Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 28 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 8.7 to 6.3.
Financials
Financial year 2025
Freco Retail from Waregem, company number BE0677565883, closed financial year 2025 with a result of € -295,386 after tax. For that financial year Freco Retail recorded a gross margin of € 64,293 and equity of € -224,867. Compared with financial year 2024, the result moved from € -358,875 to € -295,386. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 25, 2026.
€ -224,867
▼ € 295,386 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -295,386
▲ 18 % less loss than in 2024
Profit after tax over the fiscal year.
€ 150,679
▲ 16% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -593,467.
People and assets in 2025
6.3
▼ 1.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 222,298
▼ 24% vs 2024
€ 35,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 205,393
▼ 16% vs 2024
€ 19,427 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 846,961
▲ 37% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 29,356
▼ 9% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 132,707 | € 443,784 | € 68,727 | € 64,293 | ▼ 6% |
| Profit after taxes | € 25,825 | € 32,940 | € -358,875 | € -295,386 | ▲ € 63,489 |
| Equity | € 40,254 | € 429,394 | € 70,519 | € -224,867 | ▼ € 295,386 |
| Total debts | € 857,895 | € 808,927 | € 1,063,365 | € 1,267,997 | ▲ 19% |
| Cash | € 20,121 | € 146,017 | € 129,861 | € 150,679 | ▲ 16% |
| Retained profit | € 27,854 | € 60,794 | € -298,081 | € -593,467 | ▼ € 295,386 |
| Dividend | € 60,000 | € 0 | € 0 | € 0 | |
| Bank debt | € 12,234 | € 292,682 | € 244,104 | € 205,393 | ▼ 16% |
| Balance sheet total | € 898,149 | € 1,238,320 | € 1,133,884 | € 1,043,130 | ▼ 8% |
| Employees (FTE) | 2.9 | 8.7 | 8.1 | 6.3 | ▼ 1.8 |
Key figures of Freco Retail, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Freco Retail?
What happened at Freco Retail in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 295,386. Source: NBB ↗
- Phin-Holding BV became a director. NBB
- New establishment in Waregem. KBO
- Start of the company according to the CBE. KBO
In short
From € 25,825 profit in 2022 to € 295,386 loss in 2025.
Paid € 17,981 in corporate taxes since 2022.
Best year ever: 2023, with € 32,940 profit.
On average € 10,200 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Phin-Holding comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Freco RetailBehind Freco Retail is Phin-Holding BV. The shares are held by Phin-Holding (100%).
Directors
According to the 2025 annual accounts
Director · represented by Inge Craeyeveld
Also active at: PHIN-MARKET, PHIN-FOOD, PHIN-MEAT, Phin-Carne, Freco Meat
since 2023
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Gentseweg 134
8792 Waregem
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0677.565.883
- VAT number
- BE 0677.565.883
- Registered office
- Gentseweg 134, 8792 Waregem
- Names & denominations
- Freco Retail
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 26 June 2017
- Peppol
- Active · Active since 19 Dec 2025
- Activities · NACE
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