Balti
ActiveSummary
Balti has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €898k and a net result of €1.95M. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 12% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▲+12
Solvency35▼-23
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity tight (current ratio 1.2 against 1.94 in 2024; short-term debt: 75.1% and cash: 30.2% of total assets), and 90.3% of the assets are financed with debt.
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Signals
Five 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 · 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
9.7%
Return on assets
21%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 7838 sector peers (2025).
NBB · sector comparisonPosition among 7838 sector peers
Solvency
better than 12%
← weakest
strongest →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
16 d early
2024
31 d late
2023
11 d early
2022
51 d late
2021
24 d early
2020
54 d early
2019
182 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
History
Financials · fiscal year 2025, abbreviated schema
Equity
€898k▼ 73.2%
2024 · €3.35M
Total assets
€9.27M▼ 7.8%
2024 · €10.06M
Net result
€1.95M▲ 73.4%
2024 · €1.12M
Working capital
€1.36M▼ 68.0%
2024 · €4.26M
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€999k▼ 46.5%€3.09M▲ 209%€3.84M▲ 24.3%€1.23M▼ 68.0%€2.22M▲ 80.8%
Net result€729k▼ 47.5%€2.31M▲ 216%€2.86M▲ 23.8%€1.12M▼ 60.7%€1.95M▲ 73.4%
Equity€2.76M▲ 35.9%€3.57M▲ 29.2%€3.43M▼ 4.0%€3.35M▼ 2.3%€898k▼ 73.2%
Total assets€3.92M▼ 37.1%€13.66M▲ 249%€11.42M▼ 16.4%€10.06M▼ 11.9%€9.27M▼ 7.8%
Debt€1.13M▼ 72.8%€10.06M▲ 793%€7.69M▼ 23.5%€6.65M▼ 13.5%€8.27M▲ 24.4%
Working capital€2.50M▲ 30.1%€3.26M▲ 30.5%€4.86M▲ 49.0%€4.26M▼ 12.3%€1.36M▼ 68.0%
Staff (FTE)16▲ 50.9%27.1▲ 69.4%37.2▲ 37.3%31.4▼ 15.6%23.7▼ 24.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 81% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.27M
Fixed assets
€949k ▼ 23.9%
Current assets
€8.32M ▼ 5.5%
Equity and liabilities €9.27M
Equity
€898k ▼ 73.2%
Provisions
€101k ▲ 81.2%
Debt
€8.27M ▲ 24.4%
Debt's share of the balance-sheet total rises from 66.1% to 89.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2.58M▲
2024 · €1.58M
Cash flow
€2.30M▲
2024 · €1.48M
Current ratio
1.20▼
2024 · 1.94
Quick ratio
0.81▼
2024 · 1.45
Debt to equity
9.22▲
2024 · 1.98
ROE
216.8%▲
2024 · 33.5%
ROA
21.0%▲
2024 · 11.2%
Interest coverage
19.33▼
2024 · 21.40
Debt ≤ 1 year
€6.96M▲
2024 · €4.55M
Debt > 1 year
€1.30M▼
2024 · €2.11M
Income taxes
€203k▲
2024 · €141k
Staff costs
€1.37M▲
2024 · €1.24M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €645k | €1.28M | €2.12M | €1.24M | €1.37M | ▲ 10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €125k | €248k | €387k | €355k | €353k | ▼ 0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €563k | €185k | ▼ 67.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €-28k | - | €198k | €-142k | €45k | ▲ 132% |
| Other operating charges640/8 | €8k | €15k | €38k | €87k | €10k | ▼ 88.7% |
| Gross operating margin9900 | €1.75M | €4.63M | €6.58M | €3.33M | €4.19M | ▲ 25.6% |
| Operating profit (loss)9901 | €999k | €3.09M | €3.84M | €1.23M | €2.22M | ▲ 80.8% |
| Financial income75/76B | €698 | - | €55k | €109k | €61k | ▼ 43.7% |
| Recurring financial income75 | €698 | - | €55k | €109k | €61k | ▼ 43.7% |
| Financial charges65/66B | €20k | €76k | €79k | €74k | €133k | ▲ 80.0% |
| Recurring financial charges65 | €20k | €76k | €79k | €74k | €133k | ▲ 80.0% |
| Profit (loss) for the period before taxes9903 | €980k | €3.01M | €3.81M | €1.26M | €2.15M | ▲ 70.2% |
| Income taxes67/77 | €250k | €704k | €958k | €141k | €203k | ▲ 44.1% |
| Profit (loss) for the period9904 | €729k | €2.31M | €2.86M | €1.12M | €1.95M | ▲ 73.4% |
| Profit (loss) for the period to be appropriated9905 | €729k | €2.31M | €2.86M | €1.12M | €1.95M | ▲ 73.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.92M | €13.66M | €11.42M | €10.06M | €9.27M | ▼ 7.8% |
| Formation expenses20 | €2k | €992 | €0 | - | - | - |
| Fixed assets21/28 | €552k | €1.29M | €1.41M | €1.25M | €949k | ▼ 23.9% |
| Intangible fixed assets21 | €148k | €338k | €452k | €357k | €307k | ▼ 14.1% |
| Tangible fixed assets22/27 | €404k | €948k | €957k | €889k | €641k | ▼ 27.9% |
| Land and buildings22 | - | - | €34k | €0 | - | - |
| Plant, machinery and equipment23 | €28k | €50k | €85k | €6k | €20k | ▲ 207% |
| Furniture and vehicles24 | €234k | €799k | €786k | €586k | €328k | ▼ 44.0% |
| Leasing and similar rights25 | €119k | €83k | €41k | €17k | €0 | ▼ 100% |
| Other tangible fixed assets26 | €23k | €17k | €11k | €280k | €293k | ▲ 4.7% |
| Financial fixed assets28 | €0 | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €3.36M | €12.37M | €10.01M | €8.81M | €8.32M | ▼ 5.5% |
| Stocks and contracts in progress3 | €1.72M | €10.20M | €2.26M | €2.21M | €2.68M | ▲ 21.3% |
| Stocks30/36 | €1.72M | €10.20M | €2.26M | €2.07M | €2.54M | ▲ 22.6% |
| Contracts in progress37 | - | - | - | €138k | €140k | ▲ 1.8% |
| Amounts receivable within one year40/41 | €424k | €2.00M | €1.21M | €1.77M | €1.54M | ▼ 12.8% |
| Trade receivables40 | €240k | €1.82M | €1.17M | €1.34M | €1.52M | ▲ 13.5% |
| Other amounts receivable41 | €184k | €180k | €40k | €425k | €17k | ▼ 95.9% |
| Current investments50/53 | - | - | €2.20M | €1.35M | €1.30M | ▼ 3.7% |
| Cash at bank and in hand54/58 | €1.21M | €165k | €4.33M | €3.49M | €2.80M | ▼ 19.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | €10k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.92M | €13.66M | €11.42M | €10.06M | €9.27M | ▼ 7.8% |
| Equity10/15 | €2.76M | €3.57M | €3.43M | €3.35M | €898k | ▼ 73.2% |
| Contributions10/11 | €24k | €24k | €24k | €24k | €24k | = |
| Capital10 | €24k | €24k | - | - | - | - |
| Issued capital100 | €24k | €24k | - | - | - | - |
| Reserves13 | €1.00M | €1.50M | €1.50M | €1.50M | €874k | ▼ 41.7% |
| Distributable reserves133 | €1.00M | €1.50M | €1.50M | €1.50M | €874k | ▼ 41.7% |
| Profit (loss) carried forward14 | €1.74M | €2.05M | €1.90M | €1.83M | €0 | ▼ 100% |
| Provisions and deferred taxes16 | €25k | €25k | €298k | €56k | €101k | ▲ 81.2% |
| Provisions for liabilities and charges160/5 | €25k | €25k | €298k | €56k | €101k | ▲ 81.2% |
| Pensions and similar obligations160 | €25k | €25k | €99k | €0 | - | - |
| Other liabilities and charges164/5 | - | - | €198k | €56k | €101k | ▲ 81.2% |
| Amounts payable17/49 | €1.13M | €10.06M | €7.69M | €6.65M | €8.27M | ▲ 24.4% |
| Amounts payable after more than one year17 | €267k | €958k | €2.55M | €2.11M | €1.30M | ▼ 38.2% |
| Financial debts170/4 | €267k | €958k | €2.55M | €2.11M | €1.30M | ▼ 38.2% |
| Amounts payable within one year42/48 | €860k | €9.10M | €5.14M | €4.55M | €6.96M | ▲ 53.1% |
| Current portion of amounts payable after more than one year42 | - | - | €495k | €395k | €626k | ▲ 58.5% |
| Financial debts43 | €172k | €1.23M | - | - | - | - |
| Credit institutions430/8 | €172k | €1.23M | - | - | - | - |
| Trade debts44 | €395k | €3.30M | €2.27M | €505k | €1.14M | ▲ 126% |
| Suppliers440/4 | €395k | €3.30M | €2.27M | €505k | €1.14M | ▲ 126% |
| Advances received on contracts in progress46 | - | €2.68M | €471k | €165k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €254k | €354k | €358k | €689k | €681k | ▼ 1.2% |
| Taxes450/3 | €250k | €354k | €358k | €531k | €159k | ▼ 70.0% |
| Remuneration and social security454/9 | €4k | - | - | €158k | €522k | ▲ 230% |
| Other amounts payable47/48 | €39k | €1.54M | €1.55M | €2.79M | €4.51M | ▲ 61.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €12k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €729k | €2.31M | €2.86M | €1.12M | €1.95M | ▲ 73.4% |
| + Depreciation and write-downs630 | €125k | €248k | €387k | €355k | €353k | ▼ 0.5% |
| Operating cash flow (approximation) | €855k | €2.56M | €3.24M | €1.48M | €2.30M | ▲ 55.7% |
| Investment in fixed assets (approximation) | - | €-984k | €-510k | €-193k | €-54k | ▲ 71.9% |
| Change in cash | - | €-1.05M | €4.17M | €-848k | €-691k | ▲ 18.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
20-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2019net €2.86M ▲23.8%
Operating result €3.84M, net result €2.86M, both a record.
20-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 51 days late
2022
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity triplescurrent ratio 3.91
Current ratio from 1.50 to 3.91; short-term debt falls from €3.81M to €860k.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €2MEq €2.03M ▲216%
2 profitable years in a row build equity to €2.03M.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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 2018
Ground area
4,971 m²
Building footprint
2,112 m²
Volume, LiDAR
10,018 m³
Parcel 34026A0537/00L000, Flanders · tallest building 7.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Balti
since 20182.276.186.756
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026A0537/00L000 | Flanders | 4,971 m² | 1 · 2,112 m² | 7.1 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 635 EUR awarded · 635 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 62 EUR | 62 EUR |
| 2022 | 1 | 573 EUR | 573 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
4 categoriesBalti BV43891
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Of 22,832 companies in sector 43211 we hold annual accounts for 10,326. 4,976 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
Founded13-02-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43213Specialised construction activities
Contact
Phone
056123333
Scores and ratios are computed by Checked and are not a credit decision.