LARFROST
ActiveSummary
LARFROST has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.5m and a net result of €1.8m. Equity is growing by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 62% of 8190 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+3
Solvency81▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €750,000 at 30 days acceptable
Liquidity ample (current ratio 1.53 against 1.46 in 2024; short-term debt: 18.9% and cash: 3.3% of total assets), and 44.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
55.8%
Return on assets
9.8%
Age of the figures
13 mo
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-08-2025 was due by 31-03-2026 and was filed on 12-02-2026, 47 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
47 d early
2024
74 d early
2023
103 d early
2022
21 d early
2021
77 d early
2020
99 d early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 60 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-08-2026 and is due by 31-03-2027. Nothing is late today. Usually files around 16 January (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-08-2026 close30-09-2026 today31-03-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#5 company by equity in Menen, Wholesale and retail trade sector#6 company by total assets in Menen, Wholesale and retail trade sector
Equity
€10.5m▲ 12.0%
2024 · €9.3m
Total assets
€18.7m▼ 3.8%
2024 · €19.5m
Net result
€1.8m▲ 26.8%
2024 · €1.5m
Working capital
€1.9m▲ 5.0%
2024 · €1.8m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1.8m▲ 30.5%€752,305▼ 57.4%€1.7m▲ 124%€1.9m▲ 15.4%€2.5m▲ 29.2%
Net result€1.2mabove the sector's middle half▲ 8.0%€489,920above the sector's middle half▼ 60.7%€1.2mabove the sector's middle half▲ 144%€1.5mabove the sector's middle half▲ 21.7%€1.8mabove the sector's middle half▲ 26.8%
Equity€7.5mabove the sector's middle half▲ 19.8%€8.0mabove the sector's middle half▲ 6.6%€9.2mabove the sector's middle half▲ 14.8%€9.3mabove the sector's middle half▲ 1.9%€10.5mabove the sector's middle half▲ 12.0%
Total assets€19.8mabove the sector's middle half▼ 5.6%€18.1mabove the sector's middle half▼ 8.3%€17.7mabove the sector's middle half▼ 2.3%€19.5mabove the sector's middle half▲ 10.0%€18.7mabove the sector's middle half▼ 3.8%
Debt€12.3m▼ 16.4%€10.1m▼ 17.4%€8.5m▼ 15.8%€10.1m▲ 18.7%€8.3m▼ 18.5%
Working capital€1.7mabove the sector's middle half▲ 78.9%€1.8mabove the sector's middle half▲ 5.1%€2.5mabove the sector's middle half▲ 36.6%€1.8mabove the sector's middle half▼ 28.9%€1.9mabove the sector's middle half▲ 5.0%
Solvency37.9%within the sector's middle half▲ 8.0pp44.0%within the sector's middle half▲ 6.1pp51.7%within the sector's middle half▲ 7.7pp47.9%within the sector's middle half▼ 3.8pp55.8%within the sector's middle half▲ 7.9pp
Current ratio1.61within the sector's middle half▲ 0.321.71within the sector's middle half▲ 0.101.92within the sector's middle half▲ 0.211.46within the sector's middle half▼ 0.461.53within the sector's middle half▲ 0.07
Return on assets (ROA)6.3%within the sector's middle half▲ 0.8pp2.7%within the sector's middle half▼ 3.6pp6.7%within the sector's middle half▲ 4.0pp7.5%within the sector's middle half▲ 0.7pp9.8%within the sector's middle half▲ 2.4pp
Staff (FTE)11.8above the sector's middle half▼ 3.3%12.8above the sector's middle half▲ 8.5%10.9above the sector's middle half▼ 14.8%10.8above the sector's middle half▼ 0.9%10.7above the sector's middle half▼ 0.9%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 29% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18.7m
Fixed assets
€13.3m ▼ 3.6%
Current assets
€5.4m ▼ 4.4%
Equity and liabilities €18.7m
Equity
€10.5m ▲ 12.0%
Debt
€8.3m ▼ 18.5%
Debt's share of the balance-sheet total falls from 52.1% to 44.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3.6m▲
2024 · €3.4m
Cash flow
€3.0m▲
2024 · €2.9m
Debt to equity
0.79▼
2024 · 1.09
ROE
17.6%▲
2024 · 15.6%
Interest coverage
32.94▼
2024 · 50.48
Debt ≤ 1 year
€3.5m▼
2024 · €3.9m
Debt > 1 year
€4.7m▼
2024 · €6.2m
Income taxes
€598,344▲
2024 · €476,686
Staff costs
€627,864▲
2024 · €605,679
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 20,134 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €567,427 | €598,222 | €605,679 | €627,864 | ▲ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.9m | €1.6m | €1.4m | €1.4m | €1.1m | ▼ 20.0% |
| Other operating charges640/8 | - | €135,983 | €148,104 | €161,252 | €171,175 | ▲ 6.2% |
| Gross operating margin9900 | €4.4m | €3.1m | €3.8m | €4.1m | €4.4m | ▲ 7.7% |
| Operating profit (loss)9901 | €1.8m | €752,305 | €1.7m | €1.9m | €2.5m | ▲ 29.2% |
| Financial income75/76B | - | €396 | €214 | €55,347 | €44,529 | ▼ 19.5% |
| Recurring financial income75 | €538 | €396 | €214 | €55,347 | €44,529 | ▼ 19.5% |
| Financial charges65/66B | - | €114,511 | €88,498 | €66,492 | €110,516 | ▲ 66.2% |
| Recurring financial charges65 | €140,093 | €114,511 | €88,498 | €66,492 | €110,516 | ▲ 66.2% |
| Profit (loss) for the period before taxes9903 | €1.6m | €638,190 | €1.6m | €1.9m | €2.4m | ▲ 26.5% |
| Income taxes67/77 | €381,368 | €148,270 | €400,135 | €476,686 | €598,344 | ▲ 25.5% |
| Profit (loss) for the period9904 | €1.2m | €489,920 | €1.2m | €1.5m | €1.8m | ▲ 26.8% |
| Profit (loss) for the period to be appropriated9905 | €1.2m | €489,920 | €1.2m | €1.5m | €1.8m | ▲ 26.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19.8m | €18.1m | €17.7m | €19.5m | €18.7m | ▼ 3.8% |
| Fixed assets21/28 | €15.1m | €13.7m | €12.5m | €13.8m | €13.3m | ▼ 3.6% |
| Tangible fixed assets22/27 | €15.1m | €13.7m | €12.5m | €13.8m | €13.3m | ▼ 3.6% |
| Land and buildings22 | - | €12.8m | €11.9m | €13.3m | €12.6m | ▼ 5.0% |
| Plant, machinery and equipment23 | - | €510,351 | €227,442 | €162,307 | €172,878 | ▲ 6.5% |
| Furniture and vehicles24 | - | €339,908 | €310,761 | €368,461 | €515,946 | ▲ 40.0% |
| Financial fixed assets28 | €1,863 | €1,863 | €1,863 | €1,863 | €1,863 | = |
| Current assets29/58 | €4.6m | €4.4m | €5.2m | €5.7m | €5.4m | ▼ 4.4% |
| Amounts receivable within one year40/41 | €1.8m | €2.1m | €2.4m | €2.1m | €1.7m | ▼ 18.9% |
| Trade receivables40 | - | €2.0m | €2.4m | €2.1m | €1.7m | ▼ 19.3% |
| Other amounts receivable41 | - | €48,615 | €21,910 | €22,716 | €25,661 | ▲ 13.0% |
| Current investments50/53 | - | - | - | €2.5m | €3.0m | ▲ 20.0% |
| Cash at bank and in hand54/58 | €2.7m | €2.3m | €2.8m | €983,857 | €621,207 | ▼ 36.9% |
| Deferred charges and accrued income490/1 | - | €85,894 | €71,763 | €109,739 | €115,097 | ▲ 4.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19.8m | €18.1m | €17.7m | €19.5m | €18.7m | ▼ 3.8% |
| Equity10/15 | €7.5m | €8.0m | €9.2m | €9.3m | €10.5m | ▲ 12.0% |
| Contributions10/11 | €1.6m | €1.6m | €1.6m | €300,000 | €300,000 | = |
| Capital10 | - | €1.6m | €1.6m | €300,000 | €300,000 | = |
| Issued capital100 | - | €1.6m | €1.6m | €300,000 | €300,000 | = |
| Revaluation surpluses12 | - | €448,048 | €448,048 | €448,048 | €539,832 | ▲ 20.5% |
| Reserves13 | €5.4m | €5.9m | €7.1m | €8.5m | €9.6m | ▲ 12.2% |
| Non-distributable reserves130/1 | - | €156,900 | €156,900 | €156,900 | €156,900 | = |
| Legal reserve130 | - | €156,900 | €156,900 | €156,900 | €156,900 | = |
| Tax-exempt reserves132 | - | €56,843 | €56,843 | €56,843 | €56,843 | = |
| Distributable reserves133 | - | €5.7m | €6.9m | €8.3m | €9.4m | ▲ 12.5% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Investment grants15 | - | €58,256 | €47,298 | €36,460 | €25,622 | ▼ 29.7% |
| Amounts payable17/49 | €12.3m | €10.1m | €8.5m | €10.1m | €8.3m | ▼ 18.5% |
| Amounts payable after more than one year17 | €9.4m | €7.5m | €5.8m | €6.2m | €4.7m | ▼ 24.6% |
| Financial debts170/4 | - | €7.5m | €5.8m | €6.2m | €4.7m | ▼ 24.6% |
| Amounts payable within one year42/48 | €2.9m | €2.6m | €2.7m | €3.9m | €3.5m | ▼ 8.7% |
| Current portion of amounts payable after more than one year42 | - | €1.9m | €1.7m | €1.6m | €1.5m | ▼ 1.6% |
| Trade debts44 | €802,493 | €602,391 | €757,165 | €895,349 | €978,992 | ▲ 9.3% |
| Suppliers440/4 | - | €602,391 | €757,165 | €895,349 | €978,992 | ▲ 9.3% |
| Taxes, remuneration and social security45 | - | €123,815 | €232,672 | €156,138 | €227,878 | ▲ 45.9% |
| Taxes450/3 | - | €49,414 | €155,046 | €73,876 | €147,525 | ▲ 99.7% |
| Remuneration and social security454/9 | - | €74,402 | €77,625 | €82,263 | €80,353 | ▼ 2.3% |
| Other amounts payable47/48 | - | €5,000 | €5,000 | €1.3m | €805,000 | ▼ 36.8% |
| Accrued charges and deferred income492/3 | - | €18,837 | €19,816 | €25,476 | €25,981 | ▲ 2.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.2m | €489,920 | €1.2m | €1.5m | €1.8m | ▲ 26.8% |
| + Depreciation and write-downs630 | €1.9m | €1.6m | €1.4m | €1.4m | €1.1m | ▼ 20.0% |
| Operating cash flow (approximation) | €3.2m | €2.1m | €2.6m | €2.9m | €3.0m | ▲ 3.7% |
| Investment in fixed assets (approximation) | - | -€161,818 | -€185,891 | -€2.8m | -€633,280 | ▲ 77.0% |
| Change in cash | - | -€424,834 | €495,898 | -€1.8m | -€362,649 | ▲ 79.7% |
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
12-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-08
Financial
Highest result since 2019net €1.8m ▲26.8%
Operating result €2.5m, net result €1.8m, both a record.
31-08
Financial
Equity above €10mEq €10.5m ▲12%
7 profitable years in a row build equity to €10.5m.
16-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
19-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
10-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
13-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
20-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Menen · 3 establishment units since 1999
Ground area
8,898 m²
Building footprint
2,567 m²
Volume, LiDAR
15,118 m³
Parcel 34024C0383/00N000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
3 establishment units
Larfrost
since 19992.092.636.725
Larfrost
since 20152.239.984.871
Larfrost
since 20192.302.730.807
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34024C0383/00N000 | Flanders | 8,898 m² | 1 · 2,567 m² | 8.8 m · 2 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.
Structure & network
Owners and holdings
1 ownerOwners 1
-
49%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
3 sitesMenen2.092.636.725
Menen2.239.984.871
Menen2.302.730.807
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Of 223 companies in sector 46391 we hold annual accounts for 139. 43 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
Founded02-07-1999
Fiscal year end31-08
Activities, NACEBEL 2025
46391Wholesale trade
52100Warehousing and storage
10120Manufacture of food products
10130Manufacture of food products
10200Manufacture of food products
10312Manufacture of food products
10393Manufacture of food products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466424894
Registered
10-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.