Equity
€132,873 ▲ 5.4%
FRAHOREX has made a profit without a break since 2015.
FRAHOREX
Lifetime
16 annual accounts with figures on one time axispeak €87,370 (2022)
€44,063▲ 10.9%
lowest -€29,342 (2014)
€6,843▼ 49.0%
peak €158,625 (2020)
€132,873▲ 5.4%
€38,433▲ 427%
Board2 names since 2021
1 directorVan de Gracht Tom
Documentsfilings and deeds
22-09-202653 days late
2025micro format
Result from €13,415 to €6,843Debts from €7,287 to €38,433Cash from €23,791 to €38,330
Key points
from the 2025 annual accountsTurnover
≈ €180,000 estimated
The micro format states no turnover.
Investments
€52,253 1.8 × depreciation
Green is investment, beige is depreciation. Machinery stands 80.1% higher than in 2024.
Liquidity
3.88 was 7.91 in 2024
Short-term debts rose from €7,287 to €19,611.
Filings
16 annual accounts since 2010
Ten of the last ten came late. The 2019 accounts came latest: 74 days after the end of the period.
Position in the sector
77.6%
Higher solvency than 80% of companies in warehousing and transport support. Sector median 42.6% · 1,191 companies.
Checked score
85
Excellent
Financially stronger than 68% of micro companies in warehousing and transport support (NACE 52)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.9% across 2,306 companies (NACE 52, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.8%▼ -0.1 percentage points vs 12-2024
02-2025: 0.8%● unchanged vs 01-2025
03-2025: 0.8%● unchanged vs 02-2025
04-2025: 0.7%▼ -0.1 percentage points vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.6%▼ -0.1 percentage points vs 05-2025
07-2025: 0.6%● unchanged vs 06-2025
08-2025: 0.9%▲ +0.3 percentage points vs 07-2025
09-2025: 1.0%▲ +0.1 percentage points vs 08-2025highest value
10-2025: 0.5%▼ -0.5 percentage points vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.1 percentage points vs 07-2026
09-2026: 0.7%▲ +0.1 percentage points vs 08-2026
10-2026: 0.5%▼ -0.2 percentage points vs 09-2026lowest value
11-2026: 0.5%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 53 days late; 3 of the last 3 accounts late
Sector: Warehousing and support activities for transportation (NACE 52)
Size: total assets €171,306
lowers risk
Liquidity: current ratio 3.88, cash €38,330
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 52, micro). It does better than 89% of them on solvency, 80% on liquidity, 54% on profitability and 50% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 10,904 companies had the same profile as FRAHOREX has now. Each dot stands for 28 companies, two years later.
95.2%
were still trading
4.0%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of FRAHOREX itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,447 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.
| 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 10,904 companies, not a prediction for FRAHOREX. 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.
Credit verdict
Credit of up to €11,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.88 (7.91 in 2024), above the usual 1.5. Short-term debt is 11.4% and cash 22.4% of total assets. 22.4% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 53 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-09-2026, 53 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
53 days late
2024
57 days late
2023
42 days late
2022
38 days late
2021
50 days late
2020
60 days late
2019
74 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 53 days after the deadline. In the sector (NACE 52), the median for financial year 2024 was 8 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 19 September (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
VD
Van de Gracht Tom
Director
- VAN dE GRACHT Thomas Robert Yolande 90 sharesdeed of 12-01-2024
- CLAUS Régine Elza Godard 10 sharesdeed of 12-01-2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0820129753
Purpose change · Amendment of the articles · Legal-form change · Resignations & appointments
Appointment: VAN dE GRACHT Thomas Robert Yolande (director) · “De activiteiten van vervoercommissionair en vervoersmakelaar; De organisatie en uitwerking van vrachtvervoer…” (deed in Dutch) · VAN dE GRACHT Thomas Robert Yolande holds 90 shares · General meeting of 22-12-2023 · Gazette deed
Incorporation
published on 09-11-2009 · Gazette deed
First establishment
Voordestraat 10, Wetteren
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FRAHOREX Wetteren | €171,306 | €44,063 | 77.6% | - |
| Martec Maldegem | €133,247 | €48,518 | 88.9% | - |
| Translw Bonheiden | €170,423 | €50,414 | 40.8% | - |
| EDL LOGISTICS Lier | €166,949 | €34,491 | 93.3% | - |
| INTERNATIONAL PILOTS STYNEN Nijlen | €161,618 | €37,201 | 22.1% | - |
| DE SMEDT LOGISTIEK & BEHEER Geel | €186,892 | €58,590 | 96.6% | - |
| GLJ Visé | €137,217 | €49,728 | 30.7% | - |
These companies have the same main activity as FRAHOREX: logistics services (NACE 52250). They are comparable in size and age: total assets between €133,000 and €187,000, founded between 2008 and 2011.
Official details
Source: KBO- Status
- Active since 28-10-2009Normal situation
- Activity
- Logistics servicesNACE 52250
- Establishment unit
- 2.182.437.8409230 Wetteren, since 26-10-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 25-11-2025
Insights on FRAHOREX
FRAHOREX files the micro format. That format states no turnover. The gross margin fell from €64,445 in 2010 to €44,063 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FRAHOREX
- What is the company number of FRAHOREX?
- The company number of FRAHOREX is 0820.129.753. The VAT number is the same number with BE in front: BE 0820.129.753.
- Where is FRAHOREX based?
- The registered office is at Voordestraat 10, 9230 Wetteren.Company details
- What does FRAHOREX do?
- According to the KBO register, the main activity is logistics services (NACE 52250).
- What is the legal form of FRAHOREX?
- FRAHOREX is a private limited company (BV).
- When was FRAHOREX founded?
- FRAHOREX was founded on 28-10-2009.
- Is FRAHOREX still active?
- Yes, FRAHOREX is an active enterprise in the KBO register.
- What is the turnover of FRAHOREX?
- The turnover in financial year 2025 is ≈ €180,000. This figure is estimated from the gross margin of €44,063 and 2,934 comparable companies of the same size. It probably lies between €110,000 and €320,000. It is a rough estimate.Financials
- Is FRAHOREX profitable?
- In financial year 2025, FRAHOREX made a profit of €6,843.
- Where can I find the annual accounts of FRAHOREX?
- FRAHOREX filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FRAHOREX due?
- FRAHOREX must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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