FRESIM
ActiveSummary
FRESIM has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115k and a net result of €-11k. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 62% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability63▲+21
Solvency71=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.2 in 2024; short-term debt: 39.7% and cash: 16.6% of total assets), and 54.4% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
45.6%
Return on assets
-4.3%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-11k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-05-2026, 81 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
81 d early
2024
97 d early
2023
96 d early
2022
83 d early
2021
110 d early
2020
5 d early
2019
100 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
In the rankings
#6 oldest company in Welkenraedt, Real estate sector
Equity
€115k▼ 8.7%
2024 · €126k
Total assets
€252k▼ 6.9%
2024 · €271k
Net result
€-11k▲ 54.0%
2024 · €-24k
Working capital
€8k▼ 59.5%
2024 · €20k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-11k▲ 29.4%€-3k▲ 75.1%€181k€-28k€-8k▲ 71.4%
Net result€-12k▲ 29.6%€-3k▲ 71.9%€135k€-24k€-11k▲ 54.0%
Equity€50k▼ 36.6%€47k▼ 7.0%€172k▲ 270%€126k▼ 27.0%€115k▼ 8.7%
Total assets€130k▼ 20.9%€116k▼ 10.7%€308k▲ 165%€271k▼ 12.2%€252k▼ 6.9%
Debt€63k▼ 6.3%€53k▼ 14.8%€93k▲ 74.0%€112k▲ 20.3%€106k▼ 4.9%
Working capital€-35k▼ 71.7%€-37k▼ 3.6%€116k€20k▼ 83.1%€8k▼ 59.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8k in 2025 against €28k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €252k
Fixed assets
€144k ▼ 5.3%
Current assets
€108k ▼ 8.9%
Equity and liabilities €252k
Equity
€115k ▼ 8.7%
Provisions
€30k ▼ 7.2%
Debt
€106k ▼ 4.9%
Debt's share of the balance-sheet total rises from 41.4% to 42.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€16k▼
2024 · €18k
Cash flow
€13k▼
2024 · €22k
Current ratio
1.08▼
2024 · 1.20
Debt to equity
0.93▲
2024 · 0.89
ROE
-9.5%▲
2024 · -18.8%
ROA
-4.3%▲
2024 · -8.7%
Interest coverage
19.02▲
2024 · 4.09
Debt ≤ 1 year
€100k▲
2024 · €99k
Debt > 1 year
€3k▼
2024 · €11k
Income taxes
€6k▲
2024 · €4k
Staff costs
€397
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €397 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22k | €15k | €14k | €46k | €24k | ▼ 47.8% |
| Other operating charges640/8 | €3k | €3k | €5k | €6k | €7k | ▲ 21.5% |
| Gross operating margin9900 | €13k | €16k | €200k | €24k | €24k | ▼ 0.1% |
| Operating profit (loss)9901 | €-11k | €-3k | €181k | €-28k | €-8k | ▲ 71.4% |
| Financial income75/76B | €14 | €0 | €357 | €3k | €2k | ▼ 43.0% |
| Recurring financial income75 | €14 | €0 | €357 | €3k | €2k | ▼ 43.0% |
| Financial charges65/66B | €2k | €2k | €4k | €4k | €831 | ▼ 80.6% |
| Recurring financial charges65 | €2k | €2k | €4k | €4k | €831 | ▼ 80.6% |
| Profit (loss) for the period before taxes9903 | €-13k | €-4k | €178k | €-30k | €-7k | ▲ 75.3% |
| Transfer from deferred taxes780 | €1k | €1k | €16k | €10k | €2k | ▼ 76.4% |
| Transfer to deferred taxes680 | - | - | €43k | - | - | - |
| Income taxes67/77 | €235 | €246 | €16k | €4k | €6k | ▲ 55.8% |
| Profit (loss) for the period9904 | €-12k | €-3k | €135k | €-24k | €-11k | ▲ 54.0% |
| Transfer from tax-exempt reserves789 | €1k | €1k | €20k | €30k | €7k | ▼ 76.4% |
| Transfer to tax-exempt reserves689 | - | - | €128k | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-11k | €-2k | €26k | €6k | €-4k | ▼ 161% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €130k | €116k | €308k | €271k | €252k | ▼ 6.9% |
| Fixed assets21/28 | €121k | €107k | €121k | €152k | €144k | ▼ 5.3% |
| Tangible fixed assets22/27 | €120k | €107k | €120k | €152k | €135k | ▼ 10.8% |
| Land and buildings22 | €70k | €65k | €1k | €1k | €1k | = |
| Furniture and vehicles24 | €2k | €2k | €32k | €24k | €24k | ▼ 1.2% |
| Leasing and similar rights25 | €48k | €40k | €32k | €126k | €110k | ▼ 12.7% |
| Assets under construction and advance payments27 | - | - | €55k | - | - | - |
| Financial fixed assets28 | €675 | €675 | €675 | €500 | €9k | ▲ 1,646% |
| Current assets29/58 | €9k | €9k | €187k | €118k | €108k | ▼ 8.9% |
| Amounts receivable after more than one year29 | - | - | - | €75k | €59k | ▼ 20.9% |
| Other amounts receivable291 | - | - | - | €75k | €59k | ▼ 20.9% |
| Amounts receivable within one year40/41 | - | €2k | €32k | €33k | €5k | ▼ 86.0% |
| Trade receivables40 | - | €2k | €17k | €18k | €5k | ▼ 74.5% |
| Other amounts receivable41 | - | - | €15k | €15k | - | - |
| Cash at bank and in hand54/58 | €7k | €5k | €154k | €8k | €42k | ▲ 414% |
| Deferred charges and accrued income490/1 | €2k | €2k | €2k | €2k | €2k | ▲ 7.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €130k | €116k | €308k | €271k | €252k | ▼ 6.9% |
| Equity10/15 | €50k | €47k | €172k | €126k | €115k | ▼ 8.7% |
| Contributions10/11 | €65k | €65k | €65k | €65k | €65k | = |
| Capital10 | €65k | €65k | €65k | €65k | €65k | = |
| Issued capital100 | €65k | €65k | €65k | €65k | €65k | = |
| Reserves13 | €43k | €42k | €166k | €122k | €115k | ▼ 5.8% |
| Non-distributable reserves130/1 | €7k | €7k | €7k | €7k | €7k | = |
| Legal reserve130 | €7k | €7k | €7k | €7k | €7k | = |
| Tax-exempt reserves132 | €21k | €20k | €128k | €98k | €91k | ▼ 7.2% |
| Distributable reserves133 | €15k | €15k | €31k | €16k | €16k | = |
| Profit (loss) carried forward14 | €-58k | €-60k | €-59k | €-61k | €-65k | ▼ 6.3% |
| Provisions and deferred taxes16 | €17k | €16k | €43k | €33k | €30k | ▼ 7.2% |
| Deferred taxes168 | €17k | €16k | €43k | €33k | €30k | ▼ 7.2% |
| Amounts payable17/49 | €63k | €53k | €93k | €112k | €106k | ▼ 4.9% |
| Amounts payable after more than one year17 | €16k | €5k | €19k | €11k | €3k | ▼ 70.0% |
| Financial debts170/4 | €16k | €5k | €19k | €11k | €3k | ▼ 70.0% |
| Amounts payable within one year42/48 | €44k | €45k | €72k | €99k | €100k | ▲ 1.0% |
| Current portion of amounts payable after more than one year42 | €12k | €11k | €13k | €8k | €8k | ▲ 4.1% |
| Trade debts44 | €781 | €1k | €1k | €14k | €10k | ▼ 28.3% |
| Suppliers440/4 | €781 | €1k | €1k | €14k | €10k | ▼ 28.3% |
| Taxes, remuneration and social security45 | €975 | €2k | €10k | €16k | €8k | ▼ 47.2% |
| Taxes450/3 | €975 | €2k | €10k | €16k | €8k | ▼ 47.2% |
| Other amounts payable47/48 | €30k | €32k | €48k | €61k | €73k | ▲ 20.1% |
| Accrued charges and deferred income492/3 | €2k | €3k | €3k | €2k | €3k | ▲ 69.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-12k | €-3k | €135k | €-24k | €-11k | ▲ 54.0% |
| + Depreciation and write-downs630 | €22k | €15k | €14k | €46k | €24k | ▼ 47.8% |
| Operating cash flow (approximation) | €9k | €12k | €148k | €22k | €13k | ▼ 41.3% |
| Investment in fixed assets (approximation) | - | €-2k | €-27k | €-77k | €-16k | ▲ 79.5% |
| Change in cash | - | €-2k | €149k | €-146k | €34k | ▲ 123% |
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
Next filing, fiscal year 2026, expected by
2026
11-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-24k
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €135k
Net result €135k after 3 loss-making years.
31-12
Financial
Liquidity times 13current ratio 2.62
Current ratio from 0.19 to 2.62.
31-12
Financial
Equity above €150kEq €172k ▲270%
Equity rises from €47k to €172k.
09-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State 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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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Welkenraedt · 1 establishment unit since 1990
Ground area
150 m²
Building footprint
77 m²
Volume, LiDAR
581 m³
Parcel 63084A0240/00F016, Wallonia · tallest building 8.1 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
FRESIM
since 19902.050.681.651
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63084A0240/00F016 | Wallonia | 150 m² | 1 · 76 m² | 8.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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GloReno
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,385. 5,340 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-11-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
46649Wholesale of other machinery and equipment
70200Business and other management consultancy
93299Other amusement and recreation activities
Scores and ratios are computed by Checked and are not a credit decision.