BARONIE
ActiveBARONIE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €390.98M and a net result of €96.78M. Equity is growing by ~54% per year across the filed fiscal years. Its solvency ranks better than 74% of 2382 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
83
/ 100
Excellent▲ +17 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▼-4
Solvency100▲+31
Growth85=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €550k at 30 days acceptable
Liquidity ample (current ratio 2.0 against 0.64 in 2024), and 13.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
86.8%
Return on assets
21.5%
Age of the figures
8 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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
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 · 5 filingsDeviation from the deadline
2025
16 d early
2024
on the day
2023
47 d early
2022
41 d early
2021
20 d early
← before the deadline
after the deadline →
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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory
Turnover
€5.36M▲ 33.2%
2024 · €4.03M
2019: €1.05M
2020: €1.33M
2021: €1.46M
2021: €1.27M
2022: €2.24M
2023: €2.77M
2024: €4.03M
2019 → 2025
EBIT margin
0.2%▼ 6.3pp
2024 · 6.4%
2019: -41.6%
2020: 14.3%
2021: -21.2%
2021: 25.3%
2022: -6.4%
2023: -0.3%
2024: 6.4%
2019 → 2025
Net result
€96.78M▼ 32.3%
2024 · €142.90M
2019: €10k
2020: €-1.78M
2021: €99.86M
2021: €4.44M
2022: €19.64M
2023: €-173k
2024: €142.90M
2019 → 2025
Working capital
€59.69M
2024 · €-53.96M
2019: €-19.68M
2020: €-20.96M
2021: €106.42M
2021: €-63.21M
2022: €-63.17M
2023: €-149.21M
2024: €-53.96M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.27M-€2.24M▲ 76.5%€2.77M▲ 23.3%€4.03M▲ 45.5%€5.36M▲ 33.2%
Equity€131.83M-€151.47M▲ 14.9%€151.30M▼ 0.1%€294.20M▲ 94.4%€390.98M▲ 32.9%
Operating result€322k-€-144k€-9k▲ 93.9%€259k€8k▼ 96.8%
Net result€4.44M-€19.64M▲ 342%€-173k€142.90M€96.78M▼ 32.3%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 97% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €450.61M
Fixed assets
€331.34M▼ 11.4%
Current assets
€119.27M▲ 22.2%
Equity and liabilities €450.63M
Equity
€390.98M▲ 32.9%
Debt
€59.65M▼ 66.4%
The debt ratio falls from 37.6% to 13.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€761k▲
2024 · €666k
Cash flow
€97.53M▼
2024 · €143.31M
Solvency
86.8%▲
2024 · 62.4%
Current ratio
2.00▲
2024 · 0.64
Quick ratio
2.00▲
2024 · 0.64
Debt / equity
0.15▼
2024 · 0.60
ROE
24.8%▼
2024 · 48.6%
ROA
21.5%▼
2024 · 30.3%
Interest coverage
0.18▲
2024 · 0.07
Debt
€59.65M▼
2024 · €177.58M
Debt ≤ 1 year
€59.58M▼
2024 · €151.52M
Income taxes
€90k▲
2024 · €-2
Staff costs
€617k▲
2024 · €518k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€471.79M€450.63M▼
Formation expenses20€66k€22k▼
Fixed assets21/28€374.16M€331.34M▼
Intangible fixed assets21€395k€1.15M▲
Tangible fixed assets22/27€667k€3.84M▲
Furniture and vehicles24€667k€3.84M▲
Assets under construction and advance payments27€0€0=
Financial fixed assets28€373.09M€326.35M▼
Affiliated companies280/1€373.09M€326.35M▼
Participating interests280€270.36M€270.36M=
Amounts receivable281€102.73M€55.99M▼
Other financial fixed assets284/8€50€50=
Amounts receivable and cash guarantees285/8€50€50=
Current assets29/58€97.57M€119.27M▲
Amounts receivable within one year40/41€96.37M€115.76M▲
Trade receivables40€4.06M€2.77M▼
Other amounts receivable41€92.31M€112.99M▲
Cash at bank and in hand54/58€352k€2.59M▲
Deferred charges and accrued income490/1€845k€917k▲
Equity and liabilities
Total equity and liabilities10/49€471.79M€450.63M▼
Equity10/15€294.20M€390.98M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€294.14M€390.92M▲
Non-distributable reserves130/1€1.96M€991k▼
Legal reserve130€6k€6k=
Other1319€1.96M€985k▼
Distributable reserves133€292.18M€389.93M▲
Amounts payable17/49€177.58M€59.65M▼
Amounts payable after more than one year17€25.00M-
Other amounts payable178/9€25.00M-
Amounts payable within one year42/48€151.52M€59.58M▼
Financial debts43€83.83M€2.24M▼
Credit institutions430/8€83.83M€2.24M▼
Trade debts44€478k€330k▼
Suppliers440/4€478k€330k▼
Taxes, remuneration and social security45€159k€231k▲
Taxes450/3€16k€99k▲
Remuneration and social security454/9€143k€132k▼
Other amounts payable47/48€67.05M€56.78M▼
Accrued charges and deferred income492/3€1.06M€72k▼
Income statement
Code20242025
Operating income70/76A€4.03M€5.85M▲
Turnover70€4.03M€5.36M▲
Other operating income74€9k€484k▲
Operating charges60/66A€3.78M€5.84M▲
Services and other goods61€2.85M€4.47M▲
Remuneration, social security and pensions62€518k€617k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€407k€753k▲
Other operating charges640/8€1k€927▼
Operating profit (loss)9901€259k€8k▼
Financial income75/76B€152.39M€102.22M▼
Recurring financial income75€152.39M€102.22M▼
Income from financial fixed assets750€149.23M€99.26M▼
Income from current assets751€2.54M€2.17M▼
Other financial income752/9€619k€793k▲
Financial charges65/66B€9.74M€5.36M▼
Recurring financial charges65€9.74M€5.36M▼
Debt charges650€9.66M€4.24M▼
Other financial charges652/9€83k€1.12M▲
Profit (loss) for the period before taxes9903€142.90M€96.87M▼
Income taxes67/77€-2€90k▲
Taxes670/3€0€90k▲
Tax adjustments and reversals of tax provisions77€2-
Profit (loss) for the period9904€142.90M€96.78M▼
Profit (loss) for the period to be appropriated9905€142.90M€96.78M▼
Appropriation of the result
Profit (loss) to be appropriated9906€142.90M€96.78M▼
Transfer to equity691/2€142.90M€96.78M▼
To other reserves6921€142.90M€96.78M▼
Social balance
Average headcount (FTE)90873.84.8▲
The notes to these accounts (44 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity triplescurrent ratio 2.00
Current ratio from 0.64 to 2.00; short-term debt falls from €151.52M to €59.58M.
23-12
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €142.90M
Net result €142.90M after one loss-making year.
31-12
Financial
Equity above €250MEq €294.20M ▲94.4%
Equity rises from €151.30M to €294.20M.
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-04
Financial
Back to profitnet €99.86M
Net result €99.86M after one loss-making year.
30-04
Financial
Liquidity quadruplescurrent ratio 3.03
Current ratio from 0.85 to 3.03; short-term debt falls from €139.74M to €52.44M.
30-04
Financial
Equity above €100MEq €127.39M ▲363%
Equity rises from €27.53M to €127.39M.
2020
30-04
Financial
Weakest financial yearnet €-1.78M ▼18026%
Net result drops to €-1.78M, the lowest in the series; recovery starts the following year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2024
Alphonsus P.L. Walder
CurrentDirector · since 11-09-2024
Guy Walder
CurrentDirector · since 11-09-2024
11-09-2024
Alphonsus P.L. Walder: Appointed as Director
11-09-2024
Guy Walder: Appointed as Director
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 1993
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kolvestraat 708000 BruggeGround area
4.0 ha
Building footprint
2.7 ha
Volume, LiDAR
120,577 m³
Parcel 31807I0016/00F000, Flanders · tallest building 11.3 m. Linked by address, not a title deed.
1 establishment unit
SWEET PRODUCTS
since 19932.060.920.891
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31807I0016/00F000 | Flanders | 4.0 ha | 1 · 2.7 ha | 11.2 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
Group per the LEI register
1 subsidiarySubsidiary:BARONIE BELGIUM
Recognitions · licences · registrations
Legal Entity Identifier
98450054DC7D069A1C73
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FERRERO ARDENNES
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Of 722 companies in sector 10820 we hold annual accounts for 349. 5 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded12-02-1993
Fiscal year end31-12
Activities, NACEBEL
10820Manufacture of cocoa, chocolate and sugar confectionery
64200Holdings
64210Activities of holding companies
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 55 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:sales@baronie.be
Phone:058/31.01.50