FVC
ActiveSummary
FVC has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €379k and a net result of €4k. Equity is growing by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 57% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▼-2
Solvency65▼-9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 5.95 in 2024; short-term debt: 7.7% and cash: 9.5% of total assets), and 60.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
39.7%
Return on assets
0.5%
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
4 d late
2023
90 d late
2022
61 d late
2021
1 d late
2020
19 d late
2019
80 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€379k▲ 1.2%
2024 · €375k
2018: €194klowest in 8 years
2019: €278k▲ +43.2% vs 2018
2020: €278k● 0.0% vs 2019
2021: €415k▲ +49.5% vs 2020highest in 8 years
2022: €388k▼ -6.7% vs 2021
2023: €377k▼ -2.7% vs 2022
2024: €375k▼ -0.6% vs 2023
2025: €379k▲ +1.2% vs 2024
2018 → 2025
Total assets
€956k▲ 26.2%
2024 · €758k
2018: €236klowest in 8 years
2019: €334k▲ +41.7% vs 2018
2020: €348k▲ +4.0% vs 2019
2021: €847k▲ +144% vs 2020
2022: €815k▼ -3.9% vs 2021
2023: €790k▼ -3.1% vs 2022
2024: €758k▼ -4.0% vs 2023
2025: €956k▲ +26.2% vs 2024highest in 8 years
2018 → 2025
Net result
€4k
2024 · €-2k
2018: €11k
2019: €84k▲ +696% vs 2018
2020: €84k● 0.0% vs 2019
2021: €150k▲ +78.9% vs 2020highest in 8 years
2022: €-28k▼ -118% vs 2021lowest in 8 years
2023: €-10k▲ +62.7% vs 2022
2024: €-2k▲ +77.1% vs 2023
2025: €4k▲ +285% vs 2024
2018 → 2025
Working capital
€17k▼ 82.1%
2024 · €97k
2018: €101k
2019: €253k▲ +152% vs 2018highest in 8 years
2020: €226k▼ -10.7% vs 2019
2021: €116k▼ -48.6% vs 2020
2022: €90k▼ -22.4% vs 2021
2023: €111k▲ +23.1% vs 2022
2024: €97k▼ -13.1% vs 2023
2025: €17k▼ -82.1% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€415k-€388k▼ 6.7%€377k▼ 2.7%€375k▼ 0.6%€379k▲ 1.2%
2021: €415khighest in 5 years
2022: €388k▼ -6.7% vs 2021
2023: €377k▼ -2.7% vs 2022
2024: €375k▼ -0.6% vs 2023lowest in 5 years
2025: €379k▲ +1.2% vs 2024
Operating result€199k-€-26k€-13k▲ 50.1%€277€13k▲ 4,513%
2021: €199khighest in 5 years
2022: €-26k▼ -113% vs 2021lowest in 5 years
2023: €-13k▲ +50.1% vs 2022
2024: €277▲ +102% vs 2023
2025: €13k▲ +4513% vs 2024
Net result€150k-€-28k€-10k▲ 62.7%€-2k▲ 77.1%€4k
2021: €150khighest in 5 years
2022: €-28k▼ -118% vs 2021lowest in 5 years
2023: €-10k▲ +62.7% vs 2022
2024: €-2k▲ +77.1% vs 2023
2025: €4k▲ +285% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 4,513% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €956k
Fixed assets
€865k ▲ 34.9%
Current assets
€90k ▼ 22.1%
Equity and liabilities €956k
Equity
€379k ▲ 1.2%
Provisions
€76k ▼ 3.6%
Debt
€501k ▲ 64.7%
Debt's share of the balance-sheet total rises from 40.1% to 52.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€40k▲
2024 · €22k
Cash flow
€31k▲
2024 · €19k
Current ratio
1.24▼
2024 · 5.95
Debt to equity
1.32▲
2024 · 0.81
ROE
1.2%▲
2024 · -0.6%
ROA
0.5%▲
2024 · -0.3%
Interest coverage
3.54▼
2024 · 3.97
Debt ≤ 1 year
€73k▲
2024 · €20k
Debt > 1 year
€427k▲
2024 · €285k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€758k€956k▲
Fixed assets21/28€642k€865k▲
Intangible fixed assets21€96k€96k=
Tangible fixed assets22/27€546k€770k▲
Land and buildings22€458k€687k▲
Plant, machinery and equipment23€88k€82k▼
Current assets29/58€116k€90k▼
Cash at bank and in hand54/58€116k€90k▼
Equity and liabilities
Total equity and liabilities10/49€758k€956k▲
Equity10/15€375k€379k▲
Contributions10/11€8k€8k=
Capital10€8k-
Issued capital100€19k-
Uncalled capital101€11k-
Outside capital11-€8k
Share premium1100/10-€8k
Reserves13€242k€234k▼
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k-
Reserves not available under the articles1311-€2k
Tax-exempt reserves132€240k€232k▼
Profit (loss) carried forward14€125k€138k▲
Provisions and deferred taxes16€79k€76k▼
Deferred taxes168€79k€76k▼
Amounts payable17/49€304k€501k▲
Amounts payable after more than one year17€285k€427k▲
Financial debts170/4€285k€427k▲
Amounts payable within one year42/48€20k€73k▲
Current portion of amounts payable after more than one year42€15k€25k▲
Other amounts payable47/48€4k€48k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€27k▲
Other operating charges640/8€2k€144▼
Gross operating margin9900€24k€40k▲
Operating profit (loss)9901€277€13k▲
Financial charges65/66B€5k€11k▲
Recurring financial charges65€5k€11k▲
Profit (loss) for the period before taxes9903€-5k€2k▲
Transfer from deferred taxes780€3k€3k=
Profit (loss) for the period9904€-2k€4k▲
Transfer from tax-exempt reserves789€8k€8k=
Profit (loss) for the period to be appropriated9905€6k€13k▲
Appropriation of the result
Profit (loss) to be appropriated9906€125k€138k▲
Profit (loss) brought forward from the previous period14P€119k€125k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €233k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €34k | €34k | €21k | €27k | ▲ 25.5% |
| Other operating charges640/8 | - | €571 | €3k | €2k | €144 | ▼ 93.4% |
| Gross operating margin9900 | €209k | €8k | €24k | €24k | €40k | ▲ 66.7% |
| Operating profit (loss)9901 | €199k | €-26k | €-13k | €277 | €13k | ▲ 4,513% |
| Financial income75/76B | €71 | - | - | - | - | - |
| Recurring financial income75 | €71 | - | - | - | - | - |
| Financial charges65/66B | €379 | €4k | - | €5k | €11k | ▲ 105% |
| Recurring financial charges65 | €379 | €4k | - | €5k | €11k | ▲ 105% |
| Profit (loss) for the period before taxes9903 | €199k | €-30k | €-13k | €-5k | €2k | ▲ 130% |
| Transfer from deferred taxes780 | €3k | €3k | €3k | €3k | €3k | = |
| Transfer to deferred taxes680 | €52k | - | - | - | - | - |
| Profit (loss) for the period9904 | €150k | €-28k | €-10k | €-2k | €4k | ▲ 285% |
| Transfer from tax-exempt reserves789 | €8k | €8k | €8k | €8k | €8k | = |
| Transfer to tax-exempt reserves689 | €181k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-23k | €-19k | €-2k | €6k | €13k | ▲ 110% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €847k | €815k | €790k | €758k | €956k | ▲ 26.2% |
| Fixed assets21/28 | €731k | €697k | €663k | €642k | €865k | ▲ 34.9% |
| Intangible fixed assets21 | €121k | €108k | €96k | €96k | €96k | = |
| Tangible fixed assets22/27 | €610k | €589k | €567k | €546k | €770k | ▲ 41.0% |
| Land and buildings22 | €507k | €490k | €474k | €458k | €687k | ▲ 50.0% |
| Plant, machinery and equipment23 | €104k | €98k | €93k | €88k | €82k | ▼ 6.0% |
| Current assets29/58 | €116k | €118k | €127k | €116k | €90k | ▼ 22.1% |
| Amounts receivable within one year40/41 | €1k | €11k | €11k | - | - | - |
| Trade receivables40 | - | €9k | €9k | - | - | - |
| Other amounts receivable41 | €1k | €3k | €3k | - | - | - |
| Cash at bank and in hand54/58 | €115k | €106k | €115k | €116k | €90k | ▼ 22.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €847k | €815k | €790k | €758k | €956k | ▲ 26.2% |
| Equity10/15 | €415k | €388k | €377k | €375k | €379k | ▲ 1.2% |
| Contributions10/11 | €8k | €8k | €8k | €8k | €8k | = |
| Capital10 | €8k | €8k | €8k | €8k | - | - |
| Issued capital100 | €19k | €19k | €19k | €19k | - | - |
| Uncalled capital101 | €11k | €11k | €11k | €11k | - | - |
| Outside capital11 | - | - | - | - | €8k | - |
| Share premium1100/10 | - | - | - | - | €8k | - |
| Reserves13 | €268k | €259k | €251k | €242k | €234k | ▼ 3.5% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | €2k | €2k | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €2k | - |
| Tax-exempt reserves132 | €266k | €257k | €249k | €240k | €232k | ▼ 3.5% |
| Profit (loss) carried forward14 | €140k | €120k | €119k | €125k | €138k | ▲ 10.3% |
| Provisions and deferred taxes16 | €87k | €84k | €82k | €79k | €76k | ▼ 3.6% |
| Deferred taxes168 | €87k | €84k | €82k | €79k | €76k | ▼ 3.6% |
| Amounts payable17/49 | €345k | €343k | €331k | €304k | €501k | ▲ 64.7% |
| Amounts payable after more than one year17 | €345k | €315k | €315k | €285k | €427k | ▲ 50.2% |
| Financial debts170/4 | €345k | €315k | €315k | €285k | €427k | ▲ 50.2% |
| Amounts payable within one year42/48 | €26 | €27k | €15k | €20k | €73k | ▲ 275% |
| Current portion of amounts payable after more than one year42 | - | €15k | - | €15k | €25k | ▲ 60.2% |
| Trade debts44 | €26 | €847 | €847 | - | - | - |
| Suppliers440/4 | €26 | €847 | €847 | - | - | - |
| Taxes, remuneration and social security45 | - | €1k | €1k | - | - | - |
| Taxes450/3 | - | €1k | €1k | - | - | - |
| Other amounts payable47/48 | - | €10k | €13k | €4k | €48k | ▲ 1,096% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €150k | €-28k | €-10k | €-2k | €4k | ▲ 285% |
| + Depreciation and write-downs630 | €10k | €34k | €34k | €21k | €27k | ▲ 25.5% |
| Operating cash flow (approximation) | €160k | €7k | €24k | €19k | €31k | ▲ 64.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-251k | - |
| Change in cash | - | €-9k | €9k | €940 | €-26k | ▼ 2,828% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €4k
Net result €4k after 3 loss-making years.
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 90 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2021
31-12
Financial
Highest result since 2018net €150k ▲78.9%
Operating result €199k, net result €150k, both a record.
31-12
Financial
Liquidity times 729current ratio 4473.94
Current ratio from 6.14 to 4473.94; short-term debt falls from €44k to €26.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
2020
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 80 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 15.88
Current ratio from 4.97 to 15.88; short-term debt falls from €25k to €17k.
Show earlier events
31-12
Financial
Equity above €200kEq €278k ▲43.2%
2 profitable years in a row build equity to €278k.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Sint-Niklaas · 1 establishment unit since 2002
Ground area
2,787 m²
Building footprint
886 m²
Volume, LiDAR
5,670 m³
2 parcels, Flanders · tallest building 15.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Margrietstraat(MD) 113, 9170 Sint-Gillis-Waas
since 20022.131.497.695
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46021A0300/00M000 | Flanders | 1,810 m² | 1 · 693 m² | 15.7 m · 1 fl. |
| 46015B0420/00G000 | Flanders | 977 m² | 1 · 193 m² | 9.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ABVg
BE 0818.042.669
Antwerpen · Eq €379,091
HOLDING JL JAMOULLE
BE 0835.819.405
Crisnée · Eq €378,941
DE MINUUT
BE 0462.097.310
Blankenberge · Eq €378,776
Trade East
BE 0479.019.058
Gent · Eq €379,841
J.B. VAN LINTHOUT ET FILS
BE 0402.669.566
Ukkel · Eq €378,383
Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 5,038 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
Founded26-02-2002
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.