BMACON
ActiveSummary
BMACON has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €37.8m and a net result of €3.2m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 70% of 3,805 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, full format
Turnover
€1.0m▼ 14.0%
2023 · €1.2m
EBIT margin
0.1%▼ 32.3pp
2023 · 32.4%
Net result
€3.2m▲ 132%
2023 · €1.4m
Working capital
-€11.3m▼ 1,255%
2023 · -€837,360
Trend over the years
2020 to 2025, 5 financial years 2018 to 2025, 7 financial years
The operating result is €1,059 in 2025, compared with €388,298 in 2023. Comparable figures for the intervening years are unavailable.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€1.0m
2025
Operating result€0.001m
2025
Net result€3.2m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€49.9m
2025
Equity€37.8m
2025
Debt€12.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€11.3m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin0.1%
2025
Return on assets (ROA)6.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency75.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.02
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232025
Turnover€0.8m-€1.1m▲ 34.1%€1.1m▲ 0.9%€1.1m▲ 0.9%€1.1m▲ 3.6%€1.2m▲ 7.3%€1.0m-
Operating result€0.3m-€0.3m▲ 36.5%€0.4m▲ 4.0%€0.3m▼ 6.4%€0.4m▲ 16.6%€0.4m▲ 0.2%€0.001m-
Net result€0.07m-€1.8m▲ 2,394%€9.0mabove the sector's middle half▲ 386%€1.1mabove the sector's middle half▼ 87.8%€4.4mabove the sector's middle half▲ 304%€1.4mabove the sector's middle half▼ 68.4%€3.2mabove the sector's middle half-
EBIT margin31.7%-32.3%▲ 0.6pp33.3%▲ 1.0pp30.8%▼ 2.4pp34.7%▲ 3.9pp32.4%▼ 2.3pp0.1%-
Equity€16.7m-€17.9m▲ 6.9%€25.5mabove the sector's middle half▲ 42.6%€21.2mabove the sector's middle half▼ 17.1%€12.2mabove the sector's middle half▼ 42.5%€11.6mabove the sector's middle half▼ 4.4%€37.8mabove the sector's middle half-
Total assets€26.6m-€26.9m▲ 1.1%€27.2mabove the sector's middle half▲ 1.2%€26.8mabove the sector's middle half▼ 1.7%€29.9mabove the sector's middle half▲ 11.9%€26.7mabove the sector's middle half▼ 10.8%€49.9mabove the sector's middle half-
Debt€9.8m-€9.0m▼ 8.9%€1.7m▼ 81.3%€5.6m▲ 233%€17.8m▲ 218%€15.1m▼ 15.2%€12.1m-
Working capital-€1.2m--€0.1m▲ 91.7%-€0.6mbelow the sector's middle half▼ 480%-€0.4mbelow the sector's middle half▲ 37.9%€3.7mabove the sector's middle half-€0.8mbelow the sector's middle half-€11.3mbelow the sector's middle half-
Solvency63.0%-66.6%▲ 3.7pp93.8%above the sector's middle half▲ 27.2pp79.1%above the sector's middle half▼ 14.7pp40.7%within the sector's middle half▼ 38.5pp43.6%within the sector's middle half▲ 2.9pp75.7%within the sector's middle half-
Current ratio0.27-0.88▲ 0.610.64within the sector's middle half▼ 0.240.63within the sector's middle half▼ 0.0233.50above the sector's middle half▲ 32.880.41below the sector's middle half▼ 33.100.02below the sector's middle half-
Return on assets (ROA)0.3%-6.9%▲ 6.6pp33.0%above the sector's middle half▲ 26.1pp4.1%within the sector's middle half▼ 28.9pp14.8%above the sector's middle half▲ 10.7pp5.2%within the sector's middle half▼ 9.5pp6.5%within the sector's middle half-
Staff (FTE)2within the sector's middle half-
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €49.9m
Fixed assets
€49.7m ▲ 90.1%
Current assets
€257,576 ▼ 54.8%
Equity and liabilities €49.9m
Equity
€37.8m ▲ 225%
Debt
€12.1m ▼ 19.6%
Debt's share of the balance-sheet total falls from 56.4% to 24.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6,346
Cash flow
€3.2m
Debt to equity
0.32▼
2023 · 1.29
ROE
8.6%▼
2023 · 12.0%
Interest coverage
0.01
Debt ≤ 1 year
€11.6m▲
2023 · €1.4m
Debt > 1 year
€47,720▼
2023 · €13.7m
Income taxes
€300▼
2023 · €54,000
Staff costs
€490,974
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €1.1m | €1.1m | €1.2m | €1.0m | - |
| Turnover70 | €0.8m | €1.1m | €1.1m | €1.1m | €1.1m | €1.2m | €1.0m | - |
| Other operating income74 | - | - | - | - | - | - | €0.001m | - |
| Operating charges60/66A | - | - | - | €0.7m | €0.7m | €0.8m | €1.0m | - |
| Services and other goods61 | - | - | - | €0.7m | €0.7m | €0.8m | €0.5m | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €0.5m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | - | €0.005m | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.002m | - |
| Operating profit (loss)9901 | €0.3m | €0.3m | €0.4m | €0.3m | €0.4m | €0.4m | €0.001m | - |
| Financial income75/76B | - | - | - | €0.9m | €4.3m | €1.3m | €3.7m | - |
| Recurring financial income75 | €17 | €1.6m | €8.7m | €0.9m | €4.3m | €1.3m | €3.7m | - |
| Income from financial fixed assets750 | - | - | - | €0.9m | €4.3m | €1.3m | €3.7m | - |
| Other financial income752/9 | - | - | - | €0.005m | €0.006m | €0.04m | €0.009m | - |
| Financial charges65/66B | - | - | - | €0.004m | €0.3m | €0.2m | €0.4m | - |
| Recurring financial charges65 | €0.1m | €0.1m | €0.05m | €0.004m | €0.3m | €0.2m | €0.4m | - |
| Debt charges650 | €0.1m | €0.1m | €0.05m | €0.004m | €0.3m | €0.2m | €0.4m | - |
| Other financial charges652/9 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | - |
| Profit (loss) for the period before taxes9903 | €0.1m | €1.8m | €9.0m | €1.2m | €4.5m | €1.5m | €3.2m | - |
| Income taxes67/77 | €0.03m | -€0.03m | €0.08m | €0.09m | €0.04m | €0.05m | €300 | - |
| Taxes670/3 | - | - | - | €0.09m | €0.04m | €0.05m | €300 | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0 | €0.006m | €0 | €0 | - |
| Profit (loss) for the period9904 | €0.07m | €1.8m | €9.0m | €1.1m | €4.4m | €1.4m | €3.2m | - |
| Profit (loss) for the period to be appropriated9905 | €0.07m | €1.8m | €9.0m | €1.1m | €4.4m | €1.4m | €3.2m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €26.6m | €26.9m | €27.2m | €26.8m | €29.9m | €26.7m | €49.9m | - |
| Fixed assets21/28 | €26.1m | €26.1m | €26.1m | €26.1m | €26.1m | €26.1m | €49.7m | - |
| Tangible fixed assets22/27 | - | - | - | - | - | - | €0.07m | - |
| Land and buildings22 | - | - | - | - | - | - | €0.004m | - |
| Leasing and similar rights25 | - | - | - | - | - | - | €0.07m | - |
| Financial fixed assets28 | €26.1m | €26.1m | €26.1m | €26.1m | €26.1m | €26.1m | €49.6m | - |
| Affiliated companies280/1 | - | - | - | €26.1m | €26.1m | €26.1m | €49.6m | - |
| Participating interests280 | - | - | - | €26.1m | €26.1m | €26.1m | €49.6m | - |
| Current assets29/58 | €0.5m | €0.7m | €1.1m | €0.6m | €3.8m | €0.6m | €0.3m | - |
| Stocks and contracts in progress3 | - | €0 | €0 | €0 | €0 | €0 | - | - |
| Amounts receivable within one year40/41 | €0.3m | €0.6m | €0.8m | €0.1m | €3.8m | €0.4m | €0.2m | - |
| Trade receivables40 | - | - | - | €0.1m | €0.4m | €0.4m | €0.2m | - |
| Other amounts receivable41 | - | - | - | €247 | €3.4m | €0.02m | €0.002m | - |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.2m | €0.5m | €0.04m | €0.1m | €0.05m | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.004m | €0.004m | €0.003m | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €26.6m | €26.9m | €27.2m | €26.8m | €29.9m | €26.7m | €49.9m | - |
| Equity10/15 | €16.7m | €17.9m | €25.5m | €21.2m | €12.2m | €11.6m | €37.8m | - |
| Contributions10/11 | €15.9m | €15.9m | €15.9m | €15.9m | €2.5m | €2.5m | €26.0m | - |
| Capital10 | - | - | - | €15.9m | €2.5m | - | - | - |
| Issued capital100 | - | - | - | €15.9m | €2.5m | - | - | - |
| Reserves13 | €0.09m | €0.2m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | - |
| Non-distributable reserves130/1 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | - |
| Legal reserve130 | - | - | - | €0.6m | €0.6m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €0.6m | €0.6m | - |
| Profit (loss) carried forward14 | €0.7m | €1.8m | €9.0m | €4.6m | €9.0m | €8.5m | €11.2m | - |
| Amounts payable17/49 | €9.8m | €9.0m | €1.7m | €5.6m | €17.8m | €15.1m | €12.1m | - |
| Amounts payable after more than one year17 | €8.0m | €8.0m | €0 | €4.6m | €17.4m | €13.7m | €0.05m | - |
| Financial debts170/4 | - | - | - | €4.6m | €17.4m | €13.7m | €0.05m | - |
| Subordinated loans170 | - | - | - | €4.6m | €17.4m | €13.7m | €0 | - |
| Leasing and similar obligations172 | - | - | - | - | - | - | €0.05m | - |
| Amounts payable within one year42/48 | €1.7m | €0.8m | €1.7m | €1.0m | €0.1m | €1.4m | €11.6m | - |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €11.5m | - |
| Trade debts44 | €0.1m | €0.2m | €0.3m | €0.006m | €0.06m | €0.2m | €0.009m | - |
| Suppliers440/4 | - | - | - | €0.006m | €0.06m | €0.2m | €0.009m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.05m | €0.06m | €0.08m | - |
| Taxes450/3 | - | - | - | €0.1m | €0.05m | €0.06m | €250 | - |
| Remuneration and social security454/9 | - | - | - | - | - | - | €0.08m | - |
| Other amounts payable47/48 | - | - | - | €0.9m | €0 | €1.2m | €0 | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.009m | €0.2m | €0.002m | €0.5m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.07m | €1.8m | €9.0m | €1.1m | €4.4m | €1.4m | €3.2m | - |
| + Depreciation and write-downs630 | - | - | - | - | - | - | €0.005m | - |
| Operating cash flow (approximation) | €0.07m | €1.8m | €9.0m | €1.1m | €4.4m | €1.4m | €3.2m | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - | - |
| Change in cash | - | -€0.01m | €0.06m | €0.2m | -€0.4m | €0.09m | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 06-07-2026 | 2026-00264418 |
| 31-12-2024 | full format | 28-07-2025 | 2025-00325434 |
| 31-12-2023 | full format | 24-07-2024 | 2024-00278862 |
| 31-12-2022 | full format | 05-07-2023 | 2023-00204253 |
| 31-12-2021 | full format | 05-07-2022 | 2022-20150065 |
| 31-12-2020 | full format | 13-07-2021 | 2021-35400502 |
| 31-12-2019 | full format | 27-07-2020 | 2020-34800483 |
| 31-12-2018 | full format | 19-08-2019 | 2019-47600536 |
| 31-12-2017 | full format | 06-07-2018 | 2018-30200278 |
| 31-12-2016 | full format | 11-07-2017 | 2017-30100462 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.