ACTIVE

FSN

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Financial year 2025 · closed on 31/12/2025
Net result
67,2 k €
+163.6% YoY
Gross margin
304,6 k €
+9.5% YoY
Equity
110,8 k €
-8.8% YoY

What does FSN do?

FSN is a Private company with limited liability incorporated in 2019. Its main activity is: Retail sale in non-specialised stores with food, beverages or tobacco predominating. Its registered office is in Antwerpen.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0725.453.496
Incorporation
11/04/2019
Legal form
Private company with limited liability
Registered office
Blancefloerlaan 177
2050 Antwerpen · FlandreSee on map
Contributed capital
20 000,00 €
Latest accounts
31/12/2025
Activities (NACE)
47110Retail sale in non-specialised stores with food, beverages or tobacco predominating· main47112Retail sale in non-specialised stores with food, beverages or tobacco predominating47300Retail sale of automotive fuel in specialised stores47300Retail sale of automotive fuel in specialised stores47252Retail sale of beverages in specialised stores47252Retail sale of beverages in specialised stores+8
Signals
ProfitableLow riskPositive cashflowPositive EBITDAHealthy social debts
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Health score
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✦ Verdict · Analyst summary
Financials

Trend over 6 financial years

202520242023202220212020
Income statement
Gross margin304,6 k €278,2 k €238,7 k €226,9 k €306,5 k €214,2 k €
EBITDA116,2 k €43,2 k €65,5 k €50,3 k €146,5 k €85,5 k €
Operating result111,4 k €42,6 k €63,4 k €47,3 k €143,5 k €84,2 k €
Net result67,2 k €25,5 k €42,9 k €32 k €101,3 k €49,8 k €
Balance sheet
Equity110,8 k €121,5 k €146 k €203,1 k €171,1 k €69,8 k €
Total assets578,6 k €472,2 k €511,7 k €513,1 k €379,1 k €299,5 k €
Cash101,9 k €153,3 k €191,3 k €213 k €252 k €56,1 k €
Debts456 k €337,2 k €365,7 k €309,9 k €208 k €229,7 k €
Other
Workforce–6,9 ETP6,2 ETP––6,1 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Fahim Eshaghzey

Manager · since 09 mai 2019

Active

Ended mandates

Fahim Eshaghzey

Director · since 09 mai 2019

Ended
Mohammad Nabi Eshaqzai

Director · since 10 avril 2019

Ended
Sumit Shahi

Director · since 10 avril 2019 · until 31 mars 2021

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelAbridged modelAbridged modelMicro modelMicro modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202117/04/2019
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months21 months
Filing date30/08/202628/07/202530/08/202415/09/202329/08/202221/10/2021
General meeting30/06/202624/06/202525/06/202427/06/202328/06/202229/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

6 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202530/06/202630/08/2026DutchPDF
Abridged model31/12/202424/06/202528/07/2025DutchPDF
Abridged model31/12/202325/06/202430/08/2024DutchPDF
Micro model31/12/202227/06/202315/09/2023DutchPDF
Micro model31/12/202128/06/202229/08/2022DutchPDF
Abridged model31/12/202029/06/202121/10/2021DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Fahim Eshaghzey

Manager · since 09 mai 2019

Active

Ended mandates

Fahim Eshaghzey

Director · since 09 mai 2019

Ended
Mohammad Nabi Eshaqzai

Director · since 10 avril 2019

Ended
Sumit Shahi

Director · since 10 avril 2019 · until 31 mars 2021

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates29/06/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates15/04/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office21/08/2020
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates17/01/2020
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/10/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/05/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other30/04/2019
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 202567,2 k €↑
  2. 2024
    Annual accounts 202425,5 k €↓
  3. 2023
    Annual accounts 202342,9 k €↑
  4. 2022
    Annual accounts 202232 k €↓
  5. 2021
    Annual accounts 2021101,3 k €↑
  6. 2020
    Annual accounts 202049,8 k €
  7. 11/04/2019
    IncorporationPrivate company with limited liability