Summary
BFIVE is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €5.0m and a net result of €216,377. Equity is growing by about 4.7% per year across the filed financial years. Its solvency ranks better than 61% of 3,016 sector peers (NACE 64, financial year 2025). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Activities of holding companies
NACE 64210
10th largest company by total assets in Wavre, Finance and insurance sector1 site
Size
€615,684turnover 2025
- Equity
- €5.0m
- Profit
- €216,377
Financial health
Financial institution: outside the modelBankruptcy probability: sector outside the model
Signalsraises risk2025 accounts filed 10 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Bankruptcy probability, 12 months
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
1 signal.
raises risk
raises risk · 2025 accounts filed 10 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 4 filingsDeviation from the deadline
2025
10 days late
2024
24 days early
2023
16 days late
2022
1 day late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 1 day after the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 6 August (4 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
28-10-2026 today31-12-2026 year end31-07-2027 deadline
- Appointment: Claudia Beauthier (director)Gazette deed
- Annual accounts filedfinancial year 2025 · full…
- Amendment of the articles · MiscellaneousPower of attorney
Financials · financial year 2025, full format
In the rankings
#10 company by total assets in Wavre, Finance and insurance sector#10 company by equity in Wavre, Finance and insurance sector
2025 annual accounts filed late (10 days) Filed on 10 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00390055.
Equity
€5.0m▲ 1.1%
2024 · €4.9m
Net result
€216,377▼ 58.9%
2024 · €526,690
Total assets
€6.8m▲ 12.6%
2024 · €6.1m
Solvency
72.6%▼ 8.2pp
2024 · 80.8%
Trend over the years
2022 to 2025, 4 financial years
The operating result falls in 2025; 2025 is 48% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.6m
2025
Operating result€0.3m
2025
Net result€0.2m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€6.8m
2025
Equity€5.0m
2025
Debt€1.9m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€1.1m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)3.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency72.6%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.22
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Turnover€0.06m-€0.3m▲ 400%€0.5m▲ 65.7%€0.6m▲ 23.9%
Operating result€0.05m-€0.3m▲ 519%€0.5m▲ 66.2%€0.3m▼ 47.7%
Net result€0.02mwithin the sector's middle half-€0.2mwithin the sector's middle half▲ 12×€0.5mwithin the sector's middle half▲ 163%€0.2mwithin the sector's middle half▼ 58.9%
Equity€4.4mwithin the sector's middle half-€4.5mwithin the sector's middle half▲ 3.2%€4.9mwithin the sector's middle half▲ 9.0%€5.0mwithin the sector's middle half▲ 1.1%
Total assets€5.8mwithin the sector's middle half-€5.9mwithin the sector's middle half▲ 1.7%€6.1mwithin the sector's middle half▲ 3.5%€6.8mwithin the sector's middle half▲ 12.6%
Debt€1.4m-€1.4m▼ 3.0%€1.2m▼ 14.6%€1.9m▲ 60.9%
Working capital€0.2mwithin the sector's middle half-€0.1mwithin the sector's middle half▼ 46.2%€0.3mwithin the sector's middle half▲ 178%-€1.1mbelow the sector's middle half
Solvency75.6%within the sector's middle half-76.8%within the sector's middle half▲ 1.1pp80.8%within the sector's middle half▲ 4.1pp72.6%within the sector's middle half▼ 8.2pp
Current ratio1.97within the sector's middle half-1.27within the sector's middle half▼ 0.701.68within the sector's middle half▲ 0.410.22below the sector's middle half▼ 1.46
Return on assets (ROA)0.3%within the sector's middle half-3.4%within the sector's middle half▲ 3.1pp8.7%within the sector's middle half▲ 5.3pp3.2%within the sector's middle half▼ 5.5pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.8m
Fixed assets
€6.5m ▲ 21.3%
Current assets
€297,135 ▼ 56.4%
Equity and liabilities €6.8m
Equity
€5.0m ▲ 1.1%
Debt
€1.9m ▲ 60.9%
Debt's share of the balance-sheet total rises from 19.2% to 27.4%. Equity and debt are higher.
Key figures and ratios
ROE
4.4%▼
2024 · 10.7%
Debt ≤ 1 year
€1.4m▲
2024 · €405,600
Debt > 1 year
€524,893▼
2024 · €759,644
Income taxes
€179,973▲
2024 · €100,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | €497,000 | €618,447 | ▲ 24.4% |
| Turnover70 | €60,000 | €300,000 | €497,000 | €615,684 | ▲ 23.9% |
| Other operating income74 | - | - | - | €2,763 | - |
| Operating charges60/66A | - | - | €4,133 | €360,616 | ▲ 87× |
| Goods, raw materials, services and sundry goods60/61 | - | €2,920 | - | - | - |
| Services and other goods61 | - | - | €3,084 | €276,629 | ▲ 90× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,857 | - | - | €71,372 | - |
| Other operating charges640/8 | €348 | €464 | €1,049 | €12,616 | ▲ 12× |
| Gross operating margin9900 | €57,118 | €297,080 | - | - | - |
| Operating profit (loss)9901 | €47,914 | €296,616 | €492,867 | €257,830 | ▼ 47.7% |
| Financial income75/76B | - | - | €160,000 | €160,000 | = |
| Recurring financial income75 | - | - | €160,000 | €160,000 | = |
| Income from financial fixed assets750 | - | - | €160,000 | €160,000 | = |
| Financial charges65/66B | €24,956 | €29,043 | €26,177 | €21,480 | ▼ 17.9% |
| Recurring financial charges65 | €24,956 | €29,043 | €26,177 | €21,480 | ▼ 17.9% |
| Debt charges650 | - | - | €25,903 | €20,827 | ▼ 19.6% |
| Other financial charges652/9 | - | - | €274 | €654 | ▲ 139% |
| Profit (loss) for the period before taxes9903 | €22,958 | €267,573 | €626,690 | €396,350 | ▼ 36.8% |
| Income taxes67/77 | €5,740 | €67,281 | €100,000 | €179,973 | ▲ 80.0% |
| Taxes670/3 | - | - | €105,000 | €179,973 | ▲ 71.4% |
| Tax adjustments and reversals of tax provisions77 | - | - | €5,000 | - | - |
| Profit (loss) for the period9904 | €17,219 | €200,292 | €526,690 | €216,377 | ▼ 58.9% |
| Profit (loss) for the period to be appropriated9905 | €17,219 | €200,292 | €526,690 | €216,377 | ▼ 58.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €5.8m | €5.9m | €6.1m | €6.8m | ▲ 12.6% |
| Fixed assets21/28 | €5.4m | €5.4m | €5.4m | €6.5m | ▲ 21.3% |
| Intangible fixed assets21 | - | - | - | €0.9m | - |
| Tangible fixed assets22/27 | - | - | - | €2.0m | - |
| Land and buildings22 | - | - | - | €2.0m | - |
| Furniture and vehicles24 | - | - | - | €0.002m | - |
| Financial fixed assets28 | €5.4m | €5.4m | €5.4m | €3.6m | ▼ 33.3% |
| Affiliated companies280/1 | - | - | €5.4m | €3.6m | ▼ 33.3% |
| Participating interests280 | - | - | €5.4m | €3.6m | ▼ 33.3% |
| Other financial fixed assets284/8 | - | - | - | €363 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €363 | - |
| Current assets29/58 | €0.4m | €0.5m | €0.7m | €0.3m | ▼ 56.4% |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.7m | €0.3m | ▼ 57.6% |
| Trade receivables40 | €0.06m | €0.3m | €0.2m | €0.3m | ▲ 25.3% |
| Other amounts receivable41 | €0.3m | €0.2m | €0.5m | €0.04m | ▼ 92.5% |
| Cash at bank and in hand54/58 | €0.001m | €0.001m | €0.006m | €0.002m | ▼ 68.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €5.8m | €5.9m | €6.1m | €6.8m | ▲ 12.6% |
| Equity10/15 | €4.4m | €4.5m | €4.9m | €5.0m | ▲ 1.1% |
| Contributions10/11 | €4.3m | €4.3m | €4.3m | €4.3m | = |
| Capital10 | €4.3m | €4.3m | €4.3m | €4.3m | = |
| Issued capital100 | €4.3m | €4.3m | €4.3m | €4.3m | = |
| Reserves13 | €0.02m | €0.2m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | €0.02m | €0.2m | €0.4m | €0.4m | = |
| Legal reserve130 | €0.02m | €0.2m | €0.4m | €0.4m | = |
| Profit (loss) carried forward14 | - | - | €0.1m | €0.2m | ▲ 43.5% |
| Amounts payable17/49 | €1.4m | €1.4m | €1.2m | €1.9m | ▲ 60.9% |
| Amounts payable after more than one year17 | €1.2m | €1.0m | €0.8m | €0.5m | ▼ 30.9% |
| Financial debts170/4 | €1.2m | €1.0m | €0.8m | €0.5m | ▼ 30.9% |
| Credit institutions173 | - | - | €0.8m | €0.5m | ▼ 30.9% |
| Amounts payable within one year42/48 | €0.2m | €0.4m | €0.4m | €1.4m | ▲ 233% |
| Current portion of amounts payable after more than one year42 | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 0.8% |
| Trade debts44 | €0.001m | - | €0.003m | €0.3m | ▲ 84× |
| Suppliers440/4 | €0.001m | - | €0.003m | €0.3m | ▲ 84× |
| Taxes, remuneration and social security45 | €0.006m | €0.007m | €0.02m | €0.2m | ▲ 921% |
| Taxes450/3 | €0.006m | €0.007m | €0.02m | €0.2m | ▲ 894% |
| Remuneration and social security454/9 | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | €0.1m | €0.1m | €0.7m | ▲ 457% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | €0.2m | €0.5m | €0.2m | ▼ 58.9% |
| + Depreciation and write-downs630 | €0.009m | - | - | €0.07m | - |
| Operating cash flow (approximation) | €0.03m | €0.2m | €0.5m | €0.3m | ▼ 45.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1.2m | - |
| Change in cash | - | €103 | €0.005m | -€0.004m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 10-08-2026 | 2026-00390055 |
| 31-12-2024 | full format | 07-07-2025 | 2025-00235934 |
| 31-12-2023 | full format | 16-08-2024 | 2024-00347040 |
| 31-12-2022 | full format | 01-08-2023 | 2023-00300589 |
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Of the 24,457 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,067. 8,182 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 director, last change in 2026
Claudia Beauthier
CurrentDirector · since 01-10-2026
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
1 of this company's 5 Belgian Official Gazette deeds has not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Claudia Beauthier |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Holdings and subsidiaries
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
Stated earlier (1)
Merged into this company on 18-02-2026.
-
100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
1 current directorThe board mandates are listed below; here you explore them as a network.
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Board mandates elsewhere
1 board mandateBoard mandates of this companythis company sits on their board1
7 locations
Acquisitions and mergers
1 transactionTook over:PAPYO
History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
07-10
Gazette deed
Appointment: Claudia Beauthier (director)2 facts ▸
Gazette deed
Appointment: Claudia Beauthier (director)
2 facts ▸
- General meeting, 25-09-2026
- Director appointment, Claudia Beauthier (director)
10-08
NBB filing
Annual accounts filed
financial year 2025 · full format · 10 days late
10-07
Gazette deed
Amendment of the articles · MiscellaneousPower of attorney2 facts ▸
Gazette deed
Amendment of the articles · Miscellaneous
Power of attorney2 facts ▸
- Power of attorney
- Power of attorney, Antoine DECLAIRFAYT
28-01
Gazette deed
Capital & shares · Resignations & appointments · RestructuringPermanent representative: PhilippeBEAUTHIER · Merger · Shareholding12 facts ▸
Gazette deed
Capital & shares · Resignations & appointments · Restructuring
Permanent representative: PhilippeBEAUTHIER · Merger · Shareholding12 facts ▸
- General meeting, 19-12-2025
- Merger, “intégralité du patrimoine actif et passif,tant les droits que les obligations, pleins” (deed in French)
- Other provision, “absence d'émission d'actions nouvelles, société absorbante est l'unique actionnaire de la société absorbée” (deed in French)
- Shareholding
- Other provision, “soins et sous la responsabilité, administrateur de la société absorbante” (deed in French)
- Accounting effect, 01-09-2025
- Other provision, “état résumant la situation active et passive arrêtée au 2025-08-31, conditions et charges du transfert de patrimoine” (deed in French)
- Real estate, “droitsimmobiliersfaisantpartiedutransfert” (deed in French)
- Permanent representative, PhilippeBEAUTHIER (représentantpermanent)
- Director in office, PhilippeBEAUTHIER (director)
- Director in office, Benoit (director)
- Power of attorney
2025
31-10
Gazette deed
RestructuringMerger · Shareholding · Incorporation9 facts ▸
Gazette deed
Restructuring
Merger · Shareholding · Incorporation9 facts ▸
- Merger, “fusion par absorption, intégralité du patrimoine, activement et passivement” (deed in French)
- Shareholding, “titres de la SA PAPYO” (deed in French)
- Incorporation, 10-02-2022
- Registered office clause, “1300 WAVRE, Avenue Vesale”, 2 (deed in French)
- Incorporation, 07-07-2000
- Registered office clause, “1060 SAINT-GILLES, Chaussée de Waterloo”, 334 (deed in French)
- Accounting effect, 01-09-2025
- Other provision, “droits spéciaux aux associés ou actionnaires et aux titulaires de titres autres que parts ou actions” (deed in French)
- Other provision, “avantage particulier aux membres des organes d'administration des sociétés appelées à fusionner” (deed in French)
07-07
NBB filing
Annual accounts filed
financial year 2024 · full format
2024
31-12
Financial
Highest result from 2022 to 2025net €526,690 ▲163%
Operating result €492,867, net result €526,690, both a record.
16-08
NBB filing
Annual accounts filed
financial year 2023 · full format · 16 days late
2023
01-08
NBB filing
Annual accounts filed
financial year 2022 · full format · 1 day late
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
4 of 5 deeds read
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 4 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPublic limited company
Founded10-02-2022
Financial year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
Contact
E-mail
philippe.beauthier@cipac.be
Phone
+32475581748
E-invoicing
Reachable via Peppol
Peppol ID
0208:0781835737
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Wavre · 1 establishment unit since 2022
Ground area
5,123 m²
Building footprint
2,571 m²
Building volume
14,500 m³
Parcel 25112B0120/00A000, Wallonia · tallest building 8.4 m. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
BFIVE
since 2022unit no. 2.327.700.387
1 parcel
Wallonia
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25112B0120/00A000 | Wallonia | 5,123 m² | 1 · 2,571 m² | 8.4 m · 2 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “La prise de participation dans toute société commerciale ou autres, belges ou étrangères, ainsi que l'accomplissement de tous actes de…” (deed in French)
9 activities (deed in French)
- La prise de participation dans toute société commerciale ou autres, belges ou étrangères, ainsi que l'accomplissement de tous actes de gestion de portefeuille ou de capitaux et l'émission de tous types d'effets mobiliers ou immobiliers, à l'exception des activités réglementées par la loi;
- La prestation de service de conseil en organisation et gestion d'entreprises;
- La gestion d'un patrimoine de valeurs mobilières et immobilières, incluant notamment mais non exclusivement: des actions et parts belges ou étrangères, cotées ou non, à titre provisoire ou permanent, des obligations, bons de caisses, warrants, options et titres analogues, des terrains et constructions, en général toute valeur mobilière et immobilière.
- Elle peut également consentir tous prêts ou garantir tous prêts consentis par des tiers, étant entendu que la société n'effectuera aucune activité dont l'exercice serait soumis à des dispositions légales ou réglementaires applicables aux établissements de crédits et/ou financiers.
- Elle dispose, d'une manière générale, d'une pleine capacité juridique pour accomplir tous les actes et opérations, commerciales, industrielles, financières, mobilières ou immobilières, ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à faciliter directement ou indirectement, entièrement ou partiellement, la réalisation de cet objet.
- Elle peut s'intéresser par voie d'association, d'apport, de fusion, d'intervention financière ou autrement dans toutes sociétés, associations, affaires ou entreprises dont l'objet est identique, analogue, similaire ou connexe au sien ou susceptible de favoriser le développement de son entreprise ou de contribuer à l'écoulement de ses produits et services.
- Elle peut exercer les fonctions d'administrateur ou liquidateur dans d'autres sociétés.
- La société peut se porter garant ou fournir des sûretés réelles pour des sociétés ou des personnes privées, au sens le plus large.
- Au cas où la prestation de certains actes serait soumise à des conditions préalables d'accès à la profession, la société subordonnera son action, en ce qui concerne la prestation de ces actes, à la réalisation de ces conditions
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last day of June at 19:00