Active BE 0836.750.110Private limited companyOpen bankruptcy

FRGN

Rue Charles-Magnette 23 ·4000 Liège, Belgium· 15 yrs active

Sector: Cafés (56301)

Conclusion Checked

A bankruptcy procedure is open for FRGN according to publications in the Belgian State Gazette. The 2020 annual accounts show negative equity (€-29k) and a net result of €-56k.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€-29k
Net result	€-56k
Staff (FTE)	2.9
Better than sector	31%

Snowflake analysis 5 axes · computed by Checked

33 / 100

Fragile profile, watch health in particular.

Health 0

Profitability 100

Solvency 33

Growth 32

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High risk

Components

· Open bankruptcy (+50)

Trust signals 1 signals

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags 0 events

No administrative flags

Health barometer FY 2020 · computed

0 / 100 Critical

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview9 NBB filings

Annual accounts filed on 30-08-2021 with the NBB · fiscal year 2020 · micro

Operating resultNet result

Sector comparison

Fiscal year 2020 · NACE 56, Food & beverage service · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-10.8%	17.8%	better than 31% of 1272 sector peers
Net result	€1k	€865	better than 51% of 1265 sector peers
Equity	€-29k	€11k	better than 19% of 1276 sector peers
Gross operating margin	€82k	€24k	better than 79% of 1260 sector peers
Employees (FTE)	2.9	2.0	better than 65% of 615 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€45k

+492.3% -15% vs sector

Net profit

€-56k

+2.2% far below sector median

Cash flow

€-17k

+7.2% far below sector median

Total assets

€272k

-13.3% -58% vs sector

Equity

€-29k

+4.2% far below sector median

Working capital

€-184k

+8.5% far below sector median

Employees (FTE)

3

+163.6% 18-20

Debt

€301k

-12.5% far above sector median

Debt ≤ 1y

€222k

-14.0% far above sector median

Debt > 1y

€77k

-7.7% -86% vs sector

Current ratio

0.17

-22.0% -100% vs sector

Quick ratio

0.16

-17.0% -100% vs sector

Solvency

-10.8%

-10.6% far below sector median

Debt / equity

-2.63

+3.7% far below sector median

ROE

189.6%

+2.0% far above sector median

ROA

-20.5%

-12.8% far below sector median

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2020
Revenue	-
EBITDA	€45k
Net profit	€-56k
Cash flow	€-17k
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€272k
Equity	€-29k
Debt	€301k
of which ≤ 1y	€222k
of which > 1y	€77k
Working capital	€-184k
Employees (FTE)	2.9

Ratios (computed)

	2020
Current ratio	0.17
Quick ratio	0.16
Working capital ratio	-67.6%
Solvency	-10.8%
Debt / equity	-2.63
Long-term debt ratio	-2.63
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-20.5%
ROE	189.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2020

Assets

Fixed assets €233k · 85.8% Current assets €39k · 14.2%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€272k
Fixed assets	21/28	€233k
Intangible fixed assets	21	€32k
Tangible fixed assets	22/27	€198k
Financial fixed assets	28	€3k
Current assets	29/58	€39k
Stocks & contracts in progress	3	€3k
Amounts receivable within one year	40/41	€34k
Cash & bank	54/58	€1k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€272k
Equity	10/15	€-29k
Reserves	13	€9k
Accumulated profits (losses)	14	€-56k
Amounts payable	17/49	€301k
Amounts payable after one year	17	€77k
Amounts payable within one year	42/48	€222k
Trade debts payable within one year	44	€39k
Income statement
Gross operating margin	9900	€82k
Operating result	9901	€7k
Financial charges	65	€6k
Result before taxes	9903	€1k
Net result for the period	9904	€1k
Result to be appropriated	9905	€1k

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Ratios computed by Checked.

Directors & mandates1 person

Role	Name	Tenure	Source
Curator	PASCAL LAMBERT RUE DE LA LECHE 36, 4020 LIEGE 2	24-04-2023 → present	Belgian State Gazette

Legal Structure

NACE primary	Cafés(56301)
Legal form	Private limited company(610)
Incorporation	06-06-2011
Status	Active
Postal code	4000
First BS signal	28-04-2023
Latest BS signal	28-04-2023

Company structure, linked entities1 linked entities

Mandates

Establishment units 1 location

Au tableau qui dit des bêtises

Rue Charles-Magnette 23, 4000 LiègeEetgelegenheden met volledige bediening

since 20112.199.796.187

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Updates 10 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2023

28-04-2023

Bankruptcy Opening

Tribunal de l’entreprise de Liège, division Liège · FRGN SRL RUE CHARLES- MAGNETTE 23, 4000 LIEGE 1 · event 24-04-2023

2021

30-08-2021