BALTO
ActiveSummary
BALTO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.1m and a net result of €294,603. Equity is shrinking by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 52% of 8782 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+26
Solvency80▲+4
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days acceptable
Liquidity ample (current ratio 9.6 against 20.92 in 2024; short-term debt: 2.2% and cash: 4.5% of total assets), and 45.4% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
54.6%
Return on assets
7.7%
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 15-04-2026, 107 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
107 d early
2024
87 d early
2023
47 d early
2022
53 d early
2021
11 d early
2020
33 d early
2019
23 d early
← 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 52 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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. Usually files around 8 June (4 of the last 5 filed years within 42 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.1m▲ 13.3%
2024 · €1.8m
Total assets
€3.8m▲ 6.8%
2024 · €3.6m
Net result
€294,603▲ 276%
2024 · €78,368
Working capital
€712,985▲ 5.5%
2024 · €676,008
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€70,130-€71,557▼ 2.0%€19,314€128,582▲ 566%€388,647▲ 202%
Net result-€75,950below the sector's middle half▲ 0.9%-€127,239below the sector's middle half▼ 67.5%€209,402above the sector's middle half€78,368within the sector's middle half▼ 62.6%€294,603above the sector's middle half▲ 276%
Equity€2.3mabove the sector's middle half▼ 3.1%€2.2mabove the sector's middle half▼ 5.4%€2.4mabove the sector's middle half▲ 6.7%€1.8mabove the sector's middle half▼ 22.2%€2.1mabove the sector's middle half▲ 13.3%
Total assets€4.3mabove the sector's middle half▼ 5.2%€4.1mabove the sector's middle half▼ 5.1%€3.6mabove the sector's middle half▼ 11.1%€3.6mabove the sector's middle half▼ 1.2%€3.8mabove the sector's middle half▲ 6.8%
Debt€1.9m▼ 7.7%€1.8m▼ 4.8%€1.2m▼ 32.8%€1.7m▲ 40.7%€1.7m▼ 0.1%
Working capital€816,015above the sector's middle half▼ 4.0%€653,542above the sector's middle half▼ 19.9%€647,407above the sector's middle half▼ 0.9%€676,008above the sector's middle half▲ 4.4%€712,985above the sector's middle half▲ 5.5%
Solvency54.6%within the sector's middle half▲ 1.2pp54.4%within the sector's middle half▼ 0.2pp65.3%within the sector's middle half▲ 10.9pp51.5%within the sector's middle half▼ 13.9pp54.6%within the sector's middle half▲ 3.1pp
Current ratio13.18above the sector's middle half▲ 7.203.97above the sector's middle half▼ 9.2114.56above the sector's middle half▲ 10.5920.92above the sector's middle half▲ 6.369.60above the sector's middle half▼ 11.32
Return on assets (ROA)-1.8%below the sector's middle half▼ 0.1pp-3.1%below the sector's middle half▼ 1.4pp5.8%within the sector's middle half▲ 8.9pp2.2%within the sector's middle half▼ 3.6pp7.7%within the sector's middle half▲ 5.5pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2024 Net result -63% on 2023. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 202% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.8m
Fixed assets
€3.0m ▲ 5.5%
Current assets
€795,888 ▲ 12.1%
Equity and liabilities €3.8m
Equity
€2.1m ▲ 13.3%
Debt
€1.7m ▼ 0.1%
Debt's share of the balance-sheet total falls from 48.5% to 45.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€525,911▲
2024 · €218,956
Cash flow
€431,868▲
2024 · €168,742
Quick ratio
6.69▼
2024 · 13.80
Debt to equity
0.83▼
2024 · 0.94
ROE
14.1%▲
2024 · 4.3%
Interest coverage
7.70▲
2024 · 3.71
Debt ≤ 1 year
€82,903▲
2024 · €33,934
Debt > 1 year
€1.6m▼
2024 · €1.7m
Income taxes
€26,354▲
2024 · -€5,447
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €42,986 | €39,367 | ▼ 8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €97,292 | €99,651 | €83,119 | €90,374 | €137,264 | ▲ 51.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€22,085 | €0 | ▲ 100% |
| Other operating charges640/8 | €10,363 | €10,076 | €18,431 | €52,245 | €4,534 | ▼ 91.3% |
| Gross operating margin9900 | €37,525 | €38,170 | €120,863 | €249,116 | €530,445 | ▲ 113% |
| Operating profit (loss)9901 | -€70,130 | -€71,557 | €19,314 | €128,582 | €388,647 | ▲ 202% |
| Financial income75/76B | €81,823 | €27,021 | €256,181 | €3,300 | €600 | ▼ 81.8% |
| Recurring financial income75 | €81,823 | €27,021 | €256,181 | €3,300 | €600 | ▼ 81.8% |
| Financial charges65/66B | €86,731 | €81,922 | €58,966 | €58,960 | €68,289 | ▲ 15.8% |
| Recurring financial charges65 | €86,731 | €81,922 | €58,966 | €58,960 | €68,289 | ▲ 15.8% |
| Profit (loss) for the period before taxes9903 | -€75,038 | -€126,457 | €216,530 | €72,922 | €320,958 | ▲ 340% |
| Income taxes67/77 | €912 | €781 | €7,128 | -€5,447 | €26,354 | ▲ 584% |
| Profit (loss) for the period9904 | -€75,950 | -€127,239 | €209,402 | €78,368 | €294,603 | ▲ 276% |
| Profit (loss) for the period to be appropriated9905 | -€75,950 | -€127,239 | €209,402 | €78,368 | €294,603 | ▲ 276% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.3m | €4.1m | €3.6m | €3.6m | €3.8m | ▲ 6.8% |
| Fixed assets21/28 | €3.4m | €3.2m | €2.9m | €2.9m | €3.0m | ▲ 5.5% |
| Tangible fixed assets22/27 | €596,290 | €513,765 | €473,030 | €618,122 | €775,749 | ▲ 25.5% |
| Plant, machinery and equipment23 | €1,263 | €631 | €0 | - | €2,206 | - |
| Furniture and vehicles24 | €135,497 | €88,972 | €84,235 | €264,695 | €455,483 | ▲ 72.1% |
| Other tangible fixed assets26 | €459,530 | €424,162 | €388,795 | €353,428 | €318,060 | ▼ 10.0% |
| Financial fixed assets28 | €2.8m | €2.7m | €2.5m | €2.3m | €2.3m | = |
| Current assets29/58 | €883,004 | €873,477 | €695,161 | €709,942 | €795,888 | ▲ 12.1% |
| Stocks and contracts in progress3 | €241,655 | €241,655 | €241,655 | €241,655 | €241,655 | = |
| Stocks30/36 | €241,655 | €241,655 | €241,655 | €241,655 | €241,655 | = |
| Amounts receivable within one year40/41 | €105,820 | €175,978 | €71,187 | €93,469 | €113,367 | ▲ 21.3% |
| Trade receivables40 | €17,265 | €31,605 | €26,964 | €17,535 | €21,707 | ▲ 23.8% |
| Other amounts receivable41 | €88,555 | €144,373 | €44,223 | €75,935 | €91,660 | ▲ 20.7% |
| Cash at bank and in hand54/58 | €153,976 | €112,482 | €63,688 | €86,964 | €172,326 | ▲ 98.2% |
| Deferred charges and accrued income490/1 | €381,552 | €343,361 | €318,631 | €287,853 | €268,540 | ▼ 6.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.3m | €4.1m | €3.6m | €3.6m | €3.8m | ▲ 6.8% |
| Equity10/15 | €2.3m | €2.2m | €2.4m | €1.8m | €2.1m | ▲ 13.3% |
| Contributions10/11 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Reserves13 | €729,376 | €729,376 | €729,376 | €74,829 | €319,432 | ▲ 327% |
| Non-distributable reserves130/1 | €176,890 | €176,890 | €0 | - | - | - |
| Reserves not available under the articles1311 | €176,890 | €176,890 | €0 | - | - | - |
| Tax-exempt reserves132 | €52,486 | €52,486 | €52,486 | €52,486 | €52,486 | = |
| Distributable reserves133 | €500,000 | €500,000 | €676,890 | €22,343 | €266,947 | ▲ 1,095% |
| Profit (loss) carried forward14 | -€151,256 | -€278,495 | -€129,093 | €0 | €0 | - |
| Provisions and deferred taxes16 | €22,085 | €22,085 | €22,085 | €0 | - | - |
| Provisions for liabilities and charges160/5 | €22,085 | €22,085 | €22,085 | €0 | - | - |
| Pensions and similar obligations160 | €22,085 | €22,085 | €22,085 | €0 | - | - |
| Amounts payable17/49 | €1.9m | €1.8m | €1.2m | €1.7m | €1.7m | ▼ 0.1% |
| Amounts payable after more than one year17 | €1.8m | €1.6m | €1.2m | €1.7m | €1.6m | ▼ 3.0% |
| Financial debts170/4 | €1.8m | €1.6m | €1.2m | €1.7m | €1.6m | ▼ 3.0% |
| Amounts payable within one year42/48 | €66,989 | €219,935 | €47,754 | €33,934 | €82,903 | ▲ 144% |
| Trade debts44 | €35,054 | €3,804 | €13,559 | €13,090 | €10,566 | ▼ 19.3% |
| Suppliers440/4 | €35,054 | €3,804 | €13,559 | €13,090 | €10,566 | ▼ 19.3% |
| Taxes, remuneration and social security45 | €29,441 | €10,264 | €30,709 | €10,491 | €12,824 | ▲ 22.2% |
| Taxes450/3 | €29,441 | €10,264 | €30,709 | €10,491 | €12,824 | ▲ 22.2% |
| Other amounts payable47/48 | €2,494 | €205,868 | €3,487 | €10,353 | €59,513 | ▲ 475% |
| Accrued charges and deferred income492/3 | €37,860 | €42,957 | €17,200 | €24,013 | €24,013 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€75,950 | -€127,239 | €209,402 | €78,368 | €294,603 | ▲ 276% |
| + Depreciation and write-downs630 | €97,292 | €99,651 | €83,119 | €90,374 | €137,264 | ▲ 51.9% |
| Operating cash flow (approximation) | €21,342 | -€27,588 | €292,520 | €168,742 | €431,868 | ▲ 156% |
| Investment in fixed assets (approximation) | - | €110,018 | €192,102 | -€31,047 | -€294,891 | ▼ 850% |
| Change in cash | - | -€41,494 | -€48,795 | €23,277 | €85,362 | ▲ 267% |
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
04-06
State Gazette act
Incorporation · Statutes amendment
Permanent representative · Corporate purpose
04-06
State Gazette act
Statutes amendment · Permanent representative
Incorporation · Board composition
04-06
State Gazette act
Demerger · Shareholding
Incorporation · Statutes amendment
04-06
State Gazette act
Incorporation · Statutes amendment
Board composition · Permanent representative
04-06
State Gazette act
Demerger · Incorporation
Statutes amendment · Board composition
15-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
04-02
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2025
31-12
Financial
Highest result since 2018net €294,603 ▲276%
Operating result €388,647, net result €294,603, both a record.
31-12
Financial
Equity above €2mEq €2.1m ▲13.3%
3 profitable years in a row build equity to €2.1m.
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
10-01
State Gazette act
General meeting · Purpose change
Corporate purpose · Capital decrease
Show earlier events
2023
31-12
Financial
Back to profitnet €209,402
Net result €209,402 after 3 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 14.56
Current ratio from 3.97 to 14.56; short-term debt falls from €219,935 to €47,754.
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€127,239
Net result drops to -€127,239, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
07-04
State Gazette act
General meeting · Director resignation
Director discharge · Permanent representative
2021
31-12
Financial
Liquidity doublescurrent ratio 13.18
Current ratio from 5.98 to 13.18; short-term debt falls from €170,665 to €66,989.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 20current ratio 3.38
Current ratio from 0.17 to 3.38; short-term debt falls from €3.7m to €357,054.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Wortegem-Petegem · 1 establishment unit since 2002
Ground area
2,500 m²
Building footprint
344 m²
Volume, LiDAR
1,536 m³
Parcel 45008C0006/00D000, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Eeuwhoek (E.) 1, 9790 Wortegem-Petegem
since 20022.115.358.776
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45008C0006/00D000 | Flanders | 2,500 m² | 1 · 344 m² | 7.2 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of BALTO 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
The group is listed under Ownership & control below; here you explore it as a network.
This company
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Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Identification & contact
Identification
Legal formPrivate limited company
Founded15-07-2002
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477990759
Also
9925:BE0477990759
Registered
04-12-2025
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.