FRAX
ActiveSummary
FRAX has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €142k and a net result of €11k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 36% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▼-32
Solvency39▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days only on tighter terms
Liquidity short (current ratio 0.81 against 0.61 in 2024; short-term debt: 22% and cash: 2.4% of total assets), and 86.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13.8%
Return on assets
1.1%
Age of the figures
12 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €142k
raises risk · Filed more than 90 days late
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-08-2026, 120 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 · 7 filingsDeviation from the deadline
2025
120 d late
2024
on the day
2023
36 d early
2022
2 d early
2021
3 d late
2020
1 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€142k▲ 8.3%
2024 · €131k
Total assets
€1.03M▲ 34.5%
2024 · €765k
Net result
€11k▼ 80.8%
2024 · €57k
Working capital
€-44k▲ 43.1%
2024 · €-78k
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
Line20212022202320242025
Operating result€-17k▼ 420%€60k€67k▲ 12.2%€69k▲ 2.7%€43k▼ 38.3%
Net result€-28k▼ 609%€48k€56k▲ 17.6%€57k▲ 1.1%€11k▼ 80.8%
Equity€-19k€28k€84k▲ 198%€131k▲ 55.3%€142k▲ 8.3%
Total assets€882k▲ 2,506%€776k▼ 12.0%€733k▼ 5.5%€765k▲ 4.4%€1.03M▲ 34.5%
Debt€901k▲ 3,505%€747k▼ 17.1%€649k▼ 13.2%€635k▼ 2.2%€888k▲ 39.9%
Working capital€-229k▼ 845%€-89k▲ 61.3%€-67k▲ 24.4%€-78k▼ 15.6%€-44k▲ 43.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 38% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.03M
Fixed assets
€847k ▲ 31.7%
Current assets
€183k ▲ 48.8%
Equity and liabilities €1.03M
Equity
€142k ▲ 8.3%
Debt
€888k ▲ 39.9%
Debt's share of the balance-sheet total rises from 82.9% to 86.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€101k▼
2024 · €110k
Cash flow
€69k▼
2024 · €97k
Current ratio
0.81▲
2024 · 0.61
Debt to equity
6.27▲
2024 · 4.85
ROE
7.7%▼
2024 · 43.2%
ROA
1.1%▼
2024 · 7.4%
Interest coverage
3.15▼
2024 · 10.39
Debt ≤ 1 year
€227k▲
2024 · €200k
Debt > 1 year
€661k▲
2024 · €434k
Income taxes
€0▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €31k | €38k | €41k | €58k | ▲ 43.6% |
| Other operating charges640/8 | €662 | €329 | €21k | €5k | €3k | ▼ 38.6% |
| Gross operating margin9900 | €-2k | €91k | €126k | €114k | €104k | ▼ 9.3% |
| Operating profit (loss)9901 | €-17k | €60k | €67k | €69k | €43k | ▼ 38.3% |
| Financial income75/76B | €0 | - | - | - | €332 | - |
| Recurring financial income75 | €0 | - | - | - | €332 | - |
| Financial charges65/66B | €11k | €12k | €11k | €11k | €32k | ▲ 204% |
| Recurring financial charges65 | €11k | €12k | €11k | €11k | €32k | ▲ 204% |
| Profit (loss) for the period before taxes9903 | €-28k | €48k | €56k | €59k | €11k | ▼ 81.5% |
| Income taxes67/77 | - | - | - | €2k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €-28k | €48k | €56k | €57k | €11k | ▼ 80.8% |
| Profit (loss) for the period to be appropriated9905 | €-28k | €48k | €56k | €57k | €11k | ▼ 80.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €882k | €776k | €733k | €765k | €1.03M | ▲ 34.5% |
| Fixed assets21/28 | €703k | €676k | €648k | €643k | €847k | ▲ 31.7% |
| Tangible fixed assets22/27 | €678k | €676k | €648k | €643k | €847k | ▲ 31.7% |
| Land and buildings22 | €678k | €676k | €648k | €640k | €840k | ▲ 31.3% |
| Plant, machinery and equipment23 | - | - | - | €3k | €6k | ▲ 123% |
| Furniture and vehicles24 | €441 | €226 | €12 | €0 | - | - |
| Financial fixed assets28 | €24k | €0 | - | - | - | - |
| Current assets29/58 | €179k | €100k | €85k | €123k | €183k | ▲ 48.8% |
| Amounts receivable within one year40/41 | €101k | €71k | €52k | €83k | €138k | ▲ 67.3% |
| Trade receivables40 | €100k | €71k | €50k | €79k | €134k | ▲ 70.3% |
| Other amounts receivable41 | €985 | €63 | €2k | €4k | €4k | ▲ 3.5% |
| Cash at bank and in hand54/58 | €78k | €11k | €13k | €21k | €25k | ▲ 18.9% |
| Deferred charges and accrued income490/1 | - | €17k | €20k | €19k | €20k | ▲ 1.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €882k | €776k | €733k | €765k | €1.03M | ▲ 34.5% |
| Equity10/15 | €-19k | €28k | €84k | €131k | €142k | ▲ 8.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | - | €9k | €64k | €111k | €122k | ▲ 9.9% |
| Distributable reserves133 | - | €9k | €64k | €111k | €122k | ▲ 9.9% |
| Profit (loss) carried forward14 | €-38k | €700 | €2k | €1k | €1k | ▼ 12.3% |
| Amounts payable17/49 | €901k | €747k | €649k | €635k | €888k | ▲ 39.9% |
| Amounts payable after more than one year17 | €493k | €559k | €497k | €434k | €661k | ▲ 52.2% |
| Financial debts170/4 | €493k | €559k | €497k | €434k | €661k | ▲ 52.2% |
| Amounts payable within one year42/48 | €409k | €188k | €152k | €200k | €227k | ▲ 13.2% |
| Current portion of amounts payable after more than one year42 | €30k | €61k | €57k | €63k | €92k | ▲ 46.4% |
| Trade debts44 | €337k | €72k | €21k | €42k | €40k | ▼ 3.7% |
| Suppliers440/4 | €337k | €72k | €21k | €42k | €40k | ▼ 3.7% |
| Advances received on contracts in progress46 | €25k | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €8k | €6k | €21k | €19k | ▼ 7.0% |
| Taxes450/3 | - | €8k | €6k | €21k | €19k | ▼ 7.0% |
| Other amounts payable47/48 | €16k | €47k | €68k | €75k | €75k | ▲ 0.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-28k | €48k | €56k | €57k | €11k | ▼ 80.8% |
| + Depreciation and write-downs630 | €14k | €31k | €38k | €41k | €58k | ▲ 43.6% |
| Operating cash flow (approximation) | €-14k | €78k | €94k | €97k | €69k | ▼ 28.8% |
| Investment in fixed assets (approximation) | - | €-4k | €-10k | €-35k | €-262k | ▼ 654% |
| Change in cash | - | €-67k | €2k | €8k | €4k | ▼ 51.4% |
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
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 120 days late
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2019net €57k ▲1.1%
Operating result €69k, net result €57k, both a record.
30-09
Financial
Equity above €100kEq €131k ▲55.3%
3 profitable years in a row build equity to €131k.
25-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €48k
Net result €48k after 3 loss-making years.
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
30-09
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
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, Destelbergen · 1 establishment unit since 2018
Ground area
443 m²
Building footprint
133 m²
Volume, LiDAR
567 m³
Parcel 44028A0698/00Z000, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FRAX
since 20182.281.509.680
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44028A0698/00Z000 | Flanders | 443 m² | 1 · 133 m² | 7.5 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 9,698 companies in sector 68121 we hold annual accounts for 7,384. 5,352 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded16-10-2018
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.