BFConsult
ActiveSummary
The computed 12-month bankruptcy probability of BFConsult is 1.8% (moderate). The 2025 annual accounts show equity of €443,560 and a net result of €107,874. Equity has been growing by about 17% per year since 2020. Its solvency ranks better than 48% of 9,845 sector peers (NACE 46, financial year 2025). The company has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 28-01-2020 Normal situation
- Activity
- Wholesale trade NACE 46214and 5 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2025
- Establishment units
- 2.298.542.682 4020 Liège, since 28-01-2020
- 2.323.266.497 4000 Liège, since 01-09-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Board and ownership
- NDINVESTDirector · since 01-04-2025 · permanent representative Nicolas Dubart
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.8%
- Gross margin
- €567,643
- ▼ 24.6%
- Turnover
- ≈ €2.9m
- estimated
- Profit
- €107,874
- ▼ 63.8%
- Equity
- €443,560
- ▲ 32.1%
- Total assets
- €1.1m
- ▼ 9.4%
- Staff
- 8 FTE
- ▲ 15.9%
- 2025 accounts filed 61 days after the deadline
Score breakdownraises riskLast filed accounts filed 61 days late; 1 of the last 3 accounts lateFounded in 2020Liquidity: current ratio 1.49, cash €46,018, halvedlowers riskProfit of €107,874 (financial year 2025)Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 49% of them on solvency, 38% on liquidity, 74% on profitability and 82% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 3 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-09-2026 at the NBB all 6 filings
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result for 2025 is 58% lower than in 2024 and the lowest since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
- 2025 Net result -64% on 2024. The accounts now follow the abbreviated format, last year the micro format.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 5 | 6 | 8 | - |
| full-time | 4 | 4 | 4 | 7 | - |
| part-time | - | 1 | 2 | 1 | - |
| in full-time equivalents | 4 | 4.6 | 5.6 | 7.8 | 7.4 |
| Average over the year, in full-time equivalents | 3 | 4.1 | 5.6 | 6.9 | 8 |
| On a permanent contract | 2 | 4 | 6 | 8 | 7 |
| Joined | 3 | 3 | 14 | 5 | 5 |
| Left | 1 | 2 | 16 | 3 | 5 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | - | €367,000 |
| Mortgages, amount registered | - | €25,000 | €25,000 | €25,000 | €25,000 |
| Mortgage mandates | - | €275,000 | €312,500 | €342,000 | €342,000 |
| Carrying value of the mortgaged assets | - | €342,500 | €433,601 | €468,156 | €473,779 |
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 | €14,636 | €415,087 | €106,675 | €53,274 | €7,239 |
| Intangible fixed assets | - | €60,300 | - | - | - |
| Financial fixed assets | - | - | - | €1,273 | - |
| Depreciation and write-downs of the year | €7,346 | €63,398 | €30,260 | €22,845 | €19,151 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as BFConsult: wholesale trade (NACE 46214). They are comparable in size and age: total assets between €609,000 and €2.9m, founded between 2013 and 2020.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| BFConsult Liège | 2020 | €1.1m | €0.4m | €0.6m | €0.1m | 8 | 2025 |
| LES FERMES DE CHEZ NOUS La Bruyère | 2019 | €0.6m | €0.05m | €0.4m | -€0.02m | 8.1 | 2025 |
| BADOT AGRO Thuin | 2014 | €2.1m | €0.6m | €1.2m | €0.4m | 6 | 2025 |
| ALLNUTS Herk-de-Stad | 2013 | €2.0m | -€0.6m | €1.0m | -€0.03m | 17.4 | 2025 |
| DE PAEPE AGRO Lokeren | 2020 | €1.0m | €0.8m | €0.2m | €0.1m | - | 2025 |
| Vanoverschelde Fourages Zonnebeke | 2014 | €1.3m | €1.2m | €0.4m | €0.2m | - | 2025 |
| BRYE PLANTS Fleurus | 2018 | €2.9m | €0.2m | €0.2m | €0.005m | 1 | 2025 |
They were chosen from the 34 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 26,972 companies had the same profile as BFConsult has now. Two years later, 1.6% had gone bankrupt and 94.9% were still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BFConsult itself: 1.8% within 12 months.
Test of the method
The method was tested on the 497,445 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 26,972 companies, not a prediction for BFConsult. 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €119,766 | €170,229 | €261,372 | €361,627 | €392,872 | ▲ 8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,241 | €7,346 | €63,398 | €30,260 | €22,845 | €19,151 | ▼ 16.2% |
| Other operating charges640/8 | - | €1,530 | €1,284 | €4,434 | €1,621 | €2,253 | ▲ 39.0% |
| Gross operating margin9900 | €91,336 | €389,978 | €392,046 | €565,303 | €753,029 | €567,643 | ▼ 24.6% |
| Operating profit (loss)9901 | €40,487 | €261,336 | €157,135 | €269,236 | €366,935 | €153,367 | ▼ 58.2% |
| Financial income75/76B | - | €24 | €447 | €702 | €566 | - | - |
| Recurring financial income75 | €20 | €24 | €447 | €702 | €566 | - | - |
| Financial charges65/66B | - | €901 | €4,620 | €9,789 | €12,062 | €16,048 | ▲ 33.0% |
| Recurring financial charges65 | €229 | €901 | €4,620 | €9,789 | €12,062 | €16,048 | ▲ 33.0% |
| Profit (loss) for the period before taxes9903 | €40,278 | €260,459 | €152,962 | €260,150 | €355,439 | €137,319 | ▼ 61.4% |
| Income taxes67/77 | €9,727 | €73,664 | €38,621 | €57,151 | €57,816 | €29,445 | ▼ 49.1% |
| Profit (loss) for the period9904 | €30,551 | €186,795 | €114,341 | €202,998 | €297,623 | €107,874 | ▼ 63.8% |
| Profit (loss) for the period to be appropriated9905 | €30,551 | €186,795 | €114,341 | €202,998 | €297,623 | €107,874 | ▼ 63.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.2m | €0.4m | €0.7m | €1.0m | €1.2m | €1.1m | ▼ 9.4% |
| Formation expenses20 | €0.002m | €0.001m | €0.001m | €0.001m | €78 | - | - |
| Fixed assets21/28 | €0.02m | €0.02m | €0.4m | €0.5m | €0.5m | €0.5m | ▼ 2.2% |
| Intangible fixed assets21 | €0 | €0 | €0.06m | €0.05m | €0.04m | €0.02m | ▼ 33.3% |
| Tangible fixed assets22/27 | €0.02m | €0.02m | €0.4m | €0.5m | €0.5m | €0.5m | = |
| Land and buildings22 | - | - | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 0.9% |
| Plant, machinery and equipment23 | - | €0.005m | €0.004m | €0.003m | €0.002m | €0.001m | ▼ 64.0% |
| Furniture and vehicles24 | - | €0.009m | €0.002m | €0.005m | €0.005m | €0.003m | ▼ 36.4% |
| Other tangible fixed assets26 | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 5.4% |
| Financial fixed assets28 | - | - | - | - | €0.001m | €0.001m | = |
| Current assets29/58 | €0.2m | €0.4m | €0.3m | €0.5m | €0.7m | €0.6m | ▼ 15.4% |
| Stocks and contracts in progress3 | - | - | - | €0.001m | €0.001m | €0.008m | ▲ 427% |
| Stocks30/36 | - | - | - | €0.001m | €0.001m | €0.008m | ▲ 427% |
| Amounts receivable within one year40/41 | €0.2m | €0.04m | €0.1m | €0.2m | €0.4m | €0.5m | ▲ 12.4% |
| Trade receivables40 | - | €0.03m | €0.1m | €0.2m | €0.4m | €0.4m | ▲ 2.8% |
| Other amounts receivable41 | - | €0.01m | €0.02m | €0.05m | €0.05m | €0.1m | ▲ 83.9% |
| Cash at bank and in hand54/58 | €0.05m | €0.3m | €0.2m | €0.3m | €0.2m | €0.05m | ▼ 77.6% |
| Deferred charges and accrued income490/1 | - | €0.02m | €0.003m | €0.006m | €0.01m | €0.009m | ▼ 20.1% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.2m | €0.4m | €0.7m | €1.0m | €1.2m | €1.1m | ▼ 9.4% |
| Equity10/15 | €0.03m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 32.1% |
| Contributions10/11 | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Reserves13 | €0.03m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 32.5% |
| Distributable reserves133 | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 32.5% |
| Amounts payable17/49 | €0.2m | €0.2m | €0.4m | €0.7m | €0.9m | €0.6m | ▼ 25.5% |
| Amounts payable after more than one year17 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 4.7% |
| Financial debts170/4 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 4.7% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.1m | €0.4m | €0.6m | €0.4m | ▼ 35.6% |
| Current portion of amounts payable after more than one year42 | - | - | €0.02m | €0.02m | €0.03m | €0.03m | ▲ 16.7% |
| Financial debts43 | - | €0.02m | €87 | €0 | €0 | - | - |
| Credit institutions430/8 | - | €0.02m | €87 | €0 | €0 | - | - |
| Trade debts44 | €0.02m | €0.06m | €0.04m | €0.05m | €0.1m | €0.09m | ▼ 24.9% |
| Suppliers440/4 | - | €0.06m | €0.04m | €0.05m | €0.1m | €0.09m | ▼ 24.9% |
| Advances received on contracts in progress46 | - | €0.04m | €0.02m | €0.06m | €0.03m | - | - |
| Taxes, remuneration and social security45 | - | €0.03m | €0.05m | €0.05m | €0.08m | €0.09m | ▲ 6.6% |
| Taxes450/3 | - | €0.01m | €0.02m | €0.008m | €301 | €0.01m | ▲ 33× |
| Remuneration and social security454/9 | - | €0.02m | €0.04m | €0.04m | €0.08m | €0.08m | ▼ 5.2% |
| Other amounts payable47/48 | - | €267 | - | €0.2m | €0.3m | €0.2m | ▼ 47.3% |
| Accrued charges and deferred income492/3 | - | €40 | €0.001m | €0.001m | €0.001m | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,551 | €186,795 | €114,341 | €202,998 | €297,623 | €107,874 | ▼ 63.8% |
| + Depreciation and write-downs630 | €6,241 | €7,346 | €63,398 | €30,260 | €22,845 | €19,151 | ▼ 16.2% |
| Operating cash flow (approximation) | €36,791 | €194,141 | €177,739 | €233,258 | €320,468 | €127,025 | ▼ 60.4% |
| Investment in fixed assets (approximation) | - | -€15,105 | -€475,855 | -€107,144 | -€55,015 | -€7,317 | ▲ 86.7% |
| Change in cash | - | €234,411 | -€105,198 | €85,731 | -€60,188 | -€159,029 | ▼ 164% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-09-2026 | 2026-00544672 | NBB |
| 31-12-2024 | micro format | 16-07-2025 | 2025-00281643 | |
| 31-12-2023 | micro format | 16-07-2024 | 2024-00251278 | |
| 31-12-2022 | micro format | 11-07-2023 | 2023-00224133 | |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20190917 | |
| 31-12-2020 | micro format | 19-07-2021 | 2021-37400068 |
Board & ownership
Directors
Board 1
Permanent representatives 1
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| NDINVEST |
|
| Nicolas Dubart |
|
Network & group
Companies at the same address
4 other companies- Franssens, Igor (sole trader) Establishment · since 2026 0784984178
- Ben-Mokhtar, Sahra (sole trader) Establishment · since 2019 0726490804
- Van Hoye, Manon (sole trader) Establishment · since 2018 0700481540
- Association des Copropriétaires de l'immeuble à Liège Place des Nations Unies 12 Registered office · since 1995 0819965546
Connections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
16-06
Gazette deed
Resignation: Nicolas Dubart (director)Appointment: NDINVEST (director) · Permanent representative: Nicolas Dubart · Director discharge5 points ▸
- General meeting, 07-04-2025
- Director resignation, Nicolas Dubart (director)
- Director discharge, Nicolas Dubart (director)
- Director appointment, NDINVEST (director)
- Permanent representative, Nicolas Dubart (representative)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62814C0453/00C000 | Wallonia | 6,881 m² | - | - |
| 62806C0654/00X007 | Wallonia | 149 m² | 1 · 138 m² | 18.4 m · 6 |