BALTIM
ActiveSummary
BALTIM has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €827,807 and a net result of -€17,297. Equity remains stable across the filed fiscal years (±0.8% per year). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability24▲+5
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity tight (current ratio 1.13 against 1.14 in 2024; short-term debt: 15.4% and cash: 0.2% of total assets), and 15.4% 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
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
84.6%
Return on assets
-1.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
47 d early
2023
14 d late
2022
31 d late
2021
78 d late
2020
2 d early
2019
59 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 23 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 31 August (4 of the last 5 filed years within 47 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€24,000
EBIT margin
-172.1%
Net result
-€17,297▲ 26.8%
2024 · -€23,619
Working capital
€20,132▼ 3.5%
2024 · €20,854
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
Turnover
Operating result€1,649▼ 59.7%€2,646▲ 60.4%-€10,968-€12,459▼ 13.6%-€9,837▲ 21.0%
Net result€3,394€2,078▼ 38.8%-€21,607-€23,619▼ 9.3%-€17,297▲ 26.8%
EBIT margin
Equity€287,182▲ 1.2%€289,260▲ 0.7%€267,653▼ 7.5%€845,104▲ 216%€827,807▼ 2.0%
Total assets€696,597▲ 0.4%€681,770▼ 2.1%€840,825▲ 23.3%€992,959▲ 18.1%€978,904▼ 1.4%
Debt€409,415▼ 0.1%€392,510▼ 4.1%€573,172▲ 46.0%€147,856▼ 74.2%€151,098▲ 2.2%
Working capital€13,207€31,860▲ 141%€20,854€20,132▼ 3.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €9,837 in 2025 against €12,459 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €978,904
Fixed assets
€807,675 ▼ 2.0%
Current assets
€171,229 ▲ 1.5%
Equity and liabilities €978,904
Equity
€827,807 ▼ 2.0%
Debt
€151,098 ▲ 2.2%
Debt's share of the balance-sheet total rises from 14.9% to 15.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€6,738▲
2024 · €4,116
Cash flow
-€722▲
2024 · -€7,044
Current ratio
1.13▼
2024 · 1.14
Debt to equity
0.18▲
2024 · 0.17
ROE
-2.1%▲
2024 · -2.8%
ROA
-1.8%▲
2024 · -2.4%
Interest coverage
0.90▲
2024 · 0.37
Debt ≤ 1 year
€151,098▲
2024 · €147,856
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,575 | €16,575 | €16,575 | €16,575 | €16,575 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €2,781 | - |
| Other operating charges640/8 | €2,431 | €2,146 | €2,136 | €2,231 | €2,280 | ▲ 2.2% |
| Non-recurring operating charges66A | - | - | €450 | - | - | - |
| Gross operating margin9900 | €20,655 | €21,367 | €8,193 | €6,347 | €11,798 | ▲ 85.9% |
| Operating profit (loss)9901 | €1,649 | €2,646 | -€10,968 | -€12,459 | -€9,837 | ▲ 21.0% |
| Financial income75/76B | €13,000 | €13,000 | - | - | - | - |
| Recurring financial income75 | €13,000 | €13,000 | - | - | - | - |
| Financial charges65/66B | €9,582 | €7,343 | €10,252 | €11,160 | €7,460 | ▼ 33.2% |
| Recurring financial charges65 | €9,582 | €7,343 | €10,252 | €11,160 | €7,460 | ▼ 33.2% |
| Profit (loss) for the period before taxes9903 | €5,067 | €8,303 | -€21,219 | -€23,619 | -€17,297 | ▲ 26.8% |
| Income taxes67/77 | €1,673 | €6,225 | €388 | - | - | - |
| Profit (loss) for the period9904 | €3,394 | €2,078 | -€21,607 | -€23,619 | -€17,297 | ▲ 26.8% |
| Profit (loss) for the period to be appropriated9905 | €3,394 | €2,078 | -€21,607 | -€23,619 | -€17,297 | ▲ 26.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €696,597 | €681,770 | €840,825 | €992,959 | €978,904 | ▼ 1.4% |
| Fixed assets21/28 | €273,975 | €257,400 | €840,825 | €824,250 | €807,675 | ▼ 2.0% |
| Tangible fixed assets22/27 | €273,975 | €257,400 | €240,825 | €224,250 | €207,675 | ▼ 7.4% |
| Land and buildings22 | €273,975 | €257,400 | €240,825 | €224,250 | €207,675 | ▼ 7.4% |
| Financial fixed assets28 | - | - | €600,000 | €600,000 | €600,000 | = |
| Current assets29/58 | €422,622 | €424,370 | - | €168,709 | €171,229 | ▲ 1.5% |
| Amounts receivable within one year40/41 | €410,920 | €423,920 | - | €167,169 | €164,883 | ▼ 1.4% |
| Other amounts receivable41 | €410,920 | €423,920 | - | €167,169 | €164,883 | ▼ 1.4% |
| Cash at bank and in hand54/58 | €11,252 | - | - | €1,541 | €1,550 | ▲ 0.6% |
| Deferred charges and accrued income490/1 | €450 | €450 | - | - | €4,796 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €696,597 | €681,770 | €840,825 | €992,959 | €978,904 | ▼ 1.4% |
| Equity10/15 | €287,182 | €289,260 | €267,653 | €845,104 | €827,807 | ▼ 2.0% |
| Contributions10/11 | €6,197 | €6,197 | €6,197 | €607,267 | €607,267 | = |
| Revaluation surpluses12 | €273,975 | €257,400 | €240,825 | €224,250 | €207,675 | ▼ 7.4% |
| Reserves13 | €116,025 | €132,600 | €149,175 | €165,750 | - | - |
| Tax-exempt reserves132 | €116,025 | €132,600 | - | - | - | - |
| Distributable reserves133 | - | - | €149,175 | €165,750 | - | - |
| Profit (loss) carried forward14 | -€109,016 | -€106,937 | -€128,545 | -€152,163 | €12,865 | ▲ 108% |
| Amounts payable17/49 | €409,415 | €392,510 | €573,172 | €147,856 | €151,098 | ▲ 2.2% |
| Amounts payable within one year42/48 | €409,415 | €392,510 | €573,172 | €147,856 | €151,098 | ▲ 2.2% |
| Financial debts43 | €280,000 | €161,366 | €160,707 | €145,168 | €145,000 | ▼ 0.1% |
| Credit institutions430/8 | €280,000 | €161,366 | €160,707 | €145,168 | €145,000 | ▼ 0.1% |
| Trade debts44 | €2,976 | €3,205 | €1,558 | €2,687 | €6,098 | ▲ 127% |
| Suppliers440/4 | €2,976 | €3,205 | €1,558 | €2,687 | €6,098 | ▲ 127% |
| Taxes, remuneration and social security45 | €1,673 | €6,225 | €6,613 | - | - | - |
| Taxes450/3 | €1,673 | €6,225 | €6,613 | - | - | - |
| Other amounts payable47/48 | €124,766 | €221,715 | €404,294 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,394 | €2,078 | -€21,607 | -€23,619 | -€17,297 | ▲ 26.8% |
| + Depreciation and write-downs630 | €16,575 | €16,575 | €16,575 | €16,575 | €16,575 | = |
| Operating cash flow (approximation) | €19,969 | €18,653 | -€5,032 | -€7,044 | -€722 | ▲ 89.7% |
| Investment in fixed assets (approximation) | - | €0 | -€600,000 | €0 | €0 | - |
| Change in cash | - | - | - | - | €9 | - |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
14-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €500,000Eq €845,104 ▲216%
Equity rises from €267,653 to €845,104.
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 14 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
31-12
Financial
Back to profitnet €3,394
Net result €3,394 after 3 loss-making years.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 59 days late
2019
18-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 79 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Grâce-Hollogne · 1 establishment unit since 1992
Ground area
1,463 m²
Building footprint
125 m²
Volume, LiDAR
436 m³
Parcel 62054B0041/00P000, Wallonia · tallest building 7.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Rue des Champs 10, 4460 Grâce-Hollogne
since 19922.047.650.796
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62054B0041/00P000indicative | Wallonia | 1,463 m² | 1 · 125 m² | 7.7 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
5 owners · 1 holdingOwners 5
- Didier Ruffatonatural personSourceown accounts 202560%
-
30%
- Amaury Ruffatonatural personSourceown accounts 20255%
- Benoit Graniernatural personSourceown accounts 20252.5%
- Ivan Marchandisenatural personSourceown accounts 20252.5%
Holdings 1
- POLYMAT S.A.V.subsidiaryEquity €2.8mResult €1,155100%
According to the 2025 annual accounts of BALTIM and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPrivate limited company
Founded08-03-1990
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440338824
Registered
17-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.