FNRCK Max
ActiveFNRCK Max has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-146k) and a net result of €40k. Equity is shrinking by ~10% per year across the filed fiscal years. Its solvency ranks better than 5% of 11210 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Negative equity caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.25 against 0.22 in 2024; short-term debt: 399.4% and cash: 36.8% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-299.4%
Return on assets
81.8%
Age of the figures
15 mo
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 · 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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 11210 sector peers (2025).
NBB · sector comparisonPosition among 11210 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 26-09-2025, 127 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
127 d early
2024
74 d early
2023
135 d early
2022
120 d early
2021
70 d early
2020
40 d early
2019
53 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close16-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-146k▲ 21.5%
2024 · €-186k
2019: €-82k
2020: €-97k
2021: €-107k
2022: €-117k
2023: €-215k
2024: €-186k
2019 → 2025
Total assets
€49k▼ 10.9%
2024 · €55k
2019: €149k
2020: €150k
2021: €153k
2022: €157k
2023: €62k
2024: €55k
2019 → 2025
Net result
€40k▲ 36.5%
2024 · €29k
2019: €-451k
2020: €-16k
2021: €-10k
2022: €-10k
2023: €-98k
2024: €29k
2019 → 2025
Working capital
€-146k▲ 22.3%
2024 · €-188k
2019: €-82k
2020: €-110k
2021: €-117k
2022: €-124k
2023: €-220k
2024: €-188k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-107k-€-117k▼ 9.3%€-215k▼ 83.4%€-186k▲ 13.6%€-146k▲ 21.5%
Operating result€-16k-€-17k▼ 3.3%€7k€35k▲ 375%€55k▲ 58.0%
Net result€-10k-€-10k▼ 2.1%€-98k▼ 880%€29k€40k▲ 36.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 58% above 2024 and is the highest result in the available series.
Key figures and ratios
EBITDA
€56k▲
2024 · €37k
Cash flow
€42k▲
2024 · €32k
Solvency
-299.4%▲
2024 · -339.7%
Current ratio
0.25▲
2024 · 0.22
Quick ratio
0.25▲
2024 · 0.22
Debt / equity
-1.33▼
2024 · -1.29
ROA
81.8%▲
2024 · 53.4%
Interest coverage
471.34▲
2024 · 311.52
Debt
€195k▼
2024 · €240k
Debt ≤ 1 year
€195k▼
2024 · €240k
Income taxes
€15k▲
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€55k€49k▼
Fixed assets21/28€2k€0▼
Tangible fixed assets22/27€2k€0▼
Furniture and vehicles24€2k€0▼
Current assets29/58€53k€49k▼
Amounts receivable within one year40/41€36k€30k▼
Trade receivables40€9k€4k▼
Other amounts receivable41€27k€27k=
Cash at bank and in hand54/58€17k€18k▲
Deferred charges and accrued income490/1€481€511▲
Equity and liabilities
Total equity and liabilities10/49€55k€49k▼
Equity10/15€-186k€-146k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-206k€-166k▲
Amounts payable17/49€240k€195k▼
Amounts payable within one year42/48€240k€195k▼
Trade debts44€141€662▲
Suppliers440/4€141€662▲
Taxes, remuneration and social security45€10k€8k▼
Taxes450/3€10k€8k▼
Other amounts payable47/48€230k€186k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€2k€2k▼
Gross operating margin9900€39k€58k▲
Operating profit (loss)9901€35k€55k▲
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€119€120▲
Recurring financial charges65€119€120▲
Profit (loss) for the period before taxes9903€34k€54k▲
Income taxes67/77€5k€15k▲
Profit (loss) for the period9904€29k€40k▲
Profit (loss) for the period to be appropriated9905€29k€40k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-206k€-166k▲
Profit (loss) brought forward from the previous period14P€-235k€-206k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2019net €40k ▲36.5%
Operating result €55k, net result €40k, both a record.
2024
18-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Back to profitnet €29k
Net result €29k after 5 loss-making years.
2023
18-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
22-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
09-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
15-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 5 days late
2017
20-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 20 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Gent · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Gelukstraat 349000 GentGround area
227 m²
Building footprint
190 m²
Volume, LiDAR
1,153 m³
Parcel 44802B0258/00C000, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FNRCK MAX
since 20062.153.284.192
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44802B0258/00C000 | Flanders | 227 m² | 1 · 190 m² | 10.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
LORIMO
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Blue Boyz
BE 0453.905.461
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S. ANDRE DOMBRECHT
BE 0883.817.379
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CAMELEON
BE 0435.169.912
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Wall Care
BE 0508.933.759
Deinze · Eq €370k
Of 6,157 companies in sector 46190 we hold annual accounts for 2,567. 1,669 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-04-2006
Fiscal year end30-06
Activities, NACEBEL
46190Agents in non-specialised wholesale trade
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
46900Non-specialised wholesale trade
47120Other non-specialised retail sale
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:info@fnrck.com
E-mail:max@fnrck.com