FREESPACE
ActiveSummary
FREESPACE has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €9.10M and a net result of €-11k. Equity remains stable across the filed fiscal years (±0.1% per year). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
62
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability37=
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €550k at 30 days acceptable
Liquidity ample (current ratio 2.38 against 3.95 in 2023; short-term debt: 0.1% and cash: 0.2% of total assets), and 0.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
26 d late
2022
23 d late
2021
26 d late
2020
30 d late
2019
87 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€9.10M▼ 0.1%
2023 · €9.11M
2018: €9.11M
2019: €9.14M
2020: €10.45M
2021: €6.87M
2022: €9.12M
2023: €9.11M
2018 → 2024
Total assets
€9.10M▼ 0.1%
2023 · €9.11M
2018: €9.11M
2019: €9.53M
2020: €10.47M
2021: €9.12M
2022: €9.13M
2023: €9.11M
2018 → 2024
Net result
€-11k▲ 28.9%
2023 · €-15k
2018: €8.64M
2019: €408k
2020: €13.55M
2021: €5.32M
2022: €3.35M
2023: €-15k
2018 → 2024
Working capital
€10k▼ 53.2%
2023 · €21k
2018: €-5k
2019: €23k
2020: €1.36M
2021: €-2.22M
2022: €36k
2023: €21k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€10.45M-€6.87M▼ 34.3%€9.12M▲ 32.8%€9.11M▼ 0.2%€9.10M▼ 0.1%
Operating result€-15k-€-13k▲ 12.4%€-13k▲ 1.1%€-15k▼ 11.7%€-11k▲ 27.2%
Net result€13.55M-€5.32M▼ 60.7%€3.35M▼ 37.0%€-15k€-11k▲ 28.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11k in 2024 against €15k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €9.10M
Fixed assets
€9.09M =
Current assets
€17k ▼ 39.7%
Equity and liabilities €9.10M
Equity
€9.10M ▼ 0.1%
Debt
€7k ▼ 5.8%
Debt's share of the balance-sheet total stays at 0.1%.
Key figures and ratios
Current ratio
2.38▼
2023 · 3.95
Debt to equity
0.00▼
2023 · 0.00
ROE
-0.1%▲
2023 · -0.2%
ROA
-0.1%▲
2023 · -0.2%
Debt ≤ 1 year
€7k=
2023 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 38 lines
Balance sheet
Code20232024
Assets
Total assets20/58€9.11M€9.10M▼
Fixed assets21/28€9.09M€9.09M=
Financial fixed assets28€9.09M€9.09M=
Current assets29/58€29k€17k▼
Amounts receivable within one year40/41-€66
Other amounts receivable41-€66
Cash at bank and in hand54/58€29k€17k▼
Equity and liabilities
Total equity and liabilities10/49€9.11M€9.10M▼
Equity10/15€9.11M€9.10M▼
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Reserves13€9.01M€9.00M▼
Non-distributable reserves130/1€813k€813k=
Legal reserve130€813k€813k=
Distributable reserves133€8.19M€8.18M▼
Profit (loss) carried forward14€0-
Amounts payable17/49€8k€7k▼
Amounts payable within one year42/48€7k€7k=
Trade debts44€7k€7k=
Suppliers440/4€7k€7k=
Accrued charges and deferred income492/3€446€0▼
Income statement
Code20232024
Other operating charges640/8€1k€1k▲
Gross operating margin9900€-13k€-9k▲
Operating profit (loss)9901€-15k€-11k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€852€359▼
Recurring financial charges65€852€359▼
Profit (loss) for the period before taxes9903€-15k€-11k▲
Profit (loss) for the period9904€-15k€-11k▲
Profit (loss) for the period to be appropriated9905€-15k€-11k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-15k€-11k▲
Transfer from equity791/2€15k€11k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 26 days late
2023
31-12
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 23 days late
2022
31-12
Financial
Liquidity times 361current ratio 6.01
Current ratio from 0.02 to 6.01; short-term debt falls from €2.25M to €7k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €13.55M ▲3,219%
Net result €13.55M, the highest in the series.
31-12
Financial
Liquidity times 47current ratio 49.68
Current ratio from 1.06 to 49.68; short-term debt falls from €392k to €28k.
31-12
Financial
Equity above €10MEq €10.45M ▲14.4%
3 profitable years in a row build equity to €10.45M.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 87 days late
2019
31-12
Financial
Liquidity quadruplescurrent ratio 1.06
Current ratio from 0.27 to 1.06.
Show earlier events
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Gent · 1 establishment unit since 2012
Ground area
3,879 m²
Building footprint
1,129 m²
Volume, LiDAR
20,388 m³
Parcel 44032A0472/00N003, Flanders · tallest building 49.1 m, ±2 floors. Linked by address, not a title deed.
28
companies at this address
See who is registered here
1 establishment unit
Freespace
since 20122.214.905.225
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44032A0472/00N003 | Flanders | 3,879 m² | 1 · 1,129 m² | 49.1 m · 2 fl. |
Linked by address, not proof of ownership
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.
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-12-2012
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.