Equity
BATH'S has made a profit without a break since 2021.
In July 2024, 34,691 companies had the same profile as BATH'S has now. Each dot stands for 87 companies, two years later.
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,691 companies, not a prediction for BATH'S. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| BATH'S Rixensart | €62,568 | €42,046 | 63.8% | - |
| AUDITFISC Namur | €71,470 | €40,910 | 61.5% | - |
| WOOVY Liège | €71,714 | €37,167 | 68.1% | - |
| ADVYZ Wezembeek-Oppem | €68,160 | €39,261 | 49.2% | - |
| DEB ECOF Péruwelz | €59,958 | €46,849 | 45.7% | - |
| OPTI ACCOUNT Tubize | €57,870 | €29,006 | 28.0% | - |
| STAFF Bernard La Hulpe | €61,786 | €49,672 | 33.8% | - |
These companies have the same main activity as BATH'S: certified accountants and tax accountants (NACE 69201). They are comparable in size and age: total assets between €57,900 and €71,700, founded between 2006 and 2013.
BATH'S files the micro format. That format states no turnover. The gross margin rose from €24,983 in 2009 to €42,046 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €100,000. Estimated: probably between €74,000 and €140,000.
Higher than 57% of 16,409 companies in 2025.
Higher than 38% of 16,149 companies in 2025.
Higher than 45% of 16,286 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
62,568 | 67,734 | 72,869 | 59,423 | 60,845 | 64,419 | 60,417 | 53,466 | 52,489 | 72,426 | 98,724 | 77,873 | 54,793 | 67,575 | 59,459 | 77,392 | 57,852 | |
21/28 |
25,464 | 34,796 | 44,129 | - | 2,470 | 4,941 | 7,411 | 14,508 | 9,253 | 13,879 | 18,506 | - | 3,933 | 7,866 | 11,799 | 15,732 | - | |
22/27 |
25,464 | 34,796 | 44,129 | - | 2,470 | 4,941 | 7,411 | 14,508 | 9,253 | 13,879 | 18,506 | - | 3,933 | 7,866 | 11,799 | 15,732 | - | |
24 |
25,464 | 34,796 | 44,129 | - | 2,470 | - | - | - | - | - | - | - | 3,933 | 7,866 | 11,799 | 15,732 | - | |
29/58 |
37,104 | 32,937 | 28,740 | 59,423 | 58,375 | 59,478 | 53,006 | 38,958 | 43,236 | 58,546 | 80,219 | 77,873 | 50,860 | 59,709 | 47,660 | 61,660 | 57,852 | |
40/41 |
22,163 | 13,282 | 14,632 | 15,270 | 15,071 | 13,855 | 17,129 | 18,028 | 15,985 | 23,877 | 19,138 | 18,118 | 23,181 | 16,705 | 18,417 | 11,877 | 4,785 | |
40 |
18,310 | 10,528 | 12,096 | 12,068 | 13,816 | 13,855 | 17,129 | 17,137 | 15,094 | 23,877 | 19,138 | 18,118 | 23,181 | 16,705 | 18,417 | 11,676 | 4,785 | |
41 |
3,854 | 2,754 | 2,536 | 3,202 | 1,255 | - | - | 891 | 891 | - | - | - | - | - | - | 201 | - | |
54/58 |
12,923 | 18,433 | 13,050 | 43,159 | 41,587 | 44,192 | 35,876 | 20,930 | 27,251 | 34,670 | 61,080 | 59,755 | 27,679 | 43,005 | 29,243 | 49,783 | 53,067 | |
490/1 |
2,018 | 1,222 | 1,059 | 994 | 1,717 | 1,431 | - | - | - | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
62,568 | 67,734 | 72,869 | 59,423 | 60,845 | 64,419 | 60,417 | 53,466 | 52,489 | 72,426 | 98,724 | 77,873 | 54,793 | 67,575 | 59,459 | 77,392 | 57,852 | |
10/15 |
39,921 | 29,995 | 30,436 | 32,858 | 31,329 | 30,519 | 33,603 | 31,775 | 24,687 | 14,365 | 34,310 | 14,965 | 32,832 | 14,727 | 34,124 | 14,337 | 30,764 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
10 |
- | - | 12,400 | 12,400 | 12,400 | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
- | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
19,223 | 9,297 | 9,738 | 12,160 | 10,660 | 10,660 | 10,660 | 8,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
133 |
19,223 | 9,297 | 7,878 | 10,300 | 8,800 | 8,800 | 8,800 | 7,000 | - | - | - | - | - | - | - | - | - | |
14 |
8,298 | 8,298 | 8,298 | 8,298 | 8,269 | 7,459 | 10,543 | 10,515 | 10,427 | 105 | 20,050 | 705 | 18,572 | 467 | 19,864 | 77 | 16,504 | |
17/49 |
22,647 | 37,738 | 42,433 | 26,564 | 29,516 | 33,899 | 26,815 | 21,692 | 27,802 | 58,061 | 64,414 | 62,908 | 21,961 | 52,848 | 25,336 | 63,055 | 27,088 | |
17 |
- | - | - | - | - | - | - | - | - | 1,764 | 8,941 | - | - | - | - | - | - | |
170/4 |
- | - | - | - | - | - | - | - | - | 1,764 | 8,941 | - | - | - | - | - | - | |
42/48 |
22,647 | 37,738 | 42,020 | 26,564 | 29,516 | 33,899 | 26,815 | 21,692 | 27,802 | 56,297 | 55,473 | 62,908 | 21,961 | 52,848 | 25,336 | 63,055 | 27,088 | |
42 |
- | - | - | - | - | - | - | - | 1,764 | 7,177 | 7,177 | - | - | - | - | - | - | |
44 |
181 | 174 | 2,008 | 1,009 | 248 | 192 | - | - | 226 | 575 | 53 | 193 | - | 58 | 253 | 111 | - | |
440/4 |
181 | 174 | 2,008 | 1,009 | 248 | 192 | - | - | 226 | 575 | 53 | 193 | - | 58 | 253 | 111 | - | |
45 |
11,205 | 9,054 | 11,084 | 9,029 | 8,747 | 12,886 | 8,512 | 5,639 | 7,558 | 7,457 | 16,562 | 20,000 | 11,633 | 7,253 | 19,215 | 20,123 | 17,425 | |
450/3 |
5,847 | 6,405 | 7,399 | 6,847 | 6,758 | 8,466 | 5,852 | 3,840 | 6,838 | 6,957 | 16,562 | 20,000 | 11,633 | 5,753 | 17,715 | 20,123 | 17,425 | |
454/9 |
5,358 | 2,649 | 3,684 | 2,181 | 1,989 | 4,420 | 2,660 | 1,799 | 719 | 500 | - | - | - | 1,500 | 1,500 | - | - | |
47/48 |
11,261 | 28,510 | 28,928 | 16,526 | 20,521 | 20,822 | 18,302 | 16,053 | 18,255 | 41,087 | 31,682 | 42,715 | 10,328 | 45,538 | 5,868 | 42,821 | 9,663 | |
492/3 |
- | - | 413 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||
9900 |
42,046 | 31,191 | 31,221 | 22,150 | 18,409 | 14,674 | 24,536 | 32,352 | 22,450 | 15,138 | 32,558 | 33,458 | 29,714 | 28,380 | 32,282 | 24,118 | 24,983 | |
62 |
18,190 | 18,075 | 17,410 | 14,551 | 13,001 | 12,807 | 12,339 | 12,616 | 1,983 | - | - | - | - | - | - | - | - | |
630 |
9,332 | 9,332 | 2,533 | 2,470 | 2,470 | 2,470 | 7,097 | 7,097 | 4,626 | 4,626 | 4,626 | 3,933 | 3,933 | 3,933 | 3,933 | 3,933 | - | |
640/8 |
633 | 782 | 1,126 | 1,109 | 944 | 856 | 827 | 1,057 | 623 | 1,165 | 848 | 669 | 611 | 664 | 656 | 719 | 438 | |
9901 |
13,891 | 3,001 | 10,152 | 4,020 | 1,993 | -1,459 | 4,273 | 11,583 | 15,217 | 9,347 | 27,083 | 28,855 | 25,169 | 23,783 | 27,693 | 19,466 | 24,546 | |
75/76B |
75 | 89 | - | 14 | 1 | 13 | 28 | 22 | 157 | 129 | 185 | 33 | 150 | 250 | 718 | 641 | 457 | |
75 |
75 | 89 | - | 14 | 1 | 13 | 28 | 22 | 157 | 129 | 185 | 33 | 150 | 250 | 718 | 641 | 457 | |
65/66B |
216 | 118 | 1,156 | 1,312 | 939 | 1,405 | 1,070 | 1,032 | 938 | 1,223 | 1,351 | 528 | 560 | 468 | 1,280 | 961 | 25 | |
65 |
216 | 118 | 1,156 | 1,312 | 939 | 1,405 | 1,070 | 1,032 | 938 | 1,223 | 1,351 | 528 | 560 | 468 | 1,280 | 961 | 25 | |
9903 |
13,751 | 2,972 | 8,996 | 2,722 | 1,056 | -2,851 | 3,231 | 10,573 | 14,436 | 8,253 | 25,917 | 28,360 | 24,759 | 23,565 | 27,131 | 19,146 | 24,977 | |
67/77 |
3,825 | 1,613 | 4,418 | 1,193 | 246 | 232 | 1,403 | 3,485 | 4,114 | 3,198 | 6,572 | 10,226 | 6,654 | 7,962 | 7,344 | 6,573 | 6,613 | |
9904 |
9,926 | 1,359 | 4,578 | 1,529 | 810 | -3,083 | 1,828 | 7,088 | 10,322 | 5,055 | 19,345 | 18,133 | 18,105 | 15,603 | 19,787 | 12,573 | 18,364 | |
9905 |
9,926 | 1,359 | 4,578 | 1,529 | 810 | -3,083 | 1,828 | 7,088 | 10,322 | 5,055 | 19,345 | 18,133 | 18,105 | 15,603 | 19,787 | 12,573 | 18,364 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
18,224 | 9,657 | 12,876 | 9,798 | 8,269 | 7,459 | 12,343 | 17,515 | 10,427 | 25,105 | 20,050 | 36,705 | 18,572 | 35,467 | 19,864 | 29,077 | 18,364 | |
14P |
8,298 | 8,298 | 8,298 | 8,269 | 7,459 | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | 1,800 | 7,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
9,926 | 1,359 | 4,578 | 1,500 | - | - | 1,800 | 7,000 | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
9,926 | 1,359 | 4,578 | 1,500 | - | - | 1,800 | 7,000 | - | - | - | - | - | - | - | - | - | |
694/7 |
- | 1,800 | 7,000 | - | - | - | - | - | - | 25,000 | - | 36,000 | - | 35,000 | - | 29,000 | - | |
694 |
- | 1,800 | 7,000 | - | - | - | - | - | - | 25,000 | - | 36,000 | - | 35,000 | - | 29,000 | - | |
| Social balance sheet | ||||||||||||||||||
9087 |
1 | 1 | - | 1 | - | - | - | 0.5 | 0.1 | - | - | - | - | - | - | - | - | |
Hours worked1013 |
225 | 232 | - | 850 | - | - | - | 198 | 160 | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00366468 | |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00396924 | |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00445808 | |
| 31-12-2022 | micro format | 25-08-2023 | 2023-00365192 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20390866 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-66000440 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-50600422 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-60200338 | |
| 31-12-2017 | micro format | 30-08-2018 | 2018-60300101 | |
| 31-12-2016 | full format | 25-07-2017 | 2017-36300520 | |
| 31-12-2015 | full format | 31-08-2016 | 2016-55900073 | |
| 31-12-2014 | full format | 21-08-2015 | 2015-45200516 | |
| 31-12-2013 | full format | 27-08-2014 | 2014-50700103 | |
| 31-12-2012 | full format | 11-07-2013 | 2013-30000198 | |
| 31-12-2011 | full format | 21-08-2012 | 2012-44800267 | |
| 31-12-2010 | full format | 31-08-2011 | 2011-52800556 | |
| 31-12-2009 | full format | 31-08-2010 | 2010-52900550 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23,223 | 12,334 | 12,685 | 6,491 | 4,463 | 1,011 | 11,370 | 18,680 | 19,844 | 13,973 | 31,709 | 32,788 | 29,102 | 27,716 | 31,626 | 23,399 | - | ||
| 19,258 | 10,691 | 7,111 | 3,999 | 3,281 | -613 | 8,925 | 14,185 | 14,948 | 9,681 | 23,972 | 22,066 | 22,038 | 19,536 | 23,720 | 16,506 | - | ||
| 0 | 0 | 46,662 | 0 | 0 | 0 | 0 | 12,352 | 0 | 0 | 23,132 | 0 | 0 | 0 | 0 | 19,666 | - | ||
| -5,510 | 5,383 | -30,109 | 1,571 | -2,605 | 8,316 | 14,946 | -6,321 | -7,419 | -26,411 | 1,325 | 32,076 | -15,326 | 13,762 | -20,540 | -3,284 | - | ||
| 14,457 | -4,801 | -13,279 | 32,858 | 28,859 | 25,578 | 26,191 | 17,266 | 15,434 | 2,250 | 24,745 | 14,965 | 28,899 | 6,861 | 22,324 | -1,396 | 30,764 | ||
| 63.8% | 44.3% | 41.8% | 55.3% | 51.5% | 47.4% | 55.6% | 59.4% | 47.0% | 19.8% | 34.8% | 19.2% | 59.9% | 21.8% | 57.4% | 18.5% | 53.2% | ||
| 1.64 | 0.87 | 0.68 | 2.24 | 1.98 | 1.75 | 1.98 | 1.80 | 1.56 | 1.04 | 1.45 | 1.24 | 2.32 | 1.13 | 1.88 | 0.98 | 2.14 | ||
| 0.57 | 1.26 | 1.39 | 0.81 | 0.94 | 1.11 | 0.80 | 0.68 | 1.13 | 4.04 | 1.88 | 4.20 | 0.67 | 3.59 | 0.74 | 4.40 | 0.88 | ||
| 24.9% | 4.5% | 15.0% | 4.7% | 2.6% | -10.1% | 5.4% | 22.3% | 41.8% | 35.2% | 56.4% | 121.2% | 55.1% | 105.9% | 58.0% | 87.7% | 59.7% | ||
| 15.9% | 2.0% | 6.3% | 2.6% | 1.3% | -4.8% | 3.0% | 13.3% | 19.7% | 7.0% | 19.6% | 23.3% | 33.0% | 23.1% | 33.3% | 16.2% | 31.7% | ||
| over 100 | over 100 | 10.98 | 4.95 | 4.75 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2022 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | - | 1 | - |
| part-time | 1 | - | 1 |
| in full-time equivalents | 0.5 | 1 | 0.5 |
| 0.5 | 0.5 | 0.5 | |
| On a permanent contract | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €46,662 | - | - |
| €9,332 | €9,332 | €2,533 | €2,470 | €2,470 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is over 4.6 times that of 2024 and the highest since 2017. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 55.7% to 36.2%. Equity is higher and debt is lower.
BATH'S has no parent and no holdings in its annual accounts. is the only director. BATH'S shares no director with another company.
| Tellier, Nicolas (sole trader)
establishment since 01-01-2011 |
founded in 2018 0845.071.720 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Avenue des Anémones 1 registered office 1330 Rixensart | 01-02-2009 | 2.186.272.508 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25091A0344/00D000 | 734 m² | 1 · 89 m² | 7.8 m · 2 |
If something looks wrong or is missing, please tell us.