Active BE 0461.345.460Private limited company

F.K.G.

Doornikserijksweg(Bel) 90 ·8510 Kortrijk, Belgium· 29 yrs active

Sector: Agents in the wholesale of furniture, household goods and hardware (46150)

Conclusion Checked

F.K.G. has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-50k) and a net result of €-5k. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 10% of 10877 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Based on the State Gazette, CBE and 7 annual accounts.

Key figures

Equity	€-50k
Net result	€-5k
Better than sector	10%
Active	29 yrs

Financial profile 5 of 5 axes measured · computed by Checked

69 / 100

Strong profile, led by stability.

All 5 axes are computed from data Checked has read.

Health 48

Profitability 50

Solvency 67

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.8% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1997, 29 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

48 / 100 Fair

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

No credit

negative equity or figures too weak

Score history

20 2019

33 2020

58 2021

38 2022

40 2023

47 2024

48 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 6.90 (≥ 1.5) +10

Quick ratio Quick ratio 6.31 (≥ 1.0) +5

Equity Negative equity -25

Profitability ROE 10% +3

Profit trend Net profit up YoY +5

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview27 NBB filings

Annual accounts filed on 30-01-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~7.4%/year over 7 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-62.6%	42.6%	better than 10% of 10877 sector peers
Net result	€-5k	€6k	better than 24% of 10889 sector peers
Equity	€-50k	€60k	better than 8% of 10908 sector peers
Gross operating margin	€-1k	€29k	better than 17% of 10866 sector peers
Total assets	€80k	€175k	better than 29% of 10887 sector peers

Net profit

€-5k

+10.9% 19-25

Total assets

€80k

+3.9% 19-25

Equity

€-50k

-11.1% 19-25

Working capital

€10k

+130.3% 19-25

Debt

€130k

+6.6% 19-25

Debt ≤ 1y

€2k

-60.6% 19-25

Debt > 1y

€126k

+9.2% 19-25

Current ratio

6.90

+243.2% 19-25

Quick ratio

6.31

+261.6% 19-25

Solvency

-62.6%

-6.9% 19-25

Debt / equity

-2.60

+4.1% 19-25

ROE

10.0%

-19.8% 19-25

ROA

-6.3%

+14.2% 19-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-	-
EBITDA	-	-	-	-	-
Net profit	€-5k	€-6k	€-2k	€14k	€-70k
Cash flow	-	-	-	-	-
Staff costs	-	-	-	-	-
Income taxes	-	-	-	-	-
Dividends	-	-	-	-	-
Total assets	€80k	€77k	€76k	€89k	€86k
Equity	€-50k	€-45k	€-39k	€-38k	€-52k
Debt	€130k	€122k	€115k	€127k	€137k
of which ≤ 1y	€2k	€4k	€3k	€7k	€8k
of which > 1y	€126k	€116k	€112k	€120k	€129k
Working capital	€10k	€4k	€5k	€15k	€9k
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	6.90	2.01	2.68	3.17	2.10
Quick ratio	6.31	1.74	2.30	2.97	1.99
Working capital ratio	12.4%	5.6%	6.5%	16.3%	10.8%
Solvency	-62.6%	-58.6%	-51.7%	-42.1%	-60.1%
Debt / equity	-2.60	-2.71	-2.93	-3.38	-2.50
Long-term debt ratio	-2.53	-2.58	-2.86	-3.20	-2.50
Interest coverage	-	-	-	-	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	-6.3%	-7.3%	-2.2%	15.6%	-81.8%
ROE	10.0%	12.4%	4.3%	-36.9%	136.0%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €68k · 85.5% Current assets €12k · 14.5%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€80k	€77k	€76k	€89k	€86k
Fixed assets	21/28	€68k	€68k	€68k	€68k	€68k
Tangible fixed assets	22/27	€68k	€68k	€68k	€68k	€68k
Current assets	29/58	€12k	€9k	€8k	€21k	€18k
Stocks & contracts in progress	3	€993	€1k	€1k	€1k	€998
Amounts receivable within one year	40/41	€7k	€5k	€5k	€17k	€6k
Cash & bank	54/58	€3k	€2k	€2k	€3k	€11k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€80k	€77k	€76k	€89k	€86k
Equity	10/15	€-50k	€-45k	€-39k	€-38k	€-52k
Contributions / capital	10/11	€19k	€19k	€19k	€19k	-
Accumulated profits (losses)	14	€-68k	€-63k	€-58k	€-56k	€-70k
Amounts payable	17/49	€130k	€122k	€115k	€127k	€137k
Amounts payable after one year	17	€126k	€116k	€112k	€120k	€129k
Amounts payable within one year	42/48	€2k	€4k	€3k	€7k	€8k
Trade debts payable within one year	44	€495	€4k	€3k	€2k	€2k
Income statement
Gross operating margin	9900	€-1k	€-3k	€201	€16k	€12k
Operating result	9901	€-3k	€-4k	€154	€16k	€11k
Financial income	75	€274	€218	€171	€2	-
Financial charges	65	€2k	€2k	€2k	€2k	€3k
Result before taxes	9903	€-5k	€-6k	€-2k	€14k	€8k
Net result for the period	9904	€-5k	€-6k	€-2k	€14k	€8k
Result to be appropriated	9905	€-5k	€-6k	€-2k	€14k	€8k

Directors & mandates 2 directors

Current directors & mandates

Kathy SAMAIN
Statutair
State Gazette act 24441149 (04-11-2024)

Current
04-11-2024 → present

Former directors (1)

Frank VANDENBULCKE
Statutair
State Gazette act 24441149 (04-11-2024)

Former
- → 04-11-2024

Legal Structure

NACE primary	Agents in the wholesale of furniture, household goods and hardware(46150)
Legal form	Private limited company(610)
Incorporation	28-08-1997
Status	Active
Postal code	8510

Establishment units 1 location

Doornikserijksweg(Koo) 90, 8510 Kortrijk

NACE 51880

since 19982.085.458.230

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
34005B0104/00W000	Flanders	1,507 m²	1 · 220 m²	14.4 m · 3 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 14Financial 3Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

30-01

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

30-06

Financial Liquidity triplescurrent ratio 6.90

Current ratio from 2.01 to 6.90; short-term debt falls from €4k to €2k.

31-01

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

04-11

State Gazette act Director changes

Elien Turpyn

19-02

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 19 days late

2023

06-02

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 6 days late

2022

30-06

Financial Back to profitnet €14k

Net result €14k after 3 loss-making years.

18-01

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-06

Financial Liquidity doublescurrent ratio 2.10

Current ratio from 0.98 to 2.10; short-term debt falls from €30k to €8k.

02-02

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 2 days late

2020

30-01

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

14-01

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

03-01

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

31-01

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 1 year ago

2024

04-11-2024 1 director appointed, 1 resigning, 2 reappointed Director changes·Elien Turpyn

Kathy SAMAIN, Statutair
Frank VANDENBULCKE, Statutair
Frank VANDENBULCKE, Statutair
Kathy SAMAIN, Opvolgend bestuurder

Notary: Elien Turpyn · Zwevegem

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Agents in the wholesale of furniture, household goods and hardware46150Wholesale trade46497

Names & trade names

Legal nameNL

F.K.G.

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