BEOLOGIC
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 03-07-2026 at the NBB all 35 filings
Turnover
≈ €3.8m
Estimated: probably between €2.6m and €6.3m
EBIT margin
Not included in this filing
Net result
€15,819▼ 55.5%
2024 · €35,586
Working capital
€96,823▲ 22.3%
2024 · €79,178
In the rankings
#9 company by staff growth in West Flanders, Rubber and plastics sector#10 employer in Zwevegem, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€159,639
▼ 46.0%
2025
20182025
Net result
€15,819
▼ 55.5%
2025
middle half of the sector
20182025
Equity
€987,006
▲ 1.6%
2025
middle half of the sector
20182025
Total assets
€4.7m
▼ 1.6%
2025
middle half of the sector
20182025
Debt
€3.7m
▼ 2.4%
2025
20182025
Working capital
€96,823
▲ 22.3%
2025
lowest quarter of the sector
20182025
Solvency
21.0%
▲ 0.7pp
2025
lowest quarter of the sector
20182025
Current ratio
1.03
▲ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
0.3%
▼ 0.4pp
2025
middle half of the sector
20182025
Staff (FTE)
23.2
▼ 13.1%
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-€0.01m-€0.5m€0.1m▼ 78.8%€0.6m▲ 404%€0.2m▼ 60.7%€0.1m▼ 56.6%€0.3m▲ 201%€0.2m▼ 46.0%
Net result-€0.07m-€0.4m€0.04mwithin the sector's middle half▼ 90.7%€0.4mabove the sector's middle half▲ 772%€0.07mwithin the sector's middle half▼ 79.4%-€0.06mbelow the sector's middle half€0.04mwithin the sector's middle half€0.02mwithin the sector's middle half▼ 55.5%
Equity€0.1m-€0.6m▲ 351%€0.6mwithin the sector's middle half▲ 7.2%€0.9mwithin the sector's middle half▲ 58.7%€0.9mwithin the sector's middle half▼ 3.9%€0.8mwithin the sector's middle half▼ 6.9%€1.0mwithin the sector's middle half▲ 14.8%€1.0mwithin the sector's middle half▲ 1.6%
Total assets€2.1m-€2.0m▼ 5.9%€1.9mwithin the sector's middle half▼ 3.8%€2.6mwithin the sector's middle half▲ 37.4%€3.9mwithin the sector's middle half▲ 46.4%€4.1mabove the sector's middle half▲ 5.1%€4.8mabove the sector's middle half▲ 17.4%€4.7mwithin the sector's middle half▼ 1.6%
Debt€2.0m-€1.4m▼ 27.8%€1.3m▼ 8.1%€1.7m▲ 27.9%€3.0m▲ 74.3%€3.2m▲ 8.8%€3.8m▲ 18.1%€3.7m▼ 2.4%
Working capital€0.2m-€0.6m▲ 155%€0.7mwithin the sector's middle half▲ 19.1%€1.2mabove the sector's middle half▲ 68.7%€0.2mwithin the sector's middle half▼ 83.0%€0.04mbelow the sector's middle half▼ 78.5%€0.08mwithin the sector's middle half▲ 76.0%€0.1mbelow the sector's middle half▲ 22.3%
Solvency5.8%-27.7%▲ 22.0pp30.9%within the sector's middle half▲ 3.2pp35.7%within the sector's middle half▲ 4.8pp23.4%below the sector's middle half▼ 12.3pp20.8%below the sector's middle half▼ 2.7pp20.3%below the sector's middle half▼ 0.5pp21.0%below the sector's middle half▲ 0.7pp
Current ratio1.14-1.47▲ 0.341.65within the sector's middle half▲ 0.171.93within the sector's middle half▲ 0.281.08below the sector's middle half▼ 0.851.02below the sector's middle half▼ 0.061.02below the sector's middle half▲ 0.011.03below the sector's middle half▲ 0.01
Return on assets (ROA)-3.4%-21.6%▲ 24.9pp2.1%within the sector's middle half▼ 19.5pp13.2%within the sector's middle half▲ 11.1pp1.9%within the sector's middle half▼ 11.4pp-1.5%below the sector's middle half▼ 3.4pp0.7%within the sector's middle half▲ 2.3pp0.3%within the sector's middle half▼ 0.4pp
Staff (FTE)8.5-10.4▲ 22.4%12.8within the sector's middle half▲ 23.1%16.4within the sector's middle half▲ 28.1%21.8above the sector's middle half▲ 32.9%23.6above the sector's middle half▲ 8.3%26.7above the sector's middle half▲ 13.1%23.2within the sector's middle half▼ 13.1%
above
within
below
The sector band is the middle half of the companies in Manufacture of rubber and plastic products (NACE 22). 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 46% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.7m
Fixed assets
€1.3m ▼ 3.2%
Current assets
€3.4m ▼ 0.9%
Equity and liabilities €4.7m
Equity
€987,006 ▲ 1.6%
Debt
€3.7m ▼ 2.4%
Debt's share of the balance-sheet total falls from 79.7% to 79.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€614,142▼
2024 · €657,381
Cash flow
€470,322▲
2024 · €397,080
Quick ratio
0.44▼
2024 · 0.52
Debt to equity
3.77▼
2024 · 3.92
ROE
1.6%▼
2024 · 3.7%
Interest coverage
4.32▲
2024 · 2.67
Debt ≤ 1 year
€3.3m▼
2024 · €3.4m
Debt > 1 year
€414,050▲
2024 · €327,370
Income taxes
€1,545▼
2024 · €15,676
Staff costs
€1.7m▼
2024 · €1.8m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 23 | 23 | 25 | 23 |
| full-time | 23 | 22 | 24 | 20 |
| part-time | - | 1 | 1 | 3 |
| in full-time equivalents | 23 | 22.5 | 24.9 | 22.3 |
| Average over the year, in full-time equivalents | 21.8 | 23.6 | 26.7 | 23.2 |
| On a permanent contract | 23 | 21 | 24 | 23 |
| Joined | 4 | 8 | 11 | 3 |
| Left | 1 | 8 | 9 | 5 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €378,824 | €468,230 | €522,553 | €645,903 |
| Mandates to pledge the business | €300,000 | €300,000 | €300,000 | €300,000 |
| Pledge on other assets, amount secured | - | €1.2m | €1.2m | €1.2m |
| Carrying value of the other pledged assets | €800,000 | €1.6m | €1.7m | €2.0m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1.4m | €443,228 | €549,072 | €411,308 |
| Intangible fixed assets | - | - | €175,000 | - |
| Depreciation and write-downs of the year | €181,480 | €316,787 | €361,494 | €454,503 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 10 entries · €436,201 awarded · €159,610 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 4 | €369,383 | €117,792 |
| 2024 | 2 | €50,000 | €33,761 |
| 2023 | 3 | €11,818 | €3,057 |
| 2022 | 1 | €5,000 | €5,000 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €0.05m | - |
| Remuneration, social security and pensions62 | - | - | - | - | €1.4m | €1.7m | €1.8m | €1.7m | ▼ 7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.09m | €0.07m | €0.03m | €0.2m | €0.3m | €0.4m | €0.5m | ▲ 25.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.02m | - | €0.2m | -€0.1m | - |
| Other operating charges640/8 | - | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | ▲ 2.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.02m | €0.004m | - | - |
| Gross operating margin9900 | €0.6m | €1.2m | €1.1m | €1.7m | €1.8m | €2.1m | €2.7m | €2.2m | ▼ 17.6% |
| Operating profit (loss)9901 | -€0.01m | €0.5m | €0.1m | €0.6m | €0.2m | €0.1m | €0.3m | €0.2m | ▼ 46.0% |
| Financial income75/76B | - | - | - | - | €0.003m | €0.001m | €0.001m | €16 | ▼ 98.8% |
| Recurring financial income75 | €0.002m | €0.003m | €470 | €0.006m | €0.003m | €0.001m | €0.001m | €16 | ▼ 98.8% |
| Financial charges65/66B | - | - | - | - | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 42.1% |
| Recurring financial charges65 | €0.06m | €0.1m | €0.06m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 42.1% |
| Profit (loss) for the period before taxes9903 | -€0.07m | €0.4m | €0.05m | €0.5m | €0.1m | -€0.06m | €0.05m | €0.02m | ▼ 66.1% |
| Income taxes67/77 | €0.001m | €0.01m | €0.01m | €0.1m | €0.04m | €0.001m | €0.02m | €0.002m | ▼ 90.1% |
| Profit (loss) for the period9904 | -€0.07m | €0.4m | €0.04m | €0.4m | €0.07m | -€0.06m | €0.04m | €0.02m | ▼ 55.5% |
| Profit (loss) for the period to be appropriated9905 | -€0.07m | €0.4m | €0.04m | €0.4m | €0.07m | -€0.06m | €0.04m | €0.02m | ▼ 55.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.1m | €2.0m | €1.9m | €2.6m | €3.9m | €4.1m | €4.8m | €4.7m | ▼ 1.6% |
| Fixed assets21/28 | €0.1m | €0.09m | €0.07m | €0.09m | €1.0m | €1.1m | €1.3m | €1.3m | ▼ 3.2% |
| Intangible fixed assets21 | €0.001m | €0.001m | - | - | - | - | €0.05m | €0.04m | ▼ 33.3% |
| Tangible fixed assets22/27 | €0.1m | €0.09m | €0.07m | €0.09m | €1.0m | €1.1m | €1.3m | €1.3m | ▼ 2.0% |
| Plant, machinery and equipment23 | - | - | - | - | €0.6m | €0.7m | €0.9m | €0.9m | ▼ 1.6% |
| Furniture and vehicles24 | - | - | - | - | €0.05m | €0.04m | €0.03m | €0.03m | ▲ 4.1% |
| Leasing and similar rights25 | - | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 13.7% |
| Other tangible fixed assets26 | - | - | - | - | €0.08m | €0.1m | €0.2m | €0.2m | ▲ 9.3% |
| Current assets29/58 | €2.0m | €1.9m | €1.9m | €2.6m | €2.9m | €2.9m | €3.4m | €3.4m | ▼ 0.9% |
| Stocks and contracts in progress3 | €0.9m | €0.8m | €1.1m | €1.6m | €1.6m | €1.6m | €1.7m | €2.0m | ▲ 15.0% |
| Stocks30/36 | - | - | - | - | €1.6m | €1.6m | €1.7m | €2.0m | ▲ 15.0% |
| Amounts receivable within one year40/41 | €1.1m | €1.0m | €0.7m | €0.9m | €1.2m | €1.2m | €1.7m | €1.2m | ▼ 26.3% |
| Trade receivables40 | - | - | - | - | €0.9m | €0.9m | €1.1m | €1.0m | ▼ 13.1% |
| Other amounts receivable41 | - | - | - | - | €0.3m | €0.3m | €0.5m | €0.2m | ▼ 55.7% |
| Cash at bank and in hand54/58 | €0.04m | €0.1m | €0.07m | €0.03m | €0.02m | €0.1m | €0.03m | €0.2m | ▲ 694% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.008m | €0.01m | €0.04m | €0.01m | ▼ 64.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.1m | €2.0m | €1.9m | €2.6m | €3.9m | €4.1m | €4.8m | €4.7m | ▼ 1.6% |
| Equity10/15 | €0.1m | €0.6m | €0.6m | €0.9m | €0.9m | €0.8m | €1.0m | €1.0m | ▲ 1.6% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | = |
| Reserves13 | €0.01m | €0.4m | €0.4m | €0.8m | €0.8m | €0.7m | €0.8m | €0.8m | ▲ 2.0% |
| Non-distributable reserves130/1 | - | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | - | €0.7m | €0.7m | €0.8m | €0.8m | ▲ 2.0% |
| Profit (loss) carried forward14 | -€0.04m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €2.0m | €1.4m | €1.3m | €1.7m | €3.0m | €3.2m | €3.8m | €3.7m | ▼ 2.4% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.1m | €0.4m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 26.5% |
| Financial debts170/4 | - | - | - | - | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 26.5% |
| Amounts payable within one year42/48 | €1.8m | €1.3m | €1.1m | €1.3m | €2.6m | €2.9m | €3.4m | €3.3m | ▼ 1.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 18.8% |
| Financial debts43 | - | - | - | - | €0.9m | €1.0m | €0.8m | - | - |
| Credit institutions430/8 | - | - | - | - | €0.9m | €1.0m | €0.8m | - | - |
| Trade debts44 | €1.0m | €0.5m | €0.7m | €0.6m | €1.0m | €1.1m | €0.9m | €1.2m | ▲ 32.9% |
| Suppliers440/4 | - | - | - | - | €1.0m | €1.1m | €0.9m | €1.2m | ▲ 32.9% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.2m | €0.1m | €0.2m | €0.2m | ▼ 11.8% |
| Taxes450/3 | - | - | - | - | €0.04m | €473 | €0.02m | €0.002m | ▼ 86.6% |
| Remuneration and social security454/9 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 4.3% |
| Other amounts payable47/48 | - | - | - | - | €0.5m | €0.5m | €1.3m | €1.7m | ▲ 34.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.06m | €0.02m | €0.1m | €0.001m | ▼ 99.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.07m | €0.4m | €0.04m | €0.4m | €0.07m | -€0.06m | €0.04m | €0.02m | ▼ 55.5% |
| + Depreciation and write-downs630 | €0.08m | €0.09m | €0.07m | €0.03m | €0.2m | €0.3m | €0.4m | €0.5m | ▲ 25.7% |
| Operating cash flow (approximation) | €0.009m | €0.5m | €0.1m | €0.4m | €0.3m | €0.3m | €0.4m | €0.5m | ▲ 18.4% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.04m | -€0.05m | -€1.1m | -€0.4m | -€0.6m | -€0.4m | ▲ 27.1% |
| Change in cash | - | €0.07m | -€0.04m | -€0.04m | -€0.008m | €0.07m | -€0.07m | €0.2m | - |
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, 4,685 companies had the same profile as BEOLOGIC has now. Two years later, 96.9% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.9%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of BEOLOGIC itself: 0.6% 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 4,685 companies, not a prediction for BEOLOGIC. 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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 03-07-2026 | 2026-00249943 | |
| 31-12-2024 | abbreviated format | 07-07-2025 | 2025-00239536 | |
| 31-12-2023 | abbreviated format | 09-07-2024 | 2024-00231869 | |
| 31-12-2022 | abbreviated format | 18-04-2023 | 2023-00064285 | |
| 31-12-2021 | abbreviated format | 17-03-2022 | 2022-07900383 | |
| 31-12-2020 | abbreviated format | 07-06-2021 | 2021-18000095 | |
| 31-12-2019 | abbreviated format | 03-06-2020 | 2020-14500284 | |
| 31-12-2018 | abbreviated format | 05-07-2019 | 2019-32300022 | |
| 31-12-2017 | abbreviated format | 13-07-2018 | 2018-33100493 | |
| 31-12-2016 | abbreviated format | 16-08-2017 | 2017-43900119 |