BAZELMANS M.
ActiveSummary
BAZELMANS M. has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €215,204. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 87% of 407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110,000 at 30 days acceptable
Liquidity ample (current ratio 3.16 against 4.28 in 2024; short-term debt: 21.2% and cash: 48.3% of total assets), and 21.3% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
78.7%
Return on assets
13.4%
Age of the figures
10 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 29-05-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
33 d early
2023
18 d early
2022
9 d early
2021
6 d late
2020
29 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 21 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-11-2026 and is due by 30-06-2027. Nothing is late today. Usually files around 13 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-11-2026 close30-06-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 company by equity in Grimbergen, Construction sector#8 company by total assets in Grimbergen, Construction sector
Equity
€1.3m▲ 5.6%
2024 · €1.2m
Total assets
€1.6m▲ 15.0%
2024 · €1.4m
Net result
€215,204▲ 14.0%
2024 · €188,740
Working capital
€736,554▲ 24.9%
2024 · €589,665
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€154,149▼ 13.4%€96,574▼ 37.3%€267,415▲ 177%€264,339▼ 1.2%€306,588▲ 16.0%
Net result€107,143within the sector's middle half▼ 14.0%€66,837within the sector's middle half▼ 37.6%€188,195within the sector's middle half▲ 182%€188,740within the sector's middle half▲ 0.3%€215,204above the sector's middle half▲ 14.0%
Equity€629,035within the sector's middle half▲ 20.2%€695,872within the sector's middle half▲ 10.6%€1.0mwithin the sector's middle half▲ 46.6%€1.2mwithin the sector's middle half▲ 17.7%€1.3mabove the sector's middle half▲ 5.6%
Total assets€1.0mwithin the sector's middle half▼ 12.9%€949,179within the sector's middle half▼ 9.5%€1.4mwithin the sector's middle half▲ 50.1%€1.4mwithin the sector's middle half▼ 1.7%€1.6mwithin the sector's middle half▲ 15.0%
Debt€419,465▼ 38.4%€253,308▼ 39.6%€404,265▲ 59.6%€200,270▼ 50.5%€342,688▲ 71.1%
Working capital€407,597within the sector's middle half▲ 32.5%€452,675within the sector's middle half▲ 11.1%€403,145within the sector's middle half▼ 10.9%€589,665within the sector's middle half▲ 46.3%€736,554above the sector's middle half▲ 24.9%
Solvency60.0%within the sector's middle half▲ 16.5pp73.3%above the sector's middle half▲ 13.3pp71.6%above the sector's middle half▼ 1.7pp85.7%above the sector's middle half▲ 14.1pp78.7%above the sector's middle half▼ 7.0pp
Current ratio2.38within the sector's middle half▲ 0.913.40above the sector's middle half▲ 1.022.16within the sector's middle half▼ 1.254.28above the sector's middle half▲ 2.133.16above the sector's middle half▼ 1.12
Return on assets (ROA)10.2%within the sector's middle half▼ 0.1pp7.0%within the sector's middle half▼ 3.2pp13.2%above the sector's middle half▲ 6.2pp13.5%above the sector's middle half▲ 0.3pp13.4%within the sector's middle half▼ 0.1pp
Staff (FTE)1.7below the sector's middle half▼ 22.7%1.3below the sector's middle half▼ 23.5%1.2below the sector's middle half▼ 7.7%1.6below the sector's middle half▲ 33.3%2.3within the sector's middle half▲ 43.8%
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€533,378 ▼ 15.5%
Current assets
€1.1m ▲ 40.1%
Equity and liabilities €1.6m
Equity
€1.3m ▲ 5.6%
Debt
€342,688 ▲ 71.1%
Debt's share of the balance-sheet total rises from 14.3% to 21.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€460,610▲
2024 · €417,568
Cash flow
€369,226▲
2024 · €341,969
Debt to equity
0.27▲
2024 · 0.17
ROE
17.0%▲
2024 · 15.7%
Interest coverage
235.07▲
2024 · 150.96
Debt ≤ 1 year
€341,024▲
2024 · €179,686
Debt > 1 year
€0▼
2024 · €15,009
Income taxes
€94,468▲
2024 · €84,949
Staff costs
€180,988▲
2024 · €109,294
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% 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
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 31,370 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,750 | €16,119 | €0 | €44,546 | - |
| Remuneration, social security and pensions62 | €89,085 | €65,869 | €69,584 | €109,294 | €180,988 | ▲ 65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €72,892 | €97,883 | €126,551 | €153,229 | €154,023 | ▲ 0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €50,000 | €0 | - | - |
| Other operating charges640/8 | €1,619 | €1,925 | €3,643 | €6,954 | €5,802 | ▼ 16.6% |
| Gross operating margin9900 | €317,744 | €262,252 | €517,193 | €533,816 | €647,400 | ▲ 21.3% |
| Operating profit (loss)9901 | €154,149 | €96,574 | €267,415 | €264,339 | €306,588 | ▲ 16.0% |
| Financial income75/76B | €318 | €911 | €1,619 | €12,116 | €5,043 | ▼ 58.4% |
| Recurring financial income75 | €318 | €911 | €1,619 | €12,116 | €5,043 | ▼ 58.4% |
| Financial charges65/66B | €389 | €2,140 | €2,649 | €2,766 | €1,959 | ▼ 29.2% |
| Recurring financial charges65 | €389 | €2,140 | €2,649 | €2,766 | €1,959 | ▼ 29.2% |
| Profit (loss) for the period before taxes9903 | €154,078 | €95,345 | €266,385 | €273,689 | €309,671 | ▲ 13.1% |
| Income taxes67/77 | €46,935 | €28,508 | €78,190 | €84,949 | €94,468 | ▲ 11.2% |
| Profit (loss) for the period9904 | €107,143 | €66,837 | €188,195 | €188,740 | €215,204 | ▲ 14.0% |
| Transfer from tax-exempt reserves789 | €50,000 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €157,143 | €66,837 | €188,195 | €188,740 | €215,204 | ▲ 14.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €949,179 | €1.4m | €1.4m | €1.6m | ▲ 15.0% |
| Fixed assets21/28 | €345,392 | €308,034 | €672,494 | €631,562 | €533,378 | ▼ 15.5% |
| Tangible fixed assets22/27 | €344,852 | €307,494 | €671,954 | €631,022 | €532,838 | ▼ 15.6% |
| Land and buildings22 | €70,960 | €106,797 | €359,781 | €303,717 | €270,739 | ▼ 10.9% |
| Plant, machinery and equipment23 | €110,364 | €82,401 | €125,628 | €121,297 | €121,323 | = |
| Furniture and vehicles24 | €163,529 | €118,296 | €186,546 | €206,007 | €140,776 | ▼ 31.7% |
| Financial fixed assets28 | €540 | €540 | €540 | €540 | €540 | = |
| Current assets29/58 | €703,107 | €641,145 | €752,005 | €769,351 | €1.1m | ▲ 40.1% |
| Amounts receivable within one year40/41 | €291,931 | €197,155 | €232,366 | €217,625 | €292,241 | ▲ 34.3% |
| Trade receivables40 | €123,370 | €52,654 | €134,365 | €151,338 | €224,989 | ▲ 48.7% |
| Other amounts receivable41 | €168,561 | €144,501 | €98,001 | €66,287 | €67,252 | ▲ 1.5% |
| Current investments50/53 | - | - | €150,000 | €0 | - | - |
| Cash at bank and in hand54/58 | €381,249 | €434,469 | €361,967 | €542,598 | €777,909 | ▲ 43.4% |
| Deferred charges and accrued income490/1 | €29,928 | €9,522 | €7,672 | €9,128 | €7,428 | ▼ 18.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €949,179 | €1.4m | €1.4m | €1.6m | ▲ 15.0% |
| Equity10/15 | €629,035 | €695,872 | €1.0m | €1.2m | €1.3m | ▲ 5.6% |
| Contributions10/11 | €6,205 | €6,205 | €68,205 | €68,205 | €68,205 | = |
| Reserves13 | €404,869 | €471,705 | €634,296 | €814,705 | €882,330 | ▲ 8.3% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €403,009 | €469,845 | €634,296 | €814,705 | €882,330 | ▲ 8.3% |
| Profit (loss) carried forward14 | €217,961 | €217,961 | €317,733 | €317,733 | €317,733 | = |
| Amounts payable17/49 | €419,465 | €253,308 | €404,265 | €200,270 | €342,688 | ▲ 71.1% |
| Amounts payable after more than one year17 | €113,648 | €56,512 | €44,407 | €15,009 | €0 | ▼ 100% |
| Financial debts170/4 | €113,648 | €56,512 | €44,407 | €15,009 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €295,510 | €188,470 | €348,860 | €179,686 | €341,024 | ▲ 89.8% |
| Current portion of amounts payable after more than one year42 | €68,692 | €57,344 | €85,104 | €30,792 | €15,009 | ▼ 51.3% |
| Trade debts44 | €66,656 | €37,492 | €44,584 | €33,378 | €87,069 | ▲ 161% |
| Suppliers440/4 | €66,656 | €37,492 | €44,584 | €33,378 | €87,069 | ▲ 161% |
| Taxes, remuneration and social security45 | €7,423 | €6,277 | €8,596 | €47,948 | €24,127 | ▼ 49.7% |
| Taxes450/3 | €162 | €79 | €1,678 | €31,707 | €5,905 | ▼ 81.4% |
| Remuneration and social security454/9 | €7,261 | €6,198 | €6,918 | €16,240 | €18,223 | ▲ 12.2% |
| Other amounts payable47/48 | €152,739 | €87,358 | €210,576 | €67,569 | €214,820 | ▲ 218% |
| Accrued charges and deferred income492/3 | €10,306 | €8,325 | €10,998 | €5,575 | €1,663 | ▼ 70.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €107,143 | €66,837 | €188,195 | €188,740 | €215,204 | ▲ 14.0% |
| + Depreciation and write-downs630 | €72,892 | €97,883 | €126,551 | €153,229 | €154,023 | ▲ 0.5% |
| Operating cash flow (approximation) | €180,035 | €164,720 | €314,745 | €341,969 | €369,226 | ▲ 8.0% |
| Investment in fixed assets (approximation) | - | -€60,525 | -€491,011 | -€112,296 | -€55,839 | ▲ 50.3% |
| Change in cash | - | €53,220 | -€72,502 | €180,631 | €235,310 | ▲ 30.3% |
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
Next filing, fiscal year 2026, expected by
2026
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-11
Financial
Highest result since 2018net €215,204 ▲14%
Operating result €306,588, net result €215,204, both a record.
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-11
Financial
Equity above €1mEq €1.0m ▲46.6%
4 profitable years in a row build equity to €1.0m.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 6 days late
2021
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-11
Financial
Back to profitnet €124,562
Net result €124,562 after one loss-making year.
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-11
Financial
Weakest financial yearnet -€15,866
Net result drops to -€15,866, the lowest in the series; recovery starts the following year.
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
3 acts for this company are 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, Grimbergen · 1 establishment unit since 1997
Ground area
4,536 m²
Building footprint
1,991 m²
Volume, LiDAR
9,985 m³
Parcel 23402D0296/00F000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BAZELMANS M. TUINAANLEG
since 19972.081.675.131
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23402D0296/00F000 | Flanders | 4,536 m² | 1 · 1,991 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
3 categoriesBAZELMANS M. BV33955
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Of 2,325 companies in sector 42110 we hold annual accounts for 1,096. 625 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 (pre-2019)
Founded28-04-1997
Fiscal year end30-11
Activities, NACEBEL 2025
42110Construction of roads and motorways
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0460503342
Also
9925:BE0460503342
Registered
28-08-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.