Six of the last ten came late. The 2023 accounts came latest: 56 days after the end of the period.
Checked score
Checked score
The higher the Checked score (0 to 100), the smaller the chance that the company goes bankrupt within twelve months. That chance sets the band, from Critical to Excellent, and within the band how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
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Bankruptcy probability within 12 months
Bankruptcy probability
It is the chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. At 0.2%, about 2 in 1,000 comparable companies go bankrupt. The higher it is, the shorter the payment term to agree.
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Financial strength
Financial strength
Financial strength measures the balance sheet and the results with three figures out of 100 from the latest annual accounts: solvency, liquidity and profitability. It does not directly set the Checked score's band. How the company does against its sector peers on these and on growth does count for its place within the band.
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Score breakdown
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Comparable companies, two years later
In July 2024, 12,344 companies had the same profile as FRADAX has now. Each dot stands for 31 companies, two years later.
90.1%
were still trading
8.7%
stopped another way
0.7%
went bankrupt
Micro
20 years or older
solvency 30% or more
a small loss
Another 0.5% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
The companies in ten equal groups, from the lowest to the highest expected share
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%
0.9%
6
1.3%
1.5%
7
1.6%
1.8%
8
1.8%
1.8%
9
2.9%
3.1%
10
5.6%
6.1%
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,344 companies, not a prediction for FRADAX. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
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Amendment of the articles · Resignations & appointments
Reappointments: Name hiddenVisible after signing in, Hidden nameVisible after signing in and Name after signing inVisible after signing in · Legal-form conversion: from cooperative company to public limited company · Name hiddenVisible after signing in holds 500 shares · General meeting of 14-12-2023 · Gazette deed
1 director resigning, 3 reappointments
Resignation: Hidden nameVisible after signing in · Reappointments: Name after signing inVisible after signing in, Name hiddenVisible after signing in and Hidden nameVisible after signing in · “La société a pour objet social l'investissement et la gestion de son patrimoine mobilier et immobilier; Elle…” (deed in French) · General meeting of 16-09-2014 · Gazette deed