Result
€13.1m €13.1m
Back in profit in 2025, after a loss of €29.0m in 2024.
FedEx Express BE
Lifetime
18 annual accounts with figures on one time axis, 47 filings since 1977peak €468.5m (2024)
€420.0m▼ 10.4%
lowest -€29.0m (2024)
€13.1m▲ €42.1m
peak €136.0m (2023)
€120.1m▲ 12.2%
€138.8m▼ 13.5%
peak 1,289.5 FTE (2024)
1,197.5 FTE▼ 7.1%
Board29 names since 2003all names
5 directorsPENNINKS Marius Mathijs and 4 others
Owners5 names in the annual accounts
100%Fedex Express International BV and 1 other
Documentsfilings and deeds
04-12-202527 days before the deadline
2025financial year
Back to profit: €13.1mReappointment: Ernst & Young Bedrijfsrevisoren BV (statutory… 31-12Permanent representatives: Wim Van Gasse and Piet Hemschoote 03-06Registered office moved from Brussels to Machelen 15-05Equity from €107.0m to €120.1mCash from €1.1m to €1.7m
Key points
from the 2025 annual accountsStaff
997 employees on 31-05-2025
In 2025, 76 people joined and 436 left. On top of that, 168 agency workers worked there on average.
Payment terms
35 days to suppliers
FedEx Express BE pays its suppliers 2 days later than in 2024. Customers pay 70 days later.
Liquidity
3.33 was 1.53 in 2024
Short-term debts fell from €76.8m to €55.6m.
Filings
47 annual accounts since 1977
Five of the last ten came late. The 2021 accounts came latest: 206 days after the end of the period.
Position in the sector
€13.1m
Higher net result than 95% of companies in postal and courier. Sector median €31,034 · 58 companies.
Checked score
68
Healthy
Financially stronger than 50% of all companies
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 5 companies (NACE 53, large).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.2%
01-2025: 2.0%▲ +0.8 percentage points vs 12-2024
02-2025: 2.0%● unchanged vs 01-2025
03-2025: 2.0%● unchanged vs 02-2025
04-2025: 2.0%● unchanged vs 03-2025
05-2025: 2.0%● unchanged vs 04-2025
06-2025: 3.2%▲ +1.2 percentage points vs 05-2025
07-2025: 3.1%▼ -0.1 percentage points vs 06-2025
08-2025: 3.1%● unchanged vs 07-2025
09-2025: 3.2%▲ +0.1 percentage points vs 08-2025
10-2025: 3.4%▲ +0.2 percentage points vs 09-2025highest value
11-2025: 3.3%▼ -0.1 percentage points vs 10-2025
12-2025: 3.4%▲ +0.1 percentage points vs 11-2025
01-2026: 0.6%▼ -2.8 percentage points vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026lowest value
08-2026: 0.6%● unchanged vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.8%▲ +0.2 percentage points vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
1 change of registered office in 24 months
Sector: Postal and courier activities (NACE 53)
lowers risk
Size: turnover €420.0m, 1,197.5 FTE, total assets €371.1m
Founded in 1968
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 (all companies). It does better than 47% of them on solvency, 55% on liquidity, 56% on profitability and 44% on growth.
The bankruptcy probability was computed on 10-11-2026 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 31-05-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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).
Comparable companies, two years later
In July 2024, 513 companies had the same profile as FedEx Express BE has now. Each dot stands for 2 companies, two years later.
96.1%
were still trading
3.1%
stopped another way
0.8%
went bankrupt
That fits the bankruptcy probability of FedEx Express BE itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,448 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 513 companies, not a prediction for FedEx Express BE. 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.
Credit verdict
Credit of up to €8,150,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.33 (1.53 in 2024), above the usual 1.5. Short-term debt is 15% and cash 0.5% of total assets. However, 67.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-05-2025 was due by 31-12-2025 and was filed on 04-12-2025, 27 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
27 days early
2024
22 days early
2023
25 days early
2022
73 days late
2021
206 days late
2020
85 days late
2019
43 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 48 days after the deadline. In the sector (NACE 53), the median for financial year 2024 was 13 days after the deadline, and 56% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 31-05-2026 is due by 31-12-2026. Nothing is late today. The company usually files around 9 December (4 of the last 5 accounts filed within 95 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
31-05-2026 year end11-11-2026 today31-12-2026 deadline
Board and ownership
DW
De Waele Olivier C.G.
Director, since 20-02-2023
- Fedex Express International BV 100%annual accounts 31-05-2025
- FedEx Corporation consolidatesannual accounts 31-05-2025
Shares in 1 company, FedEx Express Belgium Air Hub
Board & ownershipRecent changes
Algemene Vergadering - Boekjaar
General meeting of 11-09-2026 · Gazette deed
Appointment: James Alexander Davies (director)
General meeting of 14-07-2026 · Gazette deed
Resignation: Armanda Annewiek Post (director)
Gazette deed
Reappointment: Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
General meeting of 28-11-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FedEx Express BE Machelen (Brab.) | €420.0m | 2.2% | 32.4% | 1,197.5 |
| DPD (BELGIUM) Vilvoorde | €268.1m | -6.3% | 34.1% | 576.5 |
| DHL INTERNATIONAL Machelen (Brab.) | €426.2m | 3.1% | 21.4% | 753.9 |
| UNITED PARCEL SERVICE BELGIUM Machelen (Brab.) | €357.4m | 4.1% | 30.3% | 670.5 |
| POSTNL PAKKETTEN BELGIE Turnhout | €199.9m | 2.6% | 43.4% | 464.9 |
| Federal Express Corporation Wilmington | €572.8m | 0.4% | 44.8% | 23.6 |
| DELIVEROO BELGIUM Brussels | €37.2m | 0.0% | 23.4% | 34.2 |
Grey: the largest companies of the sector (postal and courier (NACE 53)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as FedEx Express BE: other postal and courier activities (NACE 53200). They are comparable in size and age: total assets between €40m and €242m, founded between 1969 and 2015.
Official details
Source: KBO- Status
- Active since 07-05-1968Normal situation
- Activity
- Other postal and courier activitiesNACE 53200and 1 other
- Joint committees
- 226White-collar workers in international trade, transport and logistics
- 140Transport and logistics · annual accounts 31-05-2025
- Establishment units
- 2.002.009.3281830 Machelen (Brab.), since 21-01-1994
- 2.002.009.4272850 Boom, since 24-07-2001and 4 others
- Financial year end
- 31 May
- Peppol
- Reachable since 30-12-2025
Annual accounts to 31-05-2025
- €371.1m▲ 15.5%
- Employeeson 31-05-2025
- 997▼ 26.4%
- Filing
- Filed on 04-12-2025, 27 days before the end of the filing period
Insights on FedEx Express BE
FedEx Express BE has existed since 1968. Turnover grew from €159.3m in 2006 to €420.0m in 2025 and staff from 579.5 to 1,197.5 full-time equivalents.
Fedex Express International BV holds all the shares. In February 2023, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FedEx Express BE
- What is the company number of FedEx Express BE?
- The company number of FedEx Express BE is 0406.383.379. The VAT number is the same number with BE in front: BE 0406.383.379.
- Where is FedEx Express BE based?
- The registered office is at Bedrijvenzone Machelen-Cargo 711, 1830 Machelen (Brab.).Company details
- What does FedEx Express BE do?
- According to the KBO register, the main activity is other postal and courier activities (NACE 53200).
- What is the legal form of FedEx Express BE?
- FedEx Express BE is a private limited company (BV).
- When was FedEx Express BE founded?
- FedEx Express BE was founded on 07-05-1968.
- Is FedEx Express BE still active?
- Yes, FedEx Express BE is an active enterprise in the KBO register.
- How many employees does FedEx Express BE have?
- FedEx Express BE had an average of 1,197.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does FedEx Express BE fall under?
- In its 31-05-2025 annual accounts, FedEx Express BE states joint committees 226 (White-collar workers in international trade, transport and logistics) and 140 (Transport and logistics).
- What is the turnover of FedEx Express BE?
- The turnover of FedEx Express BE was €420.0m in financial year 2025, according to the filed annual accounts.
- Is FedEx Express BE profitable?
- In financial year 2025, FedEx Express BE made a profit of €13.1m.
- Where can I find the annual accounts of FedEx Express BE?
- FedEx Express BE filed 47 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FedEx Express BE due?
- FedEx Express BE must file the annual accounts for financial year 2026 by 31-12-2026.Timeline
Next steps
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