FREDAN
ActiveSummary
FREDAN has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€144,094) and a net result of -€3,619. Equity is shrinking by ~12.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.14 against 0.14 in 2024; short-term debt: 721.5% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-785%
Return on assets
-19.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€144,094
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-09-2026, 41 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
41 d late
2024
31 d late
2023
31 d late
2022
31 d early
2021
41 d early
2020
3 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€144,094▼ 2.6%
2024 · -€140,476
Total assets
€18,357▼ 0.8%
2024 · €18,500
Net result
-€3,619▲ 73.7%
2024 · -€13,760
Working capital
-€114,094▼ 3.3%
2024 · -€110,476
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€13,910▲ 20.2%-€765▲ 94.5%-€22,705▼ 2,866%-€13,022▲ 42.6%-€4,398▲ 66.2%
Net result-€14,468below the sector's middle half▲ 19.2%-€1,577below the sector's middle half▲ 89.1%-€23,443below the sector's middle half▼ 1,387%-€13,760below the sector's middle half▲ 41.3%-€3,619below the sector's middle half▲ 73.7%
Equity-€101,697below the sector's middle half▼ 16.6%-€103,273below the sector's middle half▼ 1.6%-€126,716below the sector's middle half▼ 22.7%-€140,476below the sector's middle half▼ 10.9%-€144,094below the sector's middle half▼ 2.6%
Total assets€28,848below the sector's middle half▼ 25.4%€24,707below the sector's middle half▼ 14.4%€12,890below the sector's middle half▼ 47.8%€18,500below the sector's middle half▲ 43.5%€18,357below the sector's middle half▼ 0.8%
Debt€130,545▲ 3.7%€127,980▼ 2.0%€139,606▲ 9.1%€158,976▲ 13.9%€162,451▲ 2.2%
Working capital-€79,215▼ 15.4%-€76,942▲ 2.9%-€96,716▼ 25.7%-€110,476▼ 14.2%-€114,094▼ 3.3%
Solvency-352.5%below the sector's middle half▼ 127.0pp-418.0%below the sector's middle half▼ 65.5pp-983.1%below the sector's middle half▼ 565.1pp-759.3%below the sector's middle half▲ 223.7pp-785.0%below the sector's middle half▼ 25.6pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,398 in 2025 against €13,022 in 2024; the loss shrinks.
Key figures and ratios
Current ratio
0.14▼
2024 · 0.14
Debt to equity
-1.13▲
2024 · -1.13
ROA
-19.7%▲
2024 · -74.4%
Debt ≤ 1 year
€132,451▲
2024 · €128,976
Debt > 1 year
€30,000=
2024 · €30,000
Staff costs
€2,802
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,640 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.9%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,640 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €2,802 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,100 | €8,100 | €8,100 | €1,215 | - | - |
| Other operating charges640/8 | €857 | €606 | €442 | €483 | €617 | ▲ 27.8% |
| Non-recurring operating charges66A | €106 | €570 | €64 | - | - | - |
| Gross operating margin9900 | -€4,847 | €8,511 | -€14,100 | -€11,324 | -€979 | ▲ 91.4% |
| Operating profit (loss)9901 | -€13,910 | -€765 | -€22,705 | -€13,022 | -€4,398 | ▲ 66.2% |
| Financial income75/76B | €8 | €10 | €150 | €23 | €1,245 | ▲ 5,432% |
| Recurring financial income75 | €8 | €10 | €150 | €23 | €30 | ▲ 31.7% |
| Non-recurring financial income76B | - | - | - | - | €1,215 | - |
| Financial charges65/66B | €565 | €822 | €885 | €758 | €465 | ▼ 38.6% |
| Recurring financial charges65 | €565 | €822 | €885 | €758 | €465 | ▼ 38.6% |
| Profit (loss) for the period before taxes9903 | -€14,467 | -€1,577 | -€23,440 | -€13,757 | -€3,619 | ▲ 73.7% |
| Income taxes67/77 | €1 | - | €2 | €2 | - | - |
| Profit (loss) for the period9904 | -€14,468 | -€1,577 | -€23,443 | -€13,760 | -€3,619 | ▲ 73.7% |
| Profit (loss) for the period to be appropriated9905 | -€14,468 | -€1,577 | -€23,443 | -€13,760 | -€3,619 | ▲ 73.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28,848 | €24,707 | €12,890 | €18,500 | €18,357 | ▼ 0.8% |
| Fixed assets21/28 | €16,200 | €8,100 | - | - | - | - |
| Tangible fixed assets22/27 | €16,200 | €8,100 | - | - | - | - |
| Leasing and similar rights25 | €16,200 | €8,100 | - | - | - | - |
| Current assets29/58 | €12,648 | €16,607 | €12,890 | €18,500 | €18,357 | ▼ 0.8% |
| Amounts receivable within one year40/41 | €10,751 | €10,856 | €10,734 | €12,955 | €18,357 | ▲ 41.7% |
| Trade receivables40 | €7,493 | €9,656 | €8,725 | €9,499 | €17,451 | ▲ 83.7% |
| Other amounts receivable41 | €3,258 | €1,200 | €2,009 | €3,456 | €906 | ▼ 73.8% |
| Cash at bank and in hand54/58 | - | €3,925 | - | €3,381 | - | - |
| Deferred charges and accrued income490/1 | €1,897 | €1,826 | €2,156 | €2,164 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28,848 | €24,707 | €12,890 | €18,500 | €18,357 | ▼ 0.8% |
| Equity10/15 | -€101,697 | -€103,273 | -€126,716 | -€140,476 | -€144,094 | ▼ 2.6% |
| Contributions10/11 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Profit (loss) carried forward14 | -€120,697 | -€122,273 | -€145,716 | -€159,476 | -€163,094 | ▼ 2.3% |
| Amounts payable17/49 | €130,545 | €127,980 | €139,606 | €158,976 | €162,451 | ▲ 2.2% |
| Amounts payable after more than one year17 | €38,682 | €34,431 | €30,000 | €30,000 | €30,000 | = |
| Financial debts170/4 | €38,682 | €34,431 | €30,000 | €30,000 | €30,000 | = |
| Amounts payable within one year42/48 | €91,863 | €93,549 | €109,606 | €128,976 | €132,451 | ▲ 2.7% |
| Current portion of amounts payable after more than one year42 | €4,209 | €4,251 | €9,014 | €1,215 | €3,614 | ▲ 197% |
| Financial debts43 | €1,781 | - | - | - | - | - |
| Credit institutions430/8 | €1,781 | - | - | - | - | - |
| Trade debts44 | €11,493 | €6,637 | €9,674 | €12,932 | €10,825 | ▼ 16.3% |
| Suppliers440/4 | €11,493 | €6,637 | €9,674 | €12,932 | €10,825 | ▼ 16.3% |
| Advances received on contracts in progress46 | €1,000 | €3,000 | €3,641 | €15,605 | €9,905 | ▼ 36.5% |
| Other amounts payable47/48 | €73,380 | €79,662 | €87,277 | €99,224 | €108,107 | ▲ 9.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,468 | -€1,577 | -€23,443 | -€13,760 | -€3,619 | ▲ 73.7% |
| + Depreciation and write-downs630 | €8,100 | €8,100 | €8,100 | €1,215 | - | - |
| Operating cash flow (approximation) | -€6,368 | €6,523 | -€15,343 | -€12,545 | -€3,619 | ▲ 71.2% |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - |
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
10-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 41 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Weakest financial yearnet -€23,443
Net result drops to -€23,443, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Vilvoorde · 1 establishment unit since 1995
Ground area
96 m²
Building footprint
77 m²
Volume, LiDAR
583 m³
Parcel 23643G0474/00B004, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FREDAN
since 19952.070.870.420
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23643G0474/00B004 | Flanders | 96 m² | 1 · 76 m² | 10.9 m · 3 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.
Similar companies · same sector and region
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b.d. – Bernard DOCQUIR
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded10-03-1995
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454705811
Also
9925:BE0454705811
Registered
10-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.