BAGERAN
ActiveSummary
BAGERAN has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.9m and a net result of €11,191. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 95% of 89 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €240,000 at 30 days acceptable
short-term debt: 0.2% and cash: 6% of total assets, and 0.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 02
Relative position
BE, all sectors
reference
Forestry and logging (NACE 02)
about 55% fewer 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
99.8%
Return on assets
0.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
6 d late
2024
38 d early
2023
42 d late
2022
39 d late
2021
52 d late
2020
2 d early
2019
64 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 5 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% 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 8 September (4 of the last 5 filed years within 33 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#4 company by equity in the province of Antwerp, Forestry sector#6 oldest company in the province of Antwerp, Forestry sector#8 company by total assets in the province of Antwerp, Forestry sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€11,191▼ 65.7%
2024 · €32,596
Working capital
€897,545▲ 3.3%
2024 · €868,718
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 02, Forestry and logging, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€39,599▼ 93.8%€18,029▼ 54.5%€96,889▲ 437%€24,335▼ 74.9%€2,151▼ 91.2%
Net result€29,107within the sector's middle half▼ 94.0%€8,724within the sector's middle half▼ 70.0%€72,296within the sector's middle half▲ 729%€32,596within the sector's middle half▼ 54.9%€11,191within the sector's middle half▼ 65.7%
Equity€2.8mabove the sector's middle half▲ 1.1%€2.8mabove the sector's middle half▲ 0.3%€2.9mabove the sector's middle half▲ 2.5%€2.9mabove the sector's middle half▲ 1.1%€2.9mabove the sector's middle half▲ 0.4%
Total assets€2.9mwithin the sector's middle half▲ 0.6%€2.9mwithin the sector's middle half▼ 0.7%€3.0mwithin the sector's middle half▲ 1.9%€2.9mwithin the sector's middle half▼ 2.2%€2.9mwithin the sector's middle half▲ 0.5%
Debt€5,240▼ 26.5%€5,348▲ 2.1%€5,772▲ 7.9%€1,826▼ 68.4%€4,748▲ 160%
Working capital€422,800within the sector's middle half▲ 2.6%€438,685within the sector's middle half▲ 3.8%€895,319above the sector's middle half▲ 104%€868,718above the sector's middle half▼ 3.0%€897,545above the sector's middle half▲ 3.3%
Solvency95.0%above the sector's middle half▲ 0.5pp96.0%above the sector's middle half▲ 1.0pp96.6%above the sector's middle half▲ 0.6pp99.9%above the sector's middle half▲ 3.3pp99.8%above the sector's middle half▼ 0.1pp
Current ratio81.69above the sector's middle half▲ 22.8983.04above the sector's middle half▲ 1.35
Return on assets (ROA)1.0%within the sector's middle half▼ 15.6pp0.3%below the sector's middle half▼ 0.7pp2.4%within the sector's middle half▲ 2.1pp1.1%within the sector's middle half▼ 1.3pp0.4%within the sector's middle half▼ 0.7pp
above
within
below
the middle half (P25 to P75) of NACE 02, Forestry and logging, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2021 Net result -94% on 2020. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 91% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€2.0m ▼ 0.9%
Current assets
€902,293 ▲ 3.6%
Equity and liabilities €2.9m
Equity
€2.9m ▲ 0.4%
Debt
€4,748 ▲ 160%
Debt's share of the balance-sheet total rises from 0.1% to 0.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€46,409▼
2024 · €74,846
Cash flow
€55,449▼
2024 · €83,108
Debt to equity
0.00▲
2024 · 0.00
ROE
0.4%▼
2024 · 1.1%
Interest coverage
779.19▲
2024 · 276.88
Debt ≤ 1 year
€4,748▲
2024 · €1,826
Income taxes
€3,864▼
2024 · €100,556
A ratio outside any meaningful range has been withheld (balance sheet total €2.9m, equity €2.9m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,340 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% | 1.0% |
| 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% 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 14,732 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €66,587 | €68,629 | €50,512 | €50,512 | €44,258 | ▼ 12.4% |
| Other operating charges640/8 | €14,424 | €12,660 | €10,452 | €12,294 | €14,564 | ▲ 18.5% |
| Gross operating margin9900 | €120,609 | €99,317 | €157,852 | €87,141 | €60,972 | ▼ 30.0% |
| Operating profit (loss)9901 | €39,599 | €18,029 | €96,889 | €24,335 | €2,151 | ▼ 91.2% |
| Financial income75/76B | - | €1 | €2 | €14,181 | €12,963 | ▼ 8.6% |
| Recurring financial income75 | - | €1 | €2 | €14,181 | €12,963 | ▼ 8.6% |
| Financial charges65/66B | €97 | €28 | €15 | €270 | €60 | ▼ 78.0% |
| Recurring financial charges65 | €97 | €28 | €15 | €270 | €60 | ▼ 78.0% |
| Profit (loss) for the period before taxes9903 | €39,502 | €18,001 | €96,876 | €38,246 | €15,055 | ▼ 60.6% |
| Transfer from deferred taxes780 | €10,838 | €30,838 | €16,089 | €94,907 | - | - |
| Income taxes67/77 | €21,233 | €40,115 | €40,669 | €100,556 | €3,864 | ▼ 96.2% |
| Profit (loss) for the period9904 | €29,107 | €8,724 | €72,296 | €32,596 | €11,191 | ▼ 65.7% |
| Transfer from tax-exempt reserves789 | €32,514 | €112,514 | €48,267 | €264,720 | - | - |
| Profit (loss) for the period to be appropriated9905 | €61,621 | €121,238 | €120,563 | €297,316 | €11,191 | ▼ 96.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.9m | €2.9m | €3.0m | €2.9m | €2.9m | ▲ 0.5% |
| Fixed assets21/28 | €2.5m | €2.5m | €2.1m | €2.0m | €2.0m | ▼ 0.9% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €2.5m | €2.5m | €2.1m | €2.0m | €2.0m | ▼ 0.9% |
| Land and buildings22 | €2.4m | €2.4m | €2.0m | €2.0m | €2.0m | ▲ 0.1% |
| Plant, machinery and equipment23 | €47,505 | €47,879 | €9,407 | €8,357 | €6,494 | ▼ 22.3% |
| Furniture and vehicles24 | €91,036 | €66,680 | €42,323 | €17,967 | - | - |
| Current assets29/58 | €428,040 | €444,033 | €901,091 | €870,544 | €902,293 | ▲ 3.6% |
| Amounts receivable within one year40/41 | €40,106 | €20,421 | €95,044 | €126,257 | €118,131 | ▼ 6.4% |
| Trade receivables40 | €28,760 | €0 | €7,738 | - | €11,914 | - |
| Other amounts receivable41 | €11,346 | €20,421 | €87,306 | €126,257 | €106,217 | ▼ 15.9% |
| Current investments50/53 | - | - | €500,000 | €600,000 | €609,072 | ▲ 1.5% |
| Cash at bank and in hand54/58 | €386,319 | €413,024 | €301,144 | €142,514 | €173,631 | ▲ 21.8% |
| Deferred charges and accrued income490/1 | €1,615 | €10,588 | €4,903 | €1,773 | €1,459 | ▼ 17.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.9m | €2.9m | €3.0m | €2.9m | €2.9m | ▲ 0.5% |
| Equity10/15 | €2.8m | €2.8m | €2.9m | €2.9m | €2.9m | ▲ 0.4% |
| Contributions10/11 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Capital10 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Issued capital100 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €1.2m | €1.1m | €1.1m | €809,690 | €809,690 | = |
| Non-distributable reserves130/1 | €130,890 | €130,890 | €130,890 | €130,890 | €130,890 | = |
| Legal reserve130 | €130,890 | €130,890 | €130,890 | €130,890 | €130,890 | = |
| Tax-exempt reserves132 | €425,501 | €312,987 | €264,720 | €0 | - | - |
| Distributable reserves133 | €678,800 | €678,800 | €678,800 | €678,800 | €678,800 | = |
| Profit (loss) carried forward14 | €244,586 | €365,824 | €483,994 | €781,310 | €792,501 | ▲ 1.4% |
| Provisions and deferred taxes16 | €141,834 | €110,996 | €94,907 | €0 | - | - |
| Deferred taxes168 | €141,834 | €110,996 | €94,907 | €0 | - | - |
| Amounts payable17/49 | €5,240 | €5,348 | €5,772 | €1,826 | €4,748 | ▲ 160% |
| Amounts payable within one year42/48 | €5,240 | €5,348 | €5,772 | €1,826 | €4,748 | ▲ 160% |
| Trade debts44 | €5,240 | €3,861 | €5,072 | €330 | €4,131 | ▲ 1,152% |
| Suppliers440/4 | €5,240 | €3,861 | €5,072 | €330 | €4,131 | ▲ 1,152% |
| Taxes, remuneration and social security45 | - | €1,487 | - | €1,496 | €618 | ▼ 58.7% |
| Taxes450/3 | - | €1,487 | - | €1,496 | €618 | ▼ 58.7% |
| Other amounts payable47/48 | - | - | €700 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,107 | €8,724 | €72,296 | €32,596 | €11,191 | ▼ 65.7% |
| + Depreciation and write-downs630 | €66,587 | €68,629 | €50,512 | €50,512 | €44,258 | ▼ 12.4% |
| Operating cash flow (approximation) | €95,694 | €77,352 | €122,807 | €83,108 | €55,449 | ▼ 33.3% |
| Investment in fixed assets (approximation) | - | -€30,629 | €352,307 | -€14,802 | -€26,622 | ▼ 79.9% |
| Change in cash | - | €26,705 | -€111,880 | -€158,630 | €31,117 | ▲ 120% |
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
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 6 days late
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity triplescurrent ratio 476.73
Current ratio from 156.11 to 476.73; short-term debt falls from €5,772 to €1,826.
11-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 42 days late
2023
08-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 39 days late
2022
31-12
Financial
Weakest financial yearnet €8,724 ▼70%
Net result drops to €8,724, the lowest in the series; recovery starts the following year.
21-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 52 days late
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €484,356 ▲3,084%
Operating result €636,476, net result €484,356, both a record.
31-12
Financial
Liquidity times 15current ratio 58.80
Current ratio from 3.84 to 58.80; short-term debt falls from €42,403 to €7,127.
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Kontich · 1 establishment unit since 1992
Ground area
234 m²
Building footprint
234 m²
Volume, LiDAR
1,171 m³
Parcel 11024G0228/00E000, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Keizershoek 257, 2550 Kontich
since 19922.057.141.554
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11024G0228/00E000 | Flanders | 234 m² | 1 · 234 m² | 6.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKontich
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Of 294 companies in sector 02400 we hold annual accounts for 77. 36 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded27-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
02400Forestry and logging
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446985403
Also
9925:BE0446985403
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.