Photographed at the Exposição Motas de Portugal, 2017.
Credit: Pachancho
FNB - Fabrica Nacional de Bicycles - was founded by Antonio Pinto de Moura and Ilidio Horacio Rodrigues Vilarinho in 1923. After WWII they began building motorcycles marketed under several brands including Vilar and Perfecta using engines from Pachancho, JAP, Villiers, Cucciolo, HMW, Sachs, DEMM and others.
Vilar models include J125, 125, VM 72 Sport and Turismo, Vilar Cucciolo, Seta, V 98, Motoreta, VM 72 Cross, Junior, V1H 225, Gk 14, Seta HMW, Seta Cucciolo, 50N2 HMW, Pachancho.
Source: Motos de Portugal
