Equity
-€89,925
Debts exceed assets in financial year 2025.
FRAMES
Lifetime
7 annual accounts with figures on one time axispeak €52,993 (2023)
€8,037▲ €24,145
lowest -€68,074 (2024)
-€1,655▲ €66,420
peak €6,035 (2019)
-€89,925▼ €1,655
€225,871▼ 3.3%
Board1 name since 2018
1 directorDenecker Carl
Documentsfilings and deeds
14-04-202616 days before the deadline
2025micro format
Gross margin from -€16,108 to €8,037Loss of €1,655
Key points
from the 2025 annual accountsResult
-€1,655 ▲ 97.6%
The result rose in 2025 from -€68,074 to -€1,655.
Turnover
≈ €23,000 estimated
The micro format states no turnover.
Debts
€225,871 166% of the balance sheet
Suppliers 4%Taxes and wages 2%Other 93%
Of this, €225,572 falls due within a year.
Filings
7 annual accounts 2 late
The 2019 accounts came latest: 267 days after the end of the period.
Position in the sector
-€89,925
Less equity than 94% of companies in rental and leasing. Sector median €45,393 · 1,853 companies.
Checked score
54
Fair
Financially stronger than 26% of micro companies in rental and leasing (NACE 77)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 3,166 companies (NACE 77, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.2%▲ +0.1 percentage points vs 12-2024
02-2025: 1.1%▼ -0.1 percentage points vs 01-2025
03-2025: 1.1%● unchanged vs 02-2025
04-2025: 1.2%▲ +0.1 percentage points vs 03-2025
05-2025: 2.2%▲ +1.0 percentage point vs 04-2025highest value
06-2025: 2.2%● unchanged vs 05-2025highest value
07-2025: 2.2%● unchanged vs 06-2025highest value
08-2025: 2.2%● unchanged vs 07-2025highest value
09-2025: 2.1%▼ -0.1 percentage points vs 08-2025
10-2025: 2.1%● unchanged vs 09-2025
11-2025: 2.1%● unchanged vs 10-2025
12-2025: 2.0%▼ -0.1 percentage points vs 11-2025
01-2026: 2.0%● unchanged vs 12-2025
02-2026: 2.0%● unchanged vs 01-2026
03-2026: 1.9%▼ -0.1 percentage points vs 02-2026
04-2026: 2.0%▲ +0.1 percentage points vs 03-2026
05-2026: 1.0%▼ -1.0 percentage point vs 04-2026
06-2026: 1.0%● unchanged vs 05-2026
07-2026: 1.0%● unchanged vs 06-2026
08-2026: 1.0%● unchanged vs 07-2026
09-2026: 1.0%● unchanged vs 08-2026
10-2026: 0.9%▼ -0.1 percentage points vs 09-2026lowest value
11-2026: 0.9%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€89,925
lowers risk
Size: total assets €135,946
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 77, micro). It does better than 7% of them on solvency, 14% on liquidity, 46% on profitability and 37% 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 30-09-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 1,564 companies had the same profile as FRAMES has now. Each dot stands for 4 companies, two years later.
88.9%
were still trading
5.4%
stopped another way
5.1%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FRAMES itself is lower: 0.9% within 12 months. It rests on far more data about FRAMES than the profile alone.
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 1,564 companies, not a prediction for FRAMES. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.49 (0.49 in 2024), below 1. Short-term debt is 165.9% and cash 9.9% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Four signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€89,925
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 14-04-2026, 16 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
16 days early
2024
1 day early
2023
4 days early
2022
22 days late
2021
30 days early
2020
on the day
2019
267 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 34 days after the deadline. In the sector (NACE 77), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 27 April (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
30-09-2026 year end09-11-2026 today30-04-2027 deadline
Board and ownership
DC
Denecker Carl
Director, since 16-01-2018
Shares in 2 companies, WOODFACTORY BELGIË and WOODFACTORY BERINGEN
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0688555983
Founder · Name clause
Gazette deed
First establishment
FRAMES bvba, Twaalfapostelenstraat 8, Ghent
Incorporation
published on 19-01-2018 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FRAMES Ghent | €135,946 | €8,037 | -66.1% | - |
| ACR Renting Evergem | €130,529 | €8,170 | -4.1% | - |
| KNEVELS MACHINERY Pelt | €98,011 | €10,605 | 50.0% | - |
| ECO-Invest Hasselt | €173,390 | €12,383 | 72.9% | - |
| SAFE & CLEAN Torhout | €176,799 | €6,707 | 62.2% | - |
| FPK-Rent Kruibeke | €188,148 | €4,336 | 46.3% | - |
| Coffral Services Benelux Maldegem | €148,334 | €18,976 | 88.5% | 0 |
These companies have the same main activity as FRAMES: renting and leasing of other machinery, equipment and tangible goods (NACE 77399). They are comparable in size and age: total assets between €98,000 and €188,000, founded between 2017 and 2020.
Official details
Source: KBO- Status
- Active since 17-01-2018Normal situation
- Activity
- Renting and leasing of other machinery, equipment and tangible goodsNACE 77399and 4 others
- Establishment unit
- 2.272.141.8569051 Ghent, since 30-01-2018
- Financial year end
- 30 September
- Peppol
- Reachable since 25-11-2025
Annual accounts to 30-09-2025
- €135,946▼ 6.4%
- Filing
- Filed on 14-04-2026, 16 days before the end of the filing period
Insights on FRAMES
FRAMES files the micro format. That format states no turnover. The gross margin rose from -€4,885 in 2019 to €8,037 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 FRAMES
- What is the company number of FRAMES?
- The company number of FRAMES is 0688.555.983. The VAT number is the same number with BE in front: BE 0688.555.983.
- Where is FRAMES based?
- The registered office is at Twaalfapostelenstraat 8, 9051 Ghent.Company details
- What does FRAMES do?
- According to the KBO register, the main activity is renting and leasing of other machinery, equipment and tangible goods (NACE 77399).
- What is the legal form of FRAMES?
- FRAMES is a private limited company (pre-2019) (BVBA).
- When was FRAMES founded?
- FRAMES was founded on 17-01-2018.
- Is FRAMES still active?
- Yes, FRAMES is an active enterprise in the KBO register.
- How many employees does FRAMES have?
- FRAMES had an average of 0.5 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of FRAMES?
- The turnover in financial year 2025 is ≈ €23,000. This figure is estimated from the gross margin of €8,037 and 48 comparable companies (NACE 77). It probably lies between €17,000 and €48,000. It is a rough estimate.
- Is FRAMES profitable?
- In financial year 2025, FRAMES made a loss of €1,655.
- Where can I find the annual accounts of FRAMES?
- FRAMES filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FRAMES due?
- FRAMES must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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