Baltec
ActiveSummary
The computed 12-month bankruptcy probability of Baltec is 2.3% (moderate). The 2025 annual accounts show equity of €102,842 and a net result of €14,083. Equity is growing by ~32.8% per year across the filed fiscal years. Its solvency ranks better than 75% of 28051 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-19
Solvency95▲+8
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 3.06 against 2.36 in 2024; short-term debt: 22.1% and cash: 53.8% of total assets), and 30.2% of the assets are financed with debt.
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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
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 · 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
69.8%
Return on assets
9.6%
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 13-03-2026, 140 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
140 d early
2024
126 d early
2023
111 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 126 days before 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€102,842▲ 15.9%
2024 · €88,759
Total assets
€147,326▲ 3.3%
2024 · €142,670
Net result
€14,083▼ 68.1%
2024 · €44,191
Working capital
€67,034▲ 7.1%
2024 · €62,593
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
Line202320242025
Operating result€53,859-€56,525▲ 5.0%€18,309▼ 67.6%
Net result€42,568-€44,191▲ 3.8%€14,083▼ 68.1%
Equity€44,568-€88,759▲ 99.2%€102,842▲ 15.9%
Total assets€78,864-€142,670▲ 80.9%€147,326▲ 3.3%
Debt€34,296-€53,911▲ 57.2%€44,484▼ 17.5%
Working capital€38,546-€62,593▲ 62.4%€67,034▲ 7.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 68% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €147,326
Fixed assets
€47,699 ▲ 39.7%
Current assets
€99,627 ▼ 8.2%
Equity and liabilities €147,326
Equity
€102,842 ▲ 15.9%
Debt
€44,484 ▼ 17.5%
Debt's share of the balance-sheet total falls from 37.8% to 30.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€26,145▼
2024 · €61,209
Cash flow
€21,919▼
2024 · €48,875
Current ratio
3.06▲
2024 · 2.36
Quick ratio
2.96▲
2024 · 2.33
Debt to equity
0.43▼
2024 · 0.61
ROE
13.7%▼
2024 · 49.8%
ROA
9.6%▼
2024 · 31.0%
Interest coverage
21.76▼
2024 · 74.84
Debt ≤ 1 year
€32,592▼
2024 · €45,924
Debt > 1 year
€11,817▲
2024 · €7,912
Income taxes
€3,068▼
2024 · €11,536
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,136 | €4,684 | €7,836 | ▲ 67.3% |
| Other operating charges640/8 | €167 | €421 | €638 | ▲ 51.6% |
| Non-recurring operating charges66A | - | - | €12,557 | - |
| Gross operating margin9900 | €57,162 | €61,630 | €39,341 | ▼ 36.2% |
| Operating profit (loss)9901 | €53,859 | €56,525 | €18,309 | ▼ 67.6% |
| Financial income75/76B | €1 | €20 | €43 | ▲ 110% |
| Recurring financial income75 | €1 | €20 | €43 | ▲ 110% |
| Financial charges65/66B | €637 | €818 | €1,201 | ▲ 46.9% |
| Recurring financial charges65 | €637 | €818 | €1,201 | ▲ 46.9% |
| Profit (loss) for the period before taxes9903 | €53,223 | €55,728 | €17,151 | ▼ 69.2% |
| Income taxes67/77 | €10,655 | €11,536 | €3,068 | ▼ 73.4% |
| Profit (loss) for the period9904 | €42,568 | €44,191 | €14,083 | ▼ 68.1% |
| Profit (loss) for the period to be appropriated9905 | €42,568 | €44,191 | €14,083 | ▼ 68.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €78,864 | €142,670 | €147,326 | ▲ 3.3% |
| Fixed assets21/28 | €19,353 | €34,152 | €47,699 | ▲ 39.7% |
| Tangible fixed assets22/27 | €19,353 | €34,152 | €47,699 | ▲ 39.7% |
| Plant, machinery and equipment23 | €645 | €461 | €4,795 | ▲ 941% |
| Furniture and vehicles24 | €18,707 | €14,357 | €0 | ▼ 100% |
| Leasing and similar rights25 | - | - | €25,518 | - |
| Other tangible fixed assets26 | - | €19,334 | €17,386 | ▼ 10.1% |
| Current assets29/58 | €59,511 | €108,518 | €99,627 | ▼ 8.2% |
| Stocks and contracts in progress3 | €2,428 | €1,580 | €3,055 | ▲ 93.3% |
| Stocks30/36 | €2,428 | €1,580 | €3,055 | ▲ 93.3% |
| Amounts receivable within one year40/41 | €9,843 | €13,647 | €16,387 | ▲ 20.1% |
| Trade receivables40 | €7,396 | €7,590 | €13,145 | ▲ 73.2% |
| Other amounts receivable41 | €2,447 | €6,058 | €3,243 | ▼ 46.5% |
| Cash at bank and in hand54/58 | €46,699 | €92,762 | €79,282 | ▼ 14.5% |
| Deferred charges and accrued income490/1 | €541 | €528 | €903 | ▲ 71.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €78,864 | €142,670 | €147,326 | ▲ 3.3% |
| Equity10/15 | €44,568 | €88,759 | €102,842 | ▲ 15.9% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €42,568 | €86,759 | €100,842 | ▲ 16.2% |
| Distributable reserves133 | €42,568 | €86,759 | €100,842 | ▲ 16.2% |
| Amounts payable17/49 | €34,296 | €53,911 | €44,484 | ▼ 17.5% |
| Amounts payable after more than one year17 | €12,906 | €7,912 | €11,817 | ▲ 49.4% |
| Financial debts170/4 | €12,906 | €7,912 | €11,817 | ▲ 49.4% |
| Amounts payable within one year42/48 | €20,965 | €45,924 | €32,592 | ▼ 29.0% |
| Current portion of amounts payable after more than one year42 | €4,781 | €4,994 | €12,255 | ▲ 145% |
| Trade debts44 | €487 | €25,553 | €2,255 | ▼ 91.2% |
| Suppliers440/4 | €487 | €25,553 | €2,255 | ▼ 91.2% |
| Taxes, remuneration and social security45 | €14,275 | €15,377 | €18,082 | ▲ 17.6% |
| Taxes450/3 | €11,855 | €13,099 | €15,804 | ▲ 20.7% |
| Remuneration and social security454/9 | €2,420 | €2,278 | €2,278 | = |
| Other amounts payable47/48 | €1,422 | €0 | - | - |
| Accrued charges and deferred income492/3 | €425 | €75 | €75 | = |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,568 | €44,191 | €14,083 | ▼ 68.1% |
| + Depreciation and write-downs630 | €3,136 | €4,684 | €7,836 | ▲ 67.3% |
| Operating cash flow (approximation) | €45,704 | €48,875 | €21,919 | ▼ 55.2% |
| Investment in fixed assets (approximation) | - | -€19,484 | -€21,383 | ▼ 9.7% |
| Change in cash | - | €46,062 | -€13,480 | ▼ 129% |
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
13-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €14,083 ▼68.1%
Net result drops to €14,083, the lowest in the series.
31-12
Financial
Equity above €100,000Eq €102,842 ▲15.9%
3 profitable years in a row build equity to €102,842.
27-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2023net €44,191 ▲3.8%
Operating result €56,525, net result €44,191, both a record.
11-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Kortrijk · 1 establishment unit since 2023
Ground area
358 m²
Building footprint
99 m²
Volume, LiDAR
720 m³
Parcel 34354C0099/00Y002, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Baltec
since 20232.344.798.024
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354C0099/00Y002 | Flanders | 358 m² | 1 · 99 m² | 11.5 m · 3 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 360 EUR awarded · 360 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 360 EUR | 360 EUR |
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MAXELEC-SOLAR
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,327. 8,792 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
Founded14-04-2023
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
Scores and ratios are computed by Checked and are not a credit decision.