FRABEL
ActiveThe file of FRABEL contains 1 historical bankruptcy publication, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 1.3% (low). The 2025 annual accounts show equity of €77,839 and a net result of €19,520. Equity is growing by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 48% of 18537 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▲+23
Solvency57▼-27
Growth73▲+2
Track record85
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days only on tighter terms
Liquidity ample (current ratio 1.93 against 2.38 in 2024; short-term debt: 37.9% and cash: 18% of total assets), but 68.3% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
31.7%
Return on assets
8%
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 03-06-2026, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
58 d early
2024
6 d late
2023
21 d early
2022
31 d late
2021
5 d late
2020
109 d early
2019
256 d late
← 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 16 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€969,499▲ 21.5%
2024 · €797,900
EBIT margin
5.0%▲ 3.2pp
2024 · 1.7%
Net result
€19,520▲ 771%
2024 · €2,241
Working capital
€86,706▲ 54.1%
2024 · €56,268
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€503,522▼ 4.6%€552,679▲ 9.8%€797,900€969,499▲ 21.5%
Operating result-€2,124€6,734€11,516▲ 71.0%€13,780▲ 19.7%€48,181▲ 250%
Net result-€3,966below the sector's middle half€2,470within the sector's middle half€1,338within the sector's middle half▼ 45.8%€2,241within the sector's middle half▲ 67.5%€19,520within the sector's middle half▲ 771%
EBIT margin-0.4%▼ 11.5pp1.2%▲ 1.6pp1.7%5.0%▲ 3.2pp
Equity€52,271within the sector's middle half▼ 7.1%€54,740within the sector's middle half▲ 4.7%€56,078within the sector's middle half▲ 2.4%€58,319within the sector's middle half▲ 4.0%€77,839within the sector's middle half▲ 33.5%
Total assets€119,368within the sector's middle half▼ 11.8%€80,641within the sector's middle half▼ 32.4%€95,438within the sector's middle half▲ 18.3%€99,140within the sector's middle half▲ 3.9%€245,315within the sector's middle half▲ 147%
Debt€67,097▼ 15.2%€25,901▼ 61.4%€39,360▲ 52.0%€40,820▲ 3.7%€167,477▲ 310%
Working capital€59,996▼ 6.2%€50,117▼ 16.5%€53,723▲ 7.2%€56,268▲ 4.7%€86,706▲ 54.1%
Solvency43.8%within the sector's middle half▲ 2.3pp67.9%above the sector's middle half▲ 24.1pp58.8%within the sector's middle half▼ 9.1pp58.8%within the sector's middle half▲ 0.1pp31.7%within the sector's middle half▼ 27.1pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 250% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €245,315
Fixed assets
€65,740 ▲ 3,106%
Current assets
€179,576 ▲ 85.0%
Equity and liabilities €245,315
Equity
€77,839 ▲ 33.5%
Debt
€167,477 ▲ 310%
Debt's share of the balance-sheet total rises from 41.2% to 68.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€64,910▲
2024 · €14,085
Cash flow
€36,249▲
2024 · €2,546
Current ratio
1.93▼
2024 · 2.38
Quick ratio
1.06▲
2024 · 0.30
Debt to equity
2.15▲
2024 · 0.70
ROE
25.1%▲
2024 · 3.8%
ROA
8.0%▲
2024 · 2.3%
Interest coverage
3.39▲
2024 · 1.33
Debt ≤ 1 year
€92,869▲
2024 · €40,820
Debt > 1 year
€74,608
Income taxes
€9,492▲
2024 · €960
Staff costs
€33,471▲
2024 · €32,410
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 31,324 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €503,522 | €552,679 | - | €797,900 | €969,499 | ▲ 21.5% |
| Goods, raw materials, services and sundry goods60/61 | €480,165 | €509,553 | - | €755,666 | €884,281 | ▲ 17.0% |
| Remuneration, social security and pensions62 | €22,496 | €27,469 | €37,861 | €32,410 | €33,471 | ▲ 3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,653 | €3,653 | €3,792 | €305 | €16,729 | ▲ 5,385% |
| Other operating charges640/8 | €2,502 | €8,470 | €6,089 | €437 | €7,562 | ▲ 1,629% |
| Non-recurring operating charges66A | - | - | - | - | €400 | - |
| Gross operating margin9900 | €26,528 | €46,326 | €59,258 | €46,933 | €106,343 | ▲ 127% |
| Operating profit (loss)9901 | -€2,124 | €6,734 | €11,516 | €13,780 | €48,181 | ▲ 250% |
| Financial income75/76B | €3,422 | - | €2 | - | €1 | - |
| Recurring financial income75 | €3,422 | - | €2 | - | €1 | - |
| Financial charges65/66B | €5,264 | €3,647 | €9,846 | €10,580 | €19,171 | ▲ 81.2% |
| Recurring financial charges65 | €5,264 | €3,647 | €9,846 | €10,580 | €19,171 | ▲ 81.2% |
| Profit (loss) for the period before taxes9903 | -€3,966 | €3,087 | €1,673 | €3,200 | €29,011 | ▲ 807% |
| Income taxes67/77 | - | €617 | €335 | €960 | €9,492 | ▲ 889% |
| Profit (loss) for the period9904 | -€3,966 | €2,470 | €1,338 | €2,241 | €19,520 | ▲ 771% |
| Profit (loss) for the period to be appropriated9905 | -€3,966 | €2,470 | €1,338 | €2,241 | €19,520 | ▲ 771% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119,368 | €80,641 | €95,438 | €99,140 | €245,315 | ▲ 147% |
| Fixed assets21/28 | €8,276 | €4,623 | €2,356 | €2,051 | €65,740 | ▲ 3,106% |
| Tangible fixed assets22/27 | €7,306 | €3,653 | €1,386 | €1,081 | €64,770 | ▲ 5,893% |
| Plant, machinery and equipment23 | - | - | €1,386 | €1,081 | €471 | ▼ 56.4% |
| Leasing and similar rights25 | €7,306 | €3,653 | - | - | €64,299 | - |
| Financial fixed assets28 | €970 | €970 | €970 | €970 | €970 | = |
| Current assets29/58 | €111,092 | €76,018 | €93,083 | €97,089 | €179,576 | ▲ 85.0% |
| Stocks and contracts in progress3 | €70,882 | €66,856 | €79,231 | €84,996 | €81,347 | ▼ 4.3% |
| Stocks30/36 | €70,882 | €66,856 | €79,231 | €84,996 | €81,347 | ▼ 4.3% |
| Amounts receivable within one year40/41 | €38,396 | - | - | - | €54,000 | - |
| Other amounts receivable41 | €38,396 | - | - | - | €54,000 | - |
| Cash at bank and in hand54/58 | €622 | €9,163 | €13,851 | €12,093 | €44,228 | ▲ 266% |
| Deferred charges and accrued income490/1 | €1,192 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119,368 | €80,641 | €95,438 | €99,140 | €245,315 | ▲ 147% |
| Equity10/15 | €52,271 | €54,740 | €56,078 | €58,319 | €77,839 | ▲ 33.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €32,421 | €32,421 | €32,421 | €32,421 | €32,421 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €30,561 | €30,561 | €30,561 | €30,561 | €30,561 | = |
| Profit (loss) carried forward14 | €1,249 | €3,719 | €5,057 | €7,298 | €26,817 | ▲ 267% |
| Amounts payable17/49 | €67,097 | €25,901 | €39,360 | €40,820 | €167,477 | ▲ 310% |
| Amounts payable after more than one year17 | €16,001 | - | - | - | €74,608 | - |
| Financial debts170/4 | €16,001 | - | - | - | €74,608 | - |
| Amounts payable within one year42/48 | €51,096 | €25,901 | €39,360 | €40,820 | €92,869 | ▲ 128% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €10,661 | - |
| Financial debts43 | €24,848 | - | - | - | €7,304 | - |
| Credit institutions430/8 | €24,848 | - | - | - | €7,304 | - |
| Trade debts44 | €32 | €7,347 | €8,143 | €900 | €26,406 | ▲ 2,834% |
| Suppliers440/4 | €32 | €7,347 | €8,143 | €900 | €26,406 | ▲ 2,834% |
| Taxes, remuneration and social security45 | €24,889 | €15,778 | €28,441 | €32,525 | €45,479 | ▲ 39.8% |
| Taxes450/3 | €9,724 | €13,650 | €17,300 | €21,652 | €35,784 | ▲ 65.3% |
| Remuneration and social security454/9 | €15,165 | €2,128 | €11,141 | €10,873 | €9,694 | ▼ 10.8% |
| Other amounts payable47/48 | €1,328 | €2,776 | €2,776 | €7,396 | €3,020 | ▼ 59.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,966 | €2,470 | €1,338 | €2,241 | €19,520 | ▲ 771% |
| + Depreciation and write-downs630 | €3,653 | €3,653 | €3,792 | €305 | €16,729 | ▲ 5,385% |
| Operating cash flow (approximation) | -€313 | €6,122 | €5,130 | €2,546 | €36,249 | ▲ 1,324% |
| Investment in fixed assets (approximation) | - | €0 | -€1,525 | €0 | -€80,419 | - |
| Change in cash | - | €8,540 | €4,689 | -€1,759 | €32,136 | ▲ 1,927% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
06-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 6 days late
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €2,470
Net result €2,470 after one loss-making year.
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2021
04-05
Bankruptcy
Bankruptcy reversal
Tribunal de l’entreprise francophone de Bruxelles · event 19-04-2021
13-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
13-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 256 days late
2020
31-12
Financial
Highest result since 2018net €29,311 ▲3,377%
Operating result €58,725, net result €29,311, both a record.
2019
31-12
Financial
Back to profitnet €843
Net result €843 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
13-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 105 days late
2017
09-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 131 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Oudergem · 2 establishment units since 2001
Ground area
244 m²
Building footprint
244 m²
Volume, LiDAR
2,580 m³
2 parcels, Brussels · tallest building 14.4 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
Waverse steenweg 1322A, 1160 Oudergem
since 20012.098.269.455
FRABEL
since 20092.175.661.005
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21002A0136/00W016 | Brussels | 153 m² | 1 · 154 m² | 14.4 m · 4 fl. |
| 21002A0136/00W022 | Brussels | 90 m² | 1 · 90 m² | 11.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesOudergem2.098.269.455
Oudergem2.175.661.005
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,850. 4,673 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded27-10-2000
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473143630
Also
9925:BE0473143630
Registered
30-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.