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FSA

Active
Private limited companyfounded 1998active for 27 yearsVorstlaan 24, 1170 Watermaal-Bosvoorde, BelgiumKBO/BCE: BE 0464.690.772

Financials · financial year 2024, full format

2024 annual accounts filed 165 days after the deadline Filed on 15 July 2025, deadline 31 January 2025 (7 months after the close on 30 June 2024, Companies Code art. 3:10). Source: NBB, 2025-00275171.

Annual accounts 2024 filed on 15-07-2025 PDF all 25 filings

Turnover
≈ €750,000
Estimated: probably between €500,000 and €1.0m
EBIT margin
Not included in this filing
Net result
€7,153▼ 40.4%
2022 · €11,994
Working capital
€388,801▲ 92.9%
2022 · €201,515
Trend over the years

2018 to 2024, 5 financial years 2018 to 2024, 5 financial years

The operating result for 2024 is a loss of €6,376, against €46,180 in 2022. Comparable figures for the intervening years are unavailable.

Operating result-€0.006m 2024 Net result€0.007m 2024

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182020202120222024
Operating result€0.6m-€0.7m-€0.3m▼ 61.7%€0.05m▼ 81.9%-€0.006m-
Net result€0.4m-€0.3mabove the sector's middle half-€0.1mwithin the sector's middle half▼ 67.8%€0.01mwithin the sector's middle half▼ 89.3%€0.007mwithin the sector's middle half-
Equity€3.6m-€4.2mabove the sector's middle half-€4.3mabove the sector's middle half▲ 2.7%€4.4mabove the sector's middle half▲ 0.3%€4.4mabove the sector's middle half-
Total assets€4.7m-€5.4mabove the sector's middle half-€5.4mabove the sector's middle half▲ 0.5%€5.1mabove the sector's middle half▼ 5.1%€4.9mabove the sector's middle half-
Debt€1.0m-€1.1m-€1.1m▼ 7.6%€0.8m▼ 27.3%€0.5m-
Working capital€2.1m-€1.3mabove the sector's middle half-€1.1mabove the sector's middle half▼ 13.7%€0.2mwithin the sector's middle half▼ 82.0%€0.4mwithin the sector's middle half-
Solvency76.5%-78.7%above the sector's middle half-80.4%above the sector's middle half▲ 1.7pp85.0%above the sector's middle half▲ 4.6pp89.7%above the sector's middle half-
Current ratio3.10-2.16within the sector's middle half-2.09within the sector's middle half▼ 0.071.27within the sector's middle half▼ 0.821.83within the sector's middle half-
Return on assets (ROA)7.7%-6.5%within the sector's middle half-2.1%within the sector's middle half▼ 4.4pp0.2%within the sector's middle half▼ 1.8pp0.1%within the sector's middle half-
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half-
above within below The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2022 as the grey bar beneath
Assets €4.9m
Fixed assets €4.0m ▼ 4.3%
Current assets €859,105 ▼ 8.6%
Equity and liabilities €4.9m
Equity €4.4m ▲ 0.2%
Debt €499,670 ▼ 35.0%
Debt's share of the balance-sheet total falls from 15.0% to 10.3%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2022
EBITDA
€331,716▲
2022 · €240,275
Cash flow
€345,245▲
2022 · €206,090
Debt to equity
0.11▼
2022 · 0.18
ROE
0.2%▼
2022 · 0.3%
Interest coverage
48.17▲
2022 · 9.04
Debt ≤ 1 year
€470,304▼
2022 · €738,847
Income taxes
€0▼
2022 · €14,730
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item201820202021202230-06-2024
Tangible fixed assets€281,356€837,917€527,522€1.1m€201,645
Depreciation and write-downs of the year€60,564€187,994€237,189€194,095€338,092

Source: notes to the 2018 to 2024 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as FSA: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €2.4m and €4.4m, founded between 1991 and 2003.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
FSA Watermaal-Bosvoorde1998€4.9m€4.4m€0.4m€0.007m02024
GS NIVELLES Nivelles1998€3.9m€1.9m€0.6m€0.3m0.22025
DE BACKER FinCo Oudenaarde2003€4.4m€3.7m€0.4m€0.4m02025
V & V HOLDING COMPANY Sint-Lambrechts-Woluwe1991€3.7m€1.9m€0.3m€0.07m02025
ClarityAdvisory Lanaken1997€2.4m€0.7m€0.3m€0.1m02026
MnM Zwevegem2001€2.7m€1.0m€0.3m€0.1m0.52025
RONVAUX ET CO Namur1994€2.5m€1.6m€0.3m€0.2m02025

They were chosen from the 1,743 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2022 · 51 lines

Source: Annual accounts 2024 (PDF), filed on 15-07-2025.

Balance sheet Code20222024
Assets
Total assets20/58€5.1m€4.9m▼
Fixed assets21/28€4.2m€4.0m▼
Tangible fixed assets22/27€4.2m€4.0m▼
Land and buildings22€4.1m€4.0m▼
Plant, machinery and equipment23€0.001m€0.004m▲
Furniture and vehicles24€0.07m€0.01m▼
Current assets29/58€0.9m€0.9m▼
Amounts receivable within one year40/41€0.6m€0.7m▲
Trade receivables40€0.3m€0.4m▲
Other amounts receivable41€0.4m€0.4m▼
Current investments50/53€117€117=
Cash at bank and in hand54/58€0.3m€0.1m▼
Deferred charges and accrued income490/1€0.002m€0.001m▼
Equity and liabilities
Total equity and liabilities10/49€5.1m€4.9m▼
Equity10/15€4.4m€4.4m▲
Contributions10/11€1.7m€1.7m=
Reserves13€1.7m€1.7m=
Non-distributable reserves130/1€0.05m€0.05m=
Reserves not available under the articles1311€0.05m€0.05m=
Tax-exempt reserves132€0.2m€0.2m=
Distributable reserves133€1.4m€1.4m=
Profit (loss) carried forward14€1.0m€1.0m▲
Amounts payable17/49€0.8m€0.5m▼
Amounts payable within one year42/48€0.7m€0.5m▼
Current portion of amounts payable after more than one year42-€0.09m
Trade debts44€0.3m€0.1m▼
Suppliers440/4€0.3m€0.1m▼
Taxes, remuneration and social security45€0.5m€0.3m▼
Taxes450/3€0.5m€0.3m▼
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€0.03m€0.03m=
Income statement Code20222024
Non-recurring operating income76A€0.04m€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.3m▲
Provisions for liabilities and charges: additions (uses and reversals)635/8--€0.002m
Other operating charges640/8€0.03m€0.04m▲
Non-recurring operating charges66A€0-
Gross operating margin9900€0.3m€0.4m▲
Operating profit (loss)9901€0.05m-€0.006m▼
Financial income75/76B€0.007m€0.02m▲
Recurring financial income75€0.007m€0.02m▲
Financial charges65/66B€0.03m€0.007m▼
Recurring financial charges65€0.03m€0.007m▼
Profit (loss) for the period before taxes9903€0.03m€0.007m▼
Income taxes67/77€0.01m€0▼
Profit (loss) for the period9904€0.01m€0.007m▼
Profit (loss) for the period to be appropriated9905€0.01m€0.007m▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.0m€1.0m▲
Profit (loss) brought forward from the previous period14P€1.0m€1.0m▲
Transfer to equity691/2€0-
To other reserves6921€0-
Social balance sheet
Average headcount (FTE)90870.00.0=

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line20182020202120222024Change
Non-recurring operating income76A---€43,988€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€60,564€187,994€237,189€194,095€338,092-
Provisions for liabilities and charges: additions (uses and reversals)635/8€20,006€0---€1,536-
Other operating charges640/8€18,574€14,169€9,342€33,630€42,449-
Non-recurring operating charges66A-€5,265€1,509€0--
Gross operating margin9900€699,900€873,470€503,182€273,906€372,629-
Operating profit (loss)9901€600,756€666,041€255,142€46,180-€6,376-
Financial income75/76B-€4,450€7,925€7,119€20,415-
Recurring financial income75€15,517€4,450€7,925€7,119€20,415-
Non-recurring financial income76B€0-----
Financial charges65/66B-€6,545€8,739€26,576€6,887-
Recurring financial charges65€110,166€6,545€8,739€26,576€6,887-
Profit (loss) for the period before taxes9903€506,107€663,946€254,328€26,724€7,153-
Income taxes67/77€142,738€314,611€141,789€14,730€0-
Profit (loss) for the period9904€363,369€349,335€112,540€11,994€7,153-
Transfer to tax-exempt reserves689€0-----
Profit (loss) for the period to be appropriated9905€363,369€349,335€112,540€11,994€7,153-
Line20182020202120222024Change
Assets
Total assets20/58€4.7m€5.4m€5.4m€5.1m€4.9m-
Fixed assets21/28€1.7m€3.0m€3.3m€4.2m€4.0m-
Tangible fixed assets22/27€1.7m€3.0m€3.3m€4.2m€4.0m-
Land and buildings22€1.7m€2.9m€3.2m€4.1m€4.0m-
Plant, machinery and equipment23-€0.001m€0.001m€0.001m€0.004m-
Furniture and vehicles24€0.002m€0.05m€0.04m€0.07m€0.01m-
Current assets29/58€3.1m€2.4m€2.1m€0.9m€0.9m-
Amounts receivable within one year40/41€1.4m€1.0m€0.4m€0.6m€0.7m-
Trade receivables40€0.9m€0.9m€0.2m€0.3m€0.4m-
Other amounts receivable41€0.6m€0.09m€0.1m€0.4m€0.4m-
Current investments50/53€117€0.1m€117€117€117-
Cash at bank and in hand54/58€1.6m€1.3m€1.8m€0.3m€0.1m-
Deferred charges and accrued income490/1€0.004m€0.002m€0.002m€0.002m€0.001m-
Equity and liabilities
Total equity and liabilities10/49€4.7m€5.4m€5.4m€5.1m€4.9m-
Equity10/15€3.6m€4.2m€4.3m€4.4m€4.4m-
Contributions10/11€1.7m€1.7m€1.7m€1.7m€1.7m-
Capital10€1.7m-----
Issued capital100€1.7m-----
Reserves13€1.6m€1.6m€1.7m€1.7m€1.7m-
Non-distributable reserves130/1-€0.05m€0.05m€0.05m€0.05m-
Legal reserve130€0.05m-----
Reserves not available under the articles1311-€0.05m€0.05m€0.05m€0.05m-
Tax-exempt reserves132€0.2m€0.2m€0.2m€0.2m€0.2m-
Distributable reserves133€1.3m€1.3m€1.4m€1.4m€1.4m-
Profit (loss) carried forward14€0.4m€1.0m€1.0m€1.0m€1.0m-
Provisions and deferred taxes16€0.09m-----
Provisions for liabilities and charges160/5€0.09m-----
Other liabilities and charges164/5€0.09m-----
Amounts payable17/49€1.0m€1.1m€1.1m€0.8m€0.5m-
Amounts payable within one year42/48€1.0m€1.1m€1.0m€0.7m€0.5m-
Current portion of amounts payable after more than one year42----€0.09m-
Financial debts43€0.2m€0----
Credit institutions430/8€0.2m€0----
Trade debts44€0.1m€0.2m€0.2m€0.3m€0.1m-
Suppliers440/4€0.1m€0.2m€0.2m€0.3m€0.1m-
Taxes, remuneration and social security45€0.04m€0.4m€0.7m€0.5m€0.3m-
Taxes450/3€0.04m€0.4m€0.7m€0.5m€0.3m-
Other amounts payable47/48€0.7m€0.5m€0.09m€0--
Accrued charges and deferred income492/3€0.03m€0.03m€0.03m€0.03m€0.03m-
Line20182020202120222024Change
Profit (loss) for the period9904€0.4m€0.3m€0.1m€0.01m€0.007m-
+ Depreciation and write-downs630€0.06m€0.2m€0.2m€0.2m€0.3m-
Operating cash flow (approximation)€0.4m€0.5m€0.3m€0.2m€0.3m-
Investment in fixed assets (approximation)---€0.5m-€1.1m--
Change in cash--€0.5m-€1.5m--

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 25 filings with the National Bank
Financial year Type Filed Reference Document
30-06-2024 full format 15-07-2025 2025-00275171 PDF
31-12-2022 full format 18-02-2025 2025-00035870 PDF
31-12-2021 full format 03-08-2023 2023-00312645 PDF
31-12-2020 full format 01-07-2022 2022-20117272 PDF
31-12-2019 full format 04-03-2022 2022-07100008 PDF
31-12-2018 full format 17-08-2021 2021-49400583 PDF
31-12-2017 full format 30-12-2018 2018-76100588 PDF
31-12-2016 full format 25-07-2017 2017-36700406 PDF
31-12-2015 full format 31-08-2016 2016-56100156 PDF
31-12-2014 full format 29-09-2015 2015-61000411 PDF

Show all 25 filings

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