Checked.be
Active
BE 0424.912.953Private limited company
Etablissements FREDERIX
Vilvoordsesteenweg 80 ·1120 Brussel, Belgium· 42 yrs active
Sector: Wholesale trade
(46492)
Conclusion
Etablissements FREDERIX has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €524k and a net result of €36k. Equity is growing by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 87% of 338 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €524k |
| Net result | €36k |
| Better than sector | 87% |
| Active | 42 yrs |
Financial profile
75
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
35
Solvency
100
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1983, 42 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€45k
estimate, not credit advice
Score history
93
2023
86
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 4.82 (≥ 1.5)
+10
Quick ratio
Quick ratio 4.02 (≥ 1.0)
+5
Leverage
Debt/equity 0.23 (< 1.0)
+10
Profitability
ROE 7%
+3
Interest coverage
Interest coverage 6.6× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 28-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~8.1%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 81.6% | 36.5% | |
| Net result | €36k | €44k | |
| Equity | €524k | €279k | |
| Gross operating margin | €135k | €244k | |
| Staff costs | €59k | €174k |
€70k
-19.6%
23-25
€36k
-19.7%
23-25
€47k
-16.2%
23-25
€642k
+6.1%
23-25
€524k
+6.9%
23-25
€431k
+11.4%
23-25
0
-
23-25
€59k
+7.9%
23-25
€18k
-22.3%
23-25
€118k
+2.3%
23-25
€113k
+2.4%
23-25
4.82
+6.8%
23-25
4.02
+9.6%
23-25
81.6%
+0.8%
23-25
0.23
-4.4%
23-25
7.0%
-25.0%
23-25
5.7%
-24.3%
23-25
6.59
-16.6%
23-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema |
| Revenue | - | - | - |
| EBITDA | €70k | €87k | €101k |
| Net profit | €36k | €45k | €56k |
| Cash flow | €47k | €55k | €66k |
| Staff costs | €59k | €55k | €42k |
| Income taxes | €18k | €23k | €27k |
| Dividends | - | - | - |
| Total assets | €642k | €605k | €564k |
| Equity | €524k | €489k | €444k |
| Debt | €118k | €115k | €120k |
| of which ≤ 1y | €113k | €110k | €117k |
| of which > 1y | - | - | - |
| Working capital | €431k | €387k | €329k |
| Employees (FTE) | 0.0 | 0.0 | 0.0 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 4.82 | 4.51 | 3.81 |
| Quick ratio | 4.02 | 3.67 | 3.01 |
| Working capital ratio | 67.1% | 63.9% | 58.3% |
| Solvency | 81.6% | 80.9% | 78.7% |
| Debt / equity | 0.23 | 0.24 | 0.27 |
| Long-term debt ratio | - | - | - |
| Interest coverage | 6.59 | 7.90 | 8.87 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | 5.7% | 7.5% | 10.0% |
| ROE | 7.0% | 9.3% | 12.7% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €642k | €605k | €564k |
| Fixed assets | 21/28 | €98k | €108k | €118k |
| Tangible fixed assets | 22/27 | €94k | €104k | €114k |
| Financial fixed assets | 28 | €4k | €4k | €4k |
| Current assets | 29/58 | €543k | €497k | €446k |
| Stocks & contracts in progress | 3 | €90k | €92k | €94k |
| Amounts receivable within one year | 40/41 | €111k | €124k | €153k |
| Investments | 50/53 | €11k | €100k | - |
| Cash & bank | 54/58 | €331k | €179k | €198k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €642k | €605k | €564k |
| Equity | 10/15 | €524k | €489k | €444k |
| Contributions / capital | 10/11 | €3k | €3k | €3k |
| Reserves | 13 | €318k | €282k | €236k |
| Accumulated profits (losses) | 14 | €198k | €198k | €198k |
| Amounts payable | 17/49 | €118k | €115k | €120k |
| Amounts payable within one year | 42/48 | €113k | €110k | €117k |
| Trade debts payable within one year | 44 | €16k | €6k | €7k |
| Income statement | ||||
| Gross operating margin | 9900 | €135k | €150k | €148k |
| Operating result | 9901 | €60k | €77k | €91k |
| Financial income | 75 | €5k | €2k | €3k |
| Financial charges | 65 | €11k | €11k | €11k |
| Result before taxes | 9903 | €54k | €68k | €83k |
| Income taxes | 67/77 | €18k | €23k | €27k |
| Net result for the period | 9904 | €36k | €45k | €56k |
| Result to be appropriated | 9905 | €36k | €45k | €56k |
Directors & mandates
Current directors & mandates
-
Frederix PatrickAdministrateur statutaireState Gazette act 23474760 (27-12-2023)Current27-12-2023 → present
Legal Structure
| NACE primary | Wholesale trade(46492) |
| Legal form | Private limited company(610) |
| Incorporation | 01-11-1983 |
| Status | Active |
| Postal code | 1120 |
Establishment units
Vilvoordsesteenweg 80, 1120 Brussel
since 19932.031.043.111
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21819B0217/00H003 | Brussels | 3.7 ha | 1 · 2.1 ha | 13.4 m · 4 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €36k ▼19.7%
Net result drops to €36k, the lowest in the series.
31-12
Financial
Equity above €500kEq €524k ▲6.9%
3 profitable years in a row build equity to €524k.
12-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
27-12
State Gazette act
Director changes
v3.2
11-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 42 days late
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 68 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 9 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 2 years ago
2023
27-12-2023 Frederix Patrick appointed as administrateur statutaire
- Frederix Patrick, Administrateur statutaire
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "administrateur statutaire",
"person": {
"rrn": null,
"name": "Frederix Patrick",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0424.912.953",
"name_full": "Etablissements FREDERIX"
}
}Credit advice
Company registry (CBE)
Activities
Wholesale trade4649251475
Names & trade names
| Legal nameFR | Etablissements FREDERIX |
| AbbreviationFR | Ets. FREDERIX |
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