Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Busy address KBO
18 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
F.S.B. from Antwerpen, company number BE0400377594, closed financial year 2025 with a result of € -130,469 after tax. For that financial year F.S.B. recorded a gross margin of € 297,873 and equity of € -1.6 million. Compared with financial year 2024, the result moved from € -120,183 to € -130,469. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 3, 2026.
€ -1.6 million
▼ € 130,469 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -130,469
▼ 9 % more loss than in 2024
Profit after tax over the fiscal year.
€ 29,341
▼ 77% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.6 million.
Debts at end 2025
€ 3.8 million
▲ 2% vs 2024
€ 153,704 is repaid this year. At this pace the long-term loan is gone in ≈ 25 years.
€ 66,961
▲ 53% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 11,128
▲ 130% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 545,803 | € 276,917 | € 288,245 | € 297,873 | ▲ 3% |
| Profit after taxes | € 609,888 | € -145,246 | € -120,183 | € -130,469 | ▼ € 10,286 |
| Equity | € -1,166,163 | € -1,311,409 | € -1,431,592 | € -1,562,061 | ▼ € 130,469 |
| Total debts | € 4,077,108 | € 3,723,375 | € 3,756,526 | € 3,856,939 | ▲ 3% |
| Cash | € 159,967 | € 125,133 | € 128,465 | € 29,341 | ▼ 77% |
| Land & buildings | € 2,443,271 | € 2,286,362 | € 2,131,180 | € 2,088,520 | ▼ 2% |
| Retained profit | € -1,230,163 | € -1,375,409 | € -1,495,592 | € -1,626,061 | ▼ € 130,469 |
| Bank debt | € 3,973,842 | € 3,658,358 | € 3,707,800 | € 3,778,850 | ▲ 2% |
| Balance sheet total | € 3,420,611 | € 2,893,101 | € 2,778,163 | € 2,720,201 | ▼ 2% |
Key figures of F.S.B., fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 March 2027.
What happened to F.S.B.?
What happened at F.S.B. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 130,469. filed late Source: NBB ↗
- Down2Earth Continuation Fund Privak private privak naar Belgisch recht CommV became a director. NBB
- Matthias Neirynck became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Gent. KBO
In short
From € 609,888 profit in 2022 to € 130,469 loss in 2025.
Paid € 186,581 in corporate taxes since 2022.
Best year ever: 2022, with € 609,888 profit.
Management
The stake of Down2Earth Continuation Fund Privak comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
F.S.B.Behind F.S.B. are Down2Earth Continuation Fund Privak private privak naar Belgisch recht CommV and Matthias Neirynck. The shares are held by Down2Earth Continuation Fund Privak (100%).
Directors
According to the 2025 annual accounts
Down2Earth Continuation Fund Privak private privak naar Belgisch recht CommV
Director · represented by Peter Kloeck
Also active at: DPS International
since 2024
Matthias Neirynck
Director
Also active at: VECONAL, HERTECANT FLANGES, CYCLOBILITY, B-15, Flange International, MANEFIN, HENGELHOEF CONCRETE JOINTS, SummitCo +1 more
since 2024
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Minderbroedersrui 11
2000 Antwerpen
Booiebos 3
9031 Gent
Active since 1 March 1959
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 18 companies are registered at this address.
All companies at this address →Down2Earth Partners
€ 1.3 million gross margin · 2025
Down2Earth Capital
€ 0 revenue · 2026
Down2Earth Privak
Down2Earth Investment Fund
Down2Earth Capital II
€ 680,855 revenue · 2026
+13 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0400.377.594
- VAT number
- BE 0400.377.594
- Registered office
- Minderbroedersrui 11, 2000 Antwerpen
- Names & denominations
- F.S.B.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 March 1959
- Peppol
- Active · Active since 12 Sept 2025
- Activities · NACE
Verhuur en lease van machines en installaties voor de bouwnijverheid en de weg- en waterbouw
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen