FRANCKIN
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 28-10-2026 at the NBB all 30 filings
Turnover
≈ €60,000
Estimated: probably between €27,000 and €110,000
Total assets
€32,031▲ 19.1%
2025 · €26,890
Net result
€5,901
2025 · -€6,654
Working capital
-€27,367▲ 17.7%
2025 · -€33,268
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€6,556
2026
20192026
Net result
€5,901
2026
20192026
Equity
-€27,367
▲ 17.7%
2026
20192026
Total assets
€32,031
▲ 19.1%
2026
20192026
Debt
€59,398
▼ 1.3%
2026
20192026
Working capital
-€27,367
▲ 17.7%
2026
20192026
Solvency
-85.4%
▲ 38.3pp
2026
20192026
Current ratio
0.54
▲ 0.09
2026
20192026
Return on assets (ROA)
18.4%
▲ 43.2pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€6,549--€10,436▼ 59.4%-€1,074▲ 89.7%-€1,158▼ 7.8%€3,339-€1,269-€6,349▼ 400%€6,556
Net result-€8,255--€11,104▼ 34.5%-€1,769within the sector's middle half▲ 84.1%-€1,658within the sector's middle half▲ 6.3%€3,077within the sector's middle half-€1,558within the sector's middle half-€6,654below the sector's middle half▼ 327%€5,901
Equity-€13,601--€24,704▼ 81.6%-€26,474below the sector's middle half▼ 7.2%-€28,132below the sector's middle half▼ 6.3%-€25,055below the sector's middle half▲ 10.9%-€26,614below the sector's middle half▼ 6.2%-€33,268below the sector's middle half▼ 25.0%-€27,367▲ 17.7%
Total assets€77,208-€58,767▼ 23.9%€54,193below the sector's middle half▼ 7.8%€50,253below the sector's middle half▼ 7.3%€53,555below the sector's middle half▲ 6.6%€40,191below the sector's middle half▼ 25.0%€26,890below the sector's middle half▼ 33.1%€32,031▲ 19.1%
Debt€90,809-€83,472▼ 8.1%€80,667▼ 3.4%€78,385▼ 2.8%€78,610▲ 0.3%€66,805▼ 15.0%€60,158▼ 9.9%€59,398▼ 1.3%
Working capital-€26,592--€32,121▼ 20.8%-€28,769below the sector's middle half▲ 10.4%-€28,002below the sector's middle half▲ 2.7%-€24,973below the sector's middle half▲ 10.8%-€26,595below the sector's middle half▼ 6.5%-€33,268below the sector's middle half▼ 25.1%-€27,367▲ 17.7%
Solvency-17.6%--42.0%▼ 24.4pp-48.9%below the sector's middle half▼ 6.8pp-56.0%below the sector's middle half▼ 7.1pp-46.8%below the sector's middle half▲ 9.2pp-66.2%below the sector's middle half▼ 19.4pp-123.7%below the sector's middle half▼ 57.5pp-85.4%▲ 38.3pp
Current ratio0.71-0.62▼ 0.090.64below the sector's middle half▲ 0.030.64below the sector's middle half=0.68below the sector's middle half▲ 0.040.60below the sector's middle half▼ 0.080.45below the sector's middle half▼ 0.150.54▲ 0.09
Return on assets (ROA)-10.7%--18.9%▼ 8.2pp-3.3%below the sector's middle half▲ 15.6pp-3.3%below the sector's middle half=5.7%within the sector's middle half▲ 9.0pp-3.9%below the sector's middle half▼ 9.6pp-24.7%below the sector's middle half▼ 20.9pp18.4%▲ 43.2pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a profit of €6,556, after a loss of €6,349 in 2025. It is the highest result since 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Key figures and ratios
Quick ratio
0.17▲
2025 · 0.08
Debt ≤ 1 year
€59,398▼
2025 · €60,158
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,207 | €5,023 | €5,024 | €2,371 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €791 | €762 | €434 | €453 | €402 | ▼ 11.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €50 | - | - | - |
| Gross operating margin9900 | -€2,624 | -€4,077 | €4,711 | €2,004 | €4,100 | -€785 | -€5,896 | €6,958 | - |
| Operating profit (loss)9901 | -€6,549 | -€10,436 | -€1,074 | -€1,158 | €3,339 | -€1,269 | -€6,349 | €6,556 | - |
| Financial income75/76B | - | - | - | €4 | €242 | - | - | - | - |
| Recurring financial income75 | €843 | - | - | €4 | €242 | - | - | - | - |
| Financial charges65/66B | - | - | - | €358 | €368 | €289 | €306 | €655 | ▲ 114% |
| Recurring financial charges65 | €2,549 | €498 | €551 | €358 | €368 | €289 | €306 | €655 | ▲ 114% |
| Profit (loss) for the period before taxes9903 | -€8,255 | -€10,934 | -€1,624 | -€1,512 | €3,213 | -€1,558 | -€6,654 | €5,901 | - |
| Income taxes67/77 | - | €169 | €145 | €146 | €137 | - | - | - | - |
| Profit (loss) for the period9904 | -€8,255 | -€11,104 | -€1,769 | -€1,658 | €3,077 | -€1,558 | -€6,654 | €5,901 | - |
| Profit (loss) for the period to be appropriated9905 | -€8,255 | -€11,104 | -€1,769 | -€1,658 | €3,077 | -€1,558 | -€6,654 | €5,901 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €77,208 | €58,767 | €54,193 | €50,253 | €53,555 | €40,191 | €26,890 | €32,031 | ▲ 19.1% |
| Fixed assets21/28 | €13,022 | €7,445 | €2,371 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €12,969 | €7,395 | €2,371 | - | - | - | - | - | - |
| Financial fixed assets28 | €53 | €50 | - | - | - | - | - | - | - |
| Current assets29/58 | €64,186 | €51,322 | €51,822 | €50,253 | €53,555 | €40,191 | €26,890 | €32,031 | ▲ 19.1% |
| Stocks and contracts in progress3 | €45,519 | €43,700 | €43,357 | €40,476 | €40,322 | €30,310 | €22,057 | €22,057 | = |
| Stocks30/36 | - | - | - | €40,476 | €40,322 | €30,310 | €22,057 | €22,057 | = |
| Amounts receivable within one year40/41 | €9,395 | €6,320 | €4,176 | €8,792 | €12,526 | €9,729 | €2,202 | €1,597 | ▼ 27.5% |
| Trade receivables40 | - | - | - | €7,206 | €11,029 | €9,729 | €2,202 | €1,597 | ▼ 27.5% |
| Other amounts receivable41 | - | - | - | €1,586 | €1,497 | - | - | - | - |
| Cash at bank and in hand54/58 | €7,503 | €407 | €3,329 | €65 | €319 | €152 | €2,632 | €8,287 | ▲ 215% |
| Deferred charges and accrued income490/1 | - | - | - | €921 | €388 | - | - | €90 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €77,208 | €58,767 | €54,193 | €50,253 | €53,555 | €40,191 | €26,890 | €32,031 | ▲ 19.1% |
| Equity10/15 | -€13,601 | -€24,704 | -€26,474 | -€28,132 | -€25,055 | -€26,614 | -€33,268 | -€27,367 | ▲ 17.7% |
| Contributions10/11 | €29,747 | €29,747 | - | €29,747 | €29,747 | €29,747 | €14,874 | €14,874 | = |
| Reserves13 | €2,975 | €2,975 | €2,975 | €2,975 | €2,975 | €2,975 | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €2,975 | €2,975 | €2,975 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,975 | €2,975 | €2,975 | - | - | - |
| Profit (loss) carried forward14 | -€46,323 | -€57,426 | -€59,196 | -€60,854 | -€57,777 | -€59,336 | -€48,142 | -€42,241 | ▲ 12.3% |
| Amounts payable17/49 | €90,809 | €83,472 | €80,667 | €78,385 | €78,610 | €66,805 | €60,158 | €59,398 | ▼ 1.3% |
| Amounts payable within one year42/48 | €90,778 | €83,443 | €80,591 | €78,255 | €78,528 | €66,785 | €60,158 | €59,398 | ▼ 1.3% |
| Financial debts43 | - | - | - | €2,665 | - | €1 | - | - | - |
| Credit institutions430/8 | - | - | - | €2,665 | - | €1 | - | - | - |
| Trade debts44 | €9,060 | €8,067 | €6,504 | €3,321 | €7,194 | €5,669 | €146 | €347 | ▲ 138% |
| Suppliers440/4 | - | - | - | €3,321 | €7,194 | €5,669 | €146 | €347 | ▲ 138% |
| Taxes, remuneration and social security45 | - | - | - | €184 | €1,539 | €692 | €169 | €633 | ▲ 275% |
| Taxes450/3 | - | - | - | €184 | €1,539 | €692 | €169 | €633 | ▲ 275% |
| Other amounts payable47/48 | - | - | - | €72,086 | €69,794 | €60,423 | €59,844 | €58,418 | ▼ 2.4% |
| Accrued charges and deferred income492/3 | - | - | - | €130 | €82 | €19 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,255 | -€11,104 | -€1,769 | -€1,658 | €3,077 | -€1,558 | -€6,654 | €5,901 | - |
| + Depreciation and write-downs630 | €5,207 | €5,023 | €5,024 | €2,371 | - | - | - | - | - |
| Operating cash flow (approximation) | -€3,049 | -€6,081 | €3,254 | €713 | €3,077 | -€1,558 | -€6,654 | €5,901 | - |
| Investment in fixed assets (approximation) | - | €554 | €50 | - | - | - | - | - | - |
| Change in cash | - | -€7,096 | €2,922 | -€3,265 | €254 | -€166 | €2,479 | €5,655 | ▲ 128% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,794 companies had the same profile as FRANCKIN has now. Two years later, 91.5% were still going and 2.7% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
91.5%
was still going
5.3%
stopped otherwise
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FRANCKIN itself is lower: 0.3% within 12 months. It rests on far more data about FRANCKIN than the profile alone.
Test of the method
The method was tested on the 497,446 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 3,794 companies, not a prediction for FRANCKIN. 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.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 28-10-2026 | 2026-00570945 | |
| 31-03-2025 | micro format | 29-10-2025 | 2025-00555278 | |
| 31-03-2024 | micro format | 31-10-2024 | 2024-00525399 | |
| 31-03-2023 | micro format | 20-12-2023 | 2023-00534231 | |
| 31-03-2022 | micro format | 30-11-2022 | 2022-20530491 | |
| 31-03-2021 | micro format | 30-11-2021 | 2021-78800412 | |
| 31-03-2020 | micro format | 18-12-2020 | 2020-76300062 | |
| 31-03-2019 | micro format | 25-11-2019 | 2019-74300306 | |
| 31-03-2018 | micro format | 26-09-2018 | 2018-65100215 | |
| 31-03-2017 | micro format | 26-09-2017 | 2017-62800439 |