FCJ
ActiveSummary
FCJ has been active since 2025 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€25,998) and a net result of -€30,998. Its solvency ranks better than 13% of 3,714 sector peers (NACE 01, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 19-02-2025 Normal situation
- Activity
- Raising of horses and other equines NACE 01430and 4 others
- Establishment unit
- 2.370.553.603 2580 Putte, since 19-02-2025
- Financial year end
- 31 December
- Peppol
- Reachable since 02-03-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.0%
Annual accounts 2025
- Gross margin
- -€22,424
- Loss
- €30,998
- Equity
- -€25,998
- Total assets
- €154,043
- Negative equity on 31-12-2025
Turnover not published (micro format)
Score breakdownraises riskCapped at 59: negative equityLiquidity: current ratio 0.63, cash €273Negative equity -€25,998lowers riskSector: Crop and animal production, hunting and related service activities (NACE 01)Size: total assets €154,043Show the evidence
Checked score
Score 2025
52
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 5% of micro companies in crop and animal production (NACE 01)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength
Weak
Solvency
8
equity -16.9% of total assets
Liquidity
0
short-term debt 116.9% · cash 0.2%
Profitability
0
return on assets -20.1%
Bankruptcy probability within 12 months
1.0%
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
03-2026: 0.4%lowest value
04-2026: 0.4%● unchanged vs 03-2026lowest value
05-2026: 0.5%▲ +0.1 percentage points vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.9%▲ +0.4 percentage points vs 06-2026
08-2026: 1.0%▲ +0.1 percentage points vs 07-2026
09-2026: 1.0%● unchanged vs 08-2026
10-2026: 1.0%● unchanged vs 09-2026highest value
11-2026: 1.0%● unchanged vs 10-2026highest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.63, below 1. Short-term debt is 116.9% and cash 0.2% 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 01, micro). It does better than 11% of them on solvency, 2% on liquidity and 4% on profitability.
The bankruptcy probability was computed on 03-11-2026 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
Seven signals.
lowers riskraises riskneutral
raises risk · Young company
Founded in 2025, a year ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-06-2026, 32 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
32 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB
Equity
-€25,998
Total assets
€154,043
Net result
-€30,998
Working capital
-€66,156
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
Assets €154,043
Fixed assets
€40,158
Current assets
€113,885
Equity and liabilities
Equity-€25,998
Debt€180,041
Equity is negative. Debt (€180,041) exceeds the balance-sheet total (€154,043).
Key figures and ratios
EBITDA
-€23,145
Cash flow
-€23,156
Solvency
-16.9%
Current ratio
0.63
Quick ratio
0.00
ROA
-20.1%
Interest coverage
-580.51
Debt
€180,041
Debt ≤ 1 year
€180,041
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Investments
| Item | 2025 |
|---|---|
| Tangible fixed assets | €48,000 |
| Depreciation and write-downs of the year | €7,842 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,842 |
| Other operating charges640/8 | €721 |
| Gross operating margin9900 | -€22,424 |
| Operating profit (loss)9901 | -€30,987 |
| Financial income75/76B | €29 |
| Recurring financial income75 | €29 |
| Financial charges65/66B | €40 |
| Recurring financial charges65 | €40 |
| Profit (loss) for the period before taxes9903 | -€30,998 |
| Profit (loss) for the period9904 | -€30,998 |
| Profit (loss) for the period to be appropriated9905 | -€30,998 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €154,043 | |
| Fixed assets21/28 | €40,158 | |
| Tangible fixed assets22/27 | €40,158 | |
| Plant, machinery and equipment23 | €6,693 | |
| Furniture and vehicles24 | €33,465 | |
| Current assets29/58 | €113,885 | |
| Stocks and contracts in progress3 | €113,500 | |
| Stocks30/36 | €113,500 | |
| Cash at bank and in hand54/58 | €273 | |
| Deferred charges and accrued income490/1 | €112 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €154,043 | |
| Equity10/15 | -€25,998 | |
| Contributions10/11 | €5,000 | |
| Profit (loss) carried forward14 | -€30,998 | |
| Amounts payable17/49 | €180,041 | |
| Amounts payable within one year42/48 | €180,041 | |
| Trade debts44 | €896 | |
| Suppliers440/4 | €896 | |
| Taxes, remuneration and social security45 | €117 | |
| Taxes450/3 | €117 | |
| Other amounts payable47/48 | €179,029 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€30,998 |
| + Depreciation and write-downs630 | €7,842 |
| Operating cash flow (approximation) | -€23,156 |
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, 1,322 companies had the same profile as FCJ has now. Two years later, 90.2% were still going and 4.2% had gone bankrupt.
- Micro
- under 2 years old
- negative equity
- a loss of 10% of the balance sheet or more
90.2%
was still going
5.5%
stopped otherwise
4.2%
went bankrupt
That fits the bankruptcy probability of FCJ itself: 1.0% 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 1,322 companies, not a prediction for FCJ. 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.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00212304 |
Board & ownership
Directors
Directors
2 directors, no change since 2025
SERNEELS Caroline
Current
Director (not named in the articles) · appointed in the act of 21-02-2025 · term without a fixed end · listed in the 2025 annual accounts, filed on 29-06-2026
VAN DE VELDE Kevin
Current
Director (not named in the articles) · appointed in the act of 21-02-2025 · term without a fixed end · listed in the 2025 annual accounts, filed on 29-06-2026
Owners and capital
Shareholders
At incorporation
act of 21-02-2025 ↗
- SERNEELS Caroline founder
- VAN DE VELDE Kevin founder
Capital transactions
Capital over time
- 21-02-2025 Incorporation · €5,000 · 100 shares
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| SERNEELS Caroline |
|
| VAN DE VELDE Kevin |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Een of meer bestuurders natuurlijke of rechtspersonen al dan niet aandeelhouder, benoemd met of zonder beperking van duur kunnen statutair…”“Op algemene kosten los van representatie reis en verplaatsingskosten, algemene vergadering met absolute meerderheid of enige aandeelhouder…”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Op naam, register_van_aandelen_op_naam_met_WVV-vermeldingen”
Audit, dissolution and liquidation
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 21-02-2025 (in Dutch)
Network & group
FCJ shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of FCJ. Every other company they run is a node.
This company
Company
Director
Shareholding
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Timeline
Acts, filings and financial milestones
2026
29-06
micro format · 32 days before the deadline
2025
21-02
Gazette deed
IncorporationStarting capital €5,000 · Appointments: SERNEELS Caroline (director) and VAN DE VELDE Kevin (director) · Founder15 points ▸
Gazette deed
Incorporation
Starting capital €5,000 · Appointments: SERNEELS Caroline (director) and VAN DE VELDE Kevin (director) · Founder15 points ▸
- Incorporation, “FCJ” (deed in Dutch)
- Founder, SERNEELS Caroline
- Founder, VAN DE VELDE Kevin
- Founding capital, €5,000
- Bank account, “KBC Bank nv, bijzondere rekening geopend namens de vennootschap in oprichting” (deed in Dutch)
- Other provision, 30-01-2025
- Declaration, “aansprakelijkheid oprichters bij faillissement binnen drie jaar na oprichting indien aanvangsvermogen kennelijk ontoereikend voor voorgenomen activiteit”, 3 (deed in Dutch)
- Declaration, “statuten luiden als volgt” (deed in Dutch)
- Share issue, “vergoeding voor de inbrengen”, 100 (deed in Dutch)
- Registered office clause, “2580 Putte, Langendijk 4” (deed in Dutch)
- Board rule, 2
- Director appointment, SERNEELS Caroline (director (not named in the articles))
- The act holds 3 more points.
Gazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordName
FCJ in Dutch
Enterprise number
1020.162.361
Legal form
Private limited company
Status
Active, normale toestand
Founded
19-02-2025
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 21-02-2025 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, bij enkel besluit bestuursorgaan administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren vestigen in…”
deed of 21-02-2025 (in Dutch)Registered office and establishments
Registered office
Langendijk 4, 2580 Putte, Belgium
Establishment unit
Stal Langendijk, Langendijk 4, 2580 Putte since 19-02-2025 · unit number 2.370.553.603
Activities
NACEBEL 202501430
Raising of horses and other equines main activity
01500
Mixed farming
68110
Buying and selling of own real estate
82990
Other business support services
93127
Equestrian clubs
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 21-02-2025 (in Dutch)
“Het fokken van paarden bedoeld voor landbouw en sport,het uitbaten van de infrastructuur hiervoor vereist; Het trainen en opleiden van…”
18 activities
- Het fokken van paarden bedoeld voor landbouw en sport,het uitbaten van de infrastructuur hiervoor vereist
- Het trainen en opleiden van paarden bedoeld voor landbouw en sport,het uitbaten van de infrastructuur hiervoor vereist
- Ondersteunende activiteiten in verband met landbouw en veeteelt
- De uitbating van fokkerijen en stoeterijen
- Het kopen en verkopen van sport,recreatie,landbouw- of slachtpaarden
- De verzorging van dieren,voornamelijk paarden,opleiden en trainen van ren-,draf-,spring- en dressuurpaarden,deelnemen aan wedstrijden
- De groot- en kleinhandel in dieren,in uitrustingsgoederen voor de beoefening van sport,in alle sportartikelen,in landbouwgrondstoffen,landbouwuitrusting,strooisels,veevoeders en meststoffen allerlei
- Het inrichten en organiseren van paardenveilingen;het verlenen van assistentie en het leveren van vertaalwerk voor veilingen georganiseerd door derden
- Het inrichten en organiseren van jumping- en andere paardenwedstrijden;het verlenen van assistentie bij deze evenementen georganiseerd door derden
- Het inrichten en houden van voordachten,bijeenkomsten,cursussen,seminaries,met betrekking tot de paardensport en aanverwante materies
- Transport van levende dieren,in het bijzonder doch niet uitsluitend paarden en dit met eender welk vervoermiddel,vaar- of vliegtuig
- Transport van goederen met eender welk vervoermiddel
- Klus- en karweiwerken in en rond gebouwen
- De activiteiten van hondentrimmer,hondenopvang,hondentraining en alle activiteiten verbonden aan de groot- en kleinhandel van accessoires van huisdieren
- Elke dienstverlening op het gebied van management,in de ruimste zin bijstand,advies en diensten verlenen,rechtstreeks of onrechtstreeks op het vlak van administratie en financiën,verkoop,incasso,productie en algemeen bestuur aan bedrijven,personen en vennootschappen
- Alle financiële en beheersverrichtingen met betrekking tot eigen roerend vermogen en met betrekking tot onroerend vermogen,onder meer,krediet en financiering,belegging van eigen roerend vermogen en van onroerend vermogen,beheren van eigen roerend en van onroerend vermogen,hypothecaire en andere borgstelling,commissie- en delcredereverrichtingen,voor zover dit alles wettelijk is toegelaten
- Het verwerven en huren met het oog op het verhuren en onderverhuren van onroerende goederen en eigen roerende installaties
- Het optreden als commissionair,tussenpersoon,zowel voor eigen rekening als voor rekening van derden bij alle commerciële activiteiten
Invoicing and payment
VAT number
BE 1020.162.361
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.
Fourth Friday of June at 19:00
deed of 21-02-2025 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
1.5 ha
Building footprint
223 m²
Building volume
1,185 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12029C0410/00V000 | Flanders | 1.5 ha | 1 · 223 m² | 8.0 m · 2 |