Checked.be
Active
BE 0837.780.981Private limited company
FRRF
Pannenstraat 108 ·8301 Knokke-Heist, Belgium· 15 yrs active
Sector: Computer programming
(62100)
Conclusion
FRRF has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22k and a net result of €3k. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 16619 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €22k |
| Net result | €3k |
| Better than sector | 95% |
| Active | 15 yrs |
Financial profile
87
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
85
Profitability
73
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2011, 15 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
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.
Checked score
85
/ 100
Excellent
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.
Indicative credit limit
€2k
estimate, not credit advice
Score history
85
2021
93
2022
78
2023
93
2024
85
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 51.51 (≥ 1.5)
+10
Quick ratio
Quick ratio 51.51 (≥ 1.0)
+5
Leverage
Debt/equity 0.02 (< 1.0)
+10
Profitability
ROE 15% (≥ 10%)
+10
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 27-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~16.4%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 62, Computer programming, consultancy and related activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 98.1% | 60.0% | |
| Net result | €3k | €29k | |
| Equity | €22k | €72k | |
| Gross operating margin | €4k | €55k | |
| Total assets | €22k | €141k |
€3k
-6.3%
21-25
€22k
+16.7%
21-25
€22k
+17.2%
21-25
€22k
+17.2%
21-25
€434
-1.9%
21-25
€434
-1.9%
21-25
51.51
+19.0%
21-25
51.51
+19.0%
21-25
98.1%
+0.4%
21-25
0.02
-16.3%
21-25
14.7%
-20.0%
21-25
14.4%
-19.7%
21-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | - | - | - | - | - |
| Net profit | -6.3% | +435.1% | -76.5% | +0.2% | - |
| Cash flow | - | - | - | - | - |
| Staff costs | - | - | - | - | - |
| Income taxes | - | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | +16.7% | +23.0% | +3.2% | +22.0% | - |
| Equity | +17.2% | +22.4% | +4.4% | +22.9% | - |
| Debt | -1.9% | +52.7% | -35.7% | -0.7% | - |
| of which ≤ 1y | -1.9% | +52.7% | -35.7% | -0.7% | - |
| of which > 1y | - | - | - | - | - |
| Working capital | +17.2% | +22.4% | +4.4% | +22.9% | - |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 51.51 | 43.28 | 53.72 | 33.47 | 27.23 |
| Quick ratio | 51.51 | 43.28 | 53.72 | 33.47 | 27.23 |
| Working capital ratio | 98.1% | 97.7% | 98.1% | 97.0% | 96.3% |
| Solvency | 98.1% | 97.7% | 98.1% | 97.0% | 96.3% |
| Debt / equity | 0.02 | 0.02 | 0.02 | 0.03 | 0.04 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | - | - | - | - | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 14.4% | 17.9% | 4.1% | 18.1% | 22.0% |
| ROE | 14.7% | 18.3% | 4.2% | 18.6% | 22.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (17 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €22k | €19k | €16k | €15k | €12k |
| Current assets | 29/58 | €22k | €19k | €16k | €15k | €12k |
| Amounts receivable within one year | 40/41 | €5k | €5k | €6k | €5k | €5k |
| Cash & bank | 54/58 | €17k | €14k | €10k | €10k | €7k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €22k | €19k | €16k | €15k | €12k |
| Equity | 10/15 | €22k | €19k | €15k | €15k | €12k |
| Contributions / capital | 10/11 | €80k | €80k | €80k | €80k | €80k |
| Accumulated profits (losses) | 14 | €-58k | €-61k | €-65k | €-65k | €-68k |
| Amounts payable | 17/49 | €434 | €443 | €290 | €451 | €455 |
| Amounts payable within one year | 42/48 | €434 | €443 | €290 | €451 | €455 |
| Trade debts payable within one year | 44 | €128 | €126 | €115 | €167 | €166 |
| Income statement | ||||||
| Gross operating margin | 9900 | €4k | €4k | €1k | €3k | €3k |
| Operating result | 9901 | €3k | €3k | €672 | €3k | €3k |
| Financial charges | 65 | €30 | €30 | €30 | €30 | €25 |
| Result before taxes | 9903 | €3k | €3k | €642 | €3k | €3k |
| Net result for the period | 9904 | €3k | €3k | €642 | €3k | €3k |
| Result to be appropriated | 9905 | €3k | €3k | €642 | €3k | €3k |
Legal Structure
| NACE primary | Computer programming(62100) |
| Legal form | Private limited company(610) |
| Incorporation | 08-07-2011 |
| Status | Active |
| Postal code | 8301 |
Establishment units
Pannenstraat 108, 8301 Knokke-Heist
since 20112.200.626.825
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31336H0832/00_000 | Flanders | 182 m² | 1 · 93 m² | 9.2 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2021net €3k ▲435%
Operating result €3k, net result €3k, both a record.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €642 ▼76.5%
Net result drops to €642, the lowest in the series; recovery starts the following year.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 14 days late
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Computer programming, consultancy and related activities62010Computer programming62100Other software publishing58290
Names & trade names
| Legal nameNL | FRRF |
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