FREPPLE
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 22-07-2026 at the NBB all 16 filings
Turnover
≈ €670,000
Estimated: probably between €460,000 and €1.1m
Total assets
€641,954▲ 4.2%
2025 · €616,221
Net result
€126,647▼ 16.2%
2025 · €151,151
Working capital
€71,482▲ 56.5%
2025 · €45,679
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€178,863
▼ 18.0%
2026
20192026
Net result
€126,647
▼ 16.2%
2026
20192026
Equity
€548,242
▲ 12.4%
2026
20192026
Total assets
€641,954
▲ 4.2%
2026
20192026
Debt
€93,712
▼ 27.0%
2026
20192026
Working capital
€71,482
▲ 56.5%
2026
20192026
Solvency
85.4%
▲ 6.2pp
2026
20192026
Current ratio
1.76
▲ 0.41
2026
20192026
Return on assets (ROA)
19.7%
▼ 4.8pp
2026
20192026
Staff (FTE)
1
▲ 66.7%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€89,898-€46,099▼ 48.7%-€13,594€83,400€126,155▲ 51.3%€122,909▼ 2.6%€218,185▲ 77.5%€178,863▼ 18.0%
Net result€88,510-€37,020▼ 58.2%-€26,865below the sector's middle half€67,535above the sector's middle half€87,622above the sector's middle half▲ 29.7%€93,600above the sector's middle half▲ 6.8%€151,151above the sector's middle half▲ 61.5%€126,647▼ 16.2%
Equity€157,045-€194,065▲ 23.6%€167,200above the sector's middle half▼ 13.8%€234,735above the sector's middle half▲ 40.4%€322,357above the sector's middle half▲ 37.3%€415,957above the sector's middle half▲ 29.0%€487,933above the sector's middle half▲ 17.3%€548,242▲ 12.4%
Total assets€201,568-€254,745▲ 26.4%€200,416within the sector's middle half▼ 21.3%€275,460within the sector's middle half▲ 37.4%€352,028above the sector's middle half▲ 27.8%€426,718above the sector's middle half▲ 21.2%€616,221above the sector's middle half▲ 44.4%€641,954▲ 4.2%
Debt€44,523-€60,680▲ 36.3%€33,216▼ 45.3%€40,725▲ 22.6%€29,671▼ 27.1%€10,762▼ 63.7%€128,288▲ 12×€93,712▼ 27.0%
Working capital€157,045-€194,065▲ 23.6%€165,971above the sector's middle half▼ 14.5%€209,747above the sector's middle half▲ 26.4%€306,637above the sector's middle half▲ 46.2%€185,168above the sector's middle half▼ 39.6%€45,679within the sector's middle half▼ 75.3%€71,482▲ 56.5%
Solvency77.9%-76.2%▼ 1.7pp83.4%above the sector's middle half▲ 7.2pp85.2%above the sector's middle half▲ 1.8pp91.6%above the sector's middle half▲ 6.4pp97.5%above the sector's middle half▲ 5.9pp79.2%within the sector's middle half▼ 18.3pp85.4%▲ 6.2pp
Current ratio4.53-4.20▼ 0.336.00above the sector's middle half▲ 1.806.15above the sector's middle half▲ 0.1511.33above the sector's middle half▲ 5.1818.21above the sector's middle half▲ 6.871.36within the sector's middle half▼ 16.851.76▲ 0.41
Return on assets (ROA)43.9%-14.5%▼ 29.4pp-13.4%below the sector's middle half▼ 27.9pp24.5%within the sector's middle half▲ 37.9pp24.9%within the sector's middle half▲ 0.4pp21.9%within the sector's middle half▼ 3.0pp24.5%within the sector's middle half▲ 2.6pp19.7%▼ 4.8pp
Staff (FTE)10.9▼ 10.0%0.61▲ 66.7%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is 18% lower than in 2025.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €641,954
Fixed assets
€476,760 ▲ 7.8%
Current assets
€165,194 ▼ 5.0%
Equity and liabilities €641,954
Equity
€548,242 ▲ 12.4%
Debt
€93,712 ▼ 27.0%
Debt's share of the balance-sheet total falls from 20.8% to 14.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€192,347▼
2025 · €234,219
Cash flow
€140,131▼
2025 · €167,184
Debt to equity
0.17▼
2025 · 0.26
ROE
23.1%▼
2025 · 31.0%
Interest coverage
15.03▼
2025 · 19.32
Debt ≤ 1 year
€93,712▼
2025 · €128,288
Income taxes
€43,286▼
2025 · €56,240
Staff costs
€63,389▲
2025 · €32,218
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2025 | 31-03-2026 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| in full-time equivalents | 1 | 1 |
| Average over the year, in full-time equivalents | 0.6 | 1 |
| On a permanent contract | 1 | 1 |
| Joined | 1 | - |
| Left | 0 | - |
Source: social balance sheet in the 2025 to 2026 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €26,421 | - | €226,681 | €227,499 | €47,990 |
| Depreciation and write-downs of the year | €2,663 | €9,268 | €11,612 | €16,033 | €13,484 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €16,271 awarded · €16,271 paidSchemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €788 | €514 | €37,595 | ▲ 73× |
| Remuneration, social security and pensions62 | - | - | - | - | -€176 | - | €32,218 | €63,389 | ▲ 96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €154 | €2,663 | €9,268 | €11,612 | €16,033 | €13,484 | ▼ 15.9% |
| Other operating charges640/8 | - | - | - | €567 | €348 | €35,799 | €387 | €400 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €694 | - | - | - | - |
| Gross operating margin9900 | €122,570 | €132,594 | €51,369 | €86,630 | €136,289 | €170,320 | €266,824 | €256,136 | ▼ 4.0% |
| Operating profit (loss)9901 | €89,898 | €46,099 | -€13,594 | €83,400 | €126,155 | €122,909 | €218,185 | €178,863 | ▼ 18.0% |
| Financial income75/76B | - | - | - | €9,392 | €2,133 | €2,723 | €1,332 | €3,870 | ▲ 191% |
| Recurring financial income75 | €504 | €3,265 | €1,955 | €9,392 | €2,133 | €2,723 | €1,332 | €3,870 | ▲ 191% |
| Financial charges65/66B | - | - | - | €6,291 | €16,811 | €7,366 | €12,126 | €12,801 | ▲ 5.6% |
| Recurring financial charges65 | €264 | €1,201 | €15,113 | €6,291 | €16,811 | €7,366 | €12,126 | €12,801 | ▲ 5.6% |
| Profit (loss) for the period before taxes9903 | €90,137 | €48,163 | -€26,752 | €86,501 | €111,477 | €118,267 | €207,391 | €169,933 | ▼ 18.1% |
| Income taxes67/77 | €1,628 | €11,143 | €113 | €18,966 | €23,855 | €24,667 | €56,240 | €43,286 | ▼ 23.0% |
| Profit (loss) for the period9904 | €88,510 | €37,020 | -€26,865 | €67,535 | €87,622 | €93,600 | €151,151 | €126,647 | ▼ 16.2% |
| Profit (loss) for the period to be appropriated9905 | €88,510 | €37,020 | -€26,865 | €67,535 | €87,622 | €93,600 | €151,151 | €126,647 | ▼ 16.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €201,568 | €254,745 | €200,416 | €275,460 | €352,028 | €426,718 | €616,221 | €641,954 | ▲ 4.2% |
| Fixed assets21/28 | - | - | €1,229 | €24,988 | €15,720 | €230,789 | €442,254 | €476,760 | ▲ 7.8% |
| Tangible fixed assets22/27 | - | - | €1,229 | €24,988 | €15,720 | €230,789 | €442,254 | €476,760 | ▲ 7.8% |
| Land and buildings22 | - | - | - | - | - | €223,353 | €440,455 | €475,903 | ▲ 8.0% |
| Plant, machinery and equipment23 | - | - | - | €768 | €307 | €830 | €1,799 | €856 | ▼ 52.4% |
| Furniture and vehicles24 | - | - | - | €24,220 | €15,412 | €6,605 | - | - | - |
| Current assets29/58 | €201,568 | €254,745 | €199,186 | €250,472 | €336,308 | €195,930 | €173,967 | €165,194 | ▼ 5.0% |
| Amounts receivable within one year40/41 | €32,265 | €58,120 | €28,339 | €68,879 | €37,571 | €77,027 | €48,720 | €37,430 | ▼ 23.2% |
| Trade receivables40 | - | - | - | €68,879 | €30,956 | €75,268 | €48,720 | €37,430 | ▼ 23.2% |
| Other amounts receivable41 | - | - | - | - | €6,615 | €1,758 | - | - | - |
| Cash at bank and in hand54/58 | €167,515 | €194,641 | €168,848 | €180,633 | €295,152 | €114,257 | €124,052 | €122,615 | ▼ 1.2% |
| Deferred charges and accrued income490/1 | - | - | - | €960 | €3,586 | €4,646 | €1,195 | €5,149 | ▲ 331% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €201,568 | €254,745 | €200,416 | €275,460 | €352,028 | €426,718 | €616,221 | €641,954 | ▲ 4.2% |
| Equity10/15 | €157,045 | €194,065 | €167,200 | €234,735 | €322,357 | €415,957 | €487,933 | €548,242 | ▲ 12.4% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Contributions outside capital11 | - | - | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Share premium1100/10 | - | - | - | - | - | €12,400 | €12,400 | €12,400 | = |
| Other1109/19 | - | - | - | €12,400 | €12,400 | - | - | - | - |
| Reserves13 | €144,645 | €181,665 | €154,800 | €222,335 | €309,957 | €403,557 | €475,533 | €535,842 | ▲ 12.7% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €220,475 | €308,097 | €403,557 | €475,533 | €535,842 | ▲ 12.7% |
| Amounts payable17/49 | €44,523 | €60,680 | €33,216 | €40,725 | €29,671 | €10,762 | €128,288 | €93,712 | ▼ 27.0% |
| Amounts payable within one year42/48 | €44,523 | €60,680 | €33,216 | €40,725 | €29,671 | €10,762 | €128,288 | €93,712 | ▼ 27.0% |
| Trade debts44 | €19,644 | €5,545 | €31 | €29,079 | €13,976 | €5,302 | €4,062 | €7,593 | ▲ 87.0% |
| Suppliers440/4 | - | - | - | €29,079 | €13,976 | €5,302 | €4,062 | €7,593 | ▲ 87.0% |
| Taxes, remuneration and social security45 | - | - | - | €11,555 | €15,695 | €2,667 | €39,276 | €10,686 | ▼ 72.8% |
| Taxes450/3 | - | - | - | €11,555 | €15,695 | €2,667 | €36,075 | €10,686 | ▼ 70.4% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €3,201 | - | - |
| Other amounts payable47/48 | - | - | - | €92 | - | €2,793 | €84,950 | €75,433 | ▼ 11.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €88,510 | €37,020 | -€26,865 | €67,535 | €87,622 | €93,600 | €151,151 | €126,647 | ▼ 16.2% |
| + Depreciation and write-downs630 | - | - | €154 | €2,663 | €9,268 | €11,612 | €16,033 | €13,484 | ▼ 15.9% |
| Operating cash flow (approximation) | €88,510 | €37,020 | -€26,712 | €70,198 | €96,890 | €105,212 | €167,184 | €140,131 | ▼ 16.2% |
| Investment in fixed assets (approximation) | - | - | - | -€26,421 | €0 | -€226,681 | -€227,499 | -€47,990 | ▲ 78.9% |
| Change in cash | - | €27,126 | -€25,793 | €11,785 | €114,519 | -€180,895 | €9,795 | -€1,437 | - |
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, 34,693 companies had the same profile as FREPPLE has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of FREPPLE itself: 0.1% 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 34,693 companies, not a prediction for FREPPLE. 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.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 22-07-2026 | 2026-00324994 | |
| 31-03-2025 | micro format | 26-09-2025 | 2025-00507962 | |
| 31-03-2024 | micro format | 02-09-2024 | 2024-00438021 | |
| 31-03-2023 | micro format | 29-08-2023 | 2023-00365186 | |
| 31-03-2022 | micro format | 24-06-2022 | 2022-20089414 | |
| 31-03-2021 | micro format | 25-06-2021 | 2021-24400165 | |
| 31-03-2020 | micro format | 26-06-2020 | 2020-21300330 | |
| 31-03-2019 | micro format | 28-06-2019 | 2019-24600448 | |
| 31-03-2018 | micro format | 27-07-2018 | 2018-39500304 | |
| 31-03-2017 | abbreviated format | 30-06-2017 | 2017-25900419 |