FGL-Projects
ActiveSummary
FGL-Projects has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €642,953 and a net result of €5,739. Equity has been shrinking by about 3.6% per year since 2019. Its solvency ranks better than 59% of 475 sector peers (NACE 70, financial year 2026). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 13-05-2008 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.171.050.535 8830 Hooglede, since 15-05-2008
- Financial year end
- 31 March
- Peppol
- Reachable since 03-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €92,061
- ▼ 4.6%
- Turnover
- ≈ €180,000
- estimated
- Profit
- €5,739
- ▼ 30.6%
- Equity
- €642,953
- ▲ 0.9%
- Total assets
- €1.0m
- ▼ 1.4%
Score breakdownraises risk1 change of registered office in 24 monthslowers riskSize: total assets €1.0mFigures for financial year 2026 (filed on 10-10-2026)Sector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 59% of them on solvency, 19% on liquidity, 24% on profitability and 43% on growth.
The bankruptcy probability was computed on 01-11-2026 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
The company filed its last 7 accounts on average 4 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 10-10-2026 at the NBB all 17 filings
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
The operating result for 2026 is 51% higher than in 2025. It is a recovery after the fall in 2025.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €177,500 | €117,500 | - | - | - |
| Mortgages, amount registered | €660,000 | €660,000 | - | - | - |
| Mortgage mandates | €605,000 | €605,000 | - | - | - |
| Carrying value of the mortgaged assets | €1.1m | €1.0m | - | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,978 | €18,529 | €49,201 | - | €6,998 |
| Financial fixed assets | - | €700 | - | - | - |
| Depreciation and write-downs of the year | €58,226 | €63,105 | €61,519 | €57,707 | €41,781 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as FGL-Projects: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €925,000 and €1.1m, founded between 2006 and 2009.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| FGL-Projects Hooglede | 2008 | €1.0m | €0.6m | €0.09m | €0.006m | 2026 |
| Mathis Pharma Brugge | 2006 | €1.1m | €0.6m | €0.09m | €0.07m | 2025 |
| DECORTE Gistel | 2008 | €1.1m | €0.9m | €0.1m | €0.02m | 2025 |
| Flanders Investment Group Knokke-Heist | 2008 | €1.0m | €0.5m | €0.1m | €0.04m | 2025 |
| MANADIM Roeselare | 2009 | €1.1m | €0.8m | €0.1m | €0.1m | 2025 |
| O. PETIT & CO Knokke-Heist | 2006 | €1.1m | €0.7m | €0.1m | €0.06m | 2025 |
| SAMANCO Oostkamp | 2006 | €0.9m | €0.8m | €0.1m | €0.08m | 2025 |
They were chosen from the 54,697 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 6,049 companies had the same profile as FGL-Projects has now. Two years later, 0.4% had gone bankrupt and 96.0% were still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of FGL-Projects itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,445 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 6,049 companies, not a prediction for FGL-Projects. 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €21,000 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €96,064 | €80,166 | €58,986 | €58,226 | €63,105 | €61,519 | €57,707 | €41,781 | ▼ 27.6% |
| Other operating charges640/8 | - | - | - | €9,025 | €6,843 | €5,196 | €9,529 | €5,999 | ▼ 37.0% |
| Gross operating margin9900 | €828,633 | €573,802 | €103,635 | €140,276 | €166,657 | €124,638 | €96,479 | €92,061 | ▼ 4.6% |
| Operating profit (loss)9901 | €422,466 | €104,908 | €37,818 | €73,024 | €96,709 | €57,923 | €29,243 | €44,281 | ▲ 51.4% |
| Financial income75/76B | - | - | - | €2 | €0 | - | €4,000 | €3 | ▼ 99.9% |
| Recurring financial income75 | €339 | €1 | €511 | €2 | €0 | - | €4,000 | €3 | ▼ 99.9% |
| Non-recurring financial income76B | - | - | - | - | - | - | €4,000 | €3 | ▼ 99.9% |
| Financial charges65/66B | - | - | - | €15,951 | €18,065 | €21,928 | €19,919 | €21,928 | ▲ 10.1% |
| Recurring financial charges65 | €30,764 | €25,016 | €16,739 | €15,951 | €18,065 | €21,928 | €19,919 | €21,928 | ▲ 10.1% |
| Profit (loss) for the period before taxes9903 | €392,041 | €79,892 | €21,590 | €57,075 | €78,644 | €35,994 | €13,324 | €22,356 | ▲ 67.8% |
| Transfer from deferred taxes780 | - | - | - | €71 | €71 | €71 | €71 | €71 | = |
| Transfer to deferred taxes680 | - | - | - | €4,594 | €0 | - | - | - | - |
| Income taxes67/77 | €108,556 | €24,571 | €6,525 | €11,392 | €26,089 | €10,553 | €5,127 | €16,688 | ▲ 225% |
| Profit (loss) for the period9904 | €283,556 | €55,392 | €15,136 | €41,161 | €52,626 | €25,512 | €8,268 | €5,739 | ▼ 30.6% |
| Transfer from tax-exempt reserves789 | - | - | - | €137 | €137 | €137 | €137 | €137 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €13,781 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €283,644 | €55,493 | €15,274 | €27,517 | €52,763 | €25,650 | €8,405 | €5,876 | ▼ 30.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.8m | €1.7m | €1.3m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | ▼ 1.4% |
| Fixed assets21/28 | €1.3m | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | ▼ 3.5% |
| Intangible fixed assets21 | €0.006m | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €1.3m | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | ▼ 3.5% |
| Land and buildings22 | - | - | - | €1.1m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 4.0% |
| Plant, machinery and equipment23 | - | - | - | - | €0.002m | €0.01m | €0.01m | €0.01m | ▼ 12.7% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.007m | €0.004m | €0.004m | €0.009m | ▲ 147% |
| Financial fixed assets28 | - | - | - | - | €0.001m | - | - | - | - |
| Current assets29/58 | €0.5m | €0.4m | €0.1m | €0.05m | €0.04m | €0.03m | €0.04m | €0.06m | ▲ 53.3% |
| Amounts receivable within one year40/41 | €0.3m | €0.1m | €0.02m | €0.02m | €0.03m | €0.03m | €0.03m | €0.01m | ▼ 56.9% |
| Trade receivables40 | - | - | - | €0.02m | €0.02m | €0.02m | €0.01m | €0.01m | ▲ 10.7% |
| Other amounts receivable41 | - | - | - | - | €0.004m | €0.008m | €0.02m | €18 | ▼ 99.9% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.1m | €0.02m | €0.02m | - | €0.006m | €0.04m | ▲ 551% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.002m | €0.001m | €0.001m | €0.005m | ▲ 576% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.8m | €1.7m | €1.3m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | ▼ 1.4% |
| Equity10/15 | €0.8m | €0.8m | €0.8m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 0.9% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.8m | €0.7m | €0.8m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 0.9% |
| Non-distributable reserves130/1 | - | - | - | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▼ 0.3% |
| Distributable reserves133 | - | - | - | €0.6m | €0.5m | €0.6m | €0.6m | €0.6m | ▲ 1.0% |
| Profit (loss) carried forward14 | - | - | - | - | - | €0.001m | €0.001m | €0.001m | ▲ 2.5% |
| Provisions and deferred taxes16 | €0.002m | €0.002m | €0.002m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | ▼ 1.1% |
| Deferred taxes168 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | ▼ 1.1% |
| Amounts payable17/49 | €0.9m | €0.9m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 5.4% |
| Amounts payable after more than one year17 | €0.3m | €0.2m | €0.2m | €0.1m | €0.06m | €0.005m | €0.005m | - | - |
| Financial debts170/4 | - | - | - | €0.1m | €0.06m | €0.005m | €0.005m | - | - |
| Amounts payable within one year42/48 | €0.6m | €0.7m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 0.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.06m | €0.05m | - | - | - |
| Financial debts43 | - | - | - | - | - | €0.007m | - | - | - |
| Credit institutions430/8 | - | - | - | - | - | €0.007m | - | - | - |
| Trade debts44 | €0.07m | €0.02m | €0.001m | €0.002m | €0.003m | €0.001m | €0.005m | €0.003m | ▼ 48.1% |
| Suppliers440/4 | - | - | - | €0.002m | €0.003m | €0.001m | €0.005m | €0.003m | ▼ 48.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.03m | €0.02m | €0.006m | €0.01m | ▲ 83.9% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.02m | €0.006m | €0.01m | ▲ 83.9% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €283,556 | €55,392 | €15,136 | €41,161 | €52,626 | €25,512 | €8,268 | €5,739 | ▼ 30.6% |
| + Depreciation and write-downs630 | €96,064 | €80,166 | €58,986 | €58,226 | €63,105 | €61,519 | €57,707 | €41,781 | ▼ 27.6% |
| Operating cash flow (approximation) | €379,619 | €135,558 | €74,122 | €99,387 | €115,730 | €87,031 | €65,975 | €47,520 | ▼ 28.0% |
| Investment in fixed assets (approximation) | - | €5,263 | -€1,647 | -€2,978 | -€19,229 | -€48,501 | €0 | -€6,998 | - |
| Change in cash | - | €161,806 | -€197,422 | -€99,698 | -€7,971 | - | - | €33,735 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 10-10-2026 | 2026-00553089 | NBB |
| 31-03-2025 | micro format | 29-11-2025 | 2025-00572968 | |
| 31-03-2024 | micro format | 31-10-2024 | 2024-00521905 | |
| 31-03-2023 | abbreviated format | 31-10-2023 | 2023-00498760 | |
| 31-03-2022 | abbreviated format | 28-10-2022 | 2022-20474847 | |
| 31-03-2021 | abbreviated format | 30-09-2021 | 2021-69200518 | |
| 31-03-2020 | abbreviated format | 27-10-2020 | 2020-63200484 | |
| 31-03-2019 | abbreviated format | 25-10-2019 | 2019-71200444 | |
| 31-03-2018 | abbreviated format | 30-10-2018 | 2018-70500234 | |
| 31-03-2017 | abbreviated format | 31-10-2017 | 2017-68200380 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| LEENKNEGT Filip |
|
| SAELENS Greet |
|
Network & group
FGL-Projects shares no director with another company.
Companies at the same address
2 other companiesConnections & network
2 current directorsThe network starts from the directors of FGL-Projects. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
05-10
Gazette deed
Registered office moved within HoogledeDirector in office3 points ▸
- Board meeting, 10-09-2026
- Registered-office move, 8830 Hooglede,Gitsbergstraat 85 bus D
- Director in office, Filip Leenknegt (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 36005C0687/00E002 | Flanders | 928 m² | 1 · 195 m² | 9.4 m · 2 |