$FBGL

FBS Global Ltd

CIK:0001938534|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2025 SGD ($) $ / shares shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2024 SGD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 SGD ($) $ / shares shares
Income Statement [Abstract]
Revenue	$ 19,136,922	$ 25,860,705		$ 13,847,548		$ 21,810,317
Cost of revenue	17,192,791	23,233,501		12,597,472		19,165,477
Gross profit	1,944,131	2,627,204		1,250,076		2,644,840
Operating expenses
Provision for credit loss				154,077		399,278
General and administrative expenses	2,873,899	3,883,646		2,063,324		2,290,312
Research and development expenses	499,130	674,500
Total operating expenses	3,373,029	4,558,146		2,217,401		2,689,590
Income (loss) from operations	(1,428,898)	(1,930,942)		(967,325)		(44,750)
Other income (expense)
Interest expenses, net	(10,702)	(14,463)		(65,921)		(77,104)
Finance expense, net	(5,536)	(7,480)		(4,273)		(8,096)
Other income	147,393	199,180		140,656		99,543
Foreign exchange (loss) gain, net	(209,004)	(282,438)		46,859		(2,906)
Total other income (expenditure), net	(77,849)	(105,201)		117,321		11,437
(Loss) income before provision for income taxes	(1,506,747)	(2,036,143)		(850,004)		(33,313)
Income tax benefit				35,638		37,998
Net income (loss)	(1,506,747)	(2,036,143)	$ (610,775)	(814,366)	$ 3,516	4,685
Comprehensive income (loss)	$ (1,506,747)	$ (2,036,143)		$ (814,366)		$ 4,685
Earnings per share - basic \| (per share)	$ (0.11)			$ (0.07)		$ 0.00
Earnings per share - diluted \| (per share)	$ (0.11)	$ (0.15)		$ (0.07)		$ 0.00
Weighted average shares outstanding, basic	13,373,288	13,373,288	11,250,000	11,250,000	11,250,000	11,250,000
Weighted average shares outstanding, diluted	13,373,288	13,373,288	11,250,000	11,250,000	11,250,000	11,250,000

Consolidated Statements of Cash Flows	12 Months Ended
Consolidated Statements of Cash Flows	Dec. 31, 2025 USD ($)	Dec. 31, 2025 SGD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 SGD ($)	Dec. 31, 2023 SGD ($)	Dec. 31, 2025 SGD ($)
Cash flows from operating activities:
Net income (loss)	$ (1,506,747)	$ (2,036,143)	$ (610,775)	$ (814,366)	$ 4,685
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for credit losses				154,077	399,278
Depreciation of property and equipment	122,572	165,636		170,344	161,711
Deferred tax expense (benefit)				(36,269)	4,565
Amortization of right-of-use assets and interest of lease liabilities	532,800	720,000		720,000
Changes in operating assets and liabilities:
Accounts receivable	(560,403)	(757,302)		690,716	(115,685)
Contract assets	(4,488,668)	(6,065,767)		1,303,505	1,517,048
Income tax recoverable				(230,835)
Prepayments and other current assets	(611,496)	(826,346)		23,595	(3,052)
Accounts payable	1,314,643	1,776,545		(1,215,409)	399,838
Contract liabilities	2,392,020	3,232,461		(677,794)	1,057,625
Taxes payable	(72,752)	(98,314)		(103,751)	110,688
Accrued expenses and other current liabilities	367,236	496,265		614,116	97,149
Net cash (used in) provided by operating activities	(3,043,595)	(4,112,965)		(122,071)	3,633,850
Cash flows from investing activities:
Purchase of property, plant and equipment	(58,491)	(79,043)		(75,139)	(3,257)
Loan to related parties	(148)	(200)			(1,130,000)
Other receivable	(3,017,492)	(4,077,692)
Collection from loans to related parties				212,794	887,206
Net cash (used in) provided by investing activities	(3,076,131)	(4,156,935)		137,655	(246,051)
Cash flows from financing activities:
Proceeds from bank borrowings				481,622	1,508,177
Repayment of bank borrowings	(516,006)	(697,306)		(1,993,759)	(2,014,245)
Financing lease liabilities	(8,230)	(11,122)		(16,680)	(16,680)
Proceeds from borrowings from related party	139,756	188,860		468,393	311,011
Repayment of borrowings from related party	(512,772)	(692,935)		(28,934)	(378,049)
Net proceed from initial public offering	7,914,349	10,695,067
Deferred expenditure	(94,294)	(127,426)
Payment for deferred offering cost	927,547	1,253,443		(424,985)	(305,471)
Net cash (used in)/from financing activities	7,850,350	10,608,581		(1,514,343)	(895,257)
Net changes in cash and restricted cash	1,730,624	2,338,681		(1,498,759)	2,492,542
Cash and restricted cash, beginning of year	2,207,864	2,983,600		4,482,359	1,989,817
Cash and restricted cash, end of year	3,938,488	5,322,281	$ 2,207,864	2,983,600	4,482,359
Supplemental disclosure information:
Cash paid for income tax	93,453	126,288		187,658	26,511
Cash paid for interest	10,702	14,463		65,921	75,254
Supplemental disclosure of non-cash investing and financing activities:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities				1,407,124
Cash	2,988,254			2,983,600	4,482,359	$ 4,038,181
Restricted Cash	950,234					1,284,100
Total cash and restricted cash shown in the consolidated statements of cash flows	3,938,488			2,983,600	4,482,359	$ 5,322,281
Related Party [Member]
Changes in operating assets and liabilities:
Operating lease liabilities - related party	$ (532,800)	$ (720,000)		$ (720,000)

Consolidated Balance Sheets	Dec. 31, 2025 USD ($)	Dec. 31, 2025 SGD ($)	Dec. 31, 2024 SGD ($)
Current assets
Cash	$ 2,988,254	$ 4,038,181	$ 2,983,600
Restricted cash	950,234	1,284,100
Accounts receivable, net	2,660,662	3,595,489	2,838,186
Contract assets	7,191,727	9,718,550	3,652,783
Income tax recoverable	172,329	232,877	230,835
Prepayments and other current assets	679,195	917,831	91,485
Total current assets	17,682,241	23,894,920	9,826,889
Non-current assets
Property, plant and equipment	2,597,808	3,510,551	3,597,144
Deferred offering cost			1,253,443
Deffered Expenditure	94,295	127,425
Deferred tax assets, net	225,316	304,482	304,482
Right of use assets, net- related party			711,389
Total non-current assets	2,917,419	3,942,458	5,866,458
Total assets	20,599,660	27,837,378	15,693,347
Current liabilities
Accounts payable	2,251,348	3,042,362	1,265,818
Contract liabilities	2,987,842	4,037,624	805,163
Current portion of bank borrowings	88,065	119,007	696,956
Dividend payable	4,304,783	5,817,274	5,817,274
Financing lease liabilities- current			11,121
Operating lease liabilities- current- related party			711,389
Accrued expenses and other current liabilities	1,292,172	1,746,177	1,249,912
Tax payable	79,361	107,245	203,517
Total current liabilities	11,017,462	14,888,461	11,283,997
Non-current liabilities
Bank borrowings, non-current	7,287	9,847	129,203
Total non-current liabilities	7,287	9,847	129,203
Total liabilities	11,024,749	14,898,308	11,413,200
Commitments and contingencies
Shareholders’ equity
Ordinary shares, 500,000,000 shares authorized; US$0.001 par value, 11,250,000* shares issued and outstanding as of December 31, 2022 and 2023, respectively	13,496	18,238	15,203
Additional paid in capital	9,906,309	13,376,828	2,684,797
Retained earnings	(344,894)	(455,996)	1,580,147
Total shareholders' equity	9,574,911	12,939,070	4,280,147
Total liabilities and shareholders' equity	20,599,660	27,837,378	15,693,347
Related Party [Member]
Current assets
Other receivables	22,348	30,200	30,000
Non-current assets
Right of use assets, net- related party			711,389
Current liabilities
Due to related parties	13,891	18,772	522,847
Operating lease liabilities- current- related party			711,389
Nonrelated Party [Member]
Current assets
Other receivables	$ 3,017,492	$ 4,077,692