FC2
ActiveSummary
FC2 has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€7,408) and a net result of -€10,447. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 5% of 11,775 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-12-2021 Normal situation
- Activity
- Activities of building architects NACE 71111
- Establishment unit
- 2.325.264.006 5300 Andenne, since 09-12-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 26-03-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.1%
Annual accounts 2025
- Gross margin
- -€176
- Loss
- €10,447
- Equity
- -€7,408
- Total assets
- €6,046
- ▼ 67.1%
- Negative equity on 31-12-2025
- 2025 accounts filed 63 days after the deadline
Turnover not published (micro format)
Score breakdownraises riskCapped at 59: negative equityLast filed accounts filed 63 days late; 1 of the last 3 accounts lateNegative equity -€7,408lowers riskSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Size: total assets €6,046Show the evidence
Checked score
Score 2025
52
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 3% of micro companies in architecture and engineering (NACE 71)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency
0-42
equity -122.5% of total assets
Liquidity
3-51
short-term debt 222.5% · cash 2.3%
Profitability
0-100
return on assets -172.8%
Bankruptcy probability within 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.4%▲ +0.1 percentage points vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.1%▼ -0.3 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025lowest value
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: 0.3%▲ +0.1 percentage points vs 08-2026
10-2026: 1.1%▲ +0.8 percentage points vs 09-2026highest value
11-2026: 1.1%● unchanged vs 10-2026highest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.37 (1.13 in 2024), below 1. Short-term debt is 222.5% and cash 2.3% of total assets. Equity is negative.
Calculation
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 71, micro). It does better than 3% of them on solvency, 3% on liquidity, 4% on profitability and 1% on growth.
The bankruptcy probability was computed on 04-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
22232425
2022 to 2025 · latest year -€7,408
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-10-2026, 63 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 4 filingsDeviation from the deadline
2025
63 days late
2024
45 days early
2023
172 days early
2022
18 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 43 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 June (3 of the last 4 accounts filed within 94 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 63 days after the deadline Filed on 2 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00542952.
Annual accounts 2025 filed on 02-10-2026 at the NBB all 4 filings
Equity
-€7,408
2024 · €3,039
Total assets
€6,046▼ 67.1%
2024 · €18,386
Net result
-€10,447
2024 · €13,760
Working capital
-€8,459
2024 · €1,998
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
-€10,271
2025
20222025
Net result
-€10,447
2025
lowest quarter of the sector
20222025
Equity
-€7,408
2025
lowest quarter of the sector
20222025
Total assets
€6,046
▼ 67.1%
2025
lowest quarter of the sector
20222025
Debt
€13,454
▼ 12.3%
2025
20222025
Working capital
-€8,459
2025
lowest quarter of the sector
20222025
Solvency
-122.5%
▼ 139.1pp
2025
lowest quarter of the sector
20222025
Current ratio
0.37
▼ 0.76
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
-172.8%
▼ 247.6pp
2025
lowest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€2,048--€12,234€19,134-€10,271
Net result-€2,133below the sector's middle half--€14,588below the sector's middle half▼ 584%€13,760within the sector's middle half-€10,447below the sector's middle half
Equity€3,867below the sector's middle half--€10,721below the sector's middle half€3,039below the sector's middle half-€7,408below the sector's middle half
Total assets€31,097below the sector's middle half-€26,270below the sector's middle half▼ 15.5%€18,386below the sector's middle half▼ 30.0%€6,046below the sector's middle half▼ 67.1%
Debt€27,230-€36,991▲ 35.8%€15,347▼ 58.5%€13,454▼ 12.3%
Working capital€2,435below the sector's middle half--€12,421below the sector's middle half€1,998below the sector's middle half-€8,459below the sector's middle half
Solvency12.4%below the sector's middle half--40.8%below the sector's middle half▼ 53.2pp16.5%below the sector's middle half▲ 57.3pp-122.5%below the sector's middle half▼ 139.1pp
Current ratio1.09below the sector's middle half-0.66below the sector's middle half▼ 0.431.13below the sector's middle half▲ 0.470.37below the sector's middle half▼ 0.76
Return on assets (ROA)-6.9%below the sector's middle half--55.5%below the sector's middle half▼ 48.7pp74.8%above the sector's middle half▲ 130.4pp-172.8%below the sector's middle half▼ 247.6pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €10,271, after a profit of €19,134 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5,889
Fixed assets
€893 ▲ 18.5%
Current assets
€4,995 ▼ 71.1%
Equity and liabilities
Equity-€7,408
Debt€13,454
Equity is negative. Debt (€13,454) exceeds the balance-sheet total (€6,046).
Key figures and ratios
EBITDA
-€2,527▼
2024 · €19,755
Cash flow
-€2,703▼
2024 · €14,381
Interest coverage
-33.79▼
2024 · 20.19
Debt ≤ 1 year
€13,454▼
2024 · €15,310
Income taxes
€208▼
2024 · €4,397
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €873 | €702 | - | €7,716 |
| Depreciation and write-downs of the year | €282 | €435 | €621 | €7,744 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €282 | €435 | €621 | €7,744 | ▲ 12× |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €1,016 | - |
| Other operating charges640/8 | €5,283 | €1,748 | €2,093 | €1,335 | ▼ 36.2% |
| Gross operating margin9900 | €7,613 | -€10,052 | €21,848 | -€176 | - |
| Operating profit (loss)9901 | €2,048 | -€12,234 | €19,134 | -€10,271 | - |
| Financial income75/76B | €0 | €100 | €1 | €107 | ▲ 74× |
| Recurring financial income75 | €0 | €100 | €1 | €107 | ▲ 74× |
| Financial charges65/66B | €1,770 | €2,030 | €978 | €75 | ▼ 92.4% |
| Recurring financial charges65 | €1,770 | €2,030 | €978 | €75 | ▼ 92.4% |
| Profit (loss) for the period before taxes9903 | €278 | -€14,165 | €18,157 | -€10,239 | - |
| Income taxes67/77 | €2,411 | €424 | €4,397 | €208 | ▼ 95.3% |
| Profit (loss) for the period9904 | -€2,133 | -€14,588 | €13,760 | -€10,447 | - |
| Profit (loss) for the period to be appropriated9905 | -€2,133 | -€14,588 | €13,760 | -€10,447 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €31,097 | €26,270 | €18,386 | €6,046 | ▼ 67.1% |
| Formation expenses20 | €662 | €494 | €325 | €157 | ▼ 51.7% |
| Fixed assets21/28 | €771 | €1,206 | €754 | €893 | ▲ 18.5% |
| Tangible fixed assets22/27 | €771 | €1,206 | €754 | €893 | ▲ 18.5% |
| Furniture and vehicles24 | €771 | €1,206 | €754 | €893 | ▲ 18.5% |
| Current assets29/58 | €29,665 | €24,571 | €17,307 | €4,995 | ▼ 71.1% |
| Amounts receivable within one year40/41 | €17,275 | €6,230 | €8,001 | €4,524 | ▼ 43.5% |
| Trade receivables40 | €17,275 | €6,230 | €5,351 | €65 | ▼ 98.8% |
| Other amounts receivable41 | - | - | €2,650 | €4,459 | ▲ 68.3% |
| Cash at bank and in hand54/58 | €7,898 | €16,349 | €9,078 | €138 | ▼ 98.5% |
| Deferred charges and accrued income490/1 | €4,491 | €1,992 | €228 | €333 | ▲ 45.8% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €31,097 | €26,270 | €18,386 | €6,046 | ▼ 67.1% |
| Equity10/15 | €3,867 | -€10,721 | €3,039 | -€7,408 | - |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Profit (loss) carried forward14 | -€2,133 | -€16,721 | -€2,961 | -€13,408 | ▼ 353% |
| Amounts payable17/49 | €27,230 | €36,991 | €15,347 | €13,454 | ▼ 12.3% |
| Amounts payable within one year42/48 | €27,230 | €36,991 | €15,310 | €13,454 | ▼ 12.1% |
| Trade debts44 | €6,435 | €6,340 | €6,481 | €6,945 | ▲ 7.2% |
| Suppliers440/4 | €6,435 | €6,340 | €6,481 | €6,945 | ▲ 7.2% |
| Taxes, remuneration and social security45 | €20,341 | €29,694 | €7,911 | €6,508 | ▼ 17.7% |
| Taxes450/3 | €15,141 | €16,694 | €7,911 | €6,508 | ▼ 17.7% |
| Remuneration and social security454/9 | €5,200 | €13,000 | €0 | - | - |
| Other amounts payable47/48 | €454 | €958 | €918 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | €38 | €0 | ▼ 100% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,133 | -€14,588 | €13,760 | -€10,447 | - |
| + Depreciation and write-downs630 | €282 | €435 | €621 | €7,744 | ▲ 12× |
| Operating cash flow (approximation) | -€1,850 | -€14,153 | €14,381 | -€2,703 | - |
| Investment in fixed assets (approximation) | - | -€870 | -€168 | -€7,884 | ▼ 4,584% |
| Change in cash | - | €8,451 | -€7,271 | -€8,940 | ▼ 22.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as FC2 has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
84.8%
was still going
5.6%
stopped otherwise
8.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FC2 itself is lower: 1.1% within 12 months. It rests on far more data about FC2 than the profile alone.
Test of the method
The method was tested on the 497,446 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 7,639 companies, not a prediction for FC2. 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.
Board & ownership
Directors
Directors
2 directors, last change in 2025
COUNOTTE Martine
Current
Director (not named in the articles) · appointed in the act of 23-05-2025 · term without a fixed end · listed in the 2025 annual accounts, filed on 02-10-2026
Folcque Sébastien
Current
Director · listed in the 2025 annual accounts, filed on 02-10-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 13. Pouvoirs de l’organe d’administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
deed of 23-05-2025Owners and capital
Capital transactions
Capital over time
- 23-05-2025 Capital stated in the deed · 100 shares
Mandate history
2 people, 2 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| COUNOTTE Martine |
|
| Folcque Sébastien |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement actions acquises, nullité”
Articles of association, deed of 23-05-2025 (in French)
Network & group
FC2 shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of FC2. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
02-10
micro format · 63 days late
2025
16-06
micro format · 45 days before the deadline
23-05
Gazette deed
Company renamed from FOLCQUE & COUNOTTE ARCHITECTURE to FC2Appointment: COUNOTTE Martine (director) · “Bureau d’étude pour les missions liés à la PEB et audit énergétique,consultance et conseil dans la…” (deed in French) · 100 shares4 points ▸
Gazette deed
Company renamed from FOLCQUE & COUNOTTE ARCHITECTURE to FC2
Appointment: COUNOTTE Martine (director) · “Bureau d’étude pour les missions liés à la PEB et audit énergétique,consultance et conseil dans la…” (deed in French) · 100 shares4 points ▸
- General meeting, 19-05-2025
- Name change, FC2
- Director appointment, COUNOTTE Martine (director (not named in the articles))
- 100 shares
- The act holds 3 more points.
2024
31-12
Financial
Back to profitnet €13,760
The net result is €13,760, after 2 loss-making years.
06-05
Gazette deed
Resignations & appointmentsDirector in office: Sébastien Folcque2 points ▸
Gazette deed
Resignations & appointments
Director in office: Sébastien Folcque2 points ▸
- General meeting, 06-02-2024
- Director in office, Sébastien Folcque (director)
- The act holds 1 more point.
10-02
micro format · 172 days before the deadline
2023
31-12
Financial
Weakest financial yearnet -€14,588
The net result drops to -€14,588, the lowest from 2022 to 2025. It recovers the following year.
13-07
micro format · 18 days before the deadline
2021
13-12
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
FC2 in French
Former name
FOLCQUE & COUNOTTE ARCHITECTURE until the act of 23-05-2025
Enterprise number
0778.408.766
Legal form
Private limited company
Status
Active, normale toestand
Founded
09-12-2021
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 23-05-2025 (in French)Name clauseThe company operates under this name according to its articles.
“FC2”
deed of 23-05-2025 (in French)Registered office and establishments
Registered office
Rue de la Tour Carrée 359, 5300 Andenne, Belgium
Establishment unit
Folcque & Counotte Architecture, Rue de la Tour Carrée 359, 5300 Andenne since 09-12-2021 · unit number 2.325.264.006
E-mail
architecture.fc2@gmail.com
Activities
NACEBEL 202571111
Activities of building architects main activity
Codes under NACEBEL 2008
71111
Architectural and engineering activities; technical testing and analysis main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 23-05-2025 (in French)
“Bureau d’étude pour les missions liés à la PEB et audit énergétique,consultance et conseil dans la construction(état des lieux,permis de…”
10 activities
- Bureau d’étude pour les missions liés à la PEB et audit énergétique,consultance et conseil dans la construction(état des lieux,permis de location,avis technique avant une vente,...)
- Pâtisserie
- Vente et fabrication de produits:boulangerie-pâtisserie-chocolaterie–biscuiterie
- Organisation d’évènements(anniversaires,fêtes,soirée à thème....)
- Ateliers de pâtisserie
- Vente et fabrication de décoration autour des anniversaires,mariages....(papeterie,accessoires de table(gobelets,sous-verre...),décoration de salle,décorations gâteaux...)matériaux utilisés:bois,acrylique,plastique,papier,carton
- Organisation de petits déjeuner/brunch
- Location de matériel événementiel
- Photographe
- La gestion de biens immobiliers pour son compte propre sous toutes ses formes.En conséquence,la société pourra acheter,vendre,mettre en valeur,donner en location ou prendre en location,gérer,administrer,entretenir,améliorer,construire et reconstruire,tout Immeuble ou partie d’immeuble.Elle pourra cautionner ou avaliser tous engagements de tiers au moyen de ses biens,meubles ou immeubles,affecter en hypothèque à la garantie des engagements qu’elle pourrait souscrire en nom personnel ou ceux que des tiers pourraient souscrire.Elle peut également effectuer des placements mobiliers pour son compte propre à court,moyen ou long terme.
Invoicing and payment
VAT number
BE 0778.408.766
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of May at 18:00
deed of 23-05-2025 (in French)Sites & property
Location