BEPA
ActiveSummary
BEPA has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €262,883 and a net result of -€99,020. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 24% of 2076 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability8▼-39
Solvency48▼-6
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.3 against 1.63 in 2024; short-term debt: 66.6% and cash: 5.8% of total assets), and 76.9% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€99,020
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 2076 sector peers (2025).
NBB · sector comparisonPosition among 2076 sector peers
Solvency
better than 24%
← weakest
strongest →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
22 d late
2023
13 d early
2022
6 d early
2021
12 d early
2020
27 d late
2019
26 d late
← 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 6 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 25 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#7 oldest company in Jemeppe-sur-Sambre, Construction sector#9 employer in Jemeppe-sur-Sambre#9 fastest grower in Jemeppe-sur-Sambre
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€99,020▼ 583%
2024 · -€14,489
Working capital
€226,652▼ 47.4%
2024 · €430,747
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€172,741▲ 47.0%€192,268▲ 11.3%€205,887▲ 7.1%€52,954▼ 74.3%-€77,375
Net result€115,849above the sector's middle half▲ 45.3%€123,338above the sector's middle half▲ 6.5%€141,476above the sector's middle half▲ 14.7%-€14,489below the sector's middle half-€99,020below the sector's middle half▼ 583%
Equity€361,567within the sector's middle half▲ 4.6%€364,916within the sector's middle half▲ 0.9%€376,392within the sector's middle half▲ 3.1%€361,903within the sector's middle half▼ 3.8%€262,883within the sector's middle half▼ 27.4%
Total assets€1.3mwithin the sector's middle half▲ 0.9%€1.1mwithin the sector's middle half▼ 12.5%€1.2mwithin the sector's middle half▲ 3.8%€1.2mwithin the sector's middle half▲ 8.0%€1.1mwithin the sector's middle half▼ 8.6%
Debt€901,754▼ 0.7%€741,053▼ 17.8%€770,344▲ 4.0%€879,595▲ 14.2%€870,652▼ 1.0%
Working capital€390,531above the sector's middle half▲ 36.6%€289,607within the sector's middle half▼ 25.8%€283,681within the sector's middle half▼ 2.0%€430,747within the sector's middle half▲ 51.8%€226,652within the sector's middle half▼ 47.4%
Solvency28.5%within the sector's middle half▲ 1.0pp32.8%within the sector's middle half▲ 4.4pp32.6%within the sector's middle half▼ 0.2pp29.0%within the sector's middle half▼ 3.6pp23.1%below the sector's middle half▼ 6.0pp
Current ratio1.49within the sector's middle half▲ 0.171.39within the sector's middle half▼ 0.101.37within the sector's middle half▼ 0.021.63within the sector's middle half▲ 0.261.30within the sector's middle half▼ 0.33
Return on assets (ROA)9.1%within the sector's middle half▲ 2.8pp11.1%within the sector's middle half▲ 2.0pp12.3%above the sector's middle half▲ 1.2pp-1.2%below the sector's middle half▼ 13.4pp-8.7%below the sector's middle half▼ 7.5pp
Staff (FTE)23.8above the sector's middle half▼ 5.9%24.3above the sector's middle half▲ 2.1%25.5above the sector's middle half▲ 4.9%27.3above the sector's middle half▲ 7.1%27.6above the sector's middle half▲ 1.1%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 €77,375 after €52,954 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€153,670 ▲ 15.2%
Current assets
€985,592 ▼ 11.4%
Equity and liabilities €1.1m
Equity
€262,883 ▼ 27.4%
Provisions
€5,728 ▲ 18.6%
Debt
€870,652 ▼ 1.0%
Debt's share of the balance-sheet total rises from 70.6% to 76.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€40,299▼
2024 · €81,513
Cash flow
-€61,944▼
2024 · €14,070
Quick ratio
0.75▼
2024 · 0.99
Debt to equity
3.31▲
2024 · 2.43
ROE
-37.7%▼
2024 · -4.0%
Interest coverage
-1.59▼
2024 · 3.61
Debt ≤ 1 year
€758,940▲
2024 · €682,138
Debt > 1 year
€38,264▼
2024 · €52,971
Income taxes
€1,364▼
2024 · €49,984
Staff costs
€1.6m▲
2024 · €1.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,507 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.6%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,507 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €1.2m | €1.3m | €1.4m | €1.5m | €1.6m | ▲ 7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,326 | €26,479 | €23,415 | €28,559 | €37,075 | ▲ 29.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€2,267 | €2,442 | €895 | €0 | €1,005 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €1,573 | €5,529 | €1,707 | -€2,408 | €900 | ▲ 137% |
| Other operating charges640/8 | €9,061 | €20,721 | €5,585 | €8,577 | €6,775 | ▼ 21.0% |
| Non-recurring operating charges66A | - | - | - | €146,494 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.4m | €1.6m | €1.7m | €1.8m | €1.6m | ▼ 8.7% |
| Operating profit (loss)9901 | €172,741 | €192,268 | €205,887 | €52,954 | -€77,375 | ▼ 246% |
| Financial income75/76B | €3,929 | €6,086 | €5,001 | €5,102 | €5,099 | ▼ 0.1% |
| Recurring financial income75 | €3,929 | €6,086 | €5,001 | €5,102 | €5,099 | ▼ 0.1% |
| Financial charges65/66B | €13,503 | €11,658 | €14,847 | €22,561 | €25,380 | ▲ 12.5% |
| Recurring financial charges65 | €13,503 | €11,658 | €14,847 | €22,561 | €25,380 | ▲ 12.5% |
| Non-recurring financial charges66B | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €163,167 | €186,696 | €196,041 | €35,495 | -€97,656 | ▼ 375% |
| Income taxes67/77 | €47,317 | €63,358 | €54,564 | €49,984 | €1,364 | ▼ 97.3% |
| Profit (loss) for the period9904 | €115,849 | €123,338 | €141,476 | -€14,489 | -€99,020 | ▼ 583% |
| Profit (loss) for the period to be appropriated9905 | €115,849 | €123,338 | €141,476 | -€14,489 | -€99,020 | ▼ 583% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.1m | €1.2m | €1.2m | €1.1m | ▼ 8.6% |
| Fixed assets21/28 | €81,702 | €80,838 | €99,947 | €133,441 | €153,670 | ▲ 15.2% |
| Tangible fixed assets22/27 | €65,350 | €64,486 | €83,595 | €117,089 | €137,184 | ▲ 17.2% |
| Plant, machinery and equipment23 | €11,645 | €5,894 | €16,494 | €29,528 | €25,906 | ▼ 12.3% |
| Furniture and vehicles24 | €26,855 | €29,535 | €39,534 | €37,267 | €29,177 | ▼ 21.7% |
| Other tangible fixed assets26 | €26,850 | €29,057 | €27,567 | €50,294 | €82,101 | ▲ 63.2% |
| Financial fixed assets28 | €16,352 | €16,352 | €16,352 | €16,352 | €16,487 | ▲ 0.8% |
| Current assets29/58 | €1.2m | €1.0m | €1.1m | €1.1m | €985,592 | ▼ 11.4% |
| Stocks and contracts in progress3 | €375,606 | €366,668 | €426,195 | €437,869 | €420,052 | ▼ 4.1% |
| Stocks30/36 | €375,606 | €366,668 | €426,195 | €437,869 | €420,052 | ▼ 4.1% |
| Amounts receivable within one year40/41 | €602,663 | €448,371 | €556,958 | €602,746 | €493,086 | ▼ 18.2% |
| Trade receivables40 | €584,584 | €446,771 | €555,556 | €602,746 | €478,061 | ▼ 20.7% |
| Other amounts receivable41 | €18,079 | €1,600 | €1,402 | €0 | €15,025 | - |
| Cash at bank and in hand54/58 | €210,046 | €212,413 | €70,769 | €68,949 | €65,940 | ▼ 4.4% |
| Deferred charges and accrued income490/1 | - | €3,208 | €104 | €3,321 | €6,514 | ▲ 96.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.1m | €1.2m | €1.2m | €1.1m | ▼ 8.6% |
| Equity10/15 | €361,567 | €364,916 | €376,392 | €361,903 | €262,883 | ▼ 27.4% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Capital10 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Issued capital100 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €126,250 | €126,250 | €126,250 | €126,250 | €126,250 | = |
| Non-distributable reserves130/1 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Legal reserve130 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | €160,317 | €163,666 | €175,142 | €160,653 | €61,633 | ▼ 61.6% |
| Provisions and deferred taxes16 | €6,695 | €5,529 | €7,236 | €4,828 | €5,728 | ▲ 18.6% |
| Provisions for liabilities and charges160/5 | €6,695 | €5,529 | €7,236 | €4,828 | €5,728 | ▲ 18.6% |
| Environmental obligations163 | €6,695 | €5,529 | €7,236 | €4,828 | €5,728 | ▲ 18.6% |
| Amounts payable17/49 | €901,754 | €741,053 | €770,344 | €879,595 | €870,652 | ▼ 1.0% |
| Amounts payable after more than one year17 | €0 | - | - | €52,971 | €38,264 | ▼ 27.8% |
| Financial debts170/4 | €0 | - | - | €52,971 | €38,264 | ▼ 27.8% |
| Amounts payable within one year42/48 | €797,783 | €741,053 | €770,344 | €682,138 | €758,940 | ▲ 11.3% |
| Current portion of amounts payable after more than one year42 | €15,754 | €0 | €17,664 | €31,743 | €23,553 | ▼ 25.8% |
| Financial debts43 | €100,000 | €100,000 | €0 | €120,000 | €210,000 | ▲ 75.0% |
| Credit institutions430/8 | €100,000 | €100,000 | €0 | €120,000 | €210,000 | ▲ 75.0% |
| Trade debts44 | €357,190 | €334,839 | €436,504 | €304,439 | €289,659 | ▼ 4.9% |
| Suppliers440/4 | €357,190 | €334,839 | €436,504 | €304,439 | €289,659 | ▼ 4.9% |
| Advances received on contracts in progress46 | €59,941 | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €165,090 | €186,214 | €186,176 | €157,957 | €167,728 | ▲ 6.2% |
| Taxes450/3 | €81,761 | €86,001 | €88,768 | €54,992 | €59,864 | ▲ 8.9% |
| Remuneration and social security454/9 | €83,329 | €100,213 | €97,409 | €102,965 | €107,864 | ▲ 4.8% |
| Other amounts payable47/48 | €99,808 | €120,000 | €130,000 | €68,000 | €68,000 | = |
| Accrued charges and deferred income492/3 | €103,971 | €0 | - | €144,486 | €73,447 | ▼ 49.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €115,849 | €123,338 | €141,476 | -€14,489 | -€99,020 | ▼ 583% |
| + Depreciation and write-downs630 | €22,326 | €26,479 | €23,415 | €28,559 | €37,075 | ▲ 29.8% |
| Operating cash flow (approximation) | €138,175 | €149,817 | €164,892 | €14,070 | -€61,944 | ▼ 540% |
| Investment in fixed assets (approximation) | - | -€25,615 | -€42,524 | -€62,053 | -€57,305 | ▲ 7.7% |
| Change in cash | - | €2,367 | -€141,644 | -€1,820 | -€3,010 | ▼ 65.4% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€99,020
Net result drops to -€99,020, the lowest in the series.
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 22 days late
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 26 days late
2019
31-12
Financial
Highest result since 2018net €191,340 ▲651%
Operating result €211,131, net result €191,340, both a record.
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 14 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Jemeppe-sur-Sambre · 1 establishment unit since 1989
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Isidore-Derèse,Mornimont 1715190 Jemeppe-sur-Sambre1 establishment unit
BEPA SA
since 19892.042.463.672
Structure & network
Owners and holdings
1 ownerChain of control
Highest known parent: VM Eco Invest. The sources do not say who stands above it.
Owners 1
- STAF MANAGEMENTparent99.2%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,537 companies in sector 43222 we hold annual accounts for 5,668. 4,643 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-02-1989
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436848012
Registered
08-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.