BAARS
ActiveFrom the official registers: KBO 9 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
BAARS has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€135,982) and a net result of -€11,389. Equity is shrinking by about 21% per year across the filed financial years. Its solvency ranks better than 5% of 22,726 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Overview
Official details
KBO- Status
- Active since 18-08-2016 Normal situation
- Legal form
- Private limited company
- Registered office
- Eikenlei 83B, 2960 Brecht
- Activity
- Retail sale of games and toys NACE 47640and 2 others
- Establishment unit
- 2.255.786.963 2960 Brecht, since 18-08-2016
- Financial year end
- 30 June
- Peppol
- Reachable since 26-07-2024
How it is doing
- Bankruptcy probabilitywithin 12 months
- 1.4%
- Gross margin
- -€9,645
- ▲ 47.5%
- Loss
- €11,389
- ▼ 44.5%
- Equity
- -€135,982
- ▼ 9.1%
- Total assets
- €6,693
- ▼ 4.0%
Why 53raises riskCapped at 59: negative equityLoss of €11,389, the second in a row (financial year 2025)Negative equity -€135,982Sector: Retail trade (NACE 47)lowers riskSize: total assets €6,693Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 47, micro): better than 6% on solvency, 8% on liquidity, 6% on profitability and 27% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 22 days before the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 30-06-2025
- Filed on
- 01-12-2025
- Format
- micro format
- Reference
- 2025-00574146
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €11,300 in 2025 against €19,502 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: 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).
Peer companies
Historical observationOf the 6,907 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 85.5% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 6,907 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €5,100 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,581 | €6,297 | €665 | €679 | €158 | €158 | €486 | ▲ 207% |
| Other operating charges640/8 | - | - | - | €2,137 | €2,372 | €968 | €1,169 | ▲ 20.8% |
| Non-recurring operating charges66A | - | - | - | - | €354 | - | - | - |
| Gross operating margin9900 | -€19,286 | €11,612 | -€20,528 | -€4,003 | -€19,724 | -€18,376 | -€9,645 | ▲ 47.5% |
| Operating profit (loss)9901 | -€28,984 | €3,651 | -€23,496 | -€6,819 | -€22,608 | -€19,502 | -€11,300 | ▲ 42.1% |
| Financial income75/76B | - | - | - | €102 | €161 | - | - | - |
| Recurring financial income75 | €581 | €320 | €150 | €102 | €161 | - | - | - |
| Financial charges65/66B | - | - | - | €1,311 | €2,205 | €1,027 | €89 | ▼ 91.3% |
| Recurring financial charges65 | €2,605 | €1,829 | €4,612 | €1,311 | €2,205 | €1,027 | €89 | ▼ 91.3% |
| Profit (loss) for the period before taxes9903 | -€31,009 | €2,143 | -€27,958 | -€8,028 | -€24,652 | -€20,529 | -€11,389 | ▲ 44.5% |
| Profit (loss) for the period9904 | -€31,009 | €2,143 | -€27,958 | -€8,028 | -€24,652 | -€20,529 | -€11,389 | ▲ 44.5% |
| Profit (loss) for the period to be appropriated9905 | -€31,009 | €2,143 | -€27,958 | -€8,028 | -€24,652 | -€20,529 | -€11,389 | ▲ 44.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €69,474 | €68,689 | €72,989 | €85,098 | €50,149 | €6,970 | €6,693 | ▼ 4.0% |
| Fixed assets21/28 | €6,248 | €1,511 | €6,120 | €5,441 | €4,812 | €4,654 | €5,929 | ▲ 27.4% |
| Intangible fixed assets21 | €6,191 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €57 | €1,511 | €6,120 | €5,441 | €4,812 | €4,654 | €5,929 | ▲ 27.4% |
| Plant, machinery and equipment23 | - | - | - | €471 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €4,970 | €4,812 | €4,654 | €5,929 | ▲ 27.4% |
| Current assets29/58 | €63,226 | €67,178 | €66,870 | €79,657 | €45,337 | €2,316 | €764 | ▼ 67.0% |
| Stocks and contracts in progress3 | €56,746 | €59,200 | €62,725 | €71,135 | - | - | - | - |
| Stocks30/36 | - | - | - | €71,135 | - | - | - | - |
| Amounts receivable within one year40/41 | €370 | €976 | €411 | €3,323 | €11,781 | €1,470 | €55 | ▼ 96.3% |
| Trade receivables40 | - | - | - | €3,323 | €11,781 | €1,387 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €83 | €55 | ▼ 33.9% |
| Cash at bank and in hand54/58 | €5,749 | €6,905 | €3,718 | €4,953 | €33,299 | €497 | €341 | ▼ 31.4% |
| Deferred charges and accrued income490/1 | - | - | - | €246 | €257 | €350 | €368 | ▲ 5.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €69,474 | €68,689 | €72,989 | €85,098 | €50,149 | €6,970 | €6,693 | ▼ 4.0% |
| Equity10/15 | -€45,569 | -€43,426 | -€71,384 | -€79,412 | -€104,064 | -€124,593 | -€135,982 | ▼ 9.1% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€51,769 | -€49,626 | -€77,584 | -€85,612 | -€110,264 | -€130,793 | -€142,182 | ▼ 8.7% |
| Amounts payable17/49 | €115,043 | €112,115 | €144,373 | €164,509 | €154,213 | €131,563 | €142,675 | ▲ 8.4% |
| Amounts payable within one year42/48 | €115,043 | €112,115 | €144,373 | €164,509 | €154,213 | €131,563 | €142,675 | ▲ 8.4% |
| Trade debts44 | €13,650 | €3,359 | €25,296 | €17,243 | €2,983 | €2,110 | €685 | ▼ 67.5% |
| Suppliers440/4 | - | - | - | €17,243 | €2,983 | €2,110 | €685 | ▼ 67.5% |
| Taxes, remuneration and social security45 | - | - | - | €970 | €546 | - | - | - |
| Taxes450/3 | - | - | - | €970 | €546 | - | - | - |
| Other amounts payable47/48 | - | - | - | €146,296 | €150,684 | €129,453 | €141,990 | ▲ 9.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€31,009 | €2,143 | -€27,958 | -€8,028 | -€24,652 | -€20,529 | -€11,389 | ▲ 44.5% |
| + Depreciation and write-downs630 | €7,581 | €6,297 | €665 | €679 | €158 | €158 | €486 | ▲ 207% |
| Operating cash flow (approximation) | -€23,428 | €8,440 | -€27,292 | -€7,349 | -€24,494 | -€20,371 | -€10,903 | ▲ 46.5% |
| Investment in fixed assets (approximation) | - | -€1,561 | -€5,274 | -€0 | €471 | €0 | -€1,762 | - |
| Change in cash | - | €1,156 | -€3,187 | €1,235 | €28,346 | -€32,802 | -€156 | ▲ 99.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 01-12-2025 | 2025-00574146 | |
| 30-06-2024 | micro format | 20-12-2024 | 2024-00622031 | |
| 30-06-2023 | micro format | 05-01-2024 | 2024-00543718 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00009040 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03500399 | |
| 30-06-2020 | micro format | 26-01-2021 | 2021-01900466 | |
| 30-06-2019 | micro format | 10-01-2020 | 2020-00700431 | |
| 30-06-2018 | micro format | 19-12-2018 | 2018-75200123 | |
| 30-06-2017 | micro format | 12-01-2018 | 2018-01300475 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Roeland Ruelens |
|
| Pascale Schupp |
|
How the board is organised
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, 1”
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vormen vereist voor statutenwijziging, op elk moment”
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Behoudens ontbinding en vereffening in één akte, indien geen andere vereffenaar benoemd”
Articles of association, deed of 23-11-2023 (in Dutch)
Owners and capital
Capital and shareholders
- 23-11-2023 Converted to unavailable equity
- 23-11-2023 Converted to uncalled contributions · €12,400
Shares according to the articles of association
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Prijs vermeld in oorspronkelijke bekendmaking of bij betwisting door deskundige bepaald, Overdracht van aandelen”
- Share issue ruleHow and by whom new shares can be issued.
- “Voor in pand gegeven aandelen komt voorkeurrecht toe aan eigenaar-pandgever, orgaan dat overgaat tot uitgifte”
Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
Articles of association, deed of 23-11-2023 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
23-11
Gazette deed
Appointment: Roeland Ruelens (director)Resignation: Pascale Schupp (director) · Legal form clause · Capital conversion18 facts ▸
- General meeting, 03-11-2023
- Legal form clause, “statuten aanpassen aan WVV en rechtsvorm behouden, Eerste besluit–aanpassing naar BV” (deed in Dutch)
- Capital conversion, “statutaire onbeschikbare eigen vermogensrekeningen” (deed in Dutch)
- Capital conversion, “eigen vermogensrekening “niet-opgevraagde inbrengen”” (deed in Dutch)
- Reserve release, “vormen en meerderheden statutenwijziging, statutair onbeschikbare eigen vermogensrekeningen aangelegd bij toepassing artikel 39,§2,derde lid,wet van 2019-03-23” (deed in Dutch)
- Registered-office move
- Other provision, “vrijstelling voorlezing verslag bestuursorgaan bij voorwerpwijziging, Vierde besluit-Wijziging voorwerp” (deed in Dutch)
- Purpose change
- Amendment of the articles
- Capital
- Other provision, 01-01-2020, “terminologie WVV” (deed in Dutch)
- Director appointment, Roeland Ruelens (director)
- +6 further facts in this act
08-11
Gazette deed
Resignation: Pascale Schupp (director)Director discharge4 facts ▸
- General meeting, 07-09-2023
- Director resignation, Pascale Schupp (director)
- Director discharge, Pascale Schupp (director)
- Director in office, Roeland Ruelens (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- BAARS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, enkel besluit bestuursorgaan”
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of November at 19:00
Articles of association, deed of 23-11-2023 (in Dutch)
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11042A0013/00H004 | Flanders | 1,189 m² | 1 · 223 m² | 0.2 m |