B-CONNECTED
ActiveSummary
The annual accounts of B-CONNECTED for fiscal year 2025 show a net loss of 52% of the equity at the start of that year. The 2025 annual accounts show equity of €159,882 and a net result of -€175,198. Equity is shrinking by ~28.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 15% of 4235 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability29▲+11
Solvency30▼-3
Growth45▼-4
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.22 against 1.05 in 2024; short-term debt: 71.8% and cash: 18.8% of total assets), and 95.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€175,198
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 4235 sector peers (2025).
NBB · sector comparisonPosition among 4235 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-09-2026, 46 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
46 d late
2024
49 d late
2023
26 d late
2022
53 d late
2021
31 d late
2020
145 d late
2019
59 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 58 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 15 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, full schema
In the rankings
#6 employer in Aalst, Wholesale and retail trade sector
Turnover
€11.3m▼ 9.2%
2024 · €12.5m
EBIT margin
-1.0%▲ 0.5pp
2024 · -1.5%
Net result
-€175,198▲ 40.0%
2024 · -€292,203
Working capital
€534,332▲ 214%
2024 · €169,911
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€13.4m▲ 12.5%€13.1m▼ 2.3%€12.3m▼ 6.3%€12.5m▲ 1.4%€11.3m▼ 9.2%
Operating result€32,221-€154,287-€95,589▲ 38.0%-€191,541▼ 100%-€117,045▲ 38.9%
Net result€14,700within the sector's middle half-€180,174below the sector's middle half-€125,727below the sector's middle half▲ 30.2%-€292,203below the sector's middle half▼ 132%-€175,198below the sector's middle half▲ 40.0%
EBIT margin0.2%▲ 5.9pp-1.2%▼ 1.4pp-0.8%▲ 0.4pp-1.5%▼ 0.8pp-1.0%▲ 0.5pp
Equity€933,184above the sector's middle half▲ 1.6%€753,010within the sector's middle half▼ 19.3%€627,282within the sector's middle half▼ 16.7%€335,080within the sector's middle half▼ 46.6%€159,882within the sector's middle half▼ 52.3%
Total assets€5.3mabove the sector's middle half▼ 1.9%€4.7mabove the sector's middle half▼ 12.2%€4.9mabove the sector's middle half▲ 4.6%€4.4mabove the sector's middle half▼ 10.5%€3.4mwithin the sector's middle half▼ 21.4%
Debt€4.4m▼ 2.6%€3.9m▼ 10.7%€4.2m▲ 8.7%€4.0m▼ 5.1%€3.3m▼ 18.9%
Working capital€302below the sector's middle half▼ 99.9%€90,494within the sector's middle half▲ 29,831%€283,161within the sector's middle half▲ 213%€169,911within the sector's middle half▼ 40.0%€534,332within the sector's middle half▲ 214%
Solvency17.6%within the sector's middle half▲ 0.6pp16.2%within the sector's middle half▼ 1.4pp12.9%within the sector's middle half▼ 3.3pp7.7%below the sector's middle half▼ 5.2pp4.7%below the sector's middle half▼ 3.0pp
Current ratio1.00below the sector's middle half▼ 0.121.03within the sector's middle half▲ 0.031.08within the sector's middle half▲ 0.051.05within the sector's middle half▼ 0.031.22within the sector's middle half▲ 0.17
Return on assets (ROA)0.3%below the sector's middle half▲ 13.1pp-3.9%below the sector's middle half▼ 4.1pp-2.6%below the sector's middle half▲ 1.3pp-6.7%below the sector's middle half▼ 4.1pp-5.1%below the sector's middle half▲ 1.6pp
Staff (FTE)114.8above the sector's middle half▲ 16.7%121.9above the sector's middle half▲ 6.2%104.7above the sector's middle half▼ 14.1%91.2above the sector's middle half▼ 12.9%75.3above the sector's middle half▼ 17.4%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €117,045 in 2025 against €191,541 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.4m
Fixed assets
€432,369 ▼ 35.6%
Current assets
€3.0m ▼ 18.9%
Equity and liabilities €3.4m
Equity
€159,882 ▼ 52.3%
Debt
€3.3m ▼ 18.9%
Debt's share of the balance-sheet total rises from 92.3% to 95.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€133,210▲
2024 · €63,813
Cash flow
€75,057▲
2024 · -€36,849
Debt to equity
20.42▲
2024 · 12.01
ROE
-109.6%▼
2024 · -87.2%
Interest coverage
2.29▲
2024 · 0.63
Debt ≤ 1 year
€2.5m▼
2024 · €3.5m
Debt > 1 year
€800,000▲
2024 · €500,000
Staff costs
€3.1m▼
2024 · €3.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 141 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 20 years or older
- solvency under 10%
- a small loss
2.1%
went bankrupt
1.4%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 141 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €14.4m | €13.6m | €12.3m | €12.5m | €11.6m | ▼ 7.1% |
| Turnover70 | €13.4m | €13.1m | €12.3m | €12.5m | €11.3m | ▼ 9.2% |
| Other operating income74 | €31,917 | €0 | - | €26,748 | €32,693 | ▲ 22.2% |
| Non-recurring operating income76A | €900,000 | €450,000 | €0 | - | €250,000 | - |
| Operating charges60/66A | €14.3m | €13.7m | €12.4m | €12.7m | €11.7m | ▼ 7.6% |
| Goods for resale, raw materials and consumables60 | €2.8m | €4.4m | €4.5m | €6.0m | €6.0m | ▼ 0.8% |
| Purchases600/8 | €2.8m | €4.4m | €4.5m | €6.0m | €6.0m | ▼ 0.8% |
| Services and other goods61 | €7.4m | €4.6m | €3.5m | €2.7m | €2.4m | ▼ 11.6% |
| Remuneration, social security and pensions62 | €4.1m | €4.4m | €4.1m | €3.7m | €3.1m | ▼ 16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €114,259 | €277,846 | €266,511 | €255,354 | €250,255 | ▼ 2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €1,229 | €70,308 | €20,105 | €3,906 | €617 | ▼ 84.2% |
| Operating profit (loss)9901 | €32,221 | -€154,287 | -€95,589 | -€191,541 | -€117,045 | ▲ 38.9% |
| Financial income75/76B | €0 | - | - | - | - | - |
| Recurring financial income75 | €0 | - | - | - | - | - |
| Other financial income752/9 | €0 | - | - | - | - | - |
| Financial charges65/66B | €17,521 | €25,888 | €30,139 | €100,661 | €58,153 | ▼ 42.2% |
| Recurring financial charges65 | €17,521 | €25,888 | €30,139 | €100,661 | €58,153 | ▼ 42.2% |
| Debt charges650 | €17,367 | €25,838 | €30,139 | €100,661 | €58,153 | ▼ 42.2% |
| Other financial charges652/9 | €154 | €50 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €14,700 | -€180,174 | -€125,727 | -€292,203 | -€175,198 | ▲ 40.0% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €14,700 | -€180,174 | -€125,727 | -€292,203 | -€175,198 | ▲ 40.0% |
| Profit (loss) for the period to be appropriated9905 | €14,700 | -€180,174 | -€125,727 | -€292,203 | -€175,198 | ▲ 40.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.3m | €4.7m | €4.9m | €4.4m | €3.4m | ▼ 21.4% |
| Fixed assets21/28 | €1.4m | €1.2m | €926,678 | €671,324 | €432,369 | ▼ 35.6% |
| Intangible fixed assets21 | €902,975 | €716,512 | €530,049 | €347,384 | €165,734 | ▼ 52.3% |
| Tangible fixed assets22/27 | €533,421 | €469,518 | €389,470 | €316,781 | €259,476 | ▼ 18.1% |
| Plant, machinery and equipment23 | €39,020 | €38,901 | €21,923 | €12,306 | €13,827 | ▲ 12.4% |
| Furniture and vehicles24 | €7,300 | €5,644 | €3,989 | €2,333 | €677 | ▼ 71.0% |
| Other tangible fixed assets26 | €487,100 | €424,973 | €363,558 | €302,143 | €244,972 | ▼ 18.9% |
| Financial fixed assets28 | €7,160 | €7,160 | €7,160 | €7,160 | €7,160 | = |
| Other financial fixed assets284/8 | €7,160 | €7,160 | €7,160 | €7,160 | €7,160 | = |
| Amounts receivable and cash guarantees285/8 | €7,160 | €7,160 | €7,160 | €7,160 | €7,160 | = |
| Current assets29/58 | €3.9m | €3.5m | €3.9m | €3.7m | €3.0m | ▼ 18.9% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €3.2m | €2.6m | €3.0m | €2.7m | €1.8m | ▼ 33.2% |
| Trade receivables40 | €3.2m | €2.6m | €3.0m | €2.7m | €1.8m | ▼ 33.2% |
| Cash at bank and in hand54/58 | €603,736 | €852,151 | €780,126 | €617,381 | €644,140 | ▲ 4.3% |
| Deferred charges and accrued income490/1 | €7,031 | €14,800 | €120,000 | €331,566 | €519,579 | ▲ 56.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.3m | €4.7m | €4.9m | €4.4m | €3.4m | ▼ 21.4% |
| Equity10/15 | €933,184 | €753,010 | €627,282 | €335,080 | €159,882 | ▼ 52.3% |
| Contributions10/11 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Capital10 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Issued capital100 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | €733,184 | €553,010 | €427,282 | €135,080 | €54,700 | ▼ 59.5% |
| Non-distributable reserves130/1 | €54,700 | €54,700 | €54,700 | €54,700 | €54,700 | = |
| Legal reserve130 | €54,700 | €54,700 | €54,700 | €54,700 | €54,700 | = |
| Distributable reserves133 | €678,484 | €498,310 | €372,582 | €80,380 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | - | - | - | -€94,818 | - |
| Amounts payable17/49 | €4.4m | €3.9m | €4.2m | €4.0m | €3.3m | ▼ 18.9% |
| Amounts payable after more than one year17 | €500,000 | €500,000 | €500,000 | €500,000 | €800,000 | ▲ 60.0% |
| Financial debts170/4 | €500,000 | €500,000 | €500,000 | €500,000 | €800,000 | ▲ 60.0% |
| Credit institutions173 | €500,000 | €500,000 | €500,000 | €500,000 | €800,000 | ▲ 60.0% |
| Amounts payable within one year42/48 | €3.9m | €3.4m | €3.7m | €3.5m | €2.5m | ▼ 30.1% |
| Current portion of amounts payable after more than one year42 | €113,963 | €0 | - | - | - | - |
| Financial debts43 | €200,000 | €90,445 | €351,881 | €283,817 | €204,922 | ▼ 27.8% |
| Credit institutions430/8 | €200,000 | €90,445 | €351,881 | €283,817 | €204,922 | ▼ 27.8% |
| Trade debts44 | €2.6m | €1.9m | €1.7m | €1.4m | €758,004 | ▼ 46.8% |
| Suppliers440/4 | €2.6m | €1.9m | €1.7m | €1.4m | €758,004 | ▼ 46.8% |
| Taxes, remuneration and social security45 | €949,650 | €1.3m | €1.0m | €832,277 | €722,408 | ▼ 13.2% |
| Taxes450/3 | €339,456 | €728,469 | €307,657 | €331,195 | €240,113 | ▼ 27.5% |
| Remuneration and social security454/9 | €610,194 | €606,402 | €695,128 | €501,082 | €482,294 | ▼ 3.7% |
| Other amounts payable47/48 | - | - | €615,000 | €977,300 | €772,800 | ▼ 20.9% |
| Accrued charges and deferred income492/3 | €10,673 | €30,673 | €82,557 | €6,155 | €6,820 | ▲ 10.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,700 | -€180,174 | -€125,727 | -€292,203 | -€175,198 | ▲ 40.0% |
| + Depreciation and write-downs630 | €114,259 | €277,846 | €266,511 | €255,354 | €250,255 | ▼ 2.0% |
| Operating cash flow (approximation) | €128,958 | €97,672 | €140,784 | -€36,849 | €75,057 | ▲ 304% |
| Investment in fixed assets (approximation) | - | -€27,480 | €0 | €0 | -€11,300 | - |
| Change in cash | - | €248,415 | -€72,025 | -€162,744 | €26,759 | ▲ 116% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 46 days late
2025
18-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 49 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 26 days late
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 53 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Back to profitnet €14,700
Net result €14,700 after one loss-making year.
23-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 145 days late
2020
31-12
Financial
Weakest financial yearnet -€690,530
Net result drops to -€690,530, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 59 days late
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 1 day late
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 2017
Ground area
2,241 m²
Building footprint
752 m²
Volume, LiDAR
15,580 m³
Parcel 41002A0715/00L004, Flanders · tallest building 28.9 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
B-Connected
since 20172.268.517.026
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002A0715/00L004 | Flanders | 2,241 m² | 1 · 752 m² | 28.9 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- JTML
- B-CONNECTED
Highest known parent: JTML. The sources do not say who stands above it.
Owners 1
- JTMLparentSourceaccounts JTML 202499.99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
894500DT6JPS9MZ4AY28
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Of 12,955 companies in sector 47120 we hold annual accounts for 2,193. 1,438 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-08-1999
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
82200Office administrative, office support and other business support activities
73200Market research and public opinion polling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466663040
Also
9925:BE0466663040
Registered
18-12-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.