Summary
FRES is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2014 annual accounts show equity of €37.8m and a net result of €1.9m. Equity is growing by about 31% per year across the filed financial years. The company has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Activities of holding companies
NACE 64210
1 site
Size
≈ €2.2mturnover 2014, estimated
- Equity
- €37.8m
- Profit
- €1.9m
Turnover estimated from the gross margin
Financial health
Financial institution: outside the modelBankruptcy probability: sector outside the model
Structure
2015 accounts not filed, 3742 days past the deadline4 deeds in the Belgian Official Gazette
Signalsraises risk2014 accounts filed 31 days lateneutralNo filing for yearsShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Filing: Five or more filing cycles are missing. This points to a standstill, not an imminent failure.
Bankruptcy probability, 12 months
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
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Signals
Two signals.
raises riskneutral
neutral · No filing for years
The last filed financial year closed on 31-12-2014. Since then, 11 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 7 filingsPosition against the passed deadline
31-12-2015 year end31-07-2016 deadline29-10-2026 today
raises risk · 2014 accounts filed 31 days late
The financial year that closed on 31-12-2014 was due by 31-07-2015 and was filed on 31-08-2015, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 7 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (1)
- General meeting · Director reappointmentPermanent representative
- Annual accounts filedfinancial year 2014 · abbreviated…
- Highest result from 2010 to 2014net €1.9m ▲5.6%
Financials · financial year 2014, abbreviated format
Equity
€37.8m▲ 4.8%
2013 · €36.1m
Net result
€1.9m▲ 5.6%
2013 · €1.8m
Total assets
€38.5m▲ 5.8%
2013 · €36.4m
Solvency
98.2%▼ 0.9pp
2013 · 99.2%
Trend over the years
2010 to 2014, 5 financial years 2010 to 2014, 5 financial years
The operating result recovers in 2014; 2014 is 3% above 2013 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€1.3m
2014
Net result€1.9m
2014
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€38.5m
2014
Equity€37.8m
2014
Debt€0.7m
2014
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€5.0m
2014
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency98.2%
2014
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20102011201220132014
Operating result€0.8m-€1.1m▲ 46.9%€1.3m▲ 14.6%€1.3m▼ 0.9%€1.3m▲ 2.9%
Net result€0.5m-€0.7m▲ 47.6%€0.8m▲ 14.8%€1.8m▲ 117%€1.9m▲ 5.6%
Equity€1.0m-€0.8m▼ 16.8%€34.3m▲ 42×€36.1m▲ 5.3%€37.8m▲ 4.8%
Total assets€1.2m-€1.7m▲ 39.6%€34.6m▲ 21×€36.4m▲ 5.3%€38.5m▲ 5.8%
Debt€0.2m-€0.8m▲ 311%€0.3m▼ 64.7%€0.3m▲ 3.5%€0.7m▲ 120%
Working capital€0.9m-€0.6m▼ 28.7%€1.3m▲ 103%€3.3m▲ 147%€5.0m▲ 53.5%
Solvency82.8%-49.3%▼ 33.5pp99.1%▲ 49.8pp99.2%=98.2%▼ 0.9pp
Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2014 in colour, 2013 as the grey bar beneath
Assets €38.5m
Fixed assets
€32.8m =
Current assets
€5.7m ▲ 59.2%
Equity and liabilities €38.5m
Equity
€37.8m ▲ 4.8%
Debt
€676,644 ▲ 120%
Debt's share of the balance-sheet total rises from 0.8% to 1.8%. Equity and debt are higher.
Key figures and ratios
ROE
5.1%▲
2013 · 5.1%
ROA
5.0%▼
2013 · 5.0%
Debt ≤ 1 year
€676,644▲
2013 · €307,673
Income taxes
€465,648▲
2013 · €440,242
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2010 | 2011 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 45.1% |
| Gross operating margin9900 | €0.8m | €1.1m | €1.3m | €1.3m | €1.3m | ▲ 0.8% |
| Operating profit (loss)9901 | €0.8m | €1.1m | €1.3m | €1.3m | €1.3m | ▲ 2.9% |
| Recurring financial income75 | €0.009m | €0.02m | €0.01m | €1.0m | €1.1m | ▲ 9.3% |
| Recurring financial charges65 | €244 | €115 | €6 | €0.001m | €0.003m | ▲ 191% |
| Profit (loss) for the period before taxes9903 | €0.8m | €1.1m | €1.3m | €2.3m | €2.4m | ▲ 5.7% |
| Income taxes67/77 | €0.3m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 5.8% |
| Profit (loss) for the period9904 | €0.5m | €0.7m | €0.8m | €1.8m | €1.9m | ▲ 5.6% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.7m | €0.8m | €1.8m | €1.9m | ▲ 5.6% |
| Line | 2010 | 2011 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.7m | €34.6m | €36.4m | €38.5m | ▲ 5.8% |
| Fixed assets21/28 | €0.07m | €0.2m | €33.0m | €32.9m | €32.8m | = |
| Tangible fixed assets22/27 | €0.07m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 4.9% |
| Financial fixed assets28 | - | - | €32.6m | €32.6m | €32.6m | = |
| Current assets29/58 | €1.1m | €1.5m | €1.6m | €3.6m | €5.7m | ▲ 59.2% |
| Amounts receivable within one year40/41 | €0.1m | €0.7m | €0.9m | €1.0m | €1.0m | ▼ 4.8% |
| Current investments50/53 | €1.0m | €0.8m | €0.6m | €2.1m | €2.3m | ▲ 10.3% |
| Cash at bank and in hand54/58 | €0.01m | €0.03m | €0.1m | €0.09m | €0.3m | ▲ 261% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.7m | €34.6m | €36.4m | €38.5m | ▲ 5.8% |
| Equity10/15 | €1.0m | €0.8m | €34.3m | €36.1m | €37.8m | ▲ 4.8% |
| Contributions10/11 | €0.06m | €0.06m | €32.7m | €32.7m | €32.7m | = |
| Reserves13 | €0.006m | €0.006m | €0.05m | €0.1m | €0.2m | ▲ 69.0% |
| Profit (loss) carried forward14 | €0.9m | €0.7m | €1.5m | €3.3m | €4.9m | ▲ 49.7% |
| Amounts payable17/49 | €0.2m | €0.8m | €0.3m | €0.3m | €0.7m | ▲ 120% |
| Amounts payable within one year42/48 | €0.2m | €0.8m | €0.3m | €0.3m | €0.7m | ▲ 120% |
| Trade debts44 | €0.05m | €0.002m | €0.001m | €0.001m | €116 | ▼ 91.8% |
| Line | 2010 | 2011 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.5m | €0.7m | €0.8m | €1.8m | €1.9m | ▲ 5.6% |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 45.1% |
| Operating cash flow (approximation) | €0.5m | €0.8m | €0.9m | €1.9m | €1.9m | ▲ 5.0% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€32.8m | €0.09m | -€0.002m | - |
| Change in cash | - | €0.01m | €0.07m | -€0.01m | €0.2m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2014 | abbreviated format | 31-08-2015 | 2015-57900212 |
| 31-12-2013 | abbreviated format | 28-08-2014 | 2014-51500009 |
| 31-12-2012 | abbreviated format | 28-08-2013 | 2013-49700020 |
| 31-12-2011 | abbreviated format | 31-07-2012 | 2012-36900490 |
| 31-12-2010 | abbreviated format | 15-07-2011 | 2011-30600403 |
| 31-12-2009 | abbreviated format | 27-07-2010 | 2010-35000371 |
| 31-12-2008 | abbreviated format | 15-07-2009 | 2009-42400022 |
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Of the 24,456 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,093. 3,145 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
No directors read yet: 0 of 4 Gazette acts processed. See the directors and other office holders in the KBO →
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
The board mandates are listed below; here you explore them as a network.
This company
Company
Director
Shareholding
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Board mandates elsewhere
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
History
Acts, filings and financial milestones
2026
25-06
Gazette deed
General meeting · Director reappointment
Permanent representative
2015
31-08
NBB filing
Annual accounts filed
financial year 2014 · abbreviated format · 31 days late
2014
31-12
Financial
Highest result from 2010 to 2014net €1.9m ▲5.6%
Operating result €1.3m, net result €1.9m, both a record.
28-08
NBB filing
Annual accounts filed
financial year 2013 · abbreviated format · 28 days late
2013
31-12
Financial
Liquidity more than doubledcurrent ratio 11.58
Current ratio from 5.43 to 11.58.
28-08
NBB filing
Annual accounts filed
financial year 2012 · abbreviated format · 28 days late
2012
31-12
Financial
Liquidity more than triplescurrent ratio 5.43
Current ratio from 1.77 to 5.43; short-term debt falls from €841,215 to €297,342.
31-12
Financial
Equity above €25mequity €34.3m ▲4,090%
A profit in every financial year since 2010 builds equity to €34.3m.
31-07
NBB filing
Annual accounts filed
financial year 2011 · abbreviated format
2011
15-07
NBB filing
Annual accounts filed
financial year 2010 · abbreviated format
2010
27-07
NBB filing
Annual accounts filed
financial year 2009 · abbreviated format
2009
15-07
NBB filing
Annual accounts filed
financial year 2008 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
0 of 4 deeds read
About the unread acts
We know of 4 Belgian Official 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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Register details
Identification
Legal formLimited partnership
Founded18-08-2008
Financial year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0806087222
Also
9925:BE0806087222
Registered
04-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Kalmthout · 1 establishment unit since 2008
Ground area
5,295 m²
Building footprint
323 m²
Building volume
1,543 m³
Parcel 11022G0860/00G000, Flanders · tallest building 7.7 m. Linked by address, not a title deed.
1 establishment unit
FRES
since 2008unit no. 2.174.046.152
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11022G0860/00G000 | Flanders | 5,295 m² | 1 · 323 m² | 7.7 m · 2 |
How the parcels are linked
Good to know
The parcel matches the address exactly.