FISABEL
ActiveSummary
FISABEL has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €710,177 and a net result of €74,630. Equity is growing by ~13.1% per year across the filed fiscal years. Its solvency ranks better than 82% of 4886 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▼-2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity ample (current ratio 4.36 against 9.18 in 2024; short-term debt: 22.9% and cash: 80.4% of total assets), and 23.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
76.8%
Return on assets
8.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-04-2026, 108 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
108 d early
2024
49 d early
2023
48 d early
2022
32 d early
2021
48 d early
2020
46 d early
2019
50 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#3 company by equity in Walhain, Wholesale and retail trade sector#9 company by total assets in Walhain, Wholesale and retail trade sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€74,630▲ 6.0%
2024 · €70,435
Working capital
€711,916▲ 11.8%
2024 · €636,879
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€175,019▲ 112%€126,300▼ 27.8%€88,611▼ 29.8%€86,358▼ 2.5%€90,816▲ 5.2%
Net result€117,585▲ 115%€84,021▼ 28.5%€65,102▼ 22.5%€70,435▲ 8.2%€74,630▲ 6.0%
Equity€477,989▲ 32.6%€562,009▲ 17.6%€565,112▲ 0.6%€635,546▲ 12.5%€710,177▲ 11.7%
Total assets€576,268▲ 13.1%€569,756▼ 1.1%€609,045▲ 6.9%€715,913▲ 17.5%€924,805▲ 29.2%
Debt€98,280▼ 34.0%€7,747▼ 92.1%€43,934▲ 467%€80,367▲ 82.9%€214,628▲ 167%
Working capital€471,186▲ 37.2%€564,310▲ 19.8%€567,697▲ 0.6%€636,879▲ 12.2%€711,916▲ 11.8%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €924,805
Fixed assets
€761 ▼ 34.8%
Current assets
€924,044 ▲ 29.3%
Equity and liabilities €924,805
Equity
€710,177 ▲ 11.7%
Debt
€214,628 ▲ 167%
Debt's share of the balance-sheet total rises from 11.2% to 23.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€91,223▲
2024 · €86,410
Cash flow
€75,037▲
2024 · €70,487
Current ratio
4.36▼
2024 · 9.18
Debt to equity
0.30▲
2024 · 0.13
ROE
10.5%▼
2024 · 11.1%
ROA
8.1%▼
2024 · 9.8%
Interest coverage
92.23▲
2024 · 91.37
Debt ≤ 1 year
€212,128▲
2024 · €77,867
Income taxes
€26,276▼
2024 · €34,076
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,095 | €9,095 | €283 | €52 | €407 | ▲ 677% |
| Other operating charges640/8 | €787 | €794 | €870 | €899 | €883 | ▼ 1.7% |
| Gross operating margin9900 | €184,901 | €136,188 | €89,765 | €87,309 | €92,106 | ▲ 5.5% |
| Operating profit (loss)9901 | €175,019 | €126,300 | €88,611 | €86,358 | €90,816 | ▲ 5.2% |
| Financial income75/76B | - | €10 | €9,672 | €19,098 | €11,079 | ▼ 42.0% |
| Recurring financial income75 | - | €10 | €9,672 | €19,098 | €11,079 | ▼ 42.0% |
| Financial charges65/66B | €449 | €641 | €906 | €946 | €989 | ▲ 4.6% |
| Recurring financial charges65 | €449 | €641 | €906 | €946 | €989 | ▲ 4.6% |
| Profit (loss) for the period before taxes9903 | €174,570 | €125,669 | €97,377 | €104,510 | €100,906 | ▼ 3.4% |
| Income taxes67/77 | €56,985 | €41,649 | €32,274 | €34,076 | €26,276 | ▼ 22.9% |
| Profit (loss) for the period9904 | €117,585 | €84,021 | €65,102 | €70,435 | €74,630 | ▲ 6.0% |
| Profit (loss) for the period to be appropriated9905 | €117,585 | €84,021 | €65,102 | €70,435 | €74,630 | ▲ 6.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €576,268 | €569,756 | €609,045 | €715,913 | €924,805 | ▲ 29.2% |
| Fixed assets21/28 | €9,378 | €283 | €0 | €1,168 | €761 | ▼ 34.8% |
| Tangible fixed assets22/27 | €9,378 | €283 | €0 | €1,168 | €761 | ▼ 34.8% |
| Plant, machinery and equipment23 | €580 | - | - | - | - | - |
| Furniture and vehicles24 | €8,798 | €283 | €0 | €1,168 | €761 | ▼ 34.8% |
| Current assets29/58 | €566,890 | €569,472 | €609,045 | €714,745 | €924,044 | ▲ 29.3% |
| Amounts receivable within one year40/41 | €33,715 | €32,430 | €102,898 | €118,707 | €180,755 | ▲ 52.3% |
| Trade receivables40 | €20,033 | €30,033 | €93,325 | €114,839 | €173,782 | ▲ 51.3% |
| Other amounts receivable41 | €13,682 | €2,397 | €9,573 | €3,867 | €6,972 | ▲ 80.3% |
| Cash at bank and in hand54/58 | €532,904 | €536,907 | €506,014 | €595,899 | €743,099 | ▲ 24.7% |
| Deferred charges and accrued income490/1 | €271 | €135 | €133 | €140 | €190 | ▲ 36.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €576,268 | €569,756 | €609,045 | €715,913 | €924,805 | ▲ 29.2% |
| Equity10/15 | €477,989 | €562,009 | €565,112 | €635,546 | €710,177 | ▲ 11.7% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €415,550 | €499,550 | €502,650 | €573,050 | €648,050 | ▲ 13.1% |
| Non-distributable reserves130/1 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | €409,400 | €493,400 | €496,500 | €566,900 | €641,900 | ▲ 13.2% |
| Profit (loss) carried forward14 | €939 | €959 | €962 | €996 | €627 | ▼ 37.1% |
| Amounts payable17/49 | €98,280 | €7,747 | €43,934 | €80,367 | €214,628 | ▲ 167% |
| Amounts payable within one year42/48 | €95,704 | €5,162 | €41,349 | €77,867 | €212,128 | ▲ 172% |
| Trade debts44 | €92,634 | €2,459 | €41,171 | €76,749 | €210,817 | ▲ 175% |
| Suppliers440/4 | €92,634 | €2,459 | €41,171 | €76,749 | €210,817 | ▲ 175% |
| Taxes, remuneration and social security45 | €2,052 | €1,685 | €178 | €1,118 | €1,311 | ▲ 17.2% |
| Taxes450/3 | €2,052 | €1,685 | €178 | €1,118 | €1,311 | ▲ 17.2% |
| Other amounts payable47/48 | €1,018 | €1,018 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €2,576 | €2,585 | €2,585 | €2,500 | €2,500 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €117,585 | €84,021 | €65,102 | €70,435 | €74,630 | ▲ 6.0% |
| + Depreciation and write-downs630 | €9,095 | €9,095 | €283 | €52 | €407 | ▲ 677% |
| Operating cash flow (approximation) | €126,679 | €93,115 | €65,386 | €70,487 | €75,037 | ▲ 6.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,220 | €0 | ▲ 100% |
| Change in cash | - | €4,003 | -€30,893 | €89,885 | €147,200 | ▲ 63.8% |
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
14-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity times 19current ratio 110.32
Current ratio from 5.92 to 110.32; short-term debt falls from €95,704 to €5,162.
31-12
Financial
Equity above €500,000Eq €562,009 ▲17.6%
5 profitable years in a row build equity to €562,009.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €117,585 ▲115%
Operating result €175,019, net result €117,585, both a record.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €54,801 ▼26.2%
Net result drops to €54,801, the lowest in the series; recovery starts the following year.
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Walhain · 1 establishment unit since 2002
Ground area
2,394 m²
Building footprint
243 m²
Volume, LiDAR
1,306 m³
Parcel 25109E0055/00D000, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FISABEL
since 20022.101.892.703
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25109E0055/00D000 | Wallonia | 2,394 m² | 1 · 243 m² | 7.8 m · 2 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
TEXION GEOSYNTHETICS
BE 0472.176.796
Antwerpen · Eq €710,140
DE DONCKER D.
BE 0826.289.649
Kapelle-op-den-Bos · Eq €710,140
BIPACK
BE 0466.518.530
Kortrijk · Eq €709,275
ASTRIOS SALES
BE 0885.355.028
Bilzen-Hoeselt · Eq €709,138
LECTA BENELUX
BE 0442.395.620
Etterbeek · Eq €708,785
Of 4,415 companies in sector 46180 we hold annual accounts for 1,885. 1,050 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded17-05-2002
Fiscal year end31-12
Abbreviation FR
CFW
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
46214Wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.