Baumar has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.3m and a net result of €427,216, of which €342,588 non-recurring income. Equity has been growing by about 9% per year since 2019. Its solvency ranks better than 95% of 12,777 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Score breakdownraises riskLiquidity: current ratio 4.061 change of registered office in 24 monthsSize: total assets €3.5mlowers riskFounded in 1995Show the evidence
Checked score
Score 2025
Checked score
The higher the Checked score (0 to 100), the smaller the chance that the company goes bankrupt within twelve months. That chance sets the band, from Critical to Excellent, and within the band how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
71/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially stronger than 94% of small companies in retail trade (NACE 47)
Financial strength measures the balance sheet and the results with three figures out of 100 from the latest annual accounts: solvency, liquidity and profitability. It does not directly set the Checked score's band. How the company does against its sector peers on these and on growth does count for its place within the band.
Strong
Solvency100+23
equity 96.4% of total assets
Liquidity100+74
short-term debt 3.6%
Profitability84+47
return on assets 12.3%
Bankruptcy probability within 12 months
Bankruptcy probability
It is the chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. At 0.2%, about 2 in 1,000 comparable companies go bankrupt. The higher it is, the shorter the payment term to agree.
0.9%Low
0%0.5%1.5%4%10%≥ 25%
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Sector median 0.4% (3,697 companies, NACE 47, small)
Last 24 months12-2024: 1.1%01-2025: 1.2%▲ +0.1 percentage points vs 12-202402-2025: 1.7%▲ +0.5 percentage points vs 01-202503-2025: 0.7%▼ -1.0 percentage point vs 02-202504-2025: 0.7%● unchanged vs 03-202505-2025: 0.7%● unchanged vs 04-202506-2025: 1.9%▲ +1.2 percentage points vs 05-202507-2025: 1.9%● unchanged vs 06-202508-2025: 1.9%● unchanged vs 07-202509-2025: 2.2%▲ +0.3 percentage points vs 08-202510-2025: 2.3%▲ +0.1 percentage points vs 09-202511-2025: 2.4%▲ +0.1 percentage points vs 10-202512-2025: 2.5%▲ +0.1 percentage points vs 11-202501-2026: 2.6%▲ +0.1 percentage points vs 12-2025highest value02-2026: 1.7%▼ -0.9 percentage points vs 01-202603-2026: 1.7%● unchanged vs 02-202604-2026: 1.7%● unchanged vs 03-202605-2026: 1.7%● unchanged vs 04-202606-2026: 0.6%▼ -1.1 percentage points vs 05-2026lowest value07-2026: 0.6%● unchanged vs 06-2026lowest value08-2026: 0.6%● unchanged vs 07-2026lowest value09-2026: 0.7%▲ +0.1 percentage points vs 08-202610-2026: 0.9%▲ +0.2 percentage points vs 09-202611-2026: 0.9%● unchanged vs 10-2026
Credit of up to €230,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.06 (0.01 in 2024), above the usual 1.5. Short-term debt is 3.6% of total assets. 3.6% of the assets are financed with debt and provisions.
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 47, small). It does better than 95% of them on solvency, 99% on liquidity, 85% on profitability and 95% 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).
Credit check for an amount and term of your choice
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 18 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 27 January (3 of the last 3 accounts filed within 45 days either side of that date).
The EBIT margin is the share of each euro of revenue left from ordinary operations. The higher it is, the more room the company has to absorb a setback.
The net result is what is left after all costs and taxes. One loss year is not an alarm on its own. After several loss years in a row, it pays to find out why.
Working capital is what is left when the company pays its short-term debts with its short-term assets. Positive means it can pay its bills in the short term.
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%
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
abovewithinbelowThe 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
2025Net 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
85.4%
14.6%
Fixed assets€3.0m ▲ 2.1%
Current assets€507,112 ▲ 60×
Equity and liabilities €3.5m
96.4%
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
2025 value · change against 2024
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
fixed assets acquired
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
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 54 lines
Balance sheetCode20242025
Assets
Total assets20/58€2.9m€3.5m▲
Fixed assets21/28€2.9m€3.0m▲
Tangible fixed assets22/27€2.9m€3.0m▲
Land and buildings22€2.9m€2.8m▼
Plant, machinery and equipment23€57€0.1m▲
Assets under construction and advance payments27€0.03m-
Financial fixed assets28€250€0.001m▲
Current assets29/58€0.008m€0.5m▲
Amounts receivable within one year40/41€0.007m€0.5m▲
Trade receivables40€0.007m€0.006m▼
Other amounts receivable41-€0.5m
Current investments50/53-€367
Cash at bank and in hand54/58€0.001m-
Deferred charges and accrued income490/1€0.001m€0.002m▲
Equity and liabilities
Total equity and liabilities10/49€2.9m€3.5m▲
Equity10/15€1.5m€3.3m▲
Contributions10/11€0.6m€0.8m▲
Reserves13€1.3m€2.5m▲
Tax-exempt reserves132€1.0m€2.2m▲
Distributable reserves133€0.3m€0.3m▲
Profit (loss) carried forward14-€0.4m-
Provisions and deferred taxes16€0.001m€366▼
Deferred taxes168€0.001m€366▼
Amounts payable17/49€1.4m€0.1m▼
Amounts payable within one year42/48€1.4m€0.1m▼
Trade debts44€0.02m€0.03m▲
Suppliers440/4€0.02m€0.03m▲
Taxes, remuneration and social security45€0.001m-
Taxes450/3€0.001m-
Other amounts payable47/48€1.4m€0.1m▼
Accrued charges and deferred income492/3€0.007m-
Income statementCode20242025
Non-recurring operating income76A-€0.3m
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.04m€0.1m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4--€0.1m
Other operating charges640/8€0.02m€0.1m▲
Gross operating margin9900€0.2m€0.7m▲
Operating profit (loss)9901€0.1m€0.6m▲
Financial income75/76B-€0.01m
Recurring financial income75-€0.01m
Financial charges65/66B€0.09m€0.05m▼
Recurring financial charges65€0.09m€0.05m▼
Profit (loss) for the period before taxes9903€0.05m€0.5m▲
Transfer from deferred taxes780€0.001m€0.001m=
Income taxes67/77€0.02m€0.1m▲
Profit (loss) for the period9904€0.03m€0.4m▲
Transfer from tax-exempt reserves789€0.003m€0.003m=
Profit (loss) for the period to be appropriated9905€0.03m€0.4m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€0.4m€0.03m▲
Profit (loss) brought forward from the previous period14P-€0.4m-€0.4m▲
Transfer from equity791/2-€0.08m
Transfer to equity691/2-€0.03m
To other reserves6921-€0.03m
Profit to be distributed694/7-€0.08m
Directors or managers695-€0.08m
The notes to these accounts have 19 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
The figures are counted, not predicted. They describe the group, not Baumar.
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.
The companies in ten equal groups, from the lowest to the highest expected share
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.
Director · since 26-04-2025 · Private limited company · permanent representative: Bart Soetaers · also on the board of 3 other companies · listed in the 2025 annual accounts, filed on 27-01-2026
Current
Permanent representatives 2
MW
Martijn Wanten
Permanent representative · appointed in the act of 25-09-2024 · for Artas
Current
BS
Bart Soetaers
Permanent representative · appointed in the act of 19-08-2025 · for Vestra Real Estate Group
Current
Statutory auditor 1
DV
HLB Dodémont- Van Impe & C°
Statutory auditor · current term since 01-07-2023 · 3-year term from 2024 · permanent representative: Patrick Van Impe · listed in the 2025 annual accounts, filed on 27-01-2026
Equity €39.0mProfit of €291,496 in 2025 (profit of €1.9m in 2024)
100%
Capital transactions
Capital transactions
A capital increase usually strengthens the company. With a reduction, it pays to find out why.
Capital over time
10-01-2025Converted to unavailable equity · €191,692.01
22-06-2022Capital increase · to €622,997.48 · 537 new shares
Mandate history
Mandate history
Each bar is one period in a function, from appointment to resignation or to today. An open left edge means the mandate began before its first mention. An open right edge means the mandate ended without a stated end date.
Gazette deedMerger proposal: Baumar BV takes over Immo Ten Eikenen NV
Share issue · Accounting effect · Real estate14 points ▸
Merger, “fusie door overneming, fusie door overneming” (deed in Dutch), mentioned 3 times in the deed
Other provision, “wenselijkheid fusie door overneming, bestaan als onderscheiden entiteiten niet langer opportuun, onderbrenging in één entiteit via fusie door overneming” (deed in Dutch)
Other provision, “bestuursorganen Overgenomen Vennootschappen en Overnemende Vennootschap, wenselijkheid fusie door overneming” (deed in Dutch)
Share issue, “zelfde aard als bestaande, aandeelhouders Overgenomen Vennootschappen” (deed in Dutch)
Other provision, “vernietiging aandelenregisters Overgenomen Vennootschappen, vermelding vernietigd op elke bladzijde en inschrijving naast aandelenbezit met omwisseling en datum…” (deed in Dutch)
Other provision, “deelname in winst nieuwe aandelen”, 01-07-2024 (deed in Dutch)
Accounting effect, 01-07-2024
Other provision, “bijzondere rechten” (deed in Dutch)
Other provision, “afstand verslag art 12:25 eerste lid, schriftelijk en omstandig verslag omtrent fusie” (deed in Dutch)
Other provision, “afstand verslag commissaris art 12:26§1, schriftelijk verslag van de commissaris” (deed in Dutch)
Other provision, “bezoldiging commissaris art 12:26§1, geen verslaggeving opgemaakt” (deed in Dutch)
Other provision, “bijzondere voordelen bestuurders fuserende vennootschappen” (deed in Dutch)
Gazette deedDemerger: COMFORT ENERGY splits off to Baumar
Capital increase to €622,997.48 · Net-asset statement · Real estate25 points ▸
General meeting, 20-05-2022
Other provision, “verzaking mededeling belangrijke wijzigingen activa en passiva, artikelen 12:63 en 12:79 laatste alinea Wetboek van vennootschappen en verenigingen” (deed in Dutch)
Other provision, “kennisneming en bespreking stukken, aandeelhouders konden kosteloos afschrift verkrijgen” (deed in Dutch)
Other provision, “afstand splitsingsverslagen bedrijfsrevisor en bestuursorgaan, artikel 12:62 §1 laatste lid en artikel 12:65 Wetboek van Vennootschappen en verenigingen” (deed in Dutch)
Other provision, “bijzonder verslag bestuursorgaan met betrekking tot inbreng in natura” (deed in Dutch)
Other provision, “bijzonder verslag commissaris-revisor met betrekking tot inbreng in natura” (deed in Dutch)
Demerger, “inbreng in natura, partiële splitsing” (deed in Dutch)
Capital increase, €622,997.48
Share issue, 537, “aandeelhouders van de overdragende NV Comfort Energy” (deed in Dutch)
Net-asset statement, “NETTO vermogen afgesplitste vermogensbestanddelen”, 31-12-2021 (deed in Dutch)
Other provision, “eigendomsoverdracht, activa- en passivabestanddelen” (deed in Dutch)
Gazette deedDemerger proposal: Comfort Energy S.A. splits off to Baumar
Appointment: HLB Dodémont - Van Impe (statutory auditor) · Permanent representatives: Stefan Baeten, Dennis Edey and Sven Bogaerts · Purpose change87 points ▸
Purpose change
Capital, €560,000
Registered office clause, “BV Baumar” (deed in Dutch)
Other provision, “Kruispuntbank voor Ondernemingen inschrijving”, 0455.852.092 (deed in Dutch)
Other provision, “statutair onbeschikbare eigen vermogensrekening”, 615389.46 (deed in Dutch)
Incorporation, “Kempische Kaai 168,3500 Hasselt, uit de splitsing zal ontstaan,zal opgericht worden” (deed in Dutch), mentioned 2 times in the deed
Other provision, “ruilverhouding en waarderingsmethode, boekhoudkundig eigen vermogen” (deed in Dutch)
Other provision, “opleg in geld” (deed in Dutch)
Other provision, “wijze van uitreiking aandelen, voorlegging bewijs van aandeelhouderschap” (deed in Dutch)
Other provision, “winstdeelname uitgereikte aandelen”, 01-01-2022 (deed in Dutch)
Accounting effect, 01-01-2022
Other provision, “afgesloten toestand geheel vermogen actief en passief met rechten en verplichtingen, basis toestand en correcties” (deed in Dutch)
Each sentence rests on a document from the KBO register, the Belgian Official Gazette or the National Bank. The number after the sentence opens that document.
On 28 August 1995, Baumar was incorporated.1A capital increase in 2022 brought the capital to €622,997.2In 2024 the registered office moved to Hasselt.3Immo Ellikom NV, Immo Ten Eikenen NV and Vanacker-Coene BV were merged into the company in 2025.456
Registered officeHerkenrodesingel 4, 3500 Hasselt, Belgium1 former office
Steenweg 194, 3570 Alken until 01-04-2024 · act of 08-05-2024
Establishment unitHerkenrodesingel 4, 3500 Hasselt since 08-11-1995 · unit number 2.073.813.28068201 Renting and operating of own or leased residential real estate, excluding social housing
Activities
NACEBEL 2025
47300Retail sale of automotive fuelmain activity
46120Wholesale trade
Codes under NACEBEL 2008
47300Retail trademain activity
46120Wholesale trade
PurposeThe purpose describes the activities the company may carry out under its articles.
“Onderneming voor het beheer van beleggingen en vermogens; Onderneming in onroerende goederen, welke onder meer omvat: zowel voor eigen…”
11 activities
Onderneming voor het beheer van beleggingen en vermogens.
Onderneming in onroerende goederen, welke onder meer omvat: zowel voor eigen rekening als voor rekening van derden en zowel in België als in het buitenland, de verwerving, de vervreemding, het beheer, de uitbating, de valorisatie, de verkaveling, de ordening, de huur en verhuur, het doen bouwen, verbouwen en renoveren, het verwezenlijken en oprichten van alle onroerende goederen, evenals het oprichten in medeeigendom, het leasen van onroerende goederen, de procuratie, het nemen en afstaan van optierechten voor het kopen van onroerende goederen of immobiliën-vennootschappen, de expertise en agentschapsdiensten inzake onroerende goederen.
Tussenhandelaar, de makelarij evenals welkdanige onroerende verhandeling in de meest ruime zin, met inbegrip van onroerende leasing.
De participatie, onder welke vorm het ook zij, in de oprichting, ontwikkeling, omvorming en controle van alle ondernemingen, Belgische of buitenlandse, commerciële, financiële, industriële of andere, de verwerving van eender welke titel of rechten door middel van participatie, inbreng, onderschrijving, koop, aankoopoptie, verhandeling, of op iedere andere wijze.
Het nemen, bekomen, toestaan, aankopen of afstaan van alle fabrieksmerken, patenten en vergunningen.
De vennootschap mag zich borg stellen en onroerende goederen in pand geven of hypothekeren voor verbintenissen door derde personen aangegaan. Zij mag eveneens al haar andere goederen, met inbegrip van het handelsfonds, in pand geven en aval verlenen in het voordeel van derden.
Het verlenen van technische, administratieve, financiële en commerciële bijstand, in de meest ruime zin genomen, aan derden, omvat onder meer een administratiekantoor en een beheersbureau.
Het verlenen aan de ondernemingen waarin zij deelneemt, al dan niet bezoldigd, van alle bijstand, hetzij technisch commercieel, administratief of op het vlak van algemeen beheer, hetzij financieel, met inbegrip van de borgstelling, avalgeving en inpandgeving van onroerende goederen.
Het optreden als tussenpersoon bij onderhandelingen door gehele of gedeeltelijke overname van aandelen: in de meest ruime betekenis, het deelnemen aan emissieverrichtingen van aandelen en vastrentende waarden door intekening, waarborg, plaatsing, verhandeling, of anderszins, alsmede het verwezenlijken van om het even welke verrichtingen inzake portefeuille- of kapitaalbeheer.
De agentuur bij het afsluiten van verzekeringen, hypotheken, financiering en projectontwikkeling.
Tussenpersoon in de handel, zoals de makelaar in goederen, de zelfstandige handelsvertegenwoordiging-en commissionair
Bouwen of herbouwen; Het reliëf van de bodem aanmerkelijk wijzigen; Nieuwbouw of aanleggen; Nieuwe publiciteitsinrichting (met inbegrip van vernieuwen van een bestaande vergunning); Slopen of verwijderen
Granted on 12-09-2023submitted 30-05-2023authority: Merksplasproject 2022164331
Slopen van niet vrijstaande gebouwen of constructies
Granted on 29-04-2020submitted 13-03-2020authority: Alkenproject 2019157441