B & CS
ActiveSummary
B & CS has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €72,541 and a net result of €36,493. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 53% of 19364 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability90▲+40
Solvency60▲+15
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity short (current ratio 0.65 against 0.5 in 2023; short-term debt: 65.4% and cash: 35.5% of total assets), and 65.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
34.6%
Return on assets
17.4%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €72,541
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
22 d late
2022
29 d late
2021
30 d early
2020
33 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 13 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€72,541▲ 101%
2023 · €36,048
Total assets
€209,826▲ 14.7%
2023 · €182,975
Net result
€36,493▲ 487%
2023 · €6,220
Working capital
-€48,181▲ 32.5%
2023 · -€71,401
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€16,354▲ 8.0%€17,827▲ 9.0%€1,913▼ 89.3%€14,314▲ 648%€57,266▲ 300%
Net result€759▼ 75.5%€105▼ 86.2%-€11,279€6,220€36,493▲ 487%
Equity€41,003▲ 1.9%€41,107▲ 0.3%€29,703▼ 27.7%€36,048▲ 21.4%€72,541▲ 101%
Total assets€630,289▲ 3.7%€694,627▲ 10.2%€178,945▼ 74.2%€182,975▲ 2.3%€209,826▲ 14.7%
Debt€589,287▲ 3.8%€653,520▲ 10.9%€149,242▼ 77.2%€146,927▼ 1.6%€137,285▼ 6.6%
Working capital€435,042▲ 0.9%€462,687▲ 6.4%-€52,930-€71,401▼ 34.9%-€48,181▲ 32.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2022 Total assets -74% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 300% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €209,826
Fixed assets
€120,722 ▲ 8.0%
Current assets
€89,104 ▲ 25.2%
Equity and liabilities €209,826
Equity
€72,541 ▲ 101%
Debt
€137,285 ▼ 6.6%
Debt's share of the balance-sheet total falls from 80.3% to 65.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€69,332▲
2023 · €25,660
Cash flow
€48,559▲
2023 · €17,566
Current ratio
0.65▲
2023 · 0.50
Debt to equity
1.89▼
2023 · 4.08
ROE
50.3%▲
2023 · 17.3%
ROA
17.4%▲
2023 · 3.4%
Interest coverage
7.64▲
2023 · 3.23
Debt ≤ 1 year
€137,285▼
2023 · €142,594
Income taxes
€11,698▲
2023 · €166
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 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% | 1.6% |
| 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 74% 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 34,672 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €603 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €390 | €4,134 | €8,207 | €11,346 | €12,066 | ▲ 6.3% |
| Other operating charges640/8 | - | €1,033 | €211 | €1,450 | €1,495 | ▲ 3.1% |
| Gross operating margin9900 | €17,553 | €22,995 | €10,330 | €27,109 | €70,826 | ▲ 161% |
| Operating profit (loss)9901 | €16,354 | €17,827 | €1,913 | €14,314 | €57,266 | ▲ 300% |
| Financial income75/76B | - | - | €0 | €7 | - | - |
| Recurring financial income75 | €31 | - | €0 | €7 | - | - |
| Financial charges65/66B | - | €17,722 | €12,956 | €7,936 | €9,075 | ▲ 14.4% |
| Recurring financial charges65 | €15,456 | €17,722 | €12,956 | €7,936 | €9,075 | ▲ 14.4% |
| Profit (loss) for the period before taxes9903 | €928 | €105 | -€11,043 | €6,386 | €48,191 | ▲ 655% |
| Income taxes67/77 | €169 | - | €236 | €166 | €11,698 | ▲ 6,966% |
| Profit (loss) for the period9904 | €759 | €105 | -€11,279 | €6,220 | €36,493 | ▲ 487% |
| Profit (loss) for the period to be appropriated9905 | €759 | €105 | -€11,279 | €6,220 | €36,493 | ▲ 487% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €630,289 | €694,627 | €178,945 | €182,975 | €209,826 | ▲ 14.7% |
| Fixed assets21/28 | €77,554 | €73,420 | €92,137 | €111,782 | €120,722 | ▲ 8.0% |
| Tangible fixed assets22/27 | €77,554 | €73,420 | €92,137 | €111,782 | €120,722 | ▲ 8.0% |
| Land and buildings22 | - | €73,197 | €80,269 | €99,629 | €112,553 | ▲ 13.0% |
| Furniture and vehicles24 | - | €223 | €11,868 | €12,154 | €8,169 | ▼ 32.8% |
| Current assets29/58 | €552,735 | €621,207 | €86,808 | €71,193 | €89,104 | ▲ 25.2% |
| Stocks and contracts in progress3 | €544,557 | €604,557 | - | - | - | - |
| Stocks30/36 | - | €604,557 | - | - | - | - |
| Amounts receivable within one year40/41 | €6,208 | €8,902 | €5,078 | €18,020 | €14,541 | ▼ 19.3% |
| Trade receivables40 | - | - | - | €14,520 | €14,541 | ▲ 0.1% |
| Other amounts receivable41 | - | €8,902 | €5,078 | €3,500 | - | - |
| Cash at bank and in hand54/58 | €240 | €5,992 | €78,413 | €53,173 | €74,563 | ▲ 40.2% |
| Deferred charges and accrued income490/1 | - | €1,756 | €3,317 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €630,289 | €694,627 | €178,945 | €182,975 | €209,826 | ▲ 14.7% |
| Equity10/15 | €41,003 | €41,107 | €29,703 | €36,048 | €72,541 | ▲ 101% |
| Contributions10/11 | €45,000 | €45,000 | €44,875 | €45,000 | €45,000 | = |
| Capital10 | - | €45,000 | €44,875 | - | - | - |
| Issued capital100 | - | €45,000 | €44,875 | - | - | - |
| Outside capital11 | - | - | - | €45,000 | €45,000 | = |
| Other1109/19 | - | - | - | €45,000 | €45,000 | = |
| Reserves13 | €1,486 | €1,590 | €1,590 | €1,590 | €36,590 | ▲ 2,201% |
| Non-distributable reserves130/1 | - | €727 | €727 | - | - | - |
| Legal reserve130 | - | €727 | €727 | - | - | - |
| Distributable reserves133 | - | €864 | €864 | €1,590 | €36,590 | ▲ 2,201% |
| Profit (loss) carried forward14 | -€5,483 | -€5,483 | -€16,762 | -€10,542 | -€9,050 | ▲ 14.2% |
| Amounts payable17/49 | €589,287 | €653,520 | €149,242 | €146,927 | €137,285 | ▼ 6.6% |
| Amounts payable after more than one year17 | €471,593 | €495,000 | €9,505 | €4,333 | - | - |
| Financial debts170/4 | - | €495,000 | €9,505 | €4,333 | - | - |
| Amounts payable within one year42/48 | €117,694 | €158,520 | €139,738 | €142,594 | €137,285 | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | - | - | €4,560 | €4,979 | - | - |
| Trade debts44 | €1,324 | €614 | €784 | €263 | €10,476 | ▲ 3,877% |
| Suppliers440/4 | - | €614 | €784 | €263 | €10,476 | ▲ 3,877% |
| Taxes, remuneration and social security45 | - | €169 | €118 | €18,149 | €28,553 | ▲ 57.3% |
| Taxes450/3 | - | €169 | €118 | €18,149 | €28,553 | ▲ 57.3% |
| Other amounts payable47/48 | - | €157,736 | €134,276 | €119,203 | €98,256 | ▼ 17.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €759 | €105 | -€11,279 | €6,220 | €36,493 | ▲ 487% |
| + Depreciation and write-downs630 | €390 | €4,134 | €8,207 | €11,346 | €12,066 | ▲ 6.3% |
| Operating cash flow (approximation) | €1,149 | €4,239 | -€3,073 | €17,566 | €48,559 | ▲ 176% |
| Investment in fixed assets (approximation) | - | €0 | -€26,924 | -€30,991 | -€21,006 | ▲ 32.2% |
| Change in cash | - | €5,753 | €72,421 | -€25,240 | €21,390 | ▲ 185% |
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
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €36,493 ▲487%
Operating result €57,266, net result €36,493, both a record.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
31-12
Financial
Back to profitnet €6,220
Net result €6,220 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet -€11,279
Net result drops to -€11,279, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Tielt · 1 establishment unit since 2015
Ground area
323 m²
Building footprint
132 m²
Volume, LiDAR
637 m³
Parcel 37322C0136/00F000, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
B & CS
since 20152.245.105.976
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37322C0136/00F000 | Flanders | 323 m² | 1 · 132 m² | 7.4 m · 2 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.
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,384. 3,518 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-08-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68121Development of residential building projects
68122Development of non-residential building projects
47529Retail trade
70200Business and other management consultancy
77399Renting and leasing of other machinery, equipment and tangible goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0635836978
Also
9925:BE0635836978
Registered
07-10-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.