BALHAN
ActiveSummary
BALHAN has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €63,963 and a net result of €27,831. Equity is shrinking by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 37% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▲+13
Solvency61=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 1.72 against 1.48 in 2024; short-term debt: 33.4% and cash: 10.8% of total assets), but 64.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
35.5%
Return on assets
15.5%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €63,963
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
27 d late
2023
26 d late
2022
31 d late
2021
31 d late
2020
16 d late
2019
17 d late
← 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 18 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€63,963▲ 76.7%
2024 · €36,207
Total assets
€179,942▲ 77.7%
2024 · €101,289
Net result
€27,831▲ 442%
2024 · €5,135
Working capital
€43,013▲ 44.2%
2024 · €29,821
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€804▼ 79.9%-€57,565-€8,883▲ 84.6%€8,916€30,776▲ 245%
Net result€186▼ 94.4%-€58,082-€9,181▲ 84.2%€5,135€27,831▲ 442%
Equity€107,025▼ 0.4%€48,359▼ 54.8%€38,595▼ 20.2%€36,207▼ 6.2%€63,963▲ 76.7%
Total assets€183,864▼ 9.4%€145,958▼ 20.6%€117,711▼ 19.4%€101,289▼ 14.0%€179,942▲ 77.7%
Debt€76,839▼ 19.6%€97,599▲ 27.0%€79,116▼ 18.9%€65,082▼ 17.7%€115,979▲ 78.2%
Working capital€75,974▼ 1.9%€26,468▼ 65.2%€21,689▼ 18.1%€29,821▲ 37.5%€43,013▲ 44.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 245% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €179,942
Fixed assets
€76,797 ▲ 714%
Current assets
€103,145 ▲ 12.3%
Equity and liabilities €179,942
Equity
€63,963 ▲ 76.7%
Debt
€115,979 ▲ 78.2%
Debt's share of the balance-sheet total rises from 64.3% to 64.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€32,321▲
2024 · €26,621
Cash flow
€29,376▲
2024 · €22,840
Current ratio
1.72▲
2024 · 1.48
Quick ratio
1.50▲
2024 · 1.26
Debt to equity
1.81▲
2024 · 1.80
ROE
43.5%▲
2024 · 14.2%
ROA
15.5%▲
2024 · 5.1%
Interest coverage
61.97▲
2024 · 6.91
Debt ≤ 1 year
€60,132▼
2024 · €62,033
Debt > 1 year
€55,847
Income taxes
€2,500▲
2024 · €500
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 31,324 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 | €20,955 | €21,858 | €21,858 | €17,705 | €1,545 | ▼ 91.3% |
| Other operating charges640/8 | €1,229 | €1,740 | €1,149 | €1,846 | €3,180 | ▲ 72.3% |
| Gross operating margin9900 | €22,989 | -€33,967 | €14,124 | €28,467 | €35,501 | ▲ 24.7% |
| Operating profit (loss)9901 | €804 | -€57,565 | -€8,883 | €8,916 | €30,776 | ▲ 245% |
| Financial income75/76B | €586 | €588 | €584 | €573 | €77 | ▼ 86.6% |
| Recurring financial income75 | €586 | €588 | €584 | €573 | €77 | ▼ 86.6% |
| Financial charges65/66B | €1,204 | €1,105 | €882 | €3,854 | €522 | ▼ 86.5% |
| Recurring financial charges65 | €1,204 | €1,105 | €882 | €3,854 | €522 | ▼ 86.5% |
| Profit (loss) for the period before taxes9903 | €186 | -€58,082 | -€9,181 | €5,635 | €30,331 | ▲ 438% |
| Income taxes67/77 | - | - | - | €500 | €2,500 | ▲ 400% |
| Profit (loss) for the period9904 | €186 | -€58,082 | -€9,181 | €5,135 | €27,831 | ▲ 442% |
| Profit (loss) for the period to be appropriated9905 | €186 | -€58,082 | -€9,181 | €5,135 | €27,831 | ▲ 442% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €183,864 | €145,958 | €117,711 | €101,289 | €179,942 | ▲ 77.7% |
| Fixed assets21/28 | €70,981 | €49,122 | €27,264 | €9,435 | €76,797 | ▲ 714% |
| Tangible fixed assets22/27 | €70,857 | €48,998 | €27,140 | €9,435 | €76,797 | ▲ 714% |
| Plant, machinery and equipment23 | €25,298 | €16,076 | €6,853 | €1,784 | - | - |
| Furniture and vehicles24 | €45,558 | €32,923 | €20,287 | €7,651 | €76,797 | ▲ 904% |
| Financial fixed assets28 | €124 | €124 | €124 | - | - | - |
| Current assets29/58 | €112,883 | €96,836 | €90,447 | €91,854 | €103,145 | ▲ 12.3% |
| Stocks and contracts in progress3 | €18,982 | €17,972 | €14,934 | €13,679 | €12,754 | ▼ 6.8% |
| Stocks30/36 | €18,982 | €17,972 | €14,934 | €13,679 | €12,754 | ▼ 6.8% |
| Amounts receivable within one year40/41 | €85,387 | €78,158 | €74,357 | €69,913 | €70,078 | ▲ 0.2% |
| Trade receivables40 | €17,844 | €16,549 | €13,774 | €3,297 | €3,036 | ▼ 7.9% |
| Other amounts receivable41 | €67,543 | €61,609 | €60,583 | €66,616 | €67,041 | ▲ 0.6% |
| Cash at bank and in hand54/58 | €7,870 | €11 | €421 | €7,261 | €19,483 | ▲ 168% |
| Deferred charges and accrued income490/1 | €644 | €694 | €735 | €1,000 | €831 | ▼ 16.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €183,864 | €145,958 | €117,711 | €101,289 | €179,942 | ▲ 77.7% |
| Equity10/15 | €107,025 | €48,359 | €38,595 | €36,207 | €63,963 | ▲ 76.7% |
| Contributions10/11 | €33,600 | €33,600 | €33,600 | €33,600 | €33,600 | = |
| Reserves13 | €71,360 | €71,360 | €71,360 | €69,410 | €94,410 | ▲ 36.0% |
| Non-distributable reserves130/1 | €53,000 | €53,000 | €53,000 | €51,050 | €76,050 | ▲ 49.0% |
| Other1319 | €53,000 | €53,000 | €53,000 | €51,050 | €76,050 | ▲ 49.0% |
| Distributable reserves133 | €18,360 | €18,360 | €18,360 | €18,360 | €18,360 | = |
| Profit (loss) carried forward14 | €212 | -€57,870 | -€67,051 | -€66,916 | -€64,086 | ▲ 4.2% |
| Investment grants15 | €1,853 | €1,269 | €686 | €113 | €39 | ▼ 65.8% |
| Amounts payable17/49 | €76,839 | €97,599 | €79,116 | €65,082 | €115,979 | ▲ 78.2% |
| Amounts payable after more than one year17 | €39,677 | €25,018 | €10,096 | - | €55,847 | - |
| Financial debts170/4 | €39,677 | €25,018 | €10,096 | - | €55,847 | - |
| Amounts payable within one year42/48 | €36,909 | €70,368 | €68,758 | €62,033 | €60,132 | ▼ 3.1% |
| Current portion of amounts payable after more than one year42 | €14,402 | €15,869 | €15,101 | €10,096 | €13,080 | ▲ 29.6% |
| Financial debts43 | - | €165 | - | - | - | - |
| Credit institutions430/8 | - | €165 | - | - | - | - |
| Trade debts44 | €18,640 | €9,962 | €11,171 | €7,488 | €9,501 | ▲ 26.9% |
| Suppliers440/4 | €18,640 | €9,962 | €11,171 | €7,488 | €9,501 | ▲ 26.9% |
| Taxes, remuneration and social security45 | €3,868 | - | €1,307 | €2,641 | €6,666 | ▲ 152% |
| Taxes450/3 | €3,868 | - | €1,307 | €2,641 | €6,666 | ▲ 152% |
| Other amounts payable47/48 | - | €44,372 | €41,178 | €41,808 | €30,885 | ▼ 26.1% |
| Accrued charges and deferred income492/3 | €253 | €2,213 | €263 | €3,049 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €186 | -€58,082 | -€9,181 | €5,135 | €27,831 | ▲ 442% |
| + Depreciation and write-downs630 | €20,955 | €21,858 | €21,858 | €17,705 | €1,545 | ▼ 91.3% |
| Operating cash flow (approximation) | €21,141 | -€36,223 | €12,677 | €22,840 | €29,376 | ▲ 28.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €124 | -€68,908 | ▼ 55,693% |
| Change in cash | - | -€7,858 | €410 | €6,840 | €12,221 | ▲ 78.7% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Back to profitnet €5,135
Net result €5,135 after 2 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€58,082
Net result drops to -€58,082, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
2020
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 17 days late
2019
31-12
Financial
Highest result since 2018net €43,263 ▲519%
Operating result €57,436, net result €43,263, both a record.
31-12
Financial
Equity above €100,000Eq €107,286 ▲66.1%
2 profitable years in a row build equity to €107,286.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Verviers · 1 establishment unit since 1995
Ground area
476 m²
Building footprint
282 m²
Volume, LiDAR
1,990 m³
Parcel 63079A1434/00L004, Wallonia · tallest building 13.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue aux Laines 63, 4800 Verviers
since 19952.070.740.756
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63079A1434/00L004 | Wallonia | 476 m² | 1 · 282 m² | 13.0 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 20,025 companies in sector 43320 we hold annual accounts for 9,134. 7,576 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
Founded23-02-1995
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454540713
Also
9925:BE0454540713
Registered
11-08-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.