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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Tight liquidity NBB
Cash and receivables cover 28 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
FSI from Evergem, company number BE0423697978, closed financial year 2026 with a result of € 124,438 after tax. For that financial year FSI recorded a gross margin of € 644,627 and equity of € 1.7 million. Compared with financial year 2025, the result moved from € -307,715 to € 124,438. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 29, 2026.
€ 1.7 million
▲ 8% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 124,438
▲ still € 307,715 loss in 2025
Profit after tax over the fiscal year.
€ 10,176
▼ 88% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2026. Retained profit grew to € 1.7 million.
People and assets in 2026
3.5
▼ 1.2 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 76,205
▼ 13% vs 2025
€ 21,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 47,900
▼ 34% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 5.1 million
▼ 22% vs 2025
€ 192,735 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 1.3 million
▲ 38% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 56,406
▲ € 46,673 vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | - | € 10,265,774 | - | - | |
| Gross margin | € 1,127,365 | - | € 281,782 | € 644,627 | ▲ 129% |
| Profit after taxes | € 504,148 | € -149,674 | € -307,715 | € 124,438 | ▲ € 432,153 |
| Equity | € 2,063,321 | € 1,899,117 | € 1,591,403 | € 1,715,840 | ▲ 8% |
| Total debts | € 7,643,059 | € 8,484,000 | € 7,541,091 | € 6,468,242 | ▼ 14% |
| Cash | € 199,720 | € 83,281 | € 84,552 | € 10,176 | ▼ 88% |
| Land & buildings | € 1,816,265 | € 1,744,344 | € 1,676,831 | € 1,568,763 | ▼ 6% |
| Retained profit | € 2,044,679 | € 1,880,476 | € 1,572,761 | € 1,697,199 | ▲ 8% |
| Dividend | € 800 | € 0 | € 0 | € 0 | |
| Bank debt | € 6,298,553 | € 7,475,535 | € 6,575,773 | € 5,096,963 | ▼ 22% |
| Balance sheet total | € 9,764,499 | € 10,451,380 | € 9,132,494 | € 8,184,082 | ▼ 10% |
| Employees (FTE) | 6 | 2.6 | 4.7 | 3.5 | ▼ 1.2 |
Key figures of FSI, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to FSI?
What happened at FSI in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 124,438. Source: NBB ↗
- Tim Van De Woestyne became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Evergem. KBO
In short
From € 504,148 profit in 2023 to € 124,438 profit in 2026.
Paid € 211,241 in corporate taxes since 2023.
Best year ever: 2023, with € 504,148 profit.
On average € 184,200 of value added per employee in 2026.
Management
Behind FSI is Tim Van De Woestyne. It owns 94.9% of Belleforté itself.
Directors
According to the 2026 annual accounts
Tim Van De Woestyne
Director
since 2003
Establishments
Establishment units
Physical locations of this company
Noorwegenstraat 51
9940 Evergem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
AS-ZXCS, NL
Website info
Features
Security
Network
Details
- Company number
- 0423.697.978
- VAT number
- BE 0423.697.978
- Registered office
- Noorwegenstraat 51, 9940 Evergem
- Names & denominations
- FSI
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 17 February 1983
- Peppol
- Active · Active since 28 Aug 2025
- Contact
- fsi.be
- Activities · NACE
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