FORTECH STUDIE
ActiveSummary
FORTECH STUDIE has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €436,918 and a net result of -€6,381. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 39% of 9557 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-4
Solvency67▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.01 against 2.03 in 2024; short-term debt: 16.2% and cash: 6% of total assets), and 58% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-04-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
22 d early
2023
40 d early
2022
54 d early
2021
33 d early
2020
46 d early
2019
49 d early
← 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 38 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€0
Total assets
€1.0m▲ 15.5%
2024 · €900,670
Net result
-€6,381
2024 · €23,114
Working capital
€1,022▼ 99.3%
2024 · €152,236
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€137,406€34,785▼ 74.7%-€12,208€17,720-€5,207
Net result€136,024above the sector's middle half€35,052within the sector's middle half▼ 74.2%-€12,099below the sector's middle half€23,114within the sector's middle half-€6,381below the sector's middle half
Equity€397,231within the sector's middle half▲ 52.1%€432,284within the sector's middle half▲ 8.8%€420,185within the sector's middle half▼ 2.8%€443,299within the sector's middle half▲ 5.5%€436,918above the sector's middle half▼ 1.4%
Total assets€723,548within the sector's middle half▲ 77.3%€792,513within the sector's middle half▲ 9.5%€779,938within the sector's middle half▼ 1.6%€900,670within the sector's middle half▲ 15.5%€1.0mabove the sector's middle half▲ 15.5%
Debt€326,317▲ 122%€360,230▲ 10.4%€359,753▼ 0.1%€457,372▲ 27.1%€603,544▲ 32.0%
Working capital€119,909within the sector's middle half▼ 32.9%€65,298within the sector's middle half▼ 45.5%€62,570within the sector's middle half▼ 4.2%€152,236within the sector's middle half▲ 143%€1,022below the sector's middle half▼ 99.3%
Solvency54.9%within the sector's middle half▼ 9.1pp54.5%within the sector's middle half▼ 0.4pp53.9%within the sector's middle half▼ 0.7pp49.2%within the sector's middle half▼ 4.7pp42.0%within the sector's middle half▼ 7.2pp
Current ratio1.75within the sector's middle half▼ 1.061.44within the sector's middle half▼ 0.301.67within the sector's middle half▲ 0.222.03within the sector's middle half▲ 0.361.01below the sector's middle half▼ 1.02
Return on assets (ROA)18.8%above the sector's middle half▲ 37.7pp4.4%within the sector's middle half▼ 14.4pp-1.6%below the sector's middle half▼ 6.0pp2.6%within the sector's middle half▲ 4.1pp-0.6%below the sector's middle half▼ 3.2pp
Staff (FTE)3.8within the sector's middle half▲ 5.6%3.8within the sector's middle half=2.9within the sector's middle half▼ 23.7%2.9within the sector's middle half=3.9▲ 34.5%
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €5,207 after €17,720 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€870,896 ▲ 45.1%
Current assets
€169,565 ▼ 43.6%
Equity and liabilities €1.0m
Equity
€436,918 ▼ 1.4%
Debt
€603,544 ▲ 32.0%
Debt's share of the balance-sheet total rises from 50.8% to 58.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€12,413▼
2024 · €61,188
Cash flow
€11,240▼
2024 · €66,582
Debt to equity
1.38▲
2024 · 1.03
ROE
-1.5%▼
2024 · 5.2%
Interest coverage
35.73▲
2024 · 30.47
Debt ≤ 1 year
€168,544▲
2024 · €148,430
Debt > 1 year
€435,000▲
2024 · €308,942
Income taxes
€840▼
2024 · €3,893
Staff costs
€452,915▲
2024 · €409,449
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 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% | 1.7% |
| 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 75% 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 12,321 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €462,454 | €375,051 | €409,449 | €452,915 | ▲ 10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,282 | €41,244 | €48,901 | €43,468 | €17,621 | ▼ 59.5% |
| Other operating charges640/8 | - | €1,941 | €10,862 | €15,888 | €11,078 | ▼ 30.3% |
| Non-recurring operating charges66A | - | - | - | €11,996 | €0 | ▼ 100% |
| Gross operating margin9900 | €607,417 | €540,424 | €422,607 | €498,521 | €476,406 | ▼ 4.4% |
| Operating profit (loss)9901 | €137,406 | €34,785 | -€12,208 | €17,720 | -€5,207 | ▼ 129% |
| Financial income75/76B | - | €573 | €566 | €11,294 | €13 | ▼ 99.9% |
| Recurring financial income75 | €603 | €573 | €566 | €11,294 | €13 | ▼ 99.9% |
| Financial charges65/66B | - | €396 | €457 | €2,008 | €347 | ▼ 82.7% |
| Recurring financial charges65 | €1,058 | €396 | €457 | €2,008 | €347 | ▼ 82.7% |
| Profit (loss) for the period before taxes9903 | €136,951 | €34,962 | -€12,099 | €27,007 | -€5,541 | ▼ 121% |
| Income taxes67/77 | €927 | -€90 | €0 | €3,893 | €840 | ▼ 78.4% |
| Profit (loss) for the period9904 | €136,024 | €35,052 | -€12,099 | €23,114 | -€6,381 | ▼ 128% |
| Profit (loss) for the period to be appropriated9905 | €136,024 | €35,052 | -€12,099 | €23,114 | -€6,381 | ▼ 128% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €723,548 | €792,513 | €779,938 | €900,670 | €1.0m | ▲ 15.5% |
| Fixed assets21/28 | €442,899 | €580,351 | €623,769 | €600,005 | €870,896 | ▲ 45.1% |
| Tangible fixed assets22/27 | €442,249 | €579,701 | €623,119 | €594,510 | €725,553 | ▲ 22.0% |
| Land and buildings22 | - | €262,531 | €260,978 | €247,256 | €233,197 | ▼ 5.7% |
| Plant, machinery and equipment23 | - | - | - | €2,802 | €2,962 | ▲ 5.7% |
| Furniture and vehicles24 | - | €44,185 | €29,524 | €23,367 | €28,308 | ▲ 21.1% |
| Assets under construction and advance payments27 | - | €272,985 | €332,617 | €321,086 | €461,086 | ▲ 43.6% |
| Financial fixed assets28 | €650 | €650 | €650 | €5,495 | €145,343 | ▲ 2,545% |
| Current assets29/58 | €280,649 | €212,163 | €156,169 | €300,665 | €169,565 | ▼ 43.6% |
| Amounts receivable after more than one year29 | - | - | €15,000 | €20,000 | €20,000 | = |
| Other amounts receivable291 | - | - | €15,000 | €20,000 | €20,000 | = |
| Amounts receivable within one year40/41 | €97,471 | €82,180 | €69,029 | €268,238 | €87,602 | ▼ 67.3% |
| Trade receivables40 | - | €79,275 | €61,507 | €267,897 | €61,004 | ▼ 77.2% |
| Other amounts receivable41 | - | €2,905 | €7,522 | €341 | €26,598 | ▲ 7,703% |
| Current investments50/53 | €248 | €248 | €248 | €248 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €182,930 | €129,735 | €71,893 | €12,179 | €61,963 | ▲ 409% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €723,548 | €792,513 | €779,938 | €900,670 | €1.0m | ▲ 15.5% |
| Equity10/15 | €397,231 | €432,284 | €420,185 | €443,299 | €436,918 | ▼ 1.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €398,645 | €413,684 | €401,585 | €424,699 | €418,318 | ▼ 1.5% |
| Tax-exempt reserves132 | - | €29,529 | €29,529 | €29,529 | €29,529 | = |
| Distributable reserves133 | - | €384,154 | €372,056 | €395,169 | €388,788 | ▼ 1.6% |
| Profit (loss) carried forward14 | -€20,014 | €0 | - | - | - | - |
| Amounts payable17/49 | €326,317 | €360,230 | €359,753 | €457,372 | €603,544 | ▲ 32.0% |
| Amounts payable after more than one year17 | €165,577 | €213,365 | €266,154 | €308,942 | €435,000 | ▲ 40.8% |
| Financial debts170/4 | - | €213,365 | €266,154 | €308,942 | €435,000 | ▲ 40.8% |
| Amounts payable within one year42/48 | €160,740 | €146,865 | €93,600 | €148,430 | €168,544 | ▲ 13.6% |
| Trade debts44 | €79,005 | €25,888 | €974 | €44,091 | €18,805 | ▼ 57.3% |
| Suppliers440/4 | - | €25,888 | €974 | €44,091 | €18,805 | ▼ 57.3% |
| Taxes, remuneration and social security45 | - | €111,141 | €77,137 | €96,641 | €91,385 | ▼ 5.4% |
| Taxes450/3 | - | €52,182 | €32,147 | €48,039 | €35,614 | ▼ 25.9% |
| Remuneration and social security454/9 | - | €58,958 | €44,990 | €48,601 | €55,772 | ▲ 14.8% |
| Other amounts payable47/48 | - | €9,836 | €15,489 | €7,697 | €58,353 | ▲ 658% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €136,024 | €35,052 | -€12,099 | €23,114 | -€6,381 | ▼ 128% |
| + Depreciation and write-downs630 | €29,282 | €41,244 | €48,901 | €43,468 | €17,621 | ▼ 59.5% |
| Operating cash flow (approximation) | €165,306 | €76,297 | €36,803 | €66,582 | €11,240 | ▼ 83.1% |
| Investment in fixed assets (approximation) | - | -€178,696 | -€92,320 | -€19,704 | -€288,512 | ▼ 1,364% |
| Change in cash | - | -€53,195 | -€57,842 | -€59,714 | €49,784 | ▲ 183% |
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
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
08-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Back to profitnet €23,114
Net result €23,114 after one loss-making year.
21-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
07-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Back to profitnet €136,024
Net result €136,024 after one loss-making year.
15-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Weakest financial yearnet -€77,021
Net result drops to -€77,021, the lowest in the series; recovery starts the following year.
12-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-03
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 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Gillis-Waas · 1 establishment unit since 2002
Ground area
3,264 m²
Building footprint
220 m²
Volume, LiDAR
1,459 m³
Parcel 46020E0333/00F000, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Samelstraat(SGW) 21 A, 9170 Sint-Gillis-Waas
since 20022.114.652.557
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46020E0333/00F000 | Flanders | 3,264 m² | 1 · 220 m² | 10.4 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 2
-
90%
-
23.2%
According to the annual accounts to 30-09-2025 of FORTECH STUDIE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 18,250 companies in sector 71111 we hold annual accounts for 6,321. 4,207 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-10-2002
Fiscal year end30-09
Activities, NACEBEL 2025
71111Activities of building architects
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478683023
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.