BEE Operation Services
ActiveSummary
The computed 12-month bankruptcy probability of BEE Operation Services is 2.8% (moderate). The 2025 annual accounts show negative equity (-€803,576) and a net result of -€523,185. Equity has been shrinking by about 154% per year since 2023. Its solvency ranks better than 5% of 352 sector peers (NACE 35, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 16-12-2023 Normal situation
- Activity
- Production of electricity from non-renewable sources NACE 35110and 4 others
- Joint committee
- 326 Paritair Comité voor het gas- en elektriciteitsbedrijf · annual accounts 2025
- Establishment units
- 2.353.425.381 9000 Gent, since 16-12-2023
- 2.353.425.480 2800 Mechelen, since 16-12-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 16-01-2024
Board and ownership
- BUYSE Vicky Dorine IngridDirector · since 14-12-2023
- Auditor
- BV MOORE AUDIT
- BELGIAN ECO ENERGY100%· score 942025 annual accounts of BELGIAN ECO ENERGY
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.8%
- Gross margin
- €1.6m
- ▲ 19.9%
- Turnover
- ≈ €2.7m
- estimated
- Loss
- €523,185
- ▲ 52.8%
- Equity
- -€803,576
- ▼ 187%
- Total assets
- €1.7m
- ▲ 42.9%
- Employees on 31-12-2025
- 18
- ▲ 12.5%
- €91,192 of overdue tax debts on 31-12-2025
- Negative equity on 31-12-2025
Score breakdownraises riskNegative equity -€803,576Loss of €523,185, the second in a row (financial year 2025)Size: 17.2 FTE, total assets €1.7mlowers riskFounded in 2023Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 35, small). It does better than 1% of them on solvency, 1% on liquidity, 2% on profitability and 5% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 17 days before the deadline. In the sector (NACE 35), the median for financial year 2024 was 22 days before the deadline, and 27% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 23-07-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is a loss of €498,995, larger than the loss of €332,133 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Electricity, gas, steam and air conditioning supply (NACE 35). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
- 2025 Net result -53% on 2024. The accounts now follow the full format, last year the abbreviated format.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 16 | 18 |
| full-time | 15 | 16 |
| part-time | 1 | 2 |
| in full-time equivalents | 15.5 | 17 |
| Average over the year, in full-time equivalents | 14.1 | 17.2 |
| On a permanent contract | 16 | 18 |
| Joined | 20 | 6 |
| Left | 4 | 4 |
| Training hours | 64 | 100 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Overdue debts
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Overdue tax debts | - | €121,090 | €91,192 |
Source: notes to the 2023 to 2025 annual accounts (statement of debts)
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | €122,582 | €33,980 |
| Depreciation and write-downs of the year | - | €19,405 | €46,101 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €361 awarded| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Turnover70 | - | €4.2m | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €3.1m | - | - |
| Remuneration, social security and pensions62 | - | €1.6m | €2.0m | ▲ 24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €0.02m | €0.05m | ▲ 138% |
| Other operating charges640/8 | - | €0.001m | €0.001m | ▲ 12.7% |
| Gross operating margin9900 | - | €1.3m | €1.6m | ▲ 19.9% |
| Operating profit (loss)9901 | - | -€0.3m | -€0.5m | ▼ 50.2% |
| Financial income75/76B | - | €22 | €0 | ▼ 99.9% |
| Recurring financial income75 | - | €22 | €0 | ▼ 99.9% |
| Financial charges65/66B | - | €0.01m | €0.02m | ▲ 135% |
| Recurring financial charges65 | - | €0.01m | €0.02m | ▲ 135% |
| Profit (loss) for the period before taxes9903 | - | -€0.3m | -€0.5m | ▼ 52.8% |
| Profit (loss) for the period9904 | - | -€0.3m | -€0.5m | ▼ 52.8% |
| Profit (loss) for the period to be appropriated9905 | - | -€0.3m | -€0.5m | ▼ 52.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €0.06m | €1.2m | €1.7m | ▲ 42.9% |
| Formation expenses20 | €0.001m | €0.001m | €0.001m | ▼ 25.0% |
| Fixed assets21/28 | - | €0.1m | €0.09m | ▼ 11.5% |
| Tangible fixed assets22/27 | - | €0.1m | €0.09m | ▼ 11.5% |
| Plant, machinery and equipment23 | - | €0.1m | €0.08m | ▼ 22.5% |
| Furniture and vehicles24 | - | - | €0.01m | - |
| Leasing and similar rights25 | - | - | €0 | - |
| Current assets29/58 | €0.06m | €1.1m | €1.6m | ▲ 48.1% |
| Stocks and contracts in progress3 | - | €0.1m | €0.2m | ▲ 54.1% |
| Stocks30/36 | - | €0.1m | €0.2m | ▲ 54.1% |
| Amounts receivable within one year40/41 | - | €0.9m | €1.3m | ▲ 39.7% |
| Trade receivables40 | - | €0.9m | €1.3m | ▲ 39.7% |
| Other amounts receivable41 | - | €0.002m | €0.004m | ▲ 69.7% |
| Cash at bank and in hand54/58 | €0.06m | €0.06m | €0.007m | ▼ 87.5% |
| Deferred charges and accrued income490/1 | - | €0.02m | €0.2m | ▲ 11× |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €0.06m | €1.2m | €1.7m | ▲ 42.9% |
| Equity10/15 | €0.06m | -€0.3m | -€0.8m | ▼ 187% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | = |
| Capital10 | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | - | -€0.3m | -€0.9m | ▼ 153% |
| Amounts payable17/49 | €0.001m | €1.5m | €2.5m | ▲ 70.1% |
| Amounts payable within one year42/48 | €0.001m | €1.5m | €2.5m | ▲ 70.3% |
| Trade debts44 | €0.001m | €0.9m | €1.6m | ▲ 78.3% |
| Suppliers440/4 | €0.001m | €0.9m | €1.6m | ▲ 78.3% |
| Taxes, remuneration and social security45 | - | €0.3m | €0.4m | ▲ 17.4% |
| Taxes450/3 | - | €0.2m | €0.1m | ▼ 17.9% |
| Remuneration and social security454/9 | - | €0.1m | €0.2m | ▲ 61.4% |
| Other amounts payable47/48 | - | €0.2m | €0.5m | ▲ 108% |
| Accrued charges and deferred income492/3 | - | €0.007m | €0.009m | ▲ 21.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | - | -€342,391 | -€523,185 | ▼ 52.8% |
| + Depreciation and write-downs630 | - | €19,405 | €46,101 | ▲ 138% |
| Operating cash flow (approximation) | - | -€322,986 | -€477,084 | ▼ 47.7% |
| Investment in fixed assets (approximation) | - | - | -€34,250 | - |
| Change in cash | - | -€3,709 | -€51,005 | ▼ 1,275% |
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, 490 companies had the same profile as BEE Operation Services has now. Two years later, 6.7% had gone bankrupt and 88.8% were still going.
- Small
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BEE Operation Services itself: 2.8% 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 490 companies, not a prediction for BEE Operation Services. 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.
Board & ownership
Directors
Board 1
Statutory auditor 1
Owners and capital
Shareholders
1 ownerChain of control
- BELGIAN ECO ENERGY
- BEE Operation Services
Owners 1
- BELGIAN ECO ENERGYparentEquity €11.3m Profit of €3.1m in 2025 (profit of €3.1m in 2024) Checked score 94100%
Capital transactions
- BELGIAN ECO ENERGY (BE 0829.482.335) 1,000 shares (100%) · €62,000 in cash
- 20-12-2023 Incorporation · €62,000 · 1,000 shares
Mandate history
- Board
- Statutory auditor
| Name | Functions and periods |
|---|---|
| BUYSE Vicky Dorine Ingrid |
|
| BV MOORE AUDIT |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Raad kan voorzitter benoemen,anders aangeduide aanwezige bestuurder, eindigend bestuurder blijft in functie indien aantal onder wettelijk…”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Alle machten artikel 2:87 Wetboek van vennootschappen en verenigingen zonder bijzondere machtiging, algemene vergadering kan te allen tijde…”
Articles of association, deed of 20-12-2023 (in Dutch)
Network & group
Companies at the same address
8 other companies- Astara Western Europe Establishment · since 2026 0473558156
- Encorta Steam Ghent Registered office · since 2025 1031927570
- Fidiaz Establishment · since 2022 0831832408
- COBERNA Establishment · since 2019 0444675516
- Bee Green Wallonia Registered office · since 2016 0665910443
- Gentse Warmte Centrale Registered office · since 2013 0536885793
- BELGIAN ECO ENERGY Registered office · since 2010 0829482335
- RAYNET Establishment · since 2008 0807166791
Connections & network
1 current directorThe network starts from the directors of BEE Operation Services. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
27-10
Gazette deed
Appointment: Moore Audit BV (statutory auditor)2 points ▸
- General meeting, 05-12-2024
- Auditor appointment, Moore Audit BV (statutory auditor)
20-12
Gazette deed
IncorporationStarting capital €62,000 · Appointment: BUYSE Vicky Dorine Ingrid (director) · Founder7 points ▸
- Founder, BELGIAN ECO ENERGY
- Incorporation, “BEE Operation Services” (deed in Dutch)
- Founding capital, €62,000
- Bank account, “dossier notaris, bijzondere rekening” (deed in Dutch)
- Other provision, “verzoek tot vaststelling oprichting en statuten, bij authentieke akte de oprichting en de statuten vast te stellen van de hierna genoemde vennootschap” (deed in Dutch)
- Capital, €62,000
- Director appointment, BUYSE Vicky Dorine Ingrid (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
14 activities
- Ontwikkelen,investeren en exploiteren van biogas- en biomassa-installaties,windparken en PV-installaties in binnen- en buitenland
- Opwekken van thermische en elektrische energie uit vergisting of verbranding van biomassa
- Vermarkten van groene stroom,groenestroomcertificaten en warmtekrachtkoppelingscertificaten
- Vermarkten en exporteren van gekorreld en gedroogd einddigestaat
- Afvalwaterzuivering van het vloeibare gedeelte afkomstig van het productieproces of afvalwaterzuivering voor derden
- Het leveren van elektriciteit,gas en andere energiedragers (bv. Biobrandstoffen) aan bedrijven en eindconsumenten
- Het telen,inkopen en verhandelen van biomassa voor energiedoeleinden
- Het ontwikkelen,installeren,onderhouden en vermakten van mini-WKK,micro- WKK en andere energie-installaties zowel voor industriële klanten,KMO’s als consumenten
- Het verhandelen van stroom en gas op de groothandelsmarkt (trading)
- Deelnames in bedrijven die gerelateerd zijn aan energie (biomassa,technologie,leveringsbedrijven,enzovoort)
- Het verwerven van participaties,in eender welke vorm,in alle bestaande of op te richten rechtspersonen of ondernemingen,het stimuleren,plannen en coördineren van de ontwikkeling van voormelde rechtspersonen of ondernemingen
- Het waarnemen van bestuursopdrachten en -mandaten,het uitoefenen van opdrachten en functies
- Dienstverlening aan bedrijven inzake het uitbaten,opereren,onderhouden en algemeen beheer van activa in de energie- en infrastructuursector
- Het operationeel uitvoeren van dagelijkse activiteiten die nodig zijn om locaties waar voornoemde activiteiten worden gedreven en de relevante apparatuur te onderhouden
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 1003.486.972
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12403E0765/00H000 | Flanders | 5,053 m² | 1 · 1,023 m² | 15.1 m · 4 |
| 44051A0322/00G000indicative | Flanders | 939 m² | 1 · 231 m² | 14.3 m · 1 |