
93,801 | |
50/53 |
300,866 | |
54/58 |
187,124 | |
490/1 |
660,607 | |
| Balance sheet: equity and liabilities | ||
10/49 |
1.9m | |
10/15 |
782,076 | |
13 |
436,091 | |
14 |
345,985 | |
17/49 |
1.1m | |
17 |
49,429 | |
170/4 |
49,429 | |
42/48 |
797,303 | |
42 |
19,668 | |
44 |
575,645 | |
440/4 |
575,645 | |
45 |
186,997 | |
450/3 |
1,609 | |
454/9 |
185,388 | |
47/48 |
14,993 | |
492/3 |
287,853 | |
| Income statement | ||
70 |
1.4m | |
73 |
2.3m | |
76A |
2,278 | |
9900 |
1.2m | |
60/61 |
2.5m | |
62 |
1.6m | |
630 |
108,240 | |
640/8 |
3,180 | |
9901 |
-498,556 | |
75/76B |
10,181 | |
75 |
10,181 | |
65/66B |
12,470 | |
65 |
12,470 | |
9903 |
-500,845 | |
67/77 |
2,234 | |
9904 |
-503,079 | |
9905 |
-503,079 | |
| Appropriation of the result | ||
9906 |
-503,079 | |
791 |
849,064 | |
| Social balance sheet | ||
9087 |
14 | |
Hours worked1013 |
19,143 | |
| Document | ||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 27-05-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-05-2026 | 2026-00122619 |
| Line | Trend | 2025 |
|---|---|---|
| -390,316 | ||
| -394,839 | ||
| 43,624 | ||
| 818,843 | ||
| -36.8% | ||
| 40.8% | ||
| 2.03 | ||
| 1.45 | ||
| -64.3% | ||
| -26.2% | ||
| -31.30 | ||
| 101 days | ||
| 84 days |
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 | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 17 |
| full-time | 10 |
| part-time | 7 |
| in full-time equivalents | 15.4 |
| 14 | |
| On a permanent contract | 17 |
| Joined | 22 |
| Left | 5 |
Source: social balance sheet in the 2025 annual accounts
| Item | 2025 |
|---|---|
| Tangible fixed assets | €28,583 |
| Intangible fixed assets | €15,041 |
| €108,240 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Debt's share of the balance-sheet total is 59.2%.
4 other companies of this director went bankrupt (2023, 2025, 2026) and 1 was judicially dissolved (2025).
1 other company of this director went bankrupt (2025).
1 other company of this director was struck off by the FPS Economy (2024).
1 other company of this director was struck off by the FPS Economy (2024).
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it.
FBM has no parent and no holdings in its annual accounts.
| Transnubel via Studiecentrum voor Kernenergie - Centre d'Etude de l'Energie Nucléaire, no longer at Transnubel · Director · deed of 15-10-2021 founded in 1969 · negative equity (2025) · group ENGIE |
248 FTE (2025) |
| ASPECT ANALYTICS via Heran Partners, no longer at ASPECT ANALYTICS · Director · deed of 19-09-2025 founded in 2018 |
5.7 FTE (2025) |
| INTERGEMEENTELIJKE VERENIGING VOOR BEHEER VAN AFVALSTOFFEN VLAAMSE ARDENNEN via Tom Aelbrecht, no longer at INTERGEMEENTELIJKE VERENIGING VOOR BEHEER VAN AFVALSTOFFEN VLAAMSE ARDENNEN · Director · deed of 03-01-2020 founded in 1986 |
4 FTE (2025) |
| Catalisti via Janssen Pharmaceutica (no longer at Catalisti) and Katholieke Universiteit te Leuven (no longer at Catalisti) · Director · deeds of 02-12-2021 and 23-12-2011 founded in 2011 |
9.2 FTE (2025) |
| DE WOLKAMMERIJ via Janssen Pharmaceutica, no longer at DE WOLKAMMERIJ · Director · deed of 18-10-2022 founded in 2001 |
total assets €1.4m (2025) |
| PALLIATIEF NETWERK ARRONDISSEMENT LEUVEN via Katholieke Universiteit te Leuven, no longer at PALLIATIEF NETWERK ARRONDISSEMENT LEUVEN · Director · deed of 14-11-2023 founded in 1995 |
13 FTE (2025) |
| PERSOMED via QbD Group, no longer at PERSOMED · Director · deed of 11-04-2023 No longer active |
total assets €16,271 (2023) |
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
FBM was incorporated on 29 November 2024 as a non-profit association by FLANDERS.BIO VZW and MEDVIA VZW.12 In 2025 the company absorbed FLANDERS.BIO and MEDVIA by merger.34 The board currently has 25 members.5
“Bedrijven en onderzoeksinstellingen met actieve R&D- en/of Support - en/of productieactiviteiten in Vlaanderen in de Biotech en HealthTech domeinen,met inbegrip van Biopharma,Animal Health,Agrotech,Medtech,Digital Health e.a.,te verenigen en te ondersteunen.”
| Establishment | Since | Unit number |
|---|---|---|
| Sint-Michielsstraat 18 registered office 9000 Ghent | ||
| Stapelplein 70 9000 Ghent 94110 Activities of business and employers' organisations | 18-02-2025 | 2.370.455.316 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44021A2756/02F002 | 4,237 m² | 1 · 1,979 m² | 21.2 m · 5 |
| 44815F1325/00D000 | 334 m² | 1 · 334 m² | 22.6 m · 5 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.
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