B-VORM
ActiveSummary
B-VORM has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €138,319 and a net result of -€32,536. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 33% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▼-59
Solvency56▲+4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity short (current ratio 0.13 against 1.07 in 2024; short-term debt: 26.8% and cash: 0% of total assets), and 68.8% 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
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2025Solvency, return and age of the figures
Solvency
31.2%
Return on assets
-7.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
50 d early
2023
77 d early
2022
32 d early
2021
52 d early
2020
74 d early
2019
38 d early
← 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 54 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 9 June (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
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Financials · fiscal year 2025, micro schema
Equity
€138,319▼ 19.0%
2024 · €170,854
Total assets
€443,685▼ 28.9%
2024 · €623,930
Net result
-€32,536
2024 · €1,775
Working capital
-€103,990
2024 · €8,079
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Operating result€42,099▼ 58.9%-€1,709€7,561-€5,178-€31,254▼ 504%
Net result€33,971within the sector's middle half▼ 60.2%€4,110below the sector's middle half▼ 87.9%€4,480below the sector's middle half▲ 9.0%€1,775below the sector's middle half▼ 60.4%-€32,536below the sector's middle half
Equity€270,550within the sector's middle half▲ 1.0%€259,335within the sector's middle half▼ 4.1%€255,396within the sector's middle half▼ 1.5%€170,854within the sector's middle half▼ 33.1%€138,319within the sector's middle half▼ 19.0%
Total assets€936,977within the sector's middle half▲ 58.8%€793,397within the sector's middle half▼ 15.3%€688,282within the sector's middle half▼ 13.2%€623,930within the sector's middle half▼ 9.3%€443,685above the sector's middle half▼ 28.9%
Debt€655,740▲ 111%€522,812▼ 20.3%€422,760▼ 19.1%€442,388▲ 4.6%€301,991▼ 31.7%
Working capital€200,153within the sector's middle half▼ 49.4%€136,137within the sector's middle half▼ 32.0%€47,381within the sector's middle half▼ 65.2%€8,079below the sector's middle half▼ 82.9%-€103,990below the sector's middle half
Solvency28.9%within the sector's middle half▼ 16.5pp32.7%within the sector's middle half▲ 3.8pp37.1%within the sector's middle half▲ 4.4pp27.4%within the sector's middle half▼ 9.7pp31.2%within the sector's middle half▲ 3.8pp
Current ratio2.09within the sector's middle half▼ 1.632.14within the sector's middle half▲ 0.051.35within the sector's middle half▼ 0.791.07below the sector's middle half▼ 0.280.13below the sector's middle half▼ 0.94
Return on assets (ROA)3.6%within the sector's middle half▼ 10.8pp0.5%below the sector's middle half▼ 3.1pp0.7%below the sector's middle half▲ 0.1pp0.3%below the sector's middle half▼ 0.4pp-7.3%below the sector's middle half▼ 7.6pp
Staff (FTE)1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=0.3▼ 70.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €31,254 in 2025 against €5,178 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €443,685
Fixed assets
€428,591 ▼ 13.1%
Current assets
€15,094 ▼ 88.5%
Equity and liabilities €443,685
Equity
€138,319 ▼ 19.0%
Provisions
€3,375 ▼ 68.4%
Debt
€301,991 ▼ 31.7%
Debt's share of the balance-sheet total falls from 70.9% to 68.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,821▼
2024 · €25,580
Cash flow
-€3,103▼
2024 · €32,534
Debt to equity
2.18▼
2024 · 2.59
ROE
-23.5%▼
2024 · 1.0%
Interest coverage
-0.56▼
2024 · 7.13
Debt ≤ 1 year
€119,083▼
2024 · €122,827
Debt > 1 year
€173,473▼
2024 · €213,109
Income taxes
€176▼
2024 · €2,440
Staff costs
€17,834▼
2024 · €59,819
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 12,321 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €19,263 | €10,874 | €43,519 | ▲ 300% |
| Remuneration, social security and pensions62 | €75,151 | €60,617 | €59,933 | €59,819 | €17,834 | ▼ 70.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,907 | €43,130 | €36,543 | €30,759 | €29,433 | ▼ 4.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€1,125 | €563 | -€1,125 | €563 | -€7,313 | ▼ 1,400% |
| Other operating charges640/8 | €746 | €1,558 | €531 | €2,067 | €528 | ▼ 74.5% |
| Non-recurring operating charges66A | - | - | - | €355 | - | - |
| Gross operating margin9900 | €145,778 | €104,159 | €103,443 | €88,384 | €9,228 | ▼ 89.6% |
| Operating profit (loss)9901 | €42,099 | -€1,709 | €7,561 | -€5,178 | -€31,254 | ▼ 504% |
| Financial income75/76B | €14,919 | €19,088 | €9,987 | €12,981 | €2,144 | ▼ 83.5% |
| Recurring financial income75 | €14,919 | €13,670 | €9,987 | €12,981 | €2,144 | ▼ 83.5% |
| Non-recurring financial income76B | - | €5,418 | - | - | - | - |
| Financial charges65/66B | €7,297 | €11,024 | €8,571 | €3,587 | €3,250 | ▼ 9.4% |
| Recurring financial charges65 | €7,297 | €11,024 | €8,571 | €3,587 | €3,250 | ▼ 9.4% |
| Profit (loss) for the period before taxes9903 | €49,721 | €6,356 | €8,977 | €4,215 | -€32,360 | ▼ 868% |
| Income taxes67/77 | €15,750 | €2,246 | €4,497 | €2,440 | €176 | ▼ 92.8% |
| Profit (loss) for the period9904 | €33,971 | €4,110 | €4,480 | €1,775 | -€32,536 | ▼ 1,933% |
| Profit (loss) for the period to be appropriated9905 | €33,971 | €4,110 | €4,480 | €1,775 | -€32,536 | ▼ 1,933% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €936,977 | €793,397 | €688,282 | €623,930 | €443,685 | ▼ 28.9% |
| Fixed assets21/28 | €553,216 | €538,098 | €504,938 | €493,024 | €428,591 | ▼ 13.1% |
| Tangible fixed assets22/27 | €513,350 | €498,231 | €465,072 | €453,158 | €423,725 | ▼ 6.5% |
| Land and buildings22 | €443,067 | €428,148 | €413,230 | €413,910 | €403,716 | ▼ 2.5% |
| Plant, machinery and equipment23 | €18,673 | €9,413 | €5,735 | €10,523 | €8,097 | ▼ 23.1% |
| Furniture and vehicles24 | €49,371 | €59,618 | €45,353 | €27,970 | €11,157 | ▼ 60.1% |
| Leasing and similar rights25 | €1,485 | €297 | - | - | - | - |
| Other tangible fixed assets26 | €755 | €755 | €755 | €755 | €755 | = |
| Financial fixed assets28 | €39,866 | €39,866 | €39,866 | €39,866 | €4,866 | ▼ 87.8% |
| Current assets29/58 | €383,760 | €255,300 | €183,343 | €130,906 | €15,094 | ▼ 88.5% |
| Amounts receivable after more than one year29 | €70,000 | €70,000 | €70,000 | €70,000 | - | - |
| Other amounts receivable291 | €70,000 | €70,000 | €70,000 | €70,000 | - | - |
| Stocks and contracts in progress3 | €10,759 | €10,141 | - | - | - | - |
| Stocks30/36 | €10,759 | €10,141 | - | - | - | - |
| Amounts receivable within one year40/41 | €90,437 | €97,277 | €53,714 | €12,152 | €15,093 | ▲ 24.2% |
| Trade receivables40 | €85,969 | €79,901 | €47,769 | €12,134 | €7,084 | ▼ 41.6% |
| Other amounts receivable41 | €4,468 | €17,376 | €5,945 | €17 | €8,009 | ▲ 45,851% |
| Cash at bank and in hand54/58 | €184,475 | €34,481 | €52,636 | €27,175 | €1 | ▼ 100.0% |
| Deferred charges and accrued income490/1 | €28,089 | €43,400 | €6,993 | €21,579 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €936,977 | €793,397 | €688,282 | €623,930 | €443,685 | ▼ 28.9% |
| Equity10/15 | €270,550 | €259,335 | €255,396 | €170,854 | €138,319 | ▼ 19.0% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €220,550 | €209,335 | €205,396 | €120,854 | €120,854 | = |
| Non-distributable reserves130/1 | €5,000 | €5,000 | - | - | - | - |
| Reserves not available under the articles1311 | €5,000 | €5,000 | - | - | - | - |
| Distributable reserves133 | €215,550 | €204,335 | €205,396 | €120,854 | €120,854 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€32,536 | - |
| Provisions and deferred taxes16 | €10,688 | €11,250 | €10,125 | €10,688 | €3,375 | ▼ 68.4% |
| Provisions for liabilities and charges160/5 | €10,688 | €11,250 | €10,125 | €10,688 | €3,375 | ▼ 68.4% |
| Environmental obligations163 | €10,688 | €11,250 | €10,125 | €10,688 | €3,375 | ▼ 68.4% |
| Amounts payable17/49 | €655,740 | €522,812 | €422,760 | €442,388 | €301,991 | ▼ 31.7% |
| Amounts payable after more than one year17 | €339,893 | €308,846 | €261,228 | €213,109 | €173,473 | ▼ 18.6% |
| Financial debts170/4 | €339,893 | €308,846 | €261,228 | €213,109 | €173,473 | ▼ 18.6% |
| Amounts payable within one year42/48 | €183,608 | €119,163 | €135,962 | €122,827 | €119,083 | ▼ 3.0% |
| Current portion of amounts payable after more than one year42 | €45,748 | €47,141 | €47,618 | €48,118 | €39,636 | ▼ 17.6% |
| Financial debts43 | - | - | - | - | €3,576 | - |
| Credit institutions430/8 | - | - | - | - | €3,576 | - |
| Trade debts44 | €72,254 | €22,751 | €46,097 | €34,501 | €9,037 | ▼ 73.8% |
| Suppliers440/4 | €72,254 | €22,751 | €46,097 | €34,501 | €9,037 | ▼ 73.8% |
| Taxes, remuneration and social security45 | €19,852 | €22,451 | €19,767 | €18,330 | €2,616 | ▼ 85.7% |
| Taxes450/3 | €11,055 | €12,215 | €13,205 | €3,808 | €2,616 | ▼ 31.3% |
| Remuneration and social security454/9 | €8,797 | €10,236 | €6,561 | €14,522 | - | - |
| Other amounts payable47/48 | €45,754 | €26,820 | €22,481 | €21,877 | €64,219 | ▲ 194% |
| Accrued charges and deferred income492/3 | €132,239 | €94,804 | €25,570 | €106,452 | €9,434 | ▼ 91.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,971 | €4,110 | €4,480 | €1,775 | -€32,536 | ▼ 1,933% |
| + Depreciation and write-downs630 | €28,907 | €43,130 | €36,543 | €30,759 | €29,433 | ▼ 4.3% |
| Operating cash flow (approximation) | €62,879 | €47,240 | €41,024 | €32,534 | -€3,103 | ▼ 110% |
| Investment in fixed assets (approximation) | - | -€28,012 | -€3,384 | -€18,845 | €35,000 | ▲ 286% |
| Change in cash | - | -€149,995 | €18,156 | -€25,461 | -€27,175 | ▼ 6.7% |
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
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€32,536
Net result drops to -€32,536, the lowest in the series.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
15-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
18-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €85,458 ▲1,153%
Operating result €109,060, net result €85,458, both a record.
31-12
Financial
Equity above €200,000Eq €261,979 ▲48.4%
2 profitable years in a row build equity to €261,979.
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Kortrijk · 1 establishment unit since 2005
Ground area
3,069 m²
Building footprint
2,243 m²
Volume, LiDAR
21,955 m³
2 parcels, Flanders · tallest building 18.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
B-Vorm
since 20052.150.443.874
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31804D0967/00H004 | Flanders | 1,759 m² | 1 · 1,297 m² | 18.7 m · 3 fl. |
| 34354C0015/00W007 | Flanders | 1,310 m² | 1 · 946 m² | 17.6 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
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Of 20,026 companies in sector 43320 we hold annual accounts for 9,139. 7,670 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
Founded11-01-2005
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
31002Manufacture of furniture
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0871112062
Registered
20-05-2025
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.