FDN
ActiveSummary
FDN has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €372k and a net result of €78k. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 56% of 9624 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability80▲+6
Solvency68▼-13
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 1.99 against 2.07 in 2023; short-term debt: 24.2% and cash: 10.3% of total assets), but 56.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-07-2025, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
2 d early
2023
16 d early
2022
26 d early
2021
39 d late
2020
23 d late
2019
52 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€372k▲ 26.5%
2023 · €294k
2018: €257k
2019: €249k▼ -3.3% vs 2018
2020: €257k▲ +3.4% vs 2019
2021: €243k▼ -5.3% vs 2020lowest in 7 years
2022: €271k▲ +11.5% vs 2021
2023: €294k▲ +8.3% vs 2022
2024: €372k▲ +26.5% vs 2023highest in 7 years
2018 → 2024
Total assets
€857k▲ 63.6%
2023 · €524k
2018: €634k
2019: €570k▼ -10.1% vs 2018
2020: €506k▼ -11.3% vs 2019
2021: €460k▼ -9.1% vs 2020lowest in 7 years
2022: €560k▲ +21.7% vs 2021
2023: €524k▼ -6.3% vs 2022
2024: €857k▲ +63.6% vs 2023highest in 7 years
2018 → 2024
Net result
€78k▲ 248%
2023 · €22k
2018: €46k
2019: €11k▼ -75.4% vs 2018
2020: €8k▼ -26.0% vs 2019lowest in 7 years
2021: €16k▲ +93.2% vs 2020
2022: €28k▲ +70.7% vs 2021
2023: €22k▼ -19.8% vs 2022
2024: €78k▲ +248% vs 2023highest in 7 years
2018 → 2024
Working capital
€206k▲ 61.9%
2023 · €127k
2018: €34klowest in 7 years
2019: €58k▲ +69.2% vs 2018
2020: €71k▲ +23.7% vs 2019
2021: €57k▼ -19.9% vs 2020
2022: €42k▼ -26.3% vs 2021
2023: €127k▲ +202% vs 2022
2024: €206k▲ +61.9% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€257k-€243k▼ 5.3%€271k▲ 11.5%€294k▲ 8.3%€372k▲ 26.5%
2020: €257k
2021: €243k▼ -5.3% vs 2020lowest in 5 years
2022: €271k▲ +11.5% vs 2021
2023: €294k▲ +8.3% vs 2022
2024: €372k▲ +26.5% vs 2023highest in 5 years
Operating result€42k-€58k▲ 36.8%€38k▼ 33.9%€35k▼ 8.2%€112k▲ 218%
2020: €42k
2021: €58k▲ +36.8% vs 2020
2022: €38k▼ -33.9% vs 2021
2023: €35k▼ -8.2% vs 2022lowest in 5 years
2024: €112k▲ +218% vs 2023highest in 5 years
Net result€8k-€16k▲ 93.2%€28k▲ 70.7%€22k▼ 19.8%€78k▲ 248%
2020: €8klowest in 5 years
2021: €16k▲ +93.2% vs 2020
2022: €28k▲ +70.7% vs 2021
2023: €22k▼ -19.8% vs 2022
2024: €78k▲ +248% vs 2023highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 218% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €857k
Fixed assets
€444k ▲ 60.0%
Current assets
€413k ▲ 67.6%
Equity and liabilities €857k
Equity
€372k ▲ 26.5%
Provisions
€4k =
Debt
€482k ▲ 113%
Debt's share of the balance-sheet total rises from 43.3% to 56.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€151k▲
2023 · €60k
Cash flow
€117k▲
2023 · €47k
Current ratio
1.99▼
2023 · 2.07
Quick ratio
1.49▼
2023 · 1.78
Debt to equity
1.30▲
2023 · 0.77
ROE
21.0%▲
2023 · 7.6%
ROA
9.1%▲
2023 · 4.3%
Interest coverage
46.97▲
2023 · 22.05
Debt ≤ 1 year
€207k▲
2023 · €119k
Debt > 1 year
€271k▲
2023 · €103k
Income taxes
€35k▲
2023 · €15k
Staff costs
€267k▲
2023 · €259k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 56 lines
Balance sheet
Code20232024
Assets
Total assets20/58€524k€857k▲
Fixed assets21/28€277k€444k▲
Intangible fixed assets21€1k€0▼
Tangible fixed assets22/27€276k€444k▲
Land and buildings22€230k€222k▼
Plant, machinery and equipment23€12k€8k▼
Furniture and vehicles24€34k€213k▲
Current assets29/58€247k€413k▲
Stocks and contracts in progress3€35k€105k▲
Stocks30/36€35k€105k▲
Amounts receivable within one year40/41€155k€220k▲
Trade receivables40€129k€178k▲
Other amounts receivable41€26k€43k▲
Cash at bank and in hand54/58€57k€89k▲
Equity and liabilities
Total equity and liabilities10/49€524k€857k▲
Equity10/15€294k€372k▲
Contributions10/11€20k€20k=
Reserves13€274k€352k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€274k€352k▲
Provisions and deferred taxes16€4k€4k=
Provisions for liabilities and charges160/5€4k€4k=
Environmental obligations163€0-
Other liabilities and charges164/5€4k€4k=
Amounts payable17/49€227k€482k▲
Amounts payable after more than one year17€103k€271k▲
Financial debts170/4€33k€91k▲
Other amounts payable178/9€70k€180k▲
Amounts payable within one year42/48€119k€207k▲
Current portion of amounts payable after more than one year42€18k€34k▲
Trade debts44€58k€92k▲
Suppliers440/4€58k€92k▲
Taxes, remuneration and social security45€33k€53k▲
Taxes450/3€4k€31k▲
Remuneration and social security454/9€28k€23k▼
Other amounts payable47/48€10k€28k▲
Accrued charges and deferred income492/3€5k€4k▼
Income statement
Code20232024
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€259k€267k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€39k▲
Other operating charges640/8€7k€5k▼
Gross operating margin9900€326k€424k▲
Operating profit (loss)9901€35k€112k▲
Financial income75/76B€4k€4k▼
Recurring financial income75€4k€4k▼
Financial charges65/66B€3k€3k▲
Recurring financial charges65€3k€3k▲
Profit (loss) for the period before taxes9903€37k€113k▲
Income taxes67/77€15k€35k▲
Profit (loss) for the period9904€22k€78k▲
Profit (loss) for the period to be appropriated9905€22k€78k▲
Appropriation of the result
Profit (loss) to be appropriated9906€22k€78k▲
Transfer to equity691/2€22k€78k▲
To other reserves6921€22k€78k▲
Social balance
Average headcount (FTE)90874.24.3▲
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2k | €2k | €0 | - | - |
| Remuneration, social security and pensions62 | - | €223k | €194k | €259k | €267k | ▲ 3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €13k | €12k | €25k | €39k | ▲ 59.5% |
| Other operating charges640/8 | - | €2k | €3k | €7k | €5k | ▼ 26.3% |
| Gross operating margin9900 | €237k | €296k | €248k | €326k | €424k | ▲ 30.0% |
| Operating profit (loss)9901 | €42k | €58k | €38k | €35k | €112k | ▲ 218% |
| Financial income75/76B | - | €5k | €3k | €4k | €4k | ▼ 14.9% |
| Recurring financial income75 | €5k | €5k | €3k | €4k | €4k | ▼ 14.9% |
| Financial charges65/66B | - | €27k | €2k | €3k | €3k | ▲ 18.6% |
| Recurring financial charges65 | €27k | €27k | €2k | €3k | €3k | ▲ 18.6% |
| Profit (loss) for the period before taxes9903 | €20k | €36k | €40k | €37k | €113k | ▲ 204% |
| Income taxes67/77 | €12k | €19k | €12k | €15k | €35k | ▲ 137% |
| Profit (loss) for the period9904 | €8k | €16k | €28k | €22k | €78k | ▲ 248% |
| Transfer from tax-exempt reserves789 | - | €13k | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €8k | €29k | €28k | €22k | €78k | ▲ 248% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €506k | €460k | €560k | €524k | €857k | ▲ 63.6% |
| Fixed assets21/28 | €269k | €234k | €277k | €277k | €444k | ▲ 60.0% |
| Intangible fixed assets21 | €7k | €5k | €3k | €1k | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €237k | €229k | €274k | €276k | €444k | ▲ 60.8% |
| Land and buildings22 | - | €219k | €212k | €230k | €222k | ▼ 3.4% |
| Plant, machinery and equipment23 | - | €8k | €17k | €12k | €8k | ▼ 33.1% |
| Furniture and vehicles24 | - | €2k | €45k | €34k | €213k | ▲ 534% |
| Financial fixed assets28 | €25k | €0 | - | - | - | - |
| Current assets29/58 | €237k | €225k | €282k | €247k | €413k | ▲ 67.6% |
| Stocks and contracts in progress3 | €32k | €38k | €41k | €35k | €105k | ▲ 202% |
| Stocks30/36 | - | €38k | €41k | €35k | €105k | ▲ 202% |
| Amounts receivable within one year40/41 | €107k | €123k | €178k | €155k | €220k | ▲ 42.0% |
| Trade receivables40 | - | €108k | €152k | €129k | €178k | ▲ 37.5% |
| Other amounts receivable41 | - | €15k | €26k | €26k | €43k | ▲ 64.5% |
| Cash at bank and in hand54/58 | €98k | €64k | €63k | €57k | €89k | ▲ 55.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €506k | €460k | €560k | €524k | €857k | ▲ 63.6% |
| Equity10/15 | €257k | €243k | €271k | €294k | €372k | ▲ 26.5% |
| Contributions10/11 | - | €20k | €20k | €20k | €20k | = |
| Reserves13 | €237k | €223k | €251k | €274k | €352k | ▲ 28.5% |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Tax-exempt reserves132 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €221k | €249k | €274k | €352k | ▲ 28.5% |
| Profit (loss) carried forward14 | €-101 | €0 | €0 | - | - | - |
| Provisions and deferred taxes16 | €7k | €5k | €4k | €4k | €4k | = |
| Provisions for liabilities and charges160/5 | - | €5k | €4k | €4k | €4k | = |
| Environmental obligations163 | - | €5k | €4k | €0 | - | - |
| Other liabilities and charges164/5 | - | - | - | €4k | €4k | = |
| Amounts payable17/49 | €242k | €211k | €285k | €227k | €482k | ▲ 113% |
| Amounts payable after more than one year17 | €77k | €43k | €38k | €103k | €271k | ▲ 164% |
| Financial debts170/4 | - | €43k | €38k | €33k | €91k | ▲ 180% |
| Other amounts payable178/9 | - | - | - | €70k | €180k | ▲ 157% |
| Amounts payable within one year42/48 | €165k | €168k | €240k | €119k | €207k | ▲ 73.7% |
| Current portion of amounts payable after more than one year42 | - | €34k | €34k | €18k | €34k | ▲ 86.6% |
| Trade debts44 | €81k | €68k | €145k | €58k | €92k | ▲ 57.9% |
| Suppliers440/4 | - | €68k | €145k | €58k | €92k | ▲ 57.9% |
| Taxes, remuneration and social security45 | - | €36k | €39k | €33k | €53k | ▲ 64.4% |
| Taxes450/3 | - | €8k | €9k | €4k | €31k | ▲ 647% |
| Remuneration and social security454/9 | - | €28k | €31k | €28k | €23k | ▼ 19.6% |
| Other amounts payable47/48 | - | €30k | €22k | €10k | €28k | ▲ 172% |
| Accrued charges and deferred income492/3 | - | - | €6k | €5k | €4k | ▼ 24.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8k | €16k | €28k | €22k | €78k | ▲ 248% |
| + Depreciation and write-downs630 | €13k | €13k | €12k | €25k | €39k | ▲ 59.5% |
| Operating cash flow (approximation) | €22k | €29k | €40k | €47k | €117k | ▲ 149% |
| Investment in fixed assets (approximation) | - | €22k | €-55k | €-25k | €-206k | ▼ 722% |
| Change in cash | - | €-34k | €-919 | €-6k | €32k | ▲ 596% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
18-09
State Gazette act
Restructuring · MiscellaneousMerger · Shareholding · Real estate6 facts ▸
State Gazette act
Restructuring · Miscellaneous
Merger · Shareholding · Real estate6 facts ▸
- Merger, geruisloze fusie, overname
- Shareholding, 08-07-2026, overeenkomst
- Other statement, no special rights or other securities, Aangezien de over te nemen vennootschap geen andere titels dan aandelen heeft uitgegeven, noch aandelen waaraan speciale…
- Other statement, no special benefits for board members, Aan de leden van het bestuursorgaan van de te fuseren vennootschappen zullen geen bijzondere voordelen toegekend worden.
- Real estate, real estate transfer, Voor zover als nodig verzaakt de overnemende vennootschap aan haar vordering tot nietigheid zoals voorzien in artikel 116 van het Vlaams B…
- Other statement, personnel transfer, Ingevolge de fusie zal het personeel van de over te nemen vennootschap – FDN BV – overeenkomstig CAO 32bis worden overgedragen aan de overne…
04-08
State Gazette act
Resignations: Tom Segers (director) and BV TS&M (director)Appointment: BV Varel Security Group (director) · Permanent representative: Ben Fortan · Mandate compensation6 facts ▸
State Gazette act
Resignations: Tom Segers (director) and BV TS&M (director)
Appointment: BV Varel Security Group (director) · Permanent representative: Ben Fortan · Mandate compensation6 facts ▸
- General meeting, 08/07/2026
- Director resignation, Tom Segers (director)
- Director resignation, BV TS&M (director)
- Director appointment, BV Varel Security Group (director)
- Permanent representative, Ben Fortan
- Mandate compensation, BV Varel Security Group
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €78k ▲248%
Operating result €112k, net result €78k, both a record.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 39 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 23 days late
2020
31-12
Financial
Weakest financial yearnet €8k ▼26%
Net result drops to €8k, the lowest in the series; recovery starts the following year.
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 52 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 2 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 director, last change in 2026
Varel Security Group
CurrentDirector · since 08-07-2026 · Private limited company · perm. rep.: Ben Fortan
08-07-2026
Varel Security Group: Appointed as Director
08-07-2026
Tom Segers: Resigned as Director
08-07-2026
TS & M: Resigned as Director
Not every act has been read: a resignation may be missing here
3 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Tremelo · 1 establishment unit since 1995
Ground area
422 m²
Building footprint
355 m²
Volume, LiDAR
3,213 m³
2 parcels, Flanders · tallest building 13.2 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
FDN
since 19952.074.109.131
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24109C0238/00R007 | Flanders | 228 m² | 1 · 191 m² | 13.2 m · 3 fl. |
| 24109C0238/00Y006 | Flanders | 194 m² | 1 · 164 m² | 12.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Purpose
De aan- en verkoop, groot- en kleinhandel, evenals het verwerken, plaatsen en onderhouden voor eigen rekening of in onderaanneming, van alle elektriciteitswerken, elektrische…
Full purpose (11 activities)
- De aan- en verkoop, groot- en kleinhandel, evenals het verwerken, plaatsen en onderhouden voor eigen rekening of in onderaanneming, van alle elektriciteitswerken, elektrische toestellen, elektronische installaties en al wat er rechtstreeks of onrechtstreeks mee in verband staat
- Onderneming voor het plaatsen van verlichting, drijfkracht en telefoon
- Onderneming voor het plaatsen van bliksemafleiders
- Onderneming voor het plaatsen en uitbaten van kabeltelevisienet
- Vervaardigen van lichtreclames
- Onderneming voor het installeren van elektrische signalisaties voor wegen, spoorwegen, binnenwateren, zeewegen en luchtwegen
- Vervaardigen van alarm- en beveiligingstoestellen, van toestellen gebruikt in een alarm- of beveiligingssysteem
- Vervaardigen van opmetingstoestellen en van industriële meet- en controletoestellen
- Groot- en kleinhandel in andere dan elektrische verwarmingstoestellen
- Onderneming voor het plaatsen van verlichting
- Elektrische installaties in gebouwen, inbegrepen de installaties van stroomaggregaten, de uitrustingen voor brand- en diefstalmelding, telecommunicatie in gebouwen en hun omgeving en installaties of uitrustingen van gemengde telefonie
Other provisions of the articles (5)
- Accounting effect: 01-10-2026
- Other statement (4)
Structure & network
Acquisitions and mergers
1 transactionTaken over by:VAREL SECURITY
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 18-09-2026 ↗
- VAREL SECURITY (BE 0417.906.385) all shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 1,121 EUR awarded · 1,121 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 1,121 EUR | 1,121 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
1 categoryFDN BV26864
Similar companies · same sector, comparable size
KEUKELEIRE ELECTRICITEIT
BE 0445.849.612
Brugge · Eq €372k
FASSIPHONE BELGIUM
BE 0454.847.747
Schaarbeek · Eq €371k
SPRL Godfrin frères
BE 0416.530.668
Florenville · Eq €373k
ENERJI
BE 0820.244.074
Gent · Eq €370k
ELEKTROCENTER MINNE
BE 0871.499.864
Zulte · Eq €369k
Of 1,511 companies in sector 47540 we hold annual accounts for 805. 640 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded02-08-1995
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
47540Retail sale of electrical household appliances
Scores and ratios are computed by Checked and are not a credit decision.