FREE STATE
The computed 12-month bankruptcy probability of FREE STATE is 1.0% (low). The 2024 annual accounts show equity of €5.28M and a net result of €-45k. Equity remains stable across the filed fiscal years (±0.5% per year). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €5.28M |
| Net result | €-45k |
| Active | 18 yrs |
| Board | 1 |
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →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).
Show 11 other metrics
| Fiscal year | 2024 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €-4k |
| Net profit | €-45k |
| Cash flow | €18k |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €5.60M |
| Equity | €5.28M |
| Debt | €313k |
| of which ≤ 1y | €51k |
| of which > 1y | €262k |
| Working capital | €2.01M |
| Employees (FTE) | 0.0 |
| 2024 | |
|---|---|
| Current ratio | 40.19 |
| Quick ratio | 40.19 |
| Working capital ratio | 35.9% |
| Solvency | 94.4% |
| Debt / equity | 0.06 |
| Long-term debt ratio | 0.05 |
| Interest coverage | -0.58 |
| Gross margin | - |
| Net margin | - |
| ROA | -0.8% |
| ROE | -0.9% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (22 line items)
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €5.60M |
| Fixed assets | 21/28 | €3.54M |
| Tangible fixed assets | 22/27 | €3.54M |
| Current assets | 29/58 | €2.06M |
| Amounts receivable within one year | 40/41 | €1.12M |
| Investments | 50/53 | €41 |
| Cash & bank | 54/58 | €132k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €5.60M |
| Equity | 10/15 | €5.28M |
| Contributions / capital | 10/11 | €20k |
| Reserves | 13 | €5.26M |
| Amounts payable | 17/49 | €313k |
| Amounts payable after one year | 17 | €262k |
| Amounts payable within one year | 42/48 | €51k |
| Trade debts payable within one year | 44 | €218 |
| Income statement | ||
| Gross operating margin | 9900 | €25k |
| Operating result | 9901 | €-67k |
| Financial income | 75 | €28k |
| Financial charges | 65 | €6k |
| Result before taxes | 9903 | €-45k |
| Net result for the period | 9904 | €-45k |
| Result to be appropriated | 9905 | €-45k |
-
David DebusseréDirectorState Gazette act 23454576 (12-12-2023)Current12-12-2023 → present
2 events
- 12-12-2023 Resigned· Director
- 12-12-2023 Appointed· Director
| NACE primary | - |
| Legal form | Private limited company(610) |
| Incorporation | 31-10-2007 |
| Status | Active |
| Postal code | 9000 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44806F0527/00M003 | Flanders | 92 m² | 1 · 89 m² | 15.0 m · 3 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
11-08-2026 Act object · Board meeting · Seat change · Filing representative
- Act object: ZETEL · FREE STATE
- Publication: 11/08/2026 · FREE STATE
- Filing: 07-08-2026 · FREE STATE
- Board meeting: 06/08/2026 · FREE STATE
- Seat change: to: Rozemarijnstraat 106, 9000 Gent, from: Rozemarijnstraat 104, 9000 Gent, effective_date: 2026-08-06 · FREE STATE
- Filing representative · Goedseels Miguel
Technical details
{
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"type": "act_object",
"quote": "Onderwerp akte : ZETEL",
"value": "ZETEL",
"object": null,
"subject": "e1"
},
{
"date": "2026-08-11",
"type": "publication",
"quote": "Bijlagen bij het Belgisch Staatsblad - 11/08/2026",
"value": "11/08/2026",
"object": null,
"subject": "e1"
},
{
"date": "2026-08-07",
"type": "filing",
"quote": "Neergelegd 07-08-2026",
"value": "07-08-2026",
"object": null,
"subject": "e1"
},
{
"date": "2026-08-06",
"type": "board_meeting",
"quote": "Vergadering van het bestuursorgaan van 6 augustus 2026",
"value": "06/08/2026",
"object": null,
"subject": "e1"
},
{
"date": "2026-08-06",
"type": "seat_change",
"quote": "De zetel van de onderneming wordt overgebracht met ingang van 6 augustus 2026 naar het volgende adres: Rozemarijnstraat 106, 9000 Gent.",
"value": {
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"from": "Rozemarijnstraat 104, 9000 Gent",
"effective_date": "2026-08-06"
},
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"_value_raw": {
"to": "Rozemarijnstraat 106, 9000 Gent",
"from": "Rozemarijnstraat 104, 9000 Gent",
"effective_date": "06/08/2026"
}
},
{
"type": "filing_representative",
"quote": "Ingediend door Goedseels Miguel, lasthebber.",
"value": null,
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"subject": "e2"
}
],
"act_meta": {
"outcome": "clean",
"model_id": 50,
"verified": true,
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"entities": [
{
"id": "e1",
"kbo": "0893.214.008",
"kind": "company",
"name": "FREE STATE",
"attrs": {
"seat": "Rozemarijnstraat 104, 9000 Gent",
"legal_form": "Besloten Vennootschap",
"short_name": null
}
},
{
"id": "e2",
"kbo": null,
"kind": "person",
"name": "Goedseels Miguel",
"attrs": {}
}
]
}12-12-2023 Articles of association amended
Technical details
{
"schema": "v3.2",
"act_meta": {
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"name_change": {
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"subject_company": {
"kbo": "0893.214.008",
"name_full": "FREE STATE"
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"legal_form_change": {
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"old": "Besloten vennootschap met beperkte aansprakelijkheid",
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}
}| Legal nameNL | FREE STATE |