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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Late annual account NBB
Fiscal year 2023 was filed 726 days after the legal deadline.
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Annual account missing NBB
Fiscal year 2024 was expected before 31 July 2025 and has not been filed.
Financials
Financial year 2023
Frictionless Trade Services from Oostende, company number BE0751890946, closed financial year 2023 with a result of € 28,309 after tax. For that financial year Frictionless Trade Services recorded revenue of € 2.6 million and equity of € 278,382. Compared with financial year 2022, the result moved from € 144,427 to € 28,309. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 27, 2026.
€ 278,382
▲ 11% vs 2022
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 28,309
▼ 80% vs 2022
Profit after tax over the fiscal year.
€ 577,384
▼ 2% vs 2022
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2023. Retained profit grew to € 277,382.
People and assets in 2023
6.3
▼ 3.2 vs 2022
Average over the fiscal year, from the social balance sheet.
€ 573,250
▼ 12% vs 2022
€ 91,000 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.
€ 3,739
▼ 18% vs 2022
Book value of vehicles, furniture and equipment.
Debts at end 2023
None
No bank loans on the last day of the fiscal year.
€ 245,503
▲ € 213,491 vs 2022
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 49 days on average.
€ 281,999
▼ 11% vs 2022
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | Change 2022 → 2023 | |
|---|---|---|---|---|
| Revenue | € 2,568,881 | € 3,231,174 | € 2,572,543 | ▼ 20% |
| Profit after taxes | € 104,646 | € 144,427 | € 28,309 | ▼ 80% |
| Equity | € 105,646 | € 250,072 | € 278,382 | ▲ 11% |
| Total debts | € 3,207,100 | € 4,818,484 | € 6,328,758 | ▲ 31% |
| Cash | € 563,984 | € 586,266 | € 577,384 | ▼ 2% |
| Retained profit | € 104,646 | € 249,072 | € 277,382 | ▲ 11% |
| Balance sheet total | € 3,313,096 | € 5,069,902 | € 6,608,245 | ▲ 30% |
| Employees (FTE) | 9.2 | 9.5 | 6.3 | ▼ 3.2 |
Key figures of Frictionless Trade Services, fiscal years 2021 to 2023, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2024 has not been filed yet; it was expected before 31 July 2025.
What happened to Frictionless Trade Services?
What happened at Frictionless Trade Services in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jack Baxter stepped down as director. NBB
- New annual accounts for financial year 2023: profit of € 28,309 (▼ 80% vs 2022). filed late Source: NBB ↗
- Jack Baxter became a director. NBB
- Daniel Cook stepped down as director. NBB
- George Wrench became a director. NBB
- New establishment in Oostende. KBO
- Daniel Cook became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 104,646 profit in 2021 to € 28,309 profit in 2023.
Paid € 139,017 in corporate taxes since 2021.
Best year ever: 2022, with € 144,427 profit.
Pays suppliers within 49 days on average.
Management
Behind Frictionless Trade Services is George Wrench.
Directors
According to the 2023 annual accounts
George Wrench
Director
since 2023
Jack Baxter
Director
since 2025 · until 2031
Daniel Cook
Director
since 2020 · until 2025
Establishments
Establishment units
Physical locations of this company
Ijslandstraat 8/010
8400 Oostende
Vergunningenstraat 15
8400 Oostende
Active since 7 August 2020
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0751.890.946
- VAT number
- BE 0751.890.946
- Registered office
- Ijslandstraat 8/010, 8400 Oostende
- Names & denominations
- Frictionless Trade Services
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 7 August 2020
- Peppol
- Active · Active since 14 Jan 2026
- Activities · NACE
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