FPTC
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 32 days after the deadline Filed on 4 March 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00048623.
Annual accounts 2025 filed on 04-03-2026 PDF all 16 filings
Turnover
≈ €1.0m
Estimated: probably between €890,000 and €1.2m
Total assets
€650,599▲ 104%
2024 · €319,429
Net result
€54,044▲ 975%
2024 · €5,027
Working capital
€71,850▲ 178%
2024 · €25,873
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€80,759
▲ 146%
2025
20192025
Net result
€54,044
▲ 975%
2025
highest quarter of the sector
20192025
Equity
€88,566
▲ 157%
2025
middle half of the sector
20192025
Total assets
€650,599
▲ 104%
2025
highest quarter of the sector
20192025
Debt
€562,033
▲ 97.3%
2025
20192025
Working capital
€71,850
▲ 178%
2025
highest quarter of the sector
20192025
Solvency
13.6%
▲ 2.8pp
2025
middle half of the sector
20192025
Current ratio
1.13
▲ 0.04
2025
middle half of the sector
20192025
Return on assets (ROA)
8.3%
▲ 6.7pp
2025
middle half of the sector
20192025
Staff (FTE)
5.8
▲ 70.6%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€47,262-€6,448▼ 86.4%€5,815▼ 9.8%€138▼ 97.6%€46,546▲ 336×€32,868▼ 29.4%€80,759▲ 146%
Net result€41,887-€5,832within the sector's middle half▼ 86.1%€2,419within the sector's middle half▼ 58.5%-€3,116within the sector's middle half€7,559within the sector's middle half€5,027within the sector's middle half▼ 33.5%€54,044above the sector's middle half▲ 975%
Equity€16,801-€22,633within the sector's middle half▲ 34.7%€25,051within the sector's middle half▲ 10.7%€21,936within the sector's middle half▼ 12.4%€29,495within the sector's middle half▲ 34.5%€34,522within the sector's middle half▲ 17.0%€88,566within the sector's middle half▲ 157%
Total assets€46,699-€42,993within the sector's middle half▼ 7.9%€161,334within the sector's middle half▲ 275%€295,234above the sector's middle half▲ 83.0%€261,873above the sector's middle half▼ 11.3%€319,429above the sector's middle half▲ 22.0%€650,599above the sector's middle half▲ 104%
Debt€29,898-€20,361▼ 31.9%€136,283▲ 569%€273,299▲ 101%€232,378▼ 15.0%€284,908▲ 22.6%€562,033▲ 97.3%
Working capital€16,801-€22,633within the sector's middle half▲ 34.7%€25,051within the sector's middle half▲ 10.7%€18,879within the sector's middle half▼ 24.6%€26,563within the sector's middle half▲ 40.7%€25,873within the sector's middle half▼ 2.6%€71,850above the sector's middle half▲ 178%
Solvency36.0%-52.6%within the sector's middle half▲ 16.7pp15.5%within the sector's middle half▼ 37.1pp7.4%within the sector's middle half▼ 8.1pp11.3%within the sector's middle half▲ 3.8pp10.8%within the sector's middle half▼ 0.5pp13.6%within the sector's middle half▲ 2.8pp
Current ratio1.56-2.11within the sector's middle half▲ 0.551.18within the sector's middle half▼ 0.931.07within the sector's middle half▼ 0.111.12within the sector's middle half▲ 0.051.09within the sector's middle half▼ 0.021.13within the sector's middle half▲ 0.04
Return on assets (ROA)89.7%-13.6%within the sector's middle half▼ 76.1pp1.5%within the sector's middle half▼ 12.1pp-1.1%within the sector's middle half▼ 2.6pp2.9%within the sector's middle half▲ 3.9pp1.6%within the sector's middle half▼ 1.3pp8.3%within the sector's middle half▲ 6.7pp
Staff (FTE)1.73.4▲ 100%5.8▲ 70.6%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 146% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
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 €650,599
Fixed assets
€34,900 ▲ 304%
Current assets
€615,699 ▲ 98.1%
Equity and liabilities €650,599
Equity
€88,566 ▲ 157%
Debt
€562,033 ▲ 97.3%
Debt's share of the balance-sheet total falls from 89.2% to 86.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€93,618▲
2024 · €34,307
Cash flow
€66,904▲
2024 · €6,466
Quick ratio
0.75▼
2024 · 0.77
Debt to equity
6.35▼
2024 · 8.25
ROE
61.0%▲
2024 · 14.6%
Interest coverage
8.42▲
2024 · 1.34
Debt ≤ 1 year
€543,849▲
2024 · €284,908
Debt > 1 year
€18,183
Income taxes
€23,068▲
2024 · €6,200
Staff costs
€258,393▲
2024 · €156,800
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 10 |
| full-time | 2 | 2 | 10 |
| part-time | 1 | 1 | - |
| in full-time equivalents | 2.6 | 2.6 | 10 |
| Average over the year, in full-time equivalents | 1.7 | 3.4 | 5.8 |
| On a permanent contract | 3 | 3 | 2 |
| Joined | 9 | 117 | 417 |
| Left | 7 | 117 | 410 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €3,363 | €2,693 | €5,226 | €1,287 |
| Depreciation and write-downs of the year | €306 | €888 | €1,439 | €12,860 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €27,590 | €88,979 | €156,800 | €258,393 | ▲ 64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €900 | - | - | €306 | €888 | €1,439 | €12,860 | ▲ 794% |
| Other operating charges640/8 | - | - | - | €1,652 | €2,990 | €461 | €74,046 | ▲ 161× |
| Non-recurring operating charges66A | - | - | - | - | - | - | €5,675 | - |
| Gross operating margin9900 | €49,624 | €7,243 | €8,986 | €29,686 | €139,403 | €191,568 | €431,733 | ▲ 125% |
| Operating profit (loss)9901 | €47,262 | €6,448 | €5,815 | €138 | €46,546 | €32,868 | €80,759 | ▲ 146% |
| Financial income75/76B | - | - | - | €8,157 | €8,043 | €4,023 | €7,472 | ▲ 85.7% |
| Recurring financial income75 | - | €2,929 | €6,060 | €8,157 | €8,043 | €4,023 | €7,472 | ▲ 85.7% |
| Financial charges65/66B | - | - | - | €5,881 | €35,787 | €25,664 | €11,119 | ▼ 56.7% |
| Recurring financial charges65 | €1,989 | €2,227 | €6,072 | €5,881 | €35,787 | €25,664 | €11,119 | ▼ 56.7% |
| Profit (loss) for the period before taxes9903 | €45,274 | €7,149 | €5,804 | €2,414 | €18,802 | €11,228 | €77,112 | ▲ 587% |
| Income taxes67/77 | €3,387 | €1,318 | €3,385 | €5,530 | €11,244 | €6,200 | €23,068 | ▲ 272% |
| Profit (loss) for the period9904 | €41,887 | €5,832 | €2,419 | -€3,116 | €7,559 | €5,027 | €54,044 | ▲ 975% |
| Profit (loss) for the period to be appropriated9905 | €41,887 | €5,832 | €2,419 | -€3,116 | €7,559 | €5,027 | €54,044 | ▲ 975% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €46,699 | €42,993 | €161,334 | €295,234 | €261,873 | €319,429 | €650,599 | ▲ 104% |
| Fixed assets21/28 | - | - | - | €3,057 | €4,862 | €8,648 | €34,900 | ▲ 304% |
| Tangible fixed assets22/27 | - | - | - | €3,057 | €4,862 | €8,648 | €34,900 | ▲ 304% |
| Plant, machinery and equipment23 | - | - | - | - | - | €2,081 | €1,597 | ▼ 23.3% |
| Furniture and vehicles24 | - | - | - | €3,057 | €2,384 | €1,712 | €2,048 | ▲ 19.6% |
| Leasing and similar rights25 | - | - | - | - | - | - | €26,950 | - |
| Other tangible fixed assets26 | - | - | - | - | €2,477 | €4,855 | €4,305 | ▼ 11.3% |
| Current assets29/58 | €46,699 | €42,993 | €161,334 | €292,178 | €257,011 | €310,781 | €615,699 | ▲ 98.1% |
| Stocks and contracts in progress3 | - | - | - | - | €74,890 | €90,160 | €205,929 | ▲ 128% |
| Stocks30/36 | - | - | - | - | €74,890 | €90,160 | €205,929 | ▲ 128% |
| Amounts receivable within one year40/41 | €46,657 | €41,180 | €156,020 | €274,733 | €175,065 | €216,590 | €371,642 | ▲ 71.6% |
| Trade receivables40 | - | - | - | €95,054 | €111,207 | €122,948 | €234,074 | ▲ 90.4% |
| Other amounts receivable41 | - | - | - | €179,679 | €63,858 | €93,642 | €137,568 | ▲ 46.9% |
| Cash at bank and in hand54/58 | €43 | €1,814 | €5,085 | €6,000 | €6,873 | €4,031 | €37,600 | ▲ 833% |
| Deferred charges and accrued income490/1 | - | - | - | €11,445 | €183 | - | €527 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €46,699 | €42,993 | €161,334 | €295,234 | €261,873 | €319,429 | €650,599 | ▲ 104% |
| Equity10/15 | €16,801 | €22,633 | €25,051 | €21,936 | €29,495 | €34,522 | €88,566 | ▲ 157% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €28,322 | €82,366 | ▲ 191% |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | €28,322 | €82,366 | ▲ 191% |
| Profit (loss) carried forward14 | €8,741 | €14,573 | €16,991 | €13,876 | €21,435 | - | - | - |
| Amounts payable17/49 | €29,898 | €20,361 | €136,283 | €273,299 | €232,378 | €284,908 | €562,033 | ▲ 97.3% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €18,183 | - |
| Financial debts170/4 | - | - | - | - | - | - | €18,183 | - |
| Amounts payable within one year42/48 | €29,898 | €20,361 | €136,283 | €273,299 | €230,448 | €284,908 | €543,849 | ▲ 90.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €10,289 | - |
| Financial debts43 | - | - | - | €4,999 | €4,755 | €5,426 | €60 | ▼ 98.9% |
| Credit institutions430/8 | - | - | - | €4,999 | €4,755 | €5,426 | €60 | ▼ 98.9% |
| Trade debts44 | €25,525 | €5,196 | €116,684 | €259,587 | €188,327 | €195,900 | €387,543 | ▲ 97.8% |
| Suppliers440/4 | - | - | - | €259,587 | €188,327 | €195,900 | €387,543 | ▲ 97.8% |
| Taxes, remuneration and social security45 | - | - | - | €8,714 | €37,366 | €83,582 | €145,957 | ▲ 74.6% |
| Taxes450/3 | - | - | - | €5,530 | €31,368 | €80,325 | €132,687 | ▲ 65.2% |
| Remuneration and social security454/9 | - | - | - | €3,184 | €5,998 | €3,257 | €13,270 | ▲ 307% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,930 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,887 | €5,832 | €2,419 | -€3,116 | €7,559 | €5,027 | €54,044 | ▲ 975% |
| + Depreciation and write-downs630 | €900 | - | - | €306 | €888 | €1,439 | €12,860 | ▲ 794% |
| Operating cash flow (approximation) | €42,787 | €5,832 | €2,419 | -€2,810 | €8,447 | €6,466 | €66,904 | ▲ 935% |
| Investment in fixed assets (approximation) | - | - | - | - | -€2,693 | -€5,226 | -€39,112 | ▼ 648% |
| Change in cash | - | €1,771 | €3,271 | €915 | €873 | -€2,842 | €33,569 | - |
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, 5,053 companies had the same profile as FPTC has now. Two years later, 95.8% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FPTC itself: 1.0% 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 5,053 companies, not a prediction for FPTC. 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.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 04-03-2026 | 2026-00048623 | |
| 30-06-2024 | micro format | 25-02-2025 | 2025-00039169 | |
| 30-06-2023 | micro format | 22-02-2024 | 2024-00033801 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00015155 | |
| 30-06-2021 | micro format | 01-02-2022 | 2022-04500009 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-02800542 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-04000212 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-03700528 | |
| 30-06-2017 | micro format | 19-12-2017 | 2017-73200067 | |
| 30-06-2016 | abbreviated format | 30-01-2017 | 2017-03400359 |