FM PROJECTS
ActiveSummary
FM PROJECTS has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.4m and a net result of -€58,963. Equity is shrinking by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▲+1
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days acceptable
short-term debt: 0.1% and cash: 1.1% of total assets, and 0.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€58,963
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
14 d early
2023
17 d early
2022
12 d early
2021
3 d early
2020
on the day
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.4m▼ 2.4%
2024 · €2.4m
Total assets
€2.4m▼ 3.2%
2024 · €2.4m
Net result
-€58,963▲ 24.7%
2024 · -€78,300
Working capital
€2.0m▼ 2.3%
2024 · €2.1m
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-€113,621▼ 136%-€404,540▼ 256%€229,187-€69,840-€54,739▲ 21.6%
Net result-€122,359▲ 72.9%-€524,971▼ 329%€185,282-€78,300-€58,963▲ 24.7%
Equity€2.8m▼ 3.4%€2.3m▼ 18.6%€2.5m▲ 8.0%€2.4m▼ 3.1%€2.4m▼ 2.4%
Total assets€3.5m▼ 3.4%€2.4m▼ 31.8%€2.6m▲ 6.1%€2.4m▼ 4.7%€2.4m▼ 3.2%
Debt€644,340=€101,900▼ 84.2%€63,154▼ 38.0%€20,804▼ 67.1%€1,513▼ 92.7%
Working capital-€449,654▼ 22.0%€2.0m€2.1m▲ 8.7%€2.1m▼ 3.5%€2.0m▼ 2.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Net result -329% on 2021. Cause not known from the registers.
- 2021 Net result +73% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €54,739 in 2025 against €69,840 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€331,590 ▼ 4.6%
Current assets
€2.0m ▼ 3.0%
Equity and liabilities €2.4m
Equity
€2.4m ▼ 2.4%
Debt
€1,513 ▼ 92.7%
Debt's share of the balance-sheet total falls from 0.9% to 0.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€30,440▲
2024 · -€45,045
Cash flow
-€34,664▲
2024 · -€53,505
Debt to equity
0.00▼
2024 · 0.01
ROE
-2.5%▲
2024 · -3.2%
ROA
-2.5%▲
2024 · -3.2%
Interest coverage
-6.88▲
2024 · -11.36
Debt ≤ 1 year
€1,513▼
2024 · €15,809
Income taxes
€438▲
2024 · €430
A ratio outside any meaningful range has been withheld (balance sheet total €2.4m, equity €2.4m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,594 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €7,304 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €64,884 | €26,635 | €24,509 | €24,795 | €24,299 | ▼ 2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€100,000 | -€283,608 | -€50,000 | - | - |
| Other operating charges640/8 | - | €8,442 | €5,144 | €55,423 | €5,954 | ▼ 89.3% |
| Non-recurring operating charges66A | - | €430,119 | - | - | - | - |
| Gross operating margin9900 | -€11,289 | -€39,343 | -€24,769 | -€39,622 | -€24,486 | ▲ 38.2% |
| Operating profit (loss)9901 | -€113,621 | -€404,540 | €229,187 | -€69,840 | -€54,739 | ▲ 21.6% |
| Financial income75/76B | - | €13 | €3,905 | €26 | €640 | ▲ 2,356% |
| Recurring financial income75 | €3,473 | €13 | €3,905 | €26 | €640 | ▲ 2,356% |
| Financial charges65/66B | - | €177,085 | €12,675 | €8,056 | €4,426 | ▼ 45.1% |
| Recurring financial charges65 | €15,103 | €177,085 | €6,113 | €3,964 | €4,426 | ▲ 11.6% |
| Non-recurring financial charges66B | - | - | €6,562 | €4,092 | - | - |
| Profit (loss) for the period before taxes9903 | -€125,251 | -€581,612 | €220,417 | -€77,870 | -€58,525 | ▲ 24.8% |
| Transfer from deferred taxes780 | - | €57,011 | - | - | - | - |
| Income taxes67/77 | €339 | €370 | €35,135 | €430 | €438 | ▲ 1.7% |
| Profit (loss) for the period9904 | -€122,359 | -€524,971 | €185,282 | -€78,300 | -€58,963 | ▲ 24.7% |
| Transfer from tax-exempt reserves789 | - | €171,032 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€112,665 | -€353,939 | €185,282 | -€78,300 | -€58,963 | ▲ 24.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.5m | €2.4m | €2.6m | €2.4m | €2.4m | ▼ 3.2% |
| Fixed assets21/28 | €3.5m | €393,305 | €369,958 | €347,631 | €331,590 | ▼ 4.6% |
| Tangible fixed assets22/27 | €1.3m | €390,040 | €366,693 | €344,367 | €328,325 | ▼ 4.7% |
| Land and buildings22 | - | €388,170 | €364,120 | €342,072 | €326,310 | ▼ 4.6% |
| Plant, machinery and equipment23 | - | €1,870 | €2,574 | €2,295 | €2,016 | ▼ 12.2% |
| Financial fixed assets28 | €2.2m | €3,265 | €3,265 | €3,265 | €3,265 | = |
| Current assets29/58 | €32,444 | €2.0m | €2.2m | €2.1m | €2.0m | ▼ 3.0% |
| Amounts receivable within one year40/41 | - | €64,119 | €284,959 | €230,449 | €175,178 | ▼ 24.0% |
| Trade receivables40 | - | €33,819 | €254,659 | €200,149 | €143,000 | ▼ 28.6% |
| Other amounts receivable41 | - | €30,300 | €30,300 | €30,300 | €32,178 | ▲ 6.2% |
| Current investments50/53 | - | €1.9m | €1.9m | €1.8m | €1.8m | ▲ 0.1% |
| Cash at bank and in hand54/58 | €30,485 | €14,264 | €23,785 | €35,725 | €24,840 | ▼ 30.5% |
| Deferred charges and accrued income490/1 | - | €2,013 | €3,407 | €3,899 | €5,152 | ▲ 32.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.5m | €2.4m | €2.6m | €2.4m | €2.4m | ▼ 3.2% |
| Equity10/15 | €2.8m | €2.3m | €2.5m | €2.4m | €2.4m | ▼ 2.4% |
| Contributions10/11 | €554,000 | €554,000 | €554,000 | €554,000 | €554,000 | = |
| Capital10 | - | €554,000 | €554,000 | €554,000 | €554,000 | = |
| Issued capital100 | - | €554,000 | €554,000 | €554,000 | €554,000 | = |
| Reserves13 | €2.8m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Non-distributable reserves130/1 | - | €55,400 | €55,400 | €55,400 | €55,400 | = |
| Legal reserve130 | - | €55,400 | €55,400 | €55,400 | €55,400 | = |
| Distributable reserves133 | - | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Profit (loss) carried forward14 | -€552,981 | -€906,920 | -€721,638 | -€799,938 | -€858,901 | ▼ 7.4% |
| Provisions and deferred taxes16 | €57,011 | - | - | - | - | - |
| Amounts payable17/49 | €644,340 | €101,900 | €63,154 | €20,804 | €1,513 | ▼ 92.7% |
| Amounts payable after more than one year17 | €162,242 | €60,298 | €23,565 | €4,995 | - | - |
| Financial debts170/4 | - | - | €11,667 | - | - | - |
| Other amounts payable178/9 | - | €60,298 | €11,899 | €4,995 | - | - |
| Amounts payable within one year42/48 | €482,098 | €41,602 | €39,589 | €15,809 | €1,513 | ▼ 90.4% |
| Current portion of amounts payable after more than one year42 | - | €35,000 | €35,000 | €11,667 | - | - |
| Trade debts44 | €3,810 | €4,903 | €3,042 | €2,933 | €1,070 | ▼ 63.5% |
| Suppliers440/4 | - | €4,903 | €3,042 | €2,933 | €1,070 | ▼ 63.5% |
| Taxes, remuneration and social security45 | - | €1,698 | €1,547 | €1,210 | €443 | ▼ 63.4% |
| Taxes450/3 | - | €1,698 | €1,547 | €1,210 | €443 | ▼ 63.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€122,359 | -€524,971 | €185,282 | -€78,300 | -€58,963 | ▲ 24.7% |
| + Depreciation and write-downs630 | €64,884 | €26,635 | €24,509 | €24,795 | €24,299 | ▼ 2.0% |
| Operating cash flow (approximation) | -€57,475 | -€498,336 | €209,791 | -€53,505 | -€34,664 | ▲ 35.2% |
| Investment in fixed assets (approximation) | - | €3.1m | -€1,162 | -€2,468 | -€8,258 | ▼ 235% |
| Change in cash | - | -€16,220 | €9,521 | €11,940 | -€10,885 | ▼ 191% |
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
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Liquidity times 10current ratio 1336.98
Current ratio from 131.89 to 1336.98; short-term debt falls from €15,809 to €1,513.
2024
17-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Liquidity doublescurrent ratio 131.89
Current ratio from 55.15 to 131.89; short-term debt falls from €39,589 to €15,809.
2023
14-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Back to profitnet €185,282
Net result €185,282 after 4 loss-making years.
2022
19-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€524,971
Net result drops to -€524,971, the lowest in the series; recovery starts the following year.
31-03
Financial
Liquidity times 719current ratio 48.40
Current ratio from 0.07 to 48.40; short-term debt falls from €482,098 to €41,602.
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2018
12-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 12 days late
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
20-10
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 10 acts read
About the unread acts
We know of 10 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
10 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, Koksijde · 1 establishment unit since 1998
Ground area
1,527 m²
Building footprint
285 m²
Volume, LiDAR
1,610 m³
Parcel 38502F0768/00B000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FM PROJECTS
since 19982.086.525.824
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38502F0768/00B000 | Flanders | 1,527 m² | 1 · 285 m² | 9.4 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500DCDUCJXJIFEB89
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 18,355 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
Founded07-04-1998
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463092549
Also
9925:BE0463092549
Registered
06-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.