FREKA
ActiveSummary
FREKA has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€40,226) and a net result of -€44,705. Equity is shrinking by ~49.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
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Signals
This company filed its last 7 accounts on average 14 days 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 (1)
History
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Financials · fiscal year 2024, micro schema
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Peer companies
Historical observationOf the 1,242 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 93% are still going.
- Small
- 20 years or older
- negative equity
- a small loss
A further 1.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 1,242 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,447 | €29,398 | €30,348 | €35,608 | €30,210 | ▼ 15.2% |
| Other operating charges640/8 | - | - | €10,085 | €10,946 | €23,062 | ▲ 111% |
| Gross operating margin9900 | €12,302 | €24,236 | €20,628 | €31,891 | €9,547 | ▼ 70.1% |
| Operating profit (loss)9901 | -€22,099 | -€15,293 | -€19,805 | -€14,663 | -€43,724 | ▼ 198% |
| Financial income75/76B | - | - | €400 | €0 | - | - |
| Recurring financial income75 | - | - | €400 | €0 | - | - |
| Financial charges65/66B | - | - | €882 | €1,124 | €980 | ▼ 12.8% |
| Recurring financial charges65 | €1,353 | €2,148 | €882 | €1,124 | €980 | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | -€23,452 | -€17,441 | -€20,287 | -€15,786 | -€44,705 | ▼ 183% |
| Profit (loss) for the period9904 | -€23,452 | -€17,441 | -€20,287 | -€15,786 | -€44,705 | ▼ 183% |
| Profit (loss) for the period to be appropriated9905 | -€23,452 | -€17,441 | -€20,287 | -€15,786 | -€44,705 | ▼ 183% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | ▼ 1.5% |
| Fixed assets21/28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 2.4% |
| Tangible fixed assets22/27 | €1.3m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 2.4% |
| Land and buildings22 | - | - | €375,273 | €360,705 | €351,248 | ▼ 2.6% |
| Plant, machinery and equipment23 | - | - | €874,281 | €865,638 | €857,419 | ▼ 0.9% |
| Furniture and vehicles24 | - | - | €15,739 | €27,341 | €14,808 | ▼ 45.8% |
| Current assets29/58 | €12,147 | €10,772 | €14,831 | €23,488 | €34,208 | ▲ 45.6% |
| Cash at bank and in hand54/58 | €12,147 | €10,772 | €14,831 | €23,488 | €34,208 | ▲ 45.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | ▼ 1.5% |
| Equity10/15 | €54,903 | €37,462 | €20,265 | €4,478 | -€40,226 | ▼ 998% |
| Contributions10/11 | €155,429 | €155,429 | €155,429 | €155,429 | €155,429 | = |
| Capital10 | - | - | €155,429 | €155,429 | €155,429 | = |
| Issued capital100 | - | - | €155,429 | €155,429 | €155,429 | = |
| Reserves13 | €521 | €521 | €521 | €521 | €521 | = |
| Non-distributable reserves130/1 | - | - | €521 | €521 | €521 | = |
| Legal reserve130 | - | - | €521 | €521 | €521 | = |
| Profit (loss) carried forward14 | -€101,047 | -€118,488 | -€135,685 | -€151,472 | -€196,176 | ▼ 29.5% |
| Amounts payable17/49 | €1.2m | €1.2m | €1.3m | €1.3m | €1.3m | ▲ 2.0% |
| Amounts payable after more than one year17 | €42,442 | €29,029 | €11,738 | €6,774 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | €11,738 | €6,774 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €1.2m | €1.2m | €1.2m | €1.3m | €1.3m | ▲ 2.5% |
| Current portion of amounts payable after more than one year42 | - | - | €14,221 | €4,965 | €4,254 | ▼ 14.3% |
| Other amounts payable47/48 | - | - | €1.2m | €1.3m | €1.3m | ▲ 2.6% |
| Accrued charges and deferred income492/3 | - | - | €1,035 | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€23,452 | -€17,441 | -€20,287 | -€15,786 | -€44,705 | ▼ 183% |
| + Depreciation and write-downs630 | €25,447 | €29,398 | €30,348 | €35,608 | €30,210 | ▼ 15.2% |
| Operating cash flow (approximation) | €1,995 | €11,957 | €10,061 | €19,822 | -€14,495 | ▼ 173% |
| Investment in fixed assets (approximation) | - | -€36,548 | -€36,315 | -€24,000 | €0 | ▲ 100% |
| Change in cash | - | -€1,376 | €4,060 | €8,657 | €10,720 | ▲ 23.8% |
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
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H0579/00L002 | Flanders | 348 m² | 1 · 211 m² | 19.1 m · 3 fl. |
Linked by address, not proof of ownership
Identification & contact
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.