Checked.be
Active
BE 0764.610.418Private limited company
BGEMM
Verhulststraat 66 ·1180 Ukkel, Belgium· 5 yrs active
Sector: Real estate appraisal on a fee or contract basis
(68322)
Conclusion
BGEMM has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57k and a net result of €10k. Equity is growing by ~95.8% per year across the filed fiscal years. Its solvency ranks better than 84% of 13549 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €57k |
| Net result | €10k |
| Better than sector | 84% |
| Active | 5 yrs |
Financial profile
88
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
96
Solvency
100
Growth
52
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
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
100
/ 100
Excellent
Computed from 6 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
€3k
estimate, not credit advice
Score history
89
2022
100
2023
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 4.53 (≥ 1.5)
+10
Quick ratio
Quick ratio 4.53 (≥ 1.0)
+5
Leverage
Debt/equity 0.28 (< 1.0)
+10
Profitability
ROE 18% (≥ 10%)
+10
EBITDA margin
EBITDA-marge 60% (≥ 10%)
+8
Interest coverage
Interest coverage 177.2× (≥ 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 08-06-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~95.8%/year over 3 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 68, Real estate activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 78.2% | 29.9% | |
| Net result | €10k | €6k | |
| Equity | €57k | €79k | |
| Gross operating margin | €16k | €41k | |
| Total assets | €73k | €416k |
€27k
+6.6%
22-25
€16k
-3.2%
22-25
€10k
-7.5%
22-25
€12k
-5.3%
22-25
€73k
+75.7%
22-25
€57k
+224.7%
22-25
€56k
+295.7%
22-25
€4k
+2.3%
22-25
€16k
-33.7%
22-25
€16k
-33.7%
22-25
4.53
+184.8%
22-25
4.53
+184.8%
22-25
78.2%
+84.9%
22-25
0.28
-79.6%
22-25
17.8%
-71.5%
22-25
13.9%
-47.3%
22-25
38.4%
-13.2%
22-25
59.9%
-9.2%
22-25
177.18
-37.6%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2023 | 2022 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | €27k | €25k | €36k |
| EBITDA | €16k | €16k | €6k |
| Net profit | €10k | €11k | €4k |
| Cash flow | €12k | €12k | €4k |
| Staff costs | - | - | - |
| Income taxes | €4k | €4k | €2k |
| Dividends | - | - | - |
| Total assets | €73k | €42k | €20k |
| Equity | €57k | €18k | €7k |
| Debt | €16k | €24k | €13k |
| of which ≤ 1y | €16k | €24k | €13k |
| of which > 1y | - | - | - |
| Working capital | €56k | €14k | €3k |
| Employees (FTE) | - | - | - |
Ratios (computed)
| 2025 | 2023 | 2022 | |
|---|---|---|---|
| Current ratio | 4.53 | 1.59 | 1.25 |
| Quick ratio | 4.53 | 1.59 | 1.25 |
| Working capital ratio | 76.9% | 34.1% | 16.3% |
| Solvency | 78.2% | 42.3% | 33.6% |
| Debt / equity | 0.28 | 1.36 | 1.98 |
| Long-term debt ratio | - | - | - |
| Interest coverage | 177.18 | 284.06 | 51.52 |
| Gross margin | 54.6% | 59.6% | 15.8% |
| Net margin | 38.4% | 44.2% | 9.9% |
| ROA | 13.9% | 26.5% | 18.3% |
| ROE | 17.8% | 62.5% | 54.6% |
| EBITDA margin | 59.9% | 66.0% | 16.4% |
| Days sales outstanding | 633d | 191d | 114d |
| Days payable outstanding | 29d | 21d | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2023 | 2022 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €73k | €42k | €20k |
| Fixed assets | 21/28 | €995 | €3k | €3k |
| Tangible fixed assets | 22/27 | €995 | €3k | €3k |
| Current assets | 29/58 | €72k | €38k | €16k |
| Amounts receivable within one year | 40/41 | €48k | €13k | €11k |
| Cash & bank | 54/58 | €25k | €25k | €5k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €73k | €42k | €20k |
| Equity | 10/15 | €57k | €18k | €7k |
| Contributions / capital | 10/11 | €3k | €3k | €3k |
| Reserves | 13 | €35k | €5k | - |
| Accumulated profits (losses) | 14 | €19k | €10k | €4k |
| Amounts payable | 17/49 | €16k | €24k | €13k |
| Amounts payable within one year | 42/48 | €16k | €24k | €13k |
| Trade debts payable within one year | 44 | €960 | €569 | - |
| Income statement | ||||
| Turnover | 70 | €27k | €25k | €36k |
| Gross operating margin | 9900 | €16k | €16k | €6k |
| Operating result | 9901 | €14k | €15k | €5k |
| Financial charges | 65 | €90 | €58 | €116 |
| Result before taxes | 9903 | €14k | €15k | €5k |
| Income taxes | 67/77 | €4k | €4k | €2k |
| Net result for the period | 9904 | €10k | €11k | €4k |
| Result to be appropriated | 9905 | €10k | €11k | €4k |
Legal Structure
| NACE primary | Real estate appraisal on a fee or contract basis(68322) |
| Legal form | Private limited company(610) |
| Incorporation | 03-03-2021 |
| Status | Active |
| Postal code | 1180 |
Establishment units
BGEMM
since 20212.318.204.879
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21016B0040/00H013 | Brussels | 220 m² | 1 · 88 m² | 12.0 m · 3 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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity triplescurrent ratio 4.53
Current ratio from 1.59 to 4.53; short-term debt falls from €24k to €16k.
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2022net €11k ▲206%
Operating result €15k, net result €11k, both a record.
06-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 128 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 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Real estate appraisal on a fee or contract basis68322Buying and selling of own real estate68110Renting and operating of own or leased residential real estate, excluding social housing68201Real estate activities68202Renting and operating of own or leased non-residential real estate, excluding land68203Real estate activities68204Other business support services82990
Names & trade names
| Legal nameFR | BGEMM |
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