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FROID INVEST

Active
Public limited company·Verhuur en lease van vrachtwagens· 11 yrs active
Parc Ind. des Hauts Sarts, 2e av 31 ·4040 Herstal, Belgium
Open bankruptcy
KBO/BCE: BE 0634.889.249
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Age11 yrs
Staff (FTE)6.6

Summary

Conclusion

the dossier summarised in one paragraph

A bankruptcy procedure is open for FROID INVEST according to publications in the Belgian State Gazette. The file additionally contains 1 judicial reorganisation. The 2020 annual accounts show negative equity (€-861k) and a net result of €-1.61M.

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

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

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.

Insolvency timeline

2 events
29-06-2022
Bankruptcy Opening
Date: 23-06-2022 · Tribunal de l’entreprise de Liège, division Liège · FROID INVEST SA PARC IND. DES HAUTS SARTS, 2E AV 31, 4040 HERSTAL · Publications in State Gazette ↗
03-08-2021
Judicial reorganisation Opening
Date: 29-07-2021 · Tribunal de l’entreprise de Liège · collectif · Publications in State Gazette ↗

Signals

Insufficient current data: the most recent filed accounts (financial year 2020) are too old to derive current signals.

Filing behaviour

From the deposit records, complete market-wide
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
Filed after the deadline
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 27-08-2021, 27 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.
How we compute the deadline
The year end is derived from 5 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2020, that is 31-07-2021.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 nothing on record not filed -
31-12-2023 31-07-2024 nothing on record not filed -
31-12-2022 31-07-2023 nothing on record not filed -
31-12-2021 31-07-2022 nothing on record not filed -
31-12-2020 31-07-2021 27-08-2021 27 d late 2021-55600322
31-12-2019 31-07-2020 27-10-2020 88 d late 2020-64000406
31-12-2018 31-07-2019 09-08-2019 9 d late 2019-45300595
31-12-2017 31-07-2018 24-04-2018 98 d early 2018-10600568
31-12-2016 31-07-2017 27-06-2017 34 d early 2017-23100261

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-1.61M-73.6%
Working capital€-1.42M-58.0%
Directors2

Annual accounts & ratios

Source: NBB · 2020
Annual accounts filed on 27-08-2021 with the NBB · fiscal year 2020 · volledig
€-2.00M€-1.50M€-1.00M€-500k€0Operating result 2018: €-206k€-206kNet result 2018: €-752k€-752kOperating result 2019: €11k€11kNet result 2019: €-928k€-928kOperating result 2020: €-518k€-518kNet result 2020: €-1.61M€-1.61M201820192020
Operating resultNet result
Sector comparison
Fiscal year 2020 · NACE 77, Renting & leasing · compared across all schema types (micro, abbreviated and full combined)
Metric This company Sector median Position in the sector
Solvency -22.6% 27.4%
better than 14% of 179 sector peers
Net result €-683k €6k
better than 5% of 178 sector peers
Equity €-861k €73k
better than 5% of 179 sector peers
Gross operating margin €1.32M €70k
better than 95% of 170 sector peers
Employees (FTE) 6.6 3.5
better than 66% of 60 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€120k
-80.5% 18-20
Net profit
€-1.61M
-73.6% 18-20
Cash flow
€-973k
-201.3% 18-20
Total assets
€3.81M
-25.9% 18-20
Equity
€-861k
-384.1% 18-20
Working capital
€-1.42M
-58.0% 18-20
Employees (FTE)
7
-13.2% 18-20
Income taxes
€130
-88.0% 18-20
Debt
€4.67M
-11.2% 18-20
Debt ≤ 1y
€2.34M
-2.1% 18-20
Debt > 1y
€2.20M
-17.5% 18-20
Current ratio
0.39
-37.1% 18-20
Quick ratio
0.36
-34.2% 18-20
Solvency
-22.6%
-552.9% 18-20
Debt / equity
-2.55
+82.9% 18-20
ROE
187.1%
-64.1% 18-20
ROA
-42.3%
-134.2% 18-20
Figures by fiscal year
Fiscal year2020
Depositvolledig
Revenue-
EBITDA€120k
Net profit€-1.61M
Cash flow€-973k
Staff costs-
Income taxes-
Dividends-
Total assets€3.81M
Equity€-861k
Debt€4.67M
of which ≤ 1y€2.34M
of which > 1y€2.20M
Working capital€-1.42M
Employees (FTE)6.6
Ratios (computed)
2020
Current ratio0.39
Quick ratio0.36
Working capital ratio-37.2%
Solvency-22.6%
Debt / equity-2.55
Long-term debt ratio-2.55
Interest coverage-
Gross margin-
Net margin-
ROA-42.3%
ROE187.1%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2020
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2020
Balance sheet, Assets
TOTAL ASSETS 20/58€3.81M
Fixed assets 21/28€2.90M
Tangible fixed assets 22/27€2.89M
Financial fixed assets 28€8k
Current assets 29/58€916k
Stocks & contracts in progress 3€65k
Amounts receivable within one year 40/41€752k
Cash & bank 54/58€16k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€3.81M
Equity 10/15€-861k
Contributions / capital 10/11€750k
Accumulated profits (losses) 14€-1.61M
Amounts payable 17/49€4.67M
Amounts payable after one year 17€2.20M
Amounts payable within one year 42/48€2.34M
Trade debts payable within one year 44€666k
Income statement
Gross operating margin 9900€1.32M
Operating result 9901€-518k
Financial income 75€2k
Financial charges 65€167k
Result before taxes 9903€-683k
Net result for the period 9904€-683k
Result to be appropriated 9905€-683k
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2020 · computed
0 / 100 Critical
050100
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2020 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Directors

Directors & mandates

Not yet read from the acts

8 acts for this company are in the Belgian State Gazette, of which we have read 0. This is therefore not a statement about the company: we have not extracted its directors from those acts yet.

Insolvency mandates

2 mandates
Role Name Tenure Source
Curator JEAN-PHILIPPE RENAUD
QUAI DES ARDENNES 65, 4020 LIEGE 2
 23-06-2022 → present Belgian State Gazette
Curator ALAIN BODEUS
QUAI DE ROME 19/8, 4000 LIEGE 1
 23-06-2022 → present Belgian State Gazette

Legal Structure

NACE primary Verhuur en lease van vrachtwagens(77120)
Legal form Public limited company(014)
Incorporation06-08-2015
StatusActive
Postal code4040
First BS signal 03-08-2021
Latest BS signal 29-06-2022

Structure & network

Ownership & control

No ownership or control structure found in the sources.

For this we read shareholding and parent/subsidiary relations from the acts in the Belgian State Gazette, plus the board seats that legal entities hold in one another. Nothing of the sort is published for this company, which is common: most Belgian companies do not publish a shareholding structure.

2 court or liquidation mandates are on record for this company. Such a mandate is a fact about the company itself, not about a tie to another one: two bankruptcies handled by the same receiver are two separate cases. They are listed under Directors & mandates.

Locations & real estate

Registered office

from the Crossroads Bank
Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Parc Ind. des Hauts Sarts, 2e av 314040 Herstal

Establishment units

1 location
FROID INVEST
Parc Ind. des Hauts Sarts, 2e av 31, 4040 HerstalVervaardiging van machines en apparaten voor klimaatregeling, voor niet-huishoudelijk gebruik
since 20152.253.002.172
Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Publications

Lifecycle & Insolvency Signals

2 events from the State Gazette
29-06-2022
Bankruptcy Opening
Date: 23-06-2022 · Tribunal de l’entreprise de Liège, division Liège · FROID INVEST SA PARC IND. DES HAUTS SARTS, 2E AV 31, 4040 HERSTAL · Publications in State Gazette ↗
03-08-2021
Judicial reorganisation Opening
Date: 29-07-2021 · Tribunal de l’entreprise de Liège · collectif · Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262021-08-03 · Judicial reorganisation · Opening2022-06-29 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes
Health0Profitability100Solvency33Growth32Stability0
33 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0
Profitability 100
Solvency 33
Growth 32
Stability 0

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AI due-diligence brief

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Credit advice

verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 45 of the 360 companies in this sector. 24 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Verhuur en lease van vrachtwagens en overige motorvoertuigen (> 3,5 ton)77120Verhuur en lease van vrachtwagens77120Detailhandel in auto's en lichte bestelwagens (= 3,5 ton)45113Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (= 3,5 ton)45201Algemeen onderhoud en reparatie van overige motorvoertuigen (> 3,5 ton)45202Carrosserieherstelling45204Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)47811Verhuur en lease van personenauto's en lichte bestelwagens (< 3,5 ton)77110Verhuur en lease van personenauto’s en andere lichte motorvoertuigen77110Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (<= 3,5 ton)95311Algemeen onderhoud en reparatie van overige motorvoertuigen (> 3,5 ton)95312Carrosserieherstelling (inclusief spuiten en verven)95314
Primary activity highlighted.
Names & trade names
Legal nameFR FROID INVEST
Registered office
Parc Ind. des Hauts Sarts, 2e av 31
4040 Herstal, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.