FGL-Projects
ActiveSummary
FGL-Projects has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €637k and a net result of €8k. Equity is shrinking by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 56% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-11
Solvency87▲+3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity short (current ratio 0.11 against 0.07 in 2024; short-term debt: 35% and cash: 0.6% of total assets), and 37.7% of the assets are financed with debt.
Credit check for your own amount and term
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
62.3%
Return on assets
0.8%
Age of the figures
18 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 29-11-2025, 29 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
29 d late
2024
on the day
2023
on the day
2022
3 d early
2021
31 d early
2020
4 d early
2019
6 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€637k▲ 1.3%
2024 · €629k
2019: €838khighest in 7 years
2020: €753k▼ -10.2% vs 2019
2021: €768k▲ +2.0% vs 2020
2022: €619k▼ -19.4% vs 2021
2023: €603k▼ -2.5% vs 2022lowest in 7 years
2024: €629k▲ +4.2% vs 2023
2025: €637k▲ +1.3% vs 2024
2019 → 2025
Total assets
€1.02M▼ 4.6%
2024 · €1.07M
2019: €1.79Mhighest in 7 years
2020: €1.66M▼ -7.3% vs 2019
2021: €1.30M▼ -21.7% vs 2020
2022: €1.15M▼ -11.6% vs 2021
2023: €1.10M▼ -4.1% vs 2022
2024: €1.07M▼ -2.5% vs 2023
2025: €1.02M▼ -4.6% vs 2024lowest in 7 years
2019 → 2025
Net result
€8k▼ 67.6%
2024 · €26k
2019: €284khighest in 7 years
2020: €55k▼ -80.5% vs 2019
2021: €15k▼ -72.7% vs 2020
2022: €41k▲ +172% vs 2021
2023: €53k▲ +27.9% vs 2022
2024: €26k▼ -51.5% vs 2023
2025: €8k▼ -67.6% vs 2024lowest in 7 years
2019 → 2025
Working capital
€-321k▲ 16.7%
2024 · €-385k
2019: €-131khighest in 7 years
2020: €-218k▼ -66.3% vs 2019
2021: €-195k▲ +10.8% vs 2020
2022: €-343k▼ -76.3% vs 2021
2023: €-372k▼ -8.4% vs 2022
2024: €-385k▼ -3.4% vs 2023lowest in 7 years
2025: €-321k▲ +16.7% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€768k-€619k▼ 19.4%€603k▼ 2.5%€629k▲ 4.2%€637k▲ 1.3%
2021: €768khighest in 5 years
2022: €619k▼ -19.4% vs 2021
2023: €603k▼ -2.5% vs 2022lowest in 5 years
2024: €629k▲ +4.2% vs 2023
2025: €637k▲ +1.3% vs 2024
Operating result€38k-€73k▲ 93.1%€97k▲ 32.4%€58k▼ 40.1%€29k▼ 49.5%
2021: €38k
2022: €73k▲ +93.1% vs 2021
2023: €97k▲ +32.4% vs 2022highest in 5 years
2024: €58k▼ -40.1% vs 2023
2025: €29k▼ -49.5% vs 2024lowest in 5 years
Net result€15k-€41k▲ 172%€53k▲ 27.9%€26k▼ 51.5%€8k▼ 67.6%
2021: €15k
2022: €41k▲ +172% vs 2021
2023: €53k▲ +27.9% vs 2022highest in 5 years
2024: €26k▼ -51.5% vs 2023
2025: €8k▼ -67.6% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 50% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.02M
Fixed assets
€986k ▼ 5.5%
Current assets
€38k ▲ 26.7%
Equity and liabilities €1.02M
Equity
€637k ▲ 1.3%
Provisions
€6k ▼ 1.1%
Debt
€380k ▼ 13.2%
Debt's share of the balance-sheet total falls from 40.8% to 37.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€87k▼
2024 · €119k
Cash flow
€66k▼
2024 · €87k
Current ratio
0.11▲
2024 · 0.07
Debt to equity
0.60▼
2024 · 0.70
ROE
1.3%▼
2024 · 4.1%
ROA
0.8%▼
2024 · 2.4%
Interest coverage
4.37▼
2024 · 5.45
Debt ≤ 1 year
€358k▼
2024 · €415k
Debt > 1 year
€5k=
2024 · €5k
Income taxes
€5k▼
2024 · €11k
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 · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.07M€1.02M▼
Fixed assets21/28€1.04M€986k▼
Tangible fixed assets22/27€1.04M€986k▼
Land and buildings22€1.03M€971k▼
Plant, machinery and equipment23€13k€11k▼
Furniture and vehicles24€4k€4k▼
Current assets29/58€30k€38k▲
Amounts receivable within one year40/41€29k€31k▲
Trade receivables40€21k€12k▼
Other amounts receivable41€8k€19k▲
Cash at bank and in hand54/58-€6k
Deferred charges and accrued income490/1€683€683=
Equity and liabilities
Total equity and liabilities10/49€1.07M€1.02M▼
Equity10/15€629k€637k▲
Contributions10/11€16k€16k=
Reserves13€613k€620k▲
Tax-exempt reserves132€48k€48k▼
Distributable reserves133€564k€572k▲
Profit (loss) carried forward14€650€1k▲
Provisions and deferred taxes16€6k€6k▼
Deferred taxes168€6k€6k▼
Amounts payable17/49€438k€380k▼
Amounts payable after more than one year17€5k€5k=
Financial debts170/4€5k€5k=
Amounts payable within one year42/48€415k€358k▼
Current portion of amounts payable after more than one year42€53k-
Financial debts43€7k-
Credit institutions430/8€7k-
Trade debts44€1k€5k▲
Suppliers440/4€1k€5k▲
Taxes, remuneration and social security45€15k€6k▼
Taxes450/3€15k€6k▼
Other amounts payable47/48€339k€348k▲
Accrued charges and deferred income492/3€18k€17k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€62k€58k▼
Other operating charges640/8€5k€10k▲
Gross operating margin9900€125k€96k▼
Operating profit (loss)9901€58k€29k▼
Financial income75/76B-€4k
Recurring financial income75-€4k
Non-recurring financial income76B-€4k
Financial charges65/66B€22k€20k▼
Recurring financial charges65€22k€20k▼
Profit (loss) for the period before taxes9903€36k€13k▼
Transfer from deferred taxes780€71€71=
Income taxes67/77€11k€5k▼
Profit (loss) for the period9904€26k€8k▼
Transfer from tax-exempt reserves789€137€137=
Profit (loss) for the period to be appropriated9905€26k€8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€26k€9k▼
Profit (loss) brought forward from the previous period14P-€650
Transfer to equity691/2€25k€8k▼
To other reserves6921€25k€8k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €21k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59k | €58k | €63k | €62k | €58k | ▼ 6.2% |
| Other operating charges640/8 | - | €9k | €7k | €5k | €10k | ▲ 83.4% |
| Gross operating margin9900 | €104k | €140k | €167k | €125k | €96k | ▼ 22.6% |
| Operating profit (loss)9901 | €38k | €73k | €97k | €58k | €29k | ▼ 49.5% |
| Financial income75/76B | - | €2 | €0 | - | €4k | - |
| Recurring financial income75 | €511 | €2 | €0 | - | €4k | - |
| Non-recurring financial income76B | - | - | - | - | €4k | - |
| Financial charges65/66B | - | €16k | €18k | €22k | €20k | ▼ 9.2% |
| Recurring financial charges65 | €17k | €16k | €18k | €22k | €20k | ▼ 9.2% |
| Profit (loss) for the period before taxes9903 | €22k | €57k | €79k | €36k | €13k | ▼ 63.0% |
| Transfer from deferred taxes780 | - | €71 | €71 | €71 | €71 | = |
| Transfer to deferred taxes680 | - | €5k | €0 | - | - | - |
| Income taxes67/77 | €7k | €11k | €26k | €11k | €5k | ▼ 51.4% |
| Profit (loss) for the period9904 | €15k | €41k | €53k | €26k | €8k | ▼ 67.6% |
| Transfer from tax-exempt reserves789 | - | €137 | €137 | €137 | €137 | = |
| Transfer to tax-exempt reserves689 | - | €14k | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €15k | €28k | €53k | €26k | €8k | ▼ 67.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.30M | €1.15M | €1.10M | €1.07M | €1.02M | ▼ 4.6% |
| Fixed assets21/28 | €1.16M | €1.10M | €1.06M | €1.04M | €986k | ▼ 5.5% |
| Tangible fixed assets22/27 | €1.16M | €1.10M | €1.06M | €1.04M | €986k | ▼ 5.5% |
| Land and buildings22 | - | €1.09M | €1.05M | €1.03M | €971k | ▼ 5.4% |
| Plant, machinery and equipment23 | - | - | €2k | €13k | €11k | ▼ 14.2% |
| Furniture and vehicles24 | - | €11k | €7k | €4k | €4k | ▼ 14.4% |
| Financial fixed assets28 | - | - | €700 | - | - | - |
| Current assets29/58 | €143k | €48k | €44k | €30k | €38k | ▲ 26.7% |
| Amounts receivable within one year40/41 | €17k | €21k | €26k | €29k | €31k | ▲ 6.3% |
| Trade receivables40 | - | €21k | €22k | €21k | €12k | ▼ 43.9% |
| Other amounts receivable41 | - | - | €4k | €8k | €19k | ▲ 147% |
| Cash at bank and in hand54/58 | €124k | €24k | €16k | - | €6k | - |
| Deferred charges and accrued income490/1 | - | €3k | €2k | €683 | €683 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.30M | €1.15M | €1.10M | €1.07M | €1.02M | ▼ 4.6% |
| Equity10/15 | €768k | €619k | €603k | €629k | €637k | ▲ 1.3% |
| Contributions10/11 | - | €16k | €16k | €16k | €16k | = |
| Reserves13 | €752k | €603k | €588k | €613k | €620k | ▲ 1.3% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €48k | €48k | €48k | €48k | ▼ 0.3% |
| Distributable reserves133 | - | €555k | €539k | €564k | €572k | ▲ 1.4% |
| Profit (loss) carried forward14 | - | - | - | €650 | €1k | ▲ 62.4% |
| Provisions and deferred taxes16 | €2k | €6k | €6k | €6k | €6k | ▼ 1.1% |
| Deferred taxes168 | - | €6k | €6k | €6k | €6k | ▼ 1.1% |
| Amounts payable17/49 | €529k | €523k | €491k | €438k | €380k | ▼ 13.2% |
| Amounts payable after more than one year17 | €178k | €118k | €58k | €5k | €5k | = |
| Financial debts170/4 | - | €118k | €58k | €5k | €5k | = |
| Amounts payable within one year42/48 | €338k | €391k | €417k | €415k | €358k | ▼ 13.6% |
| Current portion of amounts payable after more than one year42 | - | €60k | €60k | €53k | - | - |
| Financial debts43 | - | - | - | €7k | - | - |
| Credit institutions430/8 | - | - | - | €7k | - | - |
| Trade debts44 | €748 | €2k | €3k | €1k | €5k | ▲ 313% |
| Suppliers440/4 | - | €2k | €3k | €1k | €5k | ▲ 313% |
| Taxes, remuneration and social security45 | - | €22k | €28k | €15k | €6k | ▼ 64.2% |
| Taxes450/3 | - | €22k | €28k | €15k | €6k | ▼ 64.2% |
| Other amounts payable47/48 | - | €308k | €326k | €339k | €348k | ▲ 2.7% |
| Accrued charges and deferred income492/3 | - | €14k | €17k | €18k | €17k | ▼ 8.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €41k | €53k | €26k | €8k | ▼ 67.6% |
| + Depreciation and write-downs630 | €59k | €58k | €63k | €62k | €58k | ▼ 6.2% |
| Operating cash flow (approximation) | €74k | €99k | €116k | €87k | €66k | ▼ 24.2% |
| Investment in fixed assets (approximation) | - | €-3k | €-19k | €-49k | €0 | ▲ 100% |
| Change in cash | - | €-100k | €-8k | - | - | - |
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
2025
29-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
31-03
Financial
Weakest financial yearnet €8k ▼67.6%
Net result drops to €8k, the lowest in the series.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
25-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
24-10
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, Hooglede · 1 establishment unit since 2008
Ground area
1,030 m²
Building footprint
233 m²
Volume, LiDAR
831 m³
Parcel 36005C0687/00K004, Flanders · tallest building 5.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
FGL-PROJECTS
since 20082.171.050.535
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36005C0687/00K004 | Flanders | 1,030 m² | 1 · 233 m² | 5.7 m · 1 fl. |
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.
Similar companies · same sector, comparable size
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CLIMACT
BE 0892.272.118
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F.R.A.
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WE CONSULT
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 32,503 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
Founded13-05-2008
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.