BIVACO
ActiveSummary
BIVACO has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €408k and a net result of €-40k. Equity is shrinking by ~6.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability23▼-9
Solvency64▼-3
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days acceptable
Liquidity short (current ratio 0.25 against 0.22 in 2023; short-term debt: 56.1% and cash: 14% of total assets), and 60.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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 2024Solvency, return and age of the figures
Solvency
39.1%
Return on assets
-3.8%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-40k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-07-2025, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
9 d early
2023
7 d early
2022
13 d early
2021
9 d late
2020
30 d early
2019
29 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€408k▼ 9.0%
2023 · €448k
2018: €607khighest in 7 years
2019: €583k▼ -3.9% vs 2018
2020: €549k▼ -5.8% vs 2019
2021: €512k▼ -6.8% vs 2020
2022: €472k▼ -7.8% vs 2021
2023: €448k▼ -5.1% vs 2022
2024: €408k▼ -9.0% vs 2023lowest in 7 years
2018 → 2024
Total assets
€1.04M▼ 2.5%
2023 · €1.07M
2018: €1.26Mhighest in 7 years
2019: €1.24M▼ -2.1% vs 2018
2020: €1.18M▼ -5.0% vs 2019
2021: €1.14M▼ -3.1% vs 2020
2022: €1.10M▼ -3.7% vs 2021
2023: €1.07M▼ -2.6% vs 2022
2024: €1.04M▼ -2.5% vs 2023lowest in 7 years
2018 → 2024
Net result
€-40k▼ 67.4%
2023 · €-24k
2018: €-32k
2019: €-31k▲ +3.4% vs 2018
2020: €-41k▼ -31.2% vs 2019lowest in 7 years
2021: €-37k▲ +9.3% vs 2020
2022: €-40k▼ -7.2% vs 2021
2023: €-24k▲ +40.1% vs 2022highest in 7 years
2024: €-40k▼ -67.4% vs 2023
2018 → 2024
Working capital
€-437k▲ 2.1%
2023 · €-446k
2018: €-498klowest in 7 years
2019: €-485k▲ +2.7% vs 2018
2020: €-484k▲ +0.1% vs 2019
2021: €-479k▲ +1.1% vs 2020
2022: €-470k▲ +1.9% vs 2021
2023: €-446k▲ +5.0% vs 2022
2024: €-437k▲ +2.1% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€549k-€512k▼ 6.8%€472k▼ 7.8%€448k▼ 5.1%€408k▼ 9.0%
2020: €549khighest in 5 years
2021: €512k▼ -6.8% vs 2020
2022: €472k▼ -7.8% vs 2021
2023: €448k▼ -5.1% vs 2022
2024: €408k▼ -9.0% vs 2023lowest in 5 years
Operating result€-24k-€-21k▲ 11.4%€-26k▼ 19.0%€-5k▲ 79.7%€-15k▼ 187%
2020: €-24k
2021: €-21k▲ +11.4% vs 2020
2022: €-26k▼ -19.0% vs 2021lowest in 5 years
2023: €-5k▲ +79.7% vs 2022highest in 5 years
2024: €-15k▼ -187% vs 2023
Net result€-41k-€-37k▲ 9.3%€-40k▼ 7.2%€-24k▲ 40.1%€-40k▼ 67.4%
2020: €-41klowest in 5 years
2021: €-37k▲ +9.3% vs 2020
2022: €-40k▼ -7.2% vs 2021
2023: €-24k▲ +40.1% vs 2022highest in 5 years
2024: €-40k▼ -67.4% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €15k in 2024 against €5k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.04M
Fixed assets
€894k ▼ 4.9%
Current assets
€148k ▲ 15.7%
Equity and liabilities €1.04M
Equity
€408k ▼ 9.0%
Provisions
€30k ▼ 6.7%
Debt
€605k ▲ 2.7%
Debt's share of the balance-sheet total rises from 55.1% to 58.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€32k▼
2023 · €41k
Cash flow
€6k▼
2023 · €23k
Current ratio
0.25▲
2023 · 0.22
Debt to equity
1.48▲
2023 · 1.31
ROE
-9.8%▼
2023 · -5.4%
ROA
-3.8%▼
2023 · -2.2%
Interest coverage
1.11▼
2023 · 1.94
Debt ≤ 1 year
€585k▲
2023 · €574k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 47 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.07M€1.04M▼
Fixed assets21/28€941k€894k▼
Tangible fixed assets22/27€941k€894k▼
Land and buildings22€939k€893k▼
Plant, machinery and equipment23€429€219▼
Furniture and vehicles24€2k€870▼
Current assets29/58€128k€148k▲
Amounts receivable within one year40/41€37€323▲
Other amounts receivable41€37€323▲
Cash at bank and in hand54/58€127k€146k▲
Deferred charges and accrued income490/1€622€1k▲
Equity and liabilities
Total equity and liabilities10/49€1.07M€1.04M▼
Equity10/15€448k€408k▼
Contributions10/11€347k€347k=
Capital10€347k€347k=
Issued capital100€347k€347k=
Reserves13€337k€331k▼
Non-distributable reserves130/1€35k€35k=
Legal reserve130€35k€35k=
Tax-exempt reserves132€96k€90k▼
Distributable reserves133€206k€206k=
Profit (loss) carried forward14€-236k€-270k▼
Provisions and deferred taxes16€32k€30k▼
Deferred taxes168€32k€30k▼
Amounts payable17/49€589k€605k▲
Amounts payable within one year42/48€574k€585k▲
Trade debts44€592€2k▲
Suppliers440/4€592€2k▲
Taxes, remuneration and social security45€6k€8k▲
Taxes450/3€6k€8k▲
Other amounts payable47/48€567k€574k▲
Accrued charges and deferred income492/3€15k€20k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€46k€46k=
Other operating charges640/8€9k€9k▲
Gross operating margin9900€50k€41k▼
Operating profit (loss)9901€-5k€-15k▼
Financial income75/76B€369€1k▲
Recurring financial income75€369€1k▲
Financial charges65/66B€21k€28k▲
Recurring financial charges65€21k€28k▲
Profit (loss) for the period before taxes9903€-26k€-42k▼
Transfer from deferred taxes780€2k€2k=
Profit (loss) for the period9904€-24k€-40k▼
Transfer from tax-exempt reserves789€6k€6k=
Profit (loss) for the period to be appropriated9905€-18k€-34k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-236k€-270k▼
Profit (loss) brought forward from the previous period14P€-219k€-236k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47k | €47k | €46k | €46k | €46k | = |
| Other operating charges640/8 | - | €8k | €8k | €9k | €9k | ▲ 3.7% |
| Gross operating margin9900 | €31k | €33k | €29k | €50k | €41k | ▼ 18.7% |
| Operating profit (loss)9901 | €-24k | €-21k | €-26k | €-5k | €-15k | ▼ 187% |
| Financial income75/76B | - | €1 | €0 | €369 | €1k | ▲ 192% |
| Recurring financial income75 | €106 | €1 | €0 | €369 | €1k | ▲ 192% |
| Financial charges65/66B | - | €18k | €17k | €21k | €28k | ▲ 33.7% |
| Recurring financial charges65 | €19k | €18k | €17k | €21k | €28k | ▲ 33.7% |
| Profit (loss) for the period before taxes9903 | €-43k | €-39k | €-42k | €-26k | €-42k | ▼ 61.9% |
| Transfer from deferred taxes780 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) for the period9904 | €-41k | €-37k | €-40k | €-24k | €-40k | ▼ 67.4% |
| Transfer from tax-exempt reserves789 | - | €6k | €6k | €6k | €6k | = |
| Profit (loss) for the period to be appropriated9905 | €-35k | €-31k | €-34k | €-18k | €-34k | ▼ 92.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.18M | €1.14M | €1.10M | €1.07M | €1.04M | ▼ 2.5% |
| Fixed assets21/28 | €1.07M | €1.03M | €987k | €941k | €894k | ▼ 4.9% |
| Tangible fixed assets22/27 | €1.07M | €1.03M | €987k | €941k | €894k | ▼ 4.9% |
| Land and buildings22 | - | €1.02M | €984k | €939k | €893k | ▼ 4.8% |
| Plant, machinery and equipment23 | - | €850 | €639 | €429 | €219 | ▼ 49.0% |
| Furniture and vehicles24 | - | €4k | €3k | €2k | €870 | ▼ 50.0% |
| Current assets29/58 | €102k | €112k | €110k | €128k | €148k | ▲ 15.7% |
| Amounts receivable within one year40/41 | €0 | - | - | €37 | €323 | ▲ 781% |
| Other amounts receivable41 | - | - | - | €37 | €323 | ▲ 781% |
| Cash at bank and in hand54/58 | €102k | €111k | €109k | €127k | €146k | ▲ 15.2% |
| Deferred charges and accrued income490/1 | - | €528 | €1k | €622 | €1k | ▲ 87.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.18M | €1.14M | €1.10M | €1.07M | €1.04M | ▼ 2.5% |
| Equity10/15 | €549k | €512k | €472k | €448k | €408k | ▼ 9.0% |
| Contributions10/11 | €0 | €347k | €347k | €347k | €347k | = |
| Capital10 | - | - | €347k | €347k | €347k | = |
| Issued capital100 | - | - | €347k | €347k | €347k | = |
| Outside capital11 | - | €347k | €0 | - | - | - |
| Other1109/19 | - | €347k | €0 | - | - | - |
| Reserves13 | €356k | €350k | €344k | €337k | €331k | ▼ 1.9% |
| Non-distributable reserves130/1 | - | €35k | €35k | €35k | €35k | = |
| Legal reserve130 | - | - | €35k | €35k | €35k | = |
| Other1319 | - | €35k | €0 | - | - | - |
| Tax-exempt reserves132 | - | €109k | €103k | €96k | €90k | ▼ 6.7% |
| Distributable reserves133 | - | €206k | €206k | €206k | €206k | = |
| Profit (loss) carried forward14 | €-154k | €-185k | €-219k | €-236k | €-270k | ▼ 14.3% |
| Provisions and deferred taxes16 | €38k | €36k | €34k | €32k | €30k | ▼ 6.7% |
| Deferred taxes168 | - | €36k | €34k | €32k | €30k | ▼ 6.7% |
| Amounts payable17/49 | €588k | €591k | €591k | €589k | €605k | ▲ 2.7% |
| Amounts payable within one year42/48 | €587k | €591k | €580k | €574k | €585k | ▲ 1.9% |
| Trade debts44 | €442 | €290 | €34 | €592 | €2k | ▲ 266% |
| Suppliers440/4 | - | €290 | €34 | €592 | €2k | ▲ 266% |
| Taxes, remuneration and social security45 | - | €5k | €5k | €6k | €8k | ▲ 34.0% |
| Taxes450/3 | - | €5k | €5k | €6k | €8k | ▲ 34.0% |
| Other amounts payable47/48 | - | €585k | €575k | €567k | €574k | ▲ 1.3% |
| Accrued charges and deferred income492/3 | - | €116 | €11k | €15k | €20k | ▲ 34.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-41k | €-37k | €-40k | €-24k | €-40k | ▼ 67.4% |
| + Depreciation and write-downs630 | €47k | €47k | €46k | €46k | €46k | = |
| Operating cash flow (approximation) | €6k | €10k | €6k | €23k | €6k | ▼ 71.8% |
| Investment in fixed assets (approximation) | - | €-1k | €-6k | €0 | €0 | - |
| Change in cash | - | €10k | €-3k | €19k | €19k | ▲ 3.8% |
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
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-41k
Net result drops to €-41k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Wielsbeke · 1 establishment unit since 1993
Ground area
2,864 m²
Building footprint
438 m²
Volume, LiDAR
1,932 m³
2 parcels, Flanders · tallest building 10.4 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
BIVACO
since 19932.054.731.204
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34040C0436/00N002 | Flanders | 2,182 m² | 1 · 242 m² | 10.4 m · 3 fl. |
| 37017C0133/00E004 | Flanders | 683 m² | 1 · 196 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.
Identification & contact
Identification
Legal formPublic limited company
Founded30-09-1991
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationExtraordinary general meeting
Agenda
1. Verslag raad van bestuur. 2. Goedkeuring van de jaarrekening per 31.12.2003. 3. Bestemming resultaat. 4. Kwijting bestuurders. 5. Herbenoemingen. 6. Rondvraag. Zich schikken naar de statuten. (73202) Brabantse Investeringsmaatschappij, naamloze vennootschap, Eenmeilaan 29, 3010 Kessel-Lo H.R. Leuven 85060 — BTW 421.493.605 De aandeelhouders worden verzocht de jaarvergadering te willen bijwonen die zal gehouden worden op 06.05.2004, om 10 uur, op de maatschappelijke zetel. — Agenda : 1. Goedkeuring van de jaarreke- ning afgesloten op 31.12.2003. 2. Bestemming van het resultaat. 3. Kwij- ting te verlenen aan de bestuurders. 4. Rondvraag. Om deel te nemen aan de vergadering, gelieve zich te ...