B2D
ActiveSummary
B2D has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of -€126,445. Equity is growing by about 11% per year across the filed financial years. Its solvency ranks better than 51% of 10,709 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, abbreviated format
Equity
€1.6m▼ 7.3%
2024 · €1.7m
Total assets
€3.0m▲ 28.6%
2024 · €2.3m
Net result
-€126,445
2024 · €185,484
Working capital
€719,160▲ 89.6%
2024 · €379,213
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result turns negative in 2025: a loss of €45,096 after €83,872 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.05m
2025
Net result-€0.1m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€3.0m
2025
Equity€1.6m
2025
Debt€1.4m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.7m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-4.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency53.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio19.59
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.01m--€0.004m-€0.004m▼ 2.9%-€0.006m▼ 45.0%-€0.05m▼ 707%€0.08m-€0.05m
Net result€0.006m--€0.001mbelow the sector's middle half-€0.01mbelow the sector's middle half▼ 938%-€0.02mbelow the sector's middle half▼ 23.4%€0.6mabove the sector's middle half€0.2mabove the sector's middle half▼ 66.8%-€0.1mbelow the sector's middle half
Equity€1.0m-€1.0mwithin the sector's middle half▼ 0.1%€1.0mwithin the sector's middle half▼ 1.4%€1.0mwithin the sector's middle half▼ 1.8%€1.6mabove the sector's middle half▲ 56.3%€1.7mabove the sector's middle half▲ 12.0%€1.6mabove the sector's middle half▼ 7.3%
Total assets€1.6m-€1.6mwithin the sector's middle half▲ 1.6%€1.6mwithin the sector's middle half▼ 1.1%€1.8mwithin the sector's middle half▲ 16.1%€2.0mwithin the sector's middle half▲ 8.5%€2.3mwithin the sector's middle half▲ 17.8%€3.0mabove the sector's middle half▲ 28.6%
Debt€0.5m-€0.6m▲ 4.8%€0.6m▼ 0.5%€0.8m▲ 48.2%€0.4m▼ 48.1%€0.6m▲ 38.8%€1.4m▲ 132%
Working capital€0.08m-€0.1mwithin the sector's middle half▲ 32.7%€0.09mwithin the sector's middle half▼ 16.9%€0.09mwithin the sector's middle half▲ 6.4%-€0.4mbelow the sector's middle half€0.4mwithin the sector's middle half€0.7mabove the sector's middle half▲ 89.6%
Solvency65.4%-64.3%within the sector's middle half▼ 1.1pp64.1%within the sector's middle half▼ 0.2pp54.2%within the sector's middle half▼ 9.9pp78.1%within the sector's middle half▲ 23.9pp74.2%within the sector's middle half▼ 3.9pp53.5%within the sector's middle half▼ 20.7pp
Current ratio17.35-27.87above the sector's middle half▲ 10.5224.44above the sector's middle half▼ 3.4426.49above the sector's middle half▲ 2.060.13below the sector's middle half▼ 26.3656.63above the sector's middle half▲ 56.5119.59above the sector's middle half▼ 37.05
Return on assets (ROA)0.4%--0.1%below the sector's middle half▼ 0.5pp-0.9%below the sector's middle half▼ 0.8pp-1.0%below the sector's middle half▼ 0.1pp28.1%above the sector's middle half▲ 29.1pp7.9%within the sector's middle half▼ 20.2pp-4.2%below the sector's middle half▼ 12.1pp
Staff (FTE)0within the sector's middle half
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
Fixed assets
€2.3m ▲ 15.2%
Current assets
€757,853 ▲ 96.3%
Equity and liabilities €3.0m
Equity
€1.6m ▼ 7.3%
Debt
€1.4m ▲ 132%
Debt's share of the balance-sheet total rises from 25.8% to 46.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€25,089▼
2024 · €87,066
Cash flow
-€106,438▼
2024 · €188,678
Debt to equity
0.87▲
2024 · 0.35
ROE
-7.8%▼
2024 · 10.7%
Interest coverage
-1.03▼
2024 · 6.85
Debt ≤ 1 year
€38,693▲
2024 · €6,816
Debt > 1 year
€1.4m▲
2024 · €597,419
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | €3,194 | €20,007 | ▲ 526% |
| Other operating charges640/8 | - | - | - | €978 | €592 | €1,551 | €1,118 | ▼ 27.9% |
| Gross operating margin9900 | -€2,407 | -€3,131 | -€2,996 | -€4,784 | -€45,887 | €88,617 | -€23,971 | - |
| Operating profit (loss)9901 | €14,889 | -€3,864 | -€3,975 | -€5,762 | -€46,479 | €83,872 | -€45,096 | - |
| Financial income75/76B | - | - | - | €7,138 | €623,345 | €114,319 | €42,903 | ▼ 62.5% |
| Recurring financial income75 | €33,555 | €20,483 | €1,668 | €7,138 | €623,345 | €114,319 | €42,903 | ▼ 62.5% |
| Financial charges65/66B | - | - | - | €19,650 | €17,855 | €12,707 | €124,252 | ▲ 878% |
| Recurring financial charges65 | €42,377 | €18,046 | €12,505 | €19,650 | €17,855 | €12,707 | €24,252 | ▲ 90.9% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €100,000 | - |
| Profit (loss) for the period before taxes9903 | €6,066 | -€1,427 | -€14,811 | -€18,274 | €559,011 | €185,484 | -€126,445 | - |
| Profit (loss) for the period9904 | €6,066 | -€1,427 | -€14,811 | -€18,274 | €559,011 | €185,484 | -€126,445 | - |
| Profit (loss) for the period to be appropriated9905 | €6,066 | -€1,427 | -€14,811 | -€18,274 | €559,011 | €185,484 | -€126,445 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.6m | €1.6m | €1.6m | €1.8m | €2.0m | €2.3m | €3.0m | ▲ 28.6% |
| Fixed assets21/28 | €1.5m | €1.5m | €1.5m | €1.7m | €1.9m | €2.0m | €2.3m | ▲ 15.2% |
| Intangible fixed assets21 | - | - | - | - | €0.001m | €0.02m | €0.07m | ▲ 200% |
| Financial fixed assets28 | €1.5m | €1.5m | €1.5m | €1.7m | €1.9m | €1.9m | €2.2m | ▲ 12.9% |
| Current assets29/58 | €0.08m | €0.1m | €0.09m | €0.1m | €0.06m | €0.4m | €0.8m | ▲ 96.3% |
| Amounts receivable after more than one year29 | - | - | - | €0.08m | €0 | - | €0.5m | - |
| Other amounts receivable291 | - | - | - | €0.08m | €0 | - | €0.5m | - |
| Amounts receivable within one year40/41 | €0.04m | €0.02m | €0.004m | €0.01m | €0.04m | €0.4m | €0.2m | ▼ 49.1% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.04m | €0.4m | €0.2m | ▼ 49.1% |
| Cash at bank and in hand54/58 | €289 | €0.005m | €0.005m | €0.003m | €0.02m | €0.01m | €0.04m | ▲ 228% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0 | - | €0.03m | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.6m | €1.6m | €1.6m | €1.8m | €2.0m | €2.3m | €3.0m | ▲ 28.6% |
| Equity10/15 | €1.0m | €1.0m | €1.0m | €1.0m | €1.6m | €1.7m | €1.6m | ▼ 7.3% |
| Contributions10/11 | €0.9m | - | - | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.08m | €0.6m | €0.8m | €0.7m | ▼ 15.4% |
| Non-distributable reserves130/1 | - | - | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.08m | €0.6m | €0.8m | €0.7m | ▼ 15.4% |
| Amounts payable17/49 | €0.5m | €0.6m | €0.6m | €0.8m | €0.4m | €0.6m | €1.4m | ▲ 132% |
| Amounts payable after more than one year17 | €0.5m | €0.6m | €0.6m | €0.8m | - | €0.6m | €1.4m | ▲ 126% |
| Financial debts170/4 | - | - | - | €0.8m | - | €0.6m | €1.4m | ▲ 126% |
| Amounts payable within one year42/48 | €0.005m | €0.004m | €0.004m | €0.004m | €0.4m | €0.007m | €0.04m | ▲ 468% |
| Trade debts44 | €404 | €0.001m | €0.001m | €0.003m | €345 | €0.007m | €0.04m | ▲ 468% |
| Suppliers440/4 | - | - | - | €0.003m | €345 | €0.007m | €0.04m | ▲ 468% |
| Taxes, remuneration and social security45 | - | - | - | €141 | €0 | - | - | - |
| Taxes450/3 | - | - | - | €141 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €0.4m | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €329 | €0 | - | €0.01m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,066 | -€1,427 | -€14,811 | -€18,274 | €559,011 | €185,484 | -€126,445 | - |
| + Depreciation and write-downs630 | - | - | - | - | - | €3,194 | €20,007 | ▲ 526% |
| Operating cash flow (approximation) | €6,066 | -€1,427 | -€14,811 | -€18,274 | €559,011 | €188,678 | -€106,438 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€249,147 | -€195,479 | -€27,083 | -€318,005 | ▼ 1,074% |
| Change in cash | - | €5,007 | -€482 | -€1,686 | €16,003 | -€6,612 | €28,504 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | abbreviated format | 21-11-2025 | 2025-00568941 |
| 30-09-2024 | abbreviated format | 24-02-2025 | 2025-00038115 |
| 30-09-2023 | abbreviated format | 01-03-2024 | 2024-00037394 |
| 30-09-2022 | abbreviated format | 14-03-2023 | 2023-00039197 |
| 30-09-2021 | abbreviated format | 02-03-2022 | 2022-06900183 |
| 30-09-2020 | abbreviated format | 08-04-2021 | 2021-10000028 |
| 30-09-2019 | abbreviated format | 09-03-2020 | 2020-06500091 |
| 30-09-2018 | abbreviated format | 25-02-2019 | 2019-05600455 |
| 30-09-2017 | abbreviated format | 20-03-2018 | 2018-07100464 |
| 30-09-2016 | abbreviated format | 20-03-2017 | 2017-06700232 |
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Of the 5,736 active companies whose main activity is activities of head offices (NACE 70100), figures are known for 3,654. 1,750 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.