Equity
-€20,698
Debts exceed assets in financial year 2025.
FSG
Lifetime
8 annual accounts with figures on one time axispeak €87,778 (2019)
€51,386▲ 12.6%
lowest -€57,673 (2023)
€1,441▲ €26,073
peak €57,066 (2022)
-€20,698▲ €1,441
€52,541▼ 11.9%
peak 1 FTE (2019)
-not published
Board2 names since 2018
1 director
Documentsfilings and deeds
22-09-202653 days late
2025micro format
Gross margin from €45,633 to €51,386Back to profit: €1,441Cash from €31,539 to €14,561
Key points
from the 2025 annual accountsDebts
€52,541 165% of the balance sheet
Suppliers 60%Taxes and wages 40%
Staff
5 employees on 31-12-2025
In 2025, 9 people joined and 8 left.
Filings
8 annual accounts 5 late
The 2020 accounts came latest: 58 days after the end of the period.
Board
1 joined · 1 left
Board changed. Latest change 01-01-2026 · 1 in office.
Position in the sector
-65.0%
Lower solvency than 87% of companies in food and beverage service. Sector median 29.6% · 18,532 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 907 companies had the same profile as FSG has now. Each dot stands for 3 companies, two years later.
89.3%
were still trading
4.2%
stopped another way
6.1%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 907 companies, not a prediction for FSG. 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.
Credit verdict
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Signals
Recent changes
New sole director
appointed, resigned · Transfer of shares from to · holds all the shares · General meeting of 30-01-2023 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0693949678
Amendment of the articles · Legal-form change · Resignations & appointments
Reappointment: (director) · A shareholder holds all the shares · General meeting of 26-12-2023 · Gazette deed
Incorporation
Founding capital of €18,600, 100 shares, €12,400 paid up · Founder: · Appointment: (manager) · published on 09-04-2018 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FSG Liège | €31,843 | €51,386 | -65.0% | - |
| YOLO Liège | €31,869 | €54,895 | 20.6% | - |
| M&S Molenbeek-Saint-Jean | €31,222 | €47,199 | 86.5% | - |
| LES CARRIOLES Durbuy | €32,796 | €44,018 | 52.7% | - |
| JALOU Company Schaerbeek | €33,079 | €41,960 | 72.7% | - |
| ALALIZA Liège | €39,523 | €40,817 | -46.1% | - |
| PÉPOUZ CAFÉ Liège | €29,510 | €81,383 | -171.2% | - |
These companies have the same main activity as FSG: cafés and bars (NACE 56301). They are comparable in size and age: total assets between €29,500 and €39,500, founded between 2017 and 2019.
Official details
Source: KBO- Status
- Active since 05-04-2018Normal situation
- Activity
- Cafés and barsNACE 56301
- Joint committee
- 302Hotels and catering · annual accounts 2025
- Establishment unit
- 2.274.581.0114020 Liège, since 05-04-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 15-12-2025
Annual accounts 2025
- ≈ €180,000estimated
- €31,843▼ 15.0%
- Employeeson 31-12-2025
- 5▲ 25.0%
- Filing
- Filed on 22-09-2026
Insights on FSG
FSG files the micro format. That format states no turnover. The gross margin rose from €42,448 in 2018 to €51,386 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FSG
- What is the company number of FSG?
- The company number of FSG is 0693.949.678. The VAT number is the same number with BE in front: BE 0693.949.678.
- Where is FSG based?
- The registered office is at Rue du Pont-de-Wandre 234, 4020 Liège.Company details
- What does FSG do?
- According to the KBO register, the main activity is cafés and bars (NACE 56301).
- What is the legal form of FSG?
- FSG is a private limited company (BV).
- When was FSG founded?
- FSG was founded on 05-04-2018.
- Is FSG still active?
- Yes, FSG is an active enterprise in the KBO register.
- How many employees does FSG have?
- FSG had an average of 3.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does FSG fall under?
- In its 2025 annual accounts, FSG states joint committee 302 (Hotels and catering).
- What is the turnover of FSG?
- The turnover in financial year 2025 is ≈ €180,000. This figure is estimated from the gross margin of €51,386 and 36 comparable companies (NACE 56301). It probably lies between €150,000 and €240,000. In financial year 2020 turnover was €212,451.
- Is FSG profitable?
- In financial year 2025, FSG made a profit of €1,441.
- Where can I find the annual accounts of FSG?
- FSG filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FSG due?
- FSG must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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