FREVAG
ActiveSummary
FREVAG has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.6m and a net result of €890,935. Equity is shrinking by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 446 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability33▼-50
Solvency100=
Growth41▼-9
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 29.35; short-term debt: 0.8% and cash: 1% of total assets), and 0.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
99.1%
Return on assets
24.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
3 d early
2023
121 d late
2022
31 d early
2021
30 d early
2020
22 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 14 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€6,798▼ 44.6%
2024 · €12,273
EBIT margin
-2813.8%▼ 4210.1pp
2024 · 1396.3%
Net result
€890,935▲ 325%
2024 · €209,505
Working capital
€816,651▼ 33.5%
2024 · €1.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€5,496▼ 38.7%€4,623▼ 15.9%€10,974▲ 137%€12,273▲ 11.8%€6,798▼ 44.6%
Operating result-€331,309▼ 4.3%-€333,038▼ 0.5%-€371,401▼ 11.5%€171,359-€191,270
Net result-€293,737below the sector's middle half▼ 9.7%-€296,361below the sector's middle half▼ 0.9%-€355,655below the sector's middle half▼ 20.0%€209,505within the sector's middle half€890,935above the sector's middle half▲ 325%
EBIT margin-6028.2%▼ 2483.8pp-7204.7%▼ 1176.5pp-3384.5%▲ 3820.2pp1396.3%▲ 4780.8pp-2813.8%▼ 4210.1pp
Equity€4.6mabove the sector's middle half▼ 6.0%€4.3mabove the sector's middle half▼ 6.5%€3.9mabove the sector's middle half▼ 8.3%€4.1mabove the sector's middle half▲ 5.3%€3.6mwithin the sector's middle half▼ 14.1%
Total assets€4.6mwithin the sector's middle half▼ 6.2%€4.3mwithin the sector's middle half▼ 5.9%€4.0mwithin the sector's middle half▼ 8.3%€4.2mwithin the sector's middle half▲ 4.4%€3.6mwithin the sector's middle half▼ 13.6%
Debt€27,165▼ 30.1%€50,769▲ 86.9%€45,496▼ 10.4%€10,100▼ 77.8%€31,202▲ 209%
Working capital€1.5mabove the sector's middle half▼ 5.4%€1.4mabove the sector's middle half▼ 5.0%€1.3mabove the sector's middle half▼ 8.5%€1.2mabove the sector's middle half▼ 5.8%€816,651within the sector's middle half▼ 33.5%
Solvency99.4%above the sector's middle half▲ 0.2pp98.8%above the sector's middle half▼ 0.6pp98.9%above the sector's middle half=99.8%above the sector's middle half▲ 0.9pp99.1%above the sector's middle half▼ 0.6pp
Current ratio56.25above the sector's middle half▲ 14.4229.07above the sector's middle half▼ 27.1829.68above the sector's middle half▲ 0.6029.35above the sector's middle half
Return on assets (ROA)-6.4%below the sector's middle half▼ 0.9pp-6.8%below the sector's middle half▼ 0.5pp-8.9%below the sector's middle half▼ 2.1pp5.0%within the sector's middle half▲ 14.0pp24.8%above the sector's middle half▲ 19.8pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €191,270 after €171,359 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.6m
Fixed assets
€2.7m ▼ 5.8%
Current assets
€845,453 ▼ 31.8%
Equity and liabilities €3.6m
Equity
€3.6m ▼ 14.1%
Debt
€31,202 ▲ 209%
Debt's share of the balance-sheet total rises from 0.2% to 0.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€16,193▼
2024 · €238,521
Cash flow
€1.1m▲
2024 · €276,667
Debt to equity
0.01▲
2024 · 0.00
ROE
25.0%▲
2024 · 5.1%
Interest coverage
-35.60▼
2024 · 109.39
Debt ≤ 1 year
€28,802▲
2024 · €10,100
Debt > 1 year
€2,400
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €40,490 | €39,617 | €45,965 | €413,328 | €143,139 | ▼ 65.4% |
| Turnover70 | €5,496 | €4,623 | €10,974 | €12,273 | €6,798 | ▼ 44.6% |
| Other operating income74 | €34,994 | €34,994 | €34,991 | €97,994 | €136,342 | ▲ 39.1% |
| Non-recurring operating income76A | - | - | - | €303,061 | €0 | ▼ 100% |
| Operating charges60/66A | €371,799 | €372,655 | €417,366 | €241,969 | €334,409 | ▲ 38.2% |
| Services and other goods61 | €107,310 | €107,420 | €149,770 | €142,370 | €126,648 | ▼ 11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €240,702 | €233,380 | €235,073 | €67,162 | €175,077 | ▲ 161% |
| Other operating charges640/8 | €23,787 | €31,854 | €32,522 | €32,437 | €32,684 | ▲ 0.8% |
| Operating profit (loss)9901 | -€331,309 | -€333,038 | -€371,401 | €171,359 | -€191,270 | ▼ 212% |
| Financial income75/76B | €53,381 | €50,402 | €33,863 | €60,863 | €1.1m | ▲ 1,719% |
| Recurring financial income75 | €53,381 | €50,402 | €33,863 | €60,863 | €44,818 | ▼ 26.4% |
| Income from financial fixed assets750 | €27,290 | €29,984 | €33,845 | €35,162 | €36,445 | ▲ 3.7% |
| Income from current assets751 | €20,163 | €18,253 | €5 | €23,417 | €8,353 | ▼ 64.3% |
| Other financial income752/9 | €5,927 | €2,164 | €12 | €2,283 | €20 | ▼ 99.1% |
| Non-recurring financial income76B | - | - | - | - | €1.1m | - |
| Financial charges65/66B | €15,809 | €13,725 | €17,354 | €22,717 | €24,922 | ▲ 9.7% |
| Recurring financial charges65 | €15,809 | €13,725 | €17,354 | €22,717 | €24,922 | ▲ 9.7% |
| Debt charges650 | €55 | €162 | €1,725 | €2,180 | €455 | ▼ 79.1% |
| Other financial charges652/9 | €15,754 | €13,562 | €15,630 | €20,536 | €24,467 | ▲ 19.1% |
| Profit (loss) for the period before taxes9903 | -€293,737 | -€296,361 | -€354,893 | €209,505 | €890,935 | ▲ 325% |
| Income taxes67/77 | - | - | €762 | €0 | - | - |
| Taxes670/3 | - | - | €762 | €0 | - | - |
| Profit (loss) for the period9904 | -€293,737 | -€296,361 | -€355,655 | €209,505 | €890,935 | ▲ 325% |
| Profit (loss) for the period to be appropriated9905 | -€293,737 | -€296,361 | -€355,655 | €209,505 | €890,935 | ▲ 325% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.6m | €4.3m | €4.0m | €4.2m | €3.6m | ▼ 13.6% |
| Fixed assets21/28 | €3.1m | €2.9m | €2.6m | €2.9m | €2.7m | ▼ 5.8% |
| Tangible fixed assets22/27 | €3.1m | €2.9m | €2.6m | €2.9m | €2.7m | ▼ 5.8% |
| Land and buildings22 | €3.0m | €2.8m | €2.6m | €2.8m | €2.7m | ▼ 5.9% |
| Plant, machinery and equipment23 | €181 | €0 | - | - | - | - |
| Furniture and vehicles24 | €72,525 | €69,777 | €67,028 | €64,459 | €62,986 | ▼ 2.3% |
| Financial fixed assets28 | €1,378 | €1,378 | €1,378 | €1,378 | €1,378 | = |
| Other financial fixed assets284/8 | €1,378 | €1,378 | €1,378 | €1,378 | €1,378 | = |
| Amounts receivable and cash guarantees285/8 | €1,378 | €1,378 | €1,378 | €1,378 | €1,378 | = |
| Current assets29/58 | €1.5m | €1.5m | €1.4m | €1.2m | €845,453 | ▼ 31.8% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €491,053 | €444,448 | €321,823 | €216,668 | €245,578 | ▲ 13.3% |
| Trade receivables40 | €12,901 | €6,966 | €29,972 | €9,204 | €31,068 | ▲ 238% |
| Other amounts receivable41 | €478,152 | €437,482 | €291,851 | €207,464 | €214,510 | ▲ 3.4% |
| Current investments50/53 | €996,144 | €996,144 | €996,144 | €996,144 | €562,867 | ▼ 43.5% |
| Other investments51/53 | €996,144 | €996,144 | €996,144 | €996,144 | €562,867 | ▼ 43.5% |
| Cash at bank and in hand54/58 | €40,354 | €25,561 | €31,630 | €25,897 | €36,590 | ▲ 41.3% |
| Deferred charges and accrued income490/1 | €454 | €9,841 | €542 | €329 | €417 | ▲ 26.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.6m | €4.3m | €4.0m | €4.2m | €3.6m | ▼ 13.6% |
| Equity10/15 | €4.6m | €4.3m | €3.9m | €4.1m | €3.6m | ▼ 14.1% |
| Contributions10/11 | €495,000 | €495,000 | €495,000 | €495,000 | €495,000 | = |
| Capital10 | €495,000 | €495,000 | €495,000 | €495,000 | €495,000 | = |
| Issued capital100 | €495,000 | €495,000 | €495,000 | €495,000 | €495,000 | = |
| Reserves13 | €4.1m | €3.8m | €3.4m | €3.6m | €3.1m | ▼ 16.0% |
| Non-distributable reserves130/1 | €182,002 | €182,002 | €182,002 | €182,002 | €182,002 | = |
| Legal reserve130 | €182,002 | €182,002 | €182,002 | €182,002 | €182,002 | = |
| Distributable reserves133 | €3.9m | €3.6m | €3.3m | €3.5m | €2.9m | ▼ 16.9% |
| Amounts payable17/49 | €27,165 | €50,769 | €45,496 | €10,100 | €31,202 | ▲ 209% |
| Amounts payable after more than one year17 | - | - | - | - | €2,400 | - |
| Other amounts payable178/9 | - | - | - | - | €2,400 | - |
| Amounts payable within one year42/48 | €27,165 | €50,769 | €45,496 | €10,100 | €28,802 | ▲ 185% |
| Financial debts43 | - | - | - | €20 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €20 | €0 | ▼ 100% |
| Trade debts44 | €27,165 | €50,769 | €44,779 | €10,081 | €27,852 | ▲ 176% |
| Suppliers440/4 | €27,165 | €50,769 | €44,779 | €10,081 | €27,852 | ▲ 176% |
| Advances received on contracts in progress46 | - | - | - | - | €950 | - |
| Taxes, remuneration and social security45 | - | - | €717 | €0 | - | - |
| Taxes450/3 | - | - | €717 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€293,737 | -€296,361 | -€355,655 | €209,505 | €890,935 | ▲ 325% |
| + Depreciation and write-downs630 | €240,702 | €233,380 | €235,073 | €67,162 | €175,077 | ▲ 161% |
| Operating cash flow (approximation) | -€53,035 | -€62,981 | -€120,582 | €276,667 | €1.1m | ▲ 285% |
| Investment in fixed assets (approximation) | - | -€12,635 | €0 | -€352,371 | -€5,700 | ▲ 98.4% |
| Change in cash | - | -€14,793 | €6,069 | -€5,733 | €10,692 | ▲ 287% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €890,935 ▲325%
Net result €890,935, the highest in the series.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €209,505
Net result €209,505 after 4 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 122.67
Current ratio from 29.68 to 122.67; short-term debt falls from €45,496 to €10,100.
29-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 121 days late
2023
31-12
Financial
Weakest financial yearnet -€355,655
Net result drops to -€355,655, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €89,695
Net result €89,695 after one loss-making year.
Show earlier events
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 12 days late
2018
24-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 85 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Antwerpen · 1 establishment unit since 1975
Ground area
893 m²
Building footprint
195 m²
Volume, LiDAR
1,424 m³
2 parcels, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FREVAG
since 19752.011.098.030
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12036B0332/00D000 | Flanders | 868 m² | 1 · 195 m² | 10.8 m · 2 fl. |
| 11804D1538/00A000 | Flanders | 25 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
5 ownersChain of control
- Panta HoldingsNL
- FREVAG
Highest known parent: Panta Holdings (Netherlands). The sources do not say who stands above it.
Owners 5
- Panta HoldingsNLparentSourceown accounts 202599.9%
- Panta Holdings B.V.NLparentSourceLEI registerconsolidated
- Andries Rosen Jacobson Danielnatural personSourceown accounts 20250.04%
- Rafael Rosen Jacobson Thomasnatural personSourceown accounts 20250.03%
- Samuel Rosen Jacobsonnatural personSourceown accounts 20250.03%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of FREVAG and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
967600IUVBERMCKJR790
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Identification & contact
Identification
Legal formPublic limited company
Founded31-05-1975
Fiscal year end31-12
Activities, NACEBEL 2025
77350Rental and leasing activities
55100Hotels and similar accommodation
68110Buying and selling of own real estate
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0415120507
Also
9925:BE0415120507
Registered
17-04-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.