Summary
BCG is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €233,070 and a net result of -€11,758. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 73% of 2463 sector peers (fiscal year 2025). The company has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-07-2026, 6 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
6 d early
2024
30 d late
2023
362 d late
2022
38 d early
2021
26 d late
2020
37 d early
2019
49 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 41 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€233,070▼ 4.8%
2024 · €244,829
Net result
-€11,758
2024 · €192,641
Total assets
€314,127▼ 15.9%
2024 · €373,395
Solvency
74.2%▲ 8.6pp
2024 · 65.6%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, 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€25,170▼ 45.9%€23,798▼ 5.5%€28,563▲ 20.0%€270,415▲ 847%-€12,697
Net result€18,174within the sector's middle half▼ 53.7%€14,258within the sector's middle half▼ 21.5%€17,124within the sector's middle half▲ 20.1%€192,641above the sector's middle half▲ 1,025%-€11,758below the sector's middle half
Equity€20,805below the sector's middle half▲ 691%€35,063below the sector's middle half▲ 68.5%€52,187within the sector's middle half▲ 48.8%€244,829within the sector's middle half▲ 369%€233,070within the sector's middle half▼ 4.8%
Total assets€111,413below the sector's middle half▲ 4.4%€99,447below the sector's middle half▼ 10.7%€120,067below the sector's middle half▲ 20.7%€373,395within the sector's middle half▲ 211%€314,127within the sector's middle half▼ 15.9%
Debt€90,608▼ 12.9%€64,384▼ 28.9%€67,880▲ 5.4%€53,322▼ 21.4%€5,813▼ 89.1%
Working capital-€24,331below the sector's middle half▼ 25.8%-€14,221below the sector's middle half▲ 41.6%€25,310within the sector's middle half€324,916above the sector's middle half▲ 1,184%€305,305above the sector's middle half▼ 6.0%
Solvency18.7%below the sector's middle half▲ 16.2pp35.3%within the sector's middle half▲ 16.6pp43.5%within the sector's middle half▲ 8.2pp65.6%within the sector's middle half▲ 22.1pp74.2%within the sector's middle half▲ 8.6pp
Current ratio0.56below the sector's middle half▲ 0.010.62below the sector's middle half▲ 0.051.37within the sector's middle half▲ 0.758.15above the sector's middle half▲ 6.7753.52above the sector's middle half▲ 45.37
Return on assets (ROA)16.3%within the sector's middle half▼ 20.5pp14.3%within the sector's middle half▼ 2.0pp14.3%within the sector's middle half▼ 0.1pp51.6%above the sector's middle half▲ 37.3pp-3.7%below the sector's middle half▼ 55.3pp
Staff (FTE)0.41.4▲ 250%
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €12,697 after €270,415 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €314,127
Fixed assets
€3,010 ▼ 0.4%
Current assets
€311,118 ▼ 16.0%
Equity and liabilities €314,127
Equity
€233,070 ▼ 4.8%
Provisions
€75,244 =
Debt
€5,813 ▼ 89.1%
Debt's share of the balance-sheet total falls from 14.3% to 1.9%. Equity and debt are lower.
Key figures and ratios
ROE
-5.0%▼
2024 · 78.7%
Debt ≤ 1 year
€5,813▼
2024 · €45,457
Income taxes
-€2,630
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €303,726 | - | - |
| Remuneration, social security and pensions62 | €8,375 | €13,948 | €28,085 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €97 | €234 | €344 | ▲ 47.4% |
| Other operating charges640/8 | €2,412 | €927 | €727 | €336 | €2,676 | ▲ 696% |
| Non-recurring operating charges66A | - | - | €15,000 | - | - | - |
| Gross operating margin9900 | €35,957 | €38,673 | €72,472 | €270,985 | -€9,676 | ▼ 104% |
| Operating profit (loss)9901 | €25,170 | €23,798 | €28,563 | €270,415 | -€12,697 | ▼ 105% |
| Financial income75/76B | - | - | €1 | €0 | €171 | ▲ 284,083% |
| Recurring financial income75 | - | - | €1 | €0 | €171 | ▲ 284,083% |
| Financial charges65/66B | €4,962 | €5,191 | €3,559 | €2,529 | €1,862 | ▼ 26.4% |
| Recurring financial charges65 | €4,962 | €5,191 | €3,559 | €2,529 | €1,862 | ▼ 26.4% |
| Profit (loss) for the period before taxes9903 | €20,208 | €18,607 | €25,005 | €267,886 | -€14,388 | ▼ 105% |
| Transfer to deferred taxes680 | - | - | - | €75,244 | - | - |
| Income taxes67/77 | €2,034 | €4,349 | €7,881 | - | -€2,630 | - |
| Profit (loss) for the period9904 | €18,174 | €14,258 | €17,124 | €192,641 | -€11,758 | ▼ 106% |
| Transfer from tax-exempt reserves789 | €54,693 | - | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €225,733 | - | - |
| Profit (loss) for the period to be appropriated9905 | €72,867 | €14,258 | €17,124 | -€33,091 | -€11,758 | ▲ 64.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €111,413 | €99,447 | €120,067 | €373,395 | €314,127 | ▼ 15.9% |
| Fixed assets21/28 | €79,987 | €76,412 | €26,877 | €3,022 | €3,010 | ▼ 0.4% |
| Intangible fixed assets21 | €0 | €0 | €24,000 | - | - | - |
| Tangible fixed assets22/27 | €17,500 | €17,500 | €2,877 | €3,022 | €3,010 | ▼ 0.4% |
| Furniture and vehicles24 | - | - | €377 | €522 | €510 | ▼ 2.3% |
| Other tangible fixed assets26 | €17,500 | €17,500 | €2,500 | €2,500 | €2,500 | = |
| Financial fixed assets28 | €62,487 | €58,912 | - | - | - | - |
| Current assets29/58 | €31,426 | €23,035 | €93,190 | €370,373 | €311,118 | ▼ 16.0% |
| Amounts receivable within one year40/41 | €3,709 | €6,550 | €68,181 | €241,932 | €121,231 | ▼ 49.9% |
| Other amounts receivable41 | €3,709 | €6,550 | €68,181 | €241,932 | €121,231 | ▼ 49.9% |
| Cash at bank and in hand54/58 | - | - | €389 | €127,969 | €189,434 | ▲ 48.0% |
| Deferred charges and accrued income490/1 | €27,717 | €16,485 | €24,620 | €472 | €452 | ▼ 4.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €111,413 | €99,447 | €120,067 | €373,395 | €314,127 | ▼ 15.9% |
| Equity10/15 | €20,805 | €35,063 | €52,187 | €244,829 | €233,070 | ▼ 4.8% |
| Contributions10/11 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Reserves13 | €50 | €50 | - | €225,733 | €225,733 | = |
| Non-distributable reserves130/1 | €50 | €50 | - | - | - | - |
| Reserves not available under the articles1311 | €50 | €50 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €225,733 | €225,733 | = |
| Profit (loss) carried forward14 | -€53,613 | -€39,355 | -€22,181 | -€55,272 | -€67,030 | ▼ 21.3% |
| Provisions and deferred taxes16 | - | - | - | €75,244 | €75,244 | = |
| Deferred taxes168 | - | - | - | €75,244 | €75,244 | = |
| Amounts payable17/49 | €90,608 | €64,384 | €67,880 | €53,322 | €5,813 | ▼ 89.1% |
| Amounts payable after more than one year17 | €34,851 | €27,128 | - | - | - | - |
| Financial debts170/4 | €10,729 | - | - | - | - | - |
| Other amounts payable178/9 | €24,122 | €27,128 | - | - | - | - |
| Amounts payable within one year42/48 | €55,757 | €37,256 | €67,880 | €45,457 | €5,813 | ▼ 87.2% |
| Current portion of amounts payable after more than one year42 | €38,985 | €15,772 | - | - | - | - |
| Financial debts43 | €7,181 | €6,357 | - | - | - | - |
| Credit institutions430/8 | €7,181 | €6,357 | - | - | - | - |
| Trade debts44 | €3,991 | €3,144 | €3,818 | €805 | €1,407 | ▲ 74.8% |
| Suppliers440/4 | €3,991 | €3,144 | €3,818 | €805 | €1,407 | ▲ 74.8% |
| Taxes, remuneration and social security45 | €5,600 | €11,983 | €12,368 | €7,593 | €185 | ▼ 97.6% |
| Taxes450/3 | €1,969 | €6,737 | €12,368 | €7,593 | €185 | ▼ 97.6% |
| Remuneration and social security454/9 | €3,631 | €5,246 | - | - | - | - |
| Other amounts payable47/48 | - | - | €51,694 | €37,059 | €4,221 | ▼ 88.6% |
| Accrued charges and deferred income492/3 | - | - | - | €7,865 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,174 | €14,258 | €17,124 | €192,641 | -€11,758 | ▼ 106% |
| + Depreciation and write-downs630 | - | - | €97 | €234 | €344 | ▲ 47.4% |
| Operating cash flow (approximation) | €18,174 | €14,258 | €17,221 | €192,875 | -€11,414 | ▼ 106% |
| Investment in fixed assets (approximation) | - | €3,575 | €49,438 | €23,622 | -€332 | ▼ 101% |
| Change in cash | - | - | - | €127,580 | €61,465 | ▼ 51.8% |
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
25-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€11,758
Net result drops to -€11,758, the lowest in the series.
31-12
Financial
Liquidity times 7current ratio 53.52
Current ratio from 8.15 to 53.52; short-term debt falls from €45,457 to €5,813.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
28-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 362 days late
2024
31-12
Financial
Highest result since 2018net €192,641 ▲1,025%
Operating result €270,415, net result €192,641, both a record.
31-12
Financial
Liquidity times 6current ratio 8.15
Current ratio from 1.37 to 8.15; short-term debt falls from €67,880 to €45,457.
31-12
Financial
Equity above €200,000Eq €244,829 ▲369%
7 profitable years in a row build equity to €244,829.
2023
31-12
Financial
Liquidity doublescurrent ratio 1.37
Current ratio from 0.62 to 1.37.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
07-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 13 days late
2017
14-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 136 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Floreffe · 1 establishment unit since 1997
Ground area
3,367 m²
Building footprint
151 m²
Parcel 92045D0043/00R000, Wallonia. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
BRUNO GERMIAT SPRL
since 19972.038.808.257
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92045D0043/00R000 | Wallonia | 3,367 m² | 1 · 151 m² | - |
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.
Similar companies · same sector, comparable size
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BUREAU D'ASSURANCES CHRISTIAN SPOIDEN ET CIE
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Of 4,673 companies in sector 66220 we hold annual accounts for 3,222. 2,793 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
Founded13-04-1988
Fiscal year end31-12
Activities, NACEBEL 2025
66220Insurance agents and brokers
Contact
E-mail
bruno@germiat.be
Phone
+32475758674
Phone
0475758674Floreffe
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.