FG PAPER
ActiveSummary
FG PAPER has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-24k) and a net result of €-14k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 6% of 11322 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
21
/ 100
Critical
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.07 against 0.11 in 2024; short-term debt: 306.7% and cash: 1.8% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-206.7%
Return on assets
-121.3%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-24k
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
43 d early
2023
41 d early
2022
34 d early
2021
11 d late
2020
39 d early
2019
45 d early
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-14k▲ 34.2%
2024 · €-22k
2018: €3k
2019: €-2k
2020: €12k
2021: €1k
2022: €1k
2023: €-22k
2024: €-22k
2018 → 2025
Working capital
€-33k▼ 63.1%
2024 · €-21k
2018: €29k
2019: €32k
2020: €48k
2021: €51k
2022: €47k
2023: €18k
2024: €-21k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€51k-€52k▲ 2.2%€30k▼ 42.1%€-10k€-24k▼ 142%
Operating result€2k-€3k▲ 3.4%€-22k€-21k▲ 1.6%€-14k▲ 34.1%
Net result€1k-€1k▼ 18.1%€-22k€-22k▲ 1.6%€-14k▲ 34.2%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €14k in 2025 against €21k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12k
Fixed assets
€9k ▼ 11.8%
Current assets
€2k ▼ 4.4%
Key figures and ratios
EBITDA
€-13k▲
2024 · €-20k
Cash flow
€-13k▲
2024 · €-20k
Solvency
-206.7%▼
2024 · -76.6%
Current ratio
0.07▼
2024 · 0.11
Debt to equity
-1.48▲
2024 · -2.31
ROA
-121.3%▲
2024 · -165.2%
Interest coverage
-267.31▲
2024 · -432.10
Debt
€36k▲
2024 · €23k
Debt ≤ 1 year
€36k▲
2024 · €23k
Income taxes
€75▼
2024 · €174
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 · 32 lines
Balance sheet
Code20242025
Assets
Total assets20/58€13k€12k▼
Fixed assets21/28€11k€9k▼
Tangible fixed assets22/27€11k€9k▼
Other tangible fixed assets26€11k€9k▼
Current assets29/58€3k€2k▼
Amounts receivable within one year40/41€2k€2k▲
Trade receivables40€1k€1k▲
Other amounts receivable41€696€1k▲
Cash at bank and in hand54/58€831€214▼
Equity and liabilities
Total equity and liabilities10/49€13k€12k▼
Equity10/15€-10k€-24k▼
Profit (loss) carried forward14€-10k€-24k▼
Amounts payable17/49€23k€36k▲
Amounts payable within one year42/48€23k€36k▲
Trade debts44€2k€4k▲
Suppliers440/4€2k€4k▲
Taxes, remuneration and social security45€306€75▼
Taxes450/3€306€75▼
Other amounts payable47/48€21k€32k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€1k=
Other operating charges640/8€1k€651▼
Gross operating margin9900€-19k€-12k▲
Operating profit (loss)9901€-21k€-14k▲
Financial charges65/66B€47€48▲
Recurring financial charges65€47€48▲
Profit (loss) for the period before taxes9903€-21k€-14k▲
Income taxes67/77€174€75▼
Profit (loss) for the period9904€-22k€-14k▲
Transfer from tax-exempt reserves789€2k-
Profit (loss) for the period to be appropriated9905€-20k€-14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-10k€-24k▼
Profit (loss) brought forward from the previous period14P€10k€-10k▼
The notes to these accounts (3 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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-22k ▼2066%
Net result drops to €-22k, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 11 days late
2021
31-12
Financial
Liquidity times 5current ratio 21.08
Current ratio from 4.45 to 21.08; short-term debt falls from €14k to €3k.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity doublescurrent ratio 52.98
Current ratio from 25.32 to 52.98; short-term debt falls from €1k to €612.
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Waterloo · 1 establishment unit since 2012
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.
Allée du Petit Paris 361410 WaterlooGround area
844 m²
Building footprint
104 m²
Volume, LiDAR
555 m³
Parcel 25763L0585/00G000, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Allée du Petit Paris 36, 1410 Waterloo
since 20122.205.996.269
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763L0585/00G000 | Wallonia | 844 m² | 1 · 104 m² | 7.4 m · 2 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.
Similar companies · same sector, comparable size
M. CHAVET
BE 0476.457.763
Vielsalm · Eq €30,159
COMM-TEC
BE 0642.922.334
Kortrijk · Eq €30,000
PHYTO-TECHNICS
BE 0635.833.614
Halle · Eq €30,364
HIGH INCENTIVE TECHNOLOGIES INTERNATIONAL
BE 0430.529.649
Wavre · Eq €29,945
COFYNN
BE 0838.542.234
Haacht · Eq €29,922
Of 4,420 companies in sector 46180 we hold annual accounts for 1,886. 1,266 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-12-2011
Fiscal year end31-12
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
46190Agents in non-specialised wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.