BECY
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00432438.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 26 filings
Turnover
≈ €150,000
Estimated: probably between €96,000 and €290,000
Total assets
€277,238▲ 7.2%
2024 · €258,518
Net result
€8,016▲ 23.0%
2024 · €6,516
Working capital
€175,975▲ 9.7%
2024 · €160,437
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€10,462
▲ 21.0%
2025
20182025
Net result
€8,016
▲ 23.0%
2025
middle half of the sector
20182025
Equity
€218,910
▲ 3.8%
2025
highest quarter of the sector
20182025
Total assets
€277,238
▲ 7.2%
2025
middle half of the sector
20182025
Debt
€53,071
▲ 29.7%
2025
20182025
Working capital
€175,975
▲ 9.7%
2025
highest quarter of the sector
20182025
Solvency
79.0%
▼ 2.6pp
2025
highest quarter of the sector
20182025
Current ratio
4.32
▼ 0.61
2025
highest quarter of the sector
20182025
Return on assets (ROA)
2.9%
▲ 0.4pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€11,043-€7,619▼ 31.0%€2,573▼ 66.2%€6,965▲ 171%€3,069▼ 55.9%€5,077▲ 65.4%€8,643▲ 70.2%€10,462▲ 21.0%
Net result€11,709-€9,548▼ 18.5%€5,149within the sector's middle half▼ 46.1%€9,632within the sector's middle half▲ 87.1%€2,205within the sector's middle half▼ 77.1%€3,782within the sector's middle half▲ 71.5%€6,516within the sector's middle half▲ 72.3%€8,016within the sector's middle half▲ 23.0%
Equity€176,319-€191,321▲ 8.5%€194,141above the sector's middle half▲ 1.5%€198,391above the sector's middle half▲ 2.2%€200,596above the sector's middle half▲ 1.1%€204,378above the sector's middle half▲ 1.9%€210,894above the sector's middle half▲ 3.2%€218,910above the sector's middle half▲ 3.8%
Total assets€441,122-€458,132▲ 3.9%€472,716above the sector's middle half▲ 3.2%€492,892above the sector's middle half▲ 4.3%€223,311within the sector's middle half▼ 54.7%€242,497within the sector's middle half▲ 8.6%€258,518within the sector's middle half▲ 6.6%€277,238within the sector's middle half▲ 7.2%
Debt€238,561-€252,824▲ 6.0%€267,062▲ 5.6%€283,425▲ 6.1%€13,093▼ 95.4%€29,952▲ 129%€40,912▲ 36.6%€53,071▲ 29.7%
Working capital€105,947-€103,260▼ 2.5%€112,583above the sector's middle half▲ 9.0%€125,372above the sector's middle half▲ 11.4%€135,098above the sector's middle half▲ 7.8%€147,051above the sector's middle half▲ 8.8%€160,437above the sector's middle half▲ 9.1%€175,975above the sector's middle half▲ 9.7%
Solvency40.0%-41.8%▲ 1.8pp41.1%within the sector's middle half▼ 0.7pp40.3%within the sector's middle half▼ 0.8pp89.8%above the sector's middle half▲ 49.6pp84.3%above the sector's middle half▼ 5.5pp81.6%above the sector's middle half▼ 2.7pp79.0%above the sector's middle half▼ 2.6pp
Current ratio1.44-1.41▼ 0.041.42within the sector's middle half▲ 0.011.44within the sector's middle half▲ 0.0211.32above the sector's middle half▲ 9.886.02above the sector's middle half▼ 5.304.92above the sector's middle half▼ 1.104.32above the sector's middle half▼ 0.61
Return on assets (ROA)2.7%-2.1%▼ 0.6pp1.1%within the sector's middle half▼ 1.0pp2.0%within the sector's middle half▲ 0.9pp1.0%within the sector's middle half▼ 1.0pp1.6%within the sector's middle half▲ 0.6pp2.5%within the sector's middle half▲ 1.0pp2.9%within the sector's middle half▲ 0.4pp
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 21% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €277,238
Fixed assets
€48,193 ▼ 15.7%
Current assets
€229,045 ▲ 13.8%
Equity and liabilities €277,238
Equity
€218,910 ▲ 3.8%
Provisions
€5,257 ▼ 21.7%
Debt
€53,071 ▲ 29.7%
Debt's share of the balance-sheet total rises from 15.8% to 19.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19,438▲
2024 · €17,619
Cash flow
€16,992▲
2024 · €15,492
Debt to equity
0.24▲
2024 · 0.19
ROE
3.7%▲
2024 · 3.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€53,071▲
2024 · €40,912
Income taxes
€3,757▲
2024 · €3,438
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,535 | €8,976 | €8,976 | €8,976 | €8,976 | €8,976 | €8,976 | €8,976 | = |
| Other operating charges640/8 | - | - | - | €966 | €628 | €632 | €660 | €679 | ▲ 3.0% |
| Gross operating margin9900 | €19,440 | €17,467 | €12,406 | €16,907 | €12,674 | €14,685 | €18,279 | €20,118 | ▲ 10.1% |
| Operating profit (loss)9901 | €11,043 | €7,619 | €2,573 | €6,965 | €3,069 | €5,077 | €8,643 | €10,462 | ▲ 21.0% |
| Financial charges65/66B | - | - | - | €144 | €144 | €144 | €144 | €144 | = |
| Recurring financial charges65 | €138 | €138 | €180 | €144 | €144 | €144 | €144 | €144 | = |
| Profit (loss) for the period before taxes9903 | €10,905 | €7,481 | €2,393 | €6,821 | €2,925 | €4,933 | €8,499 | €10,318 | ▲ 21.4% |
| Transfer from deferred taxes780 | - | - | - | €5,819 | €1,455 | €1,455 | €1,455 | €1,455 | = |
| Income taxes67/77 | €3,226 | €2,734 | €2,045 | €3,008 | €2,175 | €2,606 | €3,438 | €3,757 | ▲ 9.3% |
| Profit (loss) for the period9904 | €11,709 | €9,548 | €5,149 | €9,632 | €2,205 | €3,782 | €6,516 | €8,016 | ▲ 23.0% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,455 | €5,819 | €5,819 | €5,819 | €5,819 | = |
| Profit (loss) for the period to be appropriated9905 | €13,785 | €12,020 | €7,622 | €11,087 | €8,024 | €9,601 | €12,335 | €13,836 | ▲ 12.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €441,122 | €458,132 | €472,716 | €492,892 | €223,311 | €242,497 | €258,518 | €277,238 | ▲ 7.2% |
| Fixed assets21/28 | €96,614 | €102,048 | €93,072 | €84,096 | €75,120 | €66,144 | €57,168 | €48,193 | ▼ 15.7% |
| Tangible fixed assets22/27 | €96,614 | €102,048 | €93,072 | €84,096 | €75,120 | €66,144 | €57,168 | €48,193 | ▼ 15.7% |
| Land and buildings22 | - | - | - | €84,096 | €75,120 | €66,144 | €57,168 | €48,193 | ▼ 15.7% |
| Current assets29/58 | €344,508 | €356,084 | €379,644 | €408,796 | €148,191 | €176,353 | €201,350 | €229,045 | ▲ 13.8% |
| Amounts receivable within one year40/41 | €342,686 | €354,576 | €376,884 | €406,645 | €147,305 | €170,962 | €200,412 | €227,465 | ▲ 13.5% |
| Trade receivables40 | - | - | - | €404,334 | €144,994 | €168,651 | €198,101 | €227,465 | ▲ 14.8% |
| Other amounts receivable41 | - | - | - | €2,311 | €2,311 | €2,311 | €2,311 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1,822 | €1,508 | €2,760 | €2,151 | €886 | €2,991 | €510 | €1,139 | ▲ 124% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €2,400 | €428 | €441 | ▲ 3.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €441,122 | €458,132 | €472,716 | €492,892 | €223,311 | €242,497 | €258,518 | €277,238 | ▲ 7.2% |
| Equity10/15 | €176,319 | €191,321 | €194,141 | €198,391 | €200,596 | €204,378 | €210,894 | €218,910 | ▲ 3.8% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €157,719 | €172,721 | €175,541 | €179,791 | €181,996 | €185,778 | €192,294 | €200,310 | ▲ 4.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €44,306 | €38,486 | €32,667 | €26,848 | €21,028 | ▼ 21.7% |
| Distributable reserves133 | - | - | - | €133,626 | €141,650 | €153,111 | €165,446 | €179,282 | ▲ 8.4% |
| Provisions and deferred taxes16 | €26,242 | €13,986 | €11,514 | €11,076 | €9,622 | €8,167 | €6,712 | €5,257 | ▼ 21.7% |
| Deferred taxes168 | - | - | - | €11,076 | €9,622 | €8,167 | €6,712 | €5,257 | ▼ 21.7% |
| Amounts payable17/49 | €238,561 | €252,824 | €267,062 | €283,425 | €13,093 | €29,952 | €40,912 | €53,071 | ▲ 29.7% |
| Amounts payable within one year42/48 | €238,561 | €252,824 | €267,062 | €283,425 | €13,093 | €29,302 | €40,912 | €53,071 | ▲ 29.7% |
| Trade debts44 | - | - | - | €502 | €53 | €1,147 | €1,147 | €114 | ▼ 90.1% |
| Suppliers440/4 | - | - | - | €502 | €53 | €1,147 | €1,147 | €114 | ▼ 90.1% |
| Taxes, remuneration and social security45 | - | - | - | €10,062 | €8,733 | €9,699 | €7,301 | €11,188 | ▲ 53.2% |
| Taxes450/3 | - | - | - | €10,062 | €8,733 | €9,699 | €7,301 | €11,188 | ▲ 53.2% |
| Other amounts payable47/48 | - | - | - | €272,861 | €4,307 | €18,456 | €32,464 | €41,769 | ▲ 28.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €650 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,709 | €9,548 | €5,149 | €9,632 | €2,205 | €3,782 | €6,516 | €8,016 | ▲ 23.0% |
| + Depreciation and write-downs630 | €7,535 | €8,976 | €8,976 | €8,976 | €8,976 | €8,976 | €8,976 | €8,976 | = |
| Operating cash flow (approximation) | €19,244 | €18,524 | €14,125 | €18,608 | €11,181 | €12,758 | €15,492 | €16,992 | ▲ 9.7% |
| Investment in fixed assets (approximation) | - | -€14,410 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€314 | €1,252 | -€609 | -€1,265 | €2,105 | -€2,482 | €629 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as BECY has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BECY itself: 0.5% within 12 months.
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.
| 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 17,041 companies, not a prediction for BECY. 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.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-08-2026 | 2026-00432438 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00418184 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00375408 | |
| 31-12-2022 | micro format | 20-07-2023 | 2023-00253396 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20344851 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-55900016 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-46900470 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-55500239 | |
| 31-12-2017 | micro format | 30-08-2018 | 2018-54700488 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-50600370 |