Checked.be
Active
BE 0457.918.687Private limited company
BAVACO
Stevennekens 33 ·2310 Rijkevorsel, Belgium· 30 yrs active
Sector: General construction of residential buildings
(41001)
Conclusion
BAVACO has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €526k and a net result of €-14k. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 67% of 7107 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €526k |
| Net result | €-14k |
| Better than sector | 67% |
| Active | 30 yrs |
Financial profile
63
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
65
Profitability
0
Solvency
98
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1996, 30 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
65
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€35k
estimate, not credit advice
Score history
78
2021
74
2022
58
2023
100
2024
65
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 17.17 (≥ 1.5)
+10
Quick ratio
Quick ratio 6.33 (≥ 1.0)
+5
Leverage
Debt/equity 0.67 (< 1.0)
+10
Profitability
Negatieve ROE -3%
-10
Interest coverage
Interest coverage 2.4×
+3
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 24-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~312% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 41, Construction of residential and non-residential buildings · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 59.7% | 43.8% | |
| Net result | €-14k | €8k | |
| Equity | €526k | €48k | |
| Gross operating margin | €56k | €32k | |
| Staff costs | €4k | €34k |
€48k
-71.4%
21-25
€-14k
-
21-25
€28k
-74.5%
21-25
€881k
-7.5%
21-25
€526k
-2.6%
21-25
€468k
-0.8%
21-25
€4k
0.0%
21-25
€955
-96.7%
21-25
€2k
0.0%
21-25
€350k
-13.7%
21-25
€29k
-46.7%
21-25
€321k
-8.7%
21-25
17.17
+77.4%
21-25
6.33
+62.1%
21-25
59.7%
+5.3%
21-25
0.67
-11.5%
21-25
-2.6%
-
21-25
-1.6%
-
21-25
2.38
-59.9%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €48k | €167k | €70k | €100k | €221k |
| Net profit | €-14k | €63k | €-8k | €16k | €153k |
| Cash flow | €28k | €111k | €48k | €71k | €216k |
| Staff costs | €4k | €4k | - | - | €6k |
| Income taxes | €955 | €29k | €2k | €8k | €31k |
| Dividends | - | - | - | €2k | €2k |
| Total assets | €881k | €953k | €1.21M | €980k | €1.51M |
| Equity | €526k | €540k | €477k | €485k | €471k |
| Debt | €350k | €406k | €728k | €486k | €1.03M |
| of which ≤ 1y | €29k | €54k | €241k | €210k | €275k |
| of which > 1y | €321k | €352k | €480k | €267k | €750k |
| Working capital | €468k | €471k | €303k | €48k | €467k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 17.17 | 9.68 | 2.26 | 1.23 | 2.70 |
| Quick ratio | 6.33 | 3.90 | 0.95 | 1.23 | 0.63 |
| Working capital ratio | 53.1% | 49.5% | 24.9% | 4.9% | 30.9% |
| Solvency | 59.7% | 56.7% | 39.3% | 49.5% | 31.1% |
| Debt / equity | 0.67 | 0.75 | 1.53 | 1.00 | 2.19 |
| Long-term debt ratio | 0.61 | 0.65 | 1.01 | 0.55 | 1.59 |
| Interest coverage | 2.38 | 5.94 | 3.31 | 4.31 | 10.39 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -1.6% | 6.6% | -0.6% | 1.6% | 10.1% |
| ROE | -2.6% | 11.7% | -1.6% | 3.3% | 32.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €881k | €953k | €1.21M | €980k | €1.51M |
| Fixed assets | 21/28 | €384k | €427k | €670k | €722k | €771k |
| Tangible fixed assets | 22/27 | €365k | €407k | €648k | €700k | €751k |
| Financial fixed assets | 28 | €19k | €19k | €21k | €21k | €20k |
| Current assets | 29/58 | €497k | €526k | €543k | €258k | €742k |
| Stocks & contracts in progress | 3 | €314k | €314k | €314k | - | €570k |
| Amounts receivable within one year | 40/41 | €147k | €132k | €72k | €134k | €136k |
| Cash & bank | 54/58 | €30k | €74k | €151k | €118k | €32k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €881k | €953k | €1.21M | €980k | €1.51M |
| Equity | 10/15 | €526k | €540k | €477k | €485k | €471k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €383k | €390k | €328k | €334k | €320k |
| Accumulated profits (losses) | 14 | €-8k | - | €-1k | - | - |
| Provisions & deferred taxes | 16 | €5k | €6k | €8k | €9k | €11k |
| Amounts payable | 17/49 | €350k | €406k | €728k | €486k | €1.03M |
| Amounts payable after one year | 17 | €321k | €352k | €480k | €267k | €750k |
| Amounts payable within one year | 42/48 | €29k | €54k | €241k | €210k | €275k |
| Trade debts payable within one year | 44 | €4k | €2k | €6k | €30k | €24k |
| Income statement | ||||||
| Gross operating margin | 9900 | €56k | €175k | €72k | €103k | €235k |
| Operating result | 9901 | €6k | €119k | €14k | €45k | €158k |
| Financial income | 75 | €0 | €16 | - | - | - |
| Financial charges | 65 | €20k | €28k | €21k | €23k | €21k |
| Result before taxes | 9903 | €-14k | €91k | €-7k | €22k | €137k |
| Income taxes | 67/77 | €955 | €29k | €2k | €8k | €31k |
| Net result for the period | 9904 | €-14k | €63k | €-8k | €16k | €153k |
| Result to be appropriated | 9905 | €-8k | €69k | €-1k | €22k | €110k |
Legal Structure
| NACE primary | General construction of residential buildings(41001) |
| Legal form | Private limited company(610) |
| Incorporation | 23-04-1996 |
| Status | Active |
| Postal code | 2310 |
Establishment units
BAVACO
since 19962.076.817.213
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13502D0129/00H006indicative | Flanders | 420 m² | 1 · 18 m² | 2.4 m · 1 fl. |
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-14k ▼122%
Net result drops to €-14k, the lowest in the series.
03-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 34 days late
2024
31-12
Financial
Back to profitnet €63k
Net result €63k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 9.68
Current ratio from 2.26 to 9.68; short-term debt falls from €241k to €54k.
31-12
Financial
Equity above €500kEq €540k ▲13.2%
Equity rises from €477k to €540k.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
21-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
22-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
23-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General construction of residential buildings4100174142Bricklaying and masonry work43910Other specialised construction activities43990Specialised construction activities43994Specialised construction activities43999Warehousing and storage5210063122Business and other management consultancy70200Business consulting70220Market research and public opinion polling73200
Names & trade names
| Legal nameNL | BAVACO |
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