FRAPACK
ActiveThe computed 12-month bankruptcy probability of FRAPACK is 3.1% (moderate). The 2024 annual accounts show equity of €123k and a net result of €-32k. Equity is growing by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 42% of 26043 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
39
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability11▼-63
Solvency48▼-45
Growth52=
Track record100
Bankruptcy probability, 12 months
3.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days only on tighter terms
Liquidity ample (current ratio 1.59 against 2.71 in 2023; short-term debt: 11.1% and cash: 8% of total assets), but 76.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
23.1%
Return on assets
-6%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-11-2025, 109 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
109 d late
2023
72 d late
2022
66 d late
2021
30 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€123k▼ 20.6%
2023 · €155k
2021: €90k
2022: €146k
2023: €155k
2021 → 2024
Total assets
€533k▲ 135%
2023 · €227k
2021: €137k
2022: €240k
2023: €227k
2021 → 2024
Net result
€-32k
2023 · €9k
2021: €90k
2022: €56k
2023: €9k
2021 → 2024
Working capital
€35k▼ 71.6%
2023 · €123k
2021: €76k
2022: €119k
2023: €123k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€90k-€146k▲ 61.7%€155k▲ 6.5%€123k▼ 20.6%
Operating result€124k-€73k▼ 40.7%€10k▼ 86.1%€-23k
Net result€90k-€56k▼ 38.2%€9k▼ 83.1%€-32k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €23k after €10k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €533k
Fixed assets
€439k▲ 1,252%
Current assets
€94k▼ 51.7%
Equity and liabilities €533k
Equity
€123k▼ 20.6%
Debt
€410k▲ 467%
The debt ratio rises from 31.8% to 76.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-3k▼
2023 · €16k
Cash flow
€-12k▼
2023 · €15k
Solvency
23.1%▼
2023 · 68.2%
Current ratio
1.59▼
2023 · 2.71
Quick ratio
1.59▼
2023 · 2.71
Debt / equity
3.34▲
2023 · 0.47
ROE
-26.0%▼
2023 · 6.1%
ROA
-6.0%▼
2023 · 4.1%
Interest coverage
-0.28▼
2023 · 39.89
Debt
€410k▲
2023 · €72k
Debt ≤ 1 year
€59k▼
2023 · €72k
Debt > 1 year
€351k
Income taxes
€4▼
2023 · €3k
Staff costs
€126k▲
2023 · €76k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€227k€533k▲
Fixed assets21/28€32k€439k▲
Tangible fixed assets22/27€25k€437k▲
Land and buildings22-€347k
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€16k€83k▲
Other tangible fixed assets26€6k€5k▼
Financial fixed assets28€8k€2k▼
Current assets29/58€195k€94k▼
Amounts receivable within one year40/41€76k€50k▼
Trade receivables40€28k€3k▼
Other amounts receivable41€48k€46k▼
Cash at bank and in hand54/58€118k€43k▼
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€227k€533k▲
Equity10/15€155k€123k▼
Contributions10/11€100€100=
Reserves13€155k€155k=
Distributable reserves133€155k€155k=
Profit (loss) carried forward14-€-32k
Amounts payable17/49€72k€410k▲
Amounts payable after more than one year17-€351k
Financial debts170/4-€351k
Amounts payable within one year42/48€72k€59k▼
Current portion of amounts payable after more than one year42-€29k
Trade debts44€29k€15k▼
Suppliers440/4€29k€15k▼
Advances received on contracts in progress46€3k€4k▲
Taxes, remuneration and social security45€40k€11k▼
Taxes450/3€32k€3k▼
Remuneration and social security454/9€8k€8k▼
Accrued charges and deferred income492/3€500€0▼
Income statement
Code20232024
Remuneration, social security and pensions62€76k€126k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€20k▲
Other operating charges640/8€3k€48k▲
Gross operating margin9900€94k€171k▲
Operating profit (loss)9901€10k€-23k▼
Financial income75/76B€3k€3k▲
Recurring financial income75€3k€3k▲
Financial charges65/66B€395€12k▲
Recurring financial charges65€395€12k▲
Profit (loss) for the period before taxes9903€13k€-32k▼
Income taxes67/77€3k€4▼
Profit (loss) for the period9904€9k€-32k▼
Profit (loss) for the period to be appropriated9905€9k€-32k▼
Appropriation of the result
Profit (loss) to be appropriated9906€9k€-32k▼
Transfer to equity691/2€9k€0▼
To other reserves6921€9k€0▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
17-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 109 days late
2024
31-12
Financial
Weakest financial yearnet €-32k ▼440%
Net result drops to €-32k, the lowest in the series.
11-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 72 days late
2023
31-12
Financial
Equity above €150kEq €155k ▲6.5%
3 profitable years in a row build equity to €155k.
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 66 days late
2022
31-12
Financial
Equity above €100kEq €146k ▲61.7%
2 profitable years in a row build equity to €146k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Antwerpen · 2 establishment units since 2020
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.
Galgenweellaan 262050 AntwerpenGround area
429 m²
Building footprint
178 m²
Volume, LiDAR
2,020 m³
2 parcels, Flanders · tallest building 16.8 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
Frapack
since 20202.318.881.406
Studio Morgen
since 20232.349.986.633
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11813N0780/00G002 | Flanders | 288 m² | 1 · 92 m² | 9.8 m · 3 fl. |
| 11811L3672/00R003 | Flanders | 140 m² | 1 · 85 m² | 16.8 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.318.881.406
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Of 12,959 companies in sector 47120 we hold annual accounts for 2,190. 1,491 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-08-2020
Fiscal year end31-12
Activities, NACEBEL
47120Other non-specialised retail sale
47910Retail trade
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.