FRAMAR
ActiveSummary
FRAMAR has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €98,981 and a net result of -€2,231. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 40% of 9722 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
59
/ 100
Fair
The figures in the accounts for fiscal year 2024 give a score of 59 on their own. A confirmed filing finding caps the score. Each of these causes sets the same score on its own. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability68▼-2
Solvency46=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.05 against 0.04 in 2023; short-term debt: 66.9% and cash: 0.1% of total assets), and 78.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
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 2024Solvency, return and age of the figures
Solvency
21.2%
Return on assets
-0.5%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-10-2025, 92 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
92 d late
2023
76 d late
2022
102 d late
2021
31 d late
2020
61 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 76 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€98,981▼ 2.2%
2023 · €101,212
Total assets
€467,278▼ 2.8%
2023 · €480,667
Net result
-€2,231
2023 · €5,945
Working capital
-€297,990▼ 10.1%
2023 · -€270,666
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
Line20202021202220232024
Operating result€8,848▲ 35.2%€2,634▼ 70.2%€6,485▲ 146%€8,757▲ 35.0%-€383
Net result€3,792-€1,501€3,035€5,945▲ 95.9%-€2,231
Equity€93,958▲ 4.2%€92,457▼ 1.6%€95,492▲ 3.3%€101,212▲ 6.0%€98,981▼ 2.2%
Total assets€634,941▲ 6.9%€586,786▼ 7.6%€539,338▼ 8.1%€480,667▼ 10.9%€467,278▼ 2.8%
Debt€534,847▲ 7.6%€489,092▼ 8.6%€439,466▼ 10.1%€375,598▼ 14.5%€365,188▼ 2.8%
Working capital-€276,009▼ 24.0%-€270,741▲ 1.9%-€272,532▼ 0.7%-€270,666▲ 0.7%-€297,990▼ 10.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €383 after €8,757 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €467,278
Fixed assets
€452,881 ▼ 3.6%
Current assets
€14,397 ▲ 32.3%
Equity and liabilities €467,278
Equity
€98,981 ▼ 2.2%
Provisions
€3,109 ▼ 19.4%
Debt
€365,188 ▼ 2.8%
Debt's share of the balance-sheet total stays at 78.2%.
Key figures and ratios
EBITDA
€32,722▼
2023 · €45,816
Cash flow
€30,874▼
2023 · €43,004
Current ratio
0.05▲
2023 · 0.04
Debt to equity
3.69▼
2023 · 3.71
ROE
-2.3%▼
2023 · 5.9%
ROA
-0.5%▼
2023 · 1.2%
Interest coverage
12.60▼
2023 · 12.86
Debt ≤ 1 year
€312,387▲
2023 · €281,546
Debt > 1 year
€52,801▼
2023 · €94,052
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,501 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
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 2,501 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,551 | €39,213 | €39,979 | €37,059 | €33,105 | ▼ 10.7% |
| Other operating charges640/8 | - | €3,168 | €3,885 | €12,274 | €4,512 | ▼ 63.2% |
| Gross operating margin9900 | €48,575 | €45,015 | €50,349 | €58,090 | €37,234 | ▼ 35.9% |
| Operating profit (loss)9901 | €8,848 | €2,634 | €6,485 | €8,757 | -€383 | ▼ 104% |
| Financial income75/76B | - | €0 | €0 | €2 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | €0 | €0 | €2 | €0 | ▼ 100% |
| Financial charges65/66B | - | €5,034 | €4,308 | €3,562 | €2,596 | ▼ 27.1% |
| Recurring financial charges65 | €5,701 | €5,034 | €4,308 | €3,562 | €2,596 | ▼ 27.1% |
| Profit (loss) for the period before taxes9903 | €3,147 | -€2,400 | €2,178 | €5,197 | -€2,979 | ▼ 157% |
| Transfer from deferred taxes780 | - | €899 | €857 | €748 | €748 | = |
| Profit (loss) for the period9904 | €3,792 | -€1,501 | €3,035 | €5,945 | -€2,231 | ▼ 138% |
| Transfer from tax-exempt reserves789 | - | €2,233 | €2,135 | €2,244 | €2,244 | = |
| Profit (loss) for the period to be appropriated9905 | €5,726 | €731 | €5,170 | €8,189 | €13 | ▼ 99.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €634,941 | €586,786 | €539,338 | €480,667 | €467,278 | ▼ 2.8% |
| Fixed assets21/28 | €572,829 | €542,424 | €506,845 | €469,786 | €452,881 | ▼ 3.6% |
| Tangible fixed assets22/27 | €572,829 | €542,416 | €506,837 | €469,778 | €452,873 | ▼ 3.6% |
| Land and buildings22 | - | €516,412 | €490,404 | €459,896 | €437,093 | ▼ 5.0% |
| Plant, machinery and equipment23 | - | €26,004 | €16,433 | €9,882 | €15,780 | ▲ 59.7% |
| Financial fixed assets28 | - | €8 | €8 | €8 | €8 | = |
| Current assets29/58 | €62,112 | €44,362 | €32,492 | €10,880 | €14,397 | ▲ 32.3% |
| Amounts receivable within one year40/41 | €61,171 | €44,361 | €30,236 | €7,137 | €13,044 | ▲ 82.8% |
| Trade receivables40 | - | €44,138 | €29,818 | €6,347 | €11,802 | ▲ 86.0% |
| Other amounts receivable41 | - | €223 | €418 | €790 | €1,242 | ▲ 57.1% |
| Cash at bank and in hand54/58 | €941 | €1 | €2,257 | €3,121 | €619 | ▼ 80.2% |
| Deferred charges and accrued income490/1 | - | - | - | €622 | €734 | ▲ 17.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €634,941 | €586,786 | €539,338 | €480,667 | €467,278 | ▼ 2.8% |
| Equity10/15 | €93,958 | €92,457 | €95,492 | €101,212 | €98,981 | ▼ 2.2% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €31,958 | €30,457 | €33,492 | €39,212 | €36,981 | ▼ 5.7% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | €16,175 | €14,040 | €11,571 | €9,327 | ▼ 19.4% |
| Distributable reserves133 | - | €8,082 | €13,252 | €21,441 | €21,454 | ▲ 0.1% |
| Provisions and deferred taxes16 | €6,136 | €5,237 | €4,380 | €3,857 | €3,109 | ▼ 19.4% |
| Deferred taxes168 | - | €5,237 | €4,380 | €3,857 | €3,109 | ▼ 19.4% |
| Amounts payable17/49 | €534,847 | €489,092 | €439,466 | €375,598 | €365,188 | ▼ 2.8% |
| Amounts payable after more than one year17 | €196,726 | €173,989 | €134,442 | €94,052 | €52,801 | ▼ 43.9% |
| Financial debts170/4 | - | €173,989 | €134,442 | €94,052 | €52,801 | ▼ 43.9% |
| Amounts payable within one year42/48 | €338,120 | €315,103 | €305,024 | €281,546 | €312,387 | ▲ 11.0% |
| Current portion of amounts payable after more than one year42 | - | €38,723 | €39,547 | €40,390 | €41,250 | ▲ 2.1% |
| Trade debts44 | €87,366 | €185 | €525 | €2,301 | €2,323 | ▲ 0.9% |
| Suppliers440/4 | - | €185 | €525 | €2,301 | €2,323 | ▲ 0.9% |
| Advances received on contracts in progress46 | - | €4,966 | €7,855 | €9,017 | €10,585 | ▲ 17.4% |
| Taxes, remuneration and social security45 | - | €821 | €1,148 | €7,736 | €710 | ▼ 90.8% |
| Taxes450/3 | - | €821 | €1,148 | €7,736 | €710 | ▼ 90.8% |
| Other amounts payable47/48 | - | €270,409 | €255,949 | €222,102 | €257,518 | ▲ 15.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,792 | -€1,501 | €3,035 | €5,945 | -€2,231 | ▼ 138% |
| + Depreciation and write-downs630 | €36,551 | €39,213 | €39,979 | €37,059 | €33,105 | ▼ 10.7% |
| Operating cash flow (approximation) | €40,343 | €37,711 | €43,014 | €43,004 | €30,874 | ▼ 28.2% |
| Investment in fixed assets (approximation) | - | -€8,808 | -€4,400 | €0 | -€16,200 | - |
| Change in cash | - | -€940 | €2,255 | €864 | -€2,501 | ▼ 390% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 92 days late
2024
15-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 76 days late
2023
31-12
Financial
Highest result since 2018net €5,945 ▲95.9%
Net result €5,945, the highest in the series.
31-12
Financial
Equity above €100,000Eq €101,212 ▲6%
2 profitable years in a row build equity to €101,212.
10-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 102 days late
2022
31-12
Financial
Back to profitnet €3,035
Net result €3,035 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
31-12
Financial
Back to profitnet €3,792
Net result €3,792 after 2 loss-making years.
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 92 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial 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, Hamme (Vl.) · 1 establishment unit since 1997
Ground area
194 m²
Building footprint
194 m²
Volume, LiDAR
976 m³
Parcel 42008A1303/00C000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Neerstraat 165, 9220 Hamme (Vl.)
since 19972.084.208.613
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42008A1303/00C000 | Flanders | 194 m² | 1 · 194 m² | 7.9 m · 2 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.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 4,168 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-03-1997
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0460257278
Also
9925:BE0460257278
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.