Frelu
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2025 is a loss of €8,323, smaller than the loss of €16,155 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €807 | €499 | €1,094 | €128 | ▼ 88.3% |
| Gross operating margin9900 | -€13,706 | -€26,384 | -€15,062 | -€8,195 | ▲ 45.6% |
| Operating profit (loss)9901 | -€14,513 | -€26,884 | -€16,155 | -€8,323 | ▲ 48.5% |
| Financial income75/76B | €8,141 | €7,653 | €14,581 | €14,766 | ▲ 1.3% |
| Recurring financial income75 | €8,141 | €7,653 | €14,581 | €14,766 | ▲ 1.3% |
| Financial charges65/66B | €72 | €640 | €73 | €86 | ▲ 18.0% |
| Recurring financial charges65 | €72 | €640 | €73 | €86 | ▲ 18.0% |
| Profit (loss) for the period before taxes9903 | -€6,444 | -€19,871 | -€1,647 | €6,357 | - |
| Profit (loss) for the period9904 | -€6,444 | -€19,871 | -€1,647 | €6,357 | - |
| Profit (loss) for the period to be appropriated9905 | -€6,444 | -€19,871 | -€1,647 | €6,357 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.2m | €1.6m | €1.6m | €1.6m | ▲ 1.3% |
| Current assets29/58 | €1.2m | €1.6m | €1.6m | €1.6m | ▲ 1.3% |
| Stocks and contracts in progress3 | €0.8m | €0.6m | €0.6m | €0.6m | ▲ 1.5% |
| Stocks30/36 | €0.8m | €0.6m | €0.6m | €0.6m | ▲ 1.5% |
| Amounts receivable within one year40/41 | €0.4m | €1.0m | €1.0m | €1.0m | ▲ 1.5% |
| Trade receivables40 | €0.3m | €0.04m | €0 | - | - |
| Other amounts receivable41 | €0.01m | €1.0m | €1.0m | €1.0m | ▲ 1.5% |
| Cash at bank and in hand54/58 | €0.03m | €0.009m | €0.003m | €112 | ▼ 96.6% |
| Deferred charges and accrued income490/1 | €0.002m | €385 | €0 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.2m | €1.6m | €1.6m | €1.6m | ▲ 1.3% |
| Equity10/15 | -€0.001m | -€0.02m | -€0.02m | -€0.02m | ▲ 27.7% |
| Contributions10/11 | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Profit (loss) carried forward14 | -€0.006m | -€0.03m | -€0.03m | -€0.02m | ▲ 22.7% |
| Amounts payable17/49 | €1.2m | €1.6m | €1.6m | €1.6m | ▲ 0.9% |
| Amounts payable within one year42/48 | €1.2m | €1.6m | €1.6m | €1.6m | ▲ 0.9% |
| Trade debts44 | €0.3m | €0.09m | €0.01m | €0.001m | ▼ 90.4% |
| Suppliers440/4 | €0.3m | €0.09m | €0.01m | €0.001m | ▼ 90.4% |
| Taxes, remuneration and social security45 | - | €0.02m | €0.001m | €0 | ▼ 100% |
| Taxes450/3 | - | €0.02m | €0.001m | €0 | ▼ 100% |
| Other amounts payable47/48 | €0.9m | €1.5m | €1.6m | €1.6m | ▲ 1.6% |
| Accrued charges and deferred income492/3 | €0.001m | €0 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,444 | -€19,871 | -€1,647 | €6,357 | - |
| Operating cash flow (approximation) | -€6,444 | -€19,871 | -€1,647 | €6,357 | - |
| Change in cash | - | -€23,489 | -€5,302 | -€3,187 | ▲ 39.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 262 companies had the same profile as Frelu has now. Two years later, 97.3% were still going and 1.1% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a profit under 5% of the balance sheet
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Frelu itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 262 companies, not a prediction for Frelu. 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.