ACTIVE

FETBEL

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Financial year 2025 · closed on 31/12/2025

Net result

136,5 k €

-59.8% YoY

Gross margin

-30,9 k €

-10.8% YoY

Equity

28,8 M €

+0.5% YoY

What does FETBEL do?

FETBEL is a Private limited company incorporated in 2007. Its registered office is in Forest.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0890.031.814

Incorporation

13/06/2007

Legal form

Private limited company

Registered office

Avenue Van Volxem 302-304
1190 Forest · BruxellesSee on map

Contributed capital

14 899 200,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-30,9 k €	-10.8%	-27,9 k €	+9.7%	-30,9 k €	-11.6%	-27,7 k €	-1.1%	-27,4 k €	-2.0%	-26,8 k €	-2.1%	-26,3 k €	+44.9%	-47,7 k €	+34.0%	-72,3 k €	+12.6%	-82,6 k €	+55.2%	-184,4 k €	-196%	-62,3 k €	-114%	-29 k €	+53.5%	-62,4 k €	+15.1%	-73,4 k €	-51.5%	-48,5 k €	-69.0%	-28,7 k €	-269%	-7,8 k €	+56.0%	-17,7 k €
EBITDA	-31,9 k €	+3.1%	-32,9 k €	+9.2%	-36,2 k €	+96.9%	-1,2 M €	-4159%	-27,4 k €	+1.3%	-27,8 k €	-2.2%	-27,2 k €	+44.1%	-48,6 k €	+39.2%	-79,9 k €	+4.5%	-83,7 k €	+54.9%	-185,4 k €	-193%	-63,2 k €	-111%	-30 k €	+52.7%	-63,3 k €	+14.8%	-74,4 k €	-50.3%	-49,5 k €	-67.0%	-29,6 k €	-260%	-8,2 k €	+54.5%	-18 k €
Operating result	-31,9 k €	+3.1%	-32,9 k €	+9.2%	-36,2 k €	-23.0%	-29,4 k €	+87.1%	-227,4 k €	+0.2%	-227,8 k €	-739%	-27,2 k €	+96.9%	-869,5 k €	-729%	-104,9 k €	+72.0%	-375,2 k €	-102%	-185,4 k €	-193%	-63,2 k €	-111%	-30 k €	+52.7%	-63,3 k €	+17.3%	-76,6 k €	-54.9%	-49,5 k €	-67.0%	-29,6 k €	-260%	-8,2 k €	+63.6%	-22,6 k €
Net result	136,5 k €	-59.8%	339,3 k €	-59.7%	840,9 k €	+629%	115,3 k €	+37.3%	84 k €	-16.3%	100,4 k €	-89.8%	982,2 k €	+285%	-531,5 k €	-536%	-83,6 k €	+67.7%	-258,9 k €	-111%	2,3 M €	+76.1%	1,3 M €	+58.1%	813,7 k €	+11.1%	732,3 k €	-51.2%	1,5 M €	-81.5%	8,1 M €	+3677%	214,9 k €	-48.3%	415,4 k €	+172%	152,6 k €
Balance sheet
Equity	28,8 M €	+0.5%	28,6 M €	+1.2%	28,3 M €	+2.1%	27,7 M €	+0.4%	27,6 M €	+0.3%	27,5 M €	+0.4%	27,4 M €	+3.7%	26,4 M €	-2.0%	26,9 M €	-0.3%	27 M €	-0.9%	27,3 M €	+9.1%	25 M €	+1.7%	24,6 M €	+3.4%	23,8 M €	-6.0%	25,3 M €	+6.3%	23,8 M €	+61.0%	14,8 M €	+1.5%	14,6 M €	+2.9%	14,2 M €
Total assets	29 M €	+0.0%	29 M €	+2.6%	28,3 M €	-7.4%	30,6 M €	+0.4%	30,4 M €	+0.3%	30,4 M €	+0.3%	30,2 M €	+3.4%	29,3 M €	-1.8%	29,8 M €	-3.5%	30,9 M €	-3.8%	32,1 M €	-8.7%	35,2 M €	+43.0%	24,6 M €	+3.4%	23,8 M €	-6.1%	25,3 M €	+6.4%	23,8 M €	+60.9%	14,8 M €	+1.6%	14,6 M €	+2.9%	14,2 M €
Cash	226,3 k €	-62.8%	608,6 k €	-18.2%	744,2 k €	-45.2%	1,4 M €	-12.7%	1,6 M €	-35.0%	2,4 M €	-14.8%	2,8 M €	+59.8%	1,8 M €	-63.3%	4,8 M €	+133%	2,1 M €	+63.1%	1,3 M €	+38.6%	907,9 k €	-32.0%	1,3 M €	-31.2%	1,9 M €	-69.9%	6,4 M €	+125%	2,9 M €	+32837%	8,7 k €	-96.4%	242,1 k €	+4022%	5,9 k €
Debts	276 k €	-32.6%	409,7 k €	+2214%	17,7 k €	-99.4%	2,9 M €	+0.2%	2,9 M €	-0.0%	2,9 M €	+0.1%	2,9 M €	+0.0%	2,9 M €	-0.3%	2,9 M €	-25.4%	3,8 M €	-20.1%	4,8 M €	-52.6%	10,1 M €	+194232%	5,2 k €	+76.9%	2,9 k €	-89.6%	28,3 k €	+103%	13,9 k €	-13.1%	16 k €	+11288%	140,8 €	-94.1%	2,4 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 28 ended

Active mandates

Thierry HERMANS

Director · since 25 septembre 2017

Active

Carlos HENRIQUES DA SILVA

Director · since 24 juin 2014

Active

Ended mandates

Thierry HERMANS

Administrator - manager · since 25 septembre 2017

Ended

Thierry HERMANS

Manager · since 25 septembre 2017

Ended

Christian FRANCOIS

Manager · since 18 mars 2015 · until 15 décembre 2017

Ended

Christian FRANCOIS

Manager · since 18 mars 2015

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	31/08/2026	29/08/2025	29/08/2024	30/08/2023	30/08/2022	31/08/2021
General meeting	21/05/2026	15/05/2025	16/05/2024	18/05/2023	19/05/2022	20/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	21/05/2026	31/08/2026	French	PDF
Abridged model	31/12/2024	15/05/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	16/05/2024	29/08/2024	French	PDF
Abridged model	31/12/2022	18/05/2023	30/08/2023	French	PDF
Abridged model	31/12/2021	19/05/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	20/05/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	22/05/2020	30/10/2020	French	PDF
Abridged modelCorrection	31/12/2018	16/05/2019	04/09/2019	French	PDF
Abridged model	31/12/2018	16/05/2019	30/08/2019	French	PDF
Abridged model	31/12/2017	17/05/2018	31/08/2018	French	PDF
Abridged model	31/12/2016	18/05/2017	30/08/2017	French	PDF
Abridged model	31/12/2015	19/05/2016	30/09/2016	French	PDF
Abridged model	31/12/2014	21/05/2015	28/08/2015	French	PDF
Abridged model	31/12/2013	15/05/2014	16/07/2014	French	PDF
Abridged model	31/12/2012	16/05/2013	23/07/2013	French	PDF
Abridged model	31/12/2011	17/05/2012	20/06/2012	French	PDF
Abridged model	31/12/2010	19/05/2011	22/08/2011	French	PDF
Abridged model	31/12/2009	27/05/2010	30/08/2010	French	PDF
Abridged model	31/12/2008	23/07/2009	31/08/2009	French	PDF
Abridged model	31/12/2007	15/05/2008	30/07/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 2 active · 28 ended

Active mandates

Thierry HERMANS

Director · since 25 septembre 2017

Active

Carlos HENRIQUES DA SILVA

Director · since 24 juin 2014

Active

Ended mandates

Thierry HERMANS

Administrator - manager · since 25 septembre 2017

Ended

Thierry HERMANS

Manager · since 25 septembre 2017

Ended

Christian FRANCOIS

Manager · since 18 mars 2015 · until 15 décembre 2017

Ended

Christian FRANCOIS

Manager · since 18 mars 2015

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DENOMINATION - DEMISSIONS, NOMINATIONS
PDF
Mandates27/12/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates01/12/2017
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates11/12/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates19/11/2015
DEMISSIONS, NOMINATIONS
PDF
Registered office14/07/2015
SIEGE SOCIAL
PDF
Mandates09/10/2014
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates30/05/2014
DEMISSIONS, NOMINATIONS
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 2025136,5 k €↓
2024
Annual accounts 2024339,3 k €↓
2023
Annual accounts 2023840,9 k €↑
2022
Annual accounts 2022115,3 k €↑
2021
Annual accounts 202184 k €↓
2020
Annual accounts 2020100,4 k €↓
2019
Annual accounts 2019982,2 k €↑
2018
Annual accounts 2018-531,5 k €↓
2017
Annual accounts 2017-83,6 k €↑
2016
Annual accounts 2016-258,9 k €↓
2015
Annual accounts 20152,3 M €↑
2014
Annual accounts 20141,3 M €↑
2013
Annual accounts 2013813,7 k €↑
2012
Annual accounts 2012732,3 k €↓
2011
Annual accounts 20111,5 M €↓
2010
Annual accounts 20108,1 M €↑
2009
Annual accounts 2009214,9 k €↓
2008
Annual accounts 2008415,4 k €↑
2007
Annual accounts 2007152,6 k €
13/06/2007
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

FETBEL

Overview

What does FETBEL do?

Trend over 19 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