Equity
FMO paid out €642,491 in dividends. That is 200% of the 2025 profit.
FMO paid out €642,491 in dividends. That is 200% of the 2025 profit.
The result fell in 2025 from €1.0m to €321,173.
Debts rose by €204,274 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Short-term debts fell from €352,126 to €151,465.
The 2018 accounts came 5 days late. The other nine of the last ten were filed on time.
Higher net result than 86% of companies in head offices and management consultancy. Sector median €37,527 · 10,855 companies.
The dashed line is the sector median: 0.1% across 4,522 companies (NACE 70, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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, small). It does better than 85% of them on solvency, 99% on liquidity, 82% on profitability and 14% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 17,811 companies had the same profile as FMO has now. Each dot stands for 45 companies, two years later.
That fits the bankruptcy probability of FMO itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 17,811 companies, not a prediction for FMO. 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.
Liquidity is ample, with a current ratio of 18.54 (8.26 in 2024), above the usual 1.5. Short-term debt is 5.1% and cash 41.4% of total assets. 18.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 23 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.
| Company | ||||
|---|---|---|---|---|
| FMO Destelbergen | €3.0m | €484,123 | 81.3% | - |
| Fanny Dhondt Ghent | €3.1m | €491,141 | 28.9% | - |
| GROM Lochristi | €3.5m | €464,891 | 10.4% | 3.5 |
| Geert Hallemeesch Erpe-Mere | €2.6m | €529,728 | 70.0% | - |
| VESTIMA Ghent | €3.0m | €459,167 | 85.1% | 1 |
| Argon Merelbeke-Melle | €2.5m | €547,399 | 68.9% | - |
| Steven Doms Bonheiden | €3.0m | €507,682 | 75.7% | - |
These companies have the same main activity as FMO: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €2.5m and €3.5m, founded between 2010 and 2014.
FMO files the abbreviated format. That format states no turnover. The gross margin rose from €193,777 in 2013 to €484,123 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €730,000. Estimated: probably between €570,000 and €1.3m.
Higher than 77% of 10,855 companies in 2025.
Higher than 94% of 10,477 companies in 2025.
Higher than 66% of 10,724 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
3.0m | 3.1m | 1.9m | 1.5m | 973,289 | 802,434 | 700,256 | 576,647 | 554,829 | 547,096 | 493,807 | 349,766 | 221,422 | |
21/28 |
181,353 | 197,645 | 230,812 | 248,677 | 178,941 | 182,789 | 202,279 | 228,646 | 254,727 | 220,568 | 102,090 | 4,772 | 597 | |
22/27 |
181,353 | 197,645 | 230,812 | 248,677 | 178,941 | 182,789 | 202,279 | 228,646 | 254,727 | 220,568 | 102,090 | 4,772 | 597 | |
22 |
95,913 | 109,615 | 123,317 | 137,019 | 150,721 | 164,423 | 178,125 | 191,827 | 205,529 | 177,917 | 98,819 | - | - | |
23 |
17,391 | 9,578 | 13,315 | 13,813 | 14,217 | 14,866 | 13,943 | 16,324 | 17,402 | 1,080 | 437 | 994 | 597 | |
24 |
34,879 | 46,501 | 61,828 | 78,177 | 14,003 | 3,500 | 10,211 | 20,495 | 31,797 | 41,571 | 2,834 | 3,778 | - | |
26 |
33,169 | 31,950 | 32,352 | 19,669 | - | - | - | - | - | - | - | - | - | |
29/58 |
2.8m | 2.9m | 1.7m | 1.2m | 794,348 | 619,645 | 497,977 | 348,000 | 300,102 | 326,528 | 391,717 | 344,993 | 220,825 | |
40/41 |
191,458 | 183,389 | 61,844 | 59,722 | 77,354 | 65,916 | 37,659 | 36,270 | 55,576 | 50,181 | 142,800 | 99,867 | 99,867 | |
40 |
178,979 | 179,416 | 57,871 | 59,486 | 58,683 | 57,979 | 37,310 | 30,875 | 30,875 | 30,875 | 142,800 | 99,867 | 99,867 | |
41 |
12,479 | 3,973 | 3,973 | 236 | 18,671 | 7,937 | 348 | 5,395 | 24,701 | 19,306 | - | - | - | |
50/53 |
1.4m | 638,472 | 923,296 | 411,821 | - | - | - | - | - | - | - | - | - | |
54/58 |
1.2m | 2.1m | 658,908 | 770,900 | 715,160 | 552,865 | 459,622 | 310,842 | 244,525 | 276,347 | 248,917 | 245,127 | 120,958 | |
490/1 |
22,192 | 4,323 | 11,213 | 3,852 | 1,834 | 864 | 697 | 888 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
3.0m | 3.1m | 1.9m | 1.5m | 973,289 | 802,434 | 700,256 | 576,647 | 554,829 | 547,096 | 493,807 | 349,766 | 221,422 | |
10/15 |
2.4m | 2.8m | 1.7m | 1.3m | 736,680 | 663,220 | 554,167 | 414,304 | 349,542 | 327,374 | 303,386 | 215,053 | 126,570 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
2.4m | 2.7m | 1.7m | 1.3m | 730,480 | 657,020 | 547,967 | 408,104 | 343,342 | 321,174 | 297,186 | 208,853 | 120,370 | |
130/1 |
- | - | - | - | 0 | 1,860 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | - | 0 | 1,860 | - | - | - | - | - | - | - | |
133 |
2.4m | 2.7m | 1.7m | 1.3m | 730,480 | 655,160 | 546,107 | 406,244 | 341,482 | 319,314 | 295,326 | 206,993 | 118,510 | |
14 |
0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | |
17/49 |
557,535 | 353,261 | 182,877 | 172,000 | 236,609 | 139,214 | 146,089 | 162,343 | 205,286 | 219,722 | 190,421 | 134,712 | 94,852 | |
17 |
400,000 | 0 | 4,059 | 27,016 | 53,077 | 78,789 | 104,157 | 129,185 | 156,407 | 164,252 | 86,712 | - | - | |
170/4 |
- | 0 | 4,059 | 27,016 | 53,077 | 78,789 | 104,157 | 129,185 | 156,407 | 164,252 | 86,712 | - | - | |
178/9 |
400,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
151,465 | 352,126 | 178,818 | 144,984 | 183,532 | 60,051 | 41,896 | 33,114 | 48,828 | 55,470 | 103,710 | 134,712 | 94,852 | |
42 |
0 | 4,059 | 22,957 | 26,061 | 25,712 | 25,368 | 25,035 | 27,229 | 39,455 | 39,637 | - | - | - | |
44 |
2,511 | 1,692 | 16,299 | 7,686 | 5,217 | 2,366 | 264 | 68 | 637 | 579 | 19,709 | 94 | 957 | |
440/4 |
2,511 | 1,692 | 16,299 | 7,686 | 5,217 | 2,366 | 264 | 68 | 637 | 579 | 19,709 | 94 | 957 | |
45 |
137,535 | 343,964 | 73,434 | 109,832 | 8,921 | 32,318 | 15,022 | 5,817 | 5,741 | 13,950 | 83,378 | 131,722 | 77,609 | |
450/3 |
137,535 | 343,964 | 71,349 | 109,832 | 8,921 | 32,318 | 15,022 | 5,817 | 5,741 | 13,950 | 83,378 | 131,722 | 77,609 | |
454/9 |
- | 0 | 2,084 | - | - | - | - | - | - | - | - | - | - | |
47/48 |
11,420 | 2,411 | 66,128 | 1,406 | 143,683 | - | 1,576 | - | 2,996 | 1,305 | 622 | 2,896 | 16,287 | |
492/3 |
6,070 | 1,135 | - | - | 0 | 374 | 36 | 44 | 51 | - | - | - | - | |
| Income statement | ||||||||||||||
9900 |
484,123 | 1.5m | 700,712 | 937,535 | 468,593 | 328,645 | 245,982 | 127,993 | 70,846 | 83,515 | 172,354 | 150,248 | 193,777 | |
630 |
37,696 | 36,822 | 35,707 | 23,046 | 18,087 | 26,731 | 26,367 | 27,385 | 27,241 | 22,542 | 16,178 | 1,859 | 836 | |
640/8 |
3,512 | 3,684 | 3,329 | 3,460 | 3,138 | 5,022 | 2,783 | 2,546 | 1,760 | 2,002 | 7,463 | 1,113 | 2,826 | |
9901 |
442,915 | 1.5m | 661,676 | 911,029 | 447,368 | 296,892 | 216,832 | 98,063 | 41,845 | 58,971 | 148,713 | 147,276 | 190,115 | |
75/76B |
61,713 | 70,764 | 12,206 | 2,252 | 142 | 323 | 230 | 381 | 1,065 | 281 | 543 | 932 | 279 | |
75 |
61,713 | 70,764 | 12,206 | 2,252 | 142 | 323 | 230 | 381 | 1,065 | 281 | 543 | 932 | 279 | |
65/66B |
22,624 | -258 | -8,300 | 41,549 | 1,847 | 2,537 | 2,198 | 2,635 | 3,349 | 3,044 | 2,479 | 1,626 | 3,957 | |
65 |
22,624 | -258 | -8,300 | 41,549 | 1,847 | 2,537 | 2,198 | 2,635 | 3,349 | 3,044 | 2,479 | 1,626 | 3,957 | |
9903 |
482,004 | 1.5m | 682,182 | 871,732 | 445,662 | 294,677 | 214,864 | 95,809 | 39,561 | 56,208 | 146,777 | 146,582 | 186,437 | |
67/77 |
160,831 | 489,739 | 213,970 | 285,440 | 141,371 | 97,141 | 74,201 | 31,048 | 17,393 | 32,219 | 58,445 | 58,098 | 66,067 | |
9904 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
9905 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
| Appropriation of the result | ||||||||||||||
9906 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
791/2 |
642,491 | 0 | 87,989 | 0 | 230,831 | 88,484 | 800 | - | - | - | - | - | - | |
691/2 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 118,510 | |
694/7 |
642,491 | 0 | 87,989 | 0 | 230,831 | 88,484 | 800 | - | - | - | - | - | - | |
694 |
642,491 | 0 | 87,989 | 0 | 230,831 | 88,484 | 800 | - | - | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-06-2026 | 2026-00160025 | |
| 31-12-2024 | abbreviated format | 08-07-2025 | 2025-00242076 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00168389 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00267089 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20204204 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-35700079 | |
| 31-12-2019 | micro format | 07-07-2020 | 2020-26600108 | |
| 31-12-2018 | micro format | 05-08-2019 | 2019-43200414 | |
| 31-12-2017 | micro format | 25-07-2018 | 2018-37600425 | |
| 31-12-2016 | micro format | 27-07-2017 | 2017-35900438 | |
| 31-12-2015 | abbreviated format | 20-07-2016 | 2016-33100288 | |
| 31-12-2014 | abbreviated format | 06-07-2015 | 2015-26500034 | |
| 31-12-2013 | abbreviated format | 25-06-2014 | 2014-21900315 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 480,611 | 1.5m | 697,383 | 934,075 | 465,454 | 323,623 | 243,200 | 125,448 | 69,086 | 81,513 | 164,891 | 149,135 | 190,951 | ||
| 358,869 | 1.1m | 503,919 | 609,338 | 322,377 | 224,268 | 167,031 | 92,146 | 49,409 | 46,531 | 104,511 | 90,343 | 121,205 | ||
| 21,404 | 3,655 | 27,257 | 92,782 | 14,239 | 7,241 | 0 | 1,304 | 61,400 | 141,020 | 113,496 | 6,035 | 1,433 | ||
| -844,616 | 1.4m | -111,992 | 55,740 | 162,295 | 93,243 | 148,780 | 66,317 | -31,822 | 27,431 | 3,790 | 124,168 | - | ||
| 2.7m | 2.6m | 1.5m | 1.1m | 610,816 | 559,593 | 456,081 | 314,886 | 251,274 | 271,058 | 288,007 | 210,281 | 125,973 | ||
| 81.3% | 88.6% | 90.3% | 88.5% | 75.7% | 82.7% | 79.1% | 71.8% | 63.0% | 59.8% | 61.4% | 61.5% | 57.2% | ||
| 18.54 | 8.26 | 9.26 | 8.60 | 4.33 | 10.32 | 11.89 | 10.51 | 6.15 | 5.89 | 3.78 | 2.56 | 2.33 | ||
| 0.23 | 0.13 | 0.11 | 0.13 | 0.32 | 0.21 | 0.26 | 0.39 | 0.59 | 0.67 | 0.63 | 0.63 | 0.75 | ||
| 13.2% | 38.1% | 27.5% | 44.3% | 41.3% | 29.8% | 25.4% | 15.6% | 6.3% | 7.3% | 29.1% | 41.1% | 95.1% | ||
| 10.7% | 33.8% | 24.8% | 39.2% | 31.3% | 24.6% | 20.1% | 11.2% | 4.0% | 4.4% | 17.9% | 25.3% | 54.4% | ||
| 21.24 | -5829.52 | -84.02 | 22.48 | over 100 | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €21,404 | €3,655 | €27,257 | €92,782 | €14,239 |
| €37,696 | €36,822 | €35,707 | €23,046 | €18,087 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 70% lower than in 2024 and the lowest since 2020.
Debt's share of the balance-sheet total rises from 11.4% to 18.7%. Equity is lower and debt is higher.
FMO has no parent and no holdings in its annual accounts.
| EXMAR via Francis Mottrie, no longer at EXMAR · Executive director · deed of 30-10-2020 founded in 2003 · group SAVEREX |
total assets €805.2m (2024) |
| Fedustria via Francis Mottrie, no longer at Fedustria · Lid van de raad van bestuur van fedustria vzw · deed of 28-07-2016 founded in 2007 |
29 FTE (2025) |
| Shipowners Protection Fund via Francis Mottrie, no longer at Shipowners Protection Fund · Director · deed of 29-07-2010 founded in 1986 |
total assets €50.3m (2025) |
| RSA INVEST via Francis Mottrie, no longer at RSA INVEST · Director · deed of 29-07-2010 founded in 1986 |
total assets €27.0m (2025) |
| Koninklijke Belgische Redersvereniging-Union Royale des ARmateurs Belges via Francis Mottrie, no longer at Koninklijke Belgische Redersvereniging-Union Royale des ARmateurs Belges · Alternate director · deed of 19-09-2023 founded in 1965 |
4.6 FTE (2025) |
| Centre scientifique et technique de l'Industrie textile belge via Francis Mottrie, no longer at Centre scientifique et technique de l'Industrie textile belge · Director |
founded in 1975 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Reukenwegel 3 registered office 9070 Destelbergen 7010001 Activities of head offices | 20-04-2012 | 2.209.007.526 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44028A0562/00G000 | 1,089 m² | 1 · 232 m² | 8.9 m · 2 |
If something looks wrong or is missing, please tell us.