FRANVESCO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 11-06-2026 PDF all 29 filings
Turnover
€363,730▲ 3.9%
2024 · €350,140
EBIT margin
27.0%▼ 2.1pp
2024 · 29.1%
Net result
€82,858▲ 6.1%
2024 · €78,070
Working capital
-€138,172
2024 · €93,314
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€363,730
▲ 3.9%
2025
20182025
Operating result
€98,222
▼ 3.8%
2025
20182025
Net result
€82,858
▲ 6.1%
2025
highest quarter of the sector
20182025
EBIT margin
27.0%
▼ 2.1pp
2025
20182025
Equity
€2.1m
▲ 4.1%
2025
highest quarter of the sector
20182025
Total assets
€2.6m
▲ 11.0%
2025
highest quarter of the sector
20182025
Debt
€498,032
▲ 54.1%
2025
20182025
Working capital
-€138,172
2025
lowest quarter of the sector
20182025
Solvency
80.9%
▼ 5.3pp
2025
highest quarter of the sector
20182025
Current ratio
0.59
▼ 1.30
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
3.2%
▼ 0.1pp
2025
middle half of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.3m-€0.3m▲ 12.8%€0.3m▲ 4.7%€0.3m▲ 0.4%€0.3m▲ 7.0%€0.3m▲ 8.0%€0.4m▲ 2.2%€0.4m▲ 3.9%
Operating result-€0.1m--€0.1m▲ 12.8%-€0.06m▲ 41.5%-€0.07m▼ 4.4%-€0.08m▼ 22.3%-€0.04m▲ 53.5%€0.1m€0.1m▼ 3.8%
Net result-€0.2m--€0.1m▲ 13.3%-€0.09mbelow the sector's middle half▲ 36.3%-€0.09mbelow the sector's middle half▲ 4.9%-€0.1mbelow the sector's middle half▼ 14.2%-€0.07mbelow the sector's middle half▲ 33.0%€0.08mabove the sector's middle half€0.08mabove the sector's middle half▲ 6.1%
EBIT margin-49.1%--38.0%▲ 11.1pp-21.2%▲ 16.8pp-22.1%▼ 0.8pp-25.2%▼ 3.2pp-10.9%▲ 14.4pp29.1%▲ 40.0pp27.0%▼ 2.1pp
Equity€2.4m-€2.3m▼ 5.9%€2.2mwithin the sector's middle half▼ 4.0%€2.1mwithin the sector's middle half▼ 4.0%€2.0mwithin the sector's middle half▼ 4.7%€2.0mwithin the sector's middle half▼ 3.3%€2.0mabove the sector's middle half▲ 4.0%€2.1mabove the sector's middle half▲ 4.1%
Total assets€3.7m-€3.4m▼ 7.9%€3.0mwithin the sector's middle half▼ 10.3%€2.8mwithin the sector's middle half▼ 9.4%€2.7mwithin the sector's middle half▼ 3.6%€2.4mwithin the sector's middle half▼ 9.5%€2.4mabove the sector's middle half▼ 2.0%€2.6mabove the sector's middle half▲ 11.0%
Debt€1.2m-€1.1m▼ 11.9%€0.8m▼ 23.5%€0.6m▼ 23.7%€0.6m=€0.4m▼ 29.1%€0.3m▼ 28.0%€0.5m▲ 54.1%
Working capital-€0.6m--€0.5m▲ 19.9%-€0.3mbelow the sector's middle half▲ 27.9%-€0.2mbelow the sector's middle half▲ 49.7%-€0.2mbelow the sector's middle half▲ 1.8%-€0.1mwithin the sector's middle half▲ 42.0%€0.09mwithin the sector's middle half-€0.1mbelow the sector's middle half
Solvency66.5%-67.9%▲ 1.4pp72.7%within the sector's middle half▲ 4.7pp77.0%above the sector's middle half▲ 4.3pp76.1%above the sector's middle half▼ 0.9pp81.3%above the sector's middle half▲ 5.2pp86.3%above the sector's middle half▲ 5.0pp80.9%above the sector's middle half▼ 5.3pp
Current ratio0.13-0.19▲ 0.070.12below the sector's middle half▼ 0.080.30below the sector's middle half▲ 0.180.45below the sector's middle half▲ 0.150.44below the sector's middle half=1.89within the sector's middle half▲ 1.450.59below the sector's middle half▼ 1.30
Return on assets (ROA)-4.5%--4.3%▲ 0.3pp-3.0%below the sector's middle half▲ 1.2pp-3.2%below the sector's middle half▼ 0.2pp-3.8%below the sector's middle half▼ 0.6pp-2.8%below the sector's middle half▲ 1.0pp3.3%within the sector's middle half▲ 6.1pp3.2%within the sector's middle half▼ 0.1pp
Staff (FTE)1-1=1below the sector's middle half=1below the sector's middle half=1within the sector's middle half=1within the sector's middle half=1=1=
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 4% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.4m ▲ 11.9%
Current assets
€199,901 ▲ 0.8%
Equity and liabilities €2.6m
Equity
€2.1m ▲ 4.1%
Debt
€498,032 ▲ 54.1%
Debt's share of the balance-sheet total rises from 13.7% to 19.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€293,497▼
2024 · €326,043
Cash flow
€278,133▼
2024 · €302,051
Debt to equity
0.24▲
2024 · 0.16
ROE
3.9%▲
2024 · 3.8%
Interest coverage
24.85▲
2024 · 17.50
Debt ≤ 1 year
€338,073▲
2024 · €104,914
Debt > 1 year
€159,959▼
2024 · €218,125
Income taxes
€3,572▼
2024 · €6,667
Customer credit
12 days▲
2024 · 5 days
Supplier credit
19 days▼
2024 · 63 days
Staff costs
€56,544▲
2024 · €55,713
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €450,792 | €392,625 | €334,459 | - | - |
| Mortgages, amount registered | €260,288 | €260,288 | €260,288 | €260,288 | €260,288 |
| Mortgage mandates | €396,629 | €396,629 | €396,629 | €396,629 | €396,629 |
| Carrying value of the mortgaged assets | €2.7m | €2.5m | €2.3m | €2.1m | €2.1m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €16,052 | €181,503 | €134,946 | €54,654 | €451,396 |
| Depreciation and write-downs of the year | €327,876 | €328,840 | €329,612 | €223,981 | €195,276 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €250,210 | €282,125 | €295,280 | €296,335 | €317,080 | €342,500 | €350,140 | €363,730 | ▲ 3.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €113,100 | €170,360 | €171,627 | €115,306 | €164,670 | ▲ 42.8% |
| Remuneration, social security and pensions62 | - | - | - | €36,393 | €39,247 | €53,033 | €55,713 | €56,544 | ▲ 1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €347,442 | €353,277 | €325,893 | €327,876 | €328,840 | €329,612 | €223,981 | €195,276 | ▼ 12.8% |
| Other operating charges640/8 | - | - | - | €23,725 | €9,298 | €8,826 | €8,192 | €8,446 | ▲ 3.1% |
| Gross operating margin9900 | €281,903 | €304,593 | €321,068 | €322,593 | €297,386 | €354,271 | €389,949 | €358,487 | ▼ 8.1% |
| Operating profit (loss)9901 | -€122,814 | -€107,154 | -€62,661 | -€65,401 | -€79,998 | -€37,200 | €102,062 | €98,222 | ▼ 3.8% |
| Financial income75/76B | - | - | - | €14 | €14 | €15 | €1,311 | €19 | ▼ 98.6% |
| Recurring financial income75 | €18 | €13 | €13 | €14 | €14 | €15 | €1,311 | €19 | ▼ 98.6% |
| Financial charges65/66B | - | - | - | €19,748 | €15,738 | €27,055 | €18,636 | €11,811 | ▼ 36.6% |
| Recurring financial charges65 | €35,006 | €34,601 | €26,769 | €19,748 | €15,738 | €27,055 | €18,636 | €11,811 | ▼ 36.6% |
| Profit (loss) for the period before taxes9903 | -€157,802 | -€141,742 | -€89,417 | -€85,135 | -€95,722 | -€64,239 | €84,737 | €86,430 | ▲ 2.0% |
| Income taxes67/77 | €8,971 | €2,791 | €2,706 | €2,491 | €4,346 | €2,846 | €6,667 | €3,572 | ▼ 46.4% |
| Profit (loss) for the period9904 | -€166,773 | -€144,532 | -€92,123 | -€87,626 | -€100,068 | -€67,085 | €78,070 | €82,858 | ▲ 6.1% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €783 | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €73 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€166,843 | -€144,603 | -€92,195 | -€87,699 | -€99,285 | -€67,085 | €78,070 | €82,858 | ▲ 6.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.7m | €3.4m | €3.0m | €2.8m | €2.7m | €2.4m | €2.4m | €2.6m | ▲ 11.0% |
| Fixed assets21/28 | €3.6m | €3.3m | €3.0m | €2.7m | €2.5m | €2.3m | €2.2m | €2.4m | ▲ 11.9% |
| Tangible fixed assets22/27 | €3.6m | €3.3m | €3.0m | €2.7m | €2.5m | €2.3m | €2.2m | €2.4m | ▲ 11.9% |
| Land and buildings22 | - | - | - | €2.7m | €2.5m | €2.3m | €2.1m | €2.1m | ▼ 3.5% |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.001m | €0.01m | €0.008m | €0.006m | ▼ 33.4% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.03m | €0.02m | €0.008m | €0.001m | ▼ 92.6% |
| Assets under construction and advance payments27 | - | - | - | - | - | - | - | €0.3m | - |
| Financial fixed assets28 | €58 | €58 | €58 | €58 | €58 | €58 | €58 | €58 | = |
| Current assets29/58 | €0.08m | €0.1m | €0.04m | €0.07m | €0.1m | €0.08m | €0.2m | €0.2m | ▲ 0.8% |
| Amounts receivable within one year40/41 | €0.002m | €0.001m | - | €0.03m | €0.04m | €0.004m | €0.1m | €0.01m | ▼ 89.7% |
| Trade receivables40 | - | - | - | €0.03m | €0.04m | €0.004m | €0.005m | €0.01m | ▲ 143% |
| Other amounts receivable41 | - | - | - | - | - | - | €0.1m | €0 | ▼ 100% |
| Current investments50/53 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | = |
| Cash at bank and in hand54/58 | €0.07m | €0.1m | €0.03m | €0.02m | €0.09m | €0.06m | €0.08m | €0.2m | ▲ 125% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.006m | €0.006m | ▲ 7.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.7m | €3.4m | €3.0m | €2.8m | €2.7m | €2.4m | €2.4m | €2.6m | ▲ 11.0% |
| Equity10/15 | €2.4m | €2.3m | €2.2m | €2.1m | €2.0m | €2.0m | €2.0m | €2.1m | ▲ 4.1% |
| Contributions10/11 | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | = |
| Capital10 | - | - | - | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | = |
| Issued capital100 | - | - | - | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | = |
| Reserves13 | €0.001m | €0.001m | €0.001m | €0.001m | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.001m | - | - | - | - | - |
| Profit (loss) carried forward14 | -€1.2m | -€1.4m | -€1.5m | -€1.5m | -€1.6m | -€1.7m | -€1.6m | -€1.6m | ▲ 5.1% |
| Investment grants15 | - | - | - | €111 | €98 | €85 | €72 | €59 | ▼ 18.2% |
| Amounts payable17/49 | €1.2m | €1.1m | €0.8m | €0.6m | €0.6m | €0.4m | €0.3m | €0.5m | ▲ 54.1% |
| Amounts payable after more than one year17 | €0.6m | €0.5m | €0.5m | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 26.7% |
| Financial debts170/4 | - | - | - | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 26.7% |
| Amounts payable within one year42/48 | €0.7m | €0.6m | €0.4m | €0.2m | €0.3m | €0.2m | €0.1m | €0.3m | ▲ 222% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Trade debts44 | €0.002m | €0.002m | €0.005m | €0.003m | €0.06m | €0.008m | €0.02m | €0.008m | ▼ 57.7% |
| Suppliers440/4 | - | - | - | €0.003m | €0.06m | €0.008m | €0.02m | €0.008m | ▼ 57.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.009m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 12.2% |
| Taxes450/3 | - | - | - | €0.007m | €0.03m | €0.02m | €0.02m | €0.03m | ▲ 13.7% |
| Remuneration and social security454/9 | - | - | - | €0.002m | €0.003m | €0.004m | €0.004m | €0.004m | ▲ 3.6% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.1m | €0.08m | - | €0.2m | - |
| Accrued charges and deferred income492/3 | - | - | - | €31 | €36 | €43 | €43 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€166,773 | -€144,532 | -€92,123 | -€87,626 | -€100,068 | -€67,085 | €78,070 | €82,858 | ▲ 6.1% |
| + Depreciation and write-downs630 | €347,442 | €353,277 | €325,893 | €327,876 | €328,840 | €329,612 | €223,981 | €195,276 | ▼ 12.8% |
| Operating cash flow (approximation) | €180,670 | €208,745 | €233,771 | €240,250 | €228,772 | €262,527 | €302,051 | €278,133 | ▼ 7.9% |
| Investment in fixed assets (approximation) | - | -€35,106 | -€45,761 | -€16,052 | -€167,651 | -€134,946 | -€54,654 | -€451,396 | ▼ 726% |
| Change in cash | - | €32,713 | -€68,877 | -€7,676 | €62,120 | -€26,516 | €21,771 | €101,001 | ▲ 364% |
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, 17,041 companies had the same profile as FRANVESCO has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FRANVESCO itself: < 0.1% 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 17,041 companies, not a prediction for FRANVESCO. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-06-2026 | 2026-00153742 | |
| 31-12-2024 | micro format | 21-08-2025 | 2025-00388089 | |
| 31-12-2023 | full format | 24-07-2024 | 2024-00275766 | |
| 31-12-2022 | full format | 26-07-2023 | 2023-00277273 | |
| 31-12-2021 | full format | 08-07-2022 | 2022-20163060 | |
| 31-12-2020 | full format | 20-07-2021 | 2021-37800594 | |
| 31-12-2019 | full format | 27-07-2020 | 2020-34800306 | |
| 31-12-2018 | full format | 25-07-2019 | 2019-37700342 | |
| 31-12-2017 | full format | 17-07-2018 | 2018-34200077 | |
| 31-12-2016 | full format | 28-06-2017 | 2017-23200150 |