FBM Connect
ActiveFBM Connect has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19k and a net result of €-16k. Equity is growing by ~39.9% per year across the filed fiscal years. Its solvency ranks better than 33% of 27450 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
48
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability26▼-64
Solvency56▼-23
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.91 against 1.92 in 2024; short-term debt: 41.7% and cash: 8.1% of total assets), and 68.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
31.5%
Return on assets
-26.7%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-09-2026, 42 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
42 d late
2024
17 d early
2023
19 d early
2022
17 d late
2021
16 d late
2020
9 d late
2019
48 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€19k▼ 45.9%
2024 · €35k
2019: €7k
2020: €2k
2021: €7k
2022: €24k
2023: €24k
2024: €35k
2019 → 2025
Total assets
€60k▼ 7.7%
2024 · €65k
2019: €9k
2020: €6k
2021: €13k
2022: €67k
2023: €81k
2024: €65k
2019 → 2025
Net result
€-16k
2024 · €11k
2019: €355
2020: €-5k
2021: €5k
2022: €17k
2023: €-200
2024: €11k
2019 → 2025
Working capital
€-2k
2024 · €23k
2019: €5k
2020: €1k
2021: €7k
2022: €11k
2023: €10k
2024: €23k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€7k-€24k▲ 244%€24k▼ 0.8%€35k▲ 46.5%€19k▼ 45.9%
Operating result€5k-€24k▲ 328%€3k▼ 88.3%€17k▲ 519%€-14k
Net result€5k-€17k▲ 222%€-200€11k€-16k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €14k after €17k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €60k
Fixed assets
€38k▲ 114%
Current assets
€23k▼ 52.3%
Equity and liabilities €60k
Equity
€19k▼ 45.9%
Debt
€41k▲ 36.6%
The debt ratio rises from 46.3% to 68.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€6k▼
2024 · €29k
Cash flow
€3k▼
2024 · €24k
Solvency
31.5%▼
2024 · 53.7%
Current ratio
0.91▼
2024 · 1.92
Quick ratio
0.91▼
2024 · 1.92
Debt / equity
2.18▲
2024 · 0.86
ROE
-84.9%▼
2024 · 31.8%
ROA
-26.7%▼
2024 · 17.0%
Interest coverage
3.17▼
2024 · 27.38
Debt
€41k▲
2024 · €30k
Debt ≤ 1 year
€25k▲
2024 · €25k
Debt > 1 year
€16k▲
2024 · €5k
Income taxes
€415▼
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€65k€60k▼
Fixed assets21/28€18k€38k▲
Tangible fixed assets22/27€18k€38k▲
Plant, machinery and equipment23€2k€9k▲
Furniture and vehicles24-€24k
Leasing and similar rights25€16k€5k▼
Current assets29/58€48k€23k▼
Amounts receivable within one year40/41€10k€15k▲
Trade receivables40€5k€10k▲
Other amounts receivable41€4k€4k▼
Cash at bank and in hand54/58€37k€5k▼
Deferred charges and accrued income490/1€1k€3k▲
Equity and liabilities
Total equity and liabilities10/49€65k€60k▼
Equity10/15€35k€19k▼
Contributions10/11€6k€6k=
Reserves13€355€355=
Distributable reserves133€355€355=
Profit (loss) carried forward14€29k€12k▼
Amounts payable17/49€30k€41k▲
Amounts payable after more than one year17€5k€16k▲
Financial debts170/4€5k€16k▲
Amounts payable within one year42/48€25k€25k▲
Current portion of amounts payable after more than one year42€10k€13k▲
Trade debts44€10k€6k▼
Suppliers440/4€10k€6k▼
Taxes, remuneration and social security45€5k€6k▲
Taxes450/3€5k€6k▲
Remuneration and social security454/9€94€94=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€20k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€32k€8k▼
Operating profit (loss)9901€17k€-14k▼
Financial income75/76B€1-
Recurring financial income75€1-
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€16k€-16k▼
Income taxes67/77€5k€415▼
Profit (loss) for the period9904€11k€-16k▼
Profit (loss) for the period to be appropriated9905€11k€-16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€29k€12k▼
Profit (loss) brought forward from the previous period14P€17k€29k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 42 days late
2025
31-12
Financial
Weakest financial yearnet €-16k ▼245%
Net result drops to €-16k, the lowest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
31-12
Financial
Highest result since 2019net €17k ▲222%
Operating result €24k, net result €17k, both a record.
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
2021
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
2020
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 48 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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 2018
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Verzusteringslaan 129100 Sint-NiklaasGround area
278 m²
Building footprint
84 m²
Volume, LiDAR
873 m³
Parcel 46444D0675/00A002, Flanders · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
FBM Connect
since 20182.279.676.281
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46444D0675/00A002 | Flanders | 278 m² | 1 · 84 m² | 13.8 m · 4 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Recognised contractor
5 categoriesFBM Connect BV46467
Similar companies · same sector, comparable size
VM Boringen
BE 0707.657.164
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BOUWWERKEN SERMANT
BE 1014.346.915
Geraardsbergen · Eq €19k
EGI TECHNICS
BE 1010.014.379
Dendermonde · Eq €20k
AG CONNECTIONS
BE 1006.084.295
Dendermonde · Eq €18k
CBPR
BE 0742.833.621
Marche-en-Famenne · Eq €20k
Of 607 companies in sector 43130 we hold annual accounts for 302. 171 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-08-2018
Fiscal year end31-12
Activities, NACEBEL
43130Specialised construction activities
42110Construction of roads and motorways
42212Civil engineering
42219Civil engineering
42220Construction of utility projects for electricity and telecommunications
43120Site preparation
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.