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 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
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Tight liquidity NBB
Cash and receivables cover 2 % of short-term debt in 2024; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 9.6 to 5.5.
Financials
Financial year 2024
FRX Polymers (Europe) from Antwerpen, company number BE0840960108, closed financial year 2024 with a result of € -4 million after tax. For that financial year FRX Polymers (Europe) recorded a gross margin of € -1.1 million and equity of € -14.5 million. Compared with financial year 2023, the result moved from € -2.9 million to € -4 million. 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 October 31, 2025.
€ -14.5 million
▼ € 4 million vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -4 million
▼ 40 % more loss than in 2023
Profit after tax over the fiscal year.
€ 4,532
▼ 92% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -16.4 million.
People and assets in 2024
5.5
▼ 2.2 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 664,350
▼ 10% vs 2023
€ 120,800 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 2024
€ 17 million
▲ 4% vs 2023
Loans from banks and other lenders, long and short.
€ 1.9 million
▲ 20% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 40,296
▲ 41% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Gross margin | € 242,602 | € -182,239 | € -688,731 | € -1,053,544 | ▼ € 364,813 |
| Profit after taxes | € -2,696,221 | € -3,434,050 | € -2,873,151 | € -4,025,346 | ▼ € 1.2 million |
| Equity | € -4,151,620 | € -7,636,133 | € -10,509,284 | € -14,534,630 | ▼ € 4 million |
| Total debts | € 24,265,899 | € 26,902,582 | € 27,101,953 | € 29,797,739 | ▲ 10% |
| Cash | € 293,844 | € 39,749 | € 55,258 | € 4,532 | ▼ 92% |
| Land & buildings | € 9,352,315 | € 8,896,132 | € 8,439,948 | € 7,983,764 | ▼ 5% |
| Retained profit | € -6,079,921 | € -9,513,971 | € -12,387,122 | € -16,412,468 | ▼ € 4 million |
| Bank debt | € 17,721,888 | € 17,295,604 | € 16,344,465 | € 16,972,992 | ▲ 4% |
| Balance sheet total | € 20,114,279 | € 19,266,449 | € 16,592,669 | € 15,263,108 | ▼ 8% |
| Employees (FTE) | 9.9 | 9.6 | 7.7 | 5.5 | ▼ 2.2 |
Key figures of FRX Polymers (Europe), fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to FRX Polymers (Europe)?
What happened at FRX Polymers (Europe) in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 4 million. filed late Source: NBB ↗
- Patrick Muezers became a director. NBB
- Bartosz Kurkowski became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 2.7 million loss in 2021 to € 4 million loss in 2024.
Paid € 1,040 in corporate taxes since 2021.
On average € 24,500 of value added per employee in 2021.
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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
Behind FRX Polymers (Europe) are Patrick Muezers and Bartosz Kurkowski. It owns 100% of FRX Polymers Shanghai itself.
Directors
According to the 2024 annual accounts
Patrick Muezers
Director
since 2025
Bartosz Kurkowski
Director
since 2025
Establishments
Establishment units
Physical locations of this company
Scheldelaan 420
2040 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0840.960.108
- VAT number
- BE 0840.960.108
- Registered office
- Scheldelaan 420, 2040 Antwerpen
- Names & denominations
- FRX Polymers (Europe)
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 3 November 2011
- Peppol
- Active · Active since 31 Dec 2025
- Activities · NACE
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