blauwberg
ActiveSummary
blauwberg has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €131,768 and a net result of €45,801. Equity is growing by ~19.3% per year across the filed fiscal years. Its solvency ranks better than 24% of 409 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▼-29
Solvency38▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity tight (current ratio 1.19 against 1.14 in 2024; short-term debt: 21.8% and cash: 17.6% of total assets), and 87.2% of the assets are financed with debt.
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Signals
Five 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 31
Relative position
BE, all sectors
reference
Manufacture of furniture (NACE 31)
about 43% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
12.8%
Return on assets
4.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 409 sector peers (2025).
NBB · sector comparisonPosition among 409 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 · 6 filingsDeviation from the deadline
2025
24 d late
2024
5 d late
2023
27 d late
2022
7 d late
2021
30 d late
2020
16 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 18 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% 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. Usually files around 24 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#8 company by total assets in Meise, Manufacturing sector
Turnover
€604,147
EBIT margin
3.4%
Net result
€45,801▲ 153%
2024 · €18,132
Working capital
€42,711▲ 79.0%
2024 · €23,866
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 31, Manufacture of furniture, 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
Turnover
Operating result€15,788▼ 22.3%€12,975▼ 17.8%€1,483▼ 88.6%€23,282▲ 1,470%€191,267▲ 722%
Net result€5,397within the sector's middle half▲ 263%€1,182within the sector's middle half▼ 78.1%€10,957within the sector's middle half▲ 827%€18,132within the sector's middle half▲ 65.5%€45,801above the sector's middle half▲ 153%
EBIT margin
Equity€55,697within the sector's middle half▲ 10.7%€56,879within the sector's middle half▲ 2.1%€67,835below the sector's middle half▲ 19.3%€85,967below the sector's middle half▲ 26.7%€131,768within the sector's middle half▲ 53.3%
Total assets€960,531above the sector's middle half▼ 0.7%€1.0mabove the sector's middle half▲ 7.0%€1.1mwithin the sector's middle half▲ 6.2%€922,571within the sector's middle half▼ 15.5%€1.0mabove the sector's middle half▲ 11.3%
Debt€904,834▼ 1.3%€971,199▲ 7.3%€1.0m▲ 5.4%€836,604▼ 18.3%€895,000▲ 7.0%
Working capital€87,530above the sector's middle half▼ 14.7%€69,350within the sector's middle half▼ 20.8%€68,011within the sector's middle half▼ 1.9%€23,866below the sector's middle half▼ 64.9%€42,711within the sector's middle half▲ 79.0%
Solvency5.8%below the sector's middle half▲ 0.6pp5.5%below the sector's middle half▼ 0.3pp6.2%below the sector's middle half▲ 0.7pp9.3%below the sector's middle half▲ 3.1pp12.8%below the sector's middle half▲ 3.5pp
Current ratio1.79within the sector's middle half▼ 0.381.39within the sector's middle half▼ 0.401.31within the sector's middle half▼ 0.071.14within the sector's middle half▼ 0.171.19within the sector's middle half▲ 0.05
Return on assets (ROA)0.6%within the sector's middle half▲ 0.4pp0.1%within the sector's middle half▼ 0.4pp1.0%within the sector's middle half▲ 0.9pp2.0%within the sector's middle half▲ 1.0pp4.5%within the sector's middle half▲ 2.5pp
Staff (FTE)4.3▲ 43.3%5.5▲ 27.9%7.1within the sector's middle half▲ 29.1%8.1within the sector's middle half▲ 14.1%7.9▼ 2.5%
above
within
below
the middle half (P25 to P75) of NACE 31, Manufacture of furniture, 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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 722% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€759,997 ▲ 3.7%
Current assets
€266,771 ▲ 40.4%
Equity and liabilities €1.0m
Equity
€131,768 ▲ 53.3%
Debt
€895,000 ▲ 7.0%
Debt's share of the balance-sheet total falls from 90.7% to 87.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€268,723▲
2024 · €100,838
Cash flow
€123,257▲
2024 · €95,688
Quick ratio
0.98▲
2024 · 0.80
Debt to equity
6.79▼
2024 · 9.73
ROE
34.8%▲
2024 · 21.1%
Interest coverage
2.12▼
2024 · 6.49
Debt ≤ 1 year
€224,060▲
2024 · €166,130
Debt > 1 year
€670,940▲
2024 · €670,474
Income taxes
€22,446▲
2024 · €10,132
Staff costs
€504,664▲
2024 · €481,899
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
1.6%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 4,508 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €8,972 | €13,461 | €1,044 | €8,485 | - | - |
| Remuneration, social security and pensions62 | €217,263 | €255,085 | €392,283 | €481,899 | €504,664 | ▲ 4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68,774 | €79,460 | €80,059 | €77,556 | €77,456 | ▼ 0.1% |
| Other operating charges640/8 | - | - | €4,341 | €4,952 | €5,782 | ▲ 16.8% |
| Non-recurring operating charges66A | - | €189 | - | - | - | - |
| Gross operating margin9900 | €301,825 | €347,709 | €478,166 | €587,690 | €779,170 | ▲ 32.6% |
| Operating profit (loss)9901 | €15,788 | €12,975 | €1,483 | €23,282 | €191,267 | ▲ 722% |
| Financial income75/76B | €3,053 | €4,638 | €21,658 | €20,515 | €3,473 | ▼ 83.1% |
| Recurring financial income75 | €3,053 | €4,638 | €2,259 | €20,515 | €3,356 | ▼ 83.6% |
| Non-recurring financial income76B | - | - | €19,399 | - | €116 | - |
| Financial charges65/66B | €11,335 | €11,801 | €13,998 | €15,534 | €126,493 | ▲ 714% |
| Recurring financial charges65 | €11,335 | €11,801 | €13,998 | €15,534 | €126,493 | ▲ 714% |
| Non-recurring financial charges66B | - | - | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €7,506 | €5,813 | €9,143 | €28,264 | €68,247 | ▲ 141% |
| Income taxes67/77 | €2,110 | €4,631 | -€1,814 | €10,132 | €22,446 | ▲ 122% |
| Profit (loss) for the period9904 | €5,397 | €1,182 | €10,957 | €18,132 | €45,801 | ▲ 153% |
| Profit (loss) for the period to be appropriated9905 | €5,397 | €1,182 | €10,957 | €18,132 | €45,801 | ▲ 153% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €960,531 | €1.0m | €1.1m | €922,571 | €1.0m | ▲ 11.3% |
| Fixed assets21/28 | €761,665 | €778,957 | €806,875 | €732,574 | €759,997 | ▲ 3.7% |
| Intangible fixed assets21 | - | - | - | - | €14,992 | - |
| Tangible fixed assets22/27 | €761,665 | €778,957 | €806,875 | €732,574 | €745,005 | ▲ 1.7% |
| Land and buildings22 | €736,484 | €703,946 | €667,827 | €620,017 | €579,203 | ▼ 6.6% |
| Plant, machinery and equipment23 | €21,480 | €72,707 | €110,986 | €90,997 | €105,474 | ▲ 15.9% |
| Furniture and vehicles24 | €3,701 | €2,304 | €28,062 | €21,561 | €17,634 | ▼ 18.2% |
| Leasing and similar rights25 | - | - | - | - | €42,694 | - |
| Current assets29/58 | €198,866 | €249,121 | €284,755 | €189,996 | €266,771 | ▲ 40.4% |
| Stocks and contracts in progress3 | €40,730 | €58,312 | €64,617 | €56,420 | €47,420 | ▼ 16.0% |
| Stocks30/36 | €40,730 | €58,312 | €64,617 | €56,420 | €47,420 | ▼ 16.0% |
| Amounts receivable within one year40/41 | €39,636 | €74,625 | €30,202 | €18,052 | €39,067 | ▲ 116% |
| Trade receivables40 | €33,724 | €74,625 | €30,202 | €13,038 | €39,067 | ▲ 200% |
| Other amounts receivable41 | €5,912 | - | - | €5,013 | - | - |
| Cash at bank and in hand54/58 | €93,499 | €59,276 | €189,937 | €28,135 | €180,284 | ▲ 541% |
| Deferred charges and accrued income490/1 | €25,000 | €56,908 | - | €87,390 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €960,531 | €1.0m | €1.1m | €922,571 | €1.0m | ▲ 11.3% |
| Equity10/15 | €55,697 | €56,879 | €67,835 | €85,967 | €131,768 | ▲ 53.3% |
| Contributions10/11 | €1,200 | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Outside capital11 | - | - | - | €1,200 | - | - |
| Other1109/19 | - | - | - | €1,200 | - | - |
| Reserves13 | €100 | €100 | €100 | €100 | €100 | = |
| Non-distributable reserves130/1 | €100 | €100 | €100 | €100 | €100 | = |
| Reserves not available under the articles1311 | €100 | €100 | €100 | €100 | €100 | = |
| Profit (loss) carried forward14 | €54,397 | €55,579 | €66,535 | €84,667 | €130,468 | ▲ 54.1% |
| Amounts payable17/49 | €904,834 | €971,199 | €1.0m | €836,604 | €895,000 | ▲ 7.0% |
| Amounts payable after more than one year17 | €793,498 | €791,429 | €727,050 | €670,474 | €670,940 | ▲ 0.1% |
| Financial debts170/4 | €793,498 | €791,429 | €727,050 | €670,474 | €670,940 | ▲ 0.1% |
| Amounts payable within one year42/48 | €111,336 | €179,770 | €216,745 | €166,130 | €224,060 | ▲ 34.9% |
| Current portion of amounts payable after more than one year42 | €35,723 | €41,449 | €55,125 | €56,576 | €70,825 | ▲ 25.2% |
| Trade debts44 | €24,328 | €58,765 | €55,848 | €36,534 | €101,555 | ▲ 178% |
| Suppliers440/4 | €24,328 | €58,765 | €55,848 | €36,534 | €101,555 | ▲ 178% |
| Taxes, remuneration and social security45 | €39,366 | €69,973 | €98,878 | €67,400 | €51,680 | ▼ 23.3% |
| Taxes450/3 | €2,000 | €18,337 | €33,143 | €16,371 | €33,270 | ▲ 103% |
| Remuneration and social security454/9 | €37,366 | €51,635 | €65,734 | €51,029 | €18,409 | ▼ 63.9% |
| Other amounts payable47/48 | €11,920 | €9,583 | €6,895 | €5,621 | - | - |
| Accrued charges and deferred income492/3 | - | - | €80,000 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,397 | €1,182 | €10,957 | €18,132 | €45,801 | ▲ 153% |
| + Depreciation and write-downs630 | €68,774 | €79,460 | €80,059 | €77,556 | €77,456 | ▼ 0.1% |
| Operating cash flow (approximation) | €74,171 | €80,642 | €91,016 | €95,688 | €123,257 | ▲ 28.8% |
| Investment in fixed assets (approximation) | - | -€96,752 | -€107,977 | -€3,256 | -€104,879 | ▼ 3,121% |
| Change in cash | - | -€34,223 | €130,661 | -€161,802 | €152,149 | ▲ 194% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Highest result since 2020net €45,801 ▲153%
Operating result €191,267, net result €45,801, both a record.
31-12
Financial
Equity above €100,000Eq €131,768 ▲53.3%
6 profitable years in a row build equity to €131,768.
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 5 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 27 days late
2023
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 7 days late
2022
31-12
Financial
Weakest financial yearnet €1,182 ▼78.1%
Net result drops to €1,182, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Meise · 1 establishment unit since 2007
Ground area
1.1 ha
Building footprint
2,382 m²
Volume, LiDAR
9,801 m³
2 parcels, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
-
since 20072.159.920.378
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23050D0543/00D000 | Flanders | 6,323 m² | 1 · 1,728 m² | 7.8 m · 2 fl. |
| 23050D0078/00S000 | Flanders | 4,691 m² | 1 · 654 m² | 7.2 m · 1 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 28,336 EUR awarded · 15,703 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 25,452 EUR | 13,166 EUR |
| 2024 | 1 | 548 EUR | 593 EUR |
| 2023 | 2 | 1,334 EUR | 1,291 EUR |
| 2022 | 2 | 1,002 EUR | 653 EUR |
Recognitions · licences · registrations
Dual-learning approval
2 live approvals · 2 endedMachinaal houtbewerker duaal (so)
Medewerker hout duaal (so)
Show 2 ended approvals
Interieurbouwer (so)
Interieurbouwer duaal (so)
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Of 1,501 companies in sector 31004 we hold annual accounts for 626. 471 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
Founded11-01-2007
Fiscal year end31-12
Activities, NACEBEL 2025
31004Manufacture of dining room, living room, bedroom and bathroom furniture
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0886320177
Also
9925:BE0886320177
Registered
12-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.