BALDER&CO
ActiveSummary
BALDER&CO has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36k and a net result of €-5k. Equity is shrinking by ~13.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 68% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability6▼-2
Solvency98▲+7
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 2.74 against 2.42 in 2024; short-term debt: 27.1% and cash: 58.8% of total assets), and 27.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
72.5%
Return on assets
-10.5%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-5k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 12-12-2025, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
23 d early
2023
7 d late
2022
on the day
2021
15 d late
2020
25 d late
2019
42 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€36k▼ 12.7%
2024 · €41k
2019: €118k
2020: €104k▼ -12.1% vs 2019
2021: €127k▲ +21.6% vs 2020highest in 7 years
2022: €125k▼ -1.1% vs 2021
2023: €46k▼ -62.9% vs 2022
2024: €41k▼ -12.0% vs 2023
2025: €36k▼ -12.7% vs 2024lowest in 7 years
2019 → 2025
Total assets
€49k▼ 21.0%
2024 · €62k
2019: €141k
2020: €126k▼ -11.2% vs 2019
2021: €157k▲ +24.7% vs 2020highest in 7 years
2022: €150k▼ -4.2% vs 2021
2023: €62k▼ -58.6% vs 2022
2024: €62k▲ +0.2% vs 2023
2025: €49k▼ -21.0% vs 2024lowest in 7 years
2019 → 2025
Net result
€-5k▲ 7.4%
2024 · €-6k
2019: €11k
2020: €-14k▼ -225% vs 2019
2021: €22k▲ +257% vs 2020highest in 7 years
2022: €-1k▼ -106% vs 2021
2023: €-79k▼ -5314% vs 2022lowest in 7 years
2024: €-6k▲ +92.9% vs 2023
2025: €-5k▲ +7.4% vs 2024
2019 → 2025
Working capital
€23k▼ 20.3%
2024 · €29k
2019: €87k
2020: €78k▼ -9.8% vs 2019
2021: €103k▲ +32.0% vs 2020highest in 7 years
2022: €103k▼ -0.4% vs 2021
2023: €29k▼ -72.0% vs 2022
2024: €29k▲ +1.3% vs 2023
2025: €23k▼ -20.3% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€127k-€125k▼ 1.1%€46k▼ 62.9%€41k▼ 12.0%€36k▼ 12.7%
2021: €127khighest in 5 years
2022: €125k▼ -1.1% vs 2021
2023: €46k▼ -62.9% vs 2022
2024: €41k▼ -12.0% vs 2023
2025: €36k▼ -12.7% vs 2024lowest in 5 years
Operating result€32k-€567▼ 98.2%€-79k€-6k▲ 92.7%€-5k▲ 7.2%
2021: €32khighest in 5 years
2022: €567▼ -98.2% vs 2021
2023: €-79k▼ -13984% vs 2022lowest in 5 years
2024: €-6k▲ +92.7% vs 2023
2025: €-5k▲ +7.2% vs 2024
Net result€22k-€-1k€-79k▼ 5,314%€-6k▲ 92.9%€-5k▲ 7.4%
2021: €22khighest in 5 years
2022: €-1k▼ -106% vs 2021
2023: €-79k▼ -5314% vs 2022lowest in 5 years
2024: €-6k▲ +92.9% vs 2023
2025: €-5k▲ +7.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5k in 2025 against €6k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €49k
Fixed assets
€13k ▼ 0.2%
Current assets
€37k ▼ 26.3%
Equity and liabilities €49k
Equity
€36k ▼ 12.7%
Debt
€13k ▼ 37.0%
Debt's share of the balance-sheet total falls from 34.4% to 27.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-1k▼
2024 · €-572
Cash flow
€-1k▼
2024 · €-415
Current ratio
2.74▲
2024 · 2.42
Debt to equity
0.38▼
2024 · 0.53
ROE
-14.5%▼
2024 · -13.7%
ROA
-10.5%▼
2024 · -9.0%
Interest coverage
-17.66▼
2024 · -10.99
Debt ≤ 1 year
€13k▼
2024 · €20k
Income taxes
€324▲
2024 · €239
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€62k€49k▼
Fixed assets21/28€13k€13k▼
Intangible fixed assets21-€4k
Tangible fixed assets22/27€13k€9k▼
Furniture and vehicles24€2k€658▼
Other tangible fixed assets26€11k€8k▼
Current assets29/58€50k€37k▼
Amounts receivable within one year40/41€21k€3k▼
Trade receivables40€21k€3k▼
Other amounts receivable41-€391
Current investments50/53€2k€2k=
Cash at bank and in hand54/58€24k€29k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€62k€49k▼
Equity10/15€41k€36k▼
Contributions10/11€19k€19k=
Reserves13€80k€80k=
Tax-exempt reserves132€6k€6k=
Distributable reserves133€74k€74k=
Profit (loss) carried forward14€-58k€-63k▼
Amounts payable17/49€21k€13k▼
Amounts payable within one year42/48€20k€13k▼
Trade debts44€4k€6k▲
Suppliers440/4€4k€4k▲
Bills of exchange payable441-€2k
Taxes, remuneration and social security45€12k€3k▼
Taxes450/3€12k€3k▼
Other amounts payable47/48€5k€4k▼
Accrued charges and deferred income492/3€951€165▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€4k▼
Other operating charges640/8€1k€1k▼
Gross operating margin9900€868€-8▼
Operating profit (loss)9901€-6k€-5k▲
Financial income75/76B€448€552▲
Recurring financial income75€448€552▲
Financial charges65/66B€52€73▲
Recurring financial charges65€52€73▲
Profit (loss) for the period before taxes9903€-5k€-5k▲
Income taxes67/77€239€324▲
Profit (loss) for the period9904€-6k€-5k▲
Profit (loss) for the period to be appropriated9905€-6k€-5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-58k€-63k▼
Profit (loss) brought forward from the previous period14P€-52k€-58k▼
The notes to these accounts (8 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €7k | €5k | €5k | €4k | ▼ 22.1% |
| Other operating charges640/8 | - | €1k | €1k | €1k | €1k | ▼ 10.5% |
| Gross operating margin9900 | €40k | €9k | €-72k | €868 | €-8 | ▼ 101% |
| Operating profit (loss)9901 | €32k | €567 | €-79k | €-6k | €-5k | ▲ 7.2% |
| Financial income75/76B | - | €212 | €254 | €448 | €552 | ▲ 23.1% |
| Recurring financial income75 | €191 | €212 | €254 | €448 | €552 | ▲ 23.1% |
| Financial charges65/66B | - | €114 | €52 | €52 | €73 | ▲ 41.1% |
| Recurring financial charges65 | €204 | €114 | €52 | €52 | €73 | ▲ 41.1% |
| Profit (loss) for the period before taxes9903 | €32k | €665 | €-78k | €-5k | €-5k | ▲ 9.3% |
| Income taxes67/77 | €10k | €2k | €259 | €239 | €324 | ▲ 35.5% |
| Profit (loss) for the period9904 | €22k | €-1k | €-79k | €-6k | €-5k | ▲ 7.4% |
| Profit (loss) for the period to be appropriated9905 | €22k | €-1k | €-79k | €-6k | €-5k | ▲ 7.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €157k | €150k | €62k | €62k | €49k | ▼ 21.0% |
| Fixed assets21/28 | €24k | €23k | €18k | €13k | €13k | ▼ 0.2% |
| Intangible fixed assets21 | - | - | - | - | €4k | - |
| Tangible fixed assets22/27 | €24k | €23k | €18k | €13k | €9k | ▼ 31.3% |
| Furniture and vehicles24 | - | €7k | €4k | €2k | €658 | ▼ 66.1% |
| Other tangible fixed assets26 | - | €16k | €13k | €11k | €8k | ▼ 25.0% |
| Current assets29/58 | €133k | €127k | €44k | €50k | €37k | ▼ 26.3% |
| Amounts receivable within one year40/41 | €49k | €25k | €13k | €21k | €3k | ▼ 84.0% |
| Trade receivables40 | - | €16k | €13k | €21k | €3k | ▼ 85.8% |
| Other amounts receivable41 | - | €10k | - | - | €391 | - |
| Current investments50/53 | €2k | €2k | €2k | €2k | €2k | = |
| Cash at bank and in hand54/58 | €68k | €98k | €28k | €24k | €29k | ▲ 18.3% |
| Deferred charges and accrued income490/1 | - | €1k | €1k | €2k | €2k | ▲ 4.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €157k | €150k | €62k | €62k | €49k | ▼ 21.0% |
| Equity10/15 | €127k | €125k | €46k | €41k | €36k | ▼ 12.7% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €108k | €107k | €80k | €80k | €80k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €99k | €72k | €74k | €74k | = |
| Profit (loss) carried forward14 | - | - | €-52k | €-58k | €-63k | ▼ 8.9% |
| Amounts payable17/49 | €30k | €25k | €16k | €21k | €13k | ▼ 37.0% |
| Amounts payable within one year42/48 | €29k | €24k | €16k | €20k | €13k | ▼ 34.9% |
| Trade debts44 | €9k | €6k | €3k | €4k | €6k | ▲ 69.7% |
| Suppliers440/4 | - | €6k | €3k | €4k | €4k | ▲ 19.7% |
| Bills of exchange payable441 | - | - | - | - | €2k | - |
| Taxes, remuneration and social security45 | - | €16k | €9k | €12k | €3k | ▼ 77.4% |
| Taxes450/3 | - | €16k | €9k | €12k | €3k | ▼ 77.4% |
| Other amounts payable47/48 | - | €3k | €3k | €5k | €4k | ▼ 8.8% |
| Accrued charges and deferred income492/3 | - | €464 | €150 | €951 | €165 | ▼ 82.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22k | €-1k | €-79k | €-6k | €-5k | ▲ 7.4% |
| + Depreciation and write-downs630 | €6k | €7k | €5k | €5k | €4k | ▼ 22.1% |
| Operating cash flow (approximation) | €29k | €6k | €-74k | €-415 | €-1k | ▼ 176% |
| Investment in fixed assets (approximation) | - | €-6k | €0 | €0 | €-4k | - |
| Change in cash | - | €29k | €-70k | €-3k | €4k | ▲ 231% |
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
2025
12-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
08-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
07-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 7 days late
2023
30-06
Financial
Weakest financial yearnet €-79k
Net result drops to €-79k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 15 days late
2021
30-06
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
13-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 42 days late
2019
06-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 6 days late
2018
09-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 9 days late
2017
10-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Waterloo · 1 establishment unit since 2005
Ground area
2,058 m²
Building footprint
154 m²
Volume, LiDAR
759 m³
Parcel 25763K0272/00_000, Wallonia · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BALDER & co sprl
since 20052.146.162.612
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763K0272/00_000 | Wallonia | 2,058 m² | 1 · 154 m² | 6.7 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.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,898. 5,289 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
Founded11-03-2005
Fiscal year end30-06
Activities, NACEBEL 2025
43310Plastering work
73300Public relations and communication consultancy
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.