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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Tight liquidity NBB
Cash and receivables cover 40 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
FRO from Jabbeke, company number BE0874186269, closed financial year 2025 with a result of € 14 million after tax. For that financial year FRO recorded revenue of € 6.3 million and equity of € 22 million. Compared with financial year 2024, the result moved from € 9.8 million to € 14 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 2, 2026.
€ 22 million
▲ 35% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 14 million
▲ 43% vs 2024
Profit after tax over the fiscal year.
€ 4.3 million
▲ € 4 million vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 8.3 million paid out
60 % of the profit went to the shareholders, mostly to DE ACTO (99 % of the shares). That is where the money ends up.
Debts at end 2025
€ 3 million
Loans from banks and other lenders, long and short.
€ 165,670
▼ 88% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 15 days on average.
€ 357,198
▲ 63% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 4,400,000 | € 5,075,000 | € 5,618,600 | € 6,322,437 | ▲ 13% |
| Profit after taxes | € 10,740,396 | € 5,928,375 | € 9,766,450 | € 13,965,617 | ▲ 43% |
| Equity | € 14,667,525 | € 15,095,395 | € 16,331,037 | € 21,975,947 | ▲ 35% |
| Total debts | € 29,605,077 | € 26,217,462 | € 28,256,527 | € 26,541,783 | ▼ 6% |
| Cash | € 175,741 | € 160,580 | € 302,470 | € 4,279,952 | ▲ € 4 million |
| Retained profit | € 14,536,937 | € 14,964,806 | € 16,200,449 | € 21,845,359 | ▲ 35% |
| Dividend | € 5,050,505 | € 5,500,505 | € 8,530,808 | € 8,320,707 | ▼ 2% |
| Bank debt | € 12,000,000 | € 5,000,000 | € 3,000,000 | € 3,000,000 | |
| Balance sheet total | € 44,272,602 | € 41,312,857 | € 44,587,564 | € 48,517,730 | ▲ 9% |
Key figures of FRO, 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 FRO?
What happened at FRO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 14 million (▲ 43% vs 2024). Source: NBB ↗
- DE ACTO BV stepped down as director. NBB
- FALCON FUND MANAGEMENT NV stepped down as director. NBB
- Ellen VAN CAUWENBERGE stepped down as director. NBB
- ACTIMO CONSULTING BV stepped down as director. NBB
- PCES VOF stepped down as director. NBB
- New establishment in Poperinge. KBO
- Ellen VAN CAUWENBERGE became a director. NBB
In short
From € 10.7 million profit in 2022 to € 14 million profit in 2025.
Paid € 649,467 in corporate taxes since 2022.
Best year ever: 2025, with € 14 million profit.
Paid out € 27.4 million in dividends to the owners in total.
Management
The stake of DE ACTO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
FROThe shares are held by DE ACTO (99%). It owns 100% of Tilcon, 100% of Lengkeek Staalbouw, 100% of Actum Building Service, 100% of Actum Services France, 100% of Actum Services and 100% of Magrometal itself.
Directors
According to the 2025 annual accounts
Director · represented by Koen PERDU
since 2021 · until 2026
Director · represented by Thomas DE DUYTSCHE
Also active at: J.L. Hertsens, PAUWELS, Day By Day Courier Service, ON TIME SOLUTIONS, Pauwels Construct, JACRIMAR, M.Ex.T. BELGIUM, G & G CONSTRUCT +31 more
since 2021 · until 2026
Ellen VAN CAUWENBERGE
Director
Also active at: JACRIMAR, EVERY TIME, FALCON FUND, TRISLOT HOLDING, FALCON FUND MANAGEMENT, BFF GLASS, ON TIME LOGISTICS, MDR IMMO +8 more
since 2024 · until 2026
Director · represented by Christophe CATTEAU
Also active at: INDINOX, ATEC, VIND, Magrometal, ACTUM SERVICES, GIECINVEST, TECHNISCHE INSTALLATIE-, LAS- EN CONSTRUCTIEWERKEN, DE ACTO INVEST +14 more
since 2021 · until 2026
since 2021 · until 2026
Shareholders
99%
Participations
100%
Lengkeek Staalbouw
100%
Actum Services France
100%
100%
100%
90%
89.6%
80%
48%
Establishments
Establishment units
Physical locations of this company
Gistelsteenweg 321 box B
8490 Jabbeke
Vlaanderenlaan 33
8970 Poperinge
Active since 2 March 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →AUGIAS same network
€ 1.5 million gross margin · 2025
JN FENCE
Falcon Fund VI
FALCON FUND MANAGEMENT same network
€ 267,611 gross margin · 2025
Mapa Holding same network
€ 11,449 gross margin · 2025
+3 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0874.186.269
- VAT number
- BE 0874.186.269
- Registered office
- Gistelsteenweg 321 bus B, 8490 Jabbeke
- Names & denominations
- FRO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 June 2005
- Peppol
- Active · Active since 24 Oct 2025
- Activities · NACE
Activiteiten van hoofdkantoren
Activiteiten van holdings
Holdings