ACTIVE

FRE-MAX

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Financial year 2025 · closed on 31/12/2025

Net result

1,5 k €

+137.4% YoY

Gross margin

140 k €

-0.2% YoY

Equity

1,2 M €

+0.1% YoY

What does FRE-MAX do?

FRE-MAX is a Private limited company incorporated in 2011. Its registered office is in Wortegem-Petegem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0839.800.363

Incorporation

30/09/2011

Legal form

Private limited company

Registered office

Gaverstraat (W.) 6
9790 Wortegem-Petegem · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	140 k €	-0.2%	140,2 k €	+0.8%	139,1 k €	+22.5%	113,6 k €	+33.4%	85,2 k €	-94.2%	1,5 M €	+102%	725,5 k €	+41.4%	513,2 k €	+27.9%	401,2 k €	+238%	118,7 k €	+154%	46,8 k €	-17.0%	56,3 k €	+298%	14,1 k €	+561%	2,1 k €
EBITDA	125,6 k €	+5.7%	118,9 k €	-1.9%	121,2 k €	+17.9%	102,8 k €	+88.6%	54,5 k €	-93.7%	859,5 k €	+150%	344,1 k €	+36.5%	252,1 k €	+6.2%	237,5 k €	+130%	103,3 k €	+148%	41,6 k €	-23.8%	54,6 k €	+339%	12,4 k €	+1779%	662,5 €
Operating result	18,3 k €	+63.2%	11,2 k €	+3.5%	10,8 k €	+168%	-16 k €	+76.3%	-67,5 k €	-109%	748,7 k €	+163%	284,7 k €	+40.2%	203,1 k €	+2.4%	198,3 k €	+277%	52,5 k €	+875%	5,4 k €	-70.7%	18,4 k €	+132%	-57,9 k €	+46.8%	-108,8 k €
Net result	1,5 k €	+137%	-4 k €	+69.6%	-13,3 k €	+25.9%	-17,9 k €	+74.2%	-69,5 k €	-113%	517,5 k €	+163%	196,9 k €	+45.8%	135 k €	-12.4%	154,1 k €	+193%	52,6 k €	+871%	5,4 k €	-98.7%	407,5 k €	+812%	-57,3 k €	+47.3%	-108,7 k €
Balance sheet
Equity	1,2 M €	+0.1%	1,2 M €	-0.3%	1,2 M €	-1.1%	1,2 M €	-1.4%	1,3 M €	-5.3%	1,3 M €	+64.4%	804,1 k €	+32.4%	607,2 k €	+28.6%	472,2 k €	+48.4%	318,1 k €	+19.8%	265,5 k €	+2.1%	260,1 k €	+277%	-147,4 k €	-63.5%	-90,1 k €
Total assets	1,2 M €	-7.5%	1,3 M €	-7.3%	1,4 M €	-7.6%	1,5 M €	-22.6%	2 M €	-34.3%	3 M €	+14.0%	2,7 M €	+13.3%	2,3 M €	+3.9%	2,3 M €	+12.7%	2 M €	+3.1%	1,9 M €	+0.2%	1,9 M €	-0.9%	2 M €	+208%	635,1 k €
Cash	109,4 k €	+8.8%	100,6 k €	+4.6%	96,2 k €	-2.5%	98,7 k €	-75.0%	394,6 k €	-59.8%	980,7 k €	+105%	479,2 k €	-2.8%	493 k €	+33.8%	368,4 k €	+803%	40,8 k €	-63.0%	110,2 k €	+58.0%	69,7 k €	+37.0%	50,9 k €	+145%	20,7 k €
Debts	107,6 €	-99.9%	100 k €	-50.0%	200 k €	-34.0%	303 k €	-58.8%	735,1 k €	-56.8%	1,7 M €	-7.8%	1,8 M €	+6.5%	1,7 M €	-2.6%	1,8 M €	+5.9%	1,7 M €	+0.4%	1,7 M €	-0.1%	1,7 M €	-20.2%	2,1 M €	+190%	725,2 k €
Other
Workforce	–		–		–		–		–		9,7 ETP	+15.5%	8,4 ETP		–		–		0,5 ETP		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Dirk Nolf

Director

Active

Kürt Vandenbroeke

Director

Active

Ended mandates

DIRK NOLF

Manager · since 20 septembre 2011

Ended

KURT VANDENBROEKE

Manager · since 20 septembre 2011

Ended

DIRK NOLF

Manager

Ended

KURT VANDENBROEKE

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
F.V. NOLF WILLY, DIRK, CONNY EN MAXIM● Active	0886.683.235
JUCO● Active	0462.745.923

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/09/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	16 months
Filing date	22/07/2026	02/07/2025	02/07/2024	29/06/2023	25/08/2022	29/06/2021
General meeting	27/06/2026	28/06/2025	29/06/2024	24/06/2023	25/06/2022	26/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	27/06/2026	22/07/2026	Dutch	PDF
Micro model	31/12/2024	28/06/2025	02/07/2025	Dutch	PDF
Micro model	31/12/2023	29/06/2024	02/07/2024	Dutch	PDF
Abridged model	31/12/2022	24/06/2023	29/06/2023	Dutch	PDF
Abridged model	31/12/2021	25/06/2022	25/08/2022	Dutch	PDF
Abridged model	31/12/2020	26/06/2021	29/06/2021	Dutch	PDF
Abridged model	31/08/2019	24/02/2020	11/03/2020	Dutch	PDF
Micro model	31/08/2018	25/02/2019	22/03/2019	Dutch	PDF
Micro model	31/08/2017	26/02/2018	02/03/2018	Dutch	PDF
Abridged model	31/08/2016	27/02/2017	27/02/2017	Dutch	PDF
Abridged model	31/08/2015	29/02/2016	29/02/2016	Dutch	PDF
Abridged model	31/08/2014	23/02/2015	26/02/2015	Dutch	PDF
Abridged model	31/08/2013	24/02/2014	31/03/2014	Dutch	PDF
Abridged model	31/08/2012	25/02/2013	02/04/2013	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Dirk Nolf

Director

Active

Kürt Vandenbroeke

Director

Active

Ended mandates

DIRK NOLF

Manager · since 20 septembre 2011

Ended

KURT VANDENBROEKE

Manager · since 20 septembre 2011

Ended

DIRK NOLF

Manager

Ended

KURT VANDENBROEKE

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring06/08/2020
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring10/06/2020
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other04/10/2011
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20251,5 k €↑
2024
Annual accounts 2024-4 k €↑
2023
Annual accounts 2023-13,3 k €↑
2022
Annual accounts 2022-17,9 k €↑
2021
Annual accounts 2021-69,5 k €↓
2020
Annual accounts 2020517,5 k €↑
2019
Annual accounts 2019196,9 k €↑
2018
Annual accounts 2018135 k €↓
2017
Annual accounts 2017154,1 k €↑
2016
Annual accounts 201652,6 k €↑
2015
Annual accounts 20155,4 k €↓
2014
Annual accounts 2014407,5 k €↑
2013
Annual accounts 2013-57,3 k €↑
2012
Annual accounts 2012-108,7 k €
30/09/2011
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

FRE-MAX

Overview

What does FRE-MAX do?

Trend over 14 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline