Equity
€173,168 from €671,881 in 2010
Equity fell by 74% in 15 years.
FRECO
Lifetime
20 annual accounts with figures on one time axis, 28 filings since 1998peak €93,586 (2006)
€31,968▲ 6.8%
peak €69,486 (2006)
€18,674▲ 27.9%
peak €671,881 (2010)
€173,168▲ 12.1%
€12,510▼ 54.4%
Board1 name since 2021
-
Owners
Documentsfilings and deeds
04-06-202657 days before the deadline
2025financial year
Result from €14,606 to €18,674Change of role: COOSEMANS Michèle Jeanne Renée, from manager… 22-12Equity from €154,494 to €173,168Debts from €27,462 to €12,510
Key points
from the 2025 annual accountsTurnover
≈ €110,000 estimated
The accounts state no turnover.
Liquidity
30.79 was 7.51 in 2024
Short-term debts fell from €20,071 to €5,160.
Filings
28 annual accounts since 1998
The last five annual accounts were filed 30 to 57 days before the end of the period.
At the same address
13 companies
Board
1 left
A director left. Latest change 22-12-2025 · 0 in office.
Checked score
97
Excellent
Financially stronger than 78% of micro companies without a NACE code
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: 0.1%▲ +0.1 percentage points vs 05-2025highest value
07-2025: < 0.1%▼ -0.1 percentage points vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Size: total assets €185,678
Liquidity: current ratio 30.79, cash €100,200
Founded in 1997
Equity €173,168 (93.3% of total assets)
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 (no NACE code, micro). It does better than 81% of them on solvency, 95% on liquidity, 64% on profitability and 70% on growth.
The bankruptcy probability was computed on 10-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 31,368 companies had the same profile as FRECO has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FRECO itself: < 0.1% within 12 months.
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 31,368 companies, not a prediction for FRECO. 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
Credit of up to €16,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 30.79 (7.51 in 2024), above the usual 1.5. Short-term debt is 2.8% and cash 54% of total assets. 6.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 days early
2024
40 days early
2023
30 days early
2022
46 days early
2021
30 days early
2020
98 days early
2019
63 days early
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 52 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (1)
Board and ownership
last known board- Michèle Coosemans 100%annual accounts 30-12-2019
Recent changes
Change of role: COOSEMANS Michèle Jeanne Renée, from manager to director
“Toutes opérations se rapportant aux affaires immobilières,l’achat,la vente,l’échange,la construction,le…” (deed in French) · Director discharge: COOSEMANS Michèle Jeanne Renée (manager) · General meeting of 16-12-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0462028618
Change of role: COOSEMANS Michèle Jeanne Renée, from director to manager
Legal-form conversion: from public limited company to private limited company (pre-2019) · Gazette deed
First establishment
Spiraalbuisstraat 33, Ixelles
Official details
Source: KBO- Status
- Active since 04-12-1997Normal situation
- Registered office
- 15 active companies are registered at this addressSource: KBO register, as of 10 November 2026.
- Activity
- “Toutes opérations se rapportant aux affaires immobilières,l’achat,la vente,l’échange,la construction,le lotissement,l’entretien,la réparation ainsi que toutes…” (deed in French)From the articles, 3 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.087.210.9601050 Ixelles, since 20-04-1998
- Financial year end
- 31 December
- Peppol
- Reachable since 09-12-2025
Annual accounts 2025
- €185,678▲ 2.0%
- Filing
- Filed on 04-06-2026, 57 days before the end of the filing period
Insights on FRECO
FRECO has existed since 1997. The gross margin fell from €93,586 in 2006 to €31,968 in 2025.
Solvency rose in 2025 from 84.9% to 93.3% because of the retained profit and lower debts.
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 FRECO
- What is the company number of FRECO?
- The company number of FRECO is 0462.028.618. The VAT number is the same number with BE in front: BE 0462.028.618.
- Where is FRECO based?
- The registered office is at Louizalaan 244, 1050 Ixelles.Company details
- What is the legal form of FRECO?
- FRECO is a private limited company (BV).
- When was FRECO founded?
- FRECO was founded on 04-12-1997.
- Is FRECO still active?
- Yes, FRECO is an active enterprise in the KBO register.
- What is the turnover of FRECO?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €31,968 and 1,231 comparable companies of the same size. It probably lies between €61,000 and €220,000. It is a rough estimate.Financials
- Is FRECO profitable?
- In financial year 2025, FRECO made a profit of €18,674.
- Where can I find the annual accounts of FRECO?
- FRECO filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
Next steps
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