B.C.
ActiveFinancials · financial year 2026, full format
Annual accounts 2026 filed on 29-09-2026 at the NBB all 21 filings
Turnover
€31.0m▼ 1.8%
2025 · €31.6m
EBIT margin
-0.2%▼ 0.5pp
2025 · 0.3%
Net result
-€79,689
2025 · €49,442
Working capital
€1.3m▼ 6.7%
2025 · €1.4m
In the rankings
#2 employer in Ronse, Wholesale and retail trade sector
Multi-year overview
2019 to 2026, 8 financial yearsTurnover
€31.0m
▼ 1.8%
2026
20192026
Operating result
-€64,730
2026
20192026
Net result
-€79,689
2026
20192026
EBIT margin
-0.2%
▼ 0.5pp
2026
20192026
Equity
€1.3m
▼ 5.9%
2026
20192026
Total assets
€5.1m
▼ 43.2%
2026
20192026
Debt
€3.9m
▼ 49.8%
2026
20192026
Working capital
€1.3m
▼ 6.7%
2026
20192026
Solvency
24.8%
▲ 9.8pp
2026
20192026
Current ratio
1.34
▲ 0.16
2026
20192026
Return on assets (ROA)
-1.6%
▼ 2.1pp
2026
20192026
Staff (FTE)
70.8
▲ 13.3%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Turnover€26.0m-€29.5m▲ 13.4%€31.6m▲ 7.2%€27.5m▼ 13.0%€25.2m▼ 8.2%€31.5m▲ 24.9%€31.6m▲ 0.2%€31.0m▼ 1.8%
Operating result€0.08m-€0.09m▲ 18.3%€0.9m▲ 910%€0.3m▼ 69.5%€0.09m▼ 68.3%€0.2m▲ 101%€0.09m▼ 51.3%-€0.06m
Net result€0.04m-€0.06m▲ 33.4%€0.7mabove the sector's middle half▲ 12×€0.2mabove the sector's middle half▼ 71.3%€0.05mwithin the sector's middle half▼ 72.3%€0.1mwithin the sector's middle half▲ 122%€0.05mwithin the sector's middle half▼ 58.2%-€0.08m
EBIT margin0.3%-0.3%=2.9%▲ 2.6pp1.0%▼ 1.9pp0.4%▼ 0.7pp0.6%▲ 0.2pp0.3%▼ 0.3pp-0.2%▼ 0.5pp
Equity€3.7m-€3.8m▲ 1.5%€4.4mabove the sector's middle half▲ 17.8%€4.6mabove the sector's middle half▲ 4.3%€4.7mabove the sector's middle half▲ 1.2%€4.8mabove the sector's middle half▲ 2.5%€1.4mwithin the sector's middle half▼ 71.9%€1.3m▼ 5.9%
Total assets€4.6m-€6.1m▲ 32.5%€5.6mabove the sector's middle half▼ 8.4%€5.5mabove the sector's middle half▼ 0.8%€7.2mabove the sector's middle half▲ 29.6%€8.8mabove the sector's middle half▲ 22.6%€9.0mabove the sector's middle half▲ 2.8%€5.1m▼ 43.2%
Debt€0.9m-€2.3m▲ 163%€1.1m▼ 50.9%€0.9m▼ 20.9%€2.5m▲ 176%€4.0m▲ 60.4%€7.7m▲ 92.8%€3.9m▼ 49.8%
Working capital€3.7m-€3.8m▲ 1.4%€4.5mabove the sector's middle half▲ 18.4%€4.7mabove the sector's middle half▲ 4.2%€4.7mabove the sector's middle half▲ 0.7%€4.8mabove the sector's middle half▲ 2.8%€1.4mabove the sector's middle half▼ 71.2%€1.3m▼ 6.7%
Solvency80.8%-61.9%▼ 18.9pp79.6%above the sector's middle half▲ 17.7pp83.7%above the sector's middle half▲ 4.1pp65.3%above the sector's middle half▼ 18.4pp54.7%within the sector's middle half▼ 10.7pp15.0%within the sector's middle half▼ 39.7pp24.8%▲ 9.8pp
Current ratio5.44-2.66▼ 2.795.14above the sector's middle half▲ 2.486.49above the sector's middle half▲ 1.352.92above the sector's middle half▼ 3.572.23within the sector's middle half▼ 0.691.18within the sector's middle half▼ 1.051.34▲ 0.16
Return on assets (ROA)0.9%-0.9%=12.0%above the sector's middle half▲ 11.1pp3.5%within the sector's middle half▼ 8.6pp0.7%within the sector's middle half▼ 2.7pp1.3%within the sector's middle half▲ 0.6pp0.5%within the sector's middle half▼ 0.8pp-1.6%▼ 2.1pp
Staff (FTE)52.3-54.5▲ 4.2%61.4above the sector's middle half▲ 12.7%62.9above the sector's middle half▲ 2.4%61.4above the sector's middle half▼ 2.4%63.6above the sector's middle half▲ 3.6%62.5above the sector's middle half▼ 1.7%70.8▲ 13.3%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €64,730, after a profit of €87,303 in 2025. It is the lowest result since 2022.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €5.1m
Fixed assets
€2,734 =
Current assets
€5.1m ▼ 43.2%
Equity and liabilities €5.1m
Equity
€1.3m ▼ 5.9%
Debt
€3.9m ▼ 49.8%
Debt's share of the balance-sheet total falls from 85.0% to 75.2%. Equity and debt are lower.
Key figures and ratios
Debt to equity
3.03▼
2025 · 5.68
ROE
-6.3%▼
2025 · 3.7%
Debt ≤ 1 year
€3.8m▼
2025 · €7.6m
Income taxes
€3,105▼
2025 · €26,390
Customer credit
7 days▼
2025 · 7 days
Supplier credit
47 days▼
2025 · 48 days
Staff costs
€3.3m▲
2025 · €2.8m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 60 | 61 | 61 | 69 | 67 |
| full-time | 57 | 58 | 58 | 66 | 66 |
| part-time | 3 | 3 | 3 | 3 | 1 |
| in full-time equivalents | 58.9 | 59.9 | 59.9 | 68.2 | 66.6 |
| Average over the year, in full-time equivalents | 62.9 | 61.4 | 63.6 | 62.6 | 70.8 |
| On a permanent contract | 60 | 59 | 60 | 64 | 64 |
| Joined | 10 | 10 | 11 | 20 | 11 |
| Left | 13 | 9 | 12 | 12 | 13 |
| Agency workers, average number | 9 | 9.6 | 9 | 13.6 | 9.3 |
Source: social balance sheet in the 2022 to 2026 annual accounts
Auditor
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Fee for the audit | €7,000 | €7,000 | €7,000 | €7,325 | €7,325 |
Source: notes to the 2022 to 2026 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €6,976 awarded · €6,976 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €4,313 | €4,313 |
| 2022 | 1 | €2,663 | €2,663 |
Schemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | €29.7m | - | €27.6m | €25.4m | €31.7m | €31.7m | €31.2m | ▼ 1.6% |
| Turnover70 | €26.0m | €29.5m | €31.6m | €27.5m | €25.2m | €31.5m | €31.6m | €31.0m | ▼ 1.8% |
| Other operating income74 | - | €0.1m | - | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 39.4% |
| Operating charges60/66A | - | €29.6m | - | €27.4m | €25.3m | €31.5m | €31.6m | €31.3m | ▼ 1.2% |
| Goods for resale, raw materials and consumables60 | - | €25.3m | - | €23.2m | €21.0m | €26.3m | €26.1m | €25.6m | ▼ 1.9% |
| Purchases600/8 | - | - | - | €23.2m | €21.0m | €26.3m | €26.1m | €25.6m | ▼ 1.9% |
| Services and other goods61 | - | €2.0m | - | €1.6m | €1.6m | €2.3m | €2.6m | €2.3m | ▼ 14.1% |
| Remuneration, social security and pensions62 | - | €2.2m | - | €2.5m | €2.6m | €2.9m | €2.8m | €3.3m | ▲ 17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.003m | €0.003m | €0.003m | €0.002m | - | - | - | - | - |
| Other operating charges640/8 | - | €0.06m | - | €0.05m | €0.06m | €0.07m | €0.07m | €0.08m | ▲ 5.8% |
| Non-recurring operating charges66A | - | - | - | €0.02m | - | - | - | - | - |
| Operating profit (loss)9901 | €0.08m | €0.09m | €0.9m | €0.3m | €0.09m | €0.2m | €0.09m | -€0.06m | - |
| Financial income75/76B | - | - | - | €90 | - | - | - | - | - |
| Recurring financial income75 | €4 | €19 | €3 | €90 | - | - | - | - | - |
| Other financial income752/9 | - | €19 | - | €90 | - | - | - | - | - |
| Financial charges65/66B | - | €0.008m | - | €0.009m | €0.008m | €0.01m | €0.01m | €0.01m | ▲ 3.3% |
| Recurring financial charges65 | €0.009m | €0.008m | €0.02m | €0.009m | €0.008m | €0.01m | €0.01m | €0.01m | ▲ 3.3% |
| Other financial charges652/9 | - | €0.008m | - | €0.009m | €0.008m | €0.01m | €0.01m | €0.01m | ▲ 3.3% |
| Profit (loss) for the period before taxes9903 | €0.07m | €0.08m | €0.9m | €0.3m | €0.08m | €0.2m | €0.08m | -€0.08m | - |
| Income taxes67/77 | €0.03m | €0.03m | €0.2m | €0.08m | €0.03m | €0.05m | €0.03m | €0.003m | ▼ 88.2% |
| Taxes670/3 | - | €0.03m | - | €0.08m | €0.03m | €0.05m | €0.03m | €0.003m | ▼ 88.2% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.001m | €286 | - | - | - | - |
| Profit (loss) for the period9904 | €0.04m | €0.06m | €0.7m | €0.2m | €0.05m | €0.1m | €0.05m | -€0.08m | - |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.06m | €0.7m | €0.2m | €0.05m | €0.1m | €0.05m | -€0.08m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.6m | €6.1m | €5.6m | €5.5m | €7.2m | €8.8m | €9.0m | €5.1m | ▼ 43.2% |
| Fixed assets21/28 | €0.01m | €0.008m | €0.004m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Tangible fixed assets22/27 | €0.008m | €0.005m | €0.002m | - | - | - | - | - | - |
| Furniture and vehicles24 | - | €0.005m | - | - | - | - | - | - | - |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Other financial fixed assets284/8 | - | €0.003m | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Amounts receivable and cash guarantees285/8 | - | €0.003m | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Current assets29/58 | €4.6m | €6.1m | €5.6m | €5.5m | €7.2m | €8.8m | €9.0m | €5.1m | ▼ 43.2% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €7.9m | €4.0m | ▼ 49.2% |
| Other amounts receivable291 | - | - | - | - | - | - | €7.9m | €4.0m | ▼ 49.2% |
| Amounts receivable within one year40/41 | €4.5m | €5.6m | €5.3m | €5.4m | €6.9m | €8.5m | €0.6m | €0.8m | ▲ 27.9% |
| Trade receivables40 | - | €0.2m | - | €0.04m | €0.4m | €0.4m | €0.6m | €0.6m | ▼ 6.2% |
| Other amounts receivable41 | - | €5.4m | - | €5.3m | €6.6m | €8.1m | €0.03m | €0.2m | ▲ 748% |
| Cash at bank and in hand54/58 | €0.05m | €0.5m | €0.3m | €0.1m | €0.2m | €0.3m | €0.5m | €0.3m | ▼ 40.4% |
| Deferred charges and accrued income490/1 | - | €0.007m | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 4.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.6m | €6.1m | €5.6m | €5.5m | €7.2m | €8.8m | €9.0m | €5.1m | ▼ 43.2% |
| Equity10/15 | €3.7m | €3.8m | €4.4m | €4.6m | €4.7m | €4.8m | €1.4m | €1.3m | ▼ 5.9% |
| Contributions10/11 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Capital10 | - | €0.5m | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Issued capital100 | - | €0.5m | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Reserves13 | €2.3m | €2.3m | €2.3m | €2.3m | €2.3m | €2.3m | €0.8m | €0.8m | ▼ 9.4% |
| Non-distributable reserves130/1 | - | €0.05m | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Legal reserve130 | - | €0.05m | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | €2.2m | - | €2.2m | €2.2m | €2.2m | €0.8m | €0.7m | ▼ 10.0% |
| Profit (loss) carried forward14 | €0.9m | €1.0m | €1.7m | €1.8m | €1.9m | €2.0m | - | - | - |
| Amounts payable17/49 | €0.9m | €2.3m | €1.1m | €0.9m | €2.5m | €4.0m | €7.7m | €3.9m | ▼ 49.8% |
| Amounts payable within one year42/48 | €0.8m | €2.3m | €1.1m | €0.9m | €2.5m | €3.9m | €7.6m | €3.8m | ▼ 49.9% |
| Trade debts44 | €0.4m | €1.8m | €0.5m | €0.4m | €1.9m | €3.4m | €3.4m | €3.3m | ▼ 4.0% |
| Suppliers440/4 | - | €1.8m | - | €0.4m | €1.9m | €3.4m | €3.4m | €3.3m | ▼ 4.0% |
| Advances received on contracts in progress46 | - | €0.006m | - | - | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | €0.5m | - | €0.4m | €0.5m | €0.5m | €0.7m | €0.5m | ▼ 26.3% |
| Taxes450/3 | - | €0.1m | - | €0.02m | €0.1m | €0.1m | €0.1m | €0.02m | ▼ 82.1% |
| Remuneration and social security454/9 | - | €0.4m | - | €0.4m | €0.4m | €0.4m | €0.6m | €0.5m | ▼ 16.8% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.03m | €0.03m | €3.5m | €0.03m | ▼ 99.2% |
| Accrued charges and deferred income492/3 | - | €0.03m | - | €0.05m | €0.03m | €0.04m | €0.05m | €0.03m | ▼ 30.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,423 | €55,242 | €671,728 | €192,681 | €53,304 | €118,295 | €49,442 | -€79,689 | - |
| + Depreciation and write-downs630 | €3,107 | €3,107 | €3,107 | €1,700 | - | - | - | - | - |
| Operating cash flow (approximation) | €44,529 | €58,349 | €674,834 | €194,382 | €53,304 | €118,295 | €49,442 | -€79,689 | - |
| Investment in fixed assets (approximation) | - | -€0 | -€0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €419,864 | -€210,121 | -€140,903 | €91,133 | €61,847 | €230,969 | -€205,103 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 371 companies had the same profile as B.C. has now. Two years later, 96.8% were still going and 0.5% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a small loss
96.8%
was still going
2.2%
stopped otherwise
0.5%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of B.C. itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 371 companies, not a prediction for B.C.. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | full format | 29-09-2026 | 2026-00537051 | |
| 31-03-2025 | full format | 25-09-2025 | 2025-00506657 | |
| 31-03-2024 | full format | 25-09-2024 | 2024-00473732 | |
| 31-03-2023 | full format | 11-10-2023 | 2023-00484992 | |
| 31-03-2022 | full format | 13-10-2022 | 2022-20459153 | |
| 31-03-2021 | full format | 20-10-2021 | 2021-72500378 | |
| 31-03-2020 | full format | 20-10-2020 | 2020-62900137 | |
| 31-03-2019 | full format | 30-10-2019 | 2019-72000431 | |
| 31-03-2018 | full format | 12-09-2018 | 2018-62900574 | |
| 31-03-2017 | full format | 29-09-2017 | 2017-65300488 |