BGZ
ActiveSummary
The computed 12-month bankruptcy probability of BGZ is 3.3% (moderate). The 2025 annual accounts show equity of €16,875 and a net result of €12,491. Equity is growing by ~156% per year across the filed fiscal years. Its solvency ranks better than 30% of 262 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
Profitability88▲+16
Solvency46▲+14
Growth78=
Track record94
Bankruptcy probability, 12 months
3.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 1.0 against 0.7 in 2024; short-term debt: 79.3% and cash: 2.5% of total assets), and 79.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
20.7%
Return on assets
15.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
25 d late
2024
132 d late
2023
29 d early
2022
26 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 26 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€16,875▲ 285%
2024 · €4,385
Total assets
€81,525▲ 36.9%
2024 · €59,530
Net result
€12,491▲ 791%
2024 · €1,402
Working capital
-€320▲ 98.1%
2024 · -€16,571
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result-€5,146-€6,712€2,877▼ 57.1%€17,877▲ 521%
Net result-€5,164-€5,146€1,402▼ 72.8%€12,491▲ 791%
Equity-€2,164-€2,983€4,385▲ 47.0%€16,875▲ 285%
Total assets€16,182-€21,436▲ 32.5%€59,530▲ 178%€81,525▲ 36.9%
Debt€18,346-€18,453▲ 0.6%€55,145▲ 199%€64,650▲ 17.2%
Working capital-€5,396--€1,721▲ 68.1%-€16,571▼ 863%-€320▲ 98.1%
Staff (FTE)3.51▼ 71.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 521% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €81,525
Fixed assets
€17,196 ▼ 17.9%
Current assets
€64,329 ▲ 66.8%
Equity and liabilities €81,525
Equity
€16,875 ▲ 285%
Debt
€64,650 ▲ 17.2%
Debt's share of the balance-sheet total falls from 92.6% to 79.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€29,637▲
2024 · €10,956
Cash flow
€24,251▲
2024 · €9,481
Current ratio
1.00▲
2024 · 0.70
Debt to equity
3.83▼
2024 · 12.58
ROE
74.0%▲
2024 · 32.0%
ROA
15.3%▲
2024 · 2.4%
Interest coverage
38.21▼
2024 · 116.36
Debt ≤ 1 year
€64,650▲
2024 · €55,145
Income taxes
€4,647▲
2024 · €1,381
Staff costs
€48,115▼
2024 · €68,203
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.3% 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 497,058 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% | 1.6% |
| 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 74% 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 7,976 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 |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €68,203 | €48,115 | ▼ 29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €217 | €1,679 | €8,080 | €11,760 | ▲ 45.6% |
| Other operating charges640/8 | €80 | €908 | €1,670 | €1,514 | ▼ 9.3% |
| Gross operating margin9900 | -€4,849 | €9,299 | €80,829 | €79,267 | ▼ 1.9% |
| Operating profit (loss)9901 | -€5,146 | €6,712 | €2,877 | €17,877 | ▲ 521% |
| Financial income75/76B | - | - | - | €36 | - |
| Recurring financial income75 | - | - | - | €36 | - |
| Financial charges65/66B | €17 | €147 | €94 | €776 | ▲ 724% |
| Recurring financial charges65 | €17 | €147 | €94 | €776 | ▲ 724% |
| Profit (loss) for the period before taxes9903 | -€5,164 | €6,565 | €2,783 | €17,138 | ▲ 516% |
| Income taxes67/77 | - | €1,418 | €1,381 | €4,647 | ▲ 237% |
| Profit (loss) for the period9904 | -€5,164 | €5,146 | €1,402 | €12,491 | ▲ 791% |
| Profit (loss) for the period to be appropriated9905 | -€5,164 | €5,146 | €1,402 | €12,491 | ▲ 791% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €16,182 | €21,436 | €59,530 | €81,525 | ▲ 36.9% |
| Fixed assets21/28 | €3,233 | €4,703 | €20,956 | €17,196 | ▼ 17.9% |
| Tangible fixed assets22/27 | €3,233 | €4,703 | €20,956 | €9,196 | ▼ 56.1% |
| Plant, machinery and equipment23 | €3,233 | €4,703 | €6,643 | €1,327 | ▼ 80.0% |
| Furniture and vehicles24 | - | - | €14,313 | €7,869 | ▼ 45.0% |
| Financial fixed assets28 | - | - | - | €8,000 | - |
| Current assets29/58 | €12,950 | €16,733 | €38,574 | €64,329 | ▲ 66.8% |
| Amounts receivable within one year40/41 | €2,815 | €15,973 | €38,572 | €62,330 | ▲ 61.6% |
| Trade receivables40 | - | €14,240 | €36,310 | €58,642 | ▲ 61.5% |
| Other amounts receivable41 | €2,815 | €1,733 | €2,262 | €3,688 | ▲ 63.0% |
| Current investments50/53 | - | - | - | €0 | - |
| Cash at bank and in hand54/58 | €30 | €760 | €1 | €1,999 | ▲ 135,856% |
| Deferred charges and accrued income490/1 | €10,105 | - | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €16,182 | €21,436 | €59,530 | €81,525 | ▲ 36.9% |
| Equity10/15 | -€2,164 | €2,983 | €4,385 | €16,875 | ▲ 285% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | - | - | €1,385 | €13,875 | ▲ 902% |
| Distributable reserves133 | - | - | €1,385 | €13,875 | ▲ 902% |
| Profit (loss) carried forward14 | -€5,164 | -€17 | - | - | - |
| Amounts payable17/49 | €18,346 | €18,453 | €55,145 | €64,650 | ▲ 17.2% |
| Amounts payable within one year42/48 | €18,346 | €18,453 | €55,145 | €64,650 | ▲ 17.2% |
| Trade debts44 | €383 | - | €24,358 | €5,514 | ▼ 77.4% |
| Suppliers440/4 | €383 | - | €24,358 | €5,514 | ▼ 77.4% |
| Taxes, remuneration and social security45 | - | €1,418 | €17,069 | €23,342 | ▲ 36.8% |
| Taxes450/3 | - | €1,418 | €2,799 | €6,187 | ▲ 121% |
| Remuneration and social security454/9 | - | - | €14,270 | €17,156 | ▲ 20.2% |
| Other amounts payable47/48 | €17,963 | €17,035 | €13,718 | €35,793 | ▲ 161% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,164 | €5,146 | €1,402 | €12,491 | ▲ 791% |
| + Depreciation and write-downs630 | €217 | €1,679 | €8,080 | €11,760 | ▲ 45.6% |
| Operating cash flow (approximation) | -€4,946 | €6,826 | €9,481 | €24,251 | ▲ 156% |
| Investment in fixed assets (approximation) | - | -€3,150 | -€24,332 | -€8,000 | ▲ 67.1% |
| Change in cash | - | €730 | -€758 | €1,997 | ▲ 363% |
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
26-08
State Gazette act
Resignation: Hamza Talbi Aamir (director)3 facts ▸
State Gazette act
Resignation: Hamza Talbi Aamir (director)
3 facts ▸
- General meeting, 20-08-2026
- Director resignation, Hamza Talbi Aamir (director)
- Director resignation, Hamza Talbi Aamir (day-to-day manager)
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Highest result since 2022net €12,491 ▲791%
Operating result €17,877, net result €12,491, both a record.
10-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 132 days late
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €5,146
Net result €5,146 after one loss-making year.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2022
Ground area
1,491 m²
Building footprint
984 m²
Volume, LiDAR
7,216 m³
Parcel 11463D0325/00K002, Flanders · tallest building 8.2 m, ±3 floors. Linked by address, not a title deed.
314
companies at this address
See who is registered here
1 establishment unit
BGZ
since 20222.337.368.715
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11463D0325/00K002 | Flanders | 1,491 m² | 1 · 984 m² | 8.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 0 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Hamza Talbi Aamir |
|
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Of 1,372 companies in sector 61100 we hold annual accounts for 585. 317 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-10-2022
Fiscal year end31-12
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
61100Wired, wireless and satellite telecommunications
43910Bricklaying and masonry work
43990Other specialised construction activities
47811Retail sale of cars and light vans (up to 3.5 tonnes)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0792402995
Also
9925:BE0792402995
Registered
29-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.