Equity
€11,261 ▼ 58.8%
BAUDBAG paid out €28,194 in dividends. That is 233% of the 2025 profit.
BAUDBAG
Lifetime
13 annual accounts with figures on one time axispeak €28,727 (2022)
€20,076▲ 158%
lowest -€23,635 (2023)
€12,110▲ 360%
peak €48,347 (2022)
€11,261▼ 58.8%
€44,528▲ 187%
Board1 name since 2021
1 directorGODFIRNON Baudouin
Documentsfilings and deeds
17-08-202617 days late
2025micro format
Gross margin from €7,768 to €20,076Result from €2,633 to €12,110Dividend €28,194Equity from €27,345 to €11,261Debts from €15,527 to €44,528Cash from €3,205 to €18,549
Key points
from the 2025 annual accountsChecked score
88
Excellent
Financially stronger than 43% of micro companies in travel agencies (NACE 79)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 1,004 companies (NACE 79, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.7%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.3%▼ -0.4 percentage points vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.2%▼ -0.1 percentage points vs 02-2026
04-2026: 0.3%▲ +0.1 percentage points vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.7%▲ +0.4 percentage points vs 07-2026
09-2026: 0.2%▼ -0.5 percentage points vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Size: total assets €55,789
Equity €11,261 (20.2% of total assets)
lowers risk
Founded in 2012
Liquidity: current ratio 1.15, cash €18,549
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 (NACE 79, micro). It does better than 32% of them on solvency, 45% on liquidity, 87% on profitability and 8% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 5,053 companies had the same profile as BAUDBAG has now. Each dot stands for 13 companies, two years later.
95.9%
were still trading
2.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BAUDBAG itself is lower: 0.2% within 12 months. It rests on far more data about BAUDBAG than the profile alone.
Test of the method
The method was tested on the 497,447 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 5,053 companies, not a prediction for BAUDBAG. 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.
Credit verdict
Credit of up to €500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.15 (1.73 in 2024), below the usual 1.5. Short-term debt is 66.9% and cash 33.2% of total assets. 79.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 17 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
17 days late
2024
24 days early
2023
70 days early
2022
3 days late
2021
33 days early
2020
31 days late
2019
26 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 7 days before the deadline. In the sector (NACE 79), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 July (4 of the last 5 accounts filed within 41 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0848308847
Resignation: GODFIRNON Baudouin (manager)
Reappointment: GODFIRNON Baudouin (director) · Director discharge: GODFIRNON Baudouin · Gazette deed
Registered office moved from Verviers to Liège
New registered office: rue Hemricourt 37 bte 1 à 4000 Liège · Previous registered office: rue du Manège 14, 4800 Verviers, Belgique · General meeting of 28-03-2022 · Gazette deed
Registered office moved from Ougrée to Verviers
New registered office: Rue du Manège 14 à 4800 Verviers · Previous registered office: QUAI LOUVA 21, 4102 Ougrée, Belgique · General meeting of 02-01-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BAUDBAG Liège | €55,789 | €20,076 | 20.2% | - |
| AMS Groupe Beauraing | €57,331 | €18,255 | 4.4% | - |
| Docteur Stefan CONSTANTINESCU Woluwe-Saint-Pierre | €49,191 | €29,097 | 80.2% | - |
| QUINTESSENCE QUALITE Woluwe-Saint-Lambert | €62,479 | €24,474 | 45.3% | - |
| PCK ROCHE La Louvière | €51,021 | €32,613 | 51.4% | - |
| ENTRÉPICURIENS Neupré | €53,374 | €9,720 | -13.4% | - |
| Sunsky Belgium Heusden-Zolder | €76,041 | €37,695 | 86.5% | - |
These companies have the same main activity as BAUDBAG: travel agency activities (NACE 79110). They are comparable in size and age: total assets between €49,200 and €76,000, founded between 2009 and 2016.
Official details
Source: KBO- Status
- Active since 30-08-2012Normal situation
- Activity
- Travel agency activitiesNACE 79110and 5 others
- Establishment unit
- 2.212.822.2974000 Liège, since 01-09-2012
- Financial year end
- 31 December
- Peppol
- Reachable since 26-06-2025
Insights on BAUDBAG
BAUDBAG files the micro format. That format states no turnover. The gross margin rose from €8,919 in 2013 to €20,076 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BAUDBAG
- What is the company number of BAUDBAG?
- The company number of BAUDBAG is 0848.308.847. The VAT number is the same number with BE in front: BE 0848.308.847.
- Where is BAUDBAG based?
- The registered office is at Rue Hemricourt 37, 4000 Liège.Company details
- What does BAUDBAG do?
- According to the KBO register, the main activity is travel agency activities (NACE 79110).
- What is the legal form of BAUDBAG?
- BAUDBAG is a private limited company (BV).
- When was BAUDBAG founded?
- BAUDBAG was founded on 30-08-2012.
- Is BAUDBAG still active?
- Yes, BAUDBAG is an active enterprise in the KBO register.
- What is the turnover of BAUDBAG?
- The turnover in financial year 2025 is ≈ €150,000. This figure is estimated from the gross margin of €20,076 and 6,297 comparable companies of the same size. It probably lies between €70,000 and €370,000. It is a rough estimate. In financial year 2021 turnover was €61,960.Financials
- Is BAUDBAG profitable?
- In financial year 2025, BAUDBAG made a profit of €12,110.
- Where can I find the annual accounts of BAUDBAG?
- BAUDBAG filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BAUDBAG due?
- BAUDBAG must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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