BEMONG PROJECTS
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 28-08-2026 at the NBB all 19 filings
Turnover
≈ €870,000
Estimated: probably between €480,000 and €1.4m
Total assets
€677,848▲ 4.5%
2025 · €648,634
Net result
€81,990▲ 4.4%
2025 · €78,567
Working capital
€197,430▲ 8.3%
2025 · €182,243
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€122,761
▲ 0.2%
2026
20192026
Net result
€81,990
▲ 4.4%
2026
20192026
Equity
€336,491
▲ 6.0%
2026
20192026
Total assets
€677,848
▲ 4.5%
2026
20192026
Debt
€326,759
▲ 3.4%
2026
20192026
Working capital
€197,430
▲ 8.3%
2026
20192026
Solvency
49.6%
▲ 0.7pp
2026
20192026
Current ratio
3.02
▼ 0.80
2026
20192026
Return on assets (ROA)
12.1%
=
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€29,104-€35,596▲ 22.3%€26,943▼ 24.3%€94,362▲ 250%€77,989▼ 17.4%€89,882▲ 15.2%€122,529▲ 36.3%€122,761▲ 0.2%
Net result€13,527-€17,602▲ 30.1%€12,209within the sector's middle half▼ 30.6%€65,773above the sector's middle half▲ 439%€48,010above the sector's middle half▼ 27.0%€57,132above the sector's middle half▲ 19.0%€78,567above the sector's middle half▲ 37.5%€81,990▲ 4.4%
Equity€175,977-€108,580▼ 38.3%€116,169within the sector's middle half▲ 7.0%€181,942above the sector's middle half▲ 56.6%€218,952above the sector's middle half▲ 20.3%€256,357above the sector's middle half▲ 17.1%€317,423above the sector's middle half▲ 23.8%€336,491▲ 6.0%
Total assets€360,063-€353,295▼ 1.9%€430,012above the sector's middle half▲ 21.7%€568,871above the sector's middle half▲ 32.3%€608,180above the sector's middle half▲ 6.9%€613,410above the sector's middle half▲ 0.9%€648,634above the sector's middle half▲ 5.7%€677,848▲ 4.5%
Debt€184,086-€244,715▲ 32.9%€313,843▲ 28.2%€369,627▲ 17.8%€372,603▲ 0.8%€341,104▼ 8.5%€315,937▼ 7.4%€326,759▲ 3.4%
Working capital€96,123-€42,404▼ 55.9%€32,524within the sector's middle half▼ 23.3%€93,391above the sector's middle half▲ 187%€126,871above the sector's middle half▲ 35.8%€158,632above the sector's middle half▲ 25.0%€182,243above the sector's middle half▲ 14.9%€197,430▲ 8.3%
Solvency48.9%-30.7%▼ 18.1pp27.0%within the sector's middle half▼ 3.7pp32.0%within the sector's middle half▲ 5.0pp36.0%within the sector's middle half▲ 4.0pp41.8%within the sector's middle half▲ 5.8pp48.9%within the sector's middle half▲ 7.1pp49.6%▲ 0.7pp
Current ratio3.88-1.61▼ 2.281.72within the sector's middle half▲ 0.113.41above the sector's middle half▲ 1.692.73above the sector's middle half▼ 0.684.45above the sector's middle half▲ 1.723.83above the sector's middle half▼ 0.623.02▼ 0.80
Return on assets (ROA)3.8%-5.0%▲ 1.2pp2.8%within the sector's middle half▼ 2.1pp11.6%within the sector's middle half▲ 8.7pp7.9%within the sector's middle half▼ 3.7pp9.3%within the sector's middle half▲ 1.4pp12.1%within the sector's middle half▲ 2.8pp12.1%=
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 2026 is 0% higher than in 2025 and the highest since 2022. It is the third rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €677,848
Fixed assets
€382,828 ▼ 4.8%
Current assets
€295,020 ▲ 19.6%
Equity and liabilities €677,848
Equity
€336,491 ▲ 6.0%
Provisions
€14,597 ▼ 4.4%
Debt
€326,759 ▲ 3.4%
Debt's share of the balance-sheet total falls from 48.7% to 48.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€142,205▲
2025 · €141,200
Cash flow
€101,433▲
2025 · €97,237
Debt to equity
0.97▼
2025 · 1.00
ROE
24.4%▼
2025 · 24.8%
Interest coverage
17.17▲
2025 · 16.73
Debt ≤ 1 year
€97,590▲
2025 · €64,454
Debt > 1 year
€229,169▼
2025 · €251,483
Income taxes
€34,275▼
2025 · €37,232
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €347,740 | €4,066 | €16,166 | €12,955 | €1,607 |
| Depreciation and write-downs of the year | €60,869 | €13,438 | €15,482 | €18,670 | €19,443 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €187 awarded · €187 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €91,114 | - | - | €14,813 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,274 | €13,866 | €37,184 | €60,869 | €13,438 | €15,482 | €18,670 | €19,443 | ▲ 4.1% |
| Other operating charges640/8 | - | - | - | €2,409 | €1,482 | €3,601 | €748 | €2,823 | ▲ 278% |
| Non-recurring operating charges66A | - | - | - | €699 | €1,055 | - | €4,742 | €1,273 | ▼ 73.2% |
| Gross operating margin9900 | €46,032 | €50,906 | €66,080 | €158,339 | €93,964 | €108,964 | €146,690 | €146,300 | ▼ 0.3% |
| Operating profit (loss)9901 | €29,104 | €35,596 | €26,943 | €94,362 | €77,989 | €89,882 | €122,529 | €122,761 | ▲ 0.2% |
| Financial income75/76B | - | - | - | €50 | €0 | €539 | €1,034 | €1,111 | ▲ 7.5% |
| Recurring financial income75 | €9 | €49 | €51 | €50 | €0 | €539 | €1,034 | €1,111 | ▲ 7.5% |
| Financial charges65/66B | - | - | - | €10,937 | €7,808 | €7,833 | €8,440 | €8,284 | ▼ 1.9% |
| Recurring financial charges65 | €7,716 | €8,701 | €7,130 | €10,937 | €7,808 | €7,833 | €8,440 | €8,284 | ▼ 1.9% |
| Profit (loss) for the period before taxes9903 | €21,397 | €26,944 | €19,864 | €83,475 | €70,181 | €82,588 | €115,123 | €115,589 | ▲ 0.4% |
| Transfer from deferred taxes780 | - | - | - | €362 | €676 | €676 | €676 | €676 | = |
| Transfer to deferred taxes680 | - | - | - | €17,664 | - | - | - | - | - |
| Income taxes67/77 | €7,870 | €9,342 | €7,655 | €400 | €22,847 | €26,132 | €37,232 | €34,275 | ▼ 7.9% |
| Profit (loss) for the period9904 | €13,527 | €17,602 | €12,209 | €65,773 | €48,010 | €57,132 | €78,567 | €81,990 | ▲ 4.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,150 | €2,704 | €2,704 | €2,704 | €2,704 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €70,655 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €13,527 | €17,602 | €12,209 | -€3,732 | €50,714 | €59,836 | €81,271 | €84,694 | ▲ 4.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €360,063 | €353,295 | €430,012 | €568,871 | €608,180 | €613,410 | €648,634 | €677,848 | ▲ 4.5% |
| Fixed assets21/28 | €230,596 | €241,082 | €352,237 | €436,770 | €408,110 | €408,794 | €401,937 | €382,828 | ▼ 4.8% |
| Tangible fixed assets22/27 | €230,596 | €241,082 | €352,237 | €436,770 | €408,110 | €408,794 | €401,937 | €382,828 | ▼ 4.8% |
| Land and buildings22 | - | - | - | €410,331 | €399,134 | €387,937 | €376,764 | €365,777 | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €950 | €475 | €0 | €13,812 | €10,755 | ▼ 22.1% |
| Furniture and vehicles24 | - | - | - | €2,901 | €3,813 | €16,169 | €11,360 | €6,296 | ▼ 44.6% |
| Assets under construction and advance payments27 | - | - | - | €22,588 | €4,688 | €4,688 | - | - | - |
| Current assets29/58 | €129,467 | €112,213 | €77,775 | €132,101 | €200,070 | €204,616 | €246,697 | €295,020 | ▲ 19.6% |
| Amounts receivable within one year40/41 | €51,307 | €44,350 | €59,595 | €19,545 | €21,505 | €47,380 | €73,695 | €103,918 | ▲ 41.0% |
| Trade receivables40 | - | - | - | €19,545 | €21,505 | €43,890 | €55,990 | €82,610 | ▲ 47.5% |
| Other amounts receivable41 | - | - | - | - | - | €3,490 | €17,705 | €21,308 | ▲ 20.3% |
| Current investments50/53 | - | - | - | - | - | €21,000 | - | - | - |
| Cash at bank and in hand54/58 | €74,821 | €65,574 | €15,913 | €112,556 | €178,565 | €136,237 | €173,002 | €191,102 | ▲ 10.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €360,063 | €353,295 | €430,012 | €568,871 | €608,180 | €613,410 | €648,634 | €677,848 | ▲ 4.5% |
| Equity10/15 | €175,977 | €108,580 | €116,169 | €181,942 | €218,952 | €256,357 | €317,423 | €336,491 | ▲ 6.0% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €0 | €0 | €0 | - |
| Reserves13 | €103,669 | €97,599 | €105,188 | €174,693 | €211,703 | €254,972 | €316,038 | €332,027 | ▲ 5.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €82,913 | €80,209 | €77,505 | €74,801 | €72,097 | ▼ 3.6% |
| Distributable reserves133 | - | - | - | €89,920 | €129,634 | €175,606 | €239,377 | €258,070 | ▲ 7.8% |
| Profit (loss) carried forward14 | €66,108 | €4,781 | €4,781 | €1,049 | €1,049 | €1,385 | €1,385 | €4,463 | ▲ 222% |
| Provisions and deferred taxes16 | - | - | - | €17,301 | €16,625 | €15,949 | €15,273 | €14,597 | ▼ 4.4% |
| Deferred taxes168 | - | - | - | €17,301 | €16,625 | €15,949 | €15,273 | €14,597 | ▼ 4.4% |
| Amounts payable17/49 | €184,086 | €244,715 | €313,843 | €369,627 | €372,603 | €341,104 | €315,937 | €326,759 | ▲ 3.4% |
| Amounts payable after more than one year17 | €150,742 | €174,906 | €268,592 | €330,918 | €299,404 | €295,119 | €251,483 | €229,169 | ▼ 8.9% |
| Financial debts170/4 | - | - | - | €330,918 | €299,404 | €295,119 | €251,483 | €229,169 | ▼ 8.9% |
| Amounts payable within one year42/48 | €33,344 | €69,809 | €45,251 | €38,710 | €73,199 | €45,985 | €64,454 | €97,590 | ▲ 51.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €31,085 | €31,514 | - | €21,982 | €22,314 | ▲ 1.5% |
| Trade debts44 | €7,511 | €22,587 | €5,525 | €4,136 | €2,783 | €1,230 | €2,016 | €1,789 | ▼ 11.2% |
| Suppliers440/4 | - | - | - | €4,136 | €2,783 | €1,230 | €2,016 | €1,789 | ▼ 11.2% |
| Taxes, remuneration and social security45 | - | - | - | €3,342 | €27,645 | €31,903 | €23,832 | €14,471 | ▼ 39.3% |
| Taxes450/3 | - | - | - | €3,342 | €27,645 | €31,903 | €19,596 | €14,471 | ▼ 26.2% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €4,236 | - | - |
| Other amounts payable47/48 | - | - | - | €147 | €11,257 | €12,851 | €16,625 | €59,016 | ▲ 255% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,527 | €17,602 | €12,209 | €65,773 | €48,010 | €57,132 | €78,567 | €81,990 | ▲ 4.4% |
| + Depreciation and write-downs630 | €15,274 | €13,866 | €37,184 | €60,869 | €13,438 | €15,482 | €18,670 | €19,443 | ▲ 4.1% |
| Operating cash flow (approximation) | €28,801 | €31,468 | €49,393 | €126,642 | €61,448 | €72,614 | €97,237 | €101,433 | ▲ 4.3% |
| Investment in fixed assets (approximation) | - | -€24,352 | -€148,339 | -€145,402 | €15,223 | -€16,166 | -€11,813 | -€334 | ▲ 97.2% |
| Change in cash | - | -€9,247 | -€49,661 | €96,643 | €66,010 | -€42,329 | €36,765 | €18,100 | ▼ 50.8% |
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, 17,811 companies had the same profile as BEMONG PROJECTS has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of BEMONG PROJECTS itself: < 0.1% 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 17,811 companies, not a prediction for BEMONG PROJECTS. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 28-08-2026 | 2026-00439210 | |
| 31-03-2025 | micro format | 30-06-2025 | 2025-00198094 | |
| 31-03-2024 | micro format | 27-09-2024 | 2024-00475547 | |
| 31-03-2023 | micro format | 05-07-2023 | 2023-00207222 | |
| 31-03-2022 | micro format | 22-08-2022 | 2022-20301003 | |
| 31-03-2021 | micro format | 23-07-2021 | 2021-39600058 | |
| 31-03-2020 | abbreviated format | 04-07-2020 | 2020-26800160 | |
| 31-03-2019 | abbreviated format | 22-07-2019 | 2019-36200153 | |
| 31-03-2018 | abbreviated format | 11-07-2018 | 2018-31400289 | |
| 31-03-2017 | abbreviated format | 20-07-2017 | 2017-33100441 |