FRADO
ActiveSummary
FRADO has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €132k and a net result of €8k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 41% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+5
Solvency47▲+2
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.1 in 2024; short-term debt: 43.1% and cash: 3.9% of total assets), and 78% of the assets are financed with debt.
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Signals
Four 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
22%
Return on assets
1.4%
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
2 d late
2023
8 d early
2022
11 d early
2021
10 d early
2020
29 d early
2019
25 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, abbreviated schema
Equity
€132k▲ 6.6%
2024 · €124k
Total assets
€600k▼ 5.0%
2024 · €631k
Net result
€8k▲ 207%
2024 · €3k
Working capital
€-233k▲ 1.0%
2024 · €-235k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-1k€15k€12k▼ 20.3%€14k▲ 18.4%€23k▲ 67.0%
Net result€-13k€3k€-660€3k€8k▲ 207%
Equity€119k▼ 10.1%€122k▲ 2.3%€121k▼ 0.5%€124k▲ 2.2%€132k▲ 6.6%
Total assets€484k▲ 10.7%€680k▲ 40.5%€645k▼ 5.1%€631k▼ 2.2%€600k▼ 5.0%
Debt€362k▲ 20.2%€556k▲ 53.5%€522k▼ 6.1%€506k▼ 3.1%€467k▼ 7.7%
Working capital€-183k▼ 75.4%€-117k▲ 35.8%€-202k▼ 72.3%€-235k▼ 16.3%€-233k▲ 1.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 67% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €600k
Fixed assets
€574k ▼ 5.2%
Current assets
€26k ▲ 0.2%
Equity and liabilities €600k
Equity
€132k ▲ 6.6%
Provisions
€477 ▼ 50.0%
Debt
€467k ▼ 7.7%
Debt's share of the balance-sheet total falls from 80.2% to 77.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€54k▲
2024 · €44k
Cash flow
€40k▲
2024 · €33k
Current ratio
0.10▲
2024 · 0.10
Debt to equity
3.53▼
2024 · 4.08
ROE
6.2%▲
2024 · 2.1%
ROA
1.4%▲
2024 · 0.4%
Interest coverage
4.44▲
2024 · 3.94
Debt ≤ 1 year
€258k▼
2024 · €260k
Debt > 1 year
€208k▼
2024 · €244k
Income taxes
€3k▲
2024 · €359
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35k | €23k | €28k | €30k | €31k | ▲ 3.0% |
| Other operating charges640/8 | €4k | €3k | €4k | €4k | €5k | ▲ 29.8% |
| Gross operating margin9900 | €37k | €41k | €43k | €48k | €59k | ▲ 23.5% |
| Operating profit (loss)9901 | €-1k | €15k | €12k | €14k | €23k | ▲ 67.0% |
| Financial income75/76B | €2 | - | €1 | €2 | - | - |
| Recurring financial income75 | €2 | - | €1 | €2 | - | - |
| Financial charges65/66B | €13k | €12k | €13k | €11k | €12k | ▲ 9.0% |
| Recurring financial charges65 | €13k | €12k | €13k | €11k | €12k | ▲ 9.0% |
| Profit (loss) for the period before taxes9903 | €-14k | €3k | €-1k | €3k | €11k | ▲ 322% |
| Transfer from deferred taxes780 | €477 | €477 | €477 | €477 | €477 | = |
| Income taxes67/77 | €6 | €371 | €27 | €359 | €3k | ▲ 748% |
| Profit (loss) for the period9904 | €-13k | €3k | €-660 | €3k | €8k | ▲ 207% |
| Transfer from tax-exempt reserves789 | €926 | €926 | €926 | €926 | €926 | = |
| Profit (loss) for the period to be appropriated9905 | €-13k | €4k | €266 | €4k | €9k | ▲ 154% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €484k | €680k | €645k | €631k | €600k | ▼ 5.0% |
| Fixed assets21/28 | €466k | €567k | €605k | €606k | €574k | ▼ 5.2% |
| Tangible fixed assets22/27 | €466k | €567k | €605k | €606k | €574k | ▼ 5.2% |
| Land and buildings22 | €321k | €429k | €475k | €482k | €457k | ▼ 5.1% |
| Other tangible fixed assets26 | €145k | €138k | €131k | €124k | €117k | ▼ 5.4% |
| Current assets29/58 | €18k | €113k | €40k | €26k | €26k | ▲ 0.2% |
| Amounts receivable within one year40/41 | €3k | €28k | €2k | €2k | €2k | ▲ 11.9% |
| Trade receivables40 | €1k | - | €642 | €2k | €2k | ▲ 12.0% |
| Other amounts receivable41 | €2k | €28k | €2k | €26 | €26 | = |
| Cash at bank and in hand54/58 | €15k | €85k | €38k | €23k | €23k | ▼ 0.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €484k | €680k | €645k | €631k | €600k | ▼ 5.0% |
| Equity10/15 | €119k | €122k | €121k | €124k | €132k | ▲ 6.6% |
| Contributions10/11 | €71k | €71k | €71k | €71k | €71k | = |
| Reserves13 | €49k | €51k | €51k | €53k | €62k | ▲ 15.3% |
| Non-distributable reserves130/1 | €7k | - | - | - | - | - |
| Reserves not available under the articles1311 | €7k | - | - | - | - | - |
| Tax-exempt reserves132 | €5k | €4k | €3k | €2k | €926 | ▼ 50.0% |
| Distributable reserves133 | €37k | €48k | €48k | €52k | €61k | ▲ 17.6% |
| Provisions and deferred taxes16 | €2k | €2k | €1k | €954 | €477 | ▼ 50.0% |
| Deferred taxes168 | €2k | €2k | €1k | €954 | €477 | ▼ 50.0% |
| Amounts payable17/49 | €362k | €556k | €522k | €506k | €467k | ▼ 7.7% |
| Amounts payable after more than one year17 | €159k | €326k | €280k | €244k | €208k | ▼ 15.0% |
| Financial debts170/4 | €159k | €326k | €280k | €244k | €208k | ▼ 15.0% |
| Amounts payable within one year42/48 | €201k | €230k | €242k | €260k | €258k | ▼ 0.9% |
| Current portion of amounts payable after more than one year42 | €23k | €13k | €33k | €37k | €38k | ▲ 2.2% |
| Trade debts44 | - | €20k | €11k | - | €499 | - |
| Suppliers440/4 | - | €20k | €11k | - | €499 | - |
| Taxes, remuneration and social security45 | €1k | €838 | €910 | €2k | €5k | ▲ 193% |
| Taxes450/3 | €1k | €838 | €910 | €2k | €5k | ▲ 193% |
| Other amounts payable47/48 | €176k | €196k | €197k | €222k | €215k | ▼ 3.1% |
| Accrued charges and deferred income492/3 | €2k | - | - | €1k | €1k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-13k | €3k | €-660 | €3k | €8k | ▲ 207% |
| + Depreciation and write-downs630 | €35k | €23k | €28k | €30k | €31k | ▲ 3.0% |
| Operating cash flow (approximation) | €21k | €26k | €27k | €33k | €40k | ▲ 19.4% |
| Investment in fixed assets (approximation) | - | €-124k | €-66k | €-31k | €0 | ▲ 100% |
| Change in cash | - | €70k | €-47k | €-15k | €-200 | ▲ 98.6% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €8k ▲207%
Operating result €23k, net result €8k, both a record.
02-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 2 days late
2024
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
21-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Gent
Ground area
2,531 m²
Building footprint
213 m²
Volume, LiDAR
1,569 m³
Parcel 44082B0354/00E000, Flanders · tallest building 10.4 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44082B0354/00E000 | Flanders | 2,531 m² | 1 · 213 m² | 10.4 m · 3 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.
Similar companies · same sector, comparable size
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CURINGERPOORT
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Of 12,041 companies in sector 68203 we hold annual accounts for 5,994. 3,994 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
Founded10-05-2004
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
69201Certified accountants and tax accountants
Contact
E-mail
frank@fdaccounting.be
Phone
0032486693378
Scores and ratios are computed by Checked and are not a credit decision.