FKonsultancy
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-07-2026 at the NBB all 7 filings
Turnover
≈ €280,000
Estimated: probably between €180,000 and €480,000
Total assets
€56,476▼ 55.7%
2024 · €127,620
Net result
€59,287▼ 18.9%
2024 · €73,114
Working capital
-€16,046▼ 94.2%
2024 · -€8,265
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€76,008
▼ 18.4%
2025
20192025
Net result
€59,287
▼ 18.9%
2025
highest quarter of the sector
20192025
Equity
€387
▼ 96.7%
2025
lowest quarter of the sector
20192025
Total assets
€56,476
▼ 55.7%
2025
middle half of the sector
20192025
Debt
€56,089
▼ 51.6%
2025
20192025
Working capital
-€16,046
▼ 94.2%
2025
lowest quarter of the sector
20192025
Solvency
0.7%
▼ 8.4pp
2025
lowest quarter of the sector
20192025
Current ratio
0.68
▼ 0.23
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
105.0%
▲ 47.7pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€33,234-€90,769▲ 173%€77,813▼ 14.3%€17,539▼ 77.5%€96,022▲ 447%€93,197▼ 2.9%€76,008▼ 18.4%
Net result€24,246-€70,984above the sector's middle half▲ 193%€60,825above the sector's middle half▼ 14.3%€13,170within the sector's middle half▼ 78.3%€76,334above the sector's middle half▲ 480%€73,114above the sector's middle half▼ 4.2%€59,287above the sector's middle half▼ 18.9%
Equity€36,646-€107,630within the sector's middle half▲ 194%€174,655above the sector's middle half▲ 62.3%€59,826within the sector's middle half▼ 65.7%€11,646below the sector's middle half▼ 80.5%€11,646below the sector's middle half=€387below the sector's middle half▼ 96.7%
Total assets€57,690-€141,367within the sector's middle half▲ 145%€219,730within the sector's middle half▲ 55.4%€82,477within the sector's middle half▼ 62.5%€100,496within the sector's middle half▲ 21.8%€127,620within the sector's middle half▲ 27.0%€56,476within the sector's middle half▼ 55.7%
Debt€21,044-€33,737▲ 60.3%€45,075▲ 33.6%€22,651▼ 49.7%€88,851▲ 292%€115,975▲ 30.5%€56,089▼ 51.6%
Working capital€34,512-€106,022above the sector's middle half▲ 207%€172,839above the sector's middle half▲ 63.0%€58,326within the sector's middle half▼ 66.3%€1,886below the sector's middle half▼ 96.8%-€8,265below the sector's middle half-€16,046below the sector's middle half▼ 94.2%
Solvency63.5%-76.1%within the sector's middle half▲ 12.6pp79.5%above the sector's middle half▲ 3.4pp72.5%within the sector's middle half▼ 7.0pp11.6%below the sector's middle half▼ 60.9pp9.1%below the sector's middle half▼ 2.5pp0.7%below the sector's middle half▼ 8.4pp
Current ratio2.64-4.14within the sector's middle half▲ 1.504.83above the sector's middle half▲ 0.693.57within the sector's middle half▼ 1.261.02below the sector's middle half▼ 2.550.92below the sector's middle half▼ 0.100.68below the sector's middle half▼ 0.23
Return on assets (ROA)42.0%-50.2%above the sector's middle half▲ 8.2pp27.7%above the sector's middle half▼ 22.5pp16.0%within the sector's middle half▼ 11.7pp76.0%above the sector's middle half▲ 60.0pp57.3%above the sector's middle half▼ 18.7pp105.0%above the sector's middle half▲ 47.7pp
above
within
below
The sector band is the middle half of the companies in Computing infrastructure, data processing, hosting and other information service activities (NACE 63). 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 operating result for 2025 is 18% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €56,476
Fixed assets
€21,879 ▼ 40.6%
Current assets
€34,597 ▼ 61.9%
Equity and liabilities €56,476
Equity
€387 ▼ 96.7%
Debt
€56,089 ▼ 51.6%
Debt's share of the balance-sheet total rises from 90.9% to 99.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€91,091▼
2024 · €101,604
Cash flow
€74,370▼
2024 · €81,521
Interest coverage
85.68▼
2024 · 91.22
Debt ≤ 1 year
€50,643▼
2024 · €99,043
Debt > 1 year
€5,446▼
2024 · €16,932
Income taxes
€15,663▼
2024 · €18,981
The equity ratios are withheld because equity of €387 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €11,000 | €45,249 | - |
| Financial fixed assets | €1,500 | - | €1,000 | - | €120 |
| Depreciation and write-downs of the year | €1,141 | €317 | €2,240 | €8,407 | €15,083 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4,350 | €3,456 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €825 | €1,141 | €1,141 | €317 | €2,240 | €8,407 | €15,083 | ▲ 79.4% |
| Other operating charges640/8 | - | - | €263 | €1,018 | €728 | €3,438 | €805 | ▼ 76.6% |
| Gross operating margin9900 | €34,549 | €92,394 | €79,217 | €18,873 | €98,990 | €105,042 | €91,896 | ▼ 12.5% |
| Operating profit (loss)9901 | €33,234 | €90,769 | €77,813 | €17,539 | €96,022 | €93,197 | €76,008 | ▼ 18.4% |
| Financial income75/76B | - | - | €1 | €5 | €5 | €13 | €4 | ▼ 64.2% |
| Recurring financial income75 | - | - | €1 | €5 | €5 | €13 | €4 | ▼ 64.2% |
| Financial charges65/66B | - | - | €141 | €93 | €129 | €1,114 | €1,063 | ▼ 4.6% |
| Recurring financial charges65 | €306 | €416 | €141 | €93 | €129 | €1,114 | €1,063 | ▼ 4.6% |
| Profit (loss) for the period before taxes9903 | €32,929 | €90,353 | €77,673 | €17,450 | €95,898 | €92,096 | €74,950 | ▼ 18.6% |
| Income taxes67/77 | €8,683 | €19,369 | €16,848 | €4,280 | €19,564 | €18,981 | €15,663 | ▼ 17.5% |
| Profit (loss) for the period9904 | €24,246 | €70,984 | €60,825 | €13,170 | €76,334 | €73,114 | €59,287 | ▼ 18.9% |
| Profit (loss) for the period to be appropriated9905 | €24,246 | €70,984 | €60,825 | €13,170 | €76,334 | €73,114 | €59,287 | ▼ 18.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €57,690 | €141,367 | €219,730 | €82,477 | €100,496 | €127,620 | €56,476 | ▼ 55.7% |
| Fixed assets21/28 | €2,134 | €1,608 | €1,817 | €1,500 | €9,760 | €36,842 | €21,879 | ▼ 40.6% |
| Tangible fixed assets22/27 | €2,134 | €1,458 | €317 | - | €8,760 | €36,842 | €21,759 | ▼ 40.9% |
| Furniture and vehicles24 | - | - | €317 | - | €8,760 | - | - | - |
| Leasing and similar rights25 | - | - | - | - | - | €36,842 | €21,759 | ▼ 40.9% |
| Financial fixed assets28 | - | €150 | €1,500 | €1,500 | €1,000 | - | €120 | - |
| Current assets29/58 | €55,556 | €139,759 | €217,913 | €80,977 | €90,736 | €90,778 | €34,597 | ▼ 61.9% |
| Amounts receivable within one year40/41 | €12,515 | €16,274 | €18,047 | €27,745 | €17,180 | €21,375 | €12,418 | ▼ 41.9% |
| Trade receivables40 | - | - | €14,047 | €10,525 | €14,744 | €17,920 | €11,399 | ▼ 36.4% |
| Other amounts receivable41 | - | - | €4,000 | €17,220 | €2,436 | €3,454 | €1,019 | ▼ 70.5% |
| Cash at bank and in hand54/58 | €41,333 | €123,311 | €199,271 | €46,494 | €73,557 | €69,403 | €22,179 | ▼ 68.0% |
| Deferred charges and accrued income490/1 | - | - | €596 | €6,738 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €57,690 | €141,367 | €219,730 | €82,477 | €100,496 | €127,620 | €56,476 | ▼ 55.7% |
| Equity10/15 | €36,646 | €107,630 | €174,655 | €59,826 | €11,646 | €11,646 | €387 | ▼ 96.7% |
| Contributions10/11 | €12,400 | - | €18,600 | €18,600 | €100 | €100 | €100 | = |
| Reserves13 | €11,546 | €11,546 | €11,546 | €11,546 | €11,546 | €11,546 | - | - |
| Non-distributable reserves130/1 | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | €9,686 | €11,546 | €11,546 | €11,546 | - | - |
| Profit (loss) carried forward14 | €12,700 | €83,684 | €144,510 | €29,680 | - | - | €287 | - |
| Amounts payable17/49 | €21,044 | €33,737 | €45,075 | €22,651 | €88,851 | €115,975 | €56,089 | ▼ 51.6% |
| Amounts payable after more than one year17 | - | - | - | - | - | €16,932 | €5,446 | ▼ 67.8% |
| Financial debts170/4 | - | - | - | - | - | €16,932 | €5,446 | ▼ 67.8% |
| Amounts payable within one year42/48 | €21,044 | €33,737 | €45,075 | €22,651 | €88,851 | €99,043 | €50,643 | ▼ 48.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €10,166 | €10,620 | ▲ 4.5% |
| Trade debts44 | €6,813 | €1,090 | €1,472 | €1,903 | €1,477 | €2,342 | €1,419 | ▼ 39.4% |
| Suppliers440/4 | - | - | €1,472 | €1,903 | €1,477 | €2,342 | €1,419 | ▼ 39.4% |
| Taxes, remuneration and social security45 | - | - | €43,339 | €19,344 | €9,308 | €9,122 | €17,092 | ▲ 87.4% |
| Taxes450/3 | - | - | €43,339 | €19,344 | €9,308 | €9,122 | €17,092 | ▲ 87.4% |
| Other amounts payable47/48 | - | - | €264 | €1,405 | €78,066 | €77,413 | €21,511 | ▼ 72.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,246 | €70,984 | €60,825 | €13,170 | €76,334 | €73,114 | €59,287 | ▼ 18.9% |
| + Depreciation and write-downs630 | €825 | €1,141 | €1,141 | €317 | €2,240 | €8,407 | €15,083 | ▲ 79.4% |
| Operating cash flow (approximation) | €25,071 | €72,125 | €61,967 | €13,487 | €78,574 | €81,521 | €74,370 | ▼ 8.8% |
| Investment in fixed assets (approximation) | - | -€615 | -€1,350 | €0 | -€10,500 | -€35,489 | -€120 | ▲ 99.7% |
| Change in cash | - | €81,978 | €75,960 | -€152,776 | €27,062 | -€4,153 | -€47,224 | ▼ 1,037% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,153 companies had the same profile as FKonsultancy has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
That fits the bankruptcy probability of FKonsultancy itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,153 companies, not a prediction for FKonsultancy. 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.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-07-2026 | 2026-00354547 | |
| 31-12-2024 | micro format | 07-07-2025 | 2025-00235494 | |
| 31-12-2023 | micro format | 15-08-2024 | 2024-00349882 | |
| 31-12-2022 | micro format | 23-08-2023 | 2023-00344941 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20122090 | |
| 31-12-2020 | micro format | 29-08-2021 | 2021-60100110 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-47700305 |