FRAG
ActiveSummary
The computed 12-month bankruptcy probability of FRAG is 2.5% (moderate). For FRAG, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €35,074 and a net result of -€54,269. Equity is shrinking by ~3.8% per year across the filed fiscal years. The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability0▼-100
Solvency63▼-11
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
37.6%
Return on assets
-58.2%
Age of the figures
33 mo
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
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 9 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline29-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-09-2024, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
61 d late
2022
92 d late
2021
40 d early
2020
13 d late
2019
19 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 29 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2023, micro schema
Equity
€35,074▼ 61.6%
2022 · €91,368
Total assets
€93,288▼ 50.3%
2022 · €187,604
Net result
-€54,269
2022 · €60,598
Working capital
€62,922▲ 663%
2022 · €8,246
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
Line20192020202120222023
Operating result€56,614▲ 68.0%-€66,522-€930▲ 98.6%€63,245-€52,792
Net result€48,338▲ 96.1%-€72,239-€3,766▲ 94.8%€60,598-€54,269
Equity€102,632▲ 96.0%€28,571▼ 72.2%€32,795▲ 14.8%€91,368▲ 179%€35,074▼ 61.6%
Total assets€409,859▲ 45.4%€235,678▼ 42.5%€148,416▼ 37.0%€187,604▲ 26.4%€93,288▼ 50.3%
Debt€307,226▲ 33.8%€207,107▼ 32.6%€115,621▼ 44.2%€96,236▼ 16.8%€58,214▼ 39.5%
Working capital-€22,884-€79,002▼ 245%-€64,098▲ 18.9%€8,246€62,922▲ 663%
Staff (FTE)0.3
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €52,792 after €63,245 in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €93,288
Fixed assets
€9,620 ▼ 92.9%
Current assets
€83,668 ▲ 58.5%
Equity and liabilities €93,288
Equity
€35,074 ▼ 61.6%
Debt
€58,214 ▼ 39.5%
Debt's share of the balance-sheet total rises from 51.3% to 62.4%. Equity and debt are lower.
Key figures and ratios
Current ratio
4.03▲
2022 · 1.19
Debt to equity
1.66▲
2022 · 1.05
ROE
-154.7%▼
2022 · 66.3%
ROA
-58.2%▼
2022 · 32.3%
Debt ≤ 1 year
€20,747▼
2022 · €44,537
Debt > 1 year
€37,468▼
2022 · €51,699
Income taxes
-€117▼
2022 · €279
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €29,582 | €84,112 | €3,426 | ▼ 95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €133,086 | €112,520 | €32,166 | €30,984 | - | - |
| Other operating charges640/8 | - | - | €1,824 | €2,011 | €275 | ▼ 86.3% |
| Non-recurring operating charges66A | - | - | €6,296 | €1,210 | €22,776 | ▲ 1,782% |
| Gross operating margin9900 | €201,562 | €48,241 | €39,356 | €97,450 | -€29,741 | ▼ 131% |
| Operating profit (loss)9901 | €56,614 | -€66,522 | -€930 | €63,245 | -€52,792 | ▼ 183% |
| Financial income75/76B | - | - | €2,141 | €2,025 | €2,025 | = |
| Recurring financial income75 | €1,822 | €1,822 | €2,141 | €2,025 | €2,025 | = |
| Financial charges65/66B | - | - | €4,861 | €4,393 | €3,619 | ▼ 17.6% |
| Recurring financial charges65 | €7,703 | €7,729 | €4,861 | €4,393 | €3,619 | ▼ 17.6% |
| Profit (loss) for the period before taxes9903 | €50,733 | -€72,428 | -€3,649 | €60,877 | -€54,386 | ▼ 189% |
| Income taxes67/77 | €2,395 | -€189 | €116 | €279 | -€117 | ▼ 142% |
| Profit (loss) for the period9904 | €48,338 | -€72,239 | -€3,766 | €60,598 | -€54,269 | ▼ 190% |
| Profit (loss) for the period to be appropriated9905 | €48,338 | -€72,239 | -€3,766 | €60,598 | -€54,269 | ▼ 190% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €409,859 | €235,678 | €148,416 | €187,604 | €93,288 | ▼ 50.3% |
| Fixed assets21/28 | €303,194 | €194,027 | €100,966 | €134,821 | €9,620 | ▼ 92.9% |
| Tangible fixed assets22/27 | €303,025 | €193,857 | €100,796 | €134,652 | €9,450 | ▼ 93.0% |
| Plant, machinery and equipment23 | - | - | €8,398 | €1,628 | - | - |
| Furniture and vehicles24 | - | - | €598 | €123,574 | - | - |
| Leasing and similar rights25 | - | - | €91,800 | €9,450 | €9,450 | = |
| Financial fixed assets28 | €170 | €170 | €170 | €170 | €170 | = |
| Current assets29/58 | €106,664 | €41,651 | €47,450 | €52,783 | €83,668 | ▲ 58.5% |
| Stocks and contracts in progress3 | €44,617 | €14,474 | - | - | - | - |
| Amounts receivable within one year40/41 | €60,137 | €26,484 | €47,208 | €52,184 | €78,365 | ▲ 50.2% |
| Trade receivables40 | - | - | €40,807 | €39,801 | €28,553 | ▼ 28.3% |
| Other amounts receivable41 | - | - | €6,401 | €12,384 | €49,813 | ▲ 302% |
| Cash at bank and in hand54/58 | €1,782 | €617 | - | - | €5,303 | - |
| Deferred charges and accrued income490/1 | - | - | €242 | €599 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €409,859 | €235,678 | €148,416 | €187,604 | €93,288 | ▼ 50.3% |
| Equity10/15 | €102,632 | €28,571 | €32,795 | €91,368 | €35,074 | ▼ 61.6% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €80,240 | €8,001 | €4,235 | €64,833 | €10,564 | ▼ 83.7% |
| Investment grants15 | - | - | €8,100 | €6,075 | €4,050 | ▼ 33.3% |
| Amounts payable17/49 | €307,226 | €207,107 | €115,621 | €96,236 | €58,214 | ▼ 39.5% |
| Amounts payable after more than one year17 | €177,678 | €85,454 | €4,073 | €51,699 | €37,468 | ▼ 27.5% |
| Financial debts170/4 | - | - | €4,073 | €51,699 | €37,468 | ▼ 27.5% |
| Amounts payable within one year42/48 | €129,549 | €120,653 | €111,548 | €44,537 | €20,747 | ▼ 53.4% |
| Current portion of amounts payable after more than one year42 | - | - | €79,411 | €23,336 | €14,231 | ▼ 39.0% |
| Financial debts43 | - | - | €4,160 | €14,540 | - | - |
| Credit institutions430/8 | - | - | €4,160 | €14,540 | - | - |
| Trade debts44 | €7,352 | €8,523 | €12,548 | €3,705 | €998 | ▼ 73.1% |
| Suppliers440/4 | - | - | €12,548 | €3,705 | €998 | ▼ 73.1% |
| Taxes, remuneration and social security45 | - | - | €11,057 | €2,590 | €5,517 | ▲ 113% |
| Taxes450/3 | - | - | €11,057 | €2,590 | €5,517 | ▲ 113% |
| Other amounts payable47/48 | - | - | €4,373 | €366 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48,338 | -€72,239 | -€3,766 | €60,598 | -€54,269 | ▼ 190% |
| + Depreciation and write-downs630 | €133,086 | €112,520 | €32,166 | €30,984 | - | - |
| Operating cash flow (approximation) | €181,424 | €40,280 | €28,400 | €91,581 | -€54,269 | ▼ 159% |
| Investment in fixed assets (approximation) | - | -€3,352 | €60,895 | -€64,839 | €125,202 | ▲ 293% |
| Change in cash | - | -€1,166 | - | - | - | - |
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
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Liquidity triplescurrent ratio 4.03
Current ratio from 1.19 to 4.03; short-term debt falls from €44,537 to €20,747.
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
31-12
Financial
Back to profitnet €60,598
Net result €60,598 after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.19
Current ratio from 0.43 to 1.19; short-term debt falls from €111,548 to €44,537.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
2020
31-12
Financial
Weakest financial yearnet -€72,239
Net result drops to -€72,239, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
31-12
Financial
Equity above €100,000Eq €102,632 ▲96%
2 profitable years in a row build equity to €102,632.
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
2016
12-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 43 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Seneffe · 1 establishment unit since 2014
Ground area
4,148 m²
Building footprint
272 m²
Parcel 52063A0879/00H000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Chemin du Château de Buisseret 22, 7180 Seneffe
since 20142.235.024.906
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52063A0879/00H000 ProtectedSite or landscape |
Wallonia | 4,148 m² | 1 · 272 m² | - |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded26-09-2014
Fiscal year end31-12
Contact
Phone
0477288015Seneffe
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.