Equity
BAAM has made a profit without a break since 2023.
BAAM has made a profit without a break since 2023.
The accounts state no turnover.
Green is investment, beige is depreciation.
In 2025, 1 person joined and 2 left.
Six of the last ten came late. The 2019 accounts came latest: 52 days after the end of the period.
The dashed line is the sector median: 0.2% across 11,230 companies (NACE 73, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro). It does better than 31% of them on solvency, 45% on liquidity, 51% on profitability and 80% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 5,053 companies had the same profile as BAAM has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BAAM itself is lower: 0.1% within 12 months. It rests on far more data about BAAM than the profile alone.
The method was tested on the 497,447 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 5,053 companies, not a prediction for BAAM. 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.
Liquidity is tight, with a current ratio of 1.3 (1.21 in 2024), below the usual 1.5. Short-term debt is 73.5% and cash 34.9% of total assets. 73.5% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 21 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| BAAM Braine-le-Château | €475,404 | €279,751 | 26.5% | 3.5 |
| YIELDOW Ottignies-Louvain-la-Neuve | €453,472 | €289,020 | 60.3% | 3 |
| SOMETHING HEALTH Wavre | €410,003 | €259,017 | 47.7% | 3 |
| ALL VISUAL COMMUNICATION Affligem | €495,454 | €315,598 | 14.2% | 4.3 |
| PUBLIMATS Mons | €386,243 | €230,635 | 9.4% | 3.6 |
| Brainmade Agency Theux | €489,399 | €186,882 | 16.5% | 2.8 |
| Kapitan Alken | €495,959 | €193,549 | 24.1% | 2.5 |
These companies have the same main activity as BAAM: advertising agencies (NACE 73110). They are comparable in size and age: total assets between €386,000 and €496,000, founded between 2003 and 2014.
BAAM files the abbreviated format. That format states no turnover. The gross margin rose from €78,295 in 2012 to €279,751 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €560,000. Estimated: probably between €380,000 and €720,000.
Higher than 35% of 2,094 companies in 2025.
Higher than 43% of 2,010 companies in 2025.
Higher than 61% of 2,053 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 1 person joined and 2 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
20/58 |
475,404 | 484,655 | 281,342 | 172,865 | 123,630 | 52,582 | 52,118 | 60,363 | 66,146 | 65,032 | 61,315 | 30,000 | 46,980 | 93,643 | |
21/28 |
22,111 | 11,532 | 14,190 | 16,018 | 15,701 | 376 | 637 | 5,356 | 10,073 | 1,875 | 3,869 | 1,903 | 8,509 | 16,710 | |
22/27 |
19,496 | 8,917 | 11,575 | 14,403 | 15,586 | 261 | 522 | 5,241 | 9,958 | 1,760 | 3,754 | 1,788 | 8,394 | 16,595 | |
23 |
- | - | - | - | - | - | - | - | - | - | - | - | 11 | 74 | |
24 |
12,159 | 316 | 1,711 | 3,276 | 3,196 | 261 | 522 | 5,241 | 9,958 | 1,760 | 3,754 | 1,788 | 8,384 | 16,521 | |
26 |
7,338 | 8,601 | 9,864 | 11,127 | 12,390 | - | - | - | - | - | - | - | - | - | |
28 |
2,615 | 2,615 | 2,615 | 1,615 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | |
29/58 |
453,293 | 473,123 | 267,152 | 156,848 | 107,928 | 52,206 | 51,481 | 55,008 | 56,073 | 63,157 | 57,446 | 28,097 | 38,471 | 76,933 | |
40/41 |
272,510 | 265,938 | 147,186 | 120,974 | 73,154 | 30,119 | 39,712 | 25,233 | 35,262 | 31,883 | 42,146 | 26,333 | 34,868 | 69,209 | |
40 |
265,411 | 258,336 | 134,950 | 97,262 | 47,117 | 17,904 | 27,506 | 21,503 | 35,246 | 31,866 | 7,114 | 2,931 | 15,306 | 24,539 | |
41 |
7,099 | 7,602 | 12,236 | 23,712 | 26,037 | 12,215 | 12,206 | 3,730 | 16 | 16 | 35,032 | 23,402 | 19,562 | 44,670 | |
54/58 |
166,050 | 195,492 | 112,764 | 29,239 | 24,976 | 20,760 | 10,200 | 28,624 | 20,811 | 31,274 | 14,402 | 800 | 2,721 | 6,924 | |
490/1 |
14,733 | 11,693 | 7,201 | 6,635 | 9,798 | 1,327 | 1,568 | 1,151 | - | - | 898 | 964 | 882 | 801 | |
| Balance sheet: equity and liabilities | |||||||||||||||
10/49 |
475,404 | 484,655 | 281,342 | 172,865 | 123,630 | 52,582 | 52,118 | 60,363 | 66,146 | 65,032 | 61,315 | 30,000 | 46,980 | 93,643 | |
10/15 |
126,048 | 90,607 | 31,793 | 30,857 | 43,983 | 22,642 | 30,315 | 35,894 | 37,070 | 40,828 | 39,161 | 19,353 | 7,339 | 8,246 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
50,000 | 50,000 | 25,593 | 31,860 | 31,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | - | - | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | - | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
133 |
50,000 | 50,000 | 25,593 | 31,860 | 30,000 | - | - | - | - | - | - | - | - | - | |
14 |
69,848 | 34,407 | - | -7,203 | 5,923 | 14,582 | 22,255 | 27,834 | 29,010 | 32,768 | 31,101 | 11,293 | -721 | 186 | |
17/49 |
349,356 | 394,048 | 249,550 | 142,009 | 79,647 | 29,940 | 21,802 | 24,470 | 29,076 | 24,204 | 22,154 | 10,647 | 39,642 | 85,397 | |
17 |
- | - | - | - | - | - | - | - | 751 | 2,183 | 3,616 | - | 3,133 | 9,169 | |
170/4 |
- | - | - | - | - | - | - | - | 751 | 2,183 | 3,616 | - | 3,133 | 9,169 | |
42/48 |
349,356 | 391,603 | 249,550 | 142,009 | 78,866 | 29,940 | 21,802 | 24,470 | 28,326 | 22,021 | 18,538 | 10,401 | 36,508 | 76,228 | |
42 |
20,502 | - | - | - | - | - | - | 751 | 1,433 | 1,433 | 1,433 | 3,133 | 6,036 | 5,741 | |
43 |
288 | 396 | 214 | - | 181 | - | - | - | - | - | - | - | 25 | 67 | |
430/8 |
288 | 396 | 214 | - | 181 | - | - | - | - | - | - | - | 25 | 67 | |
44 |
290,503 | 357,375 | 214,469 | 127,107 | 73,258 | 25,819 | 16,358 | 14,343 | 14,415 | 7,275 | 3,477 | 440 | 3,281 | 9,059 | |
440/4 |
290,503 | 357,375 | 214,469 | 127,107 | 73,258 | 25,819 | 16,358 | 14,343 | 14,415 | 7,275 | 3,477 | 440 | 3,281 | 9,059 | |
45 |
38,063 | 33,832 | 34,867 | 14,902 | 5,427 | 4,121 | 5,444 | 9,066 | 3,650 | 2,280 | 13,628 | 6,828 | 27,166 | 26,361 | |
450/3 |
15,816 | 8,971 | 9,185 | 409 | 337 | 762 | 413 | 4,253 | 3,650 | 2,280 | 13,628 | 6,828 | 27,166 | 26,361 | |
454/9 |
22,248 | 24,861 | 25,682 | 14,493 | 5,090 | 3,359 | 5,031 | 4,813 | - | - | - | - | - | - | |
47/48 |
- | - | - | - | - | - | - | 310 | 8,828 | 11,033 | - | - | - | 35,000 | |
492/3 |
- | 2,445 | - | - | 780 | - | - | - | - | - | - | 246 | - | - | |
| Income statement | |||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 210,074 | |
9900 |
279,751 | 307,295 | 166,128 | 108,776 | 79,008 | 15,398 | 42,279 | 53,337 | 48,194 | 4,607 | 28,550 | 25,544 | 19,170 | 78,295 | |
62 |
225,856 | 238,829 | 158,971 | 117,356 | 49,169 | 18,907 | 36,532 | 39,690 | 32,544 | 10,425 | - | - | - | - | |
630 |
3,751 | 2,658 | 2,827 | 2,687 | 672 | 261 | 4,719 | 4,717 | 4,717 | 1,994 | 1,634 | 7,306 | 8,480 | 15,762 | |
631/4 |
280 | -1,069 | - | - | 666 | -2,202 | 2,605 | - | - | - | - | - | 8,952 | - | |
640/8 |
1,684 | 1,684 | 1,519 | 794 | 1,405 | 3,975 | 1,209 | 1,032 | 3,886 | 702 | 818 | 747 | 392 | 1,355 | |
66A |
1,210 | - | - | - | - | - | - | - | 1,660 | - | 181 | - | 502 | 50 | |
9901 |
46,971 | 65,192 | 2,810 | -12,060 | 27,097 | -5,543 | -2,786 | 7,898 | 5,387 | -8,514 | 26,098 | 17,491 | 1,346 | 61,178 | |
75/76B |
380 | 473 | 730 | 219 | 240 | 44 | 104 | 830 | - | 2,895 | 2,156 | 1,642 | 157 | 1,400 | |
75 |
380 | 473 | 730 | 219 | 240 | 44 | 104 | 830 | - | 2,895 | 2,156 | 1,642 | 157 | 1,400 | |
65/66B |
4,764 | 2,480 | 2,318 | 1,104 | 954 | 1,849 | 2,484 | 3,149 | 779 | 613 | 465 | 1,291 | 831 | 1,933 | |
65 |
4,764 | 2,480 | 2,318 | 1,104 | 954 | 1,849 | 2,484 | 3,149 | 779 | 613 | 465 | 1,291 | 831 | 1,933 | |
9903 |
42,586 | 63,185 | 1,222 | -12,946 | 26,383 | -7,348 | -5,166 | 5,578 | 4,608 | -6,232 | 27,608 | 17,842 | 169 | 60,595 | |
67/77 |
7,145 | 4,371 | 287 | 180 | 5,042 | 325 | 413 | 6,755 | 8,366 | -7,899 | 7,800 | 5,828 | 1,076 | 23,549 | |
9904 |
35,441 | 58,815 | 936 | -13,126 | 21,341 | -7,674 | -5,578 | -1,176 | -3,758 | 1,667 | 19,808 | 12,014 | -907 | 37,046 | |
9905 |
35,441 | 58,815 | 936 | -13,126 | 21,341 | -7,674 | -5,578 | -1,176 | -3,758 | 1,667 | 19,808 | 12,014 | -907 | 37,046 | |
| Appropriation of the result | |||||||||||||||
9906 |
69,848 | 58,815 | -6,267 | -7,203 | 35,923 | 14,582 | 22,255 | 27,834 | 29,010 | 32,768 | 31,101 | 11,293 | -721 | 37,046 | |
14P |
34,407 | - | -7,203 | 5,923 | 14,582 | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | 6,267 | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | 24,407 | - | - | 30,000 | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | 24,407 | - | - | 30,000 | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 35,000 | |
694 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 35,000 | |
| Social balance sheet | |||||||||||||||
9087 |
3.5 | 4.6 | 3.5 | 2.3 | 1.5 | 1 | 1 | 1.3 | - | - | - | - | - | - | |
Hours worked1013 |
5,753 | 7,532 | 6,053 | 3,390 | 1,429 | 490 | 1,695 | 2,131 | - | - | - | - | - | - | |
| Document | |||||||||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00362857 | |
| 31-12-2024 | full format | 26-08-2025 | 2025-00404198 | |
| 31-12-2023 | full format | 22-08-2024 | 2024-00359076 | |
| 31-12-2022 | full format | 23-08-2023 | 2023-00343332 | |
| 31-12-2021 | full format | 27-07-2022 | 2022-20229177 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-57900317 | |
| 31-12-2019 | full format | 21-09-2020 | 2020-54000348 | |
| 31-12-2018 | micro format | 08-08-2019 | 2019-44100051 | |
| 31-12-2017 | full format | 31-07-2018 | 2018-41000419 | |
| 31-12-2016 | full format | 28-07-2017 | 2017-37300534 | |
| 31-12-2015 | full format | 31-08-2016 | 2016-58500518 | |
| 31-12-2014 | full format | 25-08-2015 | 2015-51000345 | |
| 31-12-2013 | full format | 25-09-2014 | 2014-60100110 | |
| 31-12-2012 | full format | 30-09-2013 | 2013-60700515 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 50,721 | 67,850 | 5,637 | -9,373 | 27,769 | -5,282 | 1,933 | 12,615 | 10,104 | -6,520 | 27,732 | 24,797 | 9,826 | 76,940 | ||
| 39,191 | 61,473 | 3,763 | -10,439 | 22,013 | -7,413 | -860 | 3,541 | 959 | 3,661 | 21,442 | 19,320 | 7,573 | 52,808 | ||
| 14,330 | 0 | 1,000 | 3,004 | 15,997 | 0 | 0 | 0 | 15,263 | -0 | 4,694 | 700 | 681 | 32,472 | ||
| -29,442 | 82,728 | 83,526 | 4,262 | 4,217 | 10,560 | -18,424 | 7,813 | -10,463 | 16,872 | 13,602 | -1,921 | -4,203 | - | ||
| 103,937 | 81,520 | 17,602 | 14,839 | 29,062 | 22,266 | 29,678 | 30,538 | 27,748 | 41,137 | 38,908 | 17,696 | 1,963 | 705 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 29.1% | ||
| 26.5% | 18.7% | 11.3% | 17.9% | 35.6% | 43.1% | 58.2% | 59.5% | 56.0% | 62.8% | 63.9% | 64.5% | 15.6% | 8.8% | ||
| 1.30 | 1.21 | 1.07 | 1.10 | 1.37 | 1.74 | 2.36 | 2.25 | 1.98 | 2.87 | 3.10 | 2.70 | 1.05 | 1.01 | ||
| 2.77 | 4.35 | 7.85 | 4.60 | 1.81 | 1.32 | 0.72 | 0.68 | 0.78 | 0.59 | 0.57 | 0.55 | 5.40 | 10.36 | ||
| 28.1% | 64.9% | 2.9% | -42.5% | 48.5% | -33.9% | -18.4% | -3.3% | -10.1% | 4.1% | 50.6% | 62.1% | -12.4% | 449.3% | ||
| 7.5% | 12.1% | 0.3% | -7.6% | 17.3% | -14.6% | -10.7% | -1.9% | -5.7% | 2.6% | 32.3% | 40.0% | -1.9% | 39.6% | ||
| 10.65 | 27.35 | 2.43 | -8.49 | 29.12 | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 43 days |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 4 | 4 | 3 | 2 |
| full-time | 3 | 4 | 4 | 3 | 2 |
| in full-time equivalents | 3 | 4 | 4 | 3 | 2 |
| 3.5 | 4.6 | 3.5 | 2.3 | 1.5 | |
| On a permanent contract | 3 | 4 | 4 | 3 | 2 |
| Joined | 1 | 1 | 1 | 1 | 2 |
| Left | 2 | 1 | 0 | 0 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Overdue tax debts | - | - | - | - | €5 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €14,330 | - | - | €1,504 | €15,997 |
| Financial fixed assets | - | - | €1,000 | €1,500 | - |
| €3,751 | €2,658 | €2,827 | €2,687 | €672 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
The operating result for 2025 is 28% lower than in 2024.
Debt's share of the balance-sheet total falls from 81.3% to 73.5%. Equity is higher and debt is lower.
BAAM has no parent and no holdings in its annual accounts. MARION Thierry is the only director. BAAM shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Place de Noucelles (W-B) 8 registered office 1440 Braine-le-Château | 18-03-2011 | 2.198.242.803 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25111B0160/00Z000 | 555 m² | 1 · 237 m² | 10.8 m · 3 |
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