Baumar
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 27-01-2026 PDF all 29 filings
Turnover
€286,060
EBIT margin
74.9%
Net result
€427,216▲ 17×
2024 · €25,385
Working capital
€382,130
2024 · -€1.4m
Multi-year overview
2019 to 2025, 6 financial yearsTurnover
no figure
2025
20192025
Operating result
€575,054
▲ 319%
2025
20192025
Net result
€427,216
▲ 17×
2025
highest quarter of the sector
20192025
EBIT margin
no figure
2025
20192025
Equity
€3.3m
▲ 122%
2025
highest quarter of the sector
20192025
Total assets
€3.5m
▲ 19.2%
2025
highest quarter of the sector
20192025
Debt
€124,982
▼ 91.1%
2025
20192025
Working capital
€382,130
2025
middle half of the sector
20192025
Solvency
96.4%
▲ 44.5pp
2025
highest quarter of the sector
20192025
Current ratio
4.06
▲ 4.05
2025
highest quarter of the sector
20192025
Return on assets (ROA)
12.3%
▲ 11.4pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202320242025
Turnover€0.3m-
Operating result€0.2m-€0.2m▲ 14.5%€0.3m▲ 21.1%€0.2m-€0.1m▼ 29.8%€0.6m▲ 319%
Net result€0.06m-€0.1mabove the sector's middle half▲ 128%€0.2mabove the sector's middle half▲ 29.6%€0.08mwithin the sector's middle half-€0.03mwithin the sector's middle half▼ 69.8%€0.4mabove the sector's middle half▲ 17×
EBIT margin74.9%-
Equity€1.1m-€1.2mabove the sector's middle half▲ 12.5%€1.2mabove the sector's middle half▼ 0.1%€1.5mabove the sector's middle half-€1.5mabove the sector's middle half▲ 1.7%€3.3mabove the sector's middle half▲ 122%
Total assets€4.4m-€4.2mabove the sector's middle half▼ 4.1%€4.1mabove the sector's middle half▼ 2.7%€2.9mabove the sector's middle half-€2.9mabove the sector's middle half▼ 1.1%€3.5mabove the sector's middle half▲ 19.2%
Debt€3.3m-€3.0m▼ 8.6%€2.9m▼ 3.7%€1.5m-€1.4m▼ 3.8%€0.1m▼ 91.1%
Working capital-€1.9m--€1.7mbelow the sector's middle half▲ 10.5%-€1.6mbelow the sector's middle half▲ 4.5%-€1.4mbelow the sector's middle half--€1.4mbelow the sector's middle half▲ 3.6%€0.4mwithin the sector's middle half
Solvency24.0%-28.2%within the sector's middle half▲ 4.2pp29.0%within the sector's middle half▲ 0.8pp50.4%within the sector's middle half-51.8%within the sector's middle half▲ 1.4pp96.4%above the sector's middle half▲ 44.5pp
Current ratio0.43-0.45below the sector's middle half▲ 0.010.45below the sector's middle half=0.01below the sector's middle half-0.01below the sector's middle half=4.06above the sector's middle half▲ 4.05
Return on assets (ROA)1.3%-3.1%within the sector's middle half▲ 1.8pp4.2%within the sector's middle half▲ 1.0pp2.9%within the sector's middle half-0.9%within the sector's middle half▼ 2.0pp12.3%above the sector's middle half▲ 11.4pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 4.2 times that of 2024 and the highest since 2020. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Net result +1,583%, Equity +122% on 2024. Merger absorbing Immo Ellikom NV, Official Gazette 10-01-2025. Merger absorbing Immo Ten Eikenen NV, Official Gazette 10-01-2025.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.5m
Fixed assets
€3.0m ▲ 2.1%
Current assets
€507,112 ▲ 60×
Equity and liabilities €3.5m
Equity
€3.3m ▲ 122%
Provisions
€366 ▼ 73.3%
Debt
€124,982 ▼ 91.1%
Debt's share of the balance-sheet total falls from 48.1% to 3.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€698,088▲
2024 · €178,928
Cash flow
€550,250▲
2024 · €67,029
Debt to equity
0.04▼
2024 · 0.93
ROE
12.8%▲
2024 · 1.7%
Interest coverage
14.89▲
2024 · 2.01
Debt ≤ 1 year
€124,982▼
2024 · €1.4m
Income taxes
€116,517▲
2024 · €24,066
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €8,186 | €770,177 | €13,508 | €3.6m |
| Intangible fixed assets | - | - | - | €4,630 |
| Financial fixed assets | - | - | €250 | - |
| Depreciation and write-downs of the year | €85,119 | €88,208 | €41,644 | €123,034 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €286,060 | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €342,588 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €112,297 | €98,297 | €85,119 | €88,208 | €41,644 | €123,034 | ▲ 195% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | -€95,121 | - |
| Other operating charges640/8 | - | - | €13,303 | €22,733 | €18,347 | €122,385 | ▲ 567% |
| Gross operating margin9900 | €349,181 | €367,619 | €395,507 | €306,558 | €197,275 | €725,352 | ▲ 268% |
| Operating profit (loss)9901 | €214,268 | €245,381 | €297,085 | €195,616 | €137,284 | €575,054 | ▲ 319% |
| Financial income75/76B | - | - | - | €2,853 | - | €14,571 | - |
| Recurring financial income75 | €526 | €383 | - | €2,853 | - | €14,571 | - |
| Financial charges65/66B | - | - | €72,079 | €88,936 | €88,838 | €46,896 | ▼ 47.2% |
| Recurring financial charges65 | €126,322 | €83,096 | €72,079 | €88,936 | €88,838 | €46,896 | ▼ 47.2% |
| Profit (loss) for the period before taxes9903 | €88,472 | €162,669 | €225,007 | €109,533 | €48,446 | €542,729 | ▲ 11× |
| Transfer from deferred taxes780 | - | - | €1,005 | €1,507 | €1,005 | €1,005 | = |
| Income taxes67/77 | €72,654 | €59,360 | €56,721 | €27,030 | €24,066 | €116,517 | ▲ 384% |
| Profit (loss) for the period9904 | €57,262 | €130,670 | €169,291 | €84,010 | €25,385 | €427,216 | ▲ 17× |
| Transfer from tax-exempt reserves789 | - | - | €3,015 | €4,522 | €3,015 | €3,015 | = |
| Profit (loss) for the period to be appropriated9905 | -€886,724 | €196,428 | €172,305 | €88,532 | €28,400 | €430,231 | ▲ 15× |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €4.4m | €4.2m | €4.1m | €2.9m | €2.9m | €3.5m | ▲ 19.2% |
| Fixed assets21/28 | €2.9m | €2.9m | €2.8m | €2.9m | €2.9m | €3.0m | ▲ 2.1% |
| Intangible fixed assets21 | €0.007m | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €2.9m | €2.9m | €2.8m | €2.9m | €2.9m | €3.0m | ▲ 2.0% |
| Land and buildings22 | - | - | €2.8m | €2.9m | €2.9m | €2.8m | ▼ 0.8% |
| Plant, machinery and equipment23 | - | - | €0.02m | €0.001m | €57 | €0.1m | ▲ 1,974× |
| Assets under construction and advance payments27 | - | - | - | €0.03m | €0.03m | - | - |
| Financial fixed assets28 | - | - | - | - | €250 | €0.001m | ▲ 378% |
| Current assets29/58 | €1.4m | €1.3m | €1.3m | €0.01m | €0.008m | €0.5m | ▲ 60× |
| Amounts receivable within one year40/41 | €1.3m | €1.3m | €1.3m | €0.009m | €0.007m | €0.5m | ▲ 77× |
| Trade receivables40 | - | - | €0.06m | €0.006m | €0.007m | €0.006m | ▼ 1.9% |
| Other amounts receivable41 | - | - | €1.2m | €0.003m | - | €0.5m | - |
| Current investments50/53 | - | - | - | - | - | €367 | - |
| Cash at bank and in hand54/58 | €0.1m | €0.08m | €0.02m | €0.002m | €0.001m | - | - |
| Deferred charges and accrued income490/1 | - | - | €115 | €0.001m | €0.001m | €0.002m | ▲ 58.2% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €4.4m | €4.2m | €4.1m | €2.9m | €2.9m | €3.5m | ▲ 19.2% |
| Equity10/15 | €1.1m | €1.2m | €1.2m | €1.5m | €1.5m | €3.3m | ▲ 122% |
| Contributions10/11 | - | - | €0.6m | €0.6m | €0.6m | €0.8m | ▲ 30.8% |
| Reserves13 | €1.3m | €1.3m | €1.1m | €1.3m | €1.3m | €2.5m | ▲ 96.5% |
| Non-distributable reserves130/1 | - | - | €0.02m | €0.001m | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.02m | €0.001m | - | - | - |
| Tax-exempt reserves132 | - | - | €1.0m | €1.0m | €1.0m | €2.2m | ▲ 113% |
| Distributable reserves133 | - | - | €0.05m | €0.3m | €0.3m | €0.3m | ▲ 29.9% |
| Profit (loss) carried forward14 | -€0.9m | -€0.7m | -€0.5m | -€0.4m | -€0.4m | - | - |
| Provisions and deferred taxes16 | €0.03m | €0.005m | €0.004m | €0.002m | €0.001m | €366 | ▼ 73.3% |
| Deferred taxes168 | - | - | €0.004m | €0.002m | €0.001m | €366 | ▼ 73.3% |
| Amounts payable17/49 | €3.3m | €3.0m | €2.9m | €1.5m | €1.4m | €0.1m | ▼ 91.1% |
| Amounts payable within one year42/48 | €3.3m | €3.0m | €2.9m | €1.4m | €1.4m | €0.1m | ▼ 91.0% |
| Trade debts44 | €0.01m | €0.01m | €0.009m | €0.02m | €0.02m | €0.03m | ▲ 29.1% |
| Suppliers440/4 | - | - | €0.009m | €0.02m | €0.02m | €0.03m | ▲ 29.1% |
| Taxes, remuneration and social security45 | - | - | €0.02m | €0.001m | €0.001m | - | - |
| Taxes450/3 | - | - | €0.01m | €0.001m | €0.001m | - | - |
| Remuneration and social security454/9 | - | - | €0.004m | - | - | - | - |
| Other amounts payable47/48 | - | - | €2.9m | €1.4m | €1.4m | €0.1m | ▼ 93.1% |
| Accrued charges and deferred income492/3 | - | - | €0.006m | €0.007m | €0.007m | - | - |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,262 | €130,670 | €169,291 | €84,010 | €25,385 | €427,216 | ▲ 17× |
| + Depreciation and write-downs630 | €112,297 | €98,297 | €85,119 | €88,208 | €41,644 | €123,034 | ▲ 195% |
| Operating cash flow (approximation) | €169,559 | €228,967 | €254,410 | €172,219 | €67,029 | €550,250 | ▲ 721% |
| Investment in fixed assets (approximation) | - | €0 | -€8,186 | - | -€13,758 | -€183,145 | ▼ 1,231% |
| Change in cash | - | -€42,124 | -€57,965 | - | -€1,209 | - | - |
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 Baumar 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
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
The bankruptcy probability of Baumar itself is higher: 0.9% within 12 months. It rests on far more data about Baumar than the profile alone.
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 Baumar. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 27-01-2026 | 2026-00016321 | |
| 30-06-2024 | abbreviated format | 10-02-2025 | 2025-00033178 | |
| 30-06-2023 | abbreviated format | 13-12-2023 | 2023-00527226 | |
| 31-12-2021 | abbreviated format | 27-06-2022 | 2022-20146272 | |
| 31-12-2020 | abbreviated format | 24-06-2021 | 2021-24200263 | |
| 31-12-2019 | abbreviated format | 01-07-2020 | 2020-26100368 | |
| 30-09-2018 | abbreviated format | 21-05-2019 | 2019-13900089 | |
| 30-09-2017 | micro format | 30-01-2018 | 2018-03000521 | |
| 30-09-2016 | abbreviated format | 28-03-2017 | 2017-07300268 | |
| 30-09-2015 | abbreviated format | 30-03-2016 | 2016-09100397 |