BAUSAC
ActiveSummary
BAUSAC has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €314,006 and a net result of €30,155. Equity is growing by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 91% of 59 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability79▼-5
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 6.97 against 5.97 in 2023; short-term debt: 13.3% and cash: 40.6% of total assets), and 13.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 17
Relative position
BE, all sectors
reference
Manufacture of paper and paper products (NACE 17)
about 49% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-09-2025, 39 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
39 d late
2023
32 d early
2022
17 d late
2021
4 d late
2020
30 d late
2019
20 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 13 days after the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
In the rankings
#5 oldest company in Saint-Ghislain, Manufacturing sector
Equity
€314,006▲ 10.6%
2023 · €283,851
Total assets
€362,104▲ 6.6%
2023 · €339,844
Net result
€30,155▼ 28.7%
2023 · €42,282
Working capital
€287,357▲ 3.2%
2023 · €278,522
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€18,519▲ 2,523%€13,550▼ 26.8%€22,315▲ 64.7%€59,791▲ 168%€41,877▼ 30.0%
Net result€14,623▲ 531%€13,316▼ 8.9%€20,563▲ 54.4%€42,282▲ 106%€30,155▼ 28.7%
Equity€242,290▲ 6.4%€255,606▲ 5.5%€260,169▲ 1.8%€283,851▲ 9.1%€314,006▲ 10.6%
Total assets€276,471▲ 6.9%€297,039▲ 7.4%€339,007▲ 14.1%€339,844▲ 0.2%€362,104▲ 6.6%
Debt€34,180▲ 10.4%€41,433▲ 21.2%€78,838▲ 90.3%€55,993▼ 29.0%€48,098▼ 14.1%
Working capital€233,065▲ 8.4%€243,190▲ 4.3%€251,296▲ 3.3%€278,522▲ 10.8%€287,357▲ 3.2%
Staff (FTE)0.51▲ 100%1=1=1=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 30% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €362,104
Fixed assets
€26,649 ▲ 400%
Current assets
€335,456 ▲ 0.3%
Equity and liabilities €362,104
Equity
€314,006 ▲ 10.6%
Debt
€48,098 ▼ 14.1%
Debt's share of the balance-sheet total falls from 16.5% to 13.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46,557▼
2023 · €63,335
Cash flow
€34,835▼
2023 · €45,826
Current ratio
6.97▲
2023 · 5.97
Quick ratio
4.26▲
2023 · 3.56
Debt to equity
0.15▼
2023 · 0.20
ROE
9.6%▼
2023 · 14.9%
ROA
8.3%▼
2023 · 12.4%
Interest coverage
83.04▼
2023 · 207.29
Debt ≤ 1 year
€48,098▼
2023 · €55,993
Income taxes
€13,732▼
2023 · €18,152
Staff costs
€33,492▼
2023 · €35,123
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
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 0.5% 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 31,324 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,700 | - |
| Remuneration, social security and pensions62 | - | €33,164 | €33,720 | €35,123 | €33,492 | ▼ 4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,100 | €3,154 | €3,544 | €3,544 | €4,680 | ▲ 32.1% |
| Other operating charges640/8 | - | €164 | €688 | €669 | €984 | ▲ 47.0% |
| Gross operating margin9900 | €45,830 | €50,031 | €60,267 | €99,127 | €81,033 | ▼ 18.3% |
| Operating profit (loss)9901 | €18,519 | €13,550 | €22,315 | €59,791 | €41,877 | ▼ 30.0% |
| Financial income75/76B | - | €5,461 | €4,827 | €949 | €2,570 | ▲ 171% |
| Recurring financial income75 | €2,467 | €5,461 | €4,694 | €949 | €2,570 | ▲ 171% |
| Non-recurring financial income76B | - | - | €133 | - | - | - |
| Financial charges65/66B | - | €436 | €209 | €306 | €561 | ▲ 83.5% |
| Recurring financial charges65 | €761 | €436 | €209 | €306 | €561 | ▲ 83.5% |
| Profit (loss) for the period before taxes9903 | €20,224 | €18,575 | €26,933 | €60,434 | €43,887 | ▼ 27.4% |
| Income taxes67/77 | €5,601 | €5,259 | €6,370 | €18,152 | €13,732 | ▼ 24.3% |
| Profit (loss) for the period9904 | €14,623 | €13,316 | €20,563 | €42,282 | €30,155 | ▼ 28.7% |
| Profit (loss) for the period to be appropriated9905 | €14,623 | €13,316 | €20,563 | €42,282 | €30,155 | ▼ 28.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €276,471 | €297,039 | €339,007 | €339,844 | €362,104 | ▲ 6.6% |
| Fixed assets21/28 | €9,226 | €12,416 | €8,873 | €5,329 | €26,649 | ▲ 400% |
| Tangible fixed assets22/27 | €9,226 | €12,416 | €8,873 | €5,329 | €26,649 | ▲ 400% |
| Plant, machinery and equipment23 | - | €12,416 | €8,873 | €5,329 | €10,099 | ▲ 89.5% |
| Furniture and vehicles24 | - | - | - | - | €16,550 | - |
| Current assets29/58 | €267,245 | €284,623 | €330,134 | €334,516 | €335,456 | ▲ 0.3% |
| Stocks and contracts in progress3 | €134,245 | €163,244 | €168,756 | €135,280 | €130,645 | ▼ 3.4% |
| Stocks30/36 | - | €163,244 | €168,756 | €135,280 | €130,645 | ▼ 3.4% |
| Amounts receivable within one year40/41 | €40,616 | €48,325 | €62,430 | €52,378 | €55,270 | ▲ 5.5% |
| Trade receivables40 | - | €48,325 | €62,430 | €52,378 | €55,270 | ▲ 5.5% |
| Cash at bank and in hand54/58 | €90,286 | €66,874 | €94,604 | €142,497 | €146,839 | ▲ 3.0% |
| Deferred charges and accrued income490/1 | - | €6,179 | €4,344 | €4,361 | €2,701 | ▼ 38.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €276,471 | €297,039 | €339,007 | €339,844 | €362,104 | ▲ 6.6% |
| Equity10/15 | €242,290 | €255,606 | €260,169 | €283,851 | €314,006 | ▲ 10.6% |
| Contributions10/11 | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €46,175 | €59,425 | €63,425 | €105,425 | €135,425 | ▲ 28.5% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €6,347 | €6,347 | €6,347 | €6,347 | = |
| Distributable reserves133 | - | €51,218 | €55,218 | €97,218 | €127,218 | ▲ 30.9% |
| Profit (loss) carried forward14 | €177,515 | €177,581 | €178,144 | €178,426 | €178,581 | ▲ 0.1% |
| Amounts payable17/49 | €34,180 | €41,433 | €78,838 | €55,993 | €48,098 | ▼ 14.1% |
| Amounts payable within one year42/48 | €34,180 | €41,433 | €78,838 | €55,993 | €48,098 | ▼ 14.1% |
| Financial debts43 | - | €337 | - | - | - | - |
| Other loans439 | - | €337 | - | - | - | - |
| Trade debts44 | €15,838 | €20,543 | €49,961 | €25,720 | €11,449 | ▼ 55.5% |
| Suppliers440/4 | - | €20,543 | €49,961 | €25,720 | €11,449 | ▼ 55.5% |
| Taxes, remuneration and social security45 | - | €20,553 | €11,778 | €28,473 | €34,849 | ▲ 22.4% |
| Taxes450/3 | - | €7,648 | €4,548 | €20,238 | €29,496 | ▲ 45.7% |
| Remuneration and social security454/9 | - | €12,904 | €7,230 | €8,235 | €5,353 | ▼ 35.0% |
| Other amounts payable47/48 | - | - | €17,099 | €1,800 | €1,800 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,623 | €13,316 | €20,563 | €42,282 | €30,155 | ▼ 28.7% |
| + Depreciation and write-downs630 | €10,100 | €3,154 | €3,544 | €3,544 | €4,680 | ▲ 32.1% |
| Operating cash flow (approximation) | €24,723 | €16,470 | €24,106 | €45,826 | €34,835 | ▼ 24.0% |
| Investment in fixed assets (approximation) | - | -€6,344 | €0 | €0 | -€26,000 | - |
| Change in cash | - | -€23,411 | €27,730 | €47,893 | €4,342 | ▼ 90.9% |
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
2025
08-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 39 days late
2024
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €42,282 ▲106%
Operating result €59,791, net result €42,282, both a record.
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
2019
31-12
Financial
Weakest financial yearnet €2,318 ▼29.7%
Net result drops to €2,318, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Saint-Ghislain · 1 establishment unit since 1978
Ground area
1,096 m²
Building footprint
216 m²
Volume, LiDAR
1,135 m³
2 parcels, Wallonia · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Louis Ansiaux(B) 23, 7331 Saint-Ghislain
since 19782.014.620.021
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53009C0374/00S000 | Wallonia | 880 m² | 1 · 120 m² | 8.5 m · 2 fl. |
| 53009B0215/00X002indicative | Wallonia | 216 m² | 1 · 96 m² | 9.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSaint-Ghislain2.014.620.021
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Of 26 companies in sector 17220 we hold annual accounts for 17. 10 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-03-1978
Fiscal year end31-12
Activities, NACEBEL 2025
17210Manufacture of paper and paper products
17220Manufacture of paper and paper products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0418192932
Registered
22-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.