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BAETEN & Co

Active
Public limited companyfounded 1992active for 34 yearsFortstraat(O) 28, 9290 Berlare, BelgiumKBO/BCE: BE 0447.081.908

Financials · financial year 2025, full format

Annual accounts 2025 filed on 03-07-2026 at the NBB all 33 filings

Turnover
€45.7m▲ 6.8%
2024 · €42.8m
EBIT margin
6.3%▼ 0.2pp
2024 · 6.5%
Net result
€2.2m▼ 8.4%
2024 · €2.4m
Working capital
€14.0m▲ 24.4%
2024 · €11.3m
Multi-year overview
2018 to 2025, 8 financial years
Turnover
€45.7m
▲ 6.8% 2025
20182025
Operating result
€2.9m
▲ 4.1% 2025
20182025
Net result
€2.2m
▼ 8.4% 2025
highest quarter of the sector
20182025
EBIT margin
6.3%
▼ 0.2pp 2025
20182025
Equity
€16.1m
▲ 15.9% 2025
highest quarter of the sector
20182025
Total assets
€19.2m
▲ 9.7% 2025
middle half of the sector
20182025
Debt
€3.1m
▼ 14.2% 2025
20182025
Working capital
€14.0m
▲ 24.4% 2025
highest quarter of the sector
20182025
Solvency
83.8%
▲ 4.5pp 2025
highest quarter of the sector
20182025
Current ratio
5.67
▲ 1.48 2025
highest quarter of the sector
20182025
Return on assets (ROA)
11.5%
▼ 2.3pp 2025
highest quarter of the sector
20182025
Staff (FTE)
13.1
▼ 4.4% 2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€21.6m-€22.2m▲ 3.1%€24.7m▲ 11.2%€38.5m▲ 55.8%€55.4m▲ 43.9%€42.9m▼ 22.5%€42.8m▼ 0.2%€45.7m▲ 6.8%
Operating result€0.3m-€0.3m▲ 9.5%€0.1m▼ 70.2%€1.1m▲ 11×€1.4m▲ 23.8%€2.2m▲ 62.3%€2.8m▲ 24.9%€2.9m▲ 4.1%
Net result€0.2m-€0.2m▲ 21.9%€0.03mwithin the sector's middle half▼ 84.6%€0.8mabove the sector's middle half▲ 24×€0.8mabove the sector's middle half▼ 0.7%€1.8mabove the sector's middle half▲ 118%€2.4mabove the sector's middle half▲ 35.5%€2.2mabove the sector's middle half▼ 8.4%
EBIT margin1.4%-1.5%▲ 0.1pp0.4%▼ 1.1pp2.9%▲ 2.5pp2.5%▼ 0.4pp5.2%▲ 2.7pp6.5%▲ 1.3pp6.3%▼ 0.2pp
Equity€8.6m-€8.9m▲ 2.6%€8.9mabove the sector's middle half▲ 0.4%€9.6mabove the sector's middle half▲ 7.9%€10.3mabove the sector's middle half▲ 7.0%€11.8mabove the sector's middle half▲ 14.9%€13.9mabove the sector's middle half▲ 17.5%€16.1mabove the sector's middle half▲ 15.9%
Total assets€12.8m-€12.4m▼ 2.9%€12.6mwithin the sector's middle half▲ 1.6%€13.8mwithin the sector's middle half▲ 9.4%€14.8mwithin the sector's middle half▲ 7.4%€15.7mwithin the sector's middle half▲ 5.6%€17.5mwithin the sector's middle half▲ 11.8%€19.2mwithin the sector's middle half▲ 9.7%
Debt€4.1m-€3.5m▼ 14.5%€3.7m▲ 4.8%€4.2m▲ 13.1%€4.5m▲ 8.2%€3.8m▼ 15.6%€3.6m▼ 5.6%€3.1m▼ 14.2%
Working capital€3.4m-€4.1m▲ 19.8%€4.3mabove the sector's middle half▲ 5.9%€5.1mabove the sector's middle half▲ 18.1%€6.3mabove the sector's middle half▲ 23.6%€8.8mabove the sector's middle half▲ 39.8%€11.3mabove the sector's middle half▲ 27.5%€14.0mabove the sector's middle half▲ 24.4%
Solvency67.6%-71.4%▲ 3.9pp70.6%above the sector's middle half▼ 0.9pp69.6%above the sector's middle half▼ 1.0pp69.3%above the sector's middle half▼ 0.2pp75.5%above the sector's middle half▲ 6.1pp79.3%above the sector's middle half▲ 3.8pp83.8%above the sector's middle half▲ 4.5pp
Current ratio2.52-2.92▲ 0.412.57above the sector's middle half▼ 0.362.37above the sector's middle half▼ 0.192.42above the sector's middle half▲ 0.053.36above the sector's middle half▲ 0.944.19above the sector's middle half▲ 0.835.67above the sector's middle half▲ 1.48
Return on assets (ROA)1.4%-1.8%▲ 0.4pp0.3%within the sector's middle half▼ 1.5pp6.0%within the sector's middle half▲ 5.7pp5.5%within the sector's middle half▼ 0.4pp11.4%above the sector's middle half▲ 5.9pp13.8%above the sector's middle half▲ 2.4pp11.5%above the sector's middle half▼ 2.3pp
Staff (FTE)12.2-13.1▲ 7.4%13.3within the sector's middle half▲ 1.5%14.1within the sector's middle half▲ 6.0%13.5within the sector's middle half▼ 4.3%13.8within the sector's middle half▲ 2.2%13.7within the sector's middle half▼ 0.7%13.1within the sector's middle half▼ 4.4%
above within below The sector band is the middle half of the companies in Manufacture of food products (NACE 10). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2025 is 4% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.

Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €19.2m
Fixed assets €2.2m ▼ 19.2%
Current assets €17.0m ▲ 15.0%
Equity and liabilities €19.2m
Equity €16.1m ▲ 15.9%
Debt €3.1m ▼ 14.2%
Debt's share of the balance-sheet total falls from 20.7% to 16.2%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€3.6m▼
2024 · €3.8m
Cash flow
€2.9m▼
2024 · €3.4m
Quick ratio
4.58▲
2024 · 3.57
Debt to equity
0.19▼
2024 · 0.26
ROE
13.7%▼
2024 · 17.4%
Interest coverage
over 100
Debt ≤ 1 year
€3.0m▼
2024 · €3.5m
Income taxes
€708,231▲
2024 · €694,554
Customer credit
29 days▼
2024 · 30 days
Supplier credit
24 days▼
2024 · 27 days
Staff costs
€1.2m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date1615161417
full-time1111121111
part-time54436
in full-time equivalents13.71314.612.815.4
Average over the year, in full-time equivalents14.113.513.813.713.1
On a permanent contract1615161417
Joined14212111510026
Left14212211410223
Agency workers, average number10.61.20.50.3
Training hours488161650

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€722,945€294,153€173,523€546,013€144,510
Intangible fixed assets--€34,731€76,661€62,019
Depreciation and write-downs of the year€1.3m€1.2m€1.2m€998,611€717,506

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees

The auditor is CALLENS VANDELANOTTE.

Item20212022202320242025
Fee for the audit€5,000€7,025€7,025€7,383€7,678
Work by persons linked to the auditor€9,105€2,695€2,190€915€637

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Subsidies and aid

Flemish government

2022 to 2025 · 5 entries · €12,646 awarded · €11,925 paid
Year Entries AwardedPaid
2025 1 €3,525€2,332
2024 1 €147€2,046
2023 1 €2,269€1,770
2022 2 €6,705€5,777
Schemes
4 entries · €9,646 · €8,925 paid · Fonds voor Innoveren en Ondernemen
1 entry · €3,000 · €3,000 paid · Departement Mobiliteit en Openbare Werken
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 82 lines
Balance sheet Code20242025
Assets
Total assets20/58€17.5m€19.2m▲
Fixed assets21/28€2.7m€2.2m▼
Intangible fixed assets21€0.1m€0.1m▲
Tangible fixed assets22/27€2.6m€2.0m▼
Land and buildings22€1.4m€1.3m▼
Plant, machinery and equipment23€1.0m€0.5m▼
Furniture and vehicles24€0.3m€0.2m▼
Assets under construction and advance payments27-€0.007m
Financial fixed assets28€0.007m€0.002m▼
Other financial fixed assets284/8€0.007m€0.002m▼
Amounts receivable and cash guarantees285/8€0.007m€0.002m▼
Current assets29/58€14.8m€17.0m▲
Stocks and contracts in progress3€2.2m€3.3m▲
Stocks30/36€2.2m€3.3m▲
Raw materials and consumables30/31€1.7m€2.3m▲
Finished goods33€0.5m€1.0m▲
Amounts receivable within one year40/41€3.5m€3.7m▲
Trade receivables40€3.5m€3.7m▲
Other amounts receivable41€0.005m€0.03m▲
Current investments50/53€2.4m€4.9m▲
Other investments51/53€2.4m€4.9m▲
Cash at bank and in hand54/58€6.7m€5.1m▼
Deferred charges and accrued income490/1€0.04m€0.03m▼
Equity and liabilities
Total equity and liabilities10/49€17.5m€19.2m▲
Equity10/15€13.9m€16.1m▲
Contributions10/11€1.8m€1.8m=
Capital10€1.8m€1.8m=
Issued capital100€1.8m€1.8m=
Reserves13€12.1m€14.3m▲
Non-distributable reserves130/1€0.2m€0.2m=
Legal reserve130€0.2m€0.2m=
Tax-exempt reserves132€1.2m€1.7m▲
Distributable reserves133€10.7m€12.4m▲
Profit (loss) carried forward14€0.03m€0.04m▲
Amounts payable17/49€3.6m€3.1m▼
Amounts payable within one year42/48€3.5m€3.0m▼
Trade debts44€2.6m€2.6m▲
Suppliers440/4€2.6m€2.6m▲
Taxes, remuneration and social security45€0.5m€0.3m▼
Taxes450/3€0.3m€0.1m▼
Remuneration and social security454/9€0.2m€0.1m▼
Other amounts payable47/48€0.5m€0.2m▼
Accrued charges and deferred income492/3€0.09m€0.1m▲
Income statement Code20242025
Operating income70/76A€42.7m€46.4m▲
Turnover70€42.8m€45.7m▲
Change in stocks of work in progress, finished goods and contracts in progress71-€0.2m€0.5m▲
Other operating income74€0.08m€0.1m▲
Non-recurring operating income76A€0€0.02m▲
Operating charges60/66A€39.9m€43.5m▲
Goods for resale, raw materials and consumables60€35.0m€38.4m▲
Purchases600/8€35.3m€38.9m▲
Change in stocks: decrease (increase)609-€0.3m-€0.6m▼
Services and other goods61€2.8m€3.2m▲
Remuneration, social security and pensions62€1.1m€1.2m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.0m€0.7m▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€0.04m-€0.006m▲
Other operating charges640/8€0.05m€0.06m▲
Non-recurring operating charges66A€0-
Operating profit (loss)9901€2.8m€2.9m▲
Financial income75/76B€0.4m€0.2m▼
Recurring financial income75€0.4m€0.2m▼
Income from current assets751€0.1m€0.2m▲
Other financial income752/9€0.3m€0.003m▼
Financial charges65/66B€0.08m€0.2m▲
Recurring financial charges65€0.08m€0.2m▲
Debt charges650€0€55▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€0.02m€0.03m▲
Other financial charges652/9€0.06m€0.1m▲
Profit (loss) for the period before taxes9903€3.1m€2.9m▼
Income taxes67/77€0.7m€0.7m▲
Taxes670/3€0.7m€0.7m=
Tax adjustments and reversals of tax provisions77€0.01m€0▼
Profit (loss) for the period9904€2.4m€2.2m▼
Transfer to tax-exempt reserves689€0.5m€0.5m=
Profit (loss) for the period to be appropriated9905€1.9m€1.7m▼
Appropriation of the result
Profit (loss) to be appropriated9906€10.5m€1.7m▼
Profit (loss) brought forward from the previous period14P€8.6m€0.03m▼
Transfer to equity691/2€10.1m€1.7m▼
To other reserves6921€10.1m€1.7m▼
Profit to be distributed694/7€0.4m€0▼
Return on contributions (dividend)694€0.4m€0▼
Social balance sheet
Average headcount (FTE)908713.713.1▼

The notes to these accounts have 70 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 03-07-2026.

Line20182019202020212022202320242025Change
Operating income70/76A---€38.8m€55.8m€42.6m€42.7m€46.4m▲ 8.6%
Turnover70€21.6m€22.2m€24.7m€38.5m€55.4m€42.9m€42.8m€45.7m▲ 6.8%
Change in stocks of work in progress, finished goods and contracts in progress71---€0.2m€0.3m-€0.4m-€0.2m€0.5m-
Other operating income74---€0.1m€0.1m€0.08m€0.08m€0.1m▲ 23.0%
Non-recurring operating income76A---€0€0.02m€0.009m€0€0.02m-
Operating charges60/66A---€37.7m€54.4m€40.4m€39.9m€43.5m▲ 8.9%
Goods for resale, raw materials and consumables60---€33.2m€49.5m€35.5m€35.0m€38.4m▲ 9.6%
Purchases600/8---€33.8m€50.5m€34.7m€35.3m€38.9m▲ 10.3%
Change in stocks: decrease (increase)609----€0.6m-€1.0m€0.8m-€0.3m-€0.6m▼ 96.8%
Services and other goods61---€2.3m€2.7m€2.7m€2.8m€3.2m▲ 12.1%
Remuneration, social security and pensions62---€0.9m€0.9m€1.0m€1.1m€1.2m▲ 7.7%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.6m€1.5m€1.3m€1.3m€1.2m€1.2m€1.0m€0.7m▼ 28.1%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€0.001m€0.07m-€0.02m-€0.04m-€0.006m▲ 86.6%
Provisions for liabilities and charges: additions (uses and reversals)635/8----€0.001m€0----
Other operating charges640/8---€0.04m€0.04m€0.05m€0.05m€0.06m▲ 19.8%
Non-recurring operating charges66A---€0-€0.01m€0--
Operating profit (loss)9901€0.3m€0.3m€0.1m€1.1m€1.4m€2.2m€2.8m€2.9m▲ 4.1%
Financial income75/76B---€0.06m€0.02m€0.04m€0.4m€0.2m▼ 53.4%
Recurring financial income75€0.002m€0.02m€0.001m€0.06m€0.02m€0.04m€0.4m€0.2m▼ 53.4%
Income from current assets751---€0€0.01m€0.02m€0.1m€0.2m▲ 87.5%
Other financial income752/9---€0.06m€0.008m€0.01m€0.3m€0.003m▼ 99.0%
Financial charges65/66B---€0.06m€0.2m-€0.06m€0.08m€0.2m▲ 106%
Recurring financial charges65€0.05m€0.03m€0.05m€0.06m€0.2m-€0.06m€0.08m€0.2m▲ 106%
Debt charges650€0.04m€0.03m€0.02m€0.02m€0.01m€0.003m€0€55-
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651----€0.1m-€0.1m€0.02m€0.03m▲ 38.6%
Other financial charges652/9---€0.05m€0.08m€0.06m€0.06m€0.1m▲ 134%
Profit (loss) for the period before taxes9903€0.3m€0.3m€0.05m€1.1m€1.2m€2.3m€3.1m€2.9m▼ 6.1%
Income taxes67/77€0.07m€0.1m€0.02m€0.3m€0.4m€0.5m€0.7m€0.7m▲ 2.0%
Taxes670/3---€0.3m€0.4m€0.6m€0.7m€0.7m=
Tax adjustments and reversals of tax provisions77---€308€0€0.02m€0.01m€0▼ 100%
Profit (loss) for the period9904€0.2m€0.2m€0.03m€0.8m€0.8m€1.8m€2.4m€2.2m▼ 8.4%
Transfer to tax-exempt reserves689----€0.2m€0.4m€0.5m€0.5m=
Profit (loss) for the period to be appropriated9905€0.2m€0.2m€0.03m€0.8m€0.6m€1.4m€1.9m€1.7m▼ 10.6%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€12.8m€12.4m€12.6m€13.8m€14.8m€15.7m€17.5m€19.2m▲ 9.7%
Fixed assets21/28€7.1m€6.2m€5.5m€5.0m€4.1m€3.1m€2.7m€2.2m▼ 19.2%
Intangible fixed assets21-----€0.03m€0.1m€0.1m▲ 39.1%
Tangible fixed assets22/27€7.1m€6.2m€5.5m€5.0m€4.1m€3.0m€2.6m€2.0m▼ 21.2%
Land and buildings22---€1.3m€1.2m€1.1m€1.4m€1.3m▼ 6.9%
Plant, machinery and equipment23---€3.4m€2.5m€1.6m€1.0m€0.5m▼ 44.1%
Furniture and vehicles24---€0.2m€0.3m€0.2m€0.3m€0.2m▼ 12.8%
Assets under construction and advance payments27-------€0.007m-
Financial fixed assets28€0.001m€0.003m€0.003m€0.003m€0.007m€0.007m€0.007m€0.002m▼ 75.2%
Other financial fixed assets284/8---€0.003m€0.007m€0.007m€0.007m€0.002m▼ 75.2%
Amounts receivable and cash guarantees285/8---€0.003m€0.007m€0.007m€0.007m€0.002m▼ 75.2%
Current assets29/58€5.7m€6.2m€7.1m€8.8m€10.8m€12.6m€14.8m€17.0m▲ 15.0%
Stocks and contracts in progress3€1.4m€1.4m€1.1m€1.9m€3.2m€2.0m€2.2m€3.3m▲ 50.4%
Stocks30/36---€1.9m€3.2m€2.0m€2.2m€3.3m▲ 50.4%
Raw materials and consumables30/31---€1.2m€2.2m€1.4m€1.7m€2.3m▲ 33.2%
Finished goods33---€0.7m€1.1m€0.7m€0.5m€1.0m▲ 109%
Amounts receivable within one year40/41€1.7m€1.9m€2.9m€3.8m€3.9m€3.6m€3.5m€3.7m▲ 5.4%
Trade receivables40---€3.7m€3.9m€3.6m€3.5m€3.7m▲ 4.8%
Other amounts receivable41---€0.1m€0.005m€0.005m€0.005m€0.03m▲ 425%
Current investments50/53---€0.5m€0.8m€1.5m€2.4m€4.9m▲ 108%
Other investments51/53---€0.5m€0.8m€1.5m€2.4m€4.9m▲ 108%
Cash at bank and in hand54/58€2.6m€2.9m€3.1m€2.6m€2.8m€5.5m€6.7m€5.1m▼ 23.7%
Deferred charges and accrued income490/1---€0.006m€0.02m€0.02m€0.04m€0.03m▼ 35.4%
Equity and liabilities
Total equity and liabilities10/49€12.8m€12.4m€12.6m€13.8m€14.8m€15.7m€17.5m€19.2m▲ 9.7%
Equity10/15€8.6m€8.9m€8.9m€9.6m€10.3m€11.8m€13.9m€16.1m▲ 15.9%
Contributions10/11€1.8m€1.8m€1.8m€1.8m€1.8m€1.8m€1.8m€1.8m=
Capital10---€1.8m€1.8m€1.8m€1.8m€1.8m=
Issued capital100---€1.8m€1.8m€1.8m€1.8m€1.8m=
Reserves13€0.8m€0.8m€0.8m€0.8m€1.0m€1.4m€12.1m€14.3m▲ 18.3%
Non-distributable reserves130/1---€0.2m€0.2m€0.2m€0.2m€0.2m=
Legal reserve130---€0.2m€0.2m€0.2m€0.2m€0.2m=
Tax-exempt reserves132---€0.03m€0.2m€0.7m€1.2m€1.7m▲ 43.2%
Distributable reserves133---€0.6m€0.6m€0.6m€10.7m€12.4m▲ 15.9%
Profit (loss) carried forward14€6.1m€6.3m€6.3m€7.0m€7.5m€8.6m€0.03m€0.04m▲ 22.6%
Provisions and deferred taxes16€0.007m€0.004m€0.001m€0-----
Provisions for liabilities and charges160/5---€0-----
Pensions and similar obligations160---€0-----
Amounts payable17/49€4.1m€3.5m€3.7m€4.2m€4.5m€3.8m€3.6m€3.1m▼ 14.2%
Amounts payable after more than one year17€1.9m€1.4m€0.9m€0.5m€0----
Financial debts170/4---€0.5m€0----
Credit institutions173---€0.5m€0----
Amounts payable within one year42/48€2.3m€2.1m€2.8m€3.7m€4.5m€3.7m€3.5m€3.0m▼ 15.1%
Current portion of amounts payable after more than one year42---€0.5m€0.4m€0---
Trade debts44€1.6m€1.4m€2.1m€2.9m€3.5m€3.0m€2.6m€2.6m▲ 0.4%
Suppliers440/4---€2.9m€3.5m€3.0m€2.6m€2.6m▲ 0.4%
Taxes, remuneration and social security45---€0.2m€0.3m€0.5m€0.5m€0.3m▼ 42.5%
Taxes450/3---€0.06m€0.1m€0.3m€0.3m€0.1m▼ 58.2%
Remuneration and social security454/9---€0.1m€0.1m€0.1m€0.2m€0.1m▼ 13.1%
Other amounts payable47/48---€0.2m€0.2m€0.3m€0.5m€0.2m▼ 66.9%
Accrued charges and deferred income492/3---€0.007m€0.1m€0.09m€0.09m€0.1m▲ 24.5%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.2m€0.2m€0.03m€0.8m€0.8m€1.8m€2.4m€2.2m▼ 8.4%
+ Depreciation and write-downs630€1.6m€1.5m€1.3m€1.3m€1.2m€1.2m€1.0m€0.7m▼ 28.1%
Operating cash flow (approximation)€1.8m€1.7m€1.4m€2.1m€2.0m€3.0m€3.4m€2.9m▼ 14.1%
Investment in fixed assets (approximation)--€0.6m-€0.6m-€0.7m-€0.3m-€0.2m-€0.6m-€0.2m▲ 67.7%
Change in cash-€0.3m€0.1m-€0.5m€0.2m€2.7m€1.2m-€1.6m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 20,136 companies had the same profile as BAETEN & Co has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
95.0% was still going
4.7% stopped otherwise
0.2% went bankrupt

That fits the bankruptcy probability of BAETEN & Co itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,446 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 20,136 companies, not a prediction for BAETEN & Co. 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.

Latest 10 of 33 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 03-07-2026 2026-00246326 PDF
31-12-2024 full format 15-07-2025 2025-00268654 PDF
31-12-2023 full format 24-07-2024 2024-00276062 PDF
31-12-2022 full format 22-05-2023 2023-00090627 PDF
31-12-2021 full format 12-07-2022 2022-20174342 PDF
31-12-2020 full format 02-07-2021 2021-30400379 PDF
31-12-2019 full format 17-07-2020 2020-31600164 PDF
31-12-2018 full format 05-07-2019 2019-29700237 PDF
31-12-2017 full format 06-07-2018 2018-30100555 PDF
31-12-2016 full format 14-07-2017 2017-32100023 PDF

Show all 33 filings

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