Frelu
ActiveSummary
Frelu has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€16,606) and a net result of €6,357. Equity has been shrinking by about 18% per year since 2022. Its solvency ranks better than 19% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 17-11-2021 Normal situation
- Activity
- Development of residential building projects NACE 68121
- Establishment unit
- 2.324.497.211 8000 Bruges, since 17-11-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 27-03-2026
Board and ownership
- Roose FrederikDirector
- Roose WillyDirector
- Willy Roose50 sharesdeed of 14-09-2026
- Frederik Roose50 sharesdeed of 14-09-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.1%
- Gross margin
- -€8,195
- ▲ 45.6%
- Profit
- €6,357
- Equity
- -€16,606
- ▲ 27.7%
- Total assets
- €1.6m
- ▲ 1.3%
- Negative equity on 31-12-2025
Score breakdownraises riskCapped at 59: negative equityLiquidity: current ratio 0.99, cash €112, halvedNegative equity -€16,606lowers riskSector: Real estate activities (NACE 68)Size: total assets €1.6mShow the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 19% of them on solvency, 1% on liquidity, 34% on profitability and 79% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 11 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · 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.
Board & ownership
Directors
Owners and capital
Shareholders
- Willy Roose 50 shares
- Frederik Roose 50 shares
- Luc Perdu to Willy Roose 50 shares
Mandate history
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Roose Frederik |
|
| Roose Willy |
|
| Luc Perdu |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director“Vaste vertegenwoordiger van rechtspersoon-bestuurder, uitdrukkelijk akkoord van de bestuurde vennootschap vereist”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- 100 shares
Audit, dissolution and liquidation
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Articles of association, deed of 19-11-2021 (in Dutch)
Network & group
Frelu shares no director with another company.
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of Frelu. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
14-09
Gazette deed
Transfer of 50 shares from Luc Perdu to Willy RooseWilly Roose holds 50 shares · Frederik Roose holds 50 shares3 points ▸
- Share transfer, Luc Perdu → Willy Roose, 50 shares
- Willy Roose holds 50 shares
- Frederik Roose holds 50 shares
07-07
Gazette deed
Resignation: Luc Perdu (statutory director)Director discharge: Luc Perdu4 points ▸
- General meeting, 10-06-2026
- Director resignation, Luc Perdu (statutory director)
- Director discharge, Luc Perdu
- Power of attorney, Astrid Dobbels
- The deed holds 1 more point.
19-11
Gazette deed
IncorporationFounders: PERDU Luc Oscar Jerôme (comparant) and ROOSE Frederik Henri Willy Achiel (comparant) · Founding capital of €5,000, 100 shares · Appointments: PERDU Luc Oscar Jerôme (statutory director) and ROOSE Frederik Henri Willy Achiel (statutory director)8 points ▸
- Registered office clause, Vaartstraat 51, 8000 Brugge
- Founder, PERDU Luc Oscar Jerôme (comparant)
- Founder, ROOSE Frederik Henri Willy Achiel (comparant)
- Founding capital, €5,000, 100 shares
- 100 shares
- Director appointment, PERDU Luc Oscar Jerôme (statutory director)
- Director appointment, ROOSE Frederik Henri Willy Achiel (statutory director)
- Director appointment, Willy Roose (statutory director)
- The deed holds 3 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
3 activities
- Alle werken,zowel voor rekening van openbare,industriële,als private opdrachtgevers,als daar zijn:de aanneming en de onderaanneming,het uitvoeren en het laten uitvoeren van alle welkdanige bouwwerken,afbraak-en voltooiingswerken,grondwerken en kunstwerken van de burgerlijke bouwkunde;
- Het oprichten of het laten oprichten van flatgebouwen en andere gebouwen om deze te verkopen of te verhuren;
- De fabricatie,de montage van en de handel in geprefabriceerde onderdelen alsook van materieel,beiden bestemd voor het bouwvak en de aanverwante nijverheden:de handel in bouwmaterialen.
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0777.445.793
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31808K0578/00D000 | Flanders | 303 m² | 1 · 196 m² | 9.9 m · 3 |