Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 37 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
FITCO from Oostende, company number BE0466606028, closed financial year 2025 with a result of € 4,410 after tax. For that financial year FITCO recorded a gross margin of € 3.1 million and equity of € 1.5 million. Compared with financial year 2024, the result moved from € -27,568 to € 4,410. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 24, 2026.
€ 1.5 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 4,410
▲ still € 27,568 loss in 2024
Profit after tax over the fiscal year.
€ 214,672
▲ 6% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 620,172.
People and assets in 2025
25.8
▼ 2.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.6 million
▲ 5% vs 2024
€ 62,200 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.
€ 3.6 million
▼ 12% vs 2024
Of which on lease € 3.6 million.
Debts at end 2025
€ 8.6 million
€ 614,859 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 1.6 million
▲ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 208,850
▲ 16% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,928,865 | € 2,980,264 | € 3,001,394 | € 3,080,994 | ▲ 3% |
| Profit after taxes | € -1,273 | € 12,991 | € -27,568 | € 4,410 | ▲ € 31,979 |
| Equity | € 1,481,338 | € 1,494,329 | € 1,466,761 | € 1,471,172 | |
| Total debts | € 10,676,671 | € 11,110,530 | € 10,481,648 | € 10,580,050 | ▲ 1% |
| Cash | € 73,808 | € 437,860 | € 202,862 | € 214,672 | ▲ 6% |
| Retained profit | € 630,338 | € 643,329 | € 615,761 | € 620,172 | ▲ 1% |
| Bank debt | € 9,110,037 | € 9,588,139 | € 8,602,776 | € 8,620,260 | |
| Balance sheet total | € 12,158,010 | € 12,604,860 | € 11,948,409 | € 12,051,221 | ▲ 1% |
| Employees (FTE) | 30.5 | 28.2 | 28.2 | 25.8 | ▼ 2.4 |
Key figures of FITCO, 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 July 2027.
What happened to FITCO?
What happened at FITCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Luc Decraemer stepped down as director. NBB
- Karine Beeckman stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 4,410. Source: NBB ↗
- Luc Decraemer became a director. NBB
- Karine Beeckman became a director. NBB
- New establishment in Oostende. KBO
- Start of the company according to the CBE. KBO
In short
From € 1,273 loss in 2022 to € 4,410 profit in 2025.
Paid € 3,314 in corporate taxes since 2022.
Best year ever: 2023, with € 12,991 profit.
On average € 119,400 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Luc Decraemer
Managing director
since 2024 · until 2029
Karine Beeckman
Managing director
since 2024 · until 2029
Establishments
Establishment units
Physical locations of this company
John Cordierlaan 10
8400 Oostende
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0466.606.028
- VAT number
- BE 0466.606.028
- Registered office
- John Cordierlaan 10, 8400 Oostende
- Names & denominations
- FITCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 August 1999
- Peppol
- Active · Active since 4 Nov 2025
- Activities · NACE
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