FRESTAM
ActiveSummary
The computed 12-month bankruptcy probability of FRESTAM is 2.0% (moderate). For FRESTAM, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €3.7m and a net result of -€181,430. Equity is shrinking by ~3.2% per year across the filed fiscal years. The company has been active since 1994 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability64▼-2
Solvency95▼-5
Growth34=
Track record92
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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 2023Solvency, return and age of the figures
Solvency
70.1%
Return on assets
-3.4%
Age of the figures
42 mo
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 · Two or more financial years not filed
Since the financial year that closed on 31-03-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-03-2024 close31-10-2024 deadline28-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-03-2023 was due by 31-10-2023 and was filed on 19-03-2025, 505 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
505 d late
2022
861 d late
2021
22 d late
2020
47 d late
2019
294 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 346 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Strikeout withdrawal
History
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Financials · fiscal year 2023, full schema
Turnover
€608,603▼ 3.7%
2020 · €632,130
EBIT margin
-36.8%▼ 42.9pp
2020 · 6.1%
Net result
-€181,430▼ 84.7%
2022 · -€98,233
Working capital
€492,596▼ 75.8%
2022 · €2.0m
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
Line20192020202120222023
Turnover€593,346-€632,130▲ 6.5%€608,603▼ 3.7%
Operating result-€28,109-€38,367-€224,012-€99,439▲ 55.6%-€154,235▼ 55.1%
Net result-€47,847-€46,927-€236,650-€98,233▲ 58.5%-€181,430▼ 84.7%
EBIT margin-4.7%-6.1%▲ 10.8pp-36.8%▼ 42.9pp
Equity€4.2m-€4.2m▲ 1.1%€4.0m▼ 5.6%€3.9m▼ 2.5%€3.7m▼ 4.7%
Total assets€4.2m-€4.2m=€4.2m▼ 0.5%€4.4m▲ 5.0%€5.3m▲ 19.3%
Debt€62,881-€15,896▼ 74.7%€231,333▲ 1,355%€542,656▲ 135%€1.6m▲ 191%
Working capital€1.8m-€2.1m▲ 18.0%€2.0m▼ 2.5%€2.0m▲ 0.8%€492,596▼ 75.8%
Staff (FTE)0.8-0.8=0.8=0.8=0.8=
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €154,235 in 2023 against €99,439 in 2022; the loss grows.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €5.3m
Fixed assets
€4.6m ▲ 96.2%
Current assets
€732,279 ▼ 65.3%
Equity and liabilities €5.3m
Equity
€3.7m ▼ 4.7%
Debt
€1.6m ▲ 191%
Debt's share of the balance-sheet total rises from 12.2% to 29.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€273,021▲
2022 · €167,120
Cash flow
€245,826▲
2022 · €168,327
Current ratio
3.06▼
2022 · 27.68
Debt to equity
0.43▲
2022 · 0.14
ROE
-4.9%▼
2022 · -2.5%
ROA
-3.4%▼
2022 · -2.2%
Interest coverage
8.86▼
2022 · 21.22
Debt ≤ 1 year
€239,682▲
2022 · €76,323
Debt > 1 year
€1.3m▲
2022 · €466,333
Staff costs
€35,430▲
2022 · €34,106
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €593,346 | €632,130 | €608,603 | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €13,822 | - |
| Remuneration, social security and pensions62 | - | - | - | €34,106 | €35,430 | ▲ 3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €269,446 | €269,446 | €273,765 | €266,559 | €427,256 | ▲ 60.3% |
| Other operating charges640/8 | - | - | - | €188,786 | €140,753 | ▼ 25.4% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - |
| Gross operating margin9900 | €417,979 | €442,462 | €439,734 | €390,012 | €449,204 | ▲ 15.2% |
| Operating profit (loss)9901 | -€28,109 | €38,367 | -€224,012 | -€99,439 | -€154,235 | ▼ 55.1% |
| Financial income75/76B | - | - | - | €483 | €3,611 | ▲ 648% |
| Recurring financial income75 | €1,474 | €158 | €90 | €483 | €3,611 | ▲ 648% |
| Financial charges65/66B | - | - | - | €7,877 | €30,805 | ▲ 291% |
| Recurring financial charges65 | €1,978 | €1,449 | €4,128 | €7,877 | €30,805 | ▲ 291% |
| Profit (loss) for the period before taxes9903 | -€28,613 | €37,076 | -€228,050 | -€106,833 | -€181,430 | ▼ 69.8% |
| Income taxes67/77 | €19,234 | -€9,851 | €8,600 | -€8,600 | - | - |
| Profit (loss) for the period9904 | -€47,847 | €46,927 | -€236,650 | -€98,233 | -€181,430 | ▼ 84.7% |
| Profit (loss) for the period to be appropriated9905 | -€47,847 | €46,927 | -€236,650 | -€98,233 | -€181,430 | ▼ 84.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.2m | €4.2m | €4.2m | €4.4m | €5.3m | ▲ 19.3% |
| Fixed assets21/28 | €2.4m | €2.2m | €2.0m | €2.3m | €4.6m | ▲ 96.2% |
| Tangible fixed assets22/27 | €2.4m | €2.2m | €2.0m | €2.3m | €4.6m | ▲ 96.2% |
| Land and buildings22 | - | - | - | €2.3m | €4.5m | ▲ 98.0% |
| Furniture and vehicles24 | - | - | - | €32,059 | €21,372 | ▼ 33.3% |
| Current assets29/58 | €1.8m | €2.1m | €2.3m | €2.1m | €732,279 | ▼ 65.3% |
| Amounts receivable within one year40/41 | €309,147 | €309,147 | €309,147 | €359,147 | €179,147 | ▼ 50.1% |
| Trade receivables40 | - | - | - | €129,129 | €129,129 | = |
| Other amounts receivable41 | - | - | - | €230,018 | €50,018 | ▼ 78.3% |
| Current investments50/53 | €17,563 | €17,563 | €17,563 | €326,559 | €326,559 | = |
| Cash at bank and in hand54/58 | €1.5m | €1.8m | €1.9m | €1.4m | €226,573 | ▼ 84.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.2m | €4.2m | €4.2m | €4.4m | €5.3m | ▲ 19.3% |
| Equity10/15 | €4.2m | €4.2m | €4.0m | €3.9m | €3.7m | ▼ 4.7% |
| Contributions10/11 | €5.0m | €5.0m | €5.0m | €5.0m | €5.0m | = |
| Capital10 | - | - | - | €5.0m | €5.0m | = |
| Issued capital100 | - | - | - | €5.0m | €5.0m | = |
| Profit (loss) carried forward14 | -€854,278 | -€807,351 | -€1.0m | -€1.1m | -€1.3m | ▼ 15.9% |
| Amounts payable17/49 | €62,881 | €15,896 | €231,333 | €542,656 | €1.6m | ▲ 191% |
| Amounts payable after more than one year17 | €0 | €0 | €0 | €466,333 | €1.3m | ▲ 188% |
| Financial debts170/4 | - | - | - | €466,333 | €1.3m | ▲ 188% |
| Amounts payable within one year42/48 | €62,881 | €15,896 | €231,333 | €76,323 | €239,682 | ▲ 214% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €116,653 | - |
| Financial debts43 | - | - | - | €39,295 | €108,740 | ▲ 177% |
| Credit institutions430/8 | - | - | - | €33,667 | €100,000 | ▲ 197% |
| Other loans439 | - | - | - | €5,627 | €8,740 | ▲ 55.3% |
| Trade debts44 | €52,166 | €6,613 | €221,975 | €29,645 | €5,237 | ▼ 82.3% |
| Suppliers440/4 | - | - | - | €29,645 | €5,237 | ▼ 82.3% |
| Taxes, remuneration and social security45 | - | - | - | - | €1,669 | - |
| Taxes450/3 | - | - | - | - | €1,669 | - |
| Other amounts payable47/48 | - | - | - | €7,383 | €7,383 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€47,847 | €46,927 | -€236,650 | -€98,233 | -€181,430 | ▼ 84.7% |
| + Depreciation and write-downs630 | €269,446 | €269,446 | €273,765 | €266,559 | €427,256 | ▲ 60.3% |
| Operating cash flow (approximation) | €221,599 | €316,374 | €37,116 | €168,327 | €245,826 | ▲ 46.0% |
| Investment in fixed assets (approximation) | - | €0 | -€89,464 | -€618,750 | -€2.7m | ▼ 331% |
| Change in cash | - | €269,389 | €163,088 | -€498,096 | -€1.2m | ▼ 141% |
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
2025
19-03
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 505 days late
10-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 861 days late
2022
31-03
Financial
Liquidity triplescurrent ratio 27.68
Current ratio from 9.73 to 27.68; short-term debt falls from €231,333 to €76,323.
2021
22-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 22 days late
31-03
Financial
Weakest financial yearnet -€236,650
Net result drops to -€236,650, the lowest in the series; recovery starts the following year.
2020
17-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 47 days late
11-09
KBO administration
Strikeout withdrawal
event 20-08-2020
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 294 days late
31-03
Financial
Back to profitnet €46,927
Net result €46,927 after one loss-making year.
31-03
Financial
Liquidity times 5current ratio 131.37
Current ratio from 28.93 to 131.37; short-term debt falls from €62,881 to €15,896.
2019
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 414 days late
19-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 779 days late
Show earlier events
18-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 1143 days late
18-12
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 1509 days late
2016
25-04
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 542 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Evere · 1 establishment unit since 1994
Ground area
734 m²
Building footprint
368 m²
Volume, LiDAR
6,216 m³
Parcel 21006A0486/00B003, Brussels · tallest building 20.4 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Frans Verdonckstraat 41, 1140 Evere
since 19942.066.677.446
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21006A0486/00B003 | Brussels | 734 m² | 1 · 368 m² | 20.4 m · 6 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.
Recognitions · licences · registrations
Legal Entity Identifier
9845001X94I9CS08E753
Identification & contact
Identification
Legal formPublic limited company
Founded27-02-1994
Fiscal year end31-03
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.