BATICOUP
ActiveSummary
BATICOUP has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €451,174 and a net result of €22,958. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 73% of 7900 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+4
Solvency89▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.42 against 0.38 in 2024; short-term debt: 13.8% and cash: 3.1% of total assets), and 36.2% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
63.8%
Return on assets
3.2%
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
3 d early
2023
28 d early
2022
30 d late
2021
6 d early
2020
30 d late
2019
118 d late
← 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 17 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€451,174▲ 5.4%
2024 · €428,216
Total assets
€707,163▼ 8.4%
2024 · €772,160
Net result
€22,958▲ 14.6%
2024 · €20,042
Working capital
-€56,663▲ 14.0%
2024 · -€65,868
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€63,325▲ 0.4%€42,011▼ 33.7%€53,921▲ 28.3%€47,471▼ 12.0%€46,623▼ 1.8%
Net result€29,393above the sector's middle half▲ 18.1%€5,633within the sector's middle half▼ 80.8%€24,316within the sector's middle half▲ 332%€20,042within the sector's middle half▼ 17.6%€22,958within the sector's middle half▲ 14.6%
Equity€378,225above the sector's middle half▲ 8.4%€383,857above the sector's middle half▲ 1.5%€408,173above the sector's middle half▲ 6.3%€428,216above the sector's middle half▲ 4.9%€451,174within the sector's middle half▲ 5.4%
Total assets€946,956above the sector's middle half▼ 6.4%€887,172above the sector's middle half▼ 6.3%€828,595above the sector's middle half▼ 6.6%€772,160above the sector's middle half▼ 6.8%€707,163within the sector's middle half▼ 8.4%
Debt€568,732▼ 14.2%€503,315▼ 11.5%€420,422▼ 16.5%€343,945▼ 18.2%€255,990▼ 25.6%
Working capital-€99,626▲ 19.9%-€64,449▲ 35.3%-€61,867▲ 4.0%-€65,868▼ 6.5%-€56,663▲ 14.0%
Solvency39.9%within the sector's middle half▲ 5.5pp43.3%within the sector's middle half▲ 3.3pp49.3%within the sector's middle half▲ 6.0pp55.5%within the sector's middle half▲ 6.2pp63.8%within the sector's middle half▲ 8.3pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €707,163
Fixed assets
€666,153 ▼ 8.9%
Current assets
€41,011 ▼ 0.1%
Equity and liabilities €707,163
Equity
€451,174 ▲ 5.4%
Debt
€255,990 ▼ 25.6%
Debt's share of the balance-sheet total falls from 44.5% to 36.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€111,589▼
2024 · €112,436
Cash flow
€87,924▲
2024 · €85,007
Current ratio
0.42▲
2024 · 0.38
Debt to equity
0.57▼
2024 · 0.80
ROE
5.1%▲
2024 · 4.7%
ROA
3.2%▲
2024 · 2.6%
Interest coverage
7.29▲
2024 · 5.65
Debt ≤ 1 year
€97,674▼
2024 · €106,910
Debt > 1 year
€158,316▼
2024 · €237,035
Income taxes
€8,357▲
2024 · €7,544
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,684 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €64,965 | €64,965 | €64,965 | €64,965 | €64,965 | = |
| Other operating charges640/8 | €15,010 | €15,400 | €16,812 | €17,464 | €17,408 | ▼ 0.3% |
| Gross operating margin9900 | €143,301 | €122,376 | €135,698 | €129,900 | €128,997 | ▼ 0.7% |
| Operating profit (loss)9901 | €63,325 | €42,011 | €53,921 | €47,471 | €46,623 | ▼ 1.8% |
| Financial charges65/66B | €33,932 | €28,022 | €24,167 | €19,885 | €15,307 | ▼ 23.0% |
| Recurring financial charges65 | €33,932 | €28,022 | €24,167 | €19,885 | €15,307 | ▼ 23.0% |
| Profit (loss) for the period before taxes9903 | €29,393 | €13,989 | €29,754 | €27,586 | €31,316 | ▲ 13.5% |
| Income taxes67/77 | - | €8,357 | €5,438 | €7,544 | €8,357 | ▲ 10.8% |
| Profit (loss) for the period9904 | €29,393 | €5,633 | €24,316 | €20,042 | €22,958 | ▲ 14.6% |
| Profit (loss) for the period to be appropriated9905 | €29,393 | €5,633 | €24,316 | €20,042 | €22,958 | ▲ 14.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €946,956 | €887,172 | €828,595 | €772,160 | €707,163 | ▼ 8.4% |
| Fixed assets21/28 | €926,014 | €861,049 | €796,084 | €731,118 | €666,153 | ▼ 8.9% |
| Tangible fixed assets22/27 | €926,014 | €861,049 | €796,084 | €731,118 | €666,153 | ▼ 8.9% |
| Land and buildings22 | €926,014 | €861,049 | €796,084 | €731,118 | €666,153 | ▼ 8.9% |
| Current assets29/58 | €20,942 | €26,123 | €32,512 | €41,042 | €41,011 | ▼ 0.1% |
| Amounts receivable within one year40/41 | €97 | €18,211 | €19,916 | €35,626 | €18,930 | ▼ 46.9% |
| Other amounts receivable41 | €97 | €18,211 | €19,916 | €35,626 | €18,930 | ▼ 46.9% |
| Cash at bank and in hand54/58 | €20,846 | €7,912 | €12,595 | €5,417 | €22,080 | ▲ 308% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €946,956 | €887,172 | €828,595 | €772,160 | €707,163 | ▼ 8.4% |
| Equity10/15 | €378,225 | €383,857 | €408,173 | €428,216 | €451,174 | ▲ 5.4% |
| Contributions10/11 | €378,286 | €378,286 | €380,000 | €380,000 | €380,000 | = |
| Capital10 | €378,286 | €378,286 | €380,000 | €380,000 | €380,000 | = |
| Issued capital100 | €378,286 | €378,286 | €380,000 | €380,000 | €380,000 | = |
| Reserves13 | €1,239 | €1,239 | €2,455 | €3,457 | €4,607 | ▲ 33.3% |
| Non-distributable reserves130/1 | €1,239 | €1,239 | €2,455 | €3,457 | €4,607 | ▲ 33.3% |
| Legal reserve130 | €1,239 | €1,239 | €2,455 | €3,457 | €4,607 | ▲ 33.3% |
| Profit (loss) carried forward14 | -€1,300 | €4,332 | €25,718 | €44,758 | €66,567 | ▲ 48.7% |
| Amounts payable17/49 | €568,732 | €503,315 | €420,422 | €343,945 | €255,990 | ▼ 25.6% |
| Amounts payable after more than one year17 | €443,864 | €411,195 | €325,043 | €237,035 | €158,316 | ▼ 33.2% |
| Financial debts170/4 | €443,864 | €411,195 | €325,043 | €237,035 | €158,316 | ▼ 33.2% |
| Amounts payable within one year42/48 | €120,568 | €90,573 | €94,378 | €106,910 | €97,674 | ▼ 8.6% |
| Current portion of amounts payable after more than one year42 | €68,930 | €81,911 | €86,151 | €88,008 | €78,719 | ▼ 10.6% |
| Trade debts44 | €668 | €2,661 | €286 | €3,417 | €528 | ▼ 84.6% |
| Suppliers440/4 | €668 | €2,661 | €286 | €3,417 | €528 | ▼ 84.6% |
| Taxes, remuneration and social security45 | - | - | €7,941 | €15,484 | €18,375 | ▲ 18.7% |
| Taxes450/3 | - | - | €7,941 | €15,484 | €18,375 | ▲ 18.7% |
| Other amounts payable47/48 | €50,970 | €6,000 | - | - | €53 | - |
| Accrued charges and deferred income492/3 | €4,300 | €1,547 | €1,000 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,393 | €5,633 | €24,316 | €20,042 | €22,958 | ▲ 14.6% |
| + Depreciation and write-downs630 | €64,965 | €64,965 | €64,965 | €64,965 | €64,965 | = |
| Operating cash flow (approximation) | €94,358 | €70,598 | €89,282 | €85,007 | €87,924 | ▲ 3.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€12,933 | €4,683 | -€7,179 | €16,664 | ▲ 332% |
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
10-09
State Gazette act
Reappointments: Kristof Windels (director) and Stephanie Fierens (director)5 facts ▸
State Gazette act
Reappointments: Kristof Windels (director) and Stephanie Fierens (director)
5 facts ▸
- General meeting, 06-06-2026
- Director reappointment, Kristof Windels (director)
- Director reappointment, Stephanie Fierens (director)
- Board meeting, 06-06-2026
- Director reappointment, Kristof Windels (chair of the board and managing director)
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €5,633 ▼80.8%
Net result drops to €5,633, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €29,393 ▲18.1%
Net result €29,393, the highest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
26-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 118 days late
2019
20-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, 1 in day-to-day management
Board 2
Kristof Windels
CurrentChair of the board and managing director · Director
Stephanie Fierens
CurrentDirector
Day-to-day management 1
Kristof Windels
CurrentChair of the board and managing director
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Ingelmunster · 1 establishment unit since 1992
Ground area
605 m²
Building footprint
162 m²
Volume, LiDAR
1,109 m³
Parcel 36007D0370/00Y003, Flanders · tallest building 11.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Baticoup
since 19922.058.399.584
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007D0370/00Y003 | Flanders | 605 m² | 1 · 162 m² | 11.3 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.
Mandate history
2 people since 2026, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Kristof Windels |
|
| Stephanie Fierens |
|
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Of 3,960 companies in sector 43331 we hold annual accounts for 1,788. 1,101 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-06-1992
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447732697
Also
9925:BE0447732697
Registered
05-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.