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BITO SYSTEMS

Active
Public limited companyfounded 1993active for 33 yearsBoomsesteenweg 97, 2630 Aartselaar, BelgiumKBO/BCE: BE 0449.961.620

Financials · financial year 2025, full format

Annual accounts 2025 filed on 22-06-2026 at the NBB all 31 filings

Turnover
€13.0m▼ 10.5%
2024 · €14.6m
EBIT margin
1.0%▼ 0.3pp
2024 · 1.4%
Net result
€208,288▼ 19.1%
2024 · €257,518
Working capital
€4.8m▲ 11.1%
2024 · €4.3m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 33% lower than in 2024 and the lowest since 2021. It is the third fall in a row.

Turnover€13.0m 2025 Operating result€0.1m 2025 Net result€0.2m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€14.8m-€14.6m▼ 1.3%€19.9m▲ 35.6%€11.5m▼ 42.2%€26.8m▲ 133%€18.7m▼ 30.2%€14.6m▼ 22.1%€13.0m▼ 10.5%
Operating result€0.3m-€0.06m▼ 80.4%€1.2m▲ 20×€0.4m▼ 69.9%€1.3m▲ 253%€0.8m▼ 37.8%€0.2m▼ 76.0%€0.1m▼ 33.2%
Net result€0.3m-€0.3m▼ 7.1%€1.1mabove the sector's middle half▲ 305%€0.5mwithin the sector's middle half▼ 58.1%€1.1mabove the sector's middle half▲ 142%€0.7mabove the sector's middle half▼ 34.8%€0.3mwithin the sector's middle half▼ 65.4%€0.2mwithin the sector's middle half▼ 19.1%
EBIT margin2.1%-0.4%▼ 1.7pp6.3%▲ 5.9pp3.3%▼ 3.0pp5.0%▲ 1.7pp4.4%▼ 0.5pp1.4%▼ 3.1pp1.0%▼ 0.3pp
Equity€7.8m-€7.8m▲ 0.2%€8.3mabove the sector's middle half▲ 6.8%€7.8mabove the sector's middle half▼ 6.4%€8.2mabove the sector's middle half▲ 5.1%€7.7mabove the sector's middle half▼ 5.6%€7.3mabove the sector's middle half▼ 5.1%€7.5mabove the sector's middle half▲ 2.0%
Total assets€14.6m-€15.9m▲ 8.9%€11.7mabove the sector's middle half▼ 26.2%€15.8mabove the sector's middle half▲ 35.0%€11.7mwithin the sector's middle half▼ 26.2%€13.6mabove the sector's middle half▲ 16.9%€8.7mwithin the sector's middle half▼ 36.0%€10.6mwithin the sector's middle half▲ 21.7%
Debt€6.8m-€8.1m▲ 18.9%€3.4m▼ 58.0%€8.0m▲ 136%€3.5m▼ 56.4%€5.9m▲ 69.3%€1.4m▼ 76.1%€3.2m▲ 123%
Working capital€3.7m-€3.3m▼ 10.4%€4.1mabove the sector's middle half▲ 24.5%€4.0mabove the sector's middle half▼ 3.3%€4.7mabove the sector's middle half▲ 17.9%€4.4mabove the sector's middle half▼ 5.3%€4.3mabove the sector's middle half▼ 3.3%€4.8mabove the sector's middle half▲ 11.1%
Solvency53.3%-49.0%▼ 4.3pp70.9%above the sector's middle half▲ 21.9pp49.2%within the sector's middle half▼ 21.7pp70.0%above the sector's middle half▲ 20.8pp56.5%within the sector's middle half▼ 13.5pp83.8%above the sector's middle half▲ 27.3pp70.3%above the sector's middle half▼ 13.5pp
Current ratio1.60-1.41▼ 0.192.21within the sector's middle half▲ 0.801.50within the sector's middle half▼ 0.712.34within the sector's middle half▲ 0.851.75within the sector's middle half▼ 0.594.04above the sector's middle half▲ 2.292.51within the sector's middle half▼ 1.53
Return on assets (ROA)2.1%-1.8%▼ 0.3pp9.6%within the sector's middle half▲ 7.9pp3.0%within the sector's middle half▼ 6.6pp9.8%within the sector's middle half▲ 6.8pp5.5%within the sector's middle half▼ 4.3pp3.0%within the sector's middle half▼ 2.5pp2.0%within the sector's middle half▼ 1.0pp
Staff (FTE)11.8-14.3▲ 21.2%14.3within the sector's middle half=12.9within the sector's middle half▼ 9.8%13.4within the sector's middle half▲ 3.9%14within the sector's middle half▲ 4.5%11.6within the sector's middle half▼ 17.1%10.7within the sector's middle half▼ 7.8%
above within below The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.6m
Fixed assets €2.7m ▼ 10.8%
Current assets €7.9m ▲ 38.9%
Equity and liabilities €10.6m
Equity €7.5m ▲ 2.0%
Debt €3.2m ▲ 123%
Debt's share of the balance-sheet total rises from 16.2% to 29.7%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€212,556▼
2024 · €302,999
Cash flow
€288,385▼
2024 · €362,199
Quick ratio
1.89▼
2024 · 3.84
Debt to equity
0.42▲
2024 · 0.19
ROE
2.8%▼
2024 · 3.5%
Interest coverage
79.02▲
2024 · 15.92
Debt ≤ 1 year
€3.2m▲
2024 · €1.4m
Income taxes
€74,601▼
2024 · €94,878
Customer credit
96 days▲
2024 · 66 days
Supplier credit
38 days▲
2024 · 30 days
Staff costs
€1.6m▼
2024 · €1.6m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date1315141112
full-time1113121011
part-time22211
in full-time equivalents12.314.313.310.511.5
Average over the year, in full-time equivalents12.913.41411.610.7
On a permanent contract1315141112
Joined02111
Left20240
Training hours12128-35-

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€19,336€48,028€192,998€183,843€5,583
Intangible fixed assets----€23,500
Financial fixed assets----€0
Depreciation and write-downs of the year€113,130€93,506€91,599€104,681€80,096

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees
Item20212022202320242025
Fee for the audit€15,826€16,729€17,397€17,973€21,668
Work by persons linked to the auditor€36,258€14,157€7,664€7,860€5,814

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 73 lines
Balance sheet Code20242025
Assets
Total assets20/58€8.7m€10.6m▲
Fixed assets21/28€3.0m€2.7m▼
Intangible fixed assets21€0€0.02m▲
Tangible fixed assets22/27€0.5m€0.5m▼
Land and buildings22€0.4m€0.4m▼
Plant, machinery and equipment23€0-
Furniture and vehicles24€0.2m€0.1m▼
Financial fixed assets28€2.5m€2.2m▼
Affiliated companies280/1€2.5m€2.2m▼
Amounts receivable281€2.5m€2.2m▼
Current assets29/58€5.7m€7.9m▲
Stocks and contracts in progress3€0.3m€2.0m▲
Contracts in progress37€0.3m€2.0m▲
Amounts receivable within one year40/41€3.0m€3.8m▲
Trade receivables40€2.6m€3.4m▲
Other amounts receivable41€0.4m€0.4m▼
Cash at bank and in hand54/58€2.4m€2.2m▼
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€8.7m€10.6m▲
Equity10/15€7.3m€7.5m▲
Contributions10/11€5.8m€5.8m=
Capital10€5.8m€5.8m=
Issued capital100€5.8m€5.8m=
Reserves13€1.5m€1.6m▲
Non-distributable reserves130/1€0.5m€0.5m▲
Legal reserve130€0.5m€0.5m▲
Distributable reserves133€1.0m€1.1m▲
Amounts payable17/49€1.4m€3.2m▲
Amounts payable within one year42/48€1.4m€3.2m▲
Trade debts44€0.9m€1.2m▲
Suppliers440/4€0.9m€1.2m▲
Advances received on contracts in progress46€0.2m€1.6m▲
Taxes, remuneration and social security45€0.3m€0.3m▲
Taxes450/3€0.06m€0.1m▲
Remuneration and social security454/9€0.2m€0.2m▼
Income statement Code20242025
Operating income70/76A€13.8m€14.9m▲
Turnover70€14.6m€13.0m▼
Change in stocks of work in progress, finished goods and contracts in progress71-€1.0m€1.7m▲
Other operating income74€0.2m€0.2m▼
Non-recurring operating income76A€0.01m€0.01m▼
Operating charges60/66A€13.6m€14.8m▲
Goods for resale, raw materials and consumables60€10.7m€11.9m▲
Purchases600/8€10.7m€11.9m▲
Services and other goods61€1.0m€1.2m▲
Remuneration, social security and pensions62€1.6m€1.6m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.08m▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.07m-€0.004m▼
Other operating charges640/8€0.02m€0.03m▲
Non-recurring operating charges66A€0.02m€0▼
Operating profit (loss)9901€0.2m€0.1m▼
Financial income75/76B€0.2m€0.2m▼
Recurring financial income75€0.2m€0.2m▼
Income from financial fixed assets750€0.2m€0.2m▼
Other financial income752/9€0.04m€0.003m▼
Financial charges65/66B€0.07m€0.02m▼
Recurring financial charges65€0.07m€0.02m▼
Debt charges650€0.02m€0.003m▼
Other financial charges652/9€0.05m€0.01m▼
Profit (loss) for the period before taxes9903€0.4m€0.3m▼
Income taxes67/77€0.09m€0.07m▼
Taxes670/3€0.1m€0.08m▼
Tax adjustments and reversals of tax provisions77€0.001m€0.001m▲
Profit (loss) for the period9904€0.3m€0.2m▼
Profit (loss) for the period to be appropriated9905€0.3m€0.2m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.3m€0.2m▼
Transfer from equity791/2€0.7m€0.06m▼
From reserves792€0.7m€0.06m▼
Transfer to equity691/2€0.3m€0.2m▼
To the legal reserve6920€0.01m€0.01m▼
To other reserves6921€0.2m€0.2m▼
Profit to be distributed694/7€0.7m€0.06m▼
Return on contributions (dividend)694€0.7m€0.06m▼
Social balance sheet
Average headcount (FTE)908711.610.7▼

The notes to these accounts have 56 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 22-06-2026.

Line20182019202020212022202320242025Change
Operating income70/76A---€16.8m€22.5m€18.5m€13.8m€14.9m▲ 8.2%
Turnover70€14.8m€14.6m€19.9m€11.5m€26.8m€18.7m€14.6m€13.0m▼ 10.5%
Change in stocks of work in progress, finished goods and contracts in progress71---€4.9m-€4.4m-€0.6m-€1.0m€1.7m-
Other operating income74---€0.4m€0.2m€0.4m€0.2m€0.2m▼ 0.4%
Non-recurring operating income76A-----€0.02m€0.01m€0.01m▼ 8.5%
Operating charges60/66A---€16.4m€21.2m€17.7m€13.6m€14.8m▲ 8.8%
Goods for resale, raw materials and consumables60---€14.0m€18.4m€14.7m€10.7m€11.9m▲ 11.2%
Purchases600/8---€14.0m€18.4m€14.7m€10.7m€11.9m▲ 11.2%
Services and other goods61---€0.7m€0.9m€0.8m€1.0m€1.2m▲ 14.4%
Remuneration, social security and pensions62---€1.6m€1.8m€2.1m€1.6m€1.6m▼ 2.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.1m€0.1m€0.1m€0.09m€0.09m€0.1m€0.08m▼ 23.5%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4----€0.003m-€0.8m€0.07m-€0.004m-
Other operating charges640/8---€0.04m€0.01m€0.8m€0.02m€0.03m▲ 79.5%
Non-recurring operating charges66A------€0.02m€0▼ 100%
Operating profit (loss)9901€0.3m€0.06m€1.2m€0.4m€1.3m€0.8m€0.2m€0.1m▼ 33.2%
Financial income75/76B---€0.3m€0.2m€0.2m€0.2m€0.2m▼ 24.1%
Recurring financial income75€0.3m€0.3m€0.3m€0.3m€0.2m€0.2m€0.2m€0.2m▼ 24.1%
Income from financial fixed assets750---€0.2m€0.2m€0.2m€0.2m€0.2m▼ 9.1%
Income from current assets751---€0.01m-----
Other financial income752/9---€0.04m€0.01m€0.007m€0.04m€0.003m▼ 92.4%
Financial charges65/66B---€0.03m€0.01m€0.03m€0.07m€0.02m▼ 73.9%
Recurring financial charges65€0.1m€0.02m€0.006m€0.03m€0.01m€0.03m€0.07m€0.02m▼ 73.9%
Debt charges650€0.005m€0.004m--€0.002m€0.01m€0.02m€0.003m▼ 85.9%
Other financial charges652/9---€0.03m€0.01m€0.01m€0.05m€0.01m▼ 69.2%
Profit (loss) for the period before taxes9903€0.5m€0.3m€1.5m€0.6m€1.5m€1.0m€0.4m€0.3m▼ 19.7%
Income taxes67/77€0.2m€0.06m€0.4m€0.2m€0.4m€0.3m€0.09m€0.07m▼ 21.4%
Taxes670/3---€0.2m€0.4m€0.3m€0.1m€0.08m▼ 21.2%
Tax adjustments and reversals of tax provisions77----€0.002m€4€0.001m€0.001m▲ 1.2%
Profit (loss) for the period9904€0.3m€0.3m€1.1m€0.5m€1.1m€0.7m€0.3m€0.2m▼ 19.1%
Profit (loss) for the period to be appropriated9905€0.3m€0.3m€1.1m€0.5m€1.1m€0.7m€0.3m€0.2m▼ 19.1%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€14.6m€15.9m€11.7m€15.8m€11.7m€13.6m€8.7m€10.6m▲ 21.7%
Fixed assets21/28€4.7m€4.5m€4.2m€3.8m€3.5m€3.3m€3.0m€2.7m▼ 10.8%
Intangible fixed assets21€0.04m€0.02m€0.07m€0.05m€0.03m€0.02m€0€0.02m-
Tangible fixed assets22/27€0.6m€0.6m€0.5m€0.4m€0.4m€0.5m€0.5m€0.5m▼ 13.6%
Land and buildings22---€0.3m€0.3m€0.3m€0.4m€0.4m▼ 9.0%
Plant, machinery and equipment23---€0.004m€0.002m€279€0--
Furniture and vehicles24---€0.2m€0.1m€0.2m€0.2m€0.1m▼ 25.5%
Financial fixed assets28€4.1m€3.9m€3.6m€3.3m€3.0m€2.8m€2.5m€2.2m▼ 11.1%
Affiliated companies280/1---€3.3m€3.0m€2.8m€2.5m€2.2m▼ 11.1%
Amounts receivable281---€3.3m€3.0m€2.8m€2.5m€2.2m▼ 11.1%
Current assets29/58€9.8m€11.4m€7.5m€12.0m€8.2m€10.4m€5.7m€7.9m▲ 38.9%
Stocks and contracts in progress3€3.2m€3.6m€1.5m€6.3m€1.9m€1.3m€0.3m€2.0m▲ 590%
Contracts in progress37---€6.3m€1.9m€1.3m€0.3m€2.0m▲ 590%
Amounts receivable within one year40/41€4.8m€5.9m€5.2m€4.4m€5.6m€7.9m€3.0m€3.8m▲ 26.0%
Trade receivables40---€3.5m€5.0m€7.4m€2.6m€3.4m▲ 31.7%
Other amounts receivable41---€0.9m€0.6m€0.5m€0.4m€0.4m▼ 10.7%
Cash at bank and in hand54/58€1.3m€1.9m€0.9m€1.2m€0.7m€1.2m€2.4m€2.2m▼ 10.2%
Deferred charges and accrued income490/1---€0.02m€0.006m€0.02m€0--
Equity and liabilities
Total equity and liabilities10/49€14.6m€15.9m€11.7m€15.8m€11.7m€13.6m€8.7m€10.6m▲ 21.7%
Equity10/15€7.8m€7.8m€8.3m€7.8m€8.2m€7.7m€7.3m€7.5m▲ 2.0%
Contributions10/11€5.8m€5.8m€5.8m€5.8m€5.8m€5.8m€5.8m€5.8m=
Capital10---€5.8m€5.8m€5.8m€5.8m€5.8m=
Issued capital100---€5.8m€5.8m€5.8m€5.8m€5.8m=
Reserves13€1.9m€1.9m€2.5m€1.9m€2.3m€1.9m€1.5m€1.6m▲ 10.0%
Non-distributable reserves130/1---€0.4m€0.5m€0.5m€0.5m€0.5m▲ 2.1%
Legal reserve130---€0.4m€0.5m€0.5m€0.5m€0.5m▲ 2.1%
Distributable reserves133---€1.5m€1.9m€1.4m€1.0m€1.1m▲ 14.1%
Amounts payable17/49€6.8m€8.1m€3.4m€8.0m€3.5m€5.9m€1.4m€3.2m▲ 123%
Amounts payable within one year42/48€6.1m€8.1m€3.4m€8.0m€3.5m€5.9m€1.4m€3.2m▲ 123%
Trade debts44€2.6m€2.0m€1.1m€0.8m€1.4m€3.5m€0.9m€1.2m▲ 39.5%
Suppliers440/4---€0.8m€1.4m€3.5m€0.9m€1.2m▲ 39.5%
Advances received on contracts in progress46---€6.9m€1.3m€1.7m€0.2m€1.6m▲ 584%
Taxes, remuneration and social security45---€0.3m€0.8m€0.7m€0.3m€0.3m▲ 10.9%
Taxes450/3---€0.02m€0.4m€0.3m€0.06m€0.1m▲ 67.3%
Remuneration and social security454/9---€0.3m€0.4m€0.4m€0.2m€0.2m▼ 4.0%
Accrued charges and deferred income492/3---€0.001m€435€0---
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.3m€0.3m€1.1m€0.5m€1.1m€0.7m€0.3m€0.2m▼ 19.1%
+ Depreciation and write-downs630€0.2m€0.1m€0.1m€0.1m€0.09m€0.09m€0.1m€0.08m▼ 23.5%
Operating cash flow (approximation)€0.5m€0.4m€1.3m€0.6m€1.2m€0.8m€0.4m€0.3m▼ 20.4%
Investment in fixed assets (approximation)-€0.1m€0.2m€0.3m€0.2m€0.1m€0.1m€0.2m▲ 76.5%
Change in cash-€0.6m-€1.1m€0.3m-€0.5m€0.5m€1.2m-€0.2m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 14,766 companies had the same profile as BITO SYSTEMS has now. Two years later, 0.2% had gone bankrupt and 96.2% were still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.2% went bankrupt
3.5% stopped otherwise
96.2% was still going

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of BITO SYSTEMS itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,446 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 14,766 companies, not a prediction for BITO SYSTEMS. 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.

Latest 10 of 31 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 22-06-2026 2026-00188948 PDF
31-12-2024 full format 10-07-2025 2025-00254622 PDF
31-12-2023 full format 23-05-2024 2024-00094390 PDF
31-12-2022 full format 23-05-2023 2023-00093547 PDF
31-12-2021 full format 24-05-2022 2022-20033339 PDF
31-12-2020 full format 02-07-2021 2021-30600499 PDF
31-12-2019 full format 26-05-2020 2020-13200128 PDF
31-12-2018 full format 24-05-2019 2019-14400185 PDF
31-12-2017 full format 30-05-2018 2018-14800213 PDF
31-12-2016 full format 02-06-2017 2017-14800068 PDF

Show all 31 filings

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