BGKM
ActiveSummary
The computed 12-month bankruptcy probability of BGKM is 3.2% (moderate). The 2025 annual accounts show negative equity (-€166,400) and a net result of €146,392. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 18606 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency0=
Growth58=
Track record94
Bankruptcy probability, 12 months
3.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.58 against 0.33 in 2024; short-term debt: 92.8% and cash: 5.5% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-38.2%
Return on assets
33.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 18606 sector peers (2025).
NBB · sector comparisonPosition among 18606 sector peers
Solvency
better than 14%
← weakest
strongest →
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 19-07-2026, 12 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
12 d early
2024
1 d early
2023
1 d early
2022
3 d early
← 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 4 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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. Usually files around 29 July (4 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€166,400▲ 46.8%
2024 · -€312,792
Total assets
€436,113▲ 15.8%
2024 · €376,691
Net result
€146,392
2024 · -€89,311
Working capital
-€169,295▲ 40.3%
2024 · -€283,627
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail 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
Line2022202320242025
Operating result-€141,038--€176,962▼ 25.5%-€96,449▲ 45.5%€127,218
Net result-€146,099below the sector's middle half--€177,382below the sector's middle half▼ 21.4%-€89,311below the sector's middle half▲ 49.7%€146,392above the sector's middle half
Equity-€46,099below the sector's middle half--€223,481below the sector's middle half▼ 385%-€312,792below the sector's middle half▼ 40.0%-€166,400below the sector's middle half▲ 46.8%
Total assets€460,078above the sector's middle half-€468,128above the sector's middle half▲ 1.7%€376,691above the sector's middle half▼ 19.5%€436,113above the sector's middle half▲ 15.8%
Debt€506,176-€691,609▲ 36.6%€689,483▼ 0.3%€602,513▼ 12.6%
Working capital€10,335within the sector's middle half--€189,424below the sector's middle half-€283,627below the sector's middle half▼ 49.7%-€169,295below the sector's middle half▲ 40.3%
Solvency-10.0%below the sector's middle half--47.7%below the sector's middle half▼ 37.7pp-83.0%below the sector's middle half▼ 35.3pp-38.2%below the sector's middle half▲ 44.9pp
Current ratio1.10within the sector's middle half-0.49below the sector's middle half▼ 0.610.33below the sector's middle half▼ 0.150.58below the sector's middle half▲ 0.25
Return on assets (ROA)-31.8%below the sector's middle half--37.9%below the sector's middle half▼ 6.1pp-23.7%below the sector's middle half▲ 14.2pp33.6%above the sector's middle half▲ 57.3pp
Staff (FTE)0.7-1▲ 42.9%1=1=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €127,218 after a loss of €96,449 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €436,113
Fixed assets
€200,778 ▼ 14.7%
Current assets
€235,334 ▲ 66.6%
Key figures and ratios
EBITDA
€165,670▲
2024 · -€52,751
Cash flow
€184,844▲
2024 · -€45,613
Quick ratio
0.43▲
2024 · 0.14
Debt to equity
-3.62▼
2024 · -2.20
Interest coverage
19.04▲
2024 · -5.96
Debt ≤ 1 year
€404,630▼
2024 · €424,913
Debt > 1 year
€188,658▼
2024 · €255,122
Income taxes
€262▼
2024 · €327
Staff costs
€52,718▲
2024 · €50,348
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,021 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 89% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a profit of 5% of the balance sheet or more
5.8%
went bankrupt
4.0%
stopped otherwise
89%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.2% 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 1,021 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €9,426 | - | - |
| Remuneration, social security and pensions62 | €26,110 | €42,244 | €50,348 | €52,718 | ▲ 4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,967 | €55,258 | €43,698 | €38,452 | ▼ 12.0% |
| Other operating charges640/8 | €2,634 | €5,225 | €2,434 | €1,632 | ▼ 33.0% |
| Gross operating margin9900 | -€89,328 | -€74,235 | €30 | €220,019 | ▲ 723,648% |
| Operating profit (loss)9901 | -€141,038 | -€176,962 | -€96,449 | €127,218 | ▲ 232% |
| Financial income75/76B | €3 | €8,849 | €16,310 | €28,137 | ▲ 72.5% |
| Recurring financial income75 | €3 | €8,849 | €16,310 | €28,137 | ▲ 72.5% |
| Financial charges65/66B | €4,845 | €8,882 | €8,845 | €8,701 | ▼ 1.6% |
| Recurring financial charges65 | €4,845 | €8,882 | €8,845 | €8,701 | ▼ 1.6% |
| Profit (loss) for the period before taxes9903 | -€145,880 | -€176,995 | -€88,984 | €146,654 | ▲ 265% |
| Income taxes67/77 | €218 | €388 | €327 | €262 | ▼ 19.7% |
| Profit (loss) for the period9904 | -€146,099 | -€177,382 | -€89,311 | €146,392 | ▲ 264% |
| Profit (loss) for the period to be appropriated9905 | -€146,099 | -€177,382 | -€89,311 | €146,392 | ▲ 264% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €460,078 | €468,128 | €376,691 | €436,113 | ▲ 15.8% |
| Fixed assets21/28 | €343,566 | €288,308 | €235,405 | €200,778 | ▼ 14.7% |
| Intangible fixed assets21 | €21,954 | €18,667 | €15,381 | €12,096 | ▼ 21.4% |
| Tangible fixed assets22/27 | €321,534 | €269,563 | €219,946 | €188,605 | ▼ 14.2% |
| Furniture and vehicles24 | €57,534 | €36,304 | €15,799 | €14,800 | ▼ 6.3% |
| Other tangible fixed assets26 | €264,000 | €233,259 | €204,147 | €173,805 | ▼ 14.9% |
| Financial fixed assets28 | €78 | €78 | €78 | €78 | = |
| Current assets29/58 | €116,512 | €179,820 | €141,286 | €235,334 | ▲ 66.6% |
| Stocks and contracts in progress3 | €49,828 | €106,328 | €80,525 | €60,581 | ▼ 24.8% |
| Stocks30/36 | €49,828 | €106,328 | €80,525 | €60,581 | ▼ 24.8% |
| Amounts receivable within one year40/41 | €12,607 | €23,076 | €30,795 | €138,382 | ▲ 349% |
| Trade receivables40 | €12,607 | €22,931 | €28,533 | €138,190 | ▲ 384% |
| Other amounts receivable41 | - | €145 | €2,261 | €192 | ▼ 91.5% |
| Cash at bank and in hand54/58 | €47,376 | €14,382 | €24,664 | €23,912 | ▼ 3.1% |
| Deferred charges and accrued income490/1 | €6,701 | €36,034 | €5,301 | €12,459 | ▲ 135% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €460,078 | €468,128 | €376,691 | €436,113 | ▲ 15.8% |
| Equity10/15 | -€46,099 | -€223,481 | -€312,792 | -€166,400 | ▲ 46.8% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€146,099 | -€323,481 | -€412,792 | -€266,400 | ▲ 35.5% |
| Amounts payable17/49 | €506,176 | €691,609 | €689,483 | €602,513 | ▼ 12.6% |
| Amounts payable after more than one year17 | €400,000 | €321,027 | €255,122 | €188,658 | ▼ 26.1% |
| Financial debts170/4 | €400,000 | €321,027 | €255,122 | €188,658 | ▼ 26.1% |
| Amounts payable within one year42/48 | €106,176 | €369,244 | €424,913 | €404,630 | ▼ 4.8% |
| Current portion of amounts payable after more than one year42 | €1,535 | €73,689 | €65,905 | €66,464 | ▲ 0.8% |
| Trade debts44 | €16,177 | €44,006 | €18,926 | €19,771 | ▲ 4.5% |
| Suppliers440/4 | €16,177 | €44,006 | €18,926 | €19,771 | ▲ 4.5% |
| Advances received on contracts in progress46 | €56,466 | €218,873 | €279,368 | €266,364 | ▼ 4.7% |
| Taxes, remuneration and social security45 | €1,144 | €2,687 | €14,020 | €13,975 | ▼ 0.3% |
| Taxes450/3 | €978 | €388 | €6,549 | €6,587 | ▲ 0.6% |
| Remuneration and social security454/9 | €166 | €2,299 | €7,471 | €7,388 | ▼ 1.1% |
| Other amounts payable47/48 | €30,855 | €29,990 | €46,694 | €38,056 | ▼ 18.5% |
| Accrued charges and deferred income492/3 | - | €1,337 | €9,448 | €9,225 | ▼ 2.4% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€146,099 | -€177,382 | -€89,311 | €146,392 | ▲ 264% |
| + Depreciation and write-downs630 | €22,967 | €55,258 | €43,698 | €38,452 | ▼ 12.0% |
| Operating cash flow (approximation) | -€123,131 | -€122,124 | -€45,613 | €184,844 | ▲ 505% |
| Investment in fixed assets (approximation) | - | €0 | €9,205 | -€3,825 | ▼ 142% |
| Change in cash | - | -€32,993 | €10,282 | -€752 | ▼ 107% |
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
19-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €146,392
Net result €146,392 after 3 loss-making years.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€177,382
Net result drops to -€177,382, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Nandrin · 2 establishment units since 2022
Ground area
2.2 ha
Building footprint
602 m²
2 parcels, Wallonia. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
Rue de la Bouhaie 26, 4550 Nandrin
since 20222.331.190.508
VDBK MARCHE
since 20222.334.387.746
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83034A0886/00F002 | Wallonia | 1.7 ha | 1 · 506 m² | - |
| 61043A0270/00H000 | Wallonia | 4,684 m² | 1 · 97 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector and region
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 2,606 companies in sector 47551 we hold annual accounts for 1,723. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-05-2022
Fiscal year end31-12
Activities, NACEBEL 2025
47551Retail sale of household furniture
47552Retail sale of lighting equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0785806995
Also
9925:BE0785806995
Registered
18-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.