Checked.be
Active
BE 0418.040.108Public limited company
Berghman
Warandestraat 80 ·8560 Wevelgem, Belgium· 48 yrs active
Sector: Wholesale trade
(46311)
Conclusion
Berghman has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.56M and a net result of €331k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 95% of 4735 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €3.56M |
| Net result | €331k |
| Staff (FTE) | 0.4 |
| Better than sector | 95% |
Financial profile
82
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
47
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1977, 48 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€310k
estimate, not credit advice
Score history
86
2021
100
2022
86
2023
100
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 13.80 (≥ 1.5)
+10
Quick ratio
Quick ratio 13.64 (≥ 1.0)
+5
Leverage
Debt/equity 0.07 (< 1.0)
+10
Profitability
ROE 9%
+3
Interest coverage
Interest coverage 108.6× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-07-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~11%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 93.5% | 45.7% | |
| Net result | €331k | €116k | |
| Equity | €3.56M | €1.64M | |
| Gross operating margin | €621k | €354k | |
| Staff costs | €41k | €781k |
€570k
+1.2%
21-25
€331k
-4.5%
21-25
€469k
-1.0%
21-25
€3.81M
+10.8%
21-25
€3.56M
+10.3%
21-25
€3.09M
+15.1%
21-25
0
-20.0%
21-25
€41k
-6.9%
21-25
€150k
-5.8%
21-25
€246k
+19.2%
21-25
€241k
+22.9%
21-25
13.80
-5.9%
21-25
13.64
-5.7%
21-25
93.5%
-0.5%
21-25
0.07
+8.1%
21-25
9.3%
-13.4%
21-25
8.7%
-13.8%
21-25
108.58
-45.0%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | full schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €570k | €564k | €463k | €602k | €411k |
| Net profit | €331k | €347k | €253k | €341k | €208k |
| Cash flow | €469k | €473k | €360k | €432k | €312k |
| Staff costs | €41k | €44k | €45k | €38k | €33k |
| Income taxes | €150k | €159k | €128k | €165k | €94k |
| Dividends | - | - | - | - | - |
| Total assets | €3.81M | €3.44M | €3.60M | €3.29M | €2.68M |
| Equity | €3.56M | €3.23M | €2.88M | €2.63M | €2.29M |
| Debt | €246k | €207k | €715k | €656k | €394k |
| of which ≤ 1y | €241k | €196k | €709k | €652k | €390k |
| of which > 1y | - | - | - | - | - |
| Working capital | €3.09M | €2.68M | €2.31M | €2.11M | €1.89M |
| Employees (FTE) | 0.4 | 0.5 | 0.6 | 0.7 | 0.6 |
Note: these years are not on the same basis. The filed schemas differ (full schema, abbreviated schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 13.80 | 14.67 | 4.26 | 4.24 | 5.86 |
| Quick ratio | 13.64 | 14.47 | 4.22 | 4.19 | 5.78 |
| Working capital ratio | 81.1% | 78.0% | 64.3% | 64.3% | 70.6% |
| Solvency | 93.5% | 94.0% | 80.1% | 80.0% | 85.3% |
| Debt / equity | 0.07 | 0.06 | 0.25 | 0.25 | 0.17 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 108.58 | 197.51 | 70.92 | 101.69 | 74.18 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 8.7% | 10.1% | 7.0% | 10.4% | 7.8% |
| ROE | 9.3% | 10.7% | 8.8% | 13.0% | 9.1% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €3.81M | €3.44M | €3.60M | €3.29M | €2.68M |
| Fixed assets | 21/28 | €479k | €558k | €574k | €522k | €398k |
| Tangible fixed assets | 22/27 | €479k | €558k | €574k | €522k | €398k |
| Financial fixed assets | 28 | €270 | €270 | €270 | €270 | €270 |
| Current assets | 29/58 | €3.33M | €2.88M | €3.02M | €2.76M | €2.28M |
| Stocks & contracts in progress | 3 | €39k | €39k | €31k | €30k | €30k |
| Amounts receivable within one year | 40/41 | €547k | €315k | €464k | €546k | €652k |
| Investments | 50/53 | €2.35M | €1.52M | €335k | €788k | €906k |
| Cash & bank | 54/58 | €364k | €963k | €2.18M | €1.38M | €676k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €3.81M | €3.44M | €3.60M | €3.29M | €2.68M |
| Equity | 10/15 | €3.56M | €3.23M | €2.88M | €2.63M | €2.29M |
| Contributions / capital | 10/11 | €62k | €62k | €62k | €62k | €62k |
| Reserves | 13 | €2.51M | €2.18M | €1.84M | €1.59M | €1.25M |
| Accumulated profits (losses) | 14 | €987k | €986k | €979k | €978k | €977k |
| Amounts payable | 17/49 | €246k | €207k | €715k | €656k | €394k |
| Amounts payable within one year | 42/48 | €241k | €196k | €709k | €652k | €390k |
| Trade debts payable within one year | 44 | €136k | €149k | €483k | €446k | €266k |
| Income statement | ||||||
| Gross operating margin | 9900 | €621k | €621k | €518k | €660k | €464k |
| Operating result | 9901 | €433k | €437k | €356k | €511k | €307k |
| Financial income | 75 | €53k | €71k | €31k | €717 | €512 |
| Financial charges | 65 | €5k | €3k | €7k | €6k | €6k |
| Result before taxes | 9903 | €481k | €506k | €381k | €506k | €302k |
| Income taxes | 67/77 | €150k | €159k | €128k | €165k | €94k |
| Net result for the period | 9904 | €331k | €347k | €253k | €341k | €208k |
| Result to be appropriated | 9905 | €331k | €347k | €253k | €341k | €208k |
Legal Structure
| NACE primary | Wholesale trade(46311) |
| Legal form | Public limited company(014) |
| Incorporation | 09-11-1977 |
| Status | Active |
| Postal code | 8560 |
Establishment units
Warandestraat 80, 8560 Wevelgem
since 19772.014.730.283
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34029B1300/00E004 | Flanders | 960 m² | 1 · 127 m² | 9.2 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
31-12
Financial
Highest result since 2021net €347k ▲37.2%
Net result €347k, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 14.67
Current ratio from 4.26 to 14.67; short-term debt falls from €709k to €196k.
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 54 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Wholesale trade4631151310Growing of cereals (except rice), leguminous crops and oil seeds01110Growing of vegetables, melons, roots and tubers01130Crop and animal production, hunting and related service activities01199Wholesale of agricultural produce and animal feed, general range46216Freight transport by road4941051210
Names & trade names
| Legal nameNL | Berghman |
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