BERNAUW
ActiveSummary
BERNAUW has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.8m and a net result of €159,033. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 88% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+24
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity ample (current ratio 7.47 against 6.28 in 2024; short-term debt: 13.3% and cash: 28.7% of total assets), and 14.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
85.7%
Return on assets
7.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.8m
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
57 d early
2023
23 d early
2022
on the day
2021
24 d early
2020
30 d late
2019
23 d early
← 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 17 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.8m▲ 9.4%
2024 · €1.7m
Total assets
€2.2m▲ 8.7%
2024 · €2.0m
Net result
€159,033▲ 232%
2024 · €47,856
Working capital
€1.9m▲ 30.4%
2024 · €1.4m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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€53,653▼ 38.9%€17,747▼ 66.9%€13,493▼ 24.0%€40,293▲ 199%€100,464▲ 149%
Net result€40,676within the sector's middle half▼ 3.7%€8,169within the sector's middle half▼ 79.9%€18,130within the sector's middle half▲ 122%€47,856within the sector's middle half▲ 164%€159,033above the sector's middle half▲ 232%
Equity€1.6mabove the sector's middle half▲ 1.6%€1.6mabove the sector's middle half▼ 0.4%€1.6mabove the sector's middle half▲ 0.2%€1.7mabove the sector's middle half▲ 2.9%€1.8mabove the sector's middle half▲ 9.4%
Total assets€2.2mwithin the sector's middle half▼ 13.7%€2.2mwithin the sector's middle half▲ 0.2%€2.0mwithin the sector's middle half▼ 10.0%€2.0mwithin the sector's middle half▲ 1.2%€2.2mwithin the sector's middle half▲ 8.7%
Debt€527,847▼ 41.3%€538,366▲ 2.0%€317,376▼ 41.0%€292,897▼ 7.7%€307,332▲ 4.9%
Working capital€1.6mabove the sector's middle half▲ 2.0%€1.6mabove the sector's middle half▲ 0.8%€1.6mabove the sector's middle half▲ 1.6%€1.4mabove the sector's middle half▼ 12.9%€1.9mabove the sector's middle half▲ 30.4%
Solvency75.7%above the sector's middle half▲ 11.4pp75.3%above the sector's middle half▼ 0.4pp83.8%above the sector's middle half▲ 8.5pp85.2%above the sector's middle half▲ 1.4pp85.7%above the sector's middle half▲ 0.5pp
Current ratio4.04above the sector's middle half▲ 1.233.99above the sector's middle half▼ 0.056.16above the sector's middle half▲ 2.166.28above the sector's middle half▲ 0.127.47above the sector's middle half▲ 1.18
Return on assets (ROA)1.9%within the sector's middle half▲ 0.2pp0.4%below the sector's middle half▼ 1.5pp0.9%within the sector's middle half▲ 0.5pp2.4%within the sector's middle half▲ 1.5pp7.4%within the sector's middle half▲ 5.0pp
Staff (FTE)1.5below the sector's middle half=0.3below the sector's middle half▼ 80.0%0.2below the sector's middle half▼ 33.3%0.2below the sector's middle half=0.2below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 149% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€9,419 ▼ 96.7%
Current assets
€2.1m ▲ 26.6%
Equity and liabilities €2.2m
Equity
€1.8m ▲ 9.4%
Debt
€307,332 ▲ 4.9%
Debt's share of the balance-sheet total falls from 14.8% to 14.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€104,199▲
2024 · €43,317
Cash flow
€162,768▲
2024 · €50,879
Quick ratio
7.10▲
2024 · 5.82
Debt to equity
0.17▼
2024 · 0.17
ROE
8.6%▲
2024 · 2.8%
Interest coverage
3.52▲
2024 · 1.41
Debt ≤ 1 year
€287,593▲
2024 · €269,937
Income taxes
€25,963▲
2024 · €14,418
Staff costs
€12,314▲
2024 · €10,632
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 31,349 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €748 | €79 | ▼ 89.5% |
| Remuneration, social security and pensions62 | €58,627 | €7,382 | €6,043 | €10,632 | €12,314 | ▲ 15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,036 | €22,188 | €21,937 | €3,024 | €3,735 | ▲ 23.5% |
| Other operating charges640/8 | €5,402 | €5,328 | €5,859 | €2,807 | €6,721 | ▲ 139% |
| Non-recurring operating charges66A | - | - | - | €114 | €27 | ▼ 76.6% |
| Gross operating margin9900 | €154,718 | €52,645 | €47,332 | €56,870 | €123,261 | ▲ 117% |
| Operating profit (loss)9901 | €53,653 | €17,747 | €13,493 | €40,293 | €100,464 | ▲ 149% |
| Financial income75/76B | €4,079 | €9,659 | €29,254 | €52,746 | €114,171 | ▲ 116% |
| Recurring financial income75 | €4,079 | €9,659 | €29,254 | €52,746 | €114,171 | ▲ 116% |
| Financial charges65/66B | €16,089 | €16,433 | €19,002 | €30,765 | €29,639 | ▼ 3.7% |
| Recurring financial charges65 | €16,089 | €16,433 | €19,002 | €30,765 | €29,639 | ▼ 3.7% |
| Profit (loss) for the period before taxes9903 | €41,643 | €10,973 | €23,744 | €62,274 | €184,996 | ▲ 197% |
| Income taxes67/77 | €967 | €2,804 | €5,614 | €14,418 | €25,963 | ▲ 80.1% |
| Profit (loss) for the period9904 | €40,676 | €8,169 | €18,130 | €47,856 | €159,033 | ▲ 232% |
| Profit (loss) for the period to be appropriated9905 | €40,676 | €8,169 | €18,130 | €47,856 | €159,033 | ▲ 232% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.2m | €2.0m | €2.0m | €2.2m | ▲ 8.7% |
| Fixed assets21/28 | €48,374 | €27,005 | €5,068 | €287,458 | €9,419 | ▼ 96.7% |
| Intangible fixed assets21 | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €48,374 | €27,005 | €5,068 | €4,688 | €9,419 | ▲ 101% |
| Land and buildings22 | - | - | - | - | €7,269 | - |
| Plant, machinery and equipment23 | - | - | - | €848 | €925 | ▲ 9.1% |
| Furniture and vehicles24 | €48,374 | €27,005 | €5,068 | €3,840 | €1,224 | ▼ 68.1% |
| Financial fixed assets28 | - | - | - | €282,770 | - | - |
| Current assets29/58 | €2.1m | €2.2m | €2.0m | €1.7m | €2.1m | ▲ 26.6% |
| Stocks and contracts in progress3 | €387,884 | €301,836 | €211,205 | €124,618 | €103,860 | ▼ 16.7% |
| Stocks30/36 | €387,884 | €301,836 | €211,205 | €124,618 | €103,860 | ▼ 16.7% |
| Amounts receivable within one year40/41 | €166,768 | €318,235 | €187,383 | €50,944 | €66,582 | ▲ 30.7% |
| Trade receivables40 | €141,084 | €290,624 | €174,845 | €39,314 | €66,301 | ▲ 68.6% |
| Other amounts receivable41 | €25,684 | €27,611 | €12,538 | €11,630 | €281 | ▼ 97.6% |
| Current investments50/53 | €1.0m | €1.0m | €1.4m | €1.1m | €1.3m | ▲ 19.8% |
| Cash at bank and in hand54/58 | €391,659 | €418,474 | €100,462 | €387,798 | €618,486 | ▲ 59.5% |
| Deferred charges and accrued income490/1 | €178,694 | €111,435 | €49,599 | €5,841 | €8,281 | ▲ 41.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.2m | €2.0m | €2.0m | €2.2m | ▲ 8.7% |
| Equity10/15 | €1.6m | €1.6m | €1.6m | €1.7m | €1.8m | ▲ 9.4% |
| Contributions10/11 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Reserves13 | €67,898 | €67,898 | €67,898 | €1.6m | €1.8m | ▲ 9.8% |
| Non-distributable reserves130/1 | €7,437 | €7,437 | €7,437 | €7,437 | €7,437 | = |
| Reserves not available under the articles1311 | €7,437 | €7,437 | €7,437 | €7,437 | €7,437 | = |
| Distributable reserves133 | €60,461 | €60,461 | €60,461 | €1.6m | €1.8m | ▲ 9.9% |
| Profit (loss) carried forward14 | €1.5m | €1.5m | €1.5m | - | - | - |
| Amounts payable17/49 | €527,847 | €538,366 | €317,376 | €292,897 | €307,332 | ▲ 4.9% |
| Amounts payable within one year42/48 | €525,727 | €538,366 | €317,376 | €269,937 | €287,593 | ▲ 6.5% |
| Trade debts44 | €243,221 | €279,114 | €38,634 | €9,063 | €10,863 | ▲ 19.9% |
| Suppliers440/4 | €243,221 | €279,114 | €38,634 | €9,063 | €10,863 | ▲ 19.9% |
| Taxes, remuneration and social security45 | €46,459 | €4,847 | €5,334 | €2,700 | €5,129 | ▲ 89.9% |
| Taxes450/3 | €3,281 | €4,231 | €4,402 | €1,479 | €4,732 | ▲ 220% |
| Remuneration and social security454/9 | €43,178 | €615 | €933 | €1,222 | €397 | ▼ 67.5% |
| Other amounts payable47/48 | €236,046 | €254,406 | €273,408 | €258,174 | €271,601 | ▲ 5.2% |
| Accrued charges and deferred income492/3 | €2,120 | - | - | €22,959 | €19,739 | ▼ 14.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €40,676 | €8,169 | €18,130 | €47,856 | €159,033 | ▲ 232% |
| + Depreciation and write-downs630 | €37,036 | €22,188 | €21,937 | €3,024 | €3,735 | ▲ 23.5% |
| Operating cash flow (approximation) | €77,712 | €30,357 | €40,067 | €50,879 | €162,768 | ▲ 220% |
| Investment in fixed assets (approximation) | - | -€819 | €0 | -€285,414 | €274,304 | ▲ 196% |
| Change in cash | - | €26,816 | -€318,012 | €287,336 | €230,687 | ▼ 19.7% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €159,033 ▲232%
Net result €159,033, the highest in the series.
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €8,169 ▼79.9%
Net result drops to €8,169, the lowest in the series; recovery starts the following year.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity quadruplescurrent ratio 10.32
Current ratio from 2.58 to 10.32; short-term debt falls from €971,390 to €172,469.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Dendermonde · 1 establishment unit since 1991
Ground area
1,337 m²
Building footprint
194 m²
Volume, LiDAR
984 m³
Parcel 42006C0346/00B004, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Kwintijnpoort (DEN) 84, 9200 Dendermonde
since 19912.051.412.319
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42006C0346/00B004 | Flanders | 1,337 m² | 1 · 194 m² | 8.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
3 ownersOwners 3
- WIM BERNAUWnatural personSourceown accounts 2025100%
- KOEN BERNAUWnatural personSourceown accounts 202550%
- STIJN BERNAUWnatural personSourceown accounts 202550%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of BERNAUW and those 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.
Recognitions · licences · registrations
Legal Entity Identifier
875500VJY9VNWMCBT789
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MULTI-G
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MEDISALE
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Of 1,903 companies in sector 46460 we hold annual accounts for 1,126. 716 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-01-1991
Fiscal year end31-12
Activities, NACEBEL 2025
46442Wholesale trade
46460Wholesale of pharmaceutical and medical goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442581108
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.