FRIGORO
ActiveSummary
FRIGORO has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €934,210 and a net result of €45,641. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 95% of 19375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability75▲+4
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85,000 at 30 days acceptable
Liquidity ample (current ratio 30.42 against 28.81 in 2023; short-term debt: 2.7% and cash: 78.1% of total assets), and 2.7% 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○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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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 2024Solvency, return and age of the figures
Solvency
97.3%
Return on assets
4.8%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-06-2025, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
51 d early
2023
49 d early
2022
21 d late
2021
34 d early
2020
31 d early
2019
48 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 16 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
In the rankings
#9 oldest company in Sint-Niklaas, Real estate sector
Equity
€934,210▲ 5.1%
2023 · €888,569
Total assets
€959,801▲ 5.1%
2023 · €912,857
Net result
€45,641▲ 149%
2023 · €18,317
Working capital
€752,865▲ 11.4%
2023 · €675,569
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20202021202220232024
Operating result-€15,355€18,163€39,236▲ 116%€25,133▼ 35.9%€56,956▲ 127%
Net result-€4,014within the sector's middle half€25,665within the sector's middle half€28,752within the sector's middle half▲ 12.0%€18,317within the sector's middle half▼ 36.3%€45,641above the sector's middle half▲ 149%
Equity€815,835above the sector's middle half▼ 0.5%€841,500above the sector's middle half▲ 3.1%€870,252above the sector's middle half▲ 3.4%€888,569above the sector's middle half▲ 2.1%€934,210above the sector's middle half▲ 5.1%
Total assets€831,273within the sector's middle half▼ 5.4%€852,723within the sector's middle half▲ 2.6%€887,841within the sector's middle half▲ 4.1%€912,857within the sector's middle half▲ 2.8%€959,801within the sector's middle half▲ 5.1%
Debt€15,437▼ 73.9%€11,223▼ 27.3%€17,589▲ 56.7%€24,288▲ 38.1%€25,591▲ 5.4%
Working capital€539,206above the sector's middle half▼ 11.5%€557,016above the sector's middle half▲ 3.3%€622,078above the sector's middle half▲ 11.7%€675,569above the sector's middle half▲ 8.6%€752,865above the sector's middle half▲ 11.4%
Solvency98.1%above the sector's middle half▲ 4.9pp98.7%above the sector's middle half▲ 0.5pp98.0%above the sector's middle half▼ 0.7pp97.3%above the sector's middle half▼ 0.7pp97.3%above the sector's middle half=
Current ratio35.93above the sector's middle half▲ 24.2450.63above the sector's middle half▲ 14.7036.37above the sector's middle half▼ 14.2728.81above the sector's middle half▼ 7.5530.42above the sector's middle half▲ 1.60
Return on assets (ROA)-0.5%within the sector's middle half▼ 1.3pp3.0%within the sector's middle half▲ 3.5pp3.2%within the sector's middle half▲ 0.2pp2.0%within the sector's middle half▼ 1.2pp4.8%within the sector's middle half▲ 2.7pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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 recovers in 2024; 2024 is 127% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €959,801
Fixed assets
€181,345 ▼ 14.9%
Current assets
€778,457 ▲ 11.2%
Equity and liabilities €959,801
Equity
€934,210 ▲ 5.1%
Debt
€25,591 ▲ 5.4%
Debt's share of the balance-sheet total stays at 2.7%.
Key figures and ratios
EBITDA
€95,111▲
2023 · €61,943
Cash flow
€83,796▲
2023 · €55,127
Debt to equity
0.03▲
2023 · 0.03
ROE
4.9%▲
2023 · 2.1%
Interest coverage
1385.05▲
2023 · 412.54
Debt ≤ 1 year
€25,591▲
2023 · €24,288
Income taxes
€15,795▲
2023 · €6,666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
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 0.1% 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 497,662 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% | 1.7% |
| 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 75% 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 14,733 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,303 | €35,823 | €36,310 | €36,810 | €38,155 | ▲ 3.7% |
| Other operating charges640/8 | - | €21,568 | €22,072 | €24,001 | €25,067 | ▲ 4.4% |
| Gross operating margin9900 | €31,583 | €75,554 | €97,617 | €85,945 | €120,178 | ▲ 39.8% |
| Operating profit (loss)9901 | -€15,355 | €18,163 | €39,236 | €25,133 | €56,956 | ▲ 127% |
| Financial income75/76B | - | €10,486 | - | - | €4,549 | - |
| Recurring financial income75 | €18,855 | €10,486 | - | - | €4,549 | - |
| Financial charges65/66B | - | €89 | €20 | €150 | €69 | ▼ 54.3% |
| Recurring financial charges65 | €147 | €89 | €20 | €150 | €69 | ▼ 54.3% |
| Profit (loss) for the period before taxes9903 | €3,353 | €28,560 | €39,215 | €24,983 | €61,436 | ▲ 146% |
| Income taxes67/77 | €7,368 | €2,896 | €10,463 | €6,666 | €15,795 | ▲ 137% |
| Profit (loss) for the period9904 | -€4,014 | €25,665 | €28,752 | €18,317 | €45,641 | ▲ 149% |
| Profit (loss) for the period to be appropriated9905 | -€4,014 | €25,665 | €28,752 | €18,317 | €45,641 | ▲ 149% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €831,273 | €852,723 | €887,841 | €912,857 | €959,801 | ▲ 5.1% |
| Fixed assets21/28 | €276,629 | €284,484 | €248,174 | €213,000 | €181,345 | ▼ 14.9% |
| Tangible fixed assets22/27 | €276,629 | €284,484 | €248,174 | €213,000 | €181,345 | ▼ 14.9% |
| Land and buildings22 | - | €284,484 | €248,174 | €213,000 | €181,345 | ▼ 14.9% |
| Current assets29/58 | €554,644 | €568,239 | €639,668 | €699,857 | €778,457 | ▲ 11.2% |
| Amounts receivable within one year40/41 | €549,616 | €512,890 | €11,120 | €15,175 | €28,724 | ▲ 89.3% |
| Trade receivables40 | - | €512,568 | €11,120 | €15,175 | €28,724 | ▲ 89.3% |
| Other amounts receivable41 | - | €322 | - | - | - | - |
| Current investments50/53 | - | - | - | €500,000 | - | - |
| Cash at bank and in hand54/58 | €5,027 | €21,689 | €628,547 | €184,683 | €749,732 | ▲ 306% |
| Deferred charges and accrued income490/1 | - | €33,660 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €831,273 | €852,723 | €887,841 | €912,857 | €959,801 | ▲ 5.1% |
| Equity10/15 | €815,835 | €841,500 | €870,252 | €888,569 | €934,210 | ▲ 5.1% |
| Contributions10/11 | €619,734 | €619,734 | €619,734 | €619,734 | €619,734 | = |
| Capital10 | - | €619,734 | €619,734 | €619,734 | €619,734 | = |
| Issued capital100 | - | €619,734 | €619,734 | €619,734 | €619,734 | = |
| Reserves13 | €196,102 | €221,766 | €250,518 | €268,835 | €314,476 | ▲ 17.0% |
| Non-distributable reserves130/1 | - | €18,000 | €18,000 | €18,000 | €18,000 | = |
| Legal reserve130 | - | €18,000 | €18,000 | €18,000 | €18,000 | = |
| Tax-exempt reserves132 | - | €5,850 | €5,850 | €5,850 | €5,850 | = |
| Distributable reserves133 | - | €197,916 | €226,668 | €244,985 | €290,626 | ▲ 18.6% |
| Amounts payable17/49 | €15,437 | €11,223 | €17,589 | €24,288 | €25,591 | ▲ 5.4% |
| Amounts payable within one year42/48 | €15,437 | €11,223 | €17,589 | €24,288 | €25,591 | ▲ 5.4% |
| Trade debts44 | €822 | €1,182 | €1,016 | €1,340 | €1,313 | ▼ 2.0% |
| Suppliers440/4 | - | €1,182 | €1,016 | €1,340 | €1,313 | ▼ 2.0% |
| Taxes, remuneration and social security45 | - | €10,041 | €16,574 | €22,948 | €24,278 | ▲ 5.8% |
| Taxes450/3 | - | €10,041 | €16,574 | €22,948 | €24,278 | ▲ 5.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,014 | €25,665 | €28,752 | €18,317 | €45,641 | ▲ 149% |
| + Depreciation and write-downs630 | €27,303 | €35,823 | €36,310 | €36,810 | €38,155 | ▲ 3.7% |
| Operating cash flow (approximation) | €23,288 | €61,487 | €65,062 | €55,127 | €83,796 | ▲ 52.0% |
| Investment in fixed assets (approximation) | - | -€43,677 | €0 | -€1,636 | -€6,500 | ▼ 297% |
| Change in cash | - | €16,662 | €606,858 | -€443,865 | €565,050 | ▲ 227% |
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
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €45,641 ▲149%
Operating result €56,956, net result €45,641, both a record.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €25,665
Net result €25,665 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€4,014
Net result drops to -€4,014, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 35.93
Current ratio from 11.69 to 35.93; short-term debt falls from €56,991 to €15,437.
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 48 days late
2019
27-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
14-04
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 5 acts read
About the unread acts
We know of 5 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
5 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, Sint-Niklaas · 1 establishment unit since 1978
Ground area
3.6 ha
Building footprint
1.9 ha
Volume, LiDAR
88,109 m³
2 parcels, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Industriepark-Noord 15, 9100 Sint-Niklaas
since 19782.015.014.256
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C0726/00A002 | Flanders | 2.5 ha | 1 · 1.5 ha | 10.7 m · 2 fl. |
| 46442C0736/00L000 | Flanders | 1.1 ha | 1 · 3,555 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.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 4,872 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded23-05-1978
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0418403758
Also
9925:BE0418403758
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.