BATHOS
ActiveSummary
BATHOS has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.8m and a net result of €783,890. Equity has been growing by about 3.2% per year since 2019. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-11-2001 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.095.486.248 8940 Wervik, since 31-12-2001
- Financial year end
- 30 September
- Peppol
- Reachable since 21-10-2026
Board and ownership
- Isabelle TURKERYDirector
- TOBCODirector · permanent representative Frédéric BAELEN
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €1.1m
- ▲ 14×
- Turnover
- ≈ €2.0m
- estimated
- Profit
- €783,890
- ▲ 721%
- Equity
- €5.8m
- ▲ 15.5%
- Total assets
- €5.9m
- ▲ 16.2%
Score breakdownraises riskLiquidity: current ratio 106.97, cash €164,516lowers riskSize: total assets €5.9mEquity €5.8m (99.0% of total assets)Figures for financial year 2025 (filed on 18-03-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, small). It does better than 82% of them on solvency, 70% on liquidity, 76% on profitability and 81% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 59 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 10-03-2026 PDF all 23 filings
Every figure per financial year
The operating result for 2025 is over 20 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
- 2025 Net result +721% on 2024. The accounts now follow the micro format, last year the abbreviated format.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | ▲ 32.8% |
| Gross operating margin9900 | €0.5m | €0.1m | €0.3m | €0.2m | €0.1m | €0.07m | €1.1m | ▲ 14× |
| Operating profit (loss)9901 | €0.5m | €0.1m | €0.3m | €0.2m | €0.08m | €0.05m | €1.0m | ▲ 20× |
| Financial income75/76B | - | - | - | €256 | €0.04m | €0.08m | €0.02m | ▼ 68.8% |
| Recurring financial income75 | €11 | €0 | - | €256 | €0.04m | €0.08m | €0.02m | ▼ 68.8% |
| Financial charges65/66B | - | - | - | €0.004m | €45 | €45 | €0.01m | ▲ 304× |
| Recurring financial charges65 | €283 | €0.001m | €0.001m | €0.004m | €45 | €45 | €0.01m | ▲ 304× |
| Profit (loss) for the period before taxes9903 | €0.5m | €0.1m | €0.3m | €0.2m | €0.1m | €0.1m | €1.0m | ▲ 721% |
| Income taxes67/77 | €0.1m | €0.03m | €0.08m | €0.05m | €0.03m | €0.03m | €0.3m | ▲ 720% |
| Profit (loss) for the period9904 | €0.3m | €0.08m | €0.2m | €0.2m | €0.09m | €0.1m | €0.8m | ▲ 721% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.08m | €0.2m | €0.2m | €0.09m | €0.1m | €0.8m | ▲ 721% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €4.4m | €4.5m | €4.7m | €4.9m | €5.0m | €5.1m | €5.9m | ▲ 16.2% |
| Current assets29/58 | €4.4m | €4.5m | €4.7m | €4.9m | €5.0m | €5.1m | €5.9m | ▲ 16.2% |
| Stocks and contracts in progress3 | €2.3m | €3.3m | €3.2m | €3.1m | €2.6m | €2.5m | €3.9m | ▲ 53.1% |
| Stocks30/36 | - | - | - | €3.1m | €2.6m | €2.5m | €3.9m | ▲ 53.1% |
| Amounts receivable within one year40/41 | - | €0.003m | €0.002m | €0.03m | €0.02m | €0.01m | €0.01m | ▼ 7.0% |
| Trade receivables40 | - | - | - | - | - | - | €0.005m | - |
| Other amounts receivable41 | - | - | - | €0.03m | €0.02m | €0.01m | €0.006m | ▼ 47.1% |
| Current investments50/53 | - | - | - | - | €2.0m | €2.4m | €1.8m | ▼ 23.9% |
| Cash at bank and in hand54/58 | €2.1m | €1.2m | €1.5m | €1.8m | €0.3m | €0.1m | €0.2m | ▲ 34.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.02m | €0.01m | €0.01m | ▼ 7.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €4.4m | €4.5m | €4.7m | €4.9m | €5.0m | €5.1m | €5.9m | ▲ 16.2% |
| Equity10/15 | €4.4m | €4.5m | €4.7m | €4.9m | €4.9m | €5.0m | €5.8m | ▲ 15.5% |
| Contributions10/11 | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Capital10 | - | - | - | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Issued capital100 | - | - | - | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Reserves13 | €1.5m | €1.6m | €1.8m | €2.0m | €2.1m | €2.2m | €2.9m | ▲ 36.3% |
| Non-distributable reserves130/1 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Legal reserve130 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Distributable reserves133 | - | - | - | €1.7m | €1.8m | €1.9m | €2.7m | ▲ 41.9% |
| Profit (loss) carried forward14 | €432 | €104 | €0.001m | €0.002m | €0.002m | €0.003m | €0.003m | ▲ 35.1% |
| Amounts payable17/49 | €0.04m | €0.03m | €0.01m | €0.02m | €0.02m | €0.02m | €0.06m | ▲ 154% |
| Amounts payable within one year42/48 | €0.04m | €0.01m | - | €0.01m | €0 | €0.02m | €0.06m | ▲ 193% |
| Trade debts44 | €0.009m | €0.004m | - | - | - | €0.02m | €0.04m | ▲ 121% |
| Suppliers440/4 | - | - | - | - | - | €0.02m | €0.04m | ▲ 121% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0 | - | €0.004m | - |
| Taxes450/3 | - | - | - | €0.01m | €0 | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.01m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.02m | €0.005m | €0.006m | ▲ 17.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.08m | €0.2m | €0.2m | €0.09m | €0.1m | €0.8m | ▲ 721% |
| Operating cash flow (approximation) | €0.3m | €0.08m | €0.2m | €0.2m | €0.09m | €0.1m | €0.8m | ▲ 721% |
| Change in cash | - | -€0.9m | €0.3m | €0.3m | -€1.4m | -€0.2m | €0.04m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as BATHOS has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of BATHOS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 20,136 companies, not a prediction for BATHOS. 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.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 10-03-2026 | 2026-00056130 | |
| 30-09-2024 | abbreviated format | 26-02-2025 | 2025-00040629 | |
| 30-09-2023 | abbreviated format | 04-03-2024 | 2024-00039099 | |
| 30-09-2022 | abbreviated format | 02-03-2023 | 2023-00035303 | |
| 30-09-2021 | abbreviated format | 21-02-2022 | 2022-06000237 | |
| 30-09-2020 | abbreviated format | 01-03-2021 | 2021-06700488 | |
| 30-09-2019 | abbreviated format | 04-03-2020 | 2020-06200496 | |
| 30-09-2018 | micro format | 25-02-2019 | 2019-05700292 | |
| 30-09-2017 | micro format | 26-02-2018 | 2018-05700138 | |
| 30-09-2016 | abbreviated format | 28-03-2017 | 2017-07600043 |
Board & ownership
Directors
Board 2
Permanent representatives 1
Owners and capital
Shareholders
- Frédéric BAELEN all shares
Capital transactions
- 31-03-2023 Capital stated in the deed · €2,882,500 · 1,000 shares
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Isabelle TURKERY |
|
| TOBCO |
|
| Maurice BAELEN |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Enige bestuurder, algemene vergadering beslist tot 1 bestuurder”“Meerderheid aanwezig of vertegenwoordigd, raad van bestuur”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Algemene vergadering benoemt een of meer vereffenaars, bestuursorgaan in functie als college van vereffenaars”“Algemene vergadering anders bij gewone meerderheid, alle verrichtingen vermeld in wet”
Articles of association, deed of 31-03-2023 (in Dutch)
Network & group
BATHOS shares no director with another company.
Companies at the same address
2 other companiesConnections & network
2 current directorsThe network starts from the directors of BATHOS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
31-03
Gazette deed
2 directors appointed, 1 director resigningResignation: Maurice BAELEN (director) · Appointments: TOBCO (director) and Isabelle TURKERY (director) · Permanent representative: Frédéric BAELEN11 points ▸
- General meeting, 23-03-2023
- Amendment of the articles, mentioned 2 times in the deed
- Director resignation, Maurice BAELEN (director)
- Other provision, 16-03-2023
- Purpose change
- Capital, €2,882,500
- Director appointment, TOBCO (director)
- Director appointment, Isabelle TURKERY (director)
- Permanent representative, Frédéric BAELEN
- Registered office clause, “8940 Wervik,Hoogweg 78, zevende besluit met eenparigheid” (deed in Dutch)
- Frédéric BAELEN holds all the shares
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 33029B0308/00R000 | Flanders | 1,549 m² | 1 · 226 m² | 8.0 m · 2 |