FRIGO MAINTENANCE
ActiveSummary
FRIGO MAINTENANCE has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €423k and a net result of €12k. Equity is growing by ~17% per year across the filed fiscal years. Its solvency ranks better than 16% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▲+40
Solvency40▼-6
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23k at 30 days acceptable
Liquidity tight (current ratio 1.16 against 1.83 in 2024; short-term debt: 19.5% and cash: 8.3% of total assets), and 84.9% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
15.1%
Return on assets
0.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 7838 sector peers (2025).
NBB · sector comparisonPosition among 7838 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 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 · 10 filingsDeviation from the deadline
2025
14 d late
2024
24 d early
2023
6 d late
2022
40 d early
2021
5 d early
2020
9 d early
2019
4 d early
← 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€12k
2024 · €-243k
2018: €68k
2019: €79k▲ +16.3% vs 2018
2020: €56k▼ -29.0% vs 2019
2021: €97k▲ +73.0% vs 2020
2022: €137k▲ +41.3% vs 2021highest in 8 years
2023: €108k▼ -20.8% vs 2022
2024: €-243k▼ -324% vs 2023lowest in 8 years
2025: €12k▲ +105% vs 2024
2018 → 2025
Working capital
€88k▼ 71.7%
2024 · €311k
2018: €188k
2019: €238k▲ +26.9% vs 2018
2020: €290k▲ +22.0% vs 2019
2021: €365k▲ +25.6% vs 2020
2022: €251k▼ -31.1% vs 2021
2023: €858k▲ +241% vs 2022highest in 8 years
2024: €311k▼ -63.8% vs 2023
2025: €88k▼ -71.7% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€433k-€626k▲ 44.6%€1.04M▲ 65.8%€632k▼ 39.2%€423k▼ 33.0%
2021: €433k
2022: €626k▲ +44.6% vs 2021
2023: €1.04M▲ +65.8% vs 2022highest in 5 years
2024: €632k▼ -39.2% vs 2023
2025: €423k▼ -33.0% vs 2024lowest in 5 years
Operating result€139k-€192k▲ 38.2%€151k▼ 21.5%€-211k€55k
2021: €139k
2022: €192k▲ +38.2% vs 2021highest in 5 years
2023: €151k▼ -21.5% vs 2022
2024: €-211k▼ -240% vs 2023lowest in 5 years
2025: €55k▲ +126% vs 2024
Net result€97k-€137k▲ 41.3%€108k▼ 20.8%€-243k€12k
2021: €97k
2022: €137k▲ +41.3% vs 2021highest in 5 years
2023: €108k▼ -20.8% vs 2022
2024: €-243k▼ -324% vs 2023lowest in 5 years
2025: €12k▲ +105% vs 2024
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €55k after a loss of €211k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.81M
Fixed assets
€2.17M ▼ 4.0%
Current assets
€636k ▼ 7.2%
Equity and liabilities €2.81M
Equity
€423k ▼ 33.0%
Debt
€2.38M ▲ 2.9%
Debt's share of the balance-sheet total rises from 78.6% to 84.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€231k▲
2024 · €13k
Cash flow
€188k▲
2024 · €-20k
Current ratio
1.16▼
2024 · 1.83
Debt to equity
5.63▲
2024 · 3.66
ROE
2.8%▲
2024 · -38.5%
ROA
0.4%▲
2024 · -8.3%
Interest coverage
3.68▲
2024 · 0.20
Debt ≤ 1 year
€548k▲
2024 · €374k
Debt > 1 year
€1.83M▼
2024 · €1.94M
Income taxes
€797▼
2024 · €6k
Staff costs
€647k▲
2024 · €526k
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 · 61 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.95M€2.81M▼
Fixed assets21/28€2.26M€2.17M▼
Tangible fixed assets22/27€2.25M€2.16M▼
Land and buildings22€2.06M€1.95M▼
Plant, machinery and equipment23€54k€52k▼
Furniture and vehicles24€137k€133k▼
Assets under construction and advance payments27-€19k
Financial fixed assets28€10k€14k▲
Current assets29/58€685k€636k▼
Amounts receivable within one year40/41€249k€381k▲
Trade receivables40€214k€329k▲
Other amounts receivable41€34k€52k▲
Cash at bank and in hand54/58€394k€232k▼
Deferred charges and accrued income490/1€42k€23k▼
Equity and liabilities
Total equity and liabilities10/49€2.95M€2.81M▼
Equity10/15€632k€423k▼
Contributions10/11€20k€20k=
Reserves13€336k€135k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€24k€24k=
Distributable reserves133€310k€108k▼
Profit (loss) carried forward14€-67k€-55k▲
Investment grants15€343k€324k▼
Amounts payable17/49€2.31M€2.38M▲
Amounts payable after more than one year17€1.94M€1.83M▼
Financial debts170/4€1.94M€1.83M▼
Amounts payable within one year42/48€374k€548k▲
Current portion of amounts payable after more than one year42€137k€145k▲
Financial debts43€9k€10k▲
Credit institutions430/8€9k€10k▲
Trade debts44€107k€143k▲
Suppliers440/4€107k€143k▲
Taxes, remuneration and social security45€41k€53k▲
Taxes450/3€8k€13k▲
Remuneration and social security454/9€34k€40k▲
Other amounts payable47/48€81k€196k▲
Accrued charges and deferred income492/3€3k€3k▼
Income statement
Code20242025
Non-recurring operating income76A€3k-
Remuneration, social security and pensions62€526k€647k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€224k€176k▼
Other operating charges640/8€4k€10k▲
Gross operating margin9900€543k€888k▲
Operating profit (loss)9901€-211k€55k▲
Financial income75/76B€37k€20k▼
Recurring financial income75€37k€20k▼
Non-recurring financial income76B€100-
Financial charges65/66B€64k€63k▼
Recurring financial charges65€64k€63k▼
Profit (loss) for the period before taxes9903€-238k€13k▲
Income taxes67/77€6k€797▼
Profit (loss) for the period9904€-243k€12k▲
Transfer from tax-exempt reserves789€69k-
Transfer to tax-exempt reserves689€4k-
Profit (loss) for the period to be appropriated9905€-179k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-67k€-55k▲
Profit (loss) brought forward from the previous period14P€112k€-67k▼
Transfer from equity791/2€146k€202k▲
Profit to be distributed694/7€146k€202k▲
Return on contributions (dividend)694€146k€202k▲
Social balance
Average headcount (FTE)90879.811.6▲
The notes to these accounts (26 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €633 | - | - | €3k | - | - |
| Remuneration, social security and pensions62 | €315k | €437k | €447k | €526k | €647k | ▲ 23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36k | €52k | €61k | €224k | €176k | ▼ 21.4% |
| Other operating charges640/8 | €5k | €3k | €3k | €4k | €10k | ▲ 141% |
| Non-recurring operating charges66A | €133 | - | - | - | - | - |
| Gross operating margin9900 | €494k | €683k | €662k | €543k | €888k | ▲ 63.6% |
| Operating profit (loss)9901 | €139k | €192k | €151k | €-211k | €55k | ▲ 126% |
| Financial income75/76B | €1k | €398 | €94 | €37k | €20k | ▼ 44.8% |
| Recurring financial income75 | €1k | €98 | €12 | €37k | €20k | ▼ 44.7% |
| Non-recurring financial income76B | - | €300 | €82 | €100 | - | - |
| Financial charges65/66B | €1k | €2k | €31k | €64k | €63k | ▼ 2.3% |
| Recurring financial charges65 | €1k | €2k | €31k | €64k | €63k | ▼ 2.3% |
| Profit (loss) for the period before taxes9903 | €139k | €190k | €120k | €-238k | €13k | ▲ 105% |
| Income taxes67/77 | €42k | €53k | €11k | €6k | €797 | ▼ 85.7% |
| Profit (loss) for the period9904 | €97k | €137k | €108k | €-243k | €12k | ▲ 105% |
| Transfer from tax-exempt reserves789 | - | - | - | €69k | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €4k | - | - |
| Profit (loss) for the period to be appropriated9905 | €97k | €137k | €108k | €-179k | €12k | ▲ 107% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €640k | €1.00M | €3.42M | €2.95M | €2.81M | ▼ 4.8% |
| Fixed assets21/28 | €102k | €390k | €2.19M | €2.26M | €2.17M | ▼ 4.0% |
| Tangible fixed assets22/27 | €98k | €380k | €2.18M | €2.25M | €2.16M | ▼ 4.2% |
| Land and buildings22 | - | €94k | €2.03M | €2.06M | €1.95M | ▼ 5.3% |
| Plant, machinery and equipment23 | €13k | €9k | €7k | €54k | €52k | ▼ 3.8% |
| Furniture and vehicles24 | €83k | €63k | €150k | €137k | €133k | ▼ 2.9% |
| Other tangible fixed assets26 | €2k | €1k | €915 | - | - | - |
| Assets under construction and advance payments27 | - | €213k | - | - | €19k | - |
| Financial fixed assets28 | €4k | €9k | €9k | €10k | €14k | ▲ 43.4% |
| Current assets29/58 | €538k | €611k | €1.23M | €685k | €636k | ▼ 7.2% |
| Stocks and contracts in progress3 | €29k | - | - | - | - | - |
| Contracts in progress37 | €29k | - | - | - | - | - |
| Amounts receivable within one year40/41 | €210k | €357k | €960k | €249k | €381k | ▲ 53.0% |
| Trade receivables40 | €150k | €241k | €314k | €214k | €329k | ▲ 53.3% |
| Other amounts receivable41 | €60k | €116k | €646k | €34k | €52k | ▲ 51.0% |
| Cash at bank and in hand54/58 | €269k | €219k | €233k | €394k | €232k | ▼ 41.0% |
| Deferred charges and accrued income490/1 | €29k | €34k | €37k | €42k | €23k | ▼ 46.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €640k | €1.00M | €3.42M | €2.95M | €2.81M | ▼ 4.8% |
| Equity10/15 | €433k | €626k | €1.04M | €632k | €423k | ▼ 33.0% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves13 | €301k | €438k | €546k | €336k | €135k | ▼ 60.0% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €88k | €88k | €24k | €24k | = |
| Distributable reserves133 | €299k | €348k | €456k | €310k | €108k | ▼ 65.0% |
| Profit (loss) carried forward14 | €112k | €112k | €112k | €-67k | €-55k | ▲ 17.7% |
| Investment grants15 | - | €56k | €360k | €343k | €324k | ▼ 5.5% |
| Amounts payable17/49 | €207k | €374k | €2.38M | €2.31M | €2.38M | ▲ 2.9% |
| Amounts payable after more than one year17 | €34k | €14k | €2.00M | €1.94M | €1.83M | ▼ 5.4% |
| Financial debts170/4 | €34k | €14k | €2.00M | €1.94M | €1.83M | ▼ 5.4% |
| Amounts payable within one year42/48 | €173k | €359k | €371k | €374k | €548k | ▲ 46.3% |
| Current portion of amounts payable after more than one year42 | €21k | €20k | €73k | €137k | €145k | ▲ 5.7% |
| Financial debts43 | €11k | €29k | €32k | €9k | €10k | ▲ 18.2% |
| Credit institutions430/8 | €11k | €29k | €32k | €9k | €10k | ▲ 18.2% |
| Trade debts44 | €77k | €244k | €187k | €107k | €143k | ▲ 34.3% |
| Suppliers440/4 | €77k | €244k | €187k | €107k | €143k | ▲ 34.3% |
| Advances received on contracts in progress46 | - | - | €36k | - | - | - |
| Taxes, remuneration and social security45 | €63k | €42k | €41k | €41k | €53k | ▲ 29.0% |
| Taxes450/3 | €14k | €5k | €11k | €8k | €13k | ▲ 71.9% |
| Remuneration and social security454/9 | €49k | €38k | €30k | €34k | €40k | ▲ 19.4% |
| Other amounts payable47/48 | €2k | €24k | €2k | €81k | €196k | ▲ 143% |
| Accrued charges and deferred income492/3 | €83 | €828 | €9k | €3k | €3k | ▼ 4.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €97k | €137k | €108k | €-243k | €12k | ▲ 105% |
| + Depreciation and write-downs630 | €36k | €52k | €61k | €224k | €176k | ▼ 21.4% |
| Operating cash flow (approximation) | €133k | €189k | €169k | €-20k | €188k | ▲ 1,041% |
| Investment in fixed assets (approximation) | - | €-339k | €-1.86M | €-292k | €-85k | ▲ 71.0% |
| Change in cash | - | €-50k | €13k | €161k | €-162k | ▼ 200% |
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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 14 days late
2025
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-243k
Net result drops to €-243k, the lowest in the series; recovery starts the following year.
06-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 6 days late
2023
31-12
Financial
Equity above €1MEq €1.04M ▲65.8%
6 profitable years in a row build equity to €1.04M.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €137k ▲41.3%
Operating result €192k, net result €137k, both a record.
31-12
Financial
Equity above €500kEq €626k ▲44.6%
5 profitable years in a row build equity to €626k.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-07
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 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, Saint-Ghislain · 1 establishment unit since 2016
Ground area
268 m²
Building footprint
65 m²
Volume, LiDAR
733 m³
Parcel 53070C0048/00S007, Wallonia · tallest building 13.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Frigo Maintenance
since 20162.248.735.954
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53070C0048/00S007 | Wallonia | 268 m² | 1 · 65 m² | 13.4 m · 4 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
Recognised contractor
7 categoriesFRIGO MAINTENANCE SRL39017
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Of 7,041 companies in sector 43221 we hold annual accounts for 3,473. 2,464 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
Founded22-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
28250Manufacture of machinery and equipment not elsewhere classified
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43230Insulation installation
71121Engineering and related technical consultancy, excluding land surveyors
85599Other education
Scores and ratios are computed by Checked and are not a credit decision.