Summary
FREDANCO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €345,838 and a net result of €69,156. Equity is growing by ~30.3% per year across the filed fiscal years. Its solvency ranks better than 9% of 6167 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 6167 sector peers (2024).
NBB · sector comparisonPosition among 6167 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
30 d early
2022
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 32 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€345,838▲ 25.0%
2023 · €276,682
Net result
€69,156▼ 29.7%
2023 · €98,378
Total assets
€6.1m▼ 4.3%
2023 · €6.3m
Solvency
5.7%▲ 1.3pp
2023 · 4.4%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line202220232024
Operating result-€11,486-€151,920€149,572▼ 1.5%
Net result-€11,696below the sector's middle half-€98,378within the sector's middle half€69,156within the sector's middle half▼ 29.7%
Equity€178,304within the sector's middle half-€276,682within the sector's middle half▲ 55.2%€345,838within the sector's middle half▲ 25.0%
Total assets€4.5mabove the sector's middle half-€6.3mabove the sector's middle half▲ 39.4%€6.1mabove the sector's middle half▼ 4.3%
Debt€4.4m-€6.1m▲ 38.8%€5.7m▼ 5.6%
Working capital-€253,405below the sector's middle half--€142,867within the sector's middle half▲ 43.6%-€114,651within the sector's middle half▲ 19.7%
Solvency3.9%below the sector's middle half-4.4%below the sector's middle half▲ 0.4pp5.7%below the sector's middle half▲ 1.3pp
Current ratio0.09below the sector's middle half-0.69within the sector's middle half▲ 0.600.68within the sector's middle half▼ 0.01
Return on assets (ROA)-0.3%below the sector's middle half-1.6%within the sector's middle half▲ 1.8pp1.1%within the sector's middle half▼ 0.4pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 2% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.1m
Fixed assets
€5.8m ▼ 3.2%
Current assets
€247,847 ▼ 22.6%
Equity and liabilities €6.1m
Equity
€345,838 ▲ 25.0%
Debt
€5.7m ▼ 5.6%
Debt's share of the balance-sheet total falls from 95.6% to 94.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
20.0%▼
2023 · 35.6%
Debt ≤ 1 year
€362,498▼
2023 · €462,918
Debt > 1 year
€5.4m▼
2023 · €5.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €582 | €186,779 | €278,214 | ▲ 49.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €220 | - |
| Other operating charges640/8 | €1,697 | €748 | €25,956 | ▲ 3,368% |
| Gross operating margin9900 | -€9,207 | €339,447 | €453,962 | ▲ 33.7% |
| Operating profit (loss)9901 | -€11,486 | €151,920 | €149,572 | ▼ 1.5% |
| Financial income75/76B | - | €1,589 | €2 | ▼ 99.9% |
| Recurring financial income75 | - | €1,589 | €2 | ▼ 99.9% |
| Financial charges65/66B | €210 | €55,130 | €80,418 | ▲ 45.9% |
| Recurring financial charges65 | €210 | €55,130 | €80,418 | ▲ 45.9% |
| Profit (loss) for the period before taxes9903 | -€11,696 | €98,378 | €69,156 | ▼ 29.7% |
| Profit (loss) for the period9904 | -€11,696 | €98,378 | €69,156 | ▼ 29.7% |
| Profit (loss) for the period to be appropriated9905 | -€11,696 | €98,378 | €69,156 | ▼ 29.7% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €4.5m | €6.3m | €6.1m | ▼ 4.3% |
| Formation expenses20 | €31,824 | €27,853 | €21,119 | ▼ 24.2% |
| Fixed assets21/28 | €4.5m | €6.0m | €5.8m | ▼ 3.2% |
| Tangible fixed assets22/27 | €4.5m | €6.0m | €5.8m | ▼ 3.2% |
| Land and buildings22 | €1.4m | €4.7m | €4.5m | ▼ 3.7% |
| Plant, machinery and equipment23 | - | €1.3m | €1.3m | ▼ 3.4% |
| Furniture and vehicles24 | - | - | €26,943 | - |
| Assets under construction and advance payments27 | €3.1m | - | - | - |
| Financial fixed assets28 | €2,500 | €2,500 | - | - |
| Current assets29/58 | €25,967 | €320,051 | €247,847 | ▼ 22.6% |
| Amounts receivable within one year40/41 | €16,270 | €280,564 | €93,877 | ▼ 66.5% |
| Trade receivables40 | - | €274,164 | €92,787 | ▼ 66.2% |
| Other amounts receivable41 | €16,270 | €6,400 | €1,090 | ▼ 83.0% |
| Cash at bank and in hand54/58 | €4,313 | €39,487 | €153,970 | ▲ 290% |
| Deferred charges and accrued income490/1 | €5,383 | - | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €4.5m | €6.3m | €6.1m | ▼ 4.3% |
| Equity10/15 | €178,304 | €276,682 | €345,838 | ▲ 25.0% |
| Contributions10/11 | €190,000 | €190,000 | €190,000 | = |
| Reserves13 | - | €86,682 | €155,838 | ▲ 79.8% |
| Distributable reserves133 | - | €86,682 | €155,838 | ▲ 79.8% |
| Profit (loss) carried forward14 | -€11,696 | - | - | - |
| Amounts payable17/49 | €4.4m | €6.1m | €5.7m | ▼ 5.6% |
| Amounts payable after more than one year17 | €4.1m | €5.6m | €5.4m | ▼ 4.3% |
| Financial debts170/4 | €4.1m | €5.6m | €5.4m | ▼ 4.3% |
| Amounts payable within one year42/48 | €279,372 | €462,918 | €362,498 | ▼ 21.7% |
| Current portion of amounts payable after more than one year42 | - | €307,624 | €310,272 | ▲ 0.9% |
| Trade debts44 | €228,402 | €218 | €50,500 | ▲ 23,086% |
| Suppliers440/4 | €228,402 | €218 | €50,500 | ▲ 23,086% |
| Taxes, remuneration and social security45 | €970 | €64,710 | €1,726 | ▼ 97.3% |
| Taxes450/3 | €970 | €64,710 | €1,726 | ▼ 97.3% |
| Other amounts payable47/48 | €50,000 | €90,366 | - | - |
| Accrued charges and deferred income492/3 | €13,125 | €6 | - | - |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,696 | €98,378 | €69,156 | ▼ 29.7% |
| + Depreciation and write-downs630 | €582 | €186,779 | €278,214 | ▲ 49.0% |
| Operating cash flow (approximation) | -€11,114 | €285,158 | €347,370 | ▲ 21.8% |
| Investment in fixed assets (approximation) | - | -€1.7m | -€84,563 | ▲ 95.0% |
| Change in cash | - | €35,173 | €114,483 | ▲ 225% |
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
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €98,378
Net result €98,378 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €276,682 ▲55.2%
Equity rises from €178,304 to €276,682.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated 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, Oostende · 1 establishment unit since 2021
Ground area
1.6 ha
Building footprint
5,740 m²
Volume, LiDAR
269 m³
Parcel 35026B0110/00X000, Flanders · tallest building 1.5 m. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
John Cordierlaan 21, 8400 Oostende
since 20212.323.953.714
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35026B0110/00X000 | Flanders | 1.6 ha | 1 · 5,740 m² | 1.4 m |
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 24,729 companies in sector 64210 we hold annual accounts for 19,799. 13,783 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
Founded18-10-2021
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
66300Activities auxiliary to financial services and insurance activities
68110Buying and selling of own real estate
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID
0208:0775880234
Registered
24-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.