FN Gents Chainless Type C55, manufactured by Fabrique National d’Armee de Guerre (later known as FN Herstal) in Liège. FN started to make shaft- and chain-driven bicycles as early as 1899. In 1900 they experimented with a clip-on engine, and in 1901 their first motorcycle was built (see: FN 28)
"F.N was the market leader in chainless bicycles in Great Britain. The Model C55 was available for £20 and exhibited at the 1919 Olympia Show as ‘the only chainless bicycle marketed in this country.’" (www.oldbike eu)