F.R.A.
ActiveSummary
F.R.A. has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €637,137 and a net result of €40,930. Equity is growing by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 8871 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
What they do
Business and other management consultancy
NACE 70200Business consulting NACE 70220NACE 74142
#9 oldest company in Halle, Professional and technical services sector1 site
How big
€646,323total assets 2025
- Equity
- €637,137
- Profit
- €40,930
Turnover not published (abridged schema)
Who decides
Accounts on time0 of 7 deeds read
Why 87+ Lower-failure-rate sector+ Long track record+ Annual accounts: healthy financial profile+ Lower-risk legal formLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55,000 at 30 days acceptable
Liquidity ample (current ratio 59.62 against 41.69 in 2024; short-term debt: 1.4% and cash: 12% of total assets), and 1.4% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
98.6%
Return on assets
6.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
8 d late
2023
2 d early
2022
13 d early
2021
9 d early
2020
3 d early
2019
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 30 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Annual accounts filedfiscal year 2024 · micro…
- Liquidity triplescurrent ratio 41.69
Financials
Fiscal year 2025Total assets €646,323Profit €40,930Solvency 98.6%Liquidity 59.62
Total assets
€646,323▲ 6.4%
2018 - 2025
Net result
€40,930▲ 13.3%
2018 - 2025
Equity
€637,137▲ 6.9%
2018 - 2025
Solvency
98.6%▲ 0.4pp
2018 - 2025
Financials · fiscal year 2025, abbreviated schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€128,905▲ 3.7%€133,839▲ 3.8%€2,267▼ 98.3%-€14,383€26,556
Net result€128,531above the sector's middle half▲ 3.5%€133,319above the sector's middle half▲ 3.7%€15,679within the sector's middle half▼ 88.2%€36,110within the sector's middle half▲ 130%€40,930within the sector's middle half▲ 13.3%
Equity€411,087above the sector's middle half▲ 45.5%€544,417above the sector's middle half▲ 32.4%€560,097above the sector's middle half▲ 2.9%€596,207above the sector's middle half▲ 6.4%€637,137within the sector's middle half▲ 6.9%
Total assets€472,670within the sector's middle half▲ 13.1%€599,886above the sector's middle half▲ 26.9%€583,747above the sector's middle half▼ 2.7%€607,549above the sector's middle half▲ 4.1%€646,323within the sector's middle half▲ 6.4%
Debt€61,583▼ 54.5%€55,469▼ 9.9%€23,650▼ 57.4%€11,343▼ 52.0%€9,186▼ 19.0%
Working capital€350,485above the sector's middle half▲ 57.8%€456,281above the sector's middle half▲ 30.2%€369,998above the sector's middle half▼ 18.9%€461,557above the sector's middle half▲ 24.7%€538,539above the sector's middle half▲ 16.7%
Solvency87.0%above the sector's middle half▲ 19.4pp90.8%above the sector's middle half▲ 3.8pp95.9%above the sector's middle half▲ 5.2pp98.1%above the sector's middle half▲ 2.2pp98.6%above the sector's middle half▲ 0.4pp
Current ratio10.86above the sector's middle half▲ 7.4810.96above the sector's middle half▲ 0.0916.64above the sector's middle half▲ 5.6941.69above the sector's middle half▲ 25.0559.62above the sector's middle half▲ 17.93
Return on assets (ROA)27.2%above the sector's middle half▼ 2.5pp22.2%within the sector's middle half▼ 5.0pp2.7%within the sector's middle half▼ 19.5pp5.9%within the sector's middle half▲ 3.3pp6.3%within the sector's middle half▲ 0.4pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €26,556 after a loss of €14,383 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €646,323
Fixed assets
€98,598 ▼ 26.8%
Current assets
€547,726 ▲ 15.8%
Equity and liabilities €646,323
Equity
€637,137 ▲ 6.9%
Debt
€9,186 ▼ 19.0%
Debt's share of the balance-sheet total falls from 1.9% to 1.4%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
EBITDA
€71,522▲
2024 · €40,064
Cash flow
€85,896▼
2024 · €90,557
Debt to equity
0.01▼
2024 · 0.02
ROE
6.4%▲
2024 · 6.1%
Interest coverage
28.76▼
2024 · 61.67
Debt ≤ 1 year
€9,186▼
2024 · €11,343
Income taxes
€564▼
2024 · €605
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €181 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,244 | €25,048 | €51,290 | €54,447 | €44,966 | ▼ 17.4% |
| Other operating charges640/8 | €402 | €592 | €3,173 | €624 | €960 | ▲ 53.9% |
| Non-recurring operating charges66A | - | €636 | €0 | €7,583 | €0 | ▼ 100% |
| Gross operating margin9900 | €155,551 | €160,116 | €56,729 | €48,271 | €72,481 | ▲ 50.2% |
| Operating profit (loss)9901 | €128,905 | €133,839 | €2,267 | -€14,383 | €26,556 | ▲ 285% |
| Financial income75/76B | €817 | €804 | €14,255 | €51,748 | €17,425 | ▼ 66.3% |
| Recurring financial income75 | €817 | €804 | €14,255 | €51,748 | €17,425 | ▼ 66.3% |
| Financial charges65/66B | €762 | €833 | €184 | €650 | €2,487 | ▲ 283% |
| Recurring financial charges65 | €762 | €833 | €184 | €650 | €2,487 | ▲ 283% |
| Profit (loss) for the period before taxes9903 | €128,960 | €133,810 | €16,338 | €36,715 | €41,494 | ▲ 13.0% |
| Income taxes67/77 | €430 | €491 | €659 | €605 | €564 | ▼ 6.8% |
| Profit (loss) for the period9904 | €128,531 | €133,319 | €15,679 | €36,110 | €40,930 | ▲ 13.3% |
| Profit (loss) for the period to be appropriated9905 | €128,531 | €133,319 | €15,679 | €36,110 | €40,930 | ▲ 13.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.5m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 6.4% |
| Fixed assets21/28 | €0.09m | €0.1m | €0.2m | €0.1m | €0.1m | ▼ 26.8% |
| Tangible fixed assets22/27 | €0.09m | €0.1m | €0.2m | €0.1m | €0.1m | ▼ 26.8% |
| Plant, machinery and equipment23 | €0.01m | €0.009m | €0.008m | €0.006m | €0.005m | ▼ 23.2% |
| Furniture and vehicles24 | €0.08m | €0.08m | €0.2m | €0.1m | €0.08m | ▼ 30.4% |
| Other tangible fixed assets26 | - | €0.007m | €0.01m | €0.01m | €0.01m | = |
| Current assets29/58 | €0.4m | €0.5m | €0.4m | €0.5m | €0.5m | ▲ 15.8% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €0.3m | = |
| Trade receivables290 | - | - | - | €0.3m | €0.3m | = |
| Amounts receivable within one year40/41 | €0.04m | €0.05m | €0.04m | €0.02m | €0.03m | ▲ 52.7% |
| Trade receivables40 | €0.04m | €0.05m | €0.03m | €0.02m | €0.02m | ▲ 36.4% |
| Other amounts receivable41 | €0.005m | €350 | €0.003m | €0.003m | €0.007m | ▲ 155% |
| Current investments50/53 | €0.08m | €0.3m | €0.3m | €0.002m | €0.1m | ▲ 5,093% |
| Cash at bank and in hand54/58 | €0.3m | €0.2m | €0.06m | €0.1m | €0.08m | ▼ 38.4% |
| Deferred charges and accrued income490/1 | €0.003m | €0.003m | €0.001m | €0.01m | €0.02m | ▲ 87.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.5m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 6.4% |
| Equity10/15 | €0.4m | €0.5m | €0.6m | €0.6m | €0.6m | ▲ 6.9% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | -€0.6m | -€0.5m | -€0.5m | -€0.4m | -€0.4m | ▲ 9.5% |
| Amounts payable17/49 | €0.06m | €0.06m | €0.02m | €0.01m | €0.009m | ▼ 19.0% |
| Amounts payable after more than one year17 | €0.03m | €0.01m | €0 | - | - | - |
| Financial debts170/4 | €0.03m | €0.01m | €0 | - | - | - |
| Amounts payable within one year42/48 | €0.04m | €0.05m | €0.02m | €0.01m | €0.009m | ▼ 19.0% |
| Current portion of amounts payable after more than one year42 | €0.02m | €0.02m | €0.009m | €0 | - | - |
| Financial debts43 | - | - | - | €20 | €0.001m | ▲ 3,393% |
| Credit institutions430/8 | - | - | - | €20 | €0.001m | ▲ 3,393% |
| Trade debts44 | €0.006m | €0.01m | €0.003m | €0.001m | €0.002m | ▲ 101% |
| Suppliers440/4 | €0.006m | €0.01m | €0.003m | €0.001m | €0.002m | ▲ 101% |
| Taxes, remuneration and social security45 | €0.01m | €0.02m | €0.01m | €0.01m | €0.006m | ▼ 41.1% |
| Taxes450/3 | €0.01m | €0.02m | €0.01m | €0.01m | €0.006m | ▼ 41.1% |
| Other amounts payable47/48 | - | - | - | €159 | €0.001m | ▲ 326% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €128,531 | €133,319 | €15,679 | €36,110 | €40,930 | ▲ 13.3% |
| + Depreciation and write-downs630 | €26,244 | €25,048 | €51,290 | €54,447 | €44,966 | ▼ 17.4% |
| Operating cash flow (approximation) | €154,774 | €158,367 | €66,969 | €90,557 | €85,896 | ▼ 5.1% |
| Investment in fixed assets (approximation) | - | -€36,183 | -€143,608 | €1,001 | -€8,913 | ▼ 991% |
| Change in cash | - | -€92,784 | -€112,710 | €68,471 | -€48,148 | ▼ 170% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
PROCEDERE MANAGEMENT
BE 0808.109.968
Lievegem · Eq €637,170
FGL-Projects
BE 0897.920.486
Hooglede · Eq €637,214
ALM PROJECTS
BE 0876.605.133
Kasterlee · Eq €637,217
GOSTAR HOLDING
BE 0808.678.112
Ranst · Eq €637,015
CLIMACT
BE 0892.272.118
Ottignies-Louvain-la-Neuve · Eq €637,262
Of 82,601 companies in this sector we hold annual accounts for 52,629. 32,533 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
16 eventsLatest 31-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 41.69
Current ratio from 16.64 to 41.69; short-term debt falls from €23,650 to €11,343.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €15,679 ▼88.2%
Net result drops to €15,679, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €133,319 ▲3.7%
Operating result €133,839, net result €133,319, both a record.
31-12
Financial
Equity above €500,000Eq €544,417 ▲32.4%
5 profitable years in a row build equity to €544,417.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 10.86
Current ratio from 3.39 to 10.86; short-term debt falls from €93,070 to €35,539.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200,000Eq €282,557 ▲78.4%
3 profitable years in a row build equity to €282,557.
Show earlier events
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Support & recognitions
1 register with a recognitionLEI issued
LEI
active
967600A5DWM401F33B50
Recognitions · licences · registrations
Legal Entity Identifier
967600A5DWM401F33B50
Company details
Public limited company · founded 17-07-1991Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPublic limited company
Founded17-07-1991
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444803990
Also
9925:BE0444803990
Registered
12-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Halle · 1 establishment unit since 1995
Ground area
1,536 m²
Building footprint
187 m²
Volume, LiDAR
784 m³
Parcel 23043E0081/00V000, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
F.R.A. - Consultants
since 1995unit no. 2.054.634.796
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23043E0081/00V000 | Flanders | 1,536 m² | 1 · 187 m² | 7.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.