FEFSON
ActiveSummary
FEFSON has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €121,491 and a net result of €4,222. Equity is growing by ~12.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 2035 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 38.94 against 6.17 in 2024; short-term debt: 1.6% and cash: 43.9% of total assets), and 3.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
96.9%
Return on assets
3.4%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
29 d early
2023
1 d early
2022
5 d early
2021
18 d early
2020
on the day
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 25 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€121,491▼ 3.0%
2024 · €125,269
Total assets
€125,375▼ 10.5%
2024 · €140,121
Net result
€4,222▼ 9.3%
2024 · €4,655
Working capital
€76,683▲ 7.7%
2024 · €71,209
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€44,597▲ 64.6%€11,678▼ 73.8%€23,413▲ 100%€5,836▼ 75.1%€7,347▲ 25.9%
Net result€30,995above the sector's middle half▲ 64.7%€7,299within the sector's middle half▼ 76.5%€15,986within the sector's middle half▲ 119%€4,655within the sector's middle half▼ 70.9%€4,222within the sector's middle half▼ 9.3%
Equity€97,329within the sector's middle half▲ 46.7%€104,628within the sector's middle half▲ 7.5%€120,614within the sector's middle half▲ 15.3%€125,269within the sector's middle half▲ 3.9%€121,491above the sector's middle half▼ 3.0%
Total assets€130,904within the sector's middle half▲ 16.4%€121,895within the sector's middle half▼ 6.9%€130,965within the sector's middle half▲ 7.4%€140,121within the sector's middle half▲ 7.0%€125,375within the sector's middle half▼ 10.5%
Debt€33,574▼ 27.3%€17,267▼ 48.6%€10,350▼ 40.1%€14,852▲ 43.5%€3,884▼ 73.8%
Working capital€87,286above the sector's middle half▲ 43.3%€93,594above the sector's middle half▲ 7.2%€117,146above the sector's middle half▲ 25.2%€71,209within the sector's middle half▼ 39.2%€76,683within the sector's middle half▲ 7.7%
Solvency74.4%above the sector's middle half▲ 15.4pp85.8%above the sector's middle half▲ 11.5pp92.1%above the sector's middle half▲ 6.3pp89.4%above the sector's middle half▼ 2.7pp96.9%above the sector's middle half▲ 7.5pp
Current ratio4.30above the sector's middle half▲ 1.116.73above the sector's middle half▲ 2.4313.45above the sector's middle half▲ 6.726.17above the sector's middle half▼ 7.2938.94above the sector's middle half▲ 32.77
Return on assets (ROA)23.7%above the sector's middle half▲ 6.9pp6.0%within the sector's middle half▼ 17.7pp12.2%within the sector's middle half▲ 6.2pp3.3%within the sector's middle half▼ 8.9pp3.4%within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 26% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125,375
Fixed assets
€46,671 ▼ 15.4%
Current assets
€78,705 ▼ 7.4%
Equity and liabilities €125,375
Equity
€121,491 ▼ 3.0%
Debt
€3,884 ▼ 73.8%
Debt's share of the balance-sheet total falls from 10.6% to 3.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€23,219▲
2024 · €19,144
Cash flow
€20,095▲
2024 · €17,962
Debt to equity
0.03▼
2024 · 0.12
ROE
3.5%▼
2024 · 3.7%
Interest coverage
104.44▼
2024 · 171.42
Debt ≤ 1 year
€2,021▼
2024 · €13,775
Debt > 1 year
€1,863▲
2024 · €1,076
Income taxes
€3,074▲
2024 · €1,232
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,040 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,366 | €11,447 | €8,032 | €13,308 | €15,872 | ▲ 19.3% |
| Other operating charges640/8 | €823 | €616 | €991 | €664 | €753 | ▲ 13.3% |
| Gross operating margin9900 | €55,786 | €23,741 | €32,436 | €19,808 | €23,972 | ▲ 21.0% |
| Operating profit (loss)9901 | €44,597 | €11,678 | €23,413 | €5,836 | €7,347 | ▲ 25.9% |
| Financial income75/76B | - | - | €0 | €163 | €172 | ▲ 5.5% |
| Recurring financial income75 | - | - | €0 | €163 | €172 | ▲ 5.5% |
| Financial charges65/66B | €143 | €115 | €106 | €112 | €222 | ▲ 99.1% |
| Recurring financial charges65 | €143 | €115 | €106 | €112 | €222 | ▲ 99.1% |
| Profit (loss) for the period before taxes9903 | €44,453 | €11,563 | €23,308 | €5,887 | €7,296 | ▲ 23.9% |
| Income taxes67/77 | €13,458 | €4,265 | €7,321 | €1,232 | €3,074 | ▲ 149% |
| Profit (loss) for the period9904 | €30,995 | €7,299 | €15,986 | €4,655 | €4,222 | ▼ 9.3% |
| Profit (loss) for the period to be appropriated9905 | €30,995 | €7,299 | €15,986 | €4,655 | €4,222 | ▼ 9.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €130,904 | €121,895 | €130,965 | €140,121 | €125,375 | ▼ 10.5% |
| Fixed assets21/28 | €17,195 | €11,979 | €4,413 | €55,137 | €46,671 | ▼ 15.4% |
| Tangible fixed assets22/27 | €17,169 | €11,952 | €4,386 | €55,110 | €46,644 | ▼ 15.4% |
| Plant, machinery and equipment23 | €3,695 | €7,438 | €4,386 | €6,125 | €4,989 | ▼ 18.5% |
| Furniture and vehicles24 | €13,474 | €4,515 | - | €48,985 | €41,656 | ▼ 15.0% |
| Financial fixed assets28 | €26 | €26 | €26 | €26 | €26 | = |
| Current assets29/58 | €113,709 | €109,916 | €126,552 | €84,984 | €78,705 | ▼ 7.4% |
| Amounts receivable within one year40/41 | €22,616 | €38,182 | €32,259 | €34,007 | €16,623 | ▼ 51.1% |
| Trade receivables40 | €22,294 | €32,446 | €32,259 | €34,007 | €16,264 | ▼ 52.2% |
| Other amounts receivable41 | €321 | €5,735 | - | - | €359 | - |
| Cash at bank and in hand54/58 | €89,223 | €69,552 | €87,853 | €38,251 | €54,978 | ▲ 43.7% |
| Deferred charges and accrued income490/1 | €1,870 | €2,183 | €6,440 | €12,726 | €7,104 | ▼ 44.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €130,904 | €121,895 | €130,965 | €140,121 | €125,375 | ▼ 10.5% |
| Equity10/15 | €97,329 | €104,628 | €120,614 | €125,269 | €121,491 | ▼ 3.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €78,692 | €85,991 | €101,977 | €106,632 | €102,854 | ▼ 3.5% |
| Non-distributable reserves130/1 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | - | - | - | - | - |
| Tax-exempt reserves132 | €327 | €327 | €327 | €327 | €327 | = |
| Distributable reserves133 | €76,505 | €85,664 | €101,650 | €106,305 | €102,527 | ▼ 3.6% |
| Profit (loss) carried forward14 | €37 | €37 | €37 | €37 | €37 | = |
| Amounts payable17/49 | €33,574 | €17,267 | €10,350 | €14,852 | €3,884 | ▼ 73.8% |
| Amounts payable after more than one year17 | €7,152 | €944 | €944 | €1,076 | €1,863 | ▲ 73.1% |
| Other amounts payable178/9 | €7,152 | €944 | €944 | €1,076 | €1,863 | ▲ 73.1% |
| Amounts payable within one year42/48 | €26,422 | €16,323 | €9,406 | €13,775 | €2,021 | ▼ 85.3% |
| Current portion of amounts payable after more than one year42 | €11,592 | - | - | - | - | - |
| Trade debts44 | €2,141 | €4,077 | €3,287 | €3,847 | €700 | ▼ 81.8% |
| Suppliers440/4 | €2,141 | €4,077 | €3,287 | €3,847 | €700 | ▼ 81.8% |
| Taxes, remuneration and social security45 | €12,690 | €12,246 | €6,119 | €9,928 | €1,321 | ▼ 86.7% |
| Taxes450/3 | €12,690 | €12,246 | €6,119 | €9,928 | €1,321 | ▼ 86.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,995 | €7,299 | €15,986 | €4,655 | €4,222 | ▼ 9.3% |
| + Depreciation and write-downs630 | €10,366 | €11,447 | €8,032 | €13,308 | €15,872 | ▲ 19.3% |
| Operating cash flow (approximation) | €41,361 | €18,746 | €24,018 | €17,962 | €20,095 | ▲ 11.9% |
| Investment in fixed assets (approximation) | - | -€6,231 | -€466 | -€64,032 | -€7,407 | ▲ 88.4% |
| Change in cash | - | -€19,671 | €18,301 | -€49,603 | €16,727 | ▲ 134% |
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
Next filing, fiscal year 2026, expected by
2026
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity times 6current ratio 38.94
Current ratio from 6.17 to 38.94; short-term debt falls from €13,775 to €2,021.
01-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €100,000Eq €104,628 ▲7.5%
5 profitable years in a row build equity to €104,628.
12-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Highest result since 2018net €30,995 ▲64.7%
Operating result €44,597, net result €30,995, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet €557 ▼8.3%
Net result drops to €557, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity triplescurrent ratio 4.71
Current ratio from 1.73 to 4.71; short-term debt falls from €48,034 to €10,549.
Show earlier events
23-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Vilvoorde · 1 establishment unit since 2003
Ground area
96 m²
Building footprint
70 m²
Parcel 23643G0399/00E000, Flanders. Linked by address, not a title deed.
1 establishment unit
Fish Can Fly
since 20032.132.433.053
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23643G0399/00E000 | Flanders | 96 m² | 1 · 70 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 368 companies in sector 90311 we hold annual accounts for 156. 104 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
Founded06-05-2003
Fiscal year end30-09
Activities, NACEBEL 2025
90311Arts creation and performing arts activities
18130Pre-press and pre-media services
59113Video and film production, excluding cinema and television films
62900Other information technology and computer services
62100Computer programming
74140Other specialised design activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0480152770
Registered
28-07-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.