Froster
Open bankruptcyA bankruptcy procedure is open for Froster according to publications in the Belgian State Gazette; curator: MARGA PIETERS.
Summary
The 2023 annual accounts show equity of €1.28M and a net result of €-363k.
Signals
Two signals.
+raises risk
Checked, nothing found (1)
Financials · fiscal year 2023, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€24.31M▲ 2.2%
2022 · €23.77M
2018: €25.59M
2019: €25.59M
2020: €26.55M
2021: €22.67M
2022: €23.77M
2018 → 2023
EBIT margin
-1.1%▼ 1.4pp
2022 · 0.3%
2018: 1.8%
2019: 1.8%
2020: -0.1%
2021: -1.2%
2022: 0.3%
2018 → 2023
Net result
€-363k▼ 1,701%
2022 · €-20k
2018: €258k
2019: €258k
2020: €-148k
2021: €-346k
2022: €-20k
2018 → 2023
Working capital
€567k▲ 311%
2022 · €138k
2018: €881k
2019: €-46k
2020: €-46k
2021: €-178k
2022: €138k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Turnover€25.59M-€26.55M▲ 3.8%€22.67M▼ 14.6%€23.77M▲ 4.9%€24.31M▲ 2.2%
Equity€2.24M-€2.09M▼ 6.6%€1.66M▼ 20.7%€1.64M▼ 1.2%€1.28M▼ 22.2%
Operating result€466k-€-37k€-278k▼ 652%€72k€-270k
Net result€258k-€-148k€-346k▼ 133%€-20k▲ 94.2%€-363k▼ 1,701%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €270k after €72k in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €7.94M
Fixed assets
€897k ▼ 48.4%
Current assets
€7.04M ▲ 13.1%
Equity and liabilities €7.94M
Equity
€1.28M ▼ 22.2%
Debt
€6.67M ▲ 5.3%
Debt's share of the balance-sheet total rises from 79.4% to 83.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€149k▼
2022 · €508k
Cash flow
€56k▼
2022 · €416k
Current ratio
1.09▲
2022 · 1.02
Quick ratio
0.74▲
2022 · 0.74
Debt to equity
5.23▲
2022 · 3.86
ROE
-28.5%▼
2022 · -1.2%
ROA
-4.6%▼
2022 · -0.3%
Interest coverage
1.83▼
2022 · 6.40
Debt ≤ 1 year
€6.48M▲
2022 · €6.09M
Debt > 1 year
€188k▼
2022 · €239k
Staff costs
€2.39M▲
2022 · €2.03M
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 · 2023 against 2022 · 76 lines
Balance sheet
Code20222023
Assets
Total assets20/58€7.97M€7.94M▼
Fixed assets21/28€1.74M€897k▼
Intangible fixed assets21€177k€85k▼
Tangible fixed assets22/27€1.02M€810k▼
Plant, machinery and equipment23€8k€7k▼
Furniture and vehicles24€16k€12k▼
Leasing and similar rights25€406k€330k▼
Other tangible fixed assets26€590k€461k▼
Financial fixed assets28€542k€2k▼
Companies linked by participating interests282/3€541k€0▼
Amounts receivable283€541k€0▼
Other financial fixed assets284/8€2k€2k=
Amounts receivable and cash guarantees285/8€2k€2k=
Current assets29/58€6.23M€7.04M▲
Stocks and contracts in progress3€1.74M€2.22M▲
Stocks30/36€1.74M€2.22M▲
Goods purchased for resale34€1.74M€2.22M▲
Amounts receivable within one year40/41€2.97M€3.06M▲
Trade receivables40€2.87M€3.04M▲
Other amounts receivable41€101k€20k▼
Cash at bank and in hand54/58€511k€625k▲
Deferred charges and accrued income490/1€1.01M€1.14M▲
Equity and liabilities
Total equity and liabilities10/49€7.97M€7.94M▼
Equity10/15€1.64M€1.28M▼
Contributions10/11€1.40M€1.40M=
Capital10€1.40M€1.40M=
Issued capital100€1.40M€1.40M=
Reserves13€480k€480k=
Non-distributable reserves130/1€140k€140k=
Legal reserve130€140k€140k=
Distributable reserves133€340k€340k=
Profit (loss) carried forward14€-241k€-604k▼
Amounts payable17/49€6.33M€6.67M▲
Amounts payable after more than one year17€239k€188k▼
Financial debts170/4€239k€188k▼
Leasing and similar obligations172€239k€188k▼
Amounts payable within one year42/48€6.09M€6.48M▲
Current portion of amounts payable after more than one year42€181k€147k▼
Financial debts43€1.92M€1.92M=
Credit institutions430/8€1.92M€1.92M=
Trade debts44€3.61M€4.07M▲
Suppliers440/4€3.61M€4.07M▲
Taxes, remuneration and social security45€385k€322k▼
Taxes450/3€160k€81k▼
Remuneration and social security454/9€224k€241k▲
Other amounts payable47/48-€22k
Income statement
Code20222023
Operating income70/76A€23.89M€24.49M▲
Turnover70€23.77M€24.31M▲
Other operating income74€123k€161k▲
Non-recurring operating income76A-€21k
Operating charges60/66A€23.82M€24.76M▲
Goods for resale, raw materials and consumables60€18.95M€19.90M▲
Purchases600/8€19.09M€20.38M▲
Change in stocks: decrease (increase)609€-141k€-484k▼
Services and other goods61€2.33M€1.97M▼
Remuneration, social security and pensions62€2.03M€2.39M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€436k€419k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€65k€11k▼
Other operating charges640/8€13k€75k▲
Non-recurring operating charges66A-€2k
Operating profit (loss)9901€72k€-270k▼
Financial income75/76B€23k€31k▲
Recurring financial income75€23k€31k▲
Income from financial fixed assets750-€24k
Income from current assets751€23k-
Other financial income752/9€733€6k▲
Financial charges65/66B€115k€124k▲
Recurring financial charges65€115k€124k▲
Debt charges650€79k€81k▲
Other financial charges652/9€36k€43k▲
Profit (loss) for the period before taxes9903€-20k€-363k▼
Profit (loss) for the period9904€-20k€-363k▼
Profit (loss) for the period to be appropriated9905€-20k€-363k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-241k€-604k▼
Profit (loss) brought forward from the previous period14P€-221k€-241k▼
Social balance
Average headcount (FTE)908735.134.7▼
The notes to these accounts (71 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
17-01
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · FROSTER NV ZOOMSTRAAT 2, 9160 LOKEREN · event 13-01-2025
07-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 160 days late
2023
31-12
Financial
Weakest financial yearnet €-363k
Net result drops to €-363k, the lowest in the series.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 60 days late
2022
14-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 45 days late
2021
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 12 days late
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 63 days late
2016
16-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 16 days late
2015
28-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 59 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
14 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, Lokeren · 1 establishment unit since 1998
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.
Zoomstraat 29160 LokerenGround area
1,554 m²
Building footprint
310 m²
Volume, LiDAR
2,086 m³
Parcel 46382B0880/00R000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ROMECK NV
since 19982.085.791.493
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46382B0880/00R000 | Flanders | 1,554 m² | 1 · 310 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MARGA PIETERS AFFLIGEMDREEF 144, 9300 AALST- |
13-01-2025 → present |
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Of 222 companies in sector 46391 we hold annual accounts for 138. 88 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-02-1998
Fiscal year end31-12
Activities, NACEBEL 2025
46391Wholesale trade
47110Non-specialised retail sale with food, beverages or tobacco predominating
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.