Fire Engineered Solutions (0820.804.991): financials and annual accounts

Fire Engineered Solutions

Ghent ·KBO/BCE: BE 0820.804.991

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Balance sheet: assets
Total assets`20/58`	2.7m	2.7m	2.9m	3.2m	1.7m	2.1m	1.7m	1.1m	798,874	778,699	738,182	674,857	720,245	579,500	115,348	91,202
Formation expenses`20`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	373
Fixed assets`21/28`	279,878	362,855	172,781	129,538	97,339	628,316	281,414	254,107	283,263	295,822	282,364	281,727	301,503	330,797	20,890	7,878
Intangible fixed assets`21`	17,578	30,389	43,374	44,369	14,410	14,841	3,422	5,132	8,384	3,082	-	-	-	4,500	-	-
Tangible fixed assets`22/27`	254,705	326,699	123,240	79,002	76,662	612,875	277,593	246,332	269,876	292,741	282,364	281,727	301,503	326,297	20,890	7,505
Land and buildings`22`	-	-	-	-	0	526,457	228,405	227,936	246,631	265,326	256,296	268,940	284,760	300,580	-	-
Plant, machinery and equipment`23`	2,165	3,368	5,622	5,871	5,005	7,496	6,087	5,770	10,854	21,215	23,463	6,649	7,779	7,438	5,590	619
Furniture and vehicles`24`	102,638	155,174	117,618	73,131	71,657	78,922	43,100	12,625	12,391	6,199	2,605	6,138	8,964	18,279	15,300	6,886
Other tangible fixed assets`26`	149,902	168,157	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financial fixed assets`28`	7,595	5,767	6,167	6,167	6,267	600	400	2,643	5,003	-	-	-	-	-	-	-
Current assets`29/58`	2.5m	2.4m	2.7m	3.1m	1.6m	1.4m	1.4m	841,714	515,611	482,877	455,818	393,130	418,742	248,703	94,458	83,324
Amounts receivable after more than one year`29`	25,311	37,699	57,828	100,828	-	-	-	-	-	-	-	-	-	-	-	-
Other amounts receivable`291`	25,311	37,699	57,828	100,828	-	-	-	-	-	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	2.1m	1.7m	2.2m	2.2m	1.1m	700,951	564,604	470,118	440,905	362,954	385,655	275,982	261,443	157,119	54,864	59,366
Trade receivables`40`	2.0m	1.6m	2.0m	1.9m	560,421	697,825	537,268	393,183	329,913	334,141	365,232	275,982	261,443	157,119	52,901	59,366
Other amounts receivable`41`	58,692	96,987	119,973	341,226	545,571	3,125	27,337	76,936	110,992	28,813	20,422	-	-	-	1,962	-
Cash at bank and in hand`54/58`	356,161	614,378	451,678	692,255	314,474	728,820	789,625	362,395	69,208	119,923	70,164	117,148	157,299	91,584	39,595	23,958
Deferred charges and accrued income`490/1`	5,643	18,353	47,385	18,169	216,151	445	18,418	9,201	5,499	-	-	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	2.7m	2.7m	2.9m	3.2m	1.7m	2.1m	1.7m	1.1m	798,874	778,699	738,182	674,857	720,245	579,500	115,348	91,202
Equity`10/15`	1.6m	1.6m	1.6m	1.8m	913,712	69,395	69,395	69,395	69,395	149,921	106,807	103,444	8,591	103,392	57,146	26,921
Contributions`10/11`	18,600	18,600	18,600	18,600	18,600	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Reserves`13`	1.5m	1.5m	1.5m	1.8m	895,112	63,195	63,195	63,195	63,195	143,721	100,607	97,244	2,391	97,192	50,946	20,721
Non-distributable reserves`130/1`	-	-	0	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Reserves not available under the articles`1311`	-	-	0	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	1.5m	1.5m	1.5m	1.8m	893,252	61,335	61,335	61,335	61,335	141,861	98,747	95,384	531	95,332	49,086	18,861
Profit (loss) carried forward`14`	0	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-
Provisions and deferred taxes`16`	0	1,500	1,500	560,382	-	-	-	-	-	-	-	-	-	-	-	-
Provisions for liabilities and charges`160/5`	0	1,500	1,500	560,382	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities and charges`164/5`	0	1,500	1,500	560,382	-	-	-	-	-	-	-	-	-	-	-	-
Amounts payable`17/49`	1.2m	1.2m	1.3m	838,672	820,246	2.0m	1.6m	1.0m	729,479	628,778	631,376	571,413	711,654	476,109	58,201	64,281
Amounts payable after more than one year`17`	799	5,555	10,251	14,886	0	288,857	160,417	370,917	399,917	247,417	276,417	205,417	234,417	-	-	-
Financial debts`170/4`	799	5,555	10,251	14,886	0	288,857	160,417	370,917	399,917	247,417	276,417	205,417	234,417	-	-	-
Amounts payable within one year`42/48`	1.1m	1.1m	1.2m	691,919	401,836	1.5m	1.4m	655,509	329,234	381,361	354,959	365,996	477,237	476,109	58,201	64,281
Current portion of amounts payable after more than one year`42`	4,756	4,696	4,636	17,646	0	70,238	32,371	42,371	44,787	42,371	42,371	50,974	38,930	10,046	10,044	-
Financial debts`43`	1,942	1,218	850	287	13,435	0	10,037	-	-	1,983	2,423	1,184	1,879	-	3,977	-
Credit institutions`430/8`	1,942	139	850	287	13,435	0	10,037	-	-	1,983	2,423	1,184	1,879	-	3,977	-
Other loans`439`	0	1,080	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade debts`44`	205,106	199,973	455,824	331,332	64,561	105,985	204,976	222,919	198,675	127,155	22,312	107,500	44,711	391,333	11,121	3,858
Suppliers`440/4`	205,106	199,973	455,824	331,332	64,561	105,985	204,976	222,919	198,675	127,155	22,312	107,500	44,711	391,333	11,121	3,858
Advances received on contracts in progress`46`	-	-	-	-	-	-	-	-	294	15,065	15,065	31,049	15,064	-	-	-
Taxes, remuneration and social security`45`	344,924	299,277	482,792	342,654	323,840	216,152	185,771	71,295	48,772	11,179	39,968	68,305	125,039	14,929	31,885	31,088
Taxes`450/3`	89,830	20,566	109,780	99,998	128,678	124,251	115,738	20,765	6,674	11,179	31,847	60,766	119,124	10,513	31,885	31,088
Remuneration and social security`454/9`	255,095	278,711	373,012	242,656	195,162	91,901	70,033	50,530	42,098	-	8,121	7,539	5,915	4,415	-	-
Other amounts payable`47/48`	574,089	546,771	300,000	-	0	1.1m	991,095	318,924	36,706	183,609	232,819	106,984	251,614	59,802	1,174	29,335
Accrued charges and deferred income`492/3`	30,666	102,423	86,395	131,867	418,409	184,400	-	-	327	-	-	-	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	0	19,652	3,000	1,128	-	5,195	-	-	-	-	-	-	-
Gross operating margin`9900`	2.7m	2.7m	2.6m	3.3m	2.4m	1.8m	1.6m	868,063	435,475	516,967	351,635	412,841	389,801	173,288	56,849	68,769
Remuneration, social security and pensions`62`	2.0m	2.0m	2.5m	1.6m	1.4m	992,076	713,429	540,905	463,924	241,373	170,280	134,847	86,897	30,653	1,764	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	103,702	84,235	61,727	39,160	33,860	55,670	45,246	32,735	42,847	39,742	31,819	23,600	33,968	71,701	9,640	3,880
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	-	-	0	9,213	-	-	-	5,363	5,276	-	-	-	-
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-1,500	0	-558,882	560,382	-	-	-	-	-	-	-	-	-	-	-	-
Other operating charges`640/8`	7,304	31,809	20,411	3,452	5,632	4,561	4,783	4,623	5,443	5,418	4,649	7,997	1,899	2,048	1,153	428
Non-recurring operating charges`66A`	1,007	2,186	-	0	26,249	100	-	-	-	-	-	-	-	-	-	-
Operating profit (loss)`9901`	565,494	576,305	591,043	1.1m	994,467	766,277	801,499	289,799	-76,738	230,435	139,523	241,121	267,037	68,887	44,292	64,462
Financial income`75/76B`	2,139	394	197	8	376	35	405	128	5,357	93	101	391	161	156	24	-
Recurring financial income`75`	2,139	394	197	8	376	35	405	128	162	93	101	391	161	156	24	-
Non-recurring financial income`76B`	-	-	-	-	-	-	-	-	5,195	-	-	-	-	-	-	-
Financial charges`65/66B`	24,983	31,019	22,413	8,337	19,521	6,893	4,477	7,404	8,802	8,823	9,760	8,793	12,008	3,057	984	552
Recurring financial charges`65`	24,983	31,019	22,413	8,337	19,521	6,893	4,477	7,404	8,802	8,823	9,760	8,793	12,008	3,057	984	552
Profit (loss) for the period before taxes`9903`	542,650	545,680	568,827	1.1m	975,321	759,419	797,427	282,523	-80,183	221,705	129,864	232,719	255,190	65,986	43,332	63,910
Income taxes`67/77`	149,484	151,345	154,772	255,785	143,404	44,950	129,927	1,072	343	28,590	6,502	55,366	85,991	19,740	13,107	23,189
Profit (loss) for the period`9904`	393,166	394,335	414,055	873,087	831,917	714,469	667,500	281,451	-80,527	193,115	123,362	177,353	169,199	46,246	30,225	40,721
Profit (loss) for the period to be appropriated`9905`	393,166	394,335	414,055	873,087	831,917	714,469	667,500	281,451	-80,527	193,115	123,362	177,353	169,199	46,246	30,225	40,721
Appropriation of the result
Profit (loss) to be appropriated`9906`	393,166	394,335	414,055	873,087	831,917	714,469	667,500	281,451	-80,527	193,115	123,362	177,353	169,199	46,246	30,225	40,721
Transfer from equity`791/2`	-	0	350,000	-	-	-	-	-	80,527	-	-	-	95,000	-	-	-
Transfer to equity`691/2`	8,166	9,335	114,055	873,087	831,917	-	-	-	-	43,115	3,362	94,853	199	46,246	30,225	20,721
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,860
To other reserves`6921`	8,166	9,335	114,055	873,087	831,917	-	-	-	-	43,115	3,362	94,853	199	46,246	30,225	18,861
Profit to be distributed`694/7`	385,000	385,000	650,000	-	0	714,469	667,500	281,451	-	150,000	120,000	82,500	264,000	-	-	20,000
Return on contributions (dividend)`694`	385,000	385,000	650,000	-	0	285,469	367,500	281,451	-	-	-	-	264,000	-	-	20,000
Directors or managers`695`	-	-	-	-	0	429,000	300,000	-	-	150,000	120,000	82,500	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	21.2	21	21.9	20.5	18	14.7	11.3	3.8	7.4	4.8	3.7	2.7	2	0.7	-	-
Hours worked`1013`	37,243	35,621	35,911	35,146	32,368	-	19,920	6,512	12,496	8,296	6,018	4,887	3,578	1,447	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	22-07-2026	2026-00316310	PDF
31-12-2024	abbreviated format	30-06-2025	2025-00197485	PDF
31-12-2023	abbreviated format	26-05-2025	2025-00107163	PDF
31-12-2022	abbreviated format	30-06-2023	2023-00193302	PDF
31-12-2021	abbreviated format	17-10-2022	2022-20466455	PDF
31-12-2020	abbreviated format	20-07-2021	2021-37900279	PDF
31-12-2019	abbreviated format	30-10-2020	2020-66800024	PDF
31-12-2018	abbreviated format	01-07-2019	2019-26000036	PDF
31-12-2017	abbreviated format	28-08-2018	2018-52200451	PDF
31-12-2016	abbreviated format	28-08-2017	2017-51000358	PDF
31-12-2015	abbreviated format	25-08-2016	2016-48500113	PDF
31-12-2014	abbreviated format	17-08-2015	2015-43400221	PDF
31-12-2013	abbreviated format	25-06-2014	2014-21700206	PDF
31-12-2012	abbreviated format	28-08-2013	2013-51100187	PDF
31-12-2011	abbreviated format	30-07-2012	2012-36600415	PDF
31-12-2010	abbreviated format	27-06-2011	2011-22000074	PDF

Year	Entries	Awarded	Paid
2025	2	€0	€0
2024	1	€5,401	€0

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
EBITDA	669,196	660,540	652,770	1.2m	1.0m	821,946	846,745	322,534	-33,891	270,177	171,342	264,721	301,005	140,588	53,932	68,342
Cash flow	496,868	478,570	475,782	912,246	865,777	770,138	712,746	314,186	-37,680	232,857	155,181	200,953	203,167	117,946	39,865	44,601
Investment in fixed assets	23,519	276,894	105,070	71,558	29,640	402,572	75,196	5,939	30,287	53,201	32,456	3,824	4,674	381,608	22,652	10,862
Change in cash	-258,217	162,700	-240,577	377,781	-414,346	-60,805	427,231	293,187	-50,715	49,759	-46,984	-40,151	65,715	51,990	15,637	-
Working capital	1.3m	1.3m	1.5m	2.4m	1.2m	-85,664	-51,602	186,205	186,377	101,516	100,860	27,134	-58,495	-227,405	36,257	19,043
Solvency	57.4%	57.3%	53.6%	56.1%	52.7%	3.4%	4.2%	6.3%	8.7%	19.3%	14.5%	15.3%	1.2%	17.8%	49.5%	29.5%
Current ratio	2.17	2.24	2.19	4.42	4.07	0.94	0.96	1.28	1.57	1.27	1.28	1.07	0.88	0.52	1.62	1.30
Debt to equity	0.74	0.74	0.86	0.47	0.90	28.66	22.84	14.79	10.51	4.19	5.91	5.52	82.84	4.60	1.02	2.39
ROE	25.1%	25.3%	26.7%	48.9%	91.0%	-	961.9%	405.6%	-116.0%	128.8%	115.5%	171.4%	-	44.7%	52.9%	151.3%
ROA	14.4%	14.5%	14.3%	27.4%	48.0%	34.7%	40.4%	25.7%	-10.1%	24.8%	16.7%	26.3%	23.5%	8.0%	26.2%	44.6%
Interest coverage	26.79	21.29	29.12	over 100	52.68	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	23	20	23	22	21
full-time	22	18	22	19	19
part-time	1	2	1	3	2
in full-time equivalents	22.9	19.7	22.9	20.6	20.7
Average over the year, in full-time equivalents	21.2	21	21.9	20.5	18
On a permanent contract	23	20	23	20	21
Joined	13	8	18	9	19
Left	10	11	17	8	14
Training hours	32	-	-	-	-

Fire Engineered Solutions

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency57.4%

Current ratio2.17

Return on assets14.4%

Staff

Staff cost per FTE€93,741

Joined and left+3

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2024 to 2025, 3 entries, €5,401 awarded

Key figures and ratios

Social balance sheet

Investments

Insights on Fire Engineered Solutions

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€19,357	€276,894	€93,090	€36,441	€18,948
Intangible fixed assets	-	-	€11,880	€35,017	€4,725
Financial fixed assets	€4,162	€0	€100	€100	€5,967
Depreciation and write-downs of the year	€103,702	€84,235	€61,727	€39,160	€33,860