FCB
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2025 is 51% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €6,000 | €45,908 | €1,222 | - |
| Financial fixed assets | - | - | - | €0 |
| Depreciation and write-downs of the year | €148 | €14,706 | €6,347 | €6,497 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €148 | €14,706 | €6,347 | €6,497 | ▲ 2.4% |
| Other operating charges640/8 | €307 | €3,275 | €2,768 | €15,962 | ▲ 477% |
| Gross operating margin9900 | €23,526 | €63,695 | €44,850 | €40,033 | ▼ 10.7% |
| Operating profit (loss)9901 | €23,072 | €45,714 | €35,735 | €17,574 | ▼ 50.8% |
| Financial income75/76B | €0 | €15 | €346 | €0 | ▼ 100.0% |
| Recurring financial income75 | €0 | €15 | €346 | €0 | ▼ 100.0% |
| Financial charges65/66B | €212 | €127 | €179 | €803 | ▲ 349% |
| Recurring financial charges65 | €212 | €127 | €179 | €803 | ▲ 349% |
| Profit (loss) for the period before taxes9903 | €22,860 | €45,603 | €35,902 | €16,771 | ▼ 53.3% |
| Income taxes67/77 | €4,600 | €9,884 | €7,646 | €3,938 | ▼ 48.5% |
| Profit (loss) for the period9904 | €18,260 | €35,719 | €28,256 | €12,833 | ▼ 54.6% |
| Profit (loss) for the period to be appropriated9905 | €18,260 | €35,719 | €28,256 | €12,833 | ▼ 54.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €94,024 | €131,617 | €178,183 | €218,176 | ▲ 22.4% |
| Fixed assets21/28 | €5,852 | €37,054 | €9,557 | €3,060 | ▼ 68.0% |
| Tangible fixed assets22/27 | €5,852 | €37,054 | €9,557 | €3,060 | ▼ 68.0% |
| Plant, machinery and equipment23 | - | €3,616 | €2,394 | €1,173 | ▼ 51.0% |
| Furniture and vehicles24 | €5,852 | €33,438 | €7,163 | €1,887 | ▼ 73.7% |
| Current assets29/58 | €88,171 | €94,564 | €168,626 | €215,116 | ▲ 27.6% |
| Stocks and contracts in progress3 | €53,912 | €31,446 | €14,500 | €46,718 | ▲ 222% |
| Stocks30/36 | €53,912 | €31,446 | €14,500 | €46,718 | ▲ 222% |
| Amounts receivable within one year40/41 | €6,000 | €4,262 | €6,813 | €14,967 | ▲ 120% |
| Trade receivables40 | €6,000 | €4,262 | €5,944 | €13,512 | ▲ 127% |
| Other amounts receivable41 | - | - | €869 | €1,455 | ▲ 67.3% |
| Cash at bank and in hand54/58 | €28,260 | €58,285 | €147,312 | €153,431 | ▲ 4.2% |
| Deferred charges and accrued income490/1 | - | €571 | €0 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €94,024 | €131,617 | €178,183 | €218,176 | ▲ 22.4% |
| Equity10/15 | €23,260 | €58,978 | €87,234 | €100,067 | ▲ 14.7% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €18,260 | €53,978 | €82,234 | €95,067 | ▲ 15.6% |
| Amounts payable17/49 | €70,764 | €72,639 | €90,949 | €118,109 | ▲ 29.9% |
| Amounts payable within one year42/48 | €70,764 | €72,639 | €90,949 | €118,109 | ▲ 29.9% |
| Trade debts44 | €1,419 | €218 | €8,143 | €3,998 | ▼ 50.9% |
| Suppliers440/4 | €1,419 | €218 | €8,143 | €3,998 | ▼ 50.9% |
| Advances received on contracts in progress46 | - | - | - | €14,250 | - |
| Taxes, remuneration and social security45 | €4,603 | €14,764 | €16,551 | €10,591 | ▼ 36.0% |
| Taxes450/3 | €4,603 | €14,764 | €16,551 | €10,591 | ▼ 36.0% |
| Other amounts payable47/48 | €64,742 | €57,658 | €66,255 | €89,270 | ▲ 34.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,260 | €35,719 | €28,256 | €12,833 | ▼ 54.6% |
| + Depreciation and write-downs630 | €148 | €14,706 | €6,347 | €6,497 | ▲ 2.4% |
| Operating cash flow (approximation) | €18,408 | €50,424 | €34,603 | €19,330 | ▼ 44.1% |
| Investment in fixed assets (approximation) | - | -€45,908 | €21,150 | €0 | ▼ 100% |
| Change in cash | - | €30,026 | €89,027 | €6,119 | ▼ 93.1% |
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, 39,278 companies had the same profile as FCB has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FCB itself: 0.4% within 12 months.
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 39,278 companies, not a prediction for FCB. 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.