Friegel
ActiveSummary
Friegel has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €374,327 and a net result of €57,310. Equity is growing by ~23.9% per year across the filed fiscal years. Its solvency ranks better than 51% of 11472 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-5
Solvency68▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.32 in 2024; short-term debt: 19.3% and cash: 8.2% of total assets), and 56.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
43.2%
Return on assets
6.6%
Age of the figures
12 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 09-04-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
40 d early
2023
26 d early
2022
30 d early
2021
36 d early
2020
35 d early
2019
30 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 31 days before 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€374,327▲ 15.9%
2024 · €323,017
Total assets
€866,357▲ 18.5%
2024 · €730,981
Net result
€57,310▼ 25.3%
2024 · €76,670
Working capital
€80,240▲ 38.8%
2024 · €57,799
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Operating result€48,461▼ 31.3%€33,774▼ 30.3%€87,622▲ 159%€117,280▲ 33.8%€88,724▼ 24.3%
Net result€27,832within the sector's middle half▼ 46.1%€17,017within the sector's middle half▼ 38.9%€57,082above the sector's middle half▲ 235%€76,670above the sector's middle half▲ 34.3%€57,310above the sector's middle half▼ 25.3%
Equity€184,249above the sector's middle half▲ 17.8%€201,265above the sector's middle half▲ 9.2%€252,347above the sector's middle half▲ 25.4%€323,017above the sector's middle half▲ 28.0%€374,327above the sector's middle half▲ 15.9%
Total assets€643,983above the sector's middle half▼ 5.0%€641,297above the sector's middle half▼ 0.4%€637,273above the sector's middle half▼ 0.6%€730,981above the sector's middle half▲ 14.7%€866,357above the sector's middle half▲ 18.5%
Debt€459,734▼ 11.9%€440,031▼ 4.3%€384,926▼ 12.5%€407,964▲ 6.0%€492,030▲ 20.6%
Working capital€21,883▲ 462%€6,611▼ 69.8%€26,782▲ 305%€57,799▲ 116%€80,240▲ 38.8%
Solvency28.6%within the sector's middle half▲ 5.5pp31.4%within the sector's middle half▲ 2.8pp39.6%within the sector's middle half▲ 8.2pp44.2%within the sector's middle half▲ 4.6pp43.2%within the sector's middle half▼ 1.0pp
Staff (FTE)11=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €866,357
Fixed assets
€618,783 ▲ 25.8%
Current assets
€247,574 ▲ 3.6%
Equity and liabilities €866,357
Equity
€374,327 ▲ 15.9%
Debt
€492,030 ▲ 20.6%
Debt's share of the balance-sheet total rises from 55.8% to 56.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€140,260▼
2024 · €163,958
Cash flow
€108,846▼
2024 · €123,347
Current ratio
1.48▲
2024 · 1.32
Quick ratio
0.74▼
2024 · 0.88
Debt to equity
1.31▲
2024 · 1.26
ROE
15.3%▼
2024 · 23.7%
ROA
6.6%▼
2024 · 10.5%
Interest coverage
9.34▼
2024 · 11.28
Debt ≤ 1 year
€167,334▼
2024 · €181,266
Debt > 1 year
€324,696▲
2024 · €226,699
Income taxes
€16,586▼
2024 · €26,112
Staff costs
€47,845▲
2024 · €46,466
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,410 | €250 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €14,403 | €47,802 | €46,466 | €47,845 | ▲ 3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,965 | €41,889 | €32,201 | €46,678 | €51,536 | ▲ 10.4% |
| Other operating charges640/8 | - | €3,612 | €4,611 | €4,205 | €5,742 | ▲ 36.6% |
| Gross operating margin9900 | €96,529 | €93,677 | €172,235 | €214,629 | €193,846 | ▼ 9.7% |
| Operating profit (loss)9901 | €48,461 | €33,774 | €87,622 | €117,280 | €88,724 | ▼ 24.3% |
| Financial income75/76B | - | €15 | €0 | €39 | €183 | ▲ 373% |
| Recurring financial income75 | €23 | €15 | €0 | €39 | €183 | ▲ 373% |
| Financial charges65/66B | - | €10,758 | €9,941 | €14,538 | €15,011 | ▲ 3.3% |
| Recurring financial charges65 | €12,655 | €10,758 | €9,941 | €14,538 | €15,011 | ▲ 3.3% |
| Profit (loss) for the period before taxes9903 | €35,829 | €23,031 | €77,681 | €102,781 | €73,896 | ▼ 28.1% |
| Income taxes67/77 | €7,997 | €6,014 | €20,600 | €26,112 | €16,586 | ▼ 36.5% |
| Profit (loss) for the period9904 | €27,832 | €17,017 | €57,082 | €76,670 | €57,310 | ▼ 25.3% |
| Profit (loss) for the period to be appropriated9905 | €27,832 | €17,017 | €57,082 | €76,670 | €57,310 | ▼ 25.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €643,983 | €641,297 | €637,273 | €730,981 | €866,357 | ▲ 18.5% |
| Fixed assets21/28 | €499,016 | €482,194 | €464,881 | €491,917 | €618,783 | ▲ 25.8% |
| Tangible fixed assets22/27 | €499,016 | €482,194 | €464,881 | €491,917 | €618,783 | ▲ 25.8% |
| Land and buildings22 | - | €457,748 | €443,988 | €422,916 | €570,266 | ▲ 34.8% |
| Plant, machinery and equipment23 | - | €16,410 | €10,927 | €6,035 | €1,274 | ▼ 78.9% |
| Furniture and vehicles24 | - | €8,036 | €9,966 | €5,973 | €4,316 | ▼ 27.7% |
| Leasing and similar rights25 | - | €0 | - | €56,992 | €42,927 | ▼ 24.7% |
| Current assets29/58 | €144,967 | €159,102 | €172,392 | €239,065 | €247,574 | ▲ 3.6% |
| Stocks and contracts in progress3 | €56,680 | €82,350 | €61,710 | €80,036 | €123,998 | ▲ 54.9% |
| Stocks30/36 | - | €57,350 | €55,210 | €78,931 | €67,490 | ▼ 14.5% |
| Contracts in progress37 | - | €25,000 | €6,500 | €1,106 | €56,508 | ▲ 5,012% |
| Amounts receivable within one year40/41 | €47,018 | €38,777 | €23,118 | €129,528 | €46,390 | ▼ 64.2% |
| Trade receivables40 | - | €29,238 | €13,775 | €125,044 | €28,616 | ▼ 77.1% |
| Other amounts receivable41 | - | €9,539 | €9,344 | €4,485 | €17,774 | ▲ 296% |
| Cash at bank and in hand54/58 | €22,425 | €34,907 | €77,438 | €24,731 | €71,467 | ▲ 189% |
| Deferred charges and accrued income490/1 | - | €3,068 | €10,126 | €4,769 | €5,719 | ▲ 19.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €643,983 | €641,297 | €637,273 | €730,981 | €866,357 | ▲ 18.5% |
| Equity10/15 | €184,249 | €201,265 | €252,347 | €323,017 | €374,327 | ▲ 15.9% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €70,683 | €87,700 | €246,147 | €316,817 | €368,127 | ▲ 16.2% |
| Distributable reserves133 | - | €87,700 | €246,147 | €316,817 | €368,127 | ▲ 16.2% |
| Profit (loss) carried forward14 | €107,366 | €107,366 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €459,734 | €440,031 | €384,926 | €407,964 | €492,030 | ▲ 20.6% |
| Amounts payable after more than one year17 | €336,651 | €287,540 | €239,316 | €226,699 | €324,696 | ▲ 43.2% |
| Financial debts170/4 | - | €287,540 | €239,316 | €226,699 | €324,696 | ▲ 43.2% |
| Amounts payable within one year42/48 | €123,083 | €152,491 | €145,610 | €181,266 | €167,334 | ▼ 7.7% |
| Current portion of amounts payable after more than one year42 | - | €63,808 | €50,402 | €64,986 | €72,933 | ▲ 12.2% |
| Financial debts43 | - | - | €20,000 | €14,583 | €6,250 | ▼ 57.1% |
| Credit institutions430/8 | - | - | €20,000 | €14,583 | €6,250 | ▼ 57.1% |
| Trade debts44 | €32,952 | €71,727 | €50,807 | €76,856 | €62,398 | ▼ 18.8% |
| Suppliers440/4 | - | €71,727 | €50,807 | €76,856 | €62,398 | ▼ 18.8% |
| Taxes, remuneration and social security45 | - | €3,985 | €4,735 | €5,871 | €7,529 | ▲ 28.2% |
| Taxes450/3 | - | €1,777 | €37 | €1,149 | €1,135 | ▼ 1.2% |
| Remuneration and social security454/9 | - | €2,208 | €4,697 | €4,722 | €6,393 | ▲ 35.4% |
| Other amounts payable47/48 | - | €12,972 | €19,666 | €18,969 | €18,225 | ▼ 3.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,832 | €17,017 | €57,082 | €76,670 | €57,310 | ▼ 25.3% |
| + Depreciation and write-downs630 | €43,965 | €41,889 | €32,201 | €46,678 | €51,536 | ▲ 10.4% |
| Operating cash flow (approximation) | €71,797 | €58,906 | €89,282 | €123,347 | €108,846 | ▼ 11.8% |
| Investment in fixed assets (approximation) | - | -€25,068 | -€14,887 | -€73,713 | -€178,402 | ▼ 142% |
| Change in cash | - | €12,483 | €42,530 | -€52,707 | €46,736 | ▲ 189% |
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
09-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
21-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2018net €76,670 ▲34.3%
Operating result €117,280, net result €76,670, both a record.
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €17,017 ▼38.9%
Net result drops to €17,017, the lowest in the series; recovery starts the following year.
30-09
Financial
Equity above €200,000Eq €201,265 ▲9.2%
5 profitable years in a row build equity to €201,265.
25-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Equity above €150,000Eq €156,417 ▲49.3%
3 profitable years in a row build equity to €156,417.
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Equity above €100,000Eq €104,750 ▲24.2%
2 profitable years in a row build equity to €104,750.
Show earlier events
18-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Langemark-Poelkapelle · 1 establishment unit since 2009
Ground area
1,333 m²
Building footprint
262 m²
Volume, LiDAR
1,473 m³
Parcel 33014F0671/00S000, Flanders · tallest building 11.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Félix Nadar
since 20092.178.815.681
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33014F0671/00S000 | Flanders | 1,333 m² | 1 · 262 m² | 11.0 m · 1 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 2,929 EUR awarded · 2,929 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,420 EUR | 2,420 EUR |
| 2024 | 1 | 234 EUR | 234 EUR |
| 2023 | 1 | 0 EUR | 275 EUR |
| 2022 | 1 | 275 EUR | 0 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteLangemark-Poelkapelle2.178.815.681
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Of 1,173 companies in sector 46499 we hold annual accounts for 743. 568 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
Founded06-04-2009
Fiscal year end30-09
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
46499Wholesale of other household goods
43211General electrical installation work
43221Plumbing work
55203Holiday cottages, homes and apartments
55204Guest rooms (bed and breakfast)
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
E-invoicing
Reachable via Peppol
Peppol ID
0208:0810964144
Also
9925:BE0810964144
Registered
15-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.