BEVATI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 19 filings
Turnover
≈ €65,000
Estimated: probably between €47,000 and €130,000
Total assets
€137,952▼ 18.1%
2024 · €168,355
Net result
-€188▲ 98.6%
2024 · -€13,720
Working capital
€109,919▲ 13.9%
2024 · €96,501
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€85
2025
20182025
Net result
-€188
▲ 98.6%
2025
middle half of the sector
20182025
Equity
€124,254
▼ 0.2%
2025
middle half of the sector
20182025
Total assets
€137,952
▼ 18.1%
2025
middle half of the sector
20182025
Debt
€13,698
▼ 68.8%
2025
20182025
Working capital
€109,919
▲ 13.9%
2025
highest quarter of the sector
20182025
Solvency
90.1%
▲ 16.2pp
2025
highest quarter of the sector
20182025
Current ratio
9.02
▲ 4.96
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.1%
▲ 8.0pp
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-€5,790-€84,754€5,192▼ 93.9%€33,044▲ 536%€102,194▲ 209%€38,434▼ 62.4%-€13,283€85
Net result-€6,291-€84,663€3,665within the sector's middle half▼ 95.7%€10,945within the sector's middle half▲ 199%€68,062above the sector's middle half▲ 522%€25,782within the sector's middle half▼ 62.1%-€13,720below the sector's middle half-€188within the sector's middle half▲ 98.6%
Equity-€54,954-€29,709€33,373within the sector's middle half▲ 12.3%€44,318within the sector's middle half▲ 32.8%€112,381within the sector's middle half▲ 154%€138,162within the sector's middle half▲ 22.9%€124,442within the sector's middle half▼ 9.9%€124,254within the sector's middle half▼ 0.2%
Total assets€51,086-€83,974▲ 64.4%€117,528within the sector's middle half▲ 40.0%€227,774within the sector's middle half▲ 93.8%€268,609within the sector's middle half▲ 17.9%€238,796within the sector's middle half▼ 11.1%€168,355within the sector's middle half▼ 29.5%€137,952within the sector's middle half▼ 18.1%
Debt€106,040-€44,266▼ 58.3%€74,155▲ 67.5%€183,455▲ 147%€156,228▼ 14.8%€100,634▼ 35.6%€43,913▼ 56.4%€13,698▼ 68.8%
Working capital-€55,555-€39,408€38,915within the sector's middle half▼ 1.3%€12,085within the sector's middle half▼ 68.9%€73,607above the sector's middle half▲ 509%€102,814above the sector's middle half▲ 39.7%€96,501above the sector's middle half▼ 6.1%€109,919above the sector's middle half▲ 13.9%
Solvency-107.6%-35.4%▲ 142.9pp28.4%within the sector's middle half▼ 7.0pp19.5%within the sector's middle half▼ 8.9pp41.8%within the sector's middle half▲ 22.4pp57.9%within the sector's middle half▲ 16.0pp73.9%above the sector's middle half▲ 16.1pp90.1%above the sector's middle half▲ 16.2pp
Current ratio0.48-1.89▲ 1.411.52within the sector's middle half▼ 0.371.12within the sector's middle half▼ 0.401.69within the sector's middle half▲ 0.572.43above the sector's middle half▲ 0.744.06above the sector's middle half▲ 1.639.02above the sector's middle half▲ 4.96
Return on assets (ROA)-12.3%-100.8%▲ 113.1pp3.1%within the sector's middle half▼ 97.7pp4.8%within the sector's middle half▲ 1.7pp25.3%above the sector's middle half▲ 20.5pp10.8%within the sector's middle half▼ 14.5pp-8.1%below the sector's middle half▼ 18.9pp-0.1%within the sector's middle half▲ 8.0pp
above
within
below
The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). 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 a profit of €85, after a loss of €13,283 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,952
Fixed assets
€14,335 ▼ 64.5%
Current assets
€123,617 ▼ 3.4%
Equity and liabilities €137,952
Equity
€124,254 ▼ 0.2%
Debt
€13,698 ▼ 68.8%
Debt's share of the balance-sheet total falls from 26.1% to 9.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€21,445▲
2024 · €10,526
Cash flow
€21,172▲
2024 · €10,090
Debt to equity
0.11▼
2024 · 0.35
ROE
-0.2%▲
2024 · -11.0%
Interest coverage
78.71▲
2024 · 24.10
Debt ≤ 1 year
€13,698▼
2024 · €31,502
Debt > 1 year
€0▼
2024 · €12,411
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | - | - | - | €81,000 | €81,000 |
| Carrying value of the other pledged assets | - | - | - | €27,651 | €11,451 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €119,048 | - | €156,800 | - | - |
| Depreciation and write-downs of the year | €8,163 | €23,810 | €23,810 | €23,810 | €21,360 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €52,738 | €78,200 | €12,411 | €3,542 | ▼ 71.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €300 | €300 | €322 | €8,163 | €23,810 | €23,810 | €23,810 | €21,360 | ▼ 10.3% |
| Other operating charges640/8 | - | - | - | €1,327 | €615 | €743 | €1,197 | €842 | ▼ 29.7% |
| Gross operating margin9900 | -€4,027 | €95,281 | €6,070 | €42,535 | €126,618 | €62,987 | €11,723 | €22,286 | ▲ 90.1% |
| Operating profit (loss)9901 | -€5,790 | €84,754 | €5,192 | €33,044 | €102,194 | €38,434 | -€13,283 | €85 | - |
| Financial income75/76B | - | - | - | €0 | €182 | €87 | €0 | - | - |
| Recurring financial income75 | €0 | €22 | €6 | €0 | €182 | €87 | €0 | - | - |
| Financial charges65/66B | - | - | - | €438 | €1,452 | €678 | €437 | €272 | ▼ 37.6% |
| Recurring financial charges65 | €501 | €112 | €133 | €438 | €1,452 | €678 | €437 | €272 | ▼ 37.6% |
| Profit (loss) for the period before taxes9903 | -€6,291 | €84,663 | €5,065 | €32,607 | €100,924 | €37,842 | -€13,720 | -€188 | ▲ 98.6% |
| Income taxes67/77 | - | - | €1,400 | €21,662 | €32,862 | €12,061 | €0 | - | - |
| Profit (loss) for the period9904 | -€6,291 | €84,663 | €3,665 | €10,945 | €68,062 | €25,782 | -€13,720 | -€188 | ▲ 98.6% |
| Profit (loss) for the period to be appropriated9905 | -€6,291 | €84,663 | €3,665 | €10,945 | €68,062 | €25,782 | -€13,720 | -€188 | ▲ 98.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €51,086 | €83,974 | €117,528 | €227,774 | €268,609 | €238,796 | €168,355 | €137,952 | ▼ 18.1% |
| Fixed assets21/28 | €601 | €300 | €4,458 | €115,343 | €87,972 | €64,162 | €40,352 | €14,335 | ▼ 64.5% |
| Tangible fixed assets22/27 | €601 | €300 | €4,458 | €115,343 | €87,972 | €64,162 | €40,352 | €14,335 | ▼ 64.5% |
| Plant, machinery and equipment23 | - | - | - | €76,251 | €60,051 | €43,851 | €27,651 | €11,451 | ▼ 58.6% |
| Furniture and vehicles24 | - | - | - | €39,092 | €27,921 | €20,311 | €12,702 | €2,884 | ▼ 77.3% |
| Current assets29/58 | €50,485 | €83,674 | €113,070 | €112,431 | €180,637 | €174,634 | €128,002 | €123,617 | ▼ 3.4% |
| Amounts receivable within one year40/41 | €36,926 | €30,666 | €104,854 | €86,195 | €157,024 | €114,835 | €113,508 | €112,184 | ▼ 1.2% |
| Trade receivables40 | - | - | - | €9,000 | €88,512 | €35,386 | €2,568 | €3,416 | ▲ 33.0% |
| Other amounts receivable41 | - | - | - | €77,195 | €68,513 | €79,449 | €110,940 | €108,768 | ▼ 2.0% |
| Cash at bank and in hand54/58 | €13,242 | €52,556 | €4,547 | €21,945 | €19,516 | €55,936 | €11,023 | €7,463 | ▼ 32.3% |
| Deferred charges and accrued income490/1 | - | - | - | €4,291 | €4,097 | €3,863 | €3,472 | €3,971 | ▲ 14.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €51,086 | €83,974 | €117,528 | €227,774 | €268,609 | €238,796 | €168,355 | €137,952 | ▼ 18.1% |
| Equity10/15 | -€54,954 | €29,709 | €33,373 | €44,318 | €112,381 | €138,162 | €124,442 | €124,254 | ▼ 0.2% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €12,945 | €81,007 | €106,789 | €106,789 | €104,789 | ▼ 1.9% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €10,945 | €81,007 | €106,789 | €106,789 | €104,789 | ▼ 1.9% |
| Profit (loss) carried forward14 | -€76,954 | €7,709 | €11,373 | €11,373 | €11,373 | €11,373 | -€2,347 | -€535 | ▲ 77.2% |
| Provisions and deferred taxes16 | - | €10,000 | €10,000 | - | - | - | - | - | - |
| Amounts payable17/49 | €106,040 | €44,266 | €74,155 | €183,455 | €156,228 | €100,634 | €43,913 | €13,698 | ▼ 68.8% |
| Amounts payable after more than one year17 | - | - | - | €83,110 | €49,198 | €28,814 | €12,411 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €83,110 | €49,198 | €28,814 | €12,411 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €106,040 | €44,266 | €74,155 | €100,346 | €107,030 | €71,820 | €31,502 | €13,698 | ▼ 56.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €28,786 | €29,891 | €20,384 | €16,403 | €12,411 | ▼ 24.3% |
| Trade debts44 | €45,162 | €1,373 | €47,794 | €49,192 | €45,534 | €29,575 | €15,098 | €1,287 | ▼ 91.5% |
| Suppliers440/4 | - | - | - | €49,192 | €45,534 | €29,575 | €15,098 | €1,287 | ▼ 91.5% |
| Taxes, remuneration and social security45 | - | - | - | €22,368 | €31,605 | €21,862 | €0 | - | - |
| Taxes450/3 | - | - | - | €22,368 | €31,605 | €21,862 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,291 | €84,663 | €3,665 | €10,945 | €68,062 | €25,782 | -€13,720 | -€188 | ▲ 98.6% |
| + Depreciation and write-downs630 | €300 | €300 | €322 | €8,163 | €23,810 | €23,810 | €23,810 | €21,360 | ▼ 10.3% |
| Operating cash flow (approximation) | -€5,990 | €84,963 | €3,987 | €19,108 | €91,872 | €49,591 | €10,090 | €21,172 | ▲ 110% |
| Investment in fixed assets (approximation) | - | €0 | -€4,480 | -€119,048 | €3,562 | €0 | €0 | €4,658 | - |
| Change in cash | - | €39,314 | -€48,009 | €17,398 | -€2,430 | €36,420 | -€44,913 | -€3,560 | ▲ 92.1% |
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, 12,322 companies had the same profile as BEVATI has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BEVATI itself: 0.5% 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 12,322 companies, not a prediction for BEVATI. 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 |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00352393 | |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00281017 | |
| 31-12-2023 | micro format | 19-07-2024 | 2024-00263395 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00151785 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20206539 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-62400464 | |
| 31-12-2019 | micro format | 04-09-2020 | 2020-51800139 | |
| 31-12-2018 | micro format | 31-08-2019 | 2019-63400199 | |
| 31-12-2017 | micro format | 29-08-2018 | 2018-54100564 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-54100582 |