BIPA
ActiveSummary
BIPA has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€14.3m) and a net result of -€4.0m. Equity is shrinking by ~26.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.01 in 2024; short-term debt: 141.7% and cash: 11.7% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-663.8%
Return on assets
-183%
Age of the figures
17 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€14.3m
neutral · Latest accounts filed on time
The financial year that closed on 30-04-2025 was due by 30-11-2025 and was filed on 23-10-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
38 d early
2023
21 d early
2022
61 d early
2021
39 d early
2020
3 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-04-2026 and is due by 30-11-2026. Nothing is late today. Usually files around 23 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-04-2026 close28-09-2026 today30-11-2026 deadline
History
Go further with this company
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 What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
-€14.3m▼ 38.1%
2024 · -€10.4m
Total assets
€2.2m▲ 1.4%
2024 · €2.1m
Net result
-€4.0m▼ 20.4%
2024 · -€3.3m
Working capital
-€2.7m▲ 43.7%
2024 · -€4.8m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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
Line20212022202320242025
Operating result-€748,714▼ 5.2%-€695,741▲ 7.1%-€936,025▼ 34.5%-€2.5m▼ 171%-€2.8m▼ 10.3%
Net result-€1.0mbelow the sector's middle half▼ 9.4%-€1.0mbelow the sector's middle half=-€1.3mbelow the sector's middle half▼ 28.5%-€3.3mbelow the sector's middle half▼ 145%-€4.0mbelow the sector's middle half▼ 20.4%
Equity-€4.7mbelow the sector's middle half▼ 28.5%-€5.8mbelow the sector's middle half▼ 22.2%-€7.1mbelow the sector's middle half▼ 23.3%-€10.4mbelow the sector's middle half▼ 46.2%-€14.3mbelow the sector's middle half▼ 38.1%
Total assets€4.4mabove the sector's middle half▼ 3.6%€4.4mabove the sector's middle half▲ 0.3%€4.5mabove the sector's middle half▲ 4.0%€2.1mwithin the sector's middle half▼ 53.1%€2.2mwithin the sector's middle half▲ 1.4%
Debt€9.1m▲ 10.8%€10.1m▲ 11.6%€11.6m▲ 15.0%€12.5m▲ 7.4%€16.5m▲ 31.8%
Working capital-€1.8mbelow the sector's middle half▼ 0.5%-€1.7mbelow the sector's middle half▲ 3.4%-€1.6mbelow the sector's middle half▲ 6.0%-€4.8mbelow the sector's middle half▼ 205%-€2.7mbelow the sector's middle half▲ 43.7%
Solvency-108.2%below the sector's middle half▼ 27.0pp-131.8%below the sector's middle half▼ 23.6pp-156.2%below the sector's middle half▼ 24.4pp-487.4%below the sector's middle half▼ 331.1pp-663.8%below the sector's middle half▼ 176.4pp
Current ratio0.06below the sector's middle half▼ 0.030.09below the sector's middle half▲ 0.030.17below the sector's middle half▲ 0.080.01below the sector's middle half▼ 0.170.11below the sector's middle half▲ 0.10
Return on assets (ROA)-24.0%below the sector's middle half▼ 2.9pp-23.9%below the sector's middle half▲ 0.1pp-29.5%below the sector's middle half▼ 5.6pp-154.0%below the sector's middle half▼ 124.5pp-183.0%below the sector's middle half▼ 29.0pp
Staff (FTE)4.2=3within the sector's middle half▼ 28.6%3.3within the sector's middle half▲ 10.0%4within the sector's middle half▲ 21.2%3.7within the sector's middle half▼ 7.5%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2.8m in 2025 against €2.5m in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€1.8m ▼ 13.1%
Current assets
€331,993 ▲ 1,137%
Key figures and ratios
EBITDA
-€2.3m▼
2024 · -€2.2m
Cash flow
-€3.5m▼
2024 · -€3.0m
Quick ratio
0.09▲
2024 · 0.00
Debt to equity
-1.15▲
2024 · -1.21
Interest coverage
-2.00▲
2024 · -3.02
Debt ≤ 1 year
€3.1m▼
2024 · €4.9m
Debt > 1 year
€12.2m▲
2024 · €7.1m
Income taxes
€141▼
2024 · €167
Staff costs
€354,363▲
2024 · €339,788
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 6,639 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €258,928 | €349,535 | €339,788 | €354,363 | ▲ 4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €315,767 | €298,497 | €282,262 | €288,621 | €490,702 | ▲ 70.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €47,950 | -€37,605 | ▼ 178% |
| Other operating charges640/8 | - | €868 | €868 | €7,074 | €16,127 | ▲ 128% |
| Non-recurring operating charges66A | - | - | - | €30,252 | - | - |
| Gross operating margin9900 | -€94,165 | -€137,448 | -€303,359 | -€1.8m | -€2.0m | ▼ 8.3% |
| Operating profit (loss)9901 | -€748,714 | -€695,741 | -€936,025 | -€2.5m | -€2.8m | ▼ 10.3% |
| Financial income75/76B | - | €451 | €2,585 | €1,436 | €4,225 | ▲ 194% |
| Recurring financial income75 | €574 | €451 | €2,585 | €1,436 | €4,225 | ▲ 194% |
| Financial charges65/66B | - | €349,042 | €408,454 | €745,460 | €1.2m | ▲ 55.2% |
| Recurring financial charges65 | €280,906 | €338,308 | €408,454 | €745,460 | €1.2m | ▲ 55.2% |
| Non-recurring financial charges66B | - | €10,734 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€1.0m | -€1.0m | -€1.3m | -€3.3m | -€4.0m | ▼ 20.4% |
| Income taxes67/77 | €193 | €383 | €154 | €167 | €141 | ▼ 15.7% |
| Profit (loss) for the period9904 | -€1.0m | -€1.0m | -€1.3m | -€3.3m | -€4.0m | ▼ 20.4% |
| Profit (loss) for the period to be appropriated9905 | -€1.0m | -€1.0m | -€1.3m | -€3.3m | -€4.0m | ▼ 20.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.4m | €4.4m | €4.5m | €2.1m | €2.2m | ▲ 1.4% |
| Fixed assets21/28 | €4.3m | €4.2m | €4.2m | €2.1m | €1.8m | ▼ 13.1% |
| Intangible fixed assets21 | €707,090 | €669,759 | €676,582 | €1.8m | €1.5m | ▼ 17.0% |
| Tangible fixed assets22/27 | €1,067 | €1,871 | €1,963 | €2,215 | €855 | ▼ 61.4% |
| Plant, machinery and equipment23 | - | €1,871 | €1,963 | €2,215 | €855 | ▼ 61.4% |
| Financial fixed assets28 | €3.5m | €3.5m | €3.5m | €285,279 | €320,191 | ▲ 12.2% |
| Current assets29/58 | €103,266 | €162,536 | €331,448 | €26,842 | €331,993 | ▲ 1,137% |
| Stocks and contracts in progress3 | €32,482 | €28,828 | €47,201 | €8,185 | €58,825 | ▲ 619% |
| Stocks30/36 | - | €28,828 | €47,201 | €8,185 | €58,825 | ▲ 619% |
| Amounts receivable within one year40/41 | €12,603 | €36,193 | €46,678 | €15,565 | €21,077 | ▲ 35.4% |
| Trade receivables40 | - | €20,747 | - | - | €3,934 | - |
| Other amounts receivable41 | - | €15,446 | €46,678 | €15,565 | €17,143 | ▲ 10.1% |
| Cash at bank and in hand54/58 | €57,475 | €96,262 | €237,199 | - | €252,091 | - |
| Deferred charges and accrued income490/1 | - | €1,253 | €369 | €3,092 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.4m | €4.4m | €4.5m | €2.1m | €2.2m | ▲ 1.4% |
| Equity10/15 | -€4.7m | -€5.8m | -€7.1m | -€10.4m | -€14.3m | ▼ 38.1% |
| Contributions10/11 | €62,221 | €62,221 | €62,221 | €62,221 | €62,221 | = |
| Capital10 | - | €62,221 | €62,221 | €62,221 | €62,221 | = |
| Issued capital100 | - | €62,221 | €62,221 | €62,221 | €62,221 | = |
| Reserves13 | €6,222 | €6,222 | €6,222 | €6,222 | €6,222 | = |
| Non-distributable reserves130/1 | - | €6,222 | €6,222 | €6,222 | €6,222 | = |
| Legal reserve130 | - | €6,222 | €6,222 | €6,222 | €6,222 | = |
| Profit (loss) carried forward14 | -€4.8m | -€5.8m | -€7.2m | -€10.5m | -€14.4m | ▼ 37.8% |
| Amounts payable17/49 | €9.1m | €10.1m | €11.6m | €12.5m | €16.5m | ▲ 31.8% |
| Amounts payable after more than one year17 | €7.2m | €8.2m | €9.5m | €7.1m | €12.2m | ▲ 70.5% |
| Financial debts170/4 | - | €8.2m | €9.5m | €7.1m | €12.2m | ▲ 70.5% |
| Amounts payable within one year42/48 | €1.9m | €1.9m | €1.9m | €4.9m | €3.1m | ▼ 37.2% |
| Financial debts43 | - | €1.5m | €1.5m | €3.0m | - | - |
| Credit institutions430/8 | - | €1.5m | €1.5m | €3.0m | - | - |
| Trade debts44 | €175,087 | €211,264 | €218,216 | €1.7m | €2.9m | ▲ 73.3% |
| Suppliers440/4 | - | €211,264 | €218,216 | €1.7m | €2.9m | ▲ 73.3% |
| Taxes, remuneration and social security45 | - | €36,624 | €47,743 | €41,134 | €48,996 | ▲ 19.1% |
| Taxes450/3 | - | €1,146 | €1,243 | €1,248 | €141 | ▼ 88.7% |
| Remuneration and social security454/9 | - | €35,477 | €46,501 | €39,886 | €48,855 | ▲ 22.5% |
| Other amounts payable47/48 | - | €106,915 | €157,002 | €128,790 | €78,790 | ▼ 38.8% |
| Accrued charges and deferred income492/3 | - | €114,499 | €257,588 | €516,349 | €1.3m | ▲ 149% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.0m | -€1.0m | -€1.3m | -€3.3m | -€4.0m | ▼ 20.4% |
| + Depreciation and write-downs630 | €315,767 | €298,497 | €282,262 | €288,621 | €490,702 | ▲ 70.0% |
| Operating cash flow (approximation) | -€728,961 | -€746,217 | -€1.1m | -€3.0m | -€3.5m | ▼ 15.6% |
| Investment in fixed assets (approximation) | - | -€251,235 | -€289,179 | €1.8m | -€214,549 | ▼ 112% |
| Change in cash | - | €38,787 | €140,937 | - | - | - |
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
2025
23-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-04
Financial
Weakest financial yearnet -€4.0m
Net result drops to -€4.0m, the lowest in the series.
2024
23-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
09-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
22-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
15-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
14-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
10 acts for this company are 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, Londerzeel · 1 establishment unit since 1999
Ground area
2.7 ha
Building footprint
7,456 m²
Volume, LiDAR
70,695 m³
Parcel 23045D0134/00A000, Flanders · tallest building 13.8 m, ±3 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Technologielaan 7, 1840 Londerzeel
since 19992.091.755.312
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23045D0134/00A000 | Flanders | 2.7 ha | 1 · 7,456 m² | 13.8 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.
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
-
35.82%
Holdings 1
-
24.3%
According to the annual accounts to 30-04-2023 of BIPA and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
European research
4 projects · 939,284 EUR EU contributionProgrammes
Projects
Innovative bio-based pesticides to minimize chemical residue risk on food
From microbial interactions to new-concept biopesticides and biofertilizers
Replacement of Contentious Inputs in organic farming Systems
Innovative tools for rational control of the most difficult-to-manage pests (super pests) and the diseases they transmit
Recognitions · licences · registrations
Food safety, FASFC
1 siteLonderzeel2.091.755.312
Similar companies · same sector, comparable size
KEYSERS VEEVOEDERS
BE 0478.096.766
Malle · FTE 3.7
ETABLISSEMENTS DELANGUE
BE 0405.867.992
Brunehaut · FTE 3.8
DE NEEF TUINBOUW
BE 0421.303.068
Opwijk · FTE 3.8
DE TUINVRIEND HDS
BE 0452.435.714
Herk-de-Stad · FTE 3.8
ETS HOORNE
BE 0454.026.910
Rebecq · FTE 3.8
Of 689 companies in sector 46216 we hold annual accounts for 476. 270 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-05-1999
Fiscal year end30-04
Activities, NACEBEL 2025
46216Wholesale of agricultural produce and animal feed, general range
72109Other research and development on natural sciences
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466053326
Also
9925:BE0466053326
Registered
31-12-2025
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.