FRIEDMANN
ActiveSummary
FRIEDMANN has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.36M and a net result of €2.08M. Equity is growing by ~88.3% per year across the filed fiscal years. Its solvency ranks better than 34% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-29
Solvency59▲+9
Growth78=
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €420k at 30 days acceptable
Liquidity ample (current ratio 21.94 against 15.04 in 2024; short-term debt: 1.3% and cash: 1.3% of total assets), but 66% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
34%
Return on assets
11.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
21 d late
2024
47 d late
2023
57 d late
2022
49 d late
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€6.36M▲ 48.5%
2024 · €4.29M
2022: €98klowest in 4 years
2023: €450k▲ +362% vs 2022
2024: €4.29M▲ +852% vs 2023
2025: €6.36M▲ +48.5% vs 2024highest in 4 years
2022 → 2025
Total assets
€18.74M▲ 10.6%
2024 · €16.95M
2022: €14.58M
2023: €14.11M▼ -3.2% vs 2022lowest in 4 years
2024: €16.95M▲ +20.1% vs 2023
2025: €18.74M▲ +10.6% vs 2024highest in 4 years
2022 → 2025
Net result
€2.08M▼ 45.8%
2024 · €3.84M
2022: €68klowest in 4 years
2023: €353k▲ +422% vs 2022
2024: €3.84M▲ +988% vs 2023highest in 4 years
2025: €2.08M▼ -45.8% vs 2024
2022 → 2025
Working capital
€4.91M▲ 57.0%
2024 · €3.13M
2022: €732k
2023: €187k▼ -74.5% vs 2022lowest in 4 years
2024: €3.13M▲ +1573% vs 2023
2025: €4.91M▲ +57.0% vs 2024highest in 4 years
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€98k-€450k▲ 362%€4.29M▲ 852%€6.36M▲ 48.5%
2022: €98klowest in 4 years
2023: €450k▲ +362% vs 2022
2024: €4.29M▲ +852% vs 2023
2025: €6.36M▲ +48.5% vs 2024highest in 4 years
Operating result€111k-€176k▲ 59.5%€175k▼ 0.8%€168k▼ 3.7%
2022: €111klowest in 4 years
2023: €176k▲ +59.5% vs 2022highest in 4 years
2024: €175k▼ -0.8% vs 2023
2025: €168k▼ -3.7% vs 2024
Net result€68k-€353k▲ 422%€3.84M▲ 988%€2.08M▼ 45.8%
2022: €68klowest in 4 years
2023: €353k▲ +422% vs 2022
2024: €3.84M▲ +988% vs 2023highest in 4 years
2025: €2.08M▼ -45.8% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 4% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18.74M
Fixed assets
€13.60M =
Current assets
€5.14M ▲ 53.6%
Equity and liabilities €18.74M
Equity
€6.36M ▲ 48.5%
Debt
€12.38M ▼ 2.2%
Debt's share of the balance-sheet total falls from 74.7% to 66.0%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
21.94▲
2024 · 15.04
Debt to equity
1.95▼
2024 · 2.95
ROE
32.7%▼
2024 · 89.5%
ROA
11.1%▼
2024 · 22.6%
Debt ≤ 1 year
€234k▲
2024 · €223k
Debt > 1 year
€12.15M▼
2024 · €12.44M
Income taxes
€35k▼
2024 · €35k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 36 lines
Balance sheet
Code20242025
Assets
Total assets20/58€16.95M€18.74M▲
Fixed assets21/28€13.60M€13.60M=
Financial fixed assets28€13.60M€13.60M=
Current assets29/58€3.35M€5.14M▲
Amounts receivable within one year40/41€2.92M€4.90M▲
Trade receivables40€36k€36k=
Other amounts receivable41€2.88M€4.86M▲
Cash at bank and in hand54/58€433k€249k▼
Equity and liabilities
Total equity and liabilities10/49€16.95M€18.74M▲
Equity10/15€4.29M€6.36M▲
Contributions10/11€30k€30k=
Profit (loss) carried forward14€4.26M€6.33M▲
Amounts payable17/49€12.66M€12.38M▼
Amounts payable after more than one year17€12.44M€12.15M▼
Financial debts170/4€12.44M€12.15M▼
Amounts payable within one year42/48€223k€234k▲
Current portion of amounts payable after more than one year42€192k€195k▲
Trade debts44€1k€130▼
Suppliers440/4€1k€130▼
Taxes, remuneration and social security45€27k€17k▼
Taxes450/3€27k€17k▼
Other amounts payable47/48€3k€21k▲
Income statement
Code20242025
Other operating charges640/8€1k€1k▲
Non-recurring operating charges66A€1k-
Gross operating margin9900€177k€169k▼
Operating profit (loss)9901€175k€168k▼
Financial income75/76B€3.73M€1.98M▼
Recurring financial income75€3.73M€1.98M▼
Financial charges65/66B€34k€30k▼
Recurring financial charges65€34k€30k▼
Profit (loss) for the period before taxes9903€3.87M€2.11M▼
Income taxes67/77€35k€35k▼
Profit (loss) for the period9904€3.84M€2.08M▼
Profit (loss) for the period to be appropriated9905€3.84M€2.08M▼
Appropriation of the result
Profit (loss) to be appropriated9906€4.26M€6.33M▲
Profit (loss) brought forward from the previous period14P€420k€4.26M▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €348 | €384 | €1k | €1k | ▲ 8.0% |
| Non-recurring operating charges66A | - | - | €1k | - | - |
| Gross operating margin9900 | €111k | €177k | €177k | €169k | ▼ 4.2% |
| Operating profit (loss)9901 | €111k | €176k | €175k | €168k | ▼ 3.7% |
| Financial income75/76B | €55 | €250k | €3.73M | €1.98M | ▼ 47.1% |
| Recurring financial income75 | €55 | €250k | €3.73M | €1.98M | ▼ 47.1% |
| Financial charges65/66B | €18k | €37k | €34k | €30k | ▼ 11.5% |
| Recurring financial charges65 | €18k | €37k | €34k | €30k | ▼ 11.5% |
| Profit (loss) for the period before taxes9903 | €92k | €389k | €3.87M | €2.11M | ▼ 45.4% |
| Income taxes67/77 | €25k | €36k | €35k | €35k | ▼ 1.9% |
| Profit (loss) for the period9904 | €68k | €353k | €3.84M | €2.08M | ▼ 45.8% |
| Profit (loss) for the period to be appropriated9905 | €68k | €353k | €3.84M | €2.08M | ▼ 45.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €14.58M | €14.11M | €16.95M | €18.74M | ▲ 10.6% |
| Fixed assets21/28 | €13.60M | €13.60M | €13.60M | €13.60M | = |
| Financial fixed assets28 | €13.60M | €13.60M | €13.60M | €13.60M | = |
| Current assets29/58 | €982k | €512k | €3.35M | €5.14M | ▲ 53.6% |
| Amounts receivable within one year40/41 | €37k | €50k | €2.92M | €4.90M | ▲ 67.9% |
| Trade receivables40 | €37k | €50k | €36k | €36k | = |
| Other amounts receivable41 | - | - | €2.88M | €4.86M | ▲ 68.8% |
| Cash at bank and in hand54/58 | €946k | €461k | €433k | €249k | ▼ 42.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €14.58M | €14.11M | €16.95M | €18.74M | ▲ 10.6% |
| Equity10/15 | €98k | €450k | €4.29M | €6.36M | ▲ 48.5% |
| Contributions10/11 | €30k | €30k | €30k | €30k | = |
| Profit (loss) carried forward14 | €68k | €420k | €4.26M | €6.33M | ▲ 48.8% |
| Amounts payable17/49 | €14.48M | €13.66M | €12.66M | €12.38M | ▼ 2.2% |
| Amounts payable after more than one year17 | €14.23M | €13.34M | €12.44M | €12.15M | ▼ 2.4% |
| Financial debts170/4 | €14.23M | €13.34M | €12.44M | €12.15M | ▼ 2.4% |
| Amounts payable within one year42/48 | €250k | €325k | €223k | €234k | ▲ 5.3% |
| Current portion of amounts payable after more than one year42 | €184k | €188k | €192k | €195k | ▲ 2.0% |
| Trade debts44 | €450 | €80k | €1k | €130 | ▼ 88.5% |
| Suppliers440/4 | €450 | €80k | €1k | €130 | ▼ 88.5% |
| Taxes, remuneration and social security45 | €36k | €24k | €27k | €17k | ▼ 35.2% |
| Taxes450/3 | €36k | €24k | €27k | €17k | ▼ 35.2% |
| Other amounts payable47/48 | €30k | €33k | €3k | €21k | ▲ 587% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €68k | €353k | €3.84M | €2.08M | ▼ 45.8% |
| Operating cash flow (approximation) | €68k | €353k | €3.84M | €2.08M | ▼ 45.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | €-484k | €-28k | €-185k | ▼ 559% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 21 days late
2025
31-12
Financial
Equity above €5MEq €6.36M ▲48.5%
4 profitable years in a row build equity to €6.36M.
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 47 days late
2024
31-12
Financial
Highest result since 2022net €3.84M ▲988%
Net result €3.84M, the highest in the series.
31-12
Financial
Liquidity times 10current ratio 15.04
Current ratio from 1.58 to 15.04; short-term debt falls from €325k to €223k.
31-12
Financial
Equity above €2MEq €4.29M ▲852%
3 profitable years in a row build equity to €4.29M.
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
2023
31-12
Financial
Equity above €200kEq €450k ▲362%
2 profitable years in a row build equity to €450k.
18-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 49 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Brussel · 1 establishment unit since 2022
Ground area
69 m²
Building footprint
105 m²
Volume, LiDAR
1,995 m³
Parcel 21802B1155/00Y000, Brussels · tallest building 20.8 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Koninginnegalerij 12-18, 1000 Brussel
since 20222.330.737.279
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21802B1155/00Y000 | Brussels | 69 m² | 1 · 105 m² | 20.8 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 9,496 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-02-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.