Equity
Equity fell by 52% in 13 years.
Equity fell by 52% in 13 years.
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
Less equity than 88% of companies in crop and animal production. Sector median €806,018 · 565 companies.
The dashed line is the sector median: 0.1% across 5,696 companies (NACE 01, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 01, micro). It does better than 54% of them on solvency, 66% on liquidity, 10% on profitability and 15% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 12,322 companies had the same profile as BIOP has now. Each dot stands for 31 companies, two years later.
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BIOP itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 12,322 companies, not a prediction for BIOP. 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.
Liquidity is insufficient, with a current ratio of 0.64 (0.67 in 2024), below 1. Short-term debt is 60.9% and cash 31.9% of total assets. 60.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 6 days before the deadline. In the sector (NACE 01), the median for financial year 2024 was 3 days before the deadline, and 37% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| BIOP Braine-l'Alleud | €145,573 | -€1,378 | 39.1% | - |
| WILFRIED DE BRABANDER Bruges | €132,305 | -€6,695 | 84.9% | - |
| AGRI-ROEULX Huy | €180,440 | -€6,463 | -151.4% | - |
| GILLES AGRI Jodoigne | €195,402 | €1,231 | 11.7% | - |
| VOEDERS SAVAT Lievegem | €138,036 | -€775 | -72.8% | - |
| Jo Beck Ronse | €116,562 | -€24,065 | 6.3% | - |
| AGRICUMES Remicourt | €115,465 | -€7,314 | 57.4% | - |
These companies have the same main activity as BIOP: growing of cereals (except rice), leguminous crops and oil seeds (NACE 01110). They are comparable in size and age: total assets between €115,000 and €195,000, founded between 1979 and 1993.
BIOP has been active since 1986 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €56,911 and a net result of -€12,946.
Equity has been stable since 2018 (±2.2% per year). Its solvency ranks better than 45% of 565 sector peers (NACE 01, financial year 2025).
The computed 12-month bankruptcy probability is below 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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