FS-ADMIN
ActiveSummary
FS-ADMIN has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €30,274 and a net result of €5,371. Equity is shrinking by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 35% of 34 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+4
Solvency47▼-1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 2.83 against 1.57 in 2024; short-term debt: 26.7% and cash: 11.7% of total assets), but 78% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
22%
Return on assets
3.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
29 d early
2024
25 d late
2023
41 d early
2022
34 d early
2021
34 d early
2020
33 d early
2019
on the day
← 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 21 days before the deadline; the sector median for financial year 2024 is 21 days before the deadline, and 31% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€30,274▲ 21.6%
2024 · €24,904
Total assets
€137,304▲ 26.6%
2024 · €108,455
Net result
€5,371▼ 85.9%
2024 · €38,039
Working capital
€67,191▲ 292%
2024 · €17,154
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€50,259▲ 134%€24,156▼ 51.9%-€69,250€66,339€7,616▼ 88.5%
Net result€35,735€9,015▼ 74.8%-€84,304€38,039€5,371▼ 85.9%
Equity€62,154▲ 6.1%€71,169▲ 14.5%-€13,135€24,904€30,274▲ 21.6%
Total assets€609,446▼ 17.6%€619,911▲ 1.7%€653,157▲ 5.4%€108,455▼ 83.4%€137,304▲ 26.6%
Debt€547,292▼ 19.9%€548,742▲ 0.3%€666,292▲ 21.4%€83,551▼ 87.5%€107,030▲ 28.1%
Working capital€123,832▲ 66.6%€145,318▲ 17.4%€4,097▼ 97.2%€17,154▲ 319%€67,191▲ 292%
Staff (FTE)2.4=2.5▲ 4.2%2.4▼ 4.0%
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 falls in 2025; 2025 is 89% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,304
Fixed assets
€33,489 ▼ 45.3%
Current assets
€103,815 ▲ 120%
Equity and liabilities €137,304
Equity
€30,274 ▲ 21.6%
Debt
€107,030 ▲ 28.1%
Debt's share of the balance-sheet total rises from 77.0% to 78.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€15,118▼
2024 · €69,057
Cash flow
€12,873▼
2024 · €40,757
Current ratio
2.83▲
2024 · 1.57
Debt to equity
3.54▲
2024 · 3.35
ROE
17.7%▼
2024 · 152.7%
ROA
3.9%▼
2024 · 35.1%
Interest coverage
9.00▲
2024 · 2.43
Debt ≤ 1 year
€36,625▲
2024 · €30,051
Debt > 1 year
€70,406▲
2024 · €53,500
Income taxes
€565▲
2024 · €326
Staff costs
-€763▼
2024 · €69,059
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €104,240 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €141,167 | €134,809 | €133,335 | €69,059 | -€763 | ▼ 101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €69,717 | €70,508 | €15,815 | €2,719 | €7,502 | ▲ 176% |
| Other operating charges640/8 | €6,373 | €7,887 | €6,404 | €48,130 | €5,490 | ▼ 88.6% |
| Non-recurring operating charges66A | €2,896 | €0 | - | - | €17,795 | - |
| Gross operating margin9900 | €270,412 | €237,361 | €86,305 | €186,247 | €37,640 | ▼ 79.8% |
| Operating profit (loss)9901 | €50,259 | €24,156 | -€69,250 | €66,339 | €7,616 | ▼ 88.5% |
| Financial income75/76B | €334 | €5 | €398 | €465 | €0 | ▼ 100% |
| Recurring financial income75 | €334 | €5 | €398 | €465 | €0 | ▼ 100% |
| Financial charges65/66B | €13,179 | €12,647 | €15,834 | €28,439 | €1,680 | ▼ 94.1% |
| Recurring financial charges65 | €13,179 | €12,647 | €15,834 | €28,439 | €1,680 | ▼ 94.1% |
| Profit (loss) for the period before taxes9903 | €37,414 | €11,515 | -€84,686 | €38,364 | €5,936 | ▼ 84.5% |
| Income taxes67/77 | €1,680 | €2,500 | -€381 | €326 | €565 | ▲ 73.5% |
| Profit (loss) for the period9904 | €35,735 | €9,015 | -€84,304 | €38,039 | €5,371 | ▼ 85.9% |
| Profit (loss) for the period to be appropriated9905 | €35,735 | €9,015 | -€84,304 | €38,039 | €5,371 | ▼ 85.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €609,446 | €619,911 | €653,157 | €108,455 | €137,304 | ▲ 26.6% |
| Fixed assets21/28 | €413,449 | €382,360 | €499,045 | €61,250 | €33,489 | ▼ 45.3% |
| Tangible fixed assets22/27 | €413,314 | €382,225 | €498,910 | €61,250 | €33,489 | ▼ 45.3% |
| Land and buildings22 | €334,420 | €368,002 | €359,920 | €0 | - | - |
| Plant, machinery and equipment23 | €78,403 | €13,989 | €9,576 | €0 | - | - |
| Furniture and vehicles24 | €490 | €234 | €0 | €61,250 | €0 | ▼ 100% |
| Leasing and similar rights25 | - | - | €129,414 | €0 | €33,489 | - |
| Financial fixed assets28 | €135 | €135 | €135 | €0 | - | - |
| Current assets29/58 | €195,997 | €237,551 | €154,111 | €47,205 | €103,815 | ▲ 120% |
| Stocks and contracts in progress3 | €114,935 | €132,785 | €85,500 | €0 | - | - |
| Stocks30/36 | €114,935 | €132,785 | €85,500 | €0 | - | - |
| Amounts receivable within one year40/41 | €65,708 | €89,866 | €64,237 | €32,744 | €86,565 | ▲ 164% |
| Trade receivables40 | €65,708 | €89,557 | €61,443 | €14,888 | €85,855 | ▲ 477% |
| Other amounts receivable41 | €0 | €309 | €2,794 | €17,857 | €709 | ▼ 96.0% |
| Cash at bank and in hand54/58 | €15,063 | €14,901 | €4 | €12,443 | €16,001 | ▲ 28.6% |
| Deferred charges and accrued income490/1 | €292 | €0 | €4,371 | €2,017 | €1,250 | ▼ 38.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €609,446 | €619,911 | €653,157 | €108,455 | €137,304 | ▲ 26.6% |
| Equity10/15 | €62,154 | €71,169 | -€13,135 | €24,904 | €30,274 | ▲ 21.6% |
| Contributions10/11 | €60,000 | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Reserves13 | €1,787 | €1,787 | €1,787 | €1,787 | €1,787 | = |
| Non-distributable reserves130/1 | €1,787 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €1,787 | €0 | - | - | - | - |
| Distributable reserves133 | - | €1,787 | €1,787 | €1,787 | €1,787 | = |
| Profit (loss) carried forward14 | €367 | €9,383 | -€74,922 | -€36,883 | -€31,513 | ▲ 14.6% |
| Amounts payable17/49 | €547,292 | €548,742 | €666,292 | €83,551 | €107,030 | ▲ 28.1% |
| Amounts payable after more than one year17 | €475,127 | €456,509 | €516,278 | €53,500 | €70,406 | ▲ 31.6% |
| Financial debts170/4 | €475,127 | €456,509 | €516,278 | €53,500 | €70,406 | ▲ 31.6% |
| Amounts payable within one year42/48 | €72,165 | €92,233 | €150,014 | €30,051 | €36,625 | ▲ 21.9% |
| Current portion of amounts payable after more than one year42 | €49,289 | €49,335 | €58,034 | €0 | €7,495 | - |
| Financial debts43 | - | - | €17,419 | €0 | - | - |
| Credit institutions430/8 | - | - | €17,419 | €0 | - | - |
| Trade debts44 | €15,938 | €21,462 | €59,266 | €6,523 | €5,711 | ▼ 12.5% |
| Suppliers440/4 | €15,938 | €21,462 | €59,266 | €6,523 | €5,711 | ▼ 12.5% |
| Taxes, remuneration and social security45 | €4,736 | €20,734 | €13,397 | €5,430 | €565 | ▼ 89.6% |
| Taxes450/3 | €4,736 | €20,734 | €7,896 | €1,570 | €565 | ▼ 64.0% |
| Remuneration and social security454/9 | - | - | €5,501 | €3,860 | €0 | ▼ 100% |
| Other amounts payable47/48 | €2,201 | €701 | €1,898 | €18,098 | €22,854 | ▲ 26.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,735 | €9,015 | -€84,304 | €38,039 | €5,371 | ▼ 85.9% |
| + Depreciation and write-downs630 | €69,717 | €70,508 | €15,815 | €2,719 | €7,502 | ▲ 176% |
| Operating cash flow (approximation) | €105,452 | €79,524 | -€68,489 | €40,757 | €12,873 | ▼ 68.4% |
| Investment in fixed assets (approximation) | - | -€39,420 | -€132,500 | €435,077 | €20,259 | ▼ 95.3% |
| Change in cash | - | -€162 | -€14,897 | €12,440 | €3,557 | ▼ 71.4% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Back to profitnet €38,039
Net result €38,039 after one loss-making year.
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€84,304
Net result drops to -€84,304, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €35,735
Net result €35,735 after 3 loss-making years.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 11 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Aalter · 1 establishment unit since 2018
Ground area
210 m²
Building footprint
210 m²
Volume, LiDAR
1,322 m³
Parcel 44029B0616/00G000, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
FS-ADMIN
since 20182.270.989.140
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44029B0616/00G000 | Flanders | 210 m² | 1 · 210 m² | 9.3 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.
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Of 113 companies in sector 08111 we hold annual accounts for 95. 29 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
Founded06-12-2017
Fiscal year end31-12
Activities, NACEBEL 2025
08111Other mining and quarrying
41001General construction of residential buildings
46831Wholesale of construction materials, general range
47529Retail trade
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.