ACTIVE

FSD Group

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Financial year 2025 · closed on 31/12/2025

Net result

-41,7 k €

-294.3% YoY

Revenue

1,7 M €

+20.1% YoY

Equity

819 k €

+211.6% YoY

Workforce

6,5 ETP

+14.0% YoY

What does FSD Group do?

FSD Group is a Private limited company incorporated in 2009. Its main activity is: Activities of insurance agents and brokers. Its registered office is in Anderlecht. It employs on average 6,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0820.116.984

Incorporation

28/10/2009

Legal form

Private limited company

Registered office

Boulevard Paepsem 11 box 9
1070 Anderlecht · BruxellesSee on map

Contributed capital

824 457,00 €

Latest accounts

31/12/2025

Average workforce

6,5 ETP

Activities (NACE)

66220Activities of insurance agents and brokers· main 66220Activities of insurance agents and brokers 70200Management consultancy activities 70220Business and other management consultancy activities

Joint committees (3)

Signals

Solid equityGood liquidityPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Revenue	1,7 M €	+20.1%	1,4 M €	+5.1%	1,3 M €	-26.3%	1,8 M €	-6.9%	1,9 M €	+14.3%	1,7 M €	-37.8%	2,7 M €	-7.4%	2,9 M €	+0.8%	2,9 M €	+3.8%	2,8 M €		–		–		–		–		–		8,5 k €
EBITDA	15,1 k €	+104%	-409,1 k €	-1700%	-22,7 k €	+54.8%	-50,3 k €	+35.1%	-77,5 k €	+79.8%	-383,1 k €	-201%	379,4 k €	-37.9%	611,1 k €	-7.0%	656,9 k €	+135%	279,1 k €	-24.6%	370,3 k €	+642%	-68,3 k €	-1522%	4,8 k €	+101%	-466,6 k €	-22.2%	-381,7 k €	-41649%	-914,3 €
Operating result	38,3 k €	-16.9%	46,1 k €	-71.5%	162 k €	+120%	-815,2 k €	-638%	-110,4 k €	+73.2%	-411,4 k €	-214%	360,5 k €	-39.3%	594,3 k €	-6.1%	632,9 k €	+150%	253 k €	-26.4%	343,8 k €	+585%	-70,9 k €	-1702%	4,4 k €	+101%	-466,9 k €	-22.2%	-382 k €	-41682%	-914,3 €
Net result	-41,7 k €	-294%	21,5 k €	-68.5%	68,2 k €	+107%	-923,6 k €	-414%	-179,5 k €	+58.0%	-427,7 k €	-282%	234,9 k €	-44.3%	421,9 k €	-16.4%	504,8 k €	+27.4%	396,2 k €	-7.1%	426,2 k €	+528%	-99,6 k €	-359%	-21,7 k €	+95.5%	-484,5 k €	+15.0%	-569,7 k €	-60330%	-942,8 €
Balance sheet
Equity	819 k €	+212%	-733,6 k €	+2.8%	-755,1 k €	+8.3%	-823,3 k €	-920%	100,4 k €	-64.1%	279,9 k €	-60.4%	707,7 k €	+49.7%	472,8 k €	-69.7%	1,6 M €	+47.8%	1,1 M €	+29.4%	815,5 k €	+291%	-426,3 k €	-154%	-168 k €	-14.8%	-146,3 k €	-153%	274,5 k €	+1491%	17,3 k €
Total assets	1,1 M €	-22.5%	1,4 M €	+11.1%	1,3 M €	-1.3%	1,3 M €	-45.9%	2,3 M €	+50.4%	1,6 M €	-1.3%	1,6 M €	+58.8%	994,1 k €	-48.7%	1,9 M €	+49.0%	1,3 M €	-23.5%	1,7 M €	+96.2%	867,8 k €	+44.2%	601,7 k €	+5.9%	568,1 k €	-44.3%	1 M €	+1465%	65,2 k €
Cash	25,4 k €	-90.2%	258,3 k €	+36.4%	189,3 k €	+32.2%	143,3 k €	+112%	67,7 k €	-72.0%	241,6 k €	-58.4%	581,1 k €	-2.6%	596,4 k €	-44.7%	1,1 M €	+251%	307,2 k €	-18.5%	377 k €	+8134%	4,6 k €	+426%	870 €	-73.8%	3,3 k €	+2361%	135 €	-97.4%	5,2 k €
Debts	205,9 k €	-89.2%	1,9 M €	+39.3%	1,4 M €	+8.5%	1,3 M €	-41.3%	2,1 M €	+68.6%	1,3 M €	+48.4%	855,8 k €	+88.0%	455,3 k €	+60.8%	283,2 k €	+41.0%	200,8 k €	-76.7%	860,3 k €	-14.7%	1 M €	+108%	484,5 k €	+12.9%	429,2 k €	+3.5%	414,6 k €	+764%	48 k €
Other
Workforce	6,5 ETP	+14.0%	5,7 ETP	+1.8%	5,6 ETP	-44.0%	10,0 ETP	-7.4%	10,8 ETP	+4.9%	10,3 ETP	-8.8%	11,3 ETP	+4.6%	10,8 ETP	-6.9%	11,6 ETP	-19.4%	14,4 ETP	+13.4%	12,7 ETP	+1170%	1,0 ETP	0.0%	1,0 ETP	-50.0%	2,0 ETP	-20.0%	2,5 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 16 ended

Active mandates

Maud Martens

Director · since 18 décembre 2025

Active

Bruno Moors

Director · since 11 décembre 2024

Active

Ended mandates

Bruno Moors

Director · since 17 novembre 2023

Ended

Arie Van den Berg

Director · since 23 mai 2023

Ended

SA CONS

Director · since 31 décembre 2022 · 0794.715.753

Represented by Soufian Abbadi

Ended

Comm.V Pieter De Vries & Co

Director · since 02 octobre 2020 · until 31 décembre 2022 · 0559.972.189

Represented by Pieter De Vries

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/06/2026	30/06/2025	05/07/2024	29/09/2023	29/09/2022	25/10/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	24/06/2022	25/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	29/06/2026	Dutch	PDF
Full model	31/12/2024	27/06/2025	30/06/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	05/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	29/09/2023	Dutch	PDF
Full model	31/12/2021	24/06/2022	29/09/2022	Dutch	PDF
Full model	31/12/2020	25/06/2021	25/10/2021	Dutch	PDF
Full model	31/12/2019	30/10/2020	30/11/2020	Dutch	PDF
Full modelCorrection	31/12/2018	28/06/2019	15/11/2019	Dutch	PDF
Full model	31/12/2018	28/06/2019	30/08/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	31/08/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	24/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	04/10/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	17/07/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	07/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	20/07/2012	10/09/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	12/07/2011	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 2 active · 16 ended

Active mandates

Maud Martens

Director · since 18 décembre 2025

Active

Bruno Moors

Director · since 11 décembre 2024

Active

Ended mandates

Bruno Moors

Director · since 17 novembre 2023

Ended

Arie Van den Berg

Director · since 23 mai 2023

Ended

SA CONS

Director · since 31 décembre 2022 · 0794.715.753

Represented by Soufian Abbadi

Ended

Comm.V Pieter De Vries & Co

Director · since 02 octobre 2020 · until 31 décembre 2022 · 0559.972.189

Represented by Pieter De Vries

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Other17/11/2025
DIVERSEN
PDF
Mandates20/12/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/02/2023
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Mandates13/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares04/02/2019
KAPITAAL - AANDELEN
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

2025
Annual accounts 2025-41,7 k €↓
2024
Annual accounts 202421,5 k €↓
2023
Annual accounts 202368,2 k €↑
2022
Annual accounts 2022-923,6 k €↓
2021
Annual accounts 2021-179,5 k €↑
2020
Annual accounts 2020-427,7 k €↓
2019
Annual accounts 2019234,9 k €↓
2018
Annual accounts 2018421,9 k €↓
2017
Annual accounts 2017504,8 k €↑
2016
Annual accounts 2016396,2 k €↓
2015
Annual accounts 2015426,2 k €↑
2014
Annual accounts 2014-99,6 k €↓
2013
Annual accounts 2013-21,7 k €↑
2012
Annual accounts 2012-484,5 k €↑
2011
Annual accounts 2011-569,7 k €↓
2011
Name changeFSD GROUP
2010
Annual accounts 2010-942,8 €
2010
Name changeDDW BELGIQUE SPRL
28/10/2009
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

FSD Group

Overview

What does FSD Group do?

Trend over 16 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline