FRESH EXPRESS BELGIUM
FRESH EXPRESS BELGIUM has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €178k and a net result of €1.23M. Equity is shrinking by ~24.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 20% of 644 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
| Equity | €178k |
| Net result | €1.23M |
| Staff (FTE) | 18.9 |
| Better than sector | 20% |
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 12.0% | 36.9% | |
| Net result | €1.55M | €97k | |
| Equity | €408k | €1.49M | |
| Gross operating margin | €3.57M | €606k | |
| Staff costs | €1.45M | €1.15M |
Figures by fiscal year and ratios
| Fiscal year | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | €1.83M | €2.09M | €1.45M | €1.23M | €519k |
| Net profit | €1.23M | €1.55M | €1.02M | €931k | €386k |
| Cash flow | €1.53M | €1.68M | €1.14M | €1.01M | €404k |
| Staff costs | €1.33M | €1.45M | €1.48M | €1.18M | €764k |
| Income taxes | €287k | €409k | €321k | €254k | €124k |
| Dividends | €1.10M | €1.53M | €600k | €1.35M | - |
| Total assets | €4.36M | €3.39M | €3.05M | €2.62M | €2.00M |
| Equity | €178k | €408k | €892k | €677k | €1.38M |
| Debt | €4.18M | €2.98M | €2.16M | €1.94M | €611k |
| of which ≤ 1y | €3.15M | €2.49M | €2.03M | €1.84M | €432k |
| of which > 1y | €850k | €73k | €130k | €96k | €131k |
| Working capital | €-571k | €475k | €550k | €439k | €1.16M |
| Employees (FTE) | 18.9 | 20.3 | 21.7 | 17.7 | 12.0 |
| 2026 | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| Current ratio | 0.82 | 1.19 | 1.27 | 1.24 | 3.68 |
| Quick ratio | 0.82 | 1.19 | 1.27 | 1.24 | 3.68 |
| Working capital ratio | -13.1% | 14.0% | 18.0% | 16.8% | 58.1% |
| Solvency | 4.1% | 12.0% | 29.2% | 25.9% | 69.4% |
| Debt / equity | 23.46 | 7.31 | 2.42 | 2.87 | 0.44 |
| Long-term debt ratio | 4.77 | 0.18 | 0.15 | 0.14 | 0.09 |
| Interest coverage | 50.95 | 54.40 | 46.34 | 39.48 | 13.35 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 28.4% | 45.6% | 33.2% | 35.6% | 19.4% |
| ROE | 693.6% | 379.2% | 113.8% | 137.5% | 27.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (26 line items)
| Line item | Code | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €4.36M | €3.39M | €3.05M | €2.62M | €2.00M |
| Fixed assets | 21/28 | €1.78M | €428k | €475k | €336k | €405k |
| Intangible fixed assets | 21 | €16k | €26k | - | - | - |
| Tangible fixed assets | 22/27 | €1.58M | €249k | €342k | €220k | €275k |
| Financial fixed assets | 28 | €176k | €154k | €132k | €116k | €130k |
| Current assets | 29/58 | €2.58M | €2.96M | €2.58M | €2.28M | €1.59M |
| Amounts receivable within one year | 40/41 | €2.24M | €2.47M | €2.17M | €1.95M | €1.09M |
| Cash & bank | 54/58 | €213k | €403k | €380k | €314k | €495k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €4.36M | €3.39M | €3.05M | €2.62M | €2.00M |
| Equity | 10/15 | €178k | €408k | €892k | €677k | €1.38M |
| Contributions / capital | 10/11 | €22k | €22k | €22k | €20k | €20k |
| Reserves | 13 | €86k | €86k | €86k | €4k | €4k |
| Accumulated profits (losses) | 14 | €70k | €300k | €784k | €653k | €1.36M |
| Provisions & deferred taxes | 16 | - | - | - | - | €0 |
| Amounts payable | 17/49 | €4.18M | €2.98M | €2.16M | €1.94M | €611k |
| Amounts payable after one year | 17 | €850k | €73k | €130k | €96k | €131k |
| Amounts payable within one year | 42/48 | €3.15M | €2.49M | €2.03M | €1.84M | €432k |
| Trade debts payable within one year | 44 | €1.08M | €1.04M | €914k | €814k | €173k |
| Income statement | ||||||
| Gross operating margin | 9900 | €3.18M | €3.57M | €2.96M | €2.44M | €1.28M |
| Operating result | 9901 | €1.53M | €1.95M | €1.33M | €1.16M | €502k |
| Financial income | 75 | €28k | €42k | €39k | €60k | €47k |
| Financial charges | 65 | €36k | €38k | €31k | €31k | €39k |
| Result before taxes | 9903 | €1.52M | €1.96M | €1.34M | €1.18M | €510k |
| Income taxes | 67/77 | €287k | €409k | €321k | €254k | €124k |
| Net result for the period | 9904 | €1.23M | €1.55M | €1.02M | €931k | €386k |
| Result to be appropriated | 9905 | €1.23M | €1.55M | €931k | €931k | €386k |
-
JB Holding & ManagementLegal entityDirectorState Gazette act 22037266 (18-03-2022)Current26-01-2022 → present
Former directors (1)
-
Bouchat JonathanDirectorState Gazette act 22037266 (18-03-2022)Former- → 26-01-2022
| NACE primary | Logistics services(52250) |
| Legal form | Private limited company(610) |
| Incorporation | 28-04-1999 |
| Status | Active |
| Postal code | 4460 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23047C0441/00A000 | Flanders | 5.7 ha | 1 · 3.7 ha | - |
| 62016B0333/00A000 | Wallonia | 3.0 ha | 1 · 6,299 m² | 16.4 m · 5 fl. |
| 35385B0163/00P000 | Flanders | 1,401 m² | - | - |
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
26-03-2025 Registered office moved within GRACE-HOLLOGNE
- Rue Saint-Exupéry 22 à 4460 GRACE-HOLLOGNE → Rue Saint-Exupéry B9/8 à 4460 GRACE-HOLLOGNE
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "Rue Saint-Exup\u00E9ry B9/8 \u00E0 4460 GRACE-HOLLOGNE",
"city": "GRACE-HOLLOGNE",
"region": "waals_gewest",
"street": "Saint-Exup\u00E9ry",
"country": "BE",
"postcode": "4460",
"box_number": "B9/8",
"street_number": null,
"locality_suffix": "(H-G)"
},
"old_address": {
"raw": "Rue Saint-Exup\u00E9ry 22 \u00E0 4460 GRACE-HOLLOGNE",
"city": "GRACE-HOLLOGNE",
"region": "waals_gewest",
"street": "Saint-Exup\u00E9ry",
"country": "BE",
"postcode": "4460",
"box_number": null,
"street_number": "22",
"locality_suffix": "(H-G)"
},
"effective_date": "2025-04-01",
"evidence_quote": "La pr\u00E9sente assembl\u00E9e avalise le changement de si\u00E8ge social actuellement sis \u00E0 Rue Saint-Exup\u00E9ry 22 \u00E0 4460 GRACE-HOLLOGNE vers Rue Saint-Exup\u00E9ry B9/8 \u00E0 4460 GRACE-HOLLOGNE \u00E0 partir du 1er avril 2025.",
"region_changed": false,
"is_statute_change": true,
"nationality_change": false,
"old_address_source": "act_body",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "absolute",
"statutaire_vs_werkelijke": "statutaire",
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
"name": null,
"firm_city": null,
"firm_name": null,
"office_city": "LIEGE",
"is_associated": false
},
"act_meta": {
"language": "mixed",
"pub_date": "2025-03-26",
"filing_date": "2025-03-12",
"act_kind_objet": "Objet de l\u0027acte:"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"date": "2025-03-07",
"unanimous": null
},
"subject_company": {
"kbo": "0465.891.790",
"name_full": "Fresh Express Liege",
"legal_form": "SRL"
},
"publication_proxy": {
"kind": "person",
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"person_name": "Bouchat Jonathan",
"org_rep_person_name": null,
"person_role_at_subject": "Administrateur"
},
"co_filed_documents": [
"PV d\u00E9pos\u00E9 en annexe de la pr\u00E9sente publication."
]
}18-03-2022 1 director appointed, 1 resigning
- JB Holding & Management, Bestuurder
- Bouchat Jonathan, Bestuurder
Technical details
{
"events": [
{
"kind": "director_out",
"role": "administrateur",
"person": {
"rrn": null,
"name": "Bouchat Jonathan",
"address": null,
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},
"reason": "de_plein_droit_dissolution",
"subkind": null,
"via_org": null,
"statutory": null,
"compensated": null,
"effective_date": "2022-01-26",
"evidence_quote": "La pr\u00E9sente Assembl\u00E9e accepte la d\u00E9mission de Monsieur Bouchat Jonathan \u00E0 la date du 26/01/2022. D\u00E9charge lui est accord\u00E9e pour l\u0027exercice de son mandat.",
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{
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},
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"compensated": true,
"effective_date": "2022-01-26",
"evidence_quote": "La pr\u00E9sente Assembl\u00E9e nomme au poste d\u0027administrateur la soci\u00E9t\u00E9 \u00E0 responsabilit\u00E9 limit\u00E9e JB Holding \u0026 Management, valablement repr\u00E9sent\u00E9e par Monsieur Bouchat Jonathan qui est d\u00E9sign\u00E9 par cette derni\u00E8re comme repr\u00E9sentant permanent.",
"decharge_status": null,
"mandate_duration": {
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},
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"effective_date_qualifier": "retroactive"
}
],
"notary": {
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"firm_name": null,
"office_city": "TREPRISE DE LIEGE",
"is_associated": false
},
"act_meta": {
"language": "mixed",
"pub_date": "2022-03-18",
"filing_date": "2022-03-09",
"act_kind_objet": "Objet de l\u0027acte:"
},
"decisions": [
{
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}| Legal nameNL | FRESH EXPRESS BELGIUM |