BAILLIMMO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-11-2025 PDF all 10 filings
Turnover
≈ €200,000
Estimated: probably between €120,000 and €350,000
Total assets
€573,078▼ 7.9%
2024 · €622,345
Net result
-€25,631▲ 44.8%
2024 · -€46,447
Working capital
€36,240▲ 946%
2024 · €3,463
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€25,425
▲ 45.8%
2025
20202025
Net result
-€25,631
▲ 44.8%
2025
20202025
Equity
€551,635
▼ 4.4%
2025
20202025
Total assets
€573,078
▼ 7.9%
2025
20202025
Debt
€21,443
▼ 52.4%
2025
20202025
Working capital
€36,240
▲ 946%
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€52,948--€23,823▲ 55.0%-€46,980▼ 97.2%-€102,385▼ 118%-€46,891▲ 54.2%-€25,425▲ 45.8%
Net result-€54,650--€28,403▲ 48.0%-€47,709▼ 68.0%-€103,273▼ 116%-€46,447▲ 55.0%-€25,631▲ 44.8%
Equity€803,098-€774,696▼ 3.5%€726,987▼ 6.2%€623,714▼ 14.2%€577,267▼ 7.4%€551,635▼ 4.4%
Total assets€996,312-€946,967▼ 5.0%€803,903▼ 15.1%€678,140▼ 15.6%€622,345▼ 8.2%€573,078▼ 7.9%
Debt€117,823-€97,448▼ 17.3%€76,916▼ 21.1%€54,426▼ 29.2%€45,078▼ 17.2%€21,443▼ 52.4%
Working capital€462,037-€449,643▼ 2.7%€354,355▼ 21.2%€891▼ 99.7%€3,463▲ 289%€36,240▲ 946%
The operating result for 2025 is a loss of €25,425, smaller than the loss of €46,891 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €573,078
Fixed assets
€517,694 ▼ 10.1%
Current assets
€55,384 ▲ 19.8%
Equity and liabilities €573,078
Equity
€551,635 ▼ 4.4%
Debt
€21,443 ▼ 52.4%
Debt's share of the balance-sheet total falls from 7.2% to 3.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€32,984▲
2024 · €13,013
Cash flow
€32,777▲
2024 · €13,456
Current ratio
2.89▲
2024 · 1.08
Debt to equity
0.04▼
2024 · 0.08
ROE
-4.6%▲
2024 · -8.0%
ROA
-4.5%▲
2024 · -7.5%
Interest coverage
over 100▲
2024 · 20.67
Debt ≤ 1 year
€19,144▼
2024 · €42,779
Income taxes
€111▲
2024 · -€827
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €319,642 | - | - |
| Depreciation and write-downs of the year | €45,022 | €92,398 | €59,903 | €58,409 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,590 | €45,667 | €45,022 | €92,398 | €59,903 | €58,409 | ▼ 2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €16,027 | €646 | - | - | - |
| Other operating charges640/8 | - | - | €13,544 | €7,922 | €15,858 | €15,811 | ▼ 0.3% |
| Non-recurring operating charges66A | - | - | €3,005 | - | - | - | - |
| Gross operating margin9900 | €7,179 | €32,387 | €30,618 | -€1,419 | €28,871 | €48,795 | ▲ 69.0% |
| Operating profit (loss)9901 | -€52,948 | -€23,823 | -€46,980 | -€102,385 | -€46,891 | -€25,425 | ▲ 45.8% |
| Financial income75/76B | - | - | - | €324 | €246 | €113 | ▼ 54.1% |
| Recurring financial income75 | €13 | €0 | - | €324 | €246 | €113 | ▼ 54.1% |
| Financial charges65/66B | - | - | €1,319 | €1,004 | €630 | €209 | ▼ 66.8% |
| Recurring financial charges65 | €2,034 | €1,679 | €1,319 | €1,004 | €630 | €209 | ▼ 66.8% |
| Profit (loss) for the period before taxes9903 | -€54,968 | -€25,502 | -€48,299 | -€103,065 | -€47,274 | -€25,521 | ▲ 46.0% |
| Transfer from deferred taxes780 | - | - | €74,823 | - | - | - | - |
| Income taxes67/77 | -€101 | €3,468 | €74,232 | €208 | -€827 | €111 | - |
| Profit (loss) for the period9904 | -€54,650 | -€28,403 | -€47,709 | -€103,273 | -€46,447 | -€25,631 | ▲ 44.8% |
| Transfer from tax-exempt reserves789 | - | - | €263,671 | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €34,138 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€53,997 | -€26,700 | €215,962 | -€137,411 | -€46,447 | -€25,631 | ▲ 44.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €996,312 | €946,967 | €803,903 | €678,140 | €622,345 | €573,078 | ▼ 7.9% |
| Fixed assets21/28 | €490,442 | €453,784 | €408,762 | €636,006 | €576,103 | €517,694 | ▼ 10.1% |
| Tangible fixed assets22/27 | €490,442 | €453,784 | €408,762 | €636,006 | €576,103 | €517,694 | ▼ 10.1% |
| Land and buildings22 | - | - | €401,774 | €632,375 | €574,900 | €517,425 | ▼ 10.0% |
| Furniture and vehicles24 | - | - | €6,988 | €3,631 | €1,203 | €269 | ▼ 77.6% |
| Current assets29/58 | €505,870 | €493,182 | €395,141 | €42,134 | €46,242 | €55,384 | ▲ 19.8% |
| Amounts receivable within one year40/41 | €10,536 | €5,464 | €10,560 | - | - | €88 | - |
| Trade receivables40 | - | - | €10,560 | - | - | €88 | - |
| Cash at bank and in hand54/58 | €487,684 | €485,128 | €383,493 | €36,100 | €34,162 | €49,784 | ▲ 45.7% |
| Deferred charges and accrued income490/1 | - | - | €1,088 | €6,034 | €12,081 | €5,512 | ▼ 54.4% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €996,312 | €946,967 | €803,903 | €678,140 | €622,345 | €573,078 | ▼ 7.9% |
| Equity10/15 | €803,098 | €774,696 | €726,987 | €623,714 | €577,267 | €551,635 | ▼ 4.4% |
| Contributions10/11 | €18,550 | - | €18,550 | €18,550 | €19,206 | €19,206 | = |
| Revaluation surpluses12 | - | - | €338,048 | €303,910 | €269,771 | €235,633 | ▼ 12.7% |
| Reserves13 | €518,722 | €551,158 | €370,389 | €359,510 | €392,992 | €427,131 | ▲ 8.7% |
| Non-distributable reserves130/1 | - | - | €656 | €656 | €344,229 | €378,367 | ▲ 9.9% |
| Reserves not available under the articles1311 | - | - | €656 | €656 | €344,229 | €378,367 | ▲ 9.9% |
| Distributable reserves133 | - | - | €369,733 | €358,854 | €48,763 | €48,763 | = |
| Profit (loss) carried forward14 | -€140,498 | -€167,199 | - | -€58,255 | -€104,702 | -€130,334 | ▼ 24.5% |
| Provisions and deferred taxes16 | €75,390 | €74,823 | - | - | - | - | - |
| Amounts payable17/49 | €117,823 | €97,448 | €76,916 | €54,426 | €45,078 | €21,443 | ▼ 52.4% |
| Amounts payable after more than one year17 | €69,853 | €51,294 | €32,371 | €13,075 | - | - | - |
| Financial debts170/4 | - | - | €32,371 | €13,075 | - | - | - |
| Amounts payable within one year42/48 | €43,834 | €43,540 | €40,786 | €41,243 | €42,779 | €19,144 | ▼ 55.2% |
| Current portion of amounts payable after more than one year42 | - | - | €20,570 | €20,942 | €13,075 | - | - |
| Trade debts44 | €17,697 | €16,008 | €15,634 | €14,428 | €17,620 | €1,148 | ▼ 93.5% |
| Suppliers440/4 | - | - | €15,634 | €14,428 | €17,620 | €1,148 | ▼ 93.5% |
| Taxes, remuneration and social security45 | - | - | €2,436 | €1,129 | €170 | €110 | ▼ 35.3% |
| Taxes450/3 | - | - | €2,436 | €1,129 | €170 | €110 | ▼ 35.3% |
| Other amounts payable47/48 | - | - | €2,146 | €4,745 | €11,915 | €17,886 | ▲ 50.1% |
| Accrued charges and deferred income492/3 | - | - | €3,759 | €108 | €2,299 | €2,299 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€54,650 | -€28,403 | -€47,709 | -€103,273 | -€46,447 | -€25,631 | ▲ 44.8% |
| + Depreciation and write-downs630 | €47,590 | €45,667 | €45,022 | €92,398 | €59,903 | €58,409 | ▼ 2.5% |
| Operating cash flow (approximation) | -€7,060 | €17,264 | -€2,686 | -€10,875 | €13,456 | €32,777 | ▲ 144% |
| Investment in fixed assets (approximation) | - | -€9,010 | €0 | -€319,642 | €0 | €0 | - |
| Change in cash | - | -€2,556 | -€101,635 | -€347,393 | -€1,939 | €15,622 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,686 companies had the same profile as BAILLIMMO has now. Two years later, 93.7% were still going and 0.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
93.7%
was still going
5.4%
stopped otherwise
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BAILLIMMO 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.
| 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 2,686 companies, not a prediction for BAILLIMMO. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 10-11-2025 | 2025-00564580 | |
| 30-09-2024 | micro format | 24-05-2025 | 2025-00104551 | |
| 30-09-2023 | micro format | 10-04-2024 | 2024-00061098 | |
| 30-09-2022 | micro format | 11-01-2023 | 2023-20556730 | |
| 30-09-2021 | micro format | 21-02-2022 | 2022-05900405 | |
| 30-09-2020 | micro format | 30-01-2021 | 2021-04600101 | |
| 30-09-2018 | full format | 30-04-2019 | 2019-11500574 | |
| 30-09-2017 | full format | 11-04-2018 | 2018-09600045 | |
| 30-09-2016 | full format | 25-04-2017 | 2017-10000039 | |
| 30-09-2015 | full format | 29-04-2016 | 2016-11300411 |