FRANJAC
ActiveSummary
The computed 12-month bankruptcy probability of FRANJAC is 11.5% (high). For FRANJAC, at least two annual filings are missing. The 2023 annual accounts show equity of €120,185 and a net result of -€81,366. Equity has been shrinking by about 14% per year since 2018. Its solvency ranks better than 38% of 17,633 sector peers (NACE 56, financial year 2023). The company has been active since 1986 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 18-03-1986 Normal situation
- Activity
- Full-service restaurants NACE 56111
- Establishment unit
- 2.129.281.345 1410 Waterloo, since 23-07-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 27-03-2026
Board and ownership
Board
- Gallée Horeca et DeveloppementDirector · since 10-03-2022 · permanent representative Edouard Ernest Gallée
Financial position
- Bankruptcy probabilitywithin 12 months
- 11.5%
2023 figures too old to score
Annual accounts 2023
- Gross margin
- -€24,156
- ▼ 25.2%
- Loss
- €81,366
- ▼ 46.7%
- Equity
- €120,185
- ▼ 40.4%
- Total assets
- €892,177
- ▼ 3.2%
- Staff
- ≈ 0.2 FTE
- estimated
- 2024 accounts not filed, 461 days past the deadline
Signalsraises risk2 financial years not filed after the legal deadline; last filed accounts filed 759 days late; 3 of the last 3 accounts lateFigures for financial year 2023 (filed on 29-08-2026)Liquidity: current ratio 1.25, cash €3,139, halvedTwo or more financial years not filed2023 accounts filed 759 days latelowers riskFounded in 1986Show the evidence
Bankruptcy probability
No current score
Figures too old
The latest figures are for FY 2023. They are too old for a current score.
Bankruptcy probability: High
Filing: At least two annual filings are missing
Financial strength, FY 2023 · tick: 2022
Weak
Solvency
38-9
equity 13.5% of total assets
Liquidity
21-12
short-term debt 57.6% · cash 0.4%
Profitability
7+7
return on assets -9.1%
Bankruptcy probability within 12 months
11.5%
High
0%0.5%1.5%4%10%≥ 25%
About 1 in 9 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 5.3%lowest value
01-2025: 8.3%▲ +3.0 percentage points vs 12-2024
02-2025: 8.3%● unchanged vs 01-2025
03-2025: 8.4%▲ +0.1 percentage points vs 02-2025
04-2025: 7.7%▼ -0.7 percentage points vs 03-2025
05-2025: 7.7%● unchanged vs 04-2025
06-2025: 7.7%● unchanged vs 05-2025
07-2025: 7.7%● unchanged vs 06-2025
08-2025: 9.7%▲ +2.0 percentage points vs 07-2025
09-2025: 9.7%● unchanged vs 08-2025
10-2025: 9.7%● unchanged vs 09-2025
11-2025: 9.7%● unchanged vs 10-2025
12-2025: 10.1%▲ +0.4 percentage points vs 11-2025
01-2026: 10.1%● unchanged vs 12-2025
02-2026: 10.1%● unchanged vs 01-2026
03-2026: 10.1%● unchanged vs 02-2026
04-2026: 10.1%● unchanged vs 03-2026
05-2026: 10.1%● unchanged vs 04-2026
06-2026: 10.1%● unchanged vs 05-2026
07-2026: 10.1%● unchanged vs 06-2026
08-2026: 9.5%▼ -0.6 percentage points vs 07-2026
09-2026: 11.5%▲ +2.0 percentage points vs 08-2026highest value
10-2026: 11.5%● unchanged vs 09-2026highest value
11-2026: 11.5%● unchanged vs 10-2026highest value
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Signals
Six signals.
lowers riskraises risk
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 · 10 filingsPosition against the passed deadline
31-12-2024 year end31-07-2025 deadline04-11-2026 today
raises risk · 2023 accounts filed 759 days late
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-08-2026, 759 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
759 days late
2022
92 days late
2021
31 days late
2020
30 days late
2019
68 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 196 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 4 November 2026.
Annual accounts 2023 filed on 29-08-2026 at the NBB all 37 filings
Turnover
€0
2019 · €0
EBIT margin
Not included in this filing
Net result
-€81,366▲ 46.7%
2022 · -€152,635
Working capital
€129,804▼ 54.4%
2022 · €284,610
Multi-year overview
2018 to 2023, 6 financial yearsTurnover
no figure
2023
20182023
Operating result
-€68,536
▲ 49.9%
2023
20182023
Net result
-€81,366
▲ 46.7%
2023
lowest quarter of the sector
20182023
Equity
€120,185
▼ 40.4%
2023
highest quarter of the sector
20182023
Total assets
€892,177
▼ 3.2%
2023
highest quarter of the sector
20182023
Debt
€771,992
▲ 7.2%
2023
20182023
Working capital
€129,804
▼ 54.4%
2023
highest quarter of the sector
20182023
Solvency
13.5%
▼ 8.4pp
2023
middle half of the sector
20182023
Current ratio
1.25
▼ 0.55
2023
middle half of the sector
20182023
Return on assets (ROA)
-9.1%
▲ 7.4pp
2023
lowest quarter of the sector
20182023
Staff (FTE)
no figure
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Turnover€0€0
Operating result-€0.2m--€0.05m▲ 77.7%€0.5m-€0.003m-€0.1m▼ 5,099%-€0.07m▲ 49.9%
Net result-€0.2m--€0.08m▲ 67.9%€0.2mabove the sector's middle half-€0.05mbelow the sector's middle half-€0.2mbelow the sector's middle half▼ 204%-€0.08mbelow the sector's middle half▲ 46.7%
Equity€0.3m-€0.2m▼ 26.5%€0.4mabove the sector's middle half▲ 89.4%€0.4mabove the sector's middle half▼ 12.4%€0.2mabove the sector's middle half▼ 43.1%€0.1mabove the sector's middle half▼ 40.4%
Total assets€1.3m-€1.1m▼ 10.9%€1.4mabove the sector's middle half▲ 24.6%€1.1mabove the sector's middle half▼ 21.0%€0.9mabove the sector's middle half▼ 18.3%€0.9mabove the sector's middle half▼ 3.2%
Debt€1.0m-€0.9m▼ 6.4%€1.0m▲ 9.8%€0.8m▼ 24.4%€0.7m▼ 6.9%€0.8m▲ 7.2%
Working capital€0.2m-€0.1m▼ 38.5%€0.4mabove the sector's middle half▲ 206%€0.4mabove the sector's middle half▼ 10.5%€0.3mabove the sector's middle half▼ 24.8%€0.1mabove the sector's middle half▼ 54.4%
Solvency22.6%-18.6%▼ 4.0pp28.3%within the sector's middle half▲ 9.7pp31.4%within the sector's middle half▲ 3.1pp21.9%within the sector's middle half▼ 9.5pp13.5%within the sector's middle half▼ 8.4pp
Current ratio1.47-1.27▼ 0.201.74within the sector's middle half▲ 0.462.06within the sector's middle half▲ 0.331.80within the sector's middle half▼ 0.261.25within the sector's middle half▼ 0.55
Return on assets (ROA)-18.7%--6.7%▲ 12.0pp13.4%above the sector's middle half▲ 20.1pp-4.5%below the sector's middle half▼ 17.8pp-16.6%below the sector's middle half▼ 12.1pp-9.1%below the sector's middle half▲ 7.4pp
Staff (FTE)22-19.7▼ 10.5%10within the sector's middle half▼ 49.2%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 2023 is a loss of €68,536, smaller than the loss of €136,822 in 2022.
Large changes and their cause
- 2022 Net result -204% on 2021. The accounts now follow the micro format, last year the full format.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €892,177
Fixed assets
€248,426 ▼ 11.6%
Current assets
€643,751 ▲ 0.5%
Equity and liabilities €892,177
Equity
€120,185 ▼ 40.4%
Debt
€771,992 ▲ 7.2%
Debt's share of the balance-sheet total rises from 78.1% to 86.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€35,831▲
2022 · -€104,117
Cash flow
-€48,661▲
2022 · -€119,930
Debt to equity
6.42▲
2022 · 3.57
ROE
-67.7%▲
2022 · -75.7%
Interest coverage
-2.79▲
2022 · -6.58
Debt ≤ 1 year
€513,947▲
2022 · €355,772
Debt > 1 year
€257,881▼
2022 · €364,026
Staff costs
€5,624
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Overdue tax debts | €185,532 | - | - |
| Overdue social security (RSZ) debts | €17,445 | - | - |
Source: notes to the 2021 to 2023 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Mortgages, amount registered | €550,570 | - | - |
| Carrying value of the mortgaged assets | €391,700 | - | - |
Source: notes to the 2021 to 2023 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €16,791 | - | - |
| Depreciation and write-downs of the year | €55,393 | €32,705 | €32,705 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | - | €0 | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €8,753 | - | €5,624 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €90,707 | €82,285 | €59,782 | €55,393 | €32,705 | €32,705 | = |
| Other operating charges640/8 | - | - | - | €20,005 | €5,884 | €6,052 | ▲ 2.9% |
| Non-recurring operating charges66A | - | - | - | €2,560 | €78,939 | - | - |
| Gross operating margin9900 | €793,514 | €737,598 | €817,746 | €84,079 | -€19,293 | -€24,156 | ▼ 25.2% |
| Operating profit (loss)9901 | -€203,347 | -€45,431 | €535,281 | -€2,632 | -€136,822 | -€68,536 | ▲ 49.9% |
| Financial income75/76B | - | - | - | €103 | - | - | - |
| Recurring financial income75 | €212 | €83 | €165 | €103 | - | - | - |
| Financial charges65/66B | - | - | - | €23,180 | €15,814 | €12,830 | ▼ 18.9% |
| Recurring financial charges65 | €36,585 | €31,756 | €25,114 | €23,180 | €15,814 | €12,830 | ▼ 18.9% |
| Profit (loss) for the period before taxes9903 | -€239,720 | -€77,104 | €391,174 | -€25,709 | -€152,635 | -€81,366 | ▲ 46.7% |
| Income taxes67/77 | €454 | -€12 | €200,312 | €24,507 | - | - | - |
| Profit (loss) for the period9904 | -€240,173 | -€77,092 | €190,863 | -€50,216 | -€152,635 | -€81,366 | ▲ 46.7% |
| Profit (loss) for the period to be appropriated9905 | -€240,173 | -€77,092 | €190,863 | -€50,216 | -€152,635 | -€81,366 | ▲ 46.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €1.3m | €1.1m | €1.4m | €1.1m | €0.9m | €0.9m | ▼ 3.2% |
| Fixed assets21/28 | €0.6m | €0.5m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 11.6% |
| Intangible fixed assets21 | €0.001m | €0 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 11.7% |
| Land and buildings22 | - | - | - | €0.3m | €0.3m | €0.2m | ▼ 11.7% |
| Plant, machinery and equipment23 | - | - | - | €0.07m | - | - | - |
| Furniture and vehicles24 | - | - | - | €0 | - | - | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.7m | €0.6m | €1.0m | €0.7m | €0.6m | €0.6m | ▲ 0.5% |
| Stocks and contracts in progress3 | €0.04m | €0.02m | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €0.5m | €0.5m | €0.9m | €0.7m | €0.6m | €0.6m | ▲ 1.1% |
| Trade receivables40 | - | - | - | €0.04m | €0.04m | €0.04m | = |
| Other amounts receivable41 | - | - | - | €0.6m | €0.6m | €0.6m | ▲ 1.2% |
| Current investments50/53 | €0.1m | €0.09m | €0.07m | €0.07m | €0.001m | €0.001m | = |
| Cash at bank and in hand54/58 | €0.06m | €0.08m | €0.01m | €0.01m | €0.007m | €0.003m | ▼ 55.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.001m | €0.001m | ▲ 33.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €1.3m | €1.1m | €1.4m | €1.1m | €0.9m | €0.9m | ▼ 3.2% |
| Equity10/15 | €0.3m | €0.2m | €0.4m | €0.4m | €0.2m | €0.1m | ▼ 40.4% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.4m | = |
| Profit (loss) carried forward14 | -€0.08m | -€0.2m | €0.03m | -€0.02m | -€0.2m | -€0.3m | ▼ 48.1% |
| Amounts payable17/49 | €1.0m | €0.9m | €1.0m | €0.8m | €0.7m | €0.8m | ▲ 7.2% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 29.2% |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0.2m | = |
| Other amounts payable178/9 | - | - | - | €0.1m | €0.1m | €0.02m | ▼ 86.4% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.6m | €0.4m | €0.4m | €0.5m | ▲ 44.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.07m | - | - |
| Trade debts44 | €0.2m | €0.3m | €0.1m | €0.07m | €0.02m | €0.01m | ▼ 5.7% |
| Suppliers440/4 | - | - | - | €0.07m | €0.02m | €0.01m | ▼ 5.7% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | €0.2m | = |
| Taxes450/3 | - | - | - | €0.2m | €0.2m | €0.2m | = |
| Remuneration and social security454/9 | - | - | - | €0.02m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.005m | €0.1m | €0.3m | ▲ 210% |
| Accrued charges and deferred income492/3 | - | - | - | €164 | €164 | €164 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€240,173 | -€77,092 | €190,863 | -€50,216 | -€152,635 | -€81,366 | ▲ 46.7% |
| + Depreciation and write-downs630 | €90,707 | €82,285 | €59,782 | €55,393 | €32,705 | €32,705 | = |
| Operating cash flow (approximation) | -€149,466 | €5,193 | €250,645 | €5,176 | -€119,930 | -€48,661 | ▲ 59.4% |
| Investment in fixed assets (approximation) | - | -€1,799 | €12,615 | -€16,791 | €78,939 | €0 | ▼ 100% |
| Change in cash | - | €14,613 | -€65,869 | -€1,964 | -€3,260 | -€3,866 | ▼ 18.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 29-08-2026 | 2026-00451712 | |
| 31-12-2022 | micro format | 31-10-2023 | 2023-00508775 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20392186 | |
| 31-12-2020 | full format | 30-08-2021 | 2021-59800046 | |
| 31-12-2019 | full format | 07-10-2020 | 2020-60200311 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-60000061 | |
| 31-12-2017 | full format | 30-08-2018 | 2018-56200194 | |
| 31-12-2016 | full format | 31-08-2017 | 2017-59100013 | |
| 31-12-2015 | full format | 31-08-2016 | 2016-53500373 | |
| 31-12-2014 | full format | 31-08-2015 | 2015-54600423 |
Board & ownership
Directors
Directors
1 director, last change in 2022
Board 1
Gallée Horeca et Developpement
Current
Director · since 10-03-2022 · Legal entity · permanent representative: Edouard Ernest Gallée · listed in the 2021 annual accounts, filed on 31-08-2022
Permanent representatives 1
Edouard Ernest Gallée
Current
Permanent representative · appointed in the act of 25-03-2022 · for Gallée Horeca et Developpement
Owners and capital
Owners
Mandate history
2 people, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Gallée Horeca et Developpement |
|
| Culot Catherine |
|
Network & group
FRANJAC shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of FRANJAC. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2026
29-08
micro format · 759 days late
2023
31-10
micro format · 92 days late
2022
31-08
full format · 31 days late
25-03
Gazette deed
Registered office moved from Waterloo to TERTRE Rue Louis GlineurNew seat: 7333 TERTRE Rue Louis Glineur 47B · Previous seat: Chaussée de Tervuren 129, 1410 Waterloo · Resignation: Culot Catherine (director)6 points ▸
Gazette deed
Registered office moved from Waterloo to TERTRE Rue Louis Glineur
New seat: 7333 TERTRE Rue Louis Glineur 47B · Previous seat: Chaussée de Tervuren 129, 1410 Waterloo · Resignation: Culot Catherine (director)6 points ▸
- General meeting, 15-03-2022
- Director resignation, Culot Catherine (director)
- Director discharge, Culot Catherine
- Director appointment, Gallée Horeca et Developpement (director)
- Permanent representative, Edouard Ernest Gallée (director)
- Registered-office move, 7333 TERTRE Rue Louis Glineur 47B
2021
30-08
full format · 30 days late
2020
31-12
Financial
Back to profitnet €190,863
The net result is €190,863, after 2 loss-making years.
07-10
full format · 68 days late
2019
30-08
full format · 30 days late
2018
30-08
full format · 30 days late
2017
31-08
full format · 31 days late
2016
31-08
full format · 31 days late
2015
31-08
full format · 31 days late
1986
29-03
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
FRANJAC in French
Enterprise number
0428.633.397
Legal form
Coöperatieve vennootschap met beperkte aansprakelijkheid
Status
Active, normale toestand
Founded
18-03-1986
Entity type
Legal entity
Registered office and establishments
Registered office
Rue L.Glineur(T) 47B, 7333 Saint-Ghislain, Belgium
1 former office
- Chaussée de Tervuren 129, 1410 Waterloo until the act of 25-03-2022
Establishment unit
Chaussée de Tervuren 129, 1410 Waterloo since 23-07-1991 · unit number 2.129.281.34568110 Buying and selling of own real estate
Activities
NACEBEL 202556111
Full-service restaurants main activity
Codes under NACEBEL 2008
56101
Full-service restaurants main activity
Invoicing and payment
VAT number
BE 0428.633.397
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Cannot be placed on the map
This address was not found in the Belgian address register (BOSA BEST).
Rue L.Glineur(T) 47B7333 Saint-GhislainBuildings and parcels at the addresses
Ground area
478 m²
Building footprint
101 m²
Building volume
634 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25763L0645/00A000 | Wallonia | 478 m² | 1 · 101 m² | 9.0 m · 2 |