FREDENCO
ActiveSummary
FREDENCO has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79,716 and a net result of €3,425. Equity is shrinking by ~6.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability48▼-21
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 9.68 against 1.85 in 2024; short-term debt: 3.3% of total assets), and 3.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
96.7%
Return on assets
4.2%
Age of the figures
9 mo
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
29 d late
2023
15 d early
2022
19 d early
2021
31 d early
2020
31 d late
2019
21 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 1 day before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€3,425▲ 697%
2024 · €430
Working capital
€23,902▲ 157%
2024 · €9,289
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-€7,792▲ 31.7%-€8,566▼ 9.9%-€2,859▲ 66.6%-€640▲ 77.6%€2,155
Net result-€8,152▲ 27.9%-€8,453▼ 3.7%-€2,123▲ 74.9%€430€3,425▲ 697%
Equity€86,436▼ 8.6%€77,983▼ 9.8%€75,861▼ 2.7%€76,290▲ 0.6%€79,716▲ 4.5%
Total assets€119,801▼ 11.4%€104,137▼ 13.1%€94,749▼ 9.0%€87,217▼ 7.9%€82,470▼ 5.4%
Debt€33,365▼ 17.9%€26,154▼ 21.6%€18,888▼ 27.8%€10,927▼ 42.1%€2,754▼ 74.8%
Working capital-€25,160▲ 31.8%-€13,703▲ 45.5%-€3,483▲ 74.6%€9,289€23,902▲ 157%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €2,155 after a loss of €640 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €82,470
Fixed assets
€55,814 ▼ 16.7%
Current assets
€26,656 ▲ 31.9%
Equity and liabilities €82,470
Equity
€79,716 ▲ 4.5%
Debt
€2,754 ▼ 74.8%
Debt's share of the balance-sheet total falls from 12.5% to 3.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€13,343▲
2024 · €11,703
Cash flow
€14,613▲
2024 · €12,772
Current ratio
9.68▲
2024 · 1.85
Debt to equity
0.03▼
2024 · 0.14
ROE
4.3%▲
2024 · 0.6%
ROA
4.2%▲
2024 · 0.5%
Debt ≤ 1 year
€2,754▼
2024 · €10,927
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 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% | 1.7% |
| 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 75% 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 17,027 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,909 | €19,909 | €12,343 | €12,343 | €11,187 | ▼ 9.4% |
| Other operating charges640/8 | €2,703 | €2,749 | €3,113 | €3,464 | €3,571 | ▲ 3.1% |
| Gross operating margin9900 | €14,820 | €14,093 | €12,597 | €15,167 | €16,914 | ▲ 11.5% |
| Operating profit (loss)9901 | -€7,792 | -€8,566 | -€2,859 | -€640 | €2,155 | ▲ 437% |
| Financial income75/76B | €371 | €710 | €736 | €1,079 | €1,270 | ▲ 17.7% |
| Recurring financial income75 | €371 | €710 | €736 | €1,079 | €1,270 | ▲ 17.7% |
| Financial charges65/66B | €731 | €597 | €0 | €10 | €0 | ▼ 100% |
| Recurring financial charges65 | €731 | €597 | €0 | €10 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | -€8,152 | -€8,453 | -€2,123 | €430 | €3,425 | ▲ 697% |
| Profit (loss) for the period9904 | -€8,152 | -€8,453 | -€2,123 | €430 | €3,425 | ▲ 697% |
| Profit (loss) for the period to be appropriated9905 | -€8,152 | -€8,453 | -€2,123 | €430 | €3,425 | ▲ 697% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119,801 | €104,137 | €94,749 | €87,217 | €82,470 | ▼ 5.4% |
| Fixed assets21/28 | €111,596 | €91,686 | €79,344 | €67,001 | €55,814 | ▼ 16.7% |
| Tangible fixed assets22/27 | €111,596 | €91,686 | €79,344 | €67,001 | €55,814 | ▼ 16.7% |
| Land and buildings22 | €111,596 | €91,686 | €79,344 | €67,001 | €55,814 | ▼ 16.7% |
| Current assets29/58 | €8,205 | €12,451 | €15,405 | €20,216 | €26,656 | ▲ 31.9% |
| Amounts receivable within one year40/41 | €8,148 | €12,451 | €15,405 | €20,216 | €26,656 | ▲ 31.9% |
| Other amounts receivable41 | €8,148 | €12,451 | €15,405 | €20,216 | €26,656 | ▲ 31.9% |
| Cash at bank and in hand54/58 | €57 | €0 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119,801 | €104,137 | €94,749 | €87,217 | €82,470 | ▼ 5.4% |
| Equity10/15 | €86,436 | €77,983 | €75,861 | €76,290 | €79,716 | ▲ 4.5% |
| Contributions10/11 | €148,755 | €148,755 | €148,755 | €148,755 | €148,755 | = |
| Capital10 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Issued capital100 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Outside capital11 | €19 | €19 | €19 | €19 | €19 | = |
| Share premium1100/10 | €19 | €19 | €19 | €19 | €19 | = |
| Profit (loss) carried forward14 | -€62,320 | -€70,772 | -€72,895 | -€72,465 | -€69,040 | ▲ 4.7% |
| Amounts payable17/49 | €33,365 | €26,154 | €18,888 | €10,927 | €2,754 | ▼ 74.8% |
| Amounts payable within one year42/48 | €33,365 | €26,154 | €18,888 | €10,927 | €2,754 | ▼ 74.8% |
| Trade debts44 | - | - | €534 | €373 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | €534 | €373 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €0 | - | - | - | - | - |
| Taxes450/3 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €33,365 | €26,154 | €18,354 | €10,554 | €2,754 | ▼ 73.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,152 | -€8,453 | -€2,123 | €430 | €3,425 | ▲ 697% |
| + Depreciation and write-downs630 | €19,909 | €19,909 | €12,343 | €12,343 | €11,187 | ▼ 9.4% |
| Operating cash flow (approximation) | €11,758 | €11,457 | €10,220 | €12,772 | €14,613 | ▲ 14.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€57 | - | - | - | - |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €3,425 ▲697%
Operating result €2,155, net result €3,425, both a record.
31-12
Financial
Liquidity times 5current ratio 9.68
Current ratio from 1.85 to 9.68; short-term debt falls from €10,927 to €2,754.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Back to profitnet €430
Net result €430 after 6 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 1.85
Current ratio from 0.82 to 1.85; short-term debt falls from €18,888 to €10,927.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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, Kortrijk · 1 establishment unit since 1992
Ground area
2,388 m²
Building footprint
312 m²
Volume, LiDAR
1,678 m³
Parcel 34026B0380/00N002, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Edward Vermeulenstraat(Mar) 9, 8510 Kortrijk
since 19922.057.252.610
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026B0380/00N002 | Flanders | 2,388 m² | 1 · 312 m² | 8.7 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.
Identification & contact
Identification
Legal formPublic limited company
Founded19-10-1990
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442285950
Also
9925:BE0442285950
Registered
26-01-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.