Bagio
ActiveSummary
Bagio has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12.01M and a net result of €3.45M. Equity is growing by ~53.2% per year across the filed fiscal years. Its solvency ranks better than 32% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▼-24
Solvency45▲+5
Growth80▲+2
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €650k at 30 days acceptable
Liquidity ample (current ratio 1.8 against 2.81 in 2024; short-term debt: 52.6% and cash: 4% of total assets), but 80.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
19.7%
Return on assets
5.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-07-2026, 15 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
15 d early
2024
51 d early
2023
42 d early
2022
on the day
2021
40 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€54.50M▲ 15.9%
2024 · €47.01M
2024: €47.01M
2025: €54.50M▲ +15.9% vs 2024
2024 → 2025
EBIT margin
13.0%▼ 4.7pp
2024 · 17.7%
2024: 17.7%
2025: 13.0%▼ -26.6% vs 2024
2024 → 2025
Net result
€3.45M▼ 39.7%
2024 · €5.73M
2021: €932klowest in 5 years
2022: €1.40M▲ +49.8% vs 2021
2023: €7.10M▲ +409% vs 2022highest in 5 years
2024: €5.73M▼ -19.4% vs 2023
2025: €3.45M▼ -39.7% vs 2024
2021 → 2025
Working capital
€25.53M▼ 53.6%
2024 · €55.00M
2021: €695klowest in 5 years
2022: €1.62M▲ +133% vs 2021
2023: €9.97M▲ +516% vs 2022
2024: €55.00M▲ +452% vs 2023highest in 5 years
2025: €25.53M▼ -53.6% vs 2024
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€47.01M€54.50M▲ 15.9%
2024: €47.01M
2025: €54.50M▲ +15.9% vs 2024
Equity€2k-€2k=€7.10M▲ 355,115%€12.83M▲ 80.6%€12.01M▼ 6.4%
2021: €2klowest in 5 years
2022: €2k● 0.0% vs 2021lowest in 5 years
2023: €7.10M▲ +355115% vs 2022
2024: €12.83M▲ +80.6% vs 2023highest in 5 years
2025: €12.01M▼ -6.4% vs 2024
Operating result€1.50M-€2.10M▲ 39.7%€9.16M▲ 337%€8.32M▼ 9.1%€7.08M▼ 14.9%
2021: €1.50Mlowest in 5 years
2022: €2.10M▲ +39.7% vs 2021
2023: €9.16M▲ +337% vs 2022highest in 5 years
2024: €8.32M▼ -9.1% vs 2023
2025: €7.08M▼ -14.9% vs 2024
Net result€932k-€1.40M▲ 49.8%€7.10M▲ 409%€5.73M▼ 19.4%€3.45M▼ 39.7%
2021: €932klowest in 5 years
2022: €1.40M▲ +49.8% vs 2021
2023: €7.10M▲ +409% vs 2022highest in 5 years
2024: €5.73M▼ -19.4% vs 2023
2025: €3.45M▼ -39.7% vs 2024
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €61.08M
Fixed assets
€3.44M ▲ 5,597%
Current assets
€57.64M ▼ 32.5%
Equity and liabilities €61.08M
Equity
€12.01M ▼ 6.4%
Debt
€49.07M ▼ 32.4%
Debt's share of the balance-sheet total falls from 85.0% to 80.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€7.10M▼
2024 · €8.33M
Cash flow
€3.47M▼
2024 · €5.73M
Current ratio
1.80▼
2024 · 2.81
Quick ratio
0.19▲
2024 · 0.07
Debt to equity
4.09▼
2024 · 5.66
ROE
28.8%▼
2024 · 44.6%
ROA
5.7%▼
2024 · 6.7%
Interest coverage
3.11▼
2024 · 10.43
Debt ≤ 1 year
€32.10M▲
2024 · €30.40M
Debt > 1 year
€16.97M▼
2024 · €42.22M
Income taxes
€1.28M▼
2024 · €2.15M
Staff costs
€5k▼
2024 · €72k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 73 lines
Balance sheet
Code20242025
Assets
Total assets20/58€85.46M€61.08M▼
Fixed assets21/28€60k€3.44M▲
Tangible fixed assets22/27€60k€68k▲
Plant, machinery and equipment23€220€3k▲
Furniture and vehicles24€35k€40k▲
Other tangible fixed assets26€25k€25k=
Financial fixed assets28-€3.38M
Affiliated companies280/1-€3.38M
Participating interests280-€3.38M
Current assets29/58€85.40M€57.64M▼
Stocks and contracts in progress3€83.12M€51.57M▼
Stocks30/36€83.12M€51.57M▼
Property held for sale35€83.12M€51.57M▼
Amounts receivable within one year40/41€1.98M€3.58M▲
Trade receivables40€8k€846k▲
Other amounts receivable41€1.97M€2.73M▲
Cash at bank and in hand54/58€290k€2.44M▲
Deferred charges and accrued income490/1€5k€54k▲
Equity and liabilities
Total equity and liabilities10/49€85.46M€61.08M▼
Equity10/15€12.83M€12.01M▼
Contributions10/11€2k€1k▼
Reserves13€12.83M€12.01M▼
Distributable reserves133€12.83M€12.01M▼
Amounts payable17/49€72.63M€49.07M▼
Amounts payable after more than one year17€42.22M€16.97M▼
Financial debts170/4€42.22M€16.97M▼
Subordinated loans170€2.66M€0▼
Credit institutions173€39.55M€16.97M▼
Amounts payable within one year42/48€30.40M€32.10M▲
Current portion of amounts payable after more than one year42€22.88M€26.81M▲
Financial debts43€2.25M€0▼
Credit institutions430/8€2.25M€0▼
Trade debts44€42k€347k▲
Suppliers440/4€42k€347k▲
Taxes, remuneration and social security45€2.27M€3.52M▲
Taxes450/3€2.27M€3.52M▲
Remuneration and social security454/9€6k€22▼
Other amounts payable47/48€2.95M€1.43M▼
Accrued charges and deferred income492/3€12k€14▼
Income statement
Code20242025
Operating income70/76A€48.73M€56.48M▲
Turnover70€47.01M€54.50M▲
Other operating income74€1.72M€1.98M▲
Operating charges60/66A€40.40M€49.40M▲
Goods for resale, raw materials and consumables60€39.15M€48.66M▲
Purchases600/8€65.17M€32.41M▼
Change in stocks: decrease (increase)609€-26.02M€16.25M▲
Services and other goods61€874k€984k▲
Remuneration, social security and pensions62€72k€5k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€13k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€218k€-438k▼
Other operating charges640/8€81k€168k▲
Non-recurring operating charges66A€316€4k▲
Operating profit (loss)9901€8.32M€7.08M▼
Financial income75/76B€476k€42k▼
Recurring financial income75€476k€42k▼
Income from financial fixed assets750€22k€31k▲
Income from current assets751€454k€11k▼
Other financial income752/9€63€327▲
Financial charges65/66B€925k€2.39M▲
Recurring financial charges65€925k€2.39M▲
Debt charges650€799k€2.28M▲
Other financial charges652/9€126k€108k▼
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€7.88M€4.73M▼
Income taxes67/77€2.15M€1.28M▼
Taxes670/3€2.16M€1.28M▼
Tax adjustments and reversals of tax provisions77€8k€0▼
Profit (loss) for the period9904€5.73M€3.45M▼
Profit (loss) for the period to be appropriated9905€5.73M€3.45M▼
Appropriation of the result
Profit (loss) to be appropriated9906€5.73M€3.45M▼
Transfer to equity691/2€5.73M€3.45M▼
To other reserves6921€5.73M€3.45M▼
Social balance
Average headcount (FTE)90871.31.2▼
The notes to these accounts (62 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €48.73M | €56.48M | ▲ 15.9% |
| Turnover70 | - | - | - | €47.01M | €54.50M | ▲ 15.9% |
| Other operating income74 | - | - | - | €1.72M | €1.98M | ▲ 15.2% |
| Operating charges60/66A | - | - | - | €40.40M | €49.40M | ▲ 22.3% |
| Goods for resale, raw materials and consumables60 | - | - | - | €39.15M | €48.66M | ▲ 24.3% |
| Purchases600/8 | - | - | - | €65.17M | €32.41M | ▼ 50.3% |
| Change in stocks: decrease (increase)609 | - | - | - | €-26.02M | €16.25M | ▲ 162% |
| Services and other goods61 | - | - | - | €874k | €984k | ▲ 12.6% |
| Remuneration, social security and pensions62 | - | €9k | €30k | €72k | €5k | ▼ 92.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €7k | €7k | €9k | €13k | ▲ 47.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €220k | €218k | €-438k | ▼ 301% |
| Other operating charges640/8 | €5k | €8k | €74k | €81k | €168k | ▲ 108% |
| Non-recurring operating charges66A | - | - | - | €316 | €4k | ▲ 1,233% |
| Gross operating margin9900 | €1.51M | €2.12M | €9.49M | - | - | - |
| Operating profit (loss)9901 | €1.50M | €2.10M | €9.16M | €8.32M | €7.08M | ▼ 14.9% |
| Financial income75/76B | €9k | €28k | €870k | €476k | €42k | ▼ 91.3% |
| Recurring financial income75 | €9k | €28k | €870k | €476k | €42k | ▼ 91.3% |
| Income from financial fixed assets750 | - | - | - | €22k | €31k | ▲ 36.7% |
| Income from current assets751 | - | - | - | €454k | €11k | ▼ 97.7% |
| Other financial income752/9 | - | - | - | €63 | €327 | ▲ 421% |
| Financial charges65/66B | €268k | €264k | €700k | €925k | €2.39M | ▲ 159% |
| Recurring financial charges65 | €268k | €264k | €400k | €925k | €2.39M | ▲ 159% |
| Debt charges650 | - | - | - | €799k | €2.28M | ▲ 186% |
| Other financial charges652/9 | - | - | - | €126k | €108k | ▼ 13.7% |
| Non-recurring financial charges66B | - | - | €300k | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €1.24M | €1.86M | €9.33M | €7.88M | €4.73M | ▼ 39.9% |
| Income taxes67/77 | €310k | €465k | €2.22M | €2.15M | €1.28M | ▼ 40.6% |
| Taxes670/3 | - | - | - | €2.16M | €1.28M | ▼ 40.8% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €8k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €932k | €1.40M | €7.10M | €5.73M | €3.45M | ▼ 39.7% |
| Profit (loss) for the period to be appropriated9905 | €932k | €1.40M | €7.10M | €5.73M | €3.45M | ▼ 39.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.82M | €39.47M | €59.67M | €85.46M | €61.08M | ▼ 28.5% |
| Fixed assets21/28 | €2.10M | €2.10M | €41k | €60k | €3.44M | ▲ 5,597% |
| Tangible fixed assets22/27 | €50k | €48k | €41k | €60k | €68k | ▲ 12.9% |
| Plant, machinery and equipment23 | €2k | €3k | €1k | €220 | €3k | ▲ 1,334% |
| Furniture and vehicles24 | €23k | €20k | €14k | €35k | €40k | ▲ 13.9% |
| Other tangible fixed assets26 | €25k | €25k | €25k | €25k | €25k | = |
| Financial fixed assets28 | €2.05M | €2.05M | €0 | - | €3.38M | - |
| Affiliated companies280/1 | - | - | - | - | €3.38M | - |
| Participating interests280 | - | - | - | - | €3.38M | - |
| Current assets29/58 | €10.72M | €37.37M | €59.63M | €85.40M | €57.64M | ▼ 32.5% |
| Stocks and contracts in progress3 | €9.07M | €33.87M | €55.04M | €83.12M | €51.57M | ▼ 38.0% |
| Stocks30/36 | €9.07M | €33.87M | €55.04M | €83.12M | €51.57M | ▼ 38.0% |
| Property held for sale35 | - | - | - | €83.12M | €51.57M | ▼ 38.0% |
| Amounts receivable within one year40/41 | €1.32M | €2.15M | €3.46M | €1.98M | €3.58M | ▲ 80.4% |
| Trade receivables40 | - | €794k | €1.92M | €8k | €846k | ▲ 10,921% |
| Other amounts receivable41 | €1.32M | €1.36M | €1.53M | €1.97M | €2.73M | ▲ 38.2% |
| Cash at bank and in hand54/58 | €330k | €1.32M | €1.14M | €290k | €2.44M | ▲ 742% |
| Deferred charges and accrued income490/1 | €1k | €35k | €146 | €5k | €54k | ▲ 998% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.82M | €39.47M | €59.67M | €85.46M | €61.08M | ▼ 28.5% |
| Equity10/15 | €2k | €2k | €7.10M | €12.83M | €12.01M | ▼ 6.4% |
| Contributions10/11 | €2k | €2k | €2k | €2k | €1k | ▼ 33.3% |
| Reserves13 | - | - | €7.10M | €12.83M | €12.01M | ▼ 6.4% |
| Distributable reserves133 | - | - | €7.10M | €12.83M | €12.01M | ▼ 6.4% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - | - | - |
| Amounts payable17/49 | €12.82M | €39.47M | €52.57M | €72.63M | €49.07M | ▼ 32.4% |
| Amounts payable after more than one year17 | €2.79M | €3.72M | €2.91M | €42.22M | €16.97M | ▼ 59.8% |
| Financial debts170/4 | €2.79M | €3.72M | €2.91M | €42.22M | €16.97M | ▼ 59.8% |
| Subordinated loans170 | - | - | - | €2.66M | €0 | ▼ 100% |
| Credit institutions173 | - | - | - | €39.55M | €16.97M | ▼ 57.1% |
| Amounts payable within one year42/48 | €10.02M | €35.75M | €49.66M | €30.40M | €32.10M | ▲ 5.6% |
| Current portion of amounts payable after more than one year42 | €7.23M | €26.80M | €42.24M | €22.88M | €26.81M | ▲ 17.2% |
| Financial debts43 | - | - | - | €2.25M | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €2.25M | €0 | ▼ 100% |
| Trade debts44 | €120k | €23k | €194k | €42k | €347k | ▲ 721% |
| Suppliers440/4 | €120k | €23k | €194k | €42k | €347k | ▲ 721% |
| Taxes, remuneration and social security45 | €385k | €928k | €2.86M | €2.27M | €3.52M | ▲ 54.9% |
| Taxes450/3 | €385k | €928k | €2.85M | €2.27M | €3.52M | ▲ 55.3% |
| Remuneration and social security454/9 | - | €640 | €3k | €6k | €22 | ▼ 99.6% |
| Other amounts payable47/48 | €2.28M | €8.00M | €4.37M | €2.95M | €1.43M | ▼ 51.5% |
| Accrued charges and deferred income492/3 | - | - | - | €12k | €14 | ▼ 99.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €932k | €1.40M | €7.10M | €5.73M | €3.45M | ▼ 39.7% |
| + Depreciation and write-downs630 | €4k | €7k | €7k | €9k | €13k | ▲ 47.3% |
| Operating cash flow (approximation) | €935k | €1.40M | €7.11M | €5.73M | €3.47M | ▼ 39.6% |
| Investment in fixed assets (approximation) | - | €-5k | €2.05M | €-28k | €-3.40M | ▼ 12,027% |
| Change in cash | - | €986k | €-179k | €-847k | €2.15M | ▲ 354% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity doublescurrent ratio 2.81
Current ratio from 1.20 to 2.81; short-term debt falls from €49.66M to €30.40M.
31-12
Financial
Equity above €10MEq €12.83M ▲80.6%
4 profitable years in a row build equity to €12.83M.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2021net €7.10M ▲409%
Operating result €9.16M, net result €7.10M, both a record.
31-12
Financial
Equity above €5MEq €7.10M ▲355,115%
3 profitable years in a row build equity to €7.10M.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated 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, Huldenberg · 1 establishment unit since 2020
Ground area
968 m²
Building footprint
165 m²
Volume, LiDAR
675 m³
Parcel 24099A0629/00C002, Flanders · tallest building 6.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Bagio
since 20202.307.239.129
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24099A0629/00C002 | Flanders | 968 m² | 1 · 165 m² | 6.0 m · 1 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
Legal Entity Identifier
8755007009FDF0ZSEZ62
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,384. 1,068 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded16-07-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.