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NORTHFREEZE

Active
Public limited companyfounded 198837 yrs activeDurmakker 12, 9940 Evergem, BelgiumKBO/BCE: BE 0436.056.075
Summary

NORTHFREEZE has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.8m and a net result of -€2.4m. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 38% of 847 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).

Risk analysisWatch ReportCompare
NORTHFREEZEActiveChecked score 62/100
Risk analysis ReportCompare

Overview

Activity
Warehousing and storage
NACE 52100NACE 63121
#3 company by total assets in Evergem, Transport and storage sector5 sites
Size
€11.2mturnover 2025
Staff
43 FTE
Equity
€4.8m
Loss
-€2.4m
Financial health
62 Healthy Checked score 2025
Bankruptcy chance 12 m
1.5%
Structure
Parent
Cube Cold Europe Belgium Bidco · 100%
Holdings
2
Accounts 32 d early0 of 14 deeds read
Why 62- Loss of €2.4m (FY 2025)- Sector Warehousing and support activities for transportation (NACE 52)- Liquidity: current ratio 0.64, cash €771,223- 5 establishment unitsShow the evidence

Checked score

Score 2025
62 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 29% of its sector peers (NACE 52, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 52-17
equity 27.5% of total assets
Liquidity 22-21
short-term debt 62.8% · cash 4.4%
Profitability 1-55
return on assets -13.5%
Bankruptcy probability, 12 months
1.5% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.5% (598 companies)
Last 24 months 11-2024: 0.3%lowest value 12-2024: 0.3%● 0.0% vs 11-2024lowest value 01-2025: 0.3%● 0.0% vs 12-2024lowest value 02-2025: 0.4%▲ +2.3% vs 01-2025 03-2025: 0.4%● 0.0% vs 02-2025 04-2025: 0.3%▼ -1.7% vs 03-2025 05-2025: 0.4%▲ +4.9% vs 04-2025 06-2025: 0.4%▲ +0.3% vs 05-2025 07-2025: 0.5%▲ +25.8% vs 06-2025 08-2025: 0.4%▼ -8.7% vs 07-2025 09-2025: 0.4%● 0.0% vs 08-2025 10-2025: 0.4%● 0.0% vs 09-2025 11-2025: 0.4%● 0.0% vs 10-2025 12-2025: 0.4%● 0.0% vs 11-2025 01-2026: 0.4%● 0.0% vs 12-2025 02-2026: 0.4%▼ -3.8% vs 01-2026 03-2026: 0.4%● 0.0% vs 02-2026 04-2026: 0.4%▼ -1.5% vs 03-2026 05-2026: 0.4%▲ +4.8% vs 04-2026 06-2026: 0.4%▲ +2.4% vs 05-2026 07-2026: 0.4%▲ +1.4% vs 06-2026 08-2026: 0.8%▲ +93.3% vs 07-2026 09-2026: 1.0%▲ +23.7% vs 08-2026 10-2026: 1.5%▲ +43.6% vs 09-2026highest value
  • Loss of €2.4m (FY 2025) raises the probability
  • Sector Warehousing and support activities for transportation (NACE 52) raises the probability
  • Liquidity: current ratio 0.64, cash €771,223 raises the probability
  • 5 establishment units raises the probability
Credit up to €300,000 at 30 days acceptable
Liquidity short (current ratio 0.64 against 1.66 in 2024; short-term debt: 62.8% and cash: 4.4% of total assets), and 72.5% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 52, small). Better than this share of them on solvency 41%, liquidity 19%, profitability 5%, growth against the median 52%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Loss of €2.4m (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Sector Warehousing and support activities for transportation (NACE 52)
In the bankruptcy model this factor raises the probability.
KBO
raises risk · Liquidity: current ratio 0.64, cash €771,223
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 5 establishment units
In the bankruptcy model this factor raises the probability.
KBO · seat and establishments
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
32 d early
2024
27 d early
2023
58 d early
2022
11 d early
2021
on the day
2020
44 d early
2019
55 d late
← 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 17 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 4 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Weakest financial yearnet -€2.4m
  3. Annual accounts filedfiscal year 2024 · full…

Key points

  • Caution: From profit to loss in 2025after €57,394 in 2024 -€2.4m View
  • Caution: Among the weakest 5% on net resultsector median €110,742 · 840 companies -€2.4m View
  • Controlled by Cube Cold Europe Belgium…ultimately: Cube Cold Europe Topco… 100% View
  • Positive: Always filed on timeaccounts within the deadline every year 6 years View

By topic

Financials

Fiscal year
2025
Turnover
€11.2m
Loss
-€2.4m
Solvency
27.5%
Turnover▲ 33.2%
Net result
20182025
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 29-06-2026Annual accounts filed
  2. 31-12-2025Weakest financial year
  3. 04-07-2025Annual accounts filed
Go to Timeline

Company details

Sites
5
Legal form
Public limited company
Activity
Warehousing and storageNACE 52100
Founded
14-12-1988
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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 What other support did companies like this one receive, and it did not?Subsidies

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